# EDGAR Filing Document

**Accession Number:** 0001995668
**File Stem:** 0002071691-25-008884
**Filing Date:** 2025-12
**Character Count:** 67480
**Document Hash:** a18d70f7bdf24b9904fe9f83fa5131ba
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-008884.hdr.sgml**: 20251222

**ACCESSION NUMBER**: 0002071691-25-008884

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251222

**DATE AS OF CHANGE**: 20251222

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NYLI MacKay Muni Income Opportunities Fund
- **CENTRAL INDEX KEY:** 0001995668

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23905
- **FILM NUMBER:** 251589864

**BUSINESS ADDRESS:**
- **STREET 1:** 51 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
- **BUSINESS PHONE:** 212-576-7000

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MainStay MacKay Municipal Income Opportunities Fund
- **DATE OF NAME CHANGE:** 20230929

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** NYLI MacKay Muni Income Opportunities Fund

- **b. Investment Company Act file number:** 811-23905

- **c. CIK number of Registrant:** 0001995668

- **d. LEI of Registrant:** 2549007YC90SGXHPXS02

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

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

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10010

  - **Telephone number:** 212-576-7000

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

- **a. Name of Series:** NYLI MacKay Muni Income Opportunities Fund

- **c. LEI of Series:** 2549007YC90SGXHPXS02

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-10-31

**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:** $125074666.01

**Total Liabilities:** $24771010.33

**Net Assets:** $100303655.68

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** -180.76000000 | **5-Year:** -2548.79000000 | **10-Year:** -20828.11000000 | **30-Year:** -40513.59000000

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

- **3-Month:** -24.83000000 | **1-Year:** -67.48000000 | **5-Year:** -568.92000000 | **10-Year:** -10247.52000000 | **30-Year:** -21086.32000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 1.02%                | 3.47%                | 1.47%                |
| Class ID N/A | 0.94%                | 3.49%                | 1.59%                |
| Class ID N/A | 1.09%                | 3.53%                | 1.54%                |
| Class ID N/A | 1.04%                | 3.49%                | 1.50%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-386261.44              | $1020056.06                                |
| Month 2  | $73187.31                | $2974166.57                                |
| Month 3  | $86862.61                | $1100955.42                                |

**Designated Index Information**

- **Index Name:** B8020

- **Index Identifier:** B8020

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Matching Fund Special Purpose Securitization Corp.                  | Matching Fund Special Purpose Securitization Corp., Series A           | CUSIP: 57665NAG0<br>LEI: N/A                  | Long             | DBT              | MUN               | VI        |   1000000 | PA      | $1024025.60   | 1.02%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Education Assistance Agency                     | Pennsylvania Higher Education Assistance Agency, Series 1-A            | CUSIP: 70878CBH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    870000 | PA      | $857281.04    | 0.85%             | 2045-06-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                  | New York State Dormitory Authority                                     | CUSIP: 65000B7Y8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2146695.00   | 2.14%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                         | Commonwealth of Puerto Rico                                            | CUSIP: 74514L4D6<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    420000 | PA      | $142275.00    | 0.14%             | 2051-11-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| City of Stockton Community Facilities District No. 2018-2           | City of Stockton Community Facilities District No. 2018-2              | CUSIP: 861341TG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    380000 | PA      | $391378.00    | 0.39%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Verk Industrial Regional Public Infrastructure District             | Verk Industrial Regional Public Infrastructure District                | CUSIP: 92348YAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $367435.64    | 0.37%             | 2047-09-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Lake Houston Redevelopment Authority                                | Lake Houston Redevelopment Authority                                   | CUSIP: 51001QAM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $244278.78    | 0.24%             | 2035-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Allegheny County Sanitary Authority                                 | Allegheny County Sanitary Authority                                    | CUSIP: 017357N67<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1093184.70   | 1.09%             | 2047-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                       | Main Street Natural Gas, Inc., Series B                                | CUSIP: 56035DFC1<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    500000 | PA      | $536072.80    | 0.53%             | 2053-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finance Corp.          | Tarrant County Cultural Education Facilities Finance Corp., Series B   | CUSIP: 87638RGY7<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |    500000 | PA      | $482869.30    | 0.48%             | 2046-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power                             | Los Angeles Department of Water & Power, Series D                      | CUSIP: 544532AQ7<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    750000 | PA      | $772873.28    | 0.77%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                | Puerto Rico Electric Power Authority, Series VV                        | CUSIP: 74526QPK2<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    285000 | PA      | $285287.74    | 0.28%             | 2026-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Indiana Municipal Power Agency                                      | Indiana Municipal Power Agency, Series A                               | CUSIP: 454898YB7<br>LEI: AX0ZCCVOQ71Z4RXBL233 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1059196.50   | 1.06%             | 2053-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Municipal Electric Authority of Georgia                             | Municipal Electric Authority of Georgia, Series A                      | CUSIP: 62620HHQ8<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1026600.70   | 1.02%             | 2064-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Southern California Public Power Authority                          | Southern California Public Power Authority                             | CUSIP: 842469DJ4<br>LEI: 5493003B5TD5FWUKMD34 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2142665.70   | 2.14%             | 2050-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                         | Commonwealth of Puerto Rico                                            | CUSIP: 74514L4C8<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |   1043876 | PA      | $705920.96    | 0.70%             | 2051-11-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp                 | New Hope Cultural Education Facilities Finance Corp                    | CUSIP: 645424BP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2740447.88   | 2.73%             | 2049-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Iowa Tobacco Settlement Authority                                   | Iowa Tobacco Settlement Authority, Series A-2, Class 1                 | CUSIP: 888805CD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $828224.19    | 0.83%             | 2039-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                       | Main Street Natural Gas, Inc., Series D                                | CUSIP: 56035DHZ8<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1085725.70   | 1.08%             | 2054-04-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Houston                                                     | City of Houston, Series B                                              | CUSIP: 442349HY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1086562.00   | 1.08%             | 2038-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                           | New York Transportation Development Corp., Series A                    | CUSIP: 650116HW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1022190.00   | 1.02%             | 2060-12-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                | Massachusetts Housing Finance Agency, Series 223                       | CUSIP: 57587GLN3<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    500000 | PA      | $436581.45    | 0.44%             | 2033-12-01      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| Clackamas County School District No. 12                             | Clackamas County School District No. 12, Series A                      | CUSIP: 179093LD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    305000 | PA      | $154945.31    | 0.15%             | 2041-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Indiana Municipal Power Agency                                      | Indiana Municipal Power Agency, Series A                               | CUSIP: 454898YV3<br>LEI: AX0ZCCVOQ71Z4RXBL233 | Long             | DBT              | MUN               | US        |    475000 | PA      | $510848.54    | 0.51%             | 2043-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                | Puerto Rico Electric Power Authority, Series NN                        | CUSIP: 74526QAR3<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |     70000 | PA      | $68570.92     | 0.07%             | 2033-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| West Villages Improvement District                                  | West Villages Improvement District                                     | CUSIP: 956454CM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    990000 | PA      | $996525.78    | 0.99%             | 2054-05-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| City of Stockton Community Facilities District No. 2018-2           | City of Stockton Community Facilities District No. 2018-2              | CUSIP: 861341TH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $540552.44    | 0.54%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Hawaii                                                     | State of Hawaii, Series A                                              | CUSIP: 419794J45<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1625000 | PA      | $1753285.58   | 1.75%             | 2054-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Intermountain Power Agency                                          | Intermountain Power Agency, Series A                                   | CUSIP: 45884AG31<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $792058.73    | 0.79%             | 2045-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                           | New York Transportation Development Corp.                              | CUSIP: 650116FC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $789688.65    | 0.79%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hillsborough County Aviation Authority                              | Hillsborough County Aviation Authority, Series B                       | CUSIP: 432308X25<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1603669.38   | 1.60%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Omaha Airport Authority                                             | Omaha Airport Authority                                                | CUSIP: 681725NK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2094678.10   | 2.09%             | 2049-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| East Montgomery County Municipal Utility District No. 4             | East Montgomery County Municipal Utility District No. 4, Series A      | CUSIP: 27373QAD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1008666.60   | 1.01%             | 2049-04-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Metropolitan Nashville Airport Authority (The)                      | Metropolitan Nashville Airport Authority (The), Series B               | CUSIP: 592190QW5<br>LEI: 549300IC0HNF8TDXEE63 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1085579.80   | 1.08%             | 2041-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Stockton Community Facilities District No. 2018-2           | City of Stockton Community Facilities District No. 2018-2              | CUSIP: 861341TJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $641036.88    | 0.64%             | 2054-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                          | Michigan Finance Authority                                             | CUSIP: 59447NBD7<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $960692.00    | 0.96%             | 2054-02-28      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Tulsa Municipal Airport Trust Trustees                              | Tulsa Municipal Airport Trust Trustees                                 | CUSIP: 899661EM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $346251.09    | 0.35%             | 2035-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                             | South Carolina Public Service Authority, Series B                      | CUSIP: 8371514S5<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1082224.60   | 1.08%             | 2042-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                | Puerto Rico Electric Power Authority, Series TT                        | CUSIP: 74526QSY9<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |     25000 | PA      | $24970.73     | 0.02%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Saltleaf Community Development District                             | Saltleaf Community Development District                                | CUSIP: 79575MAC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1021227.80   | 1.02%             | 2056-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                           | New York Transportation Development Corp., Series A                    | CUSIP: 650116DX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $915688.00    | 0.91%             | 2042-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Columbus Regional Airport Authority                                 | Columbus Regional Airport Authority, Series A                          | CUSIP: 199546DC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1063448.20   | 1.06%             | 2050-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp.                                  | New York Liberty Development Corp., Series A                           | CUSIP: 649519DU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $596284.05    | 0.59%             | 2041-11-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                            | New Hampshire Business Finance Authority, Series A                     | CUSIP: 63610HAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $954075.42    | 0.95%             | 2034-04-01      | Fixed         | 6.89%                 | Yes           |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                | Puerto Rico Electric Power Authority, Series UU                        | CUSIP: 74526QLW0<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    120000 | PA      | $118785.74    | 0.12%             | 2027-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Delaware State Housing Authority                                    | Delaware State Housing Authority, Series A                             | CUSIP: 246395N60<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    990000 | PA      | $1084651.23   | 1.08%             | 2056-01-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| County of Pasco                                                     | County of Pasco, Series A                                              | CUSIP: 70252AAX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1075936.40   | 1.07%             | 2054-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Eaton Vance Municipal Bond Fund                                     | Eaton Vance Municipal Bond Fund                                        | CUSIP: 27827X101<br>LEI: 5493006Q4EBOXVQBQD12 | Long             |  | RF                | US        |     12142 | NS      | $120934.32    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| New York City Housing Development Corp.                             | New York City Housing Development Corp., Series G-1                    | CUSIP: 64972CCP6<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    275000 | PA      | $254366.15    | 0.25%             | 2045-05-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| N/A                                                                 | U.S. Treasury Long Bonds                                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -60 | NC      | $13357.99     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Commonwealth of Puerto Rico                                         | Commonwealth of Puerto Rico                                            | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    828571 | PA      | $530285.72    | 0.53%             | 2043-11-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Education Assistance Agency                     | Pennsylvania Higher Education Assistance Agency, Series 1-A            | CUSIP: 70878CBS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1012155.80   | 1.01%             | 2046-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                | Chicago O'Hare International Airport, Series A                         | CUSIP: 1675934T6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1057012.20   | 1.05%             | 2059-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Tuscaloosa County Industrial Development Authority                  | Tuscaloosa County Industrial Development Authority, Series A           | CUSIP: 90068FAZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $503480.25    | 0.50%             | 2044-05-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| City of Chicago Lakeshore East Special Assessment Area              | City of Chicago                                                        | CUSIP: 167686AM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $313923.42    | 0.31%             | 2030-12-01      | Fixed         | 3.29%                 | Yes           |                  2 | On Loan: No      |
| Intermountain Power Agency                                          | Intermountain Power Agency, Series A                                   | CUSIP: 45884AG23<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1059933.80   | 1.06%             | 2044-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                            | New Hampshire Business Finance Authority, Series 2                     | CUSIP: 63607WAU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    618919 | PA      | $592602.10    | 0.59%             | 2039-08-20      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| City of Houston                                                     | City of Houston, Series A                                              | CUSIP: 442349JS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1092924.70   | 1.09%             | 2044-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade                                                | County of Miami-Dade                                                   | CUSIP: 59333FA83<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |    625000 | PA      | $486367.75    | 0.48%             | 2040-07-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Mansfield Independent School District                               | Mansfield Independent School District                                  | CUSIP: 564386VN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2678033.28   | 2.67%             | 2055-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Harris County Municipal Utility District No. 16                     | Harris County Municipal Utility District No. 16                        | CUSIP: 414973GE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    520000 | PA      | $512616.42    | 0.51%             | 2034-03-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Perry County School District Finance Corp.                          | Perry County School District Finance Corp.                             | CUSIP: 714559TA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $504522.64    | 0.50%             | 2029-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp.                                  | New York Liberty Development Corp., Series A                           | CUSIP: 649519DT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $858344.30    | 0.86%             | 2036-11-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                 | Pennsylvania Housing Finance Agency, Series 138-A                      | CUSIP: 70879QRC9<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |    385000 | PA      | $376155.13    | 0.38%             | 2052-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                     | California Community Choice Financing Authority, Series C              | CUSIP: 13013JEB8<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    875000 | PA      | $939287.21    | 0.94%             | 2055-08-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Wind Meadows South Community Development District                   | Wind Meadows South Community Development District                      | CUSIP: 97316TAD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $427566.48    | 0.43%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Salt Lake City Airport                                      | City of Salt Lake City, Series A                                       | CUSIP: 795576MC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1056716.10   | 1.05%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Toll Road Investors Partnership II LP                               | Toll Road Investors Partnership II LP, Series A                        | CUSIP: 88948AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1014533.54   | 1.01%             | 2035-02-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Norman Regional Hospital Authority                                  | Norman Regional Hospital Authority                                     | CUSIP: 656178DN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    480000 | PA      | $330583.30    | 0.33%             | 2037-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Authority                                             | Capital Trust Authority Educational Facilities, Series B               | CUSIP: 14054WBS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $106051.67    | 0.11%             | 2028-06-15      | Fixed         | 6.70%                 | Yes           |                  2 | On Loan: No      |
| Nevada Housing Division                                             | Nevada Housing Division, Series E                                      | CUSIP: 641279ZJ6<br>LEI: 549300RE377OK3CTT852 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1212078.80   | 1.21%             | 2049-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                     | California Community Choice Financing Authority, Series G              | CUSIP: 13013JFS0<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    750000 | PA      | $801620.48    | 0.80%             | 2055-11-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Houston                                                     | City of Houston, Series A                                              | CUSIP: 442349AU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $671197.09    | 0.67%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Downtown Revitalization Public Infrastructure District              | Downtown Revitalization Public Infrastructure District, Series A       | CUSIP: 26118TAW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2715989.23   | 2.71%             | 2050-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Florida Municipal Loan Council                                      | Florida Municipal Loan Council                                         | CUSIP: 34281UAB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    655000 | PA      | $668994.73    | 0.67%             | 2044-05-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Hillsborough County Port District                                   | Hillsborough County Port District, Series B                            | CUSIP: 432325JN9<br>LEI: 549300HV3CIZREMO9Q36 | Long             | DBT              | MUN               | US        |    450000 | PA      | $456224.54    | 0.45%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finance Corporation    | Tarrant County Cultural Education Facilities Finance Corporation       | CUSIP: 87638TJR5<br>LEI: 549300R0Y505NVTMMI25 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2180885.74   | 2.17%             | 2052-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Adelanto Community Facilities District                              | Adelanto Community Facilities District No. 2006-2, Series B            | CUSIP: 006784AE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $625177.00    | 0.62%             | 2030-09-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Southwestern Illinois Development Authority                         | Southwestern Illinois Development Authority, Series B                  | CUSIP: 84552YTM3<br>LEI: 549300B1KLLJ8NU5XK71 | Long             | DBT              | MUN               | US        |    500000 | PA      | $535563.35    | 0.53%             | 2050-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Mobile County Industrial Development Authority                      | Mobile County Industrial Development Authority, Series A               | CUSIP: 60733UAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $486090.95    | 0.48%             | 2054-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisville/Jefferson County Metropolitan Government                 | Louisville and Jefferson County Metro Government, Series A             | CUSIP: 546749AR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $986584.20    | 0.98%             | 2035-02-01      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                         | Washington State Housing Finance Commission, Series 2                  | CUSIP: 93978UAA4<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    372535 | PA      | $364710.50    | 0.36%             | 2050-03-01      | Variable      | 4.22%                 | No            |                  2 | On Loan: No      |
| MidCity Improvement District                                        | MidCity Improvement District                                           | CUSIP: 59564KAE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $282208.66    | 0.28%             | 2044-11-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Kentwood Economic Development Corp.                                 | Kentwood Economic Development Corp.                                    | CUSIP: 491740ET9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $24989.07     | 0.02%             | 2025-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Iowa Tobacco Settlement Authority                                   | Iowa Tobacco Settlement Authority, Series A-2, Class 1                 | CUSIP: 888805BZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $302082.09    | 0.30%             | 2035-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Georgetown TX Utility System                                | City of Georgetown TX Utility System                                   | CUSIP: 373064Q56<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1303475.53   | 1.30%             | 2052-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                           | New York Transportation Development Corp.                              | CUSIP: 650116JK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1356357.52   | 1.35%             | 2050-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Toledo Hospital (The)                                               | Toledo Hospital (The)                                                  | CUSIP: 889184AD9<br>LEI: 5493009DCR7NWV6K4T34 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2014522.70   | 2.01%             | 2038-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| New York City Industrial Development Agency                         | New York City Industrial Development Agency, Series A                  | CUSIP: 64971PLK9<br>LEI: 549300XR20ZR5DHL9534 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $777959.80    | 0.78%             | 2046-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| TSASC, Inc.                                                         | TSASC, Inc., Series B                                                  | CUSIP: 898526FR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1098265.88   | 1.09%             | 2048-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Travis County Development Authority                                 | Travis County Development Authority                                    | CUSIP: 89441AAY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    840000 | PA      | $826890.71    | 0.82%             | 2054-09-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Delaware State Housing Authority                                    | Delaware State Housing Authority, Series C                             | CUSIP: 246395Z42<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $831037.80    | 0.83%             | 2056-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Lake Elsinore Unified School District Community Facilities District | Lake Elsinore Unified School District Community Facilities District    | CUSIP: 509640YP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $892488.30    | 0.89%             | 2050-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Education Assistance Agency                     | Pennsylvania Higher Education Assistance Agency, Series 1-C            | CUSIP: 70878CBJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $977142.90    | 0.97%             | 2051-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                            | Public Finance Authority, Series B                                     | CUSIP: 74446DAQ1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    250000 | PA      | $266552.45    | 0.27%             | 2054-09-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Prairie Center Metropolitan District No. 3                          | Prairie Center Metropolitan District No. 3, Series B                   | CUSIP: 739476AH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1054607.00   | 1.05%             | 2046-12-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Michigan Strategic Fund                                             | Michigan Strategic Fund                                                | CUSIP: 594698QV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $98498.89     | 0.10%             | 2048-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Reunion East Community Development District                         | Reunion East Community Development District                            | CUSIP: 761311AU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $469121.05    | 0.47%             | 2031-05-01      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                            | Public Finance Authority, Series B                                     | CUSIP: 74439YGH8<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500827.05    | 0.50%             | 2026-06-01      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Denver City & County School District                                | Denver City & County School District                                   | CUSIP: 249174ZN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1661396.56   | 1.66%             | 2049-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BlackRock Liquidity Funds MuniCash                                  | BlackRock Liquidity Funds MuniCash                                     | CUSIP: 09248U841<br>LEI: 549300RWBJ885673DL84 | Long             | STIV             | RF                | US        |    370818 | NS      | $370854.93    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago O'Hare International Airport                                | Chicago O'Hare International Airport, Series A                         | CUSIP: 1675934S8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1329967.38   | 1.33%             | 2053-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Virginia College Building Authority                                 | Virginia College Building Authority                                    | CUSIP: 92778FLY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $801725.40    | 0.80%             | 2050-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                   | Southeast Energy Authority A Cooperative District, Series A            | CUSIP: 84136HBC6<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1069464.79   | 1.07%             | 2056-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| GDB Debt Recovery Authority of Puerto Rico                          | GDB Debt Recovery Authority of Puerto Rico                             | CUSIP: 36829QAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   1915475 | PA      | $1866616.21   | 1.86%             | 2040-08-20      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Brevard County Housing Finance Authority                            | Brevard County Housing Finance Authority                               | CUSIP: 106904FX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    997002 | PA      | $1043717.67   | 1.04%             | 2040-01-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Sacramento City Unified School District                             | Sacramento City Unified School District, Series C                      | CUSIP: 785870R57<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1644471.45   | 1.64%             | 2054-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                | Triborough Bridge & Tunnel Authority, Series A                         | CUSIP: 896032BB4<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1150182.13   | 1.15%             | 2054-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Nuveen AMT-Free Quality Municipal Income Fund                       | Nuveen AMT-Free Quality Municipal Income Fund                          | CUSIP: 670657105<br>LEI: 549300OTYQOOXS64NI63 | Long             |  | RF                | US        |     21165 | NS      | $246572.25    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Florida Housing Finance Corp.                                       | Florida Housing Finance Corp., Series 1                                | CUSIP: 34074MUG4<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |    725000 | PA      | $623226.24    | 0.62%             | 2035-07-01      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| Douglas County Hospital Authority No. 2                             | Douglas County Hospital Authority No. 2                                | CUSIP: 259230QM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    805000 | PA      | $870749.99    | 0.87%             | 2049-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Hillsborough County Industrial Development Authority                | Hillsborough County Industrial Development Authority, Series C         | CUSIP: 43233KAW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1835000 | PA      | $1973833.82   | 1.97%             | 2054-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BlackRock MuniHoldings Fund, Inc.                                   | BlackRock MuniHoldings Fund, Inc.                                      | CUSIP: 09253N104<br>LEI: MZBVMGS24JR92TGE6Z32 | Long             |  | RF                | US        |     49845 | NS      | $585180.30    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Kentucky Public Energy Authority                                    | Kentucky Public Energy Authority, Series B                             | CUSIP: 74440DFQ2<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |    500000 | PA      | $521922.85    | 0.52%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Nuveen AMT-Free Municipal Credit Income Fund                        | Nuveen AMT-Free Municipal Credit Income Fund                           | CUSIP: 67071L106<br>LEI: 549300LBMO1C0IG71T03 | Long             |  | RF                | US        |     27368 | NS      | $343742.08    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Rockland County Economic Assistance Corp.                           | Rockland County Economic Assistance Corp.                              | CUSIP: 77356HAE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    310000 | PA      | $335095.21    | 0.33%             | 2055-11-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| City & County of Denver                                             | City & County of Denver, Series A                                      | CUSIP: 249182LX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2050229.97   | 2.04%             | 2043-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Hampshire Health and Education Facilities Authority Act         | New Hampshire Health and Education Facilities Authority Act, Series B  | CUSIP: 644614RZ4<br>LEI: 549300CNCK7OT82W5653 | Long             | STIV             | MUN               | US        |    500000 | PA      | $500000.00    | 0.50%             | 2041-06-01      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |
| North Carolina Housing Finance Agency                               | North Carolina Housing Finance Agency, Series 45                       | CUSIP: 658207D28<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |    880000 | PA      | $867732.18    | 0.87%             | 2051-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp.                               | Puerto Rico Sales Tax Financing Corp., Series A-1                      | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   3305000 | PA      | $1156205.01   | 1.15%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                            | Massachusetts Development Finance Agency, Series N                     | CUSIP: 57585BPD4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2177836.40   | 2.17%             | 2055-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power                             | Los Angeles Department of Water & Power, Series A                      | CUSIP: 5444956K5<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    510000 | PA      | $544307.85    | 0.54%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                | Puerto Rico Electric Power Authority, Series VV                        | CUSIP: 74526QPM8<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    290000 | PA      | $292328.18    | 0.29%             | 2029-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp.                               | Puerto Rico Sales Tax Financing Corp., Series A-2                      | CUSIP: 74529JRH0<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |     35000 | PA      | $33979.52     | 0.03%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| South Dakota Housing Development Authority                          | South Dakota Housing Development Authority, Series A                   | CUSIP: 83756LBS3<br>LEI: 549300G853EK61667C18 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1139938.30   | 1.14%             | 2055-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                            | Public Finance Authority, Series A-1                                   | CUSIP: 74442PPU3<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1273913.25   | 1.27%             | 2055-01-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp.                               | Puerto Rico Sales Tax Financing Corp., Series A-1                      | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    750000 | PA      | $729777.23    | 0.73%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority               | Pennsylvania Economic Development Financing Authority                  | CUSIP: 70868YAV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1043239.90   | 1.04%             | 2048-06-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority              | California Statewide Communities Development Authority, Series A       | CUSIP: 13080SEX8<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    355000 | PA      | $355019.17    | 0.35%             | 2054-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                 | Pennsylvania Housing Finance Agency, Series 145-A                      | CUSIP: 70879QWN9<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |    480000 | PA      | $520995.31    | 0.52%             | 2054-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Rhode Island Student Loan Authority                                 | Rhode Island Student Loan Authority, Series A                          | CUSIP: 762323DD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    905000 | PA      | $879088.85    | 0.88%             | 2043-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| City of Chicago Lakeshore East Special Assessment Area              | City of Chicago                                                        | CUSIP: 167686AP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $264028.82    | 0.26%             | 2032-12-01      | Fixed         | 3.45%                 | Yes           |                  2 | On Loan: No      |
| Public Finance Authority                                            | Public Finance Authority                                               | CUSIP: 74448UAC2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    275000 | PA      | $302258.44    | 0.30%             | 2065-12-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                         | Commonwealth of Puerto Rico                                            | CUSIP: 74514L4G9<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    511593 | PA      | $303758.24    | 0.30%             | 2051-11-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Pier & Exposition Authority                            | Metropolitan Pier & Exposition Authority, Series A                     | CUSIP: 592250BM5<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1250303.00   | 1.25%             | 2053-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FW Chaparral PFC                                                    | FW Chaparral PFC                                                       | CUSIP: 302701AD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $995393.20    | 0.99%             | 2035-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Orleans Aviation Board                                          | New Orleans Aviation Board, Series C-2                                 | CUSIP: 64763HNG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $541618.05    | 0.54%             | 2041-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BlackRock Municipal Income Trust                                    | BlackRock Municipal Income Trust                                       | CUSIP: 09248F109<br>LEI: R3ITLLW1CUEQICP4XR90 | Long             |  | RF                | US        |     35744 | NS      | $362801.60    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Clackamas County School District No. 12                             | Clackamas County School District No. 12, Series A                      | CUSIP: 179093LJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2580000 | PA      | $1231604.80   | 1.23%             | 2041-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corp.                                  | Tobacco Settlement Financing Corp., Series B                           | CUSIP: 888809BF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1305000 | PA      | $1292143.79   | 1.29%             | 2045-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Industrial Development Authority of the County of Pima (The)        | Industrial Development Authority of the County of Pima (The), Series B | CUSIP: 72177PBW9<br>LEI: 549300QDTQ25545R4K19 | Long             | DBT              | MUN               | US        |    115000 | PA      | $115000.00    | 0.11%             | 2025-11-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finance Corp.          | Tarrant County Cultural Education Facilities Finance Corp.             | CUSIP: 87638RKC0<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |    500000 | PA      | $482253.60    | 0.48%             | 2046-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tennessee Housing Development Agency                                | Tennessee Housing Development Agency, Series 3                         | CUSIP: 880461C89<br>LEI: 25490004PSQYQLFJGI76 | Long             | DBT              | MUN               | US        |    625000 | PA      | $495561.38    | 0.49%             | 2044-07-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                     | California Community Choice Financing Authority, Series C              | CUSIP: 13013JCM6<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1072919.50   | 1.07%             | 2054-01-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                         | Commonwealth of Puerto Rico, Series A-1                                | CUSIP: 74514L3P0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |     83000 | PA      | $73356.43     | 0.07%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp.                                  | New York Liberty Development Corp., Class 1                            | CUSIP: 649519DA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $99998.69     | 0.10%             | 2044-11-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-01

**Name of Applicant:** NYLI MacKay Muni Income Opportunities Fund

**Signature:** Jack Benintende

**Name of Signer:** Jack Benintende

**Title:** Treasurer