# EDGAR Filing Document

**Accession Number:** 0001020661
**File Stem:** 0001020661-25-000012
**Filing Date:** 2025-10
**Character Count:** 193190
**Document Hash:** 0b1994688e55a55ce2fea228d234b2ff
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001020661-25-000012.hdr.sgml**: 20251028

**ACCESSION NUMBER**: 0001020661-25-000012

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251028

**DATE AS OF CHANGE**: 20251028

**PERIOD START**: 20260531

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NUVEEN MULTISTATE TRUST III
- **CENTRAL INDEX KEY:** 0001020661

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0531

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07943
- **FILM NUMBER:** 251421575

**BUSINESS ADDRESS:**
- **STREET 1:** JOHN NUVEEN & CO INC
- **STREET 2:** 333 W WACKER DRIVE 32ND FLOOR
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 3129178200

**MAIL ADDRESS:**
- **STREET 1:** JOHN NUVEEN & CO INC
- **STREET 2:** 333 W WACKER DR 32ND FLOOR
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NUVEEN  MULTISTATE TRUST III
- **DATE OF NAME CHANGE:** 20040108

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NUVEEN FLAGSHIP MULTISTATE TRUST III
- **DATE OF NAME CHANGE:** 19960807

## Series and Classes Contracts Data

### Nuveen Louisiana Municipal Bond Fund (Series ID: S000000561)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000001552 | Nuveen Louisiana Municipal Bond Fund - Class A | FTLAX           |
| C000001555 | Nuveen Louisiana Municipal Bond Fund - Class I | FTLRX           |
| C000137684 | Class C                                        | FAFLX           |

## Nport-Ex

#### Portfolio of Investments August 31, 2025

#### Georgia
(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM INVESTMENTS - 98.8%

X

145,347,343

MUNICIPAL BONDS - 98.8%

X

–

CONSUMER DISCRETIONARY - 1.2%

$

2,200,000

Geo. L. Smith II Georgia World Congress Center Authority,

Georgia, Convention Center Hotel Revenue Bonds, First Tier

Series 2021A

.000

%

01/01/54

$

1,763,060

TOTAL CONSUMER DISCRETIONARY

1,763,060

EDUCATION AND CIVIC ORGANIZATIONS - 7.5%

1,250,000

Athens-Clarke County Unified Government Development

Authority, Georgia, Revenue Bonds, University of Georgia Project

- UGAREF West Precinct LLC, Series 2024

.000

06/15/44

1,141,767

1,150,000

Athens-Clarke County Unified Government Development

Authority, Georgia, Revenue Bonds, University of Georgia Project

- UGAREF West Precinct LLC, Series 2024

.000

06/15/49

991,222

750,000

Cobb County Development Authority, Georgia, Charter School

Revenue Bonds, Northwest Classical Academy, Inc. Project,

Series 2023A

.375

06/15/58

703,615

815,000

Fulton County Development Authority, Georgia, Revenue Bonds,

Georgia Tech Athletic Association Project, Series 2019A

.000

10/01/35

854,907

2,000,000

Fulton County Development Authority, Georgia, Revenue Bonds,

Robert W. Woodruff Arts Center, Inc. Project, Refunding Series

2015A

.000

03/15/36

2,009,895

2,000,000

Fulton County Development Authority, Georgia, Revenue Bonds,

Robert W. Woodruff Arts Center, Inc. Project, Series 2019A

.000

03/15/44

1,994,830

500,000

Fulton County Development Authority, Georgia, Revenue Bonds,

Spellman College, Series 2025

.000

06/01/32

562,956

2,750,000

Gwinnett County Development Authority, Georgia, Revenue

Bonds, Georgia Gwinnett College Student Housing Project,

Refunding Series 2017B

.000

07/01/40

2,770,450

TOTAL EDUCATION AND CIVIC ORGANIZATIONS

11,029,642

HEALTH CARE - 11.9%

3,590,000

Brookhaven Development Authority, Georgia, Revenue Bonds,

Children's Healthcare of Atlanta, Inc. Project, Series 2019A

.000

07/01/49

3,090,422

1,880,000

Carroll City-County Hospital Authority, Georgia, Revenue

Anticipation Certificates, Tanner Medical Center Inc. Project,

Series 2020

.000

07/01/50

1,643,451

2,590,000

Carroll City-County Hospital Authority, Georgia, Revenue

Anticipation Certificates, Tanner Medical Center Inc. Project,

Series 2025

.000

07/01/40

2,759,994

455,000

Carroll City-County Hospital Authority, Georgia, Revenue

Anticipation Certificates, Tanner Medical Center Inc. Project,

Series 2025

.000

07/01/41

479,024

420,000

Cobb County Kennestone Hospital Authority, Georgia, Revenue

Anticipation Certificates, Wellstar Health System, Series 2017A

.000

04/01/36

427,113

2,000,000

Columbia County Hospital Authority, Georgia, Revenue

Anticipation Certificates, WellStar Health System, Inc. Project,

Series 2023A

.125

04/01/53

1,985,554

2,100,000

Columbia County Hospital Authority, Georgia, Revenue

Anticipation Certificates, WellStar Health System, Inc. Project,

Series 2023A

.750

04/01/53

2,195,011

530,000

Dalton Development Authority, Georgia, Revenue Bonds,

Hamilton Health Care System Inc., Series 2024B

.000

08/15/40

558,390

2,500,000

Fulton County Development Authority, Georgia, Revenue Bonds,

Piedmont Healthcare, Inc. Project, Series 2019A - BAM Insured

.000

07/01/49

2,177,279

2,500,000

Savannah Hospital Authority, Georgia, Revenue Bonds, Saint

Joseph's/Candler Health System, Inc., Anticipation Certificate

Series 2019A

.000

07/01/43

2,197,167

TOTAL HEALTH CARE

17,513,405

#### Portfolio of Investments August 31, 2025
(continued)

#### Georgia

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HOUSING/MULTIFAMILY - 3.0%

$

750,000

College Park Housing Authority, Georgia, Multifamily Housing

Revenue Bonds, Brad Blue Sky Apartments, LLC Project, Series

2025, (Mandatory Put 4/01/28)

.450

%

04/01/44

$

758,129

3,600,000

DeKalb County Housing Authority, Georgia, Multifamily Housing

Revenue Bonds, Kensington Station Project, Series 2023

.000

12/01/33

3,617,616

TOTAL HOUSING/MULTIFAMILY

4,375,745

HOUSING/SINGLE FAMILY - 1.0%

1,500,000

Georgia Housing and Finance Authority, Single Family Mortgage

Bonds, Series 2025C

.050

12/01/45

1,505,239

TOTAL HOUSING/SINGLE FAMILY

1,505,239

TAX OBLIGATION/GENERAL - 17.3%

2,845,000

Atlanta, Georgia, General Obligation Bonds, Public Improvement

Social Series 2022A-1

.000

12/01/41

2,986,865

2,000,000

Carrollton Independent School System, Carroll County, Georgia,

General Obligation Bonds, Series 2015

.000

04/01/32

2,024,131

850,000

Coweta County Public Facilities Authority, Georgia, Revenue

Bonds, Coweta County Project, Series 2022

.000

09/01/42

881,471

1,815,000

Crisp County Hospital Authority, Georgia, Revenue Anticipation

Certificates, Crisp County Hospital Project, Series 2021

.000

07/01/46

1,587,535

1,100,000

East Point Building Authority, Georgia, Revenue Bonds, Water &

Sewer Project, Refunding Series 2017 - AGM Insured

.000

02/01/34

1,123,609

2,000,000

Fulton County, Georgia, General Obligation Bonds, General

Fund Anticipation Notes Series 2025

.000

12/30/25

2,009,581

4,000,000

Gainesville and Hall County Hospital Authority, Georgia, Revenue

Anticipation Certificates, Northeast Georgia Health Services Inc.,

Series 2017B

.250

02/15/45

4,016,337

1,120,000

Georgia State Road and Tollway Authority, Guaranteed Revenue

Bonds, Managed Lane System, Series 2021A

.000

07/15/37

1,123,923

2,000,000

Georgia State Road and Tollway Authority, Guaranteed Revenue

Bonds, Managed Lane System, Series 2021A

.000

07/15/39

1,989,224

1,625,000

Greene County School District, Georgia, General Obligation

Bonds, Series 2023

.000

06/01/48

1,436,857

1,000,000

Gwinnett County School District, Georgia, General Obligation

Bonds, Series 2019

.000

02/01/41

1,028,240

1,000,000

Jackson County School District, Georgia, General Obligation

Bonds, School Series 2025

.000

03/01/33

1,137,746

2,000,000

Vidalia School District, Toombs County, Georgia, General

Obligation Bonds, Series 2016

.000

08/01/37

2,009,004

2,325,000

Walton County Water and Sewerage Authority, Georgia, Revenue

Bonds, Oconee-Hard Creek Reservoir Project, Series 2023

.000

02/01/47

2,110,228

TOTAL TAX OBLIGATION/GENERAL

25,464,751

TAX OBLIGATION/LIMITED - 10.1%

1,500,000

Atlanta Development Authority, Georgia, Revenue Bonds, New

Downtown Atlanta Stadium Project, Second Lien Series 2015B

.000

07/01/44

1,485,203

2,500,000

Atlanta Development Authority, Georgia, Revenue Bonds, New

Downtown Atlanta Stadium Project, Senior Lien Series 2015A-1

.250

07/01/44

2,499,912

750,000

Cobb-Marietta Coliseum and Exhibit Hall Authority, Georgia,

Revenue Bonds, Cobb Galleria Centre Project Series 2025

.000

10/01/34

847,995

1,250,000

Cobb-Marietta Coliseum and Exhibit Hall Authority, Georgia,

Revenue Bonds, Cobb Galleria Centre Project Series 2025

.000

10/01/35

1,404,134

1,000,000

Cobb-Marietta Coliseum and Exhibit Hall Authority, Georgia,

Revenue Bonds, Cobb Galleria Centre Project Series 2025

.000

10/01/36

1,110,314

75,000

Cobb-Marietta Coliseum and Exhibit Hall Authority, Georgia,

Revenue Bonds, Refunding Series 1993 - NPFG Insured

.625

10/01/26

76,160

65,000

Cobb-Marietta Coliseum and Exhibit Hall Authority, Georgia,

Revenue Bonds, Refunding Series 2005 - NPFG Insured

.500

10/01/26

66,086

1,080,000

Downtown Smyrna Development Authority, Georgia, Revenue

Bonds, City of Smyrna Project, Series 2005

.250

02/01/28

1,126,579

1,671,000

Georgia Local Governments, Certificates of Participation, Georgia

Municipal Association, Series 1998A - NPFG Insured

.750

06/01/28

1,727,485

1,000,000

Perry Public Facilities Authority, Georgia, Revenue Bonds, City of

Perry Projects, Series 2025

.250

04/01/54

896,402

1,225,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured 2018A-1

.000

07/01/33

897,157

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/LIMITED

(continued)

$

1,825,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured 2018A-1

.500

%

07/01/34

$

1,824,918

985,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Taxable Restructured Cofina Project Series 2019A-2

.329

07/01/40

913,531

TOTAL TAX OBLIGATION/LIMITED

14,875,876

TRANSPORTATION - 12.1%

1,000,000

Atlanta, Georgia, Airport General Revenue Bonds, Green Series

2024A-1

.000

07/01/54

1,009,929

1,190,000

Atlanta, Georgia, Airport General Revenue Bonds, Refunding

Series 2021B

.000

07/01/38

1,171,267

2,000,000

Atlanta, Georgia, Airport General Revenue Bonds, Series 2022A

.000

07/01/47

2,022,009

2,000,000

Atlanta, Georgia, Airport Passenger Facilities Charge and

General Revenue Bonds, Subordinate Lien Series 2019D, (AMT)

.000

07/01/38

1,901,522

160,000

Augusta, Georgia, Airport Revenue Bonds, Refunding General

Series 2015A

.000

01/01/32

160,126

170,000

Augusta, Georgia, Airport Revenue Bonds, Refunding General

Series 2015A

.000

01/01/33

170,116

100,000

Augusta, Georgia, Airport Revenue Bonds, Refunding General

Series 2015A

.000

01/01/34

100,058

150,000

Augusta, Georgia, Airport Revenue Bonds, Refunding General

Series 2015A

.000

01/01/35

150,083

4,875,000

Georgia Ports Authority, Revenue Bonds, Series 2021

.000

07/01/46

4,355,415

2,000,000

Georgia Ports Authority, Revenue Bonds, Series 2021

.000

07/01/51

1,722,912

2,000,000

Georgia Ports Authority, Revenue Bonds, Series 2022

.000

07/01/47

1,770,554

3,200,000

Georgia Ports Authority, Revenue Bonds, Series 2022

.000

07/01/47

3,270,726

TOTAL TRANSPORTATION

17,804,717

U.S. GUARANTEED - 3.3% (a)

1,000,000

Atlanta, Georgia, Water and Wastewater Revenue Bonds,

Refunding Series 2017A, (Pre-refunded 11/01/27)

.000

11/01/37

1,057,681

1,635,000

Atlanta, Georgia, Water and Wastewater Revenue Bonds,

Refunding Series 2018A, (Pre-refunded 11/01/27)

.000

11/01/41

1,729,308

2,000,000

Sandy Springs Public Facilities Authority, Georgia, Revenue

Bonds, Sandy Springs City Center Project, Series 2015, (Pre-

refunded 5/01/26)

.000

05/01/47

2,035,345

TOTAL U.S. GUARANTEED

4,822,334

UTILITIES - 31.4%

1,000,000

Bainbridge, Georgia, Combined Utilities Revenue Bonds, Series

2021 - BAM Insured

.000

12/01/46

889,732

1,170,000

Bainbridge, Georgia, Combined Utilities Revenue Bonds, Series

2021 - BAM Insured

.000

12/01/51

997,438

2,000,000

Burke County Development Authority, Georgia, Pollution Control

Revenue Bonds, Georgia Power Company, Fifth Series 1994,

(Mandatory Put 6/13/28)

.700

10/01/32

2,029,625

1,250,000

Burke County Development Authority, Georgia, Pollution Control

Revenue Bonds, Oglethorpe Power Corporation Vogtle Project,

Series 2017C

.125

11/01/45

1,082,006

2,010,000

Burke County Development Authority, Georgia, Pollution Control

Revenue Bonds, Oglethorpe Power Corporation Vogtle Project,

Series 2017D

.125

11/01/45

1,739,866

2,000,000

Cartersville, Georgia, Water and Sewer Revenue Bonds, Series

2018

.000

06/01/48

2,002,127

1,000,000

Dalton, Georgia, Combined Utilities Revenue Bonds, Series 2020

.000

03/01/41

911,819

1,150,000

DeKalb County, Georgia, Water and Sewerage Revenue Bonds,

Refunding Series 2006B - AGM Insured

.250

10/01/32

1,173,120

5,050,000

DeKalb County, Georgia, Water and Sewerage Revenue Bonds,

Second Resolution Series 2022

.000

10/01/47

5,119,529

4,000,000

DeKalb County, Georgia, Water and Sewerage Revenue Bonds,

Second Resolution Series 2022

.000

10/01/52

4,028,810

3,000,000

Georgia Municipal Electric Authority, Plant Vogtle Units 3 & 4

Project P Bonds, Series 2019B

.000

01/01/48

2,934,598

2,630,000

Main Street Natural Gas Inc., Georgia, Gas Project Revenue

Bonds, Series 2007A

.500

09/15/27

2,751,394

2,750,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2019A

.000

05/15/43

2,747,245

#### Portfolio of Investments August 31, 2025
(continued)

#### Georgia

Part F of Form N-PORT was prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") and in conformity with the

applicable rules and regulations of the U.S. Securities and Exchange Commission ("SEC") related to interim filings. Part F of Form N-PORT does not

include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in

financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For

a full set of the Fund's notes to financial statements, please refer to the Fund's most recently filed annual or semi-annual report.

Fair Value Measurements

The Fund's investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board of Directors/

Trustees. Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an

independent buyer in the principal or most advantageous market for the investment. U.S. GAAP establishes the three-tier hierarchy which is used to

maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements

for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs

are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect management's assumptions about

the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the

circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.

Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.

Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit

spreads, etc.).

Level 3 – Prices are determined using significant unobservable inputs (including management's assumptions in determining the fair value of

investments).

The following table summarizes the market value of the Fund's investments as of the end of the reporting period, based on the inputs used to value

them:

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

UTILITIES

(continued)

$

1,000,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2024E

.000

%

12/01/32

$

1,071,225

2,000,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2025B, (Mandatory Put 12/01/35)

.000

12/01/55

2,115,960

3,500,000

Monroe, Georgia, Combined Utilities Revenue Bonds, Series

2020 - AGM Insured

.000

12/01/50

3,004,113

3,500,000

Municipal Electric Authority of Georgia, Project One Revenue

Bonds, Subordinate Lien Series 2015A

.000

01/01/32

2,751,160

2,000,000

Municipal Electric Authority of Georgia, Project One Revenue

Bonds, Subordinate Lien Series 2020A

.000

01/01/45

2,005,476

2,500,000

Municipal Electric Authority of Georgia, Project One Revenue

Bonds, Subordinate Lien Series 2020A

.000

01/01/50

2,471,038

1,255,000

Municipal Electric Authority of Georgia, Project One Revenue

Bonds, Subordinate Series 2024A - BAM Insured

.250

01/01/54

1,276,977

2,000,000

Upper Oconee Basin Water Authority, Georgia, Water Revenue

Bonds, Series 2024

.000

07/01/55

2,032,713

1,045,000

Walton County Water and Sewerage Authority, Georgia, Revenue

Bonds, Walton-Hard Labor Creek Reservoir Water Treatment

Facility Project, Series 2022

.000

02/01/53

1,056,603

TOTAL UTILITIES

46,192,574

TOTAL MUNICIPAL BONDS

(Cost $150,191,144)

145,347,343

TOTAL LONG-TERM INVESTMENTS

(Cost $150,191,144)

145,347,343

OTHER ASSETS & LIABILITIES, NET - 1.2%

1,709,506

NET ASSETS - 100%

$

147,056,849

AMT

Alternative Minimum Tax

(a) Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely

payment of principal and interest.

Georgia

Level 1

Level 2

Level 3

Total

Long-Term Investments:

Municipal Bonds

$

–

$

145,347,343

$

–

$

145,347,343

Total

$

–

$

145,347,343

$

–

$

145,347,343

#### Portfolio of Investments August 31, 2025

#### Louisiana
(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM INVESTMENTS - 100.0%

X

214,301,615

MUNICIPAL BONDS - 100.0%

X

–

CONSUMER STAPLES - 1.2%

$

1,000,000

Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco

Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien

Series 2020A-2 Class 1

.000

%

06/01/48

$

667,843

595,000

Guam Economic Development & Commerce Authority, Tobacco

Settlement Asset-Backed Bonds, Series 2007A

.250

06/01/32

576,724

315,000

New York Counties Tobacco Trust VI, New York, Tobacco

Settlement Pass-Through Bonds, Turbo Term Series 2016A.

Including 2016A-1, 2016A-2A and 2016A-2B

.000

06/01/45

268,127

165,000

Tobacco Settlement Financing Corporation, New Jersey, Tobacco

Settlement Asset-Backed Bonds, Series 2018B

.000

06/01/46

158,839

1,160,000

TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series 2006

.000

06/01/48

985,102

TOTAL CONSUMER STAPLES

2,656,635

EDUCATION AND CIVIC ORGANIZATIONS - 26.4%

1,025,000

(a) Jefferson Parish Economic Development and Port District,

Louisiana, Kenner Discovery Health Sciences Academy Project,

Series 2018A

.500

06/15/38

1,003,772

1,500,000

(a) Jefferson Parish Economic Development and Port District,

Louisiana, Kenner Discovery Health Sciences Academy Project,

Series 2018A

.625

06/15/48

1,390,241

815,000

Lafayette Public Trust Financing Authority, Louisiana, Revenue

Bonds, Ragin' Cajun Facilities Inc. Project, Refunding Series 2012

- AGM Insured

.000

10/01/27

816,437

500,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue Bonds,

Ragin' Cajun Facilities Inc.- Athletic Facilities Project, Refunding

Series 2021 - AGM Insured

.000

10/01/40

460,610

720,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue Bonds,

Ragin' Cajun Facilities Inc.- Athletic Facilities Project, Refunding

Series 2021 - AGM Insured

.000

10/01/42

640,446

3,000,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue Bonds,

Ragin' Cajun Facilities Inc.- Student Housing & Parking Project,

Series 2018 - AGM Insured

.000

10/01/48

2,957,403

1,030,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue Bonds,

Ragin' Cajun Facilities Inc.- Student Union/University Facilities

Project, Series 2021 - AGM Insured

.000

10/01/39

1,014,063

750,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue Bonds,

Ragin Cajun Facilities, Inc. Lewis Street Parking Garage Project,

Refunding Series 2021 - AGM Insured

.000

10/01/42

667,131

1,000,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Revenue Bonds, Louisiana

Tech University Student Housing & Recreational Facilities/

Innovative Student Facilities Inc. Project, Refunding Series 2015 -

AGM Insured

.000

10/01/34

1,001,048

1,000,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Revenue Bonds, Louisiana

Tech University Student Housing/Innovative Student Facilities Inc.

Project, Series 2016A

.000

10/01/46

885,414

500,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Revenue Bonds, McNeese

State University Student Parking - Cowboy Facilities, Inc. Project,

Refunding Series 2021

.000

03/01/33

464,451

1,200,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Revenue Bonds, McNeese

State University Student Parking - Cowboy Facilities, Inc. Project,

Refunding Series 2021

.000

03/01/37

1,004,736

#### Portfolio of Investments August 31, 2025
(continued)

#### Louisiana

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION AND CIVIC ORGANIZATIONS

(continued)

$

1,270,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Revenue Bonds, McNeese

State University Student Parking - Cowboy Facilities, Inc. Project,

Refunding Series 2021

.000

%

03/01/39

$

984,053

1,000,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Revenue Bonds, McNeese

State University Student Parking - Cowboy Facilities, Inc. Project,

Refunding Series 2021

.000

03/01/42

712,642

2,385,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Revenue Bonds, Nicholls

State University Student Recreation Center/NSU Facilities

Corporation Project, Refunding Series 2021

.000

10/01/38

2,076,960

2,000,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Revenue Bonds, Ragin'

Cajun Facilities Inc.- Student Housing & Parking Project, Series

2017 - AGM Insured

.000

10/01/39

2,007,912

1,500,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Revenue Bonds,

Southeastern Louisiana University student Housing/University

Facilities Project, Series 2017 - AGM Insured

.000

08/01/42

1,506,196

200,000

Louisiana Public Facilities Authority, Lease Revenue Bonds,

Provident Group-Flagship Properties LLC - Louisiana State

University GreenHouse District Phase II Project, Series 2017

.000

07/01/42

200,402

2,365,000

Louisiana Public Facilities Authority, Lease Revenue Bonds,

Provident Group-Flagship Properties LLC - Louisiana State

University GreenHouse District Phase III Project, Series 2019A -

BAM Insured

.000

07/01/54

1,996,396

4,510,000

Louisiana Public Facilities Authority, Lease Revenue Bonds,

Provident Group-Flagship Properties LLC - Louisiana State

University GreenHouse District Phase III Project, Series 2019A -

BAM Insured

.000

07/01/59

4,387,796

1,500,000

Louisiana Public Facilities Authority, Lease Revenue Bonds,

Provident Group-Flagship Properties LLC - Louisiana State

University Nicolson Gateway Project, Series 2016A

.000

07/01/46

1,438,841

6,000,000

Louisiana Public Facilities Authority, Lease Revenue Bonds,

Provident Group-Flagship Properties LLC - Louisiana State

University Nicolson Gateway Project, Series 2016A

.000

07/01/51

5,718,326

500,000

(a) Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Jefferson Rise Charter School Project, Series 2022A

.250

06/01/52

476,585

540,000

(a) Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Jefferson Rise Charter School Project, Series 2022A

.375

06/01/62

514,653

2,000,000

(a) Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Lake Charles Charter Academy Foundation Project, Refunding

Series 2024A

.000

12/15/43

1,826,688

1,300,000

(a) Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Lake Charles College Prep Project, Series 2019A

.000

06/01/39

1,226,520

270,000

(a) Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Lincoln Preparatory School Project, Series 2022A

.500

06/01/62

239,092

1,275,000

Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Loyola University of New Orleans Project, Refunding Series 2021

.000

10/01/40

1,127,614

20,000

Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Loyola University of New Orleans Project, Refunding Series 2021

.000

10/01/41

17,338

3,350,000

Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Loyola University of New Orleans Project, Refunding Series 2021

.000

10/01/51

2,594,088

250,000

Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Loyola University of New Orleans Project, Series 2023A

.000

10/01/27

258,463

250,000

Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Loyola University of New Orleans Project, Series 2023A

.000

10/01/28

262,003

2,000,000

Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Loyola University of New Orleans Project, Series 2023A

.250

10/01/48

1,911,060

220,000

Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Tulane University, Refunding Series 2017A

.000

12/15/30

230,717

2,000,000

Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Tulane University, Refunding Series 2020A

.000

04/01/40

1,905,175

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION AND CIVIC ORGANIZATIONS

(continued)

$

3,000,000

Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Tulane University, Refunding Series 2023A

.000

%

10/15/48

$

3,021,570

1,680,000

(a) Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Young Audiences Charter School, Series 2019A

.000

04/01/39

1,524,981

1,000,000

(a) Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Young Audiences Charter School, Series 2019A

.000

04/01/57

798,674

1,000,000

(b) Louisiana Public Facilities Authority, Revenue Bonds, Archdiocese

of New Orleans, Refunding Series 2017

.000

07/01/37

335,000

2,835,000

Louisiana Public Facilities Authority, Revenue Bonds, Loyola

University Project, Refunding Series 2017

.250

10/01/31

3,054,100

2,040,000

Louisiana Public Facilities Authority, Revenue Bonds, Loyola

University Project, Refunding Series 2017

.250

10/01/46

1,967,906

TOTAL EDUCATION AND CIVIC ORGANIZATIONS

56,627,503

ENERGY - 1.0%

2,035,000

Saint John the Baptist Parish, Louisiana, Revenue Bonds,

Marathon Oil Corporation Project, Refunding Series 2017C,

(Mandatory Put 7/03/28)

.300

06/01/37

2,053,561

TOTAL ENERGY

2,053,561

HEALTH CARE - 14.1%

715,000

Calcasieu Parish Memorial Hospital Service District, Louisiana,

Revenue Bonds, Lake Charles Memorial Hospital, Refunding

Series 2019

.000

12/01/34

718,560

390,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

CommonSpirit Health, Series 2019A-2

.000

08/01/39

397,132

420,000

Illinois Finance Authority, Revenue Bonds, Ascension Health

Alliance, Series 2016C

.000

02/15/36

427,604

2,000,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue Bonds,

Womans Hospital Foundation Project, Refunding Series 2017A

.000

10/01/41

1,790,078

3,000,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue Bonds,

Womans Hospital Foundation Project, Refunding Series 2017A

.000

10/01/41

2,977,692

3,000,000

Louisiana Public Facilities Authority, Hospital Revenue Bonds,

Franciscan Missionaries of Our Lady Health System, Series 2017A

.000

07/01/47

2,882,540

3,000,000

Louisiana Public Facilities Authority, Hospital Revenue Bonds,

Louisiana Children's Medical Center Hospital, Series 2015A-1.

Fixed Rate Mode

.000

06/01/45

2,978,294

300,000

Louisiana Public Facilities Authority, Hospital Revenue Bonds,

Louisiana Children's Medical Center Hospital, Series 2020A

.000

06/01/50

238,586

3,245,000

Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Christus Health, Refunding Series 2019A

.000

07/01/43

3,258,543

3,000,000

Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Ochsner Clinic Foundation Project, Refunding Series 2017

.000

05/15/42

2,971,285

2,200,000

Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Ochsner Clinic Foundation Project, Refunding Series 2025A

.250

05/15/55

2,226,526

1,750,000

Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Ochsner Clinic Foundation Project, Refunding Series 2025A

.500

05/15/55

1,808,330

200,000

Louisiana Public Facilities Authority, Revenue Bonds, Ochsner

Clinic Foundation Project, Series 2015

.000

05/15/47

195,614

310,000

Puerto Rico Industrial, Tourist, Educational, Medical and

Environmental Control Facilities Financing Authority, Hospital

Revenue Bonds, (Hospital Auxilio Mutuo Obligated Group

Project, Refunding Series 2021

.000

07/01/31

332,436

1,000,000

Puerto Rico Industrial, Tourist, Educational, Medical and

Environmental Control Facilities Financing Authority, Hospital

Revenue Bonds, (Hospital Auxilio Mutuo Obligated Group

Project, Refunding Series 2021

.000

07/01/32

1,058,904

1,715,000

Saint Tammany Parish Hospital Service District 1, Louisiana,

Hospital Revenue Bonds, St. Tammany Parish Hospital Project,

Refunding Series 2018A

.000

07/01/36

1,759,574

1,400,000

Saint Tammany Parish Hospital Service District 1, Louisiana,

Hospital Revenue Bonds, St. Tammany Parish Hospital Project,

Refunding Series 2018A

.000

07/01/37

1,430,103

#### Portfolio of Investments August 31, 2025
(continued)

#### Louisiana

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH CARE

(continued)

$

1,000,000

Saint Tammany Parish Hospital Service District 1, Louisiana,

Hospital Revenue Bonds, St. Tammany Parish Hospital Project,

Refunding Series 2018A

.000

%

07/01/43

$

863,060

1,000,000

Tangipahoa Parish Hospital Service District 1, Louisiana, Hospital

Revenue Bonds, North Oaks Health System Project, Refunding

Series 2021

.000

02/01/39

924,570

1,085,000

Terrebonne Parish Hospital Service District 1, Louisiana, Hospital

Revenue Bonds, Terrebonne General Medical Center, Refunding

Series 2013

.000

04/01/33

1,085,142

TOTAL HEALTH CARE

30,324,573

HOUSING/MULTIFAMILY - 1.2%

1,795,000

Louisiana Housing Finance Agency, Multifamily Housing Revenue

Bonds, Mallard Crossings Apartments, Series 2011

.750

10/01/29

1,796,504

1,000,000

(a) Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Provident Group - HSC Properties Inc - LSU Health Foundation,

New Orleans Project, Senior Lien Series 2020A-1

.500

01/01/50

767,669

TOTAL HOUSING/MULTIFAMILY

2,564,173

HOUSING/SINGLE FAMILY - 2.0%

1,220,000

Louisiana Housing Corporation, Single Family Mortgage Revenue

Bonds, Home Ownership Program, Series 2020B

.500

06/01/50

1,224,837

2,005,000

Louisiana Housing Corporation, Single Family Mortgage Revenue

Bonds, Home Ownership Program, Series 2021D

.250

06/01/52

2,003,074

1,075,000

Louisiana Housing Corporation, Single Family Mortgage Revenue

Bonds, Home Ownership Program, Series 2024A

.650

12/01/54

1,006,130

TOTAL HOUSING/SINGLE FAMILY

4,234,041

INDUSTRIALS - 4.7%

540,000

(a) Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue Bonds,

Cameron Parish GOMESA Project, Green Series 2018

.650

11/01/37

557,894

3,000,000

(a) Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue Bonds,

Jefferson Parish GOMESA Project, Series 2019

.000

11/01/44

2,530,356

900,000

(a) Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue Bonds,

New Orleans GOMESA Project, Series 2021

.000

11/01/46

750,848

80,000

(a) Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue Bonds,

Saint John the Baptist Parish GOMESA Project, Series 2019

.900

11/01/44

66,522

100,000

(a) Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue Bonds,

Saint Martin Parish GOMESA Project, Series 2019

.400

11/01/44

90,797

1,795,000

(a) Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue Bonds,

Saint Tammany Parish GOMESA Project, Series 2020

.875

11/01/45

1,480,526

100,000

(a) Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue Bonds,

Terrebonne Parish GOMESA Project, Series 2018

.375

11/01/38

101,809

400,000

(a) Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue Bonds,

Terrebonne Parish GOMESA Project, Series 2018

.500

11/01/39

407,323

1,460,000

(a) Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue Bonds,

Vermilion Parish GOMESA Project, Green Series 2019

.625

11/01/38

1,452,129

1,000,000

(a),(b)

Louisiana Public Facilities Authority, Solid Waste Disposal Facility

Revenue Bonds, Louisiana Pellets Inc Project, Series 2015, (AMT)

.000

07/01/26

2,000,000

(a) Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics,

L.P. Project, Series 2008, (Mandatory Put 6/01/30)

.100

06/01/38

2,134,212

205,000

(a) Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics,

L.P. Project, Series 2010B, (Mandatory Put 6/01/30)

.100

12/01/40

218,700

250,000

(a) Saint Paul Port Authority, Minnesota, Solid Waste Disposal

Revenue Bonds, Gerdau Saint Paul Steel Mill Project, Series 2012-

7, (AMT)

.500

10/01/37

233,664

TOTAL INDUSTRIALS

10,024,790

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM CARE - 1.2%

$

850,000

(a) Louisiana Local Government Environmental Facilities and

Community Development Authority, Revenue Bonds, Christwood

Project, Refunding Series 2024

.250

%

11/15/59

$

739,041

2,800,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Revenue Bonds, The Glen

Retirement System Project, Series 2019A

.000

01/01/49

1,926,213

TOTAL LONG-TERM CARE

2,665,254

MATERIALS - 0.5%

1,000,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Revenue Bonds, Westlake

Chemical Corporation Projects, Refunding Series 2017

.500

11/01/32

965,360

TOTAL MATERIALS

965,360

TAX OBLIGATION/GENERAL - 11.6%

1,055,000

Calcasieu Parish School District 23, Louisiana, General Obligation

Bonds, Public School Improvement Series 2019 - BAM Insured

.000

09/01/37

1,054,947

1,600,000

Calcasieu Parish School District 23, Louisiana, General Obligation

Bonds, Public School Improvement Series 2019 - BAM Insured

.000

09/01/38

1,568,446

265,000

Cameron Parish School District 15, Louisiana, General Obligation

Bonds, Series 2021

.000

10/01/37

257,410

350,000

Cameron Parish School District 15, Louisiana, General Obligation

Bonds, Series 2021

.000

10/01/39

327,038

425,000

Cameron Parish School District 15, Louisiana, General Obligation

Bonds, Series 2021

.000

10/01/40

391,996

1,125,000

Central Community School System, East Baton Rouge Parish,

Louisiana, General Obligation Bonds, Series 2020

.000

03/01/39

1,093,859

545,000

Livingston Parish School District 1, Louisiana, General Obligation

Bonds, Series 2021 - BAM Insured

.000

05/01/39

518,334

1,000,000

Livingston Parish School District 1, Louisiana, General Obligation

Bonds, Series 2021 - BAM Insured

.000

05/01/41

925,236

1,435,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Revenue Bonds, Bossier City

Projects, Series 2015

.000

06/01/30

1,438,658

980,000

Louisiana State, General Obligation Bonds, Series 2021A

.000

03/01/41

1,017,308

3,130,000

New Orleans, Louisiana, General Obligation Bonds, Audubon

Commission Projects, Series 2021

.000

10/01/37

3,069,251

1,720,000

New Orleans, Louisiana, General Obligation Bonds, Public

Improvement Series 2021A

.000

12/01/37

1,801,605

2,000,000

New Orleans, Louisiana, General Obligation Bonds, Public

Improvement Series 2021A - BAM Insured

.000

12/01/46

2,012,767

125,000

New Orleans, Louisiana, General Obligation Bonds, Refunding

Series 2015

.000

12/01/27

125,809

525,000

New Orleans, Louisiana, General Obligation Bonds, Refunding

Series 2015

.000

12/01/29

528,277

1,835,000

New Orleans, Louisiana, General Obligation Bonds, Refunding

Series 2022

.250

12/01/38

1,964,228

1,305,000

Saint Tammany Parish Hospital Service District 2, Louisiana,

General Obligation Bonds, Series 2021 - BAM Insured

.000

03/01/38

1,289,863

1,430,000

Saint Tammany Parish Hospital Service District 2, Louisiana,

General Obligation Bonds, Series 2021 - BAM Insured

.000

03/01/40

1,361,136

1,800,000

(c) Saint Tammany Parish Hospital Service District 2, Louisiana,

General Obligation Bonds, Series 2025 - BAM Insured

.000

03/01/41

1,861,213

2,155,000

(c) Saint Tammany Parish Hospital Service District 2, Louisiana,

General Obligation Bonds, Series 2025 - BAM Insured

.000

03/01/42

2,207,281

TOTAL TAX OBLIGATION/GENERAL

24,814,662

TAX OBLIGATION/LIMITED - 11.4%

170,000

Government of Guam, Business Privilege Tax Bonds, Refunding

Series 2015D

.000

11/15/39

154,607

3,000,000

Jefferson Sales Tax District, Jefferson Parish, Louisiana, Special

Sales Tax Revenue Bonds, Series 2017B - AGM Insured

.000

12/01/42

3,014,802

2,000,000

Jefferson Sales Tax District, Jefferson Parish, Louisiana, Special

Sales Tax Revenue Bonds, Series 2019B - AGM Insured

.000

12/01/38

1,966,518

3,000,000

Jefferson Sales Tax District, Jefferson Parish, Louisiana, Special

Sales Tax Revenue Bonds, Series 2019B - AGM Insured

.000

12/01/39

2,908,191

#### Portfolio of Investments August 31, 2025
(continued)

#### Louisiana

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/LIMITED

(continued)

$

1,000,000

(a) Juban Trails Community Development District, Livingston Parish,

Louisiana, Special Assessment Revenue Bonds, Series 2022

.250

%

06/01/51

$

790,548

1,000,000

Lakeshore Villages Master Community Development District, St.

Tammany Parish, Louisiana, Special Assessment Revenue Bonds,

Series 2022

.500

06/01/52

961,351

505,000

Louisiana Citizens Property Insurance Corporation, Assessment

Revenue Bonds, Refunding Series 2016A

.000

06/01/26

514,280

2,325,000

Louisiana Stadium and Exposition District, Revenue Bonds,

Senior Series 2023A

.000

07/01/48

2,318,335

1,735,000

Louisiana Stadium and Exposition District, Revenue Bonds,

Senior Series 2023A

.250

07/01/53

1,755,202

725,000

Louisiana State Correctional Facilities Corporation, Lease

Revenue Bonds, Correctional Institution for Women Series 2023

.000

10/01/41

669,304

1,000,000

Louisiana State Correctional Facilities Corporation, Lease

Revenue Bonds, Correctional Institution for Women Series 2023

.000

10/01/43

896,419

1,435,000

Louisiana State Correctional Facilities Corporation, Lease

Revenue Bonds, Office of Juvenile Justice Project, Series 2021

.000

10/01/38

1,366,184

1,305,000

Louisiana State Correctional Facilities Corporation, Lease

Revenue Bonds, Office of Juvenile Justice Project, Series 2021

.000

10/01/40

1,196,072

3,505,000

Louisiana State, Gasoline and Fuels Tax Revenue Bonds,

Refunding Second Lien Series 2024A

.000

05/01/44

3,128,384

160,000

Matching Fund Special Purpose Securitization Corporation,

Virgin Islands, Revenue Bonds, Series 2022A

.000

10/01/39

159,419

365,000

(a) Public Finance Authority of Wisconsin, Limited Obligation PILOT

Revenue Bonds, American Dream @ Meadowlands Project, Series

2017

.000

12/01/27

292,000

344,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured 2018A-1

.000

07/01/46

108,724

750,000

Saint Charles Parish School Board, Louisiana, Sales & Use Tax

Bonds, Series 2019

.000

08/01/37

750,298

680,000

Saint Charles Parish School Board, Louisiana, Sales & Use Tax

Bonds, Series 2019

.000

08/01/39

662,497

1,000,000

The Industrial Development Authority of the City of Saint Louis,

Missouri, Development Financing Revenue Bonds, Ballpark

Village Development Project, Series 2017A

.750

11/15/47

841,173

TOTAL TAX OBLIGATION/LIMITED

24,454,308

TRANSPORTATION - 12.4%

785,000

Colorado High Performance Transportation Enterprise, C-470

Express Lanes Revenue Bonds, Senior Lien Series 2017

.000

12/31/51

736,229

1,085,000

(c) Greater New Orleans Expressway Commission, Louisiana, Toll

Revenue Bonds, Subordinate Lien Refunding Series 2025

.000

11/01/46

1,090,441

1,000,000

Greater New Orleans Expressway Commission, Louisiana, Toll

Revenue Bonds, Subordinate Lien Series 2017 - AGM Insured

.000

11/01/47

1,003,989

100,000

Guam A.B. Won Pat International Airport Authority, Revenue

Bonds, Series 2024A, (AMT)

.000

10/01/34

104,954

100,000

Guam A.B. Won Pat International Airport Authority, Revenue

Bonds, Series 2024A, (AMT)

.250

10/01/35

106,017

175,000

Guam A.B. Won Pat International Airport Authority, Revenue

Bonds, Series 2024A, (AMT)

.250

10/01/37

183,012

100,000

Guam A.B. Won Pat International Airport Authority, Revenue

Bonds, Series 2024A, (AMT)

.250

10/01/38

103,880

100,000

Guam A.B. Won Pat International Airport Authority, Revenue

Bonds, Series 2024A, (AMT)

.250

10/01/39

103,307

100,000

Guam A.B. Won Pat International Airport Authority, Revenue

Bonds, Series 2024A, (AMT)

.250

10/01/40

102,816

5,465,000

Louisiana Publics Facilities Authority, Louisiana, Revenue Bonds,

I-10 Calcasieu River Bridge Public-Private Partnership Project,

Senior Lien Series 2024, (AMT)

.000

09/01/66

4,908,309

200,000

New Orleans Aviation Board, Louisiana, General Airport Revenue

Bonds, Gilf Opportunity Zone Project, Refunding Series 2019

.000

01/01/37

198,142

1,000,000

New Orleans Aviation Board, Louisiana, General Airport Revenue

Bonds, Gilf Opportunity Zone Project, Refunding Series 2019

.000

01/01/38

977,095

1,015,000

New Orleans Aviation Board, Louisiana, General Airport Revenue

Bonds, Gilf Opportunity Zone Project, Refunding Series 2019

.000

01/01/39

976,562

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TRANSPORTATION

(continued)

$

1,880,000

New Orleans Aviation Board, Louisiana, General Airport Revenue

Bonds, North Terminal Project, Series 2017B, (AMT)

.000

%

01/01/48

$

1,829,301

1,000,000

New Orleans Aviation Board, Louisiana, General Airport Revenue

Bonds, Series 2024C-2, (AMT)

.250

01/01/49

1,006,629

1,250,000

New Orleans Aviation Board, Louisiana, General Airport Revenue

Bonds, Series 2024C-2, (AMT)

.250

01/01/51

1,254,385

1,800,000

New Orleans Aviation Board, Louisiana, Special Facility Revenue

Bonds, Parking Facilities Corporation Consolidated Garage

System, Series 2018A - AGM Insured

.000

10/01/43

1,806,873

840,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

Redevelopment Project, Series 2016A, (AMT)

.000

07/01/46

795,635

1,115,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, John F Kennedy International

Airport Terminal One Project, Green Series 2025, (AMT)

.000

06/30/59

1,141,734

500,000

(a) Plaquemines Port, Louisiana, Harbor and Terminal District

Facilities Revenue Bonds NOLA Terminal LLC Project Dock and

Wharf Series 2024A

.000

12/01/44

417,892

2,000,000

Port New Orleans Board of Commissioners, Louisiana, Revenue

Bonds, Port Facilities Bonds, Series 2020 D

.000

04/01/50

1,975,476

3,000,000

Port New Orleans Board of Commissioners, Louisiana, Revenue

Bonds, Port Facilities, AMT Series 2025B, (AMT)

.500

04/01/54

3,074,048

2,750,000

Port New Orleans Board of Commissioners, Louisiana, Revenue

Bonds, Port Facilities, Refunding Series 2018B - AGM Insured,

(AMT)

.000

04/01/45

2,692,913

TOTAL TRANSPORTATION

26,589,639

U.S. GUARANTEED - 0.2% (d)

85,000

Illinois Finance Authority, Revenue Bonds, Ascension Health

Alliance, Series 2016C, (Pre-refunded 2/15/27)

.000

02/15/36

88,100

355,000

Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Tulane University, Refunding Series 2020A, (Pre-refunded

4/01/30)

.000

04/01/50

374,005

TOTAL U.S. GUARANTEED

462,105

UTILITIES - 12.1%

1,665,000

East Baton Rouge Sewerage Commission, Louisiana, Revenue

Bonds, Refunding Series 2019A

.000

02/01/45

1,494,114

505,000

Guam Government Waterworks Authority, Water and Wastewater

System Revenue Bonds, Refunding Series 2024A

.000

07/01/35

541,758

1,000,000

Guam Government Waterworks Authority, Water and Wastewater

System Revenue Bonds, Series 2020A

.000

01/01/50

954,206

1,150,000

Guam Government Waterworks Authority, Water and Wastewater

System Revenue Bonds, Series 2025A

.500

07/01/55

1,171,923

535,000

Guam Power Authority, Revenue Bonds, Refunding Series 2024A

.000

10/01/39

559,372

1,750,000

Lafourche Parish Water District 1, Louisiana, Water Revenue

Bonds, Series 2025

.375

01/01/50

1,600,839

1,525,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue Bonds,

East Baton Rouge Sewerage Commission Projects, Refunding

Subordinate Lien Series 2024 - BAM Insured

.000

02/01/41

1,593,736

1,000,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue Bonds,

Entergy Louisiana, LLC Project, Refunding Series 2021B

.500

04/01/36

816,538

7,315,000

Louisiana Public Facilities Authority, Revenue Bonds, Cleco Power

LLC Project, Series 2008

.250

12/01/38

6,985,501

1,085,000

New Orleans, Louisiana, Sewerage Service Revenue Bonds,

Series 2020B

.000

06/01/45

1,088,768

1,000,000

New Orleans, Louisiana, Sewerage Service Revenue Bonds,

Series 2020B

.000

06/01/50

822,756

1,000,000

Ohio Water Development Authority, Pollution Control Revenue

Refunding Bonds, FirstEnergy Nuclear Generating Corporation

Project, Series 2009A

.750

06/01/33

1,028,382

1,505,000

Pineville, Louisiana, Utility Revenue Bonds, Series 2022 - BAM

Insured

.000

05/01/42

1,389,565

#### Portfolio of Investments August 31, 2025
(continued)

#### Louisiana

Part F of Form N-PORT was prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") and in conformity with the

applicable rules and regulations of the U.S. Securities and Exchange Commission ("SEC") related to interim filings. Part F of Form N-PORT does not

include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in

financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For

a full set of the Fund's notes to financial statements, please refer to the Fund's most recently filed annual or semi-annual report.

Fair Value Measurements

The Fund's investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board of Directors/

Trustees. Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an

independent buyer in the principal or most advantageous market for the investment. U.S. GAAP establishes the three-tier hierarchy which is used to

maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements

for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs

are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect management's assumptions about

the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the

circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.

Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.

Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit

spreads, etc.).

Level 3 – Prices are determined using significant unobservable inputs (including management's assumptions in determining the fair value of

investments).

The following table summarizes the market value of the Fund's investments as of the end of the reporting period, based on the inputs used to value

them:

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

UTILITIES

(continued)

$

1,000,000

Pineville, Louisiana, Utility Revenue Bonds, Series 2022 - BAM

Insured

.000

%

05/01/47

$

886,314

365,000

Shreveport, Louisiana, Water and Sewer Revenue Bonds, Junior

Lien Series 2019B - AGM Insured

.000

12/01/49

305,720

1,500,000

Shreveport, Louisiana, Water and Sewer Revenue Bonds,

Refunding Series 2020B

.000

12/01/50

985,694

2,000,000

Shreveport, Louisiana, Water and Sewer Revenue Bonds, Series

2016B - BAM Insured

.000

12/01/41

2,018,037

1,000,000

Tangipahoa Water District, Tangipahoa, Louisiana, Water

Revenue Bonds, Refunding Series 2024

.000

12/01/44

854,281

295,000

Tangipahoa Water District, Tangipahoa, Louisiana, Water

Revenue Bonds, Series 2021 - BAM Insured

.000

12/01/38

289,397

500,000

Virgin Islands Water and Power Authority, Electric System

Revenue Bonds, Series 2007B

.000

07/01/31

478,110

TOTAL UTILITIES

25,865,011

TOTAL MUNICIPAL BONDS

(Cost $230,975,820)

214,301,615

TOTAL LONG-TERM INVESTMENTS

(Cost $230,975,820)

214,301,615

OTHER ASSETS & LIABILITIES, NET - 0.0%

15,085

NET ASSETS - 100%

$

214,316,700

AMT

Alternative Minimum Tax

(a) Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities are deemed liquid

and may be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.

As of the end of the reporting period, the aggregate value of these securities is $22,033,146 or 10.3% of Total Investments.

(b) Defaulted security. A security whose issuer has failed to fully pay principal and/or interest when due, or is under the protection of

bankruptcy.

(c) When-issued or delayed delivery security.

(d) Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely

payment of principal and interest.

Louisiana

Level 1

Level 2

Level 3

Total

Long-Term Investments:

Municipal Bonds

$

–

$

214,301,615

$

–

$

214,301,615

Total

$

–

$

214,301,615

$

–

$

214,301,615

#### Portfolio of Investments August 31, 2025

#### North Carolina
(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM INVESTMENTS - 99.3%

X

460,788,790

MUNICIPAL BONDS - 99.3%

X

–

EDUCATION AND CIVIC ORGANIZATIONS - 16.4%

$

1,995,000

Appalachian State University, North Carolina, General Revenue

Bonds, Millennial Campus End Zone Project, Series 2018

.000

%

05/01/44

$

2,019,455

3,415,000

Appalachian State University, North Carolina, General Revenue

Bonds, Series 2019

.000

10/01/48

2,944,235

225,000

Appalachian State University, North Carolina, Revenue Bonds,

Millennial Campus Indoor Facilities Project Series 2024

.000

11/01/34

250,993

425,000

Elizabeth City State University, North Carolina, General Revenue

Bonds, Refunding Series 2019 - AGM Insured

.000

04/01/28

447,392

465,000

Elizabeth City State University, North Carolina, General Revenue

Bonds, Refunding Series 2019 - AGM Insured

.000

04/01/29

496,870

745,000

Elizabeth City State University, North Carolina, General Revenue

Bonds, Refunding Series 2019 - AGM Insured

.000

04/01/30

794,439

1,500,000

Elizabeth City State University, North Carolina, General Revenue

Bonds, Refunding Series 2019 - AGM Insured

.000

04/01/40

1,514,732

4,500,000

North Carolina Agricultural & Technical State University, General

Revenue Bonds, Refunding Series 2015A

.000

10/01/40

4,505,751

1,000,000

North Carolina Capital Facilities Finance Agency, Educational

Facilities Revenue Bonds, Campbell University, Refunding Series

2021A

.000

10/01/33

1,042,781

800,000

North Carolina Capital Facilities Financing Agency, Educational

Facilities Revenue Bond, Meredith College, Refunding Series

2016

.000

06/01/33

746,320

685,000

North Carolina Capital Facilities Financing Agency, Educational

Facilities Revenue Bond, Meredith College, Refunding Series

2016

.000

06/01/34

626,663

5,000,000

North Carolina Capital Facilities Financing Agency, Educational

Facilities Revenue Bond, Meredith College, Refunding Series

2018

.000

06/01/38

4,653,629

5,000,000

North Carolina Capital Facilities Financing Agency, Educational

Facility Revenue Bonds, Wake Forest University, Refunding Series

2016

.000

01/01/35

5,012,772

1,035,000

North Carolina Central University, General Revenue Bonds,

Series 2019

.000

04/01/38

1,059,039

3,600,000

North Carolina State Education Assistance Authority, Student

Loan Revenue Bonds, Refunding Senior Series 2025A, (AMT)

.000

06/01/33

3,769,972

1,000,000

North Carolina State Education Assistance Authority, Student

Loan Revenue Bonds, Senior Series 2020A, (AMT)

.000

06/01/28

1,042,969

1,700,000

North Carolina State University at Raleigh, General Revenue

Bonds, Refunding Series 2018

.000

10/01/40

1,666,078

1,790,000

North Carolina State University at Raleigh, General Revenue

Bonds, Refunding Series 2018

.000

10/01/41

1,731,080

3,660,000

North Carolina State University at Raleigh, General Revenue

Bonds, Series 2024B

.000

10/01/45

3,335,175

1,250,000

North Carolina State University at Raleigh, General Revenue

Bonds, Series 2024B

.000

10/01/46

1,131,424

5,000,000

University of North Carolina, Asheville, General Revenue Bonds,

Refunding Series 2017

.000

06/01/42

5,061,265

230,000

University of North Carolina, Charlotte, General Revenue Bonds,

Refunding Series 2017A

.000

10/01/31

240,180

4,415,000

University of North Carolina, Charlotte, General Revenue Bonds,

Refunding Series 2017A

.000

10/01/40

4,207,596

2,165,000

University of North Carolina, Charlotte, General Revenue Bonds,

Series 2017

.000

10/01/42

2,191,006

6,600,000

University of North Carolina, Charlotte, General Revenue Bonds,

Series 2017

.000

10/01/47

6,647,726

1,000,000

University of North Carolina, Charlotte, General Revenue Bonds,

Series 2020A

.000

10/01/37

992,837

1,000,000

University of North Carolina, Greensboro, General Revenue

Bonds, Refunding Series 2017

.000

04/01/30

1,058,958

6,000,000

University of North Carolina, Greensboro, General Revenue

Bonds, Series 2018

.000

04/01/43

6,076,819

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION AND CIVIC ORGANIZATIONS

(continued)

$

4,500,000

Western Carolina University, North Carolina, General Revenue

Bonds, Series 2018

.000

%

10/01/43

$

4,500,501

6,000,000

Western Carolina University, North Carolina, General Revenue

Bonds, Series 2020B

.000

04/01/45

5,456,318

1,050,000

Western Carolina University, North Carolina, General Revenue

Bonds, Series 2025

.250

04/01/43

1,018,314

TOTAL EDUCATION AND CIVIC ORGANIZATIONS

76,243,289

HEALTH CARE - 12.0%

3,000,000

Charlotte-Mecklenburg Hospital Authority, North Carolina,

Health Care Revenue Bonds, DBA Carolinas HealthCare System,

Refunding Series 2016A

.000

01/15/36

3,015,021

1,685,000

Charlotte-Mecklenburg Hospital Authority, North Carolina,

Health Care Revenue Bonds, DBA Carolinas HealthCare System,

Refunding Series 2016A

.000

01/15/40

1,689,254

3,750,000

Charlotte-Mecklenburg Hospital Authority, North Carolina,

Health Care Revenue Bonds, Doing Business as Atrium Health,

Refunding Series 2018A

.000

01/15/39

3,666,794

500,000

Charlotte-Mecklenburg Hospital Authority, North Carolina,

Health Care Revenue Bonds, Doing Business as Atrium Health,

Refunding Series 2018D, (Mandatory Put 6/15/27)

.625

01/15/48

506,070

1,470,000

Nash Health Care Systems, North Carolina, Health Care Facilities

Revenue Bonds, Series 2025

.000

02/01/32

1,607,914

1,500,000

Nash Health Care Systems, North Carolina, Health Care Facilities

Revenue Bonds, Series 2025

.750

02/01/50

1,563,785

28,995,000

North Carolina Medical Care Commission, Health Care Facilities

Revenue Bonds, Novant Health Obligated Group, Series 2019A

.000

11/01/49

24,506,061

5,860,000

North Carolina Medical Care Commission, Health Care Facilities

Revenue Bonds, Vidant Health, Refunding Series 2015

.000

06/01/40

5,860,628

3,000,000

North Carolina Medical Care Commission, Health Care Facilities

Revenue Bonds, Vidant Health, Refunding Series 2015

.000

06/01/45

2,974,595

1,000,000

North Carolina Medical Care Commission, Health Care Facilities

Revenues Bonds, Wake Forest Baptist Obligated Group, Series

2019A

.000

12/01/31

1,057,906

1,000,000

North Carolina Medical Care Commission, Health Care Facilities

Revenues Bonds, Wake Forest Baptist Obligated Group, Series

2019A

.000

12/01/33

1,048,043

8,010,000

University of North Carolina, Chapel Hill, North Carolina, Hospital

Revenue Bonds, System Series 2019

.000

02/01/45

8,397,615

TOTAL HEALTH CARE

55,893,686

HOUSING/MULTIFAMILY - 0.8%

4,125,000

Raleigh Housing Authority, North Carolina, Multifamily Housing

Revenue Bonds, Parkside Apartments Project Series 2024A

.400

12/01/43

3,860,385

TOTAL HOUSING/MULTIFAMILY

3,860,385

HOUSING/SINGLE FAMILY - 1.8%

2,000,000

North Carolina Housing Finance Agency, Home Ownership

Revenue Bonds, Series 57-A

.250

01/01/56

2,244,677

4,905,000

North Carolina Housing Finance Agency, Home Ownership

Revenue Bonds, Social Series 52-A

.900

07/01/43

4,902,493

985,000

North Carolina Housing Finance Agency, Home Ownership

Revenue Bonds, Social Series 52-A

.000

07/01/46

979,249

TOTAL HOUSING/SINGLE FAMILY

8,126,419

LONG-TERM CARE - 2.1%

105,000

North Carolina Medical Care Commission, Health Care Facilities

Revenue Bonds, Deerfield Episcopal Retirement Community,

Refunding First Mortgage Series 2016

.000

11/01/37

105,381

285,000

North Carolina Medical Care Commission, Health Care Facilities

Revenue Bonds, Lutheran Services for the Aging, Series 2021A

.000

03/01/30

287,600

295,000

North Carolina Medical Care Commission, Health Care Facilities

Revenue Bonds, Lutheran Services for the Aging, Series 2021A

.000

03/01/31

296,212

550,000

North Carolina Medical Care Commission, Health Care Facilities

Revenue Bonds, Lutheran Services for the Aging, Series 2021A

.000

03/01/41

481,590

2,970,000

North Carolina Medical Care Commission, Retirement Facilities

First Mortgage Revenue Bonds, EveryAge, Series 2021A

.000

09/01/47

2,367,445

#### Portfolio of Investments August 31, 2025
(continued)

#### North Carolina

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM CARE

(continued)

$

1,105,000

North Carolina Medical Care Commission, Retirement Facilities

First Mortgage Revenue Bonds, Sharon Towers, Series 2019A

.000

%

07/01/44

$

1,020,147

1,250,000

North Carolina Medical Care Commission, Retirement Facilities

First Mortgage Revenue Bonds, Twin Lakes Community, Series

2025A

.250

01/01/55

1,186,719

550,000

North Carolina Medical Care Commission, Retirement Facilities

First Mortgage Revenue Bonds, United Methodist Retirement

Homes, Refunding Series 2016A

.000

10/01/30

559,019

225,000

North Carolina Medical Care Commission, Retirement Facilities

First Mortgage Revenue Bonds, United Methodist Retirement

Homes, Refunding Series 2016A

.000

10/01/31

228,364

1,260,000

North Carolina Medical Care Commission, Retirement Facility

First Mortgage Revenue Bonds, Everyage, Series 2024B

.000

09/01/44

1,193,172

900,000

North Carolina Medical Care Commission, Retirement Facility

Revenue Bonds, Penick Village Project First Mortgage Series

2024A

.000

09/01/34

927,728

1,225,000

North Carolina Medical Care Commission, Revenue Bonds, First

Mortgage Galloway Ridge Project, Refunding Series 2019A

.000

01/01/39

1,119,787

TOTAL LONG-TERM CARE

9,773,164

TAX OBLIGATION/GENERAL - 10.2%

500,000

Asheville, North Carolina, General Obligation Bonds, Refunding

Series 2023

.000

06/01/39

495,470

1,750,000

Charlotte, North Carolina, General Obligation Bonds, Refunding

Series 2016A

.000

07/01/36

1,751,640

1,000,000

Charlotte, North Carolina, General Obligation Bonds, Refunding

Series 2024

.000

07/01/32

1,141,815

2,020,000

County of Durham, North Carolina, General Obligation Bonds,

Refunding Series 2023

.000

06/01/40

1,982,728

1,000,000

County of Durham, North Carolina, General Obligation Bonds,

Refunding Series 2023

.000

06/01/41

980,022

1,870,000

County of Durham, North Carolina, General Obligation Bonds,

Refunding Series 2023

.000

06/01/42

1,790,500

1,510,000

Garner, North Carolina, General Obligation Bonds, Public

Improvement Series 2025B

.000

02/01/41

1,461,949

1,510,000

Garner, North Carolina, General Obligation Bonds, Public

Improvement Series 2025B

.000

02/01/42

1,445,007

3,000,000

Guilford County, North Carolina, General Obligation Bonds,

School Series 2024

.000

03/01/41

2,947,619

1,000,000

Guilford County, North Carolina, General Obligation Bonds,

School Series 2025

.000

03/01/43

955,311

1,450,000

Huntersville, North Carolina, General Obligation Bonds, Public

Improvement Series 2024

.000

12/01/37

1,615,018

1,270,000

Huntersville, North Carolina, General Obligation Bonds, Public

Improvement Series 2024

.000

12/01/39

1,265,305

1,450,000

Huntersville, North Carolina, General Obligation Bonds, Public

Improvement Series 2024

.000

12/01/40

1,438,760

1,500,000

Iredell County, North Carolina, General Obligation Bonds, School

Series 2025

.000

04/01/42

1,452,203

3,000,000

National Finance Authority, New Hampshire, Revenue Bonds,

Winston-Salem Sustainable Energy Partners Series 2025A

.000

12/01/35

3,216,668

2,000,000

Pender County, North Carolina, General Obligation Bonds,

School Series 2024

.000

03/01/43

1,855,032

1,000,000

Pender County, North Carolina, Limited General Obligation

Bonds, Series 2024A

.000

04/01/36

1,117,311

1,000,000

Pender County, North Carolina, Limited General Obligation

Bonds, Series 2024A

.000

04/01/38

1,093,683

1,000,000

Pender County, North Carolina, Limited General Obligation

Bonds, Series 2024A

.000

04/01/40

1,066,883

1,000,000

Pender County, North Carolina, Limited General Obligation

Bonds, Series 2024A

.000

04/01/41

1,053,133

1,260,000

Sampson County Water & Sewer District II, North Carolina,

General Obligation Bonds, Refunding Series 2015

.000

06/01/40

1,260,181

4,060,000

Union County, North Carolina, General Obligation Bonds, School

Series 2023

.000

09/01/42

4,253,435

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/GENERAL

(continued)

$

810,000

Wake County, North Carolina, General Obligation Bonds, Parks,

Greenways, Recreation and Open Space, Series 2022C

.000

%

02/01/29

$

883,153

5,000,000

Wake County, North Carolina, General Obligation Bonds, Public

Improvement Series 2023A

.000

05/01/39

5,406,994

500,000

Wake County, North Carolina, Limited Obligation Bonds,

Refunding Series 2016A

.000

12/01/35

508,922

2,570,000

Wake County, North Carolina, Limited Obligation Bonds, Series

2025B

.000

05/01/38

2,832,803

2,000,000

Wake County, North Carolina, Limited Obligation Bonds, Wake

County Public Schools Series 2024

.000

05/01/36

2,239,315

TOTAL TAX OBLIGATION/GENERAL

47,510,860

TAX OBLIGATION/LIMITED - 19.8%

875,000

Ashe County, North Carolina, Limited Obligation Bonds, Series

2025

.125

06/01/43

819,051

400,000

Burke County, North Carolina, Limited Obligation Bonds, Series

2018

.000

04/01/29

414,779

100,000

Burke County, North Carolina, Limited Obligation Bonds, Series

2018

.000

04/01/31

103,288

4,675,000

Cabarrus County, North Carolina, Limited Obligation Installment

Financing Contract Bonds, Refunding Series 2022A

.000

06/01/40

4,929,471

3,750,000

Cabarrus County, North Carolina, Limited Obligation Installment

Financing Contract Bonds, Refunding Series 2024A

.000

08/01/41

3,961,328

6,850,000

Cabarrus County, North Carolina, Limited Obligation Installment

Financing Contract Bonds, Refunding Series 2024A

.000

08/01/42

7,170,740

1,500,000

Cabarrus County, North Carolina, Limited Obligation Installment

Financing Contract Bonds, Refunding Series 2024A

.000

08/01/43

1,560,332

500,000

Cabarrus County, North Carolina, Limited Obligation Installment

Financing Contract Bonds, Refunding Series 2024A

.000

08/01/44

517,376

310,000

Charlotte, North Carolina, Certificates of Participation,

Convention Facilities Project, Series 2019A

.000

06/01/33

331,390

1,000,000

Charlotte, North Carolina, Certificates of Participation,

Convention Facilities Project, Series 2019A

.000

06/01/44

1,015,569

1,465,000

Charlotte, North Carolina, Certificates of Participation, Nascar

Hall of Fame Public Facilities, Refunding Series 2019C

.000

06/01/37

1,464,411

1,930,000

Charlotte, North Carolina, Certificates of Participation, Refunding

Cultural Arts Facilities Series 2019B

.000

06/01/37

2,022,181

1,000,000

Charlotte, North Carolina, Storm Water Fee Revenue Bonds,

Refunding Series 2024

.000

12/01/49

897,949

3,000,000

Charlotte, North Carolina, Storm Water Fee Revenue Bonds,

Refunding Series 2024

.000

12/01/54

2,642,078

250,000

Dare County, North Carolina, Limited Obligation Bonds, Series

2025A

.000

06/01/34

286,457

1,000,000

Davidson County, North Carolina, General Obligation Bonds,

Limited Obligation Series 2016

.000

06/01/28

1,017,922

1,795,000

Davidson County, North Carolina, General Obligation Bonds,

Limited Obligation Series 2016

.000

06/01/30

1,824,341

1,475,000

Duplin County, North Carolina, Limited Obligation Bonds,

County Water Districts, Series 2016

.000

04/01/32

1,489,984

1,000,000

Duplin County, North Carolina, Limited Obligation Bonds,

County Water Districts, Series 2016

.000

04/01/34

1,008,505

1,265,000

Durham Capital Financing Corporation, Durham County, North

Carolina, Limited Obligation Bonds, Refunding Series 2016

.000

12/01/30

1,302,037

900,000

Greensboro, North Carolina Limited Obligation Bonds, Series

2024

.000

10/01/44

824,212

930,000

Harnett County, North Carolina, Limited Obligation Bonds, Series

2025

.000

04/01/33

1,045,742

600,000

Lee County, North Carolina, Limited Obligation Bonds, Series

2018

.000

05/01/36

597,207

2,000,000

Mecklenburg County, North Carolina, Limited Obligation Bonds,

Series 2025

.000

02/01/43

1,855,422

350,000

(a) Mooresville, North Carolina, Special Assessment Revenue Bonds,

Series 2015

.375

03/01/40

342,004

660,000

Nags Head, North Carolina, Limited Obligation Bonds, Series

2023

.000

06/01/37

724,111

#### Portfolio of Investments August 31, 2025
(continued)

#### North Carolina

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/LIMITED

(continued)

$

920,000

Nags Head, North Carolina, Limited Obligation Bonds, Series

2023

.000

%

06/01/39

$

988,560

930,000

Nags Head, North Carolina, Limited Obligation Bonds, Series

2023

.000

06/01/41

975,328

935,000

Nags Head, North Carolina, Limited Obligation Bonds, Series

2023

.000

06/01/42

972,682

1,000,000

New Hanover County, North Carolina, Limited Obligation Bonds,

Series 2024

.000

10/01/40

1,070,115

1,560,000

New Hanover County, North Carolina, Limited Obligation Bonds,

Series 2024

.000

10/01/41

1,646,858

680,000

New Hanover County, North Carolina, Limited Obligation Bonds,

Series 2024

.000

10/01/42

711,289

260,000

North Carolina State, Limited Obligation Bonds, Refunding

Series 2017B

.000

05/01/28

271,400

3,275,000

North Carolina State, Limited Obligation Bonds, Refunding

Series 2017B

.000

05/01/29

3,414,459

900,000

North Carolina State, Limited Obligation Bonds, Series 2020B

.000

05/01/32

890,472

2,165,000

North Carolina State, Limited Obligation Bonds, Series 2020B

.000

05/01/32

2,371,108

1,785,000

North Carolina State, Limited Obligation Bonds, Series 2022A

.000

05/01/32

2,021,328

2,950,000

Orange County, North Carolina, Limited Obligation Bonds, Series

2025

.000

10/01/33

3,369,396

1,975,000

Orange County, North Carolina, Limited Obligation Bonds, Series

2025

.000

10/01/34

2,263,052

3,554,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured 2018A-1

.000

07/01/33

2,602,853

5,296,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured 2018A-1

.500

07/01/34

5,295,764

2,200,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured Cofina Project Series 2019A-2A

.550

07/01/40

2,099,622

7,405,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Taxable Restructured Cofina Project Series 2019A-2

.329

07/01/40

6,867,710

1,000,000

Rocky Mount, North Carolina, Special Obligation Bonds, Series

2016

.000

05/01/29

1,016,639

1,360,000

Rowan County, North Carolina, Limited Obligation Bonds, Series

2024

.000

04/01/44

1,242,621

2,445,000

Sampson County, North Carolina, Limited Obligation Bonds,

Refunding Series 2015

.000

12/01/35

2,451,773

3,570,000

Sampson County, North Carolina, Limited Obligation Bonds,

Refunding Series 2017

.000

09/01/40

3,599,098

500,000

Scotland County, North Carolina, Limited Obligation Bonds,

Series 2017

.000

12/01/30

522,708

250,000

Scotland County, North Carolina, Limited Obligation Bonds,

Series 2017

.000

12/01/33

258,257

660,000

Scotland County, North Carolina, Limited Obligation Bonds,

Series 2018

.000

12/01/33

690,987

690,000

Scotland County, North Carolina, Limited Obligation Bonds,

Series 2018

.000

12/01/35

716,728

500,000

Wilmington, North Carolina, Limited Obligation Bonds, Series

2023D

.000

09/01/40

531,531

1,250,000

Wilmington, North Carolina, Limited Obligation Bonds, Series

2023D

.000

09/01/41

1,312,661

1,250,000

Wilmington, North Carolina, Limited Obligation Bonds, Series

2023D

.000

09/01/43

1,294,309

TOTAL TAX OBLIGATION/LIMITED

91,637,195

TRANSPORTATION - 19.9%

1,925,000

Charlotte, North Carolina, Airport Revenue Bonds, Charlotte

Douglas International, Refunding Series 2017A

.000

07/01/42

1,938,925

6,610,000

Charlotte, North Carolina, Airport Revenue Bonds, Charlotte

Douglas International, Refunding Series 2017A

.000

07/01/47

6,616,647

6,000,000

Charlotte, North Carolina, Airport Revenue Bonds, Charlotte

Douglas International, Series 2023A

.000

07/01/53

6,069,898

1,500,000

North Carolina Department of Transportation, Private Activity

Revenue Bonds, I-77 Hot Lanes Project, Series 2015, (AMT)

.000

12/31/37

1,500,717

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TRANSPORTATION

(continued)

$

10,170,000

North Carolina Department of Transportation, Private Activity

Revenue Bonds, I-77 Hot Lanes Project, Series 2015, (AMT)

.000

%

06/30/54

$

9,867,992

865,000

North Carolina Turnpike Authority, Monroe Expressway

Toll Revenue Bonds, Capital Appreciation Series 2017C

.000

07/01/27

807,683

880,000

North Carolina Turnpike Authority, Monroe Expressway

Toll Revenue Bonds, Capital Appreciation Series 2017C

.000

07/01/29

750,326

175,000

North Carolina Turnpike Authority, Monroe Expressway

Toll Revenue Bonds, Capital Appreciation Series 2017C

.000

07/01/32

128,228

1,500,000

North Carolina Turnpike Authority, Monroe Expressway

Toll Revenue Bonds, Capital Appreciation Series 2017C

.000

07/01/34

990,050

2,905,000

North Carolina Turnpike Authority, Monroe Expressway

Toll Revenue Bonds, Capital Appreciation Series 2017C

.000

07/01/35

1,818,288

3,735,000

North Carolina Turnpike Authority, Monroe Expressway

Toll Revenue Bonds, Capital Appreciation Series 2017C

.000

07/01/38

1,998,258

3,995,000

North Carolina Turnpike Authority, Monroe Expressway

Toll Revenue Bonds, Capital Appreciation Series 2017C

.000

07/01/39

2,013,451

2,385,000

North Carolina Turnpike Authority, Monroe Expressway

Toll Revenue Bonds, Capital Appreciation Series 2017C

.000

07/01/40

1,117,401

1,200,000

North Carolina Turnpike Authority, Monroe Expressway

Toll Revenue Bonds, Series 2017A

.000

07/01/47

1,192,360

5,150,000

North Carolina Turnpike Authority, Triangle Expressway System

Revenue Bonds, Capital Appreciation Series 2019

.000

01/01/42

2,270,007

15,500,000

North Carolina Turnpike Authority, Triangle Expressway System

Revenue Bonds, Capital Appreciation Series 2019

.000

01/01/47

4,986,696

6,000,000

North Carolina Turnpike Authority, Triangle Expressway System

Revenue Bonds, Capital Appreciation Series 2019

.000

01/01/48

1,823,562

2,600,000

North Carolina Turnpike Authority, Triangle Expressway System

Revenue Bonds, Capital Appreciation Series 2019

.000

01/01/49

746,634

4,875,000

North Carolina Turnpike Authority, Triangle Expressway System

Revenue Bonds, Refunding Series 2018A

.000

01/01/36

4,900,321

70,000

North Carolina Turnpike Authority, Triangle Expressway System

Revenue Bonds, Senior Lien Series 2009B - AGC Insured

.000

01/01/34

51,499

3,760,000

North Carolina Turnpike Authority, Triangle Expressway System

Revenue Bonds, Senior Lien Series 2009B - AGC Insured

.000

01/01/35

2,629,520

21,205,000

North Carolina Turnpike Authority, Triangle Expressway System

Revenue Bonds, Senior Lien Series 2009B - AGC Insured

.000

01/01/36

14,023,212

20,150,000

North Carolina Turnpike Authority, Triangle Expressway System

Revenue Bonds, Senior Lien Series 2009B - AGC Insured

.000

01/01/37

12,591,743

15,615,000

North Carolina Turnpike Authority, Triangle Expressway System

Revenue Bonds, Senior Lien Series 2009B - AGC Insured

.000

01/01/38

9,174,261

2,000,000

North Carolina Turnpike Authority, Triangle Expressway System

Revenue Bonds, Senior Lien Series 2024A - AGM Insured

.000

01/01/58

1,971,477

300,000

Raleigh Durham Airport Authority, North Carolina, Airport

Revenue Bonds, Refunding Series 2015A

.000

05/01/30

300,353

TOTAL TRANSPORTATION

92,279,509

U.S. GUARANTEED - 2.1% (b)

400,000

Cary, North Carolina, Combined Enterprise System Revenue

Bonds, Series 2017, (Pre-refunded 12/01/26)

.000

12/01/38

408,119

1,700,000

Cary, North Carolina, Combined Enterprise System Revenue

Bonds, Series 2017, (Pre-refunded 12/01/26)

.000

12/01/41

1,755,272

2,895,000

New Hanover County, North Carolina, Hospital Revenue Bonds,

New Hanover Regional Medical Center, Series 2017, (Pre-

refunded 10/01/27)

.000

10/01/35

3,055,781

2,990,000

New Hanover County, North Carolina, Hospital Revenue Bonds,

New Hanover Regional Medical Center, Series 2017, (Pre-

refunded 10/01/27)

.000

10/01/42

3,156,058

960,000

New Hanover County, North Carolina, Hospital Revenue Bonds,

New Hanover Regional Medical Center, Series 2017, (Pre-

refunded 10/01/27)

.000

10/01/47

1,013,316

310,000

North Carolina Eastern Municipal Power Agency, Power System

Revenue Bonds, Refunding Series 1993B, (ETM)

.000

01/01/26

313,452

TOTAL U.S. GUARANTEED

9,701,998

#### Portfolio of Investments August 31, 2025
(continued)

#### North Carolina

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

UTILITIES - 14.2%

$

1,800,000

Brunswick County, North Carolina, Enterprise System Revenue

Bonds, Series 2020

.000

%

04/01/46

$

1,293,181

1,895,000

Cape Fear Public Utility Authority, North Carolina, Water and

Sewer System Revenue Bonds, Refunding Series 2019A

.000

08/01/38

1,875,351

4,615,000

Cape Fear Public Utility Authority, North Carolina, Water and

Sewer System Revenue Bonds, Refunding Series 2019A

.000

08/01/44

4,228,494

1,000,000

Charlotte, North Carolina, Water and Sewer System Revenue

Bonds, Series 2024

.000

07/01/35

1,139,368

3,875,000

City of Raleigh, North Carolina, Combined Enterprise System

Revenue and Refunding Bonds, Series 2023

.000

09/01/48

3,986,850

1,900,000

Clayton, North Carolina, Water and Sewer System Revenue

Bonds, Series 2022

.000

08/01/45

1,945,688

4,045,000

Fayetteville Public Works Commission, North Carolina, Revenue

Bonds, Series 2023

.000

03/01/40

4,286,433

1,130,000

Fuquay-Varina, North Carolina, Combined Utilities Revenue

Bonds, Series 2024C

.000

06/01/32

1,280,415

1,250,000

Fuquay-Varina, North Carolina, Combined Utilities Revenue

Bonds, Series 2024C

.125

06/01/49

1,119,692

5,000,000

Greensboro, North Carolina, Combined Enterprise System

Revenue Bonds, Series 2017A

.000

06/01/47

4,572,134

1,000,000

Greensboro, North Carolina, Combined Enterprise System

Revenue Bonds, Series 2024B

.000

06/01/49

1,028,467

3,000,000

Greensboro, North Carolina, Combined Enterprise System

Revenue Bonds, Series 2024B

.000

06/01/54

3,068,170

330,000

Greenville Utilities Commission, North Carolina, Combined

Enterprise System Revenue Bonds, Series 2022

.000

12/01/41

313,525

325,000

Greenville Utilities Commission, North Carolina, Combined

Enterprise System Revenue Bonds, Series 2022

.000

12/01/42

303,413

300,000

Greenville Utilities Commission, North Carolina, Combined

Enterprise System Revenue Bonds, Series 2022

.125

12/01/43

281,879

330,000

Greenville Utilities Commission, North Carolina, Combined

Enterprise System Revenue Bonds, Series 2022

.125

12/01/44

307,251

725,000

Greenville Utilities Commission, North Carolina, Combined

Enterprise System Revenue Bonds, Series 2022

.000

12/01/46

740,599

340,000

Greenville Utilities Commission, North Carolina, Combined

Enterprise System Revenue Bonds, Series 2025

.000

09/01/30

380,535

275,000

Greenville Utilities Commission, North Carolina, Combined

Enterprise System Revenue Bonds, Series 2025

.000

09/01/31

310,758

3,330,000

Greenville, North Carolina, Combined Enterprise System

Revenue Bonds, Series 2016

.000

04/01/46

3,001,862

600,000

Jacksonville City, North Carolina, Enterprise System Revenue

Bonds, Refunding Series 2016

.250

05/01/29

659,554

3,500,000

Johnston County, North Carolina, Water and Sewer Revenue

Bonds, Series 2023

.000

04/01/48

3,096,511

4,125,000

Johnston County, North Carolina, Water and Sewer Revenue

Bonds, Series 2023

.000

04/01/53

3,550,592

3,335,000

Johnston County, North Carolina, Water and Sewer Revenue

Bonds, Series 2024

.000

04/01/49

3,395,413

2,870,000

Mebane, North Carolina, Combined Utilities Revenue Bonds,

Series 2024

.000

08/01/41

3,027,374

1,750,000

Metropolitan Sewerage District of Buncombe County, North

Carolina, Sewerage System Revenue Bonds, Series 2014

.000

07/01/39

1,750,895

1,430,000

Monroe, North Carolina, Combined Enterprise System Revenue

Bonds, Refunding Series 2017

.000

03/01/43

1,427,030

295,000

North Carolina Municipal Power Agency 1, Catawba Electric

Revenue Bonds, Refunding Series 2015A

.000

01/01/27

297,237

740,000

North Carolina Municipal Power Agency 1, Catawba Electric

Revenue Bonds, Refunding Series 2016A

.000

01/01/30

754,373

1,215,000

Oak Island, North Carolina, Enterprise System Revenue Bonds,

Refunding Series 2017

.000

06/01/27

1,270,553

1,335,000

Oak Island, North Carolina, Enterprise System Revenue Bonds,

Refunding Series 2017

.000

06/01/28

1,387,984

1,000,000

Oak Island, North Carolina, Enterprise System Revenue Bonds,

Refunding Series 2017

.000

06/01/33

1,027,955

Part F of Form N-PORT was prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") and in conformity with the

applicable rules and regulations of the U.S. Securities and Exchange Commission ("SEC") related to interim filings. Part F of Form N-PORT does not

include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in

financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For

a full set of the Fund's notes to financial statements, please refer to the Fund's most recently filed annual or semi-annual report.

Fair Value Measurements

The Fund's investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board of Directors/

Trustees. Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an

independent buyer in the principal or most advantageous market for the investment. U.S. GAAP establishes the three-tier hierarchy which is used to

maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements

for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs

are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect management's assumptions about

the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the

circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.

Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.

Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit

spreads, etc.).

Level 3 – Prices are determined using significant unobservable inputs (including management's assumptions in determining the fair value of

investments).

The following table summarizes the market value of the Fund's investments as of the end of the reporting period, based on the inputs used to value

them:

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

UTILITIES

(continued)

$

760,000

Oak Island, North Carolina, Enterprise System Revenue Bonds,

Refunding Series 2025

.000

%

06/01/32

$

853,219

885,000

Oak Island, North Carolina, Enterprise System Revenue Bonds,

Refunding Series 2025

.000

06/01/34

997,423

940,000

Onslow County, North Carolina, Combined Enterprise System

Revenue Bonds, Refunding Series 2016

.000

12/01/28

967,750

1,800,000

Onslow County, North Carolina, Combined Enterprise System

Revenue Bonds, Series 2023

.000

12/01/53

1,816,991

1,805,000

Sanford, North Carolina, Enterprise Systems Revenue Bonds,

Refunding Series 2019

.000

06/01/45

1,626,351

1,020,000

Union County, North Carolina, Enterprise System Revenue

Bonds, Series 2015

.000

06/01/31

1,024,819

500,000

Union County, North Carolina, Enterprise System Revenue

Bonds, Series 2015

.000

06/01/32

502,171

1,275,000

Union County, North Carolina, Enterprise System Revenue

Bonds, Series 2021

.000

06/01/51

864,025

TOTAL UTILITIES

65,762,285

TOTAL MUNICIPAL BONDS

(Cost $469,532,924)

460,788,790

TOTAL LONG-TERM INVESTMENTS

(Cost $469,532,924)

460,788,790

OTHER ASSETS & LIABILITIES, NET - 0.7%

3,311,281

NET ASSETS - 100%

$

464,100,071

AMT

Alternative Minimum Tax

ETM

Escrowed to maturity

(a) Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities are deemed liquid

and may be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.

As of the end of the reporting period, the aggregate value of these securities is $342,004 or 0.1% of Total Investments.

(b) Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely

payment of principal and interest.

North Carolina

Level 1

Level 2

Level 3

Total

Long-Term Investments:

Municipal Bonds

$

–

$

460,788,790

$

–

$

460,788,790

Total

$

–

$

460,788,790

$

–

$

460,788,790

#### Portfolio of Investments August 31, 2025
(continued)

#### North Carolina

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Nuveen Multistate Trust III

- **b. Investment Company Act file number:** 811-07943

- **c. CIK number of Registrant:** 0001020661

- **d. LEI of Registrant:** 549300KF91725RB3OG60

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

  - **Street Address 1:** 333 W. Wacker Dr

  - **City:** Chicago

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60606

  - **Telephone number:** 312-917-7700

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

- **a. Name of Series:** Nuveen Louisiana Municipal Bond Fund

- **b. EDGAR series identifier (if any):** S000000561

- **c. LEI of Series:** 5493002SIZJYOIQDDD50

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

- **a. Date of fiscal year-end:** 2026-05-31

- **b. Date as of which information is reported:** 2025-08-31

**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:** $220354130.00

**Total Liabilities:** $6117097.00

**Net Assets:** $214237033.00

**Delayed Delivery Securities:** $5181114.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -12.55000000 | **1-Year:** -722.56000000 | **5-Year:** -3139.48000000 | **10-Year:** -77725.27000000 | **30-Year:** -79151.70000000

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

- **3-Month:** 0.00000000 | **1-Year:** -99.38000000 | **5-Year:** -1282.91000000 | **10-Year:** -10285.10000000 | **30-Year:** -12198.09000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000001552 | 0.67%                | -0.99%               | 0.89%                |
| Class ID C000001555 | 0.69%                | -1.07%               | 0.91%                |
| Class ID C000137684 | 0.61%                | -1.07%               | 0.82%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-85512.25               | $877345.67                                 |
| Month 2  | $-460114.46              | $-2373056.62                               |
| Month 3  | $-62799.55               | $1101980.09                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| New York Counties Tobacco Trust VI, New York, Tobacco Settlement Pass-Through Bonds, Turbo Term Series 2016A. Including 2016A-1, 2016A-2A and 2016A-2B | New York Counties Tobacco Trust VI, New York, Tobacco Settlement Pass-Through Bonds, Turbo Term Series 2016A. Including 2016A-1, 2016A-2A and 2016A-2B | CUSIP: 64945JAE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    315000 | PA      | $268127.18    | 0.13%             | 2045-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Saint Paul Port Authority, Minnesota, Solid Waste Disposal Revenue Bonds, Gerdau Saint Paul Steel Mill Project, Series 2012-7                          | Saint Paul Port Authority, Minnesota, Solid Waste Disposal Revenue Bonds, Gerdau Saint Paul Steel Mill Project, Series 2012-7                          | CUSIP: 79307RAB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $233664.20    | 0.11%             | 2037-10-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Virgin Islands Water and Power Authority, Electric System Revenue Bonds, Series 2007B                                                                  | Virgin Islands Water and Power Authority, Electric System Revenue Bonds, Series 2007B                                                                  | CUSIP: 927688FL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $478110.55    | 0.22%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series 2006                                                                                          | TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series 2006                                                                                          | CUSIP: 898526FR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1160000 | PA      | $985102.39    | 0.46%             | 2048-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Solid Waste Disposal Facility Revenue Bonds,  Louisiana Pellets Inc Project, Series 2015                        | Louisiana Public Facilities Authority, Solid Waste Disposal Facility Revenue Bonds,  Louisiana Pellets Inc Project, Series 2015                        | CUSIP: 54640TAG4<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $10.00        | 0.00%             | 2026-07-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Guam Economic Development & Commerce Authority, Tobacco Settlement Asset-Backed Bonds, Series 2007A                                                    | Guam Economic Development & Commerce Authority, Tobacco Settlement Asset-Backed Bonds, Series 2007A                                                    | CUSIP: 40064LAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    595000 | PA      | $576723.62    | 0.27%             | 2032-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Lafayette Public Trust Financing Authority, Louisiana, Revenue Bonds, Ragin' Cajun Facilities Inc. Project, Refunding Series 2012                      | Lafayette Public Trust Financing Authority, Louisiana, Revenue Bonds, Ragin' Cajun Facilities Inc. Project, Refunding Series 2012                      | CUSIP: 506486DZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    815000 | PA      | $816437.17    | 0.38%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Housing Finance Agency, Multifamily Housing Revenue Bonds, Mallard Crossings Apartments, Series 2011                                         | Louisiana Housing Finance Agency, Multifamily Housing Revenue Bonds, Mallard Crossings Apartments, Series 2011                                         | CUSIP: 54626XBD9<br>LEI: 549300VL35TBE7RSJH61 | Long             | DBT              | MUN               | US        |   1795000 | PA      | $1796503.67   | 0.84%             | 2029-10-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Louisiana Tech University Student Housing & Re | Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Louisiana Tech University Student Housing & Re | CUSIP: 5462823B8<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001048.10   | 0.47%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Ragin' Cajun Facilities Inc.- Student Housing  | Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Ragin' Cajun Facilities Inc.- Student Housing  | CUSIP: 5462826J8<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2007911.80   | 0.94%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Bossier City Projects, Series 2015             | Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Bossier City Projects, Series 2015             | CUSIP: 546282P81<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1435000 | PA      | $1438658.10   | 0.67%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Series 2015                                                   | Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Series 2015                                                   | CUSIP: 5463983E6<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    200000 | PA      | $195614.16    | 0.09%             | 2047-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Revenue Bonds, Archdiocese of New Orleans, Refunding Series 2017                                                | Louisiana Public Facilities Authority, Revenue Bonds, Archdiocese of New Orleans, Refunding Series 2017                                                | CUSIP: 5463986X1<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $335000.00    | 0.16%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Revenue Bonds, Cleco Power LLC Project, Series 2008                                                             | Louisiana Public Facilities Authority, Revenue Bonds, Cleco Power LLC Project, Series 2008                                                             | CUSIP: 546398Q76<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   7315000 | PA      | $6985500.95   | 3.26%             | 2038-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Lease Revenue Bonds, Provident Group-Flagship Properties LLC - Louisiana State University Nicolson Gateway Proj | Louisiana Public Facilities Authority, Lease Revenue Bonds, Provident Group-Flagship Properties LLC - Louisiana State University Nicolson Gateway Proj | CUSIP: 54639TBS0<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1438840.80   | 0.67%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Citizens Property Insurance Corporation, Assessment Revenue Bonds, Refunding Series 2016A                                                    | Louisiana Citizens Property Insurance Corporation, Assessment Revenue Bonds, Refunding Series 2016A                                                    | CUSIP: 546456EF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    505000 | PA      | $514280.54    | 0.24%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Orleans, Louisiana, General Obligation Bonds, Refunding Series 2015                                                                                | New Orleans, Louisiana, General Obligation Bonds, Refunding Series 2015                                                                                | CUSIP: 64763FVJ5<br>LEI: 54930084B6KHR5PR2651 | Long             | DBT              | MUN               | US        |    125000 | PA      | $125808.45    | 0.06%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Orleans, Louisiana, General Obligation Bonds, Refunding Series 2015                                                                                | New Orleans, Louisiana, General Obligation Bonds, Refunding Series 2015                                                                                | CUSIP: 64763FVL0<br>LEI: 54930084B6KHR5PR2651 | Long             | DBT              | MUN               | US        |    525000 | PA      | $528277.16    | 0.25%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corporation, New York, Special Facilities Bonds, LaGuardia Airport Terminal B Redevelopment Project, Series 2016A  | New York Transportation Development Corporation, New York, Special Facilities Bonds, LaGuardia Airport Terminal B Redevelopment Project, Series 2016A  | CUSIP: 650116AR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    840000 | PA      | $795635.15    | 0.37%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Shreveport, Louisiana, Water and Sewer Revenue Bonds, Series 2016B                                                                                     | Shreveport, Louisiana, Water and Sewer Revenue Bonds, Series 2016B                                                                                     | CUSIP: 825485VD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2018037.00   | 0.94%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Terrebonne Parish Hospital Service District 1, Louisiana, Hospital Revenue Bonds, Terrebonne General Medical Center, Refunding Series 2013             | Terrebonne Parish Hospital Service District 1, Louisiana, Hospital Revenue Bonds, Terrebonne General Medical Center, Refunding Series 2013             | CUSIP: 881221EN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1085141.81   | 0.51%             | 2033-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Southeastern Louisiana University student Hous | Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Southeastern Louisiana University student Hous | CUSIP: 5462828M9<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1506195.60   | 0.70%             | 2042-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority of Wisconsin, Limited Obligation PILOT Revenue Bonds, American Dream @ Meadowlands Project, Series 2017                       | Public Finance Authority of Wisconsin, Limited Obligation PILOT Revenue Bonds, American Dream @ Meadowlands Project, Series 2017                       | CUSIP: 74446HAA7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    365000 | PA      | $292000.00    | 0.14%             | 2027-12-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| New Orleans Aviation Board, Louisiana, General Airport Revenue Bonds, North Terminal Project, Series 2017B                                             | New Orleans Aviation Board, Louisiana, General Airport Revenue Bonds, North Terminal Project, Series 2017B                                             | CUSIP: 64763HHK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1880000 | PA      | $1829301.10   | 0.85%             | 2048-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greater New Orleans Expressway Commission, Louisiana, Toll Revenue Bonds, Subordinate Lien Series 2017                                                 | Greater New Orleans Expressway Commission, Louisiana, Toll Revenue Bonds, Subordinate Lien Series 2017                                                 | CUSIP: 39225PAU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003988.80   | 0.47%             | 2047-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Jefferson Sales Tax District, Jefferson Parish, Louisiana, Special Sales Tax Revenue Bonds, Series 2017B                                               | Jefferson Sales Tax District, Jefferson Parish, Louisiana, Special Sales Tax Revenue Bonds, Series 2017B                                               | CUSIP: 474176KM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3014801.70   | 1.41%             | 2042-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Revenue Bonds, Loyola University Project, Refunding Series 2017                                                 | Louisiana Public Facilities Authority, Revenue Bonds, Loyola University Project, Refunding Series 2017                                                 | CUSIP: 5463988B7<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   2040000 | PA      | $1967905.79   | 0.92%             | 2046-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2009A          | Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2009A          | CUSIP: 67766WXM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1028382.10   | 0.48%             | 2033-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Lease Revenue Bonds, Provident Group-Flagship Properties LLC - Louisiana State University GreenHouse District P | Louisiana Public Facilities Authority, Lease Revenue Bonds, Provident Group-Flagship Properties LLC - Louisiana State University GreenHouse District P | CUSIP: 54639TCG5<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    200000 | PA      | $200402.36    | 0.09%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado High Performance Transportation Enterprise, C-470 Express Lanes Revenue Bonds, Senior Lien Series 2017                                        | Colorado High Performance Transportation Enterprise, C-470 Express Lanes Revenue Bonds, Senior Lien Series 2017                                        | CUSIP: 19648DAC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    785000 | PA      | $736228.58    | 0.34%             | 2051-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Womans Hospital Foundation Project, | Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Womans Hospital Foundation Project, | CUSIP: 54628CAT9<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2977692.00   | 1.39%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2017                              | Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2017                              | CUSIP: 546399CN4<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2971284.60   | 1.39%             | 2042-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| The Industrial Development Authority of the City of Saint Louis, Missouri, Development Financing Revenue Bonds, Ballpark Village Development Project,  | The Industrial Development Authority of the City of Saint Louis, Missouri, Development Financing Revenue Bonds, Ballpark Village Development Project,  | CUSIP: 85236BAC6<br>LEI: 549300WTUL8KX1FOUZ40 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $841172.80    | 0.39%             | 2047-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Tulane University, Refunding Series 2017A                                             | Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Tulane University, Refunding Series 2017A                                             | CUSIP: 546399EQ5<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    220000 | PA      | $230717.37    | 0.11%             | 2030-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Westlake Chemical Corporation Projects, Refund | Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Westlake Chemical Corporation Projects, Refund | CUSIP: 54628CDX7<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $965359.50    | 0.45%             | 2032-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government of Guam, Business Privilege Tax Bonds, Refunding Series 2015D                                                                               | Government of Guam, Business Privilege Tax Bonds, Refunding Series 2015D                                                                               | CUSIP: 40065NCH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    170000 | PA      | $154606.70    | 0.07%             | 2039-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Port New Orleans Board of Commissioners, Louisiana, Revenue Bonds, Port Facilities, Refunding Series 2018B                                             | Port New Orleans Board of Commissioners, Louisiana, Revenue Bonds, Port Facilities, Refunding Series 2018B                                             | CUSIP: 734782DA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2692913.30   | 1.26%             | 2045-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018B                                              | Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018B                                              | CUSIP: 888808HT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    165000 | PA      | $158839.03    | 0.07%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Cameron Parish GOMESA Project, Gree | Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Cameron Parish GOMESA Project, Gree | CUSIP: 54628CER9<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |    540000 | PA      | $557894.36    | 0.26%             | 2037-11-01      | Fixed         | 5.65%                 | Yes           |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Ragin' Cajun Facilities Inc.- Stude | Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Ragin' Cajun Facilities Inc.- Stude | CUSIP: 54628CEQ1<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2957402.70   | 1.38%             | 2048-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Revenue Bonds, Loyola University Project, Refunding Series 2017                                                 | Louisiana Public Facilities Authority, Revenue Bonds, Loyola University Project, Refunding Series 2017                                                 | CUSIP: 5463987X0<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   2835000 | PA      | $3054100.42   | 1.43%             | 2031-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Hospital Revenue Bonds, Franciscan Missionaries of Our Lady Health System, Series 2017A                         | Louisiana Public Facilities Authority, Hospital Revenue Bonds, Franciscan Missionaries of Our Lady Health System, Series 2017A                         | CUSIP: 546395N75<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2882540.10   | 1.35%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Hospital Revenue Bonds, Louisiana Children's Medical Center Hospital, Series 2015A-1. Fixed Rate Mode           | Louisiana Public Facilities Authority, Hospital Revenue Bonds, Louisiana Children's Medical Center Hospital, Series 2015A-1. Fixed Rate Mode           | CUSIP: 546395S62<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2978294.40   | 1.39%             | 2045-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Saint Tammany Parish Hospital Service District 1, Louisiana, Hospital Revenue Bonds, St. Tammany Parish Hospital Project, Refunding Series 2018A       | Saint Tammany Parish Hospital Service District 1, Louisiana, Hospital Revenue Bonds, St. Tammany Parish Hospital Project, Refunding Series 2018A       | CUSIP: 793556CL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $863059.90    | 0.40%             | 2043-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Orleans Aviation Board, Louisiana, Special Facility Revenue Bonds, Parking Facilities Corporation Consolidated Garage System, Series 2018A         | New Orleans Aviation Board, Louisiana, Special Facility Revenue Bonds, Parking Facilities Corporation Consolidated Garage System, Series 2018A         | CUSIP: 64763KAG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1806872.76   | 0.84%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Jefferson Parish Economic Development and Port District, Louisiana, Kenner Discovery Health Sciences Academy Project, Series 2018A                     | Jefferson Parish Economic Development and Port District, Louisiana, Kenner Discovery Health Sciences Academy Project, Series 2018A                     | CUSIP: 474548AB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1025000 | PA      | $1003771.74   | 0.47%             | 2038-06-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Jefferson Parish Economic Development and Port District, Louisiana, Kenner Discovery Health Sciences Academy Project, Series 2018A                     | Jefferson Parish Economic Development and Port District, Louisiana, Kenner Discovery Health Sciences Academy Project, Series 2018A                     | CUSIP: 474548AC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1390241.55   | 0.65%             | 2048-06-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Terrebonne Parish GOMESA Project, S | Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Terrebonne Parish GOMESA Project, S | CUSIP: 54628CES7<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |    400000 | PA      | $407322.76    | 0.19%             | 2039-11-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Terrebonne Parish GOMESA Project, S | Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Terrebonne Parish GOMESA Project, S | CUSIP: 54628CGA4<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |    100000 | PA      | $101809.53    | 0.05%             | 2038-11-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Lease Revenue Bonds, Provident Group-Flagship Properties LLC - Louisiana State University Nicolson Gateway Proj | Louisiana Public Facilities Authority, Lease Revenue Bonds, Provident Group-Flagship Properties LLC - Louisiana State University Nicolson Gateway Proj | CUSIP: 54639TBT8<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $5718325.80   | 2.67%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1                                                             | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1                                                             | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    344000 | PA      | $108723.75    | 0.05%             | 2046-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Vermilion Parish GOMESA Project, Gr | Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Vermilion Parish GOMESA Project, Gr | CUSIP: 54628CHV7<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1460000 | PA      | $1452128.70   | 0.68%             | 2038-11-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Shreveport, Louisiana, Water and Sewer Revenue Bonds, Junior Lien Series 2019B                                                                         | Shreveport, Louisiana, Water and Sewer Revenue Bonds, Junior Lien Series 2019B                                                                         | CUSIP: 825485XQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $305720.46    | 0.14%             | 2049-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Young Audiences Charter School, Series 2019A                                          | Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Young Audiences Charter School, Series 2019A                                          | CUSIP: 546399HV1<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $798674.30    | 0.37%             | 2057-04-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Young Audiences Charter School, Series 2019A                                          | Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Young Audiences Charter School, Series 2019A                                          | CUSIP: 546399HT6<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   1680000 | PA      | $1524980.52   | 0.71%             | 2039-04-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Saint Martin Parish GOMESA Project, | Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Saint Martin Parish GOMESA Project, | CUSIP: 54628CJA1<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |    100000 | PA      | $90797.31     | 0.04%             | 2044-11-01      | Fixed         | 4.40%                 | Yes           |                  2 | On Loan: No      |
| Saint Charles Parish School Board, Louisiana, Sales & Use Tax Bonds, Series 2019                                                                       | Saint Charles Parish School Board, Louisiana, Sales & Use Tax Bonds, Series 2019                                                                       | CUSIP: 788073DY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $750297.83    | 0.35%             | 2037-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Saint Charles Parish School Board, Louisiana, Sales & Use Tax Bonds, Series 2019                                                                       | Saint Charles Parish School Board, Louisiana, Sales & Use Tax Bonds, Series 2019                                                                       | CUSIP: 788073EA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    680000 | PA      | $662497.34    | 0.31%             | 2039-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Calcasieu Parish Memorial Hospital Service District, Louisiana, Revenue Bonds, Lake Charles Memorial Hospital, Refunding Series 2019                   | Calcasieu Parish Memorial Hospital Service District, Louisiana, Revenue Bonds, Lake Charles Memorial Hospital, Refunding Series 2019                   | CUSIP: 128423EX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    715000 | PA      | $718560.27    | 0.34%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority, Colorado, Revenue Bonds, CommonSpirit Health, Series 2019A-2                                                     | Colorado Health Facilities Authority, Colorado, Revenue Bonds, CommonSpirit Health, Series 2019A-2                                                     | CUSIP: 19648FKR4<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    390000 | PA      | $397131.62    | 0.19%             | 2039-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Calcasieu Parish School District 23, Louisiana, General Obligation Bonds, Public School Improvement Series 2019                                        | Calcasieu Parish School District 23, Louisiana, General Obligation Bonds, Public School Improvement Series 2019                                        | CUSIP: 128492JZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1568446.24   | 0.73%             | 2038-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Calcasieu Parish School District 23, Louisiana, General Obligation Bonds, Public School Improvement Series 2019                                        | Calcasieu Parish School District 23, Louisiana, General Obligation Bonds, Public School Improvement Series 2019                                        | CUSIP: 128492JY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1055000 | PA      | $1054946.83   | 0.49%             | 2037-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Jefferson Parish GOMESA Project, Se | Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Jefferson Parish GOMESA Project, Se | CUSIP: 54628CJC7<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2530356.00   | 1.18%             | 2044-11-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Saint John the Baptist Parish GOMES | Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Saint John the Baptist Parish GOMES | CUSIP: 54628CJE3<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |     80000 | PA      | $66521.65     | 0.03%             | 2044-11-01      | Fixed         | 3.90%                 | Yes           |                  2 | On Loan: No      |
| East Baton Rouge Sewerage Commission, Louisiana, Revenue Bonds, Refunding Series 2019A                                                                 | East Baton Rouge Sewerage Commission, Louisiana, Revenue Bonds, Refunding Series 2019A                                                                 | CUSIP: 270618FQ9<br>LEI: 5493006BC84VNIRSCG97 | Long             | DBT              | MUN               | US        |   1665000 | PA      | $1494114.06   | 0.70%             | 2045-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, The Glen Retirement System Project, Series 201 | Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, The Glen Retirement System Project, Series 201 | CUSIP: 54628DAK6<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   2800000 | PA      | $1926212.68   | 0.90%             | 2049-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Jefferson Sales Tax District, Jefferson Parish, Louisiana, Special Sales Tax Revenue Bonds, Series 2019B                                               | Jefferson Sales Tax District, Jefferson Parish, Louisiana, Special Sales Tax Revenue Bonds, Series 2019B                                               | CUSIP: 474176LH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1966518.20   | 0.92%             | 2038-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Orleans Aviation Board, Louisiana, General Airport Revenue Bonds, Gilf Opportunity Zone Project, Refunding Series 2019                             | New Orleans Aviation Board, Louisiana, General Airport Revenue Bonds, Gilf Opportunity Zone Project, Refunding Series 2019                             | CUSIP: 64763HKA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $198141.62    | 0.09%             | 2037-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Orleans Aviation Board, Louisiana, General Airport Revenue Bonds, Gilf Opportunity Zone Project, Refunding Series 2019                             | New Orleans Aviation Board, Louisiana, General Airport Revenue Bonds, Gilf Opportunity Zone Project, Refunding Series 2019                             | CUSIP: 64763HKC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1015000 | PA      | $976562.56    | 0.46%             | 2039-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Orleans Aviation Board, Louisiana, General Airport Revenue Bonds, Gilf Opportunity Zone Project, Refunding Series 2019                             | New Orleans Aviation Board, Louisiana, General Airport Revenue Bonds, Gilf Opportunity Zone Project, Refunding Series 2019                             | CUSIP: 64763HKB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $977095.20    | 0.46%             | 2038-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Lake Charles College Prep Project, Series 2019A                                       | Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Lake Charles College Prep Project, Series 2019A                                       | CUSIP: 546399HY5<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1226519.71   | 0.57%             | 2039-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020A-2 Class 1      | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020A-2 Class 1      | CUSIP: 118217CW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $667842.40    | 0.31%             | 2048-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics, L.P. Project, Series 2010B                                                             | Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics, L.P. Project, Series 2010B                                                             | CUSIP: 790103AX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    205000 | PA      | $218700.31    | 0.10%             | 2040-12-01      | Fixed         | 6.10%                 | Yes           |                  2 | On Loan: No      |
| Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics, L.P. Project, Series 2008                                                              | Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics, L.P. Project, Series 2008                                                              | CUSIP: 790103AU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2134212.00   | 1.00%             | 2038-06-01      | Fixed         | 6.10%                 | Yes           |                  2 | On Loan: No      |
| Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2020A                                                          | Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2020A                                                          | CUSIP: 40065FDF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $954205.90    | 0.45%             | 2050-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Housing Corporation, Single Family Mortgage Revenue Bonds, Home Ownership Program, Series 2020B                                              | Louisiana Housing Corporation, Single Family Mortgage Revenue Bonds, Home Ownership Program, Series 2020B                                              | CUSIP: 54627DFK2<br>LEI: 549300VL35TBE7RSJH61 | Long             | DBT              | MUN               | US        |   1220000 | PA      | $1224836.93   | 0.57%             | 2050-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Tulane University, Refunding Series 2020A                                             | Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Tulane University, Refunding Series 2020A                                             | CUSIP: 546399JT4<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1905174.80   | 0.89%             | 2040-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Hospital Revenue Bonds, Louisiana Children's Medical Center Hospital, Series 2020A                              | Louisiana Public Facilities Authority, Hospital Revenue Bonds, Louisiana Children's Medical Center Hospital, Series 2020A                              | CUSIP: 546395V43<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    300000 | PA      | $238585.89    | 0.11%             | 2050-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Provident Group - HSC Properties Inc - LSU Health Foundation, New Orleans Project, Se | Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Provident Group - HSC Properties Inc - LSU Health Foundation, New Orleans Project, Se | CUSIP: 546399KA3<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $767668.80    | 0.36%             | 2050-01-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| New Orleans, Louisiana, Sewerage Service Revenue Bonds, Series 2020B                                                                                   | New Orleans, Louisiana, Sewerage Service Revenue Bonds, Series 2020B                                                                                   | CUSIP: 647719PV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $822756.20    | 0.38%             | 2050-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Shreveport, Louisiana, Water and Sewer Revenue Bonds, Refunding Series 2020B                                                                           | Shreveport, Louisiana, Water and Sewer Revenue Bonds, Refunding Series 2020B                                                                           | CUSIP: 825485XS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $985694.10    | 0.46%             | 2050-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Saint Tammany Parish GOMESA Project | Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Saint Tammany Parish GOMESA Project | CUSIP: 54628CRM6<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1795000 | PA      | $1480526.23   | 0.69%             | 2045-11-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Cameron Parish School District 15, Louisiana, General Obligation Bonds, Series 2021                                                                    | Cameron Parish School District 15, Louisiana, General Obligation Bonds, Series 2021                                                                    | CUSIP: 133565CJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $327038.50    | 0.15%             | 2039-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Cameron Parish School District 15, Louisiana, General Obligation Bonds, Series 2021                                                                    | Cameron Parish School District 15, Louisiana, General Obligation Bonds, Series 2021                                                                    | CUSIP: 133565CK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $391995.65    | 0.18%             | 2040-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Cameron Parish School District 15, Louisiana, General Obligation Bonds, Series 2021                                                                    | Cameron Parish School District 15, Louisiana, General Obligation Bonds, Series 2021                                                                    | CUSIP: 133565CG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    265000 | PA      | $257409.74    | 0.12%             | 2037-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Saint Tammany Parish Hospital Service District 1, Louisiana, Hospital Revenue Bonds, St. Tammany Parish Hospital Project, Refunding Series 2018A       | Saint Tammany Parish Hospital Service District 1, Louisiana, Hospital Revenue Bonds, St. Tammany Parish Hospital Project, Refunding Series 2018A       | CUSIP: 793556CJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1430103.64   | 0.67%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Saint Tammany Parish Hospital Service District 1, Louisiana, Hospital Revenue Bonds, St. Tammany Parish Hospital Project, Refunding Series 2018A       | Saint Tammany Parish Hospital Service District 1, Louisiana, Hospital Revenue Bonds, St. Tammany Parish Hospital Project, Refunding Series 2018A       | CUSIP: 793556CH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1715000 | PA      | $1759573.88   | 0.82%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Nicholls State University Student Recreation C | Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Nicholls State University Student Recreation C | CUSIP: 54628CUB6<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   2385000 | PA      | $2076959.60   | 0.97%             | 2038-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana State Correctional Facilities Corporation, Lease Revenue Bonds, Office of Juvenile Justice Project, Series 2021                              | Louisiana State Correctional Facilities Corporation, Lease Revenue Bonds, Office of Juvenile Justice Project, Series 2021                              | CUSIP: 546458DK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1435000 | PA      | $1366184.58   | 0.64%             | 2038-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Entergy Louisiana, LLC Project, Ref | Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Entergy Louisiana, LLC Project, Ref | CUSIP: 54628CUH3<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $816538.20    | 0.38%             | 2036-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, New Orleans GOMESA Project, Series  | Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, New Orleans GOMESA Project, Series  | CUSIP: 54628CUF7<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |    900000 | PA      | $750847.41    | 0.35%             | 2046-11-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Loyola University of New Orleans Project, Refunding Series 2021                       | Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Loyola University of New Orleans Project, Refunding Series 2021                       | CUSIP: 546399LL8<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |     20000 | PA      | $17338.55     | 0.01%             | 2041-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Loyola University of New Orleans Project, Refunding Series 2021                       | Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Loyola University of New Orleans Project, Refunding Series 2021                       | CUSIP: 546399LM6<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   3350000 | PA      | $2594088.25   | 1.21%             | 2051-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Loyola University of New Orleans Project, Refunding Series 2021                       | Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Loyola University of New Orleans Project, Refunding Series 2021                       | CUSIP: 546399LK0<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   1275000 | PA      | $1127613.57   | 0.53%             | 2040-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Saint Tammany Parish Hospital Service District 2, Louisiana, General Obligation Bonds, Series 2021                                                     | Saint Tammany Parish Hospital Service District 2, Louisiana, General Obligation Bonds, Series 2021                                                     | CUSIP: 79353PHT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1305000 | PA      | $1289863.17   | 0.60%             | 2038-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Saint Tammany Parish Hospital Service District 2, Louisiana, General Obligation Bonds, Series 2021                                                     | Saint Tammany Parish Hospital Service District 2, Louisiana, General Obligation Bonds, Series 2021                                                     | CUSIP: 79353PHV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1430000 | PA      | $1361136.06   | 0.64%             | 2040-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Livingston Parish School District 1, Louisiana, General Obligation Bonds, Series 2021                                                                  | Livingston Parish School District 1, Louisiana, General Obligation Bonds, Series 2021                                                                  | CUSIP: 538803WY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    545000 | PA      | $518333.91    | 0.24%             | 2039-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Livingston Parish School District 1, Louisiana, General Obligation Bonds, Series 2021                                                                  | Livingston Parish School District 1, Louisiana, General Obligation Bonds, Series 2021                                                                  | CUSIP: 538803XA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $925236.00    | 0.43%             | 2041-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Ragin' Cajun Facilities Inc.- Stude | Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Ragin' Cajun Facilities Inc.- Stude | CUSIP: 54628CXR8<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1030000 | PA      | $1014063.53   | 0.47%             | 2039-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Ragin Cajun Facilities, Inc. Lewis  | Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Ragin Cajun Facilities, Inc. Lewis  | CUSIP: 54628CYP1<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |    750000 | PA      | $667131.30    | 0.31%             | 2042-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Ragin' Cajun Facilities Inc.- Athle | Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Ragin' Cajun Facilities Inc.- Athle | CUSIP: 54628CZK1<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |    500000 | PA      | $460609.80    | 0.22%             | 2040-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Ragin' Cajun Facilities Inc.- Athle | Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Ragin' Cajun Facilities Inc.- Athle | CUSIP: 54628CZM7<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |    720000 | PA      | $640446.05    | 0.30%             | 2042-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tangipahoa Parish Hospital Service District 1, Louisiana, Hospital Revenue Bonds, North Oaks Health System Project, Refunding Series 2021              | Tangipahoa Parish Hospital Service District 1, Louisiana, Hospital Revenue Bonds, North Oaks Health System Project, Refunding Series 2021              | CUSIP: 875518EZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $924570.20    | 0.43%             | 2039-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Orleans, Louisiana, General Obligation Bonds, Public Improvement Series 2021A                                                                      | New Orleans, Louisiana, General Obligation Bonds, Public Improvement Series 2021A                                                                      | CUSIP: 64763FYZ6<br>LEI: 54930084B6KHR5PR2651 | Long             | DBT              | MUN               | US        |   1720000 | PA      | $1801605.23   | 0.84%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority, Hospital Revenue Bonds, (Hospital Auxi | Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority, Hospital Revenue Bonds, (Hospital Auxi | CUSIP: 74527EFN3<br>LEI: 549300YJRISCG6HQ4512 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1058904.30   | 0.49%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority, Hospital Revenue Bonds, (Hospital Auxi | Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority, Hospital Revenue Bonds, (Hospital Auxi | CUSIP: 74527EFM5<br>LEI: 549300YJRISCG6HQ4512 | Long             | DBT              | MUN               | US        |    310000 | PA      | $332435.41    | 0.16%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Housing Corporation, Single Family Mortgage Revenue Bonds, Home Ownership Program, Series 2021D                                              | Louisiana Housing Corporation, Single Family Mortgage Revenue Bonds, Home Ownership Program, Series 2021D                                              | CUSIP: 54627DHW4<br>LEI: 549300VL35TBE7RSJH61 | Long             | DBT              | MUN               | US        |   2005000 | PA      | $2003073.60   | 0.93%             | 2052-06-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, McNeese State University Student Parking - Cow | Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, McNeese State University Student Parking - Cow | CUSIP: 54628CB27<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |    500000 | PA      | $464451.25    | 0.22%             | 2033-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, McNeese State University Student Parking - Cow | Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, McNeese State University Student Parking - Cow | CUSIP: 54628CB43<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1004736.48   | 0.47%             | 2037-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, McNeese State University Student Parking - Cow | Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, McNeese State University Student Parking - Cow | CUSIP: 54628CB50<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1270000 | PA      | $984052.52    | 0.46%             | 2039-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, McNeese State University Student Parking - Cow | Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, McNeese State University Student Parking - Cow | CUSIP: 54628CB68<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $712641.80    | 0.33%             | 2042-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| New Orleans, Louisiana, General Obligation Bonds, Audubon Commission Projects, Series 2021                                                             | New Orleans, Louisiana, General Obligation Bonds, Audubon Commission Projects, Series 2021                                                             | CUSIP: 64763FB81<br>LEI: 54930084B6KHR5PR2651 | Long             | DBT              | MUN               | US        |   3130000 | PA      | $3069251.08   | 1.43%             | 2037-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tangipahoa Water District, Tangipahoa, Louisiana, Water Revenue Bonds, Series 2021                                                                     | Tangipahoa Water District, Tangipahoa, Louisiana, Water Revenue Bonds, Series 2021                                                                     | CUSIP: 875682GV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    295000 | PA      | $289396.92    | 0.14%             | 2038-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pineville, Louisiana, Utility Revenue Bonds, Series 2022                                                                                               | Pineville, Louisiana, Utility Revenue Bonds, Series 2022                                                                                               | CUSIP: 723376JE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1505000 | PA      | $1389565.15   | 0.65%             | 2042-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pineville, Louisiana, Utility Revenue Bonds, Series 2022                                                                                               | Pineville, Louisiana, Utility Revenue Bonds, Series 2022                                                                                               | CUSIP: 723376JF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $886313.50    | 0.41%             | 2047-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana State, General Obligation Bonds, Series 2021A                                                                                                | Louisiana State, General Obligation Bonds, Series 2021A                                                                                                | CUSIP: 546417FB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    980000 | PA      | $1017307.62   | 0.47%             | 2041-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Juban Trails Community Development District, Livingston Parish, Louisiana, Special Assessment  Revenue Bonds, Series 2022                              | Juban Trails Community Development District, Livingston Parish, Louisiana, Special Assessment  Revenue Bonds, Series 2022                              | CUSIP: 48129XAC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $790548.10    | 0.37%             | 2051-06-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Matching Fund Special Purpose Securitization Corporation, Virgin Islands, Revenue Bonds, Series 2022A                                                  | Matching Fund Special Purpose Securitization Corporation, Virgin Islands, Revenue Bonds, Series 2022A                                                  | CUSIP: 57665NAG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $159418.85    | 0.07%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Tulane University, Refunding Series 2020A                                             | Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Tulane University, Refunding Series 2020A                                             | CUSIP: 546399PD2<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    355000 | PA      | $374004.32    | 0.17%             | 2050-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Jefferson Sales Tax District, Jefferson Parish, Louisiana, Special Sales Tax Revenue Bonds, Series 2019B                                               | Jefferson Sales Tax District, Jefferson Parish, Louisiana, Special Sales Tax Revenue Bonds, Series 2019B                                               | CUSIP: 474176LJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2908190.70   | 1.36%             | 2039-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Lakeshore Villages Master Community Development District, St. Tammany Parish, Louisiana, Special Assessment Revenue Bonds, Series 2022                 | Lakeshore Villages Master Community Development District, St. Tammany Parish, Louisiana, Special Assessment Revenue Bonds, Series 2022                 | CUSIP: 512098AN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $961351.20    | 0.45%             | 2052-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Lincoln Preparatory School Project, Series 2022A                                      | Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Lincoln Preparatory School Project, Series 2022A                                      | CUSIP: 546399PJ9<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    270000 | PA      | $239091.67    | 0.11%             | 2062-06-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Jefferson Rise Charter School Project, Series 2022A                                   | Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Jefferson Rise Charter School Project, Series 2022A                                   | CUSIP: 546399PM2<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    500000 | PA      | $476584.55    | 0.22%             | 2052-06-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Jefferson Rise Charter School Project, Series 2022A                                   | Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Jefferson Rise Charter School Project, Series 2022A                                   | CUSIP: 546399PN0<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    540000 | PA      | $514653.26    | 0.24%             | 2062-06-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| New Orleans, Louisiana, General Obligation Bonds, Refunding Series 2022                                                                                | New Orleans, Louisiana, General Obligation Bonds, Refunding Series 2022                                                                                | CUSIP: 64763FE54<br>LEI: 54930084B6KHR5PR2651 | Long             | DBT              | MUN               | US        |   1835000 | PA      | $1964228.41   | 0.92%             | 2038-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Orleans, Louisiana, Sewerage Service Revenue Bonds, Series 2020B                                                                                   | New Orleans, Louisiana, Sewerage Service Revenue Bonds, Series 2020B                                                                                   | CUSIP: 647719PU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1088767.66   | 0.51%             | 2045-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port New Orleans Board of Commissioners, Louisiana, Revenue Bonds, Port Facilities Bonds, Series 2020 D                                                | Port New Orleans Board of Commissioners, Louisiana, Revenue Bonds, Port Facilities Bonds, Series 2020 D                                                | CUSIP: 734782DB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1975475.60   | 0.92%             | 2050-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Tulane University, Refunding Series 2023A                                             | Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Tulane University, Refunding Series 2023A                                             | CUSIP: 546399QP4<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3021569.70   | 1.41%             | 2048-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Stadium and Exposition District, Revenue Bonds, Senior Series 2023A                                                                          | Louisiana Stadium and Exposition District, Revenue Bonds, Senior Series 2023A                                                                          | CUSIP: 546410CX7<br>LEI: 5493000QEHWDGVGH7J62 | Long             | DBT              | MUN               | US        |   2325000 | PA      | $2318335.39   | 1.08%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Stadium and Exposition District, Revenue Bonds, Senior Series 2023A                                                                          | Louisiana Stadium and Exposition District, Revenue Bonds, Senior Series 2023A                                                                          | CUSIP: 546410CY5<br>LEI: 5493000QEHWDGVGH7J62 | Long             | DBT              | MUN               | US        |   1735000 | PA      | $1755201.65   | 0.82%             | 2053-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Louisiana State Correctional Facilities Corporation, Lease Revenue Bonds, Correctional Institution for Women Series 2023                               | Louisiana State Correctional Facilities Corporation, Lease Revenue Bonds, Correctional Institution for Women Series 2023                               | CUSIP: 546458EG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $669304.56    | 0.31%             | 2041-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana State Correctional Facilities Corporation, Lease Revenue Bonds, Correctional Institution for Women Series 2023                               | Louisiana State Correctional Facilities Corporation, Lease Revenue Bonds, Correctional Institution for Women Series 2023                               | CUSIP: 546458EJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $896418.60    | 0.42%             | 2043-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Loyola University of New Orleans Project, Series 2023A                                | Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Loyola University of New Orleans Project, Series 2023A                                | CUSIP: 546399RP3<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1911059.80   | 0.89%             | 2048-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds,  Refunding Series 2024A                                               | Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds,  Refunding Series 2024A                                               | CUSIP: 40065FDV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    505000 | PA      | $541757.69    | 0.25%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Housing Corporation, Single Family Mortgage Revenue Bonds, Home Ownership Program, Series 2024A                                              | Louisiana Housing Corporation, Single Family Mortgage Revenue Bonds, Home Ownership Program, Series 2024A                                              | CUSIP: 54627DQB0<br>LEI: 549300VL35TBE7RSJH61 | Long             | DBT              | MUN               | US        |   1075000 | PA      | $1006130.45   | 0.47%             | 2054-12-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Womans Hospital Foundation Project, | Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Womans Hospital Foundation Project, | CUSIP: 54628CAS1<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1790078.40   | 0.84%             | 2041-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Plaquemines Port, Louisiana, Harbor and Terminal District Facilities Revenue Bonds NOLA Terminal LLC Project Dock and Wharf Series 2024A               | Plaquemines Port, Louisiana, Harbor and Terminal District Facilities Revenue Bonds NOLA Terminal LLC Project Dock and Wharf Series 2024A               | CUSIP: 727521AA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $417891.55    | 0.20%             | 2044-12-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Guam Power Authority, Revenue Bonds, Refunding Series 2024A                                                                                            | Guam Power Authority, Revenue Bonds, Refunding Series 2024A                                                                                            | CUSIP: 400653LA7<br>LEI: 549300IPOV320QCKW060 | Long             | DBT              | MUN               | US        |    535000 | PA      | $559372.09    | 0.26%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Publics Facilities Authority, Louisiana, Revenue Bonds, I-10 Calcasieu River Bridge Public-Private Partnership Project, Senior Lien Series 2 | Louisiana Publics Facilities Authority, Louisiana, Revenue Bonds, I-10 Calcasieu River Bridge Public-Private Partnership Project, Senior Lien Series 2 | CUSIP: 546399TA4<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   5465000 | PA      | $4908309.41   | 2.29%             | 2066-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, East Baton Rouge Sewerage Commissio | Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, East Baton Rouge Sewerage Commissio | CUSIP: 54628CZ54<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1525000 | PA      | $1593735.72   | 0.74%             | 2041-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Lake Charles Charter Academy Foundation Project, Refunding Series 2024A               | Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Lake Charles Charter Academy Foundation Project, Refunding Series 2024A               | CUSIP: 546399TY2<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1826688.20   | 0.85%             | 2043-12-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Tangipahoa Water District, Tangipahoa, Louisiana, Water Revenue Bonds, Refunding Series 2024                                                           | Tangipahoa Water District, Tangipahoa, Louisiana, Water Revenue Bonds, Refunding Series 2024                                                           | CUSIP: 875682HL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $854281.00    | 0.40%             | 2044-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Guam A.B. Won Pat  International Airport Authority, Revenue Bonds, Series 2024A                                                                        | Guam A.B. Won Pat  International Airport Authority, Revenue Bonds, Series 2024A                                                                        | CUSIP: 40064RFQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $104954.29    | 0.05%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Guam A.B. Won Pat  International Airport Authority, Revenue Bonds, Series 2024A                                                                        | Guam A.B. Won Pat  International Airport Authority, Revenue Bonds, Series 2024A                                                                        | CUSIP: 40064RFR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $106017.09    | 0.05%             | 2035-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Guam A.B. Won Pat  International Airport Authority, Revenue Bonds, Series 2024A                                                                        | Guam A.B. Won Pat  International Airport Authority, Revenue Bonds, Series 2024A                                                                        | CUSIP: 40064RFU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $103880.08    | 0.05%             | 2038-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Guam A.B. Won Pat  International Airport Authority, Revenue Bonds, Series 2024A                                                                        | Guam A.B. Won Pat  International Airport Authority, Revenue Bonds, Series 2024A                                                                        | CUSIP: 40064RFV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $103307.11    | 0.05%             | 2039-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Guam A.B. Won Pat  International Airport Authority, Revenue Bonds, Series 2024A                                                                        | Guam A.B. Won Pat  International Airport Authority, Revenue Bonds, Series 2024A                                                                        | CUSIP: 40064RFT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $183011.64    | 0.09%             | 2037-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Guam A.B. Won Pat  International Airport Authority, Revenue Bonds, Series 2024A                                                                        | Guam A.B. Won Pat  International Airport Authority, Revenue Bonds, Series 2024A                                                                        | CUSIP: 40064RFW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $102816.08    | 0.05%             | 2040-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Loyola University of New Orleans Project, Series 2023A                                | Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Loyola University of New Orleans Project, Series 2023A                                | CUSIP: 546399RE8<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    250000 | PA      | $258462.70    | 0.12%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Loyola University of New Orleans Project, Series 2023A                                | Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Loyola University of New Orleans Project, Series 2023A                                | CUSIP: 546399RF5<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    250000 | PA      | $262003.38    | 0.12%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Refunding Second Lien Series 2024A                                                              | Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Refunding Second Lien Series 2024A                                                              | CUSIP: 546475WR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3505000 | PA      | $3128383.89   | 1.46%             | 2044-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Orleans Aviation Board, Louisiana, General Airport Revenue Bonds, Series 2024C-2                                                                   | New Orleans Aviation Board, Louisiana, General Airport Revenue Bonds, Series 2024C-2                                                                   | CUSIP: 64763HNM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006628.60   | 0.47%             | 2049-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Orleans Aviation Board, Louisiana, General Airport Revenue Bonds, Series 2024C-2                                                                   | New Orleans Aviation Board, Louisiana, General Airport Revenue Bonds, Series 2024C-2                                                                   | CUSIP: 64763HNN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1254385.38   | 0.59%             | 2051-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Louisiana State Correctional Facilities Corporation, Lease Revenue Bonds, Office of Juvenile Justice Project, Series 2021                              | Louisiana State Correctional Facilities Corporation, Lease Revenue Bonds, Office of Juvenile Justice Project, Series 2021                              | CUSIP: 546458DM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1305000 | PA      | $1196071.78   | 0.56%             | 2040-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Saint John the Baptist Parish, Louisiana, Revenue Bonds, Marathon Oil Corporation Project, Refunding Series 2017C                                      | Saint John the Baptist Parish, Louisiana, Revenue Bonds, Marathon Oil Corporation Project, Refunding Series 2017C                                      | CUSIP: 79020FBB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2035000 | PA      | $2053561.24   | 0.96%             | 2037-06-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Christwood Project, Refunding Series 2024      | Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Christwood Project, Refunding Series 2024      | CUSIP: 54628C3B6<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |    850000 | PA      | $739041.26    | 0.34%             | 2059-11-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Central Community School System, East Baton Rouge Parish, Louisiana, General Obligation Bonds, Series 2020                                             | Central Community School System, East Baton Rouge Parish, Louisiana, General Obligation Bonds, Series 2020                                             | CUSIP: 153135FC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1093858.99   | 0.51%             | 2039-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Lafourche Parish Water District 1, Louisiana, Water Revenue Bonds, Series 2025                                                                         | Lafourche Parish Water District 1, Louisiana, Water Revenue Bonds, Series 2025                                                                         | CUSIP: 507048KX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1600839.28   | 0.75%             | 2050-01-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Louisiana Tech University Student Housing/Inno | Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Louisiana Tech University Student Housing/Inno | CUSIP: 5462824V3<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $885414.30    | 0.41%             | 2046-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Lease Revenue Bonds, Provident Group-Flagship Properties LLC - Louisiana State University GreenHouse District P | Louisiana Public Facilities Authority, Lease Revenue Bonds, Provident Group-Flagship Properties LLC - Louisiana State University GreenHouse District P | CUSIP: 54639TCX8<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   2365000 | PA      | $1996396.54   | 0.93%             | 2054-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Port New Orleans Board of Commissioners, Louisiana, Revenue Bonds, Port Facilities, AMT Series 2025B                                                   | Port New Orleans Board of Commissioners, Louisiana, Revenue Bonds, Port Facilities, AMT Series 2025B                                                   | CUSIP: 734782EC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3074048.40   | 1.43%             | 2054-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Lease Revenue Bonds, Provident Group-Flagship Properties LLC - Louisiana State University GreenHouse District P | Louisiana Public Facilities Authority, Lease Revenue Bonds, Provident Group-Flagship Properties LLC - Louisiana State University GreenHouse District P | CUSIP: 54639TDA7<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   4510000 | PA      | $4387795.69   | 2.05%             | 2059-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Orleans, Louisiana, General Obligation Bonds, Public Improvement Series 2021A                                                                      | New Orleans, Louisiana, General Obligation Bonds, Public Improvement Series 2021A                                                                      | CUSIP: 64763FC49<br>LEI: 54930084B6KHR5PR2651 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2012767.00   | 0.94%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Christus Health, Refunding Series 2019A                                               | Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Christus Health, Refunding Series 2019A                                               | CUSIP: 546399GB6<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   3245000 | PA      | $3258543.33   | 1.52%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2025A                             | Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2025A                             | CUSIP: 546399UP9<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1808329.95   | 0.84%             | 2055-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2025A                             | Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2025A                             | CUSIP: 546399UN4<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2226525.62   | 1.04%             | 2055-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority, Revenue Bonds, Ascension Health Alliance, Series 2016C                                                                     | Illinois Finance Authority, Revenue Bonds, Ascension Health Alliance, Series 2016C                                                                     | CUSIP: 45204FP66<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    420000 | PA      | $427603.93    | 0.20%             | 2036-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority, Revenue Bonds, Ascension Health Alliance, Series 2016C                                                                     | Illinois Finance Authority, Revenue Bonds, Ascension Health Alliance, Series 2016C                                                                     | CUSIP: 45204FN84<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |     85000 | PA      | $88100.18     | 0.04%             | 2036-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, John F Kennedy International Airport Terminal One Project,  | New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, John F Kennedy International Airport Terminal One Project,  | CUSIP: 650116JQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1115000 | PA      | $1141734.02   | 0.53%             | 2059-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2025A                                                          | Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2025A                                                          | CUSIP: 40065FFK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1171922.57   | 0.55%             | 2055-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Saint Tammany Parish Hospital Service District 2, Louisiana, General Obligation Bonds, Series 2025                                                     | Saint Tammany Parish Hospital Service District 2, Louisiana, General Obligation Bonds, Series 2025                                                     | CUSIP: 79353PJN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2155000 | PA      | $2207280.73   | 1.03%             | 2042-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Saint Tammany Parish Hospital Service District 2, Louisiana, General Obligation Bonds, Series 2025                                                     | Saint Tammany Parish Hospital Service District 2, Louisiana, General Obligation Bonds, Series 2025                                                     | CUSIP: 79353PJM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1861213.32   | 0.87%             | 2041-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greater New Orleans Expressway Commission, Louisiana, Toll Revenue Bonds, Subordinate Lien Refunding Series 2025                                       | Greater New Orleans Expressway Commission, Louisiana, Toll Revenue Bonds, Subordinate Lien Refunding Series 2025                                       | CUSIP: 39225PBS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1090441.06   | 0.51%             | 2046-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-31

**Name of Applicant:** Nuveen Multistate Trust III

**Signature:** Gina Spunder

**Name of Signer:** Gina Spunder

**Title:** Director, Fund Financial Reporting