# EDGAR Filing Document

**Accession Number:** 0000784056
**File Stem:** 0001752724-23-042972
**Filing Date:** 2023-2
**Character Count:** 101460
**Document Hash:** 9ac315ee9468c7c5d81fcc0d6b0584da
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-042972.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001752724-23-042972

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221230

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**PERIOD START**: 20230331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AQUILA MUNICIPAL TRUST
- **CENTRAL INDEX KEY:** 0000784056
- **IRS NUMBER:** 136864349
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04503
- **FILM NUMBER:** 23673875

**BUSINESS ADDRESS:**
- **STREET 1:** 120 WEST 45TH STREET
- **STREET 2:** STE 3600
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036
- **BUSINESS PHONE:** 2126976666

**MAIL ADDRESS:**
- **STREET 1:** 120 WEST 45TH STREET
- **STREET 2:** SUITE 3600
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TAX-FREE TRUST OF ARIZONA
- **DATE OF NAME CHANGE:** 20060126

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TAX FREE TRUST OF ARIZONA
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Aquila Narragansett Tax-Free Income Fund (Series ID: S000041642)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000129279 | Class C      | NITCX           |
| C000129280 | Class I      | NITIX           |
| C000129281 | Class Y      | NITYX           |
| C000129282 | Class A      | NITFX           |
| C000188815 | Class F      | NIFFX           |

## Nport-Ex

**AQUILA NARRAGANSETT TAX-FREE INCOME FUND** 

SCHEDULE OF INVESTMENTS

**December 31, 2022**

(unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Amount** | **General Obligation Bonds (27.2%)** | **Ratings<br> Moody's, S&P<br> and Fitch** | **Value** | **(a)** |
|  | Barrington, Rhode Island |  |  |  |
| $840000 | 2.500%, 08/01/25 | Aa1/NR/NR | $824099 |  |
|  | Bristol, Rhode Island |  |  |  |
| 865000 | 3.500%, 08/01/31 | NR/AA+/NR | 876262 |  |
| 1900000 | 3.000%, 08/01/38 Series 2021A | NR/AA+/NR | 1648877 |  |
|  | Coventry, Rhode Island |  |  |  |
| 1605000 | 3.625%, 03/15/27 AGMC Insured | A1/AA/NR | 1628674 |  |
|  | Cranston, Rhode Island |  |  |  |
| 1325000 | 4.000%, 07/01/28 | A1/AA-/AA+ | 1383737 |  |
| 1170000 | 5.000%, 08/01/32 Series 2018 A | A1/AA-/AA+ | 1308317 |  |
| 1000000 | 4.000%, 08/01/33 Series 2019 A BAMI Insured | A1/AA/AA+ | 1053480 |  |
| 615000 | 4.000%, 08/01/35 Series 2019 A BAMI Insured | A1/AA/AA+ | 641162 |  |
| 860000 | 4.000%, 08/15/34 Series 2021 A | NR/AA-/AA+ | 896335 |  |
| 455000 | 4.000%, 08/15/35 Series 2021 A | NR/AA-/AA+ | 471339 |  |
| 475000 | 4.000%, 08/15/36 Series 2021 A | NR/AA-/AA+ | 481650 |  |
| 1515000 | 4.250%, 07/15/24 Series B BAMI Insured | A1/AA/AA+ | 1548375 |  |
| 1000000 | 4.250%, 07/15/25 Series B BAMI Insured | A1/AA/AA+ | 1038270 |  |
|  | Cumberland, Rhode Island |  |  |  |
| 500000 | 4.250%, 11/01/27 Series 2011 A | NR/AA+/NR | 500585 |  |
| 500000 | 4.625%, 11/01/31 Series 2011 A | NR/AA+/NR | 500705 |  |
| 700000 | 4.500%, 03/15/32 Series 2018 A | NR/AA+/NR | 757631 |  |
|  | Hopkinton, Rhode Island |  |  |  |
| 450000 | 4.375%, 08/15/31 | Aa3/NR/NR | 450414 |  |
|  | Johnston, Rhode Island |  |  |  |
| 1020000 | 3.450%, 06/01/29 Series A | A1/AA/NR | 1020326 |  |
| 1020000 | 3.700%, 06/01/33 Series A | A1/AA/NR | 1016532 |  |
|  | Lincoln, Rhode Island |  |  |  |
| 1500000 | 3.500%, 08/01/24 Series A | Aa2/NR/AAA | 1512720 |  |
| 2225000 | 3.500%, 08/01/25 Series A | Aa2/NR/AAA | 2262002 |  |
|  | Middleton, Rhode Island |  |  |  |
| 435000 | 4.000%, 02/01/31 Series 2021A | Aa1/NR/NR | 465250 |  |
|  | Narragansett, Rhode Island |  |  |  |
| 1025000 | 3.500%, 07/15/28 | Aa2/AA+/NR | 1028721 |  |
|  | North Kingstown, Rhode Island |  |  |  |
| 375000 | 3.000%, 04/15/24 Series A | Aa2/AA+/NR | 375338 |  |
| 1500000 | 3.500%, 04/01/37 Series 2021 A | NR/AA+/NR | 1401645 |  |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount** | **General Obligation Bonds (continued)** | **Ratings<br> Moody's, S&P<br> and Fitch** | **Value** |
|  | North Smithfield, Rhode Island |  |  |
| $825000 | 3.000%, 06/15/26 Series A | Aa2/NR/NR | $827096 |
| 1075000 | 3.500%, 05/15/34 | Aa2/NR/NR | 1076527 |
|  | Pawtucket, Rhode Island |  |  |
| 770000 | 4.000%, 11/01/25 AGMC Insured | A1/AA/A+ | 788087 |
| 890000 | 4.500%, 07/15/33 Series C AGMC Insured | A1/AA/NR | 975235 |
| 935000 | 4.500%, 07/15/34 Series C AGMC Insured | A1/AA/NR | 1021001 |
| 975000 | 4.500%, 07/15/35 Series C AGMC Insured | A1/AA/NR | 1046936 |
|  | Portsmouth, Rhode Island |  |  |
| 1140000 | 3.750%, 02/01/31 Series A | Aa2/AAA/NR | 1160360 |
|  | Providence, Rhode Island |  |  |
| 975000 | 3.625%, 01/15/29 Series A AGMC Insured | A1/AA/A | 975536 |
| 2010000 | 3.750%, 01/15/30 Series A AGMC Insured | A1/AA/A | 2011186 |
| 1000000 | 3.750%, 01/15/32 Series A AGMC Insured | A1/AA/A | 1000490 |
|  | Richmond, Rhode Island |  |  |
| 525000 | 3.000%, 08/01/24 | Aa3/NR/NR | 526759 |
|  | State of Rhode Island |  |  |
| 2000000 | 3.000%, 05/01/31 Series A | Aa2/AA/AA | 1971440 |
| 2500000 | 4.000%, 04/01/32 Series A | Aa2/AA/AA | 2611100 |
| 2000000 | 3.000%, 05/01/32 Series A | Aa2/AA/AA | 1961220 |
| 1500000 | 3.000%, 05/01/36 Series A | Aa2/AA/AA | 1371825 |
| 2000000 | 5.000%, 08/01/23 Series D | Aa2/AA/AA | 2023160 |
| 2000000 | 5.000%, 08/01/24 Series D | Aa2/AA/AA | 2067860 |
| 1500000 | 4.000%, 08/01/30 Series 2021C | Aa2/AA/AA | 1635015 |
| 1000000 | 4.000%, 08/01/33 Series 2021E | Aa2/AA/AA | 1055510 |
|  | Warren, Rhode Island |  |  |
| 1170000 | 4.000%, 02/15/33 Series 2018 A | Aa3/NR/NR | 1213641 |
|  | West Greenwich, Rhode Island |  |  |
| 1175000 | 3.000%, 08/15/26 | NR/AA+/NR | 1171240 |
|  | West Warwick, Rhode Island |  |  |
| 795000 | 5.000%, 10/01/32 Series A BAMI Insured | A3/AA/NR | 838272 |
|  | Westerly, Rhode Island |  |  |
| 345000 | 5.000%, 11/15/31 Series 2021 A | NR/AA/NR | 401439 |
|  | Total General Obligation Bonds |  | 54823381 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Amount** | **Revenue Bonds (69.2%)** | **Ratings<br> Moody's, S&P<br> and Fitch** | **Value** | **(a)** |
|  | Development (6.9%) |  |  |  |
|  | Providence, Rhode Island Public Building Authority (Capital Improvement Program Projects) |  |  |  |
| $3000000 | 4.000%, 09/15/34 Series A AGMC Insured | A1/AA/NR | $3107040 |  |
| 3500000 | 4.000%, 09/15/35 Series A AGMC Insured | A1/AA/NR | 3587010 |  |
|  | Providence, Rhode Island Redevelopment Agency Refunding Public Safety Building Project |  |  |  |
| 1680000 | 5.000%, 04/01/26 Series A AGMC Insured | A1/AA/NR | 1759884 |  |
|  | Rhode Island Infrastructure Bank Municipal Road and Bridge Revolving Fund |  |  |  |
| 935000 | 4.000%, 10/01/33 Series 2019 A | NR/AA/NR | 980432 |  |
| 845000 | 4.000%, 10/01/34 Series 2019 A | NR/AA/NR | 879451 |  |
| 1010000 | 4.000%, 10/01/35 Series 2019 A | NR/AA/NR | 1034634 |  |
|  | Rhode Island Infrastructure Bank Efficient Buildings Fund, Green Bonds |  |  |  |
| 1110000 | 4.000%, 10/01/29 Series 2018 A | NR/AA/NR | 1179797 |  |
| 1555000 | 3.000%, 10/01/37 Series 2020 A | NR/AA/NR | 1398303 |  |
|  | Total Development |  | 13926551 |  |
|  | Healthcare (3.5%) |  |  |  |
|  | Rhode Island Health & Education Building Corp., Hospital Financing, Lifespan Obligated Group |  |  |  |
| 875000 | 5.000%, 05/15/28 Series 2016 | NR/BBB+/BBB+ | 898529 |  |
| 1000000 | 5.000%, 05/15/31 Series 2016 | NR/BBB+/BBB+ | 1022470 |  |
| 1000000 | 5.000%, 05/15/33 Series 2016 | NR/BBB+/BBB+ | 1018920 |  |
| 1250000 | 5.000%, 05/15/34 Series 2016 | NR/BBB+/BBB+ | 1270625 |  |
| 1750000 | 5.000%, 05/15/39 Series 2016 | NR/BBB+/BBB+ | 1758173 |  |
|  | Rhode Island State & Providence Plantations Lease COP (Eleanor Slater Hospital Project) |  |  |  |
| 1000000 | 4.000%, 11/01/32 Series B | Aa3/AA-/AA- | 1064450 |  |
|  | Total Healthcare |  | 7033167 |  |
|  | Higher Education (6.0%) |  |  |  |
|  | Rhode Island Health and Education Building Corp., Higher Educational Facility |  |  |  |
| 2500000 | 5.000%, 09/15/30 Series 2010 A AGMC Insured | Aa3/NR/NR | 2503575 |  |
|  | Rhode Island Health and Educational Building Corp., Higher Education Facility, Brown University |  |  |  |
| 2000000 | 4.000%, 09/01/37 Series 2017 | Aa1/AA+/NR | 2016740 |  |
|  | Rhode Island Health and Educational Building Corp., Higher Education Facility, Providence College |  |  |  |
| 2490000 | 4.000%, 11/01/24 Series 2015 | A2/A/NR | 2538680 |  |
| 250000 | 4.000%, 11/01/37 Series 2021B | A2/A/NR | 248293 |  |
| 250000 | 4.000%, 11/01/38 Series 2021B | A2/A/NR | 246553 |  |
|  | Rhode Island Health and Educational Building Corp., Higher Education Facility, University of Rhode Island |  |  |  |
| 1000000 | 4.250%, 09/15/31 Series A | Aa3/A+/NR | 1058030 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Amount** | **Revenue Bonds (continued)** | **Ratings<br> Moody's, S&P<br> and Fitch** | **Value** | **(a)** |
|  | Higher Education (continued) |  |  |  |
|  | Rhode Island Health and Educational Building Corp., Higher Education Facility, University of Rhode Island Auxiliary Enterprise |  |  |  |
| $500000 | 4.000%, 09/15/31 Series 2016 B | A1/A+/NR | $510685 |  |
| 2000000 | 4.000%, 09/15/42 Series 2017 A | A1/A+/NR | 1912380 |  |
| 1000000 | 4.000%, 09/15/32 Series 2017 B | A1/A+/NR | 1024020 |  |
|  | Total Higher Education |  | 12058956 |  |
|  | Housing (5.8%) |  |  |  |
|  | Rhode Island Housing & Mortgage Finance Corp. Homeownership Opportunity |  |  |  |
| 155000 | 3.000%, 10/01/39 Series 71 | Aa1/AA+/NR | 136106 |  |
| 2000000 | 2.100%, 10/01/35 Series 73 A | Aa1/AA+/NR | 1588660 |  |
| 2000000 | 2.300%, 10/01/40 Series 73 A | Aa1/AA+/NR | 1455000 |  |
| 2000000 | 2.050%, 10/01/36 Series 75 A | Aa1/AA+/NR | 1513180 |  |
| 750000 | 2.350%, 10/01/36 Series 76 A | Aa1/AA+/NR | 590415 |  |
|  | Rhode Island Housing & Mortgage Finance Corp. Multi-Family Development Sustainability |  |  |  |
| 770000 | 2.750%, 10/01/34 Series 1-B | Aa2/NR/NR | 674620 |  |
| 1000000 | 3.100%, 10/01/44 Series 1-B | Aa2/NR/NR | 780360 |  |
|  | Rhode Island Housing & Mortgage Finance Corp. Multi-Family Development Sustainability |  |  |  |
| 1125000 | 0.450%\*\*, 10/01/40 Series 2021 1-A (Mandatory Tender Date 10/01/23) | Aa2/NR/NR | 1092319 |  |
|  | Rhode Island Housing & Mortgage Finance Corp. Multi-Family Housing |  |  |  |
| 355000 | 4.625%, 10/01/25 Series 2010 A | Aaa/NR/NR | 355387 |  |
| 365000 | 5.000%, 10/01/30 Series 2010 A | Aaa/NR/NR | 365796 |  |
| 1255000 | 3.450%, 10/01/36 Series 2016 1B | Aa2/NR/NR | 1171894 |  |
| 1000000 | 3.250%, 10/01/27 Series 1B | Aa2/NR/NR | 993410 |  |
| 1000000 | 3.400%, 10/01/29 Series 3B | Aa2/NR/NR | 1000970 |  |
|  | Total Housing |  | 11718117 |  |
|  | Public School (32.1%) |  |  |  |
|  | Rhode Island Health and Education Building Corp., Public Schools Financing Program |  |  |  |
| 795000 | 5.000%, 05/15/27 Series 2015 C | Aa2/NR/NR | 834973 |  |
|  | Rhode Island Health and Education Building Corp., Public School Financing Program, Town of Burrillville |  |  |  |
| 730000 | 5.000%, 05/15/35 Series 2022D | NR/AA/NR | 827411 |  |
|  | Rhode Island Health and Education Building Corp., Public School Financing Program, Chariho Regional School District |  |  |  |
| 1520000 | 4.000%, 05/15/31 Series 2017 J-2 B | Aa3/NR/NR | 1582350 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Amount** | **Revenue Bonds (continued)** | **Ratings<br> Moody's, S&P<br> and Fitch** | **Value** | **(a)** |
|  | Public School (continued) |  |  |  |
|  | Rhode Island Health and Education Building Corp., Public School Financing Program, Town of Coventry |  |  |  |
| $1000000 | 3.750%, 05/15/28 Series 2013 B AGMC Insured | Aa3/AA/NR | $1000610 |  |
| 1000000 | 4.000%, 05/15/33 AGMC Insured | Aa3/AA/NR | 1000660 |  |
|  | Rhode Island Health and Educational Building Corp., Public School Financing Program, City of Cranston |  |  |  |
| 1170000 | 4.000%, 05/15/30 Series 2015 B BAMI Insured | NR/AA/NR | 1206492 |  |
|  | Rhode Island Health and Education Building Corp., Public School Financing Program, City of East Providence |  |  |  |
| 1000000 | 3.625%, 05/15/32 Series B | Aa3/NR/NR | 1000350 |  |
| 2000000 | 4.000%, 05/15/37 Series 2021F | NR/AA/NR | 1997780 |  |
| 2000000 | 4.000%, 05/15/38 Series 2021F | NR/AA/NR | 1985320 |  |
|  | Rhode Island Health and Education Building Corp., Exeter-West Greenwich Regional School District |  |  |  |
| 1455000 | 3.500%, 05/15/37 Series 2021 G | Aa3/NR/NR | 1362171 |  |
| 1500000 | 4.000%, 05/15/41 Series 2021 G | Aa3/NR/NR | 1464045 |  |
|  | Rhode Island Health and Education Building Corp., Public School Financing Program, Town of Jamestown |  |  |  |
| 1020000 | 3.000%, 05/15/35 Series 2019 C | Aa1/NR/NR | 958025 |  |
|  | Rhode Island Health and Education Building Corp., Public School Financing Program, Town of Johnston |  |  |  |
| 1045000 | 5.000%, 05/15/34 Series 2022F | NR/AA/NR | 1200277 |  |
|  | Rhode Island Health and Education Building Corp., Public School Financing Program, Town of Lincoln |  |  |  |
| 3245000 | 5.000%, 05/15/33 Series 2020 B | Aa2/NR/AAA | 3682978 |  |
| 1000000 | 4.000%, 05/15/35 Series 2020 B | Aa2/NR/AAA | 1031760 |  |
|  | Rhode Island Health and Education Building Corp., Public School Financing Program, Town of Little Compton |  |  |  |
| 1620000 | 4.000%, 05/15/25 Series 2013 H | NR/AAA/NR | 1629299 |  |
|  | Rhode Island Health and Education Building Corp., Public School Financing Program, City of Newport |  |  |  |
| 2000000 | 4.000%, 05/15/36 Series 2022C | NR/AA+/NR | 2058860 |  |
|  | Rhode Island Health and Education Building Corp., Public School Financing Program, Town of North Kingston |  |  |  |
| 355000 | 3.000%, 05/15/33 Series 2021 A | NR/AA+/NR | 346998 |  |
| 415000 | 3.000%, 05/15/34 Series 2021 A | NR/AA+/NR | 405716 |  |
|  | Rhode Island Health and Education Building Corp., Public School Financing Program, Town of North Providence |  |  |  |
| 750000 | 5.000%, 05/15/31 Series 2017 G AGMC Insured | Aa3/AA/NR | 811725 |  |
| 500000 | 5.000%, 05/15/32 Series 2019 A AGMC Insured | Aa3/AA/NR | 560195 |  |
| 500000 | 5.000%, 05/15/33 Series 2019 A AGMC Insured | Aa3/AA/NR | 558840 |  |
| 500000 | 5.000%, 05/15/34 Series 2019 A AGMC Insured | Aa3/AA/NR | 557695 |  |
| 500000 | 4.000%, 05/15/37 Series 2019 A AGMC Insured | Aa3/AA/NR | 505205 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Amount** | **Revenue Bonds (continued)** | **Ratings<br> Moody's, S&P<br> and Fitch** | **Value** | **(a)** |
|  | Public School (continued) |  |  |  |
|  | Rhode Island Health and Education Building Corp., Public School Financing Program, City of Pawtucket |  |  |  |
| $1570000 | 4.000%, 05/15/26 Series 2014 C | Aa3/NR/NR | $1594257 |  |
| 1000000 | 4.250%, 05/15/29 Series 2017 E BAMI Insured | Aa3/AA/NR | 1060970 |  |
| 1045000 | 4.000%, 05/15/31 Series 2018 B | Aa3/NR/NR | 1096937 |  |
| 1090000 | 4.000%, 05/15/32 Series 2018 B | Aa3/NR/NR | 1136423 |  |
| 1000000 | 4.000%, 05/15/35 Series 2022A | Aa3/NR/NR | 1029410 |  |
| 1000000 | 4.000%, 05/15/36 Series 2022A | Aa3/NR/NR | 1002030 |  |
| 1000000 | 4.000%, 05/15/38 Series 2022A | Aa3/NR/NR | 987030 |  |
| 500000 | 4.000%, 05/15/42 Series 2022A | Aa3/NR/NR | 485450 |  |
| 2350000 | 3.000%, 05/15/39 Series 2019 B | Aa3/NR/NR | 1943450 |  |
|  | Rhode Island Health and Education Building Corp., Public School Financing Program, Town of Portsmouth |  |  |  |
| 500000 | 5.000%, 05/15/32 Series 2022E | NR/AAA/NR | 594885 |  |
|  | Rhode Island Health and Education Building Corp., Public School Financing Program, City of Providence |  |  |  |
| 1000000 | 4.000%, 05/15/37 Series 2021D BAMI Insured | Aa3/AA/NR | 1013470 |  |
|  | Rhode Island Health and Education Building Corp., Public School Financing Program, Town of Scituate |  |  |  |
| 1285000 | 4.500%, 05/15/33 Series 2018 A | NR/AA/NR | 1364400 |  |
|  | Rhode Island Health and Education Building Corp., Public School Financing Program, Town of Smithfield |  |  |  |
| 1000000 | 3.000%, 05/15/37 Series 2021H | NR/AA/NR | 869610 |  |
| 1000000 | 3.000%, 05/15/38 Series 2021H | NR/AA/NR | 847910 |  |
|  | Rhode Island Health and Education Building Corp., Public School Financing Program, Town of Tiverton |  |  |  |
| 1630000 | 5.000%, 05/15/27 Series 2015 D | A1/NR/NR | 1710049 |  |
|  | Rhode Island Health and Education Building Corp., Public School Financing Program, City of Warwick |  |  |  |
| 1000000 | 4.000%, 05/15/36 Series 2022B | NR/AA/NR | 1008260 |  |
|  | Rhode Island Health and Education Building Corp., Public School Financing Program, Town of Westerly |  |  |  |
| 500000 | 4.000%, 05/15/30 Series 2021E | NR/AA/NR | 531975 |  |
| 500000 | 4.000%, 05/15/31 Series 2021E | NR/AA/NR | 524110 |  |
|  | Rhode Island Health and Education Building Corp., Public School Financing Program, Pooled Issue |  |  |  |
| 445000 | 5.000%, 05/15/35 Series 2019 A AGMC Insured | Aa3/AA/NR | 493229 |  |
|  | Rhode Island Health and Education Building Corp., Public School Financing Program, Pooled Issue - Tiverton, Foster-Glocester, Cranston, East Greenwich |  |  |  |
| 3000000 | 4.000%, 05/15/28 Series A | Aa3/NR/NR | 3108840 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Amount** | **Revenue Bonds (continued)** | **Ratings<br> Moody's, S&P<br> and Fitch** | **Value** | **(a)** |
|  | Public School (continued) |  |  |  |
|  | Rhode Island Health and Education Building Corp., Public School Financing Program, Pooled Issue - Narragansett & Scituate |  |  |  |
| $1665000 | 4.250%, 05/15/28 Series 2017 B | Aa2/NR/NR | $1757158 |  |
|  | Rhode Island Health and Education Building Corp., Public School Financing Program, Providence Public Buildings Authority |  |  |  |
| 1500000 | 3.750%, 05/15/27 Series 2015 A AGMC Insured | Aa3/AA/NR | 1531590 |  |
| 1500000 | 4.000%, 05/15/28 Series 2015 A AGMC Insured | Aa3/AA/NR | 1542930 |  |
| 2000000 | 4.000%, 05/15/30 Series 2015 B AGMC Insured | Aa3/AA/NR | 2048060 |  |
|  | Rhode Island Health and Education Building Corp., Public School Financing Program, Providence Public Schools |  |  |  |
| 2000000 | 4.500%, 05/15/24 Series 2013 A | Aa3/NR/NR | 2009820 |  |
| 1000000 | 4.000%, 05/15/35 Series 2019 A AGMC Insured | Aa3/AA/NR | 1027910 |  |
|  | Rhode Island Health and Education Building Corp., Public School Financing Program, City of Warwick |  |  |  |
| 1000000 | 4.000%, 05/15/32 Series 2017 I | NR/AA/NR | 1035580 |  |
| 500000 | 4.000%, 05/15/35 Series 2019 D | NR/AA/NR | 512515 |  |
|  | Rhode Island Health and Education Building Corp., Public School Financing Program, City of Woonsocket |  |  |  |
| 500000 | 5.000%, 05/15/27 Series 2017 A AGMC Insured | Aa3/AA/NR | 547060 |  |
| 500000 | 5.000%, 05/15/28 Series 2017 A AGMC Insured | Aa3/AA/NR | 549975 |  |
| 500000 | 5.000%, 05/15/29 Series 2017 A AGMC Insured | Aa3/AA/NR | 542330 |  |
|  | Rhode Island Health and Education Building Corp., Public School Financing Program, Town of South Kingstown |  |  |  |
| 780000 | 3.500%, 05/15/34 Series 2020A | Aa1/NR/NR | 787839 |  |
|  | Total Public School |  | 64865197 |  |
|  | Secondary Education (1.2%) |  |  |  |
|  | Rhode Island Health and Educational Building Corp., Educational Institution, St. George's School |  |  |  |
| 600000 | 4.000%, 10/01/36 Series 2021 | NR/AA-/NR | 601968 |  |
| 600000 | 4.000%, 10/01/37 Series 2021 | NR/AA-/NR | 593280 |  |
| 1265000 | 4.000%, 10/01/38 Series 2021 | NR/AA-/NR | 1238890 |  |
|  | Total Secondary Education |  | 2434138 |  |
|  | Transportation (7.8%) |  |  |  |
|  | Rhode Island Commerce Corp., Airport |  |  |  |
| 635000 | 5.000%, 07/01/36 2016 Series D | Baa1/A-/BBB+ | 653301 |  |
| 1015000 | 5.000%, 07/01/37 2016 Series D | Baa1/A-/BBB+ | 1039086 |  |
|  | Rhode Island Commerce Corp., First Lien Special Facility Refunding Bonds (Rhode Island Airport Corporation Intermodal Facility Project) |  |  |  |
| 1425000 | 5.000%, 07/01/24 Series 2018 | Baa1/BBB+/NR | 1465299 |  |
| 1500000 | 5.000%, 07/01/30 Series 2018 | Baa1/BBB+/NR | 1624260 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Amount** | **Revenue Bonds (continued)** | **Ratings<br> Moody's, S&P<br> and Fitch** | **Value** | **(a)** |
|  | Transportation (continued) |  |  |  |
|  | Rhode Island Commerce Corp., Grant Anticipation Refunding Bonds (Rhode Island Department of Transportation) |  |  |  |
| $1850000 | 4.000%, 06/15/24 Series 2016 A | A2/AA-/NR | $1876178 |  |
| 1000000 | 5.000%, 06/15/31 Series 2016 B | A2/AA-/NR | 1066950 |  |
|  | Rhode Island State Economic Development Corp., Airport |  |  |  |
| 1000000 | 5.000%, 07/01/24 Series B | Baa1/A-/BBB+ | 1009700 |  |
| 2000000 | 4.000%, 07/01/24 Series B | Baa1/A-/BBB+ | 2009720 |  |
|  | Rhode Island State Turnpike & Bridge Authority, Motor Fuel Tax |  |  |  |
| 1240000 | 4.000%, 10/01/27 Series 2016 A | NR/A+/A | 1279717 |  |
| 1500000 | 4.000%, 10/01/34 Series 2016 A | NR/A+/A | 1522845 |  |
| 1000000 | 4.000%, 10/01/36 Series 2016 A | NR/A+/A | 1002960 |  |
| 300000 | 4.000%, 10/01/33 Series 2019 A | NR/A+/A | 310059 |  |
| 300000 | 4.000%, 10/01/34 Series 2019 A | NR/A+/A | 308427 |  |
| 495000 | 4.000%, 10/01/35 Series 2019 A | NR/A+/A | 505984 |  |
|  | Total Transportation |  | 15674486 |  |
|  | Water and Sewer (4.8%) |  |  |  |
|  | Narragansett, Rhode Island Bay Commission Wastewater System |  |  |  |
| 3145000 | 4.000%, 02/01/28 Series A | NR/AA-/NR | 3226581 |  |
|  | Rhode Island Clean Water Protection Finance Agency Safe Drinking Water Revolving Fund |  |  |  |
| 1085000 | 3.500%, 10/01/25 | NR/AAA/AAA | 1097640 |  |
|  | Rhode Island Infrastructure Bank Water, City of Pawtucket |  |  |  |
| 1730000 | 5.000%, 10/01/28 Series 2015 NPFG Insured | Baa2/A+/NR | 1796346 |  |
|  | Rhode Island Infrastructure Bank Water, Pollution Control |  |  |  |
| 2575000 | 4.000%, 10/01/29 Series A | NR/AAA/AAA | 2669580 |  |
| 500000 | 4.000%, 10/01/32 Series A | NR/AAA/AAA | 521760 |  |
|  | Rhode Island Infrastructure Bank Water, Safe Drinking Water |  |  |  |
| 500000 | 3.000%, 10/01/31 Series A | NR/AAA/AAA | 500655 |  |
|  | Total Water and Sewer |  | 9812562 |  |
|  | **Other Revenue (1.1%)** |  |  |  |
|  | Providence, Rhode Island Public Building Authority (Capital Improvement Program Projects) |  |  |  |
| 2000000 | 5.000%, 09/15/31 Series A AGMC Insured | A1/AA/NR | 2165080 |  |
|  | Total Revenue Bonds |  | 139688254 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Amount** | **Pre-Refunded Bonds (1.8%)††** | **Ratings<br> Moody's, S&P<br> and Fitch** | **Value** | **(a)** |
|  | Pre-Refunded General Obligation Bonds (1.3%) |  |  |  |
|  | Rhode Island State & Providence Plantations Consolidated Capital Development Loan |  |  |  |
| $1110000 | 4.250%, 10/15/25 Series A | Aa2/AA/AA | $1121833 |  |
| 1500000 | 5.000%, 11/01/34 Series B | Aa2/AA/AA | 1561515 |  |
|  | Total Pre-Refunded General Obligation Bonds |  | 2683348 |  |
|  | Pre-Refunded Revenue Bonds (0.5%) |  |  |  |
|  | Higher Education (0.5%) |  |  |  |
|  | Rhode Island Health and Educational Building Corp., Higher Education Facility, Bryant University |  |  |  |
| 1000000 | 5.000%, 06/01/32 Series 2014 | A2/NR/NR | 1030150 |  |
|  | Total Pre-Refunded Revenue Bonds |  | 3713498 |  |
|  | Total Municipal Bonds (cost $208,926,594) |  | 198225133 |  |
| **Shares** | **Short-Term Investment (1.1%)** |  |  |  |
| 2237149 | Dreyfus Treasury Obligations Cash Management - <br> Institutional Shares, 4.17%\* (cost $2,237,149) | Aaa-mf/AAAm/NR | 2237149 |  |
|  | Total Investments <br> (cost $211,163,743-note b) | 99.3% | 200462282 |  |
|  | Other assets less liabilities | 0.7 | 1468185 |  |
|  | Net Assets | 100.0% | $201930467 |  |
|  |  | **Percent of** |  |  |
|  | **Portfolio Distribution By Quality Rating** | **Investments<sup>†</sup>** |  |  |
|  | Aaa of Moody's or AAA of S&P or Fitch | 8.8% |  |  |
|  | Pre-refunded bonds\ ETM bonds†† | 1.9 |  |  |
|  | Aa of Moody's or AA of S&P or Fitch | 74.8 |  |  |
|  | A of Moody's or S&P or Fitch | 9.9 |  |  |
|  | Baa of Moody's or BBB of S&P or Fitch | 4.6 |  |  |
|  |  | 100.0% |  |  |

---

---

| |
|:---|
| **PORTFOLIO ABBREVIATIONS:** |
| AGMC - Assured Guaranty Municipal Corp. |
| BAMI - Build America Mutual Insurance |
| COP - Certificates of Participation |
| NPFG - National Public Finance Guarantee |
| NR - Not Rated |

---

---

| | |
|:---|:---|
| \* | The rate is an annualized seven-day yield at period end. |
| \*\* | Variable rate. |
| † | Where applicable, calculated using the highest rating of the three NRSRO. Percentages in this table do not include the Short-Term Investment. |
| †† | Pre-refunded bonds are bonds for which U.S. Government Obligations usually have been placed in escrow to retire the bonds at their earliest call date. |

---

See accompanying notes to financial statements.

**AQUILA NARRAGANSETT TAX-FREE INCOME FUND**

NOTES TO FINANCIAL STATEMENTS

**December 31, 2022**

(unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Securities valuation policies and other investment related disclosures are hereby incorporated by reference
in the annual and semi-annual reports previously filed with the Securities and Exchange Commission on Form N-CSR.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) At December 31, 2022, the net unrealized depreciation on investments, based on cost for federal income
tax purposes of $211,163,743 amounted to $10,701,461, which consisted of aggregate gross unrealized appreciation of $455,729 and aggregate
gross unrealized depreciation of $11,157,190.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Fair Value Measurements: The Fund follows a fair value hierarchy that distinguishes between market data
obtained from independent sources (observable inputs) and the Fund's own market assumptions (unobservable inputs). These inputs
are used in determining the value of the Fund's investments and are summarized in the following fair value hierarchy:

---

| | |
|:---|:---|
| &nbsp;&nbsp;Level 1 – | &nbsp;&nbsp;Unadjusted quoted prices in inactive markets for identical assets or liabilities that the Fund has the ability to access. |
| &nbsp;&nbsp;Level 2 – | &nbsp;&nbsp;Observable inputs other than quoted prices included in level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data. |
| &nbsp;&nbsp;Level 3 – | &nbsp;&nbsp;Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available. |

---

The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

The following is a summary of the valuation inputs, representing 100% of the Fund's investments, used to value the Fund's net assets as of December 31, 2022:

---

| | |
|:---|:---|
| **Valuation Inputs**+ | **Investments in<br> Securities** |
| Level 1 – Quoted Prices- Short-Term Investment | $2237149 |
| Level 2 – Other Significant Observable Inputs - Municipal Bonds | 198225133 |
| Level 3 – Significant Unobservable Inputs |  |
| Total | $200462282 |

---

+ See schedule of investments for a detailed listing of securities.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Aquila Municipal Trust

- **b. Investment Company Act file number:** 811-04503

- **c. CIK number of Registrant:** 0000784056

- **d. LEI of Registrant:** 5493000LE8UHAHYCT855

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

  - **Street Address 1:** 120 West 45th Street

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10036

  - **Telephone number:** 212-697-6666

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

- **a. Name of Series:** Aquila Narragansett Tax-Free Income Fund

- **b. EDGAR series identifier (if any):** S000041642

- **c. LEI of Series:** 5493007YBZ70STJN6X41

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

- **a. Date of fiscal year-end:** 2023-03-31

- **b. Date as of which information is reported:** 2022-12-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $203269063.36

**Total Liabilities:** $1463740.05

**Net Assets:** $201805323.31

**Cash Not Reported:** $1227919.91

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 470.51469000 | **1-Year:** 9827.36062000 | **5-Year:** 35237.96781000 | **10-Year:** 56813.89566000 | **30-Year:** 2258.45691000

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000129279 | -0.62%               | 4.05%                | 0.12%                |
| Class ID C000129280 | -0.66%               | 4.11%                | 0.19%                |
| Class ID C000129281 | -0.54%               | 4.03%                | 0.31%                |
| Class ID C000188815 | -0.53%               | 4.04%                | 0.21%                |
| Class ID C000129282 | -0.55%               | 4.12%                | 0.20%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-327724.98              | $-1298022.54                               |
| Month 2  | $-508729.85              | $8704256.19                                |
| Month 3  | $-820585.62              | $944854.39                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| PROVIDENCE RI                                     | City of Providence RI                                                   | CUSIP: 743787W90<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000490.00   | 0.50%             | 2032-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| NORTH KINGSTOWN RI                                | Town of North Kingstown RI                                              | CUSIP: 660325XJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $375337.50    | 0.19%             | 2024-04-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| W GREENWICH RI                                    | Town of West Greenwich RI                                               | CUSIP: 953019BG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1171240.00   | 0.58%             | 2026-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PROVIDENCE RI PUBLIC BLDGS AUT                    | Providence Public Building Authority                                    | CUSIP: 74381MCN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3107040.00   | 1.54%             | 2034-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CRANSTON RI                                       | City of Cranston RI                                                     | CUSIP: 224562JQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $481650.00    | 0.24%             | 2036-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH KINGSTOWN RI                                | Town of North Kingstown RI                                              | CUSIP: 660325A50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1401645.00   | 0.69%             | 2037-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND COMMERCE CORP REV                    | Rhode Island Commerce Corp                                              | CUSIP: 762232AG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1850000 | PA      | $1876177.50   | 0.93%             | 2024-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HSG & MTGE FIN                    | Rhode Island Housing & Mortgage Finance Corp                            | CUSIP: 76221RST1<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $993410.00    | 0.49%             | 2027-10-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST & PROVIDENCE P                    | State of Rhode Island                                                   | CUSIP: 76222RTX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1961220.00   | 0.97%             | 2032-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| JOHNSTON RI                                       | Town of Johnston RI                                                     | CUSIP: 479412RF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1020000 | PA      | $1016532.00   | 0.50%             | 2033-06-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND INFRASTRUCTURE BA                    | Rhode Island Infrastructure Bank                                        | CUSIP: 76222HAD6<br>LEI: 54930022Z6KOPRSQCG49 | Long             | DBT              | MUN               | US        |   1730000 | PA      | $1796345.50   | 0.89%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CRANSTON RI                                       | City of Cranston RI                                                     | CUSIP: 224562FP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1038270.00   | 0.51%             | 2025-07-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PROVIDENCE RI PUBLIC BLDGS AUT                    | Providence Public Building Authority                                    | CUSIP: 74381MAW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2165080.00   | 1.07%             | 2031-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PROVIDENCE RI                                     | City of Providence RI                                                   | CUSIP: 743787W66<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    975000 | PA      | $975536.25    | 0.48%             | 2029-01-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196C50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1985320.00   | 0.98%             | 2038-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196L35<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $485450.00    | 0.24%             | 2042-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762244FF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $898528.75    | 0.45%             | 2028-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST & PROVIDENCE P                    | State of Rhode Island                                                   | CUSIP: 76222RTW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1971440.00   | 0.98%             | 2031-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762195DN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1265000 | PA      | $1238890.40   | 0.61%             | 2038-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COVENTRY RI                                       | Town of Coventry RI                                                     | CUSIP: 222885MU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1605000 | PA      | $1628673.75   | 0.81%             | 2027-03-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HSG & MTGE FIN                    | Rhode Island Housing & Mortgage Finance Corp                            | CUSIP: 76221TEE5<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000970.00   | 0.50%             | 2029-10-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HSG & MTGE FIN                    | Rhode Island Housing & Mortgage Finance Corp                            | CUSIP: 76221RG98<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1588660.00   | 0.79%             | 2035-10-01      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST & PROVIDENCE P                    | State of Rhode Island                                                   | CUSIP: 76222RWK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2611100.00   | 1.29%             | 2032-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MIDDLETOWN RI                                     | Town of Middletown RI                                                   | CUSIP: 597222SA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    435000 | PA      | $465249.90    | 0.23%             | 2031-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST & PROVIDENCE P                    | State of Rhode Island                                                   | CUSIP: 76222RRQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2023160.00   | 1.00%             | 2023-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PAWTUCKET RI                                      | City of Pawtucket RI                                                    | CUSIP: 7041653J6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    935000 | PA      | $1021001.30   | 0.51%             | 2034-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NORTH SMITHFIELD RI                               | Town of North Smithfield RI                                             | CUSIP: 662531HW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $827095.50    | 0.41%             | 2026-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196K44<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1029410.00   | 0.51%             | 2035-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WEST WARWICK RI                                   | Town of West Warwick RI                                                 | CUSIP: 956789WC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    795000 | PA      | $838271.85    | 0.42%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762197WK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1024020.00   | 0.51%             | 2032-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PROVIDENCE RI REDEV AGY REVENU                    | Providence Redevelopment Agency                                         | CUSIP: 743940CX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1680000 | PA      | $1759884.00   | 0.87%             | 2026-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BARRINGTON RI                                     | Town of Barrington RI                                                   | CUSIP: 068635SC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    840000 | PA      | $824098.80    | 0.41%             | 2025-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HSG & MTGE FIN                    | Rhode Island Housing & Mortgage Finance Corp                            | CUSIP: 76221RE74<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |    155000 | PA      | $136105.50    | 0.07%             | 2039-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196F40<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1455000 | PA      | $1362171.00   | 0.67%             | 2037-05-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CRANSTON RI                                       | City of Cranston RI                                                     | CUSIP: 224562JP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $471339.05    | 0.23%             | 2035-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762195DM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $593280.00    | 0.29%             | 2037-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196RZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $558840.00    | 0.28%             | 2033-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST & PROVIDENCE P                    | State of Rhode Island                                                   | CUSIP: 76222RQT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1561515.00   | 0.77%             | 2034-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762244CY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1630000 | PA      | $1710049.30   | 0.85%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196K77<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $987030.00    | 0.49%             | 2038-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WESTERLY RI                                       | Town of Westerly RI                                                     | CUSIP: 957569ZH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    345000 | PA      | $401438.55    | 0.20%             | 2031-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JOHNSTON RI                                       | Town of Johnston RI                                                     | CUSIP: 479412RE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1020000 | PA      | $1020326.40   | 0.51%             | 2029-06-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| PAWTUCKET RI                                      | City of Pawtucket RI                                                    | CUSIP: 7041653H0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    890000 | PA      | $975235.30    | 0.48%             | 2033-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PROVIDENCE RI                                     | City of Providence RI                                                   | CUSIP: 743787W74<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2010000 | PA      | $2011185.90   | 1.00%             | 2030-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196ZZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1013470.00   | 0.50%             | 2037-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PAWTUCKET RI                                      | City of Pawtucket RI                                                    | CUSIP: 7041653K3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    975000 | PA      | $1046935.50   | 0.52%             | 2035-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 7622435L3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000660.00   | 0.50%             | 2033-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HSG & MTGE FIN                    | Rhode Island Housing & Mortgage Finance Corp                            | CUSIP: 76221RKZ5<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |    355000 | PA      | $355386.95    | 0.18%             | 2025-10-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196PX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $811725.00    | 0.40%             | 2031-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND INFRASTRUCTURE BA                    | Rhode Island Infrastructure Bank                                        | CUSIP: 76223LAS3<br>LEI: 54930022Z6KOPRSQCG49 | Long             | DBT              | MUN               | US        |   1010000 | PA      | $1034633.90   | 0.51%             | 2035-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CRANSTON RI                                       | City of Cranston RI                                                     | CUSIP: 224562FN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1515000 | PA      | $1548375.45   | 0.77%             | 2024-07-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196JN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $547060.00    | 0.27%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HSG & MTGE FIN                    | Rhode Island Housing & Mortgage Finance Corp                            | CUSIP: 76221RR39<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1513180.00   | 0.75%             | 2036-10-01      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762197G62<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $248292.50    | 0.12%             | 2037-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762244FL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1018920.00   | 0.50%             | 2033-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST ECON DEV CORP                     | Rhode Island Commerce Corp                                              | CUSIP: 76223PJF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2009720.00   | 1.00%             | 2024-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST TURNPIKE & BRI                    | Rhode Island Turnpike & Bridge Authority                                | CUSIP: 762322BN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $310059.00    | 0.15%             | 2033-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HSG & MTGE FIN                    | Rhode Island Housing & Mortgage Finance Corp                            | CUSIP: 76221RV42<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |    750000 | PA      | $590415.00    | 0.29%             | 2036-10-01      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196UN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $512515.00    | 0.25%             | 2035-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND INFRASTRUCTURE BA                    | Rhode Island Infrastructure Bank                                        | CUSIP: 76222FAQ1<br>LEI: 54930022Z6KOPRSQCG49 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500655.00    | 0.25%             | 2031-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 7622435K5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000610.00   | 0.50%             | 2028-05-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND RI                                     | Town of Cumberland RI                                                   | CUSIP: 230777J62<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $757631.00    | 0.38%             | 2032-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST & PROVIDENCE P                    | State of Rhode Island                                                   | CUSIP: 76222RF23<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1635015.00   | 0.81%             | 2030-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196T78<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $594885.00    | 0.29%             | 2032-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 7622435X7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2009820.00   | 1.00%             | 2024-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196RH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1285000 | PA      | $1364400.15   | 0.68%             | 2033-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196RY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $560195.00    | 0.28%             | 2032-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196P98<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2058860.00   | 1.02%             | 2036-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762244ER8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3108840.00   | 1.54%             | 2028-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196C43<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1997780.00   | 0.99%             | 2037-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196F57<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1464045.00   | 0.73%             | 2041-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST TURNPIKE & BRI                    | Rhode Island Turnpike & Bridge Authority                                | CUSIP: 762322BP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $308427.00    | 0.15%             | 2034-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH SMITHFIELD RI                               | Town of North Smithfield RI                                             | CUSIP: 662531JZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1075000 | PA      | $1076526.50   | 0.53%             | 2034-05-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST & PROVIDENCE P                    | State of Rhode Island                                                   | CUSIP: 76222RNG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1110000 | PA      | $1121832.60   | 0.56%             | 2025-10-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196M91<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1008260.00   | 0.50%             | 2036-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762244AJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1570000 | PA      | $1594256.50   | 0.79%             | 2026-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762244BP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1170000 | PA      | $1206492.30   | 0.60%             | 2030-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LINCOLN RI                                        | Town of Lincoln RI                                                      | CUSIP: 534697VE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1512720.00   | 0.75%             | 2024-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196S79<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    730000 | PA      | $827411.20    | 0.41%             | 2035-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CRANSTON RI                                       | City of Cranston RI                                                     | CUSIP: 224562HH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    615000 | PA      | $641162.10    | 0.32%             | 2035-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196XZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    355000 | PA      | $346998.30    | 0.17%             | 2033-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196SA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $557695.00    | 0.28%             | 2034-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 7622438S5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1090000 | PA      | $1136423.10   | 0.56%             | 2032-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST & PROVIDENCE P                    | State of Rhode Island                                                   | CUSIP: 76222WNE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1064450.00   | 0.53%             | 2032-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 7622437D9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1620000 | PA      | $1629298.80   | 0.81%             | 2025-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196W33<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1045000 | PA      | $1200276.55   | 0.59%             | 2034-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196SY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1027910.00   | 0.51%             | 2035-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST                                   | State of Rhode Island                                                   | CUSIP: 762223LV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1055510.00   | 0.52%             | 2033-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BRISTOL RI                                        | Town of Bristol RI                                                      | CUSIP: 110169B99<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    865000 | PA      | $876262.30    | 0.43%             | 2031-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196JQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $542330.00    | 0.27%             | 2029-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST INFRASTRUCTURE                    | Rhode Island Infrastructure Bank Water Pollution Control Revolving Fund | CUSIP: 76221UFS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $521760.00    | 0.26%             | 2032-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196D91<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $531975.00    | 0.26%             | 2030-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST COMMERCE CORP                     | Rhode Island Commerce Corp                                              | CUSIP: 76218NAL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    635000 | PA      | $653300.70    | 0.32%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CRANSTON RI                                       | City of Cranston RI                                                     | CUSIP: 224562FY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1325000 | PA      | $1383737.25   | 0.69%             | 2028-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BRISTOL RI                                        | Town of Bristol RI                                                      | CUSIP: 110169J26<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1900000 | PA      | $1648877.00   | 0.82%             | 2038-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196SD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $505205.00    | 0.25%             | 2037-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 7622434Z3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000350.00   | 0.50%             | 2032-05-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HSG & MTGE FIN                    | Rhode Island Housing & Mortgage Finance Corp                            | CUSIP: 76221RLA9<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |    365000 | PA      | $365795.70    | 0.18%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196H63<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $847910.00    | 0.42%             | 2038-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND INFRASTRUCTURE BA                    | Rhode Island Infrastructure Bank                                        | CUSIP: 76223KBG0<br>LEI: 54930022Z6KOPRSQCG49 | Long             | DBT              | MUN               | US        |   1555000 | PA      | $1398302.65   | 0.69%             | 2037-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| RICHMOND RI                                       | Town of Richmond RI                                                     | CUSIP: 765332DC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $526758.75    | 0.26%             | 2024-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196MV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1060970.00   | 0.53%             | 2029-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HSG & MTGE FIN                    | Rhode Island Housing & Mortgage Finance Corp                            | CUSIP: 76221TLA5<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $780360.00    | 0.39%             | 2044-10-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| HOPKINTON RI                                      | Town of Hopkinton RI                                                    | CUSIP: 440218AW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $450414.00    | 0.22%             | 2031-08-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND RI                                     | Town of Cumberland RI                                                   | CUSIP: 230777ZT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500705.00    | 0.25%             | 2031-11-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762197ZE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1058030.00   | 0.52%             | 2031-09-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST CLEAN WTR FIN                     | Rhode Island Infrastructure Bank                                        | CUSIP: 76218RJC3<br>LEI: 54930022Z6KOPRSQCG49 | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1097640.25   | 0.54%             | 2025-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196VT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3245000 | PA      | $3682977.65   | 1.83%             | 2033-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND COMMERCE CORP SPL                    | Rhode Island Commerce Corp                                              | CUSIP: 76219DAM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1624260.00   | 0.80%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST TURNPIKE & BRI                    | Rhode Island Turnpike & Bridge Authority                                | CUSIP: 762322AU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1522845.00   | 0.75%             | 2034-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST TURNPIKE & BRI                    | Rhode Island Turnpike & Bridge Authority                                | CUSIP: 762322BQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    495000 | PA      | $505984.05    | 0.25%             | 2035-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762195DL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $601968.00    | 0.30%             | 2036-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762197TM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $510685.00    | 0.25%             | 2031-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HSG & MTGE FIN                    | Rhode Island Housing & Mortgage Finance Corp                            | CUSIP: 76221TFW4<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |   1255000 | PA      | $1171893.90   | 0.58%             | 2036-10-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762244KC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1520000 | PA      | $1582350.40   | 0.78%             | 2031-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND INFRASTRUCTURE BA                    | Rhode Island Infrastructure Bank                                        | CUSIP: 76223LAR5<br>LEI: 54930022Z6KOPRSQCG49 | Long             | DBT              | MUN               | US        |    845000 | PA      | $879450.65    | 0.44%             | 2034-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762197QW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1030150.00   | 0.51%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196JP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $549975.00    | 0.27%             | 2028-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND COMMERCE CORP SPL                    | Rhode Island Commerce Corp                                              | CUSIP: 76219DAF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1425000 | PA      | $1465299.00   | 0.73%             | 2024-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196FC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1531590.00   | 0.76%             | 2027-05-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196KG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1665000 | PA      | $1757157.75   | 0.87%             | 2028-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND INFRASTRUCTURE BA                    | Rhode Island Infrastructure Bank                                        | CUSIP: 76223KAL0<br>LEI: 54930022Z6KOPRSQCG49 | Long             | DBT              | MUN               | US        |   1110000 | PA      | $1179796.80   | 0.58%             | 2029-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LINCOLN RI                                        | Town of Lincoln RI                                                      | CUSIP: 534697VF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2225000 | PA      | $2262001.75   | 1.12%             | 2025-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196E25<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $524110.00    | 0.26%             | 2031-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST ECON DEV CORP                     | Rhode Island Commerce Corp                                              | CUSIP: 76223PJA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009700.00   | 0.50%             | 2024-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196K51<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002030.00   | 0.50%             | 2036-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST & PROVIDENCE P                    | State of Rhode Island                                                   | CUSIP: 76222RRR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2067860.00   | 1.02%             | 2024-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST & PROVIDENCE P                    | State of Rhode Island                                                   | CUSIP: 76222RXU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1371825.00   | 0.68%             | 2036-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CRANSTON RI                                       | City of Cranston RI                                                     | CUSIP: 224562HG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1053480.00   | 0.52%             | 2033-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762244CD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    795000 | PA      | $834972.60    | 0.41%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PROVIDENCE RI PUBLIC BLDGS AUT                    | Providence Public Building Authority                                    | CUSIP: 74381MCP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3587010.00   | 1.78%             | 2035-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762197RM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2490000 | PA      | $2538679.50   | 1.26%             | 2024-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND RI                                     | Town of Cumberland RI                                                   | CUSIP: 230777ZS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500585.00    | 0.25%             | 2027-11-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762244FP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1758172.50   | 0.87%             | 2039-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST COMMERCE CORP                     | Rhode Island Commerce Corp                                              | CUSIP: 76218NAM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1015000 | PA      | $1039085.95   | 0.51%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762244KY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2350000 | PA      | $1943450.00   | 0.96%             | 2039-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WARREN RI                                         | Town of Warren RI                                                       | CUSIP: 935647TD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1170000 | PA      | $1213641.00   | 0.60%             | 2033-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762244FJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1022470.00   | 0.51%             | 2031-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196FD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1542930.00   | 0.76%             | 2028-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196VD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    780000 | PA      | $787839.00    | 0.39%             | 2034-05-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196VV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031760.00   | 0.51%             | 2035-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Dreyfus Treasury Obligations Cash Management Fund | Dreyfus Treasury Obligations Cash Management Fund                       | CUSIP: 261908107<br>LEI: 549300MKKM9KT7BF6329 | Long             | STIV             | RF                | US        |   1009229 | NS      | $1009228.95   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 7622438R7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1045000 | PA      | $1096936.50   | 0.54%             | 2031-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HSG & MTGE FIN                    | Rhode Island Housing & Mortgage Finance Corp                            | CUSIP: 76221RH22<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1455000.00   | 0.72%             | 2040-10-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196TS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1020000 | PA      | $958024.80    | 0.47%             | 2035-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762197G70<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $246552.50    | 0.12%             | 2038-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NARRAGANSETT BAY RI COMMISSION                    | Narragansett Bay Commission                                             | CUSIP: 631060BX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3145000 | PA      | $3226581.30   | 1.60%             | 2028-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND COMMERCE CORP REV                    | Rhode Island Commerce Corp                                              | CUSIP: 762232AR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1066950.00   | 0.53%             | 2031-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PAWTUCKET RI                                      | City of Pawtucket RI                                                    | CUSIP: 704165X20<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    770000 | PA      | $788087.30    | 0.39%             | 2025-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST INFRASTRUCTURE                    | Rhode Island Infrastructure Bank Water Pollution Control Revolving Fund | CUSIP: 76221UCH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2575000 | PA      | $2669579.75   | 1.32%             | 2029-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HSG & MTGE FIN                    | Rhode Island Housing & Mortgage Finance Corp                            | CUSIP: 76221TKY4<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |    770000 | PA      | $674620.10    | 0.33%             | 2034-10-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196YA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $405716.45    | 0.20%             | 2034-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CRANSTON RI                                       | City of Cranston RI                                                     | CUSIP: 224562JN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    860000 | PA      | $896335.00    | 0.44%             | 2034-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND INFRASTRUCTURE BA                    | Rhode Island Infrastructure Bank                                        | CUSIP: 76223LAQ7<br>LEI: 54930022Z6KOPRSQCG49 | Long             | DBT              | MUN               | US        |    935000 | PA      | $980431.65    | 0.49%             | 2033-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762244JD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1035580.00   | 0.51%             | 2032-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762197VF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2016740.00   | 1.00%             | 2037-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762197VW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1912380.00   | 0.95%             | 2042-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PORTSMOUTH RI                                     | Town of Portsmouth RI                                                   | CUSIP: 737186QN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1140000 | PA      | $1160360.40   | 0.57%             | 2031-02-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| NARRAGANSETT RI                                   | Town of Narragansett RI                                                 | CUSIP: 631056QK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1025000 | PA      | $1028720.75   | 0.51%             | 2028-07-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762244FM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1270625.00   | 0.63%             | 2034-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CRANSTON RI                                       | City of Cranston RI                                                     | CUSIP: 224562GN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1170000 | PA      | $1308317.40   | 0.65%             | 2032-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762197EK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2503575.00   | 1.24%             | 2030-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST TURNPIKE & BRI                    | Rhode Island Turnpike & Bridge Authority                                | CUSIP: 762322AW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002960.00   | 0.50%             | 2036-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST TURNPIKE & BRI                    | Rhode Island Turnpike & Bridge Authority                                | CUSIP: 762322AM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1240000 | PA      | $1279717.20   | 0.63%             | 2027-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196H55<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $869610.00    | 0.43%             | 2037-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196FQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2048060.00   | 1.01%             | 2030-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL                    | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196SB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $493229.10    | 0.24%             | 2035-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HSG & MTGE FIN                    | Rhode Island Housing & Mortgage Finance Corp                            | CUSIP: 76221TPD5<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1092318.75   | 0.54%             | 2040-10-01      | Variable      | 0.45%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-22

**Name of Applicant:** Aquila Municipal Trust

**Signature:** Joseph DiMaggio

**Name of Signer:** Joseph DiMaggio

**Title:** Chief Financial Officer & Treasurer