# EDGAR Filing Document

**Accession Number:** 0001089951
**File Stem:** 0001752724-25-212676
**Filing Date:** 2025-8
**Character Count:** 61852
**Document Hash:** 1c3d4ab1f6153f21ffc90310519095bc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-212676.hdr.sgml**: 20250829

**ACCESSION NUMBER**: 0001752724-25-212676

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250829

**DATE AS OF CHANGE**: 20250829

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMG FUNDS
- **CENTRAL INDEX KEY:** 0001089951

**ORGANIZATION NAME:**
- **EIN:** 061555943
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09521
- **FILM NUMBER:** 251278621

**BUSINESS ADDRESS:**
- **STREET 1:** 680 WASHINGTON BOULEVARD, SUITE 500
- **CITY:** STAMFORD
- **STATE:** CT
- **ZIP:** 06901
- **BUSINESS PHONE:** 2032993500

**MAIL ADDRESS:**
- **STREET 1:** 680 WASHINGTON BOULEVARD, SUITE 500
- **CITY:** STAMFORD
- **STATE:** CT
- **ZIP:** 06901

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MANAGERS AMG FUNDS
- **DATE OF NAME CHANGE:** 19990706

## Series and Classes Contracts Data

### AMG GW&K Municipal Enhanced SMA Shares (Series ID: S000079761)

| Class ID   | Class Name                             | Ticker Symbol   |
|:---|:---|:---|
| C000241081 | AMG GW&K Municipal Enhanced SMA Shares | MESHX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

- **b. Investment Company Act file number:** 811-09521

- **c. CIK number of Registrant:** 0001089951

- **d. LEI of Registrant:** 54930020IDQ6ZIPGNH13

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

  - **Street Address 1:** 680 Washington Blvd.

  - **City:** Stamford

  - **State:** CT

  - **Foreign country:** US

  - **Zip / Postal Code:** 06901

  - **Telephone number:** 800-548-4539

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

- **a. Name of Series:** AMG GW&K Municipal Enhanced SMA Shares

- **b. EDGAR series identifier (if any):** S000079761

- **c. LEI of Series:** 549300KFN2YUNQLG5O94

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**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:** $212190081.11

**Total Liabilities:** $5299867.23

**Net Assets:** $206890213.88

**Delayed Delivery Securities:** $5236502.00

**Cash Not Reported:** $193.01

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 1.40660000 | **1-Year:** 71.05366000 | **5-Year:** 2331.44564000 | **10-Year:** 203742.87363000 | **30-Year:** 28767.94054000

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 853.31802000 | **10-Year:** 10462.04288000 | **30-Year:** 1181.83108000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000241081 | -1.39%               | -0.90%               | 0.60%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $-3423301.40                               |
| Month 2  | $-21808.44               | $-2607220.39                               |
| Month 3  | $-51591.30               | $462990.08                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| MIAMI BEACH FL HLTH FACS AUTH     | Miami Beach Health Facilities Authority                                          | CUSIP: 593211FN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2370000 | PA      | $2018810.08   | 0.98%             | 2046-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HLTH FACS AUTH REVENU    | Idaho Health Facilities Authority                                                | CUSIP: 451295H44<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $1979568.00   | 0.96%             | 2053-03-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY AL SWR REVENUE     | County of Jefferson AL Sewer Revenue                                             | CUSIP: 472682ZR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1617737.28   | 0.78%             | 2049-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DULUTH MN ECON DEV AUTH HLTH C    | Duluth Economic Development Authority                                            | CUSIP: 26444CHC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    410000 | PA      | $409435.51    | 0.20%             | 2048-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RICHLAND CNTY SC SCH DIST #2      | Richland County School District No 2/SC                                          | CUSIP: 763682R94<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1158056.32   | 0.56%             | 2038-03-01      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| CHATTANOOGA TN HLTH EDUCTNL &     | Chattanooga Health Educational & Housing Facility Board                          | CUSIP: 162409AP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2004387.40   | 0.97%             | 2054-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL     | Philadelphia Authority for Industrial Development                                | CUSIP: 71780TBL6<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $984086.70    | 0.48%             | 2052-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA HGR EDU & H    | Montgomery County Higher Education and Health Authority                          | CUSIP: 613603G60<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $873714.78    | 0.42%             | 2052-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE     | Metropolitan Transportation Authority                                            | CUSIP: 59261AG43<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $989778.90    | 0.48%             | 2050-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHATTANOOGA TN ELEC REVENUE       | City of Chattanooga TN Electric Revenue                                          | CUSIP: 162393GC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $966119.14    | 0.47%             | 2040-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE        | Public Finance Authority                                                         | CUSIP: 74442PL37<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1555000 | PA      | $1548072.79   | 0.75%             | 2061-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HILLSBOROUGH CNTY FL INDL DEVA    | Hillsborough County Industrial Development Authority                             | CUSIP: 43233AFD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    815000 | PA      | $685640.02    | 0.33%             | 2050-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP N    | Tobacco Settlement Financing Corp                                                | CUSIP: 888808HQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    405000 | PA      | $402333.72    | 0.19%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE    | South Carolina Jobs-Economic Development Authority                               | CUSIP: 83704HAM9<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009691.30   | 0.49%             | 2054-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP    | New York Transportation Development Corp                                         | CUSIP: 650110AE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $895824.34    | 0.43%             | 2053-04-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HLTH & EDUCTNL     | Connecticut State Health & Educational Facilities Authority                      | CUSIP: 20775DPK2<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    485000 | PA      | $457645.32    | 0.22%             | 2039-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL SEAPORT REV    | County of Miami-Dade Seaport Department                                          | CUSIP: 59335KDF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2265000 | PA      | $2054029.97   | 0.99%             | 2045-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LYNCHBURG VA ECON DEV AUTH HOS    | Lynchburg Economic Development Authority                                         | CUSIP: 55123TBS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $192092.52    | 0.09%             | 2055-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH STUDENT HS    | Indiana Finance Authority                                                        | CUSIP: 45471FAY7<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1181693.13   | 0.57%             | 2059-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES    | New York State Dormitory Authority                                               | CUSIP: 65000BLQ9<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    340000 | PA      | $278134.28    | 0.13%             | 2052-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R    | Massachusetts Development Finance Agency                                         | CUSIP: 57585BJT6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1731781.10   | 0.84%             | 2050-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SUFFOLK REGL OFF-TRACK BETTING    | Suffolk Regional Off-Track Betting Corp                                          | CUSIP: 86480TAC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1021169.50   | 0.49%             | 2053-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUBLIC SVC A    | South Carolina Public Service Authority                                          | CUSIP: 8371515V7<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1330673.80   | 0.64%             | 2055-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP    | New York Transportation Development Corp                                         | CUSIP: 650116FQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    845000 | PA      | $849872.19    | 0.41%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI    | Pennsylvania Turnpike Commission                                                 | CUSIP: 709225BD7<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2435000 | PA      | $2105664.79   | 1.02%             | 2050-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST SMALL BUSINESS FIN    | Virginia Small Business Financing Authority                                      | CUSIP: 928104NX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    485000 | PA      | $449957.39    | 0.22%             | 2039-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP    | New York Transportation Development Corp                                         | CUSIP: 650116HM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006448.70   | 0.49%             | 2054-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL     | Metropolitan Pier & Exposition Authority                                         | CUSIP: 592250DM3<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |    815000 | PA      | $796684.26    | 0.39%             | 2050-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH REVENUE       | Indiana Finance Authority                                                        | CUSIP: 45506EPA5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1461130.20   | 0.71%             | 2055-03-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP HLTHCAREF    | Florida Development Finance Corp                                                 | CUSIP: 34061QBU0<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    325000 | PA      | $298737.34    | 0.14%             | 2052-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HLTH & EDUCTNL     | Connecticut State Health & Educational Facilities Authority                      | CUSIP: 20775DPN6<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    285000 | PA      | $256075.38    | 0.12%             | 2042-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HLTH & EDUCTNL     | Connecticut State Health & Educational Facilities Authority                      | CUSIP: 20775DPL0<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    555000 | PA      | $509659.89    | 0.25%             | 2040-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AUTH FL CHRTR SC    | Capital Trust Authority                                                          | CUSIP: 14054YAD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1765000 | PA      | $1516544.13   | 0.73%             | 2064-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHWEST TX INDEP SCH DIST       | Northwest Independent School District                                            | CUSIP: 667826HG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2150000 | PA      | $2236774.22   | 1.08%             | 2055-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP    | New York Transportation Development Corp                                         | CUSIP: 650116FR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    815000 | PA      | $812202.68    | 0.39%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA    | Chicago O'Hare International Airport                                             | CUSIP: 167593L59<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1081874.31   | 0.52%             | 2048-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP    | New York Transportation Development Corp                                         | CUSIP: 650116GY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2582481.25   | 1.25%             | 2054-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HGR EDUCTNL FA    | Pennsylvania Higher Educational Facilities Authority                             | CUSIP: 70917TRZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4780000 | PA      | $4622988.47   | 2.23%             | 2054-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R    | Massachusetts Development Finance Agency                                         | CUSIP: 57584YL64<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1080000 | PA      | $850017.02    | 0.41%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST     | New Jersey Transportation Trust Fund Authority                                   | CUSIP: 64613CEH7<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1028878.70   | 0.50%             | 2050-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE        | Public Finance Authority                                                         | CUSIP: 74442PL29<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1102571.91   | 0.53%             | 2055-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                       | State of Illinois                                                                | CUSIP: 452153KG3<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005622.80   | 0.49%             | 2049-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUBLIC AUTH FOR COLORADO ST EN    | Public Authority for Colorado Energy                                             | CUSIP: 744387AD3<br>LEI: 549300C6IJKXQOMRAB11 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1527997.38   | 0.74%             | 2038-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R    | Massachusetts Development Finance Agency                                         | CUSIP: 57584Y4T3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   3705000 | PA      | $3617848.03   | 1.75%             | 2052-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING A    | Virginia Small Business Financing Authority                                      | CUSIP: 928097AC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1895000 | PA      | $1788615.84   | 0.86%             | 2052-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL     | Metropolitan Pier & Exposition Authority                                         | CUSIP: 592250EY6<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |    485000 | PA      | $394122.06    | 0.19%             | 2052-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GEISINGER PA AUTH HLTH SYS REV    | Geisinger Authority                                                              | CUSIP: 368497JV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1340000 | PA      | $1129832.79   | 0.55%             | 2050-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R    | Massachusetts Development Finance Agency                                         | CUSIP: 57585BJU3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1467354.00   | 0.71%             | 2055-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AUTH FL CHRTR SC    | Capital Trust Authority                                                          | CUSIP: 14054YAC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $884845.50    | 0.43%             | 2054-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PALM BEACH CNTY FL HLTH FACS A    | Palm Beach County Health Facilities Authority                                    | CUSIP: 69650MBB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1887557.40   | 0.91%             | 2055-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH RE    | California Municipal Finance Authority                                           | CUSIP: 13048VZJ0<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    240000 | PA      | $195692.09    | 0.09%             | 2051-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FAYETTE CNTY GA DEV AUTH REVEN    | Fayette County Development Authority                                             | CUSIP: 31222PAW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1523554.05   | 0.74%             | 2049-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING     | Pennsylvania Economic Development Financing Authority                            | CUSIP: 70868YAX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4075000 | PA      | $3972384.98   | 1.92%             | 2057-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV    | Colorado Health Facilities Authority                                             | CUSIP: 19648FZK3<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1315000 | PA      | $1283358.21   | 0.62%             | 2055-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE    | South Carolina Jobs-Economic Development Authority                               | CUSIP: 837032CF6<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2072074.40   | 1.00%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R    | Massachusetts Development Finance Agency                                         | CUSIP: 57585BKJ6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3581175.38   | 1.73%             | 2055-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HLTH & EDUCTNL FAC    | Health & Educational Facilities Authority of the State of Missouri               | CUSIP: 60637ARH7<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2104031.75   | 1.02%             | 2053-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH ST    | California Municipal Finance Authority                                           | CUSIP: 13049YBK6<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    485000 | PA      | $483175.04    | 0.23%             | 2043-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST SMALL BUSINESS FIN    | Virginia Small Business Financing Authority                                      | CUSIP: 928104QJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1755000 | PA      | $1755232.19   | 0.85%             | 2047-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VILLAGE CDD NO 15 SPL ASSMNT R    | Village Community Development District No 15                                     | CUSIP: 92708KAK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $910142.60    | 0.44%             | 2055-05-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| LOWER COLORADO RIVER TX AUTH T    | Lower Colorado River Authority                                                   | CUSIP: 54811BXV8<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000657.10   | 0.48%             | 2051-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R    | Massachusetts Development Finance Agency                                         | CUSIP: 57585BBU1<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $906555.60    | 0.44%             | 2060-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRL PLAINS ENERGY PROJ NE G    | Central Plains Energy Project                                                    | CUSIP: 154871CP0<br>LEI: SVQOT7V5CPLIGNP5BE29 | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1154566.35   | 0.56%             | 2042-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX ARPT SYS REVENUE       | City of Houston TX Airport System Revenue                                        | CUSIP: 442349HZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1630000 | PA      | $1667046.64   | 0.81%             | 2039-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R    | Massachusetts Development Finance Agency                                         | CUSIP: 57585BEY0<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2462417.38   | 1.19%             | 2054-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUB FACS AUTH REVENU    | Louisiana Public Facilities Authority                                            | CUSIP: 546399SZ0<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2573215.25   | 1.24%             | 2064-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING     | Pennsylvania Economic Development Financing Authority                            | CUSIP: 70868YAW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2185000 | PA      | $2185453.17   | 1.06%             | 2053-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP    | New York Transportation Development Corp                                         | CUSIP: 650116GP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1027747.50   | 0.50%             | 2040-04-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| OHIO ST HSG FIN AGY RSDL MTGE     | Ohio Housing Finance Agency                                                      | CUSIP: 67756Q6U6<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1024285.79   | 0.50%             | 2049-09-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH ST    | California Municipal Finance Authority                                           | CUSIP: 13049YBM2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    795000 | PA      | $765420.36    | 0.37%             | 2048-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL    | Rhode Island Health and Educational Building Corp                                | CUSIP: 762244MJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5100000 | PA      | $5052904.56   | 2.44%             | 2054-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| OHIO ST HGR EDUCTNL FAC COMMIS    | Ohio Higher Educational Facility Commission                                      | CUSIP: 67756DS80<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2939937.30   | 1.42%             | 2054-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP R    | Tobacco Settlement Financing Corp/RI                                             | CUSIP: 888809BE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $529990.57    | 0.26%             | 2040-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLUMBUS OH REGL ARPT AUTH REV    | Columbus Regional Airport Authority                                              | CUSIP: 199546DD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3096270.90   | 1.50%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE     | Metropolitan Transportation Authority                                            | CUSIP: 59261A5G8<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1019218.70   | 0.49%             | 2055-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ST HOSP FIN AUTH    | West Virginia Hospital Finance Authority                                         | CUSIP: 956622X25<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1063432.30   | 0.51%             | 2053-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP N    | Tobacco Settlement Financing Corp                                                | CUSIP: 888808HT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $264935.91    | 0.13%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP    | New York Transportation Development Corp                                         | CUSIP: 650116HW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2499624.00   | 1.21%             | 2060-12-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ESCAMBIA CNTY FL HLTH FACS AUT    | Escambia County Health Facilities Authority                                      | CUSIP: 296110GF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1055000 | PA      | $857898.99    | 0.41%             | 2050-08-15      | Fixed         | 4.00%                 | 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        |    550000 | PA      | $465444.10    | 0.22%             | 2047-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUB FACS AUTH REVENU    | Louisiana Public Facilities Authority                                            | CUSIP: 546399SY3<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2537436.50   | 1.23%             | 2059-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL SEAPORT REV    | County of Miami-Dade Seaport Department                                          | CUSIP: 59335KFB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $360194.19    | 0.17%             | 2052-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MET GOVT NASHVILLE & DAVIDSON     | Metropolitan Government Nashville & Davidson County Health & Educational Facs Bd | CUSIP: 592029CM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    520000 | PA      | $517896.08    | 0.25%             | 2053-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP N    | Tobacco Settlement Financing Corp                                                | CUSIP: 888808HR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $533516.82    | 0.26%             | 2046-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV    | Colorado Health Facilities Authority                                             | CUSIP: 19648FKS2<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    930000 | PA      | $915918.87    | 0.44%             | 2044-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA ARPT AUTH AR    | Allegheny County Airport Authority                                               | CUSIP: 01728LFJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    815000 | PA      | $801364.64    | 0.39%             | 2051-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI BEACH FL HLTH FACS AUTH     | Miami Beach Health Facilities Authority                                          | CUSIP: 593211FQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1023539.13   | 0.49%             | 2051-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FAYETTE CNTY GA DEV AUTH REVEN    | Fayette County Development Authority                                             | CUSIP: 31222PAX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1510846.80   | 0.73%             | 2054-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HSG FIN AGY SF    | Pennsylvania Housing Finance Agency                                              | CUSIP: 70879QXU2<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   2050000 | PA      | $1983649.09   | 0.96%             | 2053-04-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST HSG FIN CORP REVENU    | Florida Housing Finance Corp                                                     | CUSIP: 34074M4X6<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |   3045000 | PA      | $2937331.24   | 1.42%             | 2054-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH REVENUE      | New Hampshire Business Finance Authority                                         | CUSIP: 63607YCZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2555458.00   | 1.24%             | 2055-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI    | Washington State Housing Finance Commission                                      | CUSIP: 93978LHG4<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1439574.60   | 0.70%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUBLIC SVC A    | South Carolina Public Service Authority                                          | CUSIP: 8371515A3<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1016325.80   | 0.49%             | 2054-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BREVARD CNTY FL HLTH FACS AUTH    | Brevard County Health Facilities Authority                                       | CUSIP: 107416QM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1185000 | PA      | $1163928.92   | 0.56%             | 2047-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TURNPIKE AUTH TU    | New Jersey Turnpike Authority                                                    | CUSIP: 646140JF1<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   2230000 | PA      | $2317914.63   | 1.12%             | 2055-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX ARPT SYS REVENUE       | City of Houston TX Airport System Revenue                                        | CUSIP: 442349HX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1557919.05   | 0.75%             | 2037-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FIXED INCOME CLEARING CORPORATION | FIXED INCOME CLEARING CORPORATION                                                | CUSIP: 000000000<br>LEI: 549300H47WTHXPU08X20 | Long             | RA               | CORP              | US        |   7033000 | PA      | $7033000.00   | 3.40%             |  |  |  | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE     | Metropolitan Transportation Authority                                            | CUSIP: 59261AG35<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   3625000 | PA      | $3531798.35   | 1.71%             | 2045-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                       | State of Illinois                                                                | CUSIP: 452153AU3<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1240000 | PA      | $1121390.16   | 0.54%             | 2040-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST SMALL BUSINESS FIN    | Virginia Small Business Financing Authority                                      | CUSIP: 928104NY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    485000 | PA      | $440274.51    | 0.21%             | 2040-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST PRIV ACTIVITY BOND SU    | Texas Private Activity Bond Surface Transportation Corp                          | CUSIP: 882667AY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1180000 | PA      | $1099595.27   | 0.53%             | 2039-12-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VILLAGE CDD NO 15 SPL ASSMNT R    | Village Community Development District No 15                                     | CUSIP: 92708KAJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $931754.20    | 0.45%             | 2044-05-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R    | Massachusetts Development Finance Agency                                         | CUSIP: 57585BEX2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009760.80   | 0.49%             | 2050-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF WTR & P    | Los Angeles Department of Water & Power                                          | CUSIP: 544532PU2<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1511325.90   | 0.73%             | 2050-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING A    | Virginia Small Business Financing Authority                                      | CUSIP: 928097AB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1905000 | PA      | $1820952.92   | 0.88%             | 2049-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUB FIN AUTH WI TAX INCREMENT     | Public Finance Authority                                                         | CUSIP: 74448EAA2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1981687.00   | 0.96%             | 2041-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP HLTHCAREF    | Florida Development Finance Corp                                                 | CUSIP: 34061QCU9<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1752794.93   | 0.85%             | 2055-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY CITY TRANSITIONAL     | New York City Transitional Finance Authority                                     | CUSIP: 64972JPT9<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1015126.80   | 0.49%             | 2053-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF WTR & P    | Los Angeles Department of Water & Power                                          | CUSIP: 544532PW8<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010539.20   | 0.49%             | 2055-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST PRIV ACTIVITY BOND SU    | Texas Private Activity Bond Surface Transportation Corp                          | CUSIP: 882667AN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4050000 | PA      | $3867238.49   | 1.87%             | 2058-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY AL SWR REVENUE     | County of Jefferson AL Sewer Revenue                                             | CUSIP: 472682ZS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4550000 | PA      | $4664215.92   | 2.25%             | 2053-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH STUDENT HS    | Indiana Finance Authority                                                        | CUSIP: 45471FAZ4<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1456283.85   | 0.70%             | 2064-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH STUDENT HS    | Indiana Finance Authority                                                        | CUSIP: 45471FAX9<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $955869.80    | 0.46%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                       | State of Illinois                                                                | CUSIP: 452153KF5<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007261.00   | 0.49%             | 2048-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| KNOX CNTY TN HLTH EDUCTNL & HS    | Knox County Health Educational & Housing Facility Board                          | CUSIP: 499526AT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020702.00   | 0.49%             | 2059-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SHELBY CNTY TENN HEALTH EDL &     | Shelby County Health & Educational Facilities Board                              | CUSIP: 82170LAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2305706.75   | 1.11%             | 2056-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST AGRIC & ECON DEVB    | Minnesota Agricultural & Economic Development Board                              | CUSIP: 6049203E6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011777.60   | 0.49%             | 2054-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV    | Colorado Health Facilities Authority                                             | CUSIP: 19648FXU3<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009197.70   | 0.49%             | 2054-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG DEV AUTH SF MT    | Michigan State Housing Development Authority                                     | CUSIP: 594654C78<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $990869.20    | 0.48%             | 2050-12-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| LOUISIANA STADIUM & EXPOSITION    | Louisiana Stadium & Exposition District                                          | CUSIP: 546410CY5<br>LEI: 5493000QEHWDGVGH7J62 | Long             | DBT              | MUN               | US        |   1965000 | PA      | $1993679.57   | 0.96%             | 2053-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| OHIO ST HGR EDUCTNL FAC COMMIS    | Ohio Higher Educational Facility Commission                                      | CUSIP: 67756DS72<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2482913.50   | 1.20%             | 2049-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CENTRL TX REGL MOBILITY AUTH R    | Central Texas Regional Mobility Authority                                        | CUSIP: 155498LX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1739902.00   | 0.84%             | 2051-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DOWNTOWN REVITALIZATION PUBLIC    | Downtown Revitalization Public Infrastructure District                           | CUSIP: 26118TAX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1875000 | PA      | $1966940.25   | 0.95%             | 2055-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST TURNPIKE AUT    | North Carolina Turnpike Authority                                                | CUSIP: 65830RDA4<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3003990.00   | 1.45%             | 2058-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST PRIV ACTIVITY BOND SU    | Texas Private Activity Bond Surface Transportation Corp                          | CUSIP: 882667BX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $666373.57    | 0.32%             | 2058-12-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX ARPT SYS REVENUE       | City of Houston TX Airport System Revenue                                        | CUSIP: 442349HY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1028542.90   | 0.50%             | 2038-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| KNOX CNTY TN HLTH EDUCTNL & HS    | Knox County Health Educational & Housing Facility Board                          | CUSIP: 499526BJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $994319.00    | 0.48%             | 2059-07-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES    | New York State Dormitory Authority                                               | CUSIP: 64985SBV4<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1530000 | PA      | $1341776.34   | 0.65%             | 2050-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                       | City of New York NY                                                              | CUSIP: 64966SJZ0<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1012176.70   | 0.49%             | 2054-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FL HLTH FACS AUTH     | Orange County Health Facilities Authority                                        | CUSIP: 68450LJQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3555741.35   | 1.72%             | 2056-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP    | New York Transportation Development Corp                                         | CUSIP: 650116GX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1220000 | PA      | $1200822.09   | 0.58%             | 2049-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| S JERSEY NJ TRANSPRTN AUTH TRA    | South Jersey Transportation Authority                                            | CUSIP: 838536MP2<br>LEI: 549300W8SZI2CAOKT956 | Long             | DBT              | MUN               | US        |   2070000 | PA      | $1978035.49   | 0.96%             | 2047-11-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP    | New York Transportation Development Corp                                         | CUSIP: 650116GN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $543876.85    | 0.26%             | 2035-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CORPUS CHRISTI TX UTILITY SYSR    | City of Corpus Christi TX Utility System Revenue                                 | CUSIP: 2202455X8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2001526.20   | 0.97%             | 2055-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG DEV AUTH SF MT    | Michigan State Housing Development Authority                                     | CUSIP: 594654C86<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   1520000 | PA      | $1500559.81   | 0.73%             | 2055-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAMILTON CNTY OH HOSP FACS REV    | County of Hamilton OH                                                            | CUSIP: 4072722W2<br>LEI: 549300TO1E3N4E4YIO28 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $986114.30    | 0.48%             | 2051-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI    | Washington State Housing Finance Commission                                      | CUSIP: 93978LHF6<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1022963.50   | 0.49%             | 2049-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP HLTHCAREF    | Florida Development Finance Corp                                                 | CUSIP: 34061QBT3<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    485000 | PA      | $386450.04    | 0.19%             | 2052-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL     | Metropolitan Pier & Exposition Authority                                         | CUSIP: 592250EW0<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |    325000 | PA      | $290773.24    | 0.14%             | 2042-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ST HOSP FIN AUTH    | West Virginia Hospital Finance Authority                                         | CUSIP: 956622Y81<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1037904.80   | 0.50%             | 2050-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-28

**Name of Applicant:** AMG Funds

**Signature:** Thomas Disbrow

**Name of Signer:** Thomas Disbrow

**Title:** Principal Financial Officer