# EDGAR Filing Document

**Accession Number:** 0000926243
**File Stem:** 0001752724-25-146787
**Filing Date:** 2025-6
**Character Count:** 152668
**Document Hash:** 317710f24f81985029df02c27cb1600c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-146787.hdr.sgml**: 20250617

**ACCESSION NUMBER**: 0001752724-25-146787

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250617

**DATE AS OF CHANGE**: 20250617

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** COMMERCE FUNDS
- **CENTRAL INDEX KEY:** 0000926243

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08598
- **FILM NUMBER:** 251052074

**BUSINESS ADDRESS:**
- **STREET 1:** 1000 WALNUT ST
- **CITY:** KANSAS CITY
- **STATE:** MO
- **ZIP:** 64121
- **BUSINESS PHONE:** 8006212550

**MAIL ADDRESS:**
- **STREET 1:** PO BOX 219525
- **CITY:** KANSAS CITY
- **STATE:** MO
- **ZIP:** 64121

## Series and Classes Contracts Data

### The National Tax-Free Intermediate Bond Fund (Series ID: S000010032)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000027733 | Shares       | CFNLX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** COMMERCE FUNDS

- **b. Investment Company Act file number:** 811-08598

- **c. CIK number of Registrant:** 0000926243

- **d. LEI of Registrant:** 5493008VDCPHK1O3IK55

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1000 Walnut Street, Suite 1580

  - **City:** KANSAS CITY

  - **State:** MO

  - **Foreign country:** US

  - **Zip / Postal Code:** 64106-1809

  - **Telephone number:** 1-800-995-6365

**Item A.2. Information about the Series.**

- **a. Name of Series:** The National Tax-Free Intermediate Bond Fund

- **b. EDGAR series identifier (if any):** S000010032

- **c. LEI of Series:** 54930084WLX06EKQAJ19

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-04-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $352731139.28

**Total Liabilities:** $4705531.18

**Net Assets:** $348025608.10

**Delayed Delivery Securities:** $3561375.30

**Cash Not Reported:** $13514.69

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** -844.34000000 | **1-Year:** -13861.56000000 | **5-Year:** -66463.63000000 | **10-Year:** -102200.31000000 | **30-Year:** -9814.23000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -5.29000000 | **1-Year:** -247.67000000 | **5-Year:** -408.86000000 | **10-Year:** -81.70000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000027733 | 0.99%                | -1.31%               | -0.31%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-222979.54              | $2855273.34                                |
| Month 2  | $-82229.41               | $-5535949.57                               |
| Month 3  | $-209834.86              | $-1654392.01                               |

### Schedule of Portfolio Investments

| Name                                                                             | Title                                                        | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| YORK PA YOR 11/26 FIXED 5                                                        | City of York PA                                              | CUSIP: 986812SG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    640000 | PA      | $645060.48    | 0.19%             | 2026-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Woodford Lasalle Livingston Etc Counties Community Unit Sch Dist No 6 Fieldcrest | WOODFORD LASALLE LIVINGSTON ETC CNTYS IL CMNTY UNIT SCH DIST | CUSIP: 979412BS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $709861.18    | 0.20%             | 2031-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Higher Education Student Assistance Authority                         | NEW JERSEY ST HGR EDU ASSISTANCE AUTH STUDENT LOAN REVENUE   | CUSIP: 646080YA3<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1043433.70   | 0.30%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Adams & Weld Counties School District No 27J Brighton/CO                         | ADAMS & WELD CNTYS CO SCH DIST #27J BRIGHTON                 | CUSIP: 005518WY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2055000 | PA      | $2072740.20   | 0.60%             | 2042-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port Freeport TX                                                                 | PORT FREEPORT TX SENIOR LIEN REVENUE                         | CUSIP: 73412PEN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1655000 | PA      | $1610671.98   | 0.46%             | 2035-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                               | SOUTH CAROLINA ST JOBS-ECON DEV AUTH ECON DEV REVENUE        | CUSIP: 837031H22<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2159745.40   | 0.62%             | 2034-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Brownsburg 1999 School Building Corp                                             | BROWNSBURG IN 1999 SCH BLDG CORP                             | CUSIP: 116083XY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1195249.51   | 0.34%             | 2042-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                                     | MISSISSIPPI ST DEV BANK SPL OBLG                             | CUSIP: 60534WRD2<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |    400000 | PA      | $397370.04    | 0.11%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Rolling Meadows IL                                                       | ROLLING MEADOWS IL                                           | CUSIP: 775694LK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    495000 | PA      | $494142.76    | 0.14%             | 2034-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Grand CO                                                               | GRAND CNTY CO COPS                                           | CUSIP: 385301AS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $551326.34    | 0.16%             | 2042-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sunman-Dearborn High School Building Corp                                        | SUNMAN DEARBORN IN HIGH SCH BLDG CORP                        | CUSIP: 867420DB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1066503.60   | 0.31%             | 2038-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Westfield High School Building Corp                                              | WESTFIELD IN HIGH SCH 1995 BLDG CORP                         | CUSIP: 96009AEB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $759998.70    | 0.22%             | 2031-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Collin County Municipal Utility District No 2                                    | COLLIN CNTY TX MUNI UTILITY DIST #2                          | CUSIP: 19474PHK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1675000 | PA      | $1677103.63   | 0.48%             | 2035-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Warren MS                                                              | WARREN CNTY MS COPS                                          | CUSIP: 935019AR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1135357.90   | 0.33%             | 2039-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Grand Traverse County Hospital Finance Authority                                 | GRAND TRAVERSE CNTY MI HOSP FIN AUTH                         | CUSIP: 386523GS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    495000 | PA      | $515488.40    | 0.15%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky State Property & Building Commission                                    | KENTUCKY ST PROPERTY & BLDGS COMMISSION REVENUES             | CUSIP: 49151FVP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    915000 | PA      | $945135.25    | 0.27%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Shikellamy School District                                                       | SHIKELLAMY PA SCH DIST                                       | CUSIP: 824512RX7<br>LEI: 549300ON6LIU6GE57M97 | Long             | DBT              | MUN               | US        |   1610000 | PA      | $1455258.07   | 0.42%             | 2029-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| City of Kankakee IL                                                              | KANKAKEE IL                                                  | CUSIP: 484404A81<br>LEI: 549300Z3ZVLSXELVAS52 | Long             | DBT              | MUN               | US        |   1380000 | PA      | $1393717.06   | 0.40%             | 2031-12-01      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| City of Celina TX                                                                | CELINA TX                                                    | CUSIP: 151141SU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    430000 | PA      | $431954.48    | 0.12%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Education Assistance Agency                                  | PENNSYLVANIA HGR EDU ASSISTANCE AGY LOAN REVENUE             | CUSIP: 70878CAH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $504863.90    | 0.15%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Alaska Municipal Bond Bank Authority                                             | ALASKA ST MUNI BOND BANK AUTH                                | CUSIP: 01179RVE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1033676.90   | 0.30%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| General Authority of Southcentral Pennsylvania                                   | SOUTHCENTRL PA GEN AUTH REVENUE                              | CUSIP: 84129NMY2<br>LEI: 549300QBNU5LBV4QX812 | Long             | DBT              | MUN               | US        |    225000 | PA      | $233284.32    | 0.07%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Portland ME General Airport Revenue                                      | PORTLAND ME ARPT REVENUE                                     | CUSIP: 736564DR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $215920.03    | 0.06%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Souderton Area School District                                                   | SOUDERTON PA AREA SCH DIST                                   | CUSIP: 836030UX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2075000 | PA      | $2036059.93   | 0.59%             | 2038-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Clifton Higher Education Finance Corp                                            | CLIFTON TX HGR EDU FIN CORP EDU REVENUE                      | CUSIP: 187145SN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    860000 | PA      | $937963.56    | 0.27%             | 2035-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Monessen School District                                                         | MONESSEN PA SCH DIST                                         | CUSIP: 609269HY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    805000 | PA      | $848500.51    | 0.24%             | 2039-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Greenville TX Electric System Revenue                                    | GREENVILLE TX ELEC UTILITY SYS REVENUE                       | CUSIP: 396706HF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1026354.50   | 0.29%             | 2047-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAINE ST HSG AUTH MTGE PURCHAS MESHSG 11/31 FIXED 2.35                           | Maine State Housing Authority                                | CUSIP: 56052FQL2<br>LEI: 549300SO05LH6D240016 | Long             | DBT              | MUN               | US        |    905000 | PA      | $799159.25    | 0.23%             | 2031-11-15      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                                 | KENTUCKY ST PUBLIC ENERGY AUTH GAS SPLY REVENUE              | CUSIP: 74440DFK5<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1034010.20   | 0.30%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAINE ST HSG AUTH MTGE PURCHAS MESHSG 11/30 FIXED 2.25                           | Maine State Housing Authority                                | CUSIP: 56052FQK4<br>LEI: 549300SO05LH6D240016 | Long             | DBT              | MUN               | US        |    870000 | PA      | $785707.53    | 0.23%             | 2030-11-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| City of Laredo TX                                                                | LAREDO TX                                                    | CUSIP: 516824NM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1740000 | PA      | $1830713.51   | 0.53%             | 2040-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Whitestown Redevelopment Authority                                               | WHITESTOWN IN REDEV AUTH LEASE RENTAL REVENUE                | CUSIP: 966100EE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1625000 | PA      | $1530703.36   | 0.44%             | 2033-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                                     | MISSISSIPPI ST DEV BANK SPL OBLG                             | CUSIP: 60534WRE0<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |    500000 | PA      | $496164.30    | 0.14%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tennessee Housing Development Agency                                             | TENNESSEE HSG DEV AGY RSDL FIN PROGRAM REVENUE               | CUSIP: 880461FX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $120179.56    | 0.03%             | 2038-01-01      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Port Freeport TX                                                                 | PORT FREEPORT TX SENIOR LIEN REVENUE                         | CUSIP: 73412PEM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1718846.31   | 0.49%             | 2034-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| City of Austin TX Airport System Revenue                                         | AUSTIN TX ARPT SYS REVENUE                                   | CUSIP: 052398HH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1337335.63   | 0.38%             | 2032-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Clay SD                                                                | CLAY CNTY SD                                                 | CUSIP: 183543AR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1047310.40   | 0.30%             | 2038-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wayne County Hospital & Health Facilities Authority                              | WAYNE CNTY PA HOSP & HLTH FACS AUTH CNTY GTD HOSP REVENUE    | CUSIP: 946016JM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $550216.15    | 0.16%             | 2025-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                            | PENNSYLVANIA ST ECON DEV FING AUTH UPMC REVENUE              | CUSIP: 70870JGF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $942151.50    | 0.27%             | 2040-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Salt Lake City UT Airport Revenue                                        | SALT LAKE CITY UT ARPT REVENUE                               | CUSIP: 795576GM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $512649.15    | 0.15%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                                 | KENTUCKY ST PUBLIC ENERGY AUTH GAS SPLY REVENUE              | CUSIP: 74440DFM1<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1039385.20   | 0.30%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Griffith Redevelopment Authority                                                 | GRIFFITH IN REDEV AUTH LEASE RENT REVENUE                    | CUSIP: 398346CY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $529538.55    | 0.15%             | 2033-07-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Avon Redevelopment Authority                                                     | AVON IN REDEV AUTH LEASE RENT                                | CUSIP: 05408FAV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1005000 | PA      | $991578.53    | 0.28%             | 2037-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                             | MASSACHUSETTS ST HSG FIN AGY HSG REVENUE                     | CUSIP: 57587GFL4<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    710000 | PA      | $598572.53    | 0.17%             | 2032-12-01      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| Rhode Island Student Loan Authority                                              | RHODE ISLAND ST STUDENT LOAN AUTH LOAN REVENUE               | CUSIP: 762323DJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $523301.80    | 0.15%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Youngstown State University                                                      | YOUNGSTOWN OH ST UNIV                                        | CUSIP: 987720FM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    505000 | PA      | $546384.80    | 0.16%             | 2036-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Grand Blanc Community Schools                                                    | GRAND BLANC MI CMNTY SCHS                                    | CUSIP: 385244LZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $490610.70    | 0.14%             | 2026-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                        | INDIANA ST FIN AUTH HLTH FAC REVENUE                         | CUSIP: 45471CDE5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1420000 | PA      | $1504085.58   | 0.43%             | 2036-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                             | MASSACHUSETTS ST HSG FIN AGY HSG REVENUE                     | CUSIP: 57587GFK6<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    960000 | PA      | $804255.36    | 0.23%             | 2032-06-01      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                        | INDIANA ST FIN AUTH HOSP REVENUE                             | CUSIP: 45471ATW2<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    700000 | PA      | $691604.97    | 0.20%             | 2036-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Florida Housing Finance Corp                                                     | FLORIDA ST HSG FIN CORP REVENUE                              | CUSIP: 34074MSX0<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |    535000 | PA      | $510704.05    | 0.15%             | 2027-07-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| North Muskegon Public Schools                                                    | NORTH MUSKEGON MI PUBLIC SCHS                                | CUSIP: 661224KK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $466074.55    | 0.13%             | 2036-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Rhode Island                                                            | RHODE ISLAND ST & PROVIDENCE PLANTATIONS LEASE COPS          | CUSIP: 76222WNF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    980000 | PA      | $985859.91    | 0.28%             | 2033-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                        | INDIANA ST FIN AUTH HOSP REVENUE                             | CUSIP: 45471ATS1<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    700000 | PA      | $708874.88    | 0.20%             | 2032-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| St Clair County School District No 118 Belleville                                | SAINT CLAIR CNTY IL SCH DIST #118 BELLEVILLE                 | CUSIP: 788448JY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1092187.60   | 0.31%             | 2037-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Vermont Student Assistance Corp                                                  | VERMONT ST STUDENT ASSISTANCECORP EDU LOAN REVENUE           | CUSIP: 92428CLU6<br>LEI: 549300VHYVRSKNFRSZ91 | Long             | DBT              | MUN               | US        |    400000 | PA      | $400458.16    | 0.12%             | 2025-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Centre County Hospital Authority                                                 | CENTRE CNTY PA HOSP AUTH                                     | CUSIP: 156273GR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1024169.50   | 0.29%             | 2026-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Shikellamy School District                                                       | SHIKELLAMY PA SCH DIST                                       | CUSIP: 824512RW9<br>LEI: 549300ON6LIU6GE57M97 | Long             | DBT              | MUN               | US        |   1945000 | PA      | $1807501.14   | 0.52%             | 2028-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| City of Portland ME General Airport Revenue                                      | PORTLAND ME ARPT REVENUE                                     | CUSIP: 736564DS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | PA      | $331240.01    | 0.10%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Housing Finance Authority                                            | CONNECTICUT ST HSG FIN AUTH HSG MTGE FIN PROGRAM             | CUSIP: 20775C8A5<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |    765000 | PA      | $755588.82    | 0.22%             | 2025-11-15      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| Bullitt County School District Finance Corp                                      | BULLITT CNTY KY SCH DIST FIN CORP SCH BLDG REVENUE           | CUSIP: 120280D58<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1925000 | PA      | $1897474.81   | 0.55%             | 2039-03-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| County of Winnebago IL                                                           | WINNEBAGO CNTY IL                                            | CUSIP: 974450M62<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    905000 | PA      | $950178.05    | 0.27%             | 2028-12-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Grand Rapids Public Schools                                                      | GRAND RAPIDS MI PUBLIC SCHS                                  | CUSIP: 386280SK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    775000 | PA      | $829427.86    | 0.24%             | 2040-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Education Assistance Agency                                  | PENNSYLVANIA HGR EDU ASSISTANCE AGY LOAN REVENUE             | CUSIP: 70878CAJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $534635.22    | 0.15%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Health & Educational Facilities Authority of the State of Missouri               | MISSOURI ST HLTH & EDUCTNL FACS AUTH HLTH FACS REVENUE       | CUSIP: 60637AGN6<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2958380.70   | 0.85%             | 2045-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Housing Finance Authority                                            | CONNECTICUT ST HSG FIN AUTH HSG MTGE FIN PROGRAM             | CUSIP: 20775C8B3<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |    500000 | PA      | $489108.50    | 0.14%             | 2026-05-15      | Fixed         | 2.09%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                        | HOUSTON TX ARPT SYS REVENUE                                  | CUSIP: 442349FL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1277006.76   | 0.37%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Casino Reinvestment Development Authority Inc                                    | CASINO REINVESTMENT DEV AUTH NJ LUXURY TAX REVENUE           | CUSIP: 14760RCG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    715000 | PA      | $765213.16    | 0.22%             | 2038-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Clarion County Industrial Development Authority                                  | CLARION CNTY PA INDL DEV AUTH LEASE REV                      | CUSIP: 18052JAF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    460000 | PA      | $500118.67    | 0.14%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                                    | MASSACHUSETTS ST EDUCTNL FING AUTH                           | CUSIP: 57563RUB3<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |    550000 | PA      | $540905.42    | 0.16%             | 2032-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Arlington Higher Education Finance Corp                                          | ARLINGTON TX HGR EDU FIN CORP EDU REVENUE                    | CUSIP: 041806H37<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001150.60   | 0.29%             | 2035-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| University of Illinois                                                           | UNIV OF ILLINOIS IL REVENUES                                 | CUSIP: 914353P43<br>LEI: 549300VD8PPC4Q5HK850 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1959401.60   | 0.56%             | 2035-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Gulfport MS                                                              | GULFPORT MS HOSP FAC REVENUE                                 | CUSIP: 402682CX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $404291.21    | 0.12%             | 2037-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Chester County School Authority                                                  | CHESTER CNTY PA SCH AUTH SCH LEASE REVENUE                   | CUSIP: 165618EL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $802225.05    | 0.23%             | 2036-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Rolling Meadows IL                                                       | ROLLING MEADOWS IL                                           | CUSIP: 775694LL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    515000 | PA      | $509426.21    | 0.15%             | 2035-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Correctional Facilities Corp                                           | LOUISIANA ST CORRNL FACS CORP LEASE REVENUE                  | CUSIP: 546458EA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    695000 | PA      | $747081.01    | 0.21%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Providence Public Building Authority                                             | PROVIDENCE RI PUBLIC BLDGS AUTH REVENUE                      | CUSIP: 74381MDH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1187280.60   | 0.34%             | 2040-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Education Assistance Agency                                  | PENNSYLVANIA HGR EDU ASSISTANCE AGY LOAN REVENUE             | CUSIP: 70878CAK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $537697.60    | 0.15%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Upper Mohawk Valley Memorial Auditorium Authority                                | UPPER MOHAWK VLY NY MEMORIAL AUDITORIUM AUTH REVENUE         | CUSIP: 916087AV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    890000 | PA      | $781982.57    | 0.22%             | 2032-12-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| County of Grand CO                                                               | GRAND CNTY CO COPS                                           | CUSIP: 385301AR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    830000 | PA      | $879196.51    | 0.25%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florence County School District No 3                                             | FLORENCE CNTY SC SCH DIST #3 SPL OBLIG                       | CUSIP: 34015QAJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    565000 | PA      | $611372.54    | 0.18%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Harris County Municipal Utility District No 105                                  | HARRIS CNTY TX MUNI UTILITY DIST #105                        | CUSIP: 414942VS8<br>LEI: 549300YRGJX0S2AMLW69 | Long             | DBT              | MUN               | US        |    970000 | PA      | $979725.61    | 0.28%             | 2033-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Rolling Meadows IL                                                       | ROLLING MEADOWS IL                                           | CUSIP: 775694LN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    555000 | PA      | $535769.58    | 0.15%             | 2037-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Washington Health Care Facilities Authority                                      | WASHINGTON ST HLTH CARE FACS AUTH                            | CUSIP: 93978HMX0<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |    495000 | PA      | $496720.72    | 0.14%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Casino Reinvestment Development Authority Inc                                    | CASINO REINVESTMENT DEV AUTH NJ LUXURY TAX REVENUE           | CUSIP: 14760RCE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $544081.55    | 0.16%             | 2036-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                                 | KENTUCKY ST PUBLIC ENERGY AUTH GAS SPLY REVENUE              | CUSIP: 74440DEL4<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3116903.70   | 0.90%             | 2055-05-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                                     | MISSISSIPPI ST DEV BANK SPL OBLG                             | CUSIP: 60534WRF7<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |    400000 | PA      | $396131.68    | 0.11%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chester County School Authority                                                  | CHESTER CNTY PA SCH AUTH SCH LEASE REVENUE                   | CUSIP: 165618EN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $530782.70    | 0.15%             | 2038-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Hazard KY                                                                | HAZARD KY HLTHCARE REVENUE                                   | CUSIP: 421381AP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    855000 | PA      | $901695.65    | 0.26%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Shelbyville Redevelopment Authority                                              | SHELBYVILLE IN REDEV AUTH LEASE RENTAL REVENUE               | CUSIP: 82222NBT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    485000 | PA      | $494874.31    | 0.14%             | 2032-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| University of New Mexico/The                                                     | UNIV OF NEW MEXICO NM                                        | CUSIP: 914692Z27<br>LEI: 549300WZXG6PIBC7KB43 | Long             | DBT              | MUN               | US        |   1685000 | PA      | $1622663.26   | 0.47%             | 2027-06-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Casino Reinvestment Development Authority Inc                                    | CASINO REINVESTMENT DEV AUTH NJ LUXURY TAX REVENUE           | CUSIP: 14760RCF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $809075.78    | 0.23%             | 2037-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Missouri Development Finance Board                                               | MISSOURI ST DEV FIN BRD INFRASTRUCTURE FACS REVENUE          | CUSIP: 60636SKN3<br>LEI: 549300JD8BCNBV9D3830 | Long             | DBT              | MUN               | US        |    810000 | PA      | $818534.08    | 0.24%             | 2030-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Hazard KY                                                                | HAZARD KY HLTHCARE REVENUE                                   | CUSIP: 421381AQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1275000 | PA      | $1342916.83   | 0.39%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Toledo                                                             | UNIV OF TOLEDO OH                                            | CUSIP: 915138MR9<br>LEI: 549300530V11GF5PZA78 | Long             | DBT              | MUN               | US        |    700000 | PA      | $701281.21    | 0.20%             | 2036-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IPS Multi-School Building Corp                                                   | IPS MULTI-SCH BLDG CORP IN                                   | CUSIP: 46263RSC0<br>LEI: 549300BHLK1DUJUYPM91 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1280867.04   | 0.37%             | 2040-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Michigan State Housing Development Authority                                     | MICHIGAN ST HSG DEV AUTH RENTAL HSG REVENUE                  | CUSIP: 59465MZ73<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |    470000 | PA      | $452656.20    | 0.13%             | 2028-04-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Ridley School District                                                           | RIDLEY PA SCH DIST AUTH SCH REVENUE                          | CUSIP: 766360BG5<br>LEI: 549300YUHUQO2URNGZ44 | Long             | DBT              | MUN               | US        |   1315000 | PA      | $1353102.91   | 0.39%             | 2044-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greeneville Health & Educational Facilities Board                                | GREENEVILLE TN HLTH & EDUCTNL FACS BRD HOSP REVENUE          | CUSIP: 396649EM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $622253.46    | 0.18%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Special Care Facilities Financing Authority of the City of Pell City Alabama     | PELL CITY AL SPL CARE FACS FING AUTH REVENUE                 | CUSIP: 705888CB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2255000 | PA      | $2368773.09   | 0.68%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                             | CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE                 | CUSIP: 1675934M1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1053972.60   | 0.30%             | 2041-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Oklahoma Capitol Improvement Authority                                           | OKLAHOMA ST CAPITOL IMPT AUTHST FACS REVENUE                 | CUSIP: 679088MP6<br>LEI: 549300LYHYBINTZ5AY71 | Long             | DBT              | MUN               | US        |   1975000 | PA      | $1920466.70   | 0.55%             | 2038-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Shreveport LA                                                            | SHREVEPORT LA                                                | CUSIP: 8254346G3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $535599.25    | 0.15%             | 2037-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Midway International Airport                                             | CHICAGO IL MIDWAY ARPT REVENUE                               | CUSIP: 167562TX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1063333.40   | 0.31%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Housing Finance Corp                                                     | FLORIDA ST HSG FIN CORP REVENUE                              | CUSIP: 34074MTA9<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |    520000 | PA      | $484150.94    | 0.14%             | 2029-01-01      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Greater Orlando Aviation Authority                                               | GTR ORLANDO FL AVIATION AUTH ARPT FACS REVENUE               | CUSIP: 3922743Y0<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |   2015000 | PA      | $2017005.93   | 0.58%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Upper Mohawk Valley Memorial Auditorium Authority                                | UPPER MOHAWK VLY NY MEMORIAL AUDITORIUM AUTH REVENUE         | CUSIP: 916087AX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    940000 | PA      | $808629.83    | 0.23%             | 2034-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Gerald R Ford International Airport Authority                                    | GERALD R FORD INTERNATIONAL ARPT AUTH MI REVENUE             | CUSIP: 373695BZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $522114.60    | 0.15%             | 2040-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Village of Elk Grove Village IL                                                  | ELK GROVE VLG IL                                             | CUSIP: 287299LJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $538377.16    | 0.15%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Alaska Municipal Bond Bank Authority                                             | ALASKA ST MUNI BOND BANK AUTH                                | CUSIP: 01179RLD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     80000 | PA      | $80085.57     | 0.02%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                         | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57584XWV9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3008185.50   | 0.86%             | 2046-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ingham County Building Authority                                                 | INGHAM CNTY MI BLDG AUTH                                     | CUSIP: 457003KZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1485000 | PA      | $1286648.85   | 0.37%             | 2031-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| City of Gulfport MS                                                              | GULFPORT MS HOSP FAC REVENUE                                 | CUSIP: 402682CW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $351827.58    | 0.10%             | 2036-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Isle Wight County Industrial Development Authority                               | ISLE OF WIGHT CNTY VA ECON DEV AUTH                          | CUSIP: 464637AP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1076671.30   | 0.31%             | 2043-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| State of Rhode Island                                                            | RHODE ISLAND ST & PROVIDENCE PLANTATIONS LEASE COPS          | CUSIP: 76222WNE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    760000 | PA      | $766745.08    | 0.22%             | 2032-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| South Dakota Housing Development Authority                                       | SOUTH DAKOTA ST HSG DEV AUTH                                 | CUSIP: 83756CLE3<br>LEI: 549300G853EK61667C18 | Long             | DBT              | MUN               | US        |     30000 | PA      | $30000.00     | 0.01%             | 2025-05-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Kentucky State Property & Building Commission                                    | KENTUCKY ST PROPERTY & BLDGS COMMISSION REVENUES             | CUSIP: 49151FVN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $775921.05    | 0.22%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Grand Rapids Public Schools                                                      | GRAND RAPIDS MI PUBLIC SCHS                                  | CUSIP: 386280SG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $949070.41    | 0.27%             | 2037-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington Health Care Facilities Authority                                      | WASHINGTON ST HLTH CARE FACS AUTH                            | CUSIP: 93978HUV5<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |    150000 | PA      | $155147.85    | 0.04%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mahoning County Career & Technical Center Board of Education                     | MAHONING CNTY OH CAREER & TECH CENTER BRD EDU CTFS           | CUSIP: 56005LDE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $499692.30    | 0.14%             | 2029-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Grand CO                                                               | GRAND CNTY CO COPS                                           | CUSIP: 385301AU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    640000 | PA      | $662685.12    | 0.19%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tomorrow River School District                                                   | TOMORROW RIVER WI SCH DIST                                   | CUSIP: 890083DR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1910000 | PA      | $1865878.81   | 0.54%             | 2041-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Shelbyville Redevelopment Authority                                              | SHELBYVILLE IN REDEV AUTH LEASE RENTAL REVENUE               | CUSIP: 82222NBR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    910000 | PA      | $858740.06    | 0.25%             | 2030-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| McClain County Economic Development Authority                                    | MCCLAIN CNTY OK ECON DEV AUTH EDUCTNL FACS LEASE REVENUE     | CUSIP: 57947PEC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1981368.40   | 0.57%             | 2036-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Gerald R Ford International Airport Authority                                    | GERALD R FORD INTERNATIONAL ARPT AUTH MI REVENUE             | CUSIP: 373695BX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $529464.20    | 0.15%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Shreveport LA                                                            | SHREVEPORT LA                                                | CUSIP: 8254346F5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $538176.80    | 0.15%             | 2036-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wayne County Airport Authority                                                   | WAYNE CNTY MI ARPT AUTH REVENUE                              | CUSIP: 944514SU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2405841.84   | 0.69%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Whiteside & Lee Counties Community Unit School District No 5 Sterling            | WHITESIDE & LEE CNTYS IL CMNTY UNIT SCH DIST #5 STERLIN      | CUSIP: 965672FM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    690000 | PA      | $695611.56    | 0.20%             | 2033-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Harrisburg Redevelopment Authority/TX                                            | HARRISBURG REDEV AUTH TX TAX INCREMENT CONTRACT REVENUE      | CUSIP: 414832AL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $540391.30    | 0.16%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Mortgage Finance Authority                                            | NEW MEXICO ST MTGE FIN AUTH                                  | CUSIP: 647201RB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    520000 | PA      | $455635.23    | 0.13%             | 2032-03-01      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| Grand Traverse County Hospital Finance Authority                                 | GRAND TRAVERSE CNTY MI HOSP FIN AUTH                         | CUSIP: 386523GQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $464929.59    | 0.13%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Education Assistance Agency                                  | PENNSYLVANIA HGR EDU ASSISTANCE AGY LOAN REVENUE             | CUSIP: 70878CAL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    535000 | PA      | $551121.80    | 0.16%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                | SOUTHEAST ENERGY AUTH COOPERATIVE DIST AL ENERGY SUPPLY REVE | CUSIP: 84136HCF8<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5236686.50   | 1.50%             | 2055-05-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Florence County School District No 3                                             | FLORENCE CNTY SC SCH DIST #3 SPL OBLIG                       | CUSIP: 34015QAG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1020000 | PA      | $1095884.74   | 0.31%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Leflore County Public Facility Authority                                         | LEFLORE CNTY OK PUBLIC FAC AUTH EDU FAC LEASE REVENUE        | CUSIP: 52464GAU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1369270.31   | 0.39%             | 2028-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                                 | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 7092242G3<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    335000 | PA      | $327399.92    | 0.09%             | 2026-12-01      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| Maine Health & Higher Educational Facilities Authority                           | MAINE HLTH & HGR EDUCTNL FACS AUTH REVENUE                   | CUSIP: 56042RYD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1144858.81   | 0.33%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Maine State Housing Authority                                                    | MAINE ST HSG AUTH MTGE PURCHASE                              | CUSIP: 56052FNV3<br>LEI: 549300SO05LH6D240016 | Long             | DBT              | MUN               | US        |    835000 | PA      | $824888.23    | 0.24%             | 2025-11-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| Missouri Development Finance Board                                               | MISSOURI ST DEV FIN BRD INFRASTRUCTURE FACS REVENUE          | CUSIP: 60636SKL7<br>LEI: 549300JD8BCNBV9D3830 | Long             | DBT              | MUN               | US        |    850000 | PA      | $860720.12    | 0.25%             | 2028-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Wayne County Hospital & Health Facilities Authority                              | WAYNE CNTY PA HOSP & HLTH FACS AUTH CNTY GTD HOSP REVENUE    | CUSIP: 946016JQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $410716.92    | 0.12%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                       | MICHIGAN ST FIN AUTH REVENUE                                 | CUSIP: 59447TMN0<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5023224.50   | 1.44%             | 2041-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Clifton Higher Education Finance Corp                                            | CLIFTON TX HGR EDU FIN CORP EDU REVENUE                      | CUSIP: 187145SP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    975000 | PA      | $1057291.07   | 0.30%             | 2036-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Steel Valley School District                                                     | STEEL VLY PA SCH DIST ALLEGHENY CNTY                         | CUSIP: 858151MQ3<br>LEI: 549300BYA5FSMYFPGP34 | Long             | DBT              | MUN               | US        |   1695000 | PA      | $1797597.67   | 0.52%             | 2038-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dayton-Montgomery County Port Authority                                          | DAYTON-MONTGOMERY CNTY OH PORT AUTH DEV REVENUE              | CUSIP: 23981MAW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $310089.62    | 0.09%             | 2031-11-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Higher Education Student Assistance Authority                         | NEW JERSEY ST HGR EDU ASSISTANCE AUTH STUDENT LOAN REVENUE   | CUSIP: 646080XZ9<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |   2800000 | PA      | $2934186.36   | 0.84%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Housing Finance Corp                                                     | FLORIDA ST HSG FIN CORP REVENUE                              | CUSIP: 34074MSZ5<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |    515000 | PA      | $483623.73    | 0.14%             | 2028-07-01      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| Avon Redevelopment Authority                                                     | AVON IN REDEV AUTH LEASE RENT                                | CUSIP: 05408FAX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1010480.52   | 0.29%             | 2039-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Akron OH                                                                 | AKRON OH                                                     | CUSIP: 010033R42<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    545000 | PA      | $545704.36    | 0.16%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| General Authority of Southcentral Pennsylvania                                   | SOUTHCENTRL PA GEN AUTH REVENUE                              | CUSIP: 84129NMZ9<br>LEI: 549300QBNU5LBV4QX812 | Long             | DBT              | MUN               | US        |    225000 | PA      | $235569.69    | 0.07%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Montgomery & Bond Counties Community Unit School District No 3 Hillsboro         | MONTGOMERY & BOND CNTYS IL CMNTY UNIT SCH DIST #3            | CUSIP: 613001FU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2525000 | PA      | $2635961.38   | 0.76%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                            | PENNSYLVANIA ST ECON DEV FING AUTH UPMC REVENUE              | CUSIP: 70870JGG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $928738.60    | 0.27%             | 2041-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                        | INDIANA FIN AUTH EDUCTNL FACS REVENUE                        | CUSIP: 45470EEE1<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1237926.24   | 0.36%             | 2040-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Mortgage Finance Authority                                            | NEW MEXICO ST MTGE FIN AUTH                                  | CUSIP: 647201RC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $504768.01    | 0.15%             | 2032-09-01      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| Stark Knox Marshall Henry & Peoria Counties Community Unit School Dist No 100    | STARK KNOX & MARSHALL CNTYS IL CMNTY UNIT SCH DIST #100      | CUSIP: 855354DU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    860000 | PA      | $831890.38    | 0.24%             | 2038-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Middletown OH                                                            | MIDDLETOWN OH                                                | CUSIP: 597129DM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100382.22    | 0.03%             | 2025-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities & Community Development Auth | LOUISIANA ST LOCAL GOVT ENVRNMNTL FACS & CMNTY DEV AUTH REVE | CUSIP: 54628CJ60<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |    800000 | PA      | $819152.32    | 0.24%             | 2048-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Austin TX Airport System Revenue                                         | AUSTIN TX ARPT SYS REVENUE                                   | CUSIP: 052398EQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1900000 | PA      | $1900097.66   | 0.55%             | 2039-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Education Assistance Agency                                  | PENNSYLVANIA HGR EDU ASSISTANCE AGY LOAN REVENUE             | CUSIP: 70878CAM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $438475.05    | 0.13%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rhode Island Student Loan Authority                                              | RHODE ISLAND ST STUDENT LOAN AUTH LOAN REVENUE               | CUSIP: 762323DH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $785264.03    | 0.23%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Vermont Student Assistance Corp                                                  | VERMONT ST STUDENT ASSISTANCECORP EDU LOAN REVENUE           | CUSIP: 92428CLW2<br>LEI: 549300VHYVRSKNFRSZ91 | Long             | DBT              | MUN               | US        |    780000 | PA      | $794546.92    | 0.23%             | 2027-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Vermont Student Assistance Corp                                                  | VERMONT ST STUDENT ASSISTANCECORP EDU LOAN REVENUE           | CUSIP: 92428CMM3<br>LEI: 549300VHYVRSKNFRSZ91 | Long             | DBT              | MUN               | US        |    400000 | PA      | $411365.40    | 0.12%             | 2029-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORT SMITH AR WTR   SWR REVENU FTSUTL 10/31 FIXED 5                              | City of Fort Smith AR Water & Sewer Revenue                  | CUSIP: 348815PH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $521255.80    | 0.15%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| General Authority of Southcentral Pennsylvania                                   | SOUTHCENTRL PA GEN AUTH REVENUE                              | CUSIP: 84129NND7<br>LEI: 549300QBNU5LBV4QX812 | Long             | DBT              | MUN               | US        |    325000 | PA      | $322033.50    | 0.09%             | 2033-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Arlington Higher Education Finance Corp                                          | ARLINGTON TX HGR EDU FIN CORP EDU REVENUE                    | CUSIP: 041806NT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    485000 | PA      | $486380.50    | 0.14%             | 2032-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Village Community Development District No 10                                     | VLG CDD #10 FL SPL ASSMNT REVENUE                            | CUSIP: 92707CAZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2570000 | PA      | $2662446.76   | 0.77%             | 2041-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Housing Development Authority                                           | VIRGINIA ST HSG DEV AUTH                                     | CUSIP: 92812WMR2<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2523855.25   | 0.73%             | 2048-11-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| City of Milwaukee WI                                                             | MILWAUKEE WI                                                 | CUSIP: 602366P42<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2140308.20   | 0.61%             | 2035-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Village of Bellwood IL                                                           | BELLWOOD IL                                                  | CUSIP: 080023NX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1990000 | PA      | $2147695.16   | 0.62%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Development Authority for Fulton County                                          | FULTON CNTY GA DEV AUTH                                      | CUSIP: 3599006Y8<br>LEI: 549300533NJL38F4K144 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1013803.80   | 0.29%             | 2026-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pittsburgh Water & Sewer Authority                                               | PITTSBURGH PA WTR & SWR AUTH                                 | CUSIP: 725304XX2<br>LEI: 54930034DVH6W22T1E86 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1856093.23   | 0.53%             | 2041-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Village of Westchester IL                                                        | WESTCHESTER IL                                               | CUSIP: 957399EU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001749.60   | 0.29%             | 2034-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Colorado Housing and Finance Authority                                           | COLORADO ST HSG & FIN AUTH                                   | CUSIP: 196480FQ5<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | MUN               | US        |    250000 | PA      | $250000.00    | 0.07%             | 2025-05-01      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                             | PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE                | CUSIP: 70917TCY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $454308.57    | 0.13%             | 2042-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City & County of Denver CO Airport System Revenue                                | DENVER CITY & CNTY CO ARPT REVENUE                           | CUSIP: 249182TK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $544893.80    | 0.16%             | 2041-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| New Jersey Housing & Mortgage Finance Agency                                     | NEW JERSEY ST HSG & MTGE FIN AGY MF CONDUIT REVENUE          | CUSIP: 646127CE8<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |     85000 | PA      | $84940.64     | 0.02%             | 2025-06-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                                 | KENTUCKY ST PUBLIC ENERGY AUTH GAS SPLY REVENUE              | CUSIP: 74440DFJ8<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |    500000 | PA      | $515011.75    | 0.15%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                        | HOUSTON TX ARPT SYS REVENUE                                  | CUSIP: 442349FJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1050042.30   | 0.30%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chattanooga Health Educational & Housing Facility Board                          | CHATTANOOGA TN HLTH EDUCTNL & HSG FAC BRD                    | CUSIP: 162409AH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $532157.05    | 0.15%             | 2040-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Milledgeville & Baldwin County Development Authority                             | MILLEDGEVILLE & BALDWIN CNTY GA DEV AUTH REVENUE             | CUSIP: 60039GBA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $751639.21    | 0.22%             | 2033-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                        | HOUSTON TX ARPT SYS REVENUE                                  | CUSIP: 442349FK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $951038.28    | 0.27%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Midway International Airport                                             | CHICAGO IL MIDWAY ARPT REVENUE                               | CUSIP: 167562TY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1062763.50   | 0.31%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Municipal Electric Authority of Georgia                                          | MUNI ELEC AUTH OF GA                                         | CUSIP: 62620HJR4<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |   2375000 | PA      | $2623152.11   | 0.75%             | 2038-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Casino Reinvestment Development Authority Inc                                    | CASINO REINVESTMENT DEV AUTH NJ LUXURY TAX REVENUE           | CUSIP: 14760RCD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $547959.40    | 0.16%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port of Seattle WA                                                               | PORT OF SEATTLE WA REVENUE                                   | CUSIP: 735389ZZ4<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1505119.20   | 0.43%             | 2037-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Alaska Municipal Bond Bank Authority                                             | ALASKA ST MUNI BOND BANK AUTH                                | CUSIP: 01179RVB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006124.40   | 0.29%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Milledgeville & Baldwin County Development Authority                             | MILLEDGEVILLE & BALDWIN CNTY GA DEV AUTH REVENUE             | CUSIP: 60039GAZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $646832.70    | 0.19%             | 2032-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Development Authority of Cobb County/The                                         | COBB CNTY GA DEV AUTH LEASE REVENUE                          | CUSIP: 19078VAT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3036595.80   | 0.87%             | 2040-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Vermont Student Assistance Corp                                                  | VERMONT ST STUDENT ASSISTANCECORP EDU LOAN REVENUE           | CUSIP: 92428CMP6<br>LEI: 549300VHYVRSKNFRSZ91 | Long             | DBT              | MUN               | US        |    475000 | PA      | $489902.84    | 0.14%             | 2031-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Muskegon Public Schools                                                    | NORTH MUSKEGON MI PUBLIC SCHS                                | CUSIP: 661224KM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    315000 | PA      | $336394.42    | 0.10%             | 2040-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Youngstown State University                                                      | YOUNGSTOWN OH ST UNIV                                        | CUSIP: 987720FP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1153939.60   | 0.33%             | 2038-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Woodford Lasalle Livingston Etc Counties Community Unit Sch Dist No 6 Fieldcrest | WOODFORD LASALLE LIVINGSTON ETC CNTYS IL CMNTY UNIT SCH DIST | CUSIP: 979412BT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $706549.13    | 0.20%             | 2032-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                                 | KENTUCKY ST PUBLIC ENERGY AUTH GAS SPLY REVENUE              | CUSIP: 74440DFL3<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |    700000 | PA      | $726415.48    | 0.21%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ohio Housing Finance Agency                                                      | OHIO ST HSG FIN AGY RSDL MTGE REVENUE                        | CUSIP: 67756UBS6<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |    500000 | PA      | $574999.35    | 0.17%             | 2031-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| South Dakota Health & Educational Facilities Authority                           | SOUTH DAKOTA ST HLTH & EDUCTNL FACS AUTH                     | CUSIP: 83755VC44<br>LEI: 549300ZW6LKR8UI2C378 | Long             | DBT              | MUN               | US        |    605000 | PA      | $607691.40    | 0.17%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maine State Housing Authority                                                    | MAINE ST HSG AUTH MTGE PURCHASE                              | CUSIP: 56052FNW1<br>LEI: 549300SO05LH6D240016 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $970337.60    | 0.28%             | 2026-11-15      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                            | PENNSYLVANIA ST ECON DEV FING AUTH UPMC REVENUE              | CUSIP: 70870JCF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3145000 | PA      | $3015970.09   | 0.87%             | 2038-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Higher Education Facilities Authority                                  | MINNESOTA ST HGR EDU FACS AUTH REVENUE                       | CUSIP: 60416HV27<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1265000 | PA      | $1278468.58   | 0.37%             | 2035-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rhode Island Student Loan Authority                                              | RHODE ISLAND ST STUDENT LOAN AUTH LOAN REVENUE               | CUSIP: 762323DK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $784213.35    | 0.23%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Grand CO                                                               | GRAND CNTY CO COPS                                           | CUSIP: 385301AP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $539410.40    | 0.15%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Nez Perce ID                                                           | NEZ PERCE CNTY ID ANNUAL APPROP COPS                         | CUSIP: 65344YAL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1089892.80   | 0.31%             | 2037-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Monessen School District                                                         | MONESSEN PA SCH DIST                                         | CUSIP: 609269HU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    660000 | PA      | $708120.67    | 0.20%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Berwick Area School District                                                     | BERWICK PA AREA SCH DIST                                     | CUSIP: 086187NN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    345000 | PA      | $314209.92    | 0.09%             | 2034-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MAINE ST HSG AUTH MTGE PURCHAS MESHSG 11/29 FIXED 2.15                           | Maine State Housing Authority                                | CUSIP: 56052FQJ7<br>LEI: 549300SO05LH6D240016 | Long             | DBT              | MUN               | US        |    840000 | PA      | $770001.29    | 0.22%             | 2029-11-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| Steel Valley School District                                                     | STEEL VLY PA SCH DIST ALLEGHENY CNTY                         | CUSIP: 858151MS9<br>LEI: 549300BYA5FSMYFPGP34 | Long             | DBT              | MUN               | US        |    840000 | PA      | $879432.96    | 0.25%             | 2040-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State Higher Education Supplement Loan Authority                     | CONNECTICUT ST HGR EDU SUPPLEMENT LOAN AUTH REVENUE          | CUSIP: 207743WE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | PA      | $337235.75    | 0.10%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IPS Multi-School Building Corp                                                   | IPS MULTI-SCH BLDG CORP IN                                   | CUSIP: 46263RRL1<br>LEI: 549300BHLK1DUJUYPM91 | Long             | DBT              | MUN               | US        |   1685000 | PA      | $1838313.26   | 0.53%             | 2040-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Gerald R Ford International Airport Authority                                    | GERALD R FORD INTERNATIONAL ARPT AUTH MI REVENUE             | CUSIP: 373695BY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $526475.30    | 0.15%             | 2039-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Monessen School District                                                         | MONESSEN PA SCH DIST                                         | CUSIP: 609269HZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    845000 | PA      | $883884.87    | 0.25%             | 2040-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Toledo-Lucas County Port Authority                                               | TOLEDO-LUCAS CNTY OH PORT AUTH DEV REVENUE                   | CUSIP: 889251HK3<br>LEI: 549300H1LURZO4MT2Q75 | Long             | DBT              | MUN               | US        |    365000 | PA      | $311368.91    | 0.09%             | 2031-11-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Florence County School District No 3                                             | FLORENCE CNTY SC SCH DIST #3 SPL OBLIG                       | CUSIP: 34015QAH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $539418.45    | 0.15%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Benton AR Municipal Light & Water Works                                  | BENTON AR PUBLIC UTILITY REVENUE                             | CUSIP: 082766LP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $241308.30    | 0.07%             | 2027-09-01      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| Florence County School District No 3                                             | FLORENCE CNTY SC SCH DIST #3 SPL OBLIG                       | CUSIP: 34015QAK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    590000 | PA      | $639228.24    | 0.18%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Adams County Communication Center Authority                                      | ADAMS CNTY CO COMMUNICATIONS CENTER AUTH COPS                | CUSIP: 005602AL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $538455.50    | 0.15%             | 2036-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Grand Blanc Community Schools                                                    | GRAND BLANC MI CMNTY SCHS                                    | CUSIP: 385244LX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 0.14%             | 2025-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                                     | MISSISSIPPI ST DEV BANK SPL OBLG                             | CUSIP: 60534WRC4<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |    300000 | PA      | $298503.00    | 0.09%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                                 | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 7092242K4<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    350000 | PA      | $330008.98    | 0.09%             | 2029-12-01      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| City of Bryan TX Electric System Revenue                                         | BRYAN TX ELEC SYS REVENUE                                    | CUSIP: 117569HM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    960000 | PA      | $962244.00    | 0.28%             | 2031-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                      | WASHINGTON ST HSG FIN COMMISSION                             | CUSIP: 93978TTD1<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    290000 | PA      | $283518.85    | 0.08%             | 2030-12-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Steel Valley School District                                                     | STEEL VLY PA SCH DIST ALLEGHENY CNTY                         | CUSIP: 858151MP5<br>LEI: 549300BYA5FSMYFPGP34 | Long             | DBT              | MUN               | US        |    850000 | PA      | $902447.30    | 0.26%             | 2037-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| General Authority of Southcentral Pennsylvania                                   | SOUTHCENTRL PA GEN AUTH REVENUE                              | CUSIP: 84129NNC9<br>LEI: 549300QBNU5LBV4QX812 | Long             | DBT              | MUN               | US        |    325000 | PA      | $323836.31    | 0.09%             | 2032-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Governors State University                                                       | GOVERNORS IL ST UNIV UNIV FACS SYS REVENUE                   | CUSIP: 38378RCC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    805000 | PA      | $781485.55    | 0.22%             | 2034-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Dayton City School District                                                      | DAYTON OH CITY SCH DIST COPS                                 | CUSIP: 239851CM8<br>LEI: 549300TTX7U8C4ZEA712 | Long             | DBT              | MUN               | US        |    610000 | PA      | $621457.94    | 0.18%             | 2030-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Woodford Lasalle Livingston Etc Counties Community Unit Sch Dist No 6 Fieldcrest | WOODFORD LASALLE LIVINGSTON ETC CNTYS IL CMNTY UNIT SCH DIST | CUSIP: 979412BU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $728168.03    | 0.21%             | 2033-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| General Authority of Southcentral Pennsylvania                                   | SOUTHCENTRL PA GEN AUTH REVENUE                              | CUSIP: 84129NNB1<br>LEI: 549300QBNU5LBV4QX812 | Long             | DBT              | MUN               | US        |    375000 | PA      | $399116.81    | 0.11%             | 2031-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Youngstown State University                                                      | YOUNGSTOWN OH ST UNIV                                        | CUSIP: 987720FN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    535000 | PA      | $572104.28    | 0.16%             | 2037-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Grand Rapids Public Schools                                                      | GRAND RAPIDS MI PUBLIC SCHS                                  | CUSIP: 386280SH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $810110.40    | 0.23%             | 2038-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greeneville Health & Educational Facilities Board                                | GREENEVILLE TN HLTH & EDUCTNL FACS BRD HOSP REVENUE          | CUSIP: 396649EN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $517684.40    | 0.15%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Leflore County Public Facility Authority                                         | LEFLORE CNTY OK PUBLIC FAC AUTH EDU FAC LEASE REVENUE        | CUSIP: 52464GAV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1770000 | PA      | $1800232.84   | 0.52%             | 2030-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Dallas Fort Worth International Airport                                          | DALLAS-FORT WORTH TX INTERNATIONAL ARPT REVENUE              | CUSIP: 23503CCZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1071953.20   | 0.31%             | 2039-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Governors State University                                                       | GOVERNORS IL ST UNIV UNIV FACS SYS REVENUE                   | CUSIP: 38378RCD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    855000 | PA      | $815370.32    | 0.23%             | 2036-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Dayton City School District                                                      | DAYTON OH CITY SCH DIST COPS                                 | CUSIP: 239851CQ9<br>LEI: 549300TTX7U8C4ZEA712 | Long             | DBT              | MUN               | US        |    675000 | PA      | $612278.26    | 0.18%             | 2033-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Clarion County Industrial Development Authority                                  | CLARION CNTY PA INDL DEV AUTH LEASE REV                      | CUSIP: 18052JAD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    555000 | PA      | $599599.25    | 0.17%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Martinsville Redevelopment Authority                                             | MARTINSVILLE IN REDEV AUTH LEASE RENT REVENUE                | CUSIP: 57369KAX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    565000 | PA      | $519974.42    | 0.15%             | 2033-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Steel Valley School District                                                     | STEEL VLY PA SCH DIST ALLEGHENY CNTY                         | CUSIP: 858151MT7<br>LEI: 549300BYA5FSMYFPGP34 | Long             | DBT              | MUN               | US        |    885000 | PA      | $918179.09    | 0.26%             | 2041-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Milledgeville & Baldwin County Development Authority                             | MILLEDGEVILLE & BALDWIN CNTY GA DEV AUTH REVENUE             | CUSIP: 60039GAY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $543610.95    | 0.16%             | 2031-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Miami Valley Career Technology Center                                            | MIAMI VLY CAREER TECH CENTER OH                              | CUSIP: 593842CL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2245000 | PA      | $2222551.12   | 0.64%             | 2036-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                            | LOUISIANA ST PUBLIC FACS AUTHREVENUE                         | CUSIP: 5463983A4<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    800000 | PA      | $800813.28    | 0.23%             | 2030-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Vinton-Tecumseh School Building Corp                                             | VINTON-TECUMSEH IN SCH BLDG CORP                             | CUSIP: 927557MT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $516390.95    | 0.15%             | 2031-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Shreveport LA                                                            | SHREVEPORT LA                                                | CUSIP: 8254346H1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $878508.51    | 0.25%             | 2038-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Vinton-Tecumseh School Building Corp                                             | VINTON-TECUMSEH IN SCH BLDG CORP                             | CUSIP: 927557MU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $515815.40    | 0.15%             | 2032-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan State Housing Development Authority                                     | MICHIGAN ST HSG DEV AUTH RENTAL HSG REVENUE                  | CUSIP: 59465MZ81<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |    410000 | PA      | $392262.58    | 0.11%             | 2028-10-01      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| County of Broward FL Port Facilities Revenue                                     | BROWARD CNTY FL PORT FACS REVENUE                            | CUSIP: 11506KEB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    620000 | PA      | $654929.68    | 0.19%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Gulfport MS                                                              | GULFPORT MS HOSP FAC REVENUE                                 | CUSIP: 402682CY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $536372.95    | 0.15%             | 2038-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Racine Unified School District                                                   | RACINE WI UNIF SCH DIST                                      | CUSIP: 750046TG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1275000 | PA      | $1360668.78   | 0.39%             | 2039-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Home Corp                                                            | MISSISSIPPI ST HOME CORP SF MTGE REVENUE                     | CUSIP: 60535QZE3<br>LEI: 549300FFY35B829JR607 | Long             | DBT              | MUN               | US        |    690000 | PA      | $596738.63    | 0.17%             | 2030-12-01      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| City of Las Cruces NM Joint Utility Revenue                                      | LAS CRUCES NM JT UTILITY REVENUE                             | CUSIP: 517496HK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $501604.30    | 0.14%             | 2033-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fort Wayne Redevelopment Authority                                               | FORT WAYNE IN REDEV AUTH LEASE RENTAL REVENUE                | CUSIP: 349288JN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1935000 | PA      | $1904396.23   | 0.55%             | 2036-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Owensboro KY                                                             | OWENSBORO KY                                                 | CUSIP: 690887MD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    615000 | PA      | $615000.00    | 0.18%             | 2025-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florence County School District No 3                                             | FLORENCE CNTY SC SCH DIST #3 SPL OBLIG                       | CUSIP: 34015QAM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1388818.47   | 0.40%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Lake Havasu City AZ Wastewater System Revenue                            | LAKE HAVASU CITY AZ WSTWTR SYS REVENUE                       | CUSIP: 50989RAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1095000 | PA      | $1097683.74   | 0.32%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Mississippi Gaming Tax Revenue                                          | MISSISSIPPI ST GAMING TAX REVENUE                            | CUSIP: 605638AK1<br>LEI: 549300JRWW5RFQUB7P94 | Long             | DBT              | MUN               | US        |   1055000 | PA      | $1062294.16   | 0.31%             | 2025-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Mortgage Finance Authority                                            | NEW MEXICO ST MTGE FIN AUTH                                  | CUSIP: 647201QZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    775000 | PA      | $668921.33    | 0.19%             | 2031-03-01      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| Village of Westchester IL                                                        | WESTCHESTER IL                                               | CUSIP: 957399EW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1825000 | PA      | $1779278.46   | 0.51%             | 2038-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Wayne County Hospital & Health Facilities Authority                              | WAYNE CNTY PA HOSP & HLTH FACS AUTH CNTY GTD HOSP REVENUE    | CUSIP: 946016JP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    520000 | PA      | $527723.61    | 0.15%             | 2027-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Oklahoma Capitol Improvement Authority                                           | OKLAHOMA ST CAPITOL IMPT AUTHST FACS REVENUE                 | CUSIP: 679088MN1<br>LEI: 549300LYHYBINTZ5AY71 | Long             | DBT              | MUN               | US        |     25000 | PA      | $25667.02     | 0.01%             | 2038-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Wayne County Airport Authority                                                   | WAYNE CNTY MI ARPT AUTH REVENUE                              | CUSIP: 944514UD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2625000 | PA      | $2631389.51   | 0.76%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Racine Unified School District                                                   | RACINE WI UNIF SCH DIST                                      | CUSIP: 750046TH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $956588.58    | 0.27%             | 2040-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado Housing and Finance Authority                                           | COLORADO ST HSG & FIN AUTH                                   | CUSIP: 196480FR3<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | MUN               | US        |    250000 | PA      | $247445.35    | 0.07%             | 2025-11-01      | Fixed         | 2.17%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                        | INDIANA FIN AUTH EDUCTNL FACS REVENUE                        | CUSIP: 45470EED3<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1505000 | PA      | $1562354.80   | 0.45%             | 2039-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Rolling Meadows IL                                                       | ROLLING MEADOWS IL                                           | CUSIP: 775694LM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    535000 | PA      | $525088.38    | 0.15%             | 2036-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Mitchell School District No 17-2                                                 | MITCHELL SD SCH DIST #17-2                                   | CUSIP: 606687KK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1745000 | PA      | $1830276.23   | 0.53%             | 2038-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                             | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648A7J8<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1770000 | PA      | $1754140.80   | 0.50%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Village Community Development District No 10                                     | VLG CDD #10 FL SPL ASSMNT REVENUE                            | CUSIP: 92707CBA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1220000 | PA      | $1256147.26   | 0.36%             | 2042-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pittsburgh Water & Sewer Authority                                               | PITTSBURGH PA WTR & SWR AUTH                                 | CUSIP: 725304XW4<br>LEI: 54930034DVH6W22T1E86 | Long             | DBT              | MUN               | US        |    800000 | PA      | $855359.92    | 0.25%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Avon Redevelopment Authority                                                     | AVON IN REDEV AUTH LEASE RENT                                | CUSIP: 05408FAW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1030423.07   | 0.30%             | 2038-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Rhode Island Health and Educational Building Corp                                | RHODE ISLAND HLTH & EDUCTNL BLDG CORP PUBLIC SCHS REVENUE    | CUSIP: 76219MAN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1460918.57   | 0.42%             | 2040-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Upper Mohawk Valley Memorial Auditorium Authority                                | UPPER MOHAWK VLY NY MEMORIAL AUDITORIUM AUTH REVENUE         | CUSIP: 916087AW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    915000 | PA      | $794657.19    | 0.23%             | 2033-12-01      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                                     | MISSISSIPPI DEV BK SPL OBLIG                                 | CUSIP: 60534XQB5<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1473536.40   | 0.42%             | 2037-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chisholm Creek Utility Authority                                                 | CHISHOLM CREEK KS UTILITY AUTH WTR & WSTWTR FACS REVENUE     | CUSIP: 170123EA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1078606.20   | 0.31%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chattanooga Health Educational & Housing Facility Board                          | CHATTANOOGA TN HLTH EDUCTNL & HSG FAC BRD                    | CUSIP: 162409AJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $846564.08    | 0.24%             | 2041-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                         | ARIZONA ST INDL DEV AUTH NATIONAL CHRT SCH REVOLVING LOAN FD | CUSIP: 04052FDM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2285000 | PA      | $2142615.02   | 0.62%             | 2039-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                                 | MINNESOTA ST HSG FIN AGY                                     | CUSIP: 60416S3K4<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    230000 | PA      | $222438.43    | 0.06%             | 2026-07-01      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| Mississippi Home Corp                                                            | MISSISSIPPI ST HOME CORP SF MTGE REVENUE                     | CUSIP: 60535QZD5<br>LEI: 549300FFY35B829JR607 | Long             | DBT              | MUN               | US        |    720000 | PA      | $630245.38    | 0.18%             | 2030-06-01      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| Peters Township School District Washington County                                | PETERS TWP PA SCH DIST WASHINGTON CNTY                       | CUSIP: 716090WZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $988605.20    | 0.28%             | 2036-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| General Authority of Southcentral Pennsylvania                                   | SOUTHCENTRL PA GEN AUTH REVENUE                              | CUSIP: 84129NNE5<br>LEI: 549300QBNU5LBV4QX812 | Long             | DBT              | MUN               | US        |    300000 | PA      | $295395.15    | 0.08%             | 2034-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Bucks County Technical School Authority                                          | BUCKS CNTY PA TECH SCH AUTH                                  | CUSIP: 118655BV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $459219.03    | 0.13%             | 2033-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| South Suburban Park & Recreation District                                        | SOUTH SUBURBAN PARK & RECREATION DIST CO COPS                | CUSIP: 84049EBN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1139309.26   | 0.33%             | 2041-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State Higher Education Supplement Loan Authority                     | CONNECTICUT ST HGR EDU SUPPLEMENT LOAN AUTH REVENUE          | CUSIP: 207743WH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    385000 | PA      | $400269.99    | 0.12%             | 2030-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Griffith Redevelopment Authority                                                 | GRIFFITH IN REDEV AUTH LEASE RENT REVENUE                    | CUSIP: 398346DP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $529538.55    | 0.15%             | 2033-07-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Clifton Higher Education Finance Corp                                            | CLIFTON TX HGR EDU FIN CORP EDU REVENUE                      | CUSIP: 187145SM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1288935.64   | 0.37%             | 2034-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port of Greater Cincinnati Development Authority                                 | PORT OF GTR CINCINNATI DEV AUTH OH REVENUE                   | CUSIP: 734195DT4<br>LEI: 549300IK2RCZBY62ST97 | Long             | DBT              | MUN               | US        |   2305000 | PA      | $2472694.05   | 0.71%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greeneville Health & Educational Facilities Board                                | GREENEVILLE TN HLTH & EDUCTNL FACS BRD HOSP REVENUE          | CUSIP: 396649EL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $522461.60    | 0.15%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Milledgeville & Baldwin County Development Authority                             | MILLEDGEVILLE & BALDWIN CNTY GA DEV AUTH REVENUE             | CUSIP: 60039GAX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $538535.70    | 0.15%             | 2030-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Milwaukee WI                                                             | MILWAUKEE WI                                                 | CUSIP: 602366U95<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2580000 | PA      | $2538043.52   | 0.73%             | 2035-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Vermont Student Assistance Corp                                                  | VERMONT ST STUDENT ASSISTANCECORP EDU LOAN REVENUE           | CUSIP: 92428CLV4<br>LEI: 549300VHYVRSKNFRSZ91 | Long             | DBT              | MUN               | US        |    400000 | PA      | $405207.28    | 0.12%             | 2026-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                                 | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709224J83<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3130045.20   | 0.90%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Housing Finance Corp                                                     | FLORIDA ST HSG FIN CORP REVENUE                              | CUSIP: 34074MSY8<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |    495000 | PA      | $468499.53    | 0.13%             | 2028-01-01      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| Steel Valley School District                                                     | STEEL VLY PA SCH DIST ALLEGHENY CNTY                         | CUSIP: 858151MR1<br>LEI: 549300BYA5FSMYFPGP34 | Long             | DBT              | MUN               | US        |    650000 | PA      | $685005.30    | 0.20%             | 2039-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Wichita KS                                                               | WICHITA KS SALES TAX SPL OBLIG REVENUE                       | CUSIP: 967323AS5<br>LEI: 549300Y20JVN3VP2V718 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1034702.40   | 0.30%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Boulder Valley School District No Re-2 Boulder                                   | BOULDER VLY CO SCH DIST #RE-2 BOULDER                        | CUSIP: 101547UW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3751745.25   | 1.08%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Akron OH                                                                 | AKRON OH COPS                                                | CUSIP: 010047EV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    960000 | PA      | $964006.46    | 0.28%             | 2031-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Kentucky State Property & Building Commission                                    | KENTUCKY ST PROPERTY & BLDGS COMMISSION REVENUES             | CUSIP: 49151FYC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    885000 | PA      | $936083.70    | 0.27%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Warren MS                                                              | WARREN CNTY MS COPS                                          | CUSIP: 935019AS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1127619.80   | 0.32%             | 2040-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                        | INDIANA ST FIN AUTH HOSP REVENUE                             | CUSIP: 45471ATR3<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    830000 | PA      | $841244.34    | 0.24%             | 2031-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Whitestown Redevelopment Authority                                               | WHITESTOWN IN REDEV AUTH LEASE RENTAL REVENUE                | CUSIP: 966100EF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1670000 | PA      | $1562063.06   | 0.45%             | 2034-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Murray County Educational Facilities Authority                                   | MURRAY CNTY EDUCTNL FACS AUTH OK EDUCTNL FACS LEASE REVENUE  | CUSIP: 627035AM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2580000 | PA      | $2640209.98   | 0.76%             | 2042-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mahoning County Career & Technical Center Board of Education                     | MAHONING CNTY OH CAREER & TECH CENTER BRD EDU CTFS           | CUSIP: 56005LDB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    630000 | PA      | $630287.41    | 0.18%             | 2026-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Gainesville & Hall County Hospital Authority                                     | GAINESVILLE & HALL CNTY GA HOSP AUTH                         | CUSIP: 362762PQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1640883.69   | 0.47%             | 2039-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Clarion County Industrial Development Authority                                  | CLARION CNTY PA INDL DEV AUTH LEASE REV                      | CUSIP: 18052JAE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    580000 | PA      | $628997.24    | 0.18%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florence County School District No 3                                             | FLORENCE CNTY SC SCH DIST #3 SPL OBLIG                       | CUSIP: 34015QAL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    620000 | PA      | $667075.24    | 0.19%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Forrest City AR Sales & Use Tax Revenue                                  | FORREST CITY AR SALES & USE TAX                              | CUSIP: 346461AX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $642848.87    | 0.18%             | 2030-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| City of Gulfport MS                                                              | GULFPORT MS HOSP FAC REVENUE                                 | CUSIP: 402682CV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $320793.42    | 0.09%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port of Seattle WA                                                               | PORT SEATTLE WA SPL FAC REVENUE                              | CUSIP: 735397CM1<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |    900000 | PA      | $900351.81    | 0.26%             | 2026-06-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Vermont Student Assistance Corp                                                  | VERMONT ST STUDENT ASSISTANCECORP EDU LOAN REVENUE           | CUSIP: 92428CMN1<br>LEI: 549300VHYVRSKNFRSZ91 | Long             | DBT              | MUN               | US        |    455000 | PA      | $468864.44    | 0.13%             | 2030-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State Higher Education Supplement Loan Authority                     | CONNECTICUT ST HGR EDU SUPPLEMENT LOAN AUTH REVENUE          | CUSIP: 207743WG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $466284.65    | 0.13%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Middletown OH                                                            | MIDDLETOWN OH                                                | CUSIP: 597129DP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $115029.52    | 0.03%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Martinsville Redevelopment Authority                                             | MARTINSVILLE IN REDEV AUTH LEASE RENT REVENUE                | CUSIP: 57369KAY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $357500.00    | 0.10%             | 2035-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Home Corp                                                            | MISSISSIPPI ST HOME CORP SF MTGE REVENUE                     | CUSIP: 60535QZF0<br>LEI: 549300FFY35B829JR607 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $861546.10    | 0.25%             | 2031-06-01      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| Whiteside & Lee Counties Community Unit School District No 5 Sterling            | WHITESIDE & LEE CNTYS IL CMNTY UNIT SCH DIST #5 STERLIN      | CUSIP: 965672FN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    660000 | PA      | $661154.74    | 0.19%             | 2034-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                              | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                  | CUSIP: 70879QET6<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |    795000 | PA      | $718970.18    | 0.21%             | 2030-10-01      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| Cook County School District No 63 East Maine                                     | COOK CNTY IL SCH DIST #63 EAST MAINE                         | CUSIP: 213651MZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1460000 | PA      | $1461479.42   | 0.42%             | 2034-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Grand Traverse County Hospital Finance Authority                                 | GRAND TRAVERSE CNTY MI HOSP FIN AUTH                         | CUSIP: 386523HK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    380000 | PA      | $396643.24    | 0.11%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Winnebago IL                                                           | WINNEBAGO CNTY IL                                            | CUSIP: 974450M70<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    960000 | PA      | $1018356.29   | 0.29%             | 2029-12-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arlington Higher Education Finance Corp                                          | ARLINGTON TX HGR EDU FIN CORP EDU REVENUE                    | CUSIP: 041807FB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1062669.60   | 0.31%             | 2040-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Correctional Facilities Corp                                           | LOUISIANA ST CORRNL FACS CORP LEASE REVENUE                  | CUSIP: 546458EB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    545000 | PA      | $580471.71    | 0.17%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Brownsville TX Utilities System Revenue                                  | BROWNSVILLE TX UTILITY SYS REVENUE                           | CUSIP: 1164753K8<br>LEI: 549300ZLUVMJ8K0OEK50 | Long             | DBT              | MUN               | US        |    500000 | PA      | $516670.75    | 0.15%             | 2042-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rhode Island Housing & Mortgage Finance Corp                                     | RHODE ISLAND ST HSG & MTGE FIN CORP                          | CUSIP: 76221RU84<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |   2025000 | PA      | $1764294.62   | 0.51%             | 2032-04-01      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| Sarpy County Hospital Authority No 1                                             | SARPY CNTY NE HOSP AUTH #1 HLTH FACS REVENUE                 | CUSIP: 80372PAU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $25546.58     | 0.01%             | 2046-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Housing Finance Agency                                            | NORTH CAROLINA ST HSG FIN AGY HOMEOWNERSHIP REVENUE          | CUSIP: 658207UX1<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |    585000 | PA      | $577531.19    | 0.17%             | 2029-01-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                        | INDIANA FIN AUTH EDUCTNL FACS REVENUE                        | CUSIP: 45470EEC5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1435000 | PA      | $1502477.57   | 0.43%             | 2038-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Muskegon Public Schools                                                    | NORTH MUSKEGON MI PUBLIC SCHS                                | CUSIP: 661224KN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    580000 | PA      | $607863.08    | 0.17%             | 2044-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| St Johns County School Board                                                     | SAINT JOHNS CNTY FL SCH BRD COPS                             | CUSIP: 790409HN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1272766.80   | 0.37%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greater Texoma Utility Authority                                                 | GTR TEXOMA TX UTILITY AUTH CONTRACT REVENUE                  | CUSIP: 39239HZE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2515000 | PA      | $2410008.31   | 0.69%             | 2039-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade FL Transit System                                           | MIAMI-DADE CNTY FL TRANSIT SALES SURTAX REVENUE              | CUSIP: 59334PGH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2210000 | PA      | $2210741.01   | 0.64%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Clarion County Industrial Development Authority                                  | CLARION CNTY PA INDL DEV AUTH LEASE REV                      | CUSIP: 18052JAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $569130.80    | 0.16%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Missouri Development Finance Board                                               | MISSOURI ST DEV FIN BRD INFRASTRUCTURE FACS REVENUE          | CUSIP: 60636SKM5<br>LEI: 549300JD8BCNBV9D3830 | Long             | DBT              | MUN               | US        |   1825000 | PA      | $1848584.11   | 0.53%             | 2029-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Celina TX                                                                | CELINA TX                                                    | CUSIP: 151141SV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    980000 | PA      | $983932.35    | 0.28%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State Street Institutional US Government Money Market Fund                       | State Street Institutional US Government Money Market Fund   | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | EC               | RF                | US        |  15239079 | NS      | $15239079.33  | 4.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PGJ8<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1170000 | PA      | $1161755.48   | 0.33%             | 2029-07-01      | Fixed         | 4.08%                 | No            |                  2 | On Loan: No      |
| Connecticut State Higher Education Supplement Loan Authority                     | CONNECTICUT ST HGR EDU SUPPLEMENT LOAN AUTH REVENUE          | CUSIP: 207743WF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $464105.66    | 0.13%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | ILLINOIS ST FIN AUTH REVENUE                                 | CUSIP: 45204FTU9<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    750000 | PA      | $775268.70    | 0.22%             | 2042-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Muskegon Public Schools                                                    | NORTH MUSKEGON MI PUBLIC SCHS                                | CUSIP: 661224KL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $216975.94    | 0.06%             | 2038-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                        | INDIANA ST FIN AUTH REVENUE                                  | CUSIP: 45506DTN5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1303497.65   | 0.37%             | 2034-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                        | INDIANA ST FIN AUTH HLTH FAC REVENUE                         | CUSIP: 45471CDD7<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1066347.40   | 0.31%             | 2035-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arlington Higher Education Finance Corp                                          | ARLINGTON TX HGR EDU FIN CORP EDU REVENUE                    | CUSIP: 041807FA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1283568.48   | 0.37%             | 2039-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wayne County Hospital & Health Facilities Authority                              | WAYNE CNTY PA HOSP & HLTH FACS AUTH CNTY GTD HOSP REVENUE    | CUSIP: 946016JV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $498931.00    | 0.14%             | 2033-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Union NJ                                                               | UNION CNTY NJ                                                | CUSIP: 90634PKQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $579588.48    | 0.17%             | 2027-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| City of Hazard KY                                                                | HAZARD KY HLTHCARE REVENUE                                   | CUSIP: 421381AN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1695000 | PA      | $1780563.77   | 0.51%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| General Authority of Southcentral Pennsylvania                                   | SOUTHCENTRL PA GEN AUTH REVENUE                              | CUSIP: 84129NNA3<br>LEI: 549300QBNU5LBV4QX812 | Long             | DBT              | MUN               | US        |    400000 | PA      | $422304.00    | 0.12%             | 2030-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-16

**Name of Applicant:** COMMERCE FUNDS

**Signature:** Bill Schuetter

**Name of Signer:** Bill Schuetter

**Title:** President