# EDGAR Filing Document

**Accession Number:** 0000866700
**File Stem:** 0001145549-25-046938
**Filing Date:** 2025-7
**Character Count:** 247202
**Document Hash:** d3aedb360943a06ff0e61741e55b6a9a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-046938.hdr.sgml**: 20250722

**ACCESSION NUMBER**: 0001145549-25-046938

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250722

**DATE AS OF CHANGE**: 20250722

**PERIOD START**: 20250831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Federated Hermes Municipal Securities Income Trust
- **CENTRAL INDEX KEY:** 0000866700

**ORGANIZATION NAME:**
- **EIN:** 251695291
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06165
- **FILM NUMBER:** 251139006

**BUSINESS ADDRESS:**
- **STREET 1:** 4000 ERICSSON DRIVE
- **CITY:** WARRENDALE
- **STATE:** PA
- **ZIP:** 15086-7561
- **BUSINESS PHONE:** 8003417400

**MAIL ADDRESS:**
- **STREET 1:** 4000 ERICSSON DRIVE
- **CITY:** WARRENDALE
- **STATE:** PA
- **ZIP:** 15086-7561

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FEDERATED MUNICIPAL SECURITIES INCOME TRUST
- **DATE OF NAME CHANGE:** 19991029

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MUNICIPAL SECURITIES INCOME TRUST
- **DATE OF NAME CHANGE:** 19921023

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FEDERATED MUNICIPAL INCOME TRUST
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Federated Hermes Municipal High Yield Advantage Fund (Series ID: S000012747)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000034361 | Class A Shares       | FMOAX           |
| C000034363 | Class C Shares       | FMNCX           |
| C000034364 | Class F Shares       | FHTFX           |
| C000130166 | Institutional Shares | FMYIX           |
| C000188346 | Class T Shares       |  |

## Nport-Ex

Federated Hermes Municipal High Yield Advantage Fund

Portfolio of Investments

May 31, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
| **Principal** <br>**Amount**<br>|  | **Value** |
|  | MUNICIPAL BONDS—98.3% |  |
|  | **Alabama—1.6%** |  |
| $500000<br><sup>1,2</sup> <br>| Huntsville, AL Special Care Facilities Financing Authority (Redstone Village), Retirement Facilities Revenue Bonds <br> (Series 2011A), (Original Issue Yield: 7.625%), 7.500%, 1/1/2047<br>| &nbsp;&nbsp; $275000 |
| &nbsp;&nbsp; 1500000<br><sup>1,2</sup> <br>| Huntsville, AL Special Care Facilities Financing Authority (Redstone Village), Retirement Facility Revenue Bonds <br> (Series 2007), (Original Issue Yield: 5.600%), 5.500%, 1/1/2043<br>| &nbsp;&nbsp; 825000 |
| &nbsp;&nbsp; 2000000 | Jefferson County, AL (Jefferson County, AL Sewer System), Sewer Revenue Warrants (Series 2024), 5.250%, 10/1/2049 | &nbsp;&nbsp; 2019479 |
| &nbsp;&nbsp; 2000000 | Jefferson County, AL (Jefferson County, AL Sewer System), Sewer Revenue Warrants (Series 2024), 5.500%, 10/1/2053 | &nbsp;&nbsp; 2048858 |
| &nbsp;&nbsp; 1000000 | Mobile County, AL IDA (AM/NS Calvert LLC), Solid Waste Disposal Revenue Bonds (Series 2024A), 5.000%, 6/1/2054 | &nbsp;&nbsp; 938143 |
| &nbsp;&nbsp; 1000000 | Mobile County, AL IDA (AM/NS Calvert LLC), Solid Waste Disposal Revenue Bonds (Series 2024B), (Original Issue Yield: <br> 4.875%), 4.750%, 12/1/2054<br>| &nbsp;&nbsp; 901718 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 7008198 |
|  | **Arizona—2.7%** |  |
| &nbsp;&nbsp; 650000<br><sup>3</sup> <br>| Arizona State IDA (Basis Schools, Inc. Obligated Group), Education Revenue Bonds (Series 2017D), 5.000%, 7/1/2051 | &nbsp;&nbsp; 596209 |
| &nbsp;&nbsp; 500000<br><sup>3</sup> <br>| Arizona State IDA (Basis Schools, Inc. Obligated Group), Education Revenue Bonds (Series 2017G), 5.000%, 7/1/2051 | &nbsp;&nbsp; 458622 |
| &nbsp;&nbsp; 1750000<br><sup>3</sup> <br>| Arizona State IDA (Pinecrest Academy of Nevada), Horizon, Inspirada and St. Rose Campus Education Revenue Bonds <br> (Series 2018A), 5.750%, 7/15/2048<br>| &nbsp;&nbsp; 1756360 |
| &nbsp;&nbsp; 1000000 | Chandler, AZ IDA (Intel Corp.), Industrial Development Revenue Bonds (Series 2022-2), 5.000%, Mandatory Tender 9/1/2027 | &nbsp;&nbsp; 1018677 |
| &nbsp;&nbsp; 1000000<br><sup>3</sup> <br>| Maricopa County, AZ, IDA (Commercial Metals Corp.), Exempt Facilities Revenue Bonds (Series 2022), 4.000%, 10/15/2047 | &nbsp;&nbsp; 827155 |
| &nbsp;&nbsp; 1000000 | Phoenix, AZ IDA (GreatHearts Academies), Education Facility Revenue Bonds (Series 2016A), 5.000%, 7/1/2046 | &nbsp;&nbsp; 940733 |
| &nbsp;&nbsp; 1000000<br><sup>3</sup> <br>| Pima County, AZ IDA (La Posada at Pusch Ridge), Senior Living Revenue Bonds (Series 2022A), 6.250%, 11/15/2035 | &nbsp;&nbsp; 1052013 |
| &nbsp;&nbsp; 1000000<br><sup>3</sup> <br>| Pima County, AZ IDA (La Posada at Pusch Ridge), Senior Living Revenue Bonds (Series 2022A), 7.000%, 11/15/2057 | &nbsp;&nbsp; 1045163 |
| &nbsp;&nbsp; 3000000 | Salt Verde Financial Corp., AZ, Senior Gas Revenue Bonds (Series 2007), (Original Issue Yield: 5.100%), (Citigroup, Inc. GTD), <br> 5.000%, 12/1/2037<br>| &nbsp;&nbsp; 3101800 |
| &nbsp;&nbsp; 400000 | Tempe, AZ IDA (Mirabella at ASU), Revenue Bonds (Series 2017A), 6.125%, 10/1/2047 | &nbsp;&nbsp; 260699 |
| &nbsp;&nbsp; 1000000 | Yuma, AZ IDA (Yuma Regional Medical Center), Revenue Bonds (Series 2024A), 5.250%, 8/1/2054 | &nbsp;&nbsp; 1007657 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 12065088 |
|  | **Arkansas—0.3%** |  |
| &nbsp;&nbsp; 1250000 | Arkansas Development Finance Authority (United States Steel Corp.), Environmental Improvement Revenue Bonds <br> (Series 2022), 5.450%, 9/1/2052<br>| &nbsp;&nbsp; 1241526 |
|  | **California—5.5%** |  |
| &nbsp;&nbsp; 1000000<br><sup>3</sup> <br>| California Infrastructure & Economic Development Bank (Brightline West Passenger Rail Project), Senior Subordinated <br> Secured Revenue Bonds (Series 2025A), (Original Issue Yield: 9.941%), 9.500%, Mandatory Tender 1/1/2035<br>| &nbsp;&nbsp; 968677 |
| &nbsp;&nbsp; 2000000 | California Municipal Finance Authority (LINXS APM Project), Senior Lien Revenue Bonds (Series 2018A), 5.000%, 12/31/2043 | &nbsp;&nbsp; 1946832 |
| &nbsp;&nbsp; 2250000 | California Municipal Finance Authority (Republic Services, Inc.), Solid Waste Disposal Revenue Bonds (Series 2023A), <br> 4.375%, Mandatory Tender 9/1/2033<br>| &nbsp;&nbsp; 2229602 |
| &nbsp;&nbsp; 1250000<br><sup>3</sup> <br>| California Public Finance Authority (Kendal at Sonoma), Enso Village Senior Living Revenue Refunding Bonds (Series 2021A), <br> 5.000%, 11/15/2046<br>| &nbsp;&nbsp; 1131561 |
| &nbsp;&nbsp; 2000000<br><sup>3</sup> <br>| California Public Finance Authority (Sunrise of Manhattan Beach), Senior Living Rental Housing Revenue Bonds <br> (Series 2025-A1), (Original Issue Yield: 7.000%), 6.750%, 7/1/2065<br>| &nbsp;&nbsp; 2076487 |
| &nbsp;&nbsp; 565000<br><sup>3</sup> <br>| California School Finance Authority (KIPP LA), School Facility Revenue Bonds (Series 2015A), 5.000%, 7/1/2045 | &nbsp;&nbsp; 543323 |
| &nbsp;&nbsp; 500000<br><sup>3</sup> <br>| California School Finance Authority (KIPP LA), School Facility Revenue Bonds (Series 2017A), 5.000%, 7/1/2047 | &nbsp;&nbsp; 477245 |
| &nbsp;&nbsp; 1000000<br><sup>3</sup> <br>| California State School Finance Authority Charter School Revenue (Bright Star Schools-Obligated Group), Charter School <br> Revenue Bonds (Series 2017), 5.000%, 6/1/2037<br>| &nbsp;&nbsp; 974104 |
| &nbsp;&nbsp; 500000<br><sup>3</sup> <br>| California State School Finance Authority Charter School Revenue (Rocketship Public Schools), Revenue Bonds <br> (Series 2017G), 5.000%, 6/1/2047<br>| &nbsp;&nbsp; 455447 |
| &nbsp;&nbsp; 580000<br><sup>3</sup> <br>| California State School Finance Authority Charter School Revenue (Summit Public Schools Obligated Group), (Series 2017), <br> (United States Treasury PRF 6/1/2027@100), 5.000%, 6/1/2053<br>| &nbsp;&nbsp; 601879 |
| &nbsp;&nbsp; 520000<br><sup>3</sup> <br>| California State School Finance Authority Charter School Revenue (Summit Public Schools Obligated Group), (Series 2017), <br> 5.000%, 6/1/2053<br>| &nbsp;&nbsp; 451734 |
| &nbsp;&nbsp; 2250000<br><sup>3</sup> <br>| California Statewide Communities Development Authority (Loma Linda University Medical Center), Revenue Bonds <br> (Series 2016A), 5.000%, 12/1/2046<br>| &nbsp;&nbsp; 2129672 |

---

**1**

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| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **California—continued** |  |
| $1000000 | Community Facilities District No. 2017 of the County of Orange (CFD 2017-1 (Village of Esencia)), Improvement Area No.1 <br> Special Tax Revenue Bonds (Series 2018A), 5.000%, 8/15/2042<br>| &nbsp;&nbsp; $1008328 |
| &nbsp;&nbsp; 14000000<br><sup>4</sup> <br>| Golden State, CA Tobacco Securitization Corp., Subordinate Tobacco Settlement Asset-Backed Bonds (Series 2021B-2), <br> 0.000%, 6/1/2066<br>| &nbsp;&nbsp; 1501821 |
| &nbsp;&nbsp; 1000000 | Los Angeles, CA Department of Airports (Los Angeles International Airport), Subordinate Revenue and Refunding Revenue <br> Bonds (Series 2025A), 5.250%, 5/15/2043<br>| &nbsp;&nbsp; 1040477 |
| &nbsp;&nbsp; 2000000 | Los Angeles, CA Department of Airports (Los Angeles International Airport), Subordinate Revenue and Refunding Revenue <br> Bonds (Series 2025D), 5.250%, 5/15/2055<br>| &nbsp;&nbsp; 2094012 |
| &nbsp;&nbsp; 2500000 | M-S-R Energy Authority, CA, Gas Revenue Bonds (Series 2009A), (Citigroup, Inc. GTD), 7.000%, 11/1/2034 | &nbsp;&nbsp; 2942385 |
| &nbsp;&nbsp; 1000000 | Orange County, CA Community Facilities District No. 2023-1 (Rienda Phase 2B), Special Tax Bonds (Series 2023A), (Original <br> Issue Yield: 5.550%), 5.500%, 8/15/2053<br>| &nbsp;&nbsp; 1031762 |
| &nbsp;&nbsp; 600000 | San Francisco, CA City & County Airport Commission, Second Series Revenue Refunding Bonds (Series 2024A), <br> 5.250%, 5/1/2044<br>| &nbsp;&nbsp; 616231 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 24221579 |
|  | **Colorado—3.9%** |  |
| &nbsp;&nbsp; 1000000 | Banning Lewis Ranch Metropolitan District No. 4, LT GO Bonds (Series 2018A), 5.750%, 12/1/2048 | &nbsp;&nbsp; 969546 |
| &nbsp;&nbsp; 1000000 | Banning Lewis Ranch Regional Metropolitan District, LT GO Bonds (Series 2018A), 5.375%, 12/1/2048 | &nbsp;&nbsp; 922599 |
| &nbsp;&nbsp; 1500000 | Base Village Metropolitan District No. 2, LT GO Refunding Bonds (Series 2016A), 5.750%, 12/1/2046 | &nbsp;&nbsp; 1499983 |
| &nbsp;&nbsp; 500000 | Colorado Educational & Cultural Facilities Authority (Aspen View Academy), Charter School Revenue Bonds (Series 2021), <br> 4.000%, 5/1/2061<br>| &nbsp;&nbsp; 373063 |
| &nbsp;&nbsp; 1750000 | Colorado Educational & Cultural Facilities Authority (James Irwin Educational Foundation), Charter School Revenue Bonds <br> (Series 2022), 5.000%, 9/1/2057<br>| &nbsp;&nbsp; 1605981 |
| &nbsp;&nbsp; 1000000<br><sup>3</sup> <br>| Colorado Educational & Cultural Facilities Authority (Loveland Classical School), School Improvement Revenue Bonds <br> (Series 2016), 5.000%, 7/1/2036<br>| &nbsp;&nbsp; 1002841 |
| &nbsp;&nbsp; 1000000 | Colorado Educational & Cultural Facilities Authority (University Lab School), Charter School Refunding & Improvement <br> Revenue Bonds (Series 2015), (Original Issue Yield: 5.020%), 5.000%, 12/15/2045<br>| &nbsp;&nbsp; 930446 |
| &nbsp;&nbsp; 1500000 | Colorado Health Facilities Authority (Christian Living Communities), Revenue Refunding Bonds (Series 2016), <br> 5.000%, 1/1/2031<br>| &nbsp;&nbsp; 1504497 |
| &nbsp;&nbsp; 750000 | Denver, CO City & County Department of Aviation (Denver, CO City & County Airport Authority), Airport System <br> Subordinate Revenue Bonds (Series 2023B), 5.500%, 11/15/2040<br>| &nbsp;&nbsp; 799073 |
| &nbsp;&nbsp; 500000 | Denver, CO Convention Center Hotel Authority, Senior Revenue Refunding Bonds (Series 2016), 5.000%, 12/1/2040 | &nbsp;&nbsp; 492517 |
| &nbsp;&nbsp; 750000 | Denver, CO Health & Hospital Authority, Revenue Bonds (Series 2025A), 6.000%, 12/1/2055 | &nbsp;&nbsp; 794378 |
| &nbsp;&nbsp; 1000000<br><sup>3</sup> <br>| Denver, CO Health & Hospital Authority, Revenue Refunding Bonds (Series 2017A), 5.000%, 12/1/2034 | &nbsp;&nbsp; 1010650 |
| &nbsp;&nbsp; 325000 | Eagle County, CO Air Terminal Corp., Revenue Refunding Bonds (Series 2011A), 6.000%, 5/1/2027 | &nbsp;&nbsp; 325376 |
| &nbsp;&nbsp; 2500000 | North Range, CO Metropolitan District No. 2, LT GO and Special Revenue Refunding and Improvement Bonds <br> (Series 2017A), 5.750%, 12/1/2047<br>| &nbsp;&nbsp; 2408808 |
| &nbsp;&nbsp; 1670000 | Public Authority for Colorado Energy, Natural Gas Purchase Revenue Bonds (Series 2008), (Original Issue Yield: 6.630%), <br> (Bank of America Corp. GTD), 6.250%, 11/15/2028<br>| &nbsp;&nbsp; 1744612 |
| &nbsp;&nbsp; 735000 | Sterling Ranch, CO Community Authority Board (Sterling Ranch, CO Metropolitan District No.4 Subdistrict-A), LT Supported <br> and Special Revenue Refunding Improvement Bonds (Series 2024A), 6.500%, 12/1/2054<br>| &nbsp;&nbsp; 744133 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 17128503 |
|  | **Connecticut—0.7%** |  |
| &nbsp;&nbsp; 1000000 | Connecticut Development Authority (Bombardier, Inc.), Airport Facility Revenue Bonds, 7.950%, 4/1/2026 | &nbsp;&nbsp; 1000114 |
| &nbsp;&nbsp; 1000000 | Stamford, CT Housing Authority (Mozaic Concierge Living), Revenue Bonds (Series 2025A), 6.500%, 10/1/2055 | &nbsp;&nbsp; 982677 |
| &nbsp;&nbsp; 1000000 | Steel Point Infrastructure Improvement District, Steelpointe Harbor Special Obligation Revenue Bonds (Series 2024), <br> (Original Issue Yield: 6.090%), 6.000%, 4/1/2052<br>| &nbsp;&nbsp; 1039722 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 3022513 |
|  | **Delaware—1.0%** |  |
| &nbsp;&nbsp; 1600000 | Delaware EDA (Newark Charter School, Inc.), Charter School Revenue Bonds (Series 2021), 4.000%, 9/1/2041 | &nbsp;&nbsp; 1389480 |
| &nbsp;&nbsp; 3000000<br><sup>3</sup> <br>| Millsboro, DE Special Obligations (Plantation Lakes Special Development District), Special Tax Revenue Refunding Bonds <br> (Series 2018), (Original Issue Yield: 5.140%), 5.125%, 7/1/2038<br>| &nbsp;&nbsp; 2902671 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 4292151 |
|  | **District of Columbia—1.4%** |  |
| &nbsp;&nbsp; 1000000 | District of Columbia (Friendship Public Charter School, Inc.), Revenue Bonds (Series 2016A), 5.000%, 6/1/2046 | &nbsp;&nbsp; 950473 |
| &nbsp;&nbsp; 1000000 | District of Columbia (Ingleside at Rock Creek), Project Revenue Bonds (Series 2017A), (Original Issue Yield: 5.250%), <br> 5.000%, 7/1/2052<br>| &nbsp;&nbsp; 864670 |

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**2**

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| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **District of Columbia—continued** |  |
| $1000000 | District of Columbia (KIPP DC), Revenue Bonds (Series 2019), 4.000%, 7/1/2039 | &nbsp;&nbsp; $922603 |
| &nbsp;&nbsp; 1500000 | District of Columbia Income Tax Revenue, Income Tax Secured Revenue and Refunding Bonds (Series 2025A), <br> 5.250%, 6/1/2050<br>| &nbsp;&nbsp; 1573451 |
| &nbsp;&nbsp; 2000000 | Washington Metropolitan Area Transit Authority, Dedicated Revenue Bonds (Series 2024A), (Original Issue Yield: 4.530%), <br> 4.375%, 7/15/2059<br>| &nbsp;&nbsp; 1782516 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 6093713 |
|  | **Florida—11.1%** |  |
| &nbsp;&nbsp; 1245000 | Alta Lakes, FL CDD, Special Assessment Bonds (Series 2019), 4.625%, 5/1/2049 | &nbsp;&nbsp; 1101825 |
| &nbsp;&nbsp; 115000 | Arborwood, FL CDD, Special Assessment Revenue Bonds (Series 2014A-1), (Original Issue Yield: 6.900%), 6.900%, 5/1/2036 | &nbsp;&nbsp; 115044 |
| &nbsp;&nbsp; 1360000 | Boggy Branch CDD, FL, Special Assessment Bonds (Series 2021), 4.000%, 5/1/2051 | &nbsp;&nbsp; 1058962 |
| &nbsp;&nbsp; 1500000<br><sup>3</sup> <br>| Capital Projects Finance Authority, FL (Trilogy Community Development Foundation, Inc.), Millenia Moments Orlando <br> Project Revenue Bonds (Series 2025A), (Original Issue Yield: 7.400%), 7.125%, 1/1/2065<br>| &nbsp;&nbsp; 1446821 |
| &nbsp;&nbsp; 1000000 | Capital Trust Authority (Convivial St. Petersburg), Revenue Bond Anticipation Notes (Series 2024A), 12.000%, 10/3/2029 | &nbsp;&nbsp; 1082303 |
| &nbsp;&nbsp; 2000000 | Central Florida Expressway Authority, Senior Lien Revenue Bonds (Series 2024A), (Assured Guaranty, Inc. INS), <br> 5.000%, 7/1/2054<br>| &nbsp;&nbsp; 2025448 |
| &nbsp;&nbsp; 2237081<br><sup>1,2,3</sup> <br>| Collier County, FL IDA (Arlington of Naples), Continuing Care Community Revenue Bonds (Series 2013A), (Original Issue <br> Yield: 8.375%), 8.250%, 5/15/2049<br>| &nbsp;&nbsp; 224 |
| &nbsp;&nbsp; 665000 | Florida Development Finance Corp. (GFL Solid Waste Southeast LLC), Solid Waste Disposal Revenue Bonds (Series 2024A), <br> (GFL Environmental, Inc. GTD), 4.375%, Mandatory Tender 10/1/2031<br>| &nbsp;&nbsp; 661893 |
| &nbsp;&nbsp; 1000000 | Florida Development Finance Corp. (Mayflower Retirement Community), Senior Living Revenue Bonds (Series 2021A), <br> 4.000%, 6/1/2055<br>| &nbsp;&nbsp; 681426 |
| &nbsp;&nbsp; 1000000 | Florida Development Finance Corp. (Tampa General Hospital - Old), Healthcare Facilities Revenue Bonds (Series 2024A), <br> 5.250%, 8/1/2055<br>| &nbsp;&nbsp; 1002477 |
| &nbsp;&nbsp; 500000 | Hacienda North CDD, Special Assessment Bonds (Series 2023), 6.300%, 5/1/2043 | &nbsp;&nbsp; 521810 |
| &nbsp;&nbsp; 1000000 | Hacienda North CDD, Special Assessment Bonds (Series 2023), 6.500%, 5/1/2053 | &nbsp;&nbsp; 1042531 |
| &nbsp;&nbsp; 1000000 | Harbor Bay, FL CDD, Special Assessment District Area One (Series 2019A-1), (Original Issue Yield: 4.140%), <br> 4.100%, 5/1/2048<br>| &nbsp;&nbsp; 832494 |
| &nbsp;&nbsp; 1000000 | Hillsborough County, FL Aviation Authority (Tampa International Airport), Revenue Bonds (Series 2024B), 5.500%, 10/1/2054 | &nbsp;&nbsp; 1030607 |
| &nbsp;&nbsp; 265000 | Lakes of Sarasota CDD, Improvement Revenue Bonds Phase 1 Project (Series 2021A-1), 4.100%, 5/1/2051 | &nbsp;&nbsp; 211768 |
| &nbsp;&nbsp; 100000 | Lakes of Sarasota CDD, Improvement Revenue Bonds Phase 1 Project (Series 2021A-2), (Original Issue Yield: 3.960%), <br> 3.875%, 5/1/2031<br>| &nbsp;&nbsp; 98345 |
| &nbsp;&nbsp; 555000 | Lakewood Ranch, FL Stewardship District (Indigo Expansion Area Project), Special Assessment Revenue Bonds (Series 2019), <br> 4.000%, 5/1/2049<br>| &nbsp;&nbsp; 449122 |
| &nbsp;&nbsp; 1000000 | Lakewood Ranch, FL Stewardship District (Lakewood National & Polo Run), Special Assessment Bonds, (Original Issue Yield: <br> 5.400%), 5.375%, 5/1/2047<br>| &nbsp;&nbsp; 1004099 |
| &nbsp;&nbsp; 750000 | Lakewood Ranch, FL Stewardship District (Northeast Sector Phase-2B), Special Assessment Revenue Bonds (Series 2020), <br> 4.000%, 5/1/2050<br>| &nbsp;&nbsp; 599302 |
| &nbsp;&nbsp; 1000000 | Lakewood Ranch, FL Stewardship District (Northeast Sector Project - Phase 1B), Special Assessment Revenue Bonds <br> (Series 2018), 5.450%, 5/1/2048<br>| &nbsp;&nbsp; 1003777 |
| &nbsp;&nbsp; 760000 | Lakewood Ranch, FL Stewardship District (Palm Grove Project), Special Assessment Revenue Bonds (Series 2024), (Original <br> Issue Yield: 5.530%), 5.500%, 5/1/2055<br>| &nbsp;&nbsp; 716091 |
| &nbsp;&nbsp; 1000000 | Lakewood Ranch, FL Stewardship District (Taylor Ranch), Special Assessment Revenue Bonds (Series 2023), <br> 6.300%, 5/1/2054<br>| &nbsp;&nbsp; 1028604 |
| &nbsp;&nbsp; 1075000 | Lakewood Ranch, FL Stewardship District (Villages of Lakewood Ranch South), Special Assessment Revenue Bonds <br> (Series 2016), (Original Issue Yield: 5.160%), 5.125%, 5/1/2046<br>| &nbsp;&nbsp; 1034683 |
| &nbsp;&nbsp; 1600000 | Lee County, FL (Lee County, FL Airport), Revenue Bonds (Series 2024), 5.250%, 10/1/2049 | &nbsp;&nbsp; 1617997 |
| &nbsp;&nbsp; 1000000 | Lee County, FL IDA (Cypress Cove at Healthpark), Healthcare Facilities Revenue Bonds (Series 2022A), 5.250%, 10/1/2057 | &nbsp;&nbsp; 849346 |
| &nbsp;&nbsp; 1000000 | LT Ranch, FL CDD (LT Ranch, FL CDD Phase IIA Assessment Area), Capital Improvement Revenue Bonds Phase IIA <br> (Series 2022-2), (Original Issue Yield: 5.740%), 5.700%, 5/1/2053<br>| &nbsp;&nbsp; 1010139 |
| &nbsp;&nbsp; 500000 | LT Ranch, FL CDD (LT Ranch, FL CDD Phase IIB Assessment Area), Capital Improvement Revenue Bonds Phase IIB <br> (Series 2024), 5.500%, 5/1/2044<br>| &nbsp;&nbsp; 492082 |
| &nbsp;&nbsp; 500000 | LT Ranch, FL CDD (LT Ranch, FL CDD Phase IIB Assessment Area), Capital Improvement Revenue Bonds Phase IIB <br> (Series 2024), 5.850%, 5/1/2054<br>| &nbsp;&nbsp; 490917 |
| &nbsp;&nbsp; 825000 | LT Ranch, FL CDD, Capital Improvement Revenue Bonds Phase IIB Assessment Area (Series 2019), 4.000%, 5/1/2050 | &nbsp;&nbsp; 663055 |
| &nbsp;&nbsp; 1500000 | Miami-Dade County, FL Aviation, Aviation Revenue Bonds (Series 2025A), 5.500%, 10/1/2055 | &nbsp;&nbsp; 1530127 |
| &nbsp;&nbsp; 2000000 | Miami-Dade County, FL Aviation, Aviation Revenue Refunding Bonds (Series 2017B), 5.000%, 10/1/2040 | &nbsp;&nbsp; 1993883 |

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**3**

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| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **Florida—continued** |  |
| $1000000 | North River Ranch Improvement Stewardship District, Special Assessment Revenue Bonds (Series 2023A-1), <br> 5.800%, 5/1/2043<br>| &nbsp;&nbsp; $990180 |
| &nbsp;&nbsp; 1000000 | North River Ranch Improvement Stewardship District, Special Assessment Revenue Bonds (Series 2023A-1), <br> 6.000%, 5/1/2054<br>| &nbsp;&nbsp; 988786 |
| &nbsp;&nbsp; 1000000 | Orange County, FL, Health Facilities Authority (Orlando Health Obligated Group), Hospital Revenue Bonds (Series 2025A), <br> 5.250%, 10/1/2056<br>| &nbsp;&nbsp; 1004178 |
| &nbsp;&nbsp; 1750000<br><sup>1,2,3</sup> <br>| Polk County, FL IDA (Mineral Development, LLC), Secondary Phosphate Tailings Recovery Project Revenue Bonds <br> (Series 2020), 5.875%, 1/1/2033<br>| &nbsp;&nbsp; 1015000 |
| &nbsp;&nbsp; 145000<br><sup>1,2</sup> <br>| Reunion, FL East CDD, Special Assessment Bonds (Series 2002A-1), 7.375%, 5/1/2033 | &nbsp;&nbsp; 1 |
| &nbsp;&nbsp; 1125000 | River Landing CDD, Capital Improvement Revenue Bonds (Series 2020A), (Original Issue Yield: 4.360%), 4.350%, 5/1/2051 | &nbsp;&nbsp; 938676 |
| &nbsp;&nbsp; 900000 | Rivers Edge III CDD, Capital Improvement Revenue Bonds (Series 2021), 4.000%, 5/1/2051 | &nbsp;&nbsp; 687684 |
| &nbsp;&nbsp; 1250000 | Seminole County, FL IDA (Legacy Pointe at UCF), Retirement Facilities Revenue Bonds (Series 2019A), 5.750%, 11/15/2054 | &nbsp;&nbsp; 1165272 |
| &nbsp;&nbsp; 1000000 | Shadowlawn, FL CDD, Special Assessment Revenue Bonds (Series 2024), 5.850%, 5/1/2054 | &nbsp;&nbsp; 955418 |
| &nbsp;&nbsp; 585000 | Southern Grove, FL CDD #5, Special Assessment District Revenue Refunding Bonds (Series 2019), 4.000%, 5/1/2043 | &nbsp;&nbsp; 493558 |
| &nbsp;&nbsp; 495000 | Talavera, FL CDD, Capital Improvement Revenue Bonds (Series 2019), 4.350%, 5/1/2040 | &nbsp;&nbsp; 447860 |
| &nbsp;&nbsp; 770000 | Talavera, FL CDD, Capital Improvement Revenue Bonds (Series 2019), 4.500%, 5/1/2050 | &nbsp;&nbsp; 657923 |
| &nbsp;&nbsp; 2000000 | Tampa Bay, FL Water Utility System, Revenue Bonds (Series 2024A), 5.250%, 10/1/2054 | &nbsp;&nbsp; 2087603 |
| &nbsp;&nbsp; 600000 | Three Rivers CDD, Special Assessment Refunding Bonds (Series 2023), (Original Issue Yield: 5.600%), 5.550%, 5/1/2043 | &nbsp;&nbsp; 596005 |
| &nbsp;&nbsp; 600000 | Three Rivers CDD, Special Assessment Refunding Bonds (Series 2023), (Original Issue Yield: 5.800%), 5.750%, 5/1/2053 | &nbsp;&nbsp; 591708 |
| &nbsp;&nbsp; 900000 | Tolomato, FL CDD, Special Assessment Refunding Bonds (Series 2019C), 4.400%, 5/1/2040 | &nbsp;&nbsp; 846362 |
| &nbsp;&nbsp; 1000000 | Tolomato, FL CDD, Special Assessment Refunding Bonds Subordinate Lien (Series 2019A-2), 4.250%, 5/1/2037 | &nbsp;&nbsp; 969497 |
| &nbsp;&nbsp; 1400000 | Tradition CDD No. 9, Special Assessment Community Infrastructure Bonds (Series 2021), 4.000%, 5/1/2052 | &nbsp;&nbsp; 1082549 |
| &nbsp;&nbsp; 1250000 | Venice, FL (Village on the Isle), Retirement Community Revenue Improvement Bonds (Series 2024), 5.625%, 1/1/2060 | &nbsp;&nbsp; 1179771 |
| &nbsp;&nbsp; 825000 | Verandah West, FL CDD, Capital Improvement Revenue Refunding Bonds (Series 2013), (Original Issue Yield: 5.125%), <br> 5.000%, 5/1/2033<br>| &nbsp;&nbsp; 825309 |
| &nbsp;&nbsp; 1500000 | Viera Stewardship District (Viera Stewardship District Village 2), Special Assessment Revenue Bonds (Series 2021), <br> 4.000%, 5/1/2053<br>| &nbsp;&nbsp; 1133732 |
| &nbsp;&nbsp; 2000000 | Willow Walk, FL CDD, Special Assessment Bonds (Series 2015), 5.625%, 5/1/2045 | &nbsp;&nbsp; 2000179 |
| &nbsp;&nbsp; 1330000 | Windward at Lakewood Ranch, FL CDD, Capital Improvement Revenue Bonds (Series 2022), 4.250%, 5/1/2052 | &nbsp;&nbsp; 1054023 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 49108476 |
|  | **Georgia—2.4%** |  |
| &nbsp;&nbsp; 2000000 | Atlanta, GA Development Authority (Westside Gulch Area Project (Spring Street Atlanta)), Senior Revenue Bonds <br> (Series 2024A-2), 5.500%, 4/1/2039<br>| &nbsp;&nbsp; 2010260 |
| &nbsp;&nbsp; 1985000 | Fayette County, GA Development Authority (United States Soccer Federation, Inc.), Revenue Bonds (Series 2024), <br> 5.250%, 10/1/2054<br>| &nbsp;&nbsp; 1996177 |
| &nbsp;&nbsp; 1000000 | Fulton County, GA Residential Care Facilities (Lenbrook Square Foundation, Inc.), Retirement Facility Refunding Revenue <br> Bonds (Series 2016), 5.000%, 7/1/2036<br>| &nbsp;&nbsp; 1001136 |
| &nbsp;&nbsp; 3000000 | Metropolitan Atlanta Rapid Transit Authority, GA, Sales Tax Revenue Bonds (Series 2025A), 5.000%, 7/1/2055 | &nbsp;&nbsp; 3081463 |
| &nbsp;&nbsp; 475000 | Municipal Electric Authority of Georgia, Plant Vogtle Units 3&4 Project M Bonds (Series 2021A), 5.000%, 1/1/2056 | &nbsp;&nbsp; 466694 |
| &nbsp;&nbsp; 1500000 | Municipal Electric Authority of Georgia, Plant Vogtle Units 3&4 Project M Revenue Refunding Bonds (Series 2023A), <br> 5.250%, 7/1/2064<br>| &nbsp;&nbsp; 1532522 |
| &nbsp;&nbsp; 500000 | Rockdale County, GA Development Authority (Pratt Industries, Inc.), Revenue Refunding Bonds (Series 2018), <br> 4.000%, 1/1/2038<br>| &nbsp;&nbsp; 460043 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 10548295 |
|  | **Hawaii—0.2%** |  |
| &nbsp;&nbsp; 750000 | Hawaii State (Hawaii State Airports System), Revenue Bonds (Series 2025A), 5.500%, 7/1/2054 | &nbsp;&nbsp; 776796 |
|  | **Idaho—1.1%** |  |
| &nbsp;&nbsp; 2000000 | Idaho Health Facilities Authority (North Canyon Medical Center), Revenue and Refunding Bonds (Series 2023), <br> 7.125%, 11/1/2057<br>| &nbsp;&nbsp; 2098001 |
| &nbsp;&nbsp; 3000000 | Idaho Health Facilities Authority (Terraces of Boise), Exchange Revenue Refunding Bonds (Series 2021A), 4.550%, 10/1/2056 | &nbsp;&nbsp; 2350258 |
| &nbsp;&nbsp; 490000 | Idaho Health Facilities Authority (Terraces of Boise), Taxable Exchange Revenue Refunding Bonds (Series 2021B), <br> 8.000%, 10/1/2028<br>| &nbsp;&nbsp; 481607 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 4929866 |

---

**4**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **Illinois—7.4%** |  |
| $2000000 | Chicago, IL Board of Education, UT GO Bonds (Series 2023A), 6.000%, 12/1/2049 | &nbsp;&nbsp; $2087473 |
| &nbsp;&nbsp; 3300000 | Chicago, IL Board of Education, UT GO Dedicated Revenue Bonds (Series 2017A), (Original Issue Yield: 7.650%), <br> 7.000%, 12/1/2046<br>| &nbsp;&nbsp; 3395205 |
| &nbsp;&nbsp; 1000000 | Chicago, IL Midway Airport, Senior Lien Airport Revenue and Revenue Refunding Bonds (Series 2023A), 5.750%, 1/1/2048 | &nbsp;&nbsp; 1051821 |
| &nbsp;&nbsp; 1125000 | Chicago, IL O'Hare International Airport (TrIPs Obligated Group), Senior Special Facilities Revenue Bonds (Series 2018), <br> 5.000%, 7/1/2048<br>| &nbsp;&nbsp; 1070033 |
| &nbsp;&nbsp; 1000000 | Chicago, IL O'Hare International Airport, General Airport Senior Lien Revenue Bonds (Series 2022A), 5.500%, 1/1/2055 | &nbsp;&nbsp; 1024086 |
| &nbsp;&nbsp; 1250000 | Chicago, IL O'Hare International Airport, General Airport Senior Lien Revenue Bonds (Series 2024A), 5.500%, 1/1/2059 | &nbsp;&nbsp; 1287474 |
| &nbsp;&nbsp; 1000000 | Chicago, IL Transit Authority, Sales Tax Receipt Revenue Refunding Bonds (Series 2024A), 5.000%, 12/1/2049 | &nbsp;&nbsp; 995979 |
| &nbsp;&nbsp; 1475000 | Chicago, IL, UT GO Bonds (Series 2019A), 5.500%, 1/1/2049 | &nbsp;&nbsp; 1442486 |
| &nbsp;&nbsp; 1250000 | Chicago, IL, UT GO Bonds (Series 2023A), 5.500%, 1/1/2039 | &nbsp;&nbsp; 1286796 |
| &nbsp;&nbsp; 3700000 | Chicago, IL, UT GO Bonds (Series 2024A), 5.250%, 1/1/2045 | &nbsp;&nbsp; 3617028 |
| &nbsp;&nbsp; 313000 | DuPage County, IL (Naperville Campus LLC), Special Tax Bonds (Series 2006), 5.625%, 3/1/2036 | &nbsp;&nbsp; 306732 |
| &nbsp;&nbsp; 2000000 | Illinois Finance Authority (Admiral at the Lake), Revenue Refunding Bonds (Series 2017), (Original Issue Yield: 5.350%), <br> 5.250%, 5/15/2042<br>| &nbsp;&nbsp; 1618684 |
| &nbsp;&nbsp; 815000 | Illinois Finance Authority (Rogers Park Montessori School Project), Senior Revenue Bonds (Series 2014A), 6.125%, 2/1/2045 | &nbsp;&nbsp; 814979 |
| &nbsp;&nbsp; 8000000 | Illinois State, UT GO Bonds (Series 2017D), 5.000%, 11/1/2028 | &nbsp;&nbsp; 8265999 |
| &nbsp;&nbsp; 1000000 | Illinois State, UT GO Bonds (Series 2022A), 5.500%, 3/1/2042 | &nbsp;&nbsp; 1045831 |
| &nbsp;&nbsp; 530000 | Illinois State, UT GO Bonds (Series 2023B), 5.500%, 5/1/2047 | &nbsp;&nbsp; 542981 |
| &nbsp;&nbsp; 1000000 | Illinois State, UT GO Bonds (Series 2024B), 5.250%, 5/1/2045 | &nbsp;&nbsp; 1019856 |
| &nbsp;&nbsp; 2000000<br><sup>4</sup> <br>| Metropolitan Pier & Exposition Authority, IL, McCormick Place Expansion Project Bonds (Series 2017A), (Original Issue Yield: <br> 5.250%), 0.000%, 12/15/2056<br>| &nbsp;&nbsp; 342625 |
| &nbsp;&nbsp; 1500000 | Metropolitan Pier & Exposition Authority, IL, McCormick Place Expansion Project Bonds (Series 2024B), 5.000%, 6/15/2053 | &nbsp;&nbsp; 1438780 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 32654848 |
|  | **Indiana—1.4%** |  |
| &nbsp;&nbsp; 915000 | Indiana State Finance Authority (KIPP Indianapolis), Revenue Bonds (Series 2020A), 5.000%, 7/1/2055 | &nbsp;&nbsp; 818039 |
| &nbsp;&nbsp; 1000000 | Indiana State Finance Authority Hospital Revenue (Methodist Hospital of Indiana), Hospital Revenue Refunding Bonds <br> (Series 2024A), 5.500%, 9/15/2044<br>| &nbsp;&nbsp; 1013019 |
| &nbsp;&nbsp; 1670000 | Indianapolis, IN Local Public Improvement Bond Bank (Indiana Convention Center Hotel), Senior Revenue Bonds <br> (Series 2023E), (Original Issue Yield: 6.170%), 6.000%, 3/1/2053<br>| &nbsp;&nbsp; 1729439 |
| &nbsp;&nbsp; 1000000 | Indianapolis, IN Local Public Improvement Bond Bank (Indiana Convention Center Hotel), Senior Revenue Bonds <br> (Series 2023E), (Original Issue Yield: 6.270%), 6.125%, 3/1/2057<br>| &nbsp;&nbsp; 1037272 |
| &nbsp;&nbsp; 1000000 | Indianapolis, IN Local Public Improvement Bond Bank (Indiana Convention Center Hotel), Subordinate Revenue Bonds <br> (Series 2023F-2), (Original Issue Yield: 8.200%), 7.750%, 3/1/2067<br>| &nbsp;&nbsp; 1088600 |
| &nbsp;&nbsp; 750000 | Valparaiso, IN (Pratt Paper (IN), LLC), Exempt Facilities Revenue Bonds (Series 2024), 5.000%, 1/1/2054 | &nbsp;&nbsp; 693885 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 6380254 |
|  | **Iowa—1.3%** |  |
| &nbsp;&nbsp; 2930000 | Iowa Finance Authority (Iowa Fertilizer Co. LLC), Midwestern Disaster Area Revenue Refunding Bonds (Series 2022), (United <br> States Treasury PRF 12/1/2032@100), 5.000%, 12/1/2050<br>| &nbsp;&nbsp; 3291820 |
| &nbsp;&nbsp; 2930000 | Tobacco Settlement Financing Corp., IA, Tobacco Settlement Asset-Backed Senior Current Interest Bonds <br> (Series 2021A-2 Class 1), 4.000%, 6/1/2049<br>| &nbsp;&nbsp; 2486476 |
| &nbsp;&nbsp; 50000 | Tobacco Settlement Financing Corp., IA, Tobacco Settlement Asset-Backed Senior Current Interest Bonds <br> (Series 2021B-1 Class 2), 4.000%, 6/1/2049<br>| &nbsp;&nbsp; 50000 |
| &nbsp;&nbsp; 10000 | Xenia Rural Water District, Water Revenue Refunding Capital Loan Notes (Series 2016), (United States Treasury PRF <br> 12/1/2026@100), 5.000%, 12/1/2041<br>| &nbsp;&nbsp; 10312 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 5838608 |
|  | **Kentucky—1.2%** |  |
| &nbsp;&nbsp; 375000 | Henderson, KY (Pratt Industries, Inc.), Exempt Facilities Revenue Bonds (Series 2022), 4.700%, 1/1/2052 | &nbsp;&nbsp; 333364 |
| &nbsp;&nbsp; 650000 | Kenton County, KY Airport Board (Cincinnati/Northern Kentucky International Airport), Revenue Bonds (Series 2024A), <br> 5.250%, 1/1/2054<br>| &nbsp;&nbsp; 655647 |
| &nbsp;&nbsp; 1000000 | Kentucky Economic Development Finance Authority (Miralea), Revenue Bonds (Series 2016A), 5.000%, 5/15/2046 | &nbsp;&nbsp; 769453 |
| &nbsp;&nbsp; 2000000 | Kentucky Economic Development Finance Authority (Miralea), Revenue Bonds (Series 2016A), 5.000%, 5/15/2051 | &nbsp;&nbsp; 1463539 |
| &nbsp;&nbsp; 1000000 | Louisville & Jefferson County, KY Metropolitan Government (Norton Healthcare, Inc.), Health System Revenue Bonds <br> (Series 2023A), 5.000%, 10/1/2040<br>| &nbsp;&nbsp; 1029199 |

---

**5**

------

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| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **Kentucky—continued** |  |
| $1000000 | Louisville & Jefferson County, KY Metropolitan Government (Norton Healthcare, Inc.), Health System Revenue Bonds <br> (Series 2023A), 5.000%, 10/1/2041<br>| &nbsp;&nbsp; $1022015 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 5273217 |
|  | **Louisiana—2.1%** |  |
| &nbsp;&nbsp; 1000000 | Calcasieu Parish, LA Memorial Hospital Service District (Lake Charles Memorial Hospital), Hospital Revenue Refunding Bonds <br> (Series 2019), 5.000%, 12/1/2039<br>| &nbsp;&nbsp; 937883 |
| &nbsp;&nbsp; 1000000 | Louisiana Public Facilities Authority (Calcasieu Bridge Partners LLC), I-10 Calcasieu River Bridge Senior Lien Revenue Bonds <br> (Series 2024), 5.500%, 9/1/2054<br>| &nbsp;&nbsp; 1017884 |
| &nbsp;&nbsp; 1000000 | Louisiana Public Facilities Authority (Calcasieu Bridge Partners LLC), I-10 Calcasieu River Bridge Senior Lien Revenue Bonds <br> (Series 2024), 5.500%, 9/1/2059<br>| &nbsp;&nbsp; 1015595 |
| &nbsp;&nbsp; 30000 | Louisiana Public Facilities Authority (Ochsner Clinic Foundation Obligated Group), Refunding Revenue Bonds (Series 2016), <br> (United States Treasury PRF 5/15/2026@100), 5.000%, 5/15/2047<br>| &nbsp;&nbsp; 30528 |
| &nbsp;&nbsp; 970000 | Louisiana Public Facilities Authority (Ochsner Clinic Foundation Obligated Group), Refunding Revenue Bonds (Series 2016), <br> 5.000%, 5/15/2047<br>| &nbsp;&nbsp; 939065 |
| &nbsp;&nbsp; 600000 | Louisiana Stadium and Exposition District, Senior Revenue Bonds (Series 2023A), 5.000%, 7/1/2048 | &nbsp;&nbsp; 604577 |
| &nbsp;&nbsp; 2000000 | Louisiana Stadium and Exposition District, Senior Revenue Bonds (Series 2023A), 5.250%, 7/1/2053 | &nbsp;&nbsp; 2036634 |
| &nbsp;&nbsp; 1700000 | New Orleans, LA Aviation Board (New Orleans, LA International Airport), General Airport Revenue Refunding Bonds <br> (Series 2024B), 5.250%, 1/1/2045<br>| &nbsp;&nbsp; 1723831 |
| &nbsp;&nbsp; 1000000 | St. James Parish, LA (NuStar Logistics LP), Revenue Bonds (Series 2008), 6.100%, Mandatory Tender 6/1/2030 | &nbsp;&nbsp; 1063059 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 9369056 |
|  | **Maine—0.1%** |  |
| &nbsp;&nbsp; 500000<br><sup>3</sup> <br>| Maine State Finance Authority Solid Waste Disposal (Casella Waste Systems, Inc.), Solid Waste Disposal Revenue Bonds <br> (Series 2024), 4.625%, Mandatory Tender 6/1/2035<br>| &nbsp;&nbsp; 486828 |
|  | **Maryland—1.3%** |  |
| &nbsp;&nbsp; 955000 | Baltimore, MD (East Baltimore Research Park), Special Obligation Revenue Refunding Bonds (Series 2017A), <br> 5.000%, 9/1/2038<br>| &nbsp;&nbsp; 953554 |
| &nbsp;&nbsp; 500000 | Baltimore, MD (Harbor Point), Special Obligation Refunding Bonds (Series 2016), (Original Issue Yield: 5.160%), <br> 5.125%, 6/1/2043<br>| &nbsp;&nbsp; 481304 |
| &nbsp;&nbsp; 1765000 | Frederick County, MD (Jefferson Technology Park), Tax Increment & Special Tax Limited Obligation Refunding Bonds <br> (Series 2020B), 4.625%, 7/1/2043<br>| &nbsp;&nbsp; 1621799 |
| &nbsp;&nbsp; 1000000 | Maryland State Economic Development Corp. (Port Covington District), Special Obligation Bonds (Series 2020), <br> 4.000%, 9/1/2050<br>| &nbsp;&nbsp; 802451 |
| &nbsp;&nbsp; 1000000 | Rockville, MD Mayor & City Council (Ingleside at King Farm), Economic Development Revenue Bonds (Series 2017B), <br> 5.000%, 11/1/2042<br>| &nbsp;&nbsp; 920650 |
| &nbsp;&nbsp; 1000000 | Westminster, MD (Lutheran Village at Miller's Grant, Inc.), Revenue Bonds (Series 2014A), (Original Issue Yield: 6.300%), <br> 6.250%, 7/1/2044<br>| &nbsp;&nbsp; 979888 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 5759646 |
|  | **Massachusetts—0.6%** |  |
| &nbsp;&nbsp; 1540000 | Commonwealth of Massachusetts, UT GO Bonds (Series 2024B), 5.000%, 5/1/2054 | &nbsp;&nbsp; 1565172 |
| &nbsp;&nbsp; 1000000 | Massachusetts Development Finance Agency (UMass Memorial Health Care Obligated Group), Revenue Bonds <br> (Series 2025N-1), 5.250%, 7/1/2050<br>| &nbsp;&nbsp; 1008621 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 2573793 |
|  | **Michigan—1.0%** |  |
| &nbsp;&nbsp; 1250000 | Detroit, MI Downtown Development Authority, Tax Increment Revenue Refunding Bonds Catalyst Development Project <br> (Series 2024), 5.000%, 7/1/2048<br>| &nbsp;&nbsp; 1258374 |
| &nbsp;&nbsp; 1000000 | Detroit, MI, UT GO Bonds (Series 2020), 5.500%, 4/1/2050 | &nbsp;&nbsp; 1013664 |
| &nbsp;&nbsp; 250000 | Detroit, MI, UT GO Bonds (Series 2023A), 6.000%, 5/1/2043 | &nbsp;&nbsp; 269787 |
| &nbsp;&nbsp; 1000000 | Michigan State Finance Authority (Provident Group - HFH Energy LLC), Act 38 Facilities Senior Revenue Bonds (Series 2024), <br> 5.500%, 2/28/2057<br>| &nbsp;&nbsp; 1036098 |
| &nbsp;&nbsp; 1500000<br><sup>1,2</sup> <br>| Plymouth, MI Educational Center Charter School, Public School Academy Revenue Refunding Bonds, Series 2005, <br> 5.625%, 11/1/2035<br>| &nbsp;&nbsp; 750000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 4327923 |
|  | **Minnesota—2.5%** |  |
| &nbsp;&nbsp; 750000 | Baytown Township, MN (St. Croix Preparatory Academy), Charter School Lease Revenue Refunding Bonds (Series 2016A), <br> 4.000%, 8/1/2041<br>| &nbsp;&nbsp; 627558 |

---

**6**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **Minnesota—continued** |  |
| $1100000 | Baytown Township, MN (St. Croix Preparatory Academy), Charter School Lease Revenue Refunding Bonds (Series 2016A), <br> 4.250%, 8/1/2046<br>| &nbsp;&nbsp; $900991 |
| &nbsp;&nbsp; 1700000 | Forest Lake, MN (Lakes International Language Academy), Charter School Lease Revenue Bonds (Series 2014A), <br> 5.750%, 8/1/2044<br>| &nbsp;&nbsp; 1700207 |
| &nbsp;&nbsp; 1000000 | Forest Lake, MN (Lakes International Language Academy), Charter School Lease Revenue Bonds (Series 2018A), <br> 5.375%, 8/1/2050<br>| &nbsp;&nbsp; 963694 |
| &nbsp;&nbsp; 3000000<br><sup>3</sup> <br>| Minneapolis, MN Charter School Lease Revenue (Twin Cities International School), (Series 2017A), (Original Issue Yield: <br> 5.150%), 5.000%, 12/1/2047<br>| &nbsp;&nbsp; 2652729 |
| &nbsp;&nbsp; 2000000 | St. Cloud, MN (Stride Academy), Lease Revenue Bonds (Series 2016A), 5.000%, 4/1/2046 | &nbsp;&nbsp; 1586609 |
| &nbsp;&nbsp; 2000000 | St. Paul, MN Housing & Redevelopment Authority (Twin Cities Academy), Charter School Lease Revenue Bonds <br> (Series 2015A), 5.375%, 7/1/2050<br>| &nbsp;&nbsp; 1915417 |
| &nbsp;&nbsp; 325000 | Winona, MN Port Authority (Bluffview Montessori School Project), Lease Revenue Bonds (Series 2016A), 4.500%, 6/1/2036 | &nbsp;&nbsp; 286200 |
| &nbsp;&nbsp; 750000 | Winona, MN Port Authority (Bluffview Montessori School Project), Lease Revenue Bonds (Series 2016A), 4.750%, 6/1/2046 | &nbsp;&nbsp; 605891 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 11239296 |
|  | **Mississippi—0.4%** |  |
| &nbsp;&nbsp; 2000000 | Gulfport, Mississippi (Memorial Hospital at Gulfport Project), Hospital Revenue Bonds (Series 2025), 5.500%, 7/1/2055 | &nbsp;&nbsp; 2028912 |
|  | **Missouri—0.6%** |  |
| &nbsp;&nbsp; 2000000<br><sup>3</sup> <br>| Kansas City, MO Redevelopment Authority (Kansas City Convention Center Headquarters Hotel CID), Revenue Bonds <br> (Series 2018B), (Original Issue Yield: 5.079%), 5.000%, 2/1/2050<br>| &nbsp;&nbsp; 1867840 |
| &nbsp;&nbsp; 1000000 | Kirkwood, MO IDA (Aberdeen Heights Project), Retirement Community Revenue Bonds (Series 2017A), 5.250%, 5/15/2050 | &nbsp;&nbsp; 828703 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 2696543 |
|  | **Montana—0.5%** |  |
| &nbsp;&nbsp; 900000 | Kalispell, MT Housing and Healthcare Facilities (Immanuel Lutheran Corp.), Revenue Bonds (Series 2017A), <br> 5.250%, 5/15/2047<br>| &nbsp;&nbsp; 800735 |
| &nbsp;&nbsp; 1425000 | Kalispell, MT Housing and Healthcare Facilities (Immanuel Lutheran Corp.), Revenue Bonds (Series 2017A), <br> 5.250%, 5/15/2052<br>| &nbsp;&nbsp; 1232547 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 2033282 |
|  | **Nevada—1.8%** |  |
| &nbsp;&nbsp; 2000000<br><sup>3</sup> <br>| Director of the State of Nevada Department of Business and Industry (Brightline West Passenger Rail Project), Senior <br> Subordinated Secured Revenue Bonds (Series 2025A), (Original Issue Yield: 10.154%), 9.500%, Mandatory Tender 1/1/2033<br>| &nbsp;&nbsp; 1907507 |
| &nbsp;&nbsp; 905000<br><sup>3</sup> <br>| Director of the State of Nevada Department of Business and Industry (Doral Academy of Nevada CS), Charter School <br> Revenue Bonds (Series 2017A), 5.000%, 7/15/2047<br>| &nbsp;&nbsp; 807754 |
| &nbsp;&nbsp; 1000000<br><sup>3</sup> <br>| Director of the State of Nevada Department of Business and Industry (Somerset Academy of Las Vegas), Charter School <br> Lease Revenue Bonds (Series 2018A), 5.000%, 12/15/2038<br>| &nbsp;&nbsp; 974000 |
| &nbsp;&nbsp; 10000 | Las Vegas, NV (Las Vegas, NV SID No. 613) (Las Vegas, NV SID No. 611), Sunstone Phase I and II Local Improvement Bonds <br> (Series 2020), (Original Issue Yield: 4.170%), 4.125%, 6/1/2050<br>| &nbsp;&nbsp; 8005 |
| &nbsp;&nbsp; 480000 | Las Vegas, NV (Las Vegas, NV SID No. 613) (Summerlin Village 25 SID No. 815), Local Improvement Bonds (Series 2020), <br> 5.000%, 12/1/2049<br>| &nbsp;&nbsp; 448671 |
| &nbsp;&nbsp; 450000 | Las Vegas, NV (Las Vegas, NV SID No. 613), Sunstone Phases III and IV Local Improvement Bonds (Series 2024), (Original <br> Issue Yield: 5.330%), 5.250%, 12/1/2047<br>| &nbsp;&nbsp; 430058 |
| &nbsp;&nbsp; 500000 | Las Vegas, NV (Las Vegas, NV SID No. 613), Sunstone Phases III and IV Local Improvement Bonds (Series 2024), <br> 5.500%, 12/1/2053<br>| &nbsp;&nbsp; 486933 |
| &nbsp;&nbsp; 1145000 | Las Vegas, NV SID No. 814 (Summerlin Villages 21 & 24A), Local Improvement Bonds (Series 2019), 4.000%, 6/1/2049 | &nbsp;&nbsp; 913083 |
| &nbsp;&nbsp; 630000 | North Las Vegas, NV SID No. 64 (Valley Vista), Local Improvement Bonds (Series 2019), 4.625%, 6/1/2049 | &nbsp;&nbsp; 552825 |
| &nbsp;&nbsp; 1500000 | Reno-Tahoe Airport Authority (Reno-Tahoe International Airport), Airport Revenue Bonds (Series 2024A), 5.250%, 7/1/2054 | &nbsp;&nbsp; 1504989 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 8033825 |
|  | **New Hampshire—1.3%** |  |
| &nbsp;&nbsp; 900000<br><sup>3</sup> <br>| National Finance Authority, NH (Bridgeland Water & Utility District 490, 491, & 158), Special Revenue Bonds (Series 2024), <br> 5.375%, 12/15/2035<br>| &nbsp;&nbsp; 894825 |
| &nbsp;&nbsp; 900000<br><sup>3</sup> <br>| National Finance Authority, NH (Highlands Project MUDs), Special Revenue Bonds (Series 2024), 5.125%, 12/15/2030 | &nbsp;&nbsp; 897660 |
| &nbsp;&nbsp; 1000000 | National Finance Authority, NH (Princeton Area Projects MUD), Special Revenue Bonds (Series 2025), 5.500%, 12/1/2030 | &nbsp;&nbsp; 1005853 |
| &nbsp;&nbsp; 100000 | National Finance Authority, NH (Reworld Holding Corp.), Resource Recovery Revenue Refunding Bonds (Series 2020B), <br> 3.750%, Mandatory Tender 7/2/2040<br>| &nbsp;&nbsp; 81562 |
| &nbsp;&nbsp; 1000000 | National Finance Authority, NH (Winston-Salem Sustainable Energy Partners LLC), Revenue Bonds (Series 2025A), <br> 5.500%, 6/1/2055<br>| &nbsp;&nbsp; 1029033 |

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**7**

------

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| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **New Hampshire—continued** |  |
| $978751 | National Finance Authority, NH, Municipal Certificates (Series 2023-2 Class A), (Original Issue Yield: 4.650%), <br> 3.875%, 1/20/2038<br>| &nbsp;&nbsp; $894556 |
| &nbsp;&nbsp; 493427 | National Finance Authority, NH, Municipal Certificates (Series 2024-1 Class A), (Original Issue Yield: 4.510%), <br> 4.250%, 7/20/2041<br>| &nbsp;&nbsp; 457255 |
| &nbsp;&nbsp; 499283 | National Finance Authority, NH, Municipal Certificates (Series 2025-1 Class A-1), (Original Issue Yield: 4.510%), <br> 4.168%, 1/20/2041<br>| &nbsp;&nbsp; 464394 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 5725138 |
|  | **New Jersey—2.4%** |  |
| &nbsp;&nbsp; 180000 | New Jersey EDA (New Jersey State), School Facilities Construction Bonds (Series 2015 WW), (United States Treasury PRF <br> 6/15/2025@100), 5.250%, 6/15/2040<br>| &nbsp;&nbsp; 180142 |
| &nbsp;&nbsp; 185000 | New Jersey EDA (New Jersey State), School Facilities Construction Refunding Bonds (Series 2018EEE), (United States <br> Treasury PRF 12/15/2028@100), 5.000%, 6/15/2043<br>| &nbsp;&nbsp; 198150 |
| &nbsp;&nbsp; 315000 | New Jersey EDA (New Jersey State), School Facilities Construction Refunding Bonds (Series 2018EEE), 5.000%, 6/15/2043 | &nbsp;&nbsp; 315869 |
| &nbsp;&nbsp; 1335000 | New Jersey EDA (Port Newark Container Terminal LLC), Special Facilities Revenue and Refunding Bonds (Series 2017), <br> 5.000%, 10/1/2047<br>| &nbsp;&nbsp; 1269572 |
| &nbsp;&nbsp; 1500000<br><sup>3</sup> <br>| New Jersey EDA (Repauno Port & Rail Terminal), Dock and Wharf Facility Revenue Bonds (Series 2025), (Original Issue Yield: <br> 6.516%), 6.375%, 1/1/2035<br>| &nbsp;&nbsp; 1517940 |
| &nbsp;&nbsp; 1000000 | New Jersey EDA (UMM Energy Partners LLC), Energy Facility Revenue Bonds (Series 2012A), (Original Issue Yield: 5.190%), <br> 5.125%, 6/15/2043<br>| &nbsp;&nbsp; 946642 |
| &nbsp;&nbsp; 575000 | New Jersey State Transportation Trust Fund Authority (New Jersey State), Transportation System Bonds (Series 2018A), <br> 5.000%, 12/15/2034<br>| &nbsp;&nbsp; 592468 |
| &nbsp;&nbsp; 1000000 | Newark, NJ, Mass Transit Access Tax Revenue Bonds (Series 2022), (Assured Guaranty, Inc. INS), 6.000%, 11/15/2062 | &nbsp;&nbsp; 1094563 |
| &nbsp;&nbsp; 500000 | South Jersey Port Corp., Subordinate Marine Terminal Revenue Bonds (Series 2017B), 5.000%, 1/1/2048 | &nbsp;&nbsp; 476373 |
| &nbsp;&nbsp; 4005000 | Tobacco Settlement Financing Corp., NJ, Tobacco Settlement Asset-Backed Subordinate Refunding Bonds (Series 2018B), <br> 5.000%, 6/1/2046<br>| &nbsp;&nbsp; 3839637 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 10431356 |
|  | **New York—8.5%** |  |
| &nbsp;&nbsp; 1835000 | Albany Capital Resource Corporation (KIPP Capital Region Public Charter Schools), Revenue Bonds (Series 2024), <br> 5.000%, 6/1/2064<br>| &nbsp;&nbsp; 1704737 |
| &nbsp;&nbsp; 900000<br><sup>3</sup> <br>| Build NYC Resource Corporation (Albert Einstein School of Medicine, Inc.), Revenue Bonds (Series 2015), 5.500%, 9/1/2045 | &nbsp;&nbsp; 900360 |
| &nbsp;&nbsp; 1000000 | Build NYC Resource Corporation (KIPP NYC Canal West), Revenue Bonds (Series 2022), 5.250%, 7/1/2062 | &nbsp;&nbsp; 975947 |
| &nbsp;&nbsp; 1000000 | Build NYC Resource Corporation (TrIPs Obligated Group), Senior Airport Facilities Revenue Bonds (Series 2025), <br> 5.500%, 7/1/2055<br>| &nbsp;&nbsp; 1009704 |
| &nbsp;&nbsp; 4455000<br><sup>4</sup> <br>| Glen Cove, NY Local Economic Assistance Corp. (Garvies Point Public Improvement Project), Capital Appreciation Revenue <br> Bonds (Series 2016B), (Original Issue Yield: 6.000%), 0.000%, 1/1/2045<br>| &nbsp;&nbsp; 1151139 |
| &nbsp;&nbsp; 1365028<br><sup>1,5</sup> <br>| Nassau County, NY IDA (Amsterdam at Harborside), Amsterdam at Harborside - Escrow, 5.000%, 12/31/2099 | &nbsp;&nbsp; 137 |
| &nbsp;&nbsp; 4000000 | New York City, NY Municipal Water Finance Authority, Water and Sewer System Second General Resolution Revenue Bonds <br> (Series 2025-BB), 5.250%, 6/15/2055<br>| &nbsp;&nbsp; 4160248 |
| &nbsp;&nbsp; 500000 | New York City, NY Transitional Finance Authority, Future Tax Secured Subordinate Bonds (Series 2020C-1), 4.000%, 5/1/2045 | &nbsp;&nbsp; 447132 |
| &nbsp;&nbsp; 3000000 | New York City, NY, UT GO Bonds (Series 2025C-1), 4.000%, 9/1/2052 | &nbsp;&nbsp; 2560246 |
| &nbsp;&nbsp; 1000000 | New York State Power Authority, Revenue Bonds (Series 2020A), 4.000%, 11/15/2060 | &nbsp;&nbsp; 834163 |
| &nbsp;&nbsp; 665000 | New York Transportation Development Corporation (American Airlines, Inc.), Special Facilities Revenue Refunding Bonds <br> (Series 2021), 3.000%, 8/1/2031<br>| &nbsp;&nbsp; 608749 |
| &nbsp;&nbsp; 1000000 | New York Transportation Development Corporation (Delta Air Lines, Inc.), LaGuardia Airport Terminals Special Facilities <br> Revenue Bonds (Series 2018), 5.000%, 1/1/2033<br>| &nbsp;&nbsp; 1007851 |
| &nbsp;&nbsp; 1500000 | New York Transportation Development Corporation (Delta Air Lines, Inc.), LaGuardia Airport Terminals Special Facilities <br> Revenue Bonds (Series 2020), (Original Issue Yield: 4.550%), 4.375%, 10/1/2045<br>| &nbsp;&nbsp; 1328495 |
| &nbsp;&nbsp; 2250000 | New York Transportation Development Corporation (Delta Air Lines, Inc.), LaGuardia Airport Terminals Special Facilities <br> Revenue Bonds (Series 2023), 6.000%, 4/1/2035<br>| &nbsp;&nbsp; 2442829 |
| &nbsp;&nbsp; 1000000 | New York Transportation Development Corporation (Empire State Thruway Partners LLC), Exempt Facility Revenue Bonds <br> (Series 2021), 4.000%, 10/31/2046<br>| &nbsp;&nbsp; 833575 |
| &nbsp;&nbsp; 2000000 | New York Transportation Development Corporation (JFK Airport Terminal 6 Redevelopment Project), Special Facilities <br> Revenue Bonds (Series 2024A), 5.500%, 12/31/2054<br>| &nbsp;&nbsp; 2002534 |
| &nbsp;&nbsp; 1800000 | New York Transportation Development Corporation (JFK International Air Terminal LLC), Special Facilities Revenue Bonds <br> (Series 2020C), 4.000%, 12/1/2040<br>| &nbsp;&nbsp; 1653798 |
| &nbsp;&nbsp; 1000000 | New York Transportation Development Corporation (JFK International Air Terminal LLC), Special Facilities Revenue Bonds <br> (Series 2022), 5.000%, 12/1/2041<br>| &nbsp;&nbsp; 1005487 |

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**8**

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| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **New York—continued** |  |
| $500000 | New York Transportation Development Corporation (JFK International Airport New Terminal One Project), Special Facilities <br> Revenue Bonds (Series 2023), 6.000%, 6/30/2054<br>| &nbsp;&nbsp; $524247 |
| &nbsp;&nbsp; 3000000 | New York Transportation Development Corporation (JFK International Airport New Terminal One Project), Special Facilities <br> Revenue Bonds (Series 2024), 5.500%, 6/30/2060<br>| &nbsp;&nbsp; 3003067 |
| &nbsp;&nbsp; 1000000 | Niagara Area, NY Development Corporation (Reworld Holding Corp.), Solid Waste Disposal Facility Revenue Refunding <br> Bonds (Series 2018A), 4.750%, 11/1/2042<br>| &nbsp;&nbsp; 906084 |
| &nbsp;&nbsp; 750000 | Onondaga, NY Civic Development Corporation (Crouse Health Hospital, Inc.), Revenue Refunding Bonds (Series 2024A), <br> (Original Issue Yield: 5.540%), 5.375%, 8/1/2054<br>| &nbsp;&nbsp; 644859 |
| &nbsp;&nbsp; 2100000 | Suffolk County, NY Off-Track Betting Corp., Revenue Bonds (Series 2024), (Original Issue Yield: 6.100%), 6.000%, 12/1/2053 | &nbsp;&nbsp; 2146398 |
| &nbsp;&nbsp; 2000000 | Triborough Bridge & Tunnel Authority, NY (Triborough Bridge & Tunnel Authority Real Estate Transfer Tax), TBTA Lockbox <br> Fund Revenue Bonds (Series 2025A), 5.500%, 12/1/2059<br>| &nbsp;&nbsp; 2109581 |
| &nbsp;&nbsp; 1000000 | TSASC, Inc., NY, Tobacco Settlement Asset Backed Senior Refunding Bonds (Series 2017A), 5.000%, 6/1/2041 | &nbsp;&nbsp; 973016 |
| &nbsp;&nbsp; 2850000 | TSASC, Inc., NY, Tobacco Settlement Asset Backed Subordinate Refunding Bonds (Series 2017B), 5.000%, 6/1/2048 | &nbsp;&nbsp; 2487092 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 37421475 |
|  | **North Carolina—0.7%** |  |
| &nbsp;&nbsp; 1665000 | North Carolina Medical Care Commission (Penick Village), Retirement Facilities First Mortgage Revenue Bonds (Series 2024), <br> 5.500%, 9/1/2054<br>| &nbsp;&nbsp; 1536960 |
| &nbsp;&nbsp; 1500000 | North Carolina State Turnpike Authority, Triangle Expressway System Senior Lien Turnpike Revenue Refunding Bonds <br> (Series 2024), (Assured Guaranty, Inc. INS), 5.000%, 1/1/2058<br>| &nbsp;&nbsp; 1482476 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 3019436 |
|  | **Ohio—2.6%** |  |
| &nbsp;&nbsp; 5600000 | Buckeye Tobacco Settlement Financing Authority, OH, Tobacco Settlement Asset-Backed Refunding Bonds <br> (Series 2020B-2 Class 2), 5.000%, 6/1/2055<br>| &nbsp;&nbsp; 4845367 |
| &nbsp;&nbsp; 1500000 | Columbus, OH Regional Airport Authority, Airport Revenue Bonds (Series 2025A), 5.500%, 1/1/2055 | &nbsp;&nbsp; 1544477 |
| &nbsp;&nbsp; 1000000 | Cuyahoga County, OH Hospital Authority (MetroHealth System), Hospital Revenue Bonds (Series 2017), 5.500%, 2/15/2052 | &nbsp;&nbsp; 976250 |
| &nbsp;&nbsp; 500000 | Montgomery County, OH (Solvita), Health Care Facilities Revenue Refunding and Improvement Bonds (Series 2024), <br> 5.250%, 9/1/2054<br>| &nbsp;&nbsp; 494317 |
| &nbsp;&nbsp; 2000000 | Muskingum County, OH (Genesis Healthcare Corp.), Hospital Facilities Revenue Bonds (Series 2013), (Original Issue Yield: <br> 5.080%), 5.000%, 2/15/2044<br>| &nbsp;&nbsp; 1884925 |
| &nbsp;&nbsp; 1000000 | Ohio Air Quality Development Authority (Pratt Paper (OH), LLC), Exempt Facilities Revenue Bonds (Series 2017), <br> 4.500%, 1/15/2048<br>| &nbsp;&nbsp; 878719 |
| &nbsp;&nbsp; 1000000 | Ohio State Treasurer (Portsmouth Gateway Group LLC), Private Activity Revenue Bonds (Series 2015), 5.000%, 6/30/2053 | &nbsp;&nbsp; 930652 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 11554707 |
|  | **Oklahoma—1.0%** |  |
| &nbsp;&nbsp; 2315000 | Oklahoma Development Finance Authority (OU Medicine), Hospital Revenue Bonds (Series 2018B), 5.500%, 8/15/2057 | &nbsp;&nbsp; 2257578 |
| &nbsp;&nbsp; 500000 | Trustees of the Tulsa Municipal Airport Trust (American Airlines, Inc.), Revenue Bonds (Series 2025), 6.250%, 12/1/2035 | &nbsp;&nbsp; 546666 |
| &nbsp;&nbsp; 1750000 | Tulsa County, OK Industrial Authority (Montereau, Inc.), Senior Living Community Revenue Refunding Bonds (Series 2017), <br> 5.250%, 11/15/2045<br>| &nbsp;&nbsp; 1694711 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 4498955 |
|  | **Oregon—0.9%** |  |
| &nbsp;&nbsp; 440000 | Clackamas County, OR Hospital Facilities Authority (Mary's Woods at Marylhurst, Inc.), Senior Living Revenue Bonds <br> (Series 2018A), 5.000%, 5/15/2038<br>| &nbsp;&nbsp; 422666 |
| &nbsp;&nbsp; 635000 | Clackamas County, OR Hospital Facilities Authority (Mary's Woods at Marylhurst, Inc.), Senior Living Revenue Bonds <br> (Series 2018A), 5.000%, 5/15/2043<br>| &nbsp;&nbsp; 576189 |
| &nbsp;&nbsp; 400000 | Clackamas County, OR Hospital Facilities Authority (Mary's Woods at Marylhurst, Inc.), Senior Living Revenue Bonds <br> (Series 2018A), 5.000%, 5/15/2048<br>| &nbsp;&nbsp; 349624 |
| &nbsp;&nbsp; 500000 | Clackamas County, OR Hospital Facilities Authority (Mary's Woods at Marylhurst, Inc.), Senior Living Revenue Bonds <br> (Series 2018A), 5.000%, 5/15/2052<br>| &nbsp;&nbsp; 424345 |
| &nbsp;&nbsp; 1000000 | Oregon State, UT GO Bonds (Series 2025A), 5.250%, 5/1/2050 | &nbsp;&nbsp; 1053482 |
| &nbsp;&nbsp; 1000000 | Port of Portland, OR Airport, Airport Revenue Bonds (Series Thirty A), 5.250%, 7/1/2054 | &nbsp;&nbsp; 1011261 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 3837567 |
|  | **Pennsylvania—3.7%** |  |
| &nbsp;&nbsp; 800000<br><sup>3</sup> <br>| Allentown, PA Neighborhood Improvement Zone Development Authority, City Center Project Tax Revenue Bonds <br> (Series 2024), 5.000%, 5/1/2042<br>| &nbsp;&nbsp; 771333 |
| &nbsp;&nbsp; 2000000 | Bucks County, PA IDA (School Lane Charter School), (Series 2016A), 5.125%, 3/15/2046 | &nbsp;&nbsp; 1856873 |
| &nbsp;&nbsp; 1200000 | Chester County, PA IDA (Avon Grove Charter School), Revenue Bonds (Series 2017A), 5.000%, 12/15/2047 | &nbsp;&nbsp; 1109373 |

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**9**

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| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **Pennsylvania—continued** |  |
| $800000 | Chester County, PA IDA (Avon Grove Charter School), Revenue Bonds (Series 2017A), 5.000%, 12/15/2051 | &nbsp;&nbsp; $720528 |
| &nbsp;&nbsp; 4000000 | Northampton County, PA General Purpose Authority (St. Luke's University Health Network), Hospital Revenue Bonds <br> (Series 2024-A1), 5.250%, 8/15/2053<br>| &nbsp;&nbsp; 4037013 |
| &nbsp;&nbsp; 2000000 | Pennsylvania Economic Development Financing Authority (National Gypsum Co.), Exempt Facilities Refunding Revenue <br> Bonds (Series 2014), 5.500%, 11/1/2044<br>| &nbsp;&nbsp; 2001416 |
| &nbsp;&nbsp; 1250000 | Pennsylvania Economic Development Financing Authority (Pennsylvania Rapid Bridge Replacement), Tax-Exempt Private <br> Activity Revenue Bonds (Series 2015), 5.000%, 12/31/2038<br>| &nbsp;&nbsp; 1226858 |
| &nbsp;&nbsp; 2000000 | Pennsylvania Economic Development Financing Authority (The Penndot Major Bridges Package One Project), Revenue <br> Bonds (Series 2022), (Original Issue Yield: 5.080%), 6.000%, 6/30/2061<br>| &nbsp;&nbsp; 2075826 |
| &nbsp;&nbsp; 1000000 | Pennsylvania State Higher Education Facilities Authority (Thomas Jefferson University Obligated Group), Revenue Bonds <br> (Series 2024B-1), (Assured Guaranty, Inc. INS), 5.000%, 11/1/2051<br>| &nbsp;&nbsp; 1000118 |
| &nbsp;&nbsp; 630000 | Philadelphia, PA Authority for Industrial Development (PresbyHomes Germantown/Morrisville), Senior Living Revenue Bonds <br> (Series 2005A), 5.625%, 7/1/2035<br>| &nbsp;&nbsp; 642285 |
| &nbsp;&nbsp; 1000000 | Philadelphia, PA Water & Wastewater System, Water and Wastewater Revenue Bonds (Series 2017A), 5.000%, 10/1/2052 | &nbsp;&nbsp; 987911 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 16429534 |
|  | **Puerto Rico—6.2%** |  |
| &nbsp;&nbsp; 2632553<br><sup>4</sup> <br>| Commonwealth of Puerto Rico, Clawback CVI Bonds, 0.000%, 11/1/2051 | &nbsp;&nbsp; 1355765 |
| &nbsp;&nbsp; 2485715<br><sup>4</sup> <br>| Commonwealth of Puerto Rico, GO CVI Bonds, 0.000%, 11/1/2043 | &nbsp;&nbsp; 1491428 |
| &nbsp;&nbsp; 1000000 | Commonwealth of Puerto Rico, UT GO Restructured Bonds (Series 2022A), 4.000%, 7/1/2037 | &nbsp;&nbsp; 923301 |
| &nbsp;&nbsp; 5000000 | Commonwealth of Puerto Rico, UT GO Restructured Bonds (Series 2022A), 4.000%, 7/1/2041 | &nbsp;&nbsp; 4282223 |
| &nbsp;&nbsp; 1000000 | Commonwealth of Puerto Rico, UT GO Restructured Bonds (Series 2022A), 4.000%, 7/1/2046 | &nbsp;&nbsp; 821393 |
| &nbsp;&nbsp; 2000000 | Commonwealth of Puerto Rico, UT GO Restructured Bonds (Series 2022A), 5.750%, 7/1/2031 | &nbsp;&nbsp; 2139955 |
| &nbsp;&nbsp; 4000000<br><sup>3</sup> <br>| Puerto Rico Commonwealth Aqueduct & Sewer Authority, Revenue Refunding Bonds (Series 2021B), 4.000%, 7/1/2042 | &nbsp;&nbsp; 3424073 |
| &nbsp;&nbsp; 4000000<br><sup>1,2</sup> <br>| Puerto Rico Electric Power Authority, Power Revenue Bonds PSA (Series 2010 XX), 5.250%, 7/1/2040 | &nbsp;&nbsp; 1940000 |
| &nbsp;&nbsp; 995000<br><sup>1,2</sup> <br>| Puerto Rico Electric Power Authority, Power Revenue Bonds PSA (Series 2012A), 5.050%, 7/1/2042 | &nbsp;&nbsp; 482575 |
| &nbsp;&nbsp; 310000<br><sup>1,2</sup> <br>| Puerto Rico Electric Power Authority, Power Revenue Bonds PSA (Series 2013A), 7.000%, 7/1/2033 | &nbsp;&nbsp; 150350 |
| &nbsp;&nbsp; 195000<br><sup>1,2</sup> <br>| Puerto Rico Electric Power Authority, Power Revenue Bonds RSA (Series 2013A), (Original Issue Yield: 7.070%), <br> 7.000%, 7/1/2040<br>| &nbsp;&nbsp; 94575 |
| &nbsp;&nbsp; 2500000<br><sup>1,2</sup> <br>| Puerto Rico Electric Power Authority, Power Revenue Bonds RSA (Series 2013A), (Original Issue Yield: 7.120%), <br> 7.000%, 7/1/2043<br>| &nbsp;&nbsp; 1212500 |
| &nbsp;&nbsp; 5000000<br><sup>4</sup> <br>| Puerto Rico Sales Tax Financing Corp., Restructured Capital Appreciation Sales Tax Bonds (Series 2019A-1), (Original Issue <br> Yield: 5.375%), 0.000%, 7/1/2046<br>| &nbsp;&nbsp; 1595321 |
| &nbsp;&nbsp; 6764000<br><sup>4</sup> <br>| Puerto Rico Sales Tax Financing Corp., Restructured Capital Appreciation Sales Tax Bonds (Series 2019A-1), <br> 0.000%, 7/1/2051<br>| &nbsp;&nbsp; 1586938 |
| &nbsp;&nbsp; 4340000 | Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Bonds (Series 2019A), (Original Issue Yield: 5.154%), <br> 5.000%, 7/1/2058<br>| &nbsp;&nbsp; 4070693 |
| &nbsp;&nbsp; 2000000 | Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Bonds (Series 2019A-1), 4.750%, 7/1/2053 | &nbsp;&nbsp; 1828606 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 27399696 |
|  | **South Carolina—1.3%** |  |
| &nbsp;&nbsp; 1000000 | Berkeley County, SC (Nexton Improvement District), Assessment Revenue Bonds (Series 2019), (Original Issue Yield: <br> 4.280%), 4.250%, 11/1/2040<br>| &nbsp;&nbsp; 880784 |
| &nbsp;&nbsp; 1150000<br><sup>3</sup> <br>| South Carolina Jobs-EDA (Green Charter Schools), Educational Facilities Revenue Refunding Bonds (Series 2021A), <br> 4.000%, 6/1/2046<br>| &nbsp;&nbsp; 830416 |
| &nbsp;&nbsp; 1000000<br><sup>3</sup> <br>| South Carolina Jobs-EDA (Seafields at Kiawah Island), Retirement Community Revenue Bonds (Series 2023A), <br> 7.500%, 11/15/2053<br>| &nbsp;&nbsp; 1036290 |
| &nbsp;&nbsp; 1000000<br><sup>3</sup> <br>| South Carolina Jobs-EDA (Seafields at Kiawah Island), Retirement Community Revenue Bonds TEMPS -75 (Series 2023B-1), <br> 5.750%, 11/15/2029<br>| &nbsp;&nbsp; 995142 |
| &nbsp;&nbsp; 1000000 | South Carolina Jobs-EDA (South Carolina Episcopal Home at Still Hopes), Residential Care Facilities Revenue and Revenue <br> Refunding Bonds (Series 2018A), 5.000%, 4/1/2038<br>| &nbsp;&nbsp; 985318 |
| &nbsp;&nbsp; 1000000 | South Carolina Jobs-EDA (South Carolina Episcopal Home at Still Hopes), Residential Care Facilities Revenue Bonds <br> (Series 2017), 5.000%, 4/1/2052<br>| &nbsp;&nbsp; 886096 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 5614046 |
|  | **South Dakota—0.4%** |  |
| &nbsp;&nbsp; 1000000 | Sioux Falls, SD Health Facilities Revenue (Dow Rummel Village), (Series 2017), (Original Issue Yield: 5.050%), <br> 5.000%, 11/1/2042<br>| &nbsp;&nbsp; 883393 |

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**10**

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| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **South Dakota—continued** |  |
| $1000000 | Sioux Falls, SD Health Facilities Revenue (Dow Rummel Village), (Series 2017), (Original Issue Yield: 5.200%), <br> 5.125%, 11/1/2047<br>| &nbsp;&nbsp; $856059 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 1739452 |
|  | **Texas—6.9%** |  |
| &nbsp;&nbsp; 1100000 | Arlington, TX Higher Education Finance Corp. (Uplift Education), Revenue Bonds (Series 2016A), 5.000%, 12/1/2046 | &nbsp;&nbsp; 1021064 |
| &nbsp;&nbsp; 1000000 | Board of Managers, Joint Guadalupe County-City of Seguin, TX, Hospital Mortgage Revenue Refunding & Improvement <br> Bonds (Series 2015), (Original Issue Yield: 5.080%), 5.000%, 12/1/2045<br>| &nbsp;&nbsp; 924064 |
| &nbsp;&nbsp; 1000000 | Dallas-Fort Worth, TX (Dallas-Fort Worth, TX International Airport), Joint Revenue Refunding and Improvement Bonds <br> (Series 2023B), 5.000%, 11/1/2047<br>| &nbsp;&nbsp; 1017327 |
| &nbsp;&nbsp; 1000000 | Harris County, TX Hospital Distict, LT GO Bonds (Series 2025), 5.250%, 2/15/2055 | &nbsp;&nbsp; 1023832 |
| &nbsp;&nbsp; 2920000 | Harris County, TX IDC (Energy Transfer LP), Marine Terminal Refunding Revenue Bonds (Series 2023), 4.050%, Mandatory <br> Tender 6/1/2033<br>| &nbsp;&nbsp; 2855595 |
| &nbsp;&nbsp; 1500000 | Houston, TX (United Airlines, Inc.), Airport System Special Facilities Revenue Bonds (Series 2024B), 5.500%, 7/15/2039 | &nbsp;&nbsp; 1535526 |
| &nbsp;&nbsp; 1500000 | Houston, TX (United Airlines, Inc.), Special Facilities Revenue & Refunding Bonds (Series 2011), (Original Issue Yield: <br> 6.875%), 6.625%, 7/15/2038<br>| &nbsp;&nbsp; 1503181 |
| &nbsp;&nbsp; 3000000 | Houston, TX Airport System, Subordinate Lien Revenue and Refunding Bonds (Series 2023A), (Assured Guaranty, Inc. INS), <br> 5.250%, 7/1/2048<br>| &nbsp;&nbsp; 3044860 |
| &nbsp;&nbsp; 2000000 | New Hope Cultural Education Facilities Finance Corporation (Brazos Presbyterian Homes Holding, Inc.), Retirement Facilities <br> Revenue Bonds (Series 2017), 5.000%, 1/1/2042<br>| &nbsp;&nbsp; 1901306 |
| &nbsp;&nbsp; 1606885 | New Hope Cultural Education Facilities Finance Corporation (Buckingham Senior Living Community), Retirement Facilities <br> Revenue Exchange Bonds (Series 2021B), 2.000%, 11/15/2061<br>| &nbsp;&nbsp; 560567 |
| &nbsp;&nbsp; 2000000<br><sup>3</sup> <br>| New Hope Cultural Education Facilities Finance Corporation (Jubilee Academic Center), Education Revenue Refunding <br> Bonds (Series 2021), 4.000%, 8/15/2046<br>| &nbsp;&nbsp; 1603903 |
| &nbsp;&nbsp; 1000000 | New Hope Cultural Education Facilities Finance Corporation (MRC Langford), Retirement Facility Revenue Bonds <br> (Series 2016A), 5.500%, 11/15/2046<br>| &nbsp;&nbsp; 781542 |
| &nbsp;&nbsp; 1500000 | North Texas Tollway Authority, First Tier Revenue Refunding Bonds (Series 2024A), 5.000%, 1/1/2041 | &nbsp;&nbsp; 1570800 |
| &nbsp;&nbsp; 1000000 | Tarrant County, TX Cultural Education Facilities Finance Corp. (Baylor Scott & White Health Care System), Hospital Revenue <br> Bonds (Series 2022D), 5.500%, 11/15/2047<br>| &nbsp;&nbsp; 1036118 |
| &nbsp;&nbsp; 2655000 | Tarrant County, TX Cultural Education Facilities Finance Corp. (Buckner Senior Living-Ventana Project), Retirement Facility <br> Revenue Bonds (Series 2017A), (Original Issue Yield: 6.770%), 6.750%, 11/15/2052<br>| &nbsp;&nbsp; 2686059 |
| &nbsp;&nbsp; 1500000 | Tarrant County, TX Cultural Education Facilities Finance Corp. (MRC Stevenson Oaks Project), Retirement Facilities Revenue <br> Bonds (Series 2020A), 6.875%, 11/15/2055<br>| &nbsp;&nbsp; 1256542 |
| &nbsp;&nbsp; 1000000 | Texas Private Activity Bonds Surface Transportation Corporation (NTE Mobility Partners Segments 3, LLC), Senior Lien <br> Revenue Refunding Bonds (Series 2023), 5.500%, 6/30/2040<br>| &nbsp;&nbsp; 1026085 |
| &nbsp;&nbsp; 2000000 | Texas Private Activity Bonds Surface Transportation Corporation (NTE Mobility Partners, LLC), Senior Lien Revenue Bonds <br> (Series 2023), 5.500%, 12/31/2058<br>| &nbsp;&nbsp; 2048884 |
| &nbsp;&nbsp; 1195000 | Texas State Transportation Commission (State Highway 249 System), First Tier Toll Revenue Bonds (Series 2019A), <br> 5.000%, 8/1/2057<br>| &nbsp;&nbsp; 1190479 |
| &nbsp;&nbsp; 2000000 | Texas Water Development Board (Texas State Water Implementation Revenue Fund), Revenue Bonds (Series 2024A), <br> 4.375%, 10/15/2059<br>| &nbsp;&nbsp; 1783201 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 30370935 |
|  | **Utah—0.9%** |  |
| &nbsp;&nbsp; 1000000 | Salt Lake City, UT (Salt Lake City, UT International Airport), Airport Revenue Bonds (Series 2017A), 5.000%, 7/1/2042 | &nbsp;&nbsp; 985965 |
| &nbsp;&nbsp; 1000000 | Salt Lake City, UT (Salt Lake City, UT International Airport), Airport Revenue Bonds (Series 2023A), 5.500%, 7/1/2053 | &nbsp;&nbsp; 1027429 |
| &nbsp;&nbsp; 2000000<br><sup>3</sup> <br>| Utah State Charter School Finance Authority (Freedom Academy Foundation), Charter School Revenue Refunding Bonds <br> (Series 2017), (Original Issue Yield: 5.300%), 5.250%, 6/15/2037<br>| &nbsp;&nbsp; 1895459 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 3908853 |
|  | **Vermont—0.2%** |  |
| &nbsp;&nbsp; 1000000<br><sup>3</sup> <br>| Vermont EDA (Casella Waste Systems, Inc.), Solid Waste Disposal Revenue Bonds (Series 2013), 4.625%, Mandatory <br> Tender 4/3/2028<br>| &nbsp;&nbsp; 1005813 |
|  | **Virginia—1.4%** |  |
| &nbsp;&nbsp; 750000 | Henrico County, VA EDA (Bon Secours Mercy Health), Health Facilities Revenue Bonds (Series 2025A), 5.000%, 11/1/2048 | &nbsp;&nbsp; 754087 |
| &nbsp;&nbsp; 1000000 | Norfolk, VA Redevelopment and Housing Authority (Harbor's Edge), Fort Norfolk Retirement Community Revenue Bond <br> (Series 2019B), 5.250%, 1/1/2054<br>| &nbsp;&nbsp; 852685 |
| &nbsp;&nbsp; 3000000 | Tobacco Settlement Financing Corp., VA, Tobacco Settlement Asset-Backed Bonds (Series 2007B-1), (Original Issue Yield: <br> 5.120%), 5.000%, 6/1/2047<br>| &nbsp;&nbsp; 2590000 |

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**11**

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| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **Virginia—continued** |  |
| $1365000 | Virginia Beach, VA Development Authority (Westminster-Canterbury on Chesapeake Bay), Residential Care Facility Revenue <br> Bonds (Series 2023A), 7.000%, 9/1/2059<br>| &nbsp;&nbsp; $1484446 |
| &nbsp;&nbsp; 370000 | Virginia Small Business Financing Authority (Reworld Holding Corp.), Solid Waste Disposal Revenue Bonds (Series 2018), <br> 5.000%, Mandatory Tender 7/1/2038<br>| &nbsp;&nbsp; 355406 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 6036624 |
|  | **Washington—1.0%** |  |
| &nbsp;&nbsp; 1000000 | Port of Seattle, WA IDC (Delta Air Lines, Inc.), Special Facilities Revenue Refunding Bonds (Series 2012), (Original Issue <br> Yield: 5.310%), 5.000%, 4/1/2030<br>| &nbsp;&nbsp; 999945 |
| &nbsp;&nbsp; 1000000<br><sup>3</sup> <br>| Washington State Housing Finance Commission (Heron's Key Senior Living), Nonprofit Housing Revenue Bonds <br> (Series 2015A), (Original Issue Yield: 7.050%), (United States Treasury PRF 7/1/2025@100), 7.000%, 7/1/2050<br>| &nbsp;&nbsp; 1002513 |
| &nbsp;&nbsp; 1000000<br><sup>3</sup> <br>| Washington State Housing Finance Commission (Heron's Key Senior Living), Nonprofit Housing Revenue Bonds <br> (Series 2015A), (United States Treasury PRF 7/1/2025@100), 7.000%, 7/1/2045<br>| &nbsp;&nbsp; 1002513 |
| &nbsp;&nbsp; 1641481 | Washington State Housing Finance Commission, Municipal Certificates (Series 2023-1 Class A), (Original Issue Yield: <br> 5.067%), 3.375%, 4/20/2037<br>| &nbsp;&nbsp; 1477565 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 4482536 |
|  | **West Virginia—0.7%** |  |
| &nbsp;&nbsp; 1000000 | West Virginia EDA (Commercial Metals Corp.), Solid Waste Disposal Facilities Revenue Bonds (Series 2025), 4.625%, <br> Mandatory Tender 5/15/2032<br>| &nbsp;&nbsp; 993932 |
| &nbsp;&nbsp; 1000000<br><sup>3</sup> <br>| West Virginia EDA (Core Natural Resources, Inc.), Solid Waste Disposal Facility Revenue Bonds (Series 2025), 5.450%, <br> Mandatory Tender 3/27/2035<br>| &nbsp;&nbsp; 993561 |
| &nbsp;&nbsp; 1000000 | West Virginia State Hospital Finance Authority (Vandalia Health), Hospital Refunding and Improvement Revenue Bonds <br> (Series 2023B), 6.000%, 9/1/2053<br>| &nbsp;&nbsp; 1062677 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 3050170 |
|  | **Wisconsin—4.1%** |  |
| &nbsp;&nbsp; 1500000<br><sup>3</sup> <br>| Public Finance Authority, WI (American Dream at Meadowlands), Limited Obligation PILOT Revenue Bonds (Series 2017), <br> 7.000%, 12/1/2050<br>| &nbsp;&nbsp; 1500702 |
| &nbsp;&nbsp; 1375000<br><sup>3</sup> <br>| Public Finance Authority, WI (Eno River Academy), Charter School Revenue Bonds (Series 2020A), 5.000%, 6/15/2054 | &nbsp;&nbsp; 1226119 |
| &nbsp;&nbsp; 2000000<br><sup>3</sup> <br>| Public Finance Authority, WI (LVHN CHP JV, LLC), Revenue Bonds (Series 2022A), 7.500%, 12/1/2052 | &nbsp;&nbsp; 2027028 |
| &nbsp;&nbsp; 1500000<br><sup>3</sup> <br>| Public Finance Authority, WI (Mater Academy of Nevada), East Las Vegas Campus Revenue Bonds (Series 2024A), <br> 5.000%, 12/15/2054<br>| &nbsp;&nbsp; 1345151 |
| &nbsp;&nbsp; 1000000 | Public Finance Authority, WI (National Gypsum Co.), Exempt Facilities Refunding Revenue Bonds (Series 2016), <br> 4.000%, 8/1/2035<br>| &nbsp;&nbsp; 941883 |
| &nbsp;&nbsp; 3000000<br><sup>3</sup> <br>| Public Finance Authority, WI (Southminster), Retirement Facilities First Mortgage Revenue Bonds (Series 2018), <br> 5.000%, 10/1/2053<br>| &nbsp;&nbsp; 2640209 |
| &nbsp;&nbsp; 2000000<br><sup>4</sup> <br>| Public Finance Authority, WI Revenue (Alpha Ranch Project MUD), Capital Appreciation Bonds (Series 2024), (Original Issue <br> Yield: 6.125%), 0.000%, 12/15/2038<br>| &nbsp;&nbsp; 887902 |
| &nbsp;&nbsp; 1000000<br><sup>3,4</sup> <br>| Public Finance Authority, WI Revenue (Anthem/Freedom, TX Municipal Utility District), Revenue Anticipation Capital <br> Appreciation Bonds (Series 2025), (Original Issue Yield: 5.750%), 0.000%, 12/15/2037<br>| &nbsp;&nbsp; 491582 |
| &nbsp;&nbsp; 900000<br><sup>3</sup> <br>| Public Finance Authority, WI Revenue (Aurora Integrated Oncology Foundation), Revenue Bonds (Series 2023), <br> 9.000%, 11/1/2028<br>| &nbsp;&nbsp; 955430 |
| &nbsp;&nbsp; 2000000<br><sup>3</sup> <br>| Public Finance Authority, WI Revenue (Briarwood and Park Place Projects), Capital Appreciation Bonds (Series 2025), <br> (Original Issue Yield: 6.750%), 6.745%, 12/15/2036<br>| &nbsp;&nbsp; 941793 |
| &nbsp;&nbsp; 1500000 | Public Finance Authority, WI Revenue (Fargo-Moorhead Metropolitan Area Flood Risk Management Project), Senior Revenue <br> Bonds (Series 2021) Green Bonds, 4.000%, 3/31/2056<br>| &nbsp;&nbsp; 1150599 |
| &nbsp;&nbsp; 2000000 | Public Finance Authority, WI Revenue (Puerto Rico Toll Roads Monetization Project), Senior Lien Revenue Bonds <br> (Series 2024), 5.750%, 7/1/2054<br>| &nbsp;&nbsp; 2041979 |
| &nbsp;&nbsp; 2000000 | Wisconsin Health & Educational Facilities Authority (Aspirus, Inc. Obligated Group), Revenue Bonds (Series 2025), <br> 5.250%, 8/15/2055<br>| &nbsp;&nbsp; 2022808 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 18173185 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL MUNICIPAL BONDS <br>(IDENTIFIED COST $457,172,461)<br>| &nbsp;&nbsp; 433832213 |
| <sup>6</sup> <br>| SHORT-TERM MUNICIPALS—0.6% |  |
|  | **Kentucky—0.2%** |  |
| &nbsp;&nbsp; 900000 | Louisville & Jefferson County, KY Regional Airport Authority (UPS Worldwide Forwarding, Inc.), Revenue Bonds (Series C) <br> Daily VRDNs, (United Parcel Service, Inc. GTD), 3.050%, 6/2/2025<br>| &nbsp;&nbsp; 900000 |

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**12**

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| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br>|  | **Value** |
| <sup>6</sup> <br>| SHORT-TERM MUNICIPALS—continued |  |
|  | **Multi State—0.1%** |  |
| $400000 | Invesco Municipal Opportunity Trust, PUTTERs 3a-7 (VMTP 5029) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ), <br> 3.450%, 6/2/2025<br>| &nbsp;&nbsp; $400000 |
|  | **Ohio—0.2%** |  |
| &nbsp;&nbsp; 1250000 | Ohio State Higher Educational Facility Commission (Cleveland Clinic), (Series 2013B-2) Daily VRDNs, (TD Bank, N.A. LIQ), <br> 2.900%, 6/2/2025<br>| &nbsp;&nbsp; 1250000 |
|  | **Pennsylvania—0.1%** |  |
| &nbsp;&nbsp; 370000 | Delaware County, PA IDA (United Parcel Service, Inc.), (Series 2015) Daily VRDNs, (United Parcel Service, Inc. GTD), <br> 2.950%, 6/2/2025<br>| &nbsp;&nbsp; 370000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL SHORT-TERM MUNICIPALS <br>(IDENTIFIED COST $2,920,000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2920000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL INVESTMENT IN SECURITIES—98.9% <br>(IDENTIFIED COST $460,092,461)<br>| &nbsp;&nbsp; 436752213 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; OTHER ASSETS AND LIABILITIES - NET—1.1%<sup>7</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 4651382 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NET ASSETS—100% | &nbsp;&nbsp; $441403595 |

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Securities that are subject to the federal alternative minimum tax (AMT) represent 19.5% of the Fund's portfolio as calculated based upon total market value.

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| | |
|:---|:---|
| 1 | *Non-income-producing security.* |
| 2 | *Security in default.* |
| 3 | *Denotes a restricted security that either: (a) cannot be offered for public sale without first being registered, or availing of an exemption from registration, under* <br> *the Securities Act of 1933; or (b) is subject to a contractual restriction on public sales. At May 31, 2025, these restricted securities amounted to $61,520,331,* <br> *which represented 13.9% of net assets.*<br>|

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Additional information on restricted securities held at May 31, 2025, is as follows:

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| | | | |
|:---|:---|:---|:---|
| **Security** | **Acquisition** <br>**Date**<br>| **Cost** | **Value** |
| Allentown, PA Neighborhood Improvement Zone Development Authority, City Center Project Tax Revenue Bonds <br> (Series 2024), 5.000%, 5/1/2042<br>| &nbsp;&nbsp; 1/18/2024 | &nbsp;&nbsp; $800000 | &nbsp;&nbsp; $771333 |
| Arizona State IDA (Basis Schools, Inc. Obligated Group), Education Revenue Bonds (Series 2017D), <br> 5.000%, 7/1/2051<br>| &nbsp;&nbsp; 10/12/2017 | &nbsp;&nbsp; $654327 | &nbsp;&nbsp; $596209 |
| Arizona State IDA (Basis Schools, Inc. Obligated Group), Education Revenue Bonds (Series 2017G), <br> 5.000%, 7/1/2051<br>| &nbsp;&nbsp; 12/15/2017 | &nbsp;&nbsp; $505409 | &nbsp;&nbsp; $458622 |
| Arizona State IDA (Pinecrest Academy of Nevada), Horizon, Inspirada and St. Rose Campus Education Revenue <br> Bonds (Series 2018A), 5.750%, 7/15/2048<br>| &nbsp;&nbsp; 12/14/2018 | &nbsp;&nbsp; $1761285 | &nbsp;&nbsp; $1756360 |
| Build NYC Resource Corporation (Albert Einstein School of Medicine, Inc.), Revenue Bonds (Series 2015), <br> 5.500%, 9/1/2045<br>| &nbsp;&nbsp; 1/14/2016 | &nbsp;&nbsp; $900000 | &nbsp;&nbsp; $900360 |
| California Infrastructure & Economic Development Bank (Brightline West Passenger Rail Project), Senior <br> Subordinated Secured Revenue Bonds (Series 2025A), (Original Issue Yield: 9.941%), 9.500%, Mandatory <br> Tender 1/1/2035<br>| &nbsp;&nbsp; 2/21/2025 | &nbsp;&nbsp; $972668 | &nbsp;&nbsp; $968677 |
| California Public Finance Authority (Kendal at Sonoma), Enso Village Senior Living Revenue Refunding Bonds <br> (Series 2021A), 5.000%, 11/15/2046<br>| &nbsp;&nbsp; 5/27/2021 | &nbsp;&nbsp; $1241989 | &nbsp;&nbsp; $1131561 |
| California Public Finance Authority (Sunrise of Manhattan Beach), Senior Living Rental Housing Revenue Bonds <br> (Series 2025-A1), (Original Issue Yield: 7.000%), 6.750%, 7/1/2065<br>| &nbsp;&nbsp;&nbsp; 2/6/2025 | &nbsp;&nbsp; $1932892 | &nbsp;&nbsp; $2076487 |
| California School Finance Authority (KIPP LA), School Facility Revenue Bonds (Series 2015A), 5.000%, 7/1/2045 | &nbsp;&nbsp; 8/27/2015 | &nbsp;&nbsp; $565277 | &nbsp;&nbsp; $543323 |
| California School Finance Authority (KIPP LA), School Facility Revenue Bonds (Series 2017A), 5.000%, 7/1/2047 | &nbsp;&nbsp;&nbsp; 8/4/2017 | &nbsp;&nbsp; $514934 | &nbsp;&nbsp; $477245 |
| California State School Finance Authority Charter School Revenue (Bright Star Schools-Obligated Group), Charter <br> School Revenue Bonds (Series 2017), 5.000%, 6/1/2037<br>| &nbsp;&nbsp; 4/20/2020 | &nbsp;&nbsp; $1003186 | &nbsp;&nbsp; $974104 |
| California State School Finance Authority Charter School Revenue (Rocketship Public Schools), Revenue Bonds <br> (Series 2017G), 5.000%, 6/1/2047<br>| &nbsp;&nbsp; 12/4/2017 | &nbsp;&nbsp; $504823 | &nbsp;&nbsp; $455447 |
| California State School Finance Authority Charter School Revenue (Summit Public Schools Obligated Group), <br> (Series 2017), (United States Treasury PRF 6/1/2027@100), 5.000%, 6/1/2053<br>| &nbsp;&nbsp; 9/26/2018 | &nbsp;&nbsp; $624748 | &nbsp;&nbsp; $601879 |
| California State School Finance Authority Charter School Revenue (Summit Public Schools Obligated Group), <br> (Series 2017), 5.000%, 6/1/2053<br>| &nbsp;&nbsp; 9/26/2018 | &nbsp;&nbsp; $560118 | &nbsp;&nbsp; $451734 |
| California Statewide Communities Development Authority (Loma Linda University Medical Center), Revenue Bonds <br> (Series 2016A), 5.000%, 12/1/2046<br>| &nbsp;&nbsp; 5/19/2020 | &nbsp;&nbsp; $2252100 | &nbsp;&nbsp; $2129672 |

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**13**

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| | | | |
|:---|:---|:---|:---|
| **Security** | **Acquisition**<br> **Date**<br>| **Cost** | **Value** |
| Capital Projects Finance Authority, FL (Trilogy Community Development Foundation, Inc.), Millenia Moments <br> Orlando Project Revenue Bonds (Series 2025A), (Original Issue Yield: 7.400%), 7.125%, 1/1/2065<br>| &nbsp;&nbsp; 4/21/2025 | &nbsp;&nbsp; $1447175 | &nbsp;&nbsp; $1446821 |
| Collier County, FL IDA (Arlington of Naples), Continuing Care Community Revenue Bonds (Series 2013A), (Original <br> Issue Yield: 8.375%), 8.250%, 5/15/2049<br>| &nbsp;&nbsp; 12/16/2013 | &nbsp;&nbsp; $2116296 | &nbsp;&nbsp; $224 |
| Colorado Educational & Cultural Facilities Authority (Loveland Classical School), School Improvement Revenue <br> Bonds (Series 2016), 5.000%, 7/1/2036<br>| &nbsp;&nbsp; 4/17/2020 | &nbsp;&nbsp; $946760 | &nbsp;&nbsp; $1002841 |
| Denver, CO Health & Hospital Authority, Revenue Refunding Bonds (Series 2017A), 5.000%, 12/1/2034 | &nbsp;&nbsp; 8/23/2017 | &nbsp;&nbsp; $1030269 | &nbsp;&nbsp; $1010650 |
| Director of the State of Nevada Department of Business and Industry (Brightline West Passenger Rail Project), <br> Senior Subordinated Secured Revenue Bonds (Series 2025A), (Original Issue Yield: 10.154%), 9.500%, Mandatory <br> Tender 1/1/2033<br>| &nbsp;&nbsp; 2/21/2025 | &nbsp;&nbsp; $1930424 | &nbsp;&nbsp; $1907507 |
| Director of the State of Nevada Department of Business and Industry (Doral Academy of Nevada CS), Charter <br> School Revenue Bonds (Series 2017A), 5.000%, 7/15/2047<br>| &nbsp;&nbsp; 8/31/2017 | &nbsp;&nbsp; $905406 | &nbsp;&nbsp; $807754 |
| Director of the State of Nevada Department of Business and Industry (Somerset Academy of Las Vegas), Charter <br> School Lease Revenue Bonds (Series 2018A), 5.000%, 12/15/2038<br>| &nbsp;&nbsp; 11/8/2022 | &nbsp;&nbsp; $936840 | &nbsp;&nbsp; $974000 |
| Kansas City, MO Redevelopment Authority (Kansas City Convention Center Headquarters Hotel CID), Revenue <br> Bonds (Series 2018B), (Original Issue Yield: 5.079%), 5.000%, 2/1/2050<br>| &nbsp;&nbsp; 1/10/2018 | &nbsp;&nbsp; $1977804 | &nbsp;&nbsp; $1867840 |
| Maine State Finance Authority Solid Waste Disposal (Casella Waste Systems, Inc.), Solid Waste Disposal Revenue <br> Bonds (Series 2024), 4.625%, Mandatory Tender 6/1/2035<br>| &nbsp;&nbsp; 12/18/2024 | &nbsp;&nbsp; $500000 | &nbsp;&nbsp; $486828 |
| Maricopa County, AZ, IDA (Commercial Metals Corp.), Exempt Facilities Revenue Bonds (Series 2022), <br> 4.000%, 10/15/2047<br>| &nbsp;&nbsp; 2/11/2022 | &nbsp;&nbsp; $1031302 | &nbsp;&nbsp; $827155 |
| Millsboro, DE Special Obligations (Plantation Lakes Special Development District), Special Tax Revenue Refunding <br> Bonds (Series 2018), (Original Issue Yield: 5.140%), 5.125%, 7/1/2038<br>| &nbsp;&nbsp; 5/22/2020 | &nbsp;&nbsp; $2863041 | &nbsp;&nbsp; $2902671 |
| Minneapolis, MN Charter School Lease Revenue (Twin Cities International School), (Series 2017A), (Original Issue <br> Yield: 5.150%), 5.000%, 12/1/2047<br>| &nbsp;&nbsp; 12/8/2017 | &nbsp;&nbsp; $2940360 | &nbsp;&nbsp; $2652729 |
| National Finance Authority, NH (Bridgeland Water & Utility District 490, 491, & 158), Special Revenue Bonds <br> (Series 2024), 5.375%, 12/15/2035<br>| &nbsp;&nbsp; 9/13/2024 | &nbsp;&nbsp; $900000 | &nbsp;&nbsp; $894825 |
| National Finance Authority, NH (Highlands Project MUDs), Special Revenue Bonds (Series 2024), <br> 5.125%, 12/15/2030<br>| &nbsp;&nbsp; 10/9/2024 | &nbsp;&nbsp; $900000 | &nbsp;&nbsp; $897660 |
| New Hope Cultural Education Facilities Finance Corporation (Jubilee Academic Center), Education Revenue <br> Refunding Bonds (Series 2021), 4.000%, 8/15/2046<br>| &nbsp;&nbsp; 3/24/2023 | &nbsp;&nbsp; $1480320 | &nbsp;&nbsp; $1603903 |
| New Jersey EDA (Repauno Port & Rail Terminal), Dock and Wharf Facility Revenue Bonds (Series 2025), (Original <br> Issue Yield: 6.516%), 6.375%, 1/1/2035<br>| &nbsp;&nbsp; 5/16/2025 | &nbsp;&nbsp; $1485013 | &nbsp;&nbsp; $1517940 |
| Pima County, AZ IDA (La Posada at Pusch Ridge), Senior Living Revenue Bonds (Series 2022A), 6.250%, 11/15/2035 | &nbsp;&nbsp; 10/6/2022 | &nbsp;&nbsp; $1000000 | &nbsp;&nbsp; $1052013 |
| Pima County, AZ IDA (La Posada at Pusch Ridge), Senior Living Revenue Bonds (Series 2022A), 7.000%, 11/15/2057 | &nbsp;&nbsp; 10/6/2022 | &nbsp;&nbsp; $1000000 | &nbsp;&nbsp; $1045163 |
| Polk County, FL IDA (Mineral Development, LLC), Secondary Phosphate Tailings Recovery Project Revenue Bonds <br> (Series 2020), 5.875%, 1/1/2033<br>| &nbsp;&nbsp; 10/23/2020 | &nbsp;&nbsp; $1750000 | &nbsp;&nbsp; $1015000 |
| Public Finance Authority, WI (American Dream at Meadowlands), Limited Obligation PILOT Revenue Bonds <br> (Series 2017), 7.000%, 12/1/2050<br>| &nbsp;&nbsp; 6/22/2017 | &nbsp;&nbsp; $1512730 | &nbsp;&nbsp; $1500702 |
| Public Finance Authority, WI (Eno River Academy), Charter School Revenue Bonds (Series 2020A), <br> 5.000%, 6/15/2054<br>| &nbsp;&nbsp; 6/12/2020 | &nbsp;&nbsp; $1395146 | &nbsp;&nbsp; $1226119 |
| Public Finance Authority, WI (LVHN CHP JV, LLC), Revenue Bonds (Series 2022A), 7.500%, 12/1/2052 | &nbsp;&nbsp;&nbsp; 2/2/2023 | &nbsp;&nbsp; $2000000 | &nbsp;&nbsp; $2027028 |
| Public Finance Authority, WI (Mater Academy of Nevada), East Las Vegas Campus Revenue Bonds (Series 2024A), <br> 5.000%, 12/15/2054<br>| &nbsp;&nbsp; 9/25/2024 | &nbsp;&nbsp; $1515844 | &nbsp;&nbsp; $1345151 |
| Public Finance Authority, WI (Southminster), Retirement Facilities First Mortgage Revenue Bonds (Series 2018), <br> 5.000%, 10/1/2053<br>| &nbsp;&nbsp; 11/15/2022 | &nbsp;&nbsp; $2416980 | &nbsp;&nbsp; $2640209 |
| Public Finance Authority, WI Revenue (Anthem/Freedom, TX Municipal Utility District), Revenue Anticipation <br> Capital Appreciation Bonds (Series 2025), (Original Issue Yield: 5.750%), 0.000%, 12/15/2037<br>| &nbsp;&nbsp; 2/28/2025 | &nbsp;&nbsp; $496136 | &nbsp;&nbsp; $491582 |
| Public Finance Authority, WI Revenue (Aurora Integrated Oncology Foundation), Revenue Bonds (Series 2023), <br> 9.000%, 11/1/2028<br>| &nbsp;&nbsp; 12/14/2023 | &nbsp;&nbsp; $900000 | &nbsp;&nbsp; $955430 |
| Public Finance Authority, WI Revenue (Briarwood and Park Place Projects), Capital Appreciation Bonds <br> (Series 2025), (Original Issue Yield: 6.750%), 6.745%, 12/15/2036<br>| &nbsp;&nbsp;&nbsp; 5/9/2025 | &nbsp;&nbsp; $941359 | &nbsp;&nbsp; $941793 |
| Puerto Rico Commonwealth Aqueduct & Sewer Authority, Revenue Refunding Bonds (Series 2021B), <br> 4.000%, 7/1/2042<br>| &nbsp;&nbsp; 3/21/2024 | &nbsp;&nbsp; $3820200 | &nbsp;&nbsp; $3424073 |
| South Carolina Jobs-EDA (Green Charter Schools), Educational Facilities Revenue Refunding Bonds (Series 2021A), <br> 4.000%, 6/1/2046<br>| &nbsp;&nbsp; 1/31/2023 | &nbsp;&nbsp; $891952 | &nbsp;&nbsp; $830416 |
| South Carolina Jobs-EDA (Seafields at Kiawah Island), Retirement Community Revenue Bonds (Series 2023A), <br> 7.500%, 11/15/2053<br>| &nbsp;&nbsp; 7/21/2023 | &nbsp;&nbsp; $1000000 | &nbsp;&nbsp; $1036290 |

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**14**

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| | | | |
|:---|:---|:---|:---|
| **Security** | **Acquisition**<br> **Date**<br>| **Cost** | **Value** |
| South Carolina Jobs-EDA (Seafields at Kiawah Island), Retirement Community Revenue Bonds TEMPS -75 <br> (Series 2023B-1), 5.750%, 11/15/2029<br>| &nbsp;&nbsp; 7/21/2023 | &nbsp;&nbsp; $962001 | &nbsp;&nbsp; $995142 |
| Utah State Charter School Finance Authority (Freedom Academy Foundation), Charter School Revenue Refunding <br> Bonds (Series 2017), (Original Issue Yield: 5.300%), 5.250%, 6/15/2037<br>| &nbsp;&nbsp; 4/27/2020 | &nbsp;&nbsp; $1867365 | &nbsp;&nbsp; $1895459 |
| Vermont EDA (Casella Waste Systems, Inc.), Solid Waste Disposal Revenue Bonds (Series 2013), 4.625%, <br> Mandatory Tender 4/3/2028<br>| &nbsp;&nbsp; 3/28/2018 | &nbsp;&nbsp; $1000000 | &nbsp;&nbsp; $1005813 |
| Washington State Housing Finance Commission (Heron's Key Senior Living), Nonprofit Housing Revenue Bonds <br> (Series 2015A), (Original Issue Yield: 7.050%), (United States Treasury PRF 7/1/2025@100), 7.000%, 7/1/2050<br>| &nbsp;&nbsp; 7/22/2015 | &nbsp;&nbsp; $994065 | &nbsp;&nbsp; $1002513 |
| Washington State Housing Finance Commission (Heron's Key Senior Living), Nonprofit Housing Revenue Bonds <br> (Series 2015A), (United States Treasury PRF 7/1/2025@100), 7.000%, 7/1/2045<br>| &nbsp;&nbsp; 7/22/2015 | &nbsp;&nbsp; $1000121 | &nbsp;&nbsp; $1002513 |
| West Virginia EDA (Core Natural Resources, Inc.), Solid Waste Disposal Facility Revenue Bonds (Series 2025), <br> 5.450%, Mandatory Tender 3/27/2035<br>| &nbsp;&nbsp; 3/20/2025 | &nbsp;&nbsp; $1000000 | &nbsp;&nbsp; $993561 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| 4 | *Zero coupon bond.* |
| 5 | *Market quotations and price evaluations are not available. Fair value determined using significant unobservable inputs in accordance with procedures established* <br> *by and under the general supervision of the Fund's Adviser acting through its Valuation Committee.*<br>|
| 6 | *Current rate and current maturity or next reset date shown for floating rate notes and variable rate notes/demand instruments. Certain variable rate securities are* <br> *not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do* <br> *not indicate a reference rate and spread in their description above.*<br>|
| 7 | *Assets, other than investments in securities, less liabilities.* |

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Note: The categories of investments are shown as a percentage of net assets at May 31, 2025.

**Investment Valuation** 

In calculating its net asset value (NAV), the Fund generally values investments as follows:

■ Fixed-income securities are fair valued using price evaluations provided by a pricing service approved by Federated Investment Management Company (the "Adviser").

■ Derivative contracts listed on exchanges are valued at their reported settlement or closing price, except that options are valued at the mean of closing bid and ask quotations.

■ Over-the-counter (OTC) derivative contracts are fair valued using price evaluations provided by a pricing service approved by the Adviser.

■ Shares of other mutual funds or non-exchange-traded investment companies are valued based upon their reported NAVs, or NAV per share practical expedient, as applicable.

■ For securities that are fair valued in accordance with procedures established by and under the general supervision of the Adviser, certain factors may be considered, such as: the last traded or purchase price of the security, information obtained by contacting the issuer or dealers, analysis of the issuer's financial statements or other available documents, fundamental analytical data, the nature and duration of restrictions on disposition, the movement of the market in which the security is normally traded, public trading in similar securities or derivative contracts of the issuer or comparable issuers, movement of a relevant index, or other factors including but not limited to industry changes and relevant government actions.

If any price, quotation, price evaluation or other pricing source is not readily available when the NAV is calculated, if the Fund cannot obtain price evaluations from a pricing service or from more than one dealer for an investment within a reasonable period of time as set forth in the Adviser's valuation policies and procedures for the Fund, or if information furnished by a pricing service, in the opinion of the Adviser's valuation committee ("Valuation Committee"), is deemed not representative of the fair value of such security, the Fund uses the fair value of the investment determined in accordance with the procedures described below. There can be no assurance that the Fund could obtain the fair value assigned to an investment if it sold the investment at approximately the time at which the Fund determines its NAV per share, and the actual value obtained could be materially different.

**Fair Valuation Procedures** 

Pursuant to Rule 2a-5 under the Investment Company Act of 1940, the Fund's Board of Trustees (the "Trustees") has designated the Adviser as the Fund's valuation designee to perform any fair value determinations for securities and other assets held by the Fund. The Adviser is subject to the Trustees' oversight and certain reporting and other requirements intended to provide the Trustees the information needed to oversee the Adviser's fair value determinations.

The Adviser, acting through its Valuation Committee, is responsible for determining the fair value of investments for which market quotations are not readily available. The Valuation Committee is comprised of officers of the Adviser and certain of the Adviser's affiliated companies and determines fair value and oversees the calculation of the NAV. The Valuation Committee is also authorized to use pricing services to provide fair value evaluations of the current value of certain investments for purposes of calculating the NAV. The Valuation Committee employs various methods for reviewing third-party pricing-service evaluations including periodic reviews of third-party pricing services' policies, procedures and valuation methods (including key inputs, methods, models and assumptions), transactional back-testing, comparisons of evaluations of different pricing services and review of price challenges by the Adviser based on recent market activity. In the event that market quotations and price evaluations are not available for an investment, the Valuation Committee determines the fair value of the investment in accordance with procedures adopted by the Adviser. The Trustees periodically review the fair valuations made by the Valuation Committee. The Trustees have also approved the Adviser's fair valuation and significant events procedures as part of the Fund's compliance program and will review any changes made to the procedures.

**15**

------

Factors considered by pricing services in evaluating an investment include the yields or prices of investments of comparable quality, coupon, maturity, call rights and other potential prepayments, terms and type, reported transactions, indications as to values from dealers and general market conditions. Some pricing services provide a single price evaluation reflecting the bid-side of the market for an investment (a "bid" evaluation). Other pricing services offer both bid evaluations and price evaluations indicative of a price between the prices bid and ask for the investment (a "mid" evaluation). The Fund normally uses bid evaluations for any U.S. Treasury and Agency securities, mortgage-backed securities and municipal securities. The Fund normally uses mid evaluations for any other types of fixed-income securities and any OTC derivative contracts. In the event that market quotations and price evaluations are not available for an investment, the fair value of the investment is determined in accordance with procedures adopted by the Adviser.

Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in the three broad levels listed below:

Level 1—quoted prices in active markets for identical securities.

Level 2—other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). Also includes securities valued at amortized cost.

Level 3—significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used, as of May 31, 2025, in valuing the Fund's assets carried at fair value:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs** | **Valuation Inputs** | **Valuation Inputs** | **Valuation Inputs** | **Valuation Inputs** |
|  | **Level 1—** <br>**Quoted** <br>**Prices**<br>| **Level 2—** <br>**Other** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3—** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>| **Total** |
| **Debt Securities:** |  |  |  |  |
| Municipal Bonds | &nbsp;&nbsp; $— | &nbsp;&nbsp; $433832076 | &nbsp;&nbsp; $137 | &nbsp;&nbsp; $433832213 |
| Short-Term Municipals | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2920000 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2920000 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL SECURITIES | &nbsp;&nbsp; $— | &nbsp;&nbsp; $436752076 | &nbsp;&nbsp; $137 | &nbsp;&nbsp; $436752213 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| The following acronym(s) are used throughout this portfolio: | The following acronym(s) are used throughout this portfolio: |
| CDD | —Community Development District |
| CVI | —Contingent-Value Instruments |
| EDA | —Economic Development Authority |
| GO | —General Obligation |
| GTD | —Guaranteed |
| IDA | —Industrial Development Authority |
| IDC | —Industrial Development Corporation |
| INS | —Insured |
| LIQ | —Liquidity Agreement |
| LP | —Limited Partnership |
| LT | —Limited Tax |
| PILOT | —Payment in Lieu of Taxes |
| PRF | —Pre-refunded |
| PUTTERs | —Puttable Tax-Exempt Receipts |
| SID | —Special Improvement District |
| TEMPS | —Tax Exempt Mandatory Paydown Securities |
| UT | —Unlimited Tax |
| VMTP | —Variable Municipal Term Preferred |
| VRDNs | —Variable Rate Demand Notes |

---

**16**

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Federated Hermes Municipal Securities Income Trust

- **b. Investment Company Act file number:** 811-06165

- **c. CIK number of Registrant:** 0000866700

- **d. LEI of Registrant:** 254900RAQHES8ITD1U55

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

  - **Street Address 1:** Federated Hermes Funds

  - **City:** Warrendale

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 15086-7561

  - **Telephone number:** 8003417400

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

- **a. Name of Series:** Federated Hermes Municipal High Yield Advantage Fund

- **b. EDGAR series identifier (if any):** S000012747

- **c. LEI of Series:** 549300HL3E2CQPWLHH76

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

- **a. Date of fiscal year-end:** 2025-08-31

- **b. Date as of which information is reported:** 2025-05-31

**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:** $443701799.95

**Total Liabilities:** $2298204.77

**Net Assets:** $441403595.18

**Delayed Delivery Securities:** $2054380.00

**Cash Not Reported:** $212458.67

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -270.004639200000 | **1-Year:** -7361.059703200000 | **5-Year:** -30159.416339600000 | **10-Year:** -90916.665621800000 | **30-Year:** -43189.475982100000

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

- **3-Month:** -491.778018500000 | **1-Year:** -9654.935621300000 | **5-Year:** -34928.026709300000 | **10-Year:** -85185.344253000000 | **30-Year:** -41635.240538400000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000034361 | -1.88%               | -1.42%               | -0.68%               |
| Class ID C000034363 | -1.94%               | -1.48%               | -0.62%               |
| Class ID C000034364 | -1.88%               | -1.42%               | -0.55%               |
| Class ID C000130166 | -1.86%               | -1.40%               | -0.66%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-823035.76              | $-9942824.65                               |
| Month 2  | $-956516.03              | $-7297030.41                               |
| Month 3  | $-3237020.35             | $-907079.30                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| LAS VEGAS NV SPL IMPT DIST #81 | City of Las Vegas NV Special Improvement District No 815                     | CUSIP: 51778VAQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    480000 | PA      | $448670.64    | 0.10%             | 2049-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP | New York Transportation Development Corp                                     | CUSIP: 650116EV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1653797.52   | 0.37%             | 2040-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH SPL REVEN | New Hampshire Business Finance Authority                                     | CUSIP: 63608TAD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $897660.54    | 0.20%             | 2030-12-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH REVENUE    | Indiana Finance Authority                                                    | CUSIP: 45506EAC7<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    915000 | PA      | $818038.55    | 0.19%             | 2055-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI RETMNT FAC  | Public Finance Authority                                                     | CUSIP: 74444VAH3<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2640209.10   | 0.60%             | 2053-10-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FINGA | PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY                        | CUSIP: 708686DZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2001416.40   | 0.45%             | 2044-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LAKEWOOD RANCH FL STEWARDSHIP  | Lakewood Ranch Stewardship District                                          | CUSIP: 51265KFJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1028604.30   | 0.23%             | 2054-05-01      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS NV SPL IMPT DIST #81 | City of Las Vegas NV Special Improvement District No 814                     | CUSIP: 51778UAT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1145000 | PA      | $913083.57    | 0.21%             | 2049-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LAKEWOOD RANCH FL STEWARDSHIP  | LAKEWOOD RANCH STEWARDSHIP DISTRICT                                          | CUSIP: 51265KBB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1004099.30   | 0.23%             | 2047-05-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE   | ILLINOIS FINANCE AUTHORITY                                                   | CUSIP: 45204EC30<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1618683.60   | 0.37%             | 2042-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CLACKAMAS CNTY OR HOSP FAC AUT | CLACKAMAS COUNTY HOSPITAL FACILITY AUTHORITY                                 | CUSIP: 179027XZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    635000 | PA      | $576189.35    | 0.13%             | 2043-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH HOSP REVEN | Indiana Finance Authority                                                    | CUSIP: 45471AUT7<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1013019.50   | 0.23%             | 2044-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FREDERICK CNTY MD TAX INCR & S | County of Frederick MD                                                       | CUSIP: 355612AE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1765000 | PA      | $1621798.67   | 0.37%             | 2043-07-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUB FACS AUTH REVENU | Louisiana Public Facilities Authority                                        | CUSIP: 546399SY3<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1015594.90   | 0.23%             | 2059-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HUNTSVILLE-REDSTONE VLY AL SPL | HUNTSVILLE-REDSTONE VILLAGE SPECIAL CARE FACILITIES FINANCING AUTHORITY      | CUSIP: 447297AV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $275000.00    | 0.06%             | 2047-01-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| NORTH RIVER RANCH IMPT STEWARD | North River Ranch Improvement Stewardship District                           | CUSIP: 66200PAG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $988786.20    | 0.22%             | 2054-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| KENTON CNTY KY ARPT BRD        | Kenton County Airport Board                                                  | CUSIP: 491026WK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $655647.46    | 0.15%             | 2054-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TALAVERA CDD FL CAPITAL IMPT R | TALAVERA CDD 4.35 5/40                                                       | CUSIP: 87410PAG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    495000 | PA      | $447860.51    | 0.10%             | 2040-05-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA ST DEV FIN AUTH HLTHS | Oklahoma Development Finance Authority                                       | CUSIP: 67884XCN5<br>LEI: 549300PXGPHUWC32DJ91 | Long             | DBT              | MUN               | US        |   2315000 | PA      | $2257577.58   | 0.51%             | 2057-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL TRANSIT AUTH SALES  | Chicago Transit Authority Sales Tax Receipts Fund                            | CUSIP: 16772PEP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $995978.70    | 0.23%             | 2049-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| YUMA AZ INDL DEV AUTH HOSP REV | Yuma Industrial Development Authority                                        | CUSIP: 988514DE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007656.50   | 0.23%             | 2054-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BASE VLG MET DIST #2 CO        | BASE VILLAGE METROPOLITAN DISTRICT NO 2                                      | CUSIP: 069781AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1499982.60   | 0.34%             | 2046-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TEXAS ST PRIV ACTIVITY BOND SU | Texas Private Activity Bond Surface Transportation Corp                      | CUSIP: 882667CJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1026084.80   | 0.23%             | 2040-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LAKEWOOD RANCH FL STEWARDSHIP  | Lakewood Ranch Stewardship District                                          | CUSIP: 51265KFZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    760000 | PA      | $716090.70    | 0.16%             | 2055-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST               | Commonwealth of Massachusetts                                                | CUSIP: 57582R8A7<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   1540000 | PA      | $1565172.53   | 0.35%             | 2054-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA | Chicago O'Hare International Airport                                         | CUSIP: 1675934T6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1287474.50   | 0.29%             | 2059-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH SPL REVEN | New Hampshire Business Finance Authority                                     | CUSIP: 63608TAC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $894824.73    | 0.20%             | 2035-12-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| LOUISVILLE & JEFFERSON CNTY KY | Louisville Regional Airport Authority                                        | CUSIP: 546598AC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $900000.00    | 0.20%             | 2029-01-01      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| ALBANY NY CAPITAL RESOURCE COR | Albany Capital Resource Corp                                                 | CUSIP: 012432EB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1835000 | PA      | $1704737.20   | 0.39%             | 2064-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE     | Public Finance Authority                                                     | CUSIP: 74442PTG0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1150598.70   | 0.26%             | 2056-03-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH RIVER RANCH IMPT STEWARD | North River Ranch Improvement Stewardship District                           | CUSIP: 66200PAF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $990180.00    | 0.22%             | 2043-05-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| CLACKAMAS CNTY OR HOSP FAC AUT | CLACKAMAS COUNTY HOSPITAL FACILITY AUTHORITY                                 | CUSIP: 179027XY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    440000 | PA      | $422665.67    | 0.10%             | 2038-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL MIDWAY ARPT REVENUE | Chicago Midway International Airport                                         | CUSIP: 167562SG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1051821.10   | 0.24%             | 2048-01-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| COLUMBUS OH REGL ARPT AUTH REV | Columbus Regional Airport Authority                                          | CUSIP: 199546DD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1544477.25   | 0.35%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST SCH FIN AUTH CHR | CALIFORNIA SCHOOL FINANCE AUTHORITY                                          | CUSIP: 13058TFZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $455446.90    | 0.10%             | 2047-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| NEW YORK ST PWR AUTH REVENUE   | New York Power Authority                                                     | CUSIP: 64989KLH7<br>LEI: I5P1GEYFGGMMDOFX2L30 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $834162.80    | 0.19%             | 2060-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DIRECTOR OF THE ST OF NEVADA D | State of Nevada Department of Business & Industry                            | CUSIP: 25490LAF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $973999.80    | 0.22%             | 2038-12-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA | CHICAGO O'HARE INTERNATIONAL AIRPORT                                         | CUSIP: 167590FA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1070033.51   | 0.24%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE     | Public Finance Authority                                                     | CUSIP: 74442PL78<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $491582.50    | 0.11%             | 2037-12-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| OHIO ST PRIVATE ACTIVITY REVEN | STATE OF OHIO                                                                | CUSIP: 67759YAQ0<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $930652.00    | 0.21%             | 2053-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KANSAS CITY MO LAND CLEARANCE  | KANSAS CITY LAND CLEARANCE REDEVELOPMENT AUTHORITY                           | CUSIP: 48504MAD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1867840.20   | 0.42%             | 2050-02-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| WILLOW WALK FL CMNTY DEV DIST  | WILLOW WALK COMMUNITY DEVELOPMENT DISTRICT                                   | CUSIP: 97122RAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000179.20   | 0.45%             | 2045-05-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| VENICE FL                      | City of Venice FL                                                            | CUSIP: 922687AE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1179771.00   | 0.27%             | 2060-01-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| DETROIT MI                     | City of Detroit MI                                                           | CUSIP: 2510936E5<br>LEI: 549300BQRJP7MKKHOY28 | Long             | DBT              | MUN               | US        |    250000 | PA      | $269786.83    | 0.06%             | 2043-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST ECON DEV CORP SPL  | Maryland Economic Development Corp                                           | CUSIP: 57422FAF3<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $802451.20    | 0.18%             | 2050-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH RE | New Jersey Economic Development Authority                                    | CUSIP: 64577XEG7<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    185000 | PA      | $198149.97    | 0.04%             | 2043-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRADITION CDD #9 FL SPL ASSMNT | Tradition Community Development District No 9                                | CUSIP: 89269NAD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1082549.16   | 0.25%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MAINE ST FIN AUTH SOL WST DISP | FINANCE AUTHORITY OF MAINE                                                   | CUSIP: 56042CAY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $486828.35    | 0.11%             | 2047-12-01      | Variable      | 4.62%                 | Yes           |                  2 | On Loan: No      |
| STERLING RANCH CMNTY AUTH BRD  | Sterling Ranch Community Authority Board                                     | CUSIP: 85950NAW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    735000 | PA      | $744132.45    | 0.17%             | 2054-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH NY BRIDGE & TUNNEL  | TRIBOROUGH BRIDGE & TUNNEL AUTHORITY                                         | CUSIP: 896032BD0<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2109581.20   | 0.48%             | 2059-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU          | Chicago Board of Education                                                   | CUSIP: 167505ZG4<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2087472.60   | 0.47%             | 2049-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP | New York Transportation Development Corp                                     | CUSIP: 650116GY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $524247.40    | 0.12%             | 2054-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| LOUISVILLE & JEFFERSON CNTY KY | Louisville/Jefferson County Metropolitan Government                          | CUSIP: 54659LCZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1022015.60   | 0.23%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI EXEMPT FACS | PUBLIC FINANCE AUTHORITY                                                     | CUSIP: 74443QAF9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $941883.50    | 0.21%             | 2035-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLORADO EDUCTNL & CULTURAL AU | Colorado Educational & Cultural Facilities Authority                         | CUSIP: 19645UNR1<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1605980.95   | 0.36%             | 2057-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA STADIUM & EXPOSITION | Louisiana Stadium & Exposition District                                      | CUSIP: 546410CX7<br>LEI: 5493000QEHWDGVGH7J62 | Long             | DBT              | MUN               | US        |    600000 | PA      | $604577.16    | 0.14%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                                  | CUSIP: 74514L3P0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $821392.80    | 0.19%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS NV SPL IMPT DIST NO  | City of Las Vegas NV Special Improvement District No 613                     | CUSIP: 51779CAN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $430057.67    | 0.10%             | 2047-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| EAGLE CNTY CO ARPT TERMINAL CO | EAGLE COUNTY AIRPORT TERMINAL CORP                                           | CUSIP: 26947EAS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $325375.70    | 0.07%             | 2027-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VERANDAH FL W CDD REVENUE      | VERANDAH WEST COMMUNITY DEVELOPMENT DISTRICT                                 | CUSIP: 922947AD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $825309.21    | 0.19%             | 2033-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT SEATTLE WA INDL DEV CORP  | PORT OF SEATTLE INDUSTRIAL DEVELOPMENT CORP                                  | CUSIP: 735385AC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $999944.30    | 0.23%             | 2030-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTMINSTER MD PROJ REVENUE    | CITY OF WESTMINSTER MD                                                       | CUSIP: 960735AS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $979887.80    | 0.22%             | 2044-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STWD CMNTYS DEV AUT | California Statewide Communities Development Authority                       | CUSIP: 13080SMK7<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2129671.58   | 0.48%             | 2046-12-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE     | Public Finance Authority                                                     | CUSIP: 74442PYS8<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2027027.80   | 0.46%             | 2052-12-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE     | Public Finance Authority                                                     | CUSIP: 74442PB53<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    900000 | PA      | $955429.83    | 0.22%             | 2028-11-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| BANNING LEWIS RANCH REGL MET D | BANNING LEWIS 5.375 12/48                                                    | CUSIP: 066639AA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $922598.70    | 0.21%             | 2048-12-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL AVIATION RE | County of Miami-Dade FL Aviation Revenue                                     | CUSIP: 593340AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1530126.90   | 0.35%             | 2055-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH RE | New Jersey Economic Development Authority                                    | CUSIP: 64577XEH5<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    315000 | PA      | $315868.93    | 0.07%             | 2043-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DALLAS-FORT WORTH TX INTERNATI | Dallas Fort Worth International Airport                                      | CUSIP: 23503CDD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1017327.30   | 0.23%             | 2047-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT ARPT REVENUE | City of Salt Lake City UT Airport Revenue                                    | CUSIP: 795576FX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $985965.20    | 0.22%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH SP | NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY                                    | CUSIP: 64578CCF6<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1269571.78   | 0.29%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FAYETTE CNTY GA DEV AUTH REVEN | Fayette County Development Authority                                         | CUSIP: 31222PAX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1985000 | PA      | $1996177.34   | 0.45%             | 2054-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| THREE RIVERS CDD FL            | Three Rivers Community Development District                                  | CUSIP: 88563MAJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $596004.72    | 0.14%             | 2043-05-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| HAWAII ST ARPTS SYS REVENUE    | State of Hawaii Airports System Revenue                                      | CUSIP: 419794J45<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $776796.08    | 0.18%             | 2054-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI | WASHINGTON STATE HOUSING FINANCE COMMISSION                                  | CUSIP: 939783SH0<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002513.20   | 0.23%             | 2050-07-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| FOREST LAKE MN CHARTER SCH LEA | FOREST LAKE MN 5.375 8/50                                                    | CUSIP: 345856AV0<br>LEI: 549300YEG0ZNW83BJB14 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $963694.30    | 0.22%             | 2050-08-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| TARRANT CNTY TX CULTURAL EDU F | Tarrant County Cultural Education Facilities Finance Corp                    | CUSIP: 87638RKH9<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1256541.90   | 0.28%             | 2055-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SOUTH JERSEY NJ PORT CORP      | SOUTH JERSEY PORT CORP                                                       | CUSIP: 838530RH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $476373.25    | 0.11%             | 2048-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUB FACS AUTH REVENU | Louisiana Public Facilities Authority                                        | CUSIP: 546399SX5<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1017884.30   | 0.23%             | 2054-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP HLTHCAREF | Florida Development Finance Corp                                             | CUSIP: 34061QCU9<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002476.70   | 0.23%             | 2055-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA REVENUE       | District of Columbia                                                         | CUSIP: 25483VWB6<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $922603.20    | 0.21%             | 2039-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HGR EDUCTNL FA | Pennsylvania Higher Educational Facilities Authority                         | CUSIP: 70917TRX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000118.10   | 0.23%             | 2051-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN  | New Hope Cultural Education Facilities Finance Corp                          | CUSIP: 64542UDW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1901306.40   | 0.43%             | 2042-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA STADIUM & EXPOSITION | Louisiana Stadium & Exposition District                                      | CUSIP: 546410CY5<br>LEI: 5493000QEHWDGVGH7J62 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2036633.60   | 0.46%             | 2053-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HLTH FACS AUTH REVENU | Idaho Health Facilities Authority                                            | CUSIP: 451295A90<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2350257.90   | 0.53%             | 2056-10-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST ECON DEV FIN AUTH  | KENTUCKY ECONOMIC DEVELOPMENT FINANCE AUTHORITY                              | CUSIP: 49126PFH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1463538.80   | 0.33%             | 2051-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRL FL EXPRESSWAY AUTH SR L | Central Florida Expressway Authority                                         | CUSIP: 153476JH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2025447.80   | 0.46%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP N | Tobacco Settlement Financing Corp/NJ                                         | CUSIP: 888808HT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4005000 | PA      | $3839637.56   | 0.87%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORFOLK VA REDEV & HSG AUTH RE | Norfolk Redevelopment & Housing Authority                                    | CUSIP: 655909CN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $852685.20    | 0.19%             | 2054-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH DO | New Jersey Economic Development Authority                                    | CUSIP: 64578TAA2<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1517939.70   | 0.34%             | 2035-01-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| WINONA MN PORT AUTH CHRT SCH L | WINONA PORT AUTHORITY                                                        | CUSIP: 975243AB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $286200.27    | 0.06%             | 2036-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP | New York Transportation Development Corp                                     | CUSIP: 650116EZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    665000 | PA      | $608748.65    | 0.14%             | 2031-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SALT VERDE AZ FINANCIAL CORP S | SALT VERDE FINANCIAL CORP                                                    | CUSIP: 79575EAS7<br>LEI: 549300VEWOZY6TQOIF03 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3101799.60   | 0.70%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BERKELEY CNTY SC ASSMNT REVENU | County of Berkeley SC                                                        | CUSIP: 084220AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $880784.10    | 0.20%             | 2040-11-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY CA CMNTY FACS DIST | Orange County Community Facilities District                                  | CUSIP: 68423PYA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1008328.20   | 0.23%             | 2042-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARBOR BAY FL CDD CAPITAL IMPT | Harbor Bay Community Development District                                    | CUSIP: 411466AG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $832494.30    | 0.19%             | 2048-05-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TX HGR EDU FIN CORP  | ARLINGTON HIGHER EDUCATION FINANCE CORP                                      | CUSIP: 041806HK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1021064.00   | 0.23%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH REVENUE   | New Hampshire Business Finance Authority                                     | CUSIP: 63607YCZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1029033.40   | 0.23%             | 2055-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT ARPT REVENUE | City of Salt Lake City UT Airport Revenue                                    | CUSIP: 795576MC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1027428.80   | 0.23%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| THREE RIVERS CDD FL            | Three Rivers Community Development District                                  | CUSIP: 88563MAK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $591708.42    | 0.13%             | 2053-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP | New York Transportation Development Corp                                     | CUSIP: 650110AD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $833574.60    | 0.19%             | 2046-10-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| STEEL POINT INFRASTRUCTURE IMP | Steel Point Infrastructure Improvement District                              | CUSIP: 85814YAF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1039722.20   | 0.24%             | 2052-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                                  | CUSIP: 74514L4G9<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   2632553 | PA      | $1355764.87   | 0.31%             | 2051-11-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| ONONDAGA NY CIVIC DEV CORP     | Onondaga Civic Development Corp                                              | CUSIP: 682832KJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $644859.23    | 0.15%             | 2054-08-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| NORTH LAS VEGAS NV LOCAL IMPT  | N LAS VEGAS IM 4.625 6/49                                                    | CUSIP: 66041HGZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    630000 | PA      | $552824.81    | 0.13%             | 2049-06-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH EN | NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY                                    | CUSIP: 64577QAG6<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $946641.90    | 0.21%             | 2043-06-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| LAKES OF SARASOTA CDD FL IMPT  | Lakes of Sarasota Community Development District                             | CUSIP: 51206YAE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $98344.98     | 0.02%             | 2031-05-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH EDU R | ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY                                     | CUSIP: 04052BEZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $458622.45    | 0.10%             | 2051-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| SUFFOLK REGL OFF-TRACK BETTING | Suffolk Regional Off-Track Betting Co                                        | CUSIP: 86480TAC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2146397.82   | 0.49%             | 2053-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DENVER CO CONVENTION CENTER HO | DENVER CONVENTION CENTER HOTEL AUTHORITY                                     | CUSIP: 249189DS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $492517.20    | 0.11%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUILD NYC RESOURCE CORP NY REV | BUILD NYC RESOURCE CORP                                                      | CUSIP: 12008ELT1<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    900000 | PA      | $900359.73    | 0.20%             | 2045-09-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| BRD OF MANAGERS TX JT GUADALUP | BOARD OF MANAGERS JOINT GUADALUPE COUNTY-CITY OF SEGUIN HOSPITAL             | CUSIP: 09659MAT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $924063.50    | 0.21%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAKEWOOD RANCH FL STEWARDSHIP  | Lakewood Ranch Stewardship District                                          | CUSIP: 51265KCP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    555000 | PA      | $449121.71    | 0.10%             | 2049-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N TX TOLLWAY AUTH REVENUE      | North Texas Tollway Authority                                                | CUSIP: 66285WR32<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1570799.55   | 0.36%             | 2041-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER CO HLTH & HOSP AUTH HLT | DENVER HEALTH & HOSPITAL AUTHORITY                                           | CUSIP: 24918EEA4<br>LEI: 549300WFV5S7GIR4OS67 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010650.40   | 0.23%             | 2034-12-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CAPITAL PROJS FL FIN AUTH SENI | Capital Projects Finance Authority/FL                                        | CUSIP: 14043HAE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1446820.65   | 0.33%             | 2065-01-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | HOUSING & REDEVELOPMENT AUTHORITY OF THE CITY OF ST PAUL MINNESOTA           | CUSIP: 852297AY6<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1915417.40   | 0.43%             | 2050-07-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR | Puerto Rico Electric Power Authority                                         | CUSIP: 74526YEE1<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $1940000.00   | 0.44%             | 2040-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MUNI ELEC AUTH OF GA           | Municipal Electric Authority of Georgia                                      | CUSIP: 62620HAX0<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    475000 | PA      | $466694.44    | 0.11%             | 2056-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BALTIMORE MD SPL OBLIG         | CITY OF BALTIMORE MD                                                         | CUSIP: 05923TBR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $481304.60    | 0.11%             | 2043-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| GULFPORT MS HOSP FAC REVENUE   | CITY OF GULFPORT MS                                                          | CUSIP: 402682DH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2028911.60   | 0.46%             | 2055-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LEE CNTY FL ARPT REVENUE       | County of Lee FL Airport Revenue                                             | CUSIP: 523470HW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1617996.80   | 0.37%             | 2049-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEVADA DEPT OF BUSINESS & INDU | NEVADA DEPARTMENT OF BUSINESS & INDUSTRY                                     | CUSIP: 641454AD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    905000 | PA      | $807753.77    | 0.18%             | 2047-07-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP V | TOBACCO SETTLEMENT FINANCING CORP/VA                                         | CUSIP: 88880NAU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2589999.90   | 0.59%             | 2047-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE | South Carolina Jobs-Economic Development Authority                           | CUSIP: 83704MBU9<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $830416.15    | 0.19%             | 2046-06-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                            | CUSIP: 452153FL8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    530000 | PA      | $542981.18    | 0.12%             | 2047-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR | Puerto Rico Electric Power Authority                                         | CUSIP: 74526YFG5<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $1212500.00   | 0.27%             | 2043-07-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| COLLIER CNTY FLA INDL DEV AUTH | COLLIER COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY                              | CUSIP: 194638AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2237081 | PA      | $223.71       | 0.00%             | 2049-05-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP | New York Transportation Development Corp                                     | CUSIP: 650116GN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2442829.28   | 0.55%             | 2035-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE PUTTERS/DRIVER | JPMorgan Chase Putters/Drivers Trust                                         | CUSIP: 46640KYX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $400000.00    | 0.09%             | 2027-06-01      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| DETROIT MI                     | City of Detroit MI                                                           | CUSIP: 2510934Q0<br>LEI: 549300BQRJP7MKKHOY28 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1013663.40   | 0.23%             | 2050-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST ECON DEV FIN AUTH  | KENTUCKY ECONOMIC DEVELOPMENT FINANCE AUTHORITY                              | CUSIP: 49126PFG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $769452.60    | 0.17%             | 2046-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OREGON ST                      | STATE OF OREGON                                                              | CUSIP: 68609UPR0<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1053482.20   | 0.24%             | 2050-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BUCKS CNTY PA INDL DEV AUTH    | BUCKS COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY                                | CUSIP: 118612MC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1856872.80   | 0.42%             | 2046-03-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE     | Public Finance Authority                                                     | CUSIP: 74442PP33<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $941793.40    | 0.21%             | 2036-12-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| PLYMOUTH MI EDUCTNL CENTER CHR | PLYMOUTH EDUCATIONAL CENTER CHARTER SCHOOL                                   | CUSIP: 729693AN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $750000.00    | 0.17%             | 2035-11-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| KALISPELL MT HSG & HLTHCARE FA | CITY OF KALISPELL MT                                                         | CUSIP: 48342YAR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $800734.59    | 0.18%             | 2047-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PORT OF PORTLAND OR ARPT REVEN | Port of Portland OR Airport Revenue                                          | CUSIP: 7352404H3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011261.40   | 0.23%             | 2054-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DENVER CO HLTH & HOSP AUTH HLT | Denver Health & Hospital Authority                                           | CUSIP: 24918EEP1<br>LEI: 549300WFV5S7GIR4OS67 | Long             | DBT              | MUN               | US        |    750000 | PA      | $794378.33    | 0.18%             | 2055-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH RE | New Jersey Economic Development Authority                                    | CUSIP: 64577XAC0<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    180000 | PA      | $180141.95    | 0.04%             | 2040-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR | Puerto Rico Electric Power Authority                                         | CUSIP: 74526YFF7<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    195000 | PA      | $94575.00     | 0.02%             | 2040-07-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| NEVADA DEPT OF BUSINESS & INDU | State of Nevada Department of Business & Industry                            | CUSIP: 641455AB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1907507.60   | 0.43%             | 2065-01-01      | Variable      | 9.50%                 | Yes           |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL  | PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT                            | CUSIP: 717824AL0<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    630000 | PA      | $642285.38    | 0.15%             | 2035-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH MUNI CTFS | NEW HAMPSHIRE BUSINESS FINANCE AUTHORITY                                     | CUSIP: 63607WAN4<br>LEI: N/A                  | Long             | ABS-MBS          | MUN               | US        |    978751 | PA      | $894555.77    | 0.20%             | 2038-01-20      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| KALISPELL MT HSG & HLTHCARE FA | CITY OF KALISPELL MT                                                         | CUSIP: 48342YAS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1425000 | PA      | $1232547.05   | 0.28%             | 2052-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MOBILE CNTY AL INDL DEV AUTH S | Mobile County Industrial Development Authority                               | CUSIP: 60733UAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $938142.90    | 0.21%             | 2054-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL  | Metropolitan Pier & Exposition Authority                                     | CUSIP: 592250FV1<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1438779.75   | 0.33%             | 2053-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                                  | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   2485714 | PA      | $1491428.57   | 0.34%             | 2043-11-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF ARPTS A | City of Los Angeles Department of Airports                                   | CUSIP: 5444457H6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2094011.60   | 0.47%             | 2055-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LT RANCH CDD FL CAPITAL IMPT R | LT Ranch Community Development District                                      | CUSIP: 54912EAM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010139.10   | 0.23%             | 2053-05-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA REVENUE       | DISTRICT OF COLUMBIA                                                         | CUSIP: 25483VSG0<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $864669.50    | 0.20%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WINDWARD AT LAKEWOOD RANCH CDD | Windward at Lakewood Ranch Community Development District                    | CUSIP: 97382EAK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1330000 | PA      | $1054023.54   | 0.24%             | 2052-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| TALAVERA CDD FL CAPITAL IMPT R | TALAVERA CDD 4.5 5/50                                                        | CUSIP: 87410PAH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    770000 | PA      | $657922.57    | 0.15%             | 2050-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| COLORADO EDUCTNL & CULTURAL AU | Colorado Educational & Cultural Facilities Authority                         | CUSIP: 19645UGH1<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |    500000 | PA      | $373063.30    | 0.08%             | 2061-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST PRIV ACTIVITY BOND SU | Texas Private Activity Bond Surface Transportation Corp                      | CUSIP: 882667BX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2048883.60   | 0.46%             | 2058-12-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY OH HLTH CARE F | County of Montgomery OH                                                      | CUSIP: 613518DJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $494316.50    | 0.11%             | 2054-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                            | CUSIP: 452152Q20<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   8000000 | PA      | $8265999.20   | 1.87%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST  | New Jersey Transportation Trust Fund Authority                               | CUSIP: 6461364F5<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    575000 | PA      | $592467.64    | 0.13%             | 2034-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH EDU R | ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY                                     | CUSIP: 04052BCS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $596209.19    | 0.14%             | 2051-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR | Puerto Rico Electric Power Authority                                         | CUSIP: 74526YFE0<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    310000 | PA      | $150350.00    | 0.03%             | 2033-07-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| NIAGARA NY AREA DEV CORP SOLID | NIAGARA AREA DEVELOPMENT CORP                                                | CUSIP: 653542AC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $906084.40    | 0.21%             | 2042-11-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MOBILE CNTY AL INDL DEV AUTH S | Mobile County Industrial Development Authority                               | CUSIP: 60733UAB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $901718.30    | 0.20%             | 2054-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FL HLTH FACS AUTH  | ORANGE COUNTY HEALTH FACILITIES AUTHORITY                                    | CUSIP: 68450LJQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1004177.90   | 0.23%             | 2056-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| IOWA ST FIN AUTH MIDWSTRN DISA | Iowa Finance Authority                                                       | CUSIP: 46246SAU9<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   2930000 | PA      | $3291819.55   | 0.75%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEWARK NJ MASS TRANSIT ACCESS  | City of Newark NJ Mass Transit Access Tax Revenue                            | CUSIP: 650360AD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1094563.50   | 0.25%             | 2062-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA JOBS-ECON DEV A | South Carolina Jobs-Economic Development Authority                           | CUSIP: 83704EAE4<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $995142.00    | 0.23%             | 2029-11-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| DETROIT MI DOWNTOWN DEV AUTH T | Detroit Downtown Development Authority                                       | CUSIP: 251135HU6<br>LEI: 549300WO3NSMP6FECO66 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1258374.38   | 0.29%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL AVIATION RE | County of Miami-Dade FL Aviation Revenue                                     | CUSIP: 59333PZ92<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1993882.80   | 0.45%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1828606.00   | 0.41%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| DELAWARE ST ECON DEV AUTH CHRT | Delaware State Economic Development Authority                                | CUSIP: 246372AY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1389479.68   | 0.31%             | 2041-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI CHRT SCH RE | Public Finance Authority                                                     | CUSIP: 744396FN7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1226118.71   | 0.28%             | 2054-06-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| BAYTOWN TWP MN LEASE           | TOWNSHIP OF BAYTOWN MN                                                       | CUSIP: 073225AX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $627558.68    | 0.14%             | 2041-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS IN LOCAL PUBLIC I | Indianapolis Local Public Improvement Bond Bank                              | CUSIP: 45528U6Y2<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1037272.50   | 0.23%             | 2057-03-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH EDUCTNL F | ILLINOIS FINANCE AUTHORITY                                                   | CUSIP: 452029AD3<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    815000 | PA      | $814978.97    | 0.18%             | 2045-02-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT AUTH IA TOB | Iowa Tobacco Settlement Authority                                            | CUSIP: 888805CF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2930000 | PA      | $2486476.23   | 0.56%             | 2049-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SHADOWLAWN CDD FL SPL ASSMNT R | Shadowlawn Community Development District                                    | CUSIP: 818820AC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $955418.10    | 0.22%             | 2054-05-01      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH REVENUE   | New Hampshire Business Finance Authority                                     | CUSIP: 63607YAJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $81561.59     | 0.02%             | 2045-07-01      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| TEXAS WTR DEV BRD REVENUE      | Texas Water Development Board                                                | CUSIP: 88285AGC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1783200.80   | 0.40%             | 2059-10-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                            | CUSIP: 452153KC2<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1019856.00   | 0.23%             | 2045-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH RE | California Municipal Finance Authority                                       | CUSIP: 13048VBY3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1946832.20   | 0.44%             | 2043-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA WTR & WSTWTR R | CITY OF PHILADELPHIA PA WATER & WASTEWATER REVENUE                           | CUSIP: 717893D24<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $987911.20    | 0.22%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCKVILLE MD MAYOR & COUNCIL E | City of Rockville MD                                                         | CUSIP: 774223BV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $920649.70    | 0.21%             | 2042-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA | Chicago O'Hare International Airport                                         | CUSIP: 167593Y48<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1024085.60   | 0.23%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST SCH FIN AUTH CHR | California School Finance Authority                                          | CUSIP: 13058TGD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $974104.20    | 0.22%             | 2037-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| TAMPA BAY FL WTR REGL WTR SPLY | Tampa Bay Water                                                              | CUSIP: 875124HX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2087603.00   | 0.47%             | 2054-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE     | Public Finance Authority                                                     | CUSIP: 74442PG58<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $887901.60    | 0.20%             | 2038-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4340000 | PA      | $4070692.58   | 0.92%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                                  | CUSIP: 74514L3J4<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2139955.00   | 0.48%             | 2031-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY MUNI WTR FIN  | New York City Municipal Water Finance Authority                              | CUSIP: 64972GL85<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4160248.40   | 0.94%             | 2055-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| RIVERS EDGE III CDD FL CAPITAL | Rivers Edge III Community Development District                               | CUSIP: 76882NAD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $687683.79    | 0.16%             | 2051-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL                     | City of Chicago IL                                                           | CUSIP: 167486E39<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1475000 | PA      | $1442485.84   | 0.33%             | 2049-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF ARPTS A | City of Los Angeles Department of Airports                                   | CUSIP: 5444452Y4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1040477.00   | 0.24%             | 2043-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BAYTOWN TWP MN LEASE           | TOWNSHIP OF BAYTOWN MN                                                       | CUSIP: 073225AY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $900990.75    | 0.20%             | 2046-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AUTH FL REVENUE  | Capital Trust Authority                                                      | CUSIP: 14055AAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1082303.30   | 0.25%             | 2029-10-03      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| CLACKAMAS CNTY OR HOSP FAC AUT | CLACKAMAS COUNTY HOSPITAL FACILITY AUTHORITY                                 | CUSIP: 179027YB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $424344.45    | 0.10%             | 2052-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RENO-TAHOE NV ARPT AUTH ARPT R | Reno-Tahoe Airport Authority                                                 | CUSIP: 759874CL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1504989.00   | 0.34%             | 2054-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY INDL DEV AUTH EX | Maricopa County Industrial Development Authority                             | CUSIP: 56678TAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $827154.90    | 0.19%             | 2047-10-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| HOUSTON TX ARPT SYS REVENUE    | City of Houston TX Airport System Revenue                                    | CUSIP: 442349GV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3044859.90   | 0.69%             | 2048-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH MUNI CTFS | New Hampshire Business Finance Authority                                     | CUSIP: 63607WAQ7<br>LEI: N/A                  | Long             | ABS-MBS          | MUN               | US        |    493428 | PA      | $457254.95    | 0.10%             | 2041-07-20      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP | New York Transportation Development Corp                                     | CUSIP: 650116HQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3003067.20   | 0.68%             | 2060-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PIMA CNTY AZ INDL DEV AUTH SEN | Industrial Development Authority of the County of Pima/The                   | CUSIP: 72178AAF9<br>LEI: 549300QDTQ25545R4K19 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1052013.10   | 0.24%             | 2035-11-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| WEST VIRGINIA ST ECON DEV AUTH | West Virginia Economic Development Authority                                 | CUSIP: 95648VBU2<br>LEI: 549300WW88TKKF5H1220 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $993560.80    | 0.23%             | 2055-01-01      | Variable      | 5.45%                 | Yes           |                  2 | On Loan: No      |
| SOUTH CAROLINA JOBS-ECON DEV A | South Carolina Jobs-Economic Development Authority                           | CUSIP: 83704EAC8<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1036289.50   | 0.23%             | 2053-11-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| TOLOMATO FL CDD                | Tolomato Community Development District                                      | CUSIP: 889560DG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $969497.00    | 0.22%             | 2037-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL EDU FACS FIN | New Hope Cultural Education Facilities Finance Corp                          | CUSIP: 64542QCH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1603903.20   | 0.36%             | 2046-08-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| INDIANAPOLIS IN LOCAL PUBLIC I | Indianapolis Local Public Improvement Bond Bank                              | CUSIP: 45528U6X4<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   1670000 | PA      | $1729439.31   | 0.39%             | 2053-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                    | City of New York NY                                                          | CUSIP: 64966SHL3<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2560245.60   | 0.58%             | 2052-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH AQUEDUCT &S | Puerto Rico Commonwealth Aqueduct & Sewer Authority                          | CUSIP: 745160TH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3424072.80   | 0.78%             | 2042-07-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP | New York Transportation Development Corp                                     | CUSIP: 650116CM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007850.60   | 0.23%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                            | CUSIP: 452153DA4<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1045831.30   | 0.24%             | 2042-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CALCASIEU PARISH LA MEMORIAL H | Calcasieu Parish Memorial Hospital Service District                          | CUSIP: 128423EY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $937882.80    | 0.21%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| POLK CNTY FL INDL DEV AUTH     | Polk County Industrial Development Authority                                 | CUSIP: 731120NQ0<br>LEI: 549300UTRO4TAORRAL04 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1015000.00   | 0.23%             | 2033-01-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| SAINT JAMES PARISH LA REVENUE  | Parish of St James LA                                                        | CUSIP: 790103AU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1063059.10   | 0.24%             | 2038-06-01      | Variable      | 6.10%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA PUBLIC FIN AUTH SEN | California Public Finance Authority                                          | CUSIP: 13057GAB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1131561.00   | 0.26%             | 2046-11-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| VIRGINIA ST SMALL BUSINESS FIN | VIRGINIA SMALL BUSINESS FINANCING AUTHORITY                                  | CUSIP: 928106AQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    370000 | PA      | $355406.05    | 0.08%             | 2048-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY                        | CUSIP: 70869PJY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1226857.88   | 0.28%             | 2038-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VERMONT ST ECON DEV AUTH SOLID | VERMONT ECONOMIC DEVELOPMENT AUTHORITY                                       | CUSIP: 924157AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005812.50   | 0.23%             | 2036-04-01      | Variable      | 4.62%                 | Yes           |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP | New York Transportation Development Corp                                     | CUSIP: 650116HV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2002534.40   | 0.45%             | 2054-12-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TEMPE AZ INDL DEV AUTH REVENUE | Tempe Industrial Development Authority                                       | CUSIP: 87972MAX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $260699.00    | 0.06%             | 2047-10-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| LAKEWOOD RANCH FL STEWARDSHIP  | Lakewood Ranch Stewardship District                                          | CUSIP: 51265KEN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $599301.60    | 0.14%             | 2050-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| M-S-R CA ENERGY AUTH GAS REVEN | M-S-R ENERGY AUTHORITY                                                       | CUSIP: 55374SAB6<br>LEI: 549300UEMSS1JTK5YB98 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2942384.75   | 0.67%             | 2034-11-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS IN LOCAL PUBLIC I | Indianapolis Local Public Improvement Bond Bank                              | CUSIP: 45528U7L9<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1088600.00   | 0.25%             | 2067-03-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HLTH & EDUCTNL FA | Wisconsin Health & Educational Facilities Authority                          | CUSIP: 97712JMT7<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2022808.00   | 0.46%             | 2055-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ARBORWOOD FL CDD CAPITAL IMPT  | ARBORWOOD COMMUNITY DEVELOPMENT DISTRICT                                     | CUSIP: 038926AN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $115044.45    | 0.03%             | 2036-05-01      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| CUYAHOGA CNTY OH HOSP REVENUE  | County of Cuyahoga OH                                                        | CUSIP: 2322655U8<br>LEI: 549300GHDK9DGLUNJU89 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $976249.60    | 0.22%             | 2052-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH EDU R | Arizona Industrial Development Authority                                     | CUSIP: 04052BHE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1756359.68   | 0.40%             | 2048-07-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| LOUISIANA PUB FACS AUTH REVENU | LOUISIANA PUBLIC FACILITIES AUTHORITY                                        | CUSIP: 546399DE3<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |     30000 | PA      | $30528.11     | 0.01%             | 2047-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TULSA CNTY OK INDL AUTH SENIOR | TULSA COUNTY INDUSTRIAL AUTHORITY                                            | CUSIP: 899530BA6<br>LEI: 549300WEYXBXLGN1E271 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1694711.20   | 0.38%             | 2045-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA DEV AUTH            | Atlanta Development Authority/The                                            | CUSIP: 04780NMX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2010259.60   | 0.46%             | 2039-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VIERA STEWARDSHIP DIST FL SPL  | Viera Stewardship District                                                   | CUSIP: 92670TAD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1133732.25   | 0.26%             | 2053-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHESTER CNTY PA INDL DEV AUTH  | CHESTER COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY                              | CUSIP: 165588DR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $720527.44    | 0.16%             | 2051-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUB FACS AUTH REVENU | LOUISIANA PUBLIC FACILITIES AUTHORITY                                        | CUSIP: 546399DV5<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    970000 | PA      | $939065.15    | 0.21%             | 2047-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI | Washington State Housing Finance Commission                                  | CUSIP: 93978T4M8<br>LEI: 549300YL1HU59NREG764 | Long             | ABS-MBS          | MUN               | US        |   1641481 | PA      | $1477565.17   | 0.33%             | 2037-04-20      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN CHARTER SCH LEA | CITY OF MINNEAPOLIS MN                                                       | CUSIP: 60375CAW4<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2652728.70   | 0.60%             | 2047-12-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| HILLSBOROUGH CNTY FL AVIATION  | Hillsborough County Aviation Authority                                       | CUSIP: 432308X25<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1030606.70   | 0.23%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP SENIOR | Florida Development Finance Corp                                             | CUSIP: 34061WBN3<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $681425.70    | 0.15%             | 2055-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DENVER CITY & CNTY CO ARPT REV | City & County of Denver CO Airport System Revenue                            | CUSIP: 249182VB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $799072.43    | 0.18%             | 2040-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PIMA CNTY AZ INDL DEV AUTH SEN | Industrial Development Authority of the County of Pima/The                   | CUSIP: 72178AAJ1<br>LEI: 549300QDTQ25545R4K19 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1045163.40   | 0.24%             | 2057-11-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| ORANGE CNTY CA CMNTY FACS DIST | Orange County Community Facilities District                                  | CUSIP: 68423PA91<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031762.20   | 0.23%             | 2053-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NORTHAMPTON CNTY PA GEN PURPOS | Northampton County General Purpose Authority                                 | CUSIP: 66353RDF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4037013.20   | 0.91%             | 2053-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST TURNPIKE AUT | North Carolina Turnpike Authority                                            | CUSIP: 65830RDA4<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1482475.80   | 0.34%             | 2058-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA INCOME TAX SE | District of Columbia Income Tax Revenue                                      | CUSIP: 25477GYP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1573450.50   | 0.36%             | 2050-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP | New York Transportation Development Corp                                     | CUSIP: 650116FR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005486.60   | 0.23%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAKEWOOD RANCH FL STEWARDSHIP  | LAKEWOOD RANCH STEWARDSHIP DISTRICT                                          | CUSIP: 51265KAW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1075000 | PA      | $1034683.09   | 0.23%             | 2046-05-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE | SOUTH CAROLINA JOBS-ECONOMIC DEVELOPMENT AUTHORITY                           | CUSIP: 83704CAF5<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $886096.30    | 0.20%             | 2052-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LT RANCH CDD FL CAPITAL IMPT R | LT RANCH CDD FL CA 4 5/50                                                    | CUSIP: 54912EAD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $663054.89    | 0.15%             | 2050-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHESTER CNTY PA INDL DEV AUTH  | CHESTER COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY                              | CUSIP: 165588DQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1109373.12   | 0.25%             | 2047-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW ORLEANS LA AVIATION BRD    | New Orleans Aviation Board                                                   | CUSIP: 64763HMS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1723830.60   | 0.39%             | 2045-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX ARPT SYS REVENUE    | City of Houston TX Airport System Revenue                                    | CUSIP: 442349HZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1535526.30   | 0.35%             | 2039-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FOREST LAKE MN CHARTER SCH LEA | CITY OF FOREST LAKE MN                                                       | CUSIP: 345856AJ7<br>LEI: 549300YEG0ZNW83BJB14 | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1700206.72   | 0.39%             | 2044-08-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PUBLIC AUTH FOR COLORADO ST EN | PUBLIC AUTHORITY FOR COLORADO ENERGY                                         | CUSIP: 744387AC5<br>LEI: 549300C6IJKXQOMRAB11 | Long             | DBT              | MUN               | US        |   1670000 | PA      | $1744612.09   | 0.40%             | 2028-11-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL  | New York City Transitional Finance Authority Future Tax Secured Revenue      | CUSIP: 64971XQM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $447132.35    | 0.10%             | 2045-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST EDUCTNL & CULTURAL | Colorado Educational & Cultural Facilities Authority                         | CUSIP: 19645RY54<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002841.40   | 0.23%             | 2036-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| WASHINGTON DC MET AREA TRANSIT | Washington Metropolitan Area Transit Authority Dedicated Revenue             | CUSIP: 93878YDY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1782516.40   | 0.40%             | 2059-07-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| MILLSBORO DE SPL OBLG          | MILLSBORO SPL 5.125 7/38                                                     | CUSIP: 601266AC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2902671.00   | 0.66%             | 2038-07-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH SE | California Public Finance Authority                                          | CUSIP: 13057TAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2076487.20   | 0.47%             | 2065-07-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| PHOENIX AZ INDL DEV AUTH EDU R | INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF PHOENIX/THE                  | CUSIP: 71885FEJ2<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $940732.80    | 0.21%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP SOL WS | Florida Development Finance Corp                                             | CUSIP: 34061XAG7<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    665000 | PA      | $661893.52    | 0.15%             | 2054-10-01      | Variable      | 4.38%                 | No            |                  2 | On Loan: No      |
| TARRANT CNTY TX CULTURAL EDU F | Tarrant County Cultural Education Facilities Finance Corp                    | CUSIP: 87638QSD2<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1036118.20   | 0.23%             | 2047-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TSASC INC NY                   | TSASC Inc/NY                                                                 | CUSIP: 898526FR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2850000 | PA      | $2487092.12   | 0.56%             | 2048-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN  | NEW HOPE CULTURAL EDUCATION FACILITIES FINANCE CORP                          | CUSIP: 64542UCZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $781541.80    | 0.18%             | 2046-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MUSKINGUM CNTY OH HOSP FACS    | COUNTY OF MUSKINGUM OH                                                       | CUSIP: 628077CV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1884925.00   | 0.43%             | 2044-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEE CNTY FL INDL DEV AUTH HLTH | Lee County Industrial Development Authority/FL                               | CUSIP: 52349EEL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $849346.10    | 0.19%             | 2057-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT | Utah Charter School Finance Authority                                        | CUSIP: 91754TUW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1895458.80   | 0.43%             | 2037-06-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| HUNTSVILLE-REDSTONE VLY AL SPL | HUNTSVILLE-REDSTONE VILLAGE SPECIAL CARE FACILITIES FINANCING AUTHORITY      | CUSIP: 447297AL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $825000.00    | 0.19%             | 2043-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV | Colorado Health Facilities Authority                                         | CUSIP: 19648FAY0<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1504496.70   | 0.34%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA SCH FIN AUTH SCH FA | CALIFORNIA SCHOOL FINANCE AUTHORITY                                          | CUSIP: 13059TEW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $477244.70    | 0.11%             | 2047-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| RIVER LANDING CDD FL CAP IMPT  | River Landing Community Development District                                 | CUSIP: 76828JAD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $938675.70    | 0.21%             | 2051-05-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| LT RANCH CDD FL CAPITAL IMPT R | LT Ranch Community Development District                                      | CUSIP: 54912EAP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $492082.05    | 0.11%             | 2044-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HENRICO CNTY VA ECON DEV AUTH  | Henrico County Economic Development Authority                                | CUSIP: 42605XAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $754087.58    | 0.17%             | 2048-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST DEV AUTH ARPT F | CONNECTICUT STATE DEVELOPMENT AUTHORITY                                      | CUSIP: 207907AW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000114.10   | 0.23%             | 2026-04-01      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| BUILD NYC RESOURCE CORP NY REV | Build NYC Resource Corp                                                      | CUSIP: 12008QAG4<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009703.50   | 0.23%             | 2055-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX ARPT SYS REVENUE    | CITY OF HOUSTON TX AIRPORT SYSTEM REVENUE                                    | CUSIP: 4423485T1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1503181.05   | 0.34%             | 2038-07-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| REUNION E FL CDD SPL ASSMNT    | REUNION EAST COMMUNITY DEVELOPMENT DISTRICT                                  | CUSIP: 761311AL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $1.45         | 0.00%             | 2033-05-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| CLACKAMAS CNTY OR HOSP FAC AUT | CLACKAMAS COUNTY HOSPITAL FACILITY AUTHORITY                                 | CUSIP: 179027YA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $349624.00    | 0.08%             | 2048-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT AUTH IA TOB | Iowa Tobacco Settlement Authority                                            | CUSIP: 888805CH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50000.00     | 0.01%             | 2049-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX HOSP DIST CTFS  | Harris County Hospital District                                              | CUSIP: 41415UCE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023831.50   | 0.23%             | 2055-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SIOUX FALLS SD HLTH FACS REVEN | CITY OF SIOUX FALLS SD                                                       | CUSIP: 829566CR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $883392.70    | 0.20%             | 2042-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY AL SWR REVENUE  | County of Jefferson AL Sewer Revenue                                         | CUSIP: 472682ZS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2048857.80   | 0.46%             | 2053-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH MUNI CTFS | New Hampshire Business Finance Authority                                     | CUSIP: 63607WBD5<br>LEI: N/A                  | Long             | ABS-MBS          | MUN               | US        |    499283 | PA      | $464394.30    | 0.11%             | 2041-01-20      | Variable      | 4.09%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $1595321.00   | 0.36%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX INDL DEV CORP   | Harris County Industrial Development Corp                                    | CUSIP: 414189AK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2920000 | PA      | $2855595.02   | 0.65%             | 2050-11-01      | Variable      | 4.05%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN  | TARRANT COUNTY CULTURAL EDUCATION FACILITIES FINANCE CORP                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1606885 | PA      | $560567.13    | 0.13%             | 2061-11-15      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | CUSIP: 74529JQH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6764000 | PA      | $1586937.89   | 0.36%             | 2051-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ARKANSAS DEV FIN AUTH ENVIRONM | Arkansas Development Finance Authority                                       | CUSIP: 04110FAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1241526.25   | 0.28%             | 2052-09-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| ROCKDALE CNTY GA DEV AUTH      | ROCKDALE COUNTY DEVELOPMENT AUTHORITY                                        | CUSIP: 773008AR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $460043.35    | 0.10%             | 2038-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WINONA MN PORT AUTH CHRT SCH L | WINONA PORT AUTHORITY                                                        | CUSIP: 975243AC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $605890.80    | 0.14%             | 2046-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST MED CARE COM | North Carolina Medical Care Commission                                       | CUSIP: 65820YTP1<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   1665000 | PA      | $1536960.00   | 0.35%             | 2054-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ST HOSP FIN AUTH | West Virginia Hospital Finance Authority                                     | CUSIP: 956622X25<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1062676.70   | 0.24%             | 2053-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA BEACH VA DEV AUTH RSD | Virginia Beach Development Authority                                         | CUSIP: 92774NBC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1365000 | PA      | $1484445.69   | 0.34%             | 2059-09-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SIOUX FALLS SD HLTH FACS REVEN | CITY OF SIOUX FALLS SD                                                       | CUSIP: 829566CS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $856059.50    | 0.19%             | 2047-11-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS NV SPL IMPT DIST #61 | City of Las Vegas NV Special Improvement District No 611                     | CUSIP: 51778CAS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $8005.45      | 0.00%             | 2050-06-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| LT RANCH CDD FL CAPITAL IMPT R | LT Ranch Community Development District                                      | CUSIP: 54912EAQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $490917.05    | 0.11%             | 2054-05-01      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST INFRASTRUCTURE & | California Infrastructure & Economic Development Bank                        | CUSIP: 13034A6B1<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $968677.10    | 0.22%             | 2065-01-01      | Variable      | 9.50%                 | Yes           |                  2 | On Loan: No      |
| TEXAS ST TRANSPRTN COMMISSION  | Texas Transportation Commission                                              | CUSIP: 88283NAZ5<br>LEI: 5493006JSGNPGVJS7691 | Long             | DBT              | MUN               | US        |   1195000 | PA      | $1190479.43   | 0.27%             | 2057-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY AL SWR REVENUE  | County of Jefferson AL Sewer Revenue                                         | CUSIP: 472682ZR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2019479.20   | 0.46%             | 2049-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL                     | City of Chicago IL                                                           | CUSIP: 167486T33<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   3700000 | PA      | $3617027.87   | 0.82%             | 2045-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| KIRKWOOD MO INDL DEV AUTH RETM | KIRKWOOD INDUSTRIAL DEVELOPMENT AUTHORITY                                    | CUSIP: 497609BD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $828703.10    | 0.19%             | 2050-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MUNI ELEC AUTH OF GA           | Municipal Electric Authority of Georgia                                      | CUSIP: 62620HHP0<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1532522.10   | 0.35%             | 2064-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ST ECON DEV AUTH | West Virginia Economic Development Authority                                 | CUSIP: 95648VBV0<br>LEI: 549300WW88TKKF5H1220 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $993932.10    | 0.23%             | 2055-04-15      | Variable      | 4.62%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HLTH FACS AUTH REVENU | Idaho Health Facilities Authority                                            | CUSIP: 451295D97<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2098000.40   | 0.48%             | 2057-11-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| BALTIMORE MD SPL OBLIG         | CITY OF BALTIMORE MD                                                         | CUSIP: 05923TBY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    955000 | PA      | $953554.42    | 0.22%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET ATLANTA RAPID TRANSIT AUTH | Metropolitan Atlanta Rapid Transit Authority                                 | CUSIP: 591746CA8<br>LEI: 5493006NVWO3NVLK0F49 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3081462.90   | 0.70%             | 2055-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST SCH FIN AUTH CHR | California School Finance Authority                                          | CUSIP: 13058TSQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    580000 | PA      | $601879.28    | 0.14%             | 2053-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| NASSAU CNTY NY INDL DEV AGY CC | Nassau County Industrial Development Agency                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1365028 | PA      | $136.50       | 0.00%             | 2058-01-01      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| OHIO ST HGR EDUCTNL FAC COMMIS | Ohio Higher Educational Facility Commission                                  | CUSIP: 67756DBD7<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1250000.00   | 0.28%             | 2039-01-01      | Variable      | 2.15%                 | No            |                  2 | On Loan: No      |
| TOLOMATO FL CDD                | Tolomato Community Development District                                      | CUSIP: 889560DX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $846362.34    | 0.19%             | 2040-05-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                                  | CUSIP: 74514L3M7<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $923300.60    | 0.21%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE | South Carolina Jobs-Economic Development Authority                           | CUSIP: 83704CAX6<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $985317.80    | 0.22%             | 2038-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU          | CHICAGO BOARD OF EDUCATION                                                   | CUSIP: 167505RM0<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   3300000 | PA      | $3395205.00   | 0.77%             | 2046-12-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| GOLDEN ST TOBACCO SECURITIZATI | Golden State Tobacco Securitization Corp                                     | CUSIP: 38122NB84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  14000000 | PA      | $1501820.60   | 0.34%             | 2066-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE CNTY PA INDL DEV AUTH | Delaware County Industrial Development Authority/PA                          | CUSIP: 245903AB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    370000 | PA      | $370000.00    | 0.08%             | 2045-09-01      | Variable      | 2.15%                 | No            |                  2 | On Loan: No      |
| TSASC INC NY                   | TSASC INC/NY                                                                 | CUSIP: 898526FF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $973016.10    | 0.22%             | 2041-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR | Puerto Rico Electric Power Authority                                         | CUSIP: 74526YCZ6<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    995000 | PA      | $482575.00    | 0.11%             | 2042-07-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| SEMINOLE CNTY FL INDL DEV AUTH | Seminole County Industrial Development Authority                             | CUSIP: 81669TAD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1165271.63   | 0.26%             | 2054-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL  | METROPOLITAN PIER & EXPOSITION AUTHORITY                                     | CUSIP: 592250CK8<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $342625.40    | 0.08%             | 2056-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST SCH FIN AUTH CHR | California School Finance Authority                                          | CUSIP: 13058TTB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    520000 | PA      | $451734.30    | 0.10%             | 2053-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| XENIA IA RURAL WTR DIST        | XENIA RURAL WATER DISTRICT                                                   | CUSIP: 98410ADE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $10311.78     | 0.00%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI EDU REVENUE | Public Finance Authority                                                     | CUSIP: 74442ELV0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1345151.25   | 0.30%             | 2054-12-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| HACIENDA NORTH CDD FL SPL ASSM | Hacienda North Community Development District                                | CUSIP: 404511AD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1042530.80   | 0.24%             | 2053-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CHANDLER AZ INDL DEV AUTH INDL | Chandler Industrial Development Authority                                    | CUSIP: 158862CB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1018677.10   | 0.23%             | 2052-09-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HLTH FACS AUTH REVENU | Idaho Health Facilities Authority                                            | CUSIP: 451295B24<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |    490000 | PA      | $481607.23    | 0.11%             | 2028-10-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ALTA LAKES CMNTY DEV DIST FL S | Alta Lakes Community Development District                                    | CUSIP: 021304AD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1245000 | PA      | $1101824.88   | 0.25%             | 2049-05-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| DU PAGE CNTY IL SPL SVC AREA # | DU PAGE COUNTY SPECIAL SERVICE AREA NO 31                                    | CUSIP: 26350TAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    313000 | PA      | $306732.14    | 0.07%             | 2036-03-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE     | PUBLIC FINANCE AUTHORITY                                                     | CUSIP: 74442PF75<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2041978.80   | 0.46%             | 2054-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BANNING LEWIS RANCH MET DIST N | BANNING LEWIS 5.75 12/48                                                     | CUSIP: 066637AA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $969546.20    | 0.22%             | 2048-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TULSA OK MUNI ARPT TRUST TRUST | Tulsa Municipal Airport Trust Trustees/OK                                    | CUSIP: 899661EM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $546665.80    | 0.12%             | 2035-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH SO | California Municipal Finance Authority                                       | CUSIP: 13048RAM9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2229602.18   | 0.51%             | 2053-09-01      | Variable      | 4.38%                 | No            |                  2 | On Loan: No      |
| BUILD NYC RESOURCE CORP NY REV | Build NYC Resource Corp                                                      | CUSIP: 12008ETZ9<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $975947.20    | 0.22%             | 2062-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| OHIO ST AIR QUALITY DEV AUTH E | OHIO AIR QUALITY DEVELOPMENT AUTHORITY                                       | CUSIP: 67754AAE4<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $878719.50    | 0.20%             | 2048-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                                  | CUSIP: 74514L3N5<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4282223.50   | 0.97%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HACIENDA NORTH CDD FL SPL ASSM | Hacienda North Community Development District                                | CUSIP: 404511AC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $521810.10    | 0.12%             | 2043-05-01      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| SOUTHERN GROVE CMNTY DEV DIST  | Southern Groves Community Development District No 5                          | CUSIP: 843021AD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $493557.77    | 0.11%             | 2043-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BUCKEYE OH TOBACCO SETTLEMENT  | Buckeye Tobacco Settlement Financing Authority                               | CUSIP: 118217CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5600000 | PA      | $4845366.96   | 1.10%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLENTOWN PA NEIGHBORHOOD IMPT | Allentown Neighborhood Improvement Zone Development Authority                | CUSIP: 018444CC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $771332.64    | 0.17%             | 2042-05-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| DIST OF COLUMBIA REVENUE       | DISTRICT OF COLUMBIA                                                         | CUSIP: 25483VQY3<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $950473.10    | 0.22%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GLEN COVE NY LOCAL ECON ASSIST | GLEN COVE LOCAL ECONOMIC ASSISTANCE CORP                                     | CUSIP: 377450AE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4455000 | PA      | $1151139.48   | 0.26%             | 2045-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST FIN AUTH ACT 38 FA | MICHIGAN FINANCE AUTHORITY                                                   | CUSIP: 59447NBE5<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1036098.10   | 0.23%             | 2057-02-28      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP | New York Transportation Development Corp                                     | CUSIP: 650116DA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1328495.10   | 0.30%             | 2045-10-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH SPL REVEN | New Hampshire Business Finance Authority                                     | CUSIP: 63608TAR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005852.70   | 0.23%             | 2030-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA SCH FIN AUTH SCH FA | CALIFORNIA SCHOOL FINANCE AUTHORITY                                          | CUSIP: 13059TBZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    565000 | PA      | $543322.93    | 0.12%             | 2045-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| TARRANT CNTY TX CULTURAL EDU F | TARRANT COUNTY CULTURAL EDUCATION FACILITIES FINANCE CORP                    | CUSIP: 87638RJE8<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   2655000 | PA      | $2686059.25   | 0.61%             | 2052-11-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CALIF CITY &CNTY | San Francisco City & County Airport Comm-San Francisco International Airport | CUSIP: 79766DWW5<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |    600000 | PA      | $616231.44    | 0.14%             | 2044-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI | WASHINGTON STATE HOUSING FINANCE COMMISSION                                  | CUSIP: 939783SG2<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002513.20   | 0.23%             | 2045-07-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| VALPARAISO IN EXEMPT FACS REVE | City of Valparaiso IN                                                        | CUSIP: 92028RAF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $693884.63    | 0.16%             | 2054-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority                        | CUSIP: 70868YAY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2075826.00   | 0.47%             | 2061-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HENDERSON KY EXEMPT FACS REVEN | City of Henderson KY                                                         | CUSIP: 425099AB4<br>LEI: 549300UJ32J1O26W1T80 | Long             | DBT              | MUN               | US        |    375000 | PA      | $333364.20    | 0.08%             | 2052-01-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| ST CLOUD MN CHRT SCH LEASE REV | CITY OF ST CLOUD MN                                                          | CUSIP: 788326AD8<br>LEI: 549300IOO80ICGIWAU74 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1586608.80   | 0.36%             | 2046-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FULTON CNTY GA RSDL CARE FACS  | FULTON COUNTY RESIDENTIAL CARE FACILITIES FOR THE ELDERLY AUTHORITY          | CUSIP: 360059AM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001135.50   | 0.23%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BOGGY BRANCH CMNTY DEV DIST FL | Boggy Branch Community Development District                                  | CUSIP: 09720PAD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1360000 | PA      | $1058962.10   | 0.24%             | 2051-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST EDUCTNL & CULTURAL | COLORADO EDUCATIONAL & CULTURAL FACILITIES AUTHORITY                         | CUSIP: 19645RB42<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $930446.40    | 0.21%             | 2045-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS NV SPL IMPT DIST NO  | City of Las Vegas NV Special Improvement District No 613                     | CUSIP: 51779CAP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $486932.95    | 0.11%             | 2053-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LAKEWOOD RANCH FL STEWARDSHIP  | Lakewood Ranch Stewardship District                                          | CUSIP: 51265KBT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003776.90   | 0.23%             | 2048-05-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| N RANGE CO MET DIST #2         | NORTH RANGE METROPOLITAN DISTRICT NO 2                                       | CUSIP: 66176MAF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2408807.75   | 0.55%             | 2047-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R | Massachusetts Development Finance Agency                                     | CUSIP: 57585BEX2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1008620.70   | 0.23%             | 2050-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LOUISVILLE & JEFFERSON CNTY KY | Louisville/Jefferson County Metropolitan Government                          | CUSIP: 54659LCY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1029198.70   | 0.23%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STAMFORD CT HSG AUTH           | Stamford Housing Authority                                                   | CUSIP: 852640AK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $982677.10    | 0.22%             | 2055-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL                     | City of Chicago IL                                                           | CUSIP: 167486P52<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1286796.00   | 0.29%             | 2039-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LAKES OF SARASOTA CDD FL IMPT  | Lakes of Sarasota Community Development District                             | CUSIP: 51206YAD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    265000 | PA      | $211767.60    | 0.05%             | 2051-05-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI LIMITED OBL | PUBLIC FINANCE AUTHORITY                                                     | CUSIP: 74446HAD1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1500702.30   | 0.34%             | 2050-12-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-22

**Name of Applicant:** Federated Hermes Municipal Securities Income Trust

**Signature:** Stephen Van Meter

**Name of Signer:** Federated Hermes Municipal Securities Income Trust

**Title:** Chief Compliance Officer