# EDGAR Filing Document

**Accession Number:** 0001511699
**File Stem:** 0001145549-23-004690
**Filing Date:** 2023-1
**Character Count:** 127093
**Document Hash:** 7338b19bdd88c716b2adeaa6cf64fd9f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-004690.hdr.sgml**: 20230130

**ACCESSION NUMBER**: 0001145549-23-004690

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230130

**DATE AS OF CHANGE**: 20230130

**PERIOD START**: 20230831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Managed Portfolio Series
- **CENTRAL INDEX KEY:** 0001511699
- **IRS NUMBER:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22525
- **FILM NUMBER:** 23569098

**BUSINESS ADDRESS:**
- **STREET 1:** 615 EAST MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 414-287-3700

**MAIL ADDRESS:**
- **STREET 1:** 615 EAST MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

## Series and Classes Contracts Data

### Principal Street High Income Municipal Fund (Series ID: S000058558)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000192453 | Institutional Class | GSTAX           |
| C000192454 | Investor Class      | GSTEX           |
| C000235452 | A Class             | GSTFX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Principal Street High Income Municipal Fund** | **Principal Street High Income Municipal Fund** | |
| **Schedule of Investments** | **Schedule of Investments** | |
| **November 30, 2022 (Unaudited)** | **November 30, 2022 (Unaudited)** | |
| **Description** | **Par** | **Value** |
| **MUNICIPAL BONDS - 101.2%** | | |
| **ARIZONA - 4.0%** | | |
| Arizona Industrial Development Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Empower College Prep) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 07/01/2049 | $1000000 | $974045 |
| Arizona Industrial Development Authority, Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Legacy Cares, Inc.) (b) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 07/01/2050 | 1600000 | 1120000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 07/01/2051 | 540000 | 378000 |
| Arizona Industrial Development Authority, Series C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Legacy Cares, Inc.) (b) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 07/01/2030 | 2000000 | 1400000 |
| La Paz County Industrial Development Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Imperial Valley Gateway Center) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 12/01/2040 | 1535000 | 856157 |
| Maricopa County Industrial Development Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Christian Care Surprise) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 01/01/2048 | 1595000 | 1128825 |
| Pima Country Industrial Development Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: La Posada Park Centre) (f) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 05/15/2031 | 2000000 | 2010249 |
| Sierra Vista Industrial Development Authority, Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Georgetown Community Development Authority) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 10/01/2056 (c) (e) (f) | 1000000 | 779362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 10/01/2056 (e) (f) | 2200000 | 1360847 |
| Sierra Vista Industrial Development Authority, Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Georgetown Community Development Authority) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 10/01/2036 | 1500000 | 1219559 |
|  |  | **11227044** |
| **CALIFORNIA - 2.0%** |  |  |
| California Pollution Control Financing Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: CalPlant I) (a) (b) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 07/01/2032 | 1000000 | 500000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 07/01/2032 | 5065000 | 2937700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 07/01/2039 | 3845000 | 1922500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 12/01/2039 | 2500000 | 125000 |
|  |  | **5485200** |
| **COLORADO - 7.0%** |  |  |
| Aurora Highlands Community Authority Board |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 12/01/2051 | 4000000 | 3560894 |
| Banning Lewis Ranch Metropolitan District No 8 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 12/01/2051 | 2500000 | 1895892 |
| Canyon Pines Metropolitan District, Series A-1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 12/01/2051 | 2000000 | 1675374 |
| Cascade Ridge Metropolitan District |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/2051 | 1000000 | 812112 |
| Cherry Creek South Metropolitan District No 5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 12/01/2051 | 2000000 | 1711048 |
| Cottonwood Hollow Residential Metropolitan District |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/2051 | 750000 | 591882 |
| Four Corners Business Improvement District |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 12/01/2052 | 1000000 | 892936 |
| Grandview Reserve Metropolitan District No. 3, Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 12/01/2052 | 1500000 | 1378926 |
| Grandview Reserve Metropolitan District No. 3, Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 12/15/2052 | 1000000 | 945051 |
| Ledge Rock Center Commercial Metropolitan District, Series A (f) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 11/01/2052 | 1000000 | 981499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 11/01/2052 | 1000000 | 982157 |
| Legato Community Authority, Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 12/15/2051 | 2000000 | 1760704 |
| South Maryland Creek Ranch Metropolitan District, Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 12/01/2047 | 1625000 | 1558771 |
| Waters' Edge Metropolitan District No. 2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/2051 | 1000000 | 809764 |
|  |  | **19557010** |
| **FLORIDA - 6.3%** |  |  |
| Capital Trust Agency, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Voans SW Florida Healthcare) (b) (d) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 12/31/2022 | 4250000 | 3400000 |
| Capital Trust Agency, Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Tuscan Gardens of Palm Coast Obligated Group) (b) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/01/2032 | 1090000 | 621300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 10/01/2037 | 1290000 | 735300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 10/01/2040 | 1525000 | 869250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 10/01/2049 | 1700000 | 969000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Tallahassee NHHI) (b) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 12/01/2045 | 150000 | 43500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 12/01/2050 | 2000000 | 580000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Tapestry Senior Housing Walden) (b) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 07/01/2052 | 2200000 | 506000 |
| Florida Development Finance Corp., Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Cabana at Jensen Dunes) (d) (f) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.000%, 11/15/2056 | 5025000 | 5273737 |
| Lake County, Series A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Village Veranda at Lady Lake Obligated Group) (b) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 01/01/2052 | 5800000 | 4524000 |
|  |  | **17522087** |
| **GEORGIA - 0.9%** |  |  |
| LaGrange Development Authority, Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: LaGrange College Obligated Group) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/15/2052 | 3000000 | **2641770** |
| **IDAHO - 0.6%** |  |  |
| Spring Valley Community Infrastructure District No. 1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 09/01/2051 (f) | 2500000 | **1807945** |
| **ILLINOIS - 2.5%** |  |  |
| Illinois Finance Authority, Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Aim Art in Motion) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/2051 | 3000000 | 2230403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Plymouth Place) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 05/15/2047 | 1000000 | 1026474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Roosevelt University) (f) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 04/01/2049 | 2500000 | 2443601 |
| Illinois Finance Authority, Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Aim Art in Motion) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/2024 | 305000 | 289381 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Blue Island) (b) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 12/01/2053 | 1220000 | 12 |
| Illinois Housing Development Authority, Sub Series A-1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 08/01/2028 | 1000000 | 958598 |
|  |  | **6948469** |
| **INDIANA - 4.2%** |  |  |
| Anderson Industrial Economic Development Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Anderson University, Inc.) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/01/2042 | 1000000 | 876873 |
| Evansville Manufactured Housing Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Evansville RCF LP) (b) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 01/01/2038 | 1500000 | 1230844 |
| Goshen Manufactured Housing Revenue, Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Green Oaks of Goshen, LLC) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/01/2041 | 2500000 | 1942029 |
| Indiana Finance Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Brightmark Plastics Renewal) (a) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 03/01/2039 | 6360000 | 4796230 |
| Valparaiso Manufactured Housing Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Green Oaks of Valparaiso) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 12/01/2041 | 3500000 | 2768070 |
|  |  | **11614046** |
| **IOWA - 1.3%** |  |  |
| Iowa Finance Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Sunrise Manor) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 09/01/2051 | 1000000 | 787493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Riserville Holdings) (a) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/2051 | 3575000 | 2717446 |
|  |  | **3504939** |
| **KENTUCKY - 3.4%** |  |  |
| City of Falmouth Solid Waste Disposal Facilities Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Texas Bluegrass Biofuels, LLC) (f) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 06/01/2040 | 8875000 | 8231207 |
| Kentucky Bond Development Corp., Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Transylvania University) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 03/01/2046 | 1350000 | 1201588 |
|  |  | **9432795** |
| **LOUISIANA - 1.8%** |  |  |
| Louisiana Public Facilities Authority, Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Grambling High Foundation) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/2041 | 1000000 | 852356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 06/01/2051 | 1000000 | 835388 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 06/01/2052 (f) | 770000 | 735145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 06/01/2060 | 1500000 | 1216573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Jefferson Rise Charter School) (f) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/01/2037 | 480000 | 459852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 06/01/2052 | 1000000 | 944893 |
|  |  | **5044207** |
| **MAINE - 1.4%** |  |  |
| Maine Finance Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Go Lab Madison, LLC) (a) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 12/01/2051 | 5500000 | **3782883** |
| **MASSACHUSETTS - 0.4%** |  |  |
| Massachusetts Development Finance Agency |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Ascentria Care Alliance) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/2051 | 1250000 | **1023017** |
| **MICHIGAN - 0.4%** |  |  |
| Michigan Finance Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Aquinas College) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/01/2046 | 1435000 | **1209651** |
| **MISSISSIPPI - 1.6%** |  |  |
| Tunica County |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/01/2040 | 4055000 | 3561303 |
| Mississippi Development Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 11/01/2036 | 1000000 | 790129 |
|  |  | **4351432** |
| **NEW JERSEY - 0.0%** |  |  |
| New Jersey Economic Development Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Kintock Obligated Group) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 09/01/2047 | 65000 | **61636** |
| **NEW YORK - 3.8%** |  |  |
| Erie Tobacco Asset Securitization Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 06/01/2055 (c) | 6000000 | 321626 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 06/01/2060 (c) | 115000000 | 6293973 |
| New York Counties Tobacco Trust IV, Series F |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 06/01/2060 (c) | 50000000 | 2491840 |
| New York State Dormitory Authority, Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: The New School) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/01/2047 | 350000 | 304499 |
| Ulster County Capital Resource Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Woodland Pond) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 09/15/2047 | 550000 | 421093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 09/15/2053 | 920000 | 679394 |
|  |  | **10512425** |
| **OHIO - 1.5%** |  |  |
| Southern Ohio Port Authority, Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: PureCycle Ohio) (a) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 12/01/2042 | 2600000 | 2167429 |
| Washington County Hospital Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Marietta Area Healthcare) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 12/01/2037 | 1000000 | 989769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 12/01/2042 | 1000000 | 994060 |
|  |  | **4151258** |
| **OKLAHOMA - 2.8%** |  |  |
| Atoka Industrial Development Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Gladieux Metals Recycling) (a) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 08/01/2039 | 7100000 | 7167861 |
| Atoka Industrial Development Authority, Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Gladieux Metals Recycling) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 08/01/2039 | 750000 | 757168 |
|  |  | **7925029** |
| **OREGON - 0.6%** |  |  |
| Oregon Business Development Commission, Series 248-A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Red Rock Biofuels) (a) (b) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 04/01/2031 | 6050000 | 441650 |
| Oregon Business Development Commission, Series 248-D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Red Rock Biofuels) (a) (b) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 04/01/2031 | 12500000 | 912500 |
| Oregon Business Development Commission, Series 248-G |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 04/01/2037 (a) (b) (e) (f) | 3200000 | 233600 |
|  |  | **1587750** |
| **PENNSYLVANIA - 2.4%** |  |  |
| Pennsylvania Economic Development Financing Authority, Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Consol Energy) (a) (e) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 04/01/2051 | 4000000 | 4558867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Tapestry Moon) (b) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 12/01/2038 | 2950000 | 1121000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 12/01/2053 | 2650000 | 1007000 |
|  |  | **6686867** |
| **PUERTO RICO - 7.4%** |  |  |
| Children's Trust Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 05/15/2057 (c) | 42000000 | 2784903 |
| Children's Trust Fund, Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 05/15/2057 (c) | 120000000 | 6246396 |
| Commonwealth of Puerto Rico |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 11/01/2051 (c) | 2397090 | 850967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 11/01/2051 (b) | 13537753 | 6058144 |
| Puerto Rico Highway & Transportation Authority, Series E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 07/01/2024 (b) | 75000 | 15187 |
| Puerto Rico Highway & Transportation Authority, Series G |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/2028 (b) | 125000 | 25312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/2033 (b) | 2045000 | 414112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/2042 (b) | 2305000 | 466762 |
| Puerto Rico Highway & Transportation Authority, Series H |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/31/2022 (b) | 260000 | 52000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/2023 (b) | 110000 | 22275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 07/01/2035 (b) | 235000 | 47587 |
| Puerto Rico Highway & Transportation Authority, Series J |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 12/31/2022 (b) | 85000 | 17000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 07/01/2024 (b) | 145000 | 29363 |
| Puerto Rico Highway & Transportation Authority, Series K |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/31/2022 (b) | 55000 | 11000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 12/31/2022 (b) | 100000 | 20000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/2030 (b) | 2270000 | 459675 |
| Puerto Rico Highway & Transportation Authority, Series M |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/31/2022 (b) | 50000 | 10000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 12/31/2022 (b) | 130000 | 26000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 07/01/2023 (b) | 95000 | 19238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/2025 (b) | 355000 | 71888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/2026 (b) | 565000 | 114413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/2027 (b) | 215000 | 43538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/2037 (b) | 3520000 | 712800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/2046 (b) | 5530000 | 1119825 |
| Puerto Rico Highway & Transportation Authority, Series N |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/31/2022 (b) | 85000 | 17000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 07/01/2023 (b) | 400000 | 81000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 07/01/2024 (b) | 4000000 | 810000 |
| Puerto Rico Industrial Tourist Educational Medical & Environmental Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: AES Puerto Rico LP) (a) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 06/01/2026 | 110000 | 113948 |
|  |  | **20660333** |
| **SOUTH CAROLINA - 5.8%** |  |  |
| City of Hardeeville |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 05/01/2052 | 1100000 | 752117 |
| South Carolina Jobs-Economic Development Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Upstate Senior Living Obligated Group) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/15/2027 | 50000 | 48105 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Repower S. Berkeley) (a) (b) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 02/01/2035 | 1000000 | 400000 |
| South Carolina Jobs-Economic Development Authority, Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Jasper Pellets) (a) (b) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 11/01/2038 | 1500000 | 1425000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: AAC East) (a) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 05/01/2039 | 3500000 | 2684233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Virtus Academy) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/15/2041 | 920000 | 804840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/15/2051 | 1330000 | 1090212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/15/2056 | 1100000 | 877084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Last Step Recycling, LLC) (a) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 06/01/2051 | 2000000 | 1435461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: CR River Park) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 10/01/2057 | 6150000 | 6706056 |
|  |  | **16223108** |
| **TENNESSEE - 1.3%** |  |  |
| Knox County Industrial Development Board |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: TomPaul Knoxville, LLC) (a) (f) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 11/01/2052 | 1000000 | 1002441 |
| Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, Series B-1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Trousdale Foundation Obligated Group) (b) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 04/01/2049 | 1140000 | 74100 |
| Shelby County Health Educational & Housing Facilities Board, Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Luke Obligated Group) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 10/01/2059 | 3000000 | 2579464 |
|  |  | **3656005** |
| **TEXAS - 17.8%** |  |  |
| Angelina & Neches River Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Jefferson Enterprises Energy) (a) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 12/01/2045 | 10900000 | 8330616 |
| Brazoria County Industrial Development Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Gladieux Metals Recycling) (a) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 03/01/2039 | 4400000 | 4649639 |
| Brazoria County Industrial Development Corp., Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Gladieux Metals Recycling) (a) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 03/01/2039 | 3400000 | 3592903 |
| Brazoria County Industrial Development Corp., Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Gladieux Metals Recycling) (a) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 03/01/2039 | 1250000 | 1157487 |
| Calhoun County Navigation Industrial Development Authority, Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Max Midstream Texas, LLC) (a) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 07/01/2026 | 1500000 | 1349049 |
| Calhoun County Navigation Industrial Development Authority, Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Max Midstream Texas, LLC) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 07/01/2026 | 1000000 | 934628 |
| Jefferson County Industrial Development Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: TRP Crude Marketing) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 04/01/2039 | 1000000 | 837292 |
| Kountze Economic Development Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Allegiant Industrial) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15.000%, 11/01/2027 | 3550000 | 3488455 |
| New Hope Cultural Education Facilities Finance Corp., Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Outlook at Windhaven) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/01/2033 | 1500000 | 1451243 |
| New Hope Cultural Education Facilities Finance Corp., Series A-2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Sanctuary LTC, LLC) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 01/01/2031 | 2500000 | 2247745 |
| New Hope Cultural Education Facilities Finance Corp., Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Buckingham Senior Living Obligated Group) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/15/2061 | 2318822 | 1071566 |
| Port Beaumont Navigation District |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Allegiant Industrial Park) (a) (f) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 02/01/2039 | 7595000 | 7263177 |
| San Antonio Education Facilities Corp., Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Hallmark University) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/01/2041 | 840000 | 726322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/01/2051 | 1000000 | 813384 |
| San Antonio Education Facilities Corp., Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Hallmark University) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 10/01/2028 | 350000 | 335988 |
| Tarrant County Cultural Education Facilities Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: MRC Senior Living Fort Worth) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 11/15/2055 | 2600000 | 2447409 |
| Tarrant County Cultural Education Facilities Finance Corp., Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: MRC Senior Living Fort Worth) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 11/15/2051 | 5000000 | 4664621 |
| Tarrant County Cultural Education Facilities Finance Corp., Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: CC Young Memorial Home) (b) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 02/15/2041 | 550000 | 357500 |
| Woodloch Health Facilities Development Corp., Series A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Senior Care Living VII) (b) (f) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 12/01/2051 | 6375000 | 3840938 |
|  |  | **49559962** |
| **UTAH - 1.7%** |  |  |
| Downtown East Streetcar, Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 03/01/2053 (f) | 1000000 | 994789 |
| Red Bridge Public Infrastructure District No. 1, Series 1-A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 02/01/2051 | 2000000 | 1514444 |
| Utah Charter School Finance Authority, Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Rockwell Charter High School) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 07/15/2042 | 905000 | 782574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 07/15/2047 | 1460000 | 1245504 |
| Utah Charter School Finance Authority, Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Rockwell Charter High School) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 07/15/2047 | 300000 | 266705 |
|  |  | **4804016** |
| **WASHINGTON - 0.8%** |  |  |
| Washington State Housing Finance Commission, Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Lutheran Retirement Home Obligated Group) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/2038 | 1075000 | 887166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Eliseo Obligated Group) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 01/01/2051 | 2000000 | 1472986 |
|  |  | **2360152** |
| **WEST VIRGINIA - 2.3%** |  |  |
| West Virginia Economic Development Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Entsorga West Virginia) (a) (b) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 02/01/2036 | 1000000 | 800000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Empire Trimodol Terminal) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 12/01/2040 | 7000000 | 5614783 |
|  |  | **6414783** |
| **WISCONSIN - 15.2%** |  |  |
| Wisconsin Health & Educational Facilities Authority, Series C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Chiara Communities, Inc.) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 07/01/2043 | 505000 | 323517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 07/01/2053 | 2500000 | 1629927 |
| Wisconsin Public Finance Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Cedars Obligated Group) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 05/01/2039 | 1210000 | 1053624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 05/01/2054 | 7950000 | 6675830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Noorda College of Osteopathic Medicine) (f) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 06/01/2045 | 2545000 | 2024968 |
| Wisconsin Public Finance Authority, Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Austin FBO LLC) (a) (b) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.050%, 09/01/2046 | 9250000 | 8974720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Coral Academy of Science) (f) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 06/01/2052 | 600000 | 573740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Discovery Charter School) (f) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 06/01/2052 | 1900000 | 1963914 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Dreamhouse Beach) (f) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 06/01/2025 | 1425000 | 1434518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Dreamhouse Beach) (f) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 06/01/2025 | 1000000 | 974649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Explore Academy) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 02/01/2048 | 1550000 | 1353385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Mclemore Resort Manager) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 06/01/2056 | 1000000 | 747242 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Prime Healthcare Foundation) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/2027 | 500000 | 510596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Shining Rock Classical) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/15/2052 | 900000 | 832361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: University of Birmingham) (b) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.850%, 10/01/2047 | 400000 | 313699 |
| Wisconsin Public Finance Authority, Series A-1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Trinity Regional Hospital) (b) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 01/01/2050 | 12425000 | 10355764 |
| Wisconsin Public Finance Authority, Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Obligor: Million Air Two Obligated Group) (a) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 06/01/2041 | 2980000 | 2653752 |
|  |  | **42396206** |
| **Total Municipal Bonds** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **(Cost $344,440,319)** |  | **282152025** |
| **CORPORATE BONDS - 1.5%** |  |  |
| LSC Estero Prime |  |  |
| &nbsp;&nbsp;&nbsp; 12.000%, 04/30/2023 (d) | 1250000 | 1250000 |
| CalPlant I, LLC |  |  |
| &nbsp;&nbsp;&nbsp; 9.500%, 05/01/2023 (b) (f) (g) | 3000000 | 3000000 |
| **Total Corporate Bonds** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **(Cost $4,250,000)** |  | **4250000** |
| **SHORT-TERM INVESTMENT - 0.0%** |  |  |
| First American Government Obligations Fund, Class X 3.67% ^ |  |  |
| **Total Short-Term Investment** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **(Cost $305)** | 305 | **305** |
| **Total Investments\* - 102.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **(Cost $348,690,624)** |  | **286402330** |
| **Other Assets & Liabilities, Net - (2.7)%** |  | **(7551392)** |
| **Total Net Assets - 100.0%** |  | $**278850938** |

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---

| | | | | |
|:---|:---|:---|:---|:---|
| (a) <br>| Security subject to the Alternative Minimum Tax ("AMT"). As of November 30, 2022, the total value of securities subject to the AMT was $78,096,092 or 28.0% of net assets. | Security subject to the Alternative Minimum Tax ("AMT"). As of November 30, 2022, the total value of securities subject to the AMT was $78,096,092 or 28.0% of net assets. | Security subject to the Alternative Minimum Tax ("AMT"). As of November 30, 2022, the total value of securities subject to the AMT was $78,096,092 or 28.0% of net assets. | Security subject to the Alternative Minimum Tax ("AMT"). As of November 30, 2022, the total value of securities subject to the AMT was $78,096,092 or 28.0% of net assets. |
| (b) <br>| Security in default at November 30, 2022. | Security in default at November 30, 2022. | Security in default at November 30, 2022. | Security in default at November 30, 2022. |
| (c) <br>| Zero coupon bonds make no periodic interest payments, but are issued at deep discounts from par value. | Zero coupon bonds make no periodic interest payments, but are issued at deep discounts from par value. | Zero coupon bonds make no periodic interest payments, but are issued at deep discounts from par value. | Zero coupon bonds make no periodic interest payments, but are issued at deep discounts from par value. |
| (d) <br>| Security is categorized in Level 3 of the fair value hierarchy. These Level 3 securities have a total fair value of $9,923,737, which represents 3.6% of total net assets. Information concerning these Level 3 securities is as follows: | Security is categorized in Level 3 of the fair value hierarchy. These Level 3 securities have a total fair value of $9,923,737, which represents 3.6% of total net assets. Information concerning these Level 3 securities is as follows: | Security is categorized in Level 3 of the fair value hierarchy. These Level 3 securities have a total fair value of $9,923,737, which represents 3.6% of total net assets. Information concerning these Level 3 securities is as follows: | Security is categorized in Level 3 of the fair value hierarchy. These Level 3 securities have a total fair value of $9,923,737, which represents 3.6% of total net assets. Information concerning these Level 3 securities is as follows: |
|  | Security | Par | Dates Acquired | Cost Basis |
|  | Capital Trust Agency, Inc., 10.000%, 12/31/2022 | $4250000 | October 2017 & <br> November 2019 | $4250000 <br>|
|  | Florida Development Finance Corp., Series B 12.000%, 11/15/2056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5025000 | April 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5025000 |
|  | LSC Estero Prime, 12.000%, 04/30/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1250000 | May 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250000 |
| (e) <br>| Step-up bond; the interest rate shown is the rate in effect as of November 30, 2022. | Step-up bond; the interest rate shown is the rate in effect as of November 30, 2022. | Step-up bond; the interest rate shown is the rate in effect as of November 30, 2022. | Step-up bond; the interest rate shown is the rate in effect as of November 30, 2022. |
| (f) <br>| Security purchased within the terms of a private placement memorandum, exempt from registration under Rule 144A of the Securities Act 0f 1933, as amended, and may be sold only to dealers in that program or other "qualified institutional buyers." As of November 30, 2022, the total value of these investments was $49,317,228 or 17.7% of total net assets. | Security purchased within the terms of a private placement memorandum, exempt from registration under Rule 144A of the Securities Act 0f 1933, as amended, and may be sold only to dealers in that program or other "qualified institutional buyers." As of November 30, 2022, the total value of these investments was $49,317,228 or 17.7% of total net assets. | Security purchased within the terms of a private placement memorandum, exempt from registration under Rule 144A of the Securities Act 0f 1933, as amended, and may be sold only to dealers in that program or other "qualified institutional buyers." As of November 30, 2022, the total value of these investments was $49,317,228 or 17.7% of total net assets. | Security purchased within the terms of a private placement memorandum, exempt from registration under Rule 144A of the Securities Act 0f 1933, as amended, and may be sold only to dealers in that program or other "qualified institutional buyers." As of November 30, 2022, the total value of these investments was $49,317,228 or 17.7% of total net assets. |
| (g) <br>| Security is considered illiquid and is categorized in Level 2 of the fair value hierarchy. This level 2 illiquid security had a total fair value of $3,000,000 which represents 1.1% of total net assets. Informaton concerning this illiquid security is as follows. | Security is considered illiquid and is categorized in Level 2 of the fair value hierarchy. This level 2 illiquid security had a total fair value of $3,000,000 which represents 1.1% of total net assets. Informaton concerning this illiquid security is as follows. | Security is considered illiquid and is categorized in Level 2 of the fair value hierarchy. This level 2 illiquid security had a total fair value of $3,000,000 which represents 1.1% of total net assets. Informaton concerning this illiquid security is as follows. | Security is considered illiquid and is categorized in Level 2 of the fair value hierarchy. This level 2 illiquid security had a total fair value of $3,000,000 which represents 1.1% of total net assets. Informaton concerning this illiquid security is as follows. |
|  | Security | Par | Dates Acquired | Cost Basis |
|  | CalPlant I, LLC, 9.500%, 05/01/2023 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3000000 | November 2021 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3000000 |
| ^ <br>| The rate shown is the annualized seven day effective yield as of November 30, 2022. | The rate shown is the annualized seven day effective yield as of November 30, 2022. |  |  |
| \* <br>| All securities in this Fund have been pledged as collateral for a secured line of credit. |  |  |  |
|  | **Summary of Fair Value Exposure** |  |  |  |
|  | The Fund has adopted authoritative fair value accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period and expanded disclosure of valuation Levels for major security types. These inputs are summarized in the three broad Levels listed below: | The Fund has adopted authoritative fair value accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period and expanded disclosure of valuation Levels for major security types. These inputs are summarized in the three broad Levels listed below: | The Fund has adopted authoritative fair value accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period and expanded disclosure of valuation Levels for major security types. These inputs are summarized in the three broad Levels listed below: | The Fund has adopted authoritative fair value accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period and expanded disclosure of valuation Levels for major security types. These inputs are summarized in the three broad Levels listed below: |
|  | Level 1 - Unadjusted quoted prices in active markets for identical assets or liablities that the Fund has the ability to access. | Level 1 - Unadjusted quoted prices in active markets for identical assets or liablities that the Fund has the ability to access. | Level 1 - Unadjusted quoted prices in active markets for identical assets or liablities that the Fund has the ability to access. | Level 1 - Unadjusted quoted prices in active markets for identical assets or liablities that the Fund has the ability to access. |
|  | Level 2 - 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. | Level 2 - 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. | Level 2 - 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. | Level 2 - 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. |
|  | Level 3 - 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. | Level 3 - 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. | Level 3 - 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. | Level 3 - 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. |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| As of November 30, 2022, the Fund's investments in securities were classified as follows: | As of November 30, 2022, the Fund's investments in securities were classified as follows: | As of November 30, 2022, the Fund's investments in securities were classified as follows: | As of November 30, 2022, the Fund's investments in securities were classified as follows: |  |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Municipal Bonds** | $- | $273478288 | $8673737 | $282152025 |
| **Corporate Bonds** | - | 3000000 | 1250000 | 4250000 |
| **Short-Term Investment** | 305 | - | - | 305 |
| **Total Investments in Securities** | $305 | $276478288 | $9923737 | $286402330 |

---

---

| | |
|:---|:---|
| Refer to the Schedule of Investments for further information on the classification of investments. |  |
| The following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value: | The following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value: |
|  | Investments |
|  | in |
|  | Securities |
| Balance as of August 31, 2022 | $9923737 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accrued discounts/premiums | - |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) | - |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in net unrealized appreciation/depreciation | - |
| &nbsp;&nbsp;&nbsp;&nbsp; Net purchases | - |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers into and/or out of Level 3 | - |
| Balance as of November 30, 2022 | $9923737 |
| Change in unrealized appreciation/depreciation during the period for Level 3 investments held at as of November 30, 2022 | $- |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| The Level 3 investments as of November 30, 2022, represented 3.6% of the Fund's net assets. | The Level 3 investments as of November 30, 2022, represented 3.6% of the Fund's net assets. | The Level 3 investments as of November 30, 2022, represented 3.6% of the Fund's net assets. | The Level 3 investments as of November 30, 2022, represented 3.6% of the Fund's net assets. | The Level 3 investments as of November 30, 2022, represented 3.6% of the Fund's net assets. | The Level 3 investments as of November 30, 2022, represented 3.6% of the Fund's net assets. | The Level 3 investments as of November 30, 2022, represented 3.6% of the Fund's net assets. |
| The following provides information regarding the valuation techniques, unobservable inputs used, and other information related to the fair value of Level 3 investments as of November 30, 2022: | The following provides information regarding the valuation techniques, unobservable inputs used, and other information related to the fair value of Level 3 investments as of November 30, 2022: | The following provides information regarding the valuation techniques, unobservable inputs used, and other information related to the fair value of Level 3 investments as of November 30, 2022: | The following provides information regarding the valuation techniques, unobservable inputs used, and other information related to the fair value of Level 3 investments as of November 30, 2022: | The following provides information regarding the valuation techniques, unobservable inputs used, and other information related to the fair value of Level 3 investments as of November 30, 2022: | The following provides information regarding the valuation techniques, unobservable inputs used, and other information related to the fair value of Level 3 investments as of November 30, 2022: | The following provides information regarding the valuation techniques, unobservable inputs used, and other information related to the fair value of Level 3 investments as of November 30, 2022: |
| Security Description | Security Type | Fair Value as of <br> November 30, 2022 | Valuation Technique | Unobservable Input \*\* | Range | Weighted Average |
| Capital Trust Agency, Inc. | Municipal Bond | $3400000 | Liquidation Approach Refinance Approach | Recovery Rate <br> Recovery Rate | 60-70%<br> 100% | 50%<br> 50% |
| LSC Estero Prime | Corporate Bond | 1250000 | Refinance Approach | Recovery Rate | 100% | 100% |
| Florida Development Finance Corp., Series B | Municipal Bond | 5273737 | Discounted cash flow | Recovery Rate | 11.40% | 100% |
| \*\* Significant increases and decreases in the unobservable inputs used to determine fair value of Level 3 assets could result in significantly higher or lower fair value measurements. An increase to the unobervable input would result in a increase to the fair value. A decrease to the unobervable input would have the opposite effect. | \*\* Significant increases and decreases in the unobservable inputs used to determine fair value of Level 3 assets could result in significantly higher or lower fair value measurements. An increase to the unobervable input would result in a increase to the fair value. A decrease to the unobervable input would have the opposite effect. | \*\* Significant increases and decreases in the unobservable inputs used to determine fair value of Level 3 assets could result in significantly higher or lower fair value measurements. An increase to the unobervable input would result in a increase to the fair value. A decrease to the unobervable input would have the opposite effect. | \*\* Significant increases and decreases in the unobservable inputs used to determine fair value of Level 3 assets could result in significantly higher or lower fair value measurements. An increase to the unobervable input would result in a increase to the fair value. A decrease to the unobervable input would have the opposite effect. | \*\* Significant increases and decreases in the unobservable inputs used to determine fair value of Level 3 assets could result in significantly higher or lower fair value measurements. An increase to the unobervable input would result in a increase to the fair value. A decrease to the unobervable input would have the opposite effect. | \*\* Significant increases and decreases in the unobservable inputs used to determine fair value of Level 3 assets could result in significantly higher or lower fair value measurements. An increase to the unobervable input would result in a increase to the fair value. A decrease to the unobervable input would have the opposite effect. | \*\* Significant increases and decreases in the unobservable inputs used to determine fair value of Level 3 assets could result in significantly higher or lower fair value measurements. An increase to the unobervable input would result in a increase to the fair value. A decrease to the unobervable input would have the opposite effect. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Managed Portfolio Series

- **b. Investment Company Act file number:** 811-22525

- **c. CIK number of Registrant:** 0001511699

- **d. LEI of Registrant:** 254900SQ3GG01NP4WM65

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

  - **Street Address 1:** 615 East Michigan Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

  - **Telephone number:** 414-516-1712

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

- **a. Name of Series:** Principal Street High Income Municipal Fund

- **b. EDGAR series identifier (if any):** S000058558

- **c. LEI of Series:** 549300YR79DBA2W8LN49

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

- **a. Date of fiscal year-end:** 2023-08-31

- **b. Date as of which information is reported:** 2022-11-30

**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:** $294779530.59

**Total Liabilities:** $14392400.45

**Net Assets:** $280387130.14

**Delayed Delivery Securities:** $2940130.00

**Cash Not Reported:** $68209.15

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.000000000000 | **1-Year:** 40.220000000000 | **5-Year:** 1539.280000000000 | **10-Year:** 1134.390000000000 | **30-Year:** 0.000000000000

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

- **3-Month:** 48630.870000000000 | **1-Year:** 25661.170000000000 | **5-Year:** 98010.810000000000 | **10-Year:** 34573.600000000000 | **30-Year:** 13689.320000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000192453 | -6.07%               | -2.04%               | 4.14%                |
| Class ID C000192454 | -5.95%               | -2.20%               | 4.21%                |
| Class ID C000235452 | -5.99%               | -2.07%               | 4.27%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $-18889335.75                              |
| Month 2  | $-958830.43              | $-6606566.57                               |
| Month 3  | $-1723051.28             | $12135408.89                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CALPLANT I LLC                                 | CalPlant I LLC                                                                   | CUSIP: 13136CAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3000000.00   | 1.07%             | 2022-12-31      | Fixed         | 9.50%                 | No            |                  3 | On Loan: No      |
| CANYON PINES MET DIST CO                       | Canyon Pines Metropolitan District                                               | CUSIP: 138867AB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1675373.60   | 0.60%             | 2051-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AGY FL REVENUE                   | Capital Trust Agency Inc                                                         | CUSIP: 14052WCH8<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    150000 | PA      | $43500.00     | 0.02%             | 2045-12-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AGY FL REVENUE                   | Capital Trust Agency Inc                                                         | CUSIP: 14052WCJ4<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $580000.00    | 0.21%             | 2050-12-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE                 | South Carolina Jobs-Economic Development Authority                               | CUSIP: 83704MBZ8<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1330000 | PA      | $1090211.77   | 0.39%             | 2051-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE                 | South Carolina Jobs-Economic Development Authority                               | CUSIP: 83704MCA2<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    900000 | PA      | $717614.01    | 0.26%             | 2056-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AGY FL REVENUE                   | Capital Trust Agency Inc                                                         | CUSIP: 14052WCM7<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |   1090000 | PA      | $621300.00    | 0.22%             | 2032-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AGY FL REVENUE                   | Capital Trust Agency Inc                                                         | CUSIP: 14052WCN5<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |   1290000 | PA      | $735300.00    | 0.26%             | 2037-10-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SOUTH MARYLAND CREEK RANCH MET                 | South Maryland Creek Ranch Metropolitan District                                 | CUSIP: 838797AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1625000 | PA      | $1558770.69   | 0.56%             | 2047-12-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| STHRN OH PORT EXEMPT FAC REVEN                 | Southern Ohio Port Authority                                                     | CUSIP: 84355AAC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2600000 | PA      | $2167428.90   | 0.77%             | 2042-12-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ANDERSON IN ECON DEV REVENUE                   | City of Anderson IN                                                              | CUSIP: 033887CW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $876873.10    | 0.31%             | 2042-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ANGELINA & NECHES RIVER AUTH I                 | Angelina & Neches River Authority                                                | CUSIP: 03469KAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10900000 | PA      | $8330616.03   | 2.97%             | 2045-12-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AGY FL REVENUE                   | Capital Trust Agency Inc                                                         | CUSIP: 14052WCP0<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |   1525000 | PA      | $869250.00    | 0.31%             | 2040-10-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AGY FL REVENUE                   | Capital Trust Agency Inc                                                         | CUSIP: 14052WCT2<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |   1700000 | PA      | $969000.00    | 0.35%             | 2049-10-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AGY FL REVENUE                   | Capital Trust Agency Inc                                                         | CUSIP: 14052WCV7<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |   2200000 | PA      | $506000.00    | 0.18%             | 2052-07-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AGY FL REVENUE                   | Capital Trust Agency Inc                                                         | CUSIP: 14052WCZ8<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |   4250000 | PA      | $3400000.00   | 1.21%             | 2022-12-31      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| SPRING VLY CMNTY INFRASTRUCTUR                 | Spring Valley Community Infrastructure District No 1                             | CUSIP: 850072AA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $1807944.75   | 0.64%             | 2051-09-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| TARRANT CNTY TX CULTURAL EDU F                 | Tarrant County Cultural Education Facilities Finance Corp                        | CUSIP: 87638RHR1<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |    550000 | PA      | $357500.00    | 0.13%             | 2041-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| TARRANT CNTY TX CULTURAL EDU F                 | Tarrant County Cultural Education Facilities Finance Corp                        | CUSIP: 87638RKG1<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4664621.00   | 1.66%             | 2051-11-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| TARRANT CNTY TX CULTURAL EDU F                 | Tarrant County Cultural Education Facilities Finance Corp                        | CUSIP: 87638RKH9<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   2600000 | PA      | $2447408.60   | 0.87%             | 2055-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| TUNICA CNTY MS                                 | County of Tunica MS                                                              | CUSIP: 899759AA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4055000 | PA      | $3561302.53   | 1.27%             | 2040-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ULSTER CNTY NY CAPITAL RESOURC                 | Ulster County Capital Resource Corp                                              | CUSIP: 903768AF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $421093.31    | 0.15%             | 2047-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CASCADE RIDGE MET DIST CO                      | Cascade Ridge Metropolitan District                                              | CUSIP: 147351AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $812112.30    | 0.29%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHERRY CREEK CO SOUTH MET DIST                 | Cherry Creek South Metropolitan District No 5                                    | CUSIP: 16456CAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1711048.20   | 0.61%             | 2051-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH ECON                  | Arizona Industrial Development Authority                                         | CUSIP: 040523AF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1120000.00   | 0.40%             | 2050-07-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH ECON                  | Arizona Industrial Development Authority                                         | CUSIP: 040523AH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1400000.00   | 0.50%             | 2030-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ULSTER CNTY NY CAPITAL RESOURC                 | Ulster County Capital Resource Corp                                              | CUSIP: 903768AG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    920000 | PA      | $679394.06    | 0.24%             | 2053-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                 | Utah Charter School Finance Authority                                            | CUSIP: 91754TVC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    905000 | PA      | $782573.86    | 0.28%             | 2042-07-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                 | Utah Charter School Finance Authority                                            | CUSIP: 91754TVD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1460000 | PA      | $1245504.10   | 0.44%             | 2047-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                 | Utah Charter School Finance Authority                                            | CUSIP: 91754TVE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $266704.65    | 0.10%             | 2047-07-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| VALPARAISO IN MF HSG REVENUE                   | City of Valparaiso IN                                                            | CUSIP: 920286AA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $2768069.50   | 0.99%             | 2041-12-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| WASHINGTON CNTY OH HOSP REVENU                 | County of Washington OH                                                          | CUSIP: 938154DV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $989768.40    | 0.35%             | 2037-12-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH ECON                  | Arizona Industrial Development Authority                                         | CUSIP: 040523AL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    540000 | PA      | $378000.00    | 0.13%             | 2051-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH EDU R                 | Arizona Industrial Development Authority                                         | CUSIP: 04052BHW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $974044.80    | 0.35%             | 2049-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON CNTY OH HOSP REVENU                 | County of Washington OH                                                          | CUSIP: 938154DW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $994060.40    | 0.35%             | 2042-12-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI                 | Washington State Housing Finance Commission                                      | CUSIP: 939783G83<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1472986.00   | 0.53%             | 2051-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI                 | Washington State Housing Finance Commission                                      | CUSIP: 939783WQ5<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1075000 | PA      | $887166.43    | 0.32%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WATERS EDGE MET DIST #2 CO                     | Waters' Edge Metropolitan District No 2                                          | CUSIP: 94184VAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $809763.80    | 0.29%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ST ECON DEV AUTH                 | West Virginia Economic Development Authority                                     | CUSIP: 95648VBD0<br>LEI: 549300WW88TKKF5H1220 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $800000.00    | 0.29%             | 2036-02-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ECON DEV AUTH DO                 | West Virginia Economic Development Authority                                     | CUSIP: 95649CAA8<br>LEI: 549300WW88TKKF5H1220 | Long             | DBT              | MUN               | US        |   7000000 | PA      | $5614782.60   | 2.00%             | 2040-12-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| ATOKA OK INDL DEV AUTH SOLID W                 | Atoka Industrial Development Authority                                           | CUSIP: 049610AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7100000 | PA      | $7167860.38   | 2.56%             | 2039-08-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ATOKA OK INDL DEV AUTH SOLID W                 | Atoka Industrial Development Authority                                           | CUSIP: 049610AB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $757168.35    | 0.27%             | 2039-08-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HLTH EDL FACS AUTH S                 | Wisconsin Health & Educational Facilities Authority                              | CUSIP: 97671VBN4<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    505000 | PA      | $323516.48    | 0.12%             | 2043-07-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HLTH EDL FACS AUTH S                 | Wisconsin Health & Educational Facilities Authority                              | CUSIP: 97671VBP9<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $1629927.25   | 0.58%             | 2053-07-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| WOODLOCH HLTH FACS DEV CORP TX                 | Woodloch Health Facilities Development Corp                                      | CUSIP: 97982CAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6375000 | PA      | $3840937.50   | 1.37%             | 2051-12-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| THE CHILDRENS TRUST FUND PR TO                 | Children's Trust Fund                                                            | CUSIP: 16876QBL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  42000000 | PA      | $2784902.40   | 0.99%             | 2057-05-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| THE CHILDRENS TRUST FUND PR TO                 | Children's Trust Fund                                                            | CUSIP: 16876QBM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        | 120000000 | PA      | $6246396.00   | 2.23%             | 2057-05-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| COTTONWOOD HOLLOW RESIDENTIAL                  | Cottonwood Hollow Residential Metropolitan District                              | CUSIP: 221866AA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $591881.93    | 0.21%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DOWNTOWN EAST STREETCAR SWR PU                 | Downtown East Streetcar Sewer Public Infrastructure District                     | CUSIP: 261151AB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $994789.40    | 0.35%             | 2053-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ERIE CNTY NY TOBACCO ASSET SEC                 | Erie Tobacco Asset Securitization Corp                                           | CUSIP: 295095BE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $321625.80    | 0.11%             | 2055-06-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ERIE CNTY NY TOBACCO ASSET SEC                 | Erie Tobacco Asset Securitization Corp                                           | CUSIP: 295095BM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        | 115000000 | PA      | $6293973.00   | 2.24%             | 2060-06-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| AURORA HIGHLANDS CMNTY AUTH BR                 | Aurora Highlands Community Authority Board                                       | CUSIP: 05164HAV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3560894.40   | 1.27%             | 2051-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BANNING LEWIS RANCH MET DIST #                 | Banning Lewis Ranch Metropolitan District No 8                                   | CUSIP: 06663CAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $1895892.50   | 0.68%             | 2051-12-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| EVANSVILLE IN MF HSG REVENUE                   | City of Evansville IN                                                            | CUSIP: 299351AG1<br>LEI: 5493004FNKVUBIYGJO12 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1230843.60   | 0.44%             | 2038-01-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| FALMOUTH KY SOL WST DISP FACS                  | City of Falmouth KY Solid Waste Disposal Facilities Revenue                      | CUSIP: 306767AA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8875000 | PA      | $8231207.50   | 2.94%             | 2040-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| First American Government Obli                 | First American Government Obligations Fund                                       | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |       216 | NS      | $215.78       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| FLORIDA ST DEV FIN CORP SENIOR                 | Florida Development Finance Corp                                                 | CUSIP: 34061WBZ6<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   5025000 | PA      | $5273737.50   | 1.88%             | 2056-11-15      | Fixed         | 12.00%                | No            |                  3 | On Loan: No      |
| FOUR CORNERS BUSINESS IMPT DIS                 | Four Corners Business Improvement District                                       | CUSIP: 35084NAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $892935.70    | 0.32%             | 2052-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GOSHEN IN MF HSG REVENUE                       | City of Goshen IN                                                                | CUSIP: 38327MAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $1942029.50   | 0.69%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GRANDVIEW RESERVE MET DIST #3                  | Grandview Reserve Metropolitan District No 3                                     | CUSIP: 386810AA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1378925.85   | 0.49%             | 2052-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| GRANDVIEW RESERVE MET DIST #3                  | Grandview Reserve Metropolitan District No 3                                     | CUSIP: 386810AB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $945051.00    | 0.34%             | 2052-12-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| BRAZORIA CNTY TX INDL DEV CORP                 | Brazoria County Industrial Development Corp                                      | CUSIP: 10604PAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4400000 | PA      | $4649639.28   | 1.66%             | 2039-03-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| BRAZORIA CNTY TX INDL DEV CORP                 | Brazoria County Industrial Development Corp                                      | CUSIP: 10604PAB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3400000 | PA      | $3592903.08   | 1.28%             | 2039-03-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| BRAZORIA CNTY TX INDL DEV CORP                 | Brazoria County Industrial Development Corp                                      | CUSIP: 10604PAC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1157487.13   | 0.41%             | 2039-03-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CALHOUN CNTY TX NAVIGATION IND                 | Calhoun County Navigation Industrial Development Authority                       | CUSIP: 129729AC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1349049.30   | 0.48%             | 2026-07-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| CALHOUN CNTY TX NAVIGATION IND                 | Calhoun County Navigation Industrial Development Authority                       | CUSIP: 129729AD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $934627.80    | 0.33%             | 2026-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST POLL CONTROL FIN                 | California Pollution Control Financing Authority                                 | CUSIP: 130536QY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $500000.00    | 0.18%             | 2022-12-31      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| HARDEEVILLE SC ASSMNT REVENUE                  | City of Hardeeville SC                                                           | CUSIP: 411716AF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $752117.08    | 0.27%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST HSG DEV AUTH REVEN                 | Illinois Housing Development Authority                                           | CUSIP: 45201YR90<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $958598.00    | 0.34%             | 2028-08-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH CHRT SCHR                 | Illinois Finance Authority                                                       | CUSIP: 452022BU9<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2230402.50   | 0.80%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH CHRT SCHR                 | Illinois Finance Authority                                                       | CUSIP: 452022BW5<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    305000 | PA      | $289380.89    | 0.10%             | 2024-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST POLL CONTROL FIN                 | California Pollution Control Financing Authority                                 | CUSIP: 130536RA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3845000 | PA      | $1922500.00   | 0.69%             | 2039-07-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST POLL CONTROL FIN                 | California Pollution Control Financing Authority                                 | CUSIP: 130536RK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $125000.00    | 0.04%             | 2039-12-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST POLL CONTROL FIN                 | California Pollution Control Financing Authority                                 | CUSIP: 130536RM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5065000 | PA      | $2937700.00   | 1.05%             | 2032-07-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH MF REVENU                 | Illinois Finance Authority                                                       | CUSIP: 45202LCE2<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1220000 | PA      | $12.20        | 0.00%             | 2053-12-01      | Fixed         | 5.80%                 | No            |                  3 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE                   | Illinois Finance Authority                                                       | CUSIP: 45204EJ33<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2443601.25   | 0.87%             | 2049-04-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE                   | Illinois Finance Authority                                                       | CUSIP: 45204FSN6<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1026473.50   | 0.37%             | 2047-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH EXEMPT FAC                 | Indiana Finance Authority                                                        | CUSIP: 45470DAA5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   6360000 | PA      | $4796229.91   | 1.71%             | 2039-03-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| IOWA ST FIN AUTH SENIOR LIVING                 | Iowa Finance Authority                                                           | CUSIP: 46247CCC1<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $787492.80    | 0.28%             | 2051-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA ST FIN AUTH REVENUE                       | Iowa Finance Authority                                                           | CUSIP: 46247SBQ6<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   3575000 | PA      | $2717446.52   | 0.97%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY TX INDL DEV COR                 | Jefferson County Industrial Development Corp/TX                                  | CUSIP: 47353PAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $837292.10    | 0.30%             | 2039-04-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| KENTUCKY BOND DEV CORP EDUCTNL                 | Kentucky Bond Development Corp                                                   | CUSIP: 49120AAV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1201587.62   | 0.43%             | 2046-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KNOX CNTY TN INDL DEV BRD SOL                  | Knox County Industrial Development Board                                         | CUSIP: 499534AC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002441.20   | 0.36%             | 2052-11-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| KOUNTZE TX ECON DEV CORP INDL                  | Kountze Economic Development Corp                                                | CUSIP: 500726AA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3550000 | PA      | $3488455.43   | 1.24%             | 2027-11-01      | Fixed         | 15.00%                | No            |                  2 | On Loan: No      |
| LA GRANGE GA DEV AUTH                          | Development Authority of Lagrange                                                | CUSIP: 503152DF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2641770.00   | 0.94%             | 2052-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LA PAZ CNTY AZ INDL DEV AUTH I                 | La Paz County Industrial Development Authority                                   | CUSIP: 50375EBC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1535000 | PA      | $856157.15    | 0.31%             | 2040-12-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| LAKE CNTY FL SENIOR LIVING REV                 | County of Lake FL                                                                | CUSIP: 50832PAB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5800000 | PA      | $4524000.00   | 1.61%             | 2052-01-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| LEDGE ROCK CENTER COMMERCIAL M                 | Ledge Rock Center Commercial Metropolitan District                               | CUSIP: 523278AD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $982157.10    | 0.35%             | 2052-11-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| LEDGE ROCK CENTER COMMERCIAL M                 | Ledge Rock Center Commercial Metropolitan District                               | CUSIP: 523278AE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $981498.90    | 0.35%             | 2052-11-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| LEGATO CMNTY AUTH CO LTD TAX S                 | Legato Community Authority                                                       | CUSIP: 52473TAF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1760704.40   | 0.63%             | 2051-12-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUB FACS AUTH REVENU                 | Louisiana Public Facilities Authority                                            | CUSIP: 546399KW5<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $852355.70    | 0.30%             | 2041-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUB FACS AUTH REVENU                 | Louisiana Public Facilities Authority                                            | CUSIP: 546399KX3<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $835387.60    | 0.30%             | 2051-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUB FACS AUTH REVENU                 | Louisiana Public Facilities Authority                                            | CUSIP: 546399KY1<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1216573.05   | 0.43%             | 2060-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUB FACS AUTH REVENU                 | Louisiana Public Facilities Authority                                            | CUSIP: 546399PH3<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    770000 | PA      | $735145.41    | 0.26%             | 2052-06-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUB FACS AUTH REVENU                 | Louisiana Public Facilities Authority                                            | CUSIP: 546399PL4<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    480000 | PA      | $459852.00    | 0.16%             | 2037-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUB FACS AUTH REVENU                 | Louisiana Public Facilities Authority                                            | CUSIP: 546399PM2<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $944892.80    | 0.34%             | 2052-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| LSC ESTERO PRIME LN 2022A LLC PROM NT 2022A 23 | LSC ESTERO PRIME LN 2022A LLC PROM NT 2022A 23                                   | CUSIP: 54915DAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1250000.00   | 0.45%             | 2023-04-30      | Fixed         | 12.00%                | No            |                  3 | On Loan: No      |
| MAINE ST FIN AUTH                              | Finance Authority of Maine                                                       | CUSIP: 56042BBU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5500000 | PA      | $3782882.95   | 1.35%             | 2051-12-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY AZ INDL DEV AUTH                 | Maricopa County Industrial Development Authority                                 | CUSIP: 56682PBU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1595000 | PA      | $1128824.41   | 0.40%             | 2048-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R                 | Massachusetts Development Finance Agency                                         | CUSIP: 57584YQ44<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1023016.50   | 0.36%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET GOVT NASHVILLE & DAVIDSON                  | Metropolitan Government Nashville & Davidson County Health & Educational Facs Bd | CUSIP: 59212TAJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1140000 | PA      | $74100.00     | 0.03%             | 2049-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST FIN AUTH LTD OBLIG                 | Michigan Finance Authority                                                       | CUSIP: 594479GQ4<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1435000 | PA      | $1209651.33   | 0.43%             | 2046-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI DEV BK SPL OBLIG                   | Mississippi Development Bank                                                     | CUSIP: 60534XKC9<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $790129.50    | 0.28%             | 2036-11-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| NEW YORK CNTYS NY TOBACCO TRUS                 | New York Counties Tobacco Trust IV                                               | CUSIP: 62947YAK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  50000000 | PA      | $2491840.00   | 0.89%             | 2060-06-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL EDU FACS FIN                 | New Hope Cultural Education Facilities Finance Corp                              | CUSIP: 64542PGD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2247744.75   | 0.80%             | 2031-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FINC                 | New Hope Cultural Education Facilities Finance Corp                              | CUSIP: 64542UFR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2318822 | PA      | $1071566.60   | 0.38%             | 2061-11-15      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN                  | New Hope Cultural Education Facilities Finance Corp                              | CUSIP: 64542UGE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1451243.10   | 0.52%             | 2033-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH EC                 | New Jersey Economic Development Authority                                        | CUSIP: 64577HSU6<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |     65000 | PA      | $61635.81     | 0.02%             | 2047-09-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES                 | New York State Dormitory Authority                                               | CUSIP: 65000BLP1<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    350000 | PA      | $304498.64    | 0.11%             | 2047-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OREGON ST BUSINESS DEV COMMISS                 | Oregon State Business Development Commission                                     | CUSIP: 68608GAD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12500000 | PA      | $912500.00    | 0.33%             | 2031-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| OREGON ST BUSINESS DEV COMMISS                 | Oregon State Business Development Commission                                     | CUSIP: 68608GAE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6050000 | PA      | $441650.00    | 0.16%             | 2031-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| OREGON ST BUSINESS DEV COMMISS                 | Oregon State Business Development Commission                                     | CUSIP: 68608GAJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3200000 | PA      | $233600.00    | 0.08%             | 2037-04-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING                  | Pennsylvania Economic Development Financing Authority                            | CUSIP: 708692BS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4558867.20   | 1.63%             | 2051-04-01      | Variable      | 9.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING                  | Pennsylvania Economic Development Financing Authority                            | CUSIP: 70869PLY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2950000 | PA      | $1121000.00   | 0.40%             | 2038-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING                  | Pennsylvania Economic Development Financing Authority                            | CUSIP: 70869PLZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2650000 | PA      | $1007000.00   | 0.36%             | 2053-12-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PIMA CNTY AZ INDL DEV AUTH SEN                 | Industrial Development Authority of the County of Pima/The                       | CUSIP: 72178AAK8<br>LEI: 549300QDTQ25545R4K19 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2010249.20   | 0.72%             | 2031-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| PORT BEAUMONT TX NAV DIST DOCK                 | Port Beaumont Navigation District                                                | CUSIP: 73360CAB0<br>LEI: 549300G8PKBXALUKJY33 | Long             | DBT              | MUN               | US        |   7595000 | PA      | $7263176.73   | 2.59%             | 2039-02-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI CHRT SCH RE                 | Public Finance Authority                                                         | CUSIP: 744396HM7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1900000 | PA      | $1963914.10   | 0.70%             | 2052-06-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI CHRT SCH RE                 | Public Finance Authority                                                         | CUSIP: 744396HS4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    600000 | PA      | $573740.34    | 0.20%             | 2052-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI HOSP REVENU                 | Public Finance Authority                                                         | CUSIP: 74442CCB8<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |  12425000 | PA      | $10355764.11  | 3.69%             | 2050-01-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI EDU REVENUE                 | Public Finance Authority                                                         | CUSIP: 74442EJU5<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1425000 | PA      | $1434518.29   | 0.51%             | 2025-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI EDU REVENUE                 | Public Finance Authority                                                         | CUSIP: 74442EJV3<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $974649.20    | 0.35%             | 2025-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI EDU REVENUE                 | Public Finance Authority                                                         | CUSIP: 74442EJX9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    900000 | PA      | $832360.95    | 0.30%             | 2052-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                     | Public Finance Authority                                                         | CUSIP: 74442PEV3<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    400000 | PA      | $313698.84    | 0.11%             | 2047-10-01      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                     | Public Finance Authority                                                         | CUSIP: 74442PFS9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    500000 | PA      | $510596.30    | 0.18%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                     | Public Finance Authority                                                         | CUSIP: 74442PSG1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $747241.60    | 0.27%             | 2056-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI EDUCTNL FAC                 | Public Finance Authority                                                         | CUSIP: 74443DCL3<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1353385.29   | 0.48%             | 2048-02-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI EDUCTNL FAC                 | Public Finance Authority                                                         | CUSIP: 74443DGE5<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2545000 | PA      | $2024967.93   | 0.72%             | 2045-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI SPL FAC REV                 | Public Finance Authority                                                         | CUSIP: 74446DAC2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2980000 | PA      | $2653751.98   | 0.95%             | 2041-06-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI SPL FAC REV                 | Public Finance Authority                                                         | CUSIP: 74446DAE8<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   9250000 | PA      | $8974720.00   | 3.20%             | 2046-09-01      | Variable      | 7.05%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI SR LIVING C                 | Public Finance Authority                                                         | CUSIP: 74446GAB7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1210000 | PA      | $1053623.96   | 0.38%             | 2039-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI SR LIVING C                 | Public Finance Authority                                                         | CUSIP: 74446GAC5<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   7950000 | PA      | $6675829.65   | 2.38%             | 2054-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                             | Commonwealth of Puerto Rico                                                      | CUSIP: 74514L4C8<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |  13537753 | PA      | $6058144.27   | 2.16%             | 2051-11-01      | Variable      | 1.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                             | Commonwealth of Puerto Rico                                                      | CUSIP: 74514L4G9<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   2397090 | PA      | $850967.10    | 0.30%             | 2051-11-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO HIGHWAY & TRANSPRT                 | Puerto Rico Highway & Transportation Authority                                   | CUSIP: 7451902S6<br>LEI: 549300J6QBXVWJXB7Y41 | Long             | DBT              | MUN               | US        |   2045000 | PA      | $414112.50    | 0.15%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO HIGHWAY & TRANSPRT                 | Puerto Rico Highway & Transportation Authority                                   | CUSIP: 7451902T4<br>LEI: 549300J6QBXVWJXB7Y41 | Long             | DBT              | MUN               | US        |   2305000 | PA      | $466762.50    | 0.17%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO HIGHWAY & TRANSPRT                 | Puerto Rico Highway & Transportation Authority                                   | CUSIP: 7451903D8<br>LEI: 549300J6QBXVWJXB7Y41 | Long             | DBT              | MUN               | US        |   5530000 | PA      | $1119825.00   | 0.40%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO HIGHWAY & TRANSPRT                 | Puerto Rico Highway & Transportation Authority                                   | CUSIP: 7451903V8<br>LEI: 549300J6QBXVWJXB7Y41 | Long             | DBT              | MUN               | US        |    235000 | PA      | $47587.50     | 0.02%             | 2035-07-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO HIGHWAY & TRANSPRT                 | Puerto Rico Highway & Transportation Authority                                   | CUSIP: 745190HK7<br>LEI: 549300J6QBXVWJXB7Y41 | Long             | DBT              | MUN               | US        |     75000 | PA      | $15187.50     | 0.01%             | 2024-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO HIGHWAY & TRANSPRT                 | Puerto Rico Highway & Transportation Authority                                   | CUSIP: 745190K56<br>LEI: 549300J6QBXVWJXB7Y41 | Long             | DBT              | MUN               | US        |    125000 | PA      | $25312.50     | 0.01%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO HIGHWAY & TRANSPRT                 | Puerto Rico Highway & Transportation Authority                                   | CUSIP: 745190LA4<br>LEI: 549300J6QBXVWJXB7Y41 | Long             | DBT              | MUN               | US        |     50000 | PA      | $10000.00     | 0.00%             | 2022-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO HIGHWAY & TRANSPRT                 | Puerto Rico Highway & Transportation Authority                                   | CUSIP: 745190LB2<br>LEI: 549300J6QBXVWJXB7Y41 | Long             | DBT              | MUN               | US        |    110000 | PA      | $22275.00     | 0.01%             | 2023-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO HIGHWAY & TRANSPRT                 | Puerto Rico Highway & Transportation Authority                                   | CUSIP: 745190QM3<br>LEI: 549300J6QBXVWJXB7Y41 | Long             | DBT              | MUN               | US        |     85000 | PA      | $17000.00     | 0.01%             | 2022-12-31      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO HIGHWAY & TRANSPRT                 | Puerto Rico Highway & Transportation Authority                                   | CUSIP: 745190QR2<br>LEI: 549300J6QBXVWJXB7Y41 | Long             | DBT              | MUN               | US        |    145000 | PA      | $29362.50     | 0.01%             | 2024-07-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO HIGHWAY & TRANSPRT                 | Puerto Rico Highway & Transportation Authority                                   | CUSIP: 745190TE8<br>LEI: 549300J6QBXVWJXB7Y41 | Long             | DBT              | MUN               | US        |    260000 | PA      | $52000.00     | 0.02%             | 2022-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO HIGHWAY & TRANSPRT                 | Puerto Rico Highway & Transportation Authority                                   | CUSIP: 745190TF5<br>LEI: 549300J6QBXVWJXB7Y41 | Long             | DBT              | MUN               | US        |    100000 | PA      | $20000.00     | 0.01%             | 2022-12-31      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO HIGHWAY & TRANSPRT                 | Puerto Rico Highway & Transportation Authority                                   | CUSIP: 745190TJ7<br>LEI: 549300J6QBXVWJXB7Y41 | Long             | DBT              | MUN               | US        |     55000 | PA      | $11000.00     | 0.00%             | 2022-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO HIGHWAY & TRANSPRT                 | Puerto Rico Highway & Transportation Authority                                   | CUSIP: 745190TR9<br>LEI: 549300J6QBXVWJXB7Y41 | Long             | DBT              | MUN               | US        |   2270000 | PA      | $459675.00    | 0.16%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO HIGHWAY & TRANSPRT                 | Puerto Rico Highway & Transportation Authority                                   | CUSIP: 745190YE2<br>LEI: 549300J6QBXVWJXB7Y41 | Long             | DBT              | MUN               | US        |    130000 | PA      | $26000.00     | 0.01%             | 2022-12-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO HIGHWAY & TRANSPRT                 | Puerto Rico Highway & Transportation Authority                                   | CUSIP: 745190YL6<br>LEI: 549300J6QBXVWJXB7Y41 | Long             | DBT              | MUN               | US        |     95000 | PA      | $19237.50     | 0.01%             | 2023-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO HIGHWAY & TRANSPRT                 | Puerto Rico Highway & Transportation Authority                                   | CUSIP: 745190YR3<br>LEI: 549300J6QBXVWJXB7Y41 | Long             | DBT              | MUN               | US        |    355000 | PA      | $71887.50     | 0.03%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO HIGHWAY & TRANSPRT                 | Puerto Rico Highway & Transportation Authority                                   | CUSIP: 745190YT9<br>LEI: 549300J6QBXVWJXB7Y41 | Long             | DBT              | MUN               | US        |    565000 | PA      | $114412.50    | 0.04%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO HIGHWAY & TRANSPRT                 | Puerto Rico Highway & Transportation Authority                                   | CUSIP: 745190YV4<br>LEI: 549300J6QBXVWJXB7Y41 | Long             | DBT              | MUN               | US        |    215000 | PA      | $43537.50     | 0.02%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO HIGHWAY & TRANSPRT                 | Puerto Rico Highway & Transportation Authority                                   | CUSIP: 745190YY8<br>LEI: 549300J6QBXVWJXB7Y41 | Long             | DBT              | MUN               | US        |   3520000 | PA      | $712800.00    | 0.25%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO HIGHWAY & TRANSPRT                 | Puerto Rico Highway & Transportation Authority                                   | CUSIP: 745190ZD3<br>LEI: 549300J6QBXVWJXB7Y41 | Long             | DBT              | MUN               | US        |     85000 | PA      | $17000.00     | 0.01%             | 2022-12-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO HIGHWAY & TRANSPRT                 | Puerto Rico Highway & Transportation Authority                                   | CUSIP: 745190ZE1<br>LEI: 549300J6QBXVWJXB7Y41 | Long             | DBT              | MUN               | US        |    400000 | PA      | $81000.00     | 0.03%             | 2023-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO HIGHWAY & TRANSPRT                 | Puerto Rico Highway & Transportation Authority                                   | CUSIP: 745190ZF8<br>LEI: 549300J6QBXVWJXB7Y41 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $810000.00    | 0.29%             | 2024-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO INDL TOURIST EDUCT                 | Puerto Rico Industrial Tourist Educational Medical & Envirml Ctl Facs Fing Auth  | CUSIP: 74527JAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $113948.30    | 0.04%             | 2026-06-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| RED BRIDGE PUBLIC INFRASTRUCTU                 | Red Bridge Public Infrastructure District No 1                                   | CUSIP: 756423AC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1514444.00   | 0.54%             | 2051-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TX EDU FACS CORP R                 | San Antonio Education Facilities Corp                                            | CUSIP: 796247DX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    840000 | PA      | $726322.55    | 0.26%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TX EDU FACS CORP R                 | San Antonio Education Facilities Corp                                            | CUSIP: 796247DY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $813383.80    | 0.29%             | 2051-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TX EDU FACS CORP R                 | San Antonio Education Facilities Corp                                            | CUSIP: 796247DZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $335987.65    | 0.12%             | 2028-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SHELBY CNTY TN HLTH EDUCTNL &                  | Shelby County Health Educational & Housing Facilities Board                      | CUSIP: 82170KAG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2579464.20   | 0.92%             | 2059-10-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SIERRA VISTA AZ INDL DEV AUTH                  | Sierra Vista Industrial Development Authority                                    | CUSIP: 82652PAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $1360847.40   | 0.49%             | 2056-10-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| SIERRA VISTA AZ INDL DEV AUTH                  | Sierra Vista Industrial Development Authority                                    | CUSIP: 82652PAB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1219559.25   | 0.43%             | 2036-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SIERRA VISTA AZ INDL DEV AUTH                  | Sierra Vista Industrial Development Authority                                    | CUSIP: 82652PAC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $779361.50    | 0.28%             | 2056-10-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE                 | South Carolina Jobs-Economic Development Authority                               | CUSIP: 837031WH2<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |     50000 | PA      | $48104.97     | 0.02%             | 2027-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE                 | South Carolina Jobs-Economic Development Authority                               | CUSIP: 837031WQ2<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   6150000 | PA      | $6706055.94   | 2.39%             | 2057-10-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE                 | South Carolina Jobs-Economic Development Authority                               | CUSIP: 837031YR8<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $2684233.30   | 0.96%             | 2039-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE                 | South Carolina Jobs-Economic Development Authority                               | CUSIP: 83704DAB2<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $400000.00    | 0.14%             | 2035-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE                 | South Carolina Jobs-Economic Development Authority                               | CUSIP: 83704DAF3<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1425000.00   | 0.51%             | 2038-11-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE                 | South Carolina Jobs-Economic Development Authority                               | CUSIP: 83704DAM8<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1435460.80   | 0.51%             | 2051-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE                 | South Carolina Jobs-Economic Development Authority                               | CUSIP: 83704MBY1<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    920000 | PA      | $804840.01    | 0.29%             | 2041-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-30

**Name of Applicant:** Managed Portfolio Series

**Signature:** /s/ Douglas Schafer

**Name of Signer:** Managed Portfolio Series

**Title:** VP & Asst. Treasurer