# EDGAR Filing Document

**Accession Number:** 0000810744
**File Stem:** 0001193125-26-085116
**Filing Date:** 2026-3
**Character Count:** 227056
**Document Hash:** 4b022661b66b684b10a2a73945cf98de
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-085116.hdr.sgml**: 20260302

**ACCESSION NUMBER**: 0001193125-26-085116

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260302

**DATE AS OF CHANGE**: 20260302

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** COLORADO BONDSHARES A TAX EXEMPT FUND
- **CENTRAL INDEX KEY:** 0000810744

**ORGANIZATION NAME:**
- **EIN:** 846206949
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05009
- **FILM NUMBER:** 26706716

**BUSINESS ADDRESS:**
- **STREET 1:** 1200 17TH STREET
- **STREET 2:** SUITE 1000
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80202-5835
- **BUSINESS PHONE:** 3035726990

**MAIL ADDRESS:**
- **STREET 1:** 1200 17TH STREET
- **STREET 2:** SUITE 1000
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80202-5835

## Series and Classes Contracts Data

### COLORADO BONDSHARES A TAX EXEMPT FUND (Series ID: S000012064)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000032818 | COLORADO BONDSHARES A TAX EXEMPT FUND | HICOX           |

## Nport-Ex

---

| | | | | |
|:---|:---|:---|:---|:---|
| **COLORADO BONDSHARES**<br> **A TAX-EXEMPT FUND**<br> **Schedule of Investments**<br> **December 31, 2025** | **COLORADO BONDSHARES**<br> **A TAX-EXEMPT FUND**<br> **Schedule of Investments**<br> **December 31, 2025** | **COLORADO BONDSHARES**<br> **A TAX-EXEMPT FUND**<br> **Schedule of Investments**<br> **December 31, 2025** | **COLORADO BONDSHARES**<br> **A TAX-EXEMPT FUND**<br> **Schedule of Investments**<br> **December 31, 2025** | **COLORADO BONDSHARES**<br> **A TAX-EXEMPT FUND**<br> **Schedule of Investments**<br> **December 31, 2025** |
|  | **Maturity** | **Coupon** | **Principal** | **Value** |
| <br> **Colorado Municipal Bonds 56.7%** | <br> **Colorado Municipal Bonds 56.7%** | <br> **Colorado Municipal Bonds 56.7%** | <br> **Colorado Municipal Bonds 56.7%** | <br> **Colorado Municipal Bonds 56.7%** |
|  <br>**Colorado 100.0%** | <br>**Colorado 100.0%** | <br>**Colorado 100.0%** | <br>**Colorado 100.0%** | <br>**Colorado 100.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aberdeen MD #1 - Series A - 2035 | 12/1/2035 | 7.50% | $1600000 | $1600000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anthology West MD #5 - Series A - 2049 | 12/1/2049 | 4.88% | 4515000 | 4237734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anthology West MD #5 - Series B - 2049 (g) | 12/15/2049 | 7.63% | 698000 | 698593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aspen Street MD - Series A - 2050 (g) | 12/1/2050 | 5.13% | 4300000 | 3651904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banning Lewis Ranch Regional MD - Series A - 2048 | 12/1/2048 | 5.38% | 2500000 | 2425650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Base Village MD #2 - Series B – 2048 (g) | 12/15/2048 | 6.50% | 3500000 | 2720200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Belford North MD - Series A - 2050 | 12/1/2050 | 5.50% | 4000000 | 3612400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Belford North MD - Series B - 2050 (g) | 12/15/2050 | 8.50% | 3475000 | 3480178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bennett Crossing MD #1 - Series A - 2049 | 12/1/2049 | 6.13% | 6160000 | 6232811 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bennett Ranch MD #1 - Series A - 2051 | 12/1/2051 | 5.00% | 3000000 | 2509650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bennett Ranch MD #1 - Series B - 2051 (g) | 12/15/2051 | 7.50% | 1221000 | 1152819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bent Grass MD - Series A - 2054 (m) | 12/1/2054 | 5.75% | 7180000 | 7359356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bradburn MD #2 - Series C - 2051 (g) | 12/15/2051 | 7.50% | 3271000 | 3210029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brighton Crossing MD #6 - Series A - 2035 | 12/1/2035 | 5.00% | 525000 | 533909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brighton Crossing MD #6 - Series A - 2040 | 12/1/2040 | 5.00% | 1545000 | 1557066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brighton Crossing MD #6 - Series A - 2050 | 12/1/2050 | 5.00% | 9020000 | 8583612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Broomfield Village MD #2 - Series A - 2049 | 12/1/2049 | 5.00% | 1382000 | 1292004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Buckley Yard MD #2 - Series A - 2052 | 12/1/2052 | 6.25% | 6800000 | 6689432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Buckley Yard MD #2 - Series B - 2052 (g) | 12/15/2052 | 9.25% | 1569000 | 1568325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP MD 3 - Series A - 2053 | 12/1/2053 | 5.00% | 1192000 | 1162736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canyons MD 5 - Series B - 2054 | 12/1/2054 | 6.50% | 4814000 | 4802976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Castleview MD #2 - Series A - 2050 | 12/1/2050 | 5.00% | 3435000 | 3024346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Castleview MD #1 - Series A - 2050 (g) | 12/1/2050 | 5.00% | 4727000 | 3875904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cherry Creek South MD #5 - Series A - 2051 (g) | 12/1/2051 | 6.00% | 22500000 | 20827125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cherry Hills City MD - Series A - 2047 (g) | 12/1/2047 | 5.00% | 1370000 | 1298472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cielo MD - Series A - 2050 (g) | 12/1/2050 | 5.25% | 12442000 | 10870327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cityset MD #2 - Series A - 2030 | 12/1/2030 | 3.50% | 3965000 | 3703310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cityset MD #2 - Series A - 2040 | 12/1/2040 | 4.38% | 8360000 | 7570398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cityset MD #2 - Series A - 2045 | 12/1/2045 | 4.50% | 3180000 | 2747297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clear Creek Transit MD #2 - Series A - 2041 | 12/1/2041 | 5.00% | 1886000 | 1532073 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clear Creek Transit MD #2 - Series A - 2050 | 12/1/2050 | 5.00% | 4100000 | 3045562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cloverleaf MD - Series A - 2051 | 12/1/2051 | 6.00% | 2330000 | 2360383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cloverleaf MD - Series B - 2051 (g) | 12/15/2051 | 9.25% | 1034000 | 1033162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colliers Hill MD #2 - Series B – 2047 (g) | 12/15/2047 | 5.75% | 2231000 | 2176697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colliers Hill MD #3 - Series A - 2040 | 12/1/2040 | 5.25% | 8300000 | 8199404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colliers Hill MD #3 - Series A - 2048 | 12/1/2048 | 5.50% | 18250000 | 18328475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colliers Hill MD #3 - Series B - 2043 (g) | 12/15/2043 | 8.50% | 2213000 | 2221254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado Centre MD - Series B - 2032 (g)(i) | 1/1/2032 | 0.00% | 6592306 | 2966538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado Centre MD - Series A (PO) - 2027 (e)(i) | 1/1/2027 | 0.00% | 2074674 | 1999239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado Centre MD - Series A (IO) - 2027 (f)(i) | 1/1/2027 | 9.00% | 2131449 | 383661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Imagine Charter School at Firestone - Series A - 2027 (m) | 6/1/2027 | 4.50% | 17075000 | 17071756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Academy Of Advanced Learning - Series A - 2027 (m) | 6/1/2027 | 4.38% | 8245000 | 8109040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Chavez/Huerta Preparatory - Series A - 2027 (m) | 7/1/2027 | 4.38% | 35405000 | 33946668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Vanguard Classical School - Series A - 2027 (m) | 7/1/2027 | 4.38% | 23310000 | 22791119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Third Future School - Series A - 2029 (m) | 7/1/2029 | 4.25% | 5645000 | 5313413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Grand Peak Academy - Series A - 2031 (m) | 7/1/2031 | 4.00% | 2150000 | 2001629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Grand Peak Academy - Series A - 2041 (m) | 7/1/2041 | 4.25% | 5040000 | 4077814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Grand Peak Academy - Series A - 2051 (m) | 7/1/2051 | 4.50% | 13070000 | 9592727 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Doral Academy - Series A - 2028 (m) | 7/15/2028 | 4.50% | 19405000 | 18322201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Civica Career & Collegiate Academy - Series A - 2029 (m) | 7/15/2029 | 4.75% | 7790000 | 7591277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Chavez/Huerta Academy - Series A - 2027 (m) | 7/1/2027 | 4.50% | 8220000 | 7895721 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Mountain Sage Community School - Series A - 2029 (m) | 7/1/2029 | 4.75% | 3945000 | 3933441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Mountain Song Community School - Series A - 2029 (m) | 7/1/2029 | 4.75% | 5810000 | 5800355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA CEC / Aurora Charter School - Series A - 2032 (m) | 7/1/2032 | 5.00% | 65300000 | 65564465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA CEC / CSEC BC Project - Series A - 2032 (m) | 1/1/2032 | 4.88% | 3785000 | 3824515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA CEC / CSEC BC Project - Series A - 2037 (m) | 1/1/2037 | 5.00% | 3595000 | 3582705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA CEC / CSEC BC Project - Series A - 2042 (m) | 1/1/2042 | 5.13% | 40335000 | 39602113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Global Village Academy - Senior Bonds - 2029 (m) | 6/15/2029 | 5.85% | 11630000 | 11632442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Colorado Skies Academy - Series A - 2030 (m) | 7/1/2030 | 0.00% | 10595000 | 3178500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Global Village Academy - Series A - 2032 (m) | 6/15/2032 | 6.13% | 5175000 | 5239481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado Crossing MD #2 - Series A - 2047 | 12/1/2047 | 5.00% | 4000000 | 3850760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado Crossing MD #2 - Series A - 2050 | 12/1/2050 | 5.00% | 4000000 | 3790720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 700 Kalamath LLC - Series A - 2025 (a)(j) | 12/1/2030 | 0.00% | 3755000 | 3100000 |

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hudson Asphalt Terminal Project – Series A – 2034 (m) | 10/1/2034 | 7.25% | 10000000 | 10434500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hudson Asphalt Terminal Project – Series B – 2034 (m) | 10/1/2031 | 9.75% | 8705000 | 9066432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado Science & Tech Park MD #1 - Series B - 2039 | 12/15/2039 | 4.13% | 160000 | 162003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado Science & Tech Park MD #1 - Series B - 2044 | 12/15/2044 | 4.50% | 215000 | 213293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado Science & Tech Park MD #1 - Series B - 2054 | 12/15/2054 | 4.75% | 635000 | 631260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Conestoga MD #2 - Series A - 2051 (g) | 12/1/2051 | 5.25% | 1625000 | 1455740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Conifer MD - Series A - 2030 (j) | 12/1/2030 | 1.73% | 10000000 | 4749604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Conifer MD - Series A - 2032 (j) | 12/1/2032 | 1.73% | 1450000 | 688693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Conifer MD - Series A - 2033 (j) | 12/1/2033 | 1.73% | 1550000 | 736189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Constitution Heights MD - Series A - 2049 | 12/1/2049 | 5.00% | 1742000 | 1648507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Copperleaf MD #5 - Series A - 2055 | 12/1/2055 | 6.50% | 1180000 | 1187151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Copperleaf MD #9 - Series A - 2051 (g) | 12/1/2051 | 4.88% | 8175000 | 6533705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Country Club Highlands MD - Series A - 2037 | 12/1/2037 | 7.25% | 1030000 | 947600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Crowfoot Valley Ranch MD #2 - Series B - 2054 (g) | 12/15/2054 | 6.13% | 2750000 | 2673275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dakota Ridge MD - Series A - 2052 (g) | 12/1/2052 | 6.00% | 2339000 | 2355607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deer Creek Villas MD - Series A - 2055 | 12/1/2055 | 5.00% | 6085000 | 5677062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Denver Intl Business Center MD #1 - Series B - 2048 (g) | 12/1/2048 | 6.00% | 4573000 | 4584615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; E86 MD - Series A - 2051 (g) | 12/1/2051 | 5.13% | 4060000 | 3538412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eagle Brook Meadows MD #3 - Series A – 2051 (g) | 12/1/2051 | 5.00% | 1600000 | 1491616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eastern Hills MD #10 - Series A - 2055 | 12/1/2055 | 6.00% | 8755000 | 8950324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eastern Hills MD #10 - Series B - 2055 (g) | 12/15/2055 | 8.25% | 1802000 | 1800847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Elora MD - Series A - 2055 | 12/1/2055 | 6.00% | 5000000 | 5120700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Erie Highlands MD #2 - Series A - 2048 | 12/1/2048 | 5.25% | 6000000 | 6004140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Erie Highlands MD #2 - Series B - 2048 (g) | 12/15/2048 | 7.63% | 1819000 | 1821765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fields MD #1 - Series A - 2055 | 12/1/2055 | 6.25% | 7085000 | 7245546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fields MD #1 - Series B - 2055 | 12/15/2055 | 8.25% | 1207000 | 1206312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fitzsimons Village MD #1 - Series A - 2049 | 12/1/2049 | 5.00% | 1035000 | 991509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fitzsimons Village MD #1 - Series B - 2049 (g) | 12/15/2049 | 7.00% | 611000 | 611837 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fitzsimons Village MD #3 - Series A - 2031 | 12/1/2031 | 4.00% | 500000 | 486955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fitzsimons Village MD #3 - Series A - 2041 | 12/1/2041 | 4.00% | 4445000 | 3850659 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fitzsimons Village MD #3 - Series A - 2055 | 12/1/2055 | 4.25% | 9660000 | 7605511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flying Horse MD #2 - Series B - 2050 (g)(m) | 12/15/2050 | 7.25% | 15041000 | 15055590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flying Horse MD #3 - Series A - 2049 (g) | 12/1/2049 | 6.00% | 2965000 | 2969714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gold Hill North BID - Series A - 2054 (m) | 12/1/2054 | 5.60% | 3600000 | 3530736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Golden Eagle Acres MD #2 - Series A - 2051 (g) | 12/1/2051 | 4.50% | 2150000 | 1780781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Golden Overlook MD - Series A - 2054 | 12/1/2054 | 6.13% | 4500000 | 4634145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Golden Overlook MD - Series B - 2054 (g) | 12/15/2054 | 8.75% | 1347000 | 1346003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Granary MD #5 - Series A - 2055 | 12/1/2055 | 6.25% | 5480000 | 5631412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Granary MD #5 - Series B - 2055 | 12/15/2055 | 8.75% | 1141000 | 1135181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Green Gables MD #2 - Series B – 2053 (g) | 12/15/2053 | 8.25% | 2984000 | 2983612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Green Valley Ranch East MD #6 - Series A - 2050 | 12/1/2050 | 5.88% | 3325000 | 3368059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Green Valley Ranch East MD #9 - Series B - 2055 (g) | 12/15/2055 | 8.00% | 1025000 | 1025502 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Greenspire MD #1 - Series A - 2051 | 12/1/2051 | 5.13% | 1925000 | 1731461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Greenways MD #1 - Series A - 2051 (g) | 12/1/2051 | 4.63% | 6845000 | 5372298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hancock MD #1 - Series A - 2055 (m) | 12/1/2055 | 6.38% | 6525000 | 6535832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hancock MD #1 - Series B - 2055 (g)(m) | 12/15/2055 | 8.38% | 1007000 | 1008883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hawkview MD - Series A - 2055 | 12/1/2055 | 0.00% | 6080000 | 6044189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hawkview MD - Series B - 2055 (g) | 12/15/2055 | 0.00% | 1336000 | 1333328 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hess Ranch MD #6 - Series A - 2049 | 12/1/2049 | 5.00% | 5000000 | 4842500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hidden Creek MD - Series A - 2045 (g) | 12/1/2045 | 4.63% | 3430000 | 2926442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hogback MD - Series A - 2041 | 12/1/2041 | 5.00% | 725000 | 714836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hogback MD - Series A - 2051 | 12/1/2051 | 5.00% | 1550000 | 1448506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Horizon MD #2 - Series A - 2051 (g) | 12/1/2051 | 4.50% | 11657000 | 9149812 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hunter's Overlook MD #7 - Series A - 2051 (g) | 12/1/2051 | 5.50% | 3525000 | 3267323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hyland Village MD - Series A - 2027 | 12/1/2027 | 10.00% | 4770000 | 4102200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Independence MD #3 - Series A – 2054 | 12/1/2054 | 5.38% | 4500000 | 4501890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inspiration MD - Series B - 2036 (g) | 12/15/2036 | 5.00% | 703000 | 666683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jay Grove MD - Series A - 2051 (g) | 12/1/2051 | 4.25% | 2450000 | 1891572 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jeffco Business Center MD #1 - Series A - 2025 (j) | 5/1/2028 | 8.00% | 1006000 | 1023296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jefferson Center MD #1 - Series B - 2050 (g) | 12/15/2050 | 5.75% | 14414000 | 14435044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Karl's Farm MD #2 - Series B - 2049 (g) | 12/15/2044 | 6.20% | 567000 | 572284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lafferty Canyon MD - Series A - 2055 | 12/1/2055 | 5.63% | 1500000 | 1509375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lafferty Canyon MD - Series B - 2055 (g) | 12/1/2055 | 8.00% | 835000 | 834207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Lakes MD #4 - Series A - 2061 (g) | 12/1/2061 | 5.50% | 20080000 | 17766583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lanterns MD #2 - Series A - 2050 (g) | 12/1/2050 | 4.50% | 12492000 | 9657315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Legato Community Authority - Series A - 2036 | 12/1/2036 | 4.00% | 2130000 | 1849777 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Legato Community Authority - Series A - 2046 | 12/1/2046 | 5.00% | 1000000 | 881160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Legato Community Authority - Series A - 2051 | 12/1/2051 | 5.00% | 2500000 | 2099775 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Liberty Draw MD #6 - Series B - 2055 (g) | 12/15/2055 | 7.13% | 1302000 | 1302234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Littleton Village MD #3 - Series B - 2055 (m) | 12/15/2055 | 6.25% | 2850000 | 2865732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loretto Heights Community Authority - Series A - 2051 (g) | 12/1/2051 | 4.88% | 12750000 | 10084103 |

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marin MD - Series A - 2028 (a)(j) | 12/1/2028 | 0.00% | 17485000 | 1573650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mayfield MD - Series A - 2050 | 12/1/2050 | 5.75% | 1174000 | 1183286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mayfield MD - Series B - 2050 (g) | 12/15/2050 | 8.25% | 622000 | 622498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mayfield MD - Series C - 2050 | 12/15/2050 | 3.00% | 766000 | 333501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Meadows MD #1 - Series A - 2029 (k) | 6/1/2029 | 8.00% | 30730000 | 30411637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Meadows MD #2 - Series A - 2029 (k) | 6/1/2029 | 8.00% | 23830000 | 23583121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Meadows MD #7 - Series A - 2029 (k) | 6/1/2029 | 8.00% | 15440000 | 15280042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mighty Argo MD #2 - Series A - 2055 | 12/1/2055 | 7.00% | 9990000 | 10003087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mineral BID - Series A - 2054 (m) | 12/1/2054 | 5.75% | 1750000 | 1761130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mirabelle MD #2 - Series B - 2049 (g) | 12/15/2049 | 6.13% | 2000000 | 1983060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Monument Junction MD #1 - Series A - 2051 (g) | 12/1/2051 | 5.75% | 12258000 | 11471282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mount Carbon MD - Series C - 2043 | 6/1/2043 | 0.00% | 521078 | 521292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mountain Brook MD - Series A - 2051 | 12/1/2051 | 4.75% | 7740000 | 6195560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mountain Brook MD - Series A - 2041 | 12/1/2041 | 4.50% | 1000000 | 862350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Muegge Farms MD #1 - Series A - 2051 (g) | 12/1/2051 | 5.00% | 6300000 | 5382468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Muegge Farms MD #3 - Series A - 2051 (g) | 12/1/2051 | 5.50% | 10431000 | 9085610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Murphy Creek MD #5 - Series A - 2052 | 12/1/2052 | 6.00% | 3645000 | 3451341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Newlin Crossing MD - Series A - 2054 (m) | 12/1/2054 | 5.38% | 1150000 | 1147988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Newlin Crossing MD - Series B - 2054 (g)(m) | 12/1/2054 | 7.75% | 604000 | 602744 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; North Range MD #3 - Series A - 2040 | 12/1/2040 | 5.00% | 2000000 | 2018860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Painted Prairie Improvement Authority - Series A - 2029 | 12/1/2029 | 4.00% | 1000000 | 924230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Parkdale Community Authority MD #2 - Series B - 2053 (g) | 12/15/2053 | 9.00% | 1391000 | 1390430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Parker Automotive MD - Series A - 2045 | 12/1/2045 | 5.00% | 1772000 | 1810009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Parterre MD #5 - Series A - 2045 | 12/1/2045 | 5.88% | 1500000 | 1566600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Parterre MD #5 - Series A - 2055 | 12/1/2055 | 6.13% | 2250000 | 2358698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Parterre MD #5 - Series B - 2054 (g) | 12/1/2054 | 8.38% | 1450000 | 1447869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pinery Commercial MD 2 - Series A - 2054 | 12/1/2054 | 5.75% | 3200000 | 3178976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Piney Lake Trails MD #1 - Series A - 2055 | 12/1/2055 | 5.88% | 3500000 | 3516975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Piney Lake Trails MD #1 - Series B - 2055 (g) | 12/1/2055 | 8.50% | 1985000 | 1983154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pinnacle Farms MD #1 - Series A - 2055 | 12/1/2055 | 6.50% | 6645000 | 6806407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pioneer Community Authority - Series B - 2050 (g) | 12/15/2050 | 6.75% | 24592000 | 24429693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Plaza MD #1 - Series A - 2040 (m) | 12/1/2040 | 5.00% | 7850000 | 7852669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Powhaton Community Authority - Series A - 2051 (g) | 12/1/2051 | 5.00% | 7450000 | 6627744 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pronghorn Valley MD - Series A - 2041 | 12/1/2041 | 3.75% | 515000 | 453210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pronghorn Valley MD - Series A - 2051 | 12/1/2051 | 4.00% | 4400000 | 3563956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quantum 56 MD - Series A - 2055 (m) | 9/1/2055 | 6.25% | 7000000 | 7203210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quantum 56 MD - Series B - 2055 (m) | 9/2/2055 | 8.25% | 1575000 | 1575205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reata Ridge Village MD #2 - Series A - 2049 | 12/1/2049 | 5.00% | 1736000 | 1612067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Remuda Ridge MD - Series A - 2051 (g) | 12/1/2051 | 5.63% | 5520000 | 4849817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve MD #2 - Series A - 2045 | 12/1/2045 | 5.00% | 500000 | 483675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ritoro MD - Series B - 2057 (g) | 12/15/2057 | 6.25% | 632000 | 629560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Riverdale Peaks II MD - Series A - 2025 | 12/1/2030 | 6.40% | 930000 | 837000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Riverdale Peaks II MD - Series A - 2035 | 12/1/2035 | 6.50% | 1135000 | 1021500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Riverpark MD - Series A - 2054 | 12/1/2054 | 6.38% | 1415000 | 1445465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Riverview MD - Series A - 2041 | 12/1/2041 | 5.00% | 1105000 | 1069662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Riverview MD - Series A - 2051 | 12/1/2051 | 5.00% | 2075000 | 1837143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rock Creek MD - Series A - 2041 | 12/1/2041 | 4.50% | 2195000 | 1860416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rock Creek MD - Series A - 2050 | 12/1/2050 | 4.75% | 3880000 | 3049990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rock Creek MD - Series A - 2031 (g) | 12/1/2031 | 4.00% | 3432000 | 3202536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rose Farm Acres MD - Series A - 2050 | 12/1/2050 | 5.00% | 2905000 | 2685585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rose Farm Acres MD - Series B - 2050 (g) | 12/15/2050 | 8.75% | 910000 | 910200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RRC MD #2 - Series A - 2051 (g) | 12/1/2051 | 5.25% | 5625000 | 5005800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sabell MD - Series A - 2050 (g) | 12/1/2050 | 5.00% | 1044000 | 1020176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sabell MD - Series B - 2050 (g) | 12/15/2050 | 8.25% | 605000 | 605950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Scott Gulch MD - Series A - 2053 (m) | 12/1/2053 | 6.50% | 3160000 | 3189925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Scott Gulch MD - Series B - 2053 (g)(m) | 12/15/2053 | 8.75% | 694000 | 693806 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Silver Peaks East MD - Series A - 2051 (g) | 12/1/2051 | 5.00% | 5410000 | 4684411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64th Avenue ARI Authority - Series A - 2043 (g) | 12/1/2043 | 6.50% | 5000000 | 5046700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sky Dance MD #2 - Series A - 2054 | 12/1/2054 | 6.00% | 2500000 | 2541275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sojourn At Idlewild MD - Series A - 2055 (m) | 12/1/2055 | 6.13% | 2500000 | 2569925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Southlands MD #1 - Series A - 2037 | 12/1/2037 | 5.00% | 500000 | 502660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Southlands MD #1 - Series A - 2047 | 12/1/2047 | 5.00% | 3000000 | 2910780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Southshore MD #2 - Series B - 2041 (g) | 12/15/2041 | 4.13% | 9690000 | 9755892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spring Hill MD #3 - Series A - 2052 | 12/1/2052 | 6.75% | 1220000 | 1235287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spring Valley MD #4 - Series A - 2040 | 12/1/2040 | 5.00% | 1408000 | 1364957 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spring Valley MD #4 - Series A - 2050 | 12/1/2050 | 5.12% | 1775000 | 1623805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spring Valley MD #4 - Series B - 2050 (g) | 12/15/2050 | 7.63% | 2811000 | 2813867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sterling Ranch Community Authority - Series A - 2054 | 12/1/2054 | 6.50% | 1000000 | 1036080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sterling Ranch MD # 4/B - Series A - 2054 | 12/1/2054 | 5.75% | 2305000 | 2317032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sterling Ranch MD #2 - Series A - 2032 | 12/1/2032 | 5.25% | 1340000 | 1373433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sterling Ranch MD #2 - Series A - 2042 | 12/1/2042 | 5.50% | 5645000 | 5789230 |

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sterling Ranch MD #2 - Series A - 2051 | 12/1/2051 | 5.75% | 11750000 | 11921785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stone Ridge MD #2 - Series A - 2031 | 12/1/2031 | 0.00% | 11896000 | 356880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Third Creek MD #1 - Series A - 2037 | 12/1/2037 | 4.50% | 1130000 | 1018955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Third Creek MD #1 - Series A - 2042 | 12/1/2042 | 4.50% | 3140000 | 2629467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Third Creek MD #1 - Series A - 2051 | 12/1/2051 | 4.75% | 7390000 | 5805732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Thompson Crossing MD #4 - Series A - 2039 | 12/1/2039 | 5.00% | 1410000 | 1417966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Thompson Crossing MD #4 - Series A - 2049 | 12/1/2049 | 5.00% | 1315000 | 1261453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Thompson Crossing MD #5 - Series A - 2055 | 12/1/2055 | 6.00% | 3765000 | 3750844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Thompson Crossing MD #5 - Series B - 2055 (g) | 12/15/2055 | 8.50% | 999000 | 995933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trailside MD #4 - Series B - 2051 (g) | 12/15/2051 | 7.00% | 3249000 | 3251274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trailside MD #6 - Series A - 2053 (g) | 12/1/2053 | 7.75% | 2181000 | 2206867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Valagua MD - Series A - 2037 | 12/1/2037 | 0.00% | 11500000 | 2300000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vermilion Creek MD #3 - Series A - 2055 | 12/1/2055 | 5.88% | 10000000 | 10227200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vermilion Creek MD #3 - Series B - 2055 (g) | 12/15/2055 | 8.00% | 2185000 | 2183689 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Villages At Murphy Creek MD #1 - Series A - 2051 (g) | 12/1/2051 | 5.50% | 12358000 | 11320175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vincent Village MD - Series A - 2051 | 12/1/2051 | 5.00% | 1950000 | 1673353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Water Valley MD #3 - Series A - 2054 | 12/1/2054 | 5.25% | 600000 | 589746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Waterfall MD #1 - Series A - 2052 | 12/1/2052 | 5.25% | 2247000 | 2089171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Weems Neighborhood MD - Series A - 2055 (m) | 12/15/2055 | 5.88% | 1500000 | 1534995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Weems Neighborhood MD - Series B - 2055 (g)(m) | 12/15/2055 | 7.88% | 1149000 | 1147254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Westcreek MD #2 - Series A - 2048 | 12/1/2048 | 5.38% | 1265000 | 1249871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Westerly MD #4 - Series A - 2031 | 12/1/2031 | 4.13% | 600000 | 585468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Westerly MD #4 - Series A - 2040 | 12/1/2040 | 5.00% | 2255000 | 2256894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Westerly MD #4 - Series A - 2050 | 12/1/2050 | 5.00% | 5250000 | 4989075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; White Buffalo MD #3 - Series A - 2050 | 12/1/2050 | 5.50% | 4780000 | 4784732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Woodmen Heights MD #2 - Series C - 2040 (g) | 12/15/2040 | 7.50% | 3358000 | 3378887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wyndham Hill MD #2 - Series B - 2049 (g) | 12/15/2049 | 7.63% | 9600000 | 9612384 |
| **Colorado (amortized cost $1,152,445,022)** |  |  | **1217408507** | **1105687816** |
| **Colorado Municipal Bonds (amortized cost $1,152,445,022)** |  |  | **$1217408507** | **$1105687816** |
| **Other Municipal Bonds 8.4%** | **Other Municipal Bonds 8.4%** | **Other Municipal Bonds 8.4%** | **Other Municipal Bonds 8.4%** | **Other Municipal Bonds 8.4%** |
|  **South Dakota 59.3%** | **South Dakota 59.3%** | **South Dakota 59.3%** | **South Dakota 59.3%** | **South Dakota 59.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Healthcare - Series A - 2036 (m) | 1/1/2036 | 5.75% | $6055000 | $4797498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Healthcare - Series A - 2031 (m) | 1/1/2031 | 5.50% | 3565000 | 3142155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Gaming - Series B - 2038 (g)(m) | 1/1/2038 | 6.00% | 6120000 | 5407816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Gaming - Series C - 2038 (m) | 1/1/2038 | 6.00% | 5450000 | 4815783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Gaming - Series A - 2027 (m) | 1/1/2027 | 8.28% | 1205000 | 1196011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Gaming - Series A - 2028 (m) | 1/1/2028 | 8.28% | 1305000 | 1289758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Gaming - Series A - 2033 (m) | 1/1/2033 | 8.28% | 8670000 | 8428194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Healthcare NH - Series A - 2027 (m) | 7/1/2027 | 5.75% | 830000 | 806461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Healthcare NH - Series A - 2028 (m) | 7/1/2028 | 5.75% | 875000 | 837331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Healthcare NH - Series A - 2029 (m) | 7/1/2029 | 5.75% | 930000 | 877901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Healthcare NH - Series A - 2030 (m) | 7/1/2030 | 5.75% | 980000 | 911919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Healthcare NH - Series A - 2031 (m) | 7/1/2031 | 5.75% | 1040000 | 955167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Healthcare NH - Series A - 2032 (m) | 7/1/2032 | 5.75% | 1095000 | 991139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Healthcare NH - Series A - 2033 (m) | 7/1/2033 | 5.75% | 1160000 | 1036077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Healthcare NH - Series A - 2034 (m) | 7/1/2034 | 5.75% | 1225000 | 1079580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Healthcare NH - Series A - 2035 (m) | 7/1/2035 | 5.75% | 1300000 | 1131637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Healthcare NH - Series A - 2040 (m) | 7/1/2040 | 6.00% | 7730000 | 6378641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Healthcare NH - Series A - 2045 (m) | 7/1/2045 | 6.25% | 10395000 | 8096458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oglala Sioux Tribe / Healthcare - Series A - 2028 (m) | 7/1/2028 | 5.50% | 1300000 | 1255540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oglala Sioux Tribe / Healthcare - Series A - 2037 (m) | 7/1/2037 | 6.00% | 9270000 | 7852802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oglala Sioux Tribe / Healthcare - Series B - 2041 (m) | 9/1/2041 | 6.50% | 5505000 | 4643247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oglala Sioux Tribe - Series A - 2027 (m) | 10/1/2027 | 4.50% | 2370000 | 2277546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rosebud Sioux Tride / Health Care - Series A - 2050 (m) | 12/15/2050 | 7.50% | 28460000 | 28302616 |
| **South Dakota (amortized cost $106,046,089)** |  |  | **106835000** | **96511279** |
|  **Utah 32.7%** | **Utah 32.7%** | **Utah 32.7%** | **Utah 32.7%** | **Utah 32.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arrowhead Springs PID - Series A - 2054 (m) | 12/1/2054 | 5.63% | 3200000 | 3223776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Copper Rim IFD - Series A - 2054 (m) | 12/1/2054 | 6.13% | 2190000 | 2251495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Coral Canyon IFD - Series A - 2053 (m) | 12/1/2053 | 5.50% | 13545000 | 13435963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fields Estate PID - Series A - 2055 (m) | 12/1/2053 | 6.13% | 825000 | 831130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fields Estate PID - Series B - 2053 (m) | 3/15/2055 | 8.75% | 504000 | 513611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fields Estate PID - Series A2 - 2053 (g)(m) | 12/1/2053 | 5.25% | 2750000 | 2684248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jordanelle Ridge PID - Series B - 2055 (g)(m) | 3/15/2055 | 7.88% | 4000000 | 4072560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ares Strategic Mining - Series A - 2034 (m) | 12/15/2034 | 10.00% | 9905000 | 9357650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NWQ PID - Series A - 2056 (m) | 3/1/2056 | 6.13% | 1800000 | 1812762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Panorama PID #1 - Series A - 2055 (m) | 3/1/2055 | 6.25% | 3000000 | 3019920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pointe West PID - Series A - 2053 (m) | 12/15/2053 | 5.50% | 3090000 | 3086879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Soleil Hills PID - Series A - 2055 (m) | 3/1/2055 | 5.88% | 2425000 | 2426625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Range IFD - Series A - 2053 (m) | 12/1/2053 | 5.50% | 6515000 | 6453433 |

| | | | | |
|:---|:---|:---|:---|:---|
| **Utah (amortized cost $52,805,667)** |  |  | **53749000** | **53170052** |
|  **Puerto Rico 6.0%** | **Puerto Rico 6.0%** | **Puerto Rico 6.0%** | **Puerto Rico 6.0%** | **Puerto Rico 6.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico - Series A - 2027 | 7/1/2027 | 5.63% | 102175 | 104357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico - Series A - 2029 | 7/1/2029 | 5.63% | 100517 | 106505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico - Series A - 2031 | 7/1/2031 | 5.75% | 97632 | 107258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico - Series A - 2033 | 7/1/2033 | 4.00% | 92580 | 92552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico - Series A - 2035 | 7/1/2035 | 4.00% | 83217 | 81777 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico - Series A - 2037 | 7/1/2037 | 4.00% | 71422 | 69236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico - Series A - 2041 | 7/1/2041 | 4.00% | 97107 | 89784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico - Series A - 2046 | 7/1/2046 | 4.00% | 100990 | 88109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico - Series A - 2033 | 7/1/2033 | 4.64% | 119142 | 86216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico - Series A - 2043 | 7/1/2043 | 3.00% | 356605 | 228227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico / Sales Tax - Series A - 2034 | 7/1/2034 | 4.50% | 277000 | 277005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico / Sales Tax - Series A - 2040 | 7/1/2040 | 4.55% | 140000 | 140052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico / Sales Tax - Series A - 2053 | 7/1/2053 | 4.75% | 1028000 | 968952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico / Sales Tax - Series A - 2058 | 7/1/2058 | 5.00% | 2600000 | 2503176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico / Sales Tax - Series A - 2027 | 7/1/2027 | 4.41% | 191000 | 181496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico / Sales Tax - Series A - 2029 | 7/1/2029 | 4.69% | 260000 | 230932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico / Sales Tax - Series A - 2031 | 7/1/2031 | 4.96% | 336000 | 276048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico / Sales Tax - Series A - 2033 | 7/1/2033 | 5.20% | 378000 | 286237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico / Sales Tax - Series A - 2046 | 7/1/2046 | 5.97% | 3597000 | 1201470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico / Sales Tax - Series A - 2051 | 7/1/2051 | 6.02% | 2930000 | 732969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico / Sales Tax - Series A - 2040 | 7/1/2040 | 4.33% | 1424000 | 1393213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico / Sales Tax - Series A - 2053 | 7/1/2053 | 4.54% | 43000 | 38949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Puerto Rico / Sales Tax - Series A - 2058 | 7/1/2058 | 4.78% | 571000 | 533103 |
| **Puerto Rico (amortized cost $9,020,722)** |  |  | **14996387** | **9817623** |
| **Washington 1.0%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tacoma / Local Improvement District #65 - Series A - 2043 | 4/1/2043 | 5.75% | 1695000 | 1692152 |
| **Washington (amortized cost $1,587,130)** |  |  | **1695000** | **1692152** |
| **Ohio 0.8%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ohio Housing Finance Agency / Taxable - Series B - 2029 (m) | 1/15/2029 | 7.75% | 745000 | 746147 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ohio Housing Finance Agency / Taxable - Series B - 2029 (m) | 1/15/2029 | 7.75% | 530000 | 530986 |

| | | | | |
|:---|:---|:---|:---|:---|
| **Ohio (amortized cost $1,275,000)** |  |  | **1275000** | **1277133** |
| **California 0.2%** |  |  |  |  |
| Freddie Mac – 2035 (g)(j) | 8/15/2035 | 6.50% | 235948 | 244127 |
| **California (amortized cost $235,948)** |  |  | **235948** | **244127** |
| **Other Municipal Bonds (amortized cost $170,970,555)** |  |  | **$178786335** | **$162712367** |
| **Short-Term Municipal Bonds 4.0%** | **Short-Term Municipal Bonds 4.0%** | **Short-Term Municipal Bonds 4.0%** | **Short-Term Municipal Bonds 4.0%** | **Short-Term Municipal Bonds 4.0%** |
| **Colorado 88.3%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Boulder College of Massage - Series A - 2031 (a)(j) | 10/15/2031 | 0.00% | $4315000 | $1128562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CHFA / Ready Foods - Series A - 2032 (LOC 1) | 1/1/2032 | 3.37% | 3475000 | 3475000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado Springs Utilities - Series A - 2041 (LOC 1) | 11/1/2041 | 3.30% | 1000000 | 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fitzsimons Village MD #3 - Series A - 2026 | 12/1/2026 | 4.00% | 1157000 | 1151817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PFA / Monument Academy - Series A - 2026 (m) | 6/1/2026 | 5.00% | 27740000 | 27637639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sheridan Redevelopment Agency / Santa Fe - Series A - 2029 (LOC 3) | 12/1/2029 | 3.30% | 27205000 | 27205000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Solitude MD - Series A - 2026 | 12/1/2026 | 7.00% | 3520000 | 3520000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Third Creek MD #1 - Series A CABs - 2026 | 12/1/2026 | 5.25% | 2285000 | 1748505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Westerly MD #4 - Series A CABs - 2050 | 12/1/2026 | 5.20% | 2000000 | 1895340 |
| **Colorado (amortized cost $72,292,108)** |  |  | **72697000** | **68761863** |
| **Oregon 7.5%** |  |  |  |  |
| Multnomah County Hospital - Series A - 2023 (j) (m) | 10/1/2026 | 5.45% | 5815000 | 5815000 |
| **Oregon (amortized cost $5,815,000)** |  |  | **5815000** | **5815000** |
| **South Dakota 4.2%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Healthcare - Series A - 2026 (m) | 1/1/2026 | 5.00% | 610000 | 610000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Gaming - Series A - 2026 (m) | 1/1/2026 | 8.28% | 1115000 | 1115000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Healthcare NH - Series A - 2026 (m) | 7/1/2026 | 5.75% | 785000 | 777056 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oglala Sioux Tribe - Series C - 2026 (m) | 10/1/2026 | 8.00% | 800000 | 801568 |
| **South Dakota (amortized cost $3,310,000)** |  |  | **3310000** | **3303624** |
| **Short-Term Municipal Bonds (amortized cost $81,417,108)** |  |  | **$81822000** | **$77880487** |
| **Colorado Capital Appreciation and Zero Coupon Bonds 2.6%** | **Colorado Capital Appreciation and Zero Coupon Bonds 2.6%** | **Colorado Capital Appreciation and Zero Coupon Bonds 2.6%** | **Colorado Capital Appreciation and Zero Coupon Bonds 2.6%** | **Colorado Capital Appreciation and Zero Coupon Bonds 2.6%** |
| **Colorado 100.0%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aurora Crossroads MD #2 - Series A1 CABs - 2055 | 12/1/2055 | 6.25% | $4920000 | $4386180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aurora Crossroads MD #2 - Series A2 CABs - 2055 | 12/1/2055 | 6.50% | 2240000 | 1986342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bella Mesa MD - Series A CABs - 2049 (m) | 12/1/2049 | 6.75% | 7565000 | 7789000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado International Center MD #7 - Series A CABs - 2027 | 12/1/2027 | 5.25% | 21285000 | 17613550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Conifer MD - Series B - 2031 (a)(j) | 12/1/2031 | 0.00% | 7470000 | 2399762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Granary MD #5 - Series A CABs - 2034 | 12/1/2034 | 6.75% | 9455000 | 5386514 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Green Valley Ranch East MD #9 - Series A CABs - 2055 | 12/1/2055 | 6.38% | 2500000 | 1959875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lanterns MD #3 - Series A CABs - 2053 | 12/1/2053 | 8.00% | 2250000 | 1880370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PV ERU Holding Trust - Series A CABs - 2039 (a)(j)(m) | 2/14/2039 | 0.00% | 710000 | 64667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PV ERU Holding Trust - Series A CABs - 2039 (a)(j)(m) | 2/14/2039 | 0.00% | 3122000 | 284352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PV ERU Holding Trust - Series A CABs - 2039 (a)(j)(m) | 2/14/2039 | 0.00% | 13168000 | 1199341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PV ERU Holding Trust - Series A CABs – 2039 (a)(j)(m) | 12/15/2037 | 0.00% | 14000000 | 1275119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Parkdale Community Authority MD #2 - Series A CABs – 2053 | 12/1/2027 | 7.75% | 5670000 | 4888787 |
| **Colorado (amortized cost $58,399,292)** |  |  | **94355000** | **51113859** |
| **Colorado Capital Appreciation and Zero Coupon Bonds (amortized cost $58,399,292)** |  |  | **$94355000** | **$51113859** |
| **Colorado Taxable Certificates/Notes/Bonds 0.3%** | **Colorado Taxable Certificates/Notes/Bonds 0.3%** | **Colorado Taxable Certificates/Notes/Bonds 0.3%** | **Colorado Taxable Certificates/Notes/Bonds 0.3%** | **Colorado Taxable Certificates/Notes/Bonds 0.3%** |
|  **Colorado 100.0%** | **Colorado 100.0%** | **Colorado 100.0%** | **Colorado 100.0%** | **Colorado 100.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Colorado Skies Academy / Taxable - Series A2 – 2030 (j)(m) | 7/1/2030 | 0.00% | $935000 | $280500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA CEC / Aurora Charter School / Taxable - Series B – 2029 (m) | 7/1/2029 | 6.00% | 1605000 | 1604374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA CEC / Aurora Charter School / Taxable - Series A - 2031 (m) | 7/1/2031 | 6.13% | 1960000 | 1949926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Colorado Skies Academy / Taxable - Series A1 – 2030 (m) | 7/1/2030 | 0.00% | 500000 | 150000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Global Village Academy - Series B - 2031 (m) | 6/15/2031 | 7.50% | 270000 | 272506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Woodmen Heights MD #2 / Taxable - Series B - 2040 (g) | 12/15/2040 | 6.25% | 1694000 | 1675688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tabernash Pole Creek Note – 2026 (a)(j) | 12/31/2026 | 0.00% | 227347 | 189000 |
| **Colorado (amortized cost $7,191,347)** |  |  | **7191347** | **6121993** |
| **Colorado Taxable Certificates/Notes/Bonds (amortized cost $7,191,347)** |  |  | **$7191347** | **$6121993** |

| | | | | |
|:---|:---|:---|:---|:---|
| **Other Assets 0.1%** | **Other Assets 0.1%** | **Other Assets 0.1%** | **Other Assets 0.1%** | **Other Assets 0.1%** |
| **Utah 100.0%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ares Strategic Mining - Equity | 12/15/2034 | 0.00% | $6780500 | $2146028 |
| **Utah (amortized cost $1,000,000)** |  |  | **6780500** | **2146028** |
| **Other Assets (amortized cost $1,000,000)** |  |  | **$6780500** | **$2146028** |
| Total investments, at value (amortized cost $1,471,423,324) | 72.1% |  |  | $1405662549 |
| Other assets net of liabilities | 27.9% |  |  | 542861789 |
| Net Assets | 100.0% |  |  | $1948524338 |

---

------

**COLORADO BONDSHARES - A TAX-EXEMPT FUND** 

**Schedule of Investments (unaudited) - (Continued)** 

(a) Defaulted or non-income producing based upon the financial condition of the issuer (see "Defaulted or Non-Income Producing Investments" note to Schedule of Investments).

(b) Originally issued as general obligation bonds but are now pre-refunded and are secured by an escrow fund consisting entirely of direct U.S. Government obligations.

(c) Represents securities whose blended characteristics are reflective of a zero coupon bond and a step rate bond. Interest rate shown represents effective yield at acquisition.

(d) Interest rate shown for capital appreciation and zero coupon bonds represents the effective yield at the date of acquisition.

(e) Principal-only certificate represents the right to receive the principal payments on the underlying debt security upon maturity. The price of this security is typically more volatile than that of coupon-bearing bonds of the same maturity.

(f) Interest-only certificate represents the right to receive semi-annual interest payments on the underlying debt security. The principal amount of the underlying security represents the notional amount on which current interest is calculated. The interest rate shown represents the effective yield at the date of acquisition.

(g) Interest rate disclosed for cash flow bond represents the effective yield at December 31, 2025. Income on this security is derived from the cash flow of the issuer.

(h) Represents current interest rate for a step rate bond. No step rate bonds were owned by the Fund at December 31, 2025.

(i) Terms of security have been restructured since the original issuance. The total face amount of all such restructured securities approximates $10,798,429 and a value of $5,349,438 or less than 1.0% of net assets, as of December 31, 2025.

(j) Securities valued at fair value (see "Investment Valuation and Risk" notes to the Schedule of Investments).

(k) See "Purchase Accrued Interest" notes to Schedule of Investments for further information on purchase accrued interest related to these bonds.

(l) The Fund is not a party to any forbearance agreements as of December 31, 2025.

(m) Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2025, the aggregate value was $566,791,801 representing 29.09% of net assets.

------

**COLORADO BONDSHARES - A TAX-EXEMPT FUND** 

**Schedule of Investments - (unaudited) - (Continued)** 

**December 31, 2025** 

---

| | |
|:---|:---|
| (LOC) | These securities are Variable Rate Demand Obligations ("VRDO") with scheduled principal and interest payments that have a guaranteed liquidity provider in the form of a letter of credit. These obligations bear interest at a rate that resets daily or weekly (see "Investment Transactions" notes to Schedule of Investments). The numbered list below corresponds to the liquidity provider associated with the respective LOC. |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. US Bank, N.A. |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. BNP Paribas |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. JP Morgan Chase Bank N.A. |
|  | The following abbreviations are used in the descriptions of securities included in the Schedule of Investments: |
|  | CABs-Capital Appreciation Bonds |
|  | CONV-Convertible |
|  | I/O-Interest Only |
|  | L/D-Local Improvement District |
|  | MD-Metropolitan District |
|  | P/O-Principal Only |

---

------

**COLORADO BONDSHARES - A TAX-EXEMPT FUND** 

**Notes to Schedule of Investments** 

**December 31, 2025 (unaudited)** 

**Defaulted or Non-income Producing Investments** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Fund discontinues the accrual of interest income on municipal bonds when the securities become delinquent as to payment of principal or interest, or when the Fund's investment adviser determines that an uncertainty exists as to the realization of all or a portion of the principal balance. The face amount of bonds for which the accrual of interest income has been discontinued approximates $64,252,347 and such bonds have a value of $11,214,453 or 0.58% of net assets, as of December 31, 2025. These securities have been identified in the accompanying Schedule of Investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Fund is not a party to any forbearance agreements as of December 31, 2025

**Investment Valuation and Risk** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The fair value of securities for which there is no last sales price is determined either by an independent pricing service or management, considering market transactions and dealer quotes of comparable securities as well as proprietary pricing models.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities for which market quotations are not readily available (or management considers otherwise are no longer valid or reliable) are valued at fair value determined in accordance with procedures approved by the Board of Trustees. This can occur in the event of, among other things, natural disasters, acts of terrorism, market disruptions, intra-day trading halts, and extreme market volatility. The determination of fair value involves subjective judgments. As a result, using fair value to price a security may result in a price materially different from the prices used by other mutual funds to determine net asset value or the price that may be realized upon the actual sale of the security. Short-term holdings are valued at current market quotations or amortized cost, whichever management believes best approximates fair value.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fixed-income securities owned by the Fund are subject to interest-rate risk, credit risk, prepayment risk and market risk. The Fund invests in non-rated securities which may be subject to a greater degree of credit risk and risk of loss of income and principal and may be more sensitive to economic conditions than lower yielding, higher rated fixed income securities. The Fund concentrates its investments in Colorado and, therefore, may be impacted by specific events, issuers or factors affecting Colorado. The Fund has more credit risk related to the economic conditions of Colorado than a portfolio with a broader geographical diversification. The Fund concentrates its investments in and the majority of the Fund's shareholders are located within Colorado and, therefore, may be impacted by specific events, issuers or factors affecting Colorado. The Company does not have any significant concentrations within any one shareholder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounting Standards Codification ("ASC") 820 Fair Value Measurements and Disclosures establishes a fair value hierarchy that classifies securities based on valuation techniques used to measure fair value and distinguish between observable inputs (market data obtained from independent sources) and the reporting entities own assumptions, which are not readily observable to market participants. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Level 1 Inputs**: Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Level 2 Inputs**: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. If the asset or liability has a specified (contractual) term, a Level 2 input must be observable for substantially the full term of the asset or liability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Level 3 Inputs**: Significant unobservable inputs for the asset or liability including management's own assumptions. Unobservable inputs shall be used to measure fair value to the extent that observable inputs are not available.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table summarizes the valuation of the Fund's investments as defined by ASC 820 hierarchy levels as of December 31, 2025:

**Valuation Inputs Summary** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Colorado Municipal**<br> **Bonds** | **Other Municipal**<br> **Bonds** | **Short-Term Municipal**<br> **Bonds** | **Colorado Capital**<br> **Appreciation and**<br> **Zero Coupon Bonds** | **Colorado Taxable**<br> **Certificates/Notes/Bonds** | **Other**<br> **Assets** | **Total Securities**<br> **December 31,**<br> **2025** |
|  Level 1 Securities | $- | $- | $- | $- | $- | $2146028 | $2146028 |
|  Level 2 Securities | 1093816384 | 162468239 | 70936925 | 45890618 | 5652493 |  | 1378764659 |
|  Level 3 Securities | 11871432 | 244127 | 6943562 | 5223241 | 469500 |  | 24751862 |
|  Totals | $1105687816 | $162712366 | $77880487 | $5113859 | $6121993 | $2146028 | $1405662549 |

---

**Purchase Accrued Interest** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchase accrued interest is typically a component of a municipal bond purchase and is paid on settlement date. The accrual period begins on the last interest payment date (or original issue date) and runs through the day immediately preceding the settlement date. The Fund has purchased three bonds from the Meadows Metropolitan Districts No. 1, 2 and 7 with an aggregate balance of purchase accrued of $90,436,317 (98.1% of the December 31, 2025 balance of $92,156,671). Approximately $285,573,553 of additional interest has accrued on the purchase accrued interest since its purchase in 2007. This additional accrued interest has been fair valued in accordance with ASC 820 at approximately $109,925,553 and is included in other assets net of liabilities in the Schedule of Investments. This amount bears interest at the rate of 7.999% and will be received over an uncertain period of years. The value of the Meadows bonds is contained within three separate line items of the financial statements which all relate to a single set of bonds that cannot be sold separately.

**Investment Transactions** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Variable Rate Demand Obligations ("VRDO") purchased by the Fund are floating rate obligations that have a nominal long-term maturity but have a coupon rate that is reset periodically (e.g., daily or weekly). The investor has the option to put the issue back to the trustee or tender agent at any time with specified (e.g., seven days) notice; accordingly, the Fund treats these obligations as short-term holdings. On December 31, 2025 the interest rates paid on these obligations ranged from 3.30% to 3.37%.

**Income Tax Information** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At December 31, 2025 the cost and unrealized appreciation (depreciation) of investments, as determined on a federal income tax basis, were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Colorado Municipal**<br> **Bonds** | **Other Municipal**<br> **Bonds** | **Short-Term Municipal**<br> **Bonds** | **Colorado Capital**<br> **Appreciation and**<br> **Zero Coupon Bonds** | **Colorado Taxable**<br> **Certificates/Notes/Bonds** | **Other**<br> **Assets** | **Totals** |
|  Cost of investments | $1152445022 | $170970555 | $81417108 | $58399292 | $7191347 | $1000000 | $1471423324 |
|  Gross unrealized appreciation | $18361214 | $2195154 | $190769 | $2574468 | $2505 | $1146028 | $24470138 |
|  Gross unrealized depreciation | (65118419) | (10453343) | (3727390) | (9859902) | (1071860) | 0 | (90230914) |
|  Net unrealized appreciation (depreciation) of investments | ($46757205) | ($8258189) | ($3536621) | ($7285434) | ($1069355) | $1146028 | ($65760776) |

---

------

**Litigation** 

The Fund is periodically involved in various legal proceedings. As of December 31, 2025, the Fund has a litigation payable of $250,000 for all pending litigation matters primarily for the purpose of paying lawyer fees. Possible additional amounts cannot be currently estimated but will be set aside as needed. Although there can be no assurances, based on information available, management believes that it is probable that the ultimate outcome of the action described below and other matters that are pending or threatened will not have a material effect on the Fund's financial condition.

**Marin Metropolitan District LTD Tax G.O. Series 2008 Bond** 

The Fund is the beneficial owner of bonds issued in 2008 (the "Bonds") by Marin Metropolitan District (the "District") as described more fully in the Fund's 2025 shareholder report on Form N-CSR filed with the Securities and Exchange Commission ("SEC") on December 4, 2025. The Bonds were issued in 2008 pursuant to a trust indenture (the "Trust Indenture") between the District, as issuer and UMB Bank, N.A. ("UMB"), as trustee (the "Trustee"). The original principal amount of Bonds was $30,485,000. The current principal amount of the Bonds is $17,485,000. The valuation of these Bonds as of December 31, 2025, is set forth in the schedule of investments.

On about June 24, 2022, the District filed an Amended Complaint for Declaratory and Injunctive Relief (the "Complaint") against the Fund and the Trustee with the District Court, Arapahoe County, Colorado (the "Court"). The Complaint also names Century at Landmark, LLC, a Colorado limited liability company ("Century") as an "Interested Party" in the Complaint on the grounds that Century is the owner of the real property remaining in the District. In the Complaint, the District has asserted a single claim for relief for declaratory judgment. In essence, based on the rulings in Landmark Towers Association, Inc. v. UMB Bank, N.A. and Colorado BondShares (District Court, Arapahoe County, Colorado Case No. 11CV1076) (the "Landmark Litigation"), the District has requested that the Court declare that the Fund and the Trustee cannot compel the District to impose a tax levy on Century's parcel of real property within the District and that, further, the Court enjoin the Fund and the Trustee from attempting to compel the District to impose the Required Mill Levy (as such term is defined in the Trust Indenture) on Century's parcel of real property within the District. In response, the Fund and the Trustee filed Amended Counterclaims for breach of the District's resolution authorizing public debt in accordance with, and as required by, the Colorado Constitution (the "Bond Resolution"), declaratory judgment for breach of the Bond Resolution, declaratory judgment that the District has violated Colo. Const. art. XI, section 6 and the Bond Resolution, breach of the Trust Indenture, declaratory judgment that the District has violated the Trust Indenture, promissory estoppel and unjust enrichment (the collectively, the "Counterclaims"). The Counterclaims seek a judgment in the full amount due and owing on the Bonds with accrued interest along with a declaration that the District is obligated to impose the Required Mill Levy under the terms of the Trust Indenture.

On October 16 and 17, 2023, the Court held a two-day non-jury trial on all remaining issues presented in the Complaint and the Counterclaims. On May 2, 2024, the Court issued Findings of Fact and Conclusions of Law and Orders After Trial to Court finding in favor of the District and against the Fund, which precludes the Fund from seeking repayment of the amounts owed. On June 12, 2025, after full briefing, the Court of Appeals affirmed the Trial Court's Findings of Fact and Conclusions of Law and Orders After Trial to the Court. On August 7, 2025, the Fund filed a Petition for Writ of Certiorari to the Colorado Supreme Court. A decision is expected in the first quarter of 2026. At this time, we cannot express a judgement as to the likelihood of an unfavorable outcome, nor can we estimate the amount of potential loss.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** COLORADO BONDSHARES A TAX EXEMPT FUND

- **b. Investment Company Act file number:** 811-05009

- **c. CIK number of Registrant:** 0000810744

- **d. LEI of Registrant:** 5493004J1EX5YAL0BM32

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

  - **Street Address 1:** 1200 17th Street

  - **City:** Denver

  - **State:** CO

  - **Foreign country:** US

  - **Zip / Postal Code:** 80202

  - **Telephone number:** 3035726990

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

- **a. Name of Series:** Colorado BondShares A Tax Exempt Fund

- **b. EDGAR series identifier (if any):** S000012064

- **c. LEI of Series:** 549300KYLYKP76VSWS05

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

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**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:** $1954837345.57

**Total Liabilities:** $6313007.56

**Net Assets:** $1948524338.01

**Cash Not Reported:** $542861788.80

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 12157.290768649199 | **1-Year:** 102.912646753886 | **5-Year:** 8342.195568898817 | **10-Year:** 236.603149364145 | **30-Year:** 875.934618491338

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

- **3-Month:** 3525.637203365151 | **1-Year:** 88716.188713331097 | **5-Year:** 159192.985058121606 | **10-Year:** 305454.469880585391 | **30-Year:** 308548.289261716387

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000032818 | 1.15%                | 0.49%                | 0.23%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $15005409.89                               |
| Month 2  | $12382.12                | $2107105.49                                |
| Month 3  | $337382.96               | $-3747735.62                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| REMUDA RIDGE MET DIST COLO                                     | CO REMDEV 5.62 12/01/2051                                               | CUSIP: 75972QAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5520000 | PA      | $4849816.80   | 0.25%             | 2051-12-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| RESERVE MET DIST NO 2 MT CRESTED BUTTE COLO                    | CO RESFAC 5 12/01/2045                                                  | CUSIP: 76106RAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $483675.00    | 0.02%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP                                | PR PRCGEN 4.54 07/01/2053                                               | CUSIP: 74529JRK3<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |     43000 | PA      | $38949.40     | 0.00%             | 2053-07-01      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP                                | PR PRCGEN 4.78 07/01/2058                                               | CUSIP: 74529JRL1<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |    571000 | PA      | $533102.73    | 0.03%             | 2058-07-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| HOGBACK MET DIST COLO                                          | CO HOGDEV 5 12/01/2041                                                  | CUSIP: 434610AA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $714835.50    | 0.04%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HESS RANCH MET DIST NO 6 COLO                                  | CO HRADEV 5 12/01/2049                                                  | CUSIP: 428112AA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4842500.00   | 0.25%             | 2049-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HIDDEN CREEK MET DIST COLO                                     | CO HCMDEV 4.62 12/01/2045                                               | CUSIP: 42951RAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3430000 | PA      | $2926441.70   | 0.15%             | 2045-12-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| HAWKVIEW MET DIST COLO                                         | CO HMDDEV 8.5 12/15/2055                                                | CUSIP: 42034TAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1336000 | PA      | $1333328.00   | 0.07%             | 2055-12-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA                      | FLNDRE 6.25 07/01/45 2020                                               | CUSIP: 338497BX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10395000 | PA      | $8096457.60   | 0.42%             | 2045-07-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA                      | FLNDRE 5.75 07/01/34 2020                                               | CUSIP: 338497BU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1225000 | PA      | $1079580.25   | 0.06%             | 2034-07-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA                      | FLNDRE 5.75 07/01/35 2020                                               | CUSIP: 338497BV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1131637.00   | 0.06%             | 2035-07-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA                      | FLNDRE 5.75 07/01/32 2020                                               | CUSIP: 338497BS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1095000 | PA      | $991139.25    | 0.05%             | 2032-07-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| FITZSIMONS VLG MET DIST NO 1 COLO                              | CO FITFAC 5 12/01/2049                                                  | CUSIP: 33829KAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1035000 | PA      | $991509.30    | 0.05%             | 2049-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FITZSIMONS VLG MET DIST NO 3 COLO                              | CO FITFAC 4 12/01/2026                                                  | CUSIP: 33829NAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1157000 | PA      | $1151816.64   | 0.06%             | 2026-12-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| FITZSIMONS VLG MET DIST NO 3 COLO                              | CO FITFAC 4 12/01/2031                                                  | CUSIP: 33829NAB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $486955.00    | 0.02%             | 2031-12-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| FIELDS MET DIST NO 1 COLO                                      | CO FLDFAC 6.25 12/01/2055                                               | CUSIP: 316578AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7085000 | PA      | $7245546.10   | 0.37%             | 2055-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CONSTITUTION HEIGHTS MET DIST COLO                             | CO CNHFAC 5 12/01/2049                                                  | CUSIP: 210402AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1742000 | PA      | $1648506.86   | 0.08%             | 2049-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONIFER MET DIST COLO                                          | CO CNFGEN 0 12/01/2031                                                  | CUSIP: 20731NBA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7470000 | PA      | $2399762.00   | 0.12%             | 2031-12-01      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| COPPER RIM INFRASTRUCTURE FING DIST UTAH                       | UT CRIDEV 6.12 12/01/2054                                               | CUSIP: 217562AA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2190000 | PA      | $2251495.20   | 0.12%             | 2054-12-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| COPPERLEAF MET DIST NO 5 COLO                                  | CO CLFDEV 6.5 12/01/2055                                                | CUSIP: 21765MAC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1180000 | PA      | $1187150.80   | 0.06%             | 2055-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PINERY COML MET DIST NO 2 COLO                                 | CO PRYDEV 5.75 12/01/2054                                               | CUSIP: 72330FAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3200000 | PA      | $3178976.00   | 0.16%             | 2054-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PINEY LAKE TRAILS MET DIST NO 1 COLO                           | CO PNTDEV 5.88 12/01/2055                                               | CUSIP: 72341MAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3516975.00   | 0.18%             | 2055-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PINEY LAKE TRAILS MET DIST NO 1 COLO                           | CO PNTDEV 8.5 12/15/2055                                                | CUSIP: 72341MAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1985000 | PA      | $1983153.95   | 0.10%             | 2055-12-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| PINNACLE FARMS MET DIST NO 1 COLO                              | CO PFMDEV 6.5 12/01/2055                                                | CUSIP: 72347WAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6645000 | PA      | $6806407.05   | 0.35%             | 2055-12-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| MURPHY CREEK MET DIST NO 5 COLO                                | CO MURDEV 6 12/01/2052                                                  | CUSIP: 626657AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3645000 | PA      | $3451341.15   | 0.18%             | 2052-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MULTNOMAH CNTY ORE HOSP FACS AUTH                              | Multnomah County Hospital - Series A - 2023                             | CUSIP: 62551PCB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5815000 | PA      | $5815000.00   | 0.30%             | 2026-10-01      | Fixed         | 5.45%                 | No            |                  3 | On Loan: No      |
| MUEGGE FARMS MET DIST NO 1 COLO                                | CO MGFFAC 5 12/01/2051                                                  | CUSIP: 62477MAA3<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   6300000 | PA      | $5382468.00   | 0.28%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MUEGGE FARMS MET DIST NO 3 COLO                                | CO MUGFAC 5.5 12/01/2051                                                | CUSIP: 62477NAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10431000 | PA      | $9085609.62   | 0.47%             | 2051-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MOUNTAIN BROOK MET DIST COLO                                   | CO MTBFAC 4.5 12/01/2041                                                | CUSIP: 62387TAB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $862350.00    | 0.04%             | 2041-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MOUNTAIN BROOK MET DIST COLO                                   | CO MTBFAC 4.75 12/01/2051                                               | CUSIP: 62387TAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7740000 | PA      | $6195560.40   | 0.32%             | 2051-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MONUMENT JCT MET DIST NO 1 COLO                                | CO MJMFAC 5.75 12/01/2051                                               | CUSIP: 61540FAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12258000 | PA      | $11471281.56  | 0.59%             | 2051-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MOUNT CARBON MET DIST COLO                                     | CO MOUFAC 8 06/01/2043                                                  | CUSIP: 62081AAC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    521078 | PA      | $521291.73    | 0.03%             | 2043-06-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| MIRABELLE MET DIST NO 2 COLO                                   | CO MIRFAC 6.12 12/15/2049                                               | CUSIP: 60458HAX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1983060.00   | 0.10%             | 2049-12-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| MINERAL BUSINESS IMPT DIST COLO                                | CO MBUDEV 5.75 12/01/2054                                               | CUSIP: 60284AAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1761130.00   | 0.09%             | 2054-12-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| MIGHTY ARGO MET DIST NO 2 COLO                                 | CO MTADEV 7 12/01/2055                                                  | CUSIP: 59863WAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9990000 | PA      | $10003086.90  | 0.51%             | 2055-12-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MILLARD CNTY UTAH                                              | UT MLLDEV 10 12/15/2034                                                 | CUSIP: 600066AA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9905000 | PA      | $9357649.70   | 0.48%             | 2034-12-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| MEADOWS MET DIST COLO                                          | CO MEAGEN 8 06/01/2029                                                  | CUSIP: 582903BW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  15440000 | PA      | $15280041.60  | 0.78%             | 2029-06-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| MEADOWS MET DIST COLO                                          | CO MEAGEN 8 06/01/2029                                                  | CUSIP: 582903BV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  23830000 | PA      | $23583121.20  | 1.21%             | 2029-06-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| MAYFIELD MET DIST COLO                                         | CO MAYDEV 3 12/15/2050                                                  | CUSIP: 578287AC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    766000 | PA      | $333501.08    | 0.02%             | 2050-12-15      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| MEADOWS MET DIST COLO                                          | CO MEAGEN 8 06/01/2029                                                  | CUSIP: 582903BU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  30730000 | PA      | $30411637.20  | 1.56%             | 2029-06-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| MAYFIELD MET DIST COLO                                         | CO MAYDEV 8.25 12/15/2050                                               | CUSIP: 578287AB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    622000 | PA      | $622497.60    | 0.03%             | 2050-12-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| MAYFIELD MET DIST COLO                                         | CO MAYDEV 5.75 12/01/2050                                               | CUSIP: 578287AA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1174000 | PA      | $1183286.34   | 0.06%             | 2050-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| LORETTO HEIGHTS CMNTY AUTH COLO                                | CO LOHDEV 4.88 12/01/2051                                               | CUSIP: 544084AA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12750000 | PA      | $10084102.50  | 0.52%             | 2051-12-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| LEGATO CMNTY AUTH COLO                                         | CO LEGDEV 4 12/01/2036                                                  | CUSIP: 52473TAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2130000 | PA      | $1849777.20   | 0.09%             | 2036-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEGATO CMNTY AUTH COLO                                         | CO LEGDEV 5 12/01/2046                                                  | CUSIP: 52473TAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $881160.00    | 0.05%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANTERNS MET DIST NO 2 COLO                                    | CO LTNFAC 4.5 12/01/2050                                                | CUSIP: 51654DAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12492000 | PA      | $9657315.36   | 0.50%             | 2050-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| LANTERNS MET DIST NO 3 COLO                                    | CO LANDEV 0 12/01/2053                                                  | CUSIP: 51654GAB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $1880370.00   | 0.10%             | 2053-12-01      | Variable      | 8.00%                 | Yes           |                  2 | On Loan: No      |
| LAFFERTY CANYON MET DIST COLO                                  | CO FLRDEV 8 12/15/2055                                                  | CUSIP: 50682FAB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    835000 | PA      | $834206.75    | 0.04%             | 2055-12-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| LAKES MET DIST NO 4 COLO                                       | CO LKSFAC 5.5 12/01/2061                                                | CUSIP: 51206HAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  20080000 | PA      | $17766583.20  | 0.91%             | 2061-12-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| KARLS FARM MET DIST NO 2 COLO                                  | CO KLFDEV 6.2 12/15/2044                                                | CUSIP: 48565KAC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    567000 | PA      | $572284.44    | 0.03%             | 2044-12-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| LAFFERTY CANYON MET DIST COLO                                  | CO FLRDEV 5.62 12/01/2055                                               | CUSIP: 50682FAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1509375.00   | 0.08%             | 2055-12-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CTR MET DIST NO 1 COLO                               | CO JFFGEN 5.75 12/15/2050                                               | CUSIP: 47248EAC6<br>LEI: 549300S1EAFO90X8HQ88 | Long             | DBT              | MUN               | US        |  14414000 | PA      | $14435044.44  | 0.74%             | 2050-12-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| JORDANELLE RIDGE PUB INFRASTRUCTURE DIST NO 2 UTAH             | UT JRIDEV 7.88 03/15/2055                                               | CUSIP: 480790AC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4072560.00   | 0.21%             | 2055-03-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| JAY GROVE MET DIST COLO                                        | CO JGMFAC 4.25 12/01/2051                                               | CUSIP: 472043AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2450000 | PA      | $1891571.50   | 0.10%             | 2051-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| JEFFCO BUSINESS CTR COLO MET DIST NO 1                         | Jeffco Business Center MD #1 - Series A - 2025                          | CUSIP: 47231RAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1006000 | PA      | $1023296.16   | 0.05%             | 2028-05-01      | Fixed         | 8.00%                 | No            |                  3 | On Loan: No      |
| HOGBACK MET DIST COLO                                          | CO HOGDEV 5 12/01/2041                                                  | CUSIP: 434610AA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4501890.00   | 0.23%             | 2041-12-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| INSPIRATION MET DIST COLO                                      | CO INSDEV 5 12/15/2036                                                  | CUSIP: 457723AB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    703000 | PA      | $666683.02    | 0.03%             | 2036-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HUNTERS OVERLOOK MET DIST NO 7 COLO                            | CO HNTFAC 5.5 12/01/2051                                                | CUSIP: 44578EAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3525000 | PA      | $3267322.50   | 0.17%             | 2051-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HYLAND VLG MET DIST COLO                                       | CO HYLMET 12/01/2027                                                    | CUSIP: 44908YAB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4770000 | PA      | $4102200.00   | 0.21%             | 2027-12-01      | Variable      | 10.00%                | No            |                  2 | On Loan: No      |
| COLORADO SCIENCE & TECHNOLOGY PK MET DIST NO 1                 | CO CSTFAC 4.5 12/15/2044                                                | CUSIP: 19658CBB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $213292.90    | 0.01%             | 2044-12-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HORIZON MET DIST NO 2 COLO                                     | CO HRZFAC 4.5 12/01/2051                                                | CUSIP: 44056CAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11657000 | PA      | $9149812.44   | 0.47%             | 2051-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| COLORADO INTL CTR MET DIST NO 7                                | CO CICDEV 0 12/01/2051                                                  | CUSIP: 19650TAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  21285000 | PA      | $17613550.35  | 0.90%             | 2051-12-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HSG & FIN AUTH                                        | CO COSHSG 01/01/2032                                                    | CUSIP: 19647WAA6<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | MUN               | US        |   3475000 | PA      | $3475000.00   | 0.18%             | 2032-01-01      | Variable      | 3.37%                 | No            |                  2 | On Loan: No      |
| COLORADO CROSSING MET DIST NO 2 COLO                           | CO CCRGEN 5 12/01/2047                                                  | CUSIP: 19645YAB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3850760.00   | 0.20%             | 2047-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO CROSSING MET DIST NO 2 COLO                           | CO CCRGEN 5 12/01/2050                                                  | CUSIP: 19645YAD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3790720.00   | 0.19%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                              | CO COSEDU 6.12 06/15/2032                                               | CUSIP: 19645UTV6<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   5175000 | PA      | $5239480.50   | 0.27%             | 2032-06-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                              | CO COSEDU 7.5 06/15/2031                                                | CUSIP: 19645UTW4<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |    270000 | PA      | $272505.60    | 0.01%             | 2031-06-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                              | CO COSEDU 7.5 07/01/2030                                                | CUSIP: 19645UQR8<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |    500000 | PA      | $150000.00    | 0.01%             | 2030-07-01      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                              | CO COSEDU 5.85 06/15/2029                                               | CUSIP: 19645UNT7<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |  11630000 | PA      | $11632442.30  | 0.60%             | 2029-06-15      | Fixed         | 5.85%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                              | CO COSEDU 7 07/01/2030                                                  | CUSIP: 19645UQQ0<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |  10595000 | PA      | $3178500.00   | 0.16%             | 2030-07-01      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                              | CO COSEDU 5 01/01/2037                                                  | CUSIP: 19645UMT8<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   3595000 | PA      | $3582705.10   | 0.18%             | 2037-01-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                              | CO COSEDU 4.88 01/01/2032                                               | CUSIP: 19645UMS0<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   3785000 | PA      | $3824515.40   | 0.20%             | 2032-01-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                              | CO COSEDU 5.12 01/01/2042                                               | CUSIP: 19645UMU5<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |  40335000 | PA      | $39602113.05  | 2.03%             | 2042-01-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                              | CO COSEDU 6.12 07/01/2031                                               | CUSIP: 19645UMZ4<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   1960000 | PA      | $1949925.60   | 0.10%             | 2031-07-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                              | CO COSEDU 4.75 07/01/2029                                               | CUSIP: 19645UMJ0<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   5810000 | PA      | $5800355.40   | 0.30%             | 2029-07-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                              | CO COSEDU 4.75 07/01/2029                                               | CUSIP: 19645UMG6<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   3945000 | PA      | $3933441.15   | 0.20%             | 2029-07-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                              | CO COSEDU 5 07/01/2032                                                  | CUSIP: 19645UMQ4<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |  65300000 | PA      | $65564465.00  | 3.36%             | 2032-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                              | CO COSEDU 6 07/01/2029                                                  | CUSIP: 19645UMR2<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   1605000 | PA      | $1604374.05   | 0.08%             | 2029-07-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                              | CO COSEDU 4.5 07/15/2028                                                | CUSIP: 19645UMA9<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |  19405000 | PA      | $18322201.00  | 0.94%             | 2028-07-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                              | CO COSEDU 4.5 07/01/2051                                                | CUSIP: 19645UKQ6<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |  13070000 | PA      | $9592726.50   | 0.49%             | 2051-07-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                              | CO COSEDU 4.75 07/15/2029                                               | CUSIP: 19645UMC5<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   7790000 | PA      | $7591277.10   | 0.39%             | 2029-07-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                              | CO COSEDU 4.25 07/01/2041                                               | CUSIP: 19645UKP8<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   5040000 | PA      | $4077813.60   | 0.21%             | 2041-07-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                              | CO COSEDU 4.5 06/01/2027                                                | CUSIP: 19645UCH5<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |  17075000 | PA      | $17071755.75  | 0.88%             | 2027-06-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| COLORADO CENTRE MET DIST COLO                                  | CO CCTFAC 9 01/01/2027                                                  | CUSIP: 196345BL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2131449 | PA      | $383660.82    | 0.02%             | 2027-01-01      | None          | 9.00%                 | No            |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                              | CO COSEDU 4.38 06/01/2027                                               | CUSIP: 19645UEB6<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   8245000 | PA      | $8109039.95   | 0.42%             | 2027-06-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                              | CO COSEDU 4.38 07/01/2027                                               | CUSIP: 19645UEJ9<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |  35405000 | PA      | $33946668.05  | 1.74%             | 2027-07-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| COLLIERS HILL MET DIST NO 3 COLO                               | CO CLHDEV 8.5 12/15/2043                                                | CUSIP: 194691AC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2213000 | PA      | $2221254.49   | 0.11%             | 2043-12-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| COLLIERS HILL MET DIST NO 3 COLO                               | CO CLHDEV 5.5 12/01/2048                                                | CUSIP: 194691AB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  18250000 | PA      | $18328475.00  | 0.94%             | 2048-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| COLORADO CENTRE MET DIST COLO                                  | CO CCTFAC 10.2 01/01/2032                                               | CUSIP: 196345BJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6592306 | PA      | $2966537.70   | 0.15%             | 2032-01-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| COLORADO CENTRE MET DIST COLO                                  | CO CCTFAC 0 01/01/2027                                                  | CUSIP: 196345BK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2074674 | PA      | $1999238.85   | 0.10%             | 2027-01-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CLOVERLEAF MET DIST COLO                                       | CO CLOFAC 9.25 12/15/2051                                               | CUSIP: 189243AB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1034000 | PA      | $1033162.46   | 0.05%             | 2051-12-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| CLOVERLEAF MET DIST COLO                                       | CO CLOFAC 6 12/01/2051                                                  | CUSIP: 189243AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2330000 | PA      | $2360383.20   | 0.12%             | 2051-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| COLLIERS HILL MET DIST NO 2 COLO                               | CO COHFAC 5.75 12/15/2047                                               | CUSIP: 194689AS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2231000 | PA      | $2176697.46   | 0.11%             | 2047-12-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| COLLIERS HILL MET DIST NO 3 COLO                               | CO CLHDEV 5.25 12/01/2040                                               | CUSIP: 194691AA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8300000 | PA      | $8199404.00   | 0.42%             | 2040-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CITYSET MET DIST NO 2 COLO                                     | CO CTYGEN 4.5 12/01/2045                                                | CUSIP: 17878CAC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3180000 | PA      | $2747297.40   | 0.14%             | 2045-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CLEAR CREEK TRAN MET DIST NO 2 COLO                            | CO TRSFAC 5 12/01/2041                                                  | CUSIP: 184542AB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1886000 | PA      | $1532073.24   | 0.08%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLEAR CREEK TRAN MET DIST NO 2 COLO                            | CO TRSFAC 5 12/01/2050                                                  | CUSIP: 184542AC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4100000 | PA      | $3045562.00   | 0.16%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHERRY HILLS CITY MET DIST COLO                                | CO CHLFAC 5 12/01/2047                                                  | CUSIP: 164684AA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1370000 | PA      | $1298472.30   | 0.07%             | 2047-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CIELO MET DIST COLO                                            | CO CIEGEN 5.25 12/01/2050                                               | CUSIP: 17190EAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12442000 | PA      | $10870326.56  | 0.56%             | 2050-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CITYSET MET DIST NO 2 COLO                                     | CO CTYGEN 3.5 12/01/2030                                                | CUSIP: 17878CAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3965000 | PA      | $3703310.00   | 0.19%             | 2030-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CHERRY CREEK COLO SOUTH MET DIST NO 5                          | CO CCKFAC 6 12/01/2051                                                  | CUSIP: 16456CAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  22500000 | PA      | $20827125.00  | 1.07%             | 2051-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BUCKLEY YD MET DIST NO 2 COLO                                  | CO BYADEV 6.25 12/01/2052                                               | CUSIP: 118473AA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6800000 | PA      | $6689432.00   | 0.34%             | 2052-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BUCKLEY YD MET DIST NO 2 COLO                                  | CO BYADEV 9.25 12/15/2052                                               | CUSIP: 118473AB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1569000 | PA      | $1568325.33   | 0.08%             | 2052-12-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| CCP MET DIST NO 3 COLO                                         | CO CCPDEV 5 12/01/2053                                                  | CUSIP: 12520DAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1192000 | PA      | $1162736.40   | 0.06%             | 2053-12-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CSA Buildings FAC LLC / Colo Skies Academy                     | CSA Buildings FAC LLC / Colo Skies Academy 8% NTS 01/07/2030 USD (144A) | CUSIP: 12674FAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    935000 | PA      | $280500.00    | 0.01%             | 2030-07-01      | Fixed         | 0.00%                 | Yes           |                  3 | On Loan: No      |
| BRIGHTON CROSSING MET DIST NO 6 COLO                           | CO BTCGEN 5 12/01/2035                                                  | CUSIP: 10933PAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $533909.25    | 0.03%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRIGHTON CROSSING MET DIST NO 6 COLO                           | CO BTCGEN 5 12/01/2040                                                  | CUSIP: 10933PAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1545000 | PA      | $1557066.45   | 0.08%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRIGHTON CROSSING MET DIST NO 6 COLO                           | CO BTCGEN 5 12/01/2050                                                  | CUSIP: 10933PAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9020000 | PA      | $8583612.40   | 0.44%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BROOMFIELD VLG MET DIST NO 2 COLO                              | CO BROFAC 5 12/01/2049                                                  | CUSIP: 114779AE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1382000 | PA      | $1292004.16   | 0.07%             | 2049-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BENNETT RANCH MET DIST NO 1 COLO                               | CO BNRDEV 7.5 12/15/2051                                                | CUSIP: 08218DAC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1221000 | PA      | $1152819.36   | 0.06%             | 2051-12-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BENT GRASS MET DIST COLO                                       | CO BGMDEV 5.75 12/01/2054                                               | CUSIP: 082623AB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7180000 | PA      | $7359356.40   | 0.38%             | 2054-12-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| BOULDER CNTY COLO                                              | CO BOUDEV 6.35 10/15/2031                                               | CUSIP: 10146BEG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4315000 | PA      | $1128562.02   | 0.06%             | 2031-10-15      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| BRADBURN MET DIST NO 2 COLO                                    | CO BRAGEN 7.5 12/15/2051                                                | CUSIP: 103844AG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3271000 | PA      | $3210028.56   | 0.16%             | 2051-12-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BELFORD NORTH MET DIST COLO                                    | CO BFNDEV 8.5 12/15/2050                                                | CUSIP: 077690AB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3475000 | PA      | $3480177.75   | 0.18%             | 2050-12-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| BELLA MESA MET DIST COLO                                       | CO BLMGEN 6.75 12/01/2049                                               | CUSIP: 07819PAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7565000 | PA      | $7788999.65   | 0.40%             | 2049-12-01      | Variable      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| BENNETT CROSSING MET DIST NO 1 COLO                            | CO BCRFAC 6.12 12/01/2049                                               | CUSIP: 082160AA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6160000 | PA      | $6232811.20   | 0.32%             | 2049-12-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| BENNETT RANCH MET DIST NO 1 COLO                               | CO BNRDEV 5 12/01/2051                                                  | CUSIP: 08218DAB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2509650.00   | 0.13%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AURORA CROSSROADS MET DIST NO 2 COLO                           | CO AUCDEV 0 12/01/2055                                                  | CUSIP: 05162QAF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2240000 | PA      | $1986342.40   | 0.10%             | 2055-12-01      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| BANNING LEWIS RANCH REGL MET DIST COLO                         | CO BANFAC 5.38 12/01/2048                                               | CUSIP: 066639AA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2425650.00   | 0.12%             | 2048-12-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| TABERNASH MEADOWS WTR & SANTN DIST COLO                        | Tabernash Pole Creek Note - 2026                                        | CUSIP: MS1352173<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    227347 | PA      | $189000.00    | 0.01%             | 2026-12-31      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| WYNDHAM MET DIST NO 2 COLO                                     | CO WYNGWN 7.62 12/15/2049                                               | CUSIP: 98310UAX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9600000 | PA      | $9612384.00   | 0.49%             | 2049-12-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| WOODMEN HEIGHTS MET DIST NO 2 COLO                             | CO WOHDEV 6.25 12/15/2040                                               | CUSIP: 979841AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1694000 | PA      | $1675687.86   | 0.09%             | 2040-12-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| WOODMEN HEIGHTS MET DIST NO 2 COLO                             | CO WOHDEV 7.5 12/15/2040                                                | CUSIP: 979841AB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3358000 | PA      | $3378886.76   | 0.17%             | 2040-12-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| THOMPSON CROSSING MET DIST NO 5 COLO                           | CO THMDEV 6 12/01/2055                                                  | CUSIP: 88477FAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3765000 | PA      | $3750843.60   | 0.19%             | 2055-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| THOMPSON CROSSING MET DIST NO 5 COLO                           | CO THMDEV 8.5 12/15/2055                                                | CUSIP: 88477FAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    999000 | PA      | $995933.07    | 0.05%             | 2055-12-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| THIRD CREEK MET DIST NO 1 COLO                                 | CO TCMFAC 4.5 12/01/2042                                                | CUSIP: 88423EAB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3140000 | PA      | $2629467.40   | 0.13%             | 2042-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| THIRD CREEK MET DIST NO 1 COLO                                 | CO TCMFAC 4.5 12/01/2037                                                | CUSIP: 88423EAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1130000 | PA      | $1018954.90   | 0.05%             | 2037-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SOLEIL HILLS PUB INFRASTRUCTURE DIST NO 1 UTAH                 | UT SOLDEV 5.88 03/01/2055                                               | CUSIP: 834201AA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2425000 | PA      | $2426624.75   | 0.12%             | 2055-03-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| SOLITUDE MET DIST COLO DOUGLAS CNTY                            | CO SOL 7 12/01/2026                                                     | CUSIP: 834257AA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3520000 | PA      | $3520000.00   | 0.18%             | 2026-12-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SCOTT GULCH MET DIST COLO                                      | CO SGLDEV 8.75 12/15/2053                                               | CUSIP: 809746AB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    694000 | PA      | $693805.68    | 0.04%             | 2053-12-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| SHERIDAN REDEV AGY COLO                                        | CO SHEDEV 12/01/2029                                                    | CUSIP: 82382LAJ8<br>LEI: 5493004D6ZS0F24QIZ32 | Long             | DBT              | MUN               | US        |  27205000 | PA      | $27205000.00  | 1.40%             | 2029-12-01      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| QUANTUM 56 MET DIST COLO                                       | CO QNTDEV 6.25 09/01/2055                                               | CUSIP: 74767DAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7203210.00   | 0.37%             | 2055-09-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| QUANTUM 56 MET DIST COLO                                       | CO QNTDEV 8.25 09/02/2055                                               | CUSIP: 74767DAB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1575000 | PA      | $1575204.75   | 0.08%             | 2055-09-02      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP                                | PR PRCGEN 4.33 07/01/2040                                               | CUSIP: 74529JRH0<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |   1424000 | PA      | $1393213.12   | 0.07%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP                                | PR PRCGEN 0 07/01/2051                                                  | CUSIP: 74529JQH1<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |   2930000 | PA      | $732968.80    | 0.04%             | 2051-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP                                | PR PRCGEN 0 07/01/2033                                                  | CUSIP: 74529JQF5<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |    378000 | PA      | $286236.72    | 0.01%             | 2033-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP                                | PR PRCGEN 0 07/01/2046                                                  | CUSIP: 74529JQG3<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |   3597000 | PA      | $1201469.94   | 0.06%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP                                | PR PRCGEN 0 07/01/2031                                                  | CUSIP: 74529JQE8<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |    336000 | PA      | $276047.52    | 0.01%             | 2031-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP                                | PR PRCGEN 0 07/01/2029                                                  | CUSIP: 74529JQD0<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |    260000 | PA      | $230932.00    | 0.01%             | 2029-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP                                | PR PRCGEN 5 07/01/2058                                                  | CUSIP: 74529JPX7<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |   2600000 | PA      | $2503176.00   | 0.13%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP                                | PR PRCGEN 0 07/01/2027                                                  | CUSIP: 74529JQC2<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |    191000 | PA      | $181495.84    | 0.01%             | 2027-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP                                | PR PRCGEN 4.75 07/01/2053                                               | CUSIP: 74529JPW9<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |   1028000 | PA      | $968951.68    | 0.05%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP                                | PR PRCGEN 4.55 07/01/2040                                               | CUSIP: 74529JPV1<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |    140000 | PA      | $140051.80    | 0.01%             | 2040-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                            | PR PRC 11/01/2043                                                       | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    356605 | PA      | $228227.33    | 0.01%             | 2043-11-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP                                | PR PRCGEN 4.5 07/01/2034                                                | CUSIP: 74529JPU3<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |    277000 | PA      | $277005.54    | 0.01%             | 2034-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                            | PR PRC 0 07/01/2033                                                     | CUSIP: 74514L3R6<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    119142 | PA      | $86215.92     | 0.00%             | 2033-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                            | PR PRC 4 07/01/2046                                                     | CUSIP: 74514L3P0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    100990 | PA      | $88108.73     | 0.00%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                            | PR PRC 4 07/01/2037                                                     | CUSIP: 74514L3M7<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |     71422 | PA      | $69236.49     | 0.00%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                            | PR PRC 4 07/01/2041                                                     | CUSIP: 74514L3N5<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |     97107 | PA      | $89784.16     | 0.00%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HOGBACK MET DIST COLO                                          | CO HOGDEV 5 12/01/2051                                                  | CUSIP: 434610AB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1448506.00   | 0.07%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAWKVIEW MET DIST COLO                                         | CO HMDDEV 5.88 12/01/2055                                               | CUSIP: 42034TAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6080000 | PA      | $6044188.80   | 0.31%             | 2055-12-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| HANCOCK MET DIST NO 1 COLO                                     | CO HCKDEV 6.38 12/01/2055                                               | CUSIP: 410181AA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6525000 | PA      | $6535831.50   | 0.34%             | 2055-12-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| HANCOCK MET DIST NO 1 COLO                                     | CO HCKDEV 8.38 12/15/2055                                               | CUSIP: 410181AB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1007000 | PA      | $1008883.09   | 0.05%             | 2055-12-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| GREENWAYS MET DIST NO 1 COLO                                   | CO GRMFAC 4.62 12/01/2051                                               | CUSIP: 39679VAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6845000 | PA      | $5372298.25   | 0.28%             | 2051-12-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| GREENSPIRE MET DIST NO 1 COLO                                  | CO GRSFAC 5.12 12/01/2051                                               | CUSIP: 39572QAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1925000 | PA      | $1731460.50   | 0.09%             | 2051-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| GREEN VY RANCH EAST MET DIST NO 9 COLO                         | CO GVYDEV 0 12/01/2055                                                  | CUSIP: 39356SAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $1959875.00   | 0.10%             | 2055-12-01      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |
| GREEN VY RANCH EAST MET DIST NO 9 COLO                         | CO GVYDEV 8 12/15/2055                                                  | CUSIP: 39356SAB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1025000 | PA      | $1025502.25   | 0.05%             | 2055-12-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| GREEN VY RANCH EAST MET DIST NO 6 COLO                         | CO GRNDEV 5.88 12/01/2050                                               | CUSIP: 39356MAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3325000 | PA      | $3368058.75   | 0.17%             | 2050-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| GRANARY MET DIST NO 5 COLO                                     | CO GNYGEN 0 12/01/2034                                                  | CUSIP: 38503BAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9455000 | PA      | $5386513.50   | 0.28%             | 2034-12-01      | None          | 6.75%                 | No            |                  2 | On Loan: No      |
| GREEN GABLES MET DIST NO 2 COLO                                | CO GGBFAC 8.25 12/15/2053                                               | CUSIP: 39305PAT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2984000 | PA      | $2983612.08   | 0.15%             | 2053-12-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| GRANARY MET DIST NO 5 COLO                                     | CO GNYFAC 6.25 12/01/2055                                               | CUSIP: 38503AAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5480000 | PA      | $5631412.40   | 0.29%             | 2055-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| GRANARY MET DIST NO 5 COLO                                     | CO GNYFAC 8.75 12/15/2055                                               | CUSIP: 38503AAB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1141000 | PA      | $1135180.90   | 0.06%             | 2055-12-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| GOLDEN OVERLOOK MET DIST COLO                                  | CO GLOFAC 6.12 12/01/2054                                               | CUSIP: 38115CAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4634145.00   | 0.24%             | 2054-12-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| GOLDEN OVERLOOK MET DIST COLO                                  | CO GLOFAC 8.75 12/15/2054                                               | CUSIP: 38115CAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1347000 | PA      | $1346003.22   | 0.07%             | 2054-12-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA                      | FLNDRE 5.75 07/01/34 2020                                               | CUSIP: 338497BU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3600000 | PA      | $3530736.00   | 0.18%             | 2034-07-01      | Fixed         | 5.60%                 | Yes           |                  2 | On Loan: No      |
| GOLDEN EAGLE ACRES MET DIST NO 2 COLO                          | CO GEADEV 4.5 12/01/2051                                                | CUSIP: 38089NAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2150000 | PA      | $1780780.50   | 0.09%             | 2051-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FLYING HORSE MET DIST NO 2 COLO                                | CO FLYGEN 7.25 12/15/2050                                               | CUSIP: 34407NBC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  15041000 | PA      | $15055589.77  | 0.77%             | 2050-12-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| FLYING HORSE MET DIST NO 3 COLO                                | CO FLYGEN 6 12/01/2049                                                  | CUSIP: 34407UAB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2965000 | PA      | $2969714.35   | 0.15%             | 2049-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA                      | FLNDRE 6 07/01/40 2020                                                  | CUSIP: 338497BW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7730000 | PA      | $6378641.40   | 0.33%             | 2040-07-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA                      | FLNDRE 5.75 07/01/33 2020                                               | CUSIP: 338497BT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1160000 | PA      | $1036077.20   | 0.05%             | 2033-07-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA                      | FLNDRE 5.75 07/01/30 2020                                               | CUSIP: 338497BQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    980000 | PA      | $911919.40    | 0.05%             | 2030-07-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA                      | FLNDRE 5.75 07/01/31 2020                                               | CUSIP: 338497BR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1040000 | PA      | $955167.20    | 0.05%             | 2031-07-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA                      | FLNDRE 5.75 07/01/28 2020                                               | CUSIP: 338497BN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $837331.25    | 0.04%             | 2028-07-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA                      | FLNDRE 5.75 07/01/29 2020                                               | CUSIP: 338497BP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    930000 | PA      | $877901.40    | 0.05%             | 2029-07-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA                      | FLNDRE 5.75 07/01/26 2020                                               | CUSIP: 338497BL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    785000 | PA      | $777055.80    | 0.04%             | 2026-07-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA                      | FLNDRE 5.75 07/01/27 2020                                               | CUSIP: 338497BM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    830000 | PA      | $806461.20    | 0.04%             | 2027-07-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA                      | FLNDRE 8.28 01/01/28 2028                                               | CUSIP: 338497BF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1305000 | PA      | $1289757.60   | 0.07%             | 2028-01-01      | Fixed         | 8.28%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA                      | FLNDRE 8.28 01/01/34 A                                                  | CUSIP: 338497BH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8670000 | PA      | $8428193.70   | 0.43%             | 2034-01-01      | Fixed         | 8.28%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA                      | FLNDRE 8.28 01/01/26 2026                                               | CUSIP: 338497BB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1115000 | PA      | $1115000.00   | 0.06%             | 2026-01-01      | Fixed         | 8.28%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA                      | FLNDRE 8.28 01/01/27 2027                                               | CUSIP: 338497BD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1205000 | PA      | $1196010.70   | 0.06%             | 2027-01-01      | Fixed         | 8.28%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA                      | FLNDRE 6 01/01/38 B                                                     | CUSIP: 338497AK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6120000 | PA      | $5407815.60   | 0.28%             | 2038-01-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA                      | FLNDRE 6 01/01/38 C                                                     | CUSIP: 338497AM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5450000 | PA      | $4815783.50   | 0.25%             | 2038-01-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA                      | FLNDRE 5 01/01/26                                                       | CUSIP: 338497AC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    610000 | PA      | $610000.00    | 0.03%             | 2026-01-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA                      | FLNDRE 5.5 01/01/31                                                     | CUSIP: 338497AE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3565000 | PA      | $3142155.35   | 0.16%             | 2031-01-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA                      | FLNDRE 5.75 01/01/36                                                    | CUSIP: 338497AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6055000 | PA      | $4797497.60   | 0.25%             | 2036-01-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| FITZSIMONS VLG MET DIST NO 3 COLO                              | CO FITFAC 4 12/01/2041                                                  | CUSIP: 33829NAC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4445000 | PA      | $3850659.05   | 0.20%             | 2041-12-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| FITZSIMONS VLG MET DIST NO 3 COLO                              | CO FITFAC 4.25 12/01/2055                                               | CUSIP: 33829NAD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9660000 | PA      | $7605511.20   | 0.39%             | 2055-12-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| FITZSIMONS VLG MET DIST NO 1 COLO                              | CO FITFAC 7 12/15/2049                                                  | CUSIP: 33829KAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    611000 | PA      | $611837.07    | 0.03%             | 2049-12-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FIELDS ESTATES PUB INFRASTRUCTURE DIST UTAH                    | UT FESDEV 8.75 03/15/2055                                               | CUSIP: 316576AB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    504000 | PA      | $513611.28    | 0.03%             | 2055-03-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| FIELDS MET DIST NO 1 COLO                                      | CO FLDFAC 8.25 12/15/2055                                               | CUSIP: 316578AB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1207000 | PA      | $1206312.01   | 0.06%             | 2055-12-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| FIELDS ESTATES PUB INFRASTRUCTURE DIST UTAH                    | UT FESDEV 5.25 12/01/2053                                               | CUSIP: 31657CAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2684247.50   | 0.14%             | 2053-12-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| ERIE HIGHLANDS MET DIST NO 2 COLO                              | CO ERHFAC 7.62 12/15/2048                                               | CUSIP: 295272AB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1819000 | PA      | $1821764.88   | 0.09%             | 2048-12-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| ERIE HIGHLANDS MET DIST NO 2 COLO                              | CO ERHFAC 5.25 12/01/2048                                               | CUSIP: 295272AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6004140.00   | 0.31%             | 2048-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD         | Freddie Mac - 2035                                                      | CUSIP: 31394PKC6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | CORP              | US        |    235948 | PA      | $244127.28    | 0.01%             | 2035-08-15      | Fixed         | 6.50%                 | No            |                  3 | On Loan: No      |
| FIELDS ESTATES PUB INFRASTRUCTURE DIST UTAH                    | UT FESDEV 6.12 03/01/2055                                               | CUSIP: 316576AA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $831129.75    | 0.04%             | 2055-03-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| EASTERN HILLS MET DIST NO 10 COLO                              | CO EHLDEV 6 12/01/2055                                                  | CUSIP: 27649AAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8755000 | PA      | $8950324.05   | 0.46%             | 2055-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| EAGLE BROOK MEADOWS MET DIST NO 3 COLO                         | CO EGBFAC 5 12/01/2051                                                  | CUSIP: 26943TAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1491616.00   | 0.08%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EASTERN HILLS MET DIST NO 10 COLO                              | CO EHLDEV 8.25 12/15/2055                                               | CUSIP: 27649AAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1802000 | PA      | $1800846.72   | 0.09%             | 2055-12-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| ELORA MET DIST COLO                                            | CO ELODEV 6 12/01/2055                                                  | CUSIP: 290141AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5120700.00   | 0.26%             | 2055-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DEER CREEK VILLAS MET DIST COLO                                | CO DECDEV 5 12/01/2055                                                  | CUSIP: 24382CAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6085000 | PA      | $5677061.60   | 0.29%             | 2055-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DAKOTA RIDGE MET DIST COLO                                     | CO DRMFAC 6 12/01/2052                                                  | CUSIP: 23426AAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2339000 | PA      | $2355606.90   | 0.12%             | 2052-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO INTL BUSINESS CTR MET DIST NO 1                    | CO DENDEV 6 12/01/2048                                                  | CUSIP: 249197BB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4573000 | PA      | $4584615.42   | 0.24%             | 2048-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| E-86 MET DIST COLO                                             | CO EMDDEV 5.12 12/01/2051                                               | CUSIP: 26843GAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4060000 | PA      | $3538411.80   | 0.18%             | 2051-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CONIFER MET DIST COLO                                          | CO CNFGEN 7 12/01/2030                                                  | CUSIP: 20731NAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  13545000 | PA      | $13435962.75  | 0.69%             | 2030-12-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| COPPERLEAF MET DIST NO 9 COLO                                  | CO CPPGEN 4.88 12/01/2051                                               | CUSIP: 21765TAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8175000 | PA      | $6533705.25   | 0.34%             | 2051-12-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| COUNTRY CLUB HIGHLANDS MET DIST COLO                           | CO CCVGEN 7.25 12/01/2037                                               | CUSIP: 222334AA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1030000 | PA      | $947600.00    | 0.05%             | 2037-12-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CROWFOOT VY RANCH MET DIST NO 2 COLO                           | CO CVRDEV 6.12 12/15/2054                                               | CUSIP: 22802CAX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2673275.00   | 0.14%             | 2054-12-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CONIFER MET DIST COLO                                          | CO CNFGEN 7 12/01/2030                                                  | CUSIP: 20731NAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $4749604.10   | 0.24%             | 2030-12-01      | Fixed         | 1.73%                 | Yes           |                  3 | On Loan: No      |
| CONIFER MET DIST COLO                                          | CO CNFGEN 7 12/01/2032                                                  | CUSIP: 20731NAB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $688692.59    | 0.04%             | 2032-12-01      | Fixed         | 1.73%                 | No            |                  3 | On Loan: No      |
| CONIFER MET DIST COLO                                          | CO CNFGEN 7 12/01/2033                                                  | CUSIP: 20731NAC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1550000 | PA      | $736188.64    | 0.04%             | 2033-12-01      | Fixed         | 1.73%                 | No            |                  3 | On Loan: No      |
| PUERTO RICO COMWLTH                                            | PR PRC 4 07/01/2035                                                     | CUSIP: 74514L3L9<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |     83217 | PA      | $81776.51     | 0.00%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLORADO SCIENCE & TECHNOLOGY PK MET DIST NO 1                 | CO CSTFAC 4.75 12/15/2054                                               | CUSIP: 19658CBC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    635000 | PA      | $631259.85    | 0.03%             | 2054-12-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| COLORADO SPRINGS COLO                                          | CO CSPUTL 11/01/2041                                                    | CUSIP: 196632NP4<br>LEI: 2549003N3PXBHQH2V448 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.05%             | 2041-11-01      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| CONESTOGA MET DIST NO 2 COLO                                   | CO CNMFAC 5.25 12/01/2051                                               | CUSIP: 207020AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1625000 | PA      | $1455740.00   | 0.07%             | 2051-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                            | PR PRC 5.62 07/01/2027                                                  | CUSIP: 74514L3G0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    102175 | PA      | $104357.46    | 0.01%             | 2027-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                            | PR PRC 5.62 07/01/2029                                                  | CUSIP: 74514L3H8<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    100517 | PA      | $106504.80    | 0.01%             | 2029-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                            | PR PRC 5.75 07/01/2031                                                  | CUSIP: 74514L3J4<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |     97632 | PA      | $107258.51    | 0.01%             | 2031-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                            | PR PRC 4 07/01/2033                                                     | CUSIP: 74514L3K1<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |     92580 | PA      | $92552.23     | 0.00%             | 2033-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| POWHATON CMNTY AUTH COLO                                       | CO PCADEV 5 12/01/2051                                                  | CUSIP: 73938BAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7450000 | PA      | $6627743.50   | 0.34%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRONGHORN VY MET DIST COLO                                     | CO PVMFAC 3.75 12/01/2041                                               | CUSIP: 74344YAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    515000 | PA      | $453210.30    | 0.02%             | 2041-12-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| PRONGHORN VY MET DIST COLO                                     | CO PVMFAC 4 12/01/2051                                                  | CUSIP: 74344YAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4400000 | PA      | $3563956.00   | 0.18%             | 2051-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                            | WI PUBEDU 5 06/01/2026                                                  | CUSIP: 74442EEK2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |  27740000 | PA      | $27637639.40  | 1.42%             | 2026-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| PIONEER CMNTY AUTH BRD COLO                                    | CO PICDEV 6.75 12/15/2050                                               | CUSIP: 72364TAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  24592000 | PA      | $24429692.80  | 1.25%             | 2050-12-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PLAZA MET DIST NO 1 COLO                                       | CO PLZGEN 5 12/01/2040                                                  | CUSIP: 72818QAX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5350000 | PA      | $5351819.00   | 0.27%             | 2040-12-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| PLAZA MET DIST NO 1 COLO                                       | CO PLZGEN 5 12/01/2040                                                  | CUSIP: 72818QAX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2500850.00   | 0.13%             | 2040-12-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| POINTE WEST PUB INFRASTRUCTURE DIST UTAH                       | UT PWEDEV 5.5 12/01/2053                                                | CUSIP: 73084NAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3090000 | PA      | $3086879.10   | 0.16%             | 2053-12-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| PARKER AUTOMOTIVE MET DIST COLO                                | CO PARGEN 5 12/01/2045                                                  | CUSIP: 701038AC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1772000 | PA      | $1810009.40   | 0.09%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PARTERRE MET DIST NO 5 COLO                                    | CO PTRDEV 5.88 12/01/2045                                               | CUSIP: 70211AAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1566600.00   | 0.08%             | 2045-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PARTERRE MET DIST NO 5 COLO                                    | CO PTRDEV 6.12 12/01/2055                                               | CUSIP: 70211AAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2358697.50   | 0.12%             | 2055-12-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| PARTERRE MET DIST NO 5 COLO                                    | CO PTRDEV 8.38 12/15/2055                                               | CUSIP: 70211AAD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1447868.50   | 0.07%             | 2055-12-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| PAINTED PRAIRIE PUB IMPT AUTH COLO                             | CO PAPGEN 4 12/01/2029                                                  | CUSIP: 69578NAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $924230.00    | 0.05%             | 2029-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PANORAMA PUB INFRASTRUCTURE DIST NO 1 UTAH                     | UT PPIFAC 6.25 03/01/2055                                               | CUSIP: 69862YAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3019920.00   | 0.15%             | 2055-03-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| PARKDALE CMNTY AUTH COLO                                       | CO PCDDEV 0 12/01/2053                                                  | CUSIP: 70089CAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5670000 | PA      | $4888787.40   | 0.25%             | 2053-12-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| PARKDALE CMNTY AUTH COLO                                       | CO PCDDEV 9 12/15/2053                                                  | CUSIP: 70089CAB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1391000 | PA      | $1390429.69   | 0.07%             | 2053-12-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| PV ERU Holding Trust                                           | PV ERU Holding Trust 0% NTS 14/02/2039 USD (144A)                       | CUSIP: 693690AB5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3122000 | PA      | $284351.60    | 0.01%             | 2039-02-14      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| PV ERU Holding Trust                                           | PV ERU Holding Trust 0% NTS 14/02/2039 USD (144A)                       | CUSIP: 693690AC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13168000 | PA      | $1199340.78   | 0.06%             | 2039-02-14      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| PV ERU Holding Trust                                           | PV ERU Holding Trust 0% NTS 14/02/2039 USD (144A)                       | CUSIP: 693690AD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  14000000 | PA      | $1275119.30   | 0.07%             | 2039-02-14      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| OGLALA SIOUX TRIBE S D                                         | OGLFAC 8 10/01/26 2018                                                  | CUSIP: 67662LAL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $801568.00    | 0.04%             | 2026-10-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| OGLALA SIOUX TRIBE S D                                         | OGLFAC 6.5 09/01/41 2018                                                | CUSIP: 676629AE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5505000 | PA      | $4643247.30   | 0.24%             | 2041-09-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| OGLALA SIOUX TRIBE S D                                         | OGLFAC 5.5 07/01/28                                                     | CUSIP: 676629AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1255540.00   | 0.06%             | 2028-07-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| OGLALA SIOUX TRIBE S D                                         | OGLFAC 6 07/01/37                                                       | CUSIP: 676629AC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9270000 | PA      | $7852802.40   | 0.40%             | 2037-07-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| OGLALA SIOUX TRIBE S D                                         | OGLFAC 4.5 10/01/27 2019                                                | CUSIP: 67662TAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2370000 | PA      | $2277546.30   | 0.12%             | 2027-10-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| OHIO HSG FIN AGY                                               | OH OHSMFH 7.75 01/15/2029                                               | CUSIP: 676900YE7<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |    745000 | PA      | $746147.30    | 0.04%             | 2029-01-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| OHIO HSG FIN AGY                                               | OH OHSMFH 7.75 01/15/2029                                               | CUSIP: 676900YG2<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |    530000 | PA      | $530985.80    | 0.03%             | 2029-01-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| PV ERU Holding Trust                                           | PV ERU Holding Trust 0% NTS 14/02/2039 USD (144A) (2006)                | CUSIP: 693690AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    710000 | PA      | $64666.76     | 0.00%             | 2039-02-14      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| WESTERLY MET DIST NO 4 COLO                                    | CO WSTDEV 0 12/01/2050                                                  | CUSIP: 957568AD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1895340.00   | 0.10%             | 2050-12-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| WHITE BUFFALO MET DIST NO 3 COLO                               | CO WBMFAC 5.5 12/01/2050                                                | CUSIP: 96350BAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4780000 | PA      | $4784732.20   | 0.25%             | 2050-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WESTERLY MET DIST NO 4 COLO                                    | CO WSTDEV 5 12/01/2050                                                  | CUSIP: 957568AC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5250000 | PA      | $4989075.00   | 0.26%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTERLY MET DIST NO 4 COLO                                    | CO WSTDEV 4.12 12/01/2031                                               | CUSIP: 957568AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $585468.00    | 0.03%             | 2031-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| WESTERLY MET DIST NO 4 COLO                                    | CO WSTDEV 5 12/01/2040                                                  | CUSIP: 957568AB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2255000 | PA      | $2256894.20   | 0.12%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEEMS NEIGHBORHOOD MET DIST COLO                               | CO WNMFAC 5.88 12/01/2055                                               | CUSIP: 948572AA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1534995.00   | 0.08%             | 2055-12-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| WATERFALL MET DIST NO 1 COLO                                   | CO WTFFAC 5.25 12/01/2052                                               | CUSIP: 94133FAC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2247000 | PA      | $2089170.72   | 0.11%             | 2052-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WEEMS NEIGHBORHOOD MET DIST COLO                               | CO WNMFAC 7.88 12/15/2055                                               | CUSIP: 948572AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1149000 | PA      | $1147253.52   | 0.06%             | 2055-12-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| WESTCREEK MET DIST NO 2 COLO                                   | CO WCRDEV 5.38 12/01/2048                                               | CUSIP: 95752TAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1265000 | PA      | $1249870.60   | 0.06%             | 2048-12-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| VILLAGES AT MURPHY CREEK MET DIST NO 1 COLO                    | CO MCMFAC 5.5 12/01/2051                                                | CUSIP: 927136AA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12358000 | PA      | $11320175.16  | 0.58%             | 2051-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VERMILION CREEK MET DIST NO 3 COLO                             | CO VRCFAC 8 12/15/2055                                                  | CUSIP: 923722AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2185000 | PA      | $2183689.00   | 0.11%             | 2055-12-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| VINCENT VLG MET DIST COLO                                      | CO VVLFAC 5 12/01/2051                                                  | CUSIP: 927300AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1950000 | PA      | $1673353.50   | 0.09%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WATER VY MET DIST NO 3 COLO                                    | CO WVYDEV 5.25 12/01/2054                                               | CUSIP: 94114TAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $589746.00    | 0.03%             | 2054-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TRAILSIDE MET DIST NO 6 COLO                                   | CO TRMDEV 7.75 12/01/2054                                               | CUSIP: 89287PAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2181000 | PA      | $2206866.66   | 0.11%             | 2054-12-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| TRAILSIDE MET DIST NO 4 COLO                                   | CO TRMDEV 7 12/15/2051                                                  | CUSIP: 89287MAP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3249000 | PA      | $3251274.30   | 0.17%             | 2051-12-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| VALAGUA MET DIST COLO                                          | CO VLGFAC 7.75 12/01/2037                                               | CUSIP: 91886PAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11500000 | PA      | $2300000.00   | 0.12%             | 2037-12-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| VERMILION CREEK MET DIST NO 3 COLO                             | CO VRCFAC 5.88 12/01/2055                                               | CUSIP: 923722AA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10227200.00  | 0.52%             | 2055-12-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| THOMPSON CROSSING MET DIST NO 4 COLO                           | CO THMDEV 5 12/01/2049                                                  | CUSIP: 88477EAC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1315000 | PA      | $1261453.20   | 0.06%             | 2049-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| THOMPSON CROSSING MET DIST NO 4 COLO                           | CO THMDEV 5 12/01/2039                                                  | CUSIP: 88477EAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1410000 | PA      | $1417966.50   | 0.07%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| THIRD CREEK MET DIST NO 1 COLO                                 | CO TCMFAC 4.75 12/01/2051                                               | CUSIP: 88423EAC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7390000 | PA      | $5805731.80   | 0.30%             | 2051-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| THIRD CREEK MET DIST NO 1 COLO                                 | CO TCMFAC 0 12/01/2051                                                  | CUSIP: 88423EAD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2285000 | PA      | $1748504.85   | 0.09%             | 2051-12-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| STONE RIDGE MET DIST NO 2 COLO                                 | CO SRDFAC 7.25 12/01/2031                                               | CUSIP: 861723AD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11896000 | PA      | $356880.00    | 0.02%             | 2031-12-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| STERLING RANCH MET DIST NO 2 COLO                              | CO STLFAC 5.75 12/01/2051                                               | CUSIP: 85950PAD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11750000 | PA      | $11921785.00  | 0.61%             | 2051-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TACOMA WASH CONS LOC IMPT DISTS                                | WA TACGEN 5.75 04/01/2043                                               | CUSIP: 873472EH3<br>LEI: 549300R2ZDWKQB6DIV86 | Long             | DBT              | MUN               | US        |   1695000 | PA      | $1692152.40   | 0.09%             | 2043-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| RANGE INFRASTRUCTURE FING DIST UTAH                            | UT RANDEV 5.5 12/01/2053                                                | CUSIP: 88338YAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6515000 | PA      | $6453433.25   | 0.33%             | 2053-12-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| STERLING RANCH CMNTY AUTH BRD COLO                             | CO STRDEV 5.75 12/01/2054                                               | CUSIP: 85950NAY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2305000 | PA      | $2317032.10   | 0.12%             | 2054-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| STERLING RANCH CMNTY AUTH BRD COLO                             | CO STRDEV 6.5 12/01/2054                                                | CUSIP: 85950NAW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1036080.00   | 0.05%             | 2054-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| STERLING RANCH MET DIST NO 2 COLO                              | CO STLFAC 5.25 12/01/2032                                               | CUSIP: 85950PAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1340000 | PA      | $1373433.00   | 0.07%             | 2032-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| STERLING RANCH MET DIST NO 2 COLO                              | CO STLFAC 5.5 12/01/2042                                                | CUSIP: 85950PAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5645000 | PA      | $5789229.75   | 0.30%             | 2042-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SPRING VY MET DIST NO 4 COLO                                   | CO SPVDEV 5 12/01/2040                                                  | CUSIP: 85009UAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1408000 | PA      | $1364957.44   | 0.07%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SPRING VY MET DIST NO 4 COLO                                   | CO SPVDEV 5.12 12/01/2050                                               | CUSIP: 85009UAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1775000 | PA      | $1623805.50   | 0.08%             | 2050-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| SPRING VY MET DIST NO 4 COLO                                   | CO SPVDEV 7.62 12/15/2050                                               | CUSIP: 85009UAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2811000 | PA      | $2813867.22   | 0.14%             | 2050-12-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| SOUTHLANDS MET DIST NO 1 COLO                                  | CO SLAGEN 5 12/01/2037                                                  | CUSIP: 84454RAW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $502660.00    | 0.03%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHLANDS MET DIST NO 1 COLO                                  | CO SLAGEN 5 12/01/2047                                                  | CUSIP: 84454RAX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2910780.00   | 0.15%             | 2047-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHSHORE MET DIST NO 2 COLO                                  | CO SHRFAC 4.12 12/15/2041                                               | CUSIP: 84467PAJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9690000 | PA      | $9755892.00   | 0.50%             | 2041-12-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| SPRING HILL MET DIST NO 3 COLO                                 | CO SPHDEV 6.75 12/01/2052                                               | CUSIP: 84966NAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1220000 | PA      | $1235286.60   | 0.06%             | 2052-12-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SKY DANCE MET DIST NO 2 COLO                                   | CO SKYDEV 6 12/01/2054                                                  | CUSIP: 83086VAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2541275.00   | 0.13%             | 2054-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SOJOURN AT IDLEWILD MET DIST COLO                              | CO SJNFAC 6.12 12/01/2055                                               | CUSIP: 83408GAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2569925.00   | 0.13%             | 2055-12-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| SILVER PEAKS EAST MET DIST COLO                                | CO SPCFAC 5 12/01/2051                                                  | CUSIP: 82808FAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5410000 | PA      | $4684410.80   | 0.24%             | 2051-12-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| 64TH AVE ARI AUTH COLO                                         | CO AVEGEN 6.5 12/01/2043                                                | CUSIP: 83011AAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5046700.00   | 0.26%             | 2043-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| RRC MET DIST NO 2 COLO                                         | CO RRCFAC 5.25 12/01/2051                                               | CUSIP: 78110PAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5625000 | PA      | $5005800.00   | 0.26%             | 2051-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SABELL MET DIST COLO                                           | CO SBLDEV 5 12/01/2050                                                  | CUSIP: 78517NAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1044000 | PA      | $1020175.92   | 0.05%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SABELL MET DIST COLO                                           | CO SBLDEV 8.25 12/15/2050                                               | CUSIP: 78517NAB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    605000 | PA      | $605949.85    | 0.03%             | 2050-12-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| SCOTT GULCH MET DIST COLO                                      | CO SGLDEV 6.5 12/01/2053                                                | CUSIP: 809746AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3160000 | PA      | $3189925.20   | 0.16%             | 2053-12-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| ROCK CREEK MET DIST COLO                                       | CO RCCDEV 4 12/01/2031                                                  | CUSIP: 772043AA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3432000 | PA      | $3202536.48   | 0.16%             | 2031-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ROSE FARM ACRES MET DIST COLO                                  | CO RFADEV 5 12/01/2050                                                  | CUSIP: 777041AA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2905000 | PA      | $2685585.35   | 0.14%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROSE FARM ACRES MET DIST COLO                                  | CO RFADEV 8.75 12/15/2050                                               | CUSIP: 777041AB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    910000 | PA      | $910200.20    | 0.05%             | 2050-12-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| ROSEBUD SIOUX TRIBE OF ROSEBUD INDIAN RESERVATION SOUTH DAKOTA | ROSTRB 7.5 12/15/50 QIB                                                 | CUSIP: 77725WAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  28460000 | PA      | $28302616.20  | 1.45%             | 2050-12-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| RIVERVIEW MET DIST COLO                                        | CO RVVFAC 5 12/01/2041                                                  | CUSIP: 769432AA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1105000 | PA      | $1069662.10   | 0.05%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RIVERVIEW MET DIST COLO                                        | CO RVVFAC 5 12/01/2051                                                  | CUSIP: 769432AB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2075000 | PA      | $1837142.75   | 0.09%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCK CREEK MET DIST COLO                                       | CO RCCDEV 4.5 12/01/2041                                                | CUSIP: 772042AA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2195000 | PA      | $1860416.15   | 0.10%             | 2041-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ROCK CREEK MET DIST COLO                                       | CO RCCDEV 4.75 12/01/2050                                               | CUSIP: 772042AB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3880000 | PA      | $3049990.40   | 0.16%             | 2050-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| RITORO MET DIST COLO                                           | CO RITFAC 6.25 12/15/2057                                               | CUSIP: 76778TAT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    632000 | PA      | $629560.48    | 0.03%             | 2057-12-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| RIVERDALE PEAKS II MET DIST COLO                               | CO RVDGEN 6.4 12/01/2025                                                | CUSIP: 768696AA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    930000 | PA      | $837000.00    | 0.04%             | 2025-12-01      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| RIVERDALE PEAKS II MET DIST COLO                               | CO RVDGEN 6.5 12/01/2035                                                | CUSIP: 768696AB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1021500.00   | 0.05%             | 2035-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| RIVERPARK MET DIST COLO                                        | CO RPKFAC 6.38 12/01/2054                                               | CUSIP: 76883BAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1415000 | PA      | $1445464.95   | 0.07%             | 2054-12-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| REATA RIDGE VLG MET DIST NO 2 COLO                             | CO RVLDEV 5 12/01/2049                                                  | CUSIP: 75615TAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1736000 | PA      | $1612066.96   | 0.08%             | 2049-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH RANGE MET DIST NO 3 COLO                                 | CO NRMFAC 5 12/01/2040                                                  | CUSIP: 66176NAA6<br>LEI: 549300ZQWNLLIG564027 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2018860.00   | 0.10%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEWLIN CROSSING MET DIST COLO                                  | CO NWCDEV 7.75 12/15/2054                                               | CUSIP: 65152HAB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    604000 | PA      | $602743.68    | 0.03%             | 2054-12-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| NWQ PUB INFRASTRUCTURE DIST UTAH                               | UT NWQFAC 6.12 03/01/2056                                               | CUSIP: 62954SAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1812762.00   | 0.09%             | 2056-03-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| NEWLIN CROSSING MET DIST COLO                                  | CO NWCDEV 5.38 12/01/2054                                               | CUSIP: 65152HAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1147987.50   | 0.06%             | 2054-12-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| MARIN MET DIST COLO                                            | CO MARFAC 7.75 12/01/2028                                               | CUSIP: 56804RAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  17485000 | PA      | $1573650.00   | 0.08%             | 2028-12-01      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| LITTLETON VLG COLO MET DIST NO 3                               | CO LTLFAC 6.25 12/15/2055                                               | CUSIP: 53800HAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2850000 | PA      | $2865732.00   | 0.15%             | 2055-12-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| LEGATO CMNTY AUTH COLO                                         | CO LEGDEV 5 12/01/2051                                                  | CUSIP: 52473TAD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2099775.00   | 0.11%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LIBERTY DRAW MET DIST NO 6 COLO                                | CO LBDFAC 7.12 12/15/2055                                               | CUSIP: 53045HAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1302000 | PA      | $1302234.36   | 0.07%             | 2055-12-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| COLORADO SCIENCE & TECHNOLOGY PK MET DIST NO 1                 | CO CSTFAC 4.12 12/15/2039                                               | CUSIP: 19658CBA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $162003.20    | 0.01%             | 2039-12-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| COLORADO HSG & FIN AUTH                                        | CO CHFHSG 7.25 10/01/2034                                               | CUSIP: 19648XAA3<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10434500.00  | 0.54%             | 2034-10-01      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| COLORADO HSG & FIN AUTH                                        | CO CHFHSG 9.75 10/01/2031                                               | CUSIP: 19648XAB1<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | MUN               | US        |   8705000 | PA      | $9066431.60   | 0.47%             | 2031-10-01      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| COLORADO HSG & FIN AUTH                                        | 700 Kalamath LLC - Series A - 2025                                      | CUSIP: 196476BW4<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | CORP              | US        |   3755000 | PA      | $3099999.96   | 0.16%             | 2030-12-01      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                              | CO COSEDU 4.5 07/01/2027                                                | CUSIP: 19645UME1<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   8220000 | PA      | $7895721.00   | 0.41%             | 2027-07-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                              | CO COSEDU 4.25 07/01/2029                                               | CUSIP: 19645UKL7<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   5645000 | PA      | $5313412.70   | 0.27%             | 2029-07-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                              | CO COSEDU 4.38 07/01/2027                                               | CUSIP: 19645UET7<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |  23310000 | PA      | $22791119.40  | 1.17%             | 2027-07-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                              | CO COSEDU 4 07/01/2031                                                  | CUSIP: 19645UKN3<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   2150000 | PA      | $2001628.50   | 0.10%             | 2031-07-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| CITYSET MET DIST NO 2 COLO                                     | CO CTYGEN 4.38 12/01/2040                                               | CUSIP: 17878CAB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8360000 | PA      | $7570398.00   | 0.39%             | 2040-12-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CANYONS MET DIST NO 5 COLO                                     | CO CNYFAC 6.5 12/15/2054                                                | CUSIP: 139071AZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4814000 | PA      | $4802975.94   | 0.25%             | 2054-12-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CASTLEVIEW MET DIST NO 2 COLO                                  | CO CTVGEN 5 12/01/2050                                                  | CUSIP: 14859RAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3435000 | PA      | $3024345.75   | 0.16%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CASTLEVIEW MET DIST NO 1 COLO                                  | CO CVWDEV 5 12/01/2050                                                  | CUSIP: 14860EAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4727000 | PA      | $3875903.65   | 0.20%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BASE VLG MET DIST NO 2 COLO                                    | CO BSEFAC 6.5 12/15/2048                                                | CUSIP: 069781AC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $2720200.00   | 0.14%             | 2048-12-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BELFORD NORTH MET DIST COLO                                    | CO BFNDEV 5.5 12/01/2050                                                | CUSIP: 077690AA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3612400.00   | 0.19%             | 2050-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ARROWHEAD SPRINGS PUB INFRASTRUCTURE DIST UTAH                 | UT ARWFAC 5.62 12/01/2054                                               | CUSIP: 04280BAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3200000 | PA      | $3223776.00   | 0.17%             | 2054-12-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| ASPEN STR MET DIST COLO                                        | CO ASNGEN 5.12 12/01/2050                                               | CUSIP: 045312AA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4300000 | PA      | $3651904.00   | 0.19%             | 2050-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| AURORA CROSSROADS MET DIST NO 2 COLO                           | CO AUCDEV 0 12/01/2055                                                  | CUSIP: 05162QAE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4920000 | PA      | $4386180.00   | 0.23%             | 2055-12-01      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| ABERDEEN MET DIST NO 1 COLO                                    | CO ABEGEN 7.5 12/01/2035                                                | CUSIP: 003102AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1600000.00   | 0.08%             | 2035-12-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ANTHOLOGY WEST MET DIST NO 5 COLO                              | CO ANTDEV 4.88 12/01/2049                                               | CUSIP: 03675HAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4515000 | PA      | $4237733.85   | 0.22%             | 2049-12-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ANTHOLOGY WEST MET DIST NO 5 COLO                              | CO ANTDEV 7.62 12/15/2049                                               | CUSIP: 03675HAB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    698000 | PA      | $698593.30    | 0.04%             | 2049-12-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| ANTHOLOGY WEST MET DIST NO 5 COLO                              | CO ANTDEV 7.62 12/15/2049                                               | CUSIP: 03675HAB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6780500 | PA      | $2146028.25   | 0.11%             | 2049-12-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-02

**Name of Applicant:** COLORADO BONDSHARES A TAX EXEMPT FUND

**Signature:** George N. Donnelly

**Name of Signer:** George N. Donnelly

**Title:** Interim President, Secretary and Treasurer (Principal Executive Officer and Principal Financial Officer)