# EDGAR Filing Document

**Accession Number:** 0001496608
**File Stem:** 0001410368-25-018023
**Filing Date:** 2025-10
**Character Count:** 290604
**Document Hash:** edb949f89087b88d8f695ed140d01a1d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-018023.hdr.sgml**: 20251027

**ACCESSION NUMBER**: 0001410368-25-018023

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251027

**DATE AS OF CHANGE**: 20251027

**PERIOD START**: 20251130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AB Active ETFs, Inc.
- **CENTRAL INDEX KEY:** 0001496608

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0531

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23799
- **FILM NUMBER:** 251419634

**BUSINESS ADDRESS:**
- **STREET 1:** C/O ALLIANCEBERNSTEIN L.P.
- **STREET 2:** 66 HUDSON BOULEVARD EAST, 26TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10001
- **BUSINESS PHONE:** 212-969-1000

**MAIL ADDRESS:**
- **STREET 1:** C/O ALLIANCEBERNSTEIN L.P.
- **STREET 2:** 66 HUDSON BOULEVARD EAST, 26TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10001

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AllianceBernstein Active ETFs, Inc.
- **DATE OF NAME CHANGE:** 20100714

## Series and Classes Contracts Data

### AB Tax-Aware Intermediate Municipal ETF (Series ID: S000082569)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000245885 | AB Tax-Aware Intermediate Municipal ETF | TAFM            |

## Nport-Ex

**AB Active ETFs, Inc.** 

**AB Tax-Aware Intermediate Municipal ETF** 

**Portfolio of Investments** 

**August 31, 2025 (unaudited)** 

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** |
|  **MUNICIPAL OBLIGATIONS – 99.2%** | **MUNICIPAL OBLIGATIONS – 99.2%** | **MUNICIPAL OBLIGATIONS – 99.2%** |
|  **Long-Term Municipal Bonds – 91.0%** | **Long-Term Municipal Bonds – 91.0%** | **Long-Term Municipal Bonds – 91.0%** |
|  **Alabama – 3.8%** | **Alabama – 3.8%** | **Alabama – 3.8%** |
|  Black Belt Energy Gas District<br> (BP PLC)<br>Series 2024-D<br>5.00%, 03/01/2055 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2250 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2371621 |
|  Black Belt Energy Gas District<br> (Canadian Imperial Bank of Commerce)<br>Series 2022-E<br>5.00%, 05/01/2053 | 1000 | 1043357 |
|  Black Belt Energy Gas District<br> (Goldman Sachs Group)<br>Series 2024-B<br>5.00%, 10/01/2055 | 2750 | 2928490 |
|  Black Belt Energy Gas District<br> (Nomura Holdings, Inc.)<br>Series 2022-A<br>4.00%, 12/01/2052 | 1100 | 1099188 |
|  County of Jefferson AL Sewer Revenue<br> (County of Jefferson AL Sewer Revenue)<br>Series 2024<br>5.25%, 10/01/2040 | 250 | 262142 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 10/01/2044 | 100 | 101648 |
|  Energy Southeast A Cooperative District<br> (Morgan Stanley)<br>Series 2024-B<br>5.25%, 07/01/2054 | 1460 | 1567423 |
|  Lauderdale County Agriculture Center Authority<br> (Lauderdale County Agriculture Center Authority Spl Tax)<br>Series 2024<br>5.00%, 07/01/2041 | 1000 | 1020840 |
|  Southeast Alabama Gas Supply District (The)<br> (Morgan Stanley)<br>Series 2024<br>5.00%, 06/01/2049 | 200 | 212864 |
|  Southeast Energy Authority A Cooperative District<br> (Athene Annuity & Life Co.)<br>Series 2025-A<br>5.00%, 01/01/2056 | 500 | 513557 |
|  Southeast Energy Authority A Cooperative District<br> (Deutsche Bank AG)<br>Series 2024-A<br>5.00%, 11/01/2035 | 400 | 413655 |
|  Southeast Energy Authority A Cooperative District<br> (Pacific Life Insurance)<br>Series 2024-C<br>5.00%, 10/01/2055 | 750 | 799647 |
|  |  | 12334432 |
|  **Arizona – 2.3%** | **Arizona – 2.3%** | **Arizona – 2.3%** |
|  Arizona Industrial Development Authority<br> (Equitable School Revolving Fund Obligated Group)<br>Series 2023<br>5.25%, 11/01/2053 | 1000 | 977935 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024<br>5.00%, 11/01/2044 | 150 | 145732 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 11/01/2049 | 1000 | 952119 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **Principal<br>Amount<br>(000)** | **U.S. $ Value** | **U.S. $ Value** |
|  Arizona Industrial Development Authority<br> (ISF Ativo Portfolio Obligated Group)<br>Series 2025<br>6.875%, 03/01/2055<sup>(a)</sup> | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;968755 |
|  Chandler Industrial Development Authority<br> (Intel Corp.)<br>Series 2022<br>5.00%, 09/01/2042 |  | 300 |  | 305747 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/01/2052 |  | 1000 |  | 1019298 |
|  Industrial Development Authority of the City of Phoenix Arizona (The)<br> (Downtown Phoenix Student Housing)<br>Series 2018-A<br>5.00%, 07/01/2037 |  | 1000 |  | 1003411 |
|  La Paz County Industrial Development Authority<br> (Harmony Public Schools)<br>Series 2016<br>5.00%, 02/15/2036<sup>(a)</sup> |  | 400 |  | 400213 |
|  Maricopa County Industrial Development Authority<br> (HonorHealth Obligated Group)<br>Series 2019-A<br>4.125%, 09/01/2042 |  | 250 |  | 225407 |
|  Salt Verde Financial Corp.<br> (Citigroup, Inc.)<br>Series 2007<br>5.00%, 12/01/2037 |  | 1500 |  | 1567679 |
|  |  |  |  | 7566296 |
|  **California – 8.1%** | **California – 8.1%** | **California – 8.1%** | **California – 8.1%** | **California – 8.1%** |
|  California Community Choice Financing Authority<br> (American General Life Insurance)<br>Series 2023-D<br>5.50%, 05/01/2054 |  | 250 |  | 264916 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024<br>5.00%, 08/01/2055 |  | 3200 |  | 3399591 |
|  California Community Choice Financing Authority<br> (Athene Annuity & Life Co.)<br>Series 2024<br>5.00%, 11/01/2055 |  | 750 |  | 781999 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-A<br>5.00%, 01/01/2056 |  | 1000 |  | 1033233 |
|  California Community Choice Financing Authority<br> (Deutsche Bank AG)<br>Series 2023<br>5.25%, 01/01/2054 |  | 200 |  | 210281 |
|  California Community Choice Financing Authority<br> (New York Life Insurance)<br>Series 2024<br>5.00%, 01/01/2056 |  | 500 |  | 543513 |
|  California Community Choice Financing Authority<br> (Pacific Life Insurance)<br>Series 2024-F<br>5.00%, 02/01/2055 |  | 750 |  | 806670 |
|  California Community Housing Agency<br> (California Community Housing Agency Brio Apartments & Next on Lex Apartments)<br>Series 2021<br>4.00%, 02/01/2056<sup>(a)</sup> |  | 100 |  | 76871 |

---

------

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** |
|  California Health Facilities Financing Authority<br> (Adventist Health System/West Obligated Group)<br>Series 2024<br>5.25%, 12/01/2044 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985800 |
|  California Infrastructure & Economic Development Bank<br> (Desertxpress Enterprises)<br>Series 2025<br>9.50%, 01/01/2065<sup>(a)</sup> | 1100 | 1010892 |
|  California Municipal Finance Authority<br> (CHF-Riverside II LLC)<br>Series 2019<br>5.00%, 05/15/2033 | 500 | 524638 |
|  California Public Finance Authority<br> (ISF Ativo Portfolio Obligated Group)<br>Series 2025<br>6.75%, 03/01/2055<sup>(a)</sup> | 1000 | 977499 |
|  City of Los Angeles CA Wastewater System Revenue<br> (City of Los Angeles CA Wastewater System Revenue)<br>Series 2025-A<br>5.00%, 06/01/2055 | 1000 | 1018143 |
|  City of Los Angeles Department of Airports<br> (City of Los Angeles Dept. of Airports)<br>Series 2022<br>5.50%, 05/15/2038 | 2000 | 2131942 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025<br>5.25%, 05/15/2045 | 500 | 512980 |
|  CMFA Special Finance Agency VII<br> (CMFA Special Finance Agency VII The Breakwater Apartments)<br>Series 2021<br>3.00%, 08/01/2056<sup>(a)</sup> | 100 | 64881 |
|  Golden State Tobacco Securitization Corp.<br> (Golden State Tobacco Securitization)<br>Series 2021-B<br>Zero Coupon, 06/01/2066 | 455 | 42224 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022<br>5.00%, 06/01/2051 | 460 | 438688 |
|  Los Angeles Department of Water & Power<br> (Los Angeles Dept. of Water & Power Power System Revenue)<br>Series 2024-C<br>5.00%, 07/01/2041 | 500 | 517743 |
|  Los Angeles Department of Water & Power Power System Revenue<br> (Los Angeles Dept. of Water & Power Power System Revenue)<br>Series 2016-B<br>5.00%, 07/01/2036 | 3100 | 3107737 |
|  M-S-R Energy Authority<br> (Citigroup, Inc.)<br>Series 2009-C<br>7.00%, 11/01/2034 | 1000 | 1194688 |

---

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---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **Principal<br>Amount<br>(000)** | **U.S. $ Value** | **U.S. $ Value** |
|  San Francisco Bay Area Rapid Transit District<br> (San Francisco Bay Area Rapid Transit District)<br>Series 2017<br>4.00%, 08/01/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$| 300 | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300331 |
|  San Francisco Intl Airport<br> (San Francisco Intl Airport)<br>Series 2019-A<br>5.00%, 05/01/2044 |  | 1000 |  | 999761 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024<br>5.00%, 05/01/2034 |  | 500 |  | 545331 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/01/2042 |  | 1250 |  | 1290309 |
|  San Francisco Intl Airport<br> (SFO Fuel Co. LLC)<br>Series 2019<br>5.00%, 01/01/2047 |  | 1000 |  | 983454 |
|  Southern California Public Power Authority<br> (Los Angeles Dept. of Water & Power Power System Revenue)<br>Series 2023<br>5.00%, 07/01/2034 |  | 1000 |  | 1109456 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/01/2040 |  | 1000 |  | 1042803 |
|  State of California<br> (State of California)<br>Series 2024<br>5.00%, 08/01/2044 |  | 200 |  | 210186 |
|  |  |  |  | 26126560 |
|  **Colorado – 2.5%** | **Colorado – 2.5%** | **Colorado – 2.5%** | **Colorado – 2.5%** | **Colorado – 2.5%** |
|  City & County of Denver CO Airport System Revenue<br> (City & County of Denver CO Airport System Revenue)<br>Series 2022-A<br>5.00%, 11/15/2047 |  | 1000 |  | 986997 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-D<br>5.75%, 11/15/2045 |  | 1315 |  | 1377210 |
|  City & County of Denver CO Airport System Revenue<br> (Denver Intl Airport)<br>Series 2018-A<br>5.00%, 12/01/2031 |  | 305 |  | 319129 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/01/2034 |  | 400 |  | 433640 |
|  Colorado Educational & Cultural Facilities Authority<br> (Ascent Classical Academy Charter Schools) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024<br>5.50%, 04/01/2044<sup>(a)</sup> |  | 100 |  | 95435 |
|  Colorado Health Facilities Authority<br> (Christian Living Neighborhoods Obligated Group)<br>Series 2021<br>4.00%, 01/01/2042 |  | 250 |  | 207887 |
|  Regional Transportation District<br> (Regional Transportation District COP)<br>Series 2025<br>5.00%, 06/01/2038 |  | 1500 |  | 1635451 |
|  Town of Vail CO<br> (Town of Vail CO COP)<br>Series 2025<br>5.50%, 12/01/2064 |  | 3000 |  | 3102127 |
|  |  |  |  | 8157876 |

---

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| | | |
|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** |
|  **Connecticut – 0.4%** | **Connecticut – 0.4%** | **Connecticut – 0.4%** |
|  Stamford Housing Authority<br> (TJH Senior Living Obligated Group)<br>Series 2025<br>6.375%, 10/01/2045 | $300 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299482 |
|  State of Connecticut Special Tax Revenue<br> (State of Connecticut Special Tax Revenue)<br>Series 2018-B<br>5.00%, 10/01/2025 | 1000 | 1001985 |
|  |  | 1301467 |
|  **District of Columbia – 2.1%** | **District of Columbia – 2.1%** | **District of Columbia – 2.1%** |
|  District of Columbia<br> (District of Columbia Union Market TIF Area)<br>Series 2024-A<br>5.125%, 06/01/2034<sup>(a)</sup> | 1000 | 1005060 |
|  District of Columbia<br> (KIPP DC Obligated Group)<br>Series 2017-B<br>5.00%, 07/01/2037 | 200 | 202478 |
|  District of Columbia Income Tax Revenue<br> (District of Columbia Income Tax Revenue)<br>Series 2025-A<br>5.00%, 06/01/2044 | 1000 | 1031430 |
|  Metropolitan Washington Airports Authority Aviation Revenue<br> (Metropolitan Washington Airports Authority Aviation Revenue)<br>Series 2020-A<br>5.00%, 10/01/2033 | 250 | 264387 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-A<br>5.00%, 10/01/2031 | 345 | 377994 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-A<br>5.00%, 10/01/2035 | 1000 | 1058231 |
|  Metropolitan Washington Airports Authority Dulles Toll Road Revenue<br> (Metropolitan Washington Airports Authority Dulles Toll Road Revenue)<br>Series 2010-B<br>6.50%, 10/01/2044<sup>(b)</sup> | 1000 | 1047763 |
|  Metropolitan Washington Airports Authority Dulles Toll Road Revenue<br> (Prerefunded - US Treasuries)<br>AG Series 2009<br>6.50%, 10/01/2041<sup>(b)</sup> | 1275 | 1328249 |
|  Washington Metropolitan Area Transit Authority<br> (Washington Metropolitan Area Transit Authority State Lease)<br>Series 2020-A<br>5.00%, 07/15/2045 | 400 | 403130 |
|  |  | 6718722 |

---

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| | | |
|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** |
|  **Florida – 6.0%** | **Florida – 6.0%** | **Florida – 6.0%** |
|  Brevard County Health Facilities Authority<br> (Health First Obligated Group)<br>Series 2022<br>5.00%, 04/01/2042 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1350 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1359869 |
|  Capital Projects Finance Authority/FL<br> (Navigator Academy of Leadership Obligated Group)<br>Series 2024<br>5.00%, 06/15/2034<sup>(a)</sup> | 150 | 151533 |
|  Capital Projects Finance Authority/FL<br> (PRG - UnionWest Properties)<br>Series 2024<br>5.00%, 06/01/2058<sup>(a)</sup>  | 1000 | 895258 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/01/2044<sup>(a)</sup> | 500 | 486226 |
|  Capital Trust Authority<br> (Mason Classical Academy)<br>Series 2024<br>5.00%, 06/01/2054<sup>(a)</sup> | 1150 | 959465 |
|  Central Florida Tourism Oversight District<br> (Central Florida Tourism Oversight District)<br>Series 2024-A<br>5.00%, 06/01/2044 | 1000 | 1031052 |
|  City of Tampa FL<br> (H Lee Moffitt Cancer Center & Research Institute Obligated Group)<br>Series 2020<br>4.00%, 07/01/2038 | 375 | 350677 |
|  City of Venice FL<br> (Southwest Florida Retirement Center Obligated Group)<br>Series 2024<br>5.625%, 01/01/2060<sup>(a)</sup> | 100 | 92853 |
|  County of Lee FL Airport Revenue<br> (County of Lee FL Airport Revenue)<br>Series 2024<br>5.25%, 10/01/2044 | 1000 | 1021582 |
|  County of Miami-Dade FL<br> (County of Miami-Dade FL)<br>Series 2024<br>5.00%, 04/01/2046 | 1000 | 1018301 |
|  County of Miami-Dade FL Aviation Revenue<br> (County of Miami-Dade FL Aviation Revenue)<br>Series 2024-A<br>5.00%, 10/01/2034 | 1005 | 1094352 |
|  County of Miami-Dade Seaport Department<br> (County of Miami-Dade Seaport Dept.)<br>Series 2023-A<br>5.00%, 10/01/2035 | 1035 | 1098323 |
|  County of Palm Beach FL Airport System Revenue<br> (County of Palm Beach FL Airport System Revenue)<br>Series 2024-B<br>5.25%, 10/01/2042 | 300 | 308942 |
|  Florida Development Finance Corp.<br> (Brightline Trains Florida)<br>AG Series 2024<br>5.00%, 07/01/2044 | 350 | 335092 |

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| | | |
|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** |
|  Florida Development Finance Corp.<br> (GFL Solid Waste Southeast)<br>Series 2024<br>4.375%, 10/01/2054<sup>(a)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248547 |
|  Florida Development Finance Corp.<br> (SFP - Tampa I LLC)<br>Series 2024<br>5.00%, 06/01/2044<sup>(a)</sup> | 1000 | 932517 |
|  Florida Higher Educational Facilities Financing Authority<br> (Florida Institute of Technology)<br>Series 2019<br>5.00%, 10/01/2036 | 155 | 157611 |
|  Florida Local Government Finance Commission<br> (Ponte Vedra Pine Obligated Group)<br>Series 2025<br>4.20%, 11/15/2030<sup>(a) (c)</sup> | 1000 | 1004323 |
|  Greater Orlando Aviation Authority<br> (Greater Orlando Aviation Authority)<br>Series 2024<br>5.00%, 10/01/2034 | 500 | 548474 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 10/01/2040 | 1095 | 1157440 |
|  Hillsborough County Aviation Authority<br> (Hillsborough County Aviation Authority)<br>Series 2024<br>5.25%, 10/01/2044 | 300 | 307578 |
|  Mid-Bay Bridge Authority<br> (Prerefunded - US Treasuries)<br>Series 2015-A<br>5.00%, 10/01/2035 | 1000 | 1001764 |
|  Orange County Health Facilities Authority<br> (Orlando Health Obligated Group)<br>Series 2025<br>5.00%, 10/01/2044 | 500 | 507370 |
|  Palm Beach County Educational Facilities Authority<br> (Palm Beach Atlantic University Obligated Group)<br>Series 2024<br>5.25%, 10/01/2048 | 255 | 244138 |
|  Palm Beach County Health Facilities Authority<br> (Jupiter Medical Center Obligated Group)<br>Series 2022<br>5.00%, 11/01/2036 | 700 | 724297 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025<br> 5.00%, 11/01/2043 | 1000 | 978323 |
|  School Board of Miami-Dade County (The)<br> (Miami-Dade County School Board Foundation COP)<br>Series 2025-A<br>5.00%, 05/01/2026 | 1000 | 1015514 |
|  Village Community Development District No. 15<br> (Village Community Development District No. 15 Series 2024 Special Assessment)<br>Series 2024<br>4.20%, 05/01/2039<sup>(a)</sup> | 250 | 233453 |
|  |  | 19264874 |

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| | | |
|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** |
|  **Georgia – 4.2%** | **Georgia – 4.2%** | **Georgia – 4.2%** |
|  City of Atlanta GA Department of Aviation<br> (City of Atlanta GA Dept. of Aviation)<br>Series 2022-A<br>5.00%, 07/01/2047 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1310 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1323656 |
|  Fayette County Development Authority<br> (United States Soccer Federation)<br>Series 2024<br>5.00%, 10/01/2043 | 1140 | 1145870 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 10/01/2054 | 1050 | 1050711 |
|  Main Street Natural Gas, Inc.<br> (Citigroup, Inc.)<br>Series 2022-B<br>5.00%, 12/01/2052 | 1555 | 1628757 |
|  Main Street Natural Gas, Inc.<br> (Macquarie Group Ltd.)<br>Series 2019-A<br>5.00%, 05/15/2043 | 1000 | 997835 |
|  Main Street Natural Gas, Inc.<br> (Royal Bank of Canada)<br>Series 2024-B<br>5.00%, 12/01/2054 | 2000 | 2146408 |
|  Main Street Natural Gas, Inc.<br> (Toronto-Dominion Bank)<br>Series 2024-D<br>5.00%, 04/01/2054 | 1000 | 1065496 |
|  Municipal Electric Authority of Georgia<br> (Municipal Electric Authority of Georgia)<br>Series 2019<br>5.00%, 01/01/2063 | 700 | 681441 |
|  Private Colleges & Universities Authority<br> (Emory University)<br>Series 2023<br>5.00%, 09/01/2033<sup>(a)</sup> | 2000 | 2239394 |
|  Savannah Economic Development Authority<br> (SSU Community Development I)<br>Series 2021<br>4.00%, 06/15/2038 | 1000 | 969384 |
|  Savannah Hospital Authority<br> (St. Joseph's/Candler Health System Obligated Group)<br>Series 2019<br>4.00%, 07/01/2039 | 500 | 463900 |
|  |  | 13712852 |
|  **Guam – 0.8%** | **Guam – 0.8%** | **Guam – 0.8%** |
|  Antonio B Won Pat International Airport Authority<br> (Antonio B Won Pat Intl Airport Authority)<br>Series 2024-A<br>5.25%, 10/01/2040 | 385 | 395557 |
|  Guam Government Waterworks Authority<br> (Guam Waterworks Authority Water And Wastewater System)<br>Series 2024-A<br>5.00%, 07/01/2039 | 270 | 278244 |

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **Principal<br>Amount<br>(000)** | **U.S. $ Value** | **U.S. $ Value** |
|  Guam Power Authority<br> (Guam Power Authority)<br>Series 2017-A<br>5.00%, 10/01/2033 | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020807 |
|  Territory of Guam<br> (Territory of Guam Business Privilege Tax)<br>Series 2021-F<br>4.00%, 01/01/2042 |  | 1000 |  | 887177 |
|  |  |  |  | 2581785 |
|  **Hawaii – 0.7%** | **Hawaii – 0.7%** | **Hawaii – 0.7%** | **Hawaii – 0.7%** | **Hawaii – 0.7%** |
|  City & County Honolulu HI Wastewater System Revenue<br> (City & County Honolulu HI Wastewater System Revenue)<br>Series 2020-A<br>2.624%, 07/01/2045 |  | 250 |  | 170295 |
|  State of Hawaii Airports System Revenue<br> (State of Hawaii Airports System Revenue)<br>Series 2022-A<br>5.00%, 07/01/2047 |  | 1000 |  | 984533 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-C<br> 5.00%, 07/01/2041 |  | 1000 |  | 1016723 |
|  |  |  |  | 2171551 |
|  **Illinois – 6.4%** | **Illinois – 6.4%** | **Illinois – 6.4%** | **Illinois – 6.4%** | **Illinois – 6.4%** |
|  Chicago Board of Education<br> (Chicago Board of Education) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-A<br> 7.00%, 12/01/2046<sup>(a)</sup> |  | 1000 |  | 1024360 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-A<br> 5.00%, 12/01/2036 |  | 120 |  | 119055 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-A<br> 5.00%, 12/01/2034 |  | 100 |  | 101586 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 12/01/2049 |  | 1300 |  | 1324284 |
|  Chicago Midway International Airport<br> (Chicago Midway Intl Airport)<br>Series 2024-C<br>5.00%, 01/01/2034 |  | 1000 |  | 1075448 |
|  Chicago O'Hare International Airport<br> (Chicago O'Hare Intl Airport)<br>Series 2024-A<br>5.00%, 01/01/2036 |  | 500 |  | 528809 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-C<br> 5.00%, 01/01/2034 |  | 1000 |  | 1085064 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/01/2042 |  | 250 |  | 258557 |
|  Chicago Transit Authority Sales Tax Receipts Fund<br> (Chicago Transit Authority Sales Tax Receipts Fund)<br>Series 2024-A<br>5.00%, 12/01/2049 |  | 1535 |  | 1512391 |
|  City of Chicago IL<br> (City of Chicago IL)<br>Series 2024-B<br>5.00%, 01/01/2034 |  | 1000 |  | 1055586 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-B<br> 5.50%, 01/01/2040 |  | 1000 |  | 1032047 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **Principal<br>Amount<br>(000)** | **U.S. $ Value** | **U.S. $ Value** |
|  Illinois Finance Authority<br> (Advocate Aurora Health Obligated Group)<br>Series 2014<br>4.00%, 08/01/2038 | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;929611 |
|  Illinois Finance Authority<br> (Centerpoint Joliet Terminal Railroad)<br>Series 2024<br>4.125%, 12/01/2043<sup>(a)</sup>  |  | 100 |  | 96069 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025<br> 4.80%, 12/01/2043<sup>(a)</sup> |  | 1000 |  | 1000686 |
|  Illinois State Toll Highway Authority<br> (Illinois State Toll Highway Authority)<br>Series 2017-A<br>5.00%, 01/01/2042 |  | 2245 |  | 2252874 |
|  Metropolitan Pier & Exposition Authority<br> (Metropolitan Pier & Exposition Authority) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017<br> 0.00%, 12/15/2042<sup>(b)</sup> |  | 100 |  | 70207 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020<br> 5.00%, 06/15/2050 |  | 1000 |  | 957008 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022<br> 4.00%, 12/15/2042 |  | 1000 |  | 890405 |
| &nbsp;&nbsp;&nbsp;&nbsp; NATL Series 2002 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 06/15/2035 |  | 150 |  | 100537 |
|  State of Illinois<br> (State of Illinois) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020<br> 5.50%, 05/01/2039 |  | 1085 |  | 1130484 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-B<br> 4.00%, 10/01/2033 |  | 100 |  | 101014 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-B<br> 5.50%, 05/01/2047 |  | 1000 |  | 1019133 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024<br> 5.00%, 02/01/2039 |  | 1000 |  | 1040664 |
|  State of Illinois Sales Tax Revenue<br> (State of Illinois Sales Tax Revenue) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025<br> 5.00%, 06/15/2041 |  | 1000 |  | 1035342 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-B<br> 5.00%, 06/15/2040 |  | 1000 |  | 1047371 |
|  |  |  |  | 20788592 |
|  **Indiana – 1.6%** | **Indiana – 1.6%** | **Indiana – 1.6%** | **Indiana – 1.6%** | **Indiana – 1.6%** |
|  City of Valparaiso IN<br> (Pratt Paper IN LLC) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024<br> 4.875%, 01/01/2044<sup>(a)</sup> |  | 100 |  | 94682 |
|  City of Whiting IN<br> (BP PLC) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025<br> 4.20%, 06/01/2044 |  | 1000 |  | 1006695 |
|  Hancock County Redevelopment Authority<br> (County of Hancock IN Mt Comfort North Allocation Area No. 1 Lease) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025<br> 5.00%, 08/15/2036 |  | 1150 |  | 1257734 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **Principal<br>Amount<br>(000)** | **U.S. $ Value** | **U.S. $ Value** |
|  Indiana Finance Authority<br> (Parkview Health System Obligated Group)<br>Series 2024-A<br>5.00%, 11/01/2054<sup>(a)</sup> | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99091 |
|  Indiana Finance Authority<br> (SFP-PUFW I LLC)<br>Series 2024<br>4.25%, 07/01/2044 |  | 1000 |  | 876737 |
|  Indianapolis Local Public Improvement Bond Bank<br> (Pan Am Plaza Hotel) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023<br> 6.00%, 03/01/2053 |  | 150 |  | 152410 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-F<br> 7.75%, 03/01/2067 |  | 100 |  | 107817 |
| &nbsp;&nbsp;&nbsp;&nbsp; BAM Series 2023<br> 5.25%, 03/01/2067 |  | 1600 |  | 1616648 |
|  |  |  |  | 5211814 |
|  **Iowa – 0.0%** | **Iowa – 0.0%** | **Iowa – 0.0%** | **Iowa – 0.0%** | **Iowa – 0.0%** |
|  Iowa Tobacco Settlement Authority<br> (Iowa Tobacco Settlement Authority) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-B |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 06/01/2065 |  | 965 |  | 133446 |
|  **Kentucky – 2.0%** | **Kentucky – 2.0%** | **Kentucky – 2.0%** | **Kentucky – 2.0%** | **Kentucky – 2.0%** |
|  Kenton County Airport Board<br> (Kenton County Airport Board) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A<br> 5.00%, 01/01/2033 |  | 1885 |  | 2049235 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/01/2035 |  | 1095 |  | 1178323 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/01/2044 |  | 350 |  | 357038 |
|  Kentucky Public Energy Authority<br> (BP PLC) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-B<br> 5.00%, 01/01/2055 |  | 1155 |  | 1230772 |
|  Kentucky Public Energy Authority<br> (Goldman Sachs Group) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A<br> 5.00%, 05/01/2055 |  | 500 |  | 528527 |
|  Kentucky Public Energy Authority<br> (Morgan Stanley) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-A<br> 5.25%, 04/01/2054 |  | 200 |  | 215397 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-A<br> 5.25%, 06/01/2055 |  | 1000 |  | 1064725 |
|  |  |  |  | 6624017 |
|  **Louisiana – 1.2%** | **Louisiana – 1.2%** | **Louisiana – 1.2%** | **Louisiana – 1.2%** | **Louisiana – 1.2%** |
|  City of New Orleans LA<br> (City of New Orleans LA) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A<br> 5.00%, 12/01/2041 |  | 1000 |  | 1021896 |
|  Louisiana Public Facilities Authority<br> (Calcasieu Bridge Partners) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024<br> 5.50%, 09/01/2054 |  | 100 |  | 98160 |
|  New Orleans Aviation Board<br> (New Orleans Aviation Board)<br>Series 2024<br>5.25%, 01/01/2040 |  | 1000 |  | 1051684 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/01/2045 |  | 1000 |  | 1018192 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **Principal<br>Amount<br>(000)** | **U.S. $ Value** | **U.S. $ Value** |
|  Parish of St. John the Baptist LA<br> (Marathon Oil Corp.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024<br> 3.30%, 06/01/2037 | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504336 |
|  State of Louisiana Gasoline & Fuels Tax Revenue<br> (State of Louisiana Gasoline & Fuels Tax Revenue) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A<br> 5.00%, 05/01/2039 |  | 200 |  | 213769 |
|  |  |  |  | 3908037 |
|  **Maine – 0.8%** | **Maine – 0.8%** | **Maine – 0.8%** | **Maine – 0.8%** | **Maine – 0.8%** |
|  Finance Authority of Maine<br> (Casella Waste Systems) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024<br> 4.625%, 12/01/2047<sup>(a)</sup> |  | 1000 |  | 969090 |
|  Maine Governmental Facilities Authority<br> (State of Maine Lease) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-A<br> 5.25%, 10/01/2044 |  | 1460 |  | 1514867 |
|  |  |  |  | 2483957 |
|  **Maryland – 1.1%** | **Maryland – 1.1%** | **Maryland – 1.1%** | **Maryland – 1.1%** | **Maryland – 1.1%** |
|  Maryland Economic Development Corp.<br> (Purple Line Transit Partners) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022<br> 5.25%, 06/30/2047 |  | 1070 |  | 1035112 |
|  Maryland Stadium Authority<br> (Baltimore City Public Schools Construction & Revitalization Program) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018<br> 5.00%, 05/01/2036 |  | 445 |  | 460802 |
|  State of Maryland Department of Transportation<br> (Baltimore/Washington Intl Thurgood Marshall Airport) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021<br> 5.00%, 08/01/2046 |  | 1000 |  | 982676 |
|  State of Maryland Department of Transportation<br> (Maryland Aviation Administration) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AG Series 2024<br> 5.25%, 08/01/2043 |  | 1000 |  | 1030236 |
|  |  |  |  | 3508826 |
|  **Massachusetts – 4.8%** | **Massachusetts – 4.8%** | **Massachusetts – 4.8%** | **Massachusetts – 4.8%** | **Massachusetts – 4.8%** |
|  City of Quincy MA<br> (City of Quincy MA) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-B<br> 5.00%, 07/01/2047 |  | 1000 |  | 1019812 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025<br> 5.00%, 07/24/2026 |  | 1000 |  | 1022352 |
|  Commonwealth of Massachusetts<br> (Commonwealth of Massachusetts) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-A<br> 5.00%, 04/01/2044 |  | 1000 |  | 1039998 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/01/2045 |  | 2500 |  | 2588551 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **Principal<br>Amount<br>(000)** | **U.S. $ Value** | **U.S. $ Value** |
|  Massachusetts Bay Transportation Authority Sales Tax Revenue<br> (Massachusetts Bay Transportation Authority Sales Tax Revenue) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-A<br> 5.25%, 07/01/2048 | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1033229 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-B<br> 5.25%, 07/01/2055 |  | 1000 |  | 1037220 |
|  Massachusetts Development Finance Agency<br> (Boston Medical Center Obligated Group) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-D<br> 5.00%, 07/01/2044 |  | 500 |  | 467061 |
|  Massachusetts Development Finance Agency<br> (Emerson College) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-A<br> 5.00%, 01/01/2040 |  | 500 |  | 499292 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025<br> 5.25%, 01/01/2043 |  | 460 |  | 459293 |
|  Massachusetts Development Finance Agency<br> (Lifespan Obligated Group) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025<br> 5.50%, 08/15/2050 |  | 1000 |  | 1003557 |
|  Massachusetts Development Finance Agency<br> (UMass Memorial Health Care Obligated Group) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025<br> 5.00%, 07/01/2045 |  | 1000 |  | 990427 |
|  Massachusetts Port Authority<br> (Massachusetts Port Authority) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-E<br> 5.00%, 07/01/2038 |  | 975 |  | 1008761 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/01/2046 |  | 1500 |  | 1485200 |
|  University of Massachusetts Building Authority<br> (University of Massachusetts) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-1<br> 5.25%, 11/01/2042 |  | 2000 |  | 2029009 |
|  |  |  |  | 15683762 |
|  **Michigan – 1.4%** | **Michigan – 1.4%** | **Michigan – 1.4%** | **Michigan – 1.4%** | **Michigan – 1.4%** |
|  City of Detroit MI<br> (City of Detroit MI) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-C<br> 6.00%, 05/01/2043 |  | 1000 |  | 1067336 |
|  Michigan State Hospital Finance Authority<br> (Corewell Health Obligated Group) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-A<br> 5.00%, 08/15/2046 |  | 2500 |  | 2541153 |
|  Michigan Strategic Fund<br> (Michigan Strategic Fund - I 75 Improvement Project) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AG Series 2018<br> 4.50%, 06/30/2048 |  | 1000 |  | 890459 |
|  |  |  |  | 4498948 |
|  **Minnesota – 0.7%** | **Minnesota – 0.7%** | **Minnesota – 0.7%** | **Minnesota – 0.7%** | **Minnesota – 0.7%** |
|  City of Center City MN<br> (Hazelden Betty Ford Foundation) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025<br> 5.00%, 11/01/2044 |  | 160 |  | 160494 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **Principal<br>Amount<br>(000)** | **U.S. $ Value** | **U.S. $ Value** |
|  City of St. Cloud MN<br> (CentraCare Health System Obligated Group) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024<br> 5.00%, 05/01/2035 | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1104032 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/01/2042 |  | 500 |  | 511308 |
|  City of Woodbury MN<br> (Math & Science Academy/MN) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025<br> 5.50%, 06/01/2055<sup>(a)</sup> |  | 500 |  | 448464 |
|  |  |  |  | 2224298 |
|  **Mississippi – 0.5%** | **Mississippi – 0.5%** | **Mississippi – 0.5%** | **Mississippi – 0.5%** | **Mississippi – 0.5%** |
|  City of Gulfport MS<br> (Memorial Hospital at Gulfport Obligated Group) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025<br> 5.00%, 07/01/2034 |  | 715 |  | 775162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 07/01/2050 |  | 900 |  | 910638 |
|  |  |  |  | 1685800 |
|  **Nebraska – 0.7%** | **Nebraska – 0.7%** | **Nebraska – 0.7%** | **Nebraska – 0.7%** | **Nebraska – 0.7%** |
|  Central Plains Energy Project<br> (Bank of Montreal) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-A<br> 5.00%, 05/01/2054 |  | 1000 |  | 1058525 |
|  Central Plains Energy Project<br> (Royal Bank of Canada) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-A<br> 5.00%, 08/01/2055 |  | 1000 |  | 1067323 |
|  |  |  |  | 2125848 |
|  **Nevada – 0.2%** | **Nevada – 0.2%** | **Nevada – 0.2%** | **Nevada – 0.2%** | **Nevada – 0.2%** |
|  Reno-Tahoe Airport Authority<br> (Reno-Tahoe Airport Authority) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024<br> 5.25%, 07/01/2044 |  | 300 |  | 302267 |
|  State of Nevada Department of Business & Industry<br> (Desertxpress Enterprises) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025<br> 9.50%, 01/01/2065<sup>(a)</sup> |  | 200 |  | 183800 |
|  Tahoe-Douglas Visitors Authority<br> (Tahoe-Douglas Visitors Authority) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020<br> 5.00%, 07/01/2035 |  | 235 |  | 244642 |
|  |  |  |  | 730709 |
|  **New Hampshire – 2.2%** | **New Hampshire – 2.2%** | **New Hampshire – 2.2%** | **New Hampshire – 2.2%** | **New Hampshire – 2.2%** |
|  New Hampshire Business Finance Authority<br> (ARC70 2025-1) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1, Class A1<br> 4.75%, 06/20/2041 |  | 1000 |  | 998762 |
|  New Hampshire Business Finance Authority<br> (Bridgeland Water & Utility Districts 490, 491 & 158) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024<br> 5.375%, 12/15/2035<sup>(a)</sup> |  | 100 |  | 98154 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **Principal<br>Amount<br>(000)** | **U.S. $ Value** | **U.S. $ Value** |
|  New Hampshire Business Finance Authority<br> (Collin County Municipal Utility District No. 4) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025<br> 5.50%, 12/01/2030<sup>(a)</sup> | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100979 |
|  New Hampshire Business Finance Authority<br> (NFA 2024-2) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2, Class A<br> 3.625%, 08/20/2039 |  | 99 |  | 91070 |
|  New Hampshire Business Finance Authority<br> (NFA 2025-1) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025<br> 5.75%, 04/28/2042 |  | 1000 |  | 1012530 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 12/15/2033<sup>(a)</sup> |  | 1000 |  | 1003907 |
|  New Hampshire Business Finance Authority<br> (NFA 2025-2) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2, Class A1<br> 4.216%, 11/20/2042 |  | 1000 |  | 925284 |
|  New Hampshire Business Finance Authority<br> (Novant Health Obligated Group) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025<br> 5.25%, 06/01/2045 |  | 1000 |  | 1010658 |
|  New Hampshire Business Finance Authority<br> (Tamarron Project) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024<br> 5.25%, 12/01/2035<sup>(a)</sup> |  | 944 |  | 943557 |
|  New Hampshire Business Finance Authority<br> (University of Nevada Reno) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; BAM Series 2023<br> 4.50%, 06/01/2053 |  | 960 |  | 884751 |
|  |  |  |  | 7069652 |
|  **New Jersey – 2.6%** | **New Jersey – 2.6%** | **New Jersey – 2.6%** | **New Jersey – 2.6%** | **New Jersey – 2.6%** |
|  New Jersey Transportation Trust Fund Authority<br> (New Jersey Transportation Trust Fund Authority State Lease) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AG Series 2006-C |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 12/15/2033 |  | 100 |  | 74510 |
|  New Jersey Transportation Trust Fund Authority<br> (State of New Jersey Lease) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022<br> 4.00%, 06/15/2039 |  | 1390 |  | 1315780 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-A<br> 4.25%, 06/15/2044 |  | 1000 |  | 908475 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-B<br> 5.25%, 06/15/2050 |  | 1950 |  | 1988648 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A<br> 4.00%, 06/15/2042 |  | 1200 |  | 1076674 |
|  New Jersey Turnpike Authority<br> (New Jersey Turnpike Authority) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A<br> 5.00%, 01/01/2033 |  | 2015 |  | 2272848 |
|  Tobacco Settlement Financing Corp./NJ<br> (Tobacco Settlement Financing Corp/NJ) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-B<br> 5.00%, 06/01/2046 |  | 940 |  | 903414 |
|  |  |  |  | 8540349 |

---

------

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** |
|  **New York – 9.3%** | **New York – 9.3%** | **New York – 9.3%** |
|  Build NYC Resource Corp.<br> (Kipp NYC Public Charter Schools)<br>Series 2023<br>5.00%, 07/01/2032 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596521 |
|  City of New York NY<br> (City of New York NY)<br>Series 2025-A<br>5.00%, 08/01/2035 | 1000 | 1122609 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-E<br>5.00%, 08/01/2041 | 1000 | 1049033 |
|  Empire State Development Corp.<br> (New York State Sales Tax)<br>Series 2024-A<br>5.00%, 03/15/2047 | 1000 | 1017519 |
|  Empire State Development Corp.<br> (State of New York Pers Income Tax)<br>Series 2020-A<br>4.00%, 03/15/2038 | 1000 | 982714 |
|  Long Island Power Authority<br> (Long Island Power Authority)<br>Series 2024-A<br>5.00%, 09/01/2049 | 1000 | 1008497 |
|  Metropolitan Transportation Authority<br> (Metropolitan Transportation Authority)<br>Series 2017<br>Zero Coupon, 11/15/2033 | 425 | 313311 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-C<br>4.75%, 11/15/2045 | 400 | 382956 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A<br>5.25%, 11/15/2049 | 1060 | 1070977 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-B<br>5.00%, 11/15/2039 | 330 | 343823 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025<br>5.25%, 11/15/2045 | 1895 | 1931000 |
|  Monroe County Industrial Development Corp./NY<br> (Eugenio Maria de Hostos Charter School)<br>Series 2024<br>5.00%, 07/01/2044<sup>(a)</sup> | 150 | 132761 |
|  New York City Municipal Water Finance Authority<br> (New York City Municipal Water Finance Authority)<br>Series 2021-B<br>4.00%, 06/15/2045 | 1000 | 894650 |
|  New York City Transitional Finance Authority<br> (New York City Transitional Finance Authority Future Tax Secured Revenue)<br>Series 2024<br>5.00%, 11/01/2037 | 1030 | 1119707 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025<br>5.00%, 05/01/2046 | 1000 | 1015507 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-H<br>5.25%, 11/01/2045 | 1000 | 1046177 |
|  New York Liberty Development Corp.<br> (Goldman Sachs Headquarters)<br>Series 2007<br>5.50%, 10/01/2037 | 1000 | 1137622 |

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| | | |
|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** |
|  New York State Dormitory Authority<br> (State of New York Pers Income Tax)<br>Series 2024-A<br>5.00%, 03/15/2039 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2225 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2375685 |
|  New York Transportation Development Corp.<br> (Delta Air Lines, Inc.)<br>Series 2023<br>5.625%, 04/01/2040 | 500 | 515064 |
|  New York Transportation Development Corp.<br> (JFK Intl Air Terminal)<br>Series 2022<br>5.00%, 12/01/2041 | 1000 | 992901 |
|  New York Transportation Development Corp.<br> (JFK Millennium Partners)<br>Series 2024<br>5.50%, 12/31/2054 | 500 | 485826 |
|  New York Transportation Development Corp.<br> (JFK NTO LLC)<br>Series 2023<br>6.00%, 06/30/2054 | 120 | 121875 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025<br>6.00%, 06/30/2059 | 1000 | 1023279 |
|  New York Transportation Development Corp.<br> (Laguardia Gateway Partners)<br>Series 2016-A<br>5.00%, 07/01/2046 | 250 | 236498 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/01/2050 | 100 | 95079 |
|  Onondaga Civic Development Corp.<br> (Syracuse University)<br>Series 2025<br>5.50%, 12/01/2056 | 1000 | 1054670 |
|  Port Authority of New York & New Jersey<br> (Port Authority of New York & New Jersey)<br>Series 2020-2<br>4.00%, 07/15/2037 | 900 | 875605 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022<br>5.25%, 08/01/2041 | 855 | 889903 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 08/01/2047 | 1285 | 1299419 |
|  Suffolk Regional Off-Track Betting Corp.<br> (Suffolk Regional Off-Track Betting)<br>Series 2024<br>5.75%, 12/01/2044 | 100 | 100002 |
|  Triborough Bridge & Tunnel Authority<br> (Triborough Bridge & Tunnel Authority Real Estate Transfer Tax)<br>Series 2025<br>5.00%, 12/01/2046 | 500 | 507733 |
|  Triborough Bridge & Tunnel Authority<br> (Triborough Bridge & Tunnel Authority)<br>Series 2025-A<br>5.00%, 02/01/2028 | 1000 | 1062819 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/01/2028 | 1000 | 1066965 |
|  Triborough Bridge & Tunnel Authority Sales Tax Revenue<br> (Triborough Bridge & Tunnel Authority Sales Tax Revenue)<br>Series 2024-A<br>5.00%, 05/15/2054 | 1065 | 1077690 |

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **Principal<br>Amount<br>(000)** | **U.S. $ Value** | **U.S. $ Value** |
|  Troy Capital Resource Corp.<br> (Rensselaer Polytechnic Institute)<br>Series 2020<br>5.00%, 09/01/2030 | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1091102 |
|  |  |  |  | 30037499 |
|  **North Carolina – 1.4%** | **North Carolina – 1.4%** | **North Carolina – 1.4%** | **North Carolina – 1.4%** | **North Carolina – 1.4%** |
|  County of Guilford NC<br> (County of Guilford NC)<br>Series 2017-B<br>4.00%, 05/01/2033 |  | 1140 |  | 1151861 |
|  Greater Asheville Regional Airport Authority<br> (Greater Asheville Regional Airport Authority)<br>AG Series 2023<br>5.25%, 07/01/2042 |  | 1000 |  | 1021820 |
|  Nash Health Care Systems<br> (Nash Health Care Systems)<br>Series 2025<br>5.75%, 02/01/2050 |  | 1000 |  | 1041464 |
|  Raleigh Durham Airport Authority<br> (Raleigh Durham Airport Authority)<br>Series 2015-A<br>5.00%, 05/01/2029 |  | 1225 |  | 1226529 |
|  |  |  |  | 4441674 |
|  **Ohio – 2.3%** | **Ohio – 2.3%** | **Ohio – 2.3%** | **Ohio – 2.3%** | **Ohio – 2.3%** |
|  Buckeye Tobacco Settlement Financing Authority<br> (Buckeye Tobacco Settlement Financing Authority)<br>Series 2020-B<br>5.00%, 06/01/2055 |  | 1000 |  | 807729 |
|  Columbus Regional Airport Authority<br> (Columbus Regional Airport Authority)<br>Series 2025<br>5.25%, 01/01/2042 |  | 1800 |  | 1849331 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/01/2050 |  | 1955 |  | 2000238 |
|  Jefferson County Port Authority/OH<br> (JSW Steel USA Ohio, Inc.)<br>Series 2021<br>3.50%, 12/01/2051<sup>(a)</sup> |  | 100 |  | 72015 |
|  Lancaster Port Authority<br> (Royal Bank of Canada)<br>Series 2024-A<br>5.00%, 02/01/2055 |  | 1000 |  | 1062974 |
|  Ohio Higher Educational Facility Commission<br> (John Carroll University)<br>Series 2025<br>5.00%, 10/01/2034 |  | 1140 |  | 1193529 |
|  Ohio Higher Educational Facility Commission<br> (Xavier University)<br>Series 2024<br>5.00%, 05/01/2042 |  | 400 |  | 399286 |
|  |  |  |  | 7385102 |
|  **Oklahoma – 1.3%** | **Oklahoma – 1.3%** | **Oklahoma – 1.3%** | **Oklahoma – 1.3%** | **Oklahoma – 1.3%** |
|  Oklahoma Turnpike Authority<br> (Oklahoma Turnpike Authority)<br>Series 2025-A<br>5.00%, 01/01/2045 |  | 1000 |  | 1028975 |

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **Principal<br>Amount<br>(000)** | **U.S. $ Value** | **U.S. $ Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-B<br>5.00%, 01/01/2040<sup>(c)</sup> | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1072617 |
|  Tulsa Municipal Airport Trust Trustees/OK<br> (American Airlines, Inc.)<br>Series 2025<br>6.25%, 12/01/2040 |  | 1000 |  | 1083326 |
|  University of Oklahoma (The)<br> (University of Oklahoma/The)<br>BAM Series 2024-A<br>5.00%, 07/01/2044 |  | 890 |  | 909702 |
|  |  |  |  | 4094620 |
|  **Oregon – 0.1%** | **Oregon – 0.1%** | **Oregon – 0.1%** | **Oregon – 0.1%** | **Oregon – 0.1%** |
|  Port of Portland OR Airport Revenue<br> (Port of Portland OR Airport Revenue)<br>Series 2022-2<br>4.00%, 07/01/2047 |  | 500 |  | 425236 |
|  **Pennsylvania – 3.5%** | **Pennsylvania – 3.5%** | **Pennsylvania – 3.5%** | **Pennsylvania – 3.5%** | **Pennsylvania – 3.5%** |
|  Adams County General Authority<br> (Gettysburg College)<br>Series 2025<br>5.00%, 08/15/2043 |  | 660 |  | 660748 |
|  Bucks County Industrial Development Authority<br> (Grand View Hospital/Sellersville PA Obligated Group)<br>Series 2021<br>4.00%, 07/01/2046 |  | 100 |  | 80965 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/01/2030 |  | 100 |  | 106380 |
|  City of Philadelphia PA Water & Wastewater Revenue<br> (City of Philadelphia PA Water & Wastewater Revenue)<br>Series 2015-B<br>5.00%, 07/01/2032 |  | 1000 |  | 1001507 |
| &nbsp;&nbsp;&nbsp;&nbsp; AG Series 2024-C<br>5.25%, 09/01/2049 |  | 1000 |  | 1033588 |
|  Commonwealth of Pennsylvania<br> (Commonwealth of Pennsylvania)<br>Series 2023<br>5.00%, 09/01/2025 |  | 1000 |  | 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024<br>4.00%, 08/15/2043 |  | 200 |  | 182433 |
|  Pennsylvania Economic Development Financing Authority<br> (Commonwealth of Pennsylvania Dept. of Transportation)<br>Series 2022<br>5.50%, 06/30/2039 |  | 300 |  | 309159 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 06/30/2061 |  | 1000 |  | 1027915 |
|  Pennsylvania Economic Development Financing Authority<br> (Core Natural Resources)<br>Series 2025<br>5.45%, 01/01/2051<sup>(a)</sup> |  | 100 |  | 101748 |

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **Principal<br>Amount<br>(000)** | **U.S. $ Value** | **U.S. $ Value** |
|  Pennsylvania Economic Development Financing Authority<br> (Noble Environmental, Inc.)<br>Series 2025<br>6.875%, 09/01/2047<sup>(a) (c)</sup> | $| 250 | $| 247004 |
|  Pennsylvania Higher Educational Facilities Authority<br> (Thomas Jefferson University Obligated Group)<br>AG Series 2024<br>5.25%, 11/01/2048 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1272716 |
|  Philadelphia Gas Works Co.<br> (Philadelphia Gas Works)<br>Series 2024<br>5.00%, 08/01/2030 |  | 1000 |  | 1104760 |
|  Pittsburgh Water & Sewer Authority<br> (Pittsburgh Water & Sewer Authority)<br>AG Series 2017-A<br>5.00%, 09/01/2025 |  | 1000 |  | 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; AG Series 2019-A<br>5.00%, 09/01/2044 |  | 1000 |  | 1011987 |
|  Pocono Mountains Industrial Park Authority<br> (St. Luke's Hospital Obligated Group)<br>Series 2015<br>5.00%, 08/15/2040 |  | 1140 |  | 1140089 |
|  |  |  |  | 11280999 |
|  **Puerto Rico – 0.3%** | **Puerto Rico – 0.3%** | **Puerto Rico – 0.3%** | **Puerto Rico – 0.3%** | **Puerto Rico – 0.3%** |
|  Commonwealth of Puerto Rico<br> (Commonwealth of Puerto Rico)<br>Series 2022-C<br>Zero Coupon, 11/01/2043 |  | 166 |  | 103986 |
|  Puerto Rico Electric Power Authority<br> (Puerto Rico Electric Power Authority)<br>Series 2008-W<br>5.50%, 07/01/2021<sup>(d) (e)</sup> |  | 1050 |  | 694312 |
|  Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Auth<br> (San Juan Cruise Port LLC)<br>Series 2024<br>6.75%, 01/01/2046 |  | 100 |  | 109974 |
|  Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue<br> (Puerto Rico Sales Tax Financing Sales Tax Revenue)<br>Series 2019-A<br>5.00%, 07/01/2058 |  | 100 |  | 91448 |
|  |  |  |  | 999720 |
|  **South Carolina – 2.2%** | **South Carolina – 2.2%** | **South Carolina – 2.2%** | **South Carolina – 2.2%** | **South Carolina – 2.2%** |
|  South Carolina Jobs-Economic Development Authority<br> (Beaufort Memorial Hospital Obligated Group)<br>Series 2024<br>5.50%, 11/15/2044 |  | 395 |  | 386331 |
|  South Carolina Jobs-Economic Development Authority<br> (Bon Secours Mercy Health)<br>Series 2020<br>5.00%, 12/01/2046 |  | 1000 |  | 971699 |

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **Principal<br>Amount<br>(000)** | **U.S. $ Value** | **U.S. $ Value** |
|  South Carolina Jobs-Economic Development Authority<br> (Novant Health Obligated Group)<br>Series 2024<br>5.00%, 11/01/2038 | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1056296 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 11/01/2044 |  | 2095 |  | 2151603 |
|  South Carolina Public Service Authority<br> (South Carolina Public Service Authority)<br>Series 2021-A<br>4.00%, 12/01/2035 |  | 1000 |  | 997225 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-A<br>5.00%, 12/01/2043 |  | 1000 |  | 1020943 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-B<br>5.00%, 12/01/2044 |  | 500 |  | 507602 |
|  |  |  |  | 7091699 |
|  **Tennessee – 1.1%** | **Tennessee – 1.1%** | **Tennessee – 1.1%** | **Tennessee – 1.1%** | **Tennessee – 1.1%** |
|  Bristol Industrial Development Board<br> (Bristol Industrial Development Board Sales Tax)<br>Series 2016-A<br>5.00%, 12/01/2035<sup>(a)</sup> |  | 505 |  | 475560 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-B<br>Zero Coupon, 12/01/2031<sup>(a)</sup> |  | 100 |  | 70405 |
|  Metropolitan Government of Nashville & Davidson County TN<br> (Metropolitan Govt of Nashville & Davidson County TN)<br>Series 2024-C<br>4.00%, 01/01/2044 |  | 1500 |  | 1365408 |
|  Metropolitan Nashville Airport Authority (The)<br> (Metropolitan Nashville Airport Authority/The)<br>Series 2022-B<br>5.50%, 07/01/2041 |  | 465 |  | 487486 |
|  Shelby County Health & Educational Facilities Board<br> (Madrone Memphis Student Housing I)<br>Series 2024<br>5.25%, 06/01/2056<sup>(a)</sup> |  | 100 |  | 89991 |
|  Tennessee Energy Acquisition Corp.<br> (Pacific Life Insurance)<br>Series 2025-A<br>5.00%, 12/01/2035 |  | 1000 |  | 1059656 |
|  |  |  |  | 3548506 |
|  **Texas – 4.7%** | **Texas – 4.7%** | **Texas – 4.7%** | **Texas – 4.7%** | **Texas – 4.7%** |
|  Aledo Independent School District<br> (Aledo Independent School District)<br>Series 2023<br>5.00%, 02/15/2042 |  | 1000 |  | 1035256 |
|  Arlington Higher Education Finance Corp.<br> (BASIS Texas Charter Schools)<br>Series 2024<br>5.00%, 06/15/2064<sup>(a)</sup> |  | 1000 |  | 848709 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025<br>5.00%, 06/15/2030<sup>(a) (c)</sup> |  | 1000 |  | 1056536 |

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| | | |
|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** |
|  Board of Regents of the University of Texas System<br> (Board of Regents of the University of Texas System)<br>Series 2019-B<br>5.00%, 08/15/2049 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1042757 |
|  Central Texas Turnpike System<br> (Central Texas Turnpike System)<br>Series 2024-C<br>5.00%, 08/15/2038 | 100 | 106164 |
|  City of Dallas TX<br> (City of Dallas TX)<br>Series 2024-C<br>5.00%, 02/15/2032 | 1000 | 1118774 |
|  City of Georgetown TX Utility System Revenue<br> (City of Georgetown TX Utility System Revenue)<br>BAM Series 2024<br>5.00%, 08/15/2044 | 1535 | 1565490 |
|  City of Houston TX Airport System Revenue<br> (City of Houston TX Airport System Revenue)<br>AG Series 2023<br>5.00%, 07/01/2038 | 500 | 516345 |
|  City of Houston TX Airport System Revenue<br> (United Airlines, Inc.)<br>Series 2024-B<br>5.25%, 07/15/2034 | 1000 | 1047919 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 07/15/2036 | 1000 | 1056747 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 07/15/2038 | 1000 | 1043664 |
|  City of San Antonio TX Electric & Gas Systems Revenue<br> (City of San Antonio TX Electric & Gas Systems Revenue)<br>Series 2021-A<br>5.00%, 02/01/2037 | 1250 | 1310151 |
|  Hidalgo County Regional Mobility Authority<br> (Hidalgo County Regional Mobility Authority)<br>Series 2022-B<br>5.00%, 12/01/2036 | 300 | 304791 |
|  Lower Colorado River Authority<br> (Lower Colorado River Authority)<br>AG Series 2022<br>5.00%, 05/15/2034 | 1000 | 1084545 |
|  Port of Beaumont Industrial Development Authority<br> (Jefferson 2020 Bond Lessee & Borrower Obligated Group)<br>Series 2021<br>4.10%, 01/01/2028<sup>(a)</sup> | 1000 | 893649 |
|  Port of Beaumont Navigation District<br> (Jefferson 2020 Bond Lessee & Borrower Obligated Group)<br>Series 2024<br>5.125%, 01/01/2044<sup>(a)</sup> | 100 | 90731 |
|  Texas Municipal Gas Acquisition & Supply Corp. II<br> (JPMorgan Chase & Co.)<br>Series 2007<br>3.939% (CME Term SOFR 3 Month + 1.05%), 09/15/2027<sup>(f)</sup> | 715 | 717763 |

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **Principal<br>Amount<br>(000)** | **U.S. $ Value** | **U.S. $ Value** |
|  Texas Municipal Gas Acquisition & Supply Corp. IV<br> (BP PLC)<br>Series 2023-B<br>5.50%, 01/01/2054 | $| 200 | $| 218729 |
|  Texas Private Activity Bond Surface Transportation Corp.<br> (NTE Mobility Partners Segments 3)<br>Series 2019<br>5.00%, 06/30/2058 |  | 100 |  | 93006 |
|  |  |  |  | 15151726 |
|  **Utah – 0.9%** | **Utah – 0.9%** | **Utah – 0.9%** | **Utah – 0.9%** | **Utah – 0.9%** |
|  City of Salt Lake City UT Airport Revenue<br> (City of Salt Lake City UT Airport Revenue)<br>Series 2023-A<br>5.50%, 07/01/2053 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2049848 |
|  Utah Infrastructure Agency<br> (Utah Infrastructure Agency)<br>Series 2024<br>5.50%, 10/15/2044 |  | 500 |  | 512982 |
|  Wolf Creek Infrastructure Financing District No. 1<br> (Wolf Creek Infrastructure Financing District No. 1 Wolf Creek Assessment Area 1)<br>Series 2025<br>5.75%, 12/01/2044 |  | 200 |  | 197652 |
|  |  |  |  | 2760482 |
|  **Virginia – 1.2%** | **Virginia – 1.2%** | **Virginia – 1.2%** | **Virginia – 1.2%** | **Virginia – 1.2%** |
|  Fairfax County Industrial Development Authority<br> (Inova Health System Obligated Group)<br>Series 2022<br>4.00%, 05/15/2042 |  | 1000 |  | 917757 |
|  Henrico County Economic Development Authority<br> (Bon Secours Mercy Health)<br>Series 2025<br>5.00%, 11/01/2048 |  | 1000 |  | 993231 |
|  Virginia Beach Development Authority<br> (Westminster-Canterbury on Chesapeake Bay Obligated Group)<br>Series 2023<br>7.00%, 09/01/2059 |  | 100 |  | 107780 |
|  Virginia Small Business Financing Authority<br> (95 Express Lanes LLC)<br>Series 2022<br>4.00%, 07/01/2041 |  | 1000 |  | 885040 |
|  Virginia Small Business Financing Authority<br> (LifeSpire of Virginia Obligated Group)<br>Series 2024<br>4.50%, 12/01/2044 |  | 1000 |  | 906204 |
|  |  |  |  | 3810012 |
|  **Washington – 3.0%** | **Washington – 3.0%** | **Washington – 3.0%** | **Washington – 3.0%** | **Washington – 3.0%** |
|  City of Federal Way WA<br> (City of Federal Way WA)<br>Series 2024<br>5.00%, 12/01/2049 |  | 1000 |  | 1020602 |

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **Principal<br>Amount<br>(000)** | **U.S. $ Value** | **U.S. $ Value** |
|  King & Snohomish Counties School District No. 417 Northshore<br> (King & Snohomish Counties School District No. 417 Northshore)<br>Series 2024<br>5.00%, 12/01/2040 | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106433 |
|  Port of Seattle WA<br> (Port of Seattle WA)<br>Series 2019<br>5.00%, 04/01/2044 |  | 1000 |  | 986232 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024<br>5.25%, 07/01/2049 |  | 1000 |  | 1014319 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-B<br>5.00%, 10/01/2039 |  | 1555 |  | 1623164 |
|  Vancouver Housing Authority<br> (Vancouver Housing Authority)<br>Series 2025<br>4.25%, 02/01/2038 |  | 2000 |  | 1944658 |
|  Washington Health Care Facilities Authority<br> (Fred Hutchinson Cancer Center Obligated Group)<br>Series 2020<br>5.00%, 09/01/2045 |  | 1000 |  | 985122 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025<br>4.00%, 03/01/2041 |  | 1000 |  | 921101 |
|  Washington State Housing Finance Commission<br> (Washington State Housing Finance Commission)<br>Series 2025-2<br>4.078%, 11/20/2041 |  | 1000 |  | 917896 |
|  Washington State Housing Finance Commission<br> (WSHFC 2024-1)<br>Series 2024-1, Class A<br>4.221%, 03/01/2050 |  | 298 |  | 279921 |
|  |  |  |  | 9799448 |
|  **West Virginia – 0.3%** | **West Virginia – 0.3%** | **West Virginia – 0.3%** | **West Virginia – 0.3%** | **West Virginia – 0.3%** |
|  West Virginia Hospital Finance Authority<br> (West Virginia United Health System Obligated Group)<br>Series 2023<br>5.00%, 06/01/2041 |  | 1000 |  | 1027991 |
|  **Wisconsin – 2.3%** | **Wisconsin – 2.3%** | **Wisconsin – 2.3%** | **Wisconsin – 2.3%** | **Wisconsin – 2.3%** |
|  Wisconsin Health & Educational Facilities Authority<br> (Chiara Housing & Services Obligated Group)<br>Series 2024<br>5.00%, 07/01/2035 |  | 95 |  | 95313 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025<br>6.375%, 07/01/2045 |  | 1000 |  | 1017403 |
|  Wisconsin Health & Educational Facilities Authority<br> (Forensic Science & Protective Medicine Collaboration)<br>Series 2024<br>5.00%, 08/01/2027<sup>(a)</sup> |  | 150 |  | 152329 |
|  Wisconsin Public Finance Authority<br> (Alpha Ranch Water Control & Improvement District of Denton & Wise Counties)<br>Series 2024<br>Zero Coupon, 12/15/2038<sup>(a)</sup> |  | 100 |  | 45024 |

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **Principal<br>Amount<br>(000)** | **U.S. $ Value** | **U.S. $ Value** |
|  Wisconsin Public Finance Authority<br> (Foundation Academy Charter School A NJ Nonprofit)<br>Series 2024<br>5.00%, 07/01/2060<sup>(a)</sup> | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | $| 424041 |
|  Wisconsin Public Finance Authority<br> (Heritage Bend Project)<br>Series 2025<br>Zero Coupon, 12/15/2042<sup>(a)</sup> |  | 1000 |  | 290259 |
|  Wisconsin Public Finance Authority<br> (Puerto Rico Tollroads LLC)<br>Series 2024<br>5.50%, 07/01/2044 |  | 1000 |  | 984032 |
|  Wisconsin Public Finance Authority<br> (Queens University of Charlotte)<br>Series 2022<br>5.25%, 03/01/2047 |  | 1000 |  | 940753 |
|  Wisconsin Public Finance Authority<br> (Southeast Overtown Park West Community Redevelopment Agency)<br>Series 2024<br>5.00%, 06/01/2041<sup>(a)</sup> |  | 100 |  | 97632 |
|  Wisconsin Public Finance Authority<br> (SR 400 Peach Partners LLC)<br>Series 2025<br>5.75%, 06/30/2060 |  | 1875 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1836174 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 06/30/2060 |  | 1000 |  | 1057154 |
|  Wisconsin Public Finance Authority<br> (Triad Math & Science Academy)<br>Series 2025<br>5.25%, 06/15/2045 |  | 500 |  | 476628 |
|  |  |  |  | 7416742 |
|  Total Long-Term Municipal Bonds<br>(cost $299,499,895) |  |  |  | 294425926 |
|  **Short-Term Municipal Notes – 8.2%** | **Short-Term Municipal Notes – 8.2%** | **Short-Term Municipal Notes – 8.2%** | **Short-Term Municipal Notes – 8.2%** | **Short-Term Municipal Notes – 8.2%** |
|  **Arizona – 0.2%** | **Arizona – 0.2%** | **Arizona – 0.2%** | **Arizona – 0.2%** | **Arizona – 0.2%** |
|  Arizona Health Facilities Authority<br> (Banner Health Obligated Group)<br>Series 2017-C<br>3.95%, 01/01/2046<sup>(g)</sup> |  | 335 |  | 335000 |
|  Arizona Industrial Development Authority<br> (Phoenix Children's Hospital)<br>Series 2024<br>3.90%, 02/01/2048<sup>(g)</sup> |  | 260 |  | 260000 |
|  |  |  |  | 595000 |
|  **California – 0.3%** |  |  |  |  |
|  City of Los Angeles CA<br> (City of Los Angeles CA)<br>Series 2025<br>5.00%, 06/25/2026 |  | 1000 |  | 1024091 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **Principal<br>Amount<br>(000)** | **U.S. $ Value** | **U.S. $ Value** |
|  **Colorado – 0.8%** |  |  |  |  |
|  Colorado Educational & Cultural Facilities Authority<br> (Miami Beach Jewish Community Center)<br>Series 2022<br>3.90%, 07/01/2041<sup>(g)</sup> | $| 1000 | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 |
|  Colorado Educational & Cultural Facilities Authority<br> (Michael Ann Russell Jewish Community Center)<br>Series 2012<br>3.95%, 01/01/2039<sup>(g)</sup> |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 |  | 350000 |
|  Colorado State Education Loan Program<br> (Colorado State Education Loan Program)<br>Series 2025<br>5.00%, 06/30/2026 |  | 1150 |  | 1173853 |
|  |  |  |  | 2523853 |
|  **Florida – 0.3%** | **Florida – 0.3%** | **Florida – 0.3%** | **Florida – 0.3%** | **Florida – 0.3%** |
|  School Board of Miami-Dade County (The)<br> (School Board of Miami-Dade County/The)<br>Series 2025<br>4.00%, 01/07/2026<sup>(c)</sup> |  | 1000 |  | 1004628 |
|  **Idaho – 0.4%** | **Idaho – 0.4%** | **Idaho – 0.4%** | **Idaho – 0.4%** | **Idaho – 0.4%** |
|  Idaho Health Facilities Authority<br> (St. Luke's Health System Obligated Group/ID)<br>Series 2018-C<br>3.85%, 03/01/2048<sup>(g)</sup> |  | 1370 |  | 1370000 |
|  **Illinois – 0.2%** | **Illinois – 0.2%** | **Illinois – 0.2%** | **Illinois – 0.2%** | **Illinois – 0.2%** |
|  Illinois Finance Authority<br> (University of Chicago Medical Center Obligated Group)<br>Series 2023<br>3.75%, 08/01/2043<sup>(g)</sup> |  | 655 |  | 655000 |
|  **Maryland – 0.6%** | **Maryland – 0.6%** | **Maryland – 0.6%** | **Maryland – 0.6%** | **Maryland – 0.6%** |
|  Maryland Health & Higher Educational Facilities Authority<br> (Johns Hopkins Health System Obligated Group)<br>Series 2024<br>3.85%, 06/01/2046<sup>(g)</sup> |  | 450 |  | 450000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 06/01/2048<sup>(g)</sup> |  | 810 |  | 810000 |
|  Maryland Health & Higher Educational Facilities Authority<br> (University of Maryland Medical System Obligated Group)<br>Series 2008<br>3.90%, 07/01/2041<sup>(g)</sup> |  | 600 |  | 600000 |
|  |  |  |  | 1860000 |
|  **Michigan – 0.2%** |  |  |  |  |
|  Green Lake Township Economic Development Corp.<br> (Interlochen Center for the Arts)<br>Series 2023<br>3.95%, 06/01/2034<sup>(g)</sup> |  | 700 |  | 700000 |

---

------

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** |
|  **New Jersey – 0.3%** | **New Jersey – 0.3%** | **New Jersey – 0.3%** |
|  City of Hoboken NJ<br> (City of Hoboken NJ)<br>Series 2025-A<br>4.00%, 03/10/2026 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1007325 |
|  **New York – 2.3%** | **New York – 2.3%** | **New York – 2.3%** |
|  City of New York NY<br> (City of New York NY)<br>Series 2008-L<br>3.85%, 04/01/2038<sup>(g)</sup> | 3725 | 3725000 |
|  Metropolitan Transportation Authority Dedicated Tax Fund<br> (Metropolitan Transportation Authority Dedicated Tax Fund)<br>Series 2017-A<br>3.90%, 11/01/2031<sup>(g)</sup> | 570 | 570000 |
|  Town of Oyster Bay NY<br> (Town of Oyster Bay NY)<br>Series 2025<br>4.00%, 03/06/2026 | 1000 | 1007111 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 08/21/2026 | 1120 | 1135483 |
|  Triborough Bridge & Tunnel Authority<br> (Triborough Bridge & Tunnel Authority)<br>Series 2025<br>3.71% (MUNIPSA + 0.98%), 05/01/2026<sup>(f)</sup> | 1000 | 1000000 |
|  |  | 7437594 |
|  **North Carolina – 0.2%** | **North Carolina – 0.2%** | **North Carolina – 0.2%** |
|  Charlotte-Mecklenburg Hospital Authority (The)<br> (Atrium Health Obligated Group)<br>AG Series 2017-E<br>3.90%, 01/15/2044<sup>(g)</sup> | 570 | 570000 |
|  **Ohio – 1.0%** | **Ohio – 1.0%** | **Ohio – 1.0%** |
|  County of Montgomery OH<br> (Premier Health Partners Obligated Group)<br>Series 2019<br>3.85%, 11/15/2045<sup>(g)</sup> | 3280 | 3280000 |
|  **Pennsylvania – 0.1%** | **Pennsylvania – 0.1%** | **Pennsylvania – 0.1%** |
|  Delaware Valley Regional Finance Authority<br> (Delaware Valley Regional Finance Authority)<br>Series 2024-B<br>3.90%, 09/01/2059<sup>(g)</sup> | 500 | 500000 |
|  **South Carolina – 0.6%** | **South Carolina – 0.6%** | **South Carolina – 0.6%** |
|  Berkeley County School District<br> (Berkeley County School District)<br>Series 2025-A<br>5.00%, 06/01/2026<sup>(c)</sup> | 1000 | 1018025 |
|  Orangeburg County School District<br> (Orangeburg County School District)<br>Series 2025<br>5.00%, 08/13/2026 | 1000 | 1022852 |
|  |  | 2040877 |

---

------

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** |
|  **Virginia – 0.3%** | **Virginia – 0.3%** | **Virginia – 0.3%** |
|  Hampton Roads Sanitation District<br> (Hampton Roads Sanitation District)<br>Series 2025-A<br>5.00%, 07/15/2026 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020759 |
|  **West Virginia – 0.2%** | **West Virginia – 0.2%** | **West Virginia – 0.2%** |
|  West Virginia Hospital Finance Authority<br> (West Virginia United Health System Obligated Group)<br>Series 2018<br>2.73%, 06/01/2034<sup>(g)</sup> | 600 | 600000 |
|  **Wisconsin – 0.2%** | **Wisconsin – 0.2%** | **Wisconsin – 0.2%** |
|  Wisconsin Health & Educational Facilities Authority<br> (Medical College of Wisconsin)<br>Series 2023-B<br>3.90%, 12/01/2033<sup>(g)</sup> | 500 | 500000 |
|  Total Short-Term Municipal Notes <br>(cost $26,675,236) | Total Short-Term Municipal Notes <br>(cost $26,675,236) | 26689127 |
|  Total Municipal Obligations <br>(cost $326,175,131) | Total Municipal Obligations <br>(cost $326,175,131) | 321115053 |
|  **COMMERCIAL MORTGAGE-BACKED SECURITIES – 0.0%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES – 0.0%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES – 0.0%** |
|  **Agency CMBS – 0.0%** | **Agency CMBS – 0.0%** | **Agency CMBS – 0.0%** |
|  Federal Home Loan Mortgage Corp. Multifamily ML Certificates<br>Series 2024-ML21, Class AUS<br>4.615%, 08/25/2041 <br>(cost $100,197) | 99 | 100698 |
|  | **Shares** |  |
|  **SHORT-TERM INVESTMENTS – 1.1%** | **SHORT-TERM INVESTMENTS – 1.1%** | **SHORT-TERM INVESTMENTS – 1.1%** |
|  **Investment Companies – 1.1%** | **Investment Companies – 1.1%** | **Investment Companies – 1.1%** |
|  AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 4.14%<sup>(h) (i) (j)</sup> <br>(cost $3,407,409) | 3407409 | 3407409 |
|  **Total Investments – 100.3%** <br>(cost $329,682,737)<sup>(k)</sup> | **Total Investments – 100.3%** <br>(cost $329,682,737)<sup>(k)</sup> | 324623160 |
|  Other assets less liabilities – (0.3)% | Other assets less liabilities – (0.3)% | (889052) |
|  **Net Assets – 100.0%** | **Net Assets – 100.0%** | $**323734108** |

---

------

**CENTRALLY CLEARED CREDIT DEFAULT SWAPS** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Fixed<br>Rate<br>(Pay)<br>Receive** | **Payment<br>Frequency** | **Implied<br>Credit<br>Spread at<br>August 31,<br>2025** | **Notional<br>Amount<br>(000)** | **Notional<br>Amount<br>(000)** | **Market<br>Value** | **Upfront<br>Premiums<br>Paid(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
| **Buy Contracts** | **Buy Contracts** | **Buy Contracts** | **Buy Contracts** | **Buy Contracts** | **Buy Contracts** | **Buy Contracts** | **Buy Contracts** | **Buy Contracts** |
| &nbsp;&nbsp;&nbsp;&nbsp; CDX-NAHY Series 44, 5 Year Index, 06/20/2030\* | (5.00)% | Quarterly | 3.21% | USD | 550 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(45282) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22329) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22953) |

---

*\** *Termination date* 

**CENTRALLY CLEARED INFLATION (CPI) SWAPS** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | **Rate Type** | **Rate Type** | | | | |
| **Notional<br>Amount<br>(000)** | **Notional<br>Amount<br>(000)** | <br>**Termination<br>Date** | **Payments<br>made<br>by the<br>Fund** | **Payments<br>received<br>by the<br>Fund** | <br>**Payment<br>Frequency<br>Paid/<br>Received** |<br>**Market<br>Value** |<br>**Upfront<br>Premiums<br>Paid<br>(Received)** |<br>**Unrealized<br>Appreciation<br>(Depreciation)** |
| USD | 2290 | 10/15/2028 | CPI# | 2.565% | Maturity | $(23867) | $— | $(23867) |
| USD | 3100 | 10/15/2029 | 2.569% | CPI# | Maturity | 27676 |  | 27676 |
| USD | 3000 | 10/15/2029 | 2.485% | CPI# | Maturity | 38907 |  | 38907 |
| USD | 1568 | 10/15/2029 | 2.516% | CPI# | Maturity | 17994 |  | 17994 |
| USD | 1566 | 10/15/2029 | 2.451% | CPI# | Maturity | 22852 |  | 22852 |
| USD | 1566 | 10/15/2029 | 2.499% | CPI# | Maturity | 19254 |  | 19254 |
| USD | 2410 | 10/15/2030 | CPI# | 2.531% | Maturity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24266) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24266) |
|  |  |  |  |  |  | $78550 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $78550 |

---

*#* *Variable interest rate based on the rate of inflation as determined by the Consumer Price Index (CPI).* 

**CENTRALLY CLEARED INTEREST RATE SWAPS** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | **Rate Type** | **Rate Type** | | | | |
| **Notional<br>Amount<br>(000)** | **Notional<br>Amount<br>(000)** | <br>**Termination<br>Date** | **Payments<br>made<br>by the<br>Fund** | **Payments<br>received<br>by the<br>Fund** |<br>**Payment<br>Frequency<br>Paid/<br>Received** |<br>**Market<br>Value** |<br>**Upfront<br>Premiums<br>Paid<br>(Received)** |<br>**Unrealized<br>Appreciation<br>(Depreciation)** |
| USD | 1300 | 10/15/2030 | 1 Day SOFR | 4.082% | Annual | $42569 | $— | $42569 |
| USD | 800 | 10/15/2030 | 1 Day SOFR | 4.092% | Annual | 26433 |  | 26433 |
| USD | 1700 | 12/03/2031 | 1 Day SOFR | 3.967% | Annual | 47423 |  | 47423 |
| USD | 1700 | 12/03/2031 | 1 Day SOFR | 4.212% | Annual | 72990 |  | 72990 |
| USD | 1600 | 12/03/2031 | 1 Day SOFR | 4.088% | Annual | 55701 |  | 55701 |
| USD | 1500 | 12/03/2031 | 1 Day SOFR | 4.036% | Annual | 47307 |  | 47307 |
| USD | 1190 | 12/03/2031 | 1 Day SOFR | 4.146% | Annual | 46093 | 19 | 46074 |
| USD | 700 | 12/03/2031 | 1 Day SOFR | 3.898% | Annual | 15886 | (97) | 15983 |
| USD | 390 | 12/03/2031 | 1 Day SOFR | 4.125% | Annual | 14521 |  | 14521 |
| USD | 1950 | 12/15/2031 | 1 Day SOFR | 4.150% | Annual | 75392 |  | 75392 |
| USD | 13100 | 03/12/2032 | 1 Day SOFR | 3.660% | Annual | 126863 |  | 126863 |
| USD | 2980 | 03/12/2032 | 1 Day SOFR | 3.826% | Annual | 58891 |  | 58891 |
| USD | 3460 | 03/15/2033 | 1 Day SOFR | 3.776% | Annual | 49007 |  | 49007 |
| USD | 700 | 08/15/2034 | 3.314% | 1 Day SOFR | Annual | 17496 |  | 17496 |
| USD | 400 | 08/15/2034 | 3.231% | 1 Day SOFR | Annual | 12563 |  | 12563 |
| USD | 200 | 08/15/2034 | 3.304% | 1 Day SOFR | Annual | 5156 |  | 5156 |
| USD | 5700 | 02/15/2035 | 3.824% | 1 Day SOFR | Annual | (64709) |  | (64709) |
| USD | 2700 | 02/15/2035 | 3.843% | 1 Day SOFR | Annual | (34101) |  | (34101) |
| USD | 2200 | 02/15/2035 | 3.743% | 1 Day SOFR | Annual | (9611) | (377) | (9234) |
| USD | 1000 | 02/15/2035 | 3.603% | 1 Day SOFR | Annual | 7316 | (74) | 7390 |
| USD | 1000 | 02/15/2035 | 3.747% | 1 Day SOFR | Annual | (4684) | (240) | (4444) |
| USD | 1350 | 03/15/2035 | 3.870% | 1 Day SOFR | Annual | (19042) | (331) | (18711) |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;589460 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1100) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590560 |

---

------

*(a)* *Security is exempt from registration under Rule 144A or Regulation S of the Securities Act of 1933. These securities are considered restricted, but liquid and may be resold in transactions exempt from registration. At August 31, 2025, the aggregate market value of these securities amounted to $22,994,408 or 7.1% of net assets.* 

*(b)* *Coupon rate adjusts periodically based upon a predetermined schedule. Stated interest rate in effect at August 31, 2025.* 

*(c)* *When-Issued or delayed delivery security.* 

*(d)* *Defaulted matured security.* 

*(e)* *Non-income producing security.* 

*(f)* *Floating Rate Security. Stated interest/floor/ceiling rate was in effect at August 31, 2025.* 

*(g)* *Variable Rate Demand Notes are instruments whose interest rates change on a specific date (such as coupon date or interest payment date) or whose interest rates vary with changes in a designated base rate (such as the prime interest rate). This instrument is payable on demand and is secured by letters of credit or other credit support agreements from major banks.* 

*(h)* *The rate shown represents the 7-day yield as of period end.* 

*(i)* *Affiliated investments.* 

*(j)* *To obtain a copy of the fund's shareholder report, please go to the Securities and Exchange Commission's website at www.sec.gov. Additionally, shareholder reports for AB funds can be obtained by calling AB at (800) 227-4618.* 

*(k)* *As of August 31, 2025, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $1,975,242 and gross unrealized depreciation of investments was $(6,388,662), resulting in net unrealized depreciation of $(4,413,420).* 

*As of August 31, 2025, the Fund's percentages of investments in municipal bonds that are insured and in insured municipal bonds that have been pre-refunded or escrowed to maturity are 5.1% and 0.0%, respectively.* 

*Glossary:* 

*AG* – *Assured Guaranty Inc.*

*BAM* – *Build American Mutual*

*CHF* – *Collegiate Housing Foundation*

*CMBS* – *Commercial Mortgage-Backed Securities*

*CME – Chicago Mercantile Exchange* 

*COP* – *Certificate of Participation*

*MUNIPSA – SIFMA Municipal Swap Index* 

*NATL* – *National Interstate Corporation*

*SOFR* – *Secured Overnight Financing Rate*

------

**AB Active ETFs, Inc.** 

**AB Tax-Aware Intermediate Municipal ETF** 

**August 31, 2025 (unaudited)** 

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP establishes a framework for measuring fair value, and a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability (including those valued based on their market values). Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund's own assumptions about the assumptions that market participants would use in pricing the asset or liability based on the best information available in the circumstances. Each investment is assigned a level based upon the observability of the inputs which are significant to the overall valuation. The three-tier hierarchy of inputs is summarized below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 - quoted prices in active markets for identical investments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates,
prepayment speeds, credit risk, etc.)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of
investments)

The fair value of debt instruments, such as bonds, and over-the-counter derivatives is generally based on market price quotations, recently executed market transactions (where observable) or industry recognized modeling techniques and are generally classified as Level 2. Pricing vendor inputs to Level 2 valuations may include quoted prices for similar investments in active markets, interest rate curves, coupon rates, currency rates, yield curves, option adjusted spreads, default rates, credit spreads and other unique security features in order to estimate the relevant cash flows which is then discounted to calculate fair values. If these inputs are unobservable and significant to the fair value, these investments will be classified as Level 3. In addition, non-agency rated investments are classified as Level 3.

Other fixed income investments, including non-U.S. government and corporate debt, are generally valued using quoted market prices, if available, which are typically impacted by current interest rates, maturity dates and any perceived credit risk of the issuer. Additionally, in the absence of quoted market prices, these inputs are used by pricing vendors to derive a valuation based upon industry or proprietary models which incorporate issuer specific data with relevant yield/spread comparisons with more widely quoted bonds with similar key characteristics. Those investments for which there are observable inputs are classified as Level 2. Where the inputs are not observable, the investments are classified as Level 3.

Valuations of mortgage-backed or other asset backed securities, by pricing vendors, are based on both proprietary and industry recognized models and discounted cash flow techniques. Significant inputs to the valuation of these instruments are value of the collateral, the rates and timing of delinquencies, the rates and timing of prepayments, and default and loss expectations, which are driven in part by housing prices for residential mortgages. Significant inputs are determined based on relative value analyses, which incorporate comparisons to instruments with similar collateral and risk profiles, including relevant indices. Mortgage and asset backed securities for which management has collected current observable data through pricing services are generally categorized within Level 2. Those investments for which current observable data has not been provided are classified as Level 3.

The following table summarizes the valuation of the Fund's investments by the above fair value hierarchy levels as of August 31, 2025:

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in Securities:** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** | **Assets:** | **Assets:** | **Assets:** | **Assets:** |
| Long-Term Municipal Bonds | $— | $294425926 | $— | $294425926 |
| Short-Term Municipal Notes |  | 26689127 |  | 26689127 |
| Commercial Mortgage-Backed Securities |  | 100698 |  | 100698 |
| Short-Term Investments | 3407409 |  |  | 3407409 |
| Total Investments in Securities | 3407409 | 321215751 |  | 324623160 |
| **Other Financial Instruments<sup>(a)</sup>:** |  |  |  |  |
| **Assets:** | **Assets:** | **Assets:** | **Assets:** | **Assets:** |
| Centrally Cleared Inflation (CPI) Swaps |  | 126683 |  | 126683 |
| Centrally Cleared Interest Rate Swaps |  | 721607 |  | 721607 |
| **Liabilities:** | **Liabilities:** | **Liabilities:** | **Liabilities:** | **Liabilities:** |
| Centrally Cleared Credit Default Swaps |  | (45282) |  | (45282) |
| Centrally Cleared Inflation (CPI) Swaps |  | (48133) |  | (48133) |
| Centrally Cleared Interest Rate Swaps |  | (132147) |  | (132147) |
| **Total** | $**3407409** | $**321838479** | $**—** | $**325245888** |

---

*<sup>(a)</sup>* *Other financial instruments include derivative instruments, such as futures, forwards and swaps. Derivative instruments are valued at the unrealized appreciation (depreciation) on the instrument. Other financial instruments may also include swaps with upfront premiums, written options and written swaptions which are valued at market value.* 

A summary of the Fund's transactions in AB mutual funds for nine months ended August 31, 2025 is as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Fund** | **Market Value<br>11/30/2024<br>(000)** | **Purchases<br>at Cost<br>(000)** | **Sales<br>Proceeds<br>(000)** | **Market Value<br>08/31/2025<br>(000)** | **Dividend<br>Income<br>(000)** |
| AB Government Money Market Portfolio | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118616 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115346 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3407 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109 |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** AB Active ETFs, Inc.

- **b. Investment Company Act file number:** 811-23799

- **c. CIK number of Registrant:** 0001496608

- **d. LEI of Registrant:** 2549006ZG5WBMZRI5P66

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

  - **Street Address 1:** ALLIANCEBERNSTEIN LP

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10001

  - **Telephone number:** 212-969-1000

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

- **a. Name of Series:** AB Tax-Aware Intermediate Municipal ETF

- **b. EDGAR series identifier (if any):** S000082569

- **c. LEI of Series:** 2549007AIWCBHH687761

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

- **a. Date of fiscal year-end:** 2025-11-30

- **b. Date as of which information is reported:** 2025-08-31

**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:** $329241491.05

**Total Liabilities:** $5507598.33

**Net Assets:** $323733892.72

**Delayed Delivery Securities:** $5429535.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -611.04000000 | **1-Year:** -8183.62000000 | **5-Year:** -44592.11000000 | **10-Year:** -120398.99000000 | **30-Year:** -37060.66000000

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

- **3-Month:** -96.21000000 | **1-Year:** -1342.56000000 | **5-Year:** -4538.32000000 | **10-Year:** -12805.96000000 | **30-Year:** -4558.90000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000245885 | 0.72%                | -0.41%               | 0.81%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2013.72                 | $1088536.30                                |
| Month 2  | $8.89                    | $-2053749.68                               |
| Month 3  | $12868.05                | $1178640.47                                |

**Designated Index Information**

- **Index Name:** Bloomberg Municipal Bond Unhedged

- **Index Identifier:** LMBITR:IND

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Public Finance Authority                                                        | PUBLIC FIN AUTH WI CHRT SCH REVENUE                                                                                                | CUSIP: 744396KH4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    500000 | PA      | $424041.05    | 0.13%             | 2060-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Orleans Aviation Board                                                      | NEW ORLEANS LA AVIATION BRD                                                                                                        | CUSIP: 64763HMM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1051683.90   | 0.32%             | 2040-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                        | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE                                                                                     | CUSIP: 650116AV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $95079.33     | 0.03%             | 2050-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                                     | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE                                                                                  | CUSIP: 56035DHK1<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2146408.20   | 0.66%             | 2054-12-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Oklahoma Turnpike Authority                                                     | OKLAHOMA ST TURNPIKE AUTH                                                                                                          | CUSIP: 679111E59<br>LEI: 549300J83EP2PBDYH615 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1028975.30   | 0.32%             | 2045-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Territory of Guam                                                               | GUAM GOVT BUSINESS PRIVILEGE TAX REVENUE                                                                                           | CUSIP: 40065NCR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $887176.70    | 0.27%             | 2042-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                 | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE                                                                        | CUSIP: 13013JFR2<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    750000 | PA      | $806669.78    | 0.25%             | 2055-02-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Maryland Department of Transportation                                  | MARYLAND ST DEPT OF TRANSPRTN                                                                                                      | CUSIP: 57421FBA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $982676.40    | 0.30%             | 2046-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Guilford NC                                                           | GUILFORD CNTY NC                                                                                                                   | CUSIP: 401784H22<br>LEI: 549300OUKUGQGH8RCL96 | Long             | DBT              | MUN               | US        |   1140000 | PA      | $1151861.13   | 0.36%             | 2033-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                     | WASHINGTON ST HSG FIN COMMISSION                                                                                                   | CUSIP: 93978UAA4<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    298341 | PA      | $279921.37    | 0.09%             | 2050-03-01      | Floating      | 3.81%                 | No            |                  2 | On Loan: No      |
| Pittsburgh Water & Sewer Authority                                              | PITTSBURGH PA WTR & SWR AUTH                                                                                                       | CUSIP: 725304VA4<br>LEI: 54930034DVH6W22T1E86 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011987.40   | 0.31%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                       | HOUSTON TX ARPT SYS REVENUE                                                                                                        | CUSIP: 442349HU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1047919.30   | 0.32%             | 2034-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Bucks County Industrial Development Authority                                   | BUCKS CNTY PA INDL DEV AUTH HOSP REVENUE                                                                                           | CUSIP: 11861MAY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $106380.03    | 0.03%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CMFA Special Finance Agency VII                                                 | CMFA SPL FIN AGY VII CA ESSENTIAL HSG REVENUE                                                                                      | CUSIP: 12574UAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $64881.19     | 0.02%             | 2056-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| City of St Cloud MN                                                             | SAINT CLOUD MN HLTH CARE REVENUE                                                                                                   | CUSIP: 78916VEH9<br>LEI: 549300IOO80ICGIWAU74 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1104032.50   | 0.34%             | 2035-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                            | CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE                                                                                       | CUSIP: 1675935S7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1085064.20   | 0.34%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                      | ILLINOIS ST FIN AUTH REVENUE                                                                                                       | CUSIP: 45203HE81<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $929610.60    | 0.29%             | 2038-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                               | SOUTHEAST ENERGY AUTHORITY A COOPERATIVE                                                                                           | CUSIP: 84136HAH6<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    750000 | PA      | $799647.45    | 0.25%             | 2055-10-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                        | Long: SS30EP8   IRS USD R F  2.56500 IS30EP8 CCPINFLATIONZERO / Short: SS30EP8   IRS USD P V 12MUSCPI IS30EQ9 CCPINFLATIONZERO     | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   2290000 | OU      | $-23867.20    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                           | MET TRANSPRTN AUTH NY REVENUE                                                                                                      | CUSIP: 59261A3J4<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    330000 | PA      | $343823.14    | 0.11%             | 2039-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Pennsylvania                                                    | PENNSYLVANIA ST                                                                                                                    | CUSIP: 70914P4H2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $182432.68    | 0.06%             | 2043-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                               | SOUTHEAST ENERGY AUTHORITY A COOPERATIVE                                                                                           | CUSIP: 84136HBC6<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    500000 | PA      | $513557.35    | 0.16%             | 2056-01-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Southern California Public Power Authority                                      | STHRN CALIFORNIA ST PUBLIC PWR AUTH STHRN TRANSMISSION SYSTE                                                                       | CUSIP: 842469BE7<br>LEI: 5493003B5TD5FWUKMD34 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1042802.70   | 0.32%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                        | Long: SS31EU6   IRS USD R F  4.08750 IS31EU6 CCPOIS / Short: SS31EU6   IRS USD P V 00MSOFR IS31EV7 CCPOIS                          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1600000 | OU      | $55700.60     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| City of Los Angeles CA                                                          | LOS ANGELES CA                                                                                                                     | CUSIP: 544351SF7<br>LEI: 549300E7TO710PTXPJ65 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1024090.50   | 0.32%             | 2026-06-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                  | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                                                                                            | CUSIP: 64613CDQ8<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $908475.20    | 0.28%             | 2044-06-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Greater Orlando Aviation Authority                                              | GTR ORLANDO FL AVIATION AUTH ARPT FACS REVENUE                                                                                     | CUSIP: 392275EW9<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |    500000 | PA      | $548473.90    | 0.17%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                    | MASSACHUSETTS ST PORT AUTH                                                                                                         | CUSIP: 575896YJ8<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1485200.25   | 0.46%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Local Government Finance Commission                                     | FLORIDA LOC GOVT FIN COMMISSION SENIOR LIVING REVENUE                                                                              | CUSIP: 34077UAM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1004322.80   | 0.31%             | 2030-11-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Chandler Industrial Development Authority                                       | CHANDLER AZ INDL DEV AUTH INDL DEV REVENUE                                                                                         | CUSIP: 158862CB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1019297.50   | 0.31%             | 2052-09-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                                     | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE                                                                                  | CUSIP: 56035DEE8<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1555000 | PA      | $1628756.92   | 0.50%             | 2052-12-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade FL                                                         | MIAMI-DADE CNTY FL SPL OBLIG                                                                                                       | CUSIP: 59333N5G4<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1018301.10   | 0.31%             | 2046-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                               | ILLINOIS ST                                                                                                                        | CUSIP: 452153KY4<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1040664.40   | 0.32%             | 2039-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                        | Long: BS2Y9Y5   IRS USD R V 00MSOFR IS2Y9Z6 CCPOIS / Short: BS2Y9Y5   IRS USD P F  3.30384 IS2Y9Y5 CCPOIS                          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    200000 | OU      | $5156.00      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Michigan Strategic Fund                                                         | MICHIGAN ST STRATEGIC FUND LTD OBLG REVENUE                                                                                        | CUSIP: 594698QU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $890458.60    | 0.28%             | 2048-06-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                              | SOUTH CAROLINA ST JOBS-ECON DEV AUTH HLTH FACS REVENUE                                                                             | CUSIP: 837032BX8<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   2095000 | PA      | $2151603.34   | 0.66%             | 2044-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority Dulles Toll Road Revenue             | MET WASHINGTON DC ARPTS AUTH DULLES TOLL ROAD REVENUE                                                                              | CUSIP: 592643BM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1275000 | PA      | $1328249.36   | 0.41%             | 2041-10-01      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                        | PUBLIC FIN AUTH WI TOLL REVENUE                                                                                                    | CUSIP: 74448UAA6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1057154.00   | 0.33%             | 2060-06-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| West Virginia Hospital Finance Authority                                        | WEST VIRGINIA ST HOSP FIN AUTH                                                                                                     | CUSIP: 956622V76<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1027991.50   | 0.32%             | 2041-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                        | MASSACHUSETTS ST DEV FIN AGY REVENUE                                                                                               | CUSIP: 57585BDX3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    460000 | PA      | $459292.61    | 0.14%             | 2043-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Central Florida Tourism Oversight District                                      | CENTRL FLORIDA TOURISM OVERSIGHT DIST                                                                                              | CUSIP: 153480AV0<br>LEI: 549300DLSKH6SZ96KV94 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031052.40   | 0.32%             | 2044-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                        | MASSACHUSETTS ST DEV FIN AGY REVENUE                                                                                               | CUSIP: 57583U6R4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $467061.10    | 0.14%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                                | KENTUCKY ST PUBLIC ENERGY AUTH GAS SPLY REVENUE                                                                                    | CUSIP: 74440DEC4<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |    200000 | PA      | $215397.34    | 0.07%             | 2054-04-01      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Bucks County Industrial Development Authority                                   | BUCKS CNTY PA INDL DEV AUTH HOSP REVENUE                                                                                           | CUSIP: 11861MBL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $80964.50     | 0.03%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority                                    | NEW YORK NY CITY TRANSITIONAL FIN AUTH REV                                                                                         | CUSIP: 64972JTD0<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1046177.00   | 0.32%             | 2045-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Chicago Midway International Airport                                            | CHICAGO IL MIDWAY ARPT REVENUE                                                                                                     | CUSIP: 167562TF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1075447.90   | 0.33%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greater Asheville Regional Airport Authority                                    | GTR ASHEVILLE REGL ARPT AUTH NC ARPT SYS REVENUE                                                                                   | CUSIP: 39160CBK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1021819.70   | 0.32%             | 2042-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| State of Illinois Sales Tax Revenue                                             | ILLINOIS ST SALES TAX REVENUE                                                                                                      | CUSIP: 452227VM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1035341.60   | 0.32%             | 2041-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Long Island Power Authority                                                     | LONG ISLAND NY PWR AUTH ELEC SYS REVENUE                                                                                           | CUSIP: 542691JX9<br>LEI: 1R46U5SYJ63KQXF39168 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1008496.90   | 0.31%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                        | Long: BS31F03   IRS USD R V 12MUSCPI IS31F14 CCPINFLATIONZERO / Short: BS31F03   IRS USD P F  2.48500 IS31F03 CCPINFLATIONZERO     | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   3000000 | OU      | $38907.03     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                                         | PORT AUTH OF NEW YORK & NEW JERSEY NY                                                                                              | CUSIP: 73358XGK2<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |    855000 | PA      | $889903.41    | 0.27%             | 2041-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Colorado Educational & Cultural Facilities Authority                            | COLORADO ST EDUCTNL & CULTURAL FACS AUTH REVENUE                                                                                   | CUSIP: 19645RNN7<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.31%             | 2041-07-01      | Floating      | 3.90%                 | No            |                  2 | On Loan: No      |
| City of Venice FL                                                               | VENICE FL                                                                                                                          | CUSIP: 922687AE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $92852.85     | 0.03%             | 2060-01-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority Aviation Revenue                     | MET WASHINGTON DC ARPTS AUTH ARPT SYS REVENUE                                                                                      | CUSIP: 592647HN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $264386.85    | 0.08%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indianapolis Local Public Improvement Bond Bank                                 | INDIANAPOLIS IN LOCAL PUBLIC IMPT BOND BANK                                                                                        | CUSIP: 45528U6X4<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |    150000 | PA      | $152410.40    | 0.05%             | 2053-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                        | Long: BS34449   IRS USD R V 00MSOFR IS34450 CCPOIS / Short: BS34449   IRS USD P F  3.74700 IS34449 CCPOIS                          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1000000 | OU      | $-4684.71     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                       | HOUSTON TX ARPT SYS REVENUE                                                                                                        | CUSIP: 442349HY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1043664.20   | 0.32%             | 2038-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Buckeye Tobacco Settlement Financing Authority                                  | BUCKEYE OH TOBACCO SETTLEMENT FING AUTH                                                                                            | CUSIP: 118217CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $807729.30    | 0.25%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arlington Higher Education Finance Corp                                         | ARLINGTON TX HGR EDU FIN CORP EDU REVENUE                                                                                          | CUSIP: 041807JX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $848709.30    | 0.26%             | 2064-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Private Colleges & Universities Authority                                       | PRIV CLGS & UNIVS AUTH GA                                                                                                          | CUSIP: 74265L2Y3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2239393.60   | 0.69%             | 2033-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                        | Long: BS346M1   IRS USD R V 00MSOFR IS346N2 CCPOIS / Short: BS346M1   IRS USD P F  3.60300 IS346M1 CCPOIS                          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1000000 | OU      | $7316.05      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Energy Southeast A Cooperative District                                         | ENERGY S E AL A COOPERATIVE DIST ENERGY SPLY REVENUE                                                                               | CUSIP: 292723BN2<br>LEI: 2549001SMMZ81MXBXZ89 | Long             | DBT              | MUN               | US        |   1460000 | PA      | $1567423.30   | 0.48%             | 2054-07-01      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| City of St Cloud MN                                                             | SAINT CLOUD MN HLTH CARE REVENUE                                                                                                   | CUSIP: 78916VEQ9<br>LEI: 549300IOO80ICGIWAU74 | Long             | DBT              | MUN               | US        |    500000 | PA      | $511307.65    | 0.16%             | 2042-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Palm Beach County Educational Facilities Authority                              | PALM BEACH CNTY FL EDUCTNL FACS AUTH                                                                                               | CUSIP: 696506AW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    255000 | PA      | $244137.61    | 0.08%             | 2048-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                            | TRIBOROUGH NY BRIDGE & TUNNEL AUTH REAL ESTATE TRANSFER TAX                                                                        | CUSIP: 896032AX7<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |    500000 | PA      | $507732.80    | 0.16%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Iowa Tobacco Settlement Authority                                               | TOBACCO SETTLEMENT AUTH IA TOBACCO SETTLEMENT REVENUE                                                                              | CUSIP: 888805CJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    965000 | PA      | $133445.51    | 0.04%             | 2065-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                            | DIST OF COLUMBIA REVENUE                                                                                                           | CUSIP: 25483VTR5<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    200000 | PA      | $202478.24    | 0.06%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Capital Projects Finance Authority/FL                                           | CAPITAL PROJS FL FIN AUTH STUDENT HSG REVENUE                                                                                      | CUSIP: 140427CN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $486226.60    | 0.15%             | 2044-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                        | Long: SS32G14   IRS USD R F  3.96650 IS32G14 CCPOIS / Short: SS32G14   IRS USD P V 00MSOFR IS32G25 CCPOIS                          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1700000 | OU      | $47423.09     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| City of New York NY                                                             | NEW YORK NY                                                                                                                        | CUSIP: 64966SJS6<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1049032.70   | 0.32%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                           | PENNSYLVANIA ST ECON DEV FING AUTH SOLID WASTE DISPOSAL REV                                                                        | CUSIP: 708692CD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $247004.28    | 0.08%             | 2047-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                           | PENNSYLVANIA ST ECON DEV FING AUTH SOLID WASTE DISPOSAL REV                                                                        | CUSIP: 708692CA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101747.76    | 0.03%             | 2051-01-01      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                 | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE                                                                        | CUSIP: 13013JFX9<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1033233.40   | 0.32%             | 2056-01-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                        | Long: BS30759   IRS USD R V 12MUSCPI IS30760 CCP INFLATION ZERO / Short: BS30759   IRS USD P F  2.45000 BS30759 CCP INFLATION ZERO | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1566000 | OU      | $22852.48     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Stamford Housing Authority                                                      | STAMFORD CT HSG AUTH                                                                                                               | CUSIP: 852640AJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $299482.02    | 0.09%             | 2045-10-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Tennessee Energy Acquisition Corp                                               | TENNESSEE ST ENERGY ACQUISITION CORP GAS REVENUE                                                                                   | CUSIP: 880443JM9<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1059655.90   | 0.33%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                 | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE                                                                        | CUSIP: 13013JEB8<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   3200000 | PA      | $3399590.72   | 1.05%             | 2055-08-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                            | CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE                                                                                       | CUSIP: 1675936A5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $258556.55    | 0.08%             | 2042-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                        | NATIONAL FIN AUTH NH SPL REVENUE                                                                                                   | CUSIP: 63608TAC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $98153.65     | 0.03%             | 2035-12-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                        | PUBLIC FIN AUTH WI REVENUE                                                                                                         | CUSIP: 74442PG58<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    100000 | PA      | $45023.92     | 0.01%             | 2038-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                        | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE                                                                                     | CUSIP: 650116AR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $236497.95    | 0.07%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                       | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE                                                                                   | CUSIP: 57421CGB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    810000 | PA      | $810000.00    | 0.25%             | 2048-06-01      | Floating      | 3.85%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                        | NATIONAL FIN AUTH NH REVENUE                                                                                                       | CUSIP: 63607YCV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010658.20   | 0.31%             | 2045-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Nash Health Care Systems                                                        | NASH HLTH CARE SYS NC HLTH CARE FACS REVENUE                                                                                       | CUSIP: 631163BP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1041464.00   | 0.32%             | 2050-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                             | WISCONSIN ST HLTH & EDUCTNL FACS AUTH REVENUE                                                                                      | CUSIP: 97710BDK5<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 0.15%             | 2033-12-01      | Floating      | 3.90%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp                                               | LIBERTY DEV CORP NY REVENUE                                                                                                        | CUSIP: 531127CM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1137622.00   | 0.35%             | 2037-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                                | FLORIDA ST DEV FIN CORP                                                                                                            | CUSIP: 340618DR5<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    350000 | PA      | $335092.24    | 0.10%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kenton County Airport Board                                                     | KENTON CNTY KY ARPT BRD                                                                                                            | CUSIP: 491026VW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1885000 | PA      | $2049234.58   | 0.63%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Transit Authority Sales Tax Receipts Fund                               | CHICAGO IL TRANSIT AUTH SALES TAX RECPTS REVENUE                                                                                   | CUSIP: 16772PEP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1535000 | PA      | $1512391.45   | 0.47%             | 2049-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Columbus Regional Airport Authority                                             | COLUMBUS OH REGL ARPT AUTH REVENUE                                                                                                 | CUSIP: 199546DC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1955000 | PA      | $2000238.50   | 0.62%             | 2050-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Town of Vail CO                                                                 | VAIL CO COPS                                                                                                                       | CUSIP: 91878DAX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3102126.90   | 0.96%             | 2064-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Massachusetts Bay Transportation Authority Sales Tax Revenue                    | MASSACHUSETTS ST BAY TRANSPRTN AUTH SALES TAX REVENUE                                                                              | CUSIP: 575579Q83<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1033228.80   | 0.32%             | 2048-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Intercontinental Exchange, Inc.                                                 | Long: BS34A07   CDS USD R V 03MEVENT IS34A18 CCPCDX / Short: BS34A07   CDS USD P F  5.00000 IS34A07 CCPCDX                         | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |    550000 | OU      | $-45281.83    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                          | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE                                                                                  | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $91447.93     | 0.03%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Authority                                                         | CAPITAL TRUST AUTH FL CHRTR SCH REVENUE                                                                                            | CUSIP: 14054YAC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $959464.78    | 0.30%             | 2054-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                 | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE                                                                        | CUSIP: 13013JFS0<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    750000 | PA      | $781998.83    | 0.24%             | 2055-11-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                       | INDIANA ST FIN AUTH STUDENT HSG REVENUE                                                                                            | CUSIP: 45471FAV3<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $876736.80    | 0.27%             | 2044-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                             | NEW YORK NY                                                                                                                        | CUSIP: 64966SPA8<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1122609.30   | 0.35%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Idaho Health Facilities Authority                                               | IDAHO ST HLTH FACS AUTH REVENUE                                                                                                    | CUSIP: 451295ZZ5<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |   1370000 | PA      | $1370000.00   | 0.42%             | 2048-03-01      | Floating      | 3.85%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                              | NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE                                                                               | CUSIP: 64990F6J8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2225000 | PA      | $2375684.79   | 0.73%             | 2039-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                                | FLORIDA ST DEV FIN CORP SOL WST DISP REVENUE                                                                                       | CUSIP: 34061XAG7<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    250000 | PA      | $248547.30    | 0.08%             | 2054-10-01      | Floating      | 4.38%                 | No            |                  2 | On Loan: No      |
| La Paz County Industrial Development Authority                                  | LA PAZ CNTY AZ INDL DEV AUTH EDU FAC LEASE REVENUE                                                                                 | CUSIP: 50376FAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $400213.32    | 0.12%             | 2036-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                            | PUERTO RICO ELEC PWR AUTH PWRREVENUE                                                                                               | CUSIP: 74526QUX8<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   1050000 | PA      | $694312.50    | 0.21%             | 2049-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                        | NATIONAL FIN AUTH NH MUNI CTFS                                                                                                     | CUSIP: 63607WAU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     99169 | PA      | $91070.22     | 0.03%             | 2039-08-20      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                        | Long: BS2Z186   IRS USD R V 00MSOFR IS2Z197 CCPOIS / Short: BS2Z186   IRS USD P F  3.23100 IS2Z186 CCPOIS                          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    400000 | OU      | $12563.40     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority Sales Tax Revenue                          | TRIBOROUGH NY BRIDGE & TUNNEL AUTH SALES TAX REVENUE                                                                               | CUSIP: 896035DE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1065000 | PA      | $1077690.54   | 0.33%             | 2054-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                         | SOUTH CAROLINA ST PUBLIC SVC AUTH REVENUE                                                                                          | CUSIP: 8371515N5<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020942.70   | 0.32%             | 2043-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                            | COLORADO ST HLTH FACS AUTH REVENUE                                                                                                 | CUSIP: 19648FSV7<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    250000 | PA      | $207887.08    | 0.06%             | 2042-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fairfax County Industrial Development Authority                                 | FAIRFAX CNTY VA INDL DEV AUTH HLTH CARE REVENUE                                                                                    | CUSIP: 30382VAT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $917757.40    | 0.28%             | 2042-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                        | Long: BS341Q0   IRS USD R V 00MSOFR IS341R1 CCPOIS / Short: BS341Q0   IRS USD P F  3.84250 IS341Q0 CCPOIS                          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   2700000 | OU      | $-34101.41    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                        | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE                                                                                     | CUSIP: 650116HV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $485826.55    | 0.15%             | 2054-12-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                        | Long: SS31TF6   IRS USD R F  4.08200 IS31TF6 CCPOIS / Short: SS31TF6   IRS USD P V 00MSOFR IS31TG7 CCPOIS                          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1300000 | OU      | $42568.53     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Indianapolis Local Public Improvement Bond Bank                                 | INDIANAPOLIS IN LOCAL PUBLIC IMPT BOND BANK                                                                                        | CUSIP: 45528U7L9<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |    100000 | PA      | $107817.23    | 0.03%             | 2067-03-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Port of Seattle WA                                                              | PORT OF SEATTLE WA REVENUE                                                                                                         | CUSIP: 7353893W6<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   1555000 | PA      | $1623163.89   | 0.50%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                         | SOUTH CAROLINA ST PUBLIC SVC AUTH REVENUE                                                                                          | CUSIP: 8371516L8<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    500000 | PA      | $507602.55    | 0.16%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington Health Care Facilities Authority                                     | WASHINGTON ST HLTH CARE FACS AUTH                                                                                                  | CUSIP: 93978HXH3<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $985121.70    | 0.30%             | 2045-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Pier & Exposition Authority                                        | MET PIER & EXPOSITION AUTH IL REVENUE                                                                                              | CUSIP: 592250DM3<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $957007.70    | 0.30%             | 2050-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                                | KENTUCKY ST PUBLIC ENERGY AUTH GAS SPLY REVENUE                                                                                    | CUSIP: 74440DEL4<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |    500000 | PA      | $528526.80    | 0.16%             | 2055-05-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority Dulles Toll Road Revenue             | MET WASHINGTON DC ARPTS AUTH DULLES TOLL ROAD REVENUE                                                                              | CUSIP: 592643BQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1047762.50   | 0.32%             | 2044-10-01      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| Colorado Educational & Cultural Facilities Authority                            | COLORADO ST EDUCTNL & CULTURAL FACS AUTH REVENUE                                                                                   | CUSIP: 19645RPQ8<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |    350000 | PA      | $350000.00    | 0.11%             | 2039-01-01      | Floating      | 3.95%                 | No            |                  2 | On Loan: No      |
| Kenton County Airport Board                                                     | KENTON CNTY KY ARPT BRD                                                                                                            | CUSIP: 491026WH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $357038.15    | 0.11%             | 2044-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                                                                                          | CUSIP: 13032UU71<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $985799.90    | 0.30%             | 2044-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                        | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE                                                                                     | CUSIP: 650116FR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $992901.10    | 0.31%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp                                                         | BUILD NYC RESOURCE CORP NY REVENUE                                                                                                 | CUSIP: 12008ETQ9<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    555000 | PA      | $596520.99    | 0.18%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pocono Mountains Industrial Park Authority                                      | POCONO MOUNTAINS PA INDL PARK AUTH HOSP REVENUE                                                                                    | CUSIP: 73043PAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1140000 | PA      | $1140089.26   | 0.35%             | 2040-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas Municipal Gas Acquisition and Supply Corp II                              | TEXAS ST MUNI GAS ACQUISITION & SPLY CORP II GAS SPLY REVENU                                                                       | CUSIP: 88255QAC3<br>LEI: 8E22IH4TQD26WYDGHB25 | Long             | DBT              | MUN               | US        |    715000 | PA      | $717763.33    | 0.22%             | 2027-09-15      | Floating      | 3.94%                 | No            |                  2 | On Loan: No      |
| Columbus Regional Airport Authority                                             | COLUMBUS OH REGL ARPT AUTH REVENUE                                                                                                 | CUSIP: 199546CY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1849330.62   | 0.57%             | 2042-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                        | NATIONAL FIN AUTH NH SPL REVENUE                                                                                                   | CUSIP: 63608TAR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100979.38    | 0.03%             | 2030-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                                         | PORT AUTH OF NEW YORK & NEW JERSEY NY                                                                                              | CUSIP: 73358W5N0<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |    900000 | PA      | $875605.05    | 0.27%             | 2037-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                     | WASHINGTON ST HSG FIN COMMISSION                                                                                                   | CUSIP: 93978UDT0<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $917896.10    | 0.28%             | 2041-11-20      | Floating      | 4.08%                 | No            |                  2 | On Loan: No      |
| City of Hoboken NJ                                                              | HOBOKEN NJ                                                                                                                         | CUSIP: 434110XP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007325.10   | 0.31%             | 2026-03-10      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Savannah Economic Development Authority                                         | SAVANNAH GA ECON DEV AUTH                                                                                                          | CUSIP: 80483CQG9<br>LEI: 549300Q7LO1N6BCXOD30 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $969383.80    | 0.30%             | 2038-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Montgomery OH                                                         | MONTGOMERY CNTY OH HOSP REVENUE                                                                                                    | CUSIP: 613520LQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3280000 | PA      | $3280000.00   | 1.01%             | 2045-11-15      | Floating      | 3.85%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                      | CHICAGO IL BRD OF EDU                                                                                                              | CUSIP: 167505RM0<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1024360.00   | 0.32%             | 2046-12-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Town of Oyster Bay NY                                                           | OYSTER BAY NY                                                                                                                      | CUSIP: 692160VE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1120000 | PA      | $1135483.22   | 0.35%             | 2026-08-21      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                  | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE                                                                                  | CUSIP: 09182TBL0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1043357.50   | 0.32%             | 2053-05-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Federal Way WA                                                          | FEDERAL WAY WA                                                                                                                     | CUSIP: 314031JN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020602.10   | 0.32%             | 2049-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                  | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE                                                                                  | CUSIP: 09182TEC7<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2928489.58   | 0.90%             | 2055-10-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                        | Long: BS331T0   IRS USD R V 00MSOFR IS331U1 CCPOIS / Short: BS331T0   IRS USD P F  3.87000 IS331T0 CCPOIS                          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1350000 | OU      | $-19041.47    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Onondaga Civic Development Corp                                                 | ONONDAGA NY CIVIC DEV CORP                                                                                                         | CUSIP: 682832LL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1054670.40   | 0.33%             | 2056-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                      | CHICAGO IL BRD OF EDU                                                                                                              | CUSIP: 167505ZA7<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    100000 | PA      | $101586.37    | 0.03%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Reno-Tahoe Airport Authority                                                    | RENO-TAHOE NV ARPT AUTH ARPT REVENUE                                                                                               | CUSIP: 759874CJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $302266.56    | 0.09%             | 2044-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Colorado State Education Loan Program                                           | COLORADO ST EDUC LOAN PROGRAM                                                                                                      | CUSIP: 19672MDG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1173853.30   | 0.36%             | 2026-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oklahoma Turnpike Authority                                                     | OKLAHOMA ST TURNPIKE AUTH                                                                                                          | CUSIP: 679111F74<br>LEI: 549300J83EP2PBDYH615 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1072616.50   | 0.33%             | 2040-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                        | Long: BS2ZLG4   IRS USD R V 00MSOFR IS2ZLH5 CCPOIS / Short: BS2ZLG4   IRS USD P F  3.31400 IS2ZLG4 CCPOIS                          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    700000 | OU      | $17496.45     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Metropolitan Pier & Exposition Authority                                        | MET PIER & EXPOSITION AUTH IL DEDICATED ST TAX REVENUE                                                                             | CUSIP: 592247K66<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |    150000 | PA      | $100537.31    | 0.03%             | 2035-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                                     | VIRGINIA ST SMALL BUSINESS FING AUTH RSDL FAC CARE REVENUE                                                                         | CUSIP: 928103AX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $906203.90    | 0.28%             | 2044-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Massachusetts Bay Transportation Authority Sales Tax Revenue                    | MASSACHUSETTS ST BAY TRANSPRTN AUTH SALES TAX REVENUE                                                                              | CUSIP: 5755792J5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1037219.60   | 0.32%             | 2055-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Utah Infrastructure Agency                                                      | UTAH INFRASTRUCTURE AGY TELECOMUNICATION REVENUE                                                                                   | CUSIP: 917467DB5<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |    500000 | PA      | $512982.20    | 0.16%             | 2044-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Lauderdale County Agriculture Center Authority                                  | LAUDERDALE CNTY AL AGRICULTURE CENTER AUTH SPL TAX                                                                                 | CUSIP: 518481CA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020840.30   | 0.32%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Palm Beach County Health Facilities Authority                                   | PALM BEACH CNTY FL HLTH FACS AUTH HOSP REVENUE                                                                                     | CUSIP: 69651ABW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $724296.79    | 0.22%             | 2036-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                      | ILLINOIS FIN AUTH SURFACE FREIGHT TRANSFER FACS REVENUE                                                                            | CUSIP: 45203PAC8<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000686.00   | 0.31%             | 2043-12-01      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                  | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE                                                                                  | CUSIP: 09182TAW7<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1099188.09   | 0.34%             | 2052-12-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Hawaii Airports System Revenue                                         | HAWAII ST ARPTS SYS REVENUE                                                                                                        | CUSIP: 419794H54<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $984532.90    | 0.30%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Municipal Electric Authority of Georgia                                         | MUNI ELEC AUTH OF GEORGIA                                                                                                          | CUSIP: 626207Z72<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    700000 | PA      | $681440.90    | 0.21%             | 2063-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                        | ARIZONA ST INDL DEV AUTH NATIONAL CHRT SCH REVOLVING LOAN FD                                                                       | CUSIP: 04052FFE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $952118.70    | 0.29%             | 2049-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                             | CALIFORNIA ST                                                                                                                      | CUSIP: 13063EDM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $210186.34    | 0.06%             | 2044-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas Private Activity Bond Surface Transportation Corp                         | TEXAS ST PRIV ACTIVITY BOND SURFACE TRANSPRTN CORP REVENUE                                                                         | CUSIP: 882667AN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $93005.72     | 0.03%             | 2058-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                        | Long: SS31F25   IRS USD R F  4.09150 IS31F25 CCPOIS / Short: SS31F25   IRS USD P V 00MSOFR IS31F36 CCPOIS                          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    800000 | OU      | $26432.74     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Vancouver Housing Authority                                                     | VANCOUVER WA HSG AUTH                                                                                                              | CUSIP: 921626PU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1944658.60   | 0.60%             | 2038-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                        | NATIONAL FIN AUTH NH AFFORDABLE HSG CTFS                                                                                           | CUSIP: 63607DAE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    999673 | PA      | $998761.60    | 0.31%             | 2041-06-20      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| Mid-Bay Bridge Authority                                                        | FLORIDA ST MID-BAY BRIDGE AUTH                                                                                                     | CUSIP: 342814DF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001763.90   | 0.31%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Tampa FL                                                                | TAMPA FL HOSP REVENUE                                                                                                              | CUSIP: 875161CZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $350676.64    | 0.11%             | 2038-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Hampton Roads Sanitation District                                               | HAMPTON ROADS VA SANTN DIST WSTWTR REVENUE                                                                                         | CUSIP: 409327MW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020759.00   | 0.32%             | 2026-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                   | MASSACHUSETTS ST                                                                                                                   | CUSIP: 57582TCM2<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1039997.80   | 0.32%             | 2044-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                 | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE                                                                        | CUSIP: 13013JCS3<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    250000 | PA      | $264916.30    | 0.08%             | 2054-05-01      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                        | ARIZONA ST INDL DEV AUTH NATIONAL CHRT SCH REVOLVING LOAN FD                                                                       | CUSIP: 04052FFD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $145731.95    | 0.05%             | 2044-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tahoe-Douglas Visitors Authority                                                | TAHOE-DOUGLAS VISITORS AUTH NV STATELINE REVENUE                                                                                   | CUSIP: 873816AL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $244642.26    | 0.08%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                        | PUBLIC FIN AUTH WI EDUCTNL FAC REVENUE                                                                                             | CUSIP: 74443DHH7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $940752.60    | 0.29%             | 2047-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| West Virginia Hospital Finance Authority                                        | WEST VIRGINIA ST HOSP FIN AUTH                                                                                                     | CUSIP: 956622P40<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $600000.00    | 0.19%             | 2034-06-01      | Floating      | 2.73%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                        | Long: SS30FB1   IRS USD R F  2.53125 IS30FB1 CCPINFLATIONZERO / Short: SS30FB1   IRS USD P V 12MUSCPI IS30FC2 CCPINFLATIONZERO     | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   2410000 | OU      | $-24265.69    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                                         | PORT AUTH OF NEW YORK & NEW JERSEY NY                                                                                              | CUSIP: 73358XGM8<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   1285000 | PA      | $1299418.86   | 0.40%             | 2047-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| University of Massachusetts Building Authority                                  | UNIV OF MASSACHUSETTS MA BLDGAUTH PROJ REVENUE                                                                                     | CUSIP: 914440QV7<br>LEI: 6ILE2573NPR1XO2TR556 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2029009.60   | 0.63%             | 2042-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Quincy MA                                                               | QUINCY MA                                                                                                                          | CUSIP: 748508H43<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1019812.20   | 0.32%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                    | MASSACHUSETTS ST PORT AUTH                                                                                                         | CUSIP: 575896YE9<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |    975000 | PA      | $1008760.94   | 0.31%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                        | Long: SS34364   IRS USD R F  3.65950 IS34364 CCPOIS / Short: SS34364   IRS USD P V 00MSOFR IS34375 CCPOIS                          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  13100000 | OU      | $126863.30    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                        | Long: SS2VUP4   IRS USD R F  4.14950 IS2VUP4 CCPOIS / Short: SS2VUP4   IRS USD P V 00MSOFR IS2VUQ5 CCPOIS                          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1950000 | OU      | $75392.20     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Orange County Health Facilities Authority                                       | ORANGE CNTY FL HLTH FACS AUTH REVENUE                                                                                              | CUSIP: 68450LJL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $507369.70    | 0.16%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                        | Long: SS31945   IRS USD R F  3.89800 IS31945 CCPOIS / Short: SS31945   IRS USD P V 00MSOFR IS31956 CCPOIS                          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    700000 | OU      | $15885.98     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Port of Seattle WA                                                              | PORT OF SEATTLE WA REVENUE                                                                                                         | CUSIP: 7353892S6<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1014318.60   | 0.31%             | 2049-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Port of Beaumont Industrial Development Authority                               | PORT BEAUMONT TX INDL DEV AUTH                                                                                                     | CUSIP: 73358SAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $893648.50    | 0.28%             | 2028-01-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                            | PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE                                                                                      | CUSIP: 70917TRU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1272716.50   | 0.39%             | 2048-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City & County of Denver CO Airport System Revenue                               | DENVER CITY & CNTY CO ARPT REVENUE                                                                                                 | CUSIP: 249182QV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $986997.10    | 0.30%             | 2047-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fayette County Development Authority                                            | FAYETTE CNTY GA DEV AUTH REVENUE                                                                                                   | CUSIP: 31222PAU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1140000 | PA      | $1145870.09   | 0.35%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Jefferson County Port Authority/OH                                              | JEFFERSON CNTY OH PORT AUTH ECECON DEV REVENUE                                                                                     | CUSIP: 473318AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $72015.00     | 0.02%             | 2051-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| City of New Orleans LA                                                          | NEW ORLEANS LA                                                                                                                     | CUSIP: 64763FG94<br>LEI: 54930084B6KHR5PR2651 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1021895.80   | 0.32%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                             | WISCONSIN HLTH EDL FACS AUTH SENIOR LIVING REVENUE                                                                                 | CUSIP: 97671VCS2<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1017403.20   | 0.31%             | 2045-07-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                        | ARIZONA ST INDL DEV AUTH SENIOR LIVING REVENUE                                                                                     | CUSIP: 04052TDL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $968755.10    | 0.30%             | 2055-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Savannah Hospital Authority                                                     | SAVANNAH GA HOSP AUTH                                                                                                              | CUSIP: 804833FC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $463899.70    | 0.14%             | 2039-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Illinois State Toll Highway Authority                                           | ILLINOIS ST TOLL HIGHWAY AUTH                                                                                                      | CUSIP: 452252MT3<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |   2245000 | PA      | $2252873.66   | 0.70%             | 2042-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                          | CALIFORNIA ST MUNI FIN AUTH STUDENT HSG REVENUE                                                                                    | CUSIP: 13049YDP3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    500000 | PA      | $524637.55    | 0.16%             | 2033-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Plains Energy Project                                                   | CENTRL PLAINS ENERGY PROJ NE GAS PROJ REVENUE                                                                                      | CUSIP: 154871CW5<br>LEI: SVQOT7V5CPLIGNP5BE29 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1058524.90   | 0.33%             | 2054-05-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                  | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE                                                                                  | CUSIP: 09182TEN3<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2371620.83   | 0.73%             | 2055-03-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power                                         | LOS ANGELES CA DEPT WTR & PWR REVENUE                                                                                              | CUSIP: 544495V84<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   3100000 | PA      | $3107736.98   | 0.96%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Center City MN                                                          | CENTER CITY MN HLTH CARE FACSREVENUE                                                                                               | CUSIP: 151452CQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $160494.32    | 0.05%             | 2044-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City & County of Denver CO Airport System Revenue                               | DENVER CITY & CNTY CO ARPT REVENUE                                                                                                 | CUSIP: 249182TM8<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   1315000 | PA      | $1377209.89   | 0.43%             | 2045-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Capital Projects Finance Authority/FL                                           | CAPITAL PROJS FIN AUTH FL EDUCTNL FACS REVENUE                                                                                     | CUSIP: 14043FAK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $151532.85    | 0.05%             | 2034-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                        | Long: BS34BQ0   IRS USD R V 00MSOFR IS34BR1 CCPOIS / Short: BS34BQ0   IRS USD P F  3.82400 IS34BQ0 CCPOIS                          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   5700000 | OU      | $-64709.35    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Port of Seattle WA                                                              | PORT OF SEATTLE WA REVENUE                                                                                                         | CUSIP: 735389J33<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $986231.60    | 0.30%             | 2044-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Louisiana Gasoline & Fuels Tax Revenue                                 | LOUISIANA ST GAS & FUELS TAX REVENUE                                                                                               | CUSIP: 546475WN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $213769.24    | 0.07%             | 2039-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                 | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE                                                                        | CUSIP: 13013JFW1<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    500000 | PA      | $543512.85    | 0.17%             | 2056-01-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                        | Long: BS309H5   IRS USD R V 12MUSCPI IS309I6 CCPINFLATIONZERO / Short: BS309H5   IRS USD P F  2.51600 IS309H5 CCPINFLATIONZERO     | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1568000 | OU      | $17993.68     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| State of Maryland Department of Transportation                                  | MARYLAND ST DEPT OF TRANSPRTN                                                                                                      | CUSIP: 57421FBU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1030235.60   | 0.32%             | 2043-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                           | PENNSYLVANIA ST ECON DEV FING AUTH T/E PRIVATE ACTIVITY REV                                                                        | CUSIP: 70868YAY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1027915.40   | 0.32%             | 2061-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Green Lake Township Economic Development Corp                                   | GREEN LAKE TWP MI ECON DEV CORP                                                                                                    | CUSIP: 393096AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $700000.00    | 0.22%             | 2034-06-01      | Floating      | 3.95%                 | No            |                  2 | On Loan: No      |
| County of Jefferson AL Sewer Revenue                                            | JEFFERSON CNTY AL SWR REVENUE WARRANTS                                                                                             | CUSIP: 472682ZP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101647.98    | 0.03%             | 2044-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Colorado Educational & Cultural Facilities Authority                            | COLORADO EDUCTNL & CULTURAL AUTH REVENUE                                                                                           | CUSIP: 19645URF3<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |    100000 | PA      | $95434.39     | 0.03%             | 2044-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City & County Honolulu HI Wastewater System Revenue                             | HONOLULU CITY & CNTY HI WSTWTR SYS REVENUE                                                                                         | CUSIP: 4387012C7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $170294.70    | 0.05%             | 2045-07-01      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                      | CHICAGO IL BRD OF EDU                                                                                                              | CUSIP: 167505ZG4<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1324284.26   | 0.41%             | 2049-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Finance Authority of Maine                                                      | MAINE ST FIN AUTH SOL WST DISP REVENUE                                                                                             | CUSIP: 56042CAY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $969089.80    | 0.30%             | 2047-12-01      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                        | ARIZONA INDL DEV AUTH HOSP REVENUE                                                                                                 | CUSIP: 04052EAC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $260000.00    | 0.08%             | 2048-02-01      | Floating      | 3.90%                 | No            |                  2 | On Loan: No      |
| Antonio B Won Pat International Airport Authority                               | GUAM INTERNATIONAL ARPT AUTH                                                                                                       | CUSIP: 40064RFW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    385000 | PA      | $395557.32    | 0.12%             | 2040-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                        | Long: SS33TV8   IRS USD R F  3.82550 IS33TV8 CCPOIS / Short: SS33TV8   IRS USD P V 00MSOFR IS33TW9 CCPOIS                          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   2980000 | OU      | $58890.62     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| County of Miami-Dade Seaport Department                                         | MIAMI-DADE CNTY FL SEAPORT REVENUE                                                                                                 | CUSIP: 59335KES2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1035000 | PA      | $1098323.16   | 0.34%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                               | ILLINOIS ST                                                                                                                        | CUSIP: 452153FL8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1019133.50   | 0.31%             | 2047-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| School Board of Miami-Dade County/The                                           | MIAMI-DADE CNTY FL SCH BRD COPS                                                                                                    | CUSIP: 59333MW68<br>LEI: 549300J3U4QVT6U3O129 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1015513.90   | 0.31%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ohio Higher Educational Facility Commission                                     | OHIO ST HGR EDUCTNL FAC COMMISSION                                                                                                 | CUSIP: 67756DX84<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |   1140000 | PA      | $1193528.59   | 0.37%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                       | INDIANA ST FIN AUTH HLTH FAC REVENUE                                                                                               | CUSIP: 45471CCR7<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    100000 | PA      | $99090.61     | 0.03%             | 2054-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Hawaii Airports System Revenue                                         | HAWAII ST ARPTS SYS REVENUE                                                                                                        | CUSIP: 419794K92<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1016723.60   | 0.31%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                        | NATIONAL FIN AUTH NH SPL REVENUE                                                                                                   | CUSIP: 63608TAB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    944000 | PA      | $943557.17    | 0.29%             | 2035-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Virginia Beach Development Authority                                            | VIRGINIA BEACH VA DEV AUTH RSDL CARE FAC REVENUE                                                                                   | CUSIP: 92774NBC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $107780.46    | 0.03%             | 2059-09-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                            | TRIBOROUGH NY BRIDGE & TUNNEL AUTH PAYROLL MOBILITY TAX                                                                            | CUSIP: 89602HHY6<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1066964.90   | 0.33%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                       | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE                                                                                   | CUSIP: 574217V28<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $600000.00    | 0.19%             | 2041-07-01      | Floating      | 3.90%                 | No            |                  2 | On Loan: No      |
| City & County of Denver CO Airport System Revenue                               | DENVER CITY & CNTY CO ARPT REVENUE                                                                                                 | CUSIP: 249182LJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $433640.24    | 0.13%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Palm Beach FL Airport System Revenue                                  | PALM BEACH CNTY FL ARPT SYS REVENUE                                                                                                | CUSIP: 696499FS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $308941.74    | 0.10%             | 2042-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Town of Oyster Bay NY                                                           | OYSTER BAY NY                                                                                                                      | CUSIP: 692160VD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007111.10   | 0.31%             | 2026-03-06      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Aledo Independent School District                                               | ALEDO TX INDEP SCH DIST                                                                                                            | CUSIP: 014464ZF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1035255.90   | 0.32%             | 2042-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                        | Long: SS32937   IRS USD R F  4.21200 IS32937 CCPOIS / Short: SS32937   IRS USD P V 00MSOFR IS32948 CCPOIS                          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1700000 | OU      | $72990.05     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                                     | VIRGINIA ST SMALL BUSINESS FING AUTH REVENUE                                                                                       | CUSIP: 928104PV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $885039.70    | 0.27%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                                | KENTUCKY ST PUBLIC ENERGY AUTH GAS SPLY REVENUE                                                                                    | CUSIP: 74440DFC3<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   1155000 | PA      | $1230772.39   | 0.38%             | 2055-01-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Pennsylvania                                                    | PENNSYLVANIA ST                                                                                                                    | CUSIP: 70914PZ88<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.31%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                        | NATIONAL FIN AUTH LEASE REVENUE                                                                                                    | CUSIP: 63610FBM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    960000 | PA      | $884751.36    | 0.27%             | 2053-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Pittsburgh Water & Sewer Authority                                              | PITTSBURGH PA WTR & SWR AUTH                                                                                                       | CUSIP: 725304TT6<br>LEI: 54930034DVH6W22T1E86 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.31%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Monroe County Industrial Development Corp/NY                                    | MONROE CNTY NY INDL DEV CORP REVENUE                                                                                               | CUSIP: 61075TXU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $132760.76    | 0.04%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                  | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                                                                                            | CUSIP: 646136EW7<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    100000 | PA      | $74509.75     | 0.02%             | 2033-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Brevard County Health Facilities Authority                                      | BREVARD CNTY FL HLTH FACS AUTH REVENUE                                                                                             | CUSIP: 107416QL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1359869.04   | 0.42%             | 2042-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                              | SOUTH CAROLINA ST JOBS-ECON DEV AUTH HOSP FACS REVENUE                                                                             | CUSIP: 83703EMR3<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $971698.60    | 0.30%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corp                                               | TOBACCO SETTLEMENT FING CORP NJ                                                                                                    | CUSIP: 888808HT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    940000 | PA      | $903414.54    | 0.28%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port of Portland OR Airport Revenue                                             | PORT OF PORTLAND OR ARPT REVENUE                                                                                                   | CUSIP: 7352402R3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $425236.05    | 0.13%             | 2047-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                        | PUBLIC FIN AUTH WI TOLL REVENUE                                                                                                    | CUSIP: 74448UAB4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1875000 | PA      | $1836174.19   | 0.57%             | 2060-06-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                              | SOUTH CAROLINA ST JOBS-ECON DEV AUTH HLTH FACS REVENUE                                                                             | CUSIP: 837032BR1<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1056295.80   | 0.33%             | 2038-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois Sales Tax Revenue                                             | ILLINOIS ST SALES TAX REVENUE                                                                                                      | CUSIP: 452227VL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1047371.30   | 0.32%             | 2040-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                       | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE                                                                                   | CUSIP: 57421CGC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $450000.00    | 0.14%             | 2046-06-01      | Floating      | 3.85%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                             | WISCONSIN HLTH EDL FACS AUTH SENIOR LIVING REVENUE                                                                                 | CUSIP: 97671VCM5<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |     95000 | PA      | $95313.21     | 0.03%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City & County of Denver CO Airport System Revenue                               | DENVER CITY & CNTY CO ARPT REVENUE                                                                                                 | CUSIP: 249182LE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    305000 | PA      | $319128.88    | 0.10%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Nashville Airport Authority/The                                    | MET NASHVILLE TN ARPT AUTH ARPT REVENUE                                                                                            | CUSIP: 592190QW5<br>LEI: 549300IC0HNF8TDXEE63 | Long             | DBT              | MUN               | US        |    465000 | PA      | $487486.33    | 0.15%             | 2041-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                            | CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE                                                                                       | CUSIP: 1675934G4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $528808.55    | 0.16%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Woodbury MN                                                             | WOODBURY MN CHRT SCH LEASE REVENUE                                                                                                 | CUSIP: 979134AZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $448463.55    | 0.14%             | 2055-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Shelby County Health & Educational Facilities Board                             | SHELBY CNTY TENN HEALTH EDL & HSG FAC BRD STUDENT HSG REVENU                                                                       | CUSIP: 82170LAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $89990.96     | 0.03%             | 2056-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Berkeley County School District                                                 | BERKELEY CNTY SC SCH DIST                                                                                                          | CUSIP: 084203XN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1018024.80   | 0.31%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                            | DIST OF COLUMBIA TAX INCR REVENUE                                                                                                  | CUSIP: 254840EC1<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005059.70   | 0.31%             | 2034-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Guam Power Authority                                                            | GUAM PWR AUTH REVENUE                                                                                                              | CUSIP: 400653JE2<br>LEI: 549300IPOV320QCKW060 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020807.20   | 0.32%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                      | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                                                                                          | CUSIP: 544445E70<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2131941.80   | 0.66%             | 2038-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Quincy MA                                                               | QUINCY MA                                                                                                                          | CUSIP: 748508Y93<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1022351.80   | 0.32%             | 2026-07-24      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Texas Turnpike System                                                   | TEXAS ST TRANSPRTN COMMISSION CENTRAL TX TURNPIKE SYS REVENU                                                                       | CUSIP: 88283KCD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $106163.52    | 0.03%             | 2038-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Oklahoma/The                                                      | UNIV OK REVENUES                                                                                                                   | CUSIP: 91476PZR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    890000 | PA      | $909702.20    | 0.28%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Jefferson AL Sewer Revenue                                            | JEFFERSON CNTY AL SWR REVENUE WARRANTS                                                                                             | CUSIP: 472682ZK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $262141.58    | 0.08%             | 2040-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Maricopa County Industrial Development Authority                                | MARICOPA CNTY AZ INDL DEV AUTH HOSP REVENUE                                                                                        | CUSIP: 56678PAS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $225406.83    | 0.07%             | 2042-09-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Henrico County Economic Development Authority                                   | HENRICO CNTY VA ECON DEV AUTH HLTH FACS REVENUE                                                                                    | CUSIP: 42605XAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $993230.50    | 0.31%             | 2048-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                      | ILLINOIS FIN AUTH SURFACE FREIGHT TRANSFER FACS REVENUE                                                                            | CUSIP: 45203PAA2<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    100000 | PA      | $96069.44     | 0.03%             | 2043-12-01      | Floating      | 4.12%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                      | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                                                                                          | CUSIP: 5444453A5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $512979.70    | 0.16%             | 2045-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority Aviation Revenue                     | MET WASHINGTON DC ARPTS AUTH ARPT SYS REVENUE                                                                                      | CUSIP: 592647LC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    345000 | PA      | $377993.90    | 0.12%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southern California Public Power Authority                                      | STHRN CALIFORNIA ST PUBLIC PWR AUTH STHRN TRANSMISSION SYSTE                                                                       | CUSIP: 842469AK4<br>LEI: 5493003B5TD5FWUKMD34 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1109456.30   | 0.34%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kenton County Airport Board                                                     | KENTON CNTY KY ARPT BRD                                                                                                            | CUSIP: 491026VY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1095000 | PA      | $1178322.82   | 0.36%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Higher Educational Facilities Financing Authority                       | FLORIDA ST HGR EDUCTNL FACS FINANCIAL AUTH REVENUE                                                                                 | CUSIP: 34073TNE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $157611.04    | 0.05%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                     | PUERTO RICO CMWLTH                                                                                                                 | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    165714 | PA      | $103985.72    | 0.03%             | 2043-11-01      | Variable      | 1.00%                 | No            |                  2 | On Loan: No      |
| Bristol Industrial Development Board                                            | BRISTOL TN INDL DEV BRD ST SALES TAX REVENUE                                                                                       | CUSIP: 11023PAM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $70405.01     | 0.02%             | 2031-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Capital Projects Finance Authority/FL                                           | CAPITAL PROJS FL FIN AUTH STUDENT HSG REVENUE                                                                                      | CUSIP: 140427CR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $895257.70    | 0.28%             | 2058-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia Income Tax Revenue                                         | DIST OF COLUMBIA INCOME TAX SECURED REVENUE                                                                                        | CUSIP: 25477GYL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031429.90   | 0.32%             | 2044-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                                     | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE                                                                                  | CUSIP: 56035DHZ8<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1065496.30   | 0.33%             | 2054-04-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Government of Nashville & Davidson County TN                       | MET GOVT NASHVILLE & DAVIDSON CNTY TN                                                                                              | CUSIP: 592112XX9<br>LEI: 549300GW8FVQJ3DU6O10 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1365408.15   | 0.42%             | 2044-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Board of Regents of the University of Texas System                              | UNIV OF TEXAS TX UNIV REVENUES                                                                                                     | CUSIP: 91514AJV8<br>LEI: TEHUYFNKZR6XVWLGEU86 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1042757.30   | 0.32%             | 2049-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greater Orlando Aviation Authority                                              | GTR ORLANDO FL AVIATION AUTH ARPT FACS REVENUE                                                                                     | CUSIP: 392275EG4<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |   1095000 | PA      | $1157439.97   | 0.36%             | 2040-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                        | MASSACHUSETTS ST DEV FIN AGY REVENUE                                                                                               | CUSIP: 57584XU74<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $499292.40    | 0.15%             | 2040-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles CA Wastewater System Revenue                                | LOS ANGELES CA WSTWTR SYS REVENUE                                                                                                  | CUSIP: 53945CMD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1018143.00   | 0.31%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Housing Agency                                             | CALIFORNIA CMNTY HSG AGY ESSENTIAL HSG REVENUE                                                                                     | CUSIP: 13013FAL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $76871.22     | 0.02%             | 2056-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia PA Water & Wastewater Revenue                              | PHILADELPHIA PA WTR & WSTWTR REVENUE                                                                                               | CUSIP: 7178933W9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1033587.80   | 0.32%             | 2049-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Lancaster Port Authority                                                        | LANCASTER OH PORT AUTH GAS REVENUE                                                                                                 | CUSIP: 514401BN7<br>LEI: 5493007EGWLFDZJFF129 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1062974.10   | 0.33%             | 2055-02-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia Gas Works Co                                                       | PHILADELPHIA PA GAS WKS REVENUE                                                                                                    | CUSIP: 71783MCP8<br>LEI: 549300H8UJ7V5WU5IA90 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1104759.90   | 0.34%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                        | NATIONAL FIN AUTH NH MF AFFORDABLE HSG                                                                                             | CUSIP: 63610CAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1012530.10   | 0.31%             | 2042-04-28      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Village Community Development District No 15                                    | VILLAGE CDD NO 15 SPL ASSMNT REVENUE                                                                                               | CUSIP: 92708KAH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $233453.55    | 0.07%             | 2039-05-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| School Board of Miami-Dade County/The                                           | MIAMI-DADE CNTY FL SCH DIST                                                                                                        | CUSIP: 59333RLV4<br>LEI: 549300J3U4QVT6U3O129 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1004627.80   | 0.31%             | 2026-01-07      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                      | CHICAGO IL BRD OF EDU                                                                                                              | CUSIP: 167505XM3<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    120000 | PA      | $119054.78    | 0.04%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                              | SOUTH CAROLINA ST JOBS-ECON DEV AUTH HLTHCARE REVENUE                                                                              | CUSIP: 83704HAL1<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    395000 | PA      | $386331.21    | 0.12%             | 2044-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Parish of St John the Baptist LA                                                | SAINT JOHN THE BAPTIST PARISH LA REVENUE                                                                                           | CUSIP: 79020FBB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $504336.40    | 0.16%             | 2037-06-01      | Floating      | 3.30%                 | No            |                  2 | On Loan: No      |
| Hidalgo County Regional Mobility Authority                                      | HIDALGO CNTY TX REGL MOBILITY AUTH TOLL & VEHICLE REGISTRATI                                                                       | CUSIP: 42934ABP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $304790.97    | 0.09%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Public Finance Authority                                             | CALIFORNIA PUBLIC FIN AUTH SENIOR LIVING REVENUE                                                                                   | CUSIP: 13057GAX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $977498.60    | 0.30%             | 2055-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority Dedicated Tax Fund                        | MET TRANSPRTN AUTH NY DEDICATED TAX FUND                                                                                           | CUSIP: 59259N8Q9<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    570000 | PA      | $570000.00    | 0.18%             | 2031-11-01      | Floating      | 3.90%                 | No            |                  2 | On Loan: No      |
| Arlington Higher Education Finance Corp                                         | ARLINGTON TX HGR EDU FIN CORP EDU REVENUE                                                                                          | CUSIP: 041807PR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1056535.70   | 0.33%             | 2030-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Economic Development Corp                                              | MARYLAND ST ECON DEV CORP PRIV ACTIVITY REVENUE                                                                                    | CUSIP: 57422JBY3<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |   1070000 | PA      | $1035112.33   | 0.32%             | 2047-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Orangeburg County School District                                               | ORANGEBURG CNTY SCH DIST                                                                                                           | CUSIP: 685363AC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1022851.90   | 0.32%             | 2026-08-13      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                        | Long: SS31X32   IRS USD R F  4.14600 IS31X32 CCPOIS / Short: SS31X32   IRS USD P V 00MSOFR IS31X43 CCPOIS                          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1190000 | OU      | $46092.86     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                         | SOUTH CAROLINA ST PUBLIC SVC AUTH REVENUE                                                                                          | CUSIP: 837151XY0<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $997225.30    | 0.31%             | 2035-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                        | Long: SS33VZ6   IRS USD R F  3.77550 IS33VZ6 CCPOIS / Short: SS33VZ6   IRS USD P V 00MSOFR IS33W08 CCPOIS                          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   3460000 | OU      | $49007.23     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Golden State Tobacco Securitization Corp                                        | GOLDEN ST TOBACCO SECURITIZATION CORP CA TOBACCO SETTLEMENT                                                                        | CUSIP: 38122NB84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $42223.59     | 0.01%             | 2066-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                        | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE                                                                                     | CUSIP: 650116GY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $121874.70    | 0.04%             | 2054-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Tulsa Municipal Airport Trust Trustees/OK                                       | TULSA OK MUNI ARPT TRUST TRUSTEES                                                                                                  | CUSIP: 899661EN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1083326.00   | 0.33%             | 2040-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Empire State Development Corp                                                   | NEW YORK ST URBAN DEV CORP REVENUE                                                                                                 | CUSIP: 650036AH9<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $982713.60    | 0.30%             | 2038-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Nevada Department of Business & Industry                               | NEVADA DEPT OF BUSINESS & INDUSTRY NV REVENUE                                                                                      | CUSIP: 641455AB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $183799.78    | 0.06%             | 2065-01-01      | Floating      | 9.50%                 | No            |                  2 | On Loan: No      |
| City of Gulfport MS                                                             | GULFPORT MS HOSP FAC REVENUE                                                                                                       | CUSIP: 402682CU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    715000 | PA      | $775161.96    | 0.24%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ohio Higher Educational Facility Commission                                     | OHIO ST HGR EDUCTNL FAC COMMISSION                                                                                                 | CUSIP: 67756DS64<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |    400000 | PA      | $399286.04    | 0.12%             | 2042-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                        | NATIONAL FIN AUTH NH SPL REVENUE                                                                                                   | CUSIP: 63608TAS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003906.70   | 0.31%             | 2033-12-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| San Francisco Bay Area Rapid Transit District                                   | SAN FRANCISCO CA BAY AREA RAPID TRANSIT DIST                                                                                       | CUSIP: 797661WX9<br>LEI: 549300Y3C3QUMLE3FY58 | Long             | DBT              | MUN               | US        |    300000 | PA      | $300330.51    | 0.09%             | 2037-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                        | Long: SS31GG6   IRS USD R F  4.12500 IS31GG6 CCPOIS / Short: SS31GG6   IRS USD P V 00MSOFR IS31GH7 CCPOIS                          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    390000 | OU      | $14521.48     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Arizona Health Facilities Authority                                             | ARIZONA ST HLTH FACS AUTH                                                                                                          | CUSIP: 040507QB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    335000 | PA      | $335000.00    | 0.10%             | 2046-01-01      | Floating      | 3.95%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Airport Comm-San Francisco International Airport    | SAN FRANCISCO CALIF CITY &CNTY ARPTS COMMN INTL ARPT REV                                                                           | CUSIP: 79766DWL9<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |    500000 | PA      | $545331.35    | 0.17%             | 2034-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority                                    | NEW YORK NY CITY TRANSITIONAL FIN AUTH REV                                                                                         | CUSIP: 64972JJU3<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   1030000 | PA      | $1119706.82   | 0.35%             | 2037-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                        | PUBLIC FIN AUTH WI EDU REVENUE                                                                                                     | CUSIP: 74442EMQ0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    500000 | PA      | $476627.75    | 0.15%             | 2045-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                        | NATIONAL FIN AUTH NH MUNI CTFS                                                                                                     | CUSIP: 63607WBN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $925283.60    | 0.29%             | 2042-11-20      | Fixed         | 4.22%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                                | FLORIDA ST DEV FIN CORP                                                                                                            | CUSIP: 34062AAC5<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $932516.80    | 0.29%             | 2044-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port of Beaumont Navigation District                                            | PORT BEAUMONT TX NAV DIST DOCK& WHARF FAC REVENUE                                                                                  | CUSIP: 73360CAQ7<br>LEI: 549300G8PKBXALUKJY33 | Long             | DBT              | MUN               | US        |    100000 | PA      | $90730.97     | 0.03%             | 2044-01-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Alliance Bernstein                                                              | AB Fixed Income Shares, Inc. - Government Money Market Portfolio                                                                   | CUSIP: 018616748<br>LEI: 5493006YWHO7MNK2U579 | Long             | STIV             | RF                | US        |   3407409 | NS      | $3407409.08   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Charlotte-Mecklenburg Hospital Authority/The                                    | CHARLOTTE-MECKLENBURG NC HOSP AUTH HLTH CARE SYS REVENUE                                                                           | CUSIP: 160853LL9<br>LEI: 549300XOH4JU704GMZ32 | Long             | DBT              | MUN               | US        |    570000 | PA      | $570000.00    | 0.18%             | 2044-01-15      | Floating      | 3.90%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                  | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                                                                                            | CUSIP: 64613CEH7<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1950000 | PA      | $1988647.83   | 0.61%             | 2050-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Detroit MI                                                              | DETROIT MI                                                                                                                         | CUSIP: 2510936E5<br>LEI: 549300BQRJP7MKKHOY28 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1067336.60   | 0.33%             | 2043-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| State of Connecticut Special Tax Revenue                                        | CONNECTICUT ST SPL TAX OBLIG REVENUE                                                                                               | CUSIP: 207758XZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001984.60   | 0.31%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Airport Comm-San Francisco International Airport    | SAN FRANCISCO CALIF CITY &CNTY ARPTS COMMN INTL ARPT REV                                                                           | CUSIP: 79766DNT2<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $983453.90    | 0.30%             | 2047-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| M-S-R Energy Authority                                                          | M-S-R CA ENERGY AUTH GAS REVENUE                                                                                                   | CUSIP: 55374SAH3<br>LEI: 549300UEMSS1JTK5YB98 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1194688.50   | 0.37%             | 2034-11-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                           | MET TRANSPRTN AUTH NY REVENUE                                                                                                      | CUSIP: 59261APJ0<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    425000 | PA      | $313311.02    | 0.10%             | 2033-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                             | NEW YORK NY                                                                                                                        | CUSIP: 64966G4P4<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   3725000 | PA      | $3725000.00   | 1.15%             | 2038-04-01      | Floating      | 3.85%                 | No            |                  2 | On Loan: No      |
| Suffolk Regional Off-Track Betting Corp                                         | SUFFOLK REGL OFF-TRACK BETTING CORP NY REV                                                                                         | CUSIP: 86480TAB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100002.29    | 0.03%             | 2044-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                        | PUBLIC FIN AUTH WI REVENUE                                                                                                         | CUSIP: 74442PF59<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $984032.20    | 0.30%             | 2044-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                        | Long: BS344E9   IRS USD R V 00MSOFR IS344F0 CCPOIS / Short: BS344E9   IRS USD P F  3.74300 IS344E9 CCPOIS                          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   2200000 | OU      | $-9610.93     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Hillsborough County Aviation Authority                                          | HILLSBOROUGH CNTY FL AVIATION AUTH                                                                                                 | CUSIP: 432308W83<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $307577.79    | 0.10%             | 2044-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Bristol Industrial Development Board                                            | BRISTOL TN INDL DEV BRD ST SALES TAX REVENUE                                                                                       | CUSIP: 11023PAB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    505000 | PA      | $475559.56    | 0.15%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Orleans Aviation Board                                                      | NEW ORLEANS LA AVIATION BRD                                                                                                        | CUSIP: 64763HMS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1018191.50   | 0.31%             | 2045-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                               | ILLINOIS ST                                                                                                                        | CUSIP: 4521526L0<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1130484.39   | 0.35%             | 2039-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Airport Comm-San Francisco International Airport    | SAN FRANCISCO CALIF CITY &CNTY ARPTS COMMN INTL ARPT REV                                                                           | CUSIP: 79766DWU9<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1290308.88   | 0.40%             | 2042-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Industrial Tourist Educational Medical & Envirml Ctl Facs Fing Auth | PUERTO RICO INDL TOURIST EDUCTNL MED & ENVRNMNTL CONTROL FAC                                                                       | CUSIP: 74528LAD3<br>LEI: 549300YJRISCG6HQ4512 | Long             | DBT              | MUN               | US        |    100000 | PA      | $109973.60    | 0.03%             | 2046-01-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                           | MET TRANSPRTN AUTH NY REVENUE                                                                                                      | CUSIP: 59261A5C7<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1895000 | PA      | $1931000.07   | 0.60%             | 2045-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                        | MASSACHUSETTS ST DEV FIN AGY REVENUE                                                                                               | CUSIP: 57585BEW4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $990427.40    | 0.31%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                                | KENTUCKY ST PUBLIC ENERGY AUTH GAS SPLY REVENUE                                                                                    | CUSIP: 74440DFN9<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1064725.40   | 0.33%             | 2055-06-01      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Hancock County Redevelopment Authority                                          | HANCOCK CNTY IN REDEV AUTH REDEV DIST LEASE RENT                                                                                   | CUSIP: 40985AAR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1257733.84   | 0.39%             | 2036-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Valparaiso IN                                                           | VALPARAISO IN EXEMPT FACS REVENUE                                                                                                  | CUSIP: 92028RAE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $94681.81     | 0.03%             | 2044-01-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Washington Metropolitan Area Transit Authority Dedicated Revenue                | WASHINGTON DC MET AREA TRANSIT AUTH DEDICATED REVENUE                                                                              | CUSIP: 93878YAV1<br>LEI: 549300ADKOK76HQMJS30 | Long             | DBT              | MUN               | US        |    400000 | PA      | $403130.16    | 0.12%             | 2045-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of San Antonio TX Electric & Gas Systems Revenue                           | SAN ANTONIO TX ELEC & GAS REVENUE                                                                                                  | CUSIP: 79625GDQ3<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1310150.75   | 0.40%             | 2037-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas Municipal Gas Acquisition & Supply Corp IV                                | TEXAS ST MUNI GAS ACQUISITION& SPLY CORP IV                                                                                        | CUSIP: 88256PAT7<br>LEI: 549300PTUE847QDBBW22 | Long             | DBT              | MUN               | US        |    200000 | PA      | $218728.60    | 0.07%             | 2054-01-01      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                  | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                                                                                            | CUSIP: 64613CBH0<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1390000 | PA      | $1315779.98   | 0.41%             | 2039-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                       | HOUSTON TX ARPT SYS REVENUE                                                                                                        | CUSIP: 442349HW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1056747.50   | 0.33%             | 2036-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Salt Lake City UT Airport Revenue                                       | SALT LAKE CITY UT ARPT REVENUE                                                                                                     | CUSIP: 795576MC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2049847.80   | 0.63%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                        | Long: SS31E40   IRS USD R F  4.03600 IS31E40 CCPOIS / Short: SS31E40   IRS USD P V 00MSOFR IS31E51 CCPOIS                          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1500000 | OU      | $47307.19     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                   | MASSACHUSETTS ST                                                                                                                   | CUSIP: 57582TCN0<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2588550.75   | 0.80%             | 2045-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Regional Transportation District                                                | REGL TRANSPRTN DIST CO COPS                                                                                                        | CUSIP: 75913TLL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1635451.20   | 0.51%             | 2038-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                      | ILLINOIS ST FIN AUTH REVENUE                                                                                                       | CUSIP: 45200FZT9<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    655000 | PA      | $655000.00    | 0.20%             | 2043-08-01      | Floating      | 3.75%                 | No            |                  2 | On Loan: No      |
| Metropolitan Pier & Exposition Authority                                        | MET PIER & EXPOSITION AUTH IL REVENUE                                                                                              | CUSIP: 592250CX0<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |    100000 | PA      | $70206.90     | 0.02%             | 2042-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Washington Health Care Facilities Authority                                     | WASHINGTON ST HLTH CARE FACS AUTH                                                                                                  | CUSIP: 93978HZR9<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $921101.20    | 0.28%             | 2041-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Turnpike Authority                                                   | NEW JERSEY ST TURNPIKE AUTH TURNPIKE REVENUE                                                                                       | CUSIP: 646140FS7<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   2015000 | PA      | $2272848.06   | 0.70%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                               | SOUTHEAST ENERGY AUTHORITY A COOPERATIVE                                                                                           | CUSIP: 84136HAU7<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    400000 | PA      | $413654.64    | 0.13%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                           | LOUISIANA PUB FACS AUTH REVENUE                                                                                                    | CUSIP: 546399SX5<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    100000 | PA      | $98160.17     | 0.03%             | 2054-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Adams County General Authority                                                  | ADAMS CNTY PA GEN AUTH CLG REVENUE                                                                                                 | CUSIP: 00611PBN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    660000 | PA      | $660748.37    | 0.20%             | 2043-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                                     | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE                                                                                  | CUSIP: 56035DBV3<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $997834.70    | 0.31%             | 2043-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Empire State Development Corp                                                   | NEW YORK ST URBAN DEV CORP SALES TAX REVENUE                                                                                       | CUSIP: 64985TGA3<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1017518.80   | 0.31%             | 2047-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                        | Long: BS308B2   IRS USD R V 12MUSCPI IS308C3 CCPINFLATION ZERO / Short: BS308B2   IRS USD P F  2.49900 BS308B2 CCP INFLATION ZERO  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1566000 | OU      | $19253.61     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| San Francisco City & County Airport Comm-San Francisco International Airport    | SAN FRANCISCO CALIF CITY &CNTY ARPTS COMMN INTL ARPT REV                                                                           | CUSIP: 79766DMA4<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $999761.10    | 0.31%             | 2044-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac Multifamily ML Certificates                                         | Freddie Mac Multifamily                                                                                                            | CUSIP: 3137HC2E1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     99468 | PA      | $100697.94    | 0.03%             | 2041-08-25      | Variable      | 4.52%                 | No            |                  2 | On Loan: No      |
| King & Snohomish Counties School District No 417 Northshore                     | KING & SNOHOMISH CNTYS WA SCHDIST #417 NORTHSHORE                                                                                  | CUSIP: 494656Z61<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $106432.80    | 0.03%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maine Governmental Facilities Authority                                         | MAINE ST GOVTL FACS AUTH                                                                                                           | CUSIP: 56041MYQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1460000 | PA      | $1514867.38   | 0.47%             | 2044-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Gulfport MS                                                             | GULFPORT MS HOSP FAC REVENUE                                                                                                       | CUSIP: 402682DG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $910637.82    | 0.28%             | 2050-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                           | MET TRANSPRTN AUTH NY REVENUE                                                                                                      | CUSIP: 59261A2J5<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1060000 | PA      | $1070976.62   | 0.33%             | 2049-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                           | PENNSYLVANIA ST ECON DEV FING AUTH T/E PRIVATE ACTIVITY REV                                                                        | CUSIP: 70868YAQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $309159.06    | 0.10%             | 2039-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                        | ARIZONA ST INDL DEV AUTH NATIONAL CHRT SCH REVOLVING LOAN FD                                                                       | CUSIP: 04052FEM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $977934.90    | 0.30%             | 2053-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                        | PUBLIC FIN AUTH WI REVENUE                                                                                                         | CUSIP: 74442PQ81<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $290259.10    | 0.09%             | 2042-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority                                    | NEW YORK NY CITY TRANSITIONAL FIN AUTH REV                                                                                         | CUSIP: 64972JTQ1<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1015507.30   | 0.31%             | 2046-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                        | Long: BS31T56   IRS USD R V 12MUSCPI IS31T67 CCPINFLATIONZERO / Short: BS31T56   IRS USD P F  2.56880 IS31T56 CCPINFLATIONZERO     | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   3100000 | OU      | $27675.87     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development Bank                           | CALIFORNIA ST INFRASTRUCTURE & ECON DEV BANK REVENUE                                                                               | CUSIP: 13034A6B1<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1010892.41   | 0.31%             | 2065-01-01      | Floating      | 9.50%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL                                                              | CHICAGO IL                                                                                                                         | CUSIP: 167486V63<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1032047.00   | 0.32%             | 2040-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Lower Colorado River Authority                                                  | LOWER COLORADO RIVER TX AUTH REVENUE                                                                                               | CUSIP: 54811GK74<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1084544.60   | 0.34%             | 2034-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Troy Capital Resource Corp                                                      | TROY NY CAPITAL RESOURCE CORP REVENUE                                                                                              | CUSIP: 897579BN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1091101.90   | 0.34%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| 2025 Loan Holding - 1                                                           | 2025 LOAN HOLDING - 1                                                                                                              | CUSIP: 90223AAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.31%             | 2026-05-01      | Floating      | 3.71%                 | No            |                  2 | On Loan: No      |
| Metropolitan Pier & Exposition Authority                                        | MET PIER & EXPOSITION AUTH IL REVENUE                                                                                              | CUSIP: 592250EW0<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $890404.70    | 0.28%             | 2042-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                        | MASSACHUSETTS ST DEV FIN AGY REVENUE                                                                                               | CUSIP: 57585BKB3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003556.90   | 0.31%             | 2050-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                  | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                                                                                            | CUSIP: 64613CEW4<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1076674.08   | 0.33%             | 2042-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                 | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE                                                                        | CUSIP: 13013JCM6<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    200000 | PA      | $210281.34    | 0.06%             | 2054-01-01      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                               | ILLINOIS ST                                                                                                                        | CUSIP: 4521526X4<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    100000 | PA      | $101013.80    | 0.03%             | 2033-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Whiting IN                                                              | WHITING IN ENVRNMNTL FACS REVENUE                                                                                                  | CUSIP: 96634RAZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006695.50   | 0.31%             | 2044-06-01      | Floating      | 4.20%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                            | TRIBOROUGH NY BRIDGE & TUNNEL AUTH REVENUES                                                                                        | CUSIP: 89602RMU6<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1062818.60   | 0.33%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                        | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE                                                                                     | CUSIP: 650116GP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $515064.15    | 0.16%             | 2040-04-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                        | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE                                                                                     | CUSIP: 650116JQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023279.10   | 0.32%             | 2059-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Palm Beach County Health Facilities Authority                                   | PALM BEACH CNTY FL HLTH FACS AUTH HOSP REVENUE                                                                                     | CUSIP: 69651ACV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $978323.20    | 0.30%             | 2043-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                           | MET TRANSPRTN AUTH NY REVENUE                                                                                                      | CUSIP: 59261AG35<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    400000 | PA      | $382956.32    | 0.12%             | 2045-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Raleigh Durham Airport Authority                                                | RALEIGH DURHAM NC ARPT AUTH ARPT REVENUE                                                                                           | CUSIP: 751073JW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1225000 | PA      | $1226528.68   | 0.38%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Stadium Authority                                                      | MARYLAND ST STADIUM AUTH REVENUE                                                                                                   | CUSIP: 574296BS7<br>LEI: 549300VA283TTQRDNF71 | Long             | DBT              | MUN               | US        |    445000 | PA      | $460802.04    | 0.14%             | 2036-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Lee FL Airport Revenue                                                | LEE CNTY FL ARPT REVENUE                                                                                                           | CUSIP: 523470HV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1021582.40   | 0.32%             | 2044-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Wolf Creek Infrastructure Financing District No 1                               | WOLF CREEK INFRASTRUCTURE FING DIST #1 UT SPL ASSMNT                                                                               | CUSIP: 977695AA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $197652.04    | 0.06%             | 2044-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Fayette County Development Authority                                            | FAYETTE CNTY GA DEV AUTH REVENUE                                                                                                   | CUSIP: 31222PAX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1050711.17   | 0.32%             | 2054-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Central Plains Energy Project                                                   | CENTRL PLAINS ENERGY PROJ NE GAS SPLY REVENUE                                                                                      | CUSIP: 154872AY1<br>LEI: SVQOT7V5CPLIGNP5BE29 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1067322.90   | 0.33%             | 2055-08-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Dallas TX                                                               | DALLAS TX                                                                                                                          | CUSIP: 235219YQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1118774.10   | 0.35%             | 2032-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indianapolis Local Public Improvement Bond Bank                                 | INDIANAPOLIS IN LOCAL PUBLIC IMPT BOND BANK                                                                                        | CUSIP: 45528U7K1<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1616647.84   | 0.50%             | 2067-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Chandler Industrial Development Authority                                       | CHANDLER AZ INDL DEV AUTH INDL DEV REVENUE                                                                                         | CUSIP: 158862CA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $305747.40    | 0.09%             | 2042-09-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority Aviation Revenue                     | MET WASHINGTON DC ARPTS AUTH ARPT SYS REVENUE                                                                                      | CUSIP: 592647LT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1058231.30   | 0.33%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Georgetown TX Utility System Revenue                                    | GEORGETOWN TX UTILITY SYS REVENUE                                                                                                  | CUSIP: 373064X90<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1535000 | PA      | $1565490.17   | 0.48%             | 2044-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Delaware Valley Regional Finance Authority                                      | DELAWARE VLY PA REGL FIN AUTH                                                                                                      | CUSIP: 246579LZ7<br>LEI: 549300HGYP3NW885TT18 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 0.15%             | 2059-09-01      | Floating      | 3.90%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power                                         | LOS ANGELES CA DEPT OF WTR & PWR REVENUE                                                                                           | CUSIP: 544532MP6<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    500000 | PA      | $517743.30    | 0.16%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                             | WISCONSIN ST HLTH & EDUCTNL FACS AUTH REVENUE                                                                                      | CUSIP: 97712JHF3<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    150000 | PA      | $152329.28    | 0.05%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                        | PUB FIN AUTH WI TAX INCREMENT REVNUE                                                                                               | CUSIP: 74448EAA2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    100000 | PA      | $97631.83     | 0.03%             | 2041-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                       | HOUSTON TX ARPT SYS REVENUE                                                                                                        | CUSIP: 442349GP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $516345.20    | 0.16%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                                 | NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE                                                                           | CUSIP: 64972GZP2<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $894649.70    | 0.28%             | 2045-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL                                                              | CHICAGO IL                                                                                                                         | CUSIP: 167486T90<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1055585.70   | 0.33%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade FL Aviation Revenue                                        | MIAMI-DADE CNTY FL AVIATION REVENUE                                                                                                | CUSIP: 59333P7L6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1005000 | PA      | $1094352.34   | 0.34%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Salt Verde Financial Corp                                                       | SALT VERDE AZ FINANCIAL CORP SENIOR GAS REVENUE                                                                                    | CUSIP: 79575EAS7<br>LEI: 549300VEWOZY6TQOIF03 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1567678.95   | 0.48%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Industrial Development Authority of the City of Phoenix Arizona/The             | PHOENIX AZ INDL DEV AUTH STUDENT HSG REVENUE                                                                                       | CUSIP: 71885DDC3<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003411.00   | 0.31%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeast Alabama Gas Supply District/The                                       | S E ALABAMA ST GAS SPLY DIST GAS SPLY REVENUE                                                                                      | CUSIP: 84131TBT8<br>LEI: 549300BL04JIB2GJZ178 | Long             | DBT              | MUN               | US        |    200000 | PA      | $212863.86    | 0.07%             | 2049-06-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia PA Water & Wastewater Revenue                              | PHILADELPHIA PA WTR & WSTWTR REVENUE                                                                                               | CUSIP: 717893ZM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001506.50   | 0.31%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Guam Government Waterworks Authority                                            | GUAM GOVT WTRWKS AUTH WTR & WSTWTR SYS REVENUE                                                                                     | CUSIP: 40065FDZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    270000 | PA      | $278243.45    | 0.09%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Golden State Tobacco Securitization Corp                                        | GOLDEN ST TOBACCO SECURITIZATION CORP CA TOBACCO SETTLEMENT                                                                        | CUSIP: 38122ND90<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    460000 | PA      | $438687.56    | 0.14%             | 2051-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Atlanta GA Department of Aviation                                       | ATLANTA GA ARPT REVENUE                                                                                                            | CUSIP: 04780MC80<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1310000 | PA      | $1323656.23   | 0.41%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan State Hospital Finance Authority                                       | MICHIGAN ST HOSP FIN AUTH                                                                                                          | CUSIP: 59465HXD3<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2541153.25   | 0.78%             | 2046-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-30

**Name of Applicant:** AB Active ETFs, Inc.

**Signature:** Stephen Woetzel

**Name of Signer:** Stephen Woetzel

**Title:** Controller