# EDGAR Filing Document

**Accession Number:** 0001454741
**File Stem:** 0001752724-23-049210
**Filing Date:** 2023-3
**Character Count:** 121418
**Document Hash:** a9ee0309428d39b1783ad6136d86d2f8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-049210.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0001752724-23-049210

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230301

**PERIOD START**: 20230331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Eaton Vance National Municipal Opportunities Trust
- **CENTRAL INDEX KEY:** 0001454741
- **IRS NUMBER:** 000000000
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22269
- **FILM NUMBER:** 23690918

**BUSINESS ADDRESS:**
- **STREET 1:** TWO INTERNATIONAL PLACE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 617-482-8260

**MAIL ADDRESS:**
- **STREET 1:** TWO INTERNATIONAL PLACE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Eaton Vance National Municipal Trust
- **DATE OF NAME CHANGE:** 20090126

## Nport-Ex

Eaton Vance<br>

National Municipal Opportunities Trust

December 31, 2022

Portfolio of Investments (Unaudited)

------

Corporate Bonds — 2.1%

---

| | | |
|:---|:---|:---|
| **Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Hospital — 0.7% | Hospital — 0.7% | Hospital — 0.7% |
| Montefiore Obligated Group, 4.287%, 9/1/50 | $3240 | &nbsp;&nbsp;$1936521 |
|  |  | &nbsp;&nbsp;**$1936521** |
| Insured - Hospital — 0.5% | Insured - Hospital — 0.5% | Insured - Hospital — 0.5% |
| Toledo Hospital, (AGM), 5.75%, 11/15/38 | $1440 | &nbsp;&nbsp;$1359903 |
|  |  | &nbsp;&nbsp;**$1359903** |
| Other — 0.9% | Other — 0.9% | Other — 0.9% |
| Morongo Band of Mission Indians, 7.00%, 10/1/39<sup>(1)</sup> | $2430 | &nbsp;&nbsp;$2573540 |
|  |  | &nbsp;&nbsp;**$2573540** |
| Total Corporate Bonds<br> (identified cost $7,288,829) |  | &nbsp;&nbsp;**$5869964** |

---

Tax-Exempt Municipal Obligations — 104.5%

---

| | | |
|:---|:---|:---|
| **Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Education — 2.0% | Education — 2.0% | Education — 2.0% |
| Arizona Industrial Development Authority, (Doral Academy of Nevada), 5.00%, 7/15/49<sup>(1)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp;$496238 |
| Arizona Industrial Development Authority, (Pinecrest Academy of Nevada), 4.00%, 7/15/50<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;&nbsp;&nbsp; 139418 |
| Capital Trust Agency, FL, (Florida Charter Educational Foundation, Inc.): |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, 6/15/38<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp; 199937 |
| &nbsp;&nbsp;&nbsp;5.375%, 6/15/48<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp;&nbsp;&nbsp; 356800 |
| Capital Trust Agency, FL, (Liza Jackson Preparatory School, Inc.), 5.00%, 8/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp; 315614 |
| District of Columbia, (District of Columbia International School), 5.00%, 7/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;&nbsp;&nbsp; 181622 |
| District of Columbia, (KIPP DC): |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, 7/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp;&nbsp; 91422 |
| &nbsp;&nbsp;&nbsp;4.00%, 7/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp;&nbsp; 113435 |
| District of Columbia, (Rocketship DC Obligated Group): |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 6/1/56<sup>(1)</sup> | 1090 | &nbsp;&nbsp;&nbsp;&nbsp; 979528 |
| &nbsp;&nbsp;&nbsp;5.00%, 6/1/61<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;355 | &nbsp;&nbsp;&nbsp;&nbsp; 316021 |
| Jacksonville, FL, (Jacksonville University), 5.00%, 6/1/53<sup>(1)</sup> | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 822560 |
| Public Finance Authority, WI, (North Carolina Leadership Academy), 5.00%, 6/15/54<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp;&nbsp;&nbsp; 398480 |

---

---

| | | |
|:---|:---|:---|
| **Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Education (continued) | Education (continued) | Education (continued) |
| Public Finance Authority, WI, (Roseman University of Health Sciences): |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, 4/1/52<sup>(1)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;$181983 |
| &nbsp;&nbsp;&nbsp;5.00%, 4/1/40<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;655 | &nbsp;&nbsp;&nbsp;&nbsp; 622964 |
| &nbsp;&nbsp;&nbsp;5.00%, 4/1/50<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp; 157050 |
| Yonkers Economic Development Corp., NY, (Lamartine/Warburton, LLC - Charter School of Educational Excellence): |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 10/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp;&nbsp;&nbsp; 61908 |
| &nbsp;&nbsp;&nbsp;5.00%, 10/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;110 | &nbsp;&nbsp;&nbsp;&nbsp; 95854 |
|  |  | &nbsp;&nbsp;**$5530834** |
| Electric Utilities — 5.5% | Electric Utilities — 5.5% | Electric Utilities — 5.5% |
| Burke County Development Authority, GA, (Oglethorpe Power Corp.), 4.125%, 11/1/45 | $5750 | &nbsp;&nbsp;$4922805 |
| Hawaii Department of Budget and Finance, (Hawaiian Electric Co.), 3.20%, 7/1/39 | 2520 | &nbsp;&nbsp;&nbsp;&nbsp; 2057630 |
| Lower Colorado River Authority, TX, (LCRA Transmission Services Corp.), 5.50%, 5/15/47 | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 2142780 |
| New York Power Authority, 4.00%, 11/15/60 | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 1787540 |
| Omaha Public Power District, NE, 5.00%, 2/1/47<sup>(2)</sup> | 4000 | &nbsp;&nbsp;&nbsp;&nbsp; 4338480 |
|  |  | &nbsp;&nbsp;**$15249235** |
| Escrowed/Prerefunded — 3.7% | Escrowed/Prerefunded — 3.7% | Escrowed/Prerefunded — 3.7% |
| Central Texas Regional Mobility Authority, Prerefunded to 7/1/25, 5.00%, 1/1/45 | $&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;$792848 |
| Massachusetts Development Finance Agency, (Atrius Health), Prerefunded to 6/1/29, 4.00%, 6/1/49 | 1555 | &nbsp;&nbsp;&nbsp;&nbsp; 1677067 |
| New Hope Cultural Education Facilities Finance Corp., TX, (CHF-Collegiate Housing Stephenville III, LLC - Tarleton State University), Prerefunded to 4/1/25, 5.00%, 4/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp;&nbsp;&nbsp; 465764 |
| San Joaquin Hills Transportation Corridor Agency, CA, Prerefunded to 1/15/25, 5.00%, 1/15/50 | 6400 | &nbsp;&nbsp;&nbsp;&nbsp; 6705280 |
| Southwestern Illinois Development Authority, (Memorial Group, Inc.), Prerefunded to 11/1/23, 7.25%, 11/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;770 | &nbsp;&nbsp;&nbsp;&nbsp; 794832 |
|  |  | &nbsp;&nbsp;**$10435791** |
| General Obligations — 10.8% | General Obligations — 10.8% | General Obligations — 10.8% |
| Chicago Board of Education, IL, 5.00%, 12/1/42 | $6410 | &nbsp;&nbsp;$6152062 |
| Chicago, IL, 5.50%, 1/1/49 | 5000 | &nbsp;&nbsp;&nbsp;&nbsp; 5086600 |
| Detroit, MI: |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, 4/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;435 | &nbsp;&nbsp;&nbsp;&nbsp; 454845 |
| &nbsp;&nbsp;&nbsp;5.50%, 4/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;680 | &nbsp;&nbsp;&nbsp;&nbsp; 698074 |
| Illinois: |  |  |
| &nbsp;&nbsp;&nbsp;4.25%, 12/1/37 | 6000 | &nbsp;&nbsp;&nbsp;&nbsp; 5542680 |
| &nbsp;&nbsp;&nbsp;5.00%, 5/1/36 | 3500 | &nbsp;&nbsp;&nbsp;&nbsp; 3504830 |

---

------

Eaton Vance<br>

National Municipal Opportunities Trust

December 31, 2022

Portfolio of Investments (Unaudited) — continued

------

---

| | | |
|:---|:---|:---|
| **Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| General Obligations (continued) | General Obligations (continued) | General Obligations (continued) |
| Jackson County School District No. 6, OR, 0.00%, 6/15/41 | $&nbsp;&nbsp;&nbsp;&nbsp;710 | &nbsp;&nbsp;$305080 |
| Leander Independent School District, TX, (PSF Guaranteed), 5.00%, 8/15/47<sup>(2)</sup> | 4000 | &nbsp;&nbsp;&nbsp;&nbsp; 4305720 |
| Township High School District No. 203, IL, 2.00%, 12/15/33 | 2430 | &nbsp;&nbsp;&nbsp;&nbsp; 2080396 |
| Township of Freehold, NJ: |  |  |
| &nbsp;&nbsp;&nbsp;1.00%, 10/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp;&nbsp;&nbsp; 485599 |
| &nbsp;&nbsp;&nbsp;1.00%, 10/15/30 | 1035 | &nbsp;&nbsp;&nbsp;&nbsp; 848772 |
| &nbsp;&nbsp;&nbsp;1.00%, 10/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;975 | &nbsp;&nbsp;&nbsp;&nbsp; 770816 |
|  |  | &nbsp;&nbsp;**$30235474** |
| Health Care - Miscellaneous — 0.4% | Health Care - Miscellaneous — 0.4% | Health Care - Miscellaneous — 0.4% |
| Washington Health Care Facilities Authority, (Seattle Cancer Care Alliance), 5.00%, 9/1/55 | $1135 | &nbsp;&nbsp;$1156304 |
|  |  | &nbsp;&nbsp;**$1156304** |
| Hospital — 6.8% | Hospital — 6.8% | Hospital — 6.8% |
| Albemarle County Economic Development Authority, VA, (Sentara Martha Jefferson Hospital), (SPA: TD Bank, N.A.), 3.50%, 10/1/48<sup>(3)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;985 | &nbsp;&nbsp;$985000 |
| California Health Facilities Financing Authority, (St. Joseph Health System), Prerefunded to 7/1/23, 5.00%, 7/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp; 166667 |
| Camden County Improvement Authority, NJ, (Cooper Health System), 5.75%, 2/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;665 | &nbsp;&nbsp;&nbsp;&nbsp; 666217 |
| Chattanooga Health, Educational and Housing Facility Board, TN, (CommonSpirit Health), 4.00%, 8/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;670 | &nbsp;&nbsp;&nbsp;&nbsp; 578377 |
| Illinois Finance Authority, (Presence Health Network): |  |  |
| &nbsp;&nbsp;&nbsp;3.75%, 2/15/34 | 1190 | &nbsp;&nbsp;&nbsp;&nbsp; 1195117 |
| &nbsp;&nbsp;&nbsp;4.00%, 2/15/36 | 2500 | &nbsp;&nbsp;&nbsp;&nbsp; 2515225 |
| Illinois Finance Authority, (Rush University Medical Center), 4.00%, 11/15/39 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 913140 |
| Montgomery County Higher Education and Health Authority, PA, (Thomas Jefferson University Obligated Group), 5.00%, 5/1/57 | 3000 | &nbsp;&nbsp;&nbsp;&nbsp; 2888310 |
| Muskingum County, OH, (Genesis HealthCare System Obligated Group), 5.00%, 2/15/48 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 860790 |
| New Hampshire Health and Education Facilities Authority, (Dartmouth-Hitchcock Obligated Group), 5.00%, 8/1/59 | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 2074100 |
| New York Dormitory Authority, (Northwell Health Obligated Group), 5.00%, 5/1/52 | 1770 | &nbsp;&nbsp;&nbsp;&nbsp; 1806338 |
| New York Dormitory Authority, (Orange Regional Medical Center), 5.00%, 12/1/35<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp; 893268 |
| Tarrant County Cultural Education Facilities Finance Corp., TX, (Cook Children's Medical Center), 5.25%, 12/1/39<sup>(2)</sup> | 3500 | &nbsp;&nbsp;&nbsp;&nbsp; 3539060 |
|  |  | &nbsp;&nbsp;**$19081609** |

---

---

| | | |
|:---|:---|:---|
| **Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Housing — 2.1% | Housing — 2.1% | Housing — 2.1% |
| CSCDA Community Improvement Authority, CA, (City of Orange Portfolio), Essential Housing Revenue, Social Bonds, 3.00%, 3/1/57<sup>(1)</sup> | $3145 | &nbsp;&nbsp;$2092997 |
| Maryland Economic Development Corp., (Morgan State University), Student Housing Revenue, 5.00%, 7/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp; 418748 |
| New York City Housing Development Corp., NY: |  |  |
| &nbsp;&nbsp;&nbsp;2.35%, 11/1/40 | 3635 | &nbsp;&nbsp;&nbsp;&nbsp; 2570636 |
| &nbsp;&nbsp;&nbsp;3.85%, 11/1/42 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 890990 |
|  |  | &nbsp;&nbsp;**$5973371** |
| Industrial Development Revenue — 8.3% | Industrial Development Revenue — 8.3% | Industrial Development Revenue — 8.3% |
| Henderson, KY, (Pratt Paper, LLC), (AMT), 4.70%, 1/1/52<sup>(1)</sup> | $1000 | &nbsp;&nbsp;$887340 |
| Houston, TX, (United Airlines, Inc.), (AMT), 4.00%, 7/15/41 | 2400 | &nbsp;&nbsp;&nbsp;&nbsp; 2041152 |
| Maine Finance Authority, (Casella Waste Systems, Inc.), (AMT), 5.125% to 8/1/25 (Put Date), 8/1/35<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp;&nbsp;&nbsp; 726095 |
| National Finance Authority, NH, (Covanta): |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, 11/1/42<sup>(1)</sup> | 1415 | &nbsp;&nbsp;&nbsp;&nbsp; 1237120 |
| &nbsp;&nbsp;&nbsp;(AMT), 4.875%, 11/1/42<sup>(1)</sup> | 1555 | &nbsp;&nbsp;&nbsp;&nbsp; 1405378 |
| New Hampshire Business Finance Authority, (Casella Waste Systems, Inc.), 2.95%, 4/1/29<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp;&nbsp;&nbsp; 490806 |
| New Jersey Economic Development Authority, (Continental Airlines): |  |  |
| &nbsp;&nbsp;&nbsp;(AMT), 5.125%, 9/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp;&nbsp; 170430 |
| &nbsp;&nbsp;&nbsp;(AMT), 5.25%, 9/15/29 | 1900 | &nbsp;&nbsp;&nbsp;&nbsp; 1890804 |
| New York Liberty Development Corp., (Goldman Sachs Group, Inc.), 5.25%, 10/1/35 | 2560 | &nbsp;&nbsp;&nbsp;&nbsp; 2814797 |
| New York Transportation Development Corp., (Delta Air Lines, Inc. - LaGuardia Airport Terminals C&D Redevelopment), (AMT), 5.00%, 10/1/40 | 4405 | &nbsp;&nbsp;&nbsp;&nbsp; 4253732 |
| Niagara Area Development Corp., NY, (Covanta), (AMT), 4.75%, 11/1/42<sup>(1)</sup> | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 1778080 |
| Phenix City Industrial Development Board, AL, (MeadWestvaco Coated Board), (AMT), 4.125%, 5/15/35 | 3935 | &nbsp;&nbsp;&nbsp;&nbsp; 3839812 |
| Rockdale County Development Authority, GA, (Pratt Paper, LLC), (AMT), 4.00%, 1/1/38<sup>(1)</sup> | 1445 | &nbsp;&nbsp;&nbsp;&nbsp; 1310890 |
| Vermont Economic Development Authority, (Casella Waste Systems, Inc.), (AMT), 4.625% to 4/3/28 (Put Date), 4/1/36<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp;&nbsp; 141332 |
|  |  | &nbsp;&nbsp;**$22987768** |
| Insured - Education — 1.9% | Insured - Education — 1.9% | Insured - Education — 1.9% |
| New York Dormitory Authority, (School Districts Financing Program), (BAM), 5.00%, 10/1/42<sup>(2)</sup> | $5000 | &nbsp;&nbsp;$5384650 |
|  |  | &nbsp;&nbsp;**$5384650** |

---

------

Eaton Vance<br>

National Municipal Opportunities Trust

December 31, 2022

Portfolio of Investments (Unaudited) — continued

------

---

| | | |
|:---|:---|:---|
| **Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Insured - Electric Utilities — 1.3% | Insured - Electric Utilities — 1.3% | Insured - Electric Utilities — 1.3% |
| New York Power Authority, Green Transmission Revenue, (AGM), 4.00%, 11/15/47<sup>(2)</sup> | $3750 | &nbsp;&nbsp;$3575925 |
|  |  | &nbsp;&nbsp;**$3575925** |
| Insured - General Obligations — 1.1% | Insured - General Obligations — 1.1% | Insured - General Obligations — 1.1% |
| Atlantic City, NJ, (AGM), 4.00%, 3/1/42 | $&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;$141393 |
| McHenry County Community Unit School District No. 12, IL, (AGM), 5.00%, 1/1/30 | 2910 | &nbsp;&nbsp;&nbsp;&nbsp; 2963311 |
|  |  | &nbsp;&nbsp;**$3104704** |
| Insured - Industrial Development Revenue — 0.4% | Insured - Industrial Development Revenue — 0.4% | Insured - Industrial Development Revenue — 0.4% |
| Pennsylvania Economic Development Financing Authority, (PennDOT Major Bridges Package One), (AGM), (AMT), 5.00%, 12/31/57 | $1000 | &nbsp;&nbsp;$996710 |
|  |  | &nbsp;&nbsp;**$996710** |
| Insured - Lease Revenue/Certificates of Participation — 0.1% | Insured - Lease Revenue/Certificates of Participation — 0.1% | Insured - Lease Revenue/Certificates of Participation — 0.1% |
| Kentucky State University, Certificates of Participation, (BAM), 4.00%, 11/1/41 | $&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;$244033 |
|  |  | &nbsp;&nbsp;**$244033** |
| Insured - Other Revenue — 0.2% | Insured - Other Revenue — 0.2% | Insured - Other Revenue — 0.2% |
| New York City Industrial Development Agency, NY, (Queens Baseball Stadium), (AGM), 3.00%, 1/1/46 | $&nbsp;&nbsp;&nbsp;&nbsp;840 | &nbsp;&nbsp;$626615 |
|  |  | &nbsp;&nbsp;**$626615** |
| Insured - Special Tax Revenue — 5.6% | Insured - Special Tax Revenue — 5.6% | Insured - Special Tax Revenue — 5.6% |
| Metropolitan Pier and Exposition Authority, IL, (McCormick Place), (BAM), 4.00%, 12/15/42 | $2000 | &nbsp;&nbsp;$1785700 |
| Miami-Dade County, FL, Professional Sports Franchise Facilities: |  |  |
| &nbsp;&nbsp;&nbsp;(AGC), 6.875%, 10/1/34 | 4000 | &nbsp;&nbsp;&nbsp;&nbsp; 4964680 |
| &nbsp;&nbsp;&nbsp;(AGC), 7.00%, 10/1/39 | 6000 | &nbsp;&nbsp;&nbsp;&nbsp; 7369860 |
| Tolomato Community Development District, FL: |  |  |
| &nbsp;&nbsp;&nbsp;(AGM), 3.75%, 5/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;720 | &nbsp;&nbsp;&nbsp;&nbsp; 674251 |
| &nbsp;&nbsp;&nbsp;(AGM), 3.75%, 5/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;855 | &nbsp;&nbsp;&nbsp;&nbsp; 780667 |
|  |  | &nbsp;&nbsp;**$15575158** |
| Insured - Transportation — 7.7% | Insured - Transportation — 7.7% | Insured - Transportation — 7.7% |
| Chicago, IL, (O'Hare International Airport), (AGM), 5.50%, 1/1/43 | $&nbsp;&nbsp;&nbsp;&nbsp;710 | &nbsp;&nbsp;$710532 |
| Metropolitan Transportation Authority, NY, Green Bonds, (AGM), 4.00%, 11/15/48 | 6225 | &nbsp;&nbsp;&nbsp;&nbsp; 5615697 |
| New York Thruway Authority, (AGM), 3.00%, 1/1/46 | 4895 | &nbsp;&nbsp;&nbsp;&nbsp; 3770912 |

---

---

| | | |
|:---|:---|:---|
| **Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Insured - Transportation (continued) | Insured - Transportation (continued) | Insured - Transportation (continued) |
| New York Transportation Development Corp., (LaGuardia Airport Terminal B Redevelopment): |  |  |
| &nbsp;&nbsp;&nbsp;(AGM), (AMT), 4.00%, 7/1/35 | $&nbsp;&nbsp;&nbsp;&nbsp;460 | &nbsp;&nbsp;$432193 |
| &nbsp;&nbsp;&nbsp;(AGM), (AMT), 4.00%, 7/1/37 | 1295 | &nbsp;&nbsp;&nbsp;&nbsp; 1183721 |
| North Carolina Turnpike Authority, (Triangle Expressway System): |  |  |
| &nbsp;&nbsp;&nbsp;(AGC), 0.00%, 1/1/35 | 4000 | &nbsp;&nbsp;&nbsp;&nbsp; 2407800 |
| &nbsp;&nbsp;&nbsp;(AGC), 0.00%, 1/1/36 | 13000 | &nbsp;&nbsp;&nbsp;&nbsp; 7368270 |
|  |  | &nbsp;&nbsp;**$21489125** |
| Lease Revenue/Certificates of Participation — 1.9% | Lease Revenue/Certificates of Participation — 1.9% | Lease Revenue/Certificates of Participation — 1.9% |
| Baltimore, MD, (Harbor Point), 4.875%, 6/1/42 | $&nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp;$300298 |
| New Jersey Economic Development Authority, (School Facilities Construction): |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 6/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;740 | &nbsp;&nbsp;&nbsp;&nbsp; 754534 |
| &nbsp;&nbsp;&nbsp;5.00%, 6/15/44 | 4260 | &nbsp;&nbsp;&nbsp;&nbsp; 4345668 |
|  |  | &nbsp;&nbsp;**$5400500** |
| Other Revenue — 2.4% | Other Revenue — 2.4% | Other Revenue — 2.4% |
| Buckeye Tobacco Settlement Financing Authority, OH, 5.00%, 6/1/55 | $3240 | &nbsp;&nbsp;$2816467 |
| Golden State Tobacco Securitization Corp., CA, 5.00%, 6/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;780 | &nbsp;&nbsp;&nbsp;&nbsp; 801411 |
| Kalispel Tribe of Indians, WA, Series A, 5.25%, 1/1/38<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp;&nbsp;&nbsp; 407686 |
| Military Installation Development Authority, UT, 4.00%, 6/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 398005 |
| Morongo Band of Mission Indians, CA, 5.00%, 10/1/42<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;605 | &nbsp;&nbsp;&nbsp;&nbsp; 604982 |
| Salt Verde Financial Corp., AZ, Senior Gas Revenue, 5.00%, 12/1/37 | 1605 | &nbsp;&nbsp;&nbsp;&nbsp; 1633441 |
|  |  | &nbsp;&nbsp;**$6661992** |
| Senior Living/Life Care — 8.5% | Senior Living/Life Care — 8.5% | Senior Living/Life Care — 8.5% |
| Atlantic Beach, FL, (Fleet Landing), 5.00%, 11/15/37 | $3405 | &nbsp;&nbsp;$3321101 |
| Bexar County Health Facilities Development Corp., TX, (Army Retirement Residence Foundation): |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 7/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp;&nbsp;&nbsp; 801338 |
| &nbsp;&nbsp;&nbsp;5.00%, 7/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp; 638855 |
| Clackamas County Hospital Facility Authority, OR, (Rose Villa), 5.25%, 11/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp; 109629 |
| Colorado Health Facilities Authority, (Aberdeen Ridge), 5.00%, 5/15/58 | 1110 | &nbsp;&nbsp;&nbsp;&nbsp; 834320 |
| District of Columbia, (Ingleside at Rock Creek), 5.00%, 7/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;&nbsp;&nbsp; 174570 |
| Harris County Cultural Education Facilities Finance Corp., TX, (Brazos Presbyterian Homes, Inc.): |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, 1/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp; 165084 |
| &nbsp;&nbsp;&nbsp;6.375%, 1/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp;&nbsp;&nbsp; 345286 |

---

------

Eaton Vance<br>

National Municipal Opportunities Trust

December 31, 2022

Portfolio of Investments (Unaudited) — continued

------

---

| | | |
|:---|:---|:---|
| **Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Senior Living/Life Care (continued) | Senior Living/Life Care (continued) | Senior Living/Life Care (continued) |
| Iowa Finance Authority, (Lifespace Communities, Inc.), 4.125%, 5/15/38 | $1500 | &nbsp;&nbsp;$1211055 |
| Lee County Industrial Development Authority, FL, (Shell Point/Alliance Obligated Group), 5.00%, 11/15/39 | 1800 | &nbsp;&nbsp;&nbsp;&nbsp; 1808190 |
| Massachusetts Development Finance Agency, (Linden Ponds, Inc.): |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 11/15/33<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp;&nbsp;&nbsp; 491977 |
| &nbsp;&nbsp;&nbsp;5.00%, 11/15/38<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp;&nbsp;&nbsp; 317428 |
| Massachusetts Development Finance Agency, (NewBridge on the Charles, Inc.), 5.00%, 10/1/57<sup>(1)</sup> | 1650 | &nbsp;&nbsp;&nbsp;&nbsp; 1665807 |
| Multnomah County Hospital Facilities Authority, OR, (Mirabella at South Waterfront), 5.00%, 10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp; 360968 |
| Multnomah County Hospital Facilities Authority, OR, (Terwilliger Plaza), 4.00%, 12/1/51 | 1480 | &nbsp;&nbsp;&nbsp;&nbsp; 1106907 |
| National Finance Authority, NH, (The Vista): |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, 7/1/39<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp;&nbsp; 244107 |
| &nbsp;&nbsp;&nbsp;5.625%, 7/1/46<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp; 332474 |
| &nbsp;&nbsp;&nbsp;5.75%, 7/1/54<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;780 | &nbsp;&nbsp;&nbsp;&nbsp; 717569 |
| New Hope Cultural Education Facilities Finance Corp., TX, (Longhorn Village): |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 1/1/31 | 1235 | &nbsp;&nbsp;&nbsp;&nbsp; 1215042 |
| &nbsp;&nbsp;&nbsp;5.00%, 1/1/32 | 1295 | &nbsp;&nbsp;&nbsp;&nbsp; 1265668 |
| New Mexico Hospital Equipment Loan Council, (Haverland Carter Lifestyle Group): |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 7/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp; 73729 |
| &nbsp;&nbsp;&nbsp;5.00%, 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp; 45602 |
| &nbsp;&nbsp;&nbsp;5.00%, 7/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp;&nbsp;&nbsp; 49716 |
| Palm Beach County Health Facilities Authority, FL, (Green Cay Life Plan Village), 11.50%, 7/1/27<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp; 727425 |
| Palm Beach County Health Facilities Authority, FL, (Toby & Leon Cooperman Sinai Residences of Boca Raton), 4.00%, 6/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;780 | &nbsp;&nbsp;&nbsp;&nbsp; 608260 |
| Public Finance Authority, WI, (Mary's Woods at Marylhurst), 5.25%, 5/15/37<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;630 | &nbsp;&nbsp;&nbsp;&nbsp; 578630 |
| South Carolina Jobs-Economic Development Authority, (Kiawah Life Plan Village, Inc.), 8.75%, 7/1/25<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp; 104081 |
| Tarrant County Cultural Education Facilities Finance Corp., TX, (MRC Stevenson Oaks), 6.625%, 11/15/41 | 1335 | &nbsp;&nbsp;&nbsp;&nbsp; 1270813 |
| Tempe Industrial Development Authority, AZ, (Mirabella at ASU), 6.00%, 10/1/37<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp; 816399 |
| Tulsa County Industrial Authority, OK, (Montereau, Inc.), 5.25%, 11/15/37 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1001630 |
| Washington Housing Finance Commission, (Bayview Manor Homes), 5.00%, 7/1/51<sup>(1)</sup> | 1335 | &nbsp;&nbsp;&nbsp;&nbsp; 1041086 |
| Washington Housing Finance Commission, (Transforming Age), 5.00%, 1/1/49<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;305 | &nbsp;&nbsp;&nbsp;&nbsp; 240316 |
|  |  | &nbsp;&nbsp;**$23685062** |

---

---

| | | |
|:---|:---|:---|
| **Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Special Tax Revenue — 7.6% | Special Tax Revenue — 7.6% | Special Tax Revenue — 7.6% |
| Maryland Economic Development Corp., (Port Covington), 4.00%, 9/1/50 | $&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;$109658 |
| New York City Transitional Finance Authority, NY, Future Tax Revenue, 4.00%, 11/1/39 | 1500 | &nbsp;&nbsp;&nbsp;&nbsp; 1459380 |
| New York Dormitory Authority, Sales Tax Revenue, 4.00%, 3/15/47 | 4000 | &nbsp;&nbsp;&nbsp;&nbsp; 3715600 |
| New York State Urban Development Corp., Personal Income Tax Revenue, 5.00%, 3/15/44<sup>(2)</sup> | 6900 | &nbsp;&nbsp;&nbsp;&nbsp; 7349328 |
| New York Thruway Authority, Personal Income Tax Revenue: |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, 3/15/44 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 946840 |
| &nbsp;&nbsp;&nbsp;5.00%, 3/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp; 639732 |
| Puerto Rico Sales Tax Financing Corp., 5.00%, 7/1/58 | 4015 | &nbsp;&nbsp;&nbsp;&nbsp; 3655377 |
| Tolomato Community Development District, FL, 3.25%, 5/1/40 | 1200 | &nbsp;&nbsp;&nbsp;&nbsp; 891972 |
| Triborough Bridge and Tunnel Authority, NY, Green Bonds, 5.25%, 5/15/47<sup>(2)</sup> | 2125 | &nbsp;&nbsp;&nbsp;&nbsp; 2338881 |
|  |  | &nbsp;&nbsp;**$21106768** |
| Student Loan — 0.5% | Student Loan — 0.5% | Student Loan — 0.5% |
| New Jersey Higher Education Student Assistance Authority, (AMT), 4.75%, 12/1/43 | $1445 | &nbsp;&nbsp;$1422718 |
|  |  | &nbsp;&nbsp;**$1422718** |
| Transportation — 21.7% | Transportation — 21.7% | Transportation — 21.7% |
| Atlanta, GA, Airport Revenue, (AMT), 4.00%, 7/1/38 | $5000 | &nbsp;&nbsp;$4755950 |
| Chicago, IL, (O'Hare International Airport), (AMT), 5.50%, 1/1/55<sup>(2)</sup> | 1500 | &nbsp;&nbsp;&nbsp;&nbsp; 1570994 |
| Dallas and Fort Worth, TX, (Dallas/Fort Worth International Airport): |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, 11/1/30 | 1125 | &nbsp;&nbsp;&nbsp;&nbsp; 1147478 |
| &nbsp;&nbsp;&nbsp;5.25%, 11/1/31 | 1735 | &nbsp;&nbsp;&nbsp;&nbsp; 1768607 |
| Grand Parkway Transportation Corp., TX, 5.125%, 10/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;875 | &nbsp;&nbsp;&nbsp;&nbsp; 878386 |
| Houston, TX, (United Airlines, Inc.), (AMT), 5.00%, 7/1/29 | 2060 | &nbsp;&nbsp;&nbsp;&nbsp; 2065253 |
| Illinois Toll Highway Authority, 5.00%, 1/1/41<sup>(2)</sup> | 5575 | &nbsp;&nbsp;&nbsp;&nbsp; 5721734 |
| Metropolitan Transportation Authority, NY, Green Bonds, 5.25%, 11/15/55 | 1520 | &nbsp;&nbsp;&nbsp;&nbsp; 1521733 |
| Minneapolis-St. Paul Metropolitan Airports Commission, MN, 4.25%, 1/1/52 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 945140 |
| New Jersey Economic Development Authority, (Portal North Bridge Project), 5.00%, 11/1/52 | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 2023980 |
| New Jersey Economic Development Authority, (The Goethals Bridge Replacement), (AMT), 5.125%, 1/1/34 | 1250 | &nbsp;&nbsp;&nbsp;&nbsp; 1252337 |
| New Jersey Transportation Trust Fund Authority, (Transportation System), 0.00%, 12/15/38 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 9214400 |
| New Orleans Aviation Board, LA, (AMT), 5.00%, 1/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp; 741315 |

---

------

Eaton Vance<br>

National Municipal Opportunities Trust

December 31, 2022

Portfolio of Investments (Unaudited) — continued

------

---

| | | |
|:---|:---|:---|
| **Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Transportation (continued) | Transportation (continued) | Transportation (continued) |
| New York Transportation Development Corp., (LaGuardia Airport Terminal B Redevelopment): |  |  |
| &nbsp;&nbsp;&nbsp;(AMT), 5.00%, 12/1/39 | $&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;$459284 |
| &nbsp;&nbsp;&nbsp;(AMT), 5.25%, 1/1/50 | 2115 | &nbsp;&nbsp;&nbsp;&nbsp; 2058191 |
| New York Transportation Development Corp., (Terminal 4 John F. Kennedy International Airport), (AMT), 5.00%, 12/1/38 | 1950 | &nbsp;&nbsp;&nbsp;&nbsp; 2000641 |
| San Francisco City and County Airport Commission, CA, (San Francisco International Airport), (AMT), 5.00%, 5/1/49 | 6000 | &nbsp;&nbsp;&nbsp;&nbsp; 6078480 |
| South Jersey Transportation Authority, NJ, 5.25%, 11/1/52 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1016480 |
| Texas Private Activity Bond Surface Transportation Corp., (North Tarrant Express Managed Lanes Project), 5.00%, 12/31/35 | &nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;&nbsp; 186566 |
| Texas Transportation Commission, (Central Texas Turnpike System): |  |  |
| &nbsp;&nbsp;&nbsp;0.00%, 8/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp;&nbsp;&nbsp; 378692 |
| &nbsp;&nbsp;&nbsp;5.00%, 8/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp;&nbsp;&nbsp; 437827 |
| Triborough Bridge and Tunnel Authority, NY, 5.00%, 11/15/51<sup>(2)</sup> | 8800 | &nbsp;&nbsp;&nbsp;&nbsp; 9306088 |
| Virginia Small Business Financing Authority, (95 Express Lanes, LLC), (AMT), 4.00%, 1/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp; 614054 |
| Virginia Small Business Financing Authority, (Elizabeth River Crossings Opco, LLC): |  |  |
| &nbsp;&nbsp;&nbsp;(AMT), 4.00%, 1/1/38 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 929460 |
| &nbsp;&nbsp;&nbsp;(AMT), 4.00%, 1/1/40 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 908240 |
| Virginia Small Business Financing Authority, (Transform 66 P3): |  |  |
| &nbsp;&nbsp;&nbsp;(AMT), 5.00%, 12/31/49 | 1500 | &nbsp;&nbsp;&nbsp;&nbsp; 1432245 |
| &nbsp;&nbsp;&nbsp;(AMT), 5.00%, 12/31/52 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 946570 |
|  |  | &nbsp;&nbsp;**$60360125** |
| Water and Sewer — 4.0% | Water and Sewer — 4.0% | Water and Sewer — 4.0% |
| Michigan Finance Authority, (Detroit Water and Sewerage Department), 5.00%, 7/1/34 | $2070 | &nbsp;&nbsp;$2114546 |
| New York City Municipal Water Finance Authority, NY, (Water and Sewer System), (SPA: Mizuho Bank, Ltd.), 3.50%, 6/15/44<sup>(3)</sup> | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 2000000 |
| Texas Water Development Board: |  |  |
| &nbsp;&nbsp;&nbsp;4.80%, 10/15/52 | 1500 | &nbsp;&nbsp;&nbsp;&nbsp; 1541850 |
| &nbsp;&nbsp;&nbsp;5.00%, 10/15/47<sup>(2)</sup> | 5000 | &nbsp;&nbsp;&nbsp;&nbsp; 5412000 |
|  |  | &nbsp;&nbsp;**$11068396** |
| Total Tax-Exempt Municipal Obligations<br> (identified cost $295,223,745) |  | &nbsp;&nbsp;**$291352867** |

---

Taxable Municipal Obligations — 4.8%

---

| | | |
|:---|:---|:---|
| **Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| General Obligations — 1.2% | General Obligations — 1.2% | General Obligations — 1.2% |
| Chicago, IL: |  |  |
| &nbsp;&nbsp;&nbsp;7.375%, 1/1/33 | $1750 | &nbsp;&nbsp;$1850380 |
| &nbsp;&nbsp;&nbsp;7.781%, 1/1/35 | 1400 | &nbsp;&nbsp;&nbsp;&nbsp; 1521492 |
|  |  | &nbsp;&nbsp;**$3371872** |
| Hospital — 1.5% | Hospital — 1.5% | Hospital — 1.5% |
| California Statewide Communities Development Authority, (Loma Linda University Medical Center), 6.00%, 12/1/24 | $4000 | &nbsp;&nbsp;$4075920 |
|  |  | &nbsp;&nbsp;**$4075920** |
| Insured - Education — 0.4% | Insured - Education — 0.4% | Insured - Education — 0.4% |
| Onondaga Civic Development Corp., NY, (Upstate Properties Development, Inc.), (BAM), 3.158%, 12/1/41 | $1610 | &nbsp;&nbsp;$1205987 |
|  |  | &nbsp;&nbsp;**$1205987** |
| Insured - Housing — 0.4% | Insured - Housing — 0.4% | Insured - Housing — 0.4% |
| Oregon Facilities Authority, (CHF-Ashland, LLC - Southern Oregon University), (AGM), 3.508%, 7/1/41 | $1500 | &nbsp;&nbsp;$1155465 |
|  |  | &nbsp;&nbsp;**$1155465** |
| Insured - Special Tax Revenue — 0.3% | Insured - Special Tax Revenue — 0.3% | Insured - Special Tax Revenue — 0.3% |
| Houston Uptown Development Authority, TX, Tax Increment Contract Revenue, (AGM), 3.464%, 9/1/40 | $1160 | &nbsp;&nbsp;$884117 |
|  |  | &nbsp;&nbsp;**$884117** |
| Special Tax Revenue — 0.5% | Special Tax Revenue — 0.5% | Special Tax Revenue — 0.5% |
| American Samoa Economic Development Authority: |  |  |
| &nbsp;&nbsp;&nbsp;2.47%, 9/1/24<sup>(1)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;$449611 |
| &nbsp;&nbsp;&nbsp;3.72%, 9/1/27<sup>(1)</sup> | 1115 | &nbsp;&nbsp;&nbsp;&nbsp; 995572 |
|  |  | &nbsp;&nbsp;**$1445183** |

---

------

Eaton Vance<br>

National Municipal Opportunities Trust

December 31, 2022

Portfolio of Investments (Unaudited) — continued

------

---

| | | |
|:---|:---|:---|
| **Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Transportation — 0.5% | Transportation — 0.5% | Transportation — 0.5% |
| Maryland Economic Development Corp., (Seagirt Marine Terminal), 4.75%, 6/1/42 | $1500 | &nbsp;&nbsp;$1239360 |
|  |  | &nbsp;&nbsp;**$1239360** |
| Total Taxable Municipal Obligations<br> (identified cost $14,559,083) |  | &nbsp;&nbsp;**$13377904** |
| Total Investments — 111.4%<br> (identified cost $317,071,657) |  | &nbsp;&nbsp;**$310600735** |
| Other Assets, Less Liabilities — (11.4)% |  | &nbsp;&nbsp;**$(31778712)** |
| Net Assets — 100.0% |  | &nbsp;&nbsp;**$278822023** |

---

---

| | |
|:---|:---|
| The percentage shown for each investment category in the Portfolio of Investments is based on net assets. | The percentage shown for each investment category in the Portfolio of Investments is based on net assets. |
| <sup>(1)</sup> | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to qualified institutional buyers). At December 31, 2022, the aggregate value of these securities is $27,942,975 or 10.0% of the Trust's net assets. |
| <sup>(2)</sup> | Security represents the municipal bond held by a trust that issues residual interest bonds. |
| <sup>(3)</sup> | Variable rate demand obligation that may be tendered at par on any day for payment the same or next business day. The stated interest rate, which generally resets daily, is determined by the remarketing agent and represents the rate in effect at December 31, 2022. |

---

At December 31, 2022, the concentration of the Trust's investments in the various states and territories, determined as a percentage of total investments, is as follows:

---

| | |
|:---|:---|
| New York | 23.4% |
| Illinois | 14.1% |
| Texas | 10.8% |
| Others, representing less than 10% individually | 49.8% |

---

The Trust invests primarily in debt securities issued by municipalities. The ability of the issuers of the debt securities to meet their obligations may be affected by economic developments in a specific industry or municipality. At December 31, 2022, 17.9% of total investments are backed by bond insurance of various financial institutions and financial guaranty assurance agencies. The aggregate percentage insured by an individual financial institution or financial guaranty assurance agency ranged from 2.8% to 8.0% of total investments.

---

| | |
|:---|:---|
| **Abbreviations:** | **Abbreviations:** |
| AGC | – Assured Guaranty Corp. |
| AGM | – Assured Guaranty Municipal Corp. |
| AMT | – Interest earned from these securities may be considered a tax preference item for purposes of the Federal Alternative Minimum Tax. |
| BAM | – Build America Mutual Assurance Co. |
| PSF | – Permanent School Fund |
| SPA | – Standby Bond Purchase Agreement |

---

The Trust did not have any open derivative instruments at December 31, 2022.

Fair Value Measurements

Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.

• Level 1 – quoted prices in active markets for identical investments

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

• Level 3 – significant unobservable inputs (including a fund's own assumptions in determining the fair value of investments)

In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

------

Eaton Vance<br>

National Municipal Opportunities Trust

December 31, 2022

Portfolio of Investments (Unaudited) — continued

------

At December 31, 2022, the hierarchy of inputs used in valuing the Trust's investments, which are carried at value, were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Asset Description** | &nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;**Total** |
| Corporate Bonds | &nbsp;&nbsp;$— | &nbsp;&nbsp;$5869964 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$5869964 |
| Tax-Exempt Municipal Obligations | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;291352867 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;291352867 |
| Taxable Municipal Obligations | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13377904 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13377904 |
| **Total Investments** | &nbsp;&nbsp;**$—** | &nbsp;&nbsp;**$310600735** | &nbsp;&nbsp;**$—** | &nbsp;&nbsp;**$310600735** |

---

For information on the Trust's policy regarding the valuation of investments and other significant accounting policies, please refer to the Trust's most recent financial statements included in its semiannual or annual report to shareholders.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Eaton Vance National Municipal Opportunities Trust

- **b. Investment Company Act file number:** 811-22269

- **c. CIK number of Registrant:** 0001454741

- **d. LEI of Registrant:** 54930084Z1GHZMB5XL81

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

  - **Street Address 1:** TWO INTERNATIONAL PLACE

  - **City:** BOSTON

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02110

  - **Telephone number:** 617-482-8260

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

- **a. Name of Series:** Eaton Vance National Municipal Opportunities Trust

- **c. LEI of Series:** 54930084Z1GHZMB5XL81

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

- **a. Date of fiscal year-end:** 2023-03-31

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $318567556.37

**Total Liabilities:** $39745161.08

**Net Assets:** $278822395.29

**Cash Not Reported:** $1802919.93

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -344.78000000 | **1-Year:** -7899.35000000 | **5-Year:** -34725.76000000 | **10-Year:** -123618.48000000 | **30-Year:** -69317.85000000

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

- **3-Month:** -143.97000000 | **1-Year:** -3536.73000000 | **5-Year:** -9776.35000000 | **10-Year:** -17710.40000000 | **30-Year:** -8642.94000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | -2.27%               | 7.15%                | -0.68%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1475683.67             | $-5592126.05                               |
| Month 2  | $-2163305.71             | $19919868.94                               |
| Month 3  | $-404533.24              | $-2423839.58                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| New York Transportation Development Corp                                     | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116AV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2115000 | PA      | $2058191.10   | 0.74%             | 2050-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Metropolitan Pier & Exposition Authority                                     | MET PIER & EXPOSITION AUTH IL REVENUE                        | CUSIP: 592250FA7<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1785700.00   | 0.64%             | 2042-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp                          | NEW HOPE CULTURAL ED FACS FIN CORP TX RETIREMENT FAC REVENUE | CUSIP: 64542UDS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1235000 | PA      | $1215042.40   | 0.44%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Industrial Development Agency                                  | NEW YORK CITY NY INDL DEV AGY REVENUE                        | CUSIP: 64971PLK9<br>LEI: 549300XR20ZR5DHL9534 | Long             | DBT              | MUN               | US        |    840000 | PA      | $626614.80    | 0.22%             | 2046-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Hospital Equipment Loan Council                                   | NEW MEXICO ST HOSP EQUIPMENT LOAN COUNCIL 1ST MTGE REVENUE   | CUSIP: 647377AL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     55000 | PA      | $49715.60     | 0.02%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                     | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57584YMH9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    310000 | PA      | $317427.60    | 0.11%             | 2038-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Morongo Band of Mission Indians/The                                          | MORONGO BAND OF MISSION INDIANS CA REVENUE                   | CUSIP: 61773RAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    605000 | PA      | $604981.85    | 0.22%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Hospital Equipment Loan Council                                   | NEW MEXICO ST HOSP EQUIPMENT LOAN COUNCIL 1ST MTGE REVENUE   | CUSIP: 647377AJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     80000 | PA      | $73728.80     | 0.03%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Phenix City Industrial Development Board                                     | PHENIX CITY AL INDL DEV BRD ENVRNMNTL IMPT REVENUE           | CUSIP: 717346AQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3935000 | PA      | $3839812.35   | 1.38%             | 2035-05-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Toledo Hospital/The                                                          | Toledo Hospital/The                                          | CUSIP: 889184AD9<br>LEI: 5493009DCR7NWV6K4T34 | Long             | DBT              | CORP              | US        |   1440000 | PA      | $1359902.40   | 0.49%             | 2038-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Vermont Economic Development Authority                                       | VERMONT ST ECON DEV AUTH SOLID WST DISP REVENUE              | CUSIP: 924157AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $141331.50    | 0.05%             | 2036-04-01      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| City of Jacksonville FL                                                      | JACKSONVILLE FL EDUCTNL FACS REVENUE                         | CUSIP: 46936RAD4<br>LEI: 549300XQE0JVN9WV0J40 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $822560.00    | 0.30%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Harris County Cultural Education Facilities Finance Corp                     | HARRIS CNTY TX CULTURAL EDU FACS FIN CORP REVENUE            | CUSIP: 414009HH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    345000 | PA      | $345286.35    | 0.12%             | 2033-01-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| New York Power Authority                                                     | NEW YORK ST PWR AUTH GREEN TRANSMISSION PROJ REVENUE         | CUSIP: 65000XAV2<br>LEI: I5P1GEYFGGMMDOFX2L30 | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3618600.00   | 1.30%             | 2047-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL                                                           | CHICAGO IL                                                   | CUSIP: 167486VV8<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1850380.00   | 0.66%             | 2033-01-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Texas Transportation Commission State Highway 249 System                     | TEXAS ST TRANSPRTN COMMISSION ST HIGHWAY 249 SYS TOLL REV    | CUSIP: 88283NAH5<br>LEI: 5493006JSGNPGVJS7691 | Long             | DBT              | MUN               | US        |    850000 | PA      | $378692.00    | 0.14%             | 2038-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency Inc                                                     | CAPITAL TRUST AGY FL EDUCTNL FACS REVENUE                    | CUSIP: 14054CDF3<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    325000 | PA      | $315614.00    | 0.11%             | 2055-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                         | TRIBOROUGH NY BRIDGE & TUNNEL AUTH PAYROLL MOBILITY TAX      | CUSIP: 89602HEN3<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   2125000 | PA      | $2356327.50   | 0.85%             | 2047-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Buckeye Tobacco Settlement Financing Authority                               | BUCKEYE OH TOBACCO SETTLEMENT FING AUTH                      | CUSIP: 118217CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3240000 | PA      | $2816467.20   | 1.01%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tolomato Community Development District                                      | TOLOMATO FL CDD                                              | CUSIP: 889560EM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $891972.00    | 0.32%             | 2040-05-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp                                            | LIBERTY DEV CORP NY REVENUE                                  | CUSIP: 531127AC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2560000 | PA      | $2814796.80   | 1.01%             | 2035-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Central Texas Turnpike System                                                | TEXAS ST TRANSPRTN COMMISSION CENTRAL TX TURNPIKE SYS REVENU | CUSIP: 88283KAZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $437826.60    | 0.16%             | 2042-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                     | NATIONAL FIN AUTH NH REVENUE                                 | CUSIP: 63607YAB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1415000 | PA      | $1237120.35   | 0.44%             | 2042-11-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp                          | NEW HOPE CULTURAL ED FACS FIN CORP TX RETIREMENT FAC REVENUE | CUSIP: 64542UDT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1295000 | PA      | $1265668.25   | 0.45%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                     | NATIONAL FIN AUTH NH REVENUE                                 | CUSIP: 63607YAF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    360000 | PA      | $332474.40    | 0.12%             | 2046-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                     | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PPD1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    655000 | PA      | $622963.95    | 0.22%             | 2040-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                         | CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE                 | CUSIP: 167593LS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    710000 | PA      | $710532.50    | 0.25%             | 2043-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Tolomato Community Development District                                      | TOLOMATO FL CDD                                              | CUSIP: 889560BU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    855000 | PA      | $780666.30    | 0.28%             | 2040-05-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| MONTEFIORE OBLIGATED GRP                                                     | Montefiore Obligated Group                                   | CUSIP: 61237WAG1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3240000 | PA      | $1936521.37   | 0.69%             | 2050-09-01      | Fixed         | 4.29%                 | No            |                  2 | On Loan: No      |
| Maryland Economic Development Corp                                           | MARYLAND ST ECON DEV CORP STUDENT HSG REVENUE                | CUSIP: 57420VRL9<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |    425000 | PA      | $418748.25    | 0.15%             | 2050-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade FL                                                      | MIAMI-DADE CNTY FL PROFESSIONAL SPORTS FRANCHISE FACS TAX RE | CUSIP: 59333HCE4<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $7369860.00   | 2.64%             | 2039-10-01      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                           | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | CUSIP: 64990CQA2<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    900000 | PA      | $893268.00    | 0.32%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Turnpike Authority                                            | NORTH CAROLINA ST TURNPIKE AUTH                              | CUSIP: 65830RAR0<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $2407800.00   | 0.86%             | 2035-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Washington Health Care Facilities Authority                                  | WASHINGTON ST HLTH CARE FACS AUTH                            | CUSIP: 93978HXM2<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1156303.95   | 0.41%             | 2055-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                    | HOUSTON TX ARPT SYS REVENUE                                  | CUSIP: 4423487H5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2060000 | PA      | $2065253.00   | 0.74%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                     | PUBLIC FIN AUTH WI EDU REVENUE                               | CUSIP: 74442EEH9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    455000 | PA      | $398479.90    | 0.14%             | 2054-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp                                       | NEW YORK CITY NY HSG DEV CORP MF HSG REVENUE                 | CUSIP: 64972ETR0<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   3635000 | PA      | $2570635.65   | 0.92%             | 2040-11-01      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| Albemarle County Economic Development Authority                              | ALBEMARLE CNTY VA ECON DEV AUTH HOSP REVENUE                 | CUSIP: 012663AM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    985000 | PA      | $985000.00    | 0.35%             | 2048-10-01      | Floating      | 3.50%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                    | NEW JERSEY ST ECON DEV AUTH REVENUE                          | CUSIP: 64577B7R9<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   4260000 | PA      | $4345668.60   | 1.56%             | 2044-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4015000 | PA      | $3655376.45   | 1.31%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minneapolis-St Paul Metropolitan Airports Commission                         | MINNEAPOLIS-SAINT PAUL MN MET ARPTS COMMISSION ARPT REVENUE  | CUSIP: 603827H74<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $945140.00    | 0.34%             | 2052-01-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                               | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                      | CUSIP: 646136WT4<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |  20000000 | PA      | $9214400.00   | 3.30%             | 2038-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Tolomato Community Development District                                      | TOLOMATO FL CDD                                              | CUSIP: 889560CK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    720000 | PA      | $674251.20    | 0.24%             | 2039-05-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Camden County Improvement Authority/The                                      | CAMDEN CNTY NJ IMPT AUTH HLTH CARE REDEV REVENUE             | CUSIP: 13281QAY1<br>LEI: 549300UTQBT9ZE0QFB15 | Long             | DBT              | MUN               | US        |    665000 | PA      | $666216.95    | 0.24%             | 2042-02-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                         | TRIBOROUGH NY BRIDGE & TUNNEL AUTH REVENUES                  | CUSIP: 89602RGP4<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   3800000 | PA      | $4033928.00   | 1.45%             | 2051-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Atlantic City NJ                                                     | ATLANTIC CITY NJ                                             | CUSIP: 048339VY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $141392.40    | 0.05%             | 2042-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                                  | VIRGINIA SMALL BUSINESS FING AUTH PRIV ACTIVITY REVENUE SR   | CUSIP: 928097AC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $946570.00    | 0.34%             | 2052-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Morongo Band of Mission Indians/The                                          | MORONGO BAND OF MISSION                                      | CUSIP: 617734AG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2430000 | PA      | $2573540.10   | 0.92%             | 2039-10-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| McHenry County Community Unit School District No 12 Johnsburg                | MCHENRY CNTY IL CMNTY UNIT SCH DIST #12 JOHNSBURG            | CUSIP: 580849HJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2910000 | PA      | $2963311.20   | 1.06%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                     | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116CZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4405000 | PA      | $4253732.30   | 1.53%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois State Toll Highway Authority                                        | ILLINOIS ST TOLL HIGHWAY AUTH                                | CUSIP: 452252LX5<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |   5575000 | PA      | $5760424.50   | 2.07%             | 2041-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| American Samoa Economic Development Authority                                | AMERICAN SAMOA AS ECON DEV AUTH GEN REVENUE                  | CUSIP: 02936TAJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $449611.25    | 0.16%             | 2024-09-01      | Fixed         | 2.47%                 | No            |                  2 | On Loan: No      |
| City of Detroit MI                                                           | DETROIT MI                                                   | CUSIP: 2510934J6<br>LEI: 549300BQRJP7MKKHOY28 | Long             | DBT              | MUN               | US        |    435000 | PA      | $454844.70    | 0.16%             | 2036-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                         | DIST OF COLUMBIA REVENUE                                     | CUSIP: 25483VSD7<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    185000 | PA      | $174569.70    | 0.06%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                           | SOUTH CAROLINA JOBS-ECON DEV AUTH                            | CUSIP: 83704EAB0<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    100000 | PA      | $104081.00    | 0.04%             | 2025-07-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Leander Independent School District                                          | LEANDER TX INDEP SCH DIST                                    | CUSIP: 521841H41<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4362440.00   | 1.56%             | 2047-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Orleans Aviation Board                                                   | NEW ORLEANS LA AVIATION BRD                                  | CUSIP: 64763HHK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $741315.00    | 0.27%             | 2048-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                     | NATIONAL FIN AUTH NH REVENUE                                 | CUSIP: 63607YAG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    780000 | PA      | $717568.80    | 0.26%             | 2054-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                     | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116AP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1295000 | PA      | $1183720.65   | 0.42%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                     | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116FP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $459283.50    | 0.16%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                         | DIST OF COLUMBIA REVENUE                                     | CUSIP: 25483VWC4<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    105000 | PA      | $91422.45     | 0.03%             | 2044-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue      | NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE               | CUSIP: 64971XKL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1459380.00   | 0.52%             | 2039-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Iowa Finance Authority                                                       | IOWA ST FIN AUTH REVENUE                                     | CUSIP: 46246K4R0<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1211055.00   | 0.43%             | 2038-05-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Township of Freehold NJ                                                      | FREEHOLD TWP NJ                                              | CUSIP: 356502QG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $485599.00    | 0.17%             | 2029-10-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                    | NEW JERSEY ST ECON DEV AUTH SPL FAC REVENUE                  | CUSIP: 64578CAH4<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1900000 | PA      | $1890804.00   | 0.68%             | 2029-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York State Thruway Authority                                             | NEW YORK ST THRUWAY AUTH GEN REVENUE JUNIOR INDEBTEDNESS OBL | CUSIP: 650010CR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4895000 | PA      | $3770912.20   | 1.35%             | 2046-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                  | WASHINGTON ST HSG FIN COMMISSION NONPROFIT HSG REVENUE       | CUSIP: 939783ZA7<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    305000 | PA      | $240315.60    | 0.09%             | 2049-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                     | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116FN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1950000 | PA      | $2000641.50   | 0.72%             | 2038-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                         | TRIBOROUGH NY BRIDGE & TUNNEL AUTH REVENUES                  | CUSIP: 89602RGP4<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5307800.00   | 1.90%             | 2051-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                         | DIST OF COLUMBIA REVENUE                                     | CUSIP: 25483VYC2<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    355000 | PA      | $316021.00    | 0.11%             | 2061-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Yonkers Economic Development Corp                                            | YONKERS NY ECON DEV CORP EDUCTNL REVENUE                     | CUSIP: 98608MAF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $61908.00     | 0.02%             | 2049-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                                  | VIRGINIA ST SMALL BUSINESS FING AUTH REVENUE                 | CUSIP: 928104NY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $908240.00    | 0.33%             | 2040-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                        | MET TRANSPRTN AUTH NY REVENUE                                | CUSIP: 59261AG50<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1520000 | PA      | $1521732.80   | 0.55%             | 2055-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                     | NATIONAL FIN AUTH NH REVENUE                                 | CUSIP: 63607YAE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    265000 | PA      | $244107.40    | 0.09%             | 2039-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                           | NEW YORK ST DORM AUTH SALES TAX REVENUE                      | CUSIP: 64990AGV1<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3715600.00   | 1.33%             | 2047-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Detroit MI                                                           | DETROIT MI                                                   | CUSIP: 2510934N7<br>LEI: 549300BQRJP7MKKHOY28 | Long             | DBT              | MUN               | US        |    680000 | PA      | $698074.40    | 0.25%             | 2040-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Dallas Fort Worth International Airport                                      | DALLAS-FORT WORTH TX INTERNATIONAL ARPT REVENUE              | CUSIP: 235036L65<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1735000 | PA      | $1768606.95   | 0.63%             | 2031-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Niagara Area Development Corp                                                | NIAGARA NY AREA DEV CORP SOLID WASTE DISP FAC REVENUE        | CUSIP: 653542AC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1778080.00   | 0.64%             | 2042-11-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Palm Beach County Health Facilities Authority                                | PALM BEACH CNTY FL HLTH FACS AUTH REVENUE                    | CUSIP: 696507VK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    780000 | PA      | $608259.60    | 0.22%             | 2041-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Yonkers Economic Development Corp                                            | YONKERS NY ECON DEV CORP EDUCTNL REVENUE                     | CUSIP: 98608MAG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $95854.00     | 0.03%             | 2054-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas Private Activity Bond Surface Transportation Corp                      | TEXAS ST PRIV ACTIVITY BOND SURFACE TRANSPRTN CORP REVENUE   | CUSIP: 882667AU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $186566.40    | 0.07%             | 2035-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                   | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505PL4<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   6410000 | PA      | $6152061.60   | 2.21%             | 2042-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| American Samoa Economic Development Authority                                | AMERICAN SAMOA AS ECON DEV AUTH GEN REVENUE                  | CUSIP: 02936TAK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1115000 | PA      | $995572.35    | 0.36%             | 2027-09-01      | Fixed         | 3.72%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                       | CALIFORNIA STWD CMNTYS DEV AUTH REVENUE                      | CUSIP: 13080SEY6<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4075920.00   | 1.46%             | 2024-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| City of Henderson KY                                                         | HENDERSON KY EXEMPT FACS REVENUE                             | CUSIP: 425099AB4<br>LEI: 549300UJ32J1O26W1T80 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $887340.00    | 0.32%             | 2052-01-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp                                       | NEW YORK CITY NY HSG DEV CORP MF HSG REVENUE                 | CUSIP: 64972CG72<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $890990.00    | 0.32%             | 2042-11-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                        | PENNSYLVANIA ST ECON DEV FING AUTH T/E PRIVATE ACTIVITY REV  | CUSIP: 70868YAX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $996710.00    | 0.36%             | 2057-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                         | DIST OF COLUMBIA REVENUE                                     | CUSIP: 25483VUX0<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1090000 | PA      | $979528.50    | 0.35%             | 2056-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                     | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PVV4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    250000 | PA      | $181982.50    | 0.07%             | 2052-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                   | MICHIGAN ST FIN AUTH REVENUE                                 | CUSIP: 59447PF48<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   2070000 | PA      | $2114546.40   | 0.76%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade FL                                                      | MIAMI-DADE CNTY FL PROFESSIONAL SPORTS FRANCHISE FACS TAX RE | CUSIP: 59333HCD6<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4964680.00   | 1.78%             | 2034-10-01      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                    | NEW JERSEY ST ECON DEV AUTH SPL FAC REVENUE                  | CUSIP: 64578CAG6<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    170000 | PA      | $170430.10    | 0.06%             | 2023-09-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Oregon State Facilities Authority                                            | OREGON ST FACS AUTH REVENUE                                  | CUSIP: 68608JYW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1155465.00   | 0.41%             | 2041-07-01      | Fixed         | 3.51%                 | No            |                  2 | On Loan: No      |
| Jackson County School District No 6 Central Point                            | JACKSON CNTY OR SCH DIST #6 CENTRL POINT                     | CUSIP: 467754HW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    710000 | PA      | $305079.90    | 0.11%             | 2041-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Kentucky State University                                                    | KENTUCKY ST UNIV COPS                                        | CUSIP: 491588AQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $244032.50    | 0.09%             | 2041-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Southwestern Illinois Development Authority                                  | S WSTRN IL DEV AUTH HLTH FAC REVENUE                         | CUSIP: 84553AAC6<br>LEI: 549300B1KLLJ8NU5XK71 | Long             | DBT              | MUN               | US        |    770000 | PA      | $794832.50    | 0.29%             | 2033-11-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| County of Muskingum OH                                                       | MUSKINGUM CNTY OH HOSP FACS                                  | CUSIP: 628077CK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $860790.00    | 0.31%             | 2048-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                     | NEW HAMPSHIRE ST BUSINESS FINAUTH SOL WST DISP REVENUE       | CUSIP: 64468VAK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    560000 | PA      | $490806.40    | 0.18%             | 2029-04-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| City of Atlanta GA Airport Passenger Facility Charge                         | ATLANTA GA ARPT PASSENGER FAC CHARGE REVENUE                 | CUSIP: 04780TDM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4755950.00   | 1.71%             | 2038-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Hospital Facilities Authority of Multnomah County Oregon                     | MULTNOMAH CNTY OR HOSP FACS AUTH REVENUE                     | CUSIP: 62551PDA2<br>LEI: 549300GAP0JIG7V33754 | Long             | DBT              | MUN               | US        |   1480000 | PA      | $1106906.80   | 0.40%             | 2051-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York Power Authority                                                     | NEW YORK ST PWR AUTH REVENUE                                 | CUSIP: 64989KLH7<br>LEI: I5P1GEYFGGMMDOFX2L30 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1787540.00   | 0.64%             | 2060-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency Inc                                                     | CAPITAL TRUST AGY FL EDUCTNL FACS REVENUE                    | CUSIP: 14054CBB4<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    395000 | PA      | $356799.55    | 0.13%             | 2048-06-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Maryland Economic Development Corp                                           | MARYLAND ST ECON DEV CORP ECON DEV REVENUE                   | CUSIP: 57420NDK4<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1239360.00   | 0.44%             | 2042-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Uptown Development Authority                                                 | UPTOWN DEV AUTH TX INCR CONTRACT REVENUE                     | CUSIP: 916856HH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1160000 | PA      | $884117.20    | 0.32%             | 2040-09-01      | Fixed         | 3.46%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                         | CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE                 | CUSIP: 167593Y48<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1579245.00   | 0.57%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                        | MET TRANSPRTN AUTH NY REVENUE                                | CUSIP: 59261AZY6<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   6225000 | PA      | $5615697.00   | 2.01%             | 2048-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Development Authority of Rockdale County                                     | ROCKDALE CNTY GA DEV AUTH                                    | CUSIP: 773008AR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1445000 | PA      | $1310889.55   | 0.47%             | 2038-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Dallas Fort Worth International Airport                                      | DALLAS-FORT WORTH TX INTERNATIONAL ARPT REVENUE              | CUSIP: 235036L57<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1147477.50   | 0.41%             | 2030-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                   | ILLINOIS ST FIN AUTH REVENUE                                 | CUSIP: 45204EFG8<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2515225.00   | 0.90%             | 2036-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Maryland Economic Development Corp                                           | MARYLAND ST ECON DEV CORP SPL OBLIG                          | CUSIP: 57422FAF3<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |    140000 | PA      | $109657.80    | 0.04%             | 2050-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Onondaga Civic Development Corp                                              | ONONDAGA NY CIVIC DEV CORP                                   | CUSIP: 682832GW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1610000 | PA      | $1205986.60   | 0.43%             | 2041-12-01      | Fixed         | 3.16%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                     | ARIZONA ST INDL DEV AUTH EDU REVENUE                         | CUSIP: 04052BHZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    560000 | PA      | $496238.40    | 0.18%             | 2049-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                           | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | CUSIP: 65000BNZ7<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5389050.00   | 1.93%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL                                                           | CHICAGO IL                                                   | CUSIP: 167486E39<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5086600.00   | 1.82%             | 2049-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                     | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116AM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    460000 | PA      | $432193.00    | 0.16%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Palm Beach County Health Facilities Authority                                | PALM BEACH CNTY FL HLTH FACS AUTH REVENUE                    | CUSIP: 696507VM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $727425.00    | 0.26%             | 2027-07-01      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| District of Columbia                                                         | DIST OF COLUMBIA REVENUE                                     | CUSIP: 25483VVP6<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    185000 | PA      | $181621.90    | 0.07%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Urban Development Corp                                        | NEW YORK ST URBAN DEV CORP REVENUE                           | CUSIP: 650036CF1<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |   6900000 | PA      | $7395489.00   | 2.65%             | 2044-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Hawaii Department of Budget & Finance                               | HAWAII ST DEPT OF BUDGET & FIN SPL PURPOSE REVENUE           | CUSIP: 419800LY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2520000 | PA      | $2057630.40   | 0.74%             | 2039-07-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Lee County Industrial Development Authority/FL                               | LEE CNTY FL INDL DEV AUTH HLTHCR FACS REVENUE                | CUSIP: 52349EDV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1808190.00   | 0.65%             | 2039-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                     | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57584YMG1<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    470000 | PA      | $491977.20    | 0.18%             | 2033-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Turnpike Authority                                            | NORTH CAROLINA ST TURNPIKE AUTH                              | CUSIP: 65830RAS8<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |  13000000 | PA      | $7368270.00   | 2.64%             | 2036-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                                  | VIRGINIA SMALL BUSINESS FING AUTH PRIV ACTIVITY REVENUE SR   | CUSIP: 928097AB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1432245.00   | 0.51%             | 2049-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                           | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | CUSIP: 65000BNH7<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1770000 | PA      | $1806338.10   | 0.65%             | 2052-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority                                        | CSCDA CMNTY IMPT AUTH CA ESSENTIAL HSG REVENUE               | CUSIP: 126292BB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3145000 | PA      | $2092997.50   | 0.75%             | 2057-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Clackamas County Hospital Facility Authority                                 | CLACKAMAS CNTY OR HOSP FAC AUTH REVENUE                      | CUSIP: 179027YM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $109628.75    | 0.04%             | 2050-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                             | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                    | CUSIP: 13033LY35<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |    165000 | PA      | $166666.50    | 0.06%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency Inc                                                     | CAPITAL TRUST AGY FL EDUCTNL FACS REVENUE                    | CUSIP: 14054CBA6<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    210000 | PA      | $199936.80    | 0.07%             | 2038-06-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                    | NEW JERSEY ST ECON DEV AUTH REV                              | CUSIP: 64577XEE2<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2023980.00   | 0.73%             | 2052-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tempe Industrial Development Authority                                       | TEMPE AZ INDL DEV AUTH REVENUE                               | CUSIP: 87972MAW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $816399.00    | 0.29%             | 2037-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Texas Water Development Board                                                | TEXAS WTR DEV BRD ST WTR IMPLEMENTATION REVENUE FUND         | CUSIP: 88285ABH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5533850.00   | 1.98%             | 2030-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Texas Regional Mobility Authority                                    | CENTRL TX REGL MOBILITY AUTH REVENUE                         | CUSIP: 155498DV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $792847.50    | 0.28%             | 2045-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                    | NEW JERSEY ST ECON DEV AUTH REVENUE                          | CUSIP: 64577B5F7<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    740000 | PA      | $754533.60    | 0.27%             | 2043-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                     | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PPE9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    175000 | PA      | $157050.25    | 0.06%             | 2050-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                     | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57584YSK6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1555000 | PA      | $1677067.50   | 0.60%             | 2049-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Finance Authority of Maine                                                   | MAINE ST FIN AUTH SOL WST DISP REVENUE                       | CUSIP: 56042CAT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $726094.75    | 0.26%             | 2035-08-01      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| City of Atlantic Beach FL                                                    | ATLANTIC BEACH FL HLTH CARE FACS REVENUE                     | CUSIP: 048251AY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3405000 | PA      | $3321100.80   | 1.19%             | 2037-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                            | ILLINOIS ST                                                  | CUSIP: 452152YJ4<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3504830.00   | 1.26%             | 2036-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Higher Education Student Assistance Authority                     | NEW JERSEY ST HGR EDU ASSISTANCE AUTH STUDENT LOAN REVENUE   | CUSIP: 646080QB0<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |   1445000 | PA      | $1422718.10   | 0.51%             | 2043-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finance Corp                    | TARRANT CNTY TX CULTURAL EDU FACS FIN CORP RETMNT FAC REVENU | CUSIP: 87638RKF3<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1270813.20   | 0.46%             | 2041-11-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                         | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FTJ3<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1110000 | PA      | $834320.40    | 0.30%             | 2058-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cook County High School District No 203 New Trier Township                   | COOK CNTY IL HIGH SCH DIST #203 NEW TRIER TWP                | CUSIP: 215489PH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2430000 | PA      | $2080395.90   | 0.75%             | 2033-12-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Township of Freehold NJ                                                      | FREEHOLD TWP NJ                                              | CUSIP: 356502QH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1035000 | PA      | $848772.45    | 0.30%             | 2030-10-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Hospital Facilities Authority of Multnomah County Oregon                     | MULTNOMAH CNTY OR HOSP FACS AUTH REVENUE                     | CUSIP: 62551PCE5<br>LEI: 549300GAP0JIG7V33754 | Long             | DBT              | MUN               | US        |    360000 | PA      | $360968.40    | 0.13%             | 2024-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Airport Comm-San Francisco International Airport | SAN FRANCISCO CALIF CITY &CNTY ARPTS COMMN INTL ARPT REV     | CUSIP: 79766DMB2<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6078480.00   | 2.18%             | 2049-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                     | PUBLIC FIN AUTH WI SENIOR LIVING REVENUE                     | CUSIP: 74443UAZ6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    630000 | PA      | $578629.80    | 0.21%             | 2037-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Montgomery County Higher Education and Health Authority                      | MONTGOMERY CNTY PA HGR EDU & HLTH AUTH                       | CUSIP: 613603G94<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2888310.00   | 1.04%             | 2057-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                                  | VIRGINIA ST SMALL BUSINESS FING AUTH REVENUE                 | CUSIP: 928104NW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $929460.00    | 0.33%             | 2038-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                     | NATIONAL FIN AUTH NH REVENUE                                 | CUSIP: 63607YAC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1555000 | PA      | $1405377.90   | 0.50%             | 2042-11-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finance Corp                    | TARRANT CNTY TX CULTURAL EDU FACS FIN CORP HOSP REVENUE      | CUSIP: 87638QJC4<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3553060.00   | 1.27%             | 2039-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Grand Parkway Transportation Corp                                            | GRAND PARKWAY TRANSPRTN CORP TX SYS TOLL REVENUE             | CUSIP: 38611TAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $878386.25    | 0.32%             | 2043-10-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Harris County Cultural Education Facilities Finance Corp                     | HARRIS CNTY TX CULTURAL EDU FACS FIN CORP REVENUE            | CUSIP: 414009HG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    165000 | PA      | $165084.15    | 0.06%             | 2028-01-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                            | ILLINOIS ST                                                  | CUSIP: 452152T84<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $5542680.00   | 1.99%             | 2037-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                   | ILLINOIS ST FIN AUTH REVENUE                                 | CUSIP: 45203HP71<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $913140.00    | 0.33%             | 2039-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Omaha Public Power District                                                  | OMAHA NE PUBLIC PWR DIST ELEC REVENUE                        | CUSIP: 682001HP0<br>LEI: 54930000VJEJ9CGIYG32 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4411200.00   | 1.58%             | 2047-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Thruway Authority                                             | NEW YORK ST THRUWAY AUTH PERSONAL INCOME TAX REVENUE         | CUSIP: 650028ZA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $639732.00    | 0.23%             | 2048-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                    | NEW JERSEY ST ECON DEV AUTH REVENUE                          | CUSIP: 6459182A0<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1252337.50   | 0.45%             | 2034-01-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Kalispel Tribe of Indians                                                    | KALISPEL TRIBE OF INDIANS PRIORITY DIST WA REVENUE           | CUSIP: 48340PAS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    390000 | PA      | $407686.50    | 0.15%             | 2038-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                         | DIST OF COLUMBIA REVENUE                                     | CUSIP: 25483VWD2<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    135000 | PA      | $113435.10    | 0.04%             | 2049-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tulsa County Industrial Authority                                            | TULSA CNTY OK INDL AUTH SENIOR LIVING CMNTY REVENUE          | CUSIP: 899530AY5<br>LEI: 549300WEYXBXLGN1E271 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001630.00   | 0.36%             | 2037-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Development Authority of Burke County/The                                    | BURKE CNTY GA DEV AUTH POLL CONTROL REVENUE                  | CUSIP: 121342PL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5750000 | PA      | $4922805.00   | 1.77%             | 2045-11-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                     | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57584X4P3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1665807.00   | 0.60%             | 2057-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bexar County Health Facilities Development Corp                              | BEXAR CNTY TX HLTH FACS DEV CORP                             | CUSIP: 088354GK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $801337.50    | 0.29%             | 2037-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                    | HOUSTON TX ARPT SYS REVENUE                                  | CUSIP: 442349GA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2041152.00   | 0.73%             | 2041-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                                  | VIRGINIA ST SMALL BUSINESS FING AUTH REVENUE                 | CUSIP: 928104PQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $614054.25    | 0.22%             | 2039-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Military Installation Development Authority                                  | MILITARY INSTALLATION DEV AUTH UT TAX ALLOCATION REVENUE     | CUSIP: 599772AB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $398005.00    | 0.14%             | 2041-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Lower Colorado River Authority                                               | LOWER COLORADO RIVER TX AUTH TRANSMISSION CONTRACT REVENUE   | CUSIP: 54811BZS3<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2142780.00   | 0.77%             | 2047-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Bexar County Health Facilities Development Corp                              | BEXAR CNTY TX HLTH FACS DEV CORP                             | CUSIP: 088354GL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $638855.00    | 0.23%             | 2042-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas Water Development Board                                                | TEXAS WTR DEV BRD ST WTR IMPLEMENTATION REVENUE FUND         | CUSIP: 88285ABJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1541850.00   | 0.55%             | 2052-10-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| South Jersey Transportation Authority                                        | S JERSEY NJ TRANSPRTN AUTH TRANSPRTN SYS REVENUE             | CUSIP: 838536MR8<br>LEI: 549300W8SZI2CAOKT956 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1016480.00   | 0.36%             | 2052-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp                          | NEW HOPE CULTURAL EDU FACS FIN CORP TX STUDENT HSG REV       | CUSIP: 64542RDA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $465763.70    | 0.17%             | 2047-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Joaquin Hills Transportation Corridor Agency                             | SAN JOAQUIN HILLS CA TRANSPRTN CORRIDOR AGY TOLL ROAD REV    | CUSIP: 798111GK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6400000 | PA      | $6705280.00   | 2.40%             | 2050-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Baltimore MD                                                         | BALTIMORE MD SPL OBLIG                                       | CUSIP: 05923TDA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $300297.60    | 0.11%             | 2042-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                  | WASHINGTON ST HSG FIN COMMISSION NONPROFIT HSG REVENUE       | CUSIP: 939783TD8<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1041086.40   | 0.37%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                   | ILLINOIS ST FIN AUTH REVENUE                                 | CUSIP: 45204EFF0<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1190000 | PA      | $1195117.00   | 0.43%             | 2034-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Salt Verde Financial Corp                                                    | SALT VERDE AZ FINANCIAL CORP SENIOR GAS REVENUE              | CUSIP: 79575EAS7<br>LEI: 549300VEWOZY6TQOIF03 | Long             | DBT              | MUN               | US        |   1605000 | PA      | $1633440.60   | 0.59%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                              | NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE     | CUSIP: 64972GC44<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000000.00   | 0.72%             | 2044-06-15      | Floating      | 3.40%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL                                                           | CHICAGO IL                                                   | CUSIP: 167486MM8<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1521492.00   | 0.55%             | 2035-01-01      | Fixed         | 7.78%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                     | ARIZONA ST INDL DEV AUTH EDU REVENUE                         | CUSIP: 04052BLS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    185000 | PA      | $139417.85    | 0.05%             | 2050-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Township of Freehold NJ                                                      | FREEHOLD TWP NJ                                              | CUSIP: 356502QJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    975000 | PA      | $770815.50    | 0.28%             | 2031-10-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Health and Education Facilities Authority Act                  | NEW HAMPSHIRE ST HLTH & EDU FACS AUTH REVENUE                | CUSIP: 64461XFV2<br>LEI: 549300CNCK7OT82W5653 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2074100.00   | 0.74%             | 2059-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chattanooga Health Educational & Housing Facility Board                      | CHATTANOOGA TN HLTH EDUCTNL &HSG FAC BRD REVENUE             | CUSIP: 162410EM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    670000 | PA      | $578377.50    | 0.21%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Hospital Equipment Loan Council                                   | NEW MEXICO ST HOSP EQUIPMENT LOAN COUNCIL 1ST MTGE REVENUE   | CUSIP: 647377AK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $45602.00     | 0.02%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Thruway Authority                                             | NEW YORK ST THRUWAY AUTH PERSONAL INCOME TAX REVENUE         | CUSIP: 650028XE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $946840.00    | 0.34%             | 2044-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Golden State Tobacco Securitization Corp                                     | GOLDEN ST TOBACCO SECURITIZATION CORP CA TOBACCO SETTLEMENT  | CUSIP: 38122ND90<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    780000 | PA      | $801411.00    | 0.29%             | 2051-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-03

**Name of Applicant:** Eaton Vance National Municipal Opportunities Trust

**Signature:** James Kirchner

**Name of Signer:** James Kirchner

**Title:** Treasurer