# EDGAR Filing Document

**Accession Number:** 0001563696
**File Stem:** 0001752724-23-069893
**Filing Date:** 2023-3
**Character Count:** 61068
**Document Hash:** c684a0043d2c0a123b6703d96f1fb98e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-069893.hdr.sgml**: 20230328

**ACCESSION NUMBER**: 0001752724-23-069893

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230328

**DATE AS OF CHANGE**: 20230328

**PERIOD START**: 20230131

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Eaton Vance Municipal Income 2028 Term Trust
- **CENTRAL INDEX KEY:** 0001563696
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0131

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22777
- **FILM NUMBER:** 23768483

**BUSINESS ADDRESS:**
- **STREET 1:** TWO INTERNATIONAL PLACE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 800-225-6265

**MAIL ADDRESS:**
- **STREET 1:** TWO INTERNATIONAL PLACE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Eaton Vance Municipal Income Term Trust
- **DATE OF NAME CHANGE:** 20121205

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Eaton Vance Municipal Income 2028 Term Trust

- **b. Investment Company Act file number:** 811-22777

- **c. CIK number of Registrant:** 0001563696

- **d. LEI of Registrant:** 549300MBQTU3LRVTCH04

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

  - **Street Address 1:** TWO INTERNATIONAL PLACE

  - **City:** BOSTON

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02110

  - **Telephone number:** 617-482-8260

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

- **a. Name of Series:** Eaton Vance Municipal Income 2028 Term Trust

- **c. LEI of Series:** 549300MBQTU3LRVTCH04

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

- **a. Date of fiscal year-end:** 2023-01-31

- **b. Date as of which information is reported:** 2023-01-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $313183209.41

**Total Liabilities:** $103840886.07

**Net Assets:** $209342323.34

**Delayed Delivery Securities:** $1737681.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -810.82000000 | **1-Year:** -11938.47000000 | **5-Year:** -60929.66000000 | **10-Year:** -54045.99000000 | **30-Year:** -4438.58000000

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

- **3-Month:** -114.16000000 | **1-Year:** -4241.84000000 | **5-Year:** -8742.78000000 | **10-Year:** -7767.90000000 | **30-Year:** -0.90000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 2.99%                | -0.03%               | 2.03%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-266741.51              | $5704534.50                                |
| Month 2  | $-531.87                 | $-595368.76                                |
| Month 3  | $3823.55                 | $3566249.31                                |

### Schedule of Portfolio Investments

| Name                                                          | Title                                                        | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| New Jersey Economic Development Authority                     | NEW JERSEY ST ECON DEV AUTH REVENUE                          | CUSIP: 645918Z97<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1340000 | PA      | $1358719.80   | 0.65%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Riverside Community College District                          | RIVERSIDE CA CMNTY CLG DIST                                  | CUSIP: 76886PFN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1173600.00   | 0.56%             | 2029-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Matagorda County Navigation District No 1                     | MATAGORDA CNTY TX NAV DIST #1                                | CUSIP: 576528DP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    540000 | PA      | $540831.60    | 0.26%             | 2030-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Buckeye Tobacco Settlement Financing Authority                | BUCKEYE OH TOBACCO SETTLEMENT FING AUTH                      | CUSIP: 118217CN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2199080.00   | 1.05%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bucks County Industrial Development Authority                 | BUCKS CNTY PA INDL DEV AUTH HOSP REVENUE                     | CUSIP: 11861MAX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $582807.50    | 0.28%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE            | CUSIP: 09182TAF4<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1252525.00   | 0.60%             | 2052-10-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Bullhead AZ Excise Taxes Revenue                      | BULLHEAD CITY AZ EXCISE TAX REVENUE                          | CUSIP: 12022MAV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    485000 | PA      | $445278.50    | 0.21%             | 2028-07-01      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                      | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116AL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4073560.00   | 1.95%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Washington                                           | WASHINGTON ST                                                | CUSIP: 93974C8H6<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10067800.00  | 4.81%             | 2029-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Clackamas Community College District                          | CLACKAMAS OR CMNTY CLG DIST                                  | CUSIP: 179390NA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $787750.00    | 0.38%             | 2029-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| City of Detroit MI                                            | DETROIT MI                                                   | CUSIP: 2510933F5<br>LEI: 549300BQRJP7MKKHOY28 | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1788995.00   | 0.85%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Vermont Economic Development Authority                        | VERMONT ST ECON DEV AUTH SOLID WST DISP REVENUE              | CUSIP: 924157AC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1508730.00   | 0.72%             | 2052-06-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Chandler Industrial Development Authority                     | CHANDLER AZ INDL DEV AUTH INDL DEV REVENUE                   | CUSIP: 158862CB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2384302.50   | 1.14%             | 2052-09-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Hospital Facilities Authority of Multnomah County Oregon      | MULTNOMAH CNTY OR HOSP FACS AUTH REVENUE                     | CUSIP: 62551PCF2<br>LEI: 549300GAP0JIG7V33754 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1503090.00   | 0.72%             | 2034-10-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                     | NEW JERSEY ST ECON DEV AUTH REVENUE                          | CUSIP: 64577B4U5<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3351360.00   | 1.60%             | 2028-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Pier & Exposition Authority                      | MET PIER & EXPOSITION AUTH IL REVENUE                        | CUSIP: 592250FF6<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1051810.00   | 0.50%             | 2027-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Vermont Economic Development Authority                        | VERMONT ST ECON DEV AUTH SOLID WST DISP REVENUE              | CUSIP: 924157AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $103735.80    | 0.05%             | 2036-04-01      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                      | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PAX3<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    750000 | PA      | $748530.00    | 0.36%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                          | DIST OF COLUMBIA REVENUE                                     | CUSIP: 25483VUU6<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    465000 | PA      | $477638.70    | 0.23%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Clovis Unified School District                                | CLOVIS CA UNIF SCH DIST                                      | CUSIP: 189342ZN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2395000 | PA      | $1875428.70   | 0.90%             | 2029-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                      | CUSIP: 646136ER8<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   9095000 | PA      | $7575589.30   | 3.62%             | 2028-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Vermont Economic Development Authority                        | VERMONT ST ECON DEV AUTH MTGEREVENUE                         | CUSIP: 92415TBN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $750225.00    | 0.36%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL                                            | CHICAGO IL                                                   | CUSIP: 167486VV8<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1090450.00   | 0.52%             | 2033-01-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                 | MASSACHUSETTS ST EDUCTNL FING AUTH                           | CUSIP: 57563RLR8<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3100320.00   | 1.48%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Luzerne PA                                          | LUZERNE CNTY PA                                              | CUSIP: 550697VF0<br>LEI: 5493001Z1Y4QDISEER29 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2126560.00   | 1.02%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ohio Air Quality Development Authority                        | OHIO ST AIR QUALITY DEV AUTH                                 | CUSIP: 677525WU7<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023100.00   | 0.49%             | 2030-09-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Rockville MD                                          | ROCKVILLE MD MAYOR & COUNCIL ECON DEV REVENUE                | CUSIP: 774223AX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1091222.00   | 0.52%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kalispel Tribe of Indians                                     | KALISPEL TRIBE OF INDIANS PRIORITY DIST WA REVENUE           | CUSIP: 48340PAR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    695000 | PA      | $726427.90    | 0.35%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                     | NEW JERSEY ST ECON DEV AUTH REV                              | CUSIP: 64577XDS2<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    675000 | PA      | $794211.75    | 0.38%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Northeast Ohio Regional Sewer District                        | NORTHEAST OH REGL SWR DIST                                   | CUSIP: 663903EL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7500000 | PA      | $7532325.00   | 3.60%             | 2033-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Rickenbacker Port Authority                                   | RICKENBACKER PORT AUTH OH CAPITAL FUNDING REVENUE            | CUSIP: 765639AB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1160000 | PA      | $1366712.00   | 0.65%             | 2032-01-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                      | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116CX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3013410.00   | 1.44%             | 2030-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                          | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FBR4<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    250000 | PA      | $253132.50    | 0.12%             | 2028-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority               | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE  | CUSIP: 13013JBL9<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1068210.00   | 0.51%             | 2053-12-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                   | PUERTO RICO CMWLTH                                           | CUSIP: 74514L3G0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2097220.00   | 1.00%             | 2027-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                          | PUERTO RICO ELEC PWR AUTH PWR REVENUE                        | CUSIP: 74526QPN6<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5060950.00   | 2.42%             | 2030-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                     | HOUSTON TX ARPT SYS REVENUE                                  | CUSIP: 4423487H5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1470000 | PA      | $1485684.90   | 0.71%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                         | MET TRANSPRTN AUTH NY REVENUE                                | CUSIP: 59261AG68<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2460735.00   | 1.18%             | 2045-11-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Savannah Economic Development Authority                       | SAVANNAH GA ECON DEV AUTH                                    | CUSIP: 80483CLH2<br>LEI: 549300Q7LO1N6BCXOD30 | Long             | DBT              | MUN               | US        |     85000 | PA      | $87603.55     | 0.04%             | 2024-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Grand Parkway Transportation Corp                             | GRAND PARKWAY TRANSPRTN CORP TX SYS TOLL REVENUE             | CUSIP: 38611TAH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2227000.00   | 1.06%             | 2031-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Tempe Industrial Development Authority                        | TEMPE AZ INDL DEV AUTH REVENUE                               | CUSIP: 87972MAV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $872964.00    | 0.42%             | 2027-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Franklin County Industrial Development Authority/PA           | FRANKLIN CNTY PA INDL DEV AUTH REVENUE                       | CUSIP: 353273BP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $240032.50    | 0.11%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| McHenry County Community Unit School District No 12 Johnsburg | MCHENRY CNTY IL CMNTY UNIT SCH DIST #12 JOHNSBURG            | CUSIP: 580849HH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1230000 | PA      | $1252828.80   | 0.60%             | 2029-01-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finance Corp     | TARRANT CNTY TX CULTURAL EDU FACS FIN CORP HOSP REVENUE      | CUSIP: 87638QGX1<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10044500.00  | 4.80%             | 2032-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Jefferson AL Sewer Revenue                          | JEFFERSON CNTY AL SWR REVENUE WARRANTS                       | CUSIP: 472682QR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1225000 | PA      | $868341.25    | 0.41%             | 2029-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Delaware State Health Facilities Authority                    | DELAWARE ST HLTH FACS AUTH REVENUE                           | CUSIP: 246388RC8<br>LEI: 549300RXU7M05ZYSJG42 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2526450.00   | 1.21%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                    | MICHIGAN ST FIN AUTH REVENUE                                 | CUSIP: 59447TDZ3<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    895000 | PA      | $904200.60    | 0.43%             | 2029-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Industrial Development Authority of the County of Yavapai/The | YAVAPAI CNTY AZ INDL DEV AUTH HOSP FAC                       | CUSIP: 985900DG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1511400.00   | 0.72%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Warren OH                                           | WARREN CNTY OH HLTH CARE FACS REVENUE                        | CUSIP: 93515PAV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1212444.00   | 0.58%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Atlantic City NJ                                      | ATLANTIC CITY NJ                                             | CUSIP: 048339UG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2105000 | PA      | $2209997.40   | 1.06%             | 2028-03-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| St Louis County Industrial Development Authority              | SAINT LOUIS CNTY MO INDL DEV AUTH SENIOR LIVING FACS         | CUSIP: 791524CL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    635000 | PA      | $648601.70    | 0.31%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Grossmont Union High School District                          | GROSSMONT CA UNION HIGH SCH DIST                             | CUSIP: 399262JW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3106640.00   | 1.48%             | 2029-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                          | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FGE8<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    410000 | PA      | $412747.00    | 0.20%             | 2030-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lancaster County Hospital Authority/PA                        | LANCASTER CNTY PA HOSP AUTH                                  | CUSIP: 514045R96<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1025000 | PA      | $1008138.75   | 0.48%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Matagorda County Navigation District No 1                     | MATAGORDA CNTY TX NAV DIST #1                                | CUSIP: 576528DQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3004620.00   | 1.44%             | 2030-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Riverside Community College District                          | RIVERSIDE CA CMNTY CLG DIST                                  | CUSIP: 76886PFP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $929450.00    | 0.44%             | 2030-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                    | ILLINOIS ST FIN AUTH REVENUE                                 | CUSIP: 45203H6H0<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2912112.50   | 1.39%             | 2030-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Buffalo & Erie County Industrial Land Development Corp        | BUFFALO & ERIE CNTY NY INDL LAND DEV CORP REVENUE            | CUSIP: 11943KCN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1360000 | PA      | $1394353.60   | 0.67%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lancaster Industrial Development Authority                    | LANCASTER PA INDL DEV AUTH                                   | CUSIP: 514349CU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $604320.00    | 0.29%             | 2028-05-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                    | MICHIGAN ST FIN AUTH REVENUE                                 | CUSIP: 59447PE98<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5148150.00   | 2.46%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                      | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116FD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2190160.00   | 1.05%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Alameda Corridor Transportation Authority                     | ALAMEDA CA CORRIDOR TRANSPRTN AUTH REVENUE                   | CUSIP: 010869EH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5805000 | PA      | $3720888.90   | 1.78%             | 2031-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Higher Education Student Assistance Authority      | NEW JERSEY ST HGR EDU ASSISTANCE AUTH STUDENT LOAN REVENUE   | CUSIP: 646080RK9<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |    505000 | PA      | $506636.20    | 0.24%             | 2028-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                      | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116CK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1025000 | PA      | $1072416.50   | 0.51%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Higher Educational Facilities Financial Authority     | FLORIDA ST HGR EDUCTNL FACS FINANCIAL AUTH REVENUE           | CUSIP: 34073TKV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    265000 | PA      | $254805.45    | 0.12%             | 2033-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Southeastern Ohio Port Authority                              | S ESTRN OH PORT AUTH HOSP FACS REVENUE                       | CUSIP: 841895AX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    985000 | PA      | $1007507.25   | 0.48%             | 2029-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority              | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                    | CUSIP: 13033L3Y1<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10213500.00  | 4.88%             | 2028-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Nashville Metropolitan Development & Housing Agency           | NASHVILLE MET DEV & HSG AGY TN TAX INCR REVENUE              | CUSIP: 591874AA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    705000 | PA      | $712028.85    | 0.34%             | 2028-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                            | NEW YORK ST DORM AUTH SALES TAX REVENUE                      | CUSIP: 64990AAR6<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10016100.00  | 4.78%             | 2030-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                       | PORT AUTH OF NEW YORK & NEW JERSEY NY                        | CUSIP: 73358WML5<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10002200.00  | 4.78%             | 2036-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                             | ILLINOIS ST                                                  | CUSIP: 452152P21<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1602660.00   | 0.77%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Urban Development Corp                         | NEW YORK ST URBAN DEV CORP REVENUE                           | CUSIP: 650035N46<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |  12000000 | PA      | $12334200.00  | 5.89%             | 2030-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                             | ILLINOIS ST                                                  | CUSIP: 452152YC9<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   3200000 | PA      | $3250976.00   | 1.55%             | 2033-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                    | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505WA0<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3121620.00   | 1.49%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                        | NORTH CAROLINA ST MED CARE COMMISSION RETMNT FACS REVENUE    | CUSIP: 65820YQU3<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    560000 | PA      | $550144.00    | 0.26%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Grand Parkway Transportation Corp                             | GRAND PARKWAY TRANSPRTN CORP TX SYS TOLL REVENUE             | CUSIP: 38611TAF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $884544.00    | 0.42%             | 2029-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| State of Texas                                                | TEXAS ST                                                     | CUSIP: 882723NE5<br>LEI: 549300X9CH74QB747L76 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10177800.00  | 4.86%             | 2023-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Clovis Unified School District                                | CLOVIS CA UNIF SCH DIST                                      | CUSIP: 189342ZM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $820700.00    | 0.39%             | 2028-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Leander Independent School District                           | LEANDER TX INDEP SCH DIST                                    | CUSIP: 521841FN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $3500600.00   | 1.67%             | 2031-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                            | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | CUSIP: 64990BGY3<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1019680.00   | 0.49%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Franklin County Industrial Development Authority/PA           | FRANKLIN CNTY PA INDL DEV AUTH REVENUE                       | CUSIP: 353273BQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $238302.50    | 0.11%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Boone KY                                            | BOONE CNTY KY POLL CONTROL REVENUE                           | CUSIP: 098792AQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $756705.00    | 0.36%             | 2027-08-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| City of Sparks NV                                             | SPARKS NV TOURISM IMPT DIST #1 REVENUE                       | CUSIP: 846562AD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $909920.00    | 0.43%             | 2028-06-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Scottsdale Municipal Property Corp                            | SCOTTSDALE AZ MUNI PROPERTY CORP EXCISE TAX REVENUE          | CUSIP: 810489RT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5680000 | PA      | $5916969.60   | 2.83%             | 2031-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Ohio Air Quality Development Authority                        | OHIO ST AIR QUALITY DEV AUTH EXEMPT FACS REVENUE             | CUSIP: 67754AAC8<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |    780000 | PA      | $778237.20    | 0.37%             | 2028-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| New Jersey Higher Education Student Assistance Authority      | NEW JERSEY ST HGR EDU ASSISTANCE AUTH STUDENT LOAN REVENUE   | CUSIP: 646080PX3<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |    360000 | PA      | $360061.20    | 0.17%             | 2028-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency Inc                                      | CAPITAL TRUST AGY FL EDUCTNL FACS REVENUE                    | CUSIP: 14054CAZ2<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    505000 | PA      | $498581.45    | 0.24%             | 2028-06-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finance Corp     | TARRANT CNTY TX CULTURAL EDU FACS FIN CORP RETMNT FAC REVENU | CUSIP: 87638RKE6<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |    540000 | PA      | $535626.00    | 0.26%             | 2031-11-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Scottsdale Municipal Property Corp                            | SCOTTSDALE AZ MUNI PROPERTY CORP EXCISE TAX REVENUE          | CUSIP: 810489RS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2083440.00   | 1.00%             | 2030-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pinellas County Educational Facilities Authority              | PINELLAS CNTY FL EDUCTNL FACS AUTH                           | CUSIP: 723161GY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $452622.85    | 0.22%             | 2028-12-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finance Corp     | TARRANT CNTY TX CULTURAL EDU FACS FIN CORP REVENUE           | CUSIP: 87638TET6<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   1045000 | PA      | $1060873.55   | 0.51%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                     | NEW JERSEY ST ECON DEV AUTH SPL FAC REVENUE                  | CUSIP: 64578CBW0<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1355000 | PA      | $1387547.10   | 0.66%             | 2030-11-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                   | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE            | CUSIP: 56035DEN8<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1752283.50   | 0.84%             | 2053-06-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Portland Community College District                           | PORTLAND OR CMNTY CLG DIST                                   | CUSIP: 736688JK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10250000 | PA      | $10281980.00  | 4.91%             | 2032-06-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Michigan Strategic Fund                                       | MICHIGAN ST STRATEGIC FUND LTD OBLG REVENUE                  | CUSIP: 594698SR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $990550.00    | 0.47%             | 2061-10-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Vermont Economic Development Authority                        | VERMONT ST ECON DEV AUTH MTGEREVENUE                         | CUSIP: 92415TBM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $502045.00    | 0.24%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lakewood Ranch Stewardship District                           | LAKEWOOD RANCH FL STEWARDSHIP DIST SPL ASSMNT REVENUE        | CUSIP: 51265KAU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    970000 | PA      | $970698.40    | 0.46%             | 2026-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Transportation Infrastructure Authority       | KENTUCKY PUB TRANSPRTN INFRASTRUCTURE AUTH TOLL REVENUE      | CUSIP: 491397AK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1240000 | PA      | $900116.00    | 0.43%             | 2028-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Fresno Unified School District                                | FRESNO CA UNIF SCH DIST                                      | CUSIP: 358232V60<br>LEI: 549300WL4QIP65TFU882 | Long             | DBT              | MUN               | US        |    800000 | PA      | $586136.00    | 0.28%             | 2030-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                      | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57584YMF3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    300000 | PA      | $319932.00    | 0.15%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tulsa County Industrial Authority                             | TULSA CNTY OK INDL AUTH SENIOR LIVING CMNTY REVENUE          | CUSIP: 899530AQ2<br>LEI: 549300WEYXBXLGN1E271 | Long             | DBT              | MUN               | US        |    345000 | PA      | $355398.30    | 0.17%             | 2026-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Clovis Unified School District                                | CLOVIS CA UNIF SCH DIST                                      | CUSIP: 189342ZP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2575000 | PA      | $1920126.00   | 0.92%             | 2030-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| County of Jefferson AL Sewer Revenue                          | JEFFERSON CNTY AL SWR REVENUE WARRANTS                       | CUSIP: 472682QP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $708417.50    | 0.34%             | 2027-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Pennsylvania                                  | PENNSYLVANIA ST                                              | CUSIP: 70914PTZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10026500.00  | 4.79%             | 2029-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Jefferson AL Sewer Revenue                          | JEFFERSON CNTY AL SWR REVENUE WARRANTS                       | CUSIP: 472682QV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5870000 | PA      | $3172441.50   | 1.52%             | 2033-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                    | ILLINOIS ST FIN AUTH REVENUE                                 | CUSIP: 45204EEV6<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   2635000 | PA      | $2887380.30   | 1.38%             | 2029-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                    | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505UD6<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    250000 | PA      | $271832.50    | 0.13%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Iowa Finance Authority                                        | IOWA ST FIN AUTH MIDWSTRN DISASTER AREA REVENUE              | CUSIP: 46246SAW5<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000760.00   | 0.48%             | 2050-12-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Maricopa County Union High School District No 213 Tempe       | TEMPE AZ UNION HIGH SCH DIST #213                            | CUSIP: 879743LJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4200000 | PA      | $4228140.00   | 2.02%             | 2029-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GRAND CANYON UNIVERSITY                                       | Grand Canyon University                                      | CUSIP: 38528UAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2382650.00   | 1.14%             | 2024-10-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                   | WASHINGTON ST HSG FIN COMMISSION NONPROFIT HSG REVENUE       | CUSIP: 939783TA4<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $951750.00    | 0.45%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Montgomery County Industrial Development Authority/PA         | MONTGOMERY CNTY PA INDL DEV AUTH                             | CUSIP: 613609G34<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2221685.00   | 1.06%             | 2028-01-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Rutgers The State University of New Jersey                    | RUTGERS NJ ST UNIV                                           | CUSIP: 783186PZ6<br>LEI: 549300BOYDHNW8J60112 | Long             | DBT              | MUN               | US        |   8425000 | PA      | $8460469.25   | 4.04%             | 2030-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                    | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505VZ6<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    500000 | PA      | $524200.00    | 0.25%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Grand Parkway Transportation Corp                             | GRAND PARKWAY TRANSPRTN CORP TX SYS TOLL REVENUE             | CUSIP: 38611TAG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1662930.00   | 0.79%             | 2030-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| San Bernardino Community College District                     | SAN BERNARDINO CA CMNTY CLG DIST                             | CUSIP: 796720HY9<br>LEI: 549300Y4FPTEP3EQZ007 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10089300.00  | 4.82%             | 2030-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Michigan Strategic Fund                                       | MICHIGAN ST STRATEGIC FUND LTD OBLG REVENUE                  | CUSIP: 594698LY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1016750.00   | 0.49%             | 2031-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Scottsdale Municipal Property Corp                            | SCOTTSDALE AZ MUNI PROPERTY CORP EXCISE TAX REVENUE          | CUSIP: 810489RU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2120000 | PA      | $2208446.40   | 1.05%             | 2032-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Harris County Cultural Education Facilities Finance Corp      | HARRIS CNTY TX CULTURAL EDU FACS FIN CORP REVENUE            | CUSIP: 414009HG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $140116.20    | 0.07%             | 2028-01-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency Inc                                      | CAPITAL TRUST AGY FL EDUCTNL FACS REVENUE                    | CUSIP: 14054CDD8<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    400000 | PA      | $405588.00    | 0.19%             | 2030-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Clackamas Community College District                          | CLACKAMAS OR CMNTY CLG DIST                                  | CUSIP: 179390MZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1830000 | PA      | $1509164.40   | 0.72%             | 2028-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Foothill-Eastern Transportation Corridor Agency               | FOOTHILL ESTRN TRANSPRTN CORRIDOR AGY CA TOLL ROAD REVENUE   | CUSIP: 345105HE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2070300.00   | 0.99%             | 2027-01-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Foothill-Eastern Transportation Corridor Agency               | FOOTHILL ESTRN TRANSPRTN CORRIDOR AGY CA TOLL ROAD REVENUE   | CUSIP: 345105HK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    795000 | PA      | $911451.60    | 0.44%             | 2032-01-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                          | PUERTO RICO ELEC PWR AUTH PWR REVENUE                        | CUSIP: 74526QPM8<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    500000 | PA      | $506760.00    | 0.24%             | 2029-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                             | ILLINOIS ST                                                  | CUSIP: 452152YL9<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1165000 | PA      | $1176009.25   | 0.56%             | 2039-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                            | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | CUSIP: 64990BGX5<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    450000 | PA      | $458923.50    | 0.22%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bexar County Health Facilities Development Corp               | BEXAR CNTY TX HLTH FACS DEV CORP                             | CUSIP: 088354GH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $226057.50    | 0.11%             | 2028-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp           | NEW HOPE CULTURAL ED FACS FIN CORP TX RETIREMENT FAC REVENUE | CUSIP: 64542UDP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1145000 | PA      | $1151412.00   | 0.55%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fresno Unified School District                                | FRESNO CA UNIF SCH DIST                                      | CUSIP: 358232V78<br>LEI: 549300WL4QIP65TFU882 | Long             | DBT              | MUN               | US        |    955000 | PA      | $665529.95    | 0.32%             | 2031-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Maricopa County Union High School District No 213 Tempe       | TEMPE AZ UNION HIGH SCH DIST #213                            | CUSIP: 879743LK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4350000 | PA      | $4379145.00   | 2.09%             | 2030-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                      | NATIONAL FIN AUTH NH REVENUE                                 | CUSIP: 63607YAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2403500.00   | 1.15%             | 2027-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                         | LOUISIANA ST PUBLIC FACS AUTHREVENUE                         | CUSIP: 546398Q76<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   2395000 | PA      | $2347147.90   | 1.12%             | 2038-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| West Virginia Economic Development Authority                  | WEST VIRGINIA ST ECON DEV AUTH SOL WST DISP FACS             | CUSIP: 95648VBL2<br>LEI: 549300WW88TKKF5H1220 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2005020.00   | 0.96%             | 2042-12-01      | Floating      | 3.75%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                      | PUBLIC FIN AUTH WI EXEMPT FACS REVENUE                       | CUSIP: 74443QAE2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2889510.00   | 1.38%             | 2030-11-01      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL                                            | CHICAGO IL                                                   | CUSIP: 167486MM8<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1675000 | PA      | $1867340.25   | 0.89%             | 2035-01-01      | Fixed         | 7.78%                 | No            |                  2 | On Loan: No      |
| County of Jefferson AL Sewer Revenue                          | JEFFERSON CNTY AL SWR REVENUE WARRANTS                       | CUSIP: 472682QS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1045000 | PA      | $690609.15    | 0.33%             | 2030-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-15

**Name of Applicant:** Eaton Vance Municipal Income 2028 Term Trust

**Signature:** James Kirchner

**Name of Signer:** James Kirchner

**Title:** Treasurer