# EDGAR Filing Document

**Accession Number:** 0001426439
**File Stem:** 0000940400-26-011501
**Filing Date:** 2026-3
**Character Count:** 122707
**Document Hash:** f1b80790d5331a8307555083361c767c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-011501.hdr.sgml**: 20260325

**ACCESSION NUMBER**: 0000940400-26-011501

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260325

**DATE AS OF CHANGE**: 20260325

**PERIOD START**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** New York Life Investments Active ETF Trust
- **CENTRAL INDEX KEY:** 0001426439

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22739
- **FILM NUMBER:** 26792917

**BUSINESS ADDRESS:**
- **STREET 1:** 51 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
- **BUSINESS PHONE:** (212) 576-5018

**MAIL ADDRESS:**
- **STREET 1:** 51 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NYLI MacKay Core Plus Bond ETF
- **DATE OF NAME CHANGE:** 20241203

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** New York Life Investments Active ETF Trust
- **DATE OF NAME CHANGE:** 20240822

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** IndexIQ Active ETF Trust
- **DATE OF NAME CHANGE:** 20080207

## Series and Classes Contracts Data

### NYLI MacKay Muni Insured ETF (Series ID: S000057660)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000184310 | NYLI MacKay Muni Insured ETF | MMIN            |

## Nport-Ex

Schedule of Investments ─ NYLI MacKay Muni Insured ETF

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds — 97.7%** |  |  |
| **Alabama — 2.6%** |  |  |
| Alabama State University, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;5.500%, due 9/1/45 | $2000000 | $2167211 |
| &nbsp;&nbsp;5.750%, due 9/1/50 | 2250000 | 2439644 |
| City of Gadsden AL, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 10/1/50 | 875000 | 912250 |
| State of Alabama Docks Department, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: AG |  |  |
| &nbsp;&nbsp;5.000%, due 10/1/27 | 2200000 | 2271619 |
| University of South Alabama, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: BAM |  |  |
| &nbsp;&nbsp;5.250%, due 4/1/54 | 2050000 | 2129865 |
|  |  | 9920589 |
| **Alaska — 0.8%** |  |  |
| Alaska Railroad Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;6.000%, due 10/1/50 | 2750000 | 2980522 |
| **California — 10.4%** |  |  |
| Buellton Union School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;&nbsp;3.550%, due 2/1/34<sup>(a)</sup> | 1305000 | 984813 |
| Burbank-Glendale-Pasadena Airport Authority Brick Campaign, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B Insured: AG |  |  |
| &nbsp;&nbsp;4.000%, due 7/1/39 | 3000000 | 3046658 |
| California Community Choice Financing Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series 2 |  |  |
| &nbsp;&nbsp;&nbsp;3.902%, (SOFR + 1.45%), due 4/1/56<sup>(b)</sup> | 2000000 | 2000257 |
| &nbsp;&nbsp;Series G |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 11/1/55<sup>(b)(c)</sup> | 3575000 | 3765472 |
| City of San Mateo CA, Special Tax |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;5.250%, due 9/1/37 | 4460000 | 5009537 |
| Fontana Unified School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;2.375%, due 8/1/44 | 2500000 | 1809498 |
| Foothill-De Anza Community College District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series 99 Insured: NATL-IBC FGIC |  |  |
| &nbsp;&nbsp;&nbsp;2.300%, due 8/1/29<sup>(a)</sup> | 1050000 | 969195 |
| Los Angeles Department of Water & Power, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/55 | 3000000 | 3103641 |
| &nbsp;&nbsp;Series E |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/48 | 1575000 | 1637584 |
| Los Angeles Department of Water & Power Water System Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series C Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/42 | 2500000 | 2768876 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **California (continued)** |  |  |
| Oak Grove School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series 2 Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;4.680%, due 6/1/46<sup>(a)</sup> | $4000000 | $1562864 |
| Oroville Union High School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series 08 Insured: AG |  |  |
| &nbsp;&nbsp;&nbsp;2.600%, due 8/1/29<sup>(a)</sup> | 1230000 | 1123636 |
| River Islands Public Financing Authority, Special Tax |  |  |
| &nbsp;&nbsp;Series 1 Insured: AG |  |  |
| &nbsp;&nbsp;5.250%, due 9/1/52 | 735000 | 772630 |
| Riverside County Transportation Commission, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;3.000%, due 6/1/49 | 2592000 | 1961530 |
| Sacramento City Unified School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series C Insured: AG |  |  |
| &nbsp;&nbsp;5.500%, due 8/1/54 | 2500000 | 2724028 |
| Southern California Public Power Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series 1 Insured: BAM |  |  |
| &nbsp;&nbsp;5.250%, due 7/1/50 | 3875000 | 4121161 |
| Twin Rivers Unified School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;&nbsp;4.420%, due 8/1/41<sup>(a)</sup> | 2000000 | 1015937 |
| Washington Unified School District/Yolo County CA, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: NATL |  |  |
| &nbsp;&nbsp;&nbsp;2.340%, due 8/1/26<sup>(a)</sup> | 1100000 | 1087220 |
|  |  | 39464537 |
| **Colorado — 2.4%** |  |  |
| Arista Metropolitan District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/48 | 2650000 | 2725201 |
| Castle Oaks Metropolitan District No 3, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;4.000%, due 12/1/45 | 3000000 | 2867207 |
| Colorado Educational & Cultural Facilities Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM-TCRS MORAL OBLIG |  |  |
| &nbsp;&nbsp;4.000%, due 9/1/46 | 2385000 | 2127485 |
| Park 70 Metropolitan District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/46 | 450000 | 437826 |
| Trails at Crowfoot Metropolitan District No 3, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: AG |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/39 | 1000000 | 1088234 |
|  |  | 9245953 |
| **Connecticut — 0.7%** |  |  |
| Connecticut State Health & Educational Facilities Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: AG |  |  |
| &nbsp;&nbsp;5.500%, due 7/1/51 | 2500000 | 2675410 |

---

Schedule of Investments ─ NYLI MacKay Muni Insured ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Delaware — 0.9%** |  |  |
| Delaware State Health Facilities Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.250%, due 10/1/51 | $3095000 | $3251695 |
| **District of Columbia — 0.2%** |  |  |
| Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;4.430%, due 10/1/37<sup>(a)</sup> | 1500000 | 900027 |
| **Florida — 5.5%** |  |  |
| County of Miami-Dade Seaport Department, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series 1 Insured: AG |  |  |
| &nbsp;&nbsp;4.000%, due 10/1/41 | 1425000 | 1416974 |
| &nbsp;&nbsp;Series 2 Insured: AG |  |  |
| &nbsp;&nbsp;3.000%, due 10/1/50 | 4090000 | 3015582 |
| County of Osceola FL Transportation Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A-2 Insured: AGM-CR |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, due 10/1/40<sup>(a)</sup> | 1250000 | 674618 |
| &nbsp;&nbsp;Series AG Insured: AGM-CR |  |  |
| &nbsp;&nbsp;&nbsp;4.400%, due 10/1/41<sup>(a)</sup> | 1015000 | 513226 |
| County of Pasco FL, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;5.000%, due 9/1/48 | 4675000 | 4759546 |
| &nbsp;&nbsp;Series A Insured: AG |  |  |
| &nbsp;&nbsp;5.250%, due 9/1/28 | 1000000 | 1065659 |
| County of Pasco FL Solid Waste Disposal & Resource Recovery System Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;5.500%, due 10/1/51 | 1970000 | 2026691 |
| &nbsp;&nbsp;5.500%, due 10/1/56 | 4135000 | 4246142 |
| Halifax Hospital Medical Center, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series AG Insured: AG-CR |  |  |
| &nbsp;&nbsp;3.750%, due 6/1/41 | 2275000 | 2137304 |
| &nbsp;&nbsp;4.000%, due 6/1/46 | 1065000 | 944681 |
|  |  | 20800423 |
| **Georgia — 0.7%** |  |  |
| Savannah Georgia Convention Center Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series C Insured: AG |  |  |
| &nbsp;&nbsp;5.500%, due 6/1/50 | 2400000 | 2558361 |
| **Idaho — 0.4%** |  |  |
| Idaho Housing & Finance Association, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: SCH BD GTY |  |  |
| &nbsp;&nbsp;5.000%, due 5/1/52 | 750000 | 730836 |
| &nbsp;&nbsp;5.250%, due 5/1/42 | 800000 | 820883 |
|  |  | 1551719 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Illinois — 14.1%** |  |  |
| Chicago Board of Education, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series 1 Insured: NATL |  |  |
| &nbsp;&nbsp;&nbsp;3.400%, due 12/1/27<sup>(a)</sup> | $1500000 | $1410107 |
| &nbsp;&nbsp;Series AG Insured: AGC-ICC FGIC |  |  |
| &nbsp;&nbsp;5.500%, due 12/1/26 | 555000 | 566696 |
| Chicago Board of Education Dedicated Capital Improvement Tax, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.250%, due 4/1/35 | 1750000 | 1954752 |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;5.750%, due 4/1/48 | 750000 | 796880 |
| Chicago Midway International Airport, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: BAM |  |  |
| &nbsp;&nbsp;5.750%, due 1/1/42 | 2000000 | 2214480 |
| Chicago O'Hare International Airport, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;5.250%, due 1/1/42 | 1470000 | 1590037 |
| Chicago Transit Authority Sales Tax Receipts Fund, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: BAM |  |  |
| &nbsp;&nbsp;4.000%, due 12/1/50 | 4700000 | 4276769 |
| City of Joliet IL, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;5.500%, due 12/15/44 | 3750000 | 4031347 |
| City of Springfield IL Electric Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;3.000%, due 3/1/37 | 2000000 | 1919818 |
| La Salle County Community Unit School District No 2 Serena, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;5.500%, due 12/1/38 | 1825000 | 2042593 |
| &nbsp;&nbsp;5.500%, due 10/1/42 | 1260000 | 1371672 |
| Madison County Community Unit School District No 7 Edwardsville, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/39 | 4060000 | 4551900 |
| Northern Illinois University, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;4.000%, due 10/1/40 | 400000 | 399985 |
| &nbsp;&nbsp;4.000%, due 10/1/41 | 400000 | 395414 |
| &nbsp;&nbsp;Series B Insured: BAM |  |  |
| &nbsp;&nbsp;4.000%, due 4/1/37 | 1425000 | 1441979 |
| Sales Tax Securitization Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;4.000%, due 1/1/48 | 1060000 | 934405 |
| &nbsp;&nbsp;Series A Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 1/1/37 | 1200000 | 1265515 |
| &nbsp;&nbsp;Series C Insured: BAM |  |  |
| &nbsp;&nbsp;5.250%, due 1/1/48 | 2500000 | 2535607 |
| Sangamon & Christian Counties Community Unit School District No 3A Rochester, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;5.500%, due 2/1/47 | 1590000 | 1677567 |

---

Schedule of Investments ─ NYLI MacKay Muni Insured ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Illinois (continued)** |  |  |
| Sangamon County School District No 186 Springfield, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;5.500%, due 6/1/50 | $5130000 | $5469353 |
| Southwestern Illinois Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;5.500%, due 12/1/40 | 2700000 | 2961933 |
| &nbsp;&nbsp;Series B Insured: BAM |  |  |
| &nbsp;&nbsp;5.500%, due 4/1/50 | 4000000 | 4290759 |
| State of Illinois, General Obligation Bonds |  |  |
| &nbsp;&nbsp;5.750%, due 5/1/45 | 1000000 | 1057109 |
| Will County School District No 114 Manhattan, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;5.500%, due 1/1/45 | 3765000 | 4063858 |
|  |  | 53220535 |
| **Indiana — 2.8%** |  |  |
| City of Carmel IN Waterworks Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series C Insured: BAM |  |  |
| &nbsp;&nbsp;5.250%, due 5/1/51 | 1500000 | 1557003 |
| Indiana Housing & Community Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series 1 Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;4.700%, due 7/1/49 | 1760000 | 1764233 |
| Indiana Municipal Power Agency, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: AG |  |  |
| &nbsp;&nbsp;5.000%, due 1/1/43 | 3810000 | 4129616 |
| Tri-Creek 2002 High School Building Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: ST INTERCEPT |  |  |
| &nbsp;&nbsp;5.500%, due 7/15/43 | 3000000 | 3302197 |
|  |  | 10753049 |
| **Iowa — 1.5%** |  |  |
| City of West Des Moines IA, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;2.000%, due 6/1/39 | 1235000 | 959156 |
| Clinton Community School District/IA Infrastructure Sales Services & Use Tax, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;4.000%, due 7/1/41 | 2100000 | 2109968 |
| Davenport Community School District Infrastructure Sales Services & Use Tax, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;4.000%, due 6/1/43 | 2210000 | 2199026 |
| West Delaware County Community School District Sales & Services Tax Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;4.125%, due 6/1/41 | 325000 | 327907 |
|  |  | 5596057 |
| **Kentucky — 1.0%** |  |  |
| Kentucky Municipal Energy Agency, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;5.000%, due 1/1/55 | 2000000 | 2031566 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Kentucky (continued)** |  |  |
| Northern Kentucky University, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: AG ST INTERCEPT |  |  |
| &nbsp;&nbsp;3.000%, due 9/1/37 | $1805000 | $1649439 |
|  |  | 3681005 |
| **Louisiana — 1.8%** |  |  |
| City of Lafayette LA Utilities Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 11/1/43 | 1500000 | 1588999 |
| City of Shreveport LA, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;5.000%, due 3/1/49 | 1500000 | 1540998 |
| New Orleans Aviation Board, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series AG Insured: AG-CR |  |  |
| &nbsp;&nbsp;5.250%, due 1/1/44 | 3500000 | 3708593 |
|  |  | 6838590 |
| **Maine — 0.4%** |  |  |
| Maine Health & Higher Educational Facilities Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series C Insured: AGM ST AID WITHHLDG |  |  |
| &nbsp;&nbsp;5.500%, due 7/1/40 | 1180000 | 1315295 |
| **Massachusetts — 1.6%** |  |  |
| City of Worcester MA, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;2.000%, due 2/15/34 | 1000000 | 915155 |
| Massachusetts Development Finance Agency, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series C Insured: AG |  |  |
| &nbsp;&nbsp;3.000%, due 10/1/45 | 1945000 | 1529095 |
| &nbsp;&nbsp;Series N Insured: AG |  |  |
| &nbsp;&nbsp;5.500%, due 7/1/55 | 3460000 | 3675948 |
|  |  | 6120198 |
| **Michigan — 3.9%** |  |  |
| City of Saginaw MI Water Supply System Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;4.000%, due 7/1/26 | 1070000 | 1077731 |
| Grand Rapids Public Schools, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;5.000%, due 5/1/28 | 2100000 | 2113783 |
| Great Lakes Water Authority Water Supply System Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/46 | 2475000 | 2483744 |
| Port Huron Area School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;4.000%, due 5/1/39 | 1500000 | 1501507 |
| Wayne County Airport Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B Insured: AG |  |  |
| &nbsp;&nbsp;5.500%, due 12/1/48 | 7000000 | 7411165 |
|  |  | 14587930 |

---

Schedule of Investments ─ NYLI MacKay Muni Insured ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Missouri — 1.0%** |  |  |
| Hickman Mills C-1 School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;C-1 Insured: BAM |  |  |
| &nbsp;&nbsp;5.750%, due 3/1/41 | $1960000 | $2144132 |
| Kansas City Municipal Assistance Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B1 Insured: AMBAC |  |  |
| &nbsp;&nbsp;&nbsp;3.030%, due 4/15/26<sup>(a)</sup> | 1720000 | 1709487 |
|  |  | 3853619 |
| **Nebraska — 0.3%** |  |  |
| Omaha Airport Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;5.250%, due 12/15/54 | 1250000 | 1293362 |
| **Nevada — 0.6%** |  |  |
| City of Reno NV, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A1 Insured: AG |  |  |
| &nbsp;&nbsp;4.000%, due 6/1/46 | 1050000 | 997668 |
| Clark County School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;2.000%, due 6/15/28 | 1425000 | 1387352 |
|  |  | 2385020 |
| **New Jersey — 1.1%** |  |  |
| Jersey City Municipal Utilities Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series E Insured: BAM MUN GOVT GTD |  |  |
| &nbsp;&nbsp;5.750%, due 10/15/51 | 1000000 | 1111866 |
| &nbsp;&nbsp;5.750%, due 10/15/55 | 1665000 | 1847802 |
| Newark Parking Authority (The), Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;5.500%, due 2/1/51 | 1000000 | 1026533 |
|  |  | 3986201 |
| **New York — 5.5%** |  |  |
| City of Long Beach NY, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series B Insured: BAM |  |  |
| &nbsp;&nbsp;5.250%, due 7/15/42 | 1800000 | 1904950 |
| New York City Industrial Development Agency, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;3.000%, due 3/1/49 | 1265000 | 933534 |
| New York Convention Center Development Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;3.730%, due 11/15/36<sup>(a)</sup> | 4400000 | 2952306 |
| &nbsp;&nbsp;&nbsp;5.070%, due 11/15/55<sup>(a)</sup> | 1825000 | 410311 |
| New York Liberty Development Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Series 1WTC Insured: BAM |  |  |
| &nbsp;&nbsp;4.000%, due 2/15/43 | 1480000 | 1452891 |
| New York Power Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: AG |  |  |
| &nbsp;&nbsp;5.250%, due 11/15/39 | 1000000 | 1156699 |
| &nbsp;&nbsp;5.250%, due 11/15/41 | 1000000 | 1139029 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **New York (continued)** |  |  |
| New York State Dormitory Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;5.250%, due 10/1/42 | $1650000 | $1786859 |
| New York Transportation Development Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;5.000%, due 6/30/49 | 3450000 | 3452467 |
| &nbsp;&nbsp;5.500%, due 6/30/44 | 2815000 | 2951424 |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.250%, due 1/1/50 | 1925000 | 1925070 |
| Westchester County Local Development Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;5.750%, due 11/1/49 | 850000 | 916743 |
|  |  | 20982283 |
| **North Carolina — 2.1%** |  |  |
| Greater Asheville Regional Airport Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;5.250%, due 7/1/41 | 1405000 | 1523866 |
| &nbsp;&nbsp;5.250%, due 7/1/53 | 1675000 | 1712584 |
| &nbsp;&nbsp;Series A Insured: AG |  |  |
| &nbsp;&nbsp;5.250%, due 7/1/41 | 3250000 | 3492311 |
| North Carolina Turnpike Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B Insured: AG |  |  |
| &nbsp;&nbsp;&nbsp;4.940%, due 1/1/53<sup>(a)</sup> | 4000000 | 1074672 |
|  |  | 7803433 |
| **Ohio — 3.3%** |  |  |
| City of Toledo OH, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;5.500%, due 12/1/42 | 3000000 | 3288617 |
| County of Cuyahoga OH, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 2/15/28 | 500000 | 508069 |
| County of Fayette OH, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;5.250%, due 12/1/45 | 2000000 | 2147327 |
| Green Local School District/Summit County, Certificates of Participation |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;5.500%, due 11/1/47 | 3000000 | 3129530 |
| Port of Greater Cincinnati Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: AG |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/55 | 2500000 | 2566855 |
| State of Ohio, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;5.000%, due 12/31/26 | 1000000 | 1002042 |
|  |  | 12642440 |
| **Oregon — 1.3%** |  |  |
| City of Newport OR, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series B Insured: AG |  |  |
| &nbsp;&nbsp;&nbsp;2.690%, due 6/1/26<sup>(a)</sup> | 1355000 | 1342985 |
| Medford Hospital Facilities Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: AG |  |  |
| &nbsp;&nbsp;2.500%, due 8/15/35 | 2500000 | 2223982 |

---

Schedule of Investments ─ NYLI MacKay Muni Insured ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Oregon (continued)** |  |  |
| Umatilla County School District No 6R Umatilla, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series B Insured: SCH BD GTY |  |  |
| &nbsp;&nbsp;&nbsp;4.720%, due 6/15/43<sup>(a)</sup> | $2800000 | $1246085 |
|  |  | 4813052 |
| **Pennsylvania — 5.2%** |  |  |
| Allegheny County Airport Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: AG |  |  |
| &nbsp;&nbsp;5.250%, due 1/1/39 | 2650000 | 2908102 |
| Allentown City School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series B Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 6/1/36 | 750000 | 753732 |
| City of Philadelphia PA Airport Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;4.000%, due 7/1/39 | 1335000 | 1338699 |
| City of Philadelphia PA Water & Wastewater Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series C Insured: AG |  |  |
| &nbsp;&nbsp;5.000%, due 9/1/44 | 1250000 | 1345048 |
| County of Lehigh PA, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series AG Insured: AGM-CR |  |  |
| &nbsp;&nbsp;4.000%, due 7/1/49 | 1500000 | 1315209 |
| Montgomery County Higher Education and Health Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AGC-CR |  |  |
| &nbsp;&nbsp;4.000%, due 9/1/44 | 1040000 | 976018 |
| Pennsylvania Economic Development Financing Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;5.500%, due 6/30/42 | 3625000 | 3909640 |
| Pennsylvania Higher Educational Facilities Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: AG |  |  |
| &nbsp;&nbsp;&nbsp;3.228%, (3 Month SOFR + 0.60%), due 7/1/27<sup>(b)</sup> | 55000 | 54703 |
| Pittsburgh Water & Sewer Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: AG |  |  |
| &nbsp;&nbsp;5.000%, due 9/1/37 | 1350000 | 1516811 |
| &nbsp;&nbsp;5.000%, due 9/1/38 | 1420000 | 1582557 |
| Tulpehocken Area School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;5.250%, due 10/1/49 | 3755000 | 3881593 |
|  |  | 19582112 |
| **Puerto Rico — 0.1%** |  |  |
| Puerto Rico Electric Power Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series UU Insured: AG |  |  |
| &nbsp;&nbsp;&nbsp;3.148%, (3 Month SOFR + 0.52%), due 7/1/29<sup>(b)</sup> | 370000 | 360086 |
| **Rhode Island — 0.6%** |  |  |
| Providence Public Building Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: AG |  |  |
| &nbsp;&nbsp;5.250%, due 9/15/41 | 2000000 | 2220714 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **South Carolina — 1.5%** |  |  |
| Inman Campobello Water District, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 6/1/48 | $2845000 | $2948776 |
| South Carolina Public Service Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series E Insured: AG |  |  |
| &nbsp;&nbsp;5.250%, due 12/1/37 | 2000000 | 2250291 |
| &nbsp;&nbsp;5.750%, due 12/1/52 | 600000 | 642671 |
|  |  | 5841738 |
| **South Dakota — 1.5%** |  |  |
| Baltic School District No 49-1, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series 1 Insured: AG |  |  |
| &nbsp;&nbsp;5.500%, due 12/1/51 | 3080000 | 3237241 |
| City of Brandon SD Water Utility Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;4.250%, due 8/1/42 | 1470000 | 1489401 |
| &nbsp;&nbsp;5.500%, due 8/1/47 | 1000000 | 1073160 |
|  |  | 5799802 |
| **Texas — 13.3%** |  |  |
| Arlington Higher Education Finance Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: PSF-GTD |  |  |
| &nbsp;&nbsp;5.000%, due 8/15/42 | 3190000 | 3426182 |
| Cinco Southwest Municipal Utility District No 1, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;3.000%, due 12/1/36 | 650000 | 620165 |
| City of Aubrey TX, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: AG |  |  |
| &nbsp;&nbsp;3.000%, due 2/15/42 | 2160000 | 1910864 |
| City of Aubrey TX, Special Assessment |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 9/1/40 | 1000000 | 1089979 |
| Comal County Water Control & Improvement District No 6, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;4.000%, due 9/1/46 | 1880000 | 1732598 |
| &nbsp;&nbsp;4.000%, due 9/1/47 | 1980000 | 1799884 |
| Denton Independent School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: PSF-GTD |  |  |
| &nbsp;&nbsp;2.000%, due 8/15/39 | 3000000 | 2364380 |
| &nbsp;&nbsp;2.000%, due 8/15/40 | 3000000 | 2277577 |
| Fort Bend County Municipal Utility District No 134B, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series B Insured: BAM |  |  |
| &nbsp;&nbsp;3.000%, due 9/1/40 | 540000 | 462439 |
| &nbsp;&nbsp;3.000%, due 9/1/42 | 540000 | 441900 |
| Fort Bend County Municipal Utility District No 182, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;2.500%, due 9/1/36 | 625000 | 537321 |
| Georgetown Independent School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: PSF-GTD |  |  |
| &nbsp;&nbsp;2.500%, due 8/15/35 | 2220000 | 2069067 |
| &nbsp;&nbsp;3.000%, due 8/15/41 | 2670000 | 2395209 |

---

Schedule of Investments ─ NYLI MacKay Muni Insured ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Texas (continued)** |  |  |
| Guadalupe-Blanco River Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;6.000%, due 8/15/42 | $1975000 | $2217451 |
| Harris County Municipal Utility District No 171, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;4.125%, due 12/1/52 | 1500000 | 1353636 |
| Harris County Municipal Utility District No 390, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;2.125%, due 4/1/37 | 565000 | 466194 |
| Harris County Municipal Utility District No 423, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 4/1/44 | 1800000 | 1815236 |
| Harris County Municipal Utility District No 457, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;4.125%, due 3/1/47 | 1670000 | 1558456 |
| Harris County Municipal Utility District No 489, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;2.500%, due 9/1/40 | 575000 | 453630 |
| Harris County Municipal Utility District No 490, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;5.000%, due 9/1/46 | 855000 | 867752 |
| Kaufman County Municipal Utility District No 3, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;5.125%, due 3/1/46 | 1415000 | 1433300 |
| Lazy Nine Municipal Utility District No 1B, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;4.125%, due 3/1/39 | 605000 | 612076 |
| &nbsp;&nbsp;Series 1B Insured: AG |  |  |
| &nbsp;&nbsp;3.000%, due 9/1/39 | 980000 | 903635 |
| Leander Municipal Utility District No 1, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;6.375%, due 8/15/30 | 1455000 | 1590847 |
| Love Field Airport Modernization Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;4.000%, due 11/1/35 | 3195000 | 3270270 |
| Montgomery County Municipal Utility District No 99, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;6.750%, due 9/1/29 | 1260000 | 1370581 |
| Morningstar Ranch Municipal Utility District No 1 of Parker County, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;3.000%, due 9/1/43 | 545000 | 438115 |
| Mount Houston Road Municipal Utility District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;3.000%, due 3/1/40 | 540000 | 466480 |
| &nbsp;&nbsp;3.000%, due 3/1/41 | 560000 | 469314 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Texas (continued)** |  |  |
| Sienna Municipal Utility District No 5, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;2.375%, due 11/1/43 | $650000 | $458786 |
| Sonterra Municipal Utility District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;2.625%, due 8/15/40 | 1055000 | 869292 |
| Texas Municipal Power Agency, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;3.000%, due 9/1/35 | 1345000 | 1300496 |
| Texas State Technical College, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;5.250%, due 8/1/36 | 1015000 | 1150695 |
| &nbsp;&nbsp;5.500%, due 8/1/42 | 4000000 | 4388142 |
| Viridian Municipal Management District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;3.000%, due 12/1/39 | 895000 | 781461 |
| Williamson County Municipal Utility District No 25, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;4.500%, due 8/15/44 | 1190000 | 1181574 |
|  |  | 50544984 |
| **Utah — 0.8%** |  |  |
| City of Salt Lake City UT Airport Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series AG Insured: AGM-CR |  |  |
| &nbsp;&nbsp;4.000%, due 7/1/51 | 2385000 | 2112867 |
| Heber Light & Power Co., Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 12/15/47 | 1000000 | 1029578 |
|  |  | 3142445 |
| **Virginia — 0.5%** |  |  |
| City of Suffolk VA, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: ST AID WITHHLDG |  |  |
| &nbsp;&nbsp;1.875%, due 2/1/38 | 1330000 | 1046964 |
| Isle Wight County Industrial Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;4.750%, due 7/1/53 | 825000 | 818468 |
|  |  | 1865432 |
| **Washington — 3.0%** |  |  |
| State of Washington, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series F Insured: NATL |  |  |
| &nbsp;&nbsp;&nbsp;2.380%, due 12/1/26<sup>(a)</sup> | 3000000 | 2941547 |
| Washington Health Care Facilities Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series C Insured: AG |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 8/15/55<sup>(b)(c)</sup> | 3000000 | 3338626 |
| Washington State Housing Finance Commission, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/45 | 3500000 | 3519325 |
| &nbsp;&nbsp;5.250%, due 7/1/55 | 1640000 | 1641370 |
|  |  | 11440868 |

---

Schedule of Investments ─ NYLI MacKay Muni Insured ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **West Virginia — 0.9%** |  |  |
| County of Ohio WV Special District Excise Tax Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: AG |  |  |
| &nbsp;&nbsp;5.500%, due 6/1/54 | $2250000 | $2374147 |
| West Virginia Economic Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series RE |  |  |
| &nbsp;&nbsp;&nbsp;4.700%, due 4/1/36<sup>(b)(c)</sup> | 890000 | 893321 |
|  |  | 3267468 |
| **Wisconsin — 2.6%** |  |  |
| City of Shawano WI Electric System Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;4.500%, due 5/1/48 | 750000 | 739058 |
| &nbsp;&nbsp;4.550%, due 5/1/43 | 1015000 | 1032711 |
| &nbsp;&nbsp;5.000%, due 5/1/31 | 1655000 | 1807354 |
| Monroe School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;4.000%, due 3/1/43 | 2000000 | 1979862 |
| Viroqua Area School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;4.000%, due 3/1/41 | 1455000 | 1470730 |
| Wisconsin Center District, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;3.810%, due 12/15/37<sup>(a)</sup> | 1150000 | 734907 |
| &nbsp;&nbsp;Series C Insured: AG |  |  |
| &nbsp;&nbsp;&nbsp;4.710%, due 12/15/45<sup>(a)</sup> | 5265000 | 2087262 |
|  |  | 9851884 |
| **Wyoming — 0.8%** |  |  |
| Snake River Sporting Club Improvement & Service District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: BAM |  |  |
| &nbsp;&nbsp;5.500%, due 7/15/48 | 1100000 | 1158864 |
| Sweetwater County 2023 Specific Purpose Tax Joint Powers Board, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series AG Insured: AGM-CR |  |  |
| &nbsp;&nbsp;5.000%, due 6/15/28 | 1790000 | 1891633 |
|  |  | 3050497 |
| **Total Municipal Bonds** |  |  |
| &nbsp;&nbsp;**(Cost $361,835,439)** |  | 370189335 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Short-Term Investment — 5.2%** |  |  |
| **Money Market Fund — 5.2%** |  |  |
| Dreyfus Government Cash Management Fund, Institutional Shares, 3.58%<sup>(d)</sup> |  |  |
| **(Cost $19,558,180)** | 19558180 | 19558180 |
| **Total Investments — 102.9%<br> (Cost $381,393,619)** |  | 389747515 |
| **Other Assets and Liabilities,<br> Net — (2.9)%** |  | (11011971) |
| **Net Assets — 100.0%** |  | $378735544 |

---

------

(a) The security was issued on a discount
 basis with no stated coupon rate. Rate shown reflects the effective yield.

(b) Variable rate securities that may be tendered back to
 the issuer at any time prior to maturity at par. Rate shown is the rate in effect as of January 31, 2026.

(c) Adjustable rate security with an interest rate that is
 not based on a published reference index and spread. The rate is based on the structure of the agreement and current market conditions.

(d) Reflects the 1-day yield at January 31, 2026.

---

| | |
|:---|:---|
| **Abbreviations** | **Abbreviations** |
| AG | - Assured Guaranty Ltd. |
| AMBAC | - Ambac Assurance Corp. |
| BAM | - Build America Mutual Assurance Co. |
| CR | - Custodial Receipts |
| FGIC | - Financial Guaranty Insurance Co. |
| GTD | - Guaranteed |
| IBC | - Insured Bond Certificate |
| ICC | - Insured Custody Certificate |
| MUN GOVT GTD | - Municipal Government Guaranteed |
| NATL | - National Public Finance Guarantee Corp. |
| PSF-GTD | - Permanent School Fund Guaranteed |
| SCH BD GTY | - School Bond Guaranty Program |
| SOFR | - Secured Overnight Financing Rate |
| ST AID WITHHLDG | - State Aid Withholding |
| ST INTERCEPT | - State Tax Intercept |
| TCRS | - Transferable Custodial Receipts |

---

Schedule of Investments ─ NYLI MacKay Muni Insured ETF (continued)

------

January 31, 2026 (unaudited)

The following is a summary of the inputs used to value the Fund's investments as of January 31, 2026. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to the Fund's most recent semi-annual or annual financial statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities:<sup>(e)</sup> |  |  |  |  |
| &nbsp;&nbsp;Municipal Bonds | $— | $370189335 | $— | $370189335 |
| Short-Term Investment: |  |  |  |  |
| &nbsp;&nbsp;Money Market Fund | 19558180 |  |  | 19558180 |
| Total Investments in Securities | $19558180 | $370189335 | $— | $389747515 |

---

(e) For a complete
 listing of investments and their states, see the Schedule of Investments.

For the period ended January 31, 2026, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** New York Life Investments Active ETF Trust

- **b. Investment Company Act file number:** 811-22739

- **c. CIK number of Registrant:** 0001426439

- **d. LEI of Registrant:** 549300VWZDQ61K9DOP39

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

  - **Street Address 1:** 51 Madison Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10010

  - **Telephone number:** 888-474-7725

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

- **a. Name of Series:** NYLI MacKay Muni Insured ETF

- **b. EDGAR series identifier (if any):** S000057660

- **c. LEI of Series:** 549300DKQ8WAMSGPUT72

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

- **a. Date of fiscal year-end:** 2026-04-30

- **b. Date as of which information is reported:** 2026-01-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $393385326.22

**Total Liabilities:** $14605916.42

**Net Assets:** $378779409.80

**Delayed Delivery Securities:** $13103557.80

**Cash Not Reported:** $453438.95

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 289.52300000 | **1-Year:** 3833.98307000 | **5-Year:** 57006.20067000 | **10-Year:** 243739.63314000 | **30-Year:** 10782.96155000

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000184310 | 0.39%                | 0.07%                | 0.81%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $17798.38                | $269355.79                                 |
| Month 2  | $-149343.63              | $-862129.89                                |
| Month 3  | $-68136.80               | $1767929.74                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| NORTHERN IL UNIV REVENUES          | Northern Illinois University                                                 | CUSIP: 665245ZL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $395414.12    | 0.10%             | 2041-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TRI-CREEK IN 2002 HIGH SCH BLD     | Tri-Creek 2002 High School Building Corp                                     | CUSIP: 89556GJF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3302197.50   | 0.87%             | 2043-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| KANSAS CITY MO MUNI ASSISTANCE     | Kansas City Municipal Assistance Corp                                        | CUSIP: 485052RL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1720000 | PA      | $1709487.02   | 0.45%             | 2026-04-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HGR EDUCTNL FA     | Pennsylvania Higher Educational Facilities Authority                         | CUSIP: 70917RKC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     55000 | PA      | $54703.52     | 0.01%             | 2027-07-01      | Variable      | 3.23%                 | No            |                  2 | On Loan: No      |
| LA SALLE CNTY IL CMNTY UNIT SC     | La Salle County Community Unit School District No 2 Serena                   | CUSIP: 504396HD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1825000 | PA      | $2042592.56   | 0.54%             | 2038-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RIVERSIDE CNTY CA TRANSPRTN CO     | Riverside County Transportation Commission                                   | CUSIP: 76912DCG1<br>LEI: 5493003G0IESJS57M350 | Long             | DBT              | MUN               | US        |   2592000 | PA      | $1961529.44   | 0.52%             | 2049-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST PWR AUTH GREEN TRA     | New York Power Authority                                                     | CUSIP: 65000XBQ2<br>LEI: I5P1GEYFGGMMDOFX2L30 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1139028.80   | 0.30%             | 2041-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AUBREY TX SPL ASSMNT               | City of Aubrey TX                                                            | CUSIP: 050197BE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1089979.40   | 0.29%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PASCO CNTY FL SOL WST DISP & R     | County of Pasco FL Solid Waste Disposal & Resource Recovery System Revenue   | CUSIP: 702538GM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1970000 | PA      | $2026691.08   | 0.54%             | 2051-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WORCESTER MA                       | City of Worcester MA                                                         | CUSIP: 981306ZA4<br>LEI: 5493006DO0NOILRNNH68 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $915154.90    | 0.24%             | 2034-02-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| WEST DES MOINES IA                 | City of West Des Moines IA                                                   | CUSIP: 952531JE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1235000 | PA      | $959155.71    | 0.25%             | 2039-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| UMATILLA CNTY OR SCH DIST #6 R     | Umatilla County School District No 6R Umatilla                               | CUSIP: 904115FH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2800000 | PA      | $1246084.56   | 0.33%             | 2043-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA ARPT REVENUE       | City of Philadelphia PA Airport Revenue                                      | CUSIP: 717817XV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1338699.29   | 0.35%             | 2039-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RENO NV CAPITAL IMPT REVENUE       | City of Reno NV                                                              | CUSIP: 759831CZ1<br>LEI: 549300M4R5WWSUWY8D52 | Long             | DBT              | MUN               | US        |   1050000 | PA      | $997667.79    | 0.26%             | 2046-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR     | Puerto Rico Electric Power Authority                                         | CUSIP: 74526QLY6<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    370000 | PA      | $360086.18    | 0.10%             | 2029-07-01      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                        | State of Illinois                                                            | CUSIP: 4521526M8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1057108.60   | 0.28%             | 2045-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| COLORADO EDUCTNL & CULTURAL AU     | Colorado Educational & Cultural Facilities Authority                         | CUSIP: 19645UPZ1<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   2385000 | PA      | $2127484.87   | 0.56%             | 2046-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEANDER TX MUNI UTILITY DIST #     | Leander Municipal Utility District No 1                                      | CUSIP: 52184HCD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1455000 | PA      | $1590847.38   | 0.42%             | 2030-08-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CINCO S W TX MUNI UTILITY DIST     | Cinco Southwest Municipal Utility District No 1                              | CUSIP: 17240FWY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $620164.74    | 0.16%             | 2036-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF WTR & P     | Los Angeles Department of Water & Power                                      | CUSIP: 544532BM5<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1125701.82   | 0.30%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX MUNI UTILITY DI     | Harris County Municipal Utility District No 457                              | CUSIP: 41423KJF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1670000 | PA      | $1558455.86   | 0.41%             | 2047-03-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA     | Chicago O'Hare International Airport                                         | CUSIP: 1675934E9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1470000 | PA      | $1590037.26   | 0.42%             | 2042-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL SEAPORT REV     | County of Miami-Dade Seaport Department                                      | CUSIP: 59335KDJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4090000 | PA      | $3015581.95   | 0.80%             | 2050-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MET WASHINGTON DC ARPTS AUTH D     | Metropolitan Washington Airports Authority Dulles Toll Road Revenue          | CUSIP: 592643DQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $900026.85    | 0.24%             | 2037-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST TECH CLG SYS FING SYS     | Texas State Technical College                                                | CUSIP: 88276RFG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1015000 | PA      | $1150694.64   | 0.30%             | 2036-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NORTHERN IL UNIV REVENUES          | Northern Illinois University                                                 | CUSIP: 665245YP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1425000 | PA      | $1441979.16   | 0.38%             | 2037-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PORT HURON MI AREA SCH DIST        | Port Huron Area School District                                              | CUSIP: 734353MP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1501507.35   | 0.40%             | 2039-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OHIO CNTY WV CNTY COMMISSION S     | County of Ohio WV Special District Excise Tax Revenue                        | CUSIP: 67732PFA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2374147.58   | 0.63%             | 2054-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST PWR AUTH GREEN TRA     | New York Power Authority                                                     | CUSIP: 65000XBN9<br>LEI: I5P1GEYFGGMMDOFX2L30 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1156698.90   | 0.31%             | 2039-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SWEETWATER CNTY WY 2023 SPECIF     | Sweetwater County 2023 Specific Purpose Tax Joint Powers Board               | CUSIP: 87048HAF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1790000 | PA      | $1891633.34   | 0.50%             | 2028-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| W DELAWARE CNTY IA CMNTY SCH D     | West Delaware County Community School District Sales & Services Tax Revenue  | CUSIP: 952480AU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $327906.74    | 0.09%             | 2041-06-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| BRANDON SD WTR SURCHARGE REVEN     | City of Brandon SD Water Utility Revenue                                     | CUSIP: 10530AAR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1073159.70   | 0.28%             | 2047-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LOVE FIELD TX ARPT MODERNIZATI     | Love Field Airport Modernization Corp                                        | CUSIP: 54714CCB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3195000 | PA      | $3270270.05   | 0.86%             | 2035-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX MUNI UTILITY DI     | Harris County Municipal Utility District No 390                              | CUSIP: 41420LTF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    565000 | PA      | $466193.87    | 0.12%             | 2037-04-01      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA HGR EDU & H     | Montgomery County Higher Education and Health Authority                      | CUSIP: 613603K32<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1040000 | PA      | $976017.85    | 0.26%             | 2044-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA WTR & WSTWTR R     | City of Philadelphia PA Water & Wastewater Revenue                           | CUSIP: 7178933V1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1345048.63   | 0.36%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PROVIDENCE RI PUBLIC BLDGS AUT     | Providence Public Building Authority                                         | CUSIP: 74381MDJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2220714.00   | 0.59%             | 2041-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PASCO CNTY FL CAPITAL IMPT CIG     | County of Pasco FL                                                           | CUSIP: 70252AAD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1065659.20   | 0.28%             | 2028-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TEXAS ST TECH CLG SYS FING SYS     | Texas State Technical College                                                | CUSIP: 88276RFJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4388141.60   | 1.16%             | 2042-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| COMAL CNTY TX WTR CONTROL & IM     | Comal County Water Control & Improvement District No 6                       | CUSIP: 199819HC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1880000 | PA      | $1732598.41   | 0.46%             | 2046-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX MUNI UTILITY DI     | Harris County Municipal Utility District No 423                              | CUSIP: 41429KEC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1815236.46   | 0.48%             | 2044-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GTR ASHEVILLE REGL ARPT AUTH N     | Greater Asheville Regional Airport Authority                                 | CUSIP: 39160CAQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3492311.23   | 0.92%             | 2041-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MADISON CNTY IL CMNTY UNIT SCH     | Madison County Community Unit School District No 7 Edwardsville              | CUSIP: 557021LE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4060000 | PA      | $4551900.26   | 1.20%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MORNINGSTAR RANCH MUNI UTIL DI     | Morningstar Ranch Municipal Utility District No 1 of Parker County           | CUSIP: 61771KDY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    545000 | PA      | $438114.87    | 0.12%             | 2043-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| KAUFMAN CNTY TX MUNI UTILITY D     | Kaufman County Municipal Utility District No 3                               | CUSIP: 48620ABX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1415000 | PA      | $1433299.91   | 0.38%             | 2046-03-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA ARPT AUTH AR     | Allegheny County Airport Authority                                           | CUSIP: 01728LGY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2650000 | PA      | $2908101.79   | 0.77%             | 2039-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PITTSBURGH PA WTR & SWR AUTH       | Pittsburgh Water & Sewer Authority                                           | CUSIP: 725304WU9<br>LEI: 54930034DVH6W22T1E86 | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1516810.86   | 0.40%             | 2037-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUBLIC SVC A     | South Carolina Public Service Authority                                      | CUSIP: 837151U49<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    600000 | PA      | $642671.22    | 0.17%             | 2052-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| FOOTHILL-DE ANZA CA CMNTY CLG      | Foothill-De Anza Community College District                                  | CUSIP: 345102JA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $969195.15    | 0.26%             | 2029-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DAVENPORT IA CMNTY SCH DISTS S     | Davenport Community School District Infrastructure Sales Services & Use Tax  | CUSIP: 23841QBN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3195000 | PA      | $3179135.87   | 0.84%             | 2043-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JERSEY CITY NJ MUNI UTILITIESA     | Jersey City Municipal Utilities Authority                                    | CUSIP: 476623DY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1665000 | PA      | $1847801.35   | 0.49%             | 2055-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUBLIC SVC A     | South Carolina Public Service Authority                                      | CUSIP: 837151T25<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2250290.60   | 0.59%             | 2037-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UNIV OF SOUTH ALABAMA AL UNIV      | University of South Alabama                                                  | CUSIP: 914845UZ3<br>LEI: 549300U394SOV3NGG049 | Long             | DBT              | MUN               | US        |   2050000 | PA      | $2129865.13   | 0.56%             | 2054-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SONTERRA TX MUNI UTILITY DIST      | Sonterra Municipal Utility District                                          | CUSIP: 83569BNX8<br>LEI: 549300CYX166OF9KQU91 | Long             | DBT              | MUN               | US        |   1055000 | PA      | $869292.36    | 0.23%             | 2040-08-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| COMAL CNTY TX WTR CONTROL & IM     | Comal County Water Control & Improvement District No 6                       | CUSIP: 199819HD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1980000 | PA      | $1799883.56   | 0.48%             | 2047-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TX HGR EDU FIN CORP      | Arlington Higher Education Finance Corp                                      | CUSIP: 041807FD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3190000 | PA      | $3426182.18   | 0.90%             | 2042-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHERN IL UNIV REVENUES          | Northern Illinois University                                                 | CUSIP: 665245ZK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $399985.24    | 0.11%             | 2040-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FONTANA CA UNIF SCH DIST           | Fontana Unified School District                                              | CUSIP: 344640WD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $1809497.75   | 0.48%             | 2044-08-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| PASCO CNTY FL SOL WST DISP & R     | County of Pasco FL Solid Waste Disposal & Resource Recovery System Revenue   | CUSIP: 702538GN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4135000 | PA      | $4246141.77   | 1.12%             | 2056-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JERSEY CITY NJ MUNI UTILITIESA     | Jersey City Municipal Utilities Authority                                    | CUSIP: 476623DX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1111866.10   | 0.29%             | 2051-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY INDL DEV AGY      | New York City Industrial Development Agency                                  | CUSIP: 64971PKK0<br>LEI: 549300XR20ZR5DHL9534 | Long             | DBT              | MUN               | US        |   1265000 | PA      | $933534.45    | 0.25%             | 2049-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP     | New York Transportation Development Corp                                     | CUSIP: 650116GX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3450000 | PA      | $3452466.75   | 0.91%             | 2049-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GADSDEN AL                         | City of Gadsden AL                                                           | CUSIP: 362460WM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $912250.24    | 0.24%             | 2050-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PITTSBURGH PA WTR & SWR AUTH       | Pittsburgh Water & Sewer Authority                                           | CUSIP: 725304WV7<br>LEI: 54930034DVH6W22T1E86 | Long             | DBT              | MUN               | US        |   1420000 | PA      | $1582556.77   | 0.42%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PASCO CNTY FL CAPITAL IMPT CIG     | County of Pasco FL                                                           | CUSIP: 70252AAW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4675000 | PA      | $4759546.44   | 1.26%             | 2048-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT OF GTR CINCINNATI DEV AUT     | Port of Greater Cincinnati Development Authority                             | CUSIP: 734191BF5<br>LEI: 549300IK2RCZBY62ST97 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2566855.00   | 0.68%             | 2055-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI     | Washington State Housing Finance Commission                                  | CUSIP: 93978LJL1<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3519324.55   | 0.93%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JACKSON CNTY MO SCH DIST HICKM     | Hickman Mills C-1 School District/MO                                         | CUSIP: 46741RDD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1960000 | PA      | $2144131.61   | 0.57%             | 2041-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GTR ASHEVILLE REGL ARPT AUTH N     | Greater Asheville Regional Airport Authority                                 | CUSIP: 39160CBN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1675000 | PA      | $1712583.65   | 0.45%             | 2053-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| OROVILLE CA UNION HIGH SCH DIS     | Oroville Union High School District                                          | CUSIP: 687255DK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1230000 | PA      | $1123636.37   | 0.30%             | 2029-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SNAKE RIVER SPORTING CLUB IMPT     | Snake River Sporting Club Improvement & Service District                     | CUSIP: 833021AZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1158863.97   | 0.31%             | 2048-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL MIDWAY ARPT REVENUE     | Chicago Midway International Airport                                         | CUSIP: 167562SE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2214479.80   | 0.58%             | 2042-01-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| DENTON TX INDEP SCH DIST           | Denton Independent School District                                           | CUSIP: 249002HG4<br>LEI: 5493005I9W678SUI0Z07 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2364379.80   | 0.62%             | 2039-08-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| MOUNT HOUSTON ROAD TX MUNI UTI     | Mount Houston Road Municipal Utility District                                | CUSIP: 621645KP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    540000 | PA      | $466479.54    | 0.12%             | 2040-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| VIROQUA WI AREA SCH DIST           | Viroqua Area School District                                                 | CUSIP: 92824CFE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1455000 | PA      | $1470729.86   | 0.39%             | 2041-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALASKA ST RAILROAD CORP CRUISE     | Alaska Railroad Corp                                                         | CUSIP: 01176AAU7<br>LEI: 549300SM5ZU2HV31E004 | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2980522.33   | 0.79%             | 2050-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU DEDICATE     | Chicago Board of Education Dedicated Capital Improvement Tax                 | CUSIP: 167510BM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $796879.80    | 0.21%             | 2048-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX MUNI UTILITY DI     | Harris County Municipal Utility District No 489                              | CUSIP: 41423LCZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $453629.63    | 0.12%             | 2040-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HLTH & EDUCTNL      | Connecticut State Health & Educational Facilities Authority                  | CUSIP: 20775DN81<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2675409.75   | 0.71%             | 2051-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SANGAMON CNTY IL SCH DIST #186     | Sangamon County School District No 186 Springfield                           | CUSIP: 800766PY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5130000 | PA      | $5469353.09   | 1.44%             | 2050-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY TX MUNI UTILIT     | Montgomery County Municipal Utility District No 99                           | CUSIP: 61370WKN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1370580.62   | 0.36%             | 2029-09-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| OAK GROVE CA SCH DIST              | Oak Grove School District                                                    | CUSIP: 6712054E9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $1562864.00   | 0.41%             | 2046-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HALIFAX FL HOSP MED CTR            | Halifax Hospital Medical Center                                              | CUSIP: 405815LN9<br>LEI: 549300H6HDJUXLEMUW23 | Long             | DBT              | MUN               | US        |   1065000 | PA      | $944681.09    | 0.25%             | 2046-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT ARPT REVENUE     | City of Salt Lake City UT Airport Revenue                                    | CUSIP: 795576LC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2385000 | PA      | $2112866.73   | 0.56%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TWIN RIVERS CA UNIF SCH DIST       | Twin Rivers Unified School District                                          | CUSIP: 90171TDG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1015936.80   | 0.27%             | 2041-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DENTON TX INDEP SCH DIST           | Denton Independent School District                                           | CUSIP: 249002HH2<br>LEI: 5493005I9W678SUI0Z07 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2277577.50   | 0.60%             | 2040-08-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| BRANDON SD WTR SURCHARGE REVEN     | City of Brandon SD Water Utility Revenue                                     | CUSIP: 10530AAQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1470000 | PA      | $1489401.06   | 0.39%             | 2042-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MOUNT HOUSTON ROAD TX MUNI UTI     | Mount Houston Road Municipal Utility District                                | CUSIP: 621645KQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    560000 | PA      | $469314.33    | 0.12%             | 2041-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MAINE HLTH & HGR EDUCTNL FACS      | Maine Health & Higher Educational Facilities Authority                       | CUSIP: 56042R8J4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1180000 | PA      | $1315295.38   | 0.35%             | 2040-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LAZY NINE TX MUNI UTILITY DIST     | Lazy Nine Municipal Utility District No 1B                                   | CUSIP: 52109HKK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    980000 | PA      | $903635.46    | 0.24%             | 2039-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A     | California Community Choice Financing Authority                              | CUSIP: 13013JFS0<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   3575000 | PA      | $3765472.43   | 0.99%             | 2055-11-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| GRAND RAPIDS MI PUBLIC SCHS        | Grand Rapids Public Schools                                                  | CUSIP: 386280PZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2113783.35   | 0.56%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO     | Idaho Housing & Finance Association                                          | CUSIP: 45129GKL8<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    800000 | PA      | $820883.44    | 0.22%             | 2042-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CUYAHOGA CNTY OH HOSP REVENUE      | County of Cuyahoga OH                                                        | CUSIP: 2322655J3<br>LEI: 549300GHDK9DGLUNJU89 | Long             | DBT              | MUN               | US        |    500000 | PA      | $508069.40    | 0.13%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| S WSTRN IL DEV AUTH REV            | Southwestern Illinois Development Authority                                  | CUSIP: 84552YRM5<br>LEI: 549300B1KLLJ8NU5XK71 | Long             | DBT              | MUN               | US        |   2700000 | PA      | $2961932.94   | 0.78%             | 2040-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HALIFAX FL HOSP MED CTR            | Halifax Hospital Medical Center                                              | CUSIP: 405815LQ2<br>LEI: 549300H6HDJUXLEMUW23 | Long             | DBT              | MUN               | US        |   2275000 | PA      | $2137304.26   | 0.56%             | 2041-06-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CASTLE OAKS CO MET DIST #3         | Castle Oaks Metropolitan District No 3                                       | CUSIP: 14846XAP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2867206.80   | 0.76%             | 2045-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON CA UNIF SCH DIST YO     | Washington Unified School District/Yolo County CA                            | CUSIP: 937411FB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1087220.09   | 0.29%             | 2026-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU DEDICATE     | Chicago Board of Education Dedicated Capital Improvement Tax                 | CUSIP: 167510AY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1954752.10   | 0.52%             | 2035-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LAZY NINE TX MUNI UTILITY DIST     | Lazy Nine Municipal Utility District No 1B                                   | CUSIP: 52109HQB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    605000 | PA      | $612075.60    | 0.16%             | 2039-03-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| SHAWANO WI ELEC SYS REVENUE        | City of Shawano WI Electric System Revenue                                   | CUSIP: 820418AG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $739057.95    | 0.20%             | 2048-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES MI WTR AUTH WTR SP     | Great Lakes Water Authority Water Supply System Revenue                      | CUSIP: 39081JBG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2475000 | PA      | $2483743.68   | 0.66%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MI ARPT AUTH REVENU     | Wayne County Airport Authority                                               | CUSIP: 944514L22<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7411164.60   | 1.96%             | 2048-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| OMAHA NE ARPT AUTH                 | Omaha Airport Authority                                                      | CUSIP: 681725NL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1293362.25   | 0.34%             | 2054-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BURBANK GLENDALE PASADENA CA A     | Burbank-Glendale-Pasadena Airport Authority Brick Campaign                   | CUSIP: 120827DX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3046658.10   | 0.80%             | 2039-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST MUNI ENERGY AGY PW     | Kentucky Municipal Energy Agency                                             | CUSIP: 491499AU3<br>LEI: 254900W8G3M70YHUAO94 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2031565.40   | 0.54%             | 2055-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES     | New York State Dormitory Authority                                           | CUSIP: 65000B7U6<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1786858.92   | 0.47%             | 2042-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WILLIAMSON CNTY TX MUNI UTILIT     | Williamson County Municipal Utility District No 25                           | CUSIP: 97001TCP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1190000 | PA      | $1181574.44   | 0.31%             | 2044-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF WTR & P     | Los Angeles Department of Water & Power                                      | CUSIP: 544532JS4<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   1575000 | PA      | $1637584.36   | 0.43%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WILL CNTY IL SCH DIST #114 MAN     | Will County School District No 114 Manhattan                                 | CUSIP: 968838KA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3765000 | PA      | $4063858.17   | 1.07%             | 2045-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RIVER ISLANDS CA PUBLIC FING A     | River Islands Public Financing Authority                                     | CUSIP: 76827QGR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    735000 | PA      | $772629.72    | 0.20%             | 2052-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HEBER UT LIGHT & PWR COMPANY E     | Heber Light & Power Co                                                       | CUSIP: 42249TEB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1029578.50   | 0.27%             | 2047-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BALTIC SD SCH DIST #49-1           | Baltic School District No 49-1                                               | CUSIP: 058827EZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3080000 | PA      | $3237241.39   | 0.85%             | 2051-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LA SALLE CNTY IL CMNTY UNIT SC     | La Salle County Community Unit School District No 2 Serena                   | CUSIP: 504396HF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1371672.16   | 0.36%             | 2042-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NV SCH DIST             | Clark County School District                                                 | CUSIP: 181059U20<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1425000 | PA      | $1387352.36   | 0.37%             | 2028-06-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI     | Pennsylvania Turnpike Commission                                             | CUSIP: 709224Q28<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1595000 | PA      | $1663945.47   | 0.44%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN MATEO CALIF SPL TAX            | City of San Mateo CA                                                         | CUSIP: 79901PCX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4460000 | PA      | $5009537.12   | 1.32%             | 2037-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| INDIANA ST HSG & CMNTY DEV AUT     | Indiana Housing & Community Development Authority                            | CUSIP: 45505T2X8<br>LEI: 549300QRKDYVNHT1OE86 | Long             | DBT              | MUN               | US        |   1760000 | PA      | $1764233.50   | 0.47%             | 2049-07-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| MONROE WI SCH DIST                 | Monroe School District/WI                                                    | CUSIP: 611424LQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1979862.40   | 0.52%             | 2043-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CARMEL IN WTRWKS REVENUE           | City of Carmel IN Waterworks Revenue                                         | CUSIP: 143321LQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1557002.55   | 0.41%             | 2051-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST CONVENTION CENTER      | New York Convention Center Development Corp                                  | CUSIP: 649451JD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1825000 | PA      | $410311.28    | 0.11%             | 2055-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI     | Washington State Housing Finance Commission                                  | CUSIP: 93978LJN7<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1640000 | PA      | $1641369.73   | 0.43%             | 2055-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ST ECON DEV AUTH     | West Virginia Economic Development Authority                                 | CUSIP: 95648VBP3<br>LEI: 549300WW88TKKF5H1220 | Long             | DBT              | MUN               | US        |    890000 | PA      | $893320.59    | 0.24%             | 2036-04-01      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| ISLE OF WIGHT CNTY VA ECON DEV     | Isle Wight County Industrial Development Authority                           | CUSIP: 464637AR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $818467.90    | 0.22%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO     | Idaho Housing & Finance Association                                          | CUSIP: 45129GKP9<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $974447.30    | 0.26%             | 2052-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GEORGETOWN TX INDEP SCH DIST       | Georgetown Independent School District                                       | CUSIP: 373046YW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2220000 | PA      | $2069067.53   | 0.55%             | 2035-08-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| S WSTRN IL DEV AUTH REV            | Southwestern Illinois Development Authority                                  | CUSIP: 84552YTM3<br>LEI: 549300B1KLLJ8NU5XK71 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4290759.20   | 1.13%             | 2050-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NTHRN KY UNIV GEN RECPTS           | Northern Kentucky University                                                 | CUSIP: 665304GN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1805000 | PA      | $1649439.14   | 0.44%             | 2037-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST                      | State of Washington                                                          | CUSIP: 93974AUF9<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2941547.40   | 0.78%             | 2026-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX MUNI UTILITY DI     | Harris County Municipal Utility District No 171                              | CUSIP: 41423TPQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1353635.70   | 0.36%             | 2052-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| INMAN CAMPOBELLO WTR DIST SC       | Inman Campobello Water District                                              | CUSIP: 457561AU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2845000 | PA      | $2948775.64   | 0.78%             | 2048-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP     | New York Transportation Development Corp                                     | CUSIP: 650116GW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2815000 | PA      | $2951424.19   | 0.78%             | 2044-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZATION CORP      | Sales Tax Securitization Corp                                                | CUSIP: 79467BCL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2535607.50   | 0.67%             | 2048-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LONG BEACH NY                      | City of Long Beach NY                                                        | CUSIP: 542519ES8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1904950.26   | 0.50%             | 2042-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Dreyfus Government Cash Management | Dreyfus Government Cash Management                                           | CUSIP: 262006208<br>LEI: 5493000Q69I5Q3QZIA91 | Long             | STIV             | RF                | US        |  19558180 | NS      | $19558180.11  | 5.16%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW ORLEANS LA AVIATION BRD        | New Orleans Aviation Board                                                   | CUSIP: 64763HNV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2648995.50   | 0.70%             | 2044-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HLTH CARE FACS A     | Washington Health Care Facilities Authority                                  | CUSIP: 93978HZY4<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3338626.50   | 0.88%             | 2055-08-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| FAYETTE CNTY OH HOSP FACS IMPT     | County of Fayette OH                                                         | CUSIP: 312446AH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2147327.00   | 0.57%             | 2045-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU              | Chicago Board of Education                                                   | CUSIP: 167505EC6<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    555000 | PA      | $566695.52    | 0.15%             | 2026-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SPRINGFIELD IL ELEC REVENUE        | City of Springfield IL Electric Revenue                                      | CUSIP: 850578UJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1919817.80   | 0.51%             | 2037-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN CENTER DIST WI TAX R     | Wisconsin Center District                                                    | CUSIP: 976595EU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $734907.50    | 0.19%             | 2037-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SIENNA PLANTATION TX MUNI UTIL     | Sienna Municipal Utility District No 5                                       | CUSIP: 82621VGZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $458785.99    | 0.12%             | 2043-11-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| SACRAMENTO CITY CA UNIF SCH DI     | Sacramento City Unified School District/CA                                   | CUSIP: 785870R57<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2724027.75   | 0.72%             | 2054-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AUBREY TX                          | City of Aubrey TX                                                            | CUSIP: 050177JY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2160000 | PA      | $1910863.66   | 0.50%             | 2042-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R     | Massachusetts Development Finance Agency                                     | CUSIP: 57585BPD4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   3460000 | PA      | $3675948.29   | 0.97%             | 2055-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CLINTON IA CMNTY SCH DIST SCHI     | Clinton Community School District/IA Infrastructure Sales Services & Use Tax | CUSIP: 18735EBS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2109968.07   | 0.56%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARISTA CO MET DIST                 | Arista Metropolitan District                                                 | CUSIP: 04041AAQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2650000 | PA      | $2725201.44   | 0.72%             | 2048-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OSCEOLA CNTY FL TRANSPRTN REVE     | County of Osceola FL Transportation Revenue                                  | CUSIP: 688031FN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1015000 | PA      | $513225.62    | 0.14%             | 2041-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST MUNI PWR AGY            | Indiana Municipal Power Agency                                               | CUSIP: 454898YV3<br>LEI: AX0ZCCVOQ71Z4RXBL233 | Long             | DBT              | MUN               | US        |   3810000 | PA      | $4129615.57   | 1.09%             | 2043-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST TURNPIKE AUT     | North Carolina Turnpike Authority                                            | CUSIP: 65830RDE6<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $1074672.00   | 0.28%             | 2053-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BUELLTON CA UNION SCH DIST         | Buellton Union School District                                               | CUSIP: 119097EG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1305000 | PA      | $984812.77    | 0.26%             | 2034-02-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEWARK NJ PKG AUTH LEASE REVEN     | Newark Parking Authority/The                                                 | CUSIP: 650392AL7<br>LEI: 549300GCUIIQ6TYN0S75 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1026533.20   | 0.27%             | 2051-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TOLEDO OH                          | City of Toledo OH                                                            | CUSIP: 889278ZV2<br>LEI: 549300I365GIDPR4BM68 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3288616.80   | 0.87%             | 2042-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ALLENTOWN PA CITY SCH DIST         | Allentown City School District                                               | CUSIP: 018411TN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $753731.78    | 0.20%             | 2036-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEHIGH CNTY PA GEN PURPOSE HOS     | County of Lehigh PA                                                          | CUSIP: 52480GDZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1315209.30   | 0.35%             | 2049-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL SEAPORT REV     | County of Miami-Dade Seaport Department                                      | CUSIP: 59335KDE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1425000 | PA      | $1416974.12   | 0.37%             | 2041-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALABAMA ST PORT AUTH DOCKS FAC     | State of Alabama Docks Department                                            | CUSIP: 010604BZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2271618.80   | 0.60%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST LIBERTY DEV CORP L     | New York Liberty Development Corp                                            | CUSIP: 649519FF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1480000 | PA      | $1452890.54   | 0.38%             | 2043-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PARK 70 CO MET DIST                | Park 70 Metropolitan District                                                | CUSIP: 70014RAP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $437825.88    | 0.12%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST CONVENTION CENTER      | New York Convention Center Development Corp                                  | CUSIP: 649451HS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4400000 | PA      | $2952305.84   | 0.78%             | 2036-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST MUNI PWR AGY REVENUE      | Texas Municipal Power Agency                                                 | CUSIP: 882555ZT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1345000 | PA      | $1300495.70   | 0.34%             | 2035-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FORT BEND CNTY TX MUNI UTIL DI     | Fort Bend County Municipal Utility District No 134B                          | CUSIP: 34683LHW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    540000 | PA      | $441899.98    | 0.12%             | 2042-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL TRANSIT AUTH SALES      | Chicago Transit Authority Sales Tax Receipts Fund                            | CUSIP: 16772PCF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4700000 | PA      | $4276768.76   | 1.13%             | 2050-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALABAMA ST UNIV REVENUE            | Alabama State University                                                     | CUSIP: 010632QN0<br>LEI: 549300JCR3DWTI08FS98 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2167210.80   | 0.57%             | 2045-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SHAWANO WI ELEC SYS REVENUE        | City of Shawano WI Electric System Revenue                                   | CUSIP: 820418AC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1655000 | PA      | $1807353.67   | 0.48%             | 2031-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST PRIVATE ACTIVITY REVEN     | State of Ohio                                                                | CUSIP: 67759YAH0<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002041.60   | 0.26%             | 2026-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRIDIAN TX MUNI MGMT DIST         | Viridian Municipal Management District                                       | CUSIP: 92823PKL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    895000 | PA      | $781460.75    | 0.21%             | 2039-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SANGAMON & CHRISTIAN CNTYS IL      | Sangamon & Christian Counties Community Unit School District No 3A Rochester | CUSIP: 800722GT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1590000 | PA      | $1677567.18   | 0.44%             | 2047-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WISCONSIN CENTER DIST WI TAX R     | Wisconsin Center District                                                    | CUSIP: 976595FU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5265000 | PA      | $2087261.87   | 0.55%             | 2045-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A     | California Community Choice Financing Authority                              | CUSIP: 13013JHL3<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000257.00   | 0.53%             | 2056-04-01      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX MUNI UTILITY DI     | Harris County Municipal Utility District No 490                              | CUSIP: 41430ECZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    855000 | PA      | $867752.33    | 0.23%             | 2046-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAVANNAH GEORGIA CONVENTION CT     | Savannah Georgia Convention Center Authority                                 | CUSIP: 804828AX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2558360.88   | 0.68%             | 2050-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JOLIET IL                          | City of Joliet IL                                                            | CUSIP: 479754NR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3750000 | PA      | $4031347.13   | 1.06%             | 2044-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING      | Pennsylvania Economic Development Financing Authority                        | CUSIP: 70868YAT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3625000 | PA      | $3909639.71   | 1.03%             | 2042-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| OSCEOLA CNTY FL TRANSPRTN REVE     | County of Osceola FL Transportation Revenue                                  | CUSIP: 688031FL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $674617.75    | 0.18%             | 2040-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LAFAYETTE LA UTILITIES REVENUE     | City of Lafayette LA Utilities Revenue                                       | CUSIP: 506498C93<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1588998.75   | 0.42%             | 2043-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SHAWANO WI ELEC SYS REVENUE        | City of Shawano WI Electric System Revenue                                   | CUSIP: 820418AF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1015000 | PA      | $1032710.74   | 0.27%             | 2043-05-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZATION CORP      | Sales Tax Securitization Corp                                                | CUSIP: 79467BCX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1265514.84   | 0.33%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GTR ASHEVILLE REGL ARPT AUTH N     | Greater Asheville Regional Airport Authority                                 | CUSIP: 39160CBJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1405000 | PA      | $1523865.81   | 0.40%             | 2041-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FORT BEND CNTY TX MUNI UTILITY     | Fort Bend County Municipal Utility District No 182                           | CUSIP: 34682BDV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $537320.56    | 0.14%             | 2036-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R     | Massachusetts Development Finance Agency                                     | CUSIP: 57584YD22<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1945000 | PA      | $1529094.43   | 0.40%             | 2045-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WESTCHESTER CNTY NY LOCAL DEV      | Westchester County Local Development Corp                                    | CUSIP: 95737TFN1<br>LEI: 549300KOSU8OC75V9238 | Long             | DBT              | MUN               | US        |    850000 | PA      | $916743.45    | 0.24%             | 2049-11-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZATION CORP      | Sales Tax Securitization Corp                                                | CUSIP: 79467BEL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1060000 | PA      | $934404.73    | 0.25%             | 2048-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MEDFORD OR HOSP FACS AUTH REVE     | Medford Hospital Facilities Authority                                        | CUSIP: 584283GU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2223982.25   | 0.59%             | 2035-08-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FORT BEND CNTY TX MUNI UTIL DI     | Fort Bend County Municipal Utility District No 134B                          | CUSIP: 34683LHU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    540000 | PA      | $462439.42    | 0.12%             | 2040-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEWPORT OR                         | City of Newport OR                                                           | CUSIP: 652300LA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1355000 | PA      | $1342984.67   | 0.35%             | 2026-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU              | Chicago Board of Education                                                   | CUSIP: 167501VE2<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1410107.40   | 0.37%             | 2027-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TRAILS AT CROWFOOT MET DIST #3     | Trails at Crowfoot Metropolitan District No 3                                | CUSIP: 89286RAR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1088234.40   | 0.29%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF WTR & P     | Los Angeles Department of Water & Power Water System Revenue                 | CUSIP: 5445252P2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2768875.75   | 0.73%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREEN OH LOCAL SCH DIST SUMMIT     | Green Local School District/Summit County                                    | CUSIP: 393192AP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3129529.80   | 0.83%             | 2047-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TULPEHOCKEN PA SCH DIST            | Tulpehocken Area School District                                             | CUSIP: 899491NK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3755000 | PA      | $3881592.69   | 1.02%             | 2049-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SUFFOLK VA                         | City of Suffolk VA                                                           | CUSIP: 86481AAT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1330000 | PA      | $1046963.63   | 0.28%             | 2038-02-01      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF WTR & P     | Los Angeles Department of Water & Power                                      | CUSIP: 544532PW8<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3103641.30   | 0.82%             | 2055-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GEORGETOWN TX INDEP SCH DIST       | Georgetown Independent School District                                       | CUSIP: 373046ZC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2670000 | PA      | $2395208.94   | 0.63%             | 2041-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GUADALUPE-BLANCO TX RIVER AUTH     | Guadalupe-Blanco River Authority                                             | CUSIP: 400525AT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1975000 | PA      | $2217451.20   | 0.59%             | 2042-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ALABAMA ST UNIV REVENUE            | Alabama State University                                                     | CUSIP: 010632QP5<br>LEI: 549300JCR3DWTI08FS98 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2439643.95   | 0.64%             | 2050-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| DELAWARE ST HLTH FACS AUTH REV     | Delaware State Health Facilities Authority                                   | CUSIP: 246388VT6<br>LEI: 549300RXU7M05ZYSJG42 | Long             | DBT              | MUN               | US        |   3650000 | PA      | $3834793.66   | 1.01%             | 2051-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP     | New York Transportation Development Corp                                     | CUSIP: 650116AV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1925000 | PA      | $1925069.88   | 0.51%             | 2050-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SHREVEPORT LA                      | City of Shreveport LA                                                        | CUSIP: 8254346M0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1540998.00   | 0.41%             | 2049-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAGINAW MI WTR SPLY SYS REVENU     | City of Saginaw MI Water Supply System Revenue                               | CUSIP: 786795DA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1070000 | PA      | $1077730.86   | 0.28%             | 2026-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-25

**Name of Applicant:** New York Life Investments Active ETF Trust

**Signature:** Adefolahan Oyefeso

**Name of Signer:** Adefolahan Oyefeso

**Title:** Director and Vice President, IndexIQ