# EDGAR Filing Document

**Accession Number:** 0000789281
**File Stem:** 0001145549-23-017747
**Filing Date:** 2023-3
**Character Count:** 288489
**Document Hash:** f448220f08d86188986544c4d8544b05
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-017747.hdr.sgml**: 20230323

**ACCESSION NUMBER**: 0001145549-23-017747

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230323

**DATE AS OF CHANGE**: 20230323

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Federated Hermes Income Securities Trust
- **CENTRAL INDEX KEY:** 0000789281
- **IRS NUMBER:** 251412886
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04577
- **FILM NUMBER:** 23755428

**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 INCOME SECURITIES TRUST
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FEDERATED FLOATING RATE TRUST
- **DATE OF NAME CHANGE:** 19920205

## Series and Classes Contracts Data

### Federated Hermes Muni and Stock Advantage Fund (Series ID: S000009076)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000024657 | Class A Shares       | FMUAX           |
| C000024658 | Class B Shares       | FMNBX           |
| C000024659 | Class C Shares       | FMUCX           |
| C000051328 | Class F Shares       | FMUFX           |
| C000098257 | Institutional Shares | FMUIX           |
| C000188219 | Class T Shares       |  |

## Nport-Ex

Federated Hermes Muni and Stock Advantage Fund

Portfolio of Investments

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
| **Shares or**<br> **Principal**<br> **Amount**<br>|  | **Value** |
|  | MUNICIPAL BONDS—58.4% |  |
|  | **Alabama—0.5%** |  |
| $5000000<br><sup>1</sup> <br>| Black Belt Energy Gas District, AL, Gas Project Revenue Bonds (Series 2022B-2) FRNs, (Goldman Sachs Group, Inc. GTD), <br> 2.310% (SIFMA 7-day +0.650%), Mandatory Tender 10/1/2027<br>| $4803183 |
| &nbsp;&nbsp;&nbsp; 2000000 | Lower Alabama Gas District, Gas Project Revenue Bonds (Series 2016A), (Goldman Sachs Group, Inc. GTD), <br> 5.000%, 9/1/2046<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2100027 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6903210 |
|  | **Arizona—1.4%** |  |
| &nbsp;&nbsp;&nbsp; 2000000 | Arizona Board of Regents (University of Arizona), System Revenue and Refunding Bonds (Series 2021A), 5.000%, 6/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2261842 |
| &nbsp;&nbsp;&nbsp; 1225000 | Arizona State IDA (Basis Schools, Inc. Obligated Group), Education Revenue Bonds (Series 2017F), (School District Credit <br> Program GTD), 5.000%, 7/1/2052<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1262514 |
| &nbsp;&nbsp;&nbsp; 1500000 | Arizona State IDA (Equitable School Revolving Fund), Senior National Charter School Revenue Bonds (Series 2020A), <br> 4.000%, 11/1/2050<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1351311 |
| &nbsp;&nbsp;&nbsp; 4250000 | Arizona State IDA (Equitable School Revolving Fund), Senior National Charter School Revolving Loan Fund Revenue Bonds <br> (Series 2022A), 5.000%, 11/1/2047<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4454836 |
| &nbsp;&nbsp;&nbsp; 2300000 | Maricopa County, AZ, IDA (GreatHearts Academies), Education Revenue Bonds (GreatHearts Arizona Projects) <br> (Series 2017C), (Arizona Public School Credit Enhancement Program GTD), 5.000%, 7/1/2048<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2371670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 665000<br><sup>2</sup> <br>| Maricopa County, AZ, IDA (Paradise Schools), Revenue Refunding Bonds, 5.000%, 7/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 670572 |
| &nbsp;&nbsp;&nbsp; 2500000 | Phoenix, AZ Civic Improvement Corp.—Airport System, Junior Lien Airport Revenue Bonds (Series 2019A), <br> 5.000%, 7/1/2049<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2682026 |
| &nbsp;&nbsp;&nbsp; 3000000 | Phoenix, AZ IDA (GreatHearts Academies), Education Facility Revenue Bonds (Series 2014A), 5.000%, 7/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3051450 |
| &nbsp;&nbsp;&nbsp; 2000000<br><sup>2</sup> <br>| Pima County, AZ Industrial Development Authority (La Posada at Pusch Ridge), Senior Living Revenue Bonds <br> (Series 2022A), 6.875%, 11/15/2052<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2076880 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20183101 |
|  | **California—3.8%** |  |
| &nbsp;&nbsp;&nbsp; 2000000 | California Health Facilities Financing Authority (Providence St. Joseph Health), Revenue Bonds (Series 2014B), <br> 5.000%, 10/1/2044<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250000<br><sup>2</sup> <br>| California Public Finance Authority (Kendal at Sonoma), Enso Village Senior Living Revenue Refunding Bonds <br> (Series 2021A), 5.000%, 11/15/2051<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 220561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250000<br><sup>2</sup> <br>| California Public Finance Authority (Kendal at Sonoma), Enso Village Senior Living Revenue Refunding Bonds <br> (Series 2021A), 5.000%, 11/15/2056<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 216538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000<br><sup>2</sup> <br>| California School Finance Authority (KIPP LA), School Facility Revenue Bonds (Series 2014A), 5.000%, 7/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 509959 |
| &nbsp;&nbsp;&nbsp; 1500000<br><sup>2</sup> <br>| California School Finance Authority (KIPP LA), School Facility Revenue Bonds (Series 2014A), 5.125%, 7/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1515712 |
| &nbsp;&nbsp;&nbsp; 1135000<br><sup>2</sup> <br>| California School Finance Authority (KIPP LA), School Facility Revenue Bonds (Series 2015A), 5.000%, 7/1/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1149645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65000 | California State University (The Trustees of), Systemwide Revenue Bonds (Series 2014A), (United States Treasury PRF <br> 11/1/2024@100), 5.000%, 11/1/2039<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68070 |
| &nbsp;&nbsp;&nbsp; 3550000 | California State University (The Trustees of), Systemwide Revenue Bonds (Series 2015A), 5.000%, 11/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3828976 |
| &nbsp;&nbsp;&nbsp; 2000000 | California State, School Facilities UT GO Bonds, 5.000%, 11/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2036133 |
| &nbsp;&nbsp;&nbsp; 1565000 | California State, Various Purpose UT GO Bonds, 5.000%, 9/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1780426 |
| &nbsp;&nbsp;&nbsp; 1125000<br><sup>2</sup> <br>| California Statewide Communities Development Authority (899 Charleston LLC), Revenue Refunding Bonds (Series 2014A), <br> 5.250%, 11/1/2044<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 968207 |
| &nbsp;&nbsp;&nbsp; 2765000<br><sup>2</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2694043 |
| &nbsp;&nbsp;&nbsp; 2935000 | Chula Vista, CA Municipal Finance Authority, Special Tax Revenue Refunding Bonds (Series 2013), 5.500%, 9/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2990224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | Corona-Norco USD Community Facilities District No. 98-1, CA, 2013 Special Tax Refunding Bonds, (United States Treasury <br> PRF 9/1/2023@100), 5.000%, 9/1/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 507755 |
| &nbsp;&nbsp;&nbsp; 3000000 | Foothill/Eastern Transportation Corridor Agency, CA, Toll Road Refunding Revenue Bonds (Series 2013A), (Original Issue <br> Yield: 6.050%), (United States Treasury PRF 1/15/2024@100), 5.750%, 1/15/2046<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3097151 |
| &nbsp;&nbsp;&nbsp; 2650000 | Golden State Tobacco Securitization Corp., CA, Tobacco Settlement Asset-Backed Bonds (Series 2022), 5.000%, 6/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2816983 |
| &nbsp;&nbsp;&nbsp; 2000000 | Los Angeles, CA Department of Airports (Los Angeles International Airport), Senior Revenue Green Bonds (Series 2022I), <br> 5.000%, 5/15/2048<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2238298 |

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| | | |
|:---|:---|:---|
| **Shares or**<br> **Principal**<br> **Amount**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **California—continued** |  |
| $2055000 | Los Angeles, CA Department of Water & Power (Los Angeles, CA Department of Water & Power (Electric/Power System)), <br> Power System Revenue Bonds (Series 2022C), 5.000%, 7/1/2052<br>| $2297381 |
| &nbsp;&nbsp;&nbsp; 1535000 | M-S-R Energy Authority, CA, Gas Revenue Bonds (Series 2009A), (Original Issue Yield: 6.375%), (Citigroup, Inc. GTD), <br> 6.125%, 11/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1730612 |
| &nbsp;&nbsp;&nbsp; 4670000 | M-S-R Energy Authority, CA, Gas Revenue Bonds (Series 2009C), (Original Issue Yield: 6.700%), (Citigroup, Inc. GTD), <br> 6.500%, 11/1/2039<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5862619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400000 | Riverside County, CA Transportation Commission (RCTC 91 Express Lanes), Toll Revenue Second Lien Refunding Bonds <br> (Series 2021C), 4.000%, 6/1/2047<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 388698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 385000 | Riverside County, CA Transportation Commission (RCTC 91 Express Lanes), Toll Revenue Senior Lien Refunding Bonds <br> (Series 2021B-1), 4.000%, 6/1/2046<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 375934 |
| &nbsp;&nbsp;&nbsp; 3940000 | San Diego County, CA Regional Airport Authority, Subordinate Airport Revenue Bonds (Series 2021A), 4.000%, 7/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3905356 |
| &nbsp;&nbsp;&nbsp; 1990000 | San Diego County, CA Regional Airport Authority, Subordinate Airport Revenue Bonds (Series 2021A), 4.000%, 7/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1955637 |
| &nbsp;&nbsp;&nbsp; 3570000 | San Diego, CA Public Facilities Authority (San Diego, CA Wastewater System), Subordinated Sewer Revenue Bonds <br> (Series 2022A), 5.000%, 5/15/2052<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4014997 |
| &nbsp;&nbsp;&nbsp; 1080000 | San Diego, CA Unified School District, UT GO Dedicated Property Tax Bonds (Series 2002M-2), 4.550%, 7/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1129170 |
| &nbsp;&nbsp;&nbsp; 2420000 | San Francisco, CA Bay Area Rapid Transit District, Sales Tax Revenue Bonds (Series 2022D-1), 5.250%, 8/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2775448 |
| &nbsp;&nbsp;&nbsp; 2440000 | University of California (The Regents of), Limited Project Revenue Bonds (Series 2017M), 5.000%, 5/15/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2683302 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55782206 |
|  | **Colorado—2.8%** |  |
| &nbsp;&nbsp;&nbsp; 1000000 | Arista, CO Metropolitan District, Special Revenue Refunding and Improvement Bonds (Series 2018A), 5.125%, 12/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 948753 |
| &nbsp;&nbsp;&nbsp; 1000000 | Clear Creek Station Metropolitan District No. 2, LT GO Refunding Bonds (Series 2017A), 5.000%, 12/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 949959 |
| &nbsp;&nbsp;&nbsp; 1500000 | Colorado Educational & Cultural Facilities Authority (University Lab School), Charter School Refunding & Improvement <br> Revenue Bonds (Series 2015), 5.000%, 12/15/2035<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1548357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250000 | Colorado Health Facilities Authority (Christian Living Communities), Revenue Refunding Bonds (Series 2016), <br> 5.000%, 1/1/2037<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229278 |
| &nbsp;&nbsp;&nbsp; 1750000 | Colorado Health Facilities Authority (CommonSpirit Health), Revenue Bonds (Series 2019A-1), 4.000%, 8/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1747171 |
| &nbsp;&nbsp;&nbsp; 1200000 | Colorado Health Facilities Authority (CommonSpirit Health), Revenue Bonds (Series 2022), 5.500%, 11/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1301059 |
| &nbsp;&nbsp;&nbsp; 3750000 | Colorado Health Facilities Authority (Sisters of Charity of Leavenworth Health System), Revenue Bonds (Series 2013A), <br> (Original Issue Yield: 5.120%), (United States Treasury PRF 1/1/2024@100), 5.000%, 1/1/2044<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3831946 |
| &nbsp;&nbsp;&nbsp; 5880000 | Colorado High Performance Transportation Enterprise, C-470 Express Lanes Senior Revenue Bonds (Series 2017), <br> 5.000%, 12/31/2051<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5800076 |
| &nbsp;&nbsp;&nbsp; 5170000 | Colorado Springs, CO Utility System, Utilities System Revenue Bonds (Series 2014A-1), 5.000%, 11/15/2044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5336091 |
| &nbsp;&nbsp;&nbsp; 2815000 | Colorado State Health Facilities Authority (Advent Health System/Sunbelt Obligated Group), Hospital Revenue Bonds <br> (Series 2019A), 4.000%, 11/15/2043<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2755091 |
| &nbsp;&nbsp;&nbsp; 2475000 | Denver, CO City & County Department of Aviation (Denver, CO City & County Airport Authority), Airport System Revenue <br> Bonds (Series 2013B), (Original Issue Yield: 5.050%), 5.000%, 11/15/2043<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2503535 |
| &nbsp;&nbsp;&nbsp; 4000000 | Denver, CO City & County Department of Aviation (Denver, CO City & County Airport Authority), Airport System Revenue <br> Bonds (Series 2022C), 5.250%, 11/15/2053<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4494680 |
| &nbsp;&nbsp;&nbsp; 1500000 | Denver, CO City & County Department of Aviation (Denver, CO City & County Airport Authority), Airport System Senior <br> Revenue Bonds (Series 2022B), 5.250%, 11/15/2053<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1685505 |
| &nbsp;&nbsp;&nbsp; 7080000 | Denver, CO City & County, UT GO Bonds (Series 2022A), 5.000%, 8/1/2039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8256581 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41388082 |
|  | **Connecticut—0.7%** |  |
| &nbsp;&nbsp;&nbsp; 3000000 | Connecticut State (Connecticut State Special Transportation Fund), Special Tax Obligation Bonds Transportation <br> Infrastructure Purpose (Series 2018B), 5.000%, 10/1/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3417076 |
| &nbsp;&nbsp;&nbsp; 1500000 | Connecticut State (Connecticut State Special Transportation Fund), Special Tax Obligation Bonds Transportation <br> Infrastructure Purposes (Series 2022A), 5.250%, 7/1/2042<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1729910 |
| &nbsp;&nbsp;&nbsp; 3380000 | Connecticut State, UT GO Bonds (Series 2020A), 4.000%, 1/15/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3477855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 900000 | Connecticut State, UT GO Bonds (Series 2020C), 4.000%, 6/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 946277 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9571118 |
|  | **Delaware—0.1%** |  |
| &nbsp;&nbsp;&nbsp; 2000000 | Delaware Economic Development Authority (ACTS Retirement Life Communities, Inc.), Retirement Communities Revenue <br> Bonds (Series 2018B), 5.000%, 11/15/2048<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1985518 |

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| | | |
|:---|:---|:---|
| **Shares or**<br> **Principal**<br> **Amount**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **District of Columbia—1.4%** |  |
| $1140000 | District of Columbia (District of Columbia International School), Revenue Bonds (Series 2019), 5.000%, 7/1/2054 | $1149324 |
| &nbsp;&nbsp;&nbsp; 1435000 | District of Columbia (Friendship Public Charter School, Inc.), Revenue Bonds (Series 2016A), 5.000%, 6/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1456542 |
| &nbsp;&nbsp;&nbsp; 1000000 | District of Columbia (Ingleside at Rock Creek), Project Revenue Bonds (Series 2017A), (Original Issue Yield: 5.125%), <br> 5.000%, 7/1/2042<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 899942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | District of Columbia (Ingleside at Rock Creek), Project Revenue Bonds (Series 2017A), 5.000%, 7/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 465419 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 525000 | District of Columbia (KIPP DC), Revenue Bonds (Series 2013A), (United States Treasury PRF 7/1/2023@100), <br> 6.000%, 7/1/2048<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 532419 |
| &nbsp;&nbsp;&nbsp; 5375000 | District of Columbia Income Tax Revenue, Income Tax Secured Revenue Bonds (Series 2022A), 5.000%, 7/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6459692 |
| &nbsp;&nbsp;&nbsp; 6090000 | District of Columbia, UT GO Bonds (Series 2019A), 5.000%, 10/15/2044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6701923 |
| &nbsp;&nbsp;&nbsp; 2300000 | District of Columbia, UT GO Bonds (Series 2021D), 4.000%, 2/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2319080 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19984341 |
|  | **Florida—2.9%** |  |
| &nbsp;&nbsp;&nbsp; 3000000 | Brevard County, FL Health Facilities Authority (Health First, Inc.), Hospital Revenue Bonds (Series 2022A), <br> 5.000%, 4/1/2042<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3236676 |
| &nbsp;&nbsp;&nbsp; 4465000 | Broward County, FL (Broward County, FL Convention Center Hotel), First Tier Revenue Bonds (Series 2022), <br> (Broward County, FL GTD), 4.000%, 1/1/2051<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4462399 |
| &nbsp;&nbsp;&nbsp; 5000000 | Broward County, FL (Broward County, FL Tourist Development Tax Special Revenue), Convention Center Expansion Project <br> Revenue Bonds (Series 2021), 4.000%, 9/1/2047<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4857654 |
| &nbsp;&nbsp;&nbsp; 2010000 | Central Florida Expressway Authority, Senior Lien Revenue Refunding Bonds (Series 2016B), 4.000%, 7/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2019360 |
| &nbsp;&nbsp;&nbsp; 4300000<br><sup>2,3,4</sup> <br>| Collier County, FL IDA (Arlington of Naples), Continuing Care Community Revenue Bonds (Series 2013A), (Original Issue <br> Yield: 8.250%), 8.125%, 5/15/2044<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2494000 |
| &nbsp;&nbsp;&nbsp; 2125000 | Hillsborough County, FL Aviation Authority (Tampa International Airport), Revenue Bonds (Series 2018F), <br> 5.000%, 10/1/2048<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2270720 |
| &nbsp;&nbsp;&nbsp; 1055000 | Lee County, FL IDA (Cypress Cove at Healthpark), Healthcare Facilities Revenue Bonds (Series 2022A), 5.250%, 10/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 947207 |
| &nbsp;&nbsp;&nbsp; 1400000 | Miami-Dade County, FL (Miami-Dade County, FL Seaport Department), Seaport Revenue Bonds (Series 2013A), <br> (United States Treasury PRF 10/1/2023@100), 5.750%, 10/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1431015 |
| &nbsp;&nbsp;&nbsp; 1600000 | Miami-Dade County, FL (Miami-Dade County, FL Seaport Department), Seaport Revenue Bonds (Series 2013A), <br> (United States Treasury PRF 10/1/2023@100), 5.750%, 10/1/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1635445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 620000 | Miami-Dade County, FL Aviation, Aviation Revenue Refunding Bonds (Series 2020A), 4.000%, 10/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 618558 |
| &nbsp;&nbsp;&nbsp; 5000000 | Miami-Dade County, FL School District, UT GO School Bonds (Series 2022A), (Build America Mutual Assurance INS), <br> 5.000%, 3/15/2038<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5768201 |
| &nbsp;&nbsp;&nbsp; 4000000 | Miami-Dade County, FL Water & Sewer, Water & Sewer System Revenue Refunding Bonds (Series 2021), <br> 4.000%, 10/1/2051<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3879801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 750000 | St. Johns County, FL IDA (Vicar's Landing), Senior Living Revenue Bonds (Series 2021A), 4.000%, 12/15/2046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 573463 |
| &nbsp;&nbsp;&nbsp; 7535000 | Tampa, FL (Tampa, FL Water and Wastewater Systems), Water and Wastewater Revenue Bonds (Series 2022A), <br> 5.000%, 10/1/2047<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8589946 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42784445 |
|  | **Georgia—2.5%** |  |
| &nbsp;&nbsp;&nbsp; 4000000 | Atlanta, GA (Atlanta, GA Department of Aviation), General Revenue Bonds (Series 2022A), 5.000%, 7/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4441662 |
| &nbsp;&nbsp;&nbsp; 6000000 | Atlanta, GA Water & Wastewater, Revenue Refunding Bonds (Series 2015), 5.000%, 11/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6241785 |
| &nbsp;&nbsp;&nbsp; 2500000 | Atlanta, GA Water & Wastewater, Revenue Refunding Bonds (Series 2018C), 5.000%, 11/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2802335 |
| &nbsp;&nbsp;&nbsp; 3000000 | Atlanta, GA, UT GO Public Improvement Bonds (Series 2022A-1), 5.000%, 12/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3494415 |
| &nbsp;&nbsp;&nbsp; 2500000 | 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2495051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 665000 | Geo. L. Smith II Georgia World Congress Center Authority, Convention Center Hotel First Tier Revenue Bonds <br> (Series 2021A), 4.000%, 1/1/2054<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 555452 |
| &nbsp;&nbsp;&nbsp; 4135000 | Georgia Ports Authority, Revenue Bonds (Series 2022), 4.000%, 7/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4091682 |
| &nbsp;&nbsp;&nbsp; 1000000 | Georgia Ports Authority, Revenue Bonds (Series 2022), 5.250%, 7/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1140916 |
| &nbsp;&nbsp;&nbsp; 4000000 | Georgia State, UT GO Bonds (Series 2022A), 4.000%, 7/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4174100 |
| &nbsp;&nbsp;&nbsp; 3940000 | Municipal Electric Authority of Georgia, Plant Vogtle Units 3&4 Project J Revenue Refunding Bonds (Series 2015A), <br> 5.000%, 7/1/2060<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3977315 |
| &nbsp;&nbsp;&nbsp; 2500000 | Municipal Electric Authority of Georgia, Plant Vogtle Units 3&4 Project P Revenue Refunding Bonds (Series 2023A), <br> 5.500%, 7/1/2064<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2622710 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36037423 |

---

**3**

------

---

| | | |
|:---|:---|:---|
| **Shares or**<br> **Principal**<br> **Amount**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **Idaho—0.2%** |  |
| $2000000 | Idaho Health Facilities Authority (Terraces of Boise), Exchange Revenue Refunding Bonds (Series 2021A), <br> 4.250%, 10/1/2039<br>| $1572019 |
| &nbsp;&nbsp;&nbsp; 2020000 | Idaho Health Facilities Authority (Terraces of Boise), Exchange Revenue Refunding Bonds (Series 2021A), <br> 4.550%, 10/1/2056<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1452707 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3024726 |
|  | **Illinois—5.5%** |  |
| &nbsp;&nbsp;&nbsp; 1000000 | Chicago, IL Board of Education, UT GO Bonds (Series 2021A), 5.000%, 12/1/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1027178 |
| &nbsp;&nbsp;&nbsp; 1000000 | Chicago, IL Board of Education, UT GO Bonds (Series 2021A), 5.000%, 12/1/2039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1023075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 625000 | Chicago, IL Board of Education, UT GO Dedicated Refunding Bonds (Series 2018D), (Original Issue Yield: 5.210%), <br> 5.000%, 12/1/2046<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 622576 |
| &nbsp;&nbsp;&nbsp; 2000000 | Chicago, IL Board of Education, UT GO Dedicated Revenue Bonds (Series 2017H), 5.000%, 12/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2005817 |
| &nbsp;&nbsp;&nbsp; 2500000 | Chicago, IL Metropolitan Water Reclamation District, LT GO Capital Improvement Bonds (Series 2021A) Green Bonds, <br> 4.000%, 12/1/2046<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2429593 |
| &nbsp;&nbsp;&nbsp; 2000000 | Chicago, IL Midway Airport, Second Lien Revenue & Refunding Bonds (Series 2014B), 5.000%, 1/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2027065 |
| &nbsp;&nbsp;&nbsp; 2000000 | Chicago, IL Midway Airport, Second Lien Revenue Refunding Bonds (Series 2014B), 5.000%, 1/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2030150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 305000 | Chicago, IL O'Hare International Airport, General Airport Senior Lien Revenue Refunding Bonds (Series 2016B), <br> 5.000%, 1/1/2041<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 317153 |
| &nbsp;&nbsp;&nbsp; 2000000 | Chicago, IL O'Hare International Airport, General Airport Senior Lien Revenue Refunding Bonds (Series 2018B), <br> 5.000%, 1/1/2048<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2109946 |
| &nbsp;&nbsp;&nbsp; 1335000 | Chicago, IL Transit Authority, Second Lien Sales Tax Receipts Revenue Bonds (Series 2020A), 5.000%, 12/1/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1407603 |
| &nbsp;&nbsp;&nbsp; 1000000 | Chicago, IL, UT GO Bonds (Series 2023A), 4.000%, 1/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 972229 |
| &nbsp;&nbsp;&nbsp; 3250000 | Chicago, IL, UT GO Bonds (Series 2023A), 5.250%, 1/1/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3493930 |
| &nbsp;&nbsp;&nbsp; 5000000 | Cook County, IL Sales Tax, Revenue Refunding Bonds (Series 2017), 5.000%, 11/15/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5320054 |
| &nbsp;&nbsp;&nbsp; 1000000 | Cook County, IL, UT GO Refunding Bonds (Series 2022A), 5.000%, 11/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1140019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 750000 | Cook County, IL, UT GO Refunding Bonds (Series 2022A), 5.000%, 11/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 877592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 414000 | DuPage County, IL (Naperville Campus LLC), Special Tax Bonds (Series 2006), 5.625%, 3/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 412063 |
| &nbsp;&nbsp;&nbsp; 2855000 | Illinois Finance Authority (Admiral at the Lake), Revenue Refunding Bonds (Series 2017), (Original Issue Yield: 5.500%), <br> 5.250%, 5/15/2054<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1854600 |
| &nbsp;&nbsp;&nbsp; 1500000 | Illinois Finance Authority (DePaul University), Revenue Bonds (Series 2016), 5.000%, 10/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1560558 |
| &nbsp;&nbsp;&nbsp; 5000000 | Illinois Finance Authority (UChicago Medicine), Revenue Bonds (Series 2022A), 5.000%, 8/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5351671 |
| &nbsp;&nbsp;&nbsp; 2000000 | Illinois State Toll Highway Authority, Toll Highway Senior Revenue Bonds (Series 2014B), 5.000%, 1/1/2039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2030880 |
| &nbsp;&nbsp;&nbsp; 2335000 | Illinois State Toll Highway Authority, Toll Highway Senior Revenue Bonds (Series 2021A), 4.000%, 1/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2303694 |
| &nbsp;&nbsp;&nbsp; 4320000 | Illinois State, GO Bonds (Series 2017D), 5.000%, 11/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4633558 |
| &nbsp;&nbsp;&nbsp; 1500000 | Illinois State, UT GO Bonds (Series 2013A), 5.000%, 4/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1502615 |
| &nbsp;&nbsp;&nbsp; 2880000 | Illinois State, UT GO Bonds (Series 2017D), 5.000%, 11/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3071126 |
| &nbsp;&nbsp;&nbsp; 3500000 | Illinois State, UT GO Bonds (Series 2018A), 5.000%, 5/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3590612 |
| &nbsp;&nbsp;&nbsp; 1500000 | Illinois State, UT GO Bonds (Series 2020C), (Original Issue Yield: 4.340%), 4.000%, 10/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1408697 |
| &nbsp;&nbsp;&nbsp; 4000000 | Illinois State, UT GO Bonds (Series 2021B), 4.000%, 12/1/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3878520 |
| &nbsp;&nbsp;&nbsp; 6920000 | Illinois State, UT GO Bonds (Series June 2013), (Original Issue Yield: 5.650%), 5.500%, 7/1/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6962973 |
| &nbsp;&nbsp;&nbsp; 4000000 | Illinois State, UT GO Refunding Bonds (Series 2018A), 5.000%, 10/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4261199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 540000 | Illinois State, UT GO Refunding Bonds (Series 2021A), 4.000%, 3/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 510001 |
| &nbsp;&nbsp;&nbsp; 4400000 | Metropolitan Pier & Exposition Authority, IL, McCormick Place Expansion Project Bonds (Series 2015A), (Original Issue <br> Yield: 5.060%), 5.000%, 6/15/2053<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4419323 |
| &nbsp;&nbsp;&nbsp; 2000000 | Metropolitan Pier & Exposition Authority, IL, McCormick Place Expansion Project Refunding Bonds (Series 2022A), <br> 4.000%, 12/15/2047<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1807543 |
| &nbsp;&nbsp;&nbsp; 3750000 | Sales Tax Securitization Corp., IL, Sales Tax Securitization Bonds (Series 2018A), 5.000%, 1/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3910915 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80274528 |
|  | **Indiana—1.3%** |  |
| &nbsp;&nbsp;&nbsp; 3735000 | Indiana Municipal Power Agency, Power Supply System Refunding Revenue Bonds (Series 2022A), 5.500%, 1/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4244646 |
| &nbsp;&nbsp;&nbsp; 2750000 | Indiana Municipal Power Agency, Power Supply System Revenue Bonds (Series 2013A), (United States Treasury PRF <br> 7/1/2023@100), 5.250%, 1/1/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2781803 |
| &nbsp;&nbsp;&nbsp; 1250000 | Indiana Municipal Power Agency, Revenue Refunding Bonds (Series 2017A), 5.000%, 1/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1347152 |

---

**4**

------

---

| | | |
|:---|:---|:---|
| **Shares or**<br> **Principal**<br> **Amount**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **Indiana—continued** |  |
| $4000000 | Indiana State Finance Authority (CWA Authority), First Lien Wastewater Utility Revenue Bonds (Series 2014A), <br> 5.000%, 10/1/2039<br>| $4133743 |
| &nbsp;&nbsp;&nbsp; 5000000 | Indiana State Finance Authority (CWA Authority), First Lien Wastewater Utility Revenue Bonds (Series 2022B), <br> 5.250%, 10/1/2047<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5556527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 765000 | Indiana State Finance Authority Hospital Revenue (Indiana University Health Obligated Group), Hospital Revenue <br> Refunding Bonds (Series 2014A), 5.000%, 12/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 799881 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18863752 |
|  | **Iowa—0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 542361 | Iowa Finance Authority (Deerfield Retirement Community, Inc.), Lifespace GTD Senior Living Facility Revenue Refunding <br> Bonds (Series 2014A), (United States Treasury PRF 11/15/2024@100), 5.400%, 11/15/2046<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 566005 |
| &nbsp;&nbsp;&nbsp; 3570000 | Iowa Finance Authority (Iowa Fertilizer Co. LLC), Midwestern Disaster Area Revenue Refunding Bonds (Series 2022), <br> 5.000%, 12/1/2050<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3586279 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4152284 |
|  | **Kansas—0.3%** |  |
| &nbsp;&nbsp;&nbsp; 5000000 | Wyandotte County, KS Unified Government Utility System, Improvement & Refunding Revenue Bonds (Series 2014-A), <br> 5.000%, 9/1/2044<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5127315 |
|  | **Kentucky—0.6%** |  |
| &nbsp;&nbsp;&nbsp; 2000000 | Kentucky Economic Development Finance Authority (Miralea), Revenue Bonds (Series 2016A), 5.000%, 5/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1545153 |
| &nbsp;&nbsp;&nbsp; 1925000 | Kentucky Public Transportation Infrastructure Authority, First Tier Toll Revenue Refunding Bonds (Series 2021B), (Assured <br> Guaranty Municipal Corp. INS), 4.000%, 7/1/2053<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1809798 |
| &nbsp;&nbsp;&nbsp; 5565000<br><sup>1</sup> <br>| Public Energy Authority of Kentucky, Gas Supply Revenue Bonds (Series 2022A-2) FRNs, (Morgan Stanley GTD), 4.081% <br> (SOFR x 0.67 +1.200%), Mandatory Tender 8/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5309713 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8664664 |
|  | **Louisiana—0.1%** |  |
| &nbsp;&nbsp;&nbsp; 1450000 | St. James Parish, LA (NuStar Logistics LP), Revenue Bonds (Series 2011) TOBs, 5.850%, Mandatory Tender 6/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1494367 |
|  | **Maryland—1.0%** |  |
| &nbsp;&nbsp;&nbsp; 6000000 | Anne Arundel County, MD, LT GO Bonds (Series 2018), 5.000%, 10/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6751276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 270000 | Maryland State Economic Development Corp. (Ports America Chesapeake, Inc.), Transportation Facilities Revenue <br> Refunding Bonds (Series 2017A), 5.000%, 6/1/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 291693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 550000 | Maryland State Economic Development Corp. (Ports America Chesapeake, Inc.), Transportation Facilities Revenue <br> Refunding Bonds (Series 2017A), 5.000%, 6/1/2035<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 584882 |
| &nbsp;&nbsp;&nbsp; 5000000 | Maryland State, UT GO State and Local Facilities Loan (First Series 2022A), 5.000%, 6/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6184909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 600000 | Westminster, MD (Lutheran Village at Miller's Grant, Inc.), Revenue Bonds (Series 2014A), 6.000%, 7/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 607816 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14420576 |
|  | **Massachusetts—1.7%** |  |
| &nbsp;&nbsp;&nbsp; 5000000 | Commonwealth of Massachusetts, UT GO Consolidated Loan Bonds (Series 2022C), 5.250%, 10/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5698237 |
| &nbsp;&nbsp;&nbsp; 5000000 | Massachusetts Development Finance Agency (Mass General Brigham), Revenue Bonds (Series 2016Q), 5.000%, 7/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5198778 |
| &nbsp;&nbsp;&nbsp; 2500000 | Massachusetts Development Finance Agency (Northeastern University), Revenue Bonds (Series 2022), 5.000%, 10/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2846840 |
| &nbsp;&nbsp;&nbsp; 5000000 | Massachusetts School Building Authority, Senior Dedicated Sales Tax Revenue Refunding Bonds (Series 2015C), <br> 5.000%, 8/15/2037<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5271536 |
| &nbsp;&nbsp;&nbsp; 5000000 | Massachusetts State Transportation Fund Revenue, Rail Enhancement Program (Series 2022B), 5.000%, 6/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5575038 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24590429 |
|  | **Michigan—1.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 970000 | Detroit, MI, UT GO Bonds (Series 2020), 5.500%, 4/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 998352 |
| &nbsp;&nbsp;&nbsp; 2980000 | Great Lakes, MI Water Authority (Great Lakes, MI Water Authority Water Supply System), Water Supply System Revenue <br> Senior Lien Bonds (Series 2022A), 5.250%, 7/1/2052<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3269428 |
| &nbsp;&nbsp;&nbsp; 1250000 | Michigan State Finance Authority (Beaumont Health Spectrum Health System), Hospital Revenue Refunding Bonds <br> (Series 2022A), 5.000%, 4/15/2038<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1426325 |
| &nbsp;&nbsp;&nbsp; 1875000<br><sup>1</sup> <br>| Michigan State Finance Authority (Beaumont Health Spectrum Health System), Hospital Revenue Refunding Bonds <br> (Series 2022C) FRNs, 2.410% (SIFMA 7-day +0.750%), Mandatory Tender 4/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1843793 |
| &nbsp;&nbsp;&nbsp; 4000000 | Michigan State Finance Authority (Detroit, MI Public Lighting Authority), Local Government Loan Program Revenue Bonds <br> (Series 2014B), 5.000%, 7/1/2039<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4027045 |
| &nbsp;&nbsp;&nbsp; 2500000 | Michigan State Finance Authority (Great Lakes, MI Water Authority Sewage Disposal System), Local Government Loan <br> Program Revenue Bonds (Series 2015C-1), 5.000%, 7/1/2035<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2603995 |

---

**5**

------

---

| | | |
|:---|:---|:---|
| **Shares or**<br> **Principal**<br> **Amount**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **Michigan—continued** |  |
| $1150000 | Michigan State Finance Authority (Great Lakes, MI Water Authority Water Supply System), Senior Lien Revenue Bonds <br> (Series 2014 D-1), (Assured Guaranty Municipal Corp. INS), 5.000%, 7/1/2037<br>| $1178926 |
| &nbsp;&nbsp;&nbsp; 2700000 | Wayne County, MI Airport Authority, Revenue Bonds (Series 2012A), 5.000%, 12/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2704172 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18052036 |
|  | **Minnesota—0.5%** |  |
| &nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 997860 |
| &nbsp;&nbsp;&nbsp; 1540000 | Minneapolis-St. Paul, MN Metropolitan Airports Commission (Minneapolis-St. Paul International Airport), Subordinate <br> Airport Revenue Bonds (Series 2022A), 5.000%, 1/1/2052<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1665120 |
| &nbsp;&nbsp;&nbsp; 5000000<br><sup>1</sup> <br>| Minnesota Municipal Gas Agency, Commodity Supply Revenue Bonds (Series 2022B) FRNs, (Royal Bank of Canada GTD), <br> 3.881% (SOFR x 0.67 +1.000%), Mandatory Tender 12/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4892756 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7555736 |
|  | **Missouri—0.5%** |  |
| &nbsp;&nbsp;&nbsp; 4000000<br><sup>2</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2962584 |
| &nbsp;&nbsp;&nbsp; 2500000 | Missouri State HEFA (BJC Health System, MO), Health Facilities Revenue Bonds, 5.000%, 1/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2523468 |
| &nbsp;&nbsp;&nbsp; 1250000 | St. Louis, MO Airport Revenue (St. Louis Lambert International Airport), Airport Revenue Refunding and Airport Revenue <br> Bonds (Series 2017C), (Assured Guaranty Municipal Corp. INS), 5.000%, 7/1/2042<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1320053 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6806105 |
|  | **New Hampshire—0.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 834787<br><sup>2,3,4</sup> <br>| New Hampshire Health and Education Facilities Authority (Hillside Village), Revenue Bonds (Series 2017A), <br> 6.125%, 7/1/2037<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 183653 |
|  | **New Jersey—3.4%** |  |
| &nbsp;&nbsp;&nbsp; 1800000 | New Jersey EDA (New Jersey State), North Portal Bridge Project (Series 2022), 5.250%, 11/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1975836 |
| &nbsp;&nbsp;&nbsp; 4000000 | New Jersey EDA (New Jersey State), North Portal Bridge Project (Series 2022), 5.250%, 11/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4337532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70000 | 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 74910 |
| &nbsp;&nbsp;&nbsp; 1245000 | New Jersey EDA (New Jersey State), School Facilities Construction Bonds (Series 2015 WW), 5.250%, 6/15/2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1274782 |
| &nbsp;&nbsp;&nbsp; 1000000 | New Jersey EDA (New Jersey State), School Facilities Construction Refunding Bonds (Series 2017 DDD), <br> 5.000%, 6/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1080113 |
| &nbsp;&nbsp;&nbsp; 2500000 | New Jersey EDA (New Jersey State), School Facilities Construction Refunding Bonds (Series 2018EEE), 5.000%, 6/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2610433 |
| &nbsp;&nbsp;&nbsp; 1000000 | New Jersey State Transportation Trust Fund Authority (New Jersey State), Federal Highway Reimbursement Revenue <br> Refunding Notes (Series 2018A), 5.000%, 6/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1070170 |
| &nbsp;&nbsp;&nbsp; 5000000 | New Jersey State Transportation Trust Fund Authority (New Jersey State), Transportation Program Bonds (Series 2022AA), <br> 5.000%, 6/15/2035<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5669253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 750000 | New Jersey State Transportation Trust Fund Authority (New Jersey State), Transportation Program Bonds (Series 2022BB), <br> 4.000%, 6/15/2046<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 720391 |
| &nbsp;&nbsp;&nbsp; 2000000 | New Jersey State Transportation Trust Fund Authority (New Jersey State), Transportation System Bonds (Series 2018A), <br> 5.000%, 12/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2186397 |
| &nbsp;&nbsp;&nbsp; 2000000 | New Jersey State Transportation Trust Fund Authority (New Jersey State), Transportation System Bonds (Series 2022CC), <br> 5.000%, 6/15/2048<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2128433 |
| &nbsp;&nbsp;&nbsp; 4000000 | New Jersey Turnpike Authority, Turnpike Revenue Bonds (Series 2015E), 5.000%, 1/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4183402 |
| &nbsp;&nbsp;&nbsp; 4000000 | New Jersey Turnpike Authority, Turnpike Revenue Bonds (Series 2019A), 5.000%, 1/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4254596 |
| &nbsp;&nbsp;&nbsp; 3500000 | New Jersey Turnpike Authority, Turnpike Revenue Bonds (Series 2022B), 5.250%, 1/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3918559 |
| &nbsp;&nbsp;&nbsp; 1500000 | South Jersey Transportation Authority, Transportation System Revenue Bonds (Series 2020A), 4.000%, 11/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1375468 |
| &nbsp;&nbsp;&nbsp; 4745000 | Tobacco Settlement Financing Corp., NJ, 5.000%, 6/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5044701 |
| &nbsp;&nbsp;&nbsp; 1500000 | Tobacco Settlement Financing Corp., NJ, Tobacco Settlement Asset-Backed Refunding Bonds (Series 2018A), <br> 5.250%, 6/1/2046<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1567149 |
| &nbsp;&nbsp;&nbsp; 5485000 | Tobacco Settlement Financing Corp., NJ, Tobacco Settlement Asset-Backed Subordinate Refunding Bonds (Series 2018B), <br> 5.000%, 6/1/2046<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5538186 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49010311 |
|  | **New Mexico—0.2%** |  |
| &nbsp;&nbsp;&nbsp; 2175000 | New Mexico State Hospital Equipment Loan Council (Presbyterian Healthcare Services), Hospital System Revenue Bonds <br> (Series 2017A), 5.000%, 8/1/2046<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2291295 |

---

**6**

------

---

| | | |
|:---|:---|:---|
| **Shares or**<br> **Principal**<br> **Amount**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **New York—5.9%** |  |
| $1000000 | Build NYC Resource Corporation (KIPP NYC Canal West), Revenue Bonds (Series 2022), 5.250%, 7/1/2052 | $1052984 |
| &nbsp;&nbsp;&nbsp; 2860000 | Build NYC Resource Corporation (KIPP NYC Canal West), Revenue Bonds (Series 2022), 5.250%, 7/1/2057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2989656 |
| &nbsp;&nbsp;&nbsp; 1605000 | Metropolitan Transportation Authority, NY (MTA Transportation Revenue), Revenue Bonds (Series 20114B), <br> 5.250%, 11/15/2044<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1611791 |
| &nbsp;&nbsp;&nbsp; 3305000 | Metropolitan Transportation Authority, NY (MTA Transportation Revenue), Revenue Bonds (Series 2013C), <br> 5.000%, 11/15/2042<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3305821 |
| &nbsp;&nbsp;&nbsp; 1000000 | Metropolitan Transportation Authority, NY (MTA Transportation Revenue), Transportation Revenue Bonds (Series 2014B), <br> 5.250%, 11/15/2039<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1010444 |
| &nbsp;&nbsp;&nbsp; 1500000 | Metropolitan Transportation Authority, NY (MTA Transportation Revenue), Transportation Revenue Green Bonds <br> (Series 2020C-1), 5.000%, 11/15/2050<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1536686 |
| &nbsp;&nbsp;&nbsp; 1400000 | Metropolitan Transportation Authority, NY (MTA Transportation Revenue), Transportation Revenue Refunding Bonds <br> (Series 2017B), 5.000%, 11/15/2024<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1446894 |
| &nbsp;&nbsp;&nbsp; 2375000 | New York City, NY Educational Construction Fund, Revenue Bonds (Series 2021B), 5.000%, 4/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2664737 |
| &nbsp;&nbsp;&nbsp; 2500000 | New York City, NY Municipal Water Finance Authority, Water and Sewer System Second General Resolution Revenue <br> Bonds (Series 2022AA-3), 5.000%, 6/15/2047<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2793766 |
| &nbsp;&nbsp;&nbsp; 1600000 | New York City, NY Transitional Finance Authority, Future Tax Secured Subordinate Bonds (Series 2021B-1), <br> 4.000%, 8/1/2048<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1562967 |
| &nbsp;&nbsp;&nbsp; 2100000 | New York City, NY Transitional Finance Authority, Future Tax Secured Subordinate Revenue Bonds (Series 2014A-1), <br> 5.000%, 8/1/2036<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2172352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300000 | New York City, NY, GO Bonds (Series 2021 F-1), 4.000%, 3/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 294775 |
| &nbsp;&nbsp;&nbsp; 8000000 | New York City, NY, UT GO Bonds (Series 2018B-1), 5.000%, 10/1/2039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8702794 |
| &nbsp;&nbsp;&nbsp; 1500000 | New York City, NY, UT GO Bonds (Series 2023B-B1), 5.250%, 10/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1697033 |
| &nbsp;&nbsp;&nbsp; 2500000<br><sup>2</sup> <br>| New York Liberty Development Corporation (3 World Trade Center), Revenue Bonds (Series 2014 Class 1), <br> 5.000%, 11/15/2044<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2486677 |
| &nbsp;&nbsp;&nbsp; 2260000 | New York State Dormitory Authority (Fordham University), Revenue Bonds (Series 2020), 4.000%, 7/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2230031 |
| &nbsp;&nbsp;&nbsp; 7280000 | New York State Dormitory Authority (New York State Personal Income Tax Revenue Bond Fund), General Purpose Revenue <br> Bonds (Series 2021E), 4.000%, 3/15/2039<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7397742 |
| &nbsp;&nbsp;&nbsp; 4500000 | New York State Dormitory Authority (New York State Section 99-b Intercept Program), School Districts Revenue Bond <br> Financing Program (Series 2022B), (Build America Mutual Assurance INS), 5.000%, 10/1/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5292153 |
| &nbsp;&nbsp;&nbsp; 1500000 | New York State Power Authority (New York State Power Authority Transmission Project), Green Transmission Project <br> Revenue Bonds (Series 2022A), (Assured Guaranty Municipal Corp. INS), 4.000%, 11/15/2052<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1478647 |
| &nbsp;&nbsp;&nbsp; 1010000 | New York State Thruway Authority (New York State Thruway Authority—General Revenue), General Revenue Bonds <br> (Series 2020N), 5.000%, 1/1/2040<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1107697 |
| &nbsp;&nbsp;&nbsp; 5000000 | New York State Thruway Authority (New York State Thruway Authority—General Revenue), General Revenue Junior <br> Indebtedness Obligations (Series 2019B), 4.000%, 1/1/2045<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4888553 |
| &nbsp;&nbsp;&nbsp; 5000000 | New York State Urban Development Corp. (New York State Personal Income Tax Revenue Bond Fund), State Personal <br> Income Tax Revenue Bonds (Series 2017A), 5.000%, 3/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5553885 |
| &nbsp;&nbsp;&nbsp; 4475000 | 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4332203 |
| &nbsp;&nbsp;&nbsp; 5335000 | Port Authority of New York and New Jersey, Revenue Bonds (194th Series), 5.000%, 10/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5597270 |
| &nbsp;&nbsp;&nbsp; 3000000 | TFA State/School Building Aid (New York City, NY Transitional Finance Authority), Building Aid Revenue Bonds <br> (Series 2019S-3A), 5.000%, 7/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3412174 |
| &nbsp;&nbsp;&nbsp; 1730000 | Triborough Bridge & Tunnel Authority, NY (MTA Payroll Mobility Tax), MTA Bridges and Tunnels Payroll Mobility Tax Senior <br> Lien Bonds (Series 2021C-3), 4.000%, 5/15/2051<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1688832 |
| &nbsp;&nbsp;&nbsp; 2000000 | Triborough Bridge & Tunnel Authority, NY (MTA Payroll Mobility Tax), MTA Bridges and Tunnels Payroll Mobility Tax Senior <br> Lien Refunding Bonds (Series 2023A), 5.000%, 11/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2364250 |
| &nbsp;&nbsp;&nbsp; 5000000 | Triborough Bridge & Tunnel Authority, NY, MTA Bridges and Tunnels General Revenue Bonds (Series 2022A), <br> 4.000%, 11/15/2052<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4896350 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 85569164 |
|  | **North Carolina—1.1%** |  |
| &nbsp;&nbsp;&nbsp; 1250000 | Charlotte, NC (Charlotte, NC Douglas International Airport), Airport Revenue Bonds (Series 2017A), 5.000%, 7/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1322668 |
| &nbsp;&nbsp;&nbsp; 5000000 | Charlotte, NC Airport (Charlotte, NC Douglas International Airport), Airport Revenue Bonds (Series 2022A), <br> 5.000%, 7/1/2052<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4930707 |
| &nbsp;&nbsp;&nbsp; 1500000 | North Carolina Municipal Power Agency No. 1, Refunding Revenue Bonds (Series 2015A), 5.000%, 1/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1603264 |
| &nbsp;&nbsp;&nbsp; 4000000 | North Carolina State Turnpike Authority, Triangle Expressway System Appropriation Revenue Refunding Bonds <br> (Series 2018A), 4.000%, 1/1/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4251075 |

---

**7**

------

---

| | | |
|:---|:---|:---|
| **Shares or**<br> **Principal**<br> **Amount**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **North Carolina—continued** |  |
| $4545000<br><sup>1</sup> <br>| University of North Carolina at Chapel Hill, General Revenue Refunding Bonds (Series 2019B) FRNs, 3.531% (SOFR x 0.67 <br> +0.650%), Mandatory Tender 6/1/2025<br>| $4557665 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16665379 |
|  | **Ohio—2.1%** |  |
| &nbsp;&nbsp;&nbsp; 2000000 | Allen County, OH (Bon Secours Mercy Health), Hospital Facilities Revenue Bonds (Series 2020A), 4.000%, 12/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1983078 |
| &nbsp;&nbsp;&nbsp; 4000000 | Allen County, OH (Bon Secours Mercy Health), Hospital Facilities Revenue Refunding Bonds, 4.000%, 8/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3856990 |
| &nbsp;&nbsp;&nbsp; 2320000 | American Municipal Power-Ohio, Inc. (American Municipal Power, Prairie State Energy Campus Project), Refunding <br> Revenue Bonds (Series 2015A), 5.000%, 2/15/2042<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2349030 |
| &nbsp;&nbsp;&nbsp; 6630000 | 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6321820 |
| &nbsp;&nbsp;&nbsp; 3000000 | Cuyahoga County, OH Hospital Authority (MetroHealth System), Hospital Revenue Bonds (Series 2017), (Original Issue <br> Yield: 5.030%), 5.000%, 2/15/2057<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2914290 |
| &nbsp;&nbsp;&nbsp; 3900000 | Franklin County, OH (Trinity Healthcare Credit Group), Revenue Bonds (Series 2017), 4.000%, 12/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3824365 |
| &nbsp;&nbsp;&nbsp; 1000000 | Hamilton County, OH (Life Enriching Communities), Healthcare Improvement and Refunding Revenue Bonds (Series 2016), <br> 5.000%, 1/1/2051<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 917056 |
| &nbsp;&nbsp;&nbsp; 2060000 | Muskingum County, OH (Genesis Healthcare Corp.), Hospital Facilities Revenue Bonds (Series 2013), 5.000%, 2/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2061344 |
| &nbsp;&nbsp;&nbsp; 1430000 | Ohio State Higher Educational Facility Commission (Cleveland Clinic), Hospital Revenue Refunding Bonds (Series 2017A), <br> 5.000%, 1/1/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1599052 |
| &nbsp;&nbsp;&nbsp; 1125000 | Ohio State Hospital Revenue (University Hospitals Health System, Inc.), Hospital Revenue Bonds (Series 2016A), <br> 5.000%, 1/15/2041<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1153574 |
| &nbsp;&nbsp;&nbsp; 1200000 | Ohio State Turnpike & Infrastructure Commission, Turnpike Junior Lien Revenue Bonds (Series 2013A-1), <br> 5.250%, 2/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1201175 |
| &nbsp;&nbsp;&nbsp; 1500000 | University of Cincinnati, OH, General Receipts Bonds (Series 2013C), (United States Treasury PRF 12/1/2023@100), <br> 5.000%, 6/1/2039<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1532386 |
| &nbsp;&nbsp;&nbsp; 1000000 | University of Cincinnati, OH, General Receipts Bonds (Series 2019A), 4.000%, 6/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1048472 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30762632 |
|  | **Oklahoma—0.1%** |  |
| &nbsp;&nbsp;&nbsp; 1250000 | Tulsa County, OK Industrial Authority (Montereau, Inc.), Senior Living Community Revenue Refunding Bonds (Series 2017), <br> 5.250%, 11/15/2037<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1276384 |
|  | **Oregon—0.4%** |  |
| &nbsp;&nbsp;&nbsp; 5000000 | Oregon State, UT GO State Project Bonds (Series 2017C), 5.000%, 6/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5527076 |
|  | **Pennsylvania—3.2%** |  |
| &nbsp;&nbsp;&nbsp; 2870000<br><sup>1</sup> <br>| Allegheny County, PA Hospital Development Authority (UPMC Health System), Revenue Bonds (Series 2017D-2) FRNs, <br> 2.360% (SIFMA 7-day +0.700%), Mandatory Tender 5/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2789910 |
| &nbsp;&nbsp;&nbsp; 4000000 | Allegheny County, PA Sanitation Authority, Sewer Revenue Bonds (Series 2022), 5.750%, 6/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4705390 |
| &nbsp;&nbsp;&nbsp; 1000000 | Commonwealth Financing Authority of PA (Commonwealth of Pennsylvania), Tobacco Master Settlement Payment Revenue <br> Bonds (Series 2018), 5.000%, 6/1/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1106352 |
| &nbsp;&nbsp;&nbsp; 5000000 | Commonwealth of Pennsylvania, UT GO Bonds (First Series 2022), 5.000%, 10/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5669817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 550000 | Cumberland County, PA Municipal Authority (Diakon Lutheran Social Ministries), Revenue Bonds (Series 2015), <br> (United States Treasury PRF 1/1/2025@100), 5.000%, 1/1/2038<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 576758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130000 | Cumberland County, PA Municipal Authority (Diakon Lutheran Social Ministries), Revenue Bonds (Series 2015), <br> (United States Treasury PRF 1/1/2025@100), 5.000%, 1/1/2038<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 136325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 675000 | Cumberland County, PA Municipal Authority (Diakon Lutheran Social Ministries), Revenue Bonds (Series 2015), <br> 5.000%, 1/1/2038<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 681837 |
| &nbsp;&nbsp;&nbsp; 5000000 | Delaware River Joint Toll Bridge Commission, Revenue Bonds (Series 2017), 5.000%, 7/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5238245 |
| &nbsp;&nbsp;&nbsp; 4150000 | Geisinger Authority, PA Health System (Geisinger Health System), Health System Revenue Bonds (Series 2020A), <br> 4.000%, 4/1/2050<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3959018 |
| &nbsp;&nbsp;&nbsp; 1360000 | Lancaster County, PA Hospital Authority (University of Pennsylvania Health System), Revenue Refunding Bonds <br> (Series 2016), 5.000%, 8/15/2042<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1422939 |
| &nbsp;&nbsp;&nbsp; 1000000 | Montgomery County, PA Higher Education & Health Authority Hospital (Thomas Jefferson University), Revenue Refunding <br> Bonds (Series 2022B), 4.000%, 5/1/2041<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 995141 |
| &nbsp;&nbsp;&nbsp; 1290000 | Northampton County, PA General Purpose Authority (Lafayette College), College Refunding and Revenue Bonds <br> (Series 2017), 5.000%, 11/1/2047<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1363712 |
| &nbsp;&nbsp;&nbsp; 3030000 | Northampton County, PA General Purpose Authority (St. Luke's University Health Network), Hospital Revenue Bonds <br> (Series 2018A), (Original Issue Yield: 4.090%), 4.000%, 8/15/2048<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2868326 |

---

**8**

------

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| | | |
|:---|:---|:---|
| **Shares or**<br> **Principal**<br> **Amount**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **Pennsylvania—continued** |  |
| $5000000 | Pennsylvania State Higher Education Facilities Authority (Thomas Jefferson University), Fixed Rate Revenue Bonds <br> (Series 2015A), 5.000%, 9/1/2045<br>| $5076854 |
| &nbsp;&nbsp;&nbsp; 2250000 | Pennsylvania State Higher Education Facilities Authority (University of Pennsylvania Health System), Revenue Bonds <br> (Series 2017A), 5.000%, 8/15/2047<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2360929 |
| &nbsp;&nbsp;&nbsp; 2000000 | Pennsylvania State Turnpike Commission, Turnpike Revenue Bonds (Series 2015B), 5.000%, 12/1/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2070319 |
| &nbsp;&nbsp;&nbsp; 1155000 | Pennsylvania State Turnpike Commission, Turnpike Revenue Bonds (Series 2022B), 5.250%, 12/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1285121 |
| &nbsp;&nbsp;&nbsp; 4240000 | Pennsylvania State University, Revenue Bonds (Series 2022A), 5.000%, 9/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4715122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 405000 | Philadelphia, PA Authority for Industrial Development (PresbyHomes Germantown/Morrisville), Senior Living Revenue <br> Bonds (Series 2005A), 5.625%, 7/1/2035<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 413870 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47435985 |
|  | **Puerto Rico—1.4%** |  |
| &nbsp;&nbsp;&nbsp; 5000000 | Puerto Rico Sales Tax Financing Corp., Restructured Capital Appreciation Sales Tax Bonds (Series 2019A-1), (Original Issue <br> Yield: 5.375%), 3.450%, 7/1/2046<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1373035 |
| &nbsp;&nbsp; 16425000 | 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;&nbsp;&nbsp;&nbsp;&nbsp; 16182710 |
| &nbsp;&nbsp;&nbsp; 3340000 | Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Bonds (Series 2019A-2), 4.784%, 7/1/2058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3185660 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20741405 |
|  | **Rhode Island—0.7%** |  |
| &nbsp;&nbsp;&nbsp; 5000000 | Rhode Island State Health and Educational Building Corp. (Brown University), Higher Education Facilities Revenue Bonds <br> (Series 2022A), 5.000%, 9/1/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6232662 |
| &nbsp;&nbsp;&nbsp; 4500000 | Tobacco Settlement Financing Corp., RI, Tobacco Settlement Asset-Backed Bonds (Series 2015B), 5.000%, 6/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4529379 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10762041 |
|  | **South Carolina—0.5%** |  |
| &nbsp;&nbsp;&nbsp; 6250000 | South Carolina Jobs-EDA (Prisma Health Obligated Group), Hospital Revenue Bonds (Series 2018A), 5.000%, 5/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6468605 |
| &nbsp;&nbsp;&nbsp; 1500000 | South Carolina State Public Service Authority (Santee Cooper), Revenue Refunding and Improvement Bonds <br> (Series 2020A), 4.000%, 12/1/2042<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1470885 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7939490 |
|  | **South Dakota—0.1%** |  |
| &nbsp;&nbsp;&nbsp; 1000000 | Educational Enhancement Funding Corp., SD, Tobacco Settlement Revenue Bonds (Series 2013B), (United States Treasury <br> COL), 5.000%, 6/1/2023<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1008234 |
|  | **Tennessee—1.0%** |  |
| &nbsp;&nbsp;&nbsp; 6105000 | Greenville, TN Health and Educational Facilities Board (Ballad Health), Hospital Revenue Bonds (Series 2018A), <br> 4.000%, 7/1/2040<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5987011 |
| &nbsp;&nbsp;&nbsp; 5000000 | Metropolitan Government Nashville & Davidson County, TN, GO Improvement Bonds (Series 2018), 5.000%, 7/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5679893 |
| &nbsp;&nbsp;&nbsp; 1500000 | Metropolitan Nashville Tennessee Airport Authority, Airport Revenue Bonds (Series 2022A), 5.250%, 7/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1687680 |
| &nbsp;&nbsp;&nbsp; 1280000 | Tennessee Energy Acquisition Corp., Gas Revenue Bonds (Series 2006A), (Goldman Sachs Group, Inc. GTD), <br> 5.250%, 9/1/2023<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1291016 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14645600 |
|  | **Texas—4.6%** |  |
| &nbsp;&nbsp;&nbsp; 2000000 | Central Texas Regional Mobility Authority, Senior Lien Revenue Bonds (Series 2021B), 4.000%, 1/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1933492 |
| &nbsp;&nbsp;&nbsp; 3000000 | Central Texas Regional Mobility Authority, Senior Lien Revenue Refunding Bonds (Series 2021D), 4.000%, 1/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2987175 |
| &nbsp;&nbsp;&nbsp; 1080000 | Clifton Higher Education Finance Corporation, TX (Idea Public Schools), 6.000%, 8/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1098088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | Clifton Higher Education Finance Corporation, TX (Idea Public Schools), Education Revenue Bonds (Series 2012), <br> 5.000%, 8/15/2042<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500501 |
| &nbsp;&nbsp;&nbsp; 3000000 | Clifton Higher Education Finance Corporation, TX (Uplift Education), Revenue Bonds (Series 2015A), 5.000%, 12/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3066983 |
| &nbsp;&nbsp;&nbsp; 1985000 | Conroe, TX Independent School District, UT GO Tax School Building Bonds (Series 2022), (Texas Permanent School Fund <br> Guarantee Program GTD), 4.000%, 2/15/2047<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2002089 |
| &nbsp;&nbsp;&nbsp; 3000000 | Corpus Christi, TX Utility System, Junior Lien Revenue Improvement Bonds (Series 2015A), 5.000%, 7/15/2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3135258 |
| &nbsp;&nbsp;&nbsp; 1000000 | Dallas, TX Waterworks & Sewer System, Revenue Refunding Bonds (Series 2013), (United States Treasury PRF <br> 10/1/2023@100), 5.000%, 10/1/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1017247 |
| &nbsp;&nbsp;&nbsp; 1200000 | Dallas-Fort Worth, TX (Dallas-Fort Worth, TX International Airport), Joint Revenue Refunding Bonds (Series 2022B), <br> 4.000%, 11/1/2045<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1189531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 764000 | Decatur, TX Hospital Authority (Wise Regional Health System), Hospital Revenue Bonds (Series 2021C), 4.000%, 9/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 646164 |

---

**9**

------

---

| | | |
|:---|:---|:---|
| **Shares or**<br> **Principal**<br> **Amount**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **Texas—continued** |  |
| $5000000 | Grand Parkway Transportation Corp., TX, Subordinate Tier Toll Revenue Bonds (Series 2013B TELA Supported), <br> (United States Treasury PRF 10/1/2023@100), 5.250%, 10/1/2051<br>| $5091077 |
| &nbsp;&nbsp;&nbsp; 2000000 | Harris County, TX Cultural Education Facilities Finance Corp. (Brazos Presbyterian Homes, Inc.), First Mortgage Revenue <br> Bonds (Series 2016), 5.000%, 1/1/2048<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1729111 |
| &nbsp;&nbsp;&nbsp; 2750000<br><sup>1</sup> <br>| Harris County, TX Education Facilities Finance Corp. (Memorial Hermann Health System), Hospital Revenue Bonds <br> (Series 2022C) FRNs, 2.510% (SIFMA 7-day +0.850%), Mandatory Tender 12/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2702596 |
| &nbsp;&nbsp;&nbsp; 2000000 | Houston, TX Combined Utility System, First Lien Revenue & Refunding Bonds (Series 2014D), 5.000%, 11/15/2044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2058274 |
| &nbsp;&nbsp;&nbsp; 1528893 | 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 701822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 325000 | New Hope Cultural Education Facilities Finance Corporation (MRC Crestview), Retirement Facility Revenue Bonds <br> (Series 2016), (United States Treasury PRF 11/15/2024@102), 5.000%, 11/15/2036<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 344738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 650000 | New Hope Cultural Education Facilities Finance Corporation (MRC Langford), Retirement Facility Revenue Bonds <br> (Series 2016A), 5.500%, 11/15/2046<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 560545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 915000 | North Texas Tollway Authority, First Tier Revenue Refunding Bonds (Series 2015B), 5.000%, 1/1/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 937286 |
| &nbsp;&nbsp;&nbsp; 3000000 | North Texas Tollway Authority, Second Tier Revenue Refunding Bonds (Series 2014B), 5.000%, 1/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3063626 |
| &nbsp;&nbsp;&nbsp; 1430000 | North Texas Tollway Authority, Second Tier Revenue Refunding Bonds (Series 2018), 4.250%, 1/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1423387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 335000 | North Texas Tollway Authority, Second Tier Revenue Refunding Bonds (Series 2021B), 4.000%, 1/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 332737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 835000 | Red River, TX HFDC (MRC The Crossings), Retirement Facility Revenue Bonds (Series 2014A), (Original Issue Yield: <br> 7.550%), (United States Treasury PRF 11/15/2024@100), 7.500%, 11/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 906717 |
| &nbsp;&nbsp;&nbsp; 3000000 | San Antonio, TX Electric & Gas System, Revenue Bonds (New Series 2015), 5.000%, 2/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3232785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 750000 | San Antonio, TX Electric & Gas System, Revenue Refunding Bonds (New Series 2015), 5.000%, 2/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 809807 |
| &nbsp;&nbsp;&nbsp; 3570000 | San Antonio, TX Independent School District, UT GO School Building Bonds (Series 2022), (Texas Permanent School Fund <br> Guarantee Program GTD), 5.000%, 8/15/2052<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3976089 |
| &nbsp;&nbsp;&nbsp; 1610000 | San Antonio, TX Public Facilities Corp. (San Antonio, TX), Convention Center Facilities Lease Revenue Refunding and <br> Improvement Bonds (Series 2022), 5.000%, 9/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1947237 |
| &nbsp;&nbsp;&nbsp; 1000000 | Tarrant County, TX Cultural Education Facilities Finance Corp. (Methodist Hospitals of Dallas), Hospital Revenue Bonds <br> (Series 2022), 4.000%, 10/1/2042<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1002688 |
| &nbsp;&nbsp;&nbsp; 1990000 | Tarrant County, TX, Limited Tax Bonds (Series 2022), 5.000%, 7/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2383242 |
| &nbsp;&nbsp;&nbsp; 2965000 | Texas Municipal Gas Acquisition & Supply Corp. I, Gas Supply Senior Lien Revenue Bonds (Series 2006A), (Bank of <br> America Corp. GTD), 5.250%, 12/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3164770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 720000 | Texas State Transportation Commission (State Highway 249 System), First Tier Toll Revenue Bonds (Series 2019A), <br> 5.000%, 8/1/2057<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 731199 |
| &nbsp;&nbsp;&nbsp; 5000000 | Texas Water Development Board (Texas State Water Implementation Revenue Fund), Revenue Bonds (Series 2017A), <br> 4.000%, 10/15/2036<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5204923 |
| &nbsp;&nbsp;&nbsp; 1500000 | Texas Water Development Board, State Water Implementation Revenue Fund for Texas Revenue Bonds (Series 2022), <br> 5.000%, 10/15/2047<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1688159 |
| &nbsp;&nbsp;&nbsp; 5000000 | University of Texas System (The Board of Regents of)—Permanent University Fund, General Revenue Bonds (Series 2022A), <br> 5.000%, 7/1/2042<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5759723 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67329066 |
|  | **Utah—0.4%** |  |
| &nbsp;&nbsp;&nbsp; 3990000 | Intermountain Power Agency, Power Supply Revenue Bonds (Series 2022A), 5.000%, 7/1/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4447828 |
| &nbsp;&nbsp;&nbsp; 1755000 | Utah State Board of Higher Education (University of Utah), General Revenue Bonds (Series 2022B), 5.000%, 8/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2055100 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6502928 |
|  | **Virgin Islands—0.1%** |  |
| &nbsp;&nbsp;&nbsp; 1960000 | Matching Fund Special Purpose Securitization Corporation, VI, Matching Fund Securitization Bonds (Series 2022A), <br> 5.000%, 10/1/2039<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1957625 |
|  | **Virginia—1.6%** |  |
| &nbsp;&nbsp;&nbsp; 1805000 | Fairfax County, VA Water Authority, Water Revenue Bonds (Series 2021), 4.000%, 4/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1815161 |
| &nbsp;&nbsp;&nbsp; 4900000 | University of Virginia (The Rectors and Visitors of), General Revenue Pledge Refunding Bonds (Series 2018B), <br> 4.000%, 8/1/2048<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4929351 |
| &nbsp;&nbsp;&nbsp; 7385000 | Virginia College Building Authority, Revenue Bonds (Series 2018A), 5.000%, 9/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8441621 |
| &nbsp;&nbsp;&nbsp; 5000000 | Virginia Commonwealth Transportation Board (Virginia State), Transportation Capital Projects Revenue Refunding Bonds <br> (Series 2017), 5.000%, 5/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5456764 |

---

**10**

------

---

| | | |
|:---|:---|:---|
| **Shares or**<br> **Principal**<br> **Amount**<br>|  | **Value** |
|  | MUNICIPAL BONDS—continued |  |
|  | **Virginia—continued** |  |
| $2500000 | Virginia Small Business Financing Authority (Bon Secours Mercy Health), Hospital Facilities Revenue Bonds (Series 2020A), <br> 4.000%, 12/1/2049<br>| $2391441 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23034338 |
|  | **Washington—1.8%** |  |
| &nbsp;&nbsp;&nbsp; 1745000 | Seattle, WA (Seattle, WA Water System), Water System Improvement and Refunding Revenue Bonds (Series 2022), <br> 5.000%, 9/1/2044<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1982278 |
| &nbsp;&nbsp;&nbsp; 3465000 | Seattle, WA Municipal Light & Power, Improvement Revenue Bonds (Series 2018A), 4.000%, 1/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3710320 |
| &nbsp;&nbsp;&nbsp; 1460000 | Washington State Health Care Facilities Authority (CommonSpirit Health), Revenue Refunding Bonds (Series 2019A-1), <br> 4.000%, 8/1/2044<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1404856 |
| &nbsp;&nbsp;&nbsp; 1500000<br><sup>2</sup> <br>| Washington State Housing Finance Commission (Presbyterian Retirement Communities Northwest), Revenue Bonds <br> (Series 2016), 5.000%, 1/1/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1405610 |
| &nbsp;&nbsp;&nbsp; 2000000<br><sup>2</sup> <br>| Washington State Housing Finance Commission (Rockwood Retirement Communities), Nonprofit Housing Revenue & <br> Refunding Revenue Bonds (Series 2014A), (Original Issue Yield: 7.400%), (United States Treasury PRF 1/1/2024@100), <br> 7.375%, 1/1/2044<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2083535 |
| &nbsp;&nbsp;&nbsp; 2510000<br><sup>2</sup> <br>| Washington State Housing Finance Commission (Rockwood Retirement Communities), Nonprofit Housing Revenue Bonds <br> (Series 2020A), 5.000%, 1/1/2051<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1887945 |
| &nbsp;&nbsp;&nbsp; 7000000 | Washington State, UT GO Bonds (Series 2018C), 5.000%, 2/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7715730 |
| &nbsp;&nbsp;&nbsp; 1825000 | Washington State, UT GO Motor Vehicle Fuel Tax Bonds (Series 2019B), 5.000%, 6/1/2039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2002729 |
| &nbsp;&nbsp;&nbsp; 4000000 | Washington State, UT GO Various Purpose Bonds (Series 2023A), 5.000%, 8/1/2043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4549318 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26742321 |
|  | **Wisconsin—0.5%** |  |
| &nbsp;&nbsp;&nbsp; 2450000 | Wisconsin Health & Educational Facilities Authority (Hospital Sisters Services, Inc.), Revenue Refunding Bonds <br> (Series 2014A), 5.000%, 11/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2532527 |
| &nbsp;&nbsp;&nbsp; 4000000 | Wisconsin State, UT GO Bonds (Series 2018A), 4.000%, 5/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4150586 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6683113 |
|  | **Wyoming—0.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200000 | Laramie County, WY (Cheyenne Regional Medical Center), Hospital Revenue Refunding Bonds (Series 2021), <br> 4.000%, 5/1/2037<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 203383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 225000 | Laramie County, WY (Cheyenne Regional Medical Center), Hospital Revenue Refunding Bonds (Series 2021), <br> 4.000%, 5/1/2038<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 227730 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 431113 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL MUNICIPAL BONDS<br> (IDENTIFIED COST $860,239,132)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 854145115 |
|  | COMMON STOCKS—36.6% |  |
|  | **Communication Services—3.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 142800<br><sup>3</sup> <br>| Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14114352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 518218 | AT&T, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10556101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 129750 | Comcast Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5105662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13577<br><sup>3</sup> <br>| Meta Platforms, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8731<br><sup>3</sup> <br>| Netflix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3089552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67749 | Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2816326 |
| &nbsp;&nbsp;&nbsp; 2846779 | Vodafone Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3279640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35081<br><sup>3</sup> <br>| Walt Disney Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3805938 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44790137 |
|  | **Consumer Discretionary—2.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 91360<br><sup>3</sup> <br>| Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9421957 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30766<br><sup>3</sup> <br>| Aptiv PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3479327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37088 | Burberry Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1128049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31999 | D. R. Horton, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3157981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 145449 | General Motors Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5719055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8837 | Home Depot, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2864690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15195 | McDonald's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4063143 |

---

**11**

------

---

| | | |
|:---|:---|:---|
| **Shares or**<br> **Principal**<br> **Amount**<br>|  | **Value** |
|  | COMMON STOCKS—continued |  |
|  | **Consumer Discretionary—continued** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15428 | Nike, Inc., Class B | $1964447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22003 | Starbucks Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2401407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12947 | Target Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2228697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125552 | The Wendy's Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2799810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34157 | TJX Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2796092 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42024655 |
|  | **Consumer Staples—3.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12064 | Constellation Brands, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2793057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7031 | Costco Wholesale Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3593825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23107 | Estee Lauder Cos., Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6402488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14583 | Hershey Foods Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3275342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47977 | Kraft Heinz Co./The | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1944508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62148 | Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6478307 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29769 | Procter & Gamble Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4238510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130253 | The Coca-Cola Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7987114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44286 | Unilever PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2262518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55786 | WalMart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8025932 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47001601 |
|  | **Energy—2.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49421 | Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8600243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65022 | ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7924231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 123190 | Exxon Mobil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14291272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6305 | Pioneer Natural Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1452357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65292 | Schlumberger Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3720338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25385 | TotalEnergies SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1577095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31740 | Valero Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4444552 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42010088 |
|  | **Financials—5.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62380 | Allstate Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8013959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87872 | American International Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5555268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 378471 | Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13428151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27907 | Chubb Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6348563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10275 | Goldman Sachs Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3758698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 103803 | Hartford Financial Services Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8056151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25080 | Intercontinental Exchange, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2697354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87537 | JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12251678 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12562 | LPL Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2978701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35874 | Raymond James Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4045511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229819 | Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10771617 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77905651 |
|  | **Health Care—6.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29654 | Abbott Laboratories | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3278250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80395<br><sup>3</sup> <br>| Avantor, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1921441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6545 | Becton Dickinson & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1650780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34376 | Bristol-Myers Squibb Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2497416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36722 | Danaher Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9708562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24068 | Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8283002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35318 | Gilead Sciences, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2964593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 89589 | Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14640634 |

---

**12**

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---

| | | |
|:---|:---|:---|
| **Shares or**<br> **Principal**<br> **Amount**<br>|  | **Value** |
|  | COMMON STOCKS—continued |  |
|  | **Health Care—continued** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10821 | McKesson Corp. | $4097696 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16972 | Medtronic PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1420387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 89192 | Merck & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9580113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 183429 | Pfizer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8100225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16639 | Sanofi | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1635052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40475<br><sup>3</sup> <br>| Tenet Healthcare Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2220054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11687 | Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6665447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22045 | UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11004644 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26307 | Zimmer Biomet Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3349933 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93018229 |
|  | **Industrials—3.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11520 | Cummins, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2874701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23570 | Eaton Corp. PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3823290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50738 | Honeywell International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10577858 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14349 | Hunt (J.B.) Transportation Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2712678 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57515 | Johnson Controls International PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4001319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19655 | L3Harris Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4222287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13331 | Parker-Hannifin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4345906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31614 | Stanley Black & Decker, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2823446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13004 | Union Pacific Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2655287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10173<br><sup>3</sup> <br>| United Rentals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4485784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32534 | Waste Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5033986 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47556542 |
|  | **Information Technology—5.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17465 | Analog Devices, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2994724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 127949 | Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18461761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9970 | Broadcom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5832550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 115691 | Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5630681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 112265 | Intel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3172609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50038 | Microchip Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3883950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80271 | Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19891956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30519 | MKS Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3122704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15723 | Motorola Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4040968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13913 | NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2718183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29952<br><sup>3</sup> <br>| PayPal Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2440788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18089<br><sup>3</sup> <br>| Salesforce, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3038409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27363 | Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6299236 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81528519 |
|  | **Materials—1.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10414 | Albemarle Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2931020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 72767 | Freeport-McMoRan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3246864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16968 | Linde PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5615390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14699 | LyondellBasell Industries N.V. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1421246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 107784<br><sup>3</sup> <br>| MP Materials Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3504058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26155 | Vulcan Materials Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4794996 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21513574 |
|  | **Utilities—2.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71374 | American Electric Power Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6706301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 389992 | CenterPoint Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11746559 |

---

**13**

------

---

| | | |
|:---|:---|:---|
| **Shares or**<br> **Principal**<br> **Amount**<br>|  | **Value** |
|  | COMMON STOCKS—continued |  |
|  | **Utilities—continued** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 166916 | NextEra Energy, Inc. | $12456941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93837 | Southern Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6350888 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37260689 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL COMMON STOCKS<br> (IDENTIFIED COST $401,560,569)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 534609685 |
| <sup>1</sup> <br>| SHORT-TERM MUNICIPALS—4.1% |  |
|  | **Alabama—1.9%** |  |
| $17800000 | Columbia, AL IDB PCRBs (Alabama Power Co.), (Series 2014-A) Daily VRDNs, 1.350%, 2/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17800000 |
| &nbsp;&nbsp;&nbsp; 7800000 | Columbia, AL IDB PCRBs (Alabama Power Co.), (Series 2014-B) Daily VRDNs, 1.350%, 2/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7800000 |
| &nbsp;&nbsp;&nbsp; 1000000 | Columbia, AL IDB PCRBs (Alabama Power Co.), (Series C) Daily VRDNs, 1.330%, 2/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | Mobile, AL IDB (Alabama Power Co.), (First Series 2009: Barry Plant) Daily VRDNs, 1.350%, 2/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27100000 |
|  | **Michigan—1.1%** |  |
| &nbsp;&nbsp;&nbsp; 1550000 | Green Lake Township, MI (Interlochen Center) Daily VRDNs, (BMO Harris Bank, N.A. LOC), 1.200%, 2/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1550000 |
| &nbsp;&nbsp;&nbsp; 6220000 | Michigan State Strategic Fund (Henry Ford Museum & Greenfield Village) Daily VRDNs, (Comerica Bank LOC), <br> 1.300%, 2/1/2023<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6220000 |
| &nbsp;&nbsp;&nbsp; 8900000 | Michigan Strategic Fund (Air Products & Chemicals, Inc.), (Series 2007) Daily VRDNs, 1.230%, 2/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8900000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16670000 |
|  | **New York—0.1%** |  |
| &nbsp;&nbsp;&nbsp; 2100000 | Metropolitan Transportation Authority, NY (MTA Transportation Revenue), (Subseries 2012G-1) Daily VRDNs, (Barclays <br> Bank plc LOC), 1.250%, 2/1/2023<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2100000 |
|  | **Ohio—0.4%** |  |
| &nbsp;&nbsp;&nbsp; 2500000 | Allen County, OH (Bon Secours Mercy Health), (Series 2010C) Daily VRDNs, (BMO Harris Bank, N.A. LOC), <br> 1.160%, 2/1/2023<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2500000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100000 | Ohio State Higher Educational Facility Commission (Cleveland Clinic), (Series 2008 B-4) Daily VRDNs, (Barclays Bank plc <br> LIQ), 1.220%, 2/1/2023<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100000 |
| &nbsp;&nbsp;&nbsp; 2500000 | Ohio State Higher Educational Facility Commission (Cleveland Clinic), (Series 2013B-2) Daily VRDNs, (Bank of New York <br> Mellon, N.A. LIQ), 1.260%, 2/1/2023<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2500000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5100000 |
|  | **Pennsylvania—0.4%** |  |
| &nbsp;&nbsp;&nbsp; 4895000 | Delaware County, PA IDA (United Parcel Service, Inc.), (Series 2015) Daily VRDNs, (United Parcel Service, Inc. GTD), <br> 1.300%, 2/1/2023<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4895000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50000 | Lancaster County, PA Hospital Authority (Masonic Villages), (Series D of 2008) Daily VRDNs, (JPMorgan Chase Bank, N.A. <br> LOC), 1.300%, 2/1/2023<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400000 | Philadelphia, PA, (Series 2009B) Weekly VRDNs, (Barclays Bank plc LOC), 1.600%, 2/2/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5345000 |
|  | **Tennessee—0.2%** |  |
| &nbsp;&nbsp;&nbsp; 3100000 | Shelby County, TN Health Education & Housing Facilities Board (Methodist Le Bonheur Healthcare), (Series 2008A) Daily <br> VRDNs, (Assured Guaranty Municipal Corp. INS)/(U.S. Bank, N.A. LIQ), 1.200%, 2/1/2023<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3100000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL SHORT-TERM MUNICIPALS<br> (IDENTIFIED COST $59,415,000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59415000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL INVESTMENT IN SECURITIES—99.1%<br> (IDENTIFIED COST $1,321,214,701)<br>| &nbsp;&nbsp; 1448169800 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; OTHER ASSETS AND LIABILITIES - NET—0.9%<sup>5</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13872538 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL NET ASSETS—100% | $1462042338 |

---

The average notional value of short futures contracts held by the Fund throughout the period was $5,941,096. This is based on amounts held as of each month end throughout the three-month period.

At January 31, 2023, the Fund held no securities that are subject to the federal alternative minimum tax (AMT).

*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 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 not indicate a reference rate and spread in their description above.*

**14**

------

*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 the Securities Act of 1933; or (b) is subject to a contractual restriction on public sales. At January 31, 2023, these restricted securities amounted to $23,526,121, which represented 1.6% of total net assets.* 

Additional information on restricted securities held at January 31, 2023, is as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Security** | &nbsp;&nbsp; **Acquisition**<br> **Date**<br>| **Acquisition**<br> **Cost**<br>| **Value** |
| California Public Finance Authority (Kendal at Sonoma), Enso Village Senior Living Revenue Refunding Bonds <br> (Series 2021A), 5.000%, 11/15/2051<br>| 5/27/2021 | $262078  | $220561  |
| California Public Finance Authority (Kendal at Sonoma), Enso Village Senior Living Revenue Refunding Bonds <br> (Series 2021A), 5.000%, 11/15/2056<br>| 5/27/2021 | $260658  | $216538  |
| California School Finance Authority (KIPP LA), School Facility Revenue Bonds (Series 2014A), 5.000%, 7/1/2034 | 6/24/2014 | $501520  | $509959  |
| California School Finance Authority (KIPP LA), School Facility Revenue Bonds (Series 2014A), 5.125%, 7/1/2044 | 7/09/2014 | $1502523  | $1515712  |
| California School Finance Authority (KIPP LA), School Facility Revenue Bonds (Series 2015A), 5.000%, 7/1/2045 | 8/27/2015 | $1150415  | $1149645  |
| California Statewide Communities Development Authority (899 Charleston LLC), Revenue Refunding Bonds <br> (Series 2014A), 5.250%, 11/1/2044<br>| 11/13/2014 | $1125919  | $968207  |
| California Statewide Communities Development Authority (Loma Linda University Medical Center), Revenue <br> Bonds (Series 2016A), 5.000%, 12/1/2046<br>| 1/11/2023 | $2738207  | $2694043  |
| Collier County, FL IDA (Arlington of Naples), Continuing Care Community Revenue Bonds (Series 2013A), <br> (Original Issue Yield: 8.250%), 8.125%, 5/15/2044<br>| 8/11/2017 | $4408555  | $2494000  |
| Kansas City, MO Redevelopment Authority (Kansas City Convention Center Headquarters Hotel CID), <br> Revenue Bonds (Series 2018B), (Original Issue Yield: 5.079%), 5.000%, 2/1/2050<br>| 5/15/2018 | $4070558  | $2962584  |
| Maricopa County, AZ, IDA (Paradise Schools), Revenue Refunding Bonds, 5.000%, 7/1/2036 | 10/6/2016 | $683443  | $670572  |
| New Hampshire Health and Education Facilities Authority (Hillside Village), Revenue Bonds (Series 2017A), <br> 6.125%, 7/1/2037<br>| 10/4/2017 | $727541  | $183653  |
| New York Liberty Development Corporation (3 World Trade Center), Revenue Bonds (Series 2014 Class 1), <br> 5.000%, 11/15/2044<br>| 10/29/2014 | $2500000  | $2486677  |
| Pima County, AZ Industrial Development Authority (La Posada at Pusch Ridge), Senior Living Revenue Bonds <br> (Series 2022A), 6.875%, 11/15/2052<br>| 10/6/2022 | $2000000  | $2076880  |
| Washington State Housing Finance Commission (Presbyterian Retirement Communities Northwest), <br> Revenue Bonds (Series 2016), 5.000%, 1/1/2031<br>| 12/14/2016 | $1505269  | $1405610  |
| Washington State Housing Finance Commission (Rockwood Retirement Communities), Nonprofit Housing Revenue <br> & Refunding Revenue Bonds (Series 2014A), (Original Issue Yield: 7.400%), 7.375%, 1/1/2044<br>| 1/31/2014 | $1994498  | $2083535  |
| Washington State Housing Finance Commission (Rockwood Retirement Communities), Nonprofit Housing Revenue <br> Bonds (Series 2020A), 5.000%, 1/1/2051<br>| 6/9/2021 | $2746343  | $1887945 |

---

*Non-income-producing security.*

*Security in default.*

*Assets, other than investments in securities, less liabilities.*

Note: The categories of investments are shown as a percentage of total net assets at January 31, 2023.

**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 Equity Management Company of Pennsylvania (the "Adviser").

◾ Equity securities listed on an exchange or traded through a regulated market system are valued at their last reported sale price or official closing price in their principal exchange or market.

◾ 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.

**15**

------

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 and Significant Events Procedures**

Pursuant to Rule 2a-5 under the Investment Company Act, 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.

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.

The Adviser has also adopted procedures requiring an investment to be priced at its fair value whenever the Valuation Committee determines that a significant event affecting the value of the investment has occurred between the time as of which the price of the investment would otherwise be determined and the time as of which the NAV is computed. An event is considered significant if there is both an affirmative expectation that the investment's value will change in response to the event and a reasonable basis for quantifying the resulting change in value. Examples of significant events that may occur after the close of the principal market on which a security is traded, or after the time of a price evaluation provided by a pricing service or a dealer, include:

◾ With respect to securities traded principally in foreign markets, significant trends in U.S. equity markets or in the trading of foreign securities index futures contracts;

◾ Political or other developments affecting the economy or markets in which an issuer conducts its operations or its securities are traded;

◾ Announcements concerning matters such as acquisitions, recapitalizations, litigation developments, or a natural disaster affecting the issuer's operations or regulatory changes or market developments affecting the issuer's industry.

The Adviser has adopted procedures whereby the Valuation Committee uses a pricing service to provide factors to update the fair value of equity securities traded principally in foreign markets from the time of the close of their respective foreign stock exchanges to the pricing time of the Fund. For other significant events, the Fund may seek to obtain more current quotations or price evaluations from alternative pricing sources. If a reliable alternative pricing source is not available, the Valuation Committee will determine the fair value of the investment in accordance with the fair valuation procedures approved by the Adviser. The Trustees periodically review fair valuations made in response to significant events.

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.

**16**

------

The following is a summary of the inputs used, as of January 31, 2023, in valuing the Fund's assets carried at fair value:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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** |
| **Equity Securities:** |  |  |  |  |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Domestic | $494897471 | $— | $— | $494897471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International | &nbsp;&nbsp;&nbsp; 29829860 | &nbsp;&nbsp;&nbsp;&nbsp; 9882354 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39712214 |
| **Debt Securities:** |  |  |  |  |
| Municipal Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 854145115 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 854145115 |
| Short-Term Municipals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 59415000 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59415000 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL SECURITIES | $524727331 | $923442469 | $— | $1448169800 |

---

The following acronym(s) are used throughout this portfolio:

---

| | |
|:---|:---|
| COL | —Collateralized |
| EDA | —Economic Development Authority |
| FRNs | —Floating Rate Notes |
| GO | —General Obligation |
| GTD | —Guaranteed |
| HEFA | —Health and Education Facilities Authority |
| HFDC | —Health Facility Development Corporation |
| IDA | —Industrial Development Authority |
| IDB | —Industrial Development Bond |
| INS | —Insured |
| LIQ | —Liquidity Agreement |
| LOC | —Letter of Credit |
| LT | —Limited Tax |
| PCRBs | —Pollution Control Revenue Bonds |
| PRF | —Pre-refunded |
| SIFMA | —Securities Industry and Financial Markets Association |
| SOFR | —Secured Overnight Financing Rate |
| TELA | —Toll Equity Loan Agreement |
| TFA | —Transitional Finance Authority |
| TOBs | —Tender Option Bonds |
| USD | —Unified School District |
| UT | —Unlimited Tax |
| VRDNs | —Variable Rate Demand Notes |

---

**17**

------

## 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 Income Securities Trust

- **b. Investment Company Act file number:** 811-04577

- **c. CIK number of Registrant:** 0000789281

- **d. LEI of Registrant:** 254900ZSL64R3SX7WJ45

- **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 Muni and Stock Advantage Fund

- **b. EDGAR series identifier (if any):** S000009076

- **c. LEI of Series:** HCY4VLSS0D2ZZF37FQ04

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

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1464253882.79

**Total Liabilities:** $2137419.82

**Net Assets:** $1462116462.97

**Cash Not Reported:** $56142.23

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -1374.918072200000 | **1-Year:** -32190.862352100000 | **5-Year:** -128440.873429200000 | **10-Year:** -257314.416385600000 | **30-Year:** -63077.077404300000

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

- **3-Month:** -103.880275900000 | **1-Year:** -2868.221478500000 | **5-Year:** -13692.322876300000 | **10-Year:** -27159.559849700000 | **30-Year:** -14298.634102200000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000024657 | 5.07%                | -2.02%               | 3.46%                |
| Class ID C000024658 | 5.00%                | -2.09%               | 3.40%                |
| Class ID C000024659 | 5.01%                | -2.09%               | 3.40%                |
| Class ID C000051328 | 5.07%                | -2.02%               | 3.46%                |
| Class ID C000098257 | 5.09%                | -2.08%               | 3.48%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $363757.90               | $65689217.85                               |
| Month 2  | $2867536.38              | $-34982908.92                              |
| Month 3  | $6707978.95              | $40054942.20                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CALIFORNIA SCH FIN AUTH SCH FA            | CALIFORNIA SCHOOL FINANCE AUTHORITY                                     | CUSIP: 13059TAR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1515711.60   | 0.10%             | 2044-07-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Intercontinental Exchange Inc             | Intercontinental Exchange Inc                                           | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |     25080 | NS      | $2697354.00   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R            | Massachusetts Development Finance Agency                                | CUSIP: 57584Y3V9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2846839.50   | 0.19%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE            | South Carolina Jobs-Economic Development Authority                      | CUSIP: 83703FLP5<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   6250000 | PA      | $6468605.63   | 0.44%             | 2048-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST SPL TAX OBLIG R            | State of Connecticut Special Tax Revenue                                | CUSIP: 207758L50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1729909.65   | 0.12%             | 2042-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PIMA CNTY AZ INDL DEV AUTH SEN            | Industrial Development Authority of the County of Pima/The              | CUSIP: 72178AAH5<br>LEI: 549300QDTQ25545R4K19 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2076880.20   | 0.14%             | 2052-11-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| ANNE ARUNDEL CNTY MD                      | County of Anne Arundel MD                                               | CUSIP: 03588HUL8<br>LEI: 549300L8Q6EFVTZGWW41 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6751276.20   | 0.46%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN MUNI PWR-OHIO INC OH             | AMERICAN MUNICIPAL POWER INC                                            | CUSIP: 02765UGK4<br>LEI: EARKGGZJJEMVD66XQ486 | Long             | DBT              | MUN               | US        |   2320000 | PA      | $2349030.39   | 0.16%             | 2042-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Target Corp                               | Target Corp                                                             | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |     12947 | NS      | $2228696.58   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| TARRANT CNTY TX                           | County of Tarrant TX                                                    | CUSIP: 876315ZA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1990000 | PA      | $2383242.11   | 0.16%             | 2033-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX CULTURAL EDU FA            | HARRIS COUNTY CULTURAL EDUCATION FACILITIES FINANCE CORP                | CUSIP: 414009LE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1729110.60   | 0.12%             | 2048-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL WTR & SWR R            | County of Miami-Dade FL Water & Sewer System Revenue                    | CUSIP: 59334DMT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3879801.20   | 0.27%             | 2051-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CUYAHOGA CNTY OH HOSP REVENUE             | County of Cuyahoga OH                                                   | CUSIP: 2322655W4<br>LEI: 549300GHDK9DGLUNJU89 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2914290.30   | 0.20%             | 2057-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Zimmer Biomet Holdings Inc                | Zimmer Biomet Holdings Inc                                              | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | EC               | CORP              | US        |     26307 | NS      | $3349933.38   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO IL                                | City of Chicago IL                                                      | CUSIP: 167486N88<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $972228.80    | 0.07%             | 2035-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST HGR EDUCTNL FAC COMMIS            | Ohio Higher Educational Facility Commission                             | CUSIP: 67756AH96<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.01%             | 2043-01-01      | Variable      | 1.08%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp                     | Tenet Healthcare Corp                                                   | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |     40475 | NS      | $2220053.75   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| DALLAS-FORT WORTH TX INTERNATI            | Dallas Fort Worth International Airport                                 | CUSIP: 23503CBM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1189531.08   | 0.08%             | 2045-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Merck & Co Inc                            | Merck & Co Inc                                                          | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     89192 | NS      | $9580112.72   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R            | MASSACHUSETTS DEVELOPMENT FINANCE AGENCY                                | CUSIP: 57584XJF9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5198778.00   | 0.36%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY AZ INDL DEV AUTH            | MARICOPA COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY                        | CUSIP: 56681NAW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    665000 | PA      | $670571.90    | 0.05%             | 2036-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CENTRL TX REGL MOBILITY AUTH R            | Central Texas Regional Mobility Authority                               | CUSIP: 155498NL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2987174.70   | 0.20%             | 2044-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST                              | State of Wisconsin                                                      | CUSIP: 97705MLQ6<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4150586.00   | 0.28%             | 2034-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER CNTY PA HOSP AUTH               | Lancaster County Hospital Authority/PA                                  | CUSIP: 514045ZG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50000.00     | 0.00%             | 2034-07-01      | Variable      | 1.20%                 | No            |                  2 | On Loan: No      |
| TEXAS ST TRANSPRTN COMMISSION             | Texas Transportation Commission                                         | CUSIP: 88283NAZ5<br>LEI: 5493006JSGNPGVJS7691 | Long             | DBT              | MUN               | US        |    720000 | PA      | $731199.46    | 0.05%             | 2057-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST             | NJ TRANSPRTN-A-REF 5 6/31                                               | CUSIP: 6461363Q2<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1070170.00   | 0.07%             | 2031-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA SCH FIN AUTH SCH FA            | CALIFORNIA SCHOOL FINANCE AUTHORITY                                     | CUSIP: 13059TAQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $509959.25    | 0.03%             | 2034-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Chevron Corp                              | Chevron Corp                                                            | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     49421 | NS      | $8600242.42   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI            | Washington State Housing Finance Commission                             | CUSIP: 939783D29<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   2510000 | PA      | $1887945.19   | 0.13%             | 2051-01-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| HILLSBOROUGH CNTY FL AVIATION             | Hillsborough County Aviation Authority                                  | CUSIP: 432308K60<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2125000 | PA      | $2270720.39   | 0.16%             | 2048-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR            | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $1373035.00   | 0.09%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Albemarle Corp                            | Albemarle Corp                                                          | CUSIP: 012653101<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Long             | EC               | CORP              | US        |     10414 | NS      | $2931020.30   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| CONROE TX INDEP SCH DIST                  | Conroe Independent School District                                      | CUSIP: 2084182J1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1985000 | PA      | $2002088.87   | 0.14%             | 2047-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GRAND PARKWAY TRANSPRTN CORP T            | GRAND PARKWAY TRANSPORTATION CORP                                       | CUSIP: 38611TAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5091076.50   | 0.35%             | 2051-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST LIBERTY DEV CORP L            | NEW YORK LIBERTY DEVELOPMENT CORP                                       | CUSIP: 649519DA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2486676.75   | 0.17%             | 2044-11-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL SEAPORT REV            | COUNTY OF MIAMI-DADE SEAPORT DEPARTMENT                                 | CUSIP: 59335KAP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1431014.62   | 0.10%             | 2030-10-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MUNI ELEC AUTH OF GA                      | Municipal Electric Authority of Georgia                                 | CUSIP: 62620HHQ8<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2622709.75   | 0.18%             | 2064-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH HOSP REVEN            | INDIANA FINANCE AUTHORITY                                               | CUSIP: 45471ANQ1<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    765000 | PA      | $799881.02    | 0.05%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV            | Colorado Health Facilities Authority                                    | CUSIP: 19648FWT7<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1301058.96   | 0.09%             | 2047-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Microchip Technology Inc                  | Microchip Technology Inc                                                | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |     50038 | NS      | $3883949.56   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| NORTH CAROLINA ST TURNPIKE AUT            | NC TPK AUTH-A-REF 4 1/34                                                | CUSIP: 65830VAB6<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4251075.60   | 0.29%             | 2034-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RIVERSIDE CNTY CA TRANSPRTN CO            | Riverside County Transportation Commission                              | CUSIP: 76912DAZ1<br>LEI: 5493003G0IESJS57M350 | Long             | DBT              | MUN               | US        |    385000 | PA      | $375934.10    | 0.03%             | 2046-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST MUNI PWR AGY                   | INDIANA MUNICIPAL POWER AGENCY                                          | CUSIP: 454898VR5<br>LEI: AX0ZCCVOQ71Z4RXBL233 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1347151.75   | 0.09%             | 2042-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DALLAS TX WTRWKS & SWR SYS REV            | CITY OF DALLAS TX WATERWORKS & SEWER SYSTEM REVENUE                     | CUSIP: 2354165U4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1017246.50   | 0.07%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES MI WTR AUTH WTR SP            | Great Lakes Water Authority Water Supply System Revenue                 | CUSIP: 39081JEV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2980000 | PA      | $3269428.33   | 0.22%             | 2052-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SEATTLE WA WTR SYS REVENUE                | City of Seattle WA Water System Revenue                                 | CUSIP: 812728XT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1745000 | PA      | $1982278.12   | 0.14%             | 2044-09-01      | Fixed         | 5.00%                 | 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        |   2500000 | PA      | $2500000.00   | 0.17%             | 2039-01-01      | Variable      | 1.06%                 | No            |                  2 | On Loan: No      |
| DENVER CITY & CNTY CO ARPT REV            | City & County of Denver CO Airport System Revenue                       | CUSIP: 249182SR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4494680.40   | 0.31%             | 2053-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Gilead Sciences Inc                       | Gilead Sciences Inc                                                     | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     35318 | NS      | $2964592.92   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE             | Metropolitan Transportation Authority                                   | CUSIP: 59261AG43<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1536685.65   | 0.11%             | 2050-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Eaton Corp PLC                            | Eaton Corp PLC                                                          | CUSIP: 000000000<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | US        |     23570 | NS      | $3823289.70   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| CMWLTH FING AUTH PA TOBACCO MA            | COMMONWEALTH FINANCING AUTHORITY                                        | CUSIP: 20282EAP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1106351.90   | 0.08%             | 2033-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRL FL EXPRESSWAY AUTH SR L            | Central Florida Expressway Authority                                    | CUSIP: 153476BV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2010000 | PA      | $2019359.57   | 0.14%             | 2040-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAINT JAMES PARISH LA REVENUE             | Parish of St James LA                                                   | CUSIP: 790103AY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1494367.39   | 0.10%             | 2041-08-01      | Variable      | 5.85%                 | No            |                  2 | On Loan: No      |
| Danaher Corp                              | Danaher Corp                                                            | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |     36722 | NS      | $9708562.36   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| WASHINGTON ST                             | State of Washington                                                     | CUSIP: 93974EXU5<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4549318.40   | 0.31%             | 2043-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR            | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | CUSIP: 74529JRL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3340000 | PA      | $3185660.27   | 0.22%             | 2058-07-01      | Fixed         | 4.78%                 | 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        |    650000 | PA      | $560544.66    | 0.04%             | 2046-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                               | City of New York NY                                                     | CUSIP: 64966MRB7<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   8000000 | PA      | $8702794.40   | 0.60%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Raymond James Financial Inc               | Raymond James Financial Inc                                             | CUSIP: 754730109<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EC               | CORP              | US        |     35874 | NS      | $4045510.98   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL             | NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTURE TAX SECURED REVENUE | CUSIP: 64971WGJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2172351.72   | 0.15%             | 2036-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WYANDOTTE CNTY/KANSAS CITY KS             | WYANDOTTE COUNTY-KANSAS CITY UNIFIED GOVERNMENT UTILITY SYSTEM REVENUE  | CUSIP: 982674KF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5127314.50   | 0.35%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| McKesson Corp                             | McKesson Corp                                                           | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |     10821 | NS      | $4097696.28   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| FOOTHILL ESTRN TRANSPRTN CORRI            | FOOTHILL E TRANSP-A                                                     | CUSIP: 345105HA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3097150.80   | 0.21%             | 2046-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| OHIO ST HOSP FAC REVENUE                  | STATE OF OHIO                                                           | CUSIP: 677561KK7<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   1430000 | PA      | $1599052.17   | 0.11%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                             | State of California                                                     | CUSIP: 13063DS82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1565000 | PA      | $1780426.32   | 0.12%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Costco Wholesale Corp                     | Costco Wholesale Corp                                                   | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |      7031 | NS      | $3593825.34   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| CALIFORNIA ST                             | STATE OF CALIFORNIA                                                     | CUSIP: 13063CGC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2036133.40   | 0.14%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX CULTURAL EDU FA            | Harris County Cultural Education Facilities Finance Corp                | CUSIP: 414009RU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2702595.78   | 0.18%             | 2049-07-01      | Variable      | 2.51%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP R            | Tobacco Settlement Financing Corp/RI                                    | CUSIP: 888809BG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4529379.15   | 0.31%             | 2050-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HLTH FACS AUTH REVENU            | Idaho Health Facilities Authority                                       | CUSIP: 451295A74<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1572018.80   | 0.11%             | 2039-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| TJX Cos Inc/The                           | TJX Cos Inc/The                                                         | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |     34157 | NS      | $2796092.02   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO IL BRD OF EDU                     | Chicago Board of Education                                              | CUSIP: 167505XP6<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1027178.10   | 0.07%             | 2038-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                               | City of New York NY                                                     | CUSIP: 64966QL57<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1697032.65   | 0.12%             | 2047-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES            | New York State Dormitory Authority                                      | CUSIP: 64990GXY3<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2260000 | PA      | $2230031.50   | 0.15%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALLEN CNTY OH HOSP FACS REVENU            | County of Allen OH Hospital Facilities Revenue                          | CUSIP: 01757LGX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1983078.20   | 0.14%             | 2040-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND CNTY PA MUNI AUTH              | Cumberland County Municipal Authority                                   | CUSIP: 230614RZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $576757.83    | 0.04%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET NASHVILLE TN ARPT AUTH ARP            | Metropolitan Nashville Airport Authority/The                            | CUSIP: 592190QD7<br>LEI: 549300IC0HNF8TDXEE63 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1687680.15   | 0.12%             | 2047-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TX PUB FACS CORP L            | San Antonio Public Facilities Corp                                      | CUSIP: 796334BK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1610000 | PA      | $1947237.36   | 0.13%             | 2033-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FUND LTD            | Michigan Strategic Fund                                                 | CUSIP: 59469C4Y6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6220000 | PA      | $6220000.00   | 0.43%             | 2033-12-01      | Variable      | 1.20%                 | 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        |   2000000 | PA      | $2186396.60   | 0.15%             | 2034-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE RIVER PA JT TOLL BRID            | DELAWARE RIVER JOINT TOLL BRIDGE COMMISSION                             | CUSIP: 246343LL9<br>LEI: 549300N6IGAQMI0JLE23 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5238244.50   | 0.36%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NIKE Inc                                  | NIKE Inc                                                                | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |     15428 | NS      | $1964447.24   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| WAYNE CNTY MI ARPT AUTH REVENU            | WAYNE COUNTY AIRPORT AUTHORITY                                          | CUSIP: 944514NL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2700000 | PA      | $2704171.77   | 0.18%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST HLTH FACS FING A            | CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY                        | CUSIP: 13033L4N4<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2024370.60   | 0.14%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN AUTH IN WSTWTR UTI            | INDIANA FINANCE AUTHORITY                                               | CUSIP: 45505MDG8<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4133742.80   | 0.28%             | 2039-10-01      | Fixed         | 5.00%                 | 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        |     70000 | PA      | $74909.64     | 0.01%             | 2040-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TEXAS WTR DEV BRD ST WTR IMPLE            | Texas Water Development Board                                           | CUSIP: 88285ABH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1688158.95   | 0.12%             | 2047-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INTERMOUNTAIN PWR AGY UT PWR S            | Intermountain Power Agency                                              | CUSIP: 45884AC27<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3990000 | PA      | $4447828.16   | 0.30%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group Inc/The               | Goldman Sachs Group Inc/The                                             | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |     10275 | NS      | $3758697.75   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Waste Management Inc                      | Waste Management Inc                                                    | CUSIP: 94106L109<br>LEI: 549300YX8JIID70NFS41 | Long             | EC               | CORP              | US        |     32534 | NS      | $5033985.82   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| MUSKINGUM CNTY OH HOSP FACS               | COUNTY OF MUSKINGUM OH                                                  | CUSIP: 628077CU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2060000 | PA      | $2061343.53   | 0.14%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hershey Co/The                            | Hershey Co/The                                                          | CUSIP: 427866108<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | EC               | CORP              | US        |     14583 | NS      | $3275341.80   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO IL TRANSIT AUTH SALES             | Chicago Transit Authority Sales Tax Receipts Fund                       | CUSIP: 16772PCB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1407602.64   | 0.10%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cummins Inc                               | Cummins Inc                                                             | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |     11520 | NS      | $2874700.80   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| PENNSYLVANIA ST UNIV                      | Pennsylvania State University/The                                       | CUSIP: 709235W50<br>LEI: 549300QDK4O4XCJ47X56 | Long             | DBT              | MUN               | US        |   4240000 | PA      | $4715122.10   | 0.32%             | 2047-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TULSA CNTY OK INDL AUTH SENIOR            | TULSA COUNTY INDUSTRIAL AUTHORITY                                       | CUSIP: 899530AY5<br>LEI: 549300WEYXBXLGN1E271 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1276383.50   | 0.09%             | 2037-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Amazon.com Inc                            | Amazon.com Inc                                                          | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     91360 | NS      | $9421956.80   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| SAN ANTONIO TX ELEC & GAS REVE            | CITY OF SAN ANTONIO TX ELECTRIC & GAS SYSTEMS REVENUE                   | CUSIP: 7962534U3<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3232785.00   | 0.22%             | 2032-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BROWARD CNTY FL CONVENTION CTR            | County of Broward FL Convention Center Hotel Revenue                    | CUSIP: 115012AT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4465000 | PA      | $4462398.69   | 0.31%             | 2051-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE NC ARPT REVENUE                 | CITY OF CHARLOTTE NC AIRPORT REVENUE                                    | CUSIP: 161036MH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1322667.63   | 0.09%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREENEVILLE TN HLTH & EDUCTNL             | GREENEVILLE HEALTH & EDUCATIONAL FACILITIES BOARD                       | CUSIP: 396649EW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6105000 | PA      | $5987011.11   | 0.41%             | 2040-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Sanofi                                    | Sanofi                                                                  | CUSIP: 000000000<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |     16639 | NS      | $1635052.42   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| TotalEnergies SE                          | TotalEnergies SE                                                        | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |     25385 | NS      | $1577095.32   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| GREEN LAKE TWP MI ECON DEV COR            | Green Lake Township Economic Development Corp                           | CUSIP: 393096AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1550000.00   | 0.11%             | 2034-06-01      | Variable      | 1.10%                 | No            |                  2 | On Loan: No      |
| Verizon Communications Inc                | Verizon Communications Inc                                              | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |     67749 | NS      | $2816325.93   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| DIST OF COLUMBIA REVENUE                  | DISTRICT OF COLUMBIA                                                    | CUSIP: 25483VSE5<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    500000 | PA      | $465419.35    | 0.03%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc                    | UnitedHealth Group Inc                                                  | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |     22045 | NS      | $11004643.55  | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| UNIV OF UTAH UT REVENUES                  | University of Utah/The                                                  | CUSIP: 915183Z75<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1755000 | PA      | $2055100.26   | 0.14%             | 2037-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Parker-Hannifin Corp                      | Parker-Hannifin Corp                                                    | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |     13331 | NS      | $4345906.00   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| ILLINOIS ST TOLL HIGHWAY AUTH             | Illinois State Toll Highway Authority                                   | CUSIP: 452252PY9<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |   2335000 | PA      | $2303694.19   | 0.16%             | 2046-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Coca-Cola Co/The                          | Coca-Cola Co/The                                                        | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |    130253 | NS      | $7987113.96   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| WASHINGTON ST                             | WASHINGTON ST-B-FUEL                                                    | CUSIP: 93974D5F1<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   1825000 | PA      | $2002728.54   | 0.14%             | 2039-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL                                | City of Chicago IL                                                      | CUSIP: 167486P45<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3493930.05   | 0.24%             | 2038-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU                     | Chicago Board of Education                                              | CUSIP: 167505XQ4<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023075.00   | 0.07%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HGR EDUCTNL FA            | PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY                    | CUSIP: 70917SNU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5076854.00   | 0.35%             | 2045-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST SPL TAX OBLIG R            | State of Connecticut Special Tax Revenue                                | CUSIP: 207758YG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3417075.90   | 0.23%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENNESSEE ST ENERGY ACQUISITIO            | TENNESSEE ENERGY ACQUISITION CORP                                       | CUSIP: 880443BQ8<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |   1280000 | PA      | $1291016.19   | 0.09%             | 2023-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Apple Inc                                 | Apple Inc                                                               | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    127949 | NS      | $18461761.21  | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| DIST OF COLUMBIA REVENUE                  | DISTRICT OF COLUMBIA                                                    | CUSIP: 25483VSF2<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $899941.60    | 0.06%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NVIDIA Corp                               | NVIDIA Corp                                                             | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     13913 | NS      | $2718182.81   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| CALIFORNIA ST UNIV REVENUE                | California State University                                             | CUSIP: 13077DPA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     65000 | PA      | $68069.60     | 0.00%             | 2039-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO ST HOSP EQUIPMENT L            | NEW MEXICO HOSPITAL EQUIPMENT LOAN COUNCIL                              | CUSIP: 647370HX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2175000 | PA      | $2291294.86   | 0.16%             | 2046-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freeport-McMoRan Inc                      | Freeport-McMoRan Inc                                                    | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |     72767 | NS      | $3246863.54   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ARIZONA BRD OF RGTS UNIV ARIZO            | University of Arizona/The                                               | CUSIP: 040484ZZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2261841.60   | 0.15%             | 2040-06-01      | 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        |   5485000 | PA      | $5538186.40   | 0.38%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HLTH FACS AUTH REVENU            | Idaho Health Facilities Authority                                       | CUSIP: 451295A90<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |   2020000 | PA      | $1452707.64   | 0.10%             | 2056-10-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA            | CHICAGO O'HARE INTERNATIONAL AIRPORT                                    | CUSIP: 167593UT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    305000 | PA      | $317152.51    | 0.02%             | 2041-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                               | State of Illinois                                                       | CUSIP: 452152Y70<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3590611.50   | 0.25%             | 2042-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ConocoPhillips                            | ConocoPhillips                                                          | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     65022 | NS      | $7924231.14   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| BUILD NYC RESOURCE CORP NY REV            | Build NYC Resource Corp                                                 | CUSIP: 12008ETY2<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |   2860000 | PA      | $2989656.38   | 0.20%             | 2057-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Walmart Inc                               | Walmart Inc                                                             | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     55786 | NS      | $8025931.82   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| DIST OF COLUMBIA REVENUE                  | District of Columbia                                                    | CUSIP: 25483VVQ4<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1140000 | PA      | $1149323.49   | 0.08%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  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      | $997859.80    | 0.07%             | 2050-08-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| HAMILTON CNTY OH HLTH CARE REV            | COUNTY OF HAMILTON OH                                                   | CUSIP: 40727RBU1<br>LEI: 549300TO1E3N4E4YIO28 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $917055.50    | 0.06%             | 2051-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLLIER CNTY FLA INDL DEV AUTH            | COLLIER CO DEV-A                                                        | CUSIP: 194638AD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4300000 | PA      | $2494000.00   | 0.17%             | 2044-05-15      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| CALIFORNIA PUBLIC FIN AUTH SEN            | California Public Finance Authority                                     | CUSIP: 13057GAD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $216538.45    | 0.01%             | 2056-11-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| VIRGINIA ST CLG BLDG AUTH EDUC            | Virginia College Building Authority                                     | CUSIP: 92778WGL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7385000 | PA      | $8441620.69   | 0.58%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STWD CMNTYS DEV AUT            | California Statewide Communities Development Authority                  | CUSIP: 13080SMK7<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   2765000 | PA      | $2694042.63   | 0.18%             | 2046-12-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| TARRANT CNTY TX CULTURAL EDU F            | Tarrant County Cultural Education Facilities Finance Corp               | CUSIP: 87638QRZ4<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002688.20   | 0.07%             | 2042-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST FIN AUTH REVENUE              | MICHIGAN FINANCE AUTHORITY                                              | CUSIP: 59447PD32<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1178926.18   | 0.08%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUILD NYC RESOURCE CORP NY REV            | Build NYC Resource Corp                                                 | CUSIP: 12008ETX4<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1052984.20   | 0.07%             | 2052-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP N            | Tobacco Settlement Financing Corp                                       | CUSIP: 888808HR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1567148.85   | 0.11%             | 2046-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COLORADO SPRINGS CO UTILITIES             | CITY OF COLORADO SPRINGS CO UTILITIES SYSTEM REVENUE                    | CUSIP: 196632VA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5170000 | PA      | $5336091.42   | 0.36%             | 2044-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA PUBLIC FIN AUTH SEN            | California Public Finance Authority                                     | CUSIP: 13057GAC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $220561.13    | 0.02%             | 2051-11-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL             | Metropolitan Pier & Exposition Authority                                | CUSIP: 592250BK9<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   4400000 | PA      | $4419323.04   | 0.30%             | 2053-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST MUNI GAS ACQUISITION             | TEXAS MUNICIPAL GAS ACQUISITION & SUPPLY CORP I                         | CUSIP: 88256CAT6<br>LEI: 6AZ7FRSNC3ZFPM0Z8L86 | Long             | DBT              | MUN               | US        |   2965000 | PA      | $3164770.43   | 0.22%             | 2026-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN             | NEW HOPE CULTURAL EDUCATION FACILITIES FINANCE CORP                     | CUSIP: 64542UCT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $344738.13    | 0.02%             | 2036-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GEORGIA ST PORTS AUTH                     | Georgia Ports Authority                                                 | CUSIP: 373586HV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4135000 | PA      | $4091682.15   | 0.28%             | 2052-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST PWR AUTH GREEN TRA            | New York Power Authority                                                | CUSIP: 65000XAW0<br>LEI: I5P1GEYFGGMMDOFX2L30 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1478646.90   | 0.10%             | 2052-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST THRUWAY AUTH GEN R            | New York State Thruway Authority                                        | CUSIP: 650010CJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4888553.50   | 0.33%             | 2045-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU                     | Chicago Board of Education                                              | CUSIP: 167505TK2<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2005816.80   | 0.14%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA REVENUE                  | DISTRICT OF COLUMBIA                                                    | CUSIP: 25483VPF5<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    525000 | PA      | $532418.67    | 0.04%             | 2048-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                               | State of Illinois                                                       | CUSIP: 4521522J9<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4261198.80   | 0.29%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GEORGIA ST PORTS AUTH                     | Georgia Ports Authority                                                 | CUSIP: 373586HW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1140915.70   | 0.08%             | 2052-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UNIV OF TEXAS TX PERMANENT UNI            | Permanent University Fund - University of Texas System                  | CUSIP: 9151158T9<br>LEI: 549300GZUEUTLKVGLF98 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5759723.00   | 0.39%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST SMALL BUSINESS FIN            | Virginia Small Business Financing Authority                             | CUSIP: 928105BZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2391441.25   | 0.16%             | 2049-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                              | Broadcom Inc                                                            | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      9970 | NS      | $5832549.70   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE             | Metropolitan Transportation Authority                                   | CUSIP: 59259YX20<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1605000 | PA      | $1611791.08   | 0.11%             | 2044-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL AVIATION RE            | County of Miami-Dade FL Aviation Revenue                                | CUSIP: 59333P5Z7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    620000 | PA      | $618558.00    | 0.04%             | 2041-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV            | Colorado Health Facilities Authority                                    | CUSIP: 19648FJE5<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   2815000 | PA      | $2755090.89   | 0.19%             | 2043-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAINT JOHNS CNTY FL INDL DEV A            | St Johns County Industrial Development Authority                        | CUSIP: 79041LAP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $573462.53    | 0.04%             | 2046-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTH OF NEW YORK & NEW JE            | Port Authority of New York & New Jersey                                 | CUSIP: 73358WZH0<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   5335000 | PA      | $5597269.67   | 0.38%             | 2041-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Avantor Inc                               | Avantor Inc                                                             | CUSIP: 05352A100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     80395 | NS      | $1921440.50   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co/The                   | Procter & Gamble Co/The                                                 | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     29769 | NS      | $4238510.22   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| CALIFORNIA ST UNIV REVENUE                | CALIFORNIA STATE UNIVERSITY                                             | CUSIP: 13077CY99<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3550000 | PA      | $3828975.69   | 0.26%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N TX TOLLWAY AUTH REVENUE                 | NORTH TEXAS TOLLWAY AUTHORITY                                           | CUSIP: 66285WLT1<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3063625.80   | 0.21%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI            | WASHINGTON STATE HOUSING FINANCE COMMISSION                             | CUSIP: 939783TG1<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1405609.50   | 0.10%             | 2031-01-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| MKS Instruments Inc                       | MKS Instruments Inc                                                     | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |     30519 | NS      | $3122704.08   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLEN CNTY OH HOSP FACS REVENU            | County of Allen OH Hospital Facilities Revenue                          | CUSIP: 01757LDW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2500000.00   | 0.17%             | 2034-06-01      | Variable      | 1.08%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST                            | State of Connecticut                                                    | CUSIP: 20772KJB6<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |   3380000 | PA      | $3477855.39   | 0.24%             | 2038-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| McDonald's Corp                           | McDonald's Corp                                                         | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |     15195 | NS      | $4063143.00   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE              | Illinois Finance Authority                                              | CUSIP: 45204FTB1<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5351671.50   | 0.37%             | 2052-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Exxon Mobil Corp                          | Exxon Mobil Corp                                                        | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    123190 | NS      | $14291271.90  | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| NORTH CAROLINA ST MUNI PWR AGY            | NORTH CAROLINA MUNICIPAL POWER AGENCY NO 1                              | CUSIP: 658203X41<br>LEI: 549300N3Q65G1ODRFX75 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1603264.05   | 0.11%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT LOUIS MO ARPT REVENUE               | CITY OF ST LOUIS MO AIRPORT REVENUE                                     | CUSIP: 791638F87<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1320052.50   | 0.09%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Meta Platforms Inc                        | Meta Platforms Inc                                                      | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     13577 | NS      | $2022565.69   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                              | Alphabet Inc                                                            | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    142800 | NS      | $14114352.00  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| PENNSYLVANIA ST HGR EDUCTNL FA            | PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY                    | CUSIP: 70917SS87<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2360929.28   | 0.16%             | 2047-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER CITY & CNTY CO ARPT REV            | CITY & COUNTY OF DENVER CO AIRPORT SYSTEM REVENUE                       | CUSIP: 249182JJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2475000 | PA      | $2503534.77   | 0.17%             | 2043-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Linde PLC                                 | Linde PLC                                                               | CUSIP: 000000000<br>LEI: 8945002PAZHZLBGKGF02 | Long             | EC               | CORP              | GB        |     16968 | NS      | $5615389.92   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE             | METROPOLITAN TRANSPORTATION AUTHORITY                                   | CUSIP: 59259YW21<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010443.90   | 0.07%             | 2039-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DELAWARE ST ECON DEV AUTH RETM            | DELAWARE ST ECON DEV                                                    | CUSIP: 246371AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1985518.20   | 0.14%             | 2048-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST                               | State of Maryland                                                       | CUSIP: 574193VJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $6184909.00   | 0.42%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COOK CNTY IL SALES TAX REVENUE            | COUNTY OF COOK IL                                                       | CUSIP: 213248BH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5320054.50   | 0.36%             | 2037-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| M-S-R CA ENERGY AUTH GAS REVEN            | MSR ENERGY                                                              | CUSIP: 55374SAA8<br>LEI: 549300UEMSS1JTK5YB98 | Long             | DBT              | MUN               | US        |   1535000 | PA      | $1730612.11   | 0.12%             | 2029-11-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA ARPT REVENUE                   | City of Atlanta GA Department of Aviation                               | CUSIP: 04780MC80<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4441662.40   | 0.30%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Thermo Fisher Scientific Inc              | Thermo Fisher Scientific Inc                                            | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |     11687 | NS      | $6665446.71   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| CO HIGH PERFORMANCE TRANSPRTN             | Colorado High Performance Transportation Enterprise                     | CUSIP: 19648DAC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5880000 | PA      | $5800076.10   | 0.40%             | 2051-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA ST FIN AUTH SENIOR LIVING            | IOWA FINANCE AUTHORITY                                                  | CUSIP: 46247CBG3<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |    542361 | PA      | $566005.55    | 0.04%             | 2046-11-15      | Variable      | 5.40%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA ST EDUCTNL ENHANC            | EDUCATIONAL ENHANCEMENT FUNDING CORP                                    | CUSIP: 83754LAF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1008233.90   | 0.07%             | 2023-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Philip Morris International Inc           | Philip Morris International Inc                                         | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |     62148 | NS      | $6478307.52   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| MARICOPA CNTY AZ INDL DEV AUTH            | MARICOPA COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY                        | CUSIP: 56681NCN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2371670.53   | 0.16%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST FIN AUTH REVENUE              | MICHIGAN FINANCE AUTHORITY                                              | CUSIP: 59447TFG3<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2603994.75   | 0.18%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                       | JPMorgan Chase & Co                                                     | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     87537 | NS      | $12251678.52  | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| SAN DIEGO CNTY CA REGL ARPT AU            | San Diego County Regional Airport Authority                             | CUSIP: 79739GMY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1990000 | PA      | $1955637.08   | 0.13%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST MUNI PWR AGY                   | IN MUNI PWR AGY-A-RE 5.5                                                | CUSIP: 454898YB7<br>LEI: AX0ZCCVOQ71Z4RXBL233 | Long             | DBT              | MUN               | US        |   3735000 | PA      | $4244645.98   | 0.29%             | 2053-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Aptiv PLC                                 | Aptiv PLC                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |     30766 | NS      | $3479326.94   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| CONNECTICUT ST                            | State of Connecticut                                                    | CUSIP: 20772KLA5<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |    900000 | PA      | $946276.65    | 0.06%             | 2036-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH ST PERSO            | New York State Dormitory Authority                                      | CUSIP: 64990FK94<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   7280000 | PA      | $7397741.62   | 0.51%             | 2039-03-15      | 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        |   6630000 | PA      | $6321820.36   | 0.43%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA HGR EDU & H            | Montgomery County Higher Education and Health Authority                 | CUSIP: 613603F95<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $995141.40    | 0.07%             | 2041-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DECATUR TX HOSP AUTH                      | Decatur Hospital Authority                                              | CUSIP: 243323CA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    764000 | PA      | $646163.85    | 0.04%             | 2044-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FINC            | TARRANT COUNTY CULTURAL EDUCATION FACILITIES FINANCE CORP               | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1528893 | PA      | $701822.43    | 0.05%             | 2061-11-15      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TURNPIKE AUTH TU            | NEW JERSEY TURNPIKE AUTHORITY                                           | CUSIP: 6461395V3<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4183402.40   | 0.29%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLEAR CREEK STATION MET DIST N            | CLEAR CREEK STATION METROPOLITAN DISTRICT NO 2                          | CUSIP: 184539AB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $949958.50    | 0.06%             | 2047-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI            | WASHINGTON STATE HOUSING FINANCE COMMISSION                             | CUSIP: 939783RY4<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2083535.00   | 0.14%             | 2044-01-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| INDIANA ST MUNI PWR AGY                   | INDIANA MUNICIPAL POWER AGENCY                                          | CUSIP: 454898SX6<br>LEI: AX0ZCCVOQ71Z4RXBL233 | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2781803.75   | 0.19%             | 2034-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| United Rentals Inc                        | United Rentals Inc                                                      | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |     10173 | NS      | $4485784.35   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTMINSTER MD PROJ REVENUE               | CITY OF WESTMINSTER MD                                                  | CUSIP: 960735AQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $607816.44    | 0.04%             | 2034-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TURNPIKE AUTH TU            | New Jersey Turnpike Authority                                           | CUSIP: 646140EU3<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3918559.05   | 0.27%             | 2052-01-01      | Fixed         | 5.25%                 | 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        |   4895000 | PA      | $4895000.00   | 0.33%             | 2045-09-01      | Variable      | 1.23%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE              | ILLINOIS FINANCE AUTHORITY                                              | CUSIP: 45203H8V7<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1560557.85   | 0.11%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Estee Lauder Cos Inc/The                  | Estee Lauder Cos Inc/The                                                | CUSIP: 518439104<br>LEI: 549300VFZ8XJ9NUPU221 | Long             | EC               | CORP              | US        |     23107 | NS      | $6402487.56   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| ILLINOIS ST                               | STATE OF ILLINOIS                                                       | CUSIP: 452152TC5<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   6920000 | PA      | $6962972.51   | 0.48%             | 2038-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CA UNIF SCH DIST                | San Diego Unified School District/CA                                    | CUSIP: 797356GL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1080000 | PA      | $1129170.02   | 0.08%             | 2052-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUBLIC SVC A            | South Carolina Public Service Authority                                 | CUSIP: 837151XC8<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1470884.85   | 0.10%             | 2042-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CLIFTON TX HGR EDU FIN CORP ED            | CLIFTON HIGHER EDUCATION FINANCE CORP                                   | CUSIP: 187145BZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1080000 | PA      | $1098088.16   | 0.08%             | 2033-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Valero Energy Corp                        | Valero Energy Corp                                                      | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |     31740 | NS      | $4444552.20   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| WISCONSIN ST HLTH & EDUCTNL FA            | WISCONSIN HEALTH & EDUCATIONAL FACILITIES AUTHORITY                     | CUSIP: 97712DHN9<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   2450000 | PA      | $2532526.78   | 0.17%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Union Pacific Corp                        | Union Pacific Corp                                                      | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     13004 | NS      | $2655286.76   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Vulcan Materials Co                       | Vulcan Materials Co                                                     | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |     26155 | NS      | $4794996.15   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL             | Metropolitan Pier & Exposition Authority                                | CUSIP: 592250EX8<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1807543.00   | 0.12%             | 2047-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                      | Bank of America Corp                                                    | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |    378471 | NS      | $13428151.08  | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV            | COLORADO HEALTH FACILITIES AUTHORITY                                    | CUSIP: 19648FAZ7<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    250000 | PA      | $229277.53    | 0.02%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST URBAN DEV CORP REV            | NEW YORK STATE URBAN DEVELOPMENT CORP                                   | CUSIP: 6500354F2<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5553885.00   | 0.38%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRL TX REGL MOBILITY AUTH R            | Central Texas Regional Mobility Authority                               | CUSIP: 155498LX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1933492.20   | 0.13%             | 2051-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MATCHING FUND SPL PURPOSE SECU            | Matching Fund Special Purpose Securitization Corp                       | CUSIP: 57665NAG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1960000 | PA      | $1957625.26   | 0.13%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Intel Corp                                | Intel Corp                                                              | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |    112265 | NS      | $3172608.90   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| UNIV OF CINCINNATI OH RECPTS              | UNIVERSITY OF CINCINNATI                                                | CUSIP: 914119YN6<br>LEI: 549300E0RD3ICJ858L23 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1532386.50   | 0.10%             | 2039-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                               | State of Illinois                                                       | CUSIP: 452152Q20<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   4320000 | PA      | $4633558.13   | 0.32%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH NY BRIDGE & TUNNEL             | Triborough Bridge & Tunnel Authority                                    | CUSIP: 89602RHS7<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4896350.00   | 0.33%             | 2052-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTHAMPTON CNTY PA GEN PURPOS            | Northampton County General Purpose Authority                            | CUSIP: 66353LDK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1290000 | PA      | $1363711.63   | 0.09%             | 2047-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Walt Disney Co/The                        | Walt Disney Co/The                                                      | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |     35081 | NS      | $3805937.69   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| CHARLOTTE NC ARPT REVENUE                 | City of Charlotte NC Airport Revenue                                    | CUSIP: 161036TS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4930707.50   | 0.34%             | 2052-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| General Motors Co                         | General Motors Co                                                       | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |    145449 | NS      | $5719054.68   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| ARISTA CO MET DIST                        | ARISTA MET DIST-A                                                       | CUSIP: 04041AAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $948753.00    | 0.06%             | 2048-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CHULA VISTA CA MUNI FING AUTH             | CHULA VISTA MUNICIPAL FINANCING AUTHORITY                               | CUSIP: 17131CAQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2935000 | PA      | $2990224.37   | 0.20%             | 2028-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N TX TOLLWAY AUTH REVENUE                 | NORTH TEXAS TOLLWAY AUTHORITY                                           | CUSIP: 66285WPR1<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |    915000 | PA      | $937286.47    | 0.06%             | 2045-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA WTR & WSTWTR REVENU            | City of Atlanta GA Water & Wastewater Revenue                           | CUSIP: 047870RD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2802335.25   | 0.19%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLUMBIA AL INDL DEV BRD POLLC            | Columbia Industrial Development Board                                   | CUSIP: 197210AZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  17800000 | PA      | $17800000.00  | 1.22%             | 2037-12-01      | Variable      | 1.25%                 | No            |                  2 | On Loan: No      |
| MUNI ELEC AUTH OF GEORGIA                 | Municipal Electric Authority of Georgia                                 | CUSIP: 626207H23<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |   3940000 | PA      | $3977314.56   | 0.27%             | 2060-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chubb Ltd                                 | Chubb Ltd                                                               | CUSIP: 000000000<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               | CORP              | CH        |     27907 | NS      | $6348563.43   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| PayPal Holdings Inc                       | PayPal Holdings Inc                                                     | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |     29952 | NS      | $2440788.48   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| MICHIGAN ST FIN AUTH REVENUE              | MICHIGAN FINANCE AUTHORITY                                              | CUSIP: 59447PYT2<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4027045.20   | 0.28%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST HOSP REVENUE                      | STATE OF OHIO                                                           | CUSIP: 67756CCU0<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1153573.88   | 0.08%             | 2041-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH EDU R            | ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY                                | CUSIP: 04052BEU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1225000 | PA      | $1262513.54   | 0.09%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX AZ INDL DEV AUTH EDU R            | INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF PHOENIX/THE             | CUSIP: 71885FDJ3<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3051450.00   | 0.21%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA                                | City of Atlanta GA                                                      | CUSIP: 047772K31<br>LEI: 549300GHLQ0J51NUBM84 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3494414.70   | 0.24%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN AUTH IN WSTWTR UTI            | INDIANA FIN AUTH-B 5.25 0                                               | CUSIP: 45505MNG7<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5556527.00   | 0.38%             | 2047-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Schlumberger Ltd                          | Schlumberger NV                                                         | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |     65292 | NS      | $3720338.16   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| DENVER CITY & CNTY CO                     | City & County of Denver CO                                              | CUSIP: 249164RQ9<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   7080000 | PA      | $8256581.30   | 0.56%             | 2039-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST             | New Jersey Transportation Trust Fund Authority                          | CUSIP: 64613CAT5<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5669253.50   | 0.39%             | 2035-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LPL Financial Holdings Inc                | LPL Financial Holdings Inc                                              | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |     12562 | NS      | $2978701.44   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| SAN ANTONIO TX INDEP SCH DIST             | San Antonio Independent School District/TX                              | CUSIP: 796269M88<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3570000 | PA      | $3976088.93   | 0.27%             | 2052-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH RE            | New Jersey Economic Development Authority                               | CUSIP: 64577XAF3<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1245000 | PA      | $1274781.65   | 0.09%             | 2040-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH NY BRIDGE & TUNNEL             | Triborough Bridge & Tunnel Authority                                    | CUSIP: 89602HFH5<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2364250.20   | 0.16%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEE CNTY FL INDL DEV AUTH HLTH            | Lee County Industrial Development Authority/FL                          | CUSIP: 52349EEK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1055000 | PA      | $947206.96    | 0.06%             | 2052-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND CNTY PA MUNI AUTH              | Cumberland County Municipal Authority                                   | CUSIP: 230614QR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $136324.58    | 0.01%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL             | New York City Transitional Finance Authority Future Tax Secured Revenue | CUSIP: 64971XG69<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1562966.72   | 0.11%             | 2048-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CNTY CA REGL ARPT AU            | San Diego County Regional Airport Authority                             | CUSIP: 79739GMX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3940000 | PA      | $3905355.58   | 0.27%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALLEN CNTY OH HOSP FACS REVENU            | County of Allen OH Hospital Facilities Revenue                          | CUSIP: 01757LGF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3856989.60   | 0.26%             | 2047-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CORONA-NORCO CA UNIF SCH DIST             | CORONA-NORCO UNIFIED SCHOOL DISTRICT                                    | CUSIP: 219766LD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $507755.25    | 0.03%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DR Horton Inc                             | DR HORTON INC                                                           | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | EC               | CORP              | US        |     31999 | NS      | $3157981.31   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Co                   | Bristol-Myers Squibb Co                                                 | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |     34376 | NS      | $2497416.40   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Pioneer Natural Resources Co              | Pioneer Natural Resources Co                                            | CUSIP: 723787107<br>LEI: FY8JBF7CCL2VE4F1B628 | Long             | EC               | CORP              | US        |      6305 | NS      | $1452356.75   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| ILLINOIS ST                               | State of Illinois                                                       | CUSIP: 452153CC1<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3878520.40   | 0.27%             | 2038-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Allstate Corp/The                         | Allstate Corp/The                                                       | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |     62380 | NS      | $8013958.60   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE             | METROPOLITAN TRANSPORTATION AUTHORITY                                   | CUSIP: 59259YE54<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   3305000 | PA      | $3305820.96   | 0.23%             | 2042-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HLTH & EDUCTNL FAC            | HEALTH & EDUCATIONAL FACILITIES AUTHORITY OF THE STATE OF MISSOURI      | CUSIP: 60637AFE7<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2523467.75   | 0.17%             | 2044-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLUMBIA AL INDL DEV BRD POLL             | Columbia Industrial Development Board                                   | CUSIP: 197210AX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7800000 | PA      | $7800000.00   | 0.53%             | 2037-12-01      | Variable      | 1.25%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX UTILITY SYS REVENUE            | CITY OF HOUSTON TX COMBINED UTILITY SYSTEM REVENUE                      | CUSIP: 4424355Y5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2058274.40   | 0.14%             | 2044-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA ST FIN AUTH MIDWSTRN DISA            | Iowa Finance Authority                                                  | CUSIP: 46246SAU9<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   3570000 | PA      | $3586278.84   | 0.25%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA MUNI GAS AGY COMMODI            | Minnesota Municipal Gas Agency                                          | CUSIP: 60406UAN7<br>LEI: 549300SISI6N1C6S3136 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4892755.50   | 0.33%             | 2052-12-01      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| Analog Devices Inc                        | Analog Devices Inc                                                      | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |     17465 | NS      | $2994723.55   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| PHOENIX AZ CIVIC IMPT CORP ARP            | City of Phoenix Civic Improvement Corp                                  | CUSIP: 71883MPB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2682026.00   | 0.18%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR            | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  16425000 | PA      | $16182709.90  | 1.11%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF CALIFORNIA CA REVENUES            | University of California                                                | CUSIP: 91412G2G9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2440000 | PA      | $2683301.67   | 0.18%             | 2036-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Vodafone Group PLC                        | Vodafone Group PLC                                                      | CUSIP: 000000000<br>LEI: 213800TB53ELEUKM7Q61 | Long             | EC               | CORP              | GB        |   2846779 | NS      | $3279640.39   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST TRANSPRTN FUN            | Commonwealth of Massachusetts Transportation Fund Revenue               | CUSIP: 57604TKD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5575038.00   | 0.38%             | 2052-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                               | STATE OF ILLINOIS                                                       | CUSIP: 452152RU7<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1502615.10   | 0.10%             | 2035-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southern Co/The                           | Southern Co/The                                                         | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |     93837 | NS      | $6350888.16   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| CUMBERLAND CNTY PA MUNI AUTH              | Cumberland County Municipal Authority                                   | CUSIP: 230614SL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $681836.60    | 0.05%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SEATTLE WA MUNI LIGHT & PWR RE            | City of Seattle WA Municipal Light & Power Revenue                      | CUSIP: 812643RJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3465000 | PA      | $3710319.92   | 0.25%             | 2031-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLUMBIA AL INDL DEV BRD POLLC            | Columbia Industrial Development Board                                   | CUSIP: 197210BA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.07%             | 2037-12-01      | Variable      | 1.23%                 | No            |                  2 | On Loan: No      |
| COOK CNTY IL                              | County of Cook IL                                                       | CUSIP: 213185MY4<br>LEI: 5493004UMR7OX4YITE10 | Long             | DBT              | MUN               | US        |    750000 | PA      | $877591.50    | 0.06%             | 2033-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                  | AT&T Inc                                                                | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |    518218 | NS      | $10556100.66  | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Hartford Financial Services Group Inc/The | Hartford Financial Services Group Inc/The                               | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |    103803 | NS      | $8056150.83   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO IL MET WTR RECLAMATION            | Metropolitan Water Reclamation District of Greater Chicago              | CUSIP: 167560VE8<br>LEI: 254900GOGQEZEWCZ4D37 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2429592.75   | 0.17%             | 2046-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Netflix Inc                               | Netflix Inc                                                             | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      8731 | NS      | $3089551.66   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| CALIFORNIA STWD CMNTYS DEV AUT            | CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY                  | CUSIP: 13080SDC5<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   1125000 | PA      | $968207.40    | 0.07%             | 2044-11-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL             | PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT                       | CUSIP: 717824AL0<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    405000 | PA      | $413870.23    | 0.03%             | 2035-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH NATIO            | Arizona Industrial Development Authority                                | CUSIP: 04052FBV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1351311.00   | 0.09%             | 2050-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BREVARD CNTY FL HLTH FACS AUTH            | Brevard County Health Facilities Authority                              | CUSIP: 107416QL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3236675.70   | 0.22%             | 2042-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST ECON DEV CORP ECON            | MARYLAND ECONOMIC DEVELOPMENT CORP                                      | CUSIP: 57420NBY6<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |    270000 | PA      | $291692.64    | 0.02%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COOK CNTY IL                              | County of Cook IL                                                       | CUSIP: 213185MX6<br>LEI: 5493004UMR7OX4YITE10 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1140019.30   | 0.08%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TX ELEC & GAS REVE            | CITY OF SAN ANTONIO TX ELECTRIC & GAS SYSTEMS REVENUE                   | CUSIP: 7962534A7<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |    750000 | PA      | $809807.25    | 0.06%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BROWARD CNTY FL TOURIST DEV TA            | County of Broward FL Tourist Development Tax Revenue                    | CUSIP: 115085AW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4857654.50   | 0.33%             | 2047-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CORPUS CHRISTI TX UTILITY SYSR            | CITY OF CORPUS CHRISTI TX UTILITY SYSTEM REVENUE                        | CUSIP: 220245VS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3135257.70   | 0.21%             | 2040-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Inc                        | NextEra Energy Inc                                                      | CUSIP: 65339F101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    166916 | NS      | $12456941.08  | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| MASSACHUSETTS ST                          | Commonwealth of Massachusetts                                           | CUSIP: 57582RY42<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5698237.00   | 0.39%             | 2052-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Visa Inc                                  | Visa Inc                                                                | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     27363 | NS      | $6299236.23   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLEGHENY CNTY PA SAN AUTH                | Allegheny County Sanitary Authority                                     | CUSIP: 017357N67<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4705390.00   | 0.32%             | 2047-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MP Materials Corp                         | MP Materials Corp                                                       | CUSIP: 553368101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    107784 | NS      | $3504057.84   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| SAN DIEGO CA PUBLIC FACS FING             | San Diego Public Facilities Financing Authority                         | CUSIP: 79730AKY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3570000 | PA      | $4014996.93   | 0.27%             | 2052-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LyondellBasell Industries NV              | LyondellBasell Industries NV                                            | CUSIP: 000000000<br>LEI: BN6WCCZ8OVP3ITUUVN49 | Long             | EC               | CORP              | US        |     14699 | NS      | $1421246.31   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Wendy's Co/The                            | Wendy's Co/The                                                          | CUSIP: 95058W100<br>LEI: 529900M0JIUCMWVKHG76 | Long             | EC               | CORP              | US        |    125552 | NS      | $2799809.60   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| DETROIT MI                                | City of Detroit MI                                                      | CUSIP: 2510934Q0<br>LEI: 549300BQRJP7MKKHOY28 | Long             | DBT              | MUN               | US        |    970000 | PA      | $998351.84    | 0.07%             | 2050-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST             | New Jersey Transportation Trust Fund Authority                          | CUSIP: 64613CCK2<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2128432.80   | 0.15%             | 2048-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Burberry Group PLC                        | Burberry Group PLC                                                      | CUSIP: 000000000<br>LEI: 213800PE1KEFCNFR1R50 | Long             | EC               | CORP              | GB        |     37088 | NS      | $1128049.39   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| ATLANTA GA WTR & WSTWTR REVENU            | CITY OF ATLANTA GA WATER & WASTEWATER REVENUE                           | CUSIP: 047870NE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6241785.00   | 0.43%             | 2040-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| M-S-R CA ENERGY AUTH GAS REVEN            | MSR ENERGY                                                              | CUSIP: 55374SAJ9<br>LEI: 549300UEMSS1JTK5YB98 | Long             | DBT              | MUN               | US        |   4670000 | PA      | $5862619.00   | 0.40%             | 2039-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Johnson Controls International plc        | Johnson Controls International plc                                      | CUSIP: 000000000<br>LEI: 549300XQ6S1GYKGBL205 | Long             | EC               | CORP              | US        |     57515 | NS      | $4001318.55   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co                          | Wells Fargo & Co                                                        | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |    229819 | NS      | $10771616.53  | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| GEORGIA ST                                | State of Georgia                                                        | CUSIP: 373385KR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4174100.00   | 0.29%             | 2042-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N TX TOLLWAY AUTH REVENUE                 | North Texas Tollway Authority                                           | CUSIP: 66285WYA8<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |   1430000 | PA      | $1423386.97   | 0.10%             | 2049-01-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Motorola Solutions Inc                    | Motorola Solutions Inc                                                  | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |     15723 | NS      | $4040968.23   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| DIST OF COLUMBIA                          | District of Columbia                                                    | CUSIP: 25476FXV5<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   6090000 | PA      | $6701923.20   | 0.46%             | 2044-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF WTR & P            | Los Angeles Department of Water & Power                                 | CUSIP: 544532FW9<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   2055000 | PA      | $2297380.67   | 0.16%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Becton Dickinson and Co                   | Becton Dickinson and Co                                                 | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |      6545 | NS      | $1650779.90   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| MIAMI-DADE CNTY FL SEAPORT REV            | COUNTY OF MIAMI-DADE SEAPORT DEPARTMENT                                 | CUSIP: 59335KAR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1635445.28   | 0.11%             | 2032-10-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CLIFTON TX HGR EDU FIN CORP ED            | CLIFTON HIGHER EDUCATION FINANCE CORP                                   | CUSIP: 187145DE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3066982.50   | 0.21%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE             | Metropolitan Transportation Authority                                   | CUSIP: 59261ANE3<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1446894.26   | 0.10%             | 2024-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FUND LTD            | Michigan Strategic Fund                                                 | CUSIP: 594698DF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8900000 | PA      | $8900000.00   | 0.61%             | 2042-12-01      | Variable      | 1.10%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH NY BRIDGE & TUNNEL             | Triborough Bridge & Tunnel Authority                                    | CUSIP: 89602HBY2<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   1730000 | PA      | $1688831.88   | 0.12%             | 2051-05-15      | Fixed         | 4.00%                 | 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      | $1545152.80   | 0.11%             | 2051-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Constellation Brands Inc                  | Constellation Brands Inc                                                | CUSIP: 21036P108<br>LEI: 5493005GKEG8QCVY7037 | Long             | EC               | CORP              | US        |     12064 | NS      | $2793057.28   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| RIVERSIDE CNTY CA TRANSPRTN CO            | Riverside County Transportation Commission                              | CUSIP: 76912DBB3<br>LEI: 5493003G0IESJS57M350 | Long             | DBT              | MUN               | US        |    400000 | PA      | $388698.28    | 0.03%             | 2047-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST                             | STATE OF WASHINGTON                                                     | CUSIP: 93974D2P2<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7715730.40   | 0.53%             | 2036-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MOBILE AL INDL DEV BRD POLL CO            | Industrial Development Board of the City of Mobile Alabama              | CUSIP: 607167DY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 0.03%             | 2034-06-01      | Variable      | 1.25%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                               | STATE OF ILLINOIS                                                       | CUSIP: 452152Q61<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2880000 | PA      | $3071125.73   | 0.21%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Abbott Laboratories                       | Abbott Laboratories                                                     | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |     29654 | NS      | $3278249.70   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| N TX TOLLWAY AUTH REVENUE                 | North Texas Tollway Authority                                           | CUSIP: 66285WG67<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |    335000 | PA      | $332737.08    | 0.02%             | 2041-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-SAINT PAUL MN MET             | Minneapolis-St Paul Metropolitan Airports Commission                    | CUSIP: 603827H66<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1540000 | PA      | $1665120.38   | 0.11%             | 2052-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JB Hunt Transport Services Inc            | JB Hunt Transport Services Inc                                          | CUSIP: 445658107<br>LEI: 549300XCD1MPI1C5GK90 | Long             | EC               | CORP              | US        |     14349 | NS      | $2712678.45   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| MICHIGAN ST FIN AUTH REVENUE              | Michigan Finance Authority                                              | CUSIP: 59447T3W1<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1875000 | PA      | $1843793.25   | 0.13%             | 2047-04-15      | Variable      | 2.41%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL             | New York City Transitional Finance Authority Building Aid Revenue       | CUSIP: 64972HY48<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3412173.60   | 0.23%             | 2032-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL            | Rhode Island Health and Educational Building Corp                       | CUSIP: 762197J69<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $6232661.50   | 0.43%             | 2033-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV            | Colorado Health Facilities Authority                                    | CUSIP: 19648FJX3<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1747170.60   | 0.12%             | 2037-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                               | City of New York NY                                                     | CUSIP: 64966QVV9<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    300000 | PA      | $294774.72    | 0.02%             | 2047-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                               | State of Illinois                                                       | CUSIP: 452153AV1<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    540000 | PA      | $510001.49    | 0.03%             | 2041-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PUBLIC ENERGY AUTH            | Kentucky Public Energy Authority                                        | CUSIP: 74440DDT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5565000 | PA      | $5309712.86   | 0.36%             | 2052-08-01      | Variable      | 4.08%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA REVENUE                  | DISTRICT OF COLUMBIA                                                    | CUSIP: 25483VQX5<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1435000 | PA      | $1456542.36   | 0.10%             | 2041-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST TURNPIKE COMMISSION               | OHIO TURNPIKE & INFRASTRUCTURE COMMISSION                               | CUSIP: 67760HJS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1201175.04   | 0.08%             | 2030-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CenterPoint Energy Inc                    | CenterPoint Energy Inc                                                  | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | EC               | CORP              | US        |    389992 | NS      | $11746559.04  | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| DIST OF COLUMBIA INCOME TAX SE            | District of Columbia                                                    | CUSIP: 25477GUM5<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   5375000 | PA      | $6459692.20   | 0.44%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST                           | Commonwealth of Pennsylvania                                            | CUSIP: 70914PZ62<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5669817.00   | 0.39%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Salesforce Inc                            | salesforce.com Inc                                                      | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |     18089 | NS      | $3038409.33   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| CALIFORNIA SCH FIN AUTH SCH FA            | CALIFORNIA SCHOOL FINANCE AUTHORITY                                     | CUSIP: 13059TBZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1149645.25   | 0.08%             | 2045-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| KENTUCKY PUB TRANSPRTN INFRAST            | Kentucky Public Transportation Infrastructure Authority                 | CUSIP: 491397BA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1925000 | PA      | $1809798.76   | 0.12%             | 2053-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Stanley Black & Decker Inc                | Stanley Black & Decker Inc                                              | CUSIP: 854502101<br>LEI: 549300DJ09SMTO561131 | Long             | EC               | CORP              | US        |     31614 | NS      | $2823446.34   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| COLORADO ST EDUCTNL & CULTURAL            | COLORADO EDUCATIONAL & CULTURAL FACILITIES AUTHORITY                    | CUSIP: 19645RB34<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1548357.00   | 0.11%             | 2035-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| American International Group Inc          | American International Group Inc                                        | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |     87872 | NS      | $5555267.84   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| FAIRFAX CNTY VA WTR AUTH WTR R            | Fairfax County Water Authority                                          | CUSIP: 303891K38<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1805000 | PA      | $1815160.71   | 0.12%             | 2050-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL MIDWAY ARPT REVENUE            | CHICAGO MIDWAY INTERNATIONAL AIRPORT                                    | CUSIP: 167562PR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2030149.80   | 0.14%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LARAMIE CNTY WY HOSP REVENUE              | County of Laramie WY                                                    | CUSIP: 516706DL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $227730.22    | 0.02%             | 2038-05-01      | Fixed         | 4.00%                 | 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        |   4000000 | PA      | $2962584.40   | 0.20%             | 2050-02-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE              | ILLINOIS FINANCE AUTHORITY                                              | CUSIP: 45204EC55<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   2855000 | PA      | $1854600.29   | 0.13%             | 2054-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CA BAY AREA RAPI            | San Francisco Bay Area Rapid Transit District                           | CUSIP: 797661C86<br>LEI: 549300Y3C3QUMLE3FY58 | Long             | DBT              | MUN               | US        |   2420000 | PA      | $2775447.66   | 0.19%             | 2047-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA            | Chicago O'Hare International Airport                                    | CUSIP: 167593M58<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2109946.20   | 0.14%             | 2048-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY EDUCTNL CONST            | New York City Educational Construction Fund                             | CUSIP: 649670NN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2375000 | PA      | $2664737.41   | 0.18%             | 2037-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST             | New Jersey Transportation Trust Fund Authority                          | CUSIP: 64613CBM9<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    750000 | PA      | $720391.28    | 0.05%             | 2046-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RED RIVER TX HLTH FACS DEV COR            | RED RIVER HEALTH FACILITIES DEVELOPMENT CORP                            | CUSIP: 75687DAU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    835000 | PA      | $906717.15    | 0.06%             | 2034-11-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Microsoft Corp                            | Microsoft Corp                                                          | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     80271 | NS      | $19891956.51  | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| MICHIGAN ST FIN AUTH REVENUE              | Michigan Finance Authority                                              | CUSIP: 59447T3T8<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1426324.75   | 0.10%             | 2038-04-15      | 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        |   2500000 | PA      | $2495051.50   | 0.17%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GOLDEN ST TOBACCO SECURITIZATI            | Golden State Tobacco Securitization Corp                                | CUSIP: 38122ND90<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2650000 | PA      | $2816983.13   | 0.19%             | 2051-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF NORTH CAROLINA NC AT C            | University of North Carolina at Chapel Hill                             | CUSIP: 914713U34<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4545000 | PA      | $4557664.64   | 0.31%             | 2034-12-01      | Variable      | 3.53%                 | No            |                  2 | On Loan: No      |
| LOWER AL GAS DIST GAS PROJ REV            | Lower Alabama Gas District/The                                          | CUSIP: 547804AE4<br>LEI: 549300YTI1NTDG2OVU42 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2100026.60   | 0.14%             | 2046-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Starbucks Corp                            | Starbucks Corp                                                          | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |     22003 | NS      | $2401407.42   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| SHELBY CNTY TN HLTH EDUCTNL &H            | Shelby County Health Educational & Housing Facilities Board             | CUSIP: 821697K99<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3100000 | PA      | $3100000.00   | 0.21%             | 2042-06-01      | Variable      | 1.20%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE             | Metropolitan Transportation Authority                                   | CUSIP: 59261AB22<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2100000.00   | 0.14%             | 2032-11-01      | Variable      | 1.11%                 | No            |                  2 | On Loan: No      |
| LARAMIE CNTY WY HOSP REVENUE              | County of Laramie WY                                                    | CUSIP: 516706DK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $203382.42    | 0.01%             | 2037-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST THRUWAY AUTH                  | New York State Thruway Authority                                        | CUSIP: 650009T86<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1010000 | PA      | $1107697.40   | 0.08%             | 2040-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Johnson & Johnson                         | Johnson & Johnson                                                       | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     89589 | NS      | $14640634.38  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| S JERSEY NJ TRANSPRTN AUTH TRA            | S JERSEY NJ TRANS 4 11/50                                               | CUSIP: 838536LN8<br>LEI: 549300W8SZI2CAOKT956 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1375467.75   | 0.09%             | 2050-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZATION CORP             | Sales Tax Securitization Corp                                           | CUSIP: 79467BBM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3910915.13   | 0.27%             | 2048-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                               | State of Illinois                                                       | CUSIP: 4521527F2<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1408696.50   | 0.10%             | 2041-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU                     | CHICAGO BOE-D 5 12/46                                                   | CUSIP: 167505WB8<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    625000 | PA      | $622576.38    | 0.04%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF CINCINNATI OH RECPTS              | University of Cincinnati                                                | CUSIP: 914119X64<br>LEI: 549300E0RD3ICJ858L23 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1048472.20   | 0.07%             | 2035-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA                          | District of Columbia                                                    | CUSIP: 25476FYT9<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2319079.65   | 0.16%             | 2046-02-01      | Fixed         | 4.00%                 | 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        |   4475000 | PA      | $4332203.20   | 0.30%             | 2040-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| American Electric Power Co Inc            | American Electric Power Co Inc                                          | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |     71374 | NS      | $6706301.04   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| LANCASTER CNTY PA HOSP AUTH               | LANCASTER COUNTY HOSPITAL AUTHORITY/PA                                  | CUSIP: 514045M26<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1360000 | PA      | $1422939.17   | 0.10%             | 2042-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES            | New York State Dormitory Authority                                      | CUSIP: 65000BNV6<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   4500000 | PA      | $5292152.55   | 0.36%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL MIDWAY ARPT REVENUE            | CHICAGO MIDWAY INTERNATIONAL AIRPORT                                    | CUSIP: 167562PS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2027065.40   | 0.14%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Medtronic PLC                             | Medtronic PLC                                                           | CUSIP: 000000000<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |     16972 | NS      | $1420386.68   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| MASSACHUSETTS ST SCH BLDG AUTH            | MASSACHUSETTS SCHOOL BUILDING AUTHORITY                                 | CUSIP: 576000SE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5271536.00   | 0.36%             | 2037-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Eli Lilly & Co                            | ELI LILLY & CO                                                          | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |     24068 | NS      | $8283002.20   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW JERSEY ST TURNPIKE AUTH TU            | New Jersey Turnpike Authority                                           | CUSIP: 646140DD2<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4254596.00   | 0.29%             | 2048-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI            | Pennsylvania Turnpike Commission                                        | CUSIP: 709225GL4<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1155000 | PA      | $1285121.03   | 0.09%             | 2052-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DENVER CITY & CNTY CO ARPT REV            | City & County of Denver CO Airport System Revenue                       | CUSIP: 249182RT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1685505.15   | 0.12%             | 2053-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH RE            | New Jersey Economic Development Authority                               | CUSIP: 64577XED4<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4337531.60   | 0.30%             | 2047-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST CMWLTH TRANSPRTN B            | VIRGINIA COMMONWEALTH TRANSPORTATION BOARD                              | CUSIP: 927793B24<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5456764.00   | 0.37%             | 2026-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GEO L SMITH II GA CONGRESS CTR            | George L Smith II Congress Center Authority                             | CUSIP: 37255MAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    665000 | PA      | $555451.96    | 0.04%             | 2054-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| L3Harris Technologies Inc                 | L3Harris Technologies Inc                                               | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |     19655 | NS      | $4222287.10   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLEGHENY CNTY PA HOSP DEV AUT            | Allegheny County Hospital Development Authority                         | CUSIP: 01728A5V4<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |   2870000 | PA      | $2789910.35   | 0.19%             | 2047-11-15      | Variable      | 2.36%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP N            | Tobacco Settlement Financing Corp                                       | CUSIP: 888808HL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4745000 | PA      | $5044701.32   | 0.35%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL             | Black Belt Energy Gas District                                          | CUSIP: 09182TBD8<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4803183.50   | 0.33%             | 2053-04-01      | Variable      | 2.31%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH NATIO            | Arizona Industrial Development Authority                                | CUSIP: 04052FDR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4250000 | PA      | $4454836.40   | 0.30%             | 2047-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Honeywell International Inc               | Honeywell International Inc                                             | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |     50738 | NS      | $10577858.24  | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| UNIV OF VIRGINIA VA UNIV REVEN            | University of Virginia                                                  | CUSIP: 915217WZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4900000 | PA      | $4929351.00   | 0.34%             | 2048-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MET GOVT NASHVILLE & DAVIDSON             | Metropolitan Government of Nashville & Davidson County TN               | CUSIP: 592112TH9<br>LEI: 549300GW8FVQJ3DU6O10 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5679892.50   | 0.39%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HLTH CARE FACS A            | Washington Health Care Facilities Authority                             | CUSIP: 93978HVT9<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |   1460000 | PA      | $1404856.09   | 0.10%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA                           | City of Philadelphia PA                                                 | CUSIP: 717813LJ6<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |    400000 | PA      | $400000.00    | 0.03%             | 2031-08-01      | Variable      | 1.60%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH RE            | New Jersey Economic Development Authority                               | CUSIP: 64577B5F7<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2610432.50   | 0.18%             | 2043-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI            | PENNSYLVANIA TURNPIKE COMMISSION                                        | CUSIP: 709224KX6<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2070319.40   | 0.14%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL SCH DIST               | School Board of Miami-Dade County/The                                   | CUSIP: 59333RLB8<br>LEI: 549300J3U4QVT6U3O129 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5768201.50   | 0.39%             | 2038-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kraft Heinz Co/The                        | Kraft Heinz Co/The                                                      | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Long             | EC               | CORP              | US        |     47977 | NS      | $1944507.81   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| GEISINGER PA AUTH HLTH SYS REV            | Geisinger Authority                                                     | CUSIP: 368497JV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4150000 | PA      | $3959017.83   | 0.27%             | 2050-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST ECON DEV CORP ECON            | MARYLAND ECONOMIC DEVELOPMENT CORP                                      | CUSIP: 57420NCC3<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |    550000 | PA      | $584881.94    | 0.04%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST WTR DEV BRD                      | TEXAS WATER DEVELOPMENT BOARD                                           | CUSIP: 882854B27<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5204922.50   | 0.36%             | 2036-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTHAMPTON CNTY PA GEN PURPOS            | NORTHAMPTON CO AUTH                                                     | CUSIP: 66353RCF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3030000 | PA      | $2868325.87   | 0.20%             | 2048-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV            | CO HLTH-A-SCL HLTH                                                      | CUSIP: 19648AN84<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3831946.13   | 0.26%             | 2044-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TAMPA FL WTR & WSTWTR SYS REVE            | City of Tampa FL Water & Wastewater System Revenue                      | CUSIP: 875291BM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7535000 | PA      | $8589945.96   | 0.59%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH RE            | NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY                               | CUSIP: 64577BL28<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1080113.00   | 0.07%             | 2033-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OREGON ST                                 | State of Oregon                                                         | CUSIP: 68609BA49<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5527076.00   | 0.38%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE ST HLTH & EDU FA            | NEW HAMPSHIRE HEALTH AND EDUCATION FACILITIES AUTHORITY ACT             | CUSIP: 64461XBF1<br>LEI: 549300CNCK7OT82W5653 | Long             | DBT              | MUN               | US        |    834787 | PA      | $183653.06    | 0.01%             | 2037-07-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| ILLINOIS ST TOLL HIGHWAY AUTH             | ILLINOIS STATE TOLL HIGHWAY AUTHORITY                                   | CUSIP: 452252JD2<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2030880.20   | 0.14%             | 2039-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pfizer Inc                                | Pfizer Inc                                                              | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |    183429 | NS      | $8100224.64   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK CITY NY MUNI WTR FIN             | New York City Municipal Water Finance Authority                         | CUSIP: 64972GC28<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2793766.50   | 0.19%             | 2047-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF ARPTS A            | City of Los Angeles Department of Airports                              | CUSIP: 544445J34<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2238298.00   | 0.15%             | 2048-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cisco Systems Inc                         | Cisco Systems Inc                                                       | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |    115691 | NS      | $5630680.97   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| CLIFTON TX HGR EDU FIN CORP ED            | CLIFTON HIGHER EDUCATION FINANCE CORP                                   | CUSIP: 187145BJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500501.35    | 0.03%             | 2042-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH RE            | New Jersey Economic Development Authority                               | CUSIP: 64577XEB8<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1975836.42   | 0.14%             | 2041-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Home Depot Inc/The                        | Home Depot Inc/The                                                      | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      8837 | NS      | $2864690.29   | 0.20%             |  |  |  | No            |                  1 | 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        |    414000 | PA      | $412062.77    | 0.03%             | 2036-03-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Comcast Corp                              | Comcast Corp. Class A                                                   | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |    129750 | NS      | $5105662.50   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| FRANKLIN CNTY OH REVENUE                  | County of Franklin OH                                                   | CUSIP: 353202FL3<br>LEI: 549300VCBUC1RZE7KL42 | Long             | DBT              | MUN               | US        |   3900000 | PA      | $3824364.57   | 0.26%             | 2046-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Unilever PLC                              | Unilever PLC                                                            | CUSIP: 000000000<br>LEI: 549300MKFYEKVRWML317 | Long             | EC               | CORP              | GB        |     44286 | NS      | $2262517.91   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-23

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

**Signature:** Stephen Van Meter

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

**Title:** Chief Compliance Officer