# EDGAR Filing Document

**Accession Number:** 0000916620
**File Stem:** 0002066578-25-001586
**Filing Date:** 2025-11
**Character Count:** 187804
**Document Hash:** b6153625e4778f4a503e327199fa8166
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002066578-25-001586.hdr.sgml**: 20251121

**ACCESSION NUMBER**: 0002066578-25-001586

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251121

**DATE AS OF CHANGE**: 20251121

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NORTHERN FUNDS
- **CENTRAL INDEX KEY:** 0000916620

**ORGANIZATION NAME:**
- **EIN:** 391777365
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08236
- **FILM NUMBER:** 251506549

**BUSINESS ADDRESS:**
- **STREET 1:** NORTHERN FUNDS
- **STREET 2:** 50 SOUTH LASALLE STREET
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60603
- **BUSINESS PHONE:** 800-595-9111

**MAIL ADDRESS:**
- **STREET 1:** NORTHERN FUNDS
- **STREET 2:** 50 SOUTH LASALLE STREET
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60603

## Series and Classes Contracts Data

### TAX-ADVANTAGED ULTRA-SHORT FIXED INCOME FUND (Series ID: S000025873)

| Class ID   | Class Name                                   | Ticker Symbol   |
|:---|:---|:---|
| C000077367 | TAX-ADVANTAGED ULTRA-SHORT FIXED INCOME FUND | NTAUX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Northern Funds

- **b. Investment Company Act file number:** 811-08236

- **c. CIK number of Registrant:** 0000916620

- **d. LEI of Registrant:** 5493004ZY1PEJR3C0A81

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

  - **Street Address 1:** 50 South LaSalle Street

  - **City:** Chicago

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60603

  - **Telephone number:** 800-595-9111

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

- **a. Name of Series:** Tax-Advantaged Ultra-Short Fixed Income Fund

- **b. EDGAR series identifier (if any):** S000025873

- **c. LEI of Series:** 5493005B469YICS80F51

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-09-30

**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:** $3227301070.03

**Total Liabilities:** $111863841.14

**Net Assets:** $3115437228.89

**Delayed Delivery Securities:** $110037533.52

**Cash Not Reported:** $1955.19

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 42256.376824885286 | **1-Year:** 248482.636031442997 | **5-Year:** 102371.429484655704 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

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

- **3-Month:** 5507.953111659747 | **1-Year:** 12975.433986703942 | **5-Year:** 2680.025914442360 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000077367 | 0.45%                | 0.35%                | 0.15%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-89271.61               | $4681855.14                                |
| Month 2  | $843886.62               | $2594736.43                                |
| Month 3  | $542830.29               | $-3893234.95                               |

**Designated Index Information**

- **Index Name:** 75% MLMUN6-12M / 25% MLMUN13YGO

- **Index Identifier:** MMUN1Y75GO

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| UNIVERSITY OF KENTU 3.00% | UNIVERSITY OF KENTU 3.00% | CUSIP: 914378PL2<br>LEI: 549300CXE3YQ1HXYCQ71 | Long             | DBT              | MUN               | US        |   2105000 | PA      | $2107254.88   | 0.07%             | 2026-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC 5.25% | NEW JERSEY ECONOMIC 5.25% | CUSIP: 64577B6K5<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5118666.00   | 0.16%             | 2026-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ORLANDO UTILITIES C 5.00% | ORLANDO UTILITIES C 5.00% | CUSIP: 686507GB4<br>LEI: 549300EJR7JVMRXL5D66 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3000000.00   | 0.10%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP. 6.45% | AERCAP IRELAND CAP. 6.45% | CUSIP: 00774MBG9<br>LEI: 549300TI38531ODB1G63 | Long             | DBT              | CORP              | IE        |   5000000 | PA      | $5156331.15   | 0.17%             | 2027-04-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| BMW US CAP. LLC FRN       | BMW US CAP. LLC FRN       | CUSIP: 05565EDE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1707515.67   | 0.05%             | 2027-08-11      | Floating      | 5.06%                 | Yes           |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA/T F2F | BANK OF NOVA SCOTIA/T F2F | CUSIP: 06418GAU1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |  24500000 | PA      | $24446247.49  | 0.78%             | 2028-09-15      | Fixed         | 4.04%                 | No            |                  2 | On Loan: No      |
| NOMURA HLDGS. INC 5.709%  | NOMURA HLDGS. INC 5.709%  | CUSIP: 65535HBG3<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |  10000000 | PA      | $10038034.00  | 0.32%             | 2026-01-09      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| CARGILL INC FRN           | CARGILL INC FRN           | CUSIP: 141781CC6<br>LEI: QXZYQNMR4JZ5RIRN4T31 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10022575.90  | 0.32%             | 2028-02-11      | Floating      | 4.96%                 | Yes           |                  2 | On Loan: No      |
| CITIGROUP INC FRN         | CITIGROUP INC FRN         | CUSIP: 17327CAX1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  12900000 | PA      | $12901965.70  | 0.41%             | 2029-03-04      | Floating      | 5.17%                 | No            |                  2 | On Loan: No      |
| DTE ENERGY CO 4.875%      | DTE ENERGY CO 4.875%      | CUSIP: 233331BJ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4200000 | PA      | $4272777.18   | 0.14%             | 2028-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| WORLD OMNI AUTO REC 4.86% | WORLD OMNI AUTO REC 4.86% | CUSIP: 98164RAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2760000 | PA      | $2776689.72   | 0.09%             | 2029-03-15      | Fixed         | 4.86%                 | No            |                  2 | On Loan: No      |
| CHICAGO O HARE INTL 5.00% | CHICAGO O HARE INTL 5.00% | CUSIP: 167593YY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2290000 | PA      | $2359512.03   | 0.08%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL FRN      | BANK OF MONTREAL FRN      | CUSIP: 06368FAD1<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |   9600000 | PA      | $9619340.83   | 0.31%             | 2026-09-15      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| AKRON BATH COPLEY J 5.00% | AKRON BATH COPLEY J 5.00% | CUSIP: 009730QE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1825000 | PA      | $1917718.94   | 0.06%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PASADENA INDEPENDEN 5.00% | PASADENA INDEPENDEN 5.00% | CUSIP: 702334HP1<br>LEI: 549300QY114RR4MXVU24 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1008794.10   | 0.03%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MID-BAY BRIDGE AUTH 5.00% | MID-BAY BRIDGE AUTH 5.00% | CUSIP: 342814ED8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1773001.91   | 0.06%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY HEALTH C 5.00% | NEW JERSEY HEALTH C 5.00% | CUSIP: 64579XEC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2305000 | PA      | $2414259.07   | 0.08%             | 2027-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KELLER INDEPENDENT 5.00%  | KELLER INDEPENDENT 5.00%  | CUSIP: 487694VF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  13550000 | PA      | $13994584.99  | 0.45%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS LOCAL 5.00%  | INDIANAPOLIS LOCAL 5.00%  | CUSIP: 45528UD81<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1090000 | PA      | $1141287.77   | 0.04%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON & CLACKA 5.00% | WASHINGTON & CLACKA 5.00% | CUSIP: 938395TC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2136474.80   | 0.07%             | 2028-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA MUNICIPAL P 5.00% | FLORIDA MUNICIPAL P 5.00% | CUSIP: 342816U29<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1392945.19   | 0.04%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT OF SEATTLE WA 5.00%  | PORT OF SEATTLE WA 5.00%  | CUSIP: 7353893K2<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   3100000 | PA      | $3298739.14   | 0.11%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTHORITY OF N 5.00% | PORT AUTHORITY OF N 5.00% | CUSIP: 73358XRA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3907192.88   | 0.13%             | 2027-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SENECA VALLEY SCHOO 5.00% | SENECA VALLEY SCHOO 5.00% | CUSIP: 817207TE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    925000 | PA      | $957039.04    | 0.03%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DECATUR TOWNSHIP MU 5.00% | DECATUR TOWNSHIP MU 5.00% | CUSIP: 243360JC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1738363.61   | 0.06%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC 4.00% | ELEVANCE HEALTH INC 4.00% | CUSIP: 036752BH5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7600000 | PA      | $7566771.89   | 0.24%             | 2028-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZ 5.00% | SALES TAX SECURITIZ 5.00% | CUSIP: 79467BAJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5170000 | PA      | $5430239.71   | 0.17%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY & COUNTY OF HO 5.00% | CITY & COUNTY OF HO 5.00% | CUSIP: 438687P66<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11390000 | PA      | $12195230.86  | 0.39%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VALPARAISO 21ST CEN 5.00% | VALPARAISO 21ST CEN 5.00% | CUSIP: 920272AC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1020000 | PA      | $1050514.63   | 0.03%             | 2027-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY G 5.00% | BLACK BELT ENERGY G 5.00% | CUSIP: 09182TFU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    510000 | PA      | $531761.65    | 0.02%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF WASHINGTON 4.00% | STATE OF WASHINGTON 4.00% | CUSIP: 93974EVV5<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   2125000 | PA      | $2148069.43   | 0.07%             | 2026-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF MIAMI-DAD 5.00% | COUNTY OF MIAMI-DAD 5.00% | CUSIP: 59333P7E2<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   4100000 | PA      | $4354335.30   | 0.14%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN. AUTHOR 5.00% | INDIANA FIN. AUTHOR 5.00% | CUSIP: 45505MJF4<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1075000 | PA      | $1075000.00   | 0.03%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH VAR | SOUTHEAST ENERGY AUTH VAR | CUSIP: 84136FAH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8650000 | PA      | $8863758.80   | 0.28%             | 2051-11-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF ECTOR TX 5.00%  | COUNTY OF ECTOR TX 5.00%  | CUSIP: 279245KA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3105000 | PA      | $3210713.14   | 0.10%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN MUNICIPAL 5.00%  | AMERICAN MUNICIPAL 5.00%  | CUSIP: 02765URP1<br>LEI: EARKGGZJJEMVD66XQ486 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10555723.00  | 0.34%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS COUNTY FLOOD 5.00% | HARRIS COUNTY FLOOD 5.00% | CUSIP: 4140187M7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1500000.00   | 0.05%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN. AUTHO 5.00% | MICHIGAN FIN. AUTHO 5.00% | CUSIP: 59447UAB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7220000 | PA      | $7344817.92   | 0.24%             | 2026-07-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS COUNTY FLOOD 5.00% | HARRIS COUNTY FLOOD 5.00% | CUSIP: 414019CS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1606981.95   | 0.05%             | 2028-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ZCP.FED AGRIC MTG C 0.00% | ZCP.FED AGRIC MTG C 0.00% | CUSIP: 31315LMK1<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   1000000 | PA      | $999888.06    | 0.03%             | 2025-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| VALPARAISO 21ST CEN 5.00% | VALPARAISO 21ST CEN 5.00% | CUSIP: 920272AD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $416804.96    | 0.01%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF CONNECTICU 5.00% | STATE OF CONNECTICU 5.00% | CUSIP: 20772KDA4<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |  12175000 | PA      | $12329370.48  | 0.40%             | 2026-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF LOS ANGELES 5.00% | CITY OF LOS ANGELES 5.00% | CUSIP: 5444452H1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6500000 | PA      | $6871294.95   | 0.22%             | 2028-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF MARYLAND 5.00%   | STATE OF MARYLAND 5.00%   | CUSIP: 574193XM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10204788.00  | 0.33%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SENECA VALLEY SCHOO 5.00% | SENECA VALLEY SCHOO 5.00% | CUSIP: 817207TF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1775000 | PA      | $1879773.10   | 0.06%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN. AUTHO 5.00% | ILLINOIS FIN. AUTHO 5.00% | CUSIP: 45204FAS4<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3204121.50   | 0.10%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE MUNIC 5.00% | NEW HAMPSHIRE MUNIC 5.00% | CUSIP: 64465QTD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2095388.20   | 0.07%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBI 5.00% | DISTRICT OF COLUMBI 5.00% | CUSIP: 254845VA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    765000 | PA      | $823139.92    | 0.03%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MID-BAY BRIDGE AUTH 5.00% | MID-BAY BRIDGE AUTH 5.00% | CUSIP: 342814EC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3319517.18   | 0.11%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DALLAS AREA RAPID T 3.05% | DALLAS AREA RAPID T 3.05% | CUSIP: 23452P7D5<br>LEI: 75YWM81F2R6UQGJIEW47 | Long             | DBT              | MUN               | US        |   7000000 | NS      | $7000981.40   | 0.22%             | 2025-10-23      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN. AUTHO 5.00% | MICHIGAN FIN. AUTHO 5.00% | CUSIP: 59447UAC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7060000 | PA      | $7199888.25   | 0.23%             | 2026-08-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS COUNTY FLOOD 5.00% | HARRIS COUNTY FLOOD 5.00% | CUSIP: 414019CW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  13500000 | PA      | $14462837.55  | 0.46%             | 2028-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF LOS ANGELES 5.00% | CITY OF LOS ANGELES 5.00% | CUSIP: 544445XR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4530000 | PA      | $4788764.02   | 0.15%             | 2028-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DALLAS AREA RAPID T 3.05% | DALLAS AREA RAPID T 3.05% | CUSIP: 23452P7E3<br>LEI: 75YWM81F2R6UQGJIEW47 | Long             | DBT              | MUN               | US        |   2213000 | NS      | $2213882.99   | 0.07%             | 2025-12-04      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS DEV. 5.00%  | MASSACHUSETTS DEV. 5.00%  | CUSIP: 57585BNH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2541431.00   | 0.08%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SAN ANTONIO 5.00% | CITY OF SAN ANTONIO 5.00% | CUSIP: 79623PUL7<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |   2325000 | PA      | $2459741.42   | 0.08%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER COLORADO RIVE 5.00% | LOWER COLORADO RIVE 5.00% | CUSIP: 54811GQ29<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |   2800000 | PA      | $2840313.56   | 0.09%             | 2026-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SPRING HILL 4.00% | CITY OF SPRING HILL 4.00% | CUSIP: 849658UK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9990000 | PA      | $10107919.96  | 0.32%             | 2027-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PK ALIFT LOAN FNDG. 4.75% | PK ALIFT LOAN FNDG. 4.75% | CUSIP: 69291NAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4400000 | PA      | $4399908.96   | 0.14%             | 2043-03-15      | None          | 4.75%                 | Yes           |                  2 | On Loan: No      |
| MADISON METROPOLITA 5.00% | MADISON METROPOLITA 5.00% | CUSIP: 558495QJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1825000 | PA      | $1892356.19   | 0.06%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLIFTON HIGHER EDUC 5.00% | CLIFTON HIGHER EDUC 5.00% | CUSIP: 187145UV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3094321.20   | 0.10%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF ATLANTA GA 5.00%  | CITY OF ATLANTA GA 5.00%  | CUSIP: 04780MS26<br>LEI: 549300GHLQ0J51NUBM84 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2650123.00   | 0.09%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HEALTH F 2.60% | CALIFORNIA HEALTH F 2.60% | CUSIP: 13032TTC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  13670000 | PA      | $13672120.22  | 0.44%             | 2025-12-02      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| LOWER COLORADO RIVE 5.00% | LOWER COLORADO RIVE 5.00% | CUSIP: 54811BS36<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |    750000 | PA      | $779541.23    | 0.03%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY HOUSING 2.95%  | NEW JERSEY HOUSING 2.95%  | CUSIP: 6461087N4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2770000 | PA      | $2766362.44   | 0.09%             | 2028-05-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA HEALTH 5.00% | SOUTH DAKOTA HEALTH 5.00% | CUSIP: 83755VU85<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    360000 | PA      | $368860.75    | 0.01%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA HEALTH 5.00% | SOUTH DAKOTA HEALTH 5.00% | CUSIP: 83755VU93<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    915000 | PA      | $958005.46    | 0.03%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PAGAYA AI DEBT GRA 5.008% | PAGAYA AI DEBT GRA 5.008% | CUSIP: 69549BAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2400000 | PA      | $2398871.28   | 0.08%             | 2033-04-15      | Fixed         | 5.01%                 | Yes           |                  2 | On Loan: No      |
| DISTRICT OF COLUMBI 5.00% | DISTRICT OF COLUMBI 5.00% | CUSIP: 254845UM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2367199.78   | 0.08%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SPRING BRANCH INDEP 5.00% | SPRING BRANCH INDEP 5.00% | CUSIP: 849476WW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4315000 | PA      | $4568756.09   | 0.15%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF CONNECTICU 5.00% | STATE OF CONNECTICU 5.00% | CUSIP: 20772KG94<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |   8075000 | PA      | $8623273.12   | 0.28%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA COUNTY UNI 5.00% | MARICOPA COUNTY UNI 5.00% | CUSIP: 566897XR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1069127.43   | 0.03%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KNOX COUNTY HEALTH ED VAR | KNOX COUNTY HEALTH ED VAR | CUSIP: 499652AM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3504474.75   | 0.11%             | 2027-12-01      | Variable      | 3.95%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA TURNPIKE FRN | PENNSYLVANIA TURNPIKE FRN | CUSIP: 709222DS9<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2496527.50   | 0.08%             | 2041-07-15      | Floating      | 3.74%                 | No            |                  2 | On Loan: No      |
| MADISON METROPOLITA 5.00% | MADISON METROPOLITA 5.00% | CUSIP: 558495QK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2560000 | PA      | $2717234.94   | 0.09%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF MOORHEAD MN 4.00% | CITY OF MOORHEAD MN 4.00% | CUSIP: 616142WS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  18845000 | PA      | $19248051.21  | 0.62%             | 2027-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTHORITY OF N 5.00% | PORT AUTHORITY OF N 5.00% | CUSIP: 73358XBZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3520000 | PA      | $3737127.68   | 0.12%             | 2028-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF NEW YORK NY 5.00% | CITY OF NEW YORK NY 5.00% | CUSIP: 64966SPV2<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10694505.00  | 0.34%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS MUNICIPAL 5.00%  | ILLINOIS MUNICIPAL 5.00%  | CUSIP: 452024JH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9450000 | PA      | $9971199.63   | 0.32%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS COUNTY HOUSING VAR | HARRIS COUNTY HOUSING VAR | CUSIP: 414158TQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4150000 | PA      | $4143689.51   | 0.13%             | 2043-09-01      | Variable      | 2.95%                 | No            |                  2 | On Loan: No      |
| PAGAYA AI DEBT GRA 4.883% | PAGAYA AI DEBT GRA 4.883% | CUSIP: 69549BAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6700000 | PA      | $6694966.29   | 0.21%             | 2033-04-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| INDIANAPOLIS LOCAL 5.00%  | INDIANAPOLIS LOCAL 5.00%  | CUSIP: 45528VDZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    780000 | PA      | $804941.36    | 0.03%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HCA INC 5.00%             | HCA INC 5.00%             | CUSIP: 404119CY3<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   3470000 | PA      | $3533857.30   | 0.11%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON NATL. BANK F2F | HUNTINGTON NATL. BANK F2F | CUSIP: 44644MAK7<br>LEI: 2WHM8VNJH63UN14OL754 | Long             | DBT              | CORP              | US        |   7400000 | PA      | $7478702.11   | 0.24%             | 2028-04-12      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| CITY OF SALT LAKE C 5.00% | CITY OF SALT LAKE C 5.00% | CUSIP: 795576GY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2380816.58   | 0.08%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OWENSBORO-DAVIESS C 5.00% | OWENSBORO-DAVIESS C 5.00% | CUSIP: 690882DF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2205000 | PA      | $2313985.65   | 0.07%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY HOUSING VAR | NEW YORK CITY HOUSING VAR | CUSIP: 64970VDD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  37000000 | PA      | $37000000.00  | 1.19%             | 2039-06-15      | Variable      | 2.90%                 | No            |                  2 | On Loan: No      |
| NEW ORLEANS AVIATIO 5.00% | NEW ORLEANS AVIATIO 5.00% | CUSIP: 64763HLY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5225000 | PA      | $5356491.31   | 0.17%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA MUNICIPAL P 5.00% | FLORIDA MUNICIPAL P 5.00% | CUSIP: 342816T96<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    795000 | PA      | $833433.08    | 0.03%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA HOUSING FIN. VAR  | FLORIDA HOUSING FIN. VAR  | CUSIP: 34073JVF3<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6003392.40   | 0.19%             | 2043-03-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS DEV. 5.00%  | MASSACHUSETTS DEV. 5.00%  | CUSIP: 57585BNJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1454570.46   | 0.05%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF FORT BEND 5.00% | COUNTY OF FORT BEND 5.00% | CUSIP: 346766Z50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2765000 | PA      | $2860347.71   | 0.09%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF HOUSTON TX 5.00%  | CITY OF HOUSTON TX 5.00%  | CUSIP: 442349JA5<br>LEI: 549300C64URYS0WQQY42 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1581911.10   | 0.05%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF PEARLAND TX 5.00% | CITY OF PEARLAND TX 5.00% | CUSIP: 704865ZA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2605000 | PA      | $2752404.97   | 0.09%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREATER ORLANDO AVI 5.00% | GREATER ORLANDO AVI 5.00% | CUSIP: 392274Y91<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5045000 | PA      | $5263647.27   | 0.17%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF NEW MEXICO 5.00% | STATE OF NEW MEXICO 5.00% | CUSIP: 6473104B4<br>LEI: 549300H4YLM23QKOGK29 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4273954.40   | 0.14%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SALT LAKE C 5.00% | CITY OF SALT LAKE C 5.00% | CUSIP: 795576LK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1587211.05   | 0.05%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MESQUITE INDEPENDEN 5.00% | MESQUITE INDEPENDEN 5.00% | CUSIP: 590760UK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1570358.85   | 0.05%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SANTANDER UK GRP. HLD F2F | SANTANDER UK GRP. HLD F2F | CUSIP: 80281LAX3<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |   4800000 | PA      | $4786634.78   | 0.15%             | 2029-09-22      | Fixed         | 4.32%                 | No            |                  2 | On Loan: No      |
| VALPARAISO 21ST CEN 5.00% | VALPARAISO 21ST CEN 5.00% | CUSIP: 920272AF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4025000 | PA      | $4290075.63   | 0.14%             | 2028-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHERN MINNESOTA 5.00%  | SOUTHERN MINNESOTA 5.00%  | CUSIP: 843375F92<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1268083.92   | 0.04%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF PHOENIX CIVIC 5%  | CITY OF PHOENIX CIVIC 5%  | CUSIP: 71883RNQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1756546.75   | 0.06%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF MINNEAPOLIS M VAR | CITY OF MINNEAPOLIS M VAR | CUSIP: 60374VEG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  16730000 | PA      | $16730000.00  | 0.54%             | 2048-11-15      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| CITY OF MILWAUKEE W 5.00% | CITY OF MILWAUKEE W 5.00% | CUSIP: 602366H33<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8440000 | PA      | $8900055.12   | 0.29%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOUS 3.35% | MICHIGAN STATE HOUS 3.35% | CUSIP: 59465PDL9<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |    655000 | PA      | $656017.61    | 0.02%             | 2026-04-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| STATE OF TENNESSEE 5.00%  | STATE OF TENNESSEE 5.00%  | CUSIP: 880541G84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12680000 | PA      | $12864805.93  | 0.41%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY & COUNTY OF DE 5.00% | CITY & COUNTY OF DE 5.00% | CUSIP: 249182TQ9<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   3160000 | PA      | $3168587.62   | 0.10%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON & CLACKA 5.00% | WASHINGTON & CLACKA 5.00% | CUSIP: 938395TB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1565073.60   | 0.05%             | 2027-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER COLORADO RIVE 5.00% | LOWER COLORADO RIVE 5.00% | CUSIP: 54811BS44<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2653744.25   | 0.09%             | 2028-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF FORT BEND 5.00% | COUNTY OF FORT BEND 5.00% | CUSIP: 346766W38<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1535000 | PA      | $1587932.63   | 0.05%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA HEALTH 5.00% | SOUTH DAKOTA HEALTH 5.00% | CUSIP: 83755VV27<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1165000 | PA      | $1243045.56   | 0.04%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF PHILADELPHI 5.00% | CITY OF PHILADELPHI 5.00% | CUSIP: 717817YH7<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |    860000 | PA      | $906962.36    | 0.03%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL F2F      | BANK OF MONTREAL F2F      | CUSIP: 06368MXU3<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |  16600000 | PA      | $16576488.59  | 0.53%             | 2028-09-22      | Fixed         | 4.06%                 | No            |                  2 | On Loan: No      |
| COUNTY OF SPOTSYLVA 5.00% | COUNTY OF SPOTSYLVA 5.00% | CUSIP: 849269GJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001971.30   | 0.03%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS HOUSING DE 3.80% | ILLINOIS HOUSING DE 3.80% | CUSIP: 45203MTL5<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |    600000 | PA      | $605553.60    | 0.02%             | 2026-10-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPT. OF VAR  | LOS ANGELES DEPT. OF VAR  | CUSIP: 544532BR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  25000000 | PA      | $25000000.00  | 0.80%             | 2051-07-01      | Variable      | 2.85%                 | No            |                  2 | On Loan: No      |
| CITY OF FORT WORTH 5.00%  | CITY OF FORT WORTH 5.00%  | CUSIP: 349426KZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  15000000 | PA      | $15523635.00  | 0.50%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY HOUSING 2.90%  | NEW JERSEY HOUSING 2.90%  | CUSIP: 6461087M6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3745428.00   | 0.12%             | 2027-11-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| COUNTY OF FORT BEND 5.00% | COUNTY OF FORT BEND 5.00% | CUSIP: 346766Z68<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3550000 | PA      | $3756016.80   | 0.12%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF FORT BEND 5.00% | COUNTY OF FORT BEND 5.00% | CUSIP: 346766T99<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    865000 | PA      | $915198.46    | 0.03%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SAN ANTONIO 5.00% | CITY OF SAN ANTONIO 5.00% | CUSIP: 79623PTM7<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |   6350000 | PA      | $6718003.46   | 0.22%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF MILWAUKEE W 5.00% | CITY OF MILWAUKEE W 5.00% | CUSIP: 6023663V6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9480000 | PA      | $10131371.75  | 0.33%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF FORT SMITH 5.00%  | CITY OF FORT SMITH 5.00%  | CUSIP: 348815PC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2385000 | PA      | $2440530.19   | 0.08%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF NEW MEXICO 5.00% | STATE OF NEW MEXICO 5.00% | CUSIP: 6473103Q2<br>LEI: 549300H4YLM23QKOGK29 | Long             | DBT              | MUN               | US        |   2505000 | PA      | $2549729.78   | 0.08%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA COUNTY ELE 5.00% | MARICOPA COUNTY ELE 5.00% | CUSIP: 567385HP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1830000 | PA      | $1864161.53   | 0.06%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF MIAMI-DAD 5.00% | COUNTY OF MIAMI-DAD 5.00% | CUSIP: 59333P7D4<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   3700000 | PA      | $3855950.19   | 0.12%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL FLORIDA TOU 5.00% | CENTRAL FLORIDA TOU 5.00% | CUSIP: 758449QM7<br>LEI: 549300DLSKH6SZ96KV94 | Long             | DBT              | MUN               | US        |   1315000 | PA      | $1335412.75   | 0.04%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RURAL WATER FINC. A 3.05% | RURAL WATER FINC. A 3.05% | CUSIP: 781741CW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $9999943.00   | 0.32%             | 2027-05-01      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| CITY OF SAN ANTONIO 5.00% | CITY OF SAN ANTONIO 5.00% | CUSIP: 79625GAE3<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |   4745000 | PA      | $4906811.14   | 0.16%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA HEALTH FACILI FRN | ARIZONA HEALTH FACILI FRN | CUSIP: 040507QT5<br>LEI: PLD0E0WJKFN8IZJ2WD85 | Long             | DBT              | MUN               | US        |   7335000 | PA      | $7282506.34   | 0.23%             | 2046-01-01      | Floating      | 3.14%                 | No            |                  2 | On Loan: No      |
| WEST OTTAWA PUBLIC 5.00%  | WEST OTTAWA PUBLIC 5.00%  | CUSIP: 955023XB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9125000 | PA      | $9360453.29   | 0.30%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA HEALTH FACILI FRN | ARIZONA HEALTH FACILI FRN | CUSIP: 040507QS7<br>LEI: PLD0E0WJKFN8IZJ2WD85 | Long             | DBT              | MUN               | US        |    300000 | PA      | $299879.55    | 0.01%             | 2046-01-01      | Floating      | 3.14%                 | No            |                  2 | On Loan: No      |
| IDAHO STATE BLDG. A 5.00% | IDAHO STATE BLDG. A 5.00% | CUSIP: 451446AB4<br>LEI: 549300XZ1VJYPPKQZU06 | Long             | DBT              | MUN               | US        |  25000000 | PA      | $25419095.00  | 0.82%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC 4.25% | NEW JERSEY ECONOMIC 4.25% | CUSIP: 64577BKK9<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |  13565000 | PA      | $13572175.89  | 0.44%             | 2026-06-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CITY OF TULSA OK 3.00%    | CITY OF TULSA OK 3.00%    | CUSIP: 899645J30<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3006590.40   | 0.10%             | 2026-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| STATE OF ILLINOIS 5.00%   | STATE OF ILLINOIS 5.00%   | CUSIP: 452153LL1<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7161105.70   | 0.23%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF FORT WORTH 4.00%  | CITY OF FORT WORTH 4.00%  | CUSIP: 349515L87<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4455000 | PA      | $4554842.34   | 0.15%             | 2027-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NATIONWIDE BLDG. SOCI FRN | NATIONWIDE BLDG. SOCI FRN | CUSIP: 63861VAG2<br>LEI: 549300XFX12G42QIKN82 | Long             | DBT              | CORP              | GB        |   9300000 | PA      | $9372391.39   | 0.30%             | 2028-02-16      | Floating      | 5.63%                 | Yes           |                  2 | On Loan: No      |
| SANTANDER HLDGS. USA FRN  | SANTANDER HLDGS. USA FRN  | CUSIP: 80282KBP0<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $20210290.20  | 0.65%             | 2029-03-20      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| STATE OF MINNESOTA 5.00%  | STATE OF MINNESOTA 5.00%  | CUSIP: 60412AX57<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5535000 | PA      | $5793907.93   | 0.19%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SAN ANTONIO 5.00% | CITY OF SAN ANTONIO 5.00% | CUSIP: 79623PTQ8<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |   5240000 | PA      | $5543675.29   | 0.18%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON HEALTH C 5.00% | WASHINGTON HEALTH C 5.00% | CUSIP: 93978HB53<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |   2675000 | PA      | $2778053.31   | 0.09%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CITY 5.00%  | SAN FRANCISCO CITY 5.00%  | CUSIP: 79766DVC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2419529.62   | 0.08%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF LOS ANGELES 5.00% | CITY OF LOS ANGELES 5.00% | CUSIP: 544445GL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5285611.50   | 0.17%             | 2028-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHERN MINNESOTA 5.00%  | SOUTHERN MINNESOTA 5.00%  | CUSIP: 843375F84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1240000 | PA      | $1278579.38   | 0.04%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WF CARD ISSUANCE TR 4.94% | WF CARD ISSUANCE TR 4.94% | CUSIP: 92970QAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $5072457.00   | 0.16%             | 2029-02-15      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| CITY OF PHILADELPHI 5.00% | CITY OF PHILADELPHI 5.00% | CUSIP: 717817YG9<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1035501.10   | 0.03%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF LEANDER TX 5.00%  | CITY OF LEANDER TX 5.00%  | CUSIP: 521838Y63<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1340315.38   | 0.04%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSP 5.00% | METROPOLITAN TRANSP 5.00% | CUSIP: 59261A5S2<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1120000 | PA      | $1174643.57   | 0.04%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF OHIO 5.00%       | STATE OF OHIO 5.00%       | CUSIP: 677523FE7<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1014282.60   | 0.03%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RURAL WATER FINC. A 2.75% | RURAL WATER FINC. A 2.75% | CUSIP: 781741JR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  32025000 | PA      | $31852407.67  | 1.02%             | 2028-05-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| INDUSTRIAL DEV. AUTHO VAR | INDUSTRIAL DEV. AUTHO VAR | CUSIP: 721779LM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7595000 | PA      | $7554609.79   | 0.24%             | 2059-10-01      | Variable      | 2.71%                 | No            |                  2 | On Loan: No      |
| HEALTH & EDUCATIONA 5.00% | HEALTH & EDUCATIONA 5.00% | CUSIP: 60637AXV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $799738.73    | 0.03%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS WATER DEV. BO 5.00% | TEXAS WATER DEV. BO 5.00% | CUSIP: 882854T77<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3865000 | PA      | $3945118.36   | 0.13%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS STATE AFFORDABL VAR | TEXAS STATE AFFORDABL VAR | CUSIP: 88271FFR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3400000 | PA      | $3431064.44   | 0.11%             | 2045-01-01      | Variable      | 3.62%                 | No            |                  2 | On Loan: No      |
| PLANO INDEPENDENT S 5.00% | PLANO INDEPENDENT S 5.00% | CUSIP: 727199D81<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11000000 | PA      | $11369975.10  | 0.36%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENNESSEE HOUSING D 3.30% | TENNESSEE HOUSING D 3.30% | CUSIP: 880461HL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1750368.55   | 0.06%             | 2028-01-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| HARRIS COUNTY-HOUST 5.00% | HARRIS COUNTY-HOUST 5.00% | CUSIP: 413890GN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  15430000 | PA      | $15468093.58  | 0.50%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA PUBL 5.00% | SOUTH CAROLINA PUBL 5.00% | CUSIP: 8371515X3<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   4395000 | PA      | $4513781.03   | 0.14%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECONOM 5.00% | PENNSYLVANIA ECONOM 5.00% | CUSIP: 70870JHB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2680000 | PA      | $2766945.10   | 0.09%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OREGON STATE LOTTER 5.00% | OREGON STATE LOTTER 5.00% | CUSIP: 68607V6A8<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10642679.00  | 0.34%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JERSEY CITY MUNICIP 5.00% | JERSEY CITY MUNICIP 5.00% | CUSIP: 476624DQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  15510000 | PA      | $15693529.83  | 0.50%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENNERGY CORP/TN VAR      | TENNERGY CORP/TN VAR      | CUSIP: 880397BW3<br>LEI: 5493008K3JJFBSC4C235 | Long             | DBT              | MUN               | US        |   1370000 | PA      | $1403696.93   | 0.05%             | 2051-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE HOUS 3.625% | NEW HAMPSHIRE HOUS 3.625% | CUSIP: 64469MRK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001551.60   | 0.03%             | 2026-04-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| STATE OF CONNECTICU 5.00% | STATE OF CONNECTICU 5.00% | CUSIP: 20772KUZ0<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |   4100000 | PA      | $4127110.02   | 0.13%             | 2026-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DALLAS INDEPENDENT 5.00%  | DALLAS INDEPENDENT 5.00%  | CUSIP: 235308R21<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    975000 | PA      | $1007391.74   | 0.03%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PEARLAND INDEPENDEN 5.00% | PEARLAND INDEPENDEN 5.00% | CUSIP: 704880BQ5<br>LEI: 549300UU8ZB6DL6OXQ09 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1589641.05   | 0.05%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HEALTH FAC VAR | CALIFORNIA HEALTH FAC VAR | CUSIP: 13032UGP7<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   8225000 | PA      | $8225000.00   | 0.26%             | 2036-10-01      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| TULSA COUNTY INDL. 5.00%  | TULSA COUNTY INDL. 5.00%  | CUSIP: 89952PFD2<br>LEI: 549300WEYXBXLGN1E271 | Long             | DBT              | MUN               | US        |   8480000 | PA      | $8860255.07   | 0.28%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS FRN | BLACK BELT ENERGY GAS FRN | CUSIP: 09182NCC2<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |  20000000 | PA      | $20161972.00  | 0.65%             | 2052-07-01      | Floating      | 4.17%                 | No            |                  2 | On Loan: No      |
| MONMOUTH COUNTY IMP 5.00% | MONMOUTH COUNTY IMP 5.00% | CUSIP: 60956PG48<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1391057.96   | 0.04%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF ILLINOIS 5.00%   | STATE OF ILLINOIS 5.00%   | CUSIP: 4521526R7<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   3430000 | PA      | $3585516.20   | 0.12%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SCHOOL BOARD OF MIA 5.00% | SCHOOL BOARD OF MIA 5.00% | CUSIP: 59333MW76<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8840000 | PA      | $9172629.75   | 0.29%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF PORTLAND OR 5.00% | CITY OF PORTLAND OR 5.00% | CUSIP: 736742K97<br>LEI: 254900RPNQMJF9NBMF52 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5214239.00   | 0.17%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH BRIDGE & 5.00% | TRIBOROUGH BRIDGE & 5.00% | CUSIP: 89602RMU6<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |  25420000 | PA      | $26962732.17  | 0.87%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF TUCSON AZ 5.00%   | CITY OF TUCSON AZ 5.00%   | CUSIP: 898711X84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6460000 | PA      | $6738803.26   | 0.22%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH BRIDGE & 5.00% | TRIBOROUGH BRIDGE & 5.00% | CUSIP: 89602HHY6<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |  14420000 | PA      | $15273175.16  | 0.49%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORT ZUMWALT SCHOOL 5.00% | FORT ZUMWALT SCHOOL 5.00% | CUSIP: 3495454A8<br>LEI: 549300GAUDH543HQW865 | Long             | DBT              | MUN               | US        |   8415000 | PA      | $8915548.60   | 0.29%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORT BEND INDEPENDE 5.00% | FORT BEND INDEPENDE 5.00% | CUSIP: 346843WT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1360000 | PA      | $1389338.74   | 0.04%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON INDEPENDENT 5.00% | HOUSTON INDEPENDENT 5.00% | CUSIP: 442403RE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9000000 | PA      | $9310125.60   | 0.30%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS VAR | BLACK BELT ENERGY GAS VAR | CUSIP: 09182TAM9<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   9800000 | PA      | $9917730.34   | 0.32%             | 2052-10-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| SARASOTA COUNTY SCH 5.00% | SARASOTA COUNTY SCH 5.00% | CUSIP: 80330QDE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1399643.16   | 0.04%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ADAMS 12 FIVE STAR 5.00%  | ADAMS 12 FIVE STAR 5.00%  | CUSIP: 006449HS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8000000 | PA      | $8247724.80   | 0.26%             | 2026-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER CITY & COUNT 5.00% | DENVER CITY & COUNT 5.00% | CUSIP: 249174ZH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4752535.50   | 0.15%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER CITY & COUNT 5.00% | DENVER CITY & COUNT 5.00% | CUSIP: 249174YT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3650000 | PA      | $3757985.25   | 0.12%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN. AUTHORIT FRN | INDIANA FIN. AUTHORIT FRN | CUSIP: 45506EDH3<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   6315000 | PA      | $6261707.72   | 0.20%             | 2039-03-01      | Floating      | 3.19%                 | No            |                  2 | On Loan: No      |
| SANTANDER MTGE. AS 5.545% | SANTANDER MTGE. AS 5.545% | CUSIP: 80262BAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5408840 | PA      | $5442462.03   | 0.17%             | 2065-01-25      | Variable      | 5.55%                 | Yes           |                  2 | On Loan: No      |
| INDIANA FIN. AUTHORIT VAR | INDIANA FIN. AUTHORIT VAR | CUSIP: 455054BH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5750000 | PA      | $5800241.78   | 0.19%             | 2031-03-01      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| BETHLEHEM AREA SCHOOL FRN | BETHLEHEM AREA SCHOOL FRN | CUSIP: 087368AN6<br>LEI: 549300TFB2HAL26FJP41 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1249537.63   | 0.04%             | 2032-01-01      | Floating      | 3.12%                 | No            |                  2 | On Loan: No      |
| TENNESSEE ENERGY ACQU VAR | TENNESSEE ENERGY ACQU VAR | CUSIP: 880443JF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  14100000 | PA      | $14719673.85  | 0.47%             | 2053-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF MINNESOTA 5.00%  | STATE OF MINNESOTA 5.00%  | CUSIP: 60412AN82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1770000 | PA      | $1853540.99   | 0.06%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF MECKLENBU 5.00% | COUNTY OF MECKLENBU 5.00% | CUSIP: 584002ZZ5<br>LEI: 5493006G3IC5PBHB7A65 | Long             | DBT              | MUN               | US        |  13680000 | PA      | $14155802.71  | 0.45%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF OHIO 5.00%       | STATE OF OHIO 5.00%       | CUSIP: 677561LU4<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   3220000 | PA      | $3315071.14   | 0.11%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTHORITY OF N 5.00% | PORT AUTHORITY OF N 5.00% | CUSIP: 73358XRB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6975000 | PA      | $7405245.90   | 0.24%             | 2028-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DUPAGE COUNTY FORES 5.00% | DUPAGE COUNTY FORES 5.00% | CUSIP: 262651VH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1681734.08   | 0.05%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF JACKSONVILL 5.00% | CITY OF JACKSONVILL 5.00% | CUSIP: 469487QC9<br>LEI: 549300XQE0JVN9WV0J40 | Long             | DBT              | MUN               | US        |   8650000 | PA      | $8843456.39   | 0.28%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA RURAL WAT 3.30% | MINNESOTA RURAL WAT 3.30% | CUSIP: 60411PBE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10012767.00  | 0.32%             | 2026-08-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| TRAVERSE CITY AREA 5.00%  | TRAVERSE CITY AREA 5.00%  | CUSIP: 894282SU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8100000 | PA      | $8413758.36   | 0.27%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DECATUR TOWNSHIP MU 5.00% | DECATUR TOWNSHIP MU 5.00% | CUSIP: 243360JA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1320000 | PA      | $1358537.27   | 0.04%             | 2027-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER INDEPENDE 5.00% | LANCASTER INDEPENDE 5.00% | CUSIP: 514462T59<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    980000 | PA      | $1012692.31   | 0.03%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF ILLINOIS 3.25%   | STATE OF ILLINOIS 3.25%   | CUSIP: 452152Q53<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   6855000 | PA      | $6885901.65   | 0.22%             | 2026-11-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| STATE OF ALASKA 5.00%     | STATE OF ALASKA 5.00%     | CUSIP: 0117706C3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2093293.20   | 0.07%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DALLAS INDEPENDENT 5.00%  | DALLAS INDEPENDENT 5.00%  | CUSIP: 235308U50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12000000 | PA      | $12734266.80  | 0.41%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLEVELAND COUNTY IN 4.00% | CLEVELAND COUNTY IN 4.00% | CUSIP: 186054JX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5520000 | PA      | $5628657.34   | 0.18%             | 2027-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| STATE OF OHIO 5.00%       | STATE OF OHIO 5.00%       | CUSIP: 677523JA1<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   8135000 | PA      | $8472209.58   | 0.27%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY STATE PROP 5.00% | KENTUCKY STATE PROP 5.00% | CUSIP: 49151F4P2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1593813.00   | 0.05%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF CALIFORNIA 5.00% | STATE OF CALIFORNIA 5.00% | CUSIP: 13063EMH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  13400000 | PA      | $13904543.50  | 0.45%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF DALLAS TX 5.00%   | CITY OF DALLAS TX 5.00%   | CUSIP: 235219MU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4033829.60   | 0.13%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPT. O 5.00% | LOS ANGELES DEPT. O 5.00% | CUSIP: 544532CS1<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   6270000 | PA      | $6351177.06   | 0.20%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA COUNTY INDL. VAR | MARICOPA COUNTY INDL. VAR | CUSIP: 56682HDV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10487036.00  | 0.34%             | 2053-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA INS. ASSIST 5.00% | FLORIDA INS. ASSIST 5.00% | CUSIP: 34074EAC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9250000 | PA      | $9336059.23   | 0.30%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA HOUSI 3.50% | WEST VIRGINIA HOUSI 3.50% | CUSIP: 95662NLQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500780.20    | 0.02%             | 2026-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| COUNTY OF MECKLENBU 5.00% | COUNTY OF MECKLENBU 5.00% | CUSIP: 584002ZD4<br>LEI: 5493006G3IC5PBHB7A65 | Long             | DBT              | MUN               | US        |   2065000 | PA      | $2136822.56   | 0.07%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF NEVADA 5.00%     | STATE OF NEVADA 5.00%     | CUSIP: 641462WK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  24175000 | PA      | $25082778.50  | 0.81%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLEVELAND COUNTY IN 4.00% | CLEVELAND COUNTY IN 4.00% | CUSIP: 186054JY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7440000 | PA      | $7697028.94   | 0.25%             | 2028-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON INDEPENDE 5.00% | ARLINGTON INDEPENDE 5.00% | CUSIP: 041827AD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  13965000 | PA      | $14444291.37  | 0.46%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF NEW YORK NY 5.00% | CITY OF NEW YORK NY 5.00% | CUSIP: 64966SLJ3<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |  16995000 | PA      | $17973799.83  | 0.58%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA COUNTY UNI 5.00% | MARICOPA COUNTY UNI 5.00% | CUSIP: 567505SL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2265000 | PA      | $2367123.87   | 0.08%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JOHNSON CITY HEALTH & VAR | JOHNSON CITY HEALTH & VAR | CUSIP: 47827TAD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3024481.50   | 0.10%             | 2027-12-01      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| DALLAS INDEPENDENT 5.00%  | DALLAS INDEPENDENT 5.00%  | CUSIP: 235308R39<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2285000 | PA      | $2424816.64   | 0.08%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DECATUR HOUSING AUTHO VAR | DECATUR HOUSING AUTHO VAR | CUSIP: 24311PAF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2267159.40   | 0.07%             | 2028-09-01      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| LOWER COLORADO RIVE 5.00% | LOWER COLORADO RIVE 5.00% | CUSIP: 54811BP39<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4157553.20   | 0.13%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOWN OF WEST SENECA 4.00% | TOWN OF WEST SENECA 4.00% | CUSIP: 955771UQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  16999000 | PA      | $17070355.00  | 0.55%             | 2026-02-06      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECONOM 5.00% | PENNSYLVANIA ECONOM 5.00% | CUSIP: 70870JHC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3686520.95   | 0.12%             | 2028-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS VALLEY WA 5.00% | LAS VEGAS VALLEY WA 5.00% | CUSIP: 5178406P4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1075000 | PA      | $1076879.75   | 0.03%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF NEW YORK NY 5.00% | CITY OF NEW YORK NY 5.00% | CUSIP: 64966QGN4<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1890000 | PA      | $1929253.98   | 0.06%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF WASHINGTON 5.00% | STATE OF WASHINGTON 5.00% | CUSIP: 93974EN93<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   4325000 | PA      | $4469136.68   | 0.14%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY TURNPIKE 5.00% | NEW JERSEY TURNPIKE 5.00% | CUSIP: 646140FM0<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   4490000 | PA      | $4625441.75   | 0.15%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EDINA INDEPENDENT S 5.00% | EDINA INDEPENDENT S 5.00% | CUSIP: 280659WF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3425000 | PA      | $3539088.12   | 0.11%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARK COUNTY SCHOOL 5.00% | CLARK COUNTY SCHOOL 5.00% | CUSIP: 181059UY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1040000 | PA      | $1057100.51   | 0.03%             | 2026-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF IRVING TX W 5.00% | CITY OF IRVING TX W 5.00% | CUSIP: 463831UZ8<br>LEI: 5493002R7BX8XPQ92O37 | Long             | DBT              | MUN               | US        |   1585000 | PA      | $1618085.61   | 0.05%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KING COUNTY SCHOOL 5.00%  | KING COUNTY SCHOOL 5.00%  | CUSIP: 495026SW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1801978.33   | 0.06%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF MICHIGAN 5.00%   | STATE OF MICHIGAN 5.00%   | CUSIP: 594612DJ9<br>LEI: CADMV8WVNQO7XM117W54 | Long             | DBT              | MUN               | US        |   4435000 | PA      | $4600239.67   | 0.15%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SCHOOL DISTRICT OF 5.00%  | SCHOOL DISTRICT OF 5.00%  | CUSIP: 115065ZN7<br>LEI: 5493006KVNQDJ1D0OD92 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5082487.50   | 0.16%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF WASHINGTON 5.00% | STATE OF WASHINGTON 5.00% | CUSIP: 93974ED60<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   9465000 | PA      | $9637562.09   | 0.31%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALDINE INDEPENDENT 5.00%  | ALDINE INDEPENDENT 5.00%  | CUSIP: 014393YY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1501560.26   | 0.05%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF WASHINGTON 5.00% | STATE OF WASHINGTON 5.00% | CUSIP: 93974EY91<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |  15720000 | PA      | $16040615.69  | 0.51%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY OF CONNE 5.00% | UNIVERSITY OF CONNE 5.00% | CUSIP: 914225HP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2280000 | PA      | $2286338.17   | 0.07%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF ANNE ARUN 5.00% | COUNTY OF ANNE ARUN 5.00% | CUSIP: 03588H4N3<br>LEI: 549300L8Q6EFVTZGWW41 | Long             | DBT              | MUN               | US        |   3245000 | PA      | $3369716.71   | 0.11%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH OF PEN 5.00% | COMMONWEALTH OF PEN 5.00% | CUSIP: 70914P3R1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9415000 | PA      | $9869344.36   | 0.32%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF HAWAII 5.00%     | STATE OF HAWAII 5.00%     | CUSIP: 419792HU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6895000 | PA      | $6981246.11   | 0.22%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT RIVER PROJECT 5.00%  | SALT RIVER PROJECT 5.00%  | CUSIP: 79574CCL5<br>LEI: SHB8HO6GKXJ83RX5OV39 | Long             | DBT              | MUN               | US        |   2130000 | PA      | $2199266.96   | 0.07%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF ILLINOIS 5.00%   | STATE OF ILLINOIS 5.00%   | CUSIP: 4521522K6<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1149874.00   | 0.04%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARK COUNTY SCHOOL 5.00% | CLARK COUNTY SCHOOL 5.00% | CUSIP: 181234T47<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2760351.55   | 0.09%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY OF PITTS 4.00% | UNIVERSITY OF PITTS 4.00% | CUSIP: 91335VKW5<br>LEI: 5493002C83QSGL8ETT42 | Long             | DBT              | MUN               | US        |  14110000 | PA      | $14181386.72  | 0.46%             | 2026-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF MIAMI-DAD 5.00% | COUNTY OF MIAMI-DAD 5.00% | CUSIP: 59334PGY7<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   8955000 | PA      | $9125587.38   | 0.29%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF EL PASO T 5.00% | COUNTY OF EL PASO T 5.00% | CUSIP: 2834975X9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4082799.20   | 0.13%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OMAHA PUBLIC POWER 2.80%  | OMAHA PUBLIC POWER 2.80%  | CUSIP: 68179R7K2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12750000 | PA      | $12752159.85  | 0.41%             | 2025-11-03      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| OHIO WATER DEV. AUT 2.80% | OHIO WATER DEV. AUT 2.80% | CUSIP: 67767BBD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12200000 | PA      | $12202712.06  | 0.39%             | 2025-11-04      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| HAMPTON ROADS SANIT 5.00% | HAMPTON ROADS SANIT 5.00% | CUSIP: 409327MW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3355000 | PA      | $3414486.83   | 0.11%             | 2026-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MESQUITE INDEPENDEN 5.00% | MESQUITE INDEPENDEN 5.00% | CUSIP: 590760UL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1606933.80   | 0.05%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHIPPEWA VALLEY SCH 5.00% | CHIPPEWA VALLEY SCH 5.00% | CUSIP: 170016K32<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1318558.15   | 0.04%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI BEACH REDEVEL 5.00% | MIAMI BEACH REDEVEL 5.00% | CUSIP: 593237FU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1791956.06   | 0.06%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH TEXAS MUNICIP 5.00% | NORTH TEXAS MUNICIP 5.00% | CUSIP: 662903G80<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3450000 | PA      | $3611916.44   | 0.12%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF EL PASO T 5.00% | COUNTY OF EL PASO T 5.00% | CUSIP: 2834975Z4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1275000 | PA      | $1301392.25   | 0.04%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF PINAL AZ 5.00%  | COUNTY OF PINAL AZ 5.00%  | CUSIP: 72205RHA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1069920.00   | 0.03%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF ESSEX NJ 4.00%  | COUNTY OF ESSEX NJ 4.00%  | CUSIP: 2968044U8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12305000 | PA      | $12432218.93  | 0.40%             | 2026-07-08      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CITY 5.00%  | SAN FRANCISCO CITY 5.00%  | CUSIP: 79766DRP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10880000 | PA      | $11249909.12  | 0.36%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF LEE FL AI 5.00% | COUNTY OF LEE FL AI 5.00% | CUSIP: 523470GG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2649165.00   | 0.09%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF SEMINOLE 5.00%  | COUNTY OF SEMINOLE 5.00%  | CUSIP: 816705KK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $734943.72    | 0.02%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF EL PASO TX 5.00%  | CITY OF EL PASO TX 5.00%  | CUSIP: 283735AB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2094187.00   | 0.07%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASHIN 5.00% | METROPOLITAN WASHIN 5.00% | CUSIP: 592647GV7<br>LEI: 7HERAVJJLN8J1DZ6AZ19 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1400000.00   | 0.04%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GRANT COUNTY PUBLIC 5.00% | GRANT COUNTY PUBLIC 5.00% | CUSIP: 387883XJ5<br>LEI: 549300XJXH7RNXS8PA58 | Long             | DBT              | MUN               | US        |   2335000 | PA      | $2348217.27   | 0.08%             | 2043-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH TEXAS TOLLWAY 5.00% | NORTH TEXAS TOLLWAY 5.00% | CUSIP: 66285WM60<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4023252.80   | 0.13%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MEDI 5.00% | NORTH CAROLINA MEDI 5.00% | CUSIP: 65821DZC8<br>LEI: SYIJ9BNVFR17R33OPQ57 | Long             | DBT              | MUN               | US        |   3055000 | PA      | $3102313.70   | 0.10%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF PHILADELPHI 5.00% | CITY OF PHILADELPHI 5.00% | CUSIP: 717813C31<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |   2725000 | PA      | $2917852.61   | 0.09%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS BAY T 2.98% | MASSACHUSETTS BAY T 2.98% | CUSIP: 57559GBR9<br>LEI: 549300CGDCL8XZK3KN03 | Long             | DBT              | MUN               | US        |  11250000 | PA      | $11250707.63  | 0.36%             | 2025-10-10      | Fixed         | 2.98%                 | No            |                  2 | On Loan: No      |
| COUNTY OF SEMINOLE 5.00%  | COUNTY OF SEMINOLE 5.00%  | CUSIP: 816705KJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    855000 | PA      | $876530.35    | 0.03%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SWEETWATER COUNTY 2 6.00% | SWEETWATER COUNTY 2 6.00% | CUSIP: 87048HAC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2655000 | PA      | $2715190.18   | 0.09%             | 2026-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HIGHER 5.00% | PENNSYLVANIA HIGHER 5.00% | CUSIP: 70917TTF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2240000 | PA      | $2286969.44   | 0.07%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF QUINCY MA 5.00%   | CITY OF QUINCY MA 5.00%   | CUSIP: 748508Y93<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11890000 | PA      | $12120311.68  | 0.39%             | 2026-07-24      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHIPPEWA VALLEY SCH 5.00% | CHIPPEWA VALLEY SCH 5.00% | CUSIP: 170016K40<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1280000 | PA      | $1328973.70   | 0.04%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER COLORADO RIVE 5.00% | LOWER COLORADO RIVE 5.00% | CUSIP: 54811GQ45<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |   1565000 | PA      | $1661243.90   | 0.05%             | 2028-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MEDI 5.00% | NORTH CAROLINA MEDI 5.00% | CUSIP: 65821DZD6<br>LEI: SYIJ9BNVFR17R33OPQ57 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1820041.83   | 0.06%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER COLORADO RIVE 5.00% | LOWER COLORADO RIVE 5.00% | CUSIP: 54811GQ37<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2182715.43   | 0.07%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF EL PASO TX 5.00%  | CITY OF EL PASO TX 5.00%  | CUSIP: 283735AC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1067941.60   | 0.03%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF RHODE ISLA 5.00% | STATE OF RHODE ISLA 5.00% | CUSIP: 762223RG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1210000 | PA      | $1266219.99   | 0.04%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MEDI 5.00% | NORTH CAROLINA MEDI 5.00% | CUSIP: 65821DZE4<br>LEI: SYIJ9BNVFR17R33OPQ57 | Long             | DBT              | MUN               | US        |   2115000 | PA      | $2253503.52   | 0.07%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PLATTE COUNTY R-III 6.25% | PLATTE COUNTY R-III 6.25% | CUSIP: 727717KM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2690000 | PA      | $2730901.18   | 0.09%             | 2026-03-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CITY OF REDMOND OR 5.00%  | CITY OF REDMOND OR 5.00%  | CUSIP: 757657YY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1048770.90   | 0.03%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN. AUTHORI FRN | ILLINOIS FIN. AUTHORI FRN | CUSIP: 45204E2L1<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   7500000 | PA      | $7492877.25   | 0.24%             | 2034-11-01      | Floating      | 4.04%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPT. O 5.00% | LOS ANGELES DEPT. O 5.00% | CUSIP: 5444952C7<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   3180000 | PA      | $3261540.29   | 0.10%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH FINC. 5.00%  | COMMONWEALTH FINC. 5.00%  | CUSIP: 20282EAJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2280000 | PA      | $2413756.43   | 0.08%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY & COUNTY OF DE 5.00% | CITY & COUNTY OF DE 5.00% | CUSIP: 249182LA2<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   3865000 | PA      | $4041981.83   | 0.13%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BAY AREA TOLL AUTHORI FRN | BAY AREA TOLL AUTHORI FRN | CUSIP: 072024XT4<br>LEI: 5493001FUZGUQMIP5D78 | Long             | DBT              | MUN               | US        |   8500000 | PA      | $8330303.45   | 0.27%             | 2056-04-01      | Floating      | 3.19%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY COUNTY HIGH FRN | ALLEGHENY COUNTY HIGH FRN | CUSIP: 01729EKZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4984227.50   | 0.16%             | 2033-02-01      | Floating      | 3.18%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY COUNTY HOSP FRN | ALLEGHENY COUNTY HOSP FRN | CUSIP: 01728A5V4<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |  40000000 | PA      | $39663196.00  | 1.27%             | 2047-11-15      | Floating      | 3.59%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACIL FRN | COLORADO HEALTH FACIL FRN | CUSIP: 19648FVM3<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |  22100000 | PA      | $21966325.94  | 0.71%             | 2061-05-15      | Floating      | 3.44%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT STATE HEA VAR | CONNECTICUT STATE HEA VAR | CUSIP: 20775DUX8<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4996223.00   | 0.16%             | 2048-07-01      | Variable      | 2.80%                 | No            |                  2 | On Loan: No      |
| DEVELOPMENT AUTHORITY VAR | DEVELOPMENT AUTHORITY VAR | CUSIP: 610530FV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003852.80   | 0.03%             | 2042-06-01      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| PIONEER NATURAL RES 5.10% | PIONEER NATURAL RES 5.10% | CUSIP: 723787AV9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10048869.60  | 0.32%             | 2026-03-29      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| ILLINOIS HOUSING DE 3.70% | ILLINOIS HOUSING DE 3.70% | CUSIP: 45203MTJ0<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |    800000 | PA      | $800000.00    | 0.03%             | 2025-10-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| MISSOURI HIGHWAY & 5.00%  | MISSOURI HIGHWAY & 5.00%  | CUSIP: 60636WTJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  20000000 | PA      | $20285652.00  | 0.65%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF LUBBOCK TX 5.00%  | CITY OF LUBBOCK TX 5.00%  | CUSIP: 549203YP6<br>LEI: 549300I1QTL3QZV4BX74 | Long             | DBT              | MUN               | US        |    675000 | PA      | $683551.31    | 0.02%             | 2026-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PROSPER INDEPENDENT 5.00% | PROSPER INDEPENDENT 5.00% | CUSIP: 7436003V8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2110000 | PA      | $2182127.19   | 0.07%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT OF SEATTLE WA 5.00%  | PORT OF SEATTLE WA 5.00%  | CUSIP: 735389G69<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   2055000 | PA      | $2165662.78   | 0.07%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF WASHINGTON 5.00% | STATE OF WASHINGTON 5.00% | CUSIP: 93974E5C6<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |  22525000 | PA      | $23521625.38  | 0.76%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTHORITY OF N 5.00% | PORT AUTHORITY OF N 5.00% | CUSIP: 73358XNG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  15005000 | PA      | $15606320.87  | 0.50%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA HOUSING F 3.25% | MINNESOTA HOUSING F 3.25% | CUSIP: 60416UNU5<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   5875000 | PA      | $5893488.63   | 0.19%             | 2027-08-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CITY OF DALLAS TX 5.00%   | CITY OF DALLAS TX 5.00%   | CUSIP: 235219ZF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1160000 | PA      | $1213323.69   | 0.04%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF WASHINGTON 5.00% | STATE OF WASHINGTON 5.00% | CUSIP: 93972AFB7<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   6800000 | PA      | $7188260.28   | 0.23%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KUBOTA CREDIT OWNER 4.61% | KUBOTA CREDIT OWNER 4.61% | CUSIP: 50117FAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2850000 | PA      | $2861866.83   | 0.09%             | 2027-12-15      | Fixed         | 4.61%                 | Yes           |                  2 | On Loan: No      |
| ALBUQUERQUE MUNICIP 5.00% | ALBUQUERQUE MUNICIP 5.00% | CUSIP: 013595ZN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2150000 | PA      | $2193993.52   | 0.07%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF RICHARDSON 5.00%  | CITY OF RICHARDSON 5.00%  | CUSIP: 7632273G8<br>LEI: 549300YMK2Z7UGNHHQ13 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2070292.00   | 0.07%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PAULDING COUNTY SCH 5.00% | PAULDING COUNTY SCH 5.00% | CUSIP: 703600GF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3100732.50   | 0.10%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL FLORIDA EXP 5.00% | CENTRAL FLORIDA EXP 5.00% | CUSIP: 153476AQ9<br>LEI: 549300JL23Z3Z64M6K65 | Long             | DBT              | MUN               | US        |   1950000 | PA      | $1984784.49   | 0.06%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHEMEKETA COMMUNITY 5.00% | CHEMEKETA COMMUNITY 5.00% | CUSIP: 163597JF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4274035.60   | 0.14%             | 2028-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON HEALTH C 5.00% | WASHINGTON HEALTH C 5.00% | CUSIP: 93978HB61<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |   2790000 | PA      | $2955588.45   | 0.09%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBIA VAR  | DISTRICT OF COLUMBIA VAR  | CUSIP: 25477PQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2497016.75   | 0.08%             | 2041-09-01      | Variable      | 2.87%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FIN. 4.25% | AMERICAN HONDA FIN. 4.25% | CUSIP: 02665WGK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10025289.80  | 0.32%             | 2028-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| COUNTY OF DANE WI 4.00%   | COUNTY OF DANE WI 4.00%   | CUSIP: 236092RX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3965000 | PA      | $4039214.89   | 0.13%             | 2027-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CITY OF AUSTIN TX 5.00%   | CITY OF AUSTIN TX 5.00%   | CUSIP: 0523973E4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3750299.35   | 0.12%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FRASER PUBLIC SCHOO 5.00% | FRASER PUBLIC SCHOO 5.00% | CUSIP: 355514PX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1415000 | PA      | $1433384.10   | 0.05%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF MANHATTAN K 4.00% | CITY OF MANHATTAN K 4.00% | CUSIP: 562895XX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  19150000 | PA      | $19314385.52  | 0.62%             | 2028-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| STATE OF KANSAS DEP 5.00% | STATE OF KANSAS DEP 5.00% | CUSIP: 485424TM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8645000 | PA      | $9075967.95   | 0.29%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SEMINOLE COUNTY SCH 5.00% | SEMINOLE COUNTY SCH 5.00% | CUSIP: 816696AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4180000 | PA      | $4180000.00   | 0.13%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY TURNPIKE 5.00% | NEW JERSEY TURNPIKE 5.00% | CUSIP: 6461396K6<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   2775000 | PA      | $2858708.43   | 0.09%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY PUBLIC ENERG VAR | KENTUCKY PUBLIC ENERG VAR | CUSIP: 74440DCM4<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |  15435000 | PA      | $15783556.26  | 0.51%             | 2050-02-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| KOOTENAI COUNTY SCH 4.00% | KOOTENAI COUNTY SCH 4.00% | CUSIP: 500548GK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3067252.50   | 0.10%             | 2027-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SEASONED LOANS STRU 3.50% | SEASONED LOANS STRU 3.50% | CUSIP: 35564CAN7<br>LEI: N/A                  | Long             | ABS-O            | USGA              | US        |   6199460 | PA      | $6070902.28   | 0.19%             | 2028-11-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MARYLAND STADIUM AU 5.00% | MARYLAND STADIUM AU 5.00% | CUSIP: 574294AD6<br>LEI: 549300VA283TTQRDNF71 | Long             | DBT              | MUN               | US        |   2180000 | PA      | $2215816.75   | 0.07%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSPOR FRN | METROPOLITAN TRANSPOR FRN | CUSIP: 59261AM87<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |  40000000 | PA      | $40010932.00  | 1.28%             | 2042-11-15      | Floating      | 3.42%                 | No            |                  2 | On Loan: No      |
| UBS AG/NEW YORK NY 5.00%  | UBS AG/NEW YORK NY 5.00%  | CUSIP: 22550L2K6<br>LEI: 549300D0YARF5HYP1809 | Long             | DBT              | CORP              | CH        |   6458000 | PA      | $6566670.38   | 0.21%             | 2027-07-09      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS COUNTY FLOOD 5.00% | HARRIS COUNTY FLOOD 5.00% | CUSIP: 414019BA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $375000.00    | 0.01%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SEATTLE WA MU FRN | CITY OF SEATTLE WA MU FRN | CUSIP: 812643WU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7520000 | PA      | $7453139.68   | 0.24%             | 2045-05-01      | Floating      | 3.14%                 | No            |                  2 | On Loan: No      |
| FRASER PUBLIC SCHOO 5.00% | FRASER PUBLIC SCHOO 5.00% | CUSIP: 355514PY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2850000 | PA      | $2954536.58   | 0.09%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ADAMS & ARAPAHOE JO 5.50% | ADAMS & ARAPAHOE JO 5.50% | CUSIP: 0054824G6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3340000 | PA      | $3459470.46   | 0.11%             | 2026-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DECATUR TOWNSHIP MU 5.00% | DECATUR TOWNSHIP MU 5.00% | CUSIP: 243360JB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1385000 | PA      | $1441985.55   | 0.05%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRISTOL WARREN REGI 5.00% | BRISTOL WARREN REGI 5.00% | CUSIP: 110377DP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  25000000 | PA      | $25361067.50  | 0.81%             | 2026-06-04      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ASSET LIAB 5.00% | KENTUCKY ASSET LIAB 5.00% | CUSIP: 49118NGE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6290000 | PA      | $6421681.78   | 0.21%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRE COUNTY HOSPI 5.00% | CENTRE COUNTY HOSPI 5.00% | CUSIP: 156273FH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6250000 | PA      | $6266883.13   | 0.20%             | 2046-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KEYBANK NA/CLEVELAN 4.70% | KEYBANK NA/CLEVELAN 4.70% | CUSIP: 49327M3G7<br>LEI: HUX2X73FUCYHUVH1BK78 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1250752.86   | 0.04%             | 2026-01-26      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPT. O 5.00% | LOS ANGELES DEPT. O 5.00% | CUSIP: 544532GJ7<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   1990000 | PA      | $2023414.49   | 0.06%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY & COUNTY OF DE 5.00% | CITY & COUNTY OF DE 5.00% | CUSIP: 249183YL2<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5017466.50   | 0.16%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA HOUSI 3.55% | WEST VIRGINIA HOUSI 3.55% | CUSIP: 95662NLR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $476866.18    | 0.02%             | 2026-11-01      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAP. AMERIC 5.25% | HYUNDAI CAP. AMERIC 5.25% | CUSIP: 44891ACT2<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5053498.15   | 0.16%             | 2027-01-08      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| MULTNOMAH COUNTY SC 5.00% | MULTNOMAH COUNTY SC 5.00% | CUSIP: 625574QE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    695000 | PA      | $740541.68    | 0.02%             | 2028-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF WILLIAMSO 5.00% | COUNTY OF WILLIAMSO 5.00% | CUSIP: 969888CX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $931879.08    | 0.03%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SCHOOL DISTRICT OF 5.00%  | SCHOOL DISTRICT OF 5.00%  | CUSIP: 115065E26<br>LEI: 5493006KVNQDJ1D0OD92 | Long             | DBT              | MUN               | US        |   6710000 | PA      | $7151094.60   | 0.23%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF ILLINOIS 5.00%   | STATE OF ILLINOIS 5.00%   | CUSIP: 452152Q61<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |  12435000 | PA      | $12740322.77  | 0.41%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF ALBUQUERQUE 5.00% | CITY OF ALBUQUERQUE 5.00% | CUSIP: 013519CG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1715000 | PA      | $1746628.03   | 0.06%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCKFORD PUBLIC SCH 5.00% | ROCKFORD PUBLIC SCH 5.00% | CUSIP: 773318XQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6185000 | PA      | $6265717.34   | 0.20%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CNH EQUIP. TST. 202 4.77% | CNH EQUIP. TST. 202 4.77% | CUSIP: 18978FAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1120000 | PA      | $1129741.31   | 0.04%             | 2029-06-15      | Fixed         | 4.77%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY CARD FNDG 5.04% | SYNCHRONY CARD FNDG 5.04% | CUSIP: 87166PAM3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2250000 | PA      | $2283224.40   | 0.07%             | 2030-03-15      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| MISSOURI PUBLIC UTI 4.00% | MISSOURI PUBLIC UTI 4.00% | CUSIP: 606374AT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11980000 | PA      | $12012916.25  | 0.39%             | 2026-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA HOUSING FIN. VAR  | FLORIDA HOUSING FIN. VAR  | CUSIP: 34074HHF2<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3034305.30   | 0.10%             | 2058-07-01      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| HSBC HLDGS. PLC FRN       | HSBC HLDGS. PLC FRN       | CUSIP: 404280ET2<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   6000000 | PA      | $6022829.40   | 0.19%             | 2029-03-03      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA CAPITOL IM 5.00% | OKLAHOMA CAPITOL IM 5.00% | CUSIP: 678514DT4<br>LEI: 549300LYHYBINTZ5AY71 | Long             | DBT              | MUN               | US        |    510000 | PA      | $544945.35    | 0.02%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BAY AREA TOLL AUTHORI FRN | BAY AREA TOLL AUTHORI FRN | CUSIP: 072024XA5<br>LEI: 5493001FUZGUQMIP5D78 | Long             | DBT              | MUN               | US        |   8750000 | PA      | $8705550.00   | 0.28%             | 2056-04-01      | Floating      | 3.34%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN. AUTHOR 5.00% | INDIANA FIN. AUTHOR 5.00% | CUSIP: 45506EMR1<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   2710000 | PA      | $2855340.82   | 0.09%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SOMERVILLE 5.00%  | CITY OF SOMERVILLE 5.00%  | CUSIP: 835241MV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  23230000 | PA      | $23633077.67  | 0.76%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MULTNOMAH COUNTY SC 5.00% | MULTNOMAH COUNTY SC 5.00% | CUSIP: 625574QD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4680000 | PA      | $4870245.74   | 0.16%             | 2027-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FRISCO INDEPENDENT 5.00%  | FRISCO INDEPENDENT 5.00%  | CUSIP: 35880C2Q6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4850000 | PA      | $5132924.75   | 0.16%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FAC 5.00% | COLORADO HEALTH FAC 5.00% | CUSIP: 19648FKD5<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5192881.00   | 0.17%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY TURNPIKE 5.00% | NEW JERSEY TURNPIKE 5.00% | CUSIP: 646140JK0<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   3485000 | PA      | $3680053.36   | 0.12%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA PUBLIC SCH 5.00% | VIRGINIA PUBLIC SCH 5.00% | CUSIP: 92818HK59<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12460000 | PA      | $13377261.59  | 0.43%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHTENAW COUNTY IN 5.00% | WASHTENAW COUNTY IN 5.00% | CUSIP: 941009CW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4360000 | PA      | $4530268.46   | 0.15%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHEVRON USA INC FRN       | CHEVRON USA INC FRN       | CUSIP: 166756BM7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10032610.30  | 0.32%             | 2028-08-13      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBI 2.95% | DISTRICT OF COLUMBI 2.95% | CUSIP: 25477PQF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4496899.50   | 0.14%             | 2028-09-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| YAKIMA COUNTY SCHOO 5.00% | YAKIMA COUNTY SCHOO 5.00% | CUSIP: 984392FY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1605000 | PA      | $1690580.37   | 0.05%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA LOCAL GOV 5.00% | LOUISIANA LOCAL GOV 5.00% | CUSIP: 54628C4A7<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1039710.70   | 0.03%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NOBLESVILLE SCHOOLS 6.00% | NOBLESVILLE SCHOOLS 6.00% | CUSIP: 655165DN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1635000 | PA      | $1786937.12   | 0.06%             | 2028-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GRP. OF 4.45%  | VOLKSWAGEN GRP. OF 4.45%  | CUSIP: 928668CV2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12300000 | PA      | $12329874.49  | 0.40%             | 2027-09-11      | Fixed         | 4.45%                 | Yes           |                  2 | On Loan: No      |
| PAGAYA AI DEBT GRA 4.497% | PAGAYA AI DEBT GRA 4.497% | CUSIP: 69549BAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2400000 | PA      | $2400634.56   | 0.08%             | 2033-04-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| COMMONWEALTH OF PEN 5.00% | COMMONWEALTH OF PEN 5.00% | CUSIP: 70914PE32<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7170000 | PA      | $7333896.16   | 0.24%             | 2027-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WATER 5.00%  | METROPOLITAN WATER 5.00%  | CUSIP: 167560SU6<br>LEI: 254900GOGQEZEWCZ4D37 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003767.60   | 0.03%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPT. O 5.00% | LOS ANGELES DEPT. O 5.00% | CUSIP: 5444954E1<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   1930000 | PA      | $1962407.02   | 0.06%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IPS MULTI-SCHOOL BL 4.00% | IPS MULTI-SCHOOL BL 4.00% | CUSIP: 46263RNS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7200000 | PA      | $7404405.84   | 0.24%             | 2027-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPT. O 5.00% | LOS ANGELES DEPT. O 5.00% | CUSIP: 5444957D0<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   2225000 | PA      | $2315967.35   | 0.07%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NI US GOV T PORTFOLIO     | NI US GOV T PORTFOLIO     | CUSIP: 665278404<br>LEI: 549300Y178DO5JBR1S04 | Long             | STIV             | RF                | US        |  29048174 | NS      | $29048173.70  | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| ING GROEP NV FRN          | ING GROEP NV FRN          | CUSIP: 456837AX1<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |  23800000 | PA      | $23853513.35  | 0.77%             | 2027-04-01      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS FRN | BLACK BELT ENERGY GAS FRN | CUSIP: 09182TAN7<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |  29000000 | PA      | $28630783.60  | 0.92%             | 2052-10-01      | Floating      | 3.24%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT STATE HEA VAR | CONNECTICUT STATE HEA VAR | CUSIP: 20775DUY6<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   9635000 | PA      | $9627913.46   | 0.31%             | 2057-07-01      | Variable      | 2.80%                 | No            |                  2 | On Loan: No      |
| KENVUE INC 5.05%          | KENVUE INC 5.05%          | CUSIP: 49177JAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8000000 | PA      | $8173288.08   | 0.26%             | 2028-03-22      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| CITY OF HOUSTON TX 5.00%  | CITY OF HOUSTON TX 5.00%  | CUSIP: 442332CR1<br>LEI: 549300C64URYS0WQQY42 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1058999.30   | 0.03%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO PARK DISTRI 5.00% | CHICAGO PARK DISTRI 5.00% | CUSIP: 1676153J0<br>LEI: 549300DNSTZGBZLIU409 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2010467.80   | 0.06%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN MUNICIPAL 5.00%  | AMERICAN MUNICIPAL 5.00%  | CUSIP: 02765URN6<br>LEI: EARKGGZJJEMVD66XQ486 | Long             | DBT              | MUN               | US        |   6765000 | PA      | $6987966.96   | 0.22%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF PIMA AZ 5.00%   | COUNTY OF PIMA AZ 5.00%   | CUSIP: 721664KP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2860000 | PA      | $3011183.89   | 0.10%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF CONNECTICU 5.00% | STATE OF CONNECTICU 5.00% | CUSIP: 20772KB81<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |  12100000 | PA      | $12755056.49  | 0.41%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORT WORTH INDEPEND 5.00% | FORT WORTH INDEPEND 5.00% | CUSIP: 349461FJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2570000 | PA      | $2662093.89   | 0.09%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MUNICIPAL ELEC. AUT 5.00% | MUNICIPAL ELEC. AUT 5.00% | CUSIP: 626207U85<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |   9040000 | PA      | $9195987.01   | 0.30%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DUVAL COUNTY PUBLIC 5.00% | DUVAL COUNTY PUBLIC 5.00% | CUSIP: 267169HM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2850000 | PA      | $2975539.08   | 0.10%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAKE COUNTY SCHOOL 5.00%  | LAKE COUNTY SCHOOL 5.00%  | CUSIP: 50825JLZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1205930.46   | 0.04%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON & MULTNO 5.00% | WASHINGTON & MULTNO 5.00% | CUSIP: 9384292Y2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1355000 | PA      | $1448197.44   | 0.05%             | 2028-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WAYNE STATE UNIVERS 5.00% | WAYNE STATE UNIVERS 5.00% | CUSIP: 946303J70<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $525190.50    | 0.02%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WYANDOTTE COUNTY-KA 4.00% | WYANDOTTE COUNTY-KA 4.00% | CUSIP: 98267ADF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2065000 | PA      | $2122963.93   | 0.07%             | 2027-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| STATE OF LOUISIANA 5.00%  | STATE OF LOUISIANA 5.00%  | CUSIP: 546475XB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2635000 | PA      | $2739156.02   | 0.09%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAINE STATE HOUSING 2.90% | MAINE STATE HOUSING 2.90% | CUSIP: 56052FV85<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4400000 | PA      | $4397194.56   | 0.14%             | 2027-11-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| ZIONSVILLE COMMUNIT 5.00% | ZIONSVILLE COMMUNIT 5.00% | CUSIP: 98972LPW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1443937.88   | 0.05%             | 2027-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF DANE WI 5.00%   | COUNTY OF DANE WI 5.00%   | CUSIP: 236092LS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3400000 | PA      | $3597939.84   | 0.12%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSP 5.00% | METROPOLITAN TRANSP 5.00% | CUSIP: 59261A5T0<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   9370000 | PA      | $10012263.84  | 0.32%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SYSCO CORP 3.25%          | SYSCO CORP 3.25%          | CUSIP: 871829BF3<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | DBT              | CORP              | US        |   7646000 | PA      | $7541516.87   | 0.24%             | 2027-07-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-ST PAUL 5.00% | MINNEAPOLIS-ST PAUL 5.00% | CUSIP: 603827WT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11705000 | PA      | $12058836.30  | 0.39%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMS. INC 4.329% | VERIZON COMMS. INC 4.329% | CUSIP: 92343VER1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  21400000 | PA      | $21552783.59  | 0.69%             | 2028-09-21      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC 5.50% | NEW JERSEY ECONOMIC 5.50% | CUSIP: 64577BTQ7<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4143384.40   | 0.13%             | 2030-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPT. O 5.00% | LOS ANGELES DEPT. O 5.00% | CUSIP: 544532AT1<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   4035000 | PA      | $4102752.49   | 0.13%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL PUGET SOUND R FRN | CENTRAL PUGET SOUND R FRN | CUSIP: 15504RGN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  24000000 | PA      | $23842965.60  | 0.77%             | 2045-11-01      | Floating      | 3.09%                 | No            |                  2 | On Loan: No      |
| NATWEST MARKETS PLC FRN   | NATWEST MARKETS PLC FRN   | CUSIP: 63906YAE8<br>LEI: RR3QWICWWIPCS8A4S074 | Long             | DBT              | CORP              | GB        |   7800000 | PA      | $7820462.44   | 0.25%             | 2026-09-29      | Floating      | 5.12%                 | Yes           |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINAN FRN | SUMITOMO MITSUI FINAN FRN | CUSIP: 86562MCL2<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |   9880000 | PA      | $9936020.29   | 0.32%             | 2027-01-14      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| DELAWARE VALLEY REGIO FRN | DELAWARE VALLEY REGIO FRN | CUSIP: 246579LN4<br>LEI: 549300HGYP3NW885TT18 | Long             | DBT              | MUN               | US        |   7000000 | PA      | $6980402.10   | 0.22%             | 2057-03-01      | Floating      | 3.29%                 | No            |                  2 | On Loan: No      |
| MINNESOTA MUNICIPAL G FRN | MINNESOTA MUNICIPAL G FRN | CUSIP: 60406UAN7<br>LEI: 549300SISI6N1C6S3136 | Long             | DBT              | MUN               | US        |  40000000 | PA      | $39993800.00  | 1.28%             | 2052-12-01      | Floating      | 3.77%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUNICIPAL VAR  | CALIFORNIA MUNICIPAL VAR  | CUSIP: 13048RAL1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3963485.60   | 0.13%             | 2041-10-01      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| ARIZONA HEALTH FACILI FRN | ARIZONA HEALTH FACILI FRN | CUSIP: 040507QQ1<br>LEI: PLD0E0WJKFN8IZJ2WD85 | Long             | DBT              | MUN               | US        |   1495000 | PA      | $1494878.01   | 0.05%             | 2046-01-01      | Floating      | 3.14%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG/NEW F2F  | DEUTSCHE BANK AG/NEW F2F  | CUSIP: 251526CU1<br>LEI: N/A                  | Long             | DBT              | CORP              | DE        |  20809000 | PA      | $22258526.43  | 0.71%             | 2029-11-20      | Fixed         | 6.82%                 | No            |                  2 | On Loan: No      |
| COUNTY OF MERCER NJ 3.00% | COUNTY OF MERCER NJ 3.00% | CUSIP: 587839M73<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2830000 | PA      | $2831898.36   | 0.09%             | 2026-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT STATE H 5.00% | CONNECTICUT STATE H 5.00% | CUSIP: 20775DYD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5500000 | PA      | $5728784.60   | 0.18%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF PLANO TX 5.00%    | CITY OF PLANO TX 5.00%    | CUSIP: 727177ZF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3406895.38   | 0.11%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SANTANDER DRIVE AUT 5.14% | SANTANDER DRIVE AUT 5.14% | CUSIP: 802920AG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6545000 | PA      | $6590074.76   | 0.21%             | 2032-02-17      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| ALASKA HOUSING FIN. 5.00% | ALASKA HOUSING FIN. 5.00% | CUSIP: 011839XJ1<br>LEI: 549300HJ8NOJNYW6ER36 | Long             | DBT              | MUN               | US        |   2605000 | PA      | $2713224.20   | 0.09%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA RES. AUTHO 5.00% | VIRGINIA RES. AUTHO 5.00% | CUSIP: 92818PF81<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2095000 | PA      | $2209512.07   | 0.07%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONMOUTH COUNTY IMP 4.00% | MONMOUTH COUNTY IMP 4.00% | CUSIP: 60956PS78<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  35000000 | PA      | $35192650.50  | 1.13%             | 2026-03-13      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| STATE OF NORTH CARO 5.00% | STATE OF NORTH CARO 5.00% | CUSIP: 658268EZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12640000 | PA      | $13416700.19  | 0.43%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ENERGY NORTHWEST 5.00%    | ENERGY NORTHWEST 5.00%    | CUSIP: 29270C6X8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3260000 | PA      | $3487769.03   | 0.11%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAKE COUNTY SCHOOL 5.00%  | LAKE COUNTY SCHOOL 5.00%  | CUSIP: 50825JLY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1945000 | PA      | $2020903.43   | 0.06%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH OF PEN 5.00% | COMMONWEALTH OF PEN 5.00% | CUSIP: 70914P4L3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12225000 | PA      | $12492141.92  | 0.40%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PLATTE COUNTY R-III 6.25% | PLATTE COUNTY R-III 6.25% | CUSIP: 727717KN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2960000 | PA      | $3112848.78   | 0.10%             | 2027-03-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANS 5.00% | NEW YORK CITY TRANS 5.00% | CUSIP: 64972LAU7<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7316588.30   | 0.23%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DECATUR TOWNSHIP MU 5.00% | DECATUR TOWNSHIP MU 5.00% | CUSIP: 243360JD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2530000 | PA      | $2693888.85   | 0.09%             | 2028-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF LOUISIANA 5.00%  | STATE OF LOUISIANA 5.00%  | CUSIP: 546475XC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5324248.00   | 0.17%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NOBLESVILLE SCHOOLS 6.00% | NOBLESVILLE SCHOOLS 6.00% | CUSIP: 655165DK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $521665.80    | 0.02%             | 2027-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ZIONSVILLE COMMUNIT 5.00% | ZIONSVILLE COMMUNIT 5.00% | CUSIP: 98972LPX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    510000 | PA      | $532168.48    | 0.02%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF DANE WI 5.00%   | COUNTY OF DANE WI 5.00%   | CUSIP: 236092LR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4560000 | PA      | $4719035.47   | 0.15%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY TURNPIKE 5.00% | NEW JERSEY TURNPIKE 5.00% | CUSIP: 6461397B5<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   3835000 | PA      | $3954042.24   | 0.13%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BP CAP. MKTS. AMER 3.119% | BP CAP. MKTS. AMER 3.119% | CUSIP: 10373QAT7<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9950237.60   | 0.32%             | 2026-05-04      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| INTERNATIONAL BUSIN 3.30% | INTERNATIONAL BUSIN 3.30% | CUSIP: 459200JZ5<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |   9000000 | PA      | $8959400.64   | 0.29%             | 2026-05-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| STATE OF COLORADO 5.00%   | STATE OF COLORADO 5.00%   | CUSIP: 196711TN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1355633.28   | 0.04%             | 2025-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSPOR FRN | METROPOLITAN TRANSPOR FRN | CUSIP: 59261AL96<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    590000 | PA      | $589793.03    | 0.02%             | 2026-11-01      | Floating      | 3.20%                 | No            |                  2 | On Loan: No      |
| STATE OF NORTH CARO 5.00% | STATE OF NORTH CARO 5.00% | CUSIP: 65829QDX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3520000 | PA      | $3571302.59   | 0.11%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG/NEW FRN  | DEUTSCHE BANK AG/NEW FRN  | CUSIP: 251526CN7<br>LEI: N/A                  | Long             | DBT              | CORP              | DE        |   7500000 | PA      | $7534715.48   | 0.24%             | 2027-11-16      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN. AUTH ADJ    | MICHIGAN FIN. AUTH ADJ    | CUSIP: 59447T3W1<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |  15000000 | PA      | $14953705.50  | 0.48%             | 2047-04-15      | Floating      | 3.64%                 | No            |                  2 | On Loan: No      |
| EAST CAROLINA UNIVE 5.00% | EAST CAROLINA UNIVE 5.00% | CUSIP: 271371XD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1225000 | PA      | $1237569.97   | 0.04%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH BRIDGE & T FRN | TRIBOROUGH BRIDGE & T FRN | CUSIP: 89602HEW3<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |  15560000 | PA      | $15559220.44  | 0.50%             | 2026-04-01      | Floating      | 3.82%                 | No            |                  2 | On Loan: No      |
| HILLSBOROUGH COUNTY 5.00% | HILLSBOROUGH COUNTY 5.00% | CUSIP: 432308Q31<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1615000 | PA      | $1615000.00   | 0.05%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE HOUSI 3.80% | NEW HAMPSHIRE HOUSI 3.80% | CUSIP: 64469MQL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000855.60   | 0.03%             | 2026-07-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| COUNTY OF PALM BEAC 5.00% | COUNTY OF PALM BEAC 5.00% | CUSIP: 696543NT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001672.00   | 0.03%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN MUNICIPAL 5.00%  | AMERICAN MUNICIPAL 5.00%  | CUSIP: 02765URM8<br>LEI: EARKGGZJJEMVD66XQ486 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3026054.70   | 0.10%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAINE MUNICIPAL BD. 5.00% | MAINE MUNICIPAL BD. 5.00% | CUSIP: 56045SBA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2150000 | PA      | $2261677.45   | 0.07%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARSH & MCLENNAN COS FRN  | MARSH & MCLENNAN COS FRN  | CUSIP: 571748BZ4<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |   3530000 | PA      | $3546228.93   | 0.11%             | 2027-11-08      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| CITY OF HAMILTON OH 4.00% | CITY OF HAMILTON OH 4.00% | CUSIP: 407756P82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1675000 | PA      | $1678228.56   | 0.05%             | 2025-12-17      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO TRANSIT AUT 5.00% | CHICAGO TRANSIT AUT 5.00% | CUSIP: 16772PDV5<br>LEI: 549300CB8XLRGIPN3E12 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2364495.75   | 0.08%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA COUNTY IND 4.00% | OKLAHOMA COUNTY IND 4.00% | CUSIP: 678739XB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3425000 | PA      | $3496262.26   | 0.11%             | 2027-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI JOINT MUNI 5.00% | MISSOURI JOINT MUNI 5.00% | CUSIP: 606092PY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3885000 | PA      | $3992769.12   | 0.13%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OREGON STATE LOTTER 5.00% | OREGON STATE LOTTER 5.00% | CUSIP: 68607V5Z4<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5189253.00   | 0.17%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF NORTH CARO 5.00% | STATE OF NORTH CARO 5.00% | CUSIP: 658268EX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4020000 | PA      | $4061143.09   | 0.13%             | 2026-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN. AUTHOR 5.00% | INDIANA FIN. AUTHOR 5.00% | CUSIP: 45506EMP5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5037693.50   | 0.16%             | 2026-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF GLENDALE AZ 5.00% | CITY OF GLENDALE AZ 5.00% | CUSIP: 378352RY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3055100.70   | 0.10%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF GARLAND TX 5.00%  | CITY OF GARLAND TX 5.00%  | CUSIP: 366120FR9<br>LEI: 549300O5KXJ5HAWVEN53 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1032399.40   | 0.03%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BOARD OF REGENTS OF 2.95% | BOARD OF REGENTS OF 2.95% | CUSIP: 91514YFX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  25000000 | NS      | $25005367.50  | 0.80%             | 2025-11-04      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| CITY OF JACKSONVILL 5.00% | CITY OF JACKSONVILL 5.00% | CUSIP: 469487WJ7<br>LEI: 549300XQE0JVN9WV0J40 | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2261497.14   | 0.07%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CIVICVENTURES/AK 5.00%    | CIVICVENTURES/AK 5.00%    | CUSIP: 178860CA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    975000 | PA      | $1036358.99   | 0.03%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MORROW COUNTY SCHOO 5.00% | MORROW COUNTY SCHOO 5.00% | CUSIP: 618890DD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1432536.46   | 0.05%             | 2027-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA TURNPI 5.00% | PENNSYLVANIA TURNPI 5.00% | CUSIP: 709225PV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1055901.50   | 0.03%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN. AUTHO 5.00% | MICHIGAN FIN. AUTHO 5.00% | CUSIP: 59447UAG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2645000 | PA      | $2813709.47   | 0.09%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF ATLANTA GA 5.00%  | CITY OF ATLANTA GA 5.00%  | CUSIP: 04780M2J7<br>LEI: 549300GHLQ0J51NUBM84 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4240196.80   | 0.14%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DOUGLAS COUNTY SCHO 5.00% | DOUGLAS COUNTY SCHO 5.00% | CUSIP: 259030RA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1850000 | PA      | $1966937.39   | 0.06%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN. AUTHO 2.70% | ILLINOIS FIN. AUTHO 2.70% | CUSIP: 45203UAJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8000000 | NS      | $7999128.00   | 0.26%             | 2025-12-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPT. O 5.00% | LOS ANGELES DEPT. O 5.00% | CUSIP: 5444954F8<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   3040000 | PA      | $3164287.97   | 0.10%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN. AUTHOR 5.00% | INDIANA FIN. AUTHOR 5.00% | CUSIP: 45506EEU3<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1765000 | PA      | $1778305.81   | 0.06%             | 2026-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE VALLEY REGIO FRN | DELAWARE VALLEY REGIO FRN | CUSIP: 246579LL8<br>LEI: 549300HGYP3NW885TT18 | Long             | DBT              | MUN               | US        |  11000000 | PA      | $10984575.80  | 0.35%             | 2057-03-01      | Floating      | 3.26%                 | No            |                  2 | On Loan: No      |
| STATE OF LOUISIANA GA FRN | STATE OF LOUISIANA GA FRN | CUSIP: 546475VU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12015000 | PA      | $11986722.70  | 0.38%             | 2043-05-01      | Floating      | 3.39%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STRAT. FUN 5.00% | MICHIGAN STRAT. FUN 5.00% | CUSIP: 594698TG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3090000 | PA      | $3182212.71   | 0.10%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF KING WA 5.00%   | COUNTY OF KING WA 5.00%   | CUSIP: 49474FR93<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6730000 | PA      | $6932255.34   | 0.22%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL 5.40% | GENERAL MOTORS FINL 5.40% | CUSIP: 37045XEQ5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5084768.15   | 0.16%             | 2027-05-08      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| COUNTY OF CHARLES M 5.00% | COUNTY OF CHARLES M 5.00% | CUSIP: 159808UH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3815000 | PA      | $4016921.08   | 0.13%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CARMEL CLAY SCHOOLS 5.00% | CARMEL CLAY SCHOOLS 5.00% | CUSIP: 143267GT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2405000 | PA      | $2479858.75   | 0.08%             | 2027-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLACKAMAS & WASHING 5.00% | CLACKAMAS & WASHING 5.00% | CUSIP: 178882QM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8310000 | PA      | $8666245.55   | 0.28%             | 2027-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PALM BEACH COUNTY S 5.00% | PALM BEACH COUNTY S 5.00% | CUSIP: 696550L83<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4675000 | PA      | $4889533.41   | 0.16%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF HARTFORD CT 5.00% | CITY OF HARTFORD CT 5.00% | CUSIP: 416464AM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7140144.20   | 0.23%             | 2026-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTERN MICHIGAN UN 5.00% | WESTERN MICHIGAN UN 5.00% | CUSIP: 958638ZS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4595000 | PA      | $4820662.29   | 0.15%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ESSEX COUNTY IMPROV 5.00% | ESSEX COUNTY IMPROV 5.00% | CUSIP: 296807MM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2485000 | PA      | $2511600.93   | 0.08%             | 2026-03-17      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROPER TECHS. INC 4.25%    | ROPER TECHS. INC 4.25%    | CUSIP: 776696AK2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10332000 | PA      | $10380265.42  | 0.33%             | 2028-09-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CIVICVENTURES/AK 5.00%    | CIVICVENTURES/AK 5.00%    | CUSIP: 178860BZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    930000 | PA      | $969734.53    | 0.03%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF ILLINOIS 5.25%   | STATE OF ILLINOIS 5.25%   | CUSIP: 452153NN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  23415000 | PA      | $25082251.03  | 0.81%             | 2028-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS SCHOO 5.00% | MASSACHUSETTS SCHOO 5.00% | CUSIP: 576000E82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8120000 | PA      | $8616476.29   | 0.28%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE DORM 5.00% | NEW YORK STATE DORM 5.00% | CUSIP: 64990KHG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1061815.10   | 0.03%             | 2028-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RICHMOND COUNTY BOA 5.00% | RICHMOND COUNTY BOA 5.00% | CUSIP: 764581KQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11705000 | PA      | $12591055.62  | 0.40%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNIT 5.00% | CALIFORNIA COMMUNIT 5.00% | CUSIP: 13013JGS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1839158.13   | 0.06%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARK COUNTY SCHOOL 5.00% | CLARK COUNTY SCHOOL 5.00% | CUSIP: 181059D78<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2900000 | PA      | $3028289.91   | 0.10%             | 2027-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPT. O 5.00% | LOS ANGELES DEPT. O 5.00% | CUSIP: 5444954Z4<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   2600000 | PA      | $2633661.94   | 0.08%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA MUNICIPAL G VAR | MINNESOTA MUNICIPAL G VAR | CUSIP: 60406UAM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2046572.00   | 0.07%             | 2052-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH VAR | SOUTHEAST ENERGY AUTH VAR | CUSIP: 84136FBB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7100000 | PA      | $7450404.88   | 0.24%             | 2053-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY VAR  | CALIFORNIA COMMUNITY VAR  | CUSIP: 13013JBJ4<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   4745000 | PA      | $4857127.20   | 0.16%             | 2053-05-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| CITY OF ATLANTA GA 5.00%  | CITY OF ATLANTA GA 5.00%  | CUSIP: 047772K80<br>LEI: 549300GHLQ0J51NUBM84 | Long             | DBT              | MUN               | US        |   1575000 | PA      | $1580874.12   | 0.05%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CUYAHOGA METROPOLITAN VAR | CUYAHOGA METROPOLITAN VAR | CUSIP: 23239TAD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2005114.40   | 0.06%             | 2027-12-01      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| CITY OF DALLAS TX 5.00%   | CITY OF DALLAS TX 5.00%   | CUSIP: 235219UU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5565000 | PA      | $5891411.74   | 0.19%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY & COUNTY OF DE 5.00% | CITY & COUNTY OF DE 5.00% | CUSIP: 249182TR7<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |  15560000 | PA      | $15985047.85  | 0.51%             | 2026-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MERCEDES-BENZ AUTO 4.80%  | MERCEDES-BENZ AUTO 4.80%  | CUSIP: 587918AD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6000000 | PA      | $6040746.60   | 0.19%             | 2029-04-16      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| BMW VEHICLE LEASE T 5.00% | BMW VEHICLE LEASE T 5.00% | CUSIP: 05611UAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6100000 | PA      | $6154900.00   | 0.20%             | 2027-06-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF WISCONSIN 5.00%  | STATE OF WISCONSIN 5.00%  | CUSIP: 97705MM69<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7375000 | PA      | $7854297.56   | 0.25%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSP 5.00% | METROPOLITAN TRANSP 5.00% | CUSIP: 59261AWY9<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   2675000 | PA      | $2805510.31   | 0.09%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLLIN COUNTY COMMU 5.00% | COLLIN COUNTY COMMU 5.00% | CUSIP: 194742FL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5580000 | PA      | $5836589.05   | 0.19%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF CHICAGO IL 5.00%  | CITY OF CHICAGO IL 5.00%  | CUSIP: 167727YW0<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2360202.04   | 0.08%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EXETER AUTOMOBILE R 5.89% | EXETER AUTOMOBILE R 5.89% | CUSIP: 30168JAF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2300000 | PA      | $2360176.74   | 0.08%             | 2031-07-15      | Fixed         | 5.89%                 | No            |                  2 | On Loan: No      |
| JACKSON COUNTY CONS 6.00% | JACKSON COUNTY CONS 6.00% | CUSIP: 467484SK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2830000 | PA      | $2967162.18   | 0.10%             | 2027-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| STATE OF RHODE ISLA 5.00% | STATE OF RHODE ISLA 5.00% | CUSIP: 762223RF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1040000 | PA      | $1061384.79   | 0.03%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF GARLAND TX 5.00%  | CITY OF GARLAND TX 5.00%  | CUSIP: 366120FQ1<br>LEI: 549300O5KXJ5HAWVEN53 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1008794.10   | 0.03%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLIFTON HIGHER EDUC 5.00% | CLIFTON HIGHER EDUC 5.00% | CUSIP: 187145UU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2225000 | PA      | $2242736.37   | 0.07%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ABN AMRO BANK NV FRN      | ABN AMRO BANK NV FRN      | CUSIP: 00084DBJ8<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |  20000000 | PA      | $20070408.20  | 0.64%             | 2028-07-07      | Floating      | 5.11%                 | Yes           |                  2 | On Loan: No      |
| NEW YORK CITY TRANS 5.00% | NEW YORK CITY TRANS 5.00% | CUSIP: 64972LAV5<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |  15825000 | PA      | $16891723.69  | 0.54%             | 2028-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NOBLESVILLE SCHOOLS 6.00% | NOBLESVILLE SCHOOLS 6.00% | CUSIP: 655165DM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1345000 | PA      | $1448287.53   | 0.05%             | 2028-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN. AUTHO 2.75% | ILLINOIS FIN. AUTHO 2.75% | CUSIP: 45203UAG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  17500000 | NS      | $17499916.00  | 0.56%             | 2025-11-03      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA TURNPI 5.00% | PENNSYLVANIA TURNPI 5.00% | CUSIP: 709225QT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2111803.00   | 0.07%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HIDALGO COUNTY DRAI 5.00% | HIDALGO COUNTY DRAI 5.00% | CUSIP: 429335PJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1560000 | PA      | $1628431.90   | 0.05%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWE S COS INC 4.00%      | LOWE S COS INC 4.00%      | CUSIP: 548661EU7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7450000 | PA      | $7432897.78   | 0.24%             | 2028-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA COR 3.50% | BANK OF AMERICA COR 3.50% | CUSIP: 06051GFX2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9968726.20   | 0.32%             | 2026-04-19      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| STATE OF CONNECTICU 5.00% | STATE OF CONNECTICU 5.00% | CUSIP: 20772J3V2<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |   3295000 | PA      | $3378560.87   | 0.11%             | 2026-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBI 5.00% | DISTRICT OF COLUMBI 5.00% | CUSIP: 25476FUA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2175000 | PA      | $2267652.39   | 0.07%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO INDEPEN 5.00% | SAN ANTONIO INDEPEN 5.00% | CUSIP: 796269G44<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1590000 | PA      | $1622358.09   | 0.05%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN. AUTHO 5.00% | ILLINOIS FIN. AUTHO 5.00% | CUSIP: 45203HZ54<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1850000 | PA      | $1857060.16   | 0.06%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO FRN   | JPMORGAN CHASE & CO FRN   | CUSIP: 46647PCQ7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |  11400000 | PA      | $11443283.29  | 0.37%             | 2027-09-22      | Floating      | 4.91%                 | No            |                  2 | On Loan: No      |
| HILLSBOROUGH COUNTY 5.00% | HILLSBOROUGH COUNTY 5.00% | CUSIP: 432308M50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1500000.00   | 0.05%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF WASHINGTON 4.00% | STATE OF WASHINGTON 4.00% | CUSIP: 93974EVW3<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6163291.20   | 0.20%             | 2027-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO MIDWAY INTE 5.00% | CHICAGO MIDWAY INTE 5.00% | CUSIP: 167562QD2<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3517611.30   | 0.11%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SAN ANTONIO T FRN | CITY OF SAN ANTONIO T FRN | CUSIP: 79625GFV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $9998754.00   | 0.32%             | 2048-02-01      | Floating      | 3.76%                 | No            |                  2 | On Loan: No      |
| RITENOUR CONS. SCHO 5.00% | RITENOUR CONS. SCHO 5.00% | CUSIP: 767781JK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $580545.47    | 0.02%             | 2026-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER COUNTY PU 5.00% | LANCASTER COUNTY PU 5.00% | CUSIP: 514116AC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $380907.79    | 0.01%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CARMAX AUTO OWNER T 4.92% | CARMAX AUTO OWNER T 4.92% | CUSIP: 14318WAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1007143.70   | 0.03%             | 2028-10-16      | Fixed         | 4.92%                 | No            |                  2 | On Loan: No      |
| FORD CREDIT AUTO LE 5.05% | FORD CREDIT AUTO LE 5.05% | CUSIP: 345290AE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1006543.60   | 0.03%             | 2027-06-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| JEFFERSON EXCHANGE A FRN  | JEFFERSON EXCHANGE A FRN  | CUSIP: 47405HAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4400000 | PA      | $4400000.00   | 0.14%             | 2062-06-01      | Variable      | 4.20%                 | No            |                  2 | On Loan: No      |
| STATE OF OHIO 5.00%       | STATE OF OHIO 5.00%       | CUSIP: 677523JW3<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |  12035000 | PA      | $12371798.27  | 0.40%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SPRINGFIELD 5.00% | CITY OF SPRINGFIELD 5.00% | CUSIP: 850578TX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3220000 | PA      | $3324241.06   | 0.11%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA COUNTY IND 3.25% | OKLAHOMA COUNTY IND 3.25% | CUSIP: 678705TN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  17375000 | PA      | $17498101.88  | 0.56%             | 2027-05-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CITY OF NEW YORK NY 5.00% | CITY OF NEW YORK NY 5.00% | CUSIP: 64966SKD7<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |  18780000 | PA      | $19668042.35  | 0.63%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASHIN 5.00% | METROPOLITAN WASHIN 5.00% | CUSIP: 592647NJ6<br>LEI: 7HERAVJJLN8J1DZ6AZ19 | Long             | DBT              | MUN               | US        |    550000 | PA      | $573836.67    | 0.02%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NOBLESVILLE SCHOOLS 6.00% | NOBLESVILLE SCHOOLS 6.00% | CUSIP: 655165DL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1325000 | PA      | $1404906.11   | 0.05%             | 2027-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY EDUCATIO 2.68% | NEW JERSEY EDUCATIO 2.68% | CUSIP: 64606R4Z4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9000000 | NS      | $9000689.40   | 0.29%             | 2025-12-02      | Fixed         | 2.68%                 | No            |                  2 | On Loan: No      |
| CITY OF AUSTIN TX 5.00%   | CITY OF AUSTIN TX 5.00%   | CUSIP: 0523973D6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4190525.60   | 0.13%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** Northern Funds

**Signature:** Randal E. Rein

**Name of Signer:** Randal E. Rein

**Title:** Treasurer and Principal Financial Officer