# EDGAR Filing Document

**Accession Number:** 0001137360
**File Stem:** 0001752724-23-072049
**Filing Date:** 2023-3
**Character Count:** 307015
**Document Hash:** 024f9455d6a5ce6a086b8d54edbc1dd1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-072049.hdr.sgml**: 20230329

**ACCESSION NUMBER**: 0001752724-23-072049

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230329

**DATE AS OF CHANGE**: 20230329

**PERIOD START**: 20230430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VanEck ETF Trust
- **CENTRAL INDEX KEY:** 0001137360
- **IRS NUMBER:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-10325
- **FILM NUMBER:** 23774187

**BUSINESS ADDRESS:**
- **STREET 1:** 666 THIRD AVENUE, 9TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 212-293-2000

**MAIL ADDRESS:**
- **STREET 1:** 666 THIRD AVENUE, 9TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VanEck Vectors ETF Trust
- **DATE OF NAME CHANGE:** 20160427

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MARKET VECTORS ETF TRUST
- **DATE OF NAME CHANGE:** 20070312

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MARKET VECTORS TRUST
- **DATE OF NAME CHANGE:** 20050516

## Series and Classes Contracts Data

### VanEck Long Muni ETF (Series ID: S000019191)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000053008 | VanEck Long Muni ETF | MLN             |

## Nport-Ex

VANECK LONG MUNI ETF

SCHEDULE OF INVESTMENTS

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
| | **Par <br> (000's** | **Value** |
| **MUNICIPAL BONDS: 98.2%** |  |  |
| **Alabama: 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tuscaloosa City Board of Education, Alabama School Tax (RB)<br> 4.00%, 08/01/26 (c) | $210 | $210766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UAB Medicine Finance Authority, Series B (RB)<br> 5.00%, 09/01/26 (c) | 220 | 229596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UAB Medicine Finance Authority, Series B2 (RB)<br> 4.00%, 03/01/27 (c) | 280 | 281082 |
|  |  | 721444 |
| **Arizona: 1.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Phoenix Civic Improvement Corp., Series A (RB)<br> 5.00%, 07/01/29 (c) | 1000 | 1073401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Phoenix Civic Improvement Corp., Series D (RB)<br> 4.00%, 07/01/27 (c) | 215 | 215539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Phoenix Civic Improvement Corp., Subordinated Excise Tax, Series A (RB)<br> 4.00%, 07/01/30 (c) | 325 | 326884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Phoenix Civic Improvement Corp., Water System, Series A (RB)<br> 5.00%, 07/01/30 (c) | 750 | 837392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pima County, Industrial Development Authority, Tucson Medical Center, Series A (RB)<br> 4.00%, 04/01/31 (c) | 750 | 709965 |
|  |  | 3163181 |
| **Arkansas: 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Rogers, Sales and Use Tax, Series B (RB)<br> 3.25%, 11/01/26 (c) | 25 | 24961 |
| **California: 17.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Abag Finance Authority for Nonprofit Corp., Sharp Healthcare, Series A (RB)<br> 5.00%, 08/01/23 (c) | 500 | 503361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Airport Commission of the City and County of San Francisco, International Airport, Series E (RB)<br> 5.00%, 05/01/28 (c) | 995 | 1059153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Airport Commission of the City and County of San Francisco, International Airport, Series F (RB)<br> 5.00%, 05/01/29 (c) | 1000 | 1076015 |

---

---

| | | |
|:---|:---|:---|
| | **Par <br> (000's** | **Value** |
| **California (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anaheim Housing & Public Improvements Authority (RB) (NATL)<br> 5.00%, 10/01/25 (c) | $500 | $521760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California County Tobacco Securitization Agency, Series A (RB)<br> 4.00%, 06/01/30 (c) | 1350 | 1246407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Health Facilities Financing Authority, Children's Hospital, Series A (RB)<br> 5.00%, 08/15/27 (c) | 1000 | 1027477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Health Facilities Financing Authority, City of Hope (RB)<br> 5.00%, 11/15/26 (c) | 750 | 767767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Health Facilities Financing Authority, Commonspririt Health, Series A (RB)<br> 4.00%, 04/01/30 (c) | 1000 | 958910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Health Facilities Financing Authority, Pin Health, Series A (RB)<br> 4.00%, 06/01/30 (c) | 750 | 745257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Health Facilities Financing Authority, Providence St. Joseph Health, Series A (RB)<br> 3.00%, 10/01/26 (c) | 680 | 565158 |
| California Health Facilities Financing Authority, Series A (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 11/15/27 (c) | 230 | 230626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 03/01/23 (c) | 1000 | 951679 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Health Facilities Financing Authority, Series B (RB)<br> 4.00%, 11/15/26 (c) | 1000 | 997659 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Infrastructure & Economic Development Bank (RB)<br> 5.00%, 05/15/28 (c) | 500 | 536483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Municipal Finance Authority, Eisenhower Medical Center, Series A (RB)<br> 4.00%, 07/01/27 (c) | 160 | 144998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Municipal Finance Authority, Orange County Civic Center Infrastructure Improvement Program, Series A (RB)<br> 4.00%, 06/01/27 (c) | 200 | 200540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California State Educational Facilities Authority, Stanford University, Series V-1 (RB) (BAM)<br> 5.00%, 05/01/49 | 250 | 309918 |

---

VANECK LONG MUNI ETF

SCHEDULE OF INVESTMENTS

(unaudited) (continued)

---

| | | |
|:---|:---|:---|
| | **Par <br> (000's** | **Value** |
| **California (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California State Public Works Board, Air Resources Board, Series D (RB)<br> 4.00%, 05/01/32 (c) | $500 | $497689 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California State Public Works Board, New Natural Resources Headquarters, Series C (RB)<br> 5.00%, 11/01/31 (c) | 1000 | 1122682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Statewide Communities Development Authority, Adventist Health System, Series A (RB)<br> 5.00%, 03/01/28 (c) | 330 | 339249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Statewide Communities Development Authority, Marin General Hospital, Series A (RB)<br> 4.00%, 08/01/23 (c) | 200 | 182703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chaffey Joint Union High School District, Series C (GO)<br> 5.25%, 02/01/27 (c) | 500 | 533800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chino Valley Unified School District (GO) (SBG)<br> 5.00%, 08/01/30 (c) | 620 | 681748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Los Angeles Department of Airports (RB)<br> 4.00%, 05/15/30 (c) | 750 | 753833 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of San Jose, California International Airport, Series B (RB)<br> 5.00%, 03/01/27 (c) | 500 | 527221 |
| El Dorado Irrigation District, Series A (CP) (AGM) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 03/01/30 (c) | 690 | 694992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 03/01/30 (c) | 630 | 638355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fremont Union High School District (GO)<br> 4.00%, 08/01/27 (c) | 500 | 503104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Glendale Community College District, Series A (GO)<br> 4.00%, 08/01/27 (c) | 130 | 130490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Glendale Community College District, Series B (GO)<br> 3.00%, 08/01/29 (c) | 325 | 264617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hayward Area Recreation and Park District, Series A (GO)<br> 4.00%, 08/01/27 (c) | 185 | 186148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hayward Unified School District (GO) (BAM)<br> 4.00%, 08/01/28 (c) | 1000 | 1010479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Los Angeles County Metropolitan Transportation Authority, Series A (RB) (AGM)<br> 5.00%, 07/01/28 (c) | 440 | 482044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Los Angeles Department of Water and Power, Series A (RB)<br> 5.00%, 01/01/27 (c) | 500 | 534363 |

---

---

| | | |
|:---|:---|:---|
| | **Par <br> (000's** | **Value** |
| **California (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 01/01/28 (c) | $250 | $271923 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 01/01/29 (c) | 775 | 847906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 07/01/30 (c) | 800 | 903502 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Los Angeles Department of Water and Power, Series B (RB)<br> 5.00%, 01/01/31 (c) | 1000 | 1112525 |
| Los Angeles Department of Water and Power, Series C (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 07/01/27 (c) | 275 | 296932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 07/01/31 (c) | 500 | 557196 |
| Los Angeles Department of Water and Power, Series D (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 07/01/32 (c) | 750 | 845883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 07/01/32 (c) | 500 | 568031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Miracosta Community College District, Series A (GO)<br> 4.00%, 08/01/27 (c) | 530 | 537538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mountain House Public Financing Authority, California Utility System, Series B (RB) (BAM)<br> 4.00%, 12/01/30 (c) | 500 | 509464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Perris Union High School District, Series A (GO) (AGM)<br> 4.00%, 09/01/29 (c) | 900 | 901200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Public Utilities Commission of the City and County of San Francisco, Water Revenue, Series A (RB)<br> 5.00%, 11/01/30 (c) | 325 | 360650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Public Utilities Commission of the City and County of San Francisco, Water Revenue, Series D (RB)<br> 3.00%, 11/01/30 (c) | 500 | 395163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Riverside County, Perris Union High School District, Series A (GO) (AGM)<br> 4.00%, 09/01/29 (c) | 570 | 575870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sacramento City Unified School District, Series G (GO) (AGM)<br> 4.00%, 08/01/30 (c) | 500 | 500903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sacramento County, Sanitation Districts, Finance Authority, Series A (RB)<br> 5.00%, 12/01/30 (c) | 450 | 504122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sacramento Municipal Utility District, Series H (RB)<br> 4.00%, 08/15/30 (c) | 250 | 255622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;San Diego Association of Governments South Bay Expressway Toll, Series A (RB)<br> 5.00%, 07/01/27 (c) | 610 | 653441 |

---

------

---

| | | |
|:---|:---|:---|
| | **Par <br> (000's** | **Value** |
| **California (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;San Diego County Regional Airport Authority, Series A (RB)<br> 5.00%, 07/01/29 (c) | $750 | $804297 |
| San Diego Unified School District, Series I (GO) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.12%, 07/01/27 (c) | 240 | 211981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 07/01/27 (c) | 595 | 596598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;San Francisco Bay Area Rapid Transit District, Series B-1 (GO)<br> 3.00%, 08/01/29 (c) | 600 | 491449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;San Francisco Bay Area Rapid Transit District, Series C-1 (GO)<br> 4.00%, 08/01/29 (c) | 610 | 617008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;San Francisco City and County, International Airport, Series B (RB)<br> 5.00%, 05/01/27 (c) | 700 | 737790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;San Francisco City and County, Public Utilities Commission Wastewater, Series A (RB)<br> 4.00%, 10/01/31 (c) | 885 | 888327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;San Francisco Municipal Transportation Agency (RB)<br> 4.00%, 03/01/27 (c) | 150 | 148754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;San Jose Evergreen Community College District, Series B (GO)<br> 3.00%, 09/01/28 (c) | 825 | 724302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;San Jose Financing Authority Wastewater, Series B (RB)<br> 5.00%, 11/01/32 (c) | 1500 | 1712178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;San Mateo Foster City Public Financing Authority, Clean Water Program (RB) (SAW)<br> 4.00%, 08/01/29 (c) | 500 | 502231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Santa Clara Unified School District (GO)<br> 4.00%, 07/01/26 (c) | 310 | 311486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Santa Monica Community College District, Series A (GO)<br> 5.00%, 08/01/28 (c) | 250 | 274322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Saugus Union School District School Facilities Improvement District No.1, Series C (GO)<br> 2.38%, 08/01/30 (c) | 1000 | 735839 |
| State of California, Various Purpose (GO) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 10/01/29 (c) | 500 | 418920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 12/01/30 (c) | 400 | 352644 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.62%, 04/01/26 (c) | 645 | 625163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 10/01/27 (c) | 660 | 715406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 10/01/28 (c) | 935 | 1019088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 11/01/27 (c) | 515 | 555127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 04/01/29 (c) | 1000 | 1095637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 09/01/31 (c) | 630 | 725327 |

---

---

| | | |
|:---|:---|:---|
| | **Par <br> (000's** | **Value** |
| **California (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;State of California, Various Purpose (GO) (SAW)<br> 5.00%, 12/01/30 (c) | $875 | $984045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trustees of the California State University, Series A (RB)<br> 5.00%, 05/01/27 (c) | 335 | 358122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;University of California, Series BE (RB)<br> 4.00%, 05/15/30 (c) | 1000 | 1035272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;University of California, Series O (RB)<br> 5.00%, 05/15/28 (c) | 1000 | 1071799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;West Valley-Mission Community College District, Series A (GO)<br> 4.00%, 08/01/29 (c) | 250 | 253571 |
|  |  | 49491239 |
| **Colorado: 2.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Board of Governors of Colorado State University System, Series C (RB)<br> 4.00%, 03/01/28 (c) | 550 | 544570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Boulder Valley School District No. Re-2 Boulder (GO) (SAW)<br> 5.00%, 06/01/25 (c) | 500 | 521927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City and County of Denver, Board of Water Commissioners, Series B (RB)<br> 4.00%, 09/15/27 (c) | 230 | 232857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City and County of Denver, Series A (CP)<br> 4.00%, 06/01/26 (c) | 285 | 283100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Colorado Educational and Cultural Facilities Authority, University of Denver Project, Series A (RB)<br> 5.00%, 03/01/27 (c) | 155 | 165059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Colorado Health Facilities Authority Hospital, Series A (RB) (SBG)<br> 4.00%, 11/15/29 (c) | 685 | 671357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Colorado Health Facilities Authority, Adventist Health System Series A (RB)<br> 4.00%, 05/15/28 (c) | 320 | 307139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Colorado Health Facilities Authority, CommonSpirit Health, Series A-2 (RB)<br> 3.25%, 08/01/29 (c) | 500 | 379936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Colorado Health Facilities Authority, Intermountain Healthcare, Series A (RB) (SAW)<br> 5.00%, 05/15/32 (c) | 690 | 755601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Colorado Health Facilities Authority, Sanford, Series A (RB)<br> 5.00%, 11/01/29 (c) | 500 | 520270 |

---

VANECK LONG MUNI ETF

SCHEDULE OF INVESTMENTS

(unaudited) (continued)

---

| | | |
|:---|:---|:---|
| | **Par <br> (000's** | **Value** |
| **Colorado (continued)** |  |  |
| Colorado High Performance Transportation Enterprise, C-470 Express Lanes (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 12/31/24 (c) | $250 | $246770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 12/31/24 (c) | 250 | 247724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Regional Transportation District, Fastracks Project, Series B (RB)<br> 2.00%, 05/01/31 (c) | 850 | 597587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Weld County School District No. 6 (GO) (SAW)<br> 4.00%, 06/01/31 (c) | 800 | 809708 |
|  |  | 6283605 |
| **Connecticut: 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Connecticut Housing Finance Authority, Series C-1 (RB)<br> 3.50%, 11/15/24 (c) | 5 | 4995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Connecticut State Health and Educational Facilities Authority, Sacred Heart University Issue, Series K (RB)<br> 4.00%, 07/01/30 (c) | 300 | 293519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Connecticut State Health and Educational Facilities Authority, Trinity Health Credit Group (RB)<br> 5.00%, 06/01/26 (c) | 750 | 771979 |
|  |  | 1070493 |
| **Delaware: 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;County of New Castle (GO)<br> 4.00%, 04/01/27 (c) | 150 | 152784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Delaware State Health Facilities Authority, Bayhealth Medical Center Project, Series A (RB)<br> 4.00%, 07/01/27 (c) | 115 | 113675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Delaware State Health Facilities Authority, Christiana Care Health System, Series A (RB)<br> 4.00%, 10/01/29 (c) | 280 | 278024 |
|  |  | 544483 |
| **District of Columbia: 1.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;District of Columbia, Income Tax, Series A (RB)<br> 5.00%, 09/01/29 (c) | 750 | 822509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;District of Columbia, Income Tax, Series C (RB)<br> 4.00%, 05/01/30 (c) | 805 | 811583 |
| District of Columbia, Series A (GO) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 04/15/29 (c) | 100 | 103336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 04/15/29 (c) | 500 | 505175 |
| District of Columbia, Series A (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.62%, 03/01/30 (c) | 575 | 435637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 03/01/30 (c) | 275 | 241935 |

---

---

| | | |
|:---|:---|:---|
| | **Par <br> (000's** | **Value** |
| **District of Columbia (continued)** | **District of Columbia (continued)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Metropolitan Washington Airports Authority, Dulles Toll Road, Dulles Metrorail and Capital Improvements Projects, Series A (RB) (AGM)<br> 4.00%, 10/01/31 (c) | $1000 | $974450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Washington Metropolitan Area Transit Authority, Series A (RB)<br> 3.00%, 07/15/31 (c) | 750 | 644258 |
|  |  | 4538883 |
| **Florida: 4.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Central Florida Expressway Authority (RB) (BAM)<br> 4.00%, 07/01/27 (c) | 345 | 345532 |
| City of Jacksonville, Health Care Facilities, Brooks Rehabilitation (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 11/01/29 (c) | 1000 | 958262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 11/01/29 (c) | 1000 | 1030619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Jacksonville, Series A (RB)<br> 5.25%, 10/01/27 (c) | 250 | 271398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Lakeland, Lakeland Regional Health Systems (RB)<br> 5.00%, 11/15/24 (c) | 1000 | 1016171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Port St. Lucie, Southwest Annexation Special Assessment District No. 1 (SA)<br> 3.25%, 07/01/26 (c) | 200 | 174390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Port St. Lucie, Southwest Annexation Special Assessment District No. 1 (SA) (BAM)<br> 3.00%, 07/01/26 (c) | 180 | 157954 |
| City of South Miami, Health Facilities Authority, Inc., Baptist Health (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 08/15/27 (c) | 255 | 263936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 08/15/27 (c) | 275 | 283013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Tampa, Florida Water & Wastewater System, Series A (RB) (BAM-TCRS)<br> 5.00%, 10/01/32 (c) | 500 | 570448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;County of Broward, Florida Port Facilities, Series A (RB)<br> 5.00%, 09/01/29 (c) | 500 | 523850 |
| County of Broward, Florida Tourist Development, Convention Center Expansion Project (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 09/01/31 (c) | 1000 | 973029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 09/01/31 (c) | 510 | 489089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;County of Broward, School District (GO)<br> 5.00%, 07/01/31 (c) | 665 | 735951 |

---

------

---

| | | |
|:---|:---|:---|
| | **Par <br> (000's** | **Value** |
| **Florida (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;County of Miami-Dade, Florida Transit System, Sales Surtax, Series A (RB)<br> 4.00%, 07/01/30 (c) | $500 | $501638 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;County of Miami-Dade, Health Facilities Authority Hospital, Nicklaus Children's Hospital Project, Series A (RB)<br> 4.00%, 08/01/31 (c) | 500 | 484823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;County of Miami-Dade, Water and Sewer System, Series A (RB)<br> 4.00%, 10/01/27 (c) | 210 | 207769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;County of Miami-Dade, Water and Sewer System, Series B (RB)<br> 3.00%, 10/01/29 (c) | 310 | 244959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;County of Palm Beach, Health Facilities Authority, Lifespace Communities, Inc., Series B (RB)<br> 4.00%, 11/15/26 (c) | 330 | 228581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;County of Sarasota, Florida Utility System, Series A (RB)<br> 5.00%, 10/01/30 (c) | 500 | 547612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Florida Housing Finance Corp., Homeowner Mortgage, Series 1 (RB)<br> 3.20%, 07/01/28 (c) | 40 | 38497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fort Pierce Utilities Authority, Series A (RB) (AGM)<br> 4.00%, 10/01/32 (c) | 1000 | 986216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Greater Orlando Aviation Authority, Airport Facilities, Series B (RB)<br> 5.00%, 10/01/26 (c) | 125 | 131591 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Halifax Hospital Medical Center (RB)<br> 4.00%, 06/01/26 (c) | 525 | 517267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hillsborough County, Florida Capital Improvement Non-Ad Valorem (RB)<br> 2.25%, 02/01/31 (c) | 500 | 327808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Broward Hospital District, Series A (RB)<br> 3.00%, 05/01/31 (c) | 750 | 613180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;State of Florida Department of Transportation Turnpike System Revenue (RB)<br> 5.00%, 07/01/32 (c) | 1000 | 1118441 |
|  |  | 13742024 |
| **Georgia: 1.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookhaven Development Authority, Children's Healthcare of Atlanta, Inc., Series A (RB)<br> 4.00%, 07/01/29 (c) | 660 | 663314 |

---

---

| | | |
|:---|:---|:---|
| | **Par <br> (000's** | **Value** |
| **Georgia (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Burke County Development Authority, Series D (RB)<br> 4.12%, 02/01/28 (c) | $260 | $243769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;County of Fulton, Georgia Water and Sewerage, Series A (RB)<br> 2.25%, 01/01/30 (c) | 500 | 358927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dahlonega Downtown Development Authority, North Georgia Mac, LLC Projecty (RB)<br> 3.12%, 07/01/23 (c) | 90 | 75757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dalton-Whitfield County Joint Development Authority, Hamilton Health Care System (RB) (AGC)<br> 4.00%, 02/15/28 (c) | 185 | 185685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gainesville and Hall County Hospital Authority, Northeast Georgia Health System, Series A (RB)<br> 4.00%, 02/15/30 (c) | 630 | 607710 |
| Georgia Housing and Finance Authority, Single Family Mortgage, Series B-1 (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.35%, 12/01/25 (c) | 215 | 195099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.35%, 12/01/25 (c) | 230 | 212142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Georgia State Road & Tollway Authority, Managed Lane System, Series A (RB)<br> 3.00%, 07/15/31 (c) | 500 | 405230 |
| Gwinnett County School District (GO) (SAW) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 02/01/29 (c) | 335 | 372558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Metropolitan Atlanta Rapid Transit Authority Sales Tax, Series A (RB)<br> 3.00%, 07/01/30 (c) | 1000 | 826283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Private Colleges & Universities Authority, Emory University, Series B (RB)<br> 4.00%, 09/01/30 (c) | 855 | 873710 |
|  |  | 5020184 |
| **Hawaii: 0.3%** |  |  |
| City and County of Honolulu, Series C (GO) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 08/01/29 (c) | 750 | 759275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 08/01/29 (c) | 200 | 220917 |
|  |  | 980192 |
| **Idaho: 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Idaho Health Facilities Authority, St. Luke's Health System Project, Series A (RB)<br> 5.00%, 03/01/24 (c) | 500 | 504638 |
| **Illinois: 3.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chicago O'Hare International Airport, Series B (RB) (AGM)<br> 4.00%, 01/01/29 (c) | 890 | 882401 |

---

VANECK LONG MUNI ETF

SCHEDULE OF INVESTMENTS

(unaudited) (continued)

---

| | | |
|:---|:---|:---|
| | **Par** <br> **(000's** | **Value** |
| **Illinois (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chicago O'Hare International Airport, Series C (RB)<br> 5.00%, 01/01/27 (c) | $150 | $157948 |
| Chicago O'Hare International Airport, Series D (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 01/01/27 (c) | 150 | 155648 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 01/01/27 (c) | 265 | 274835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chicago O'Hare International Airport, Series F (RB)<br> 5.00%, 01/01/27 (c) | 250 | 259414 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chicago Transit Authority Sales Tax Receipts Fund (RB)<br> 5.25%, 12/01/24 (c) | 750 | 764179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Chicago, Series A (GO)<br> 5.50%, 01/01/30 (c) | 750 | 795442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;County of Cook, Illinois Sales Tax (RB)<br> 4.00%, 11/15/27 (c) | 160 | 159179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Illinois Finance Authority, NorthShore University HealthSystem, Series A (RB)<br> 4.00%, 08/15/30 (c) | 500 | 500397 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Illinois Finance Authority, Presence Network, Series C (RB)<br> 4.00%, 02/15/27 (c) | 500 | 500779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Illinois Finance Authority, Silver Cross Hospital and Medical Center, Series C (RB)<br> 5.00%, 08/15/25 (c) | 1000 | 1004460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Illinois Housing Development Authority, Series G (RB)<br> 4.85%, 04/01/32 (c) | 500 | 523546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Illinois State Toll Highway Authority, Series A (RB)<br> 5.00%, 01/01/31 (c) | 1000 | 1089256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Metropolitan Water Reclamation District of Greater Chicago, Series A (GO)<br> 4.00%, 12/01/31 (c) | 500 | 486655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;State of Illinois (GO) (AGC)<br> 5.75%, 05/01/30 (c) | 750 | 805751 |
| State of Illinois, Series A (GO) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 03/01/31 (c) | 500 | 478466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 03/01/31 (c) | 1250 | 1285929 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 05/01/28 (c) | 630 | 648688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 05/01/28 (c) | 250 | 258245 |
|  |  | 11031218 |
| **Indiana: 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indiana Finance Authority, CWA Authority Project (RB)<br> 5.00%, 10/01/31 (c) | 300 | 337004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indianapolis Local Public Improvement Bond Bank, Courthouse and Jail Project, Series A (RB)<br> 5.00%, 02/01/29 (c) | 500 | 534861 |

---

---

| | | |
|:---|:---|:---|
| | **Par** <br> **(000's** | **Value** |
| **Indiana (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 02/01/29 (c) | $1000 | $1063302 |
|  |  | 1935167 |
| **Iowa: 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Iowa Finance Authority, Midwestern Disaster Area, Iowa Fertilizer Co. Project, Series A (RB)<br> 5.00%, 12/01/42 (c) (p) | 500 | 511273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Iowa Finance Authority, Series A (RB)<br> 5.00%, 08/01/30 (c) | 530 | 582275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Iowa Higher Education Loan Authority, Grinnell College Project (RB)<br> 5.00%, 12/01/26 (c) | 300 | 320119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Iowa Higher Education Loan Authority, Grinnell College Project, Series A (RB)<br> 5.00%, 12/01/26 (c) | 250 | 268167 |
|  |  | 1681834 |
| **Kentucky: 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kentucky Bond Development Corp., Lexington Center Corp. Project (RB)<br> 4.00%, 09/01/28 (c) | 1225 | 1216472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kentucky Economic Development Finance Authority, Louisville Arena Project, Series A (RB) (AGM)<br> 4.00%, 12/01/27 (c) | 750 | 744889 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Louisville and Jefferson County, Metropolitan Sewer District, Series A (RB)<br> 3.25%, 11/15/26 (c) | 235 | 202666 |
|  |  | 2164027 |
| **Louisiana: 0.8%** |  |  |
| City of New Orleans, Louisiana Public Improvement, Series A (GO) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 12/01/30 (c) | 450 | 481926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 12/01/30 (c) | 320 | 339583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Shreveport, Louisiana Water and Sewer, Series B (RB) (AGM)<br> 4.00%, 12/01/28 (c) | 700 | 663787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Louisiana Local Government Environmental Facilities and Community Development Authority, Woman's Hospital Foundation Project, Series A (RB)<br> 4.00%, 10/01/27 (c) | 230 | 231084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Louisiana Public Facilities Authority, Ochsner Clinic Foundation Project (RB)<br> 4.00%, 05/15/27 (c) | 230 | 229861 |

---

------

---

| | | |
|:---|:---|:---|
| | **Par** <br> **(000's** | **Value** |
| **Louisiana (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Orleans Aviation Board, North Terminal Project, Series A (RB)<br> 5.00%, 01/01/27 (c) | $240 | $250926 |
|  |  | 2197167 |
| **Maryland: 1.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Baltimore, Water Projects, Series A (RB) (SAW)<br> 4.00%, 07/01/29 (c) | 225 | 223063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;County of Baltimore, Metropolitan District (GO)<br> 4.00%, 03/01/28 (c) | 250 | 253970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maryland Community Development Administration, Series A (RB) (AGM)<br> 1.95%, 03/01/30 (c) | 310 | 210939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maryland Health and Higher Educational Facilities Authority, Adventist Healthcare, Series B (RB)<br> 4.00%, 01/01/32 (c) | 500 | 440664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maryland Health and Higher Educational Facilities Authority, Greater Baltimore Medical Center, Series A (RB)<br> 3.00%, 07/01/31 (c) | 500 | 394222 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maryland Health and Higher Educational Facilities Authority, Medstar Health Issue, Series A (RB)<br> 4.00%, 05/15/27 (c) | 260 | 253435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maryland Health and Higher Educational Facilities Authority, Univeristy of Maryland Medical System Issue, Series D (RB)<br> 4.00%, 01/01/28 (c) | 150 | 147224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maryland Transportation Authority, Transportation Facilities Projects, Series A (RB)<br> 5.00%, 07/01/31 (c) | 1000 | 1105919 |
|  |  | 3029436 |
| **Massachusetts: 3.9%** |  |  |
| Commonwealth of Massachusetts Transportation, Series A (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 06/01/30 (c) | 800 | 643829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 06/01/31 (c) | 500 | 564784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commonwealth of Massachusetts Transportation, Series B (RB)<br> 5.00%, 06/01/30 (c) | 560 | 623693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commonwealth of Massachusetts, Accelerated Bridge Program, Series A (RB)<br> 5.00%, 06/01/28 (c) | 315 | 339083 |

---

---

| | | |
|:---|:---|:---|
| | **Par** <br> **(000's** | **Value** |
| **Massachusetts (continued)** |  |  |
| Commonwealth of Massachusetts, Series A (GO) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 01/01/28 (c) | $200 | $215111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 01/01/28 (c) | 1000 | 1073747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 04/01/27 (c) | 275 | 293874 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commonwealth of Massachusetts, Series B (GO)<br> 2.12%, 04/01/31 (c) | 1300 | 794653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commonwealth of Massachusetts, Series C (GO)<br> 3.00%, 03/01/30 (c) | 360 | 294437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commonwealth of Massachusetts, Series D (GO)<br> 5.00%, 07/01/30 (c) | 750 | 830171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commonwealth of Massachusetts, Series E (GO)<br> 5.00%, 11/01/30 (c) | 605 | 672207 |
| Massachusetts Bay Transportation Authority, Sales Tax, Series A (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 07/01/31 (c) | 800 | 790157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 07/01/27 (c) | 100 | 106418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Massachusetts Development Finance Agency, Beth Israel Lahey Health, Inc., Series J (RB)<br> 5.00%, 07/01/28 (c) | 500 | 509245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Massachusetts Development Finance Agency, Northeastern Institute, Series A (RB)<br> 5.00%, 03/01/24 (c) | 1900 | 1935534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Massachusetts Development Finance Agency, The Broad Institute Issue (RB)<br> 4.00%, 10/01/27 (c) | 250 | 253668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Massachusetts Port Authority, Series B (RB) (SBG)<br> 5.00%, 07/01/29 (c) | 305 | 334554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Massachusetts School Building Authority, Sales Tax, Series A (RB)<br> 5.00%, 08/15/30 (c) | 750 | 826131 |
|  |  | 11101296 |
| **Michigan: 1.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Great Lakes Water Authority, Water Supply System, Second Lien, Series B (RB)<br> 5.00%, 07/01/26 (c) | 390 | 405748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Great Lakes Water Authority, Water Supply System, Senior Lien, Series A (RB)<br> 5.00%, 07/01/26 (c) | 570 | 593944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Michigan Finance Authority (RB)<br> 5.00%, 05/15/25 (c) | 500 | 510475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Michigan Finance Authority, Henry Ford Health System, Series A (RB)<br> 4.00%, 11/15/26 (c) | 225 | 217657 |

---

VANECK LONG MUNI ETF

SCHEDULE OF INVESTMENTS

(unaudited) (continued)

---

| | | |
|:---|:---|:---|
| | **Par** <br> **(000's** | **Value** |
| **Michigan (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 11/02/29 (c) | $250 | $238355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 11/02/29 (c) | 135 | 139933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Michigan Finance Authority, Trinity Health Credit Group, Series A (RB)<br> 5.00%, 12/01/27 (c) | 500 | 519863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Michigan State Building Authority (RB)<br> 5.00%, 10/15/25 (c) | 500 | 516830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Michigan State Housing Development Authority, Series A (RB)<br> 4.30%, 10/01/24 (c) | 725 | 727543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Michigan State Housing Development Authority, Series A-1 (RB)<br> 3.35%, 10/01/28 (c) | 500 | 404305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wayne County Airport Authority, Series A (RB) <br> 5.00%, 12/01/27 (c) | 190 | 202956 |
|  |  | 4477609 |
| **Minnesota: 0.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Minnesota Housing Finance Agency Residential Housing, Series B (RB)<br> 2.50%, 07/01/30 (c) | 530 | 391829 |
| Minnesota Housing Finance Agency Residential Housing, Series I (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.15%, 01/01/30 (c) | 890 | 643114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 01/01/30 (c) | 445 | 438781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Minnesota Housing Finance Agency Residential Housing, Series M (RB)<br> 5.15%, 01/01/32 (c) | 500 | 533129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;St. Louis Park Independent School District No. 283, Series A (GO) (SD CRED PROG)<br> 4.25%, 02/01/31 (c) | 500 | 524769 |
|  |  | 2531622 |
| **Missouri: 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health and Educational Facilities Authority, Saint Louis University, Series A (RB)<br> 5.00%, 04/01/29 (c) | 100 | 108719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Missouri State Housing Development Commission Single Family Mortgage, First Place Homeownership Loan, Series C (RB)<br> 3.05%, 05/01/29 (c) | 190 | 178819 |
|  |  | 287538 |
| **Nebraska: 0.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Central Plains Energy Project, Gas Project Crossover No. 3, Series A (RB)<br> 5.00%, 09/01/42 | 500 | 526000 |

---

---

| | | |
|:---|:---|:---|
| | **Par** <br> **(000's** | **Value** |
| **Nebraska (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Omaha and County of Douglas, Public Building, Series B (GO)<br> 4.00%, 05/01/29 (c) | $550 | $555487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Omaha Public Power District, Nebraska Electric System, Series A (RB)<br> 4.00%, 08/01/30 (c) | 750 | 725749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;University of Nebraska Facilities Corp., Series A (RB)<br> 4.00%, 07/15/31 (c) | 750 | 731792 |
|  |  | 2539028 |
| **Nevada: 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Carson, Tahoe Regional Healthcare Project (RB)<br> 5.00%, 09/01/27 (c) | 390 | 402305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Henderson, Utility System, Series A-1 (GO)<br> 4.00%, 06/01/30 (c) | 675 | 673187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;County of Clark , Limited Tax, Series A (GO)<br> 5.00%, 06/01/28 (c) | 485 | 516724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;County of Washoe, Nevada Highway, Fuel Tax (RB)<br> 5.00%, 02/01/29 (c) | 250 | 272468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;County of Washoe, School District, Series C (GO) (AGM)<br> 3.12%, 10/01/27 (c) | 100 | 94307 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Las Vegas Convention and Visitors Authority, Series B (RB) (NATL)<br> 5.00%, 07/01/28 (c) | 275 | 289853 |
|  |  | 2248844 |
| **New Hampshire: 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;National Finance Authority Hospital, St. Lukes University Health Network Project, Series B (RB) (AGM)<br> 3.00%, 08/15/31 (c) | 500 | 401023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Hampshire Municipal Bond Bank, Series B (RB)<br> 4.00%, 08/15/27 (c) | 265 | 268645 |
|  |  | 669668 |
| **New Jersey: 3.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hudson County Improvement Authority, Courthouse Project (RB)<br> 4.00%, 10/01/30 (c) | 1000 | 991980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority, New Jersey Princeton University, Series C (RB)<br> 2.00%, 03/01/31 (c) | 500 | 354347 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority, Atlanticare Health System (RB)<br> 2.50%, 07/01/31 (c) | 490 | 335928 |

---

------

---

| | | |
|:---|:---|:---|
| | **Par** <br> **(000's** | **Value** |
| **New Jersey (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority, Inspira Health, Series A (RB)<br> 4.00%, 07/01/26 (c) | $500 | $502245 |
| New Jersey Health Care Facilities Financing Authority, RWJ Barnabas Health, Series A (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 07/01/31 (c) | 555 | 563015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 07/01/26 (c) | 55 | 57051 |
| New Jersey Transportation Trust Fund Authority, Series AA (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 06/15/24 (c) | 640 | 640392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 12/15/28 (c) | 910 | 917279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 12/15/30 (c) | 250 | 262962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 12/15/30 (c) | 250 | 267128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 06/15/25 (c) | 1000 | 1018521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority, Series BB (RB)<br> 3.50%, 12/15/28 (c) | 365 | 313156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority, Series A (RB)<br> 4.00%, 01/01/29 (c) | 1280 | 1271112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority, Series B (RB)<br> 5.00%, 01/01/28 (c) | 100 | 106590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority, Series E (RB)<br> 5.00%, 01/01/25 (c) | 955 | 982540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority, Series G (RB)<br> 4.00%, 01/01/28 (c) | 210 | 211035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Jersey Transportation Authority, Transportation System, Series A (RB) <br> 5.00%, 11/01/30 (c) | 500 | 524880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tobacco Settlement Financing Corp., Series A (RB)<br> 5.00%, 06/01/28 (c) | 205 | 211660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tobacco Settlement Financing Corp., Series B (RB)<br> 5.00%, 06/01/28 (c) | 500 | 505083 |
|  |  | 10036904 |
| **New Mexico: 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Mexico Hospital Equipment, Presbyterian Healthcare Services, Series A (RB)<br> 4.00%, 08/01/29 (c) | 250 | 243829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Mexico Mortgage Finance Authority, Single Family Mortgage Program Class I, Series C (RB)<br> 3.60%, 07/01/28 (c) | 175 | 168148 |

---

---

| | | |
|:---|:---|:---|
| | **Par** <br> **(000's** | **Value** |
| **New Mexico (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Mexico Mortgage Finance Authority, Single Family Mortgage Program Class I, Series F (RB)<br> 3.05%, 01/01/29 (c) | $290 | $257135 |
|  |  | 669112 |
| **New York: 20.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Battery Park City Authority, Series A (RB)<br> 4.00%, 11/01/29 (c) | 1000 | 1013529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of New York, Series A-1 (GO)<br> 4.00%, 08/01/31 (c) | 1000 | 978934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of New York, Series C (GO)<br> 5.00%, 08/01/30 (c) | 500 | 549307 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of New York, Series D-1 (GO)<br> 4.00%, 12/01/28 (c) | 470 | 469105 |
| City of New York, Subseries B-1 (GO) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 10/01/29 (c) | 110 | 93230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 10/01/29 (c) | 250 | 272983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of New York, Subseries D-1 (GO) (BAM)<br> 5.00%, 03/01/30 (c) | 1000 | 1093750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;County of Broome, Local Development Corp. (RB) (AGM)<br> 4.00%, 04/01/30 (c) | 925 | 925141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;County of Monroe, Industrial Development Corp., University of Rochester Project, Series A (RB)<br> 4.00%, 07/01/30 (c) | 900 | 882702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dutchess County Local Development Corp., Health Quest System, Inc., Series B (RB)<br> 5.00%, 07/01/26 (c) | 255 | 258192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hudson Yards Infrastructure Corp., Series A (RB)<br> 5.00%, 02/15/27 (c) | 645 | 689781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Long Island Power Authority, Electric System (RB)<br> 5.00%, 09/01/27 (c) | 300 | 315176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Metropolitan Transportation Authority, Series A (RB) (AGM)<br> 5.00%, 11/15/28 (c) | 715 | 759151 |
| Metropolitan Transportation Authority, Series A-1 (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 05/15/27 (c) | 400 | 370513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 05/15/25 (c) | 590 | 593319 |
| Metropolitan Transportation Authority, Series B-1 (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 11/15/26 (c) | 500 | 523317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 11/15/27 (c) | 350 | 374709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Metropolitan Transportation Authority, Series C (RB) (AGM)<br> 4.00%, 11/15/29 (c) | 1000 | 988081 |

---

VANECK LONG MUNI ETF

SCHEDULE OF INVESTMENTS

(unaudited) (continued)

---

| | | |
|:---|:---|:---|
| | **Par** <br> **(000's** | **Value** |
| **New York (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Metropolitan Transportation Authority, Series C-1 (RB)<br> 4.75%, 05/15/30 (c) | $1000 | $999993 |
| Metropolitan Transportation Authority, Series D (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 05/15/28 (c) | 250 | 227041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 05/15/28 (c) | 1245 | 1157766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Metropolitan Transportation Authority, Series E (RB)<br> 5.00%, 11/15/23 (c) | 600 | 600973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Monroe County Industrial Development Corp. Rochester Regional Health Project, Series A (RB)<br> 4.00%, 12/01/30 (c) | 650 | 605556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MTA Hudson Rail Yards Trust, Series A (RB)<br> 5.00%, 11/15/23 (c) | 1000 | 991967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City Environmental Facilities, Clean Water and Drinking Water, Series B (RB)<br> 4.00%, 06/15/29 (c) | 500 | 502968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City Housing Development Corp., Multi- Family Housing, Series C-1 (RB)<br> 2.25%, 05/01/29 (c) | 800 | 569765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City Housing Development Corp., Multi- Family Housing, Series I-1 (RB)<br> 2.35%, 02/01/29 (c) | 525 | 400622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City Housing Development Corp., Multi- Family Housing, Series J (RB)<br> 3.05%, 09/01/27 (c) | 560 | 436373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City Housing Development Corp., Sustainable Neighborhood Bonds, Series G-1 (RB)<br> 3.75%, 11/01/25 (c) | 250 | 213885 |
| New York City Municipal Water Finance Authority, Water and Sewer System, Series BB (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 12/15/31 (c) | 955 | 1065674 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 06/15/23 (c) | 1000 | 1006395 |
| New York City Municipal Water Finance Authority, Water and Sewer System, Series CC (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 06/15/23 (c) | 710 | 672333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 06/15/24 (c) | 500 | 498605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City Municipal Water Finance Authority, Water and Sewer System, Series CC (RB) (FHA 542(C))<br> 5.00%, 06/15/31 (c) | 500 | 549292 |

---

---

| | | |
|:---|:---|:---|
| | **Par** <br> **(000's** | **Value** |
| **New York (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City Municipal Water Finance Authority, Water and Sewer System, Series EE (RB)<br> 5.00%, 12/15/27 (c) | $750 | $810509 |
| New York City Transitional Finance Authority Building Aid, Series S-1 (RB) (SAW) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 07/15/29 (c) | 350 | 281342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 07/15/28 (c) | 500 | 538382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series A-1 (RB)<br> 5.00%, 08/01/28 (c) | 260 | 281455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series B-1 (RB)<br> 4.00%, 08/01/27 (c) | 400 | 400258 |
| New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series C-1 (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 11/01/30 (c) | 500 | 502710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 11/01/30 (c) | 775 | 782851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 05/01/29 (c) | 1120 | 1120917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 02/01/32 (c) | 565 | 631769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series D-1 (RB)<br> 4.00%, 11/01/30 (c) | 500 | 490268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series E-1 (RB)<br> 2.25%, 02/01/31 (c) | 650 | 426182 |
| New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series F-1 (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 02/01/32 (c) | 1000 | 974763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 05/01/27 (c) | 420 | 447827 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City Water and Sewer System, Series AA (RB)<br> 5.00%, 12/15/29 (c) | 200 | 221427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City Water and Sewer System, Series AA-1 (RB)<br> 3.00%, 12/15/30 (c) | 350 | 281638 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City Water and Sewer System, Series AA-2 (RB)<br> 3.00%, 12/15/30 (c) | 660 | 583398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City Water and Sewer System, Series BB (RB)<br> 4.00%, 12/15/30 (c) | 640 | 631773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City Water and Sewer System, Series EE (RB) (AGC)<br> 5.00%, 06/15/29 (c) | 800 | 880087 |

---

------

---

| | | |
|:---|:---|:---|
| | **Par** <br> **(000's** | **Value** |
| **New York (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City Water and Sewer System, Series FF (RB)<br> 5.00%, 06/15/28 (c) | $250 | $272586 |
| New York Convention Center Development Corp., Series A (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00%, 11/15/47 ^ | 230 | 71568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00%, 11/15/54 ^ | 170 | 36839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Liberty Development Corp., 1 World Trade Center Project (RB)<br> 4.00%, 02/15/30 (c) | 620 | 604547 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State Dormitory Authority, Icahn School of Medicine at Mount Sinai, Series A (RB)<br> 5.00%, 03/15/29 (c) | 285 | 309278 |
| New York State Dormitory Authority, New School, Series A (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 01/01/27 (c) | 475 | 453046 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 01/01/27 (c) | 420 | 432173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State Dormitory Authority, New York Columbia University, Series A (RB)<br> 5.00%, 10/01/47 | 250 | 297919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State Dormitory Authority, New York Columbia University, Series A (RB) (FHA)<br> 5.00%, 10/01/48 | 700 | 833297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State Dormitory Authority, New York University, Series A (RB)<br> 5.00%, 07/01/28 (c) | 400 | 438502 |
| New York State Dormitory Authority, Personal Income Tax, Series A (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 09/15/30 (c) | 500 | 425202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 03/15/32 (c) | 1000 | 871810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 03/15/31 (c) | 500 | 545090 |
| New York State Dormitory Authority, Personal Income Tax, Series B (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 02/15/25 (c) | 730 | 752043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 08/15/27 (c) | 800 | 860804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State Dormitory Authority, Rochester Institute of Technology, Series A (RB)<br> 5.00%, 07/01/29 (c) | 250 | 269979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State Dormitory Authority, St. John's University, Series A (RB)<br> 4.00%, 07/01/31 (c) | 550 | 544961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State Dormitory Authority, State Sales Tax, Series A (RB)<br> 4.00%, 03/15/27 (c) | 800 | 788280 |

---

---

| | | |
|:---|:---|:---|
| | **Par** <br> **(000's** | **Value** |
| **New York (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 03/15/27 (c) | $250 | $247139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 03/15/27 (c) | 150 | 158909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State Dormitory Authority, State Sales Tax, Series E (RB)<br> 5.00%, 09/15/28 (c) | 1165 | 1255994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State Environmental Facilities Corp., Clean Water & Drinking Water, Series A (RB)<br> 5.00%, 06/15/32 (c) | 1000 | 1121169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State Housing Finance Agency, Series M (RB)<br> 3.75%, 11/01/26 (c) | 195 | 175018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State Mortgage Agency Homeowner Mortgage (RB)<br> 3.50%, 04/01/26 (c) | 190 | 167104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State Mortgage Agency Homeowner Mortgage (RB) (SBG)<br> 2.55%, 10/01/29 (c) | 330 | 221454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State Power Authority, Series A (RB)<br> 4.00%, 05/15/30 (c) | 500 | 495157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State Thruway Authority, Personal Income Tax, Series A-1 (RB)<br> 4.00%, 03/15/31 (c) | 525 | 531276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State Thruway Authority, Personal Income Tax, Series C (RB)<br> 4.12%, 09/15/32 (c) | 750 | 740626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State Thruway Authority, Series A (RB)<br> 5.00%, 01/01/26 (c) | 1000 | 1044786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State Thruway Authority, Series B (RB) (AGM)<br> 4.00%, 01/01/30 (c) | 500 | 508576 |
| New York State Urban Development Corp., Personal Income Tax, Series A (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 09/15/30 (c) | 500 | 505000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 09/15/28 (c) | 500 | 541295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State Urban Development Corp., Personal Income Tax, Series C (RB)<br> 3.00%, 09/15/30 (c) | 550 | 440543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State Urban Development Corp., State Sales Tax, Series A (RB)<br> 3.00%, 09/15/31 (c) | 1000 | 802278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State, Dormitory Authority, Personal Income Tax, Series D (RB)<br> 5.00%, 02/15/30 (c) | 820 | 886131 |

---

VANECK LONG MUNI ETF

SCHEDULE OF INVESTMENTS

(unaudited) (continued)

---

| | | |
|:---|:---|:---|
| | **Par** <br> **(000's** | **Value** |
| **New York (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State, Dormitory Authority, State Sales Tax, Series A (RB)<br> 5.00%, 03/15/27 (c) | $380 | $405632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Transportation Development Corp., Terminal 4 John Kennedy International Airport Project, Series C (RB) <br> 4.00%, 12/01/30 (c) | 925 | 875850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey (RB)<br> 5.00%, 12/01/23 (c) | 500 | 507645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Suffolk Tobacco Asset Securitization Corp., Series B-1 (RB)<br> 4.00%, 06/01/31 (c) | 1000 | 991736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Triborough Bridge and Tunnel Authority Sales Tax, Series A (RB)<br> 4.00%, 11/15/32 (c) | 840 | 840005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Triborough Bridge and Tunnel Authority, Payroll Mobility Tax, Series D-2 (RB)<br> 4.50%, 11/15/32 (c) | 500 | 521457 |
| Triborough Bridge and Tunnel Authority, Series A (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 11/15/30 (c) | 1000 | 1090498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 11/15/30 (c) | 750 | 813319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Triborough Bridge and Tunnel Authority, Series B (RB)<br> 5.00%, 05/15/28 (c) | 980 | 1044031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Triborough Bridge and Tunnel Authority, Series C (RB)<br> 4.00%, 11/15/31 (c) | 750 | 733376 |
|  |  | 58411612 |
| **North Carolina: 1.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charlotte-Mecklenburg Hospital Authority, Atrium HealthCare, Series A (RB)<br> 4.00%, 01/15/32 (c) | 600 | 604330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;North Carolina Housing Finance Agency (RB)<br> 4.88%, 07/01/31 (c) | 500 | 525355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;North Carolina Medical Care Commission, Novant Health, Series A (RB)<br> 3.12%, 11/01/29 (c) | 220 | 177770 |
| North Carolina Turnpike Authority, Triangle Expressway System (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 01/01/30 (c) | 750 | 781849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 01/01/30 (c) | 500 | 525599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;University of North Carolina, Hospitals at Chapel Hill (RB)<br> 5.00%, 02/01/45 | 800 | 949059 |
|  |  | 3563962 |

---

---

| | | |
|:---|:---|:---|
| | **Par** <br> **(000's** | **Value** |
| **Ohio: 1.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Municipal Power, Inc., Series A (RB)<br> 5.00%, 02/15/26 (c) | $220 | $226854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Chillicothe, Hospital Facilities, Adena Health System (RB)<br> 4.00%, 12/01/27 (c) | 440 | 401205 |
| County of Allen, Ohio Hospital Facilities, Mercy Health, Series A (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 02/01/28 (c) | 510 | 492521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 11/01/24 (c) | 600 | 613828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;County of Cuyahoga, Ohio Hospital, The Metrohealth System (RB)<br> 5.00%, 02/15/27 (c) | 1000 | 972989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hamilton County, Life Enriching Communities Project (RB)<br> 5.00%, 01/01/26 (c) | 250 | 234745 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ohio Water Development Authority, Fresh Water (RB)<br> 5.00%, 12/01/29 (c) | 500 | 554152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;State of Ohio, Cleveland Clinic System, Series B (RB) (BAM)<br> 4.00%, 01/01/29 (c) | 335 | 339263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;State of Ohio, Water Pollution Control, Series A (RB)<br> 5.00%, 12/01/31 (c) | 500 | 561034 |
|  |  | 4396591 |
| **Oklahoma: 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Edmond Public Works Authority, Sales Tax and Utility System (RB)<br> 4.00%, 07/01/27 (c) | 250 | 250672 |
| Oklahoma Turnpike Authority, Series A (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 01/01/26 (c) | 350 | 346792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 01/01/27 (c) | 700 | 691887 |
|  |  | 1289351 |
| **Oregon: 0.9%** |  |  |
| Multnomah County School District No. 1J, Series B (GO) (SBG) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 06/15/30 (c) | 550 | 382616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 06/15/27 (c) | 295 | 265249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oregon Health and Science University, Series A (RB)<br> 4.00%, 01/01/32 (c) | 1000 | 1003276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tri-County Metropolitan Transportation District of Oregon, Series A (RB)<br> 3.00%, 09/01/29 (c) | 935 | 809688 |
|  |  | 2460829 |
| **Pennsylvania: 4.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chester County Health and Education Facilities Authority, Main Line Health System, Series A (RB) <br> 4.00%, 10/01/27 (c) | 180 | 173799 |

---

------

---

| | | |
|:---|:---|:---|
| | **Par** <br> **(000's** | **Value** |
| **Pennsylvania (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 09/01/30 (c) | $645 | $617102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chester County Health and Education Facilities Authority, Main Line Health System, Series A (RB) (SBG)<br> 4.00%, 09/01/30 (c) | 210 | 208701 |
| City of Philadelphia, Pennsylvania Water & Wastewater, Series A (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 10/01/27 (c) | 500 | 524282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 10/01/27 (c) | 500 | 526798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commonwealth of Pennsylvania, Series A (CP) (FHA)<br> 4.00%, 01/30/28 (c) | 1170 | 1148524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DuBois Hospital Authority, Penn Highlands Healthcare (RB)<br> 5.00%, 01/15/28 (c) | 280 | 289999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Geisinger Authority, Health System, Series A (RB)<br> 5.00%, 04/01/30 (c) | 1000 | 1035339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lancaster County Hospital Authority, Penn State Health (RB)<br> 5.00%, 11/01/29 (c) | 1000 | 1041547 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Montgomery County Higher Education and Health Authority, Presbytery Homes, Inc. Project (RB)<br> 5.00%, 12/01/24 (c) | 145 | 142760 |
| Pennsylvania Housing Finance Agency, Single Family Mortgage (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.28%, 10/01/30 (c) | 500 | 370875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 10/01/25 (c) | 265 | 229153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 10/01/25 (c) | 140 | 123201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pennsylvania Housing Finance Agency, Single Family Mortgage, Series B (RB)<br> 3.65%, 04/01/27 (c) | 260 | 242161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pennsylvania Turnpike Commission, Motor License (RB)<br> 5.00%, 12/01/27 (c) | 155 | 164341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pennsylvania Turnpike Commission, Oil Franchise Tax, Series A (RB) (AGM)<br> 5.00%, 12/01/28 (c) | 290 | 308376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pennsylvania Turnpike Commission, Oil Franchise Tax, Series B (RB)<br> 4.00%, 12/01/31 (c) | 550 | 526530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pennsylvania Turnpike Commission, Series A (RB)<br> 5.00%, 12/01/29 (c) | 220 | 234510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pennsylvania Turnpike Commission, Series A-1 (RB)<br> 5.00%, 12/01/27 (c) | 900 | 949404 |

---

---

| | | |
|:---|:---|:---|
| | **Par** <br> **(000's** | **Value** |
| **Pennsylvania (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pennsylvania Turnpike Commission, Series B (RB) <br> 5.00%, 12/01/30 (c) | $800 | $865650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pennsylvania Turnpike Commission, Series B-1 (RB)<br> 5.25%, 06/01/27 (c) | 700 | 734836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pennsylvania Turnpike Commission, Turnpike Subordinate Bonds, Series B (RB)<br> 4.00%, 12/01/31 (c) | 1000 | 979120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Philadelphia Gas Works Co. (RB)<br> 5.00%, 08/01/27 (c) | 805 | 836626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upper Merion Area School District, Series A (GO) (SAW)<br> 4.00%, 01/15/29 (c) | 500 | 505851 |
|  |  | 12779485 |
| **South Carolina: 0.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Carolina Public Service Authority, Series A (RB)<br> 4.00%, 06/01/32 (c) | 500 | 468415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Spartanburg County, School District No. 4, Series A (GO)<br> 5.25%, 03/01/32 (c) | 1000 | 1131678 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;University of South Carolina, Campus Village Project, Series A (RB)<br> 5.00%, 05/01/31 (c) | 820 | 906275 |
|  |  | 2506368 |
| **South Dakota: 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Dakota Health and Educational Facilities Authority (RB)<br> 5.00%, 09/01/27 (c) | 750 | 769496 |
| **Tennessee: 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Memphis (GO)<br> 4.00%, 05/01/28 (c) | 665 | 664114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sullivan County (GO)<br> 4.00%, 05/01/26 (c) | 230 | 229694 |
| Tennessee Housing Development Agency, Residential Finance Program (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 01/01/29 (c) | 335 | 311051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 01/01/27 (c) | 225 | 220566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tennessee Housing Development Agency, Series B (RB)<br> 3.45%, 01/01/27 (c) | 185 | 179693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tennessee State School Bond Authority, Higher Education Facilities, Series A (RB)<br> 5.00%, 11/01/27 (c) | 1040 | 1122544 |
|  |  | 2727662 |
| **Texas: 10.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alvin Independent School District (GO)<br> 3.38%, 02/15/28 (c) | 350 | 335731 |

---

VANECK LONG MUNI ETF

SCHEDULE OF INVESTMENTS

(unaudited) (continued)

---

| | | |
|:---|:---|:---|
| | **Par** <br> **(000's** | **Value** |
| **Texas (continued)** |  |  |
| Arlington Higher Education Finance Corp. (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 02/15/31 (c) | $1000 | $816610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 08/15/29 (c) | 675 | 675740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Austin Independent School District (GO)<br> 4.00%, 02/01/33 (c) | 1000 | 1003419 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Board of Regents of the University of Texas System, Series A (RB)<br> 3.00%, 08/15/31 (c) | 525 | 461009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Board of Regents of the University of Texas System, Series E (RB)<br> 4.00%, 08/15/27 (c) | 650 | 659146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Central Texas Regional Mobility Authority, Senior Lien, Series E (RB)<br> 5.00%, 01/01/30 (c) | 750 | 809035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Arlington, Senior Lien Special Tax, Series A (ST) (AGM)<br> 4.00%, 02/15/28 (c) | 165 | 163997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Austin, Airport System, Series A (RB)<br> 5.00%, 11/15/26 (c) | 280 | 295903 |
| City of Austin, Texas Electricity Utility System, Series A (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 11/15/29 (c) | 1375 | 1485338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 11/15/30 (c) | 500 | 548604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Corpus Christi, Utility System, Series A (RB) (SBG)<br> 4.00%, 07/15/30 (c) | 295 | 295825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Denton (GO)<br> 4.00%, 02/15/27 (c) | 120 | 120817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of El Paso (GO)<br> 4.00%, 08/15/29 (c) | 950 | 948771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Houston, Combined Utility System, First Lien, Series D (RB)<br> 5.00%, 11/15/28 (c) | 220 | 238535 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Lubbock, Texas Electric Light & Power System (RB)<br> 4.00%, 04/15/30 (c) | 650 | 634901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of San Antonio, Texas Electric & Gas Systems (RB)<br> 5.00%, 02/01/32 (c) | 500 | 554193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of San Antonio, Texas Electric & Gas Systems, Series A (RB)<br> 5.00%, 02/01/31 (c) | 1000 | 1095930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;County of Bexar, Political Subdivision, Limited Tax (GO)<br> 4.00%, 06/15/26 (c) | 220 | 221458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cypress-Fairbanks Independent School District, Series A (GO)<br> 2.25%, 02/15/31 (c) | 600 | 447375 |

---

---

| | | |
|:---|:---|:---|
| | **Par** <br> **(000's** | **Value** |
| **Texas (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dallas Independent School District (GO)<br> 4.00%, 02/15/32 (c) | $1000 | $996642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;El Paso Independent School District (GO)<br> 4.00%, 08/15/29 (c) | 1000 | 1005962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grand Parkway Transportation Corp. System, First Tier Toll, Series C (RB)<br> 4.00%, 04/01/30 (c) | 770 | 752396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grand Parkway Transportation Corp. System, Subordinate Tier Toll, Series A (RB)<br> 5.00%, 04/01/28 (c) | 640 | 680052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Harris County Cultural Education Facilities Finance Corp., Houston Methodist Hospital (RB)<br> 4.00%, 06/01/25 (c) | 590 | 577955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Harris County, Cultural Education Facilities Finance Corp., Texas Children's Hospital, Series A (RB)<br> 3.00%, 10/01/31 (c) | 1145 | 1022999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Harris County, Flood Control District, Series A (GO)<br> 4.00%, 10/01/29 (c) | 500 | 504094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Harris County, Humble Independent School District (GO)<br> 5.00%, 02/15/32 (c) | 1000 | 1126393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lamar Consolidated Independent School District (GO)<br> 3.00%, 02/15/31 (c) | 290 | 231720 |
| Leander Independent School District, Series A (GO) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00%, 08/16/26 (c) ^ | 900 | 403039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00%, 08/16/26 (c) ^ | 95 | 38642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Hope Cultural Education Facilities Finance Corp. Hospital, Children's Healthcare, Series A (RB)<br> 4.00%, 08/15/27 (c) | 555 | 557812 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;North Fort Bend Water Authority, Series A (RB)<br> 4.00%, 12/15/29 (c) | 250 | 250691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;North Texas Tollway Authority System, Second Tier (RB)<br> 4.25%, 01/01/28 (c) | 1000 | 996929 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Northwest Independent School District (GO)<br> 4.00%, 02/15/31 (c) | 1000 | 1010715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;San Jacinto College District, Series A (GO)<br> 5.00%, 02/15/29 (c) | 900 | 985155 |

---

------

---

| | | |
|:---|:---|:---|
| | **Par** <br> **(000's** | **Value** |
| **Texas (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tarrant County Cultural Education Facilities Finance Corp., Christus Health, Series B (RB) <br> 5.00%, 01/01/29 (c) | $250 | $260854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Texas Water Development Board (RB)<br> 4.00%, 10/15/30 (c) | 500 | 501004 |
| Texas Water Development Board, Series A (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 10/15/29 (c) | 990 | 986210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 04/15/28 (c) | 325 | 324066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 04/15/28 (c) | 840 | 908404 |
| Texas Water Development Board, Series B (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 10/15/28 (c) | 1000 | 1005353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 10/15/28 (c) | 225 | 242381 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tomball Independent School District (GO)<br> 4.00%, 02/15/30 (c) | 1000 | 1011078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;West Harris County Regional Water Authority (RB)<br> 3.00%, 12/15/29 (c) | 250 | 182754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;West Travis County Public Utility Agency (RB) (BAM)<br> 4.00%, 08/15/27 (c) | 230 | 231306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ysleta Independent School District (GO)<br> 5.00%, 02/15/32 (c) | 500 | 555238 |
|  |  | 29162181 |
| **Utah: 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Salt Lake City, International Airport, Series B (RB)<br> 5.00%, 07/01/28 (c) | 360 | 384882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;University of Utah, Board of Higher Education (RB)<br> 5.00%, 08/01/31 (c) | 800 | 895760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utah County, IHC Health Services, Inc., Series A (RB)<br> 5.00%, 05/15/30 (c) | 250 | 270110 |
| Utah County, IHC Health Services, Inc., Series B (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 05/15/26 (c) | 210 | 174809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 05/15/24 (c) | 350 | 350349 |
|  |  | 2075910 |
| **Virginia: 1.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fairfax County Industrial Development Authority, Inova Health System Project, Series B (RB)<br> 4.00%, 05/15/28 (c) | 250 | 245768 |
| Hampton Roads Transportation Accountability Commission, Hampton Roads Transportation, Series A (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 07/01/30 (c) | 665 | 682946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 07/01/32 (c) | 600 | 590408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 07/01/30 (c) | 625 | 690972 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 07/01/30 (c) | 500 | 549297 |

---

---

| | | |
|:---|:---|:---|
| | **Par** <br> **(000's** | **Value** |
| **Virginia (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Norfolk Economic Development Authority, Series B (RB)<br> 4.00%, 11/01/28 (c) | $250 | $250269 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rector and Visitors of Virginia University, Series A (RB)<br> 4.00%, 04/01/25 (c) | 500 | 501947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;University of Virginia, Series A (RB)<br> 5.00%, 04/01/27 (c) | 1000 | 1079157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virginia Small Business Financing Authority, National senior Campuses, Inc., Series A (RB)<br> 4.00%, 07/01/27 (c) | 500 | 462175 |
|  |  | 5052939 |
| **Washington: 2.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Central Puget Sound Regional Transit Authority, Sales Tax and Motor Vehicle Excise Tax, Series S-1 (RB)<br> 4.00%, 11/01/31 (c) | 1000 | 986606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Seattle, Municipal Light and Power Improvement, Series A (RB)<br> 4.00%, 01/01/28 (c) | 450 | 450176 |
| Energy Northwest, Columbia Generating Station Electric, Series A (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 07/01/31 (c) | 1000 | 1010587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 07/01/31 (c) | 600 | 679689 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 07/01/31 (c) | 455 | 516174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;King County Public Hospital District No. 1, Valley Medical Center (GO) (SAW)<br> 5.00%, 12/01/28 (c) | 150 | 158255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;King County Public Hospital District No. 2, Evergreen Health, Series A (GO)<br> 4.00%, 12/01/29 (c) | 650 | 647280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;State of Washington, Convention Center Public Facilities District (RB)<br> 4.00%, 07/01/28 (c) | 125 | 105447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;State of Washington, Various Purpose, Series C (GO)<br> 5.00%, 02/01/28 (c) | 800 | 865855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;State of Washington, Various Purpose, Series D (GO)<br> 5.00%, 02/01/27 (c) | 735 | 789569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Washington Health Care Facilities Authority, Virginia Mason Medical Center (RB)<br> 4.00%, 08/15/27 (c) | 205 | 189900 |
|  |  | 6399538 |
| **West Virginia: 0.3%** |  |  |
| State of West Virginia, Series B (GO) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 06/01/28 (c) | 150 | 151004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 06/01/28 (c) | 100 | 109128 |

---

VANECK LONG MUNI ETF

SCHEDULE OF INVESTMENTS

(unaudited) (continued)

---

| | | |
|:---|:---|:---|
| | **Par** <br> **(000's** | **Value** |
| **West Virginia (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;West Virginia Parkways Authority, Turnpike Toll (RB)<br> 5.00%, 06/01/31 (c) | $620 | $680284 |
|  |  | 940416 |
| **Wisconsin: 1.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Public Finance Authority Health Care Facilities, Series A (RB)<br> 3.00%, 01/01/30 (c) | 250 | 189247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Public Finance Authority, KU Campus Development Corp. (RB)<br> 5.00%, 03/01/26 (c) | 800 | 835429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Public Finance Authority, Renown Regional Medical Center Project, Series A (RB)<br> 4.25%, 06/01/25 (c) | 500 | 500663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Village of Mount Pleasant, Series A (TA)<br> 5.00%, 04/01/28 (c) | 250 | 262046 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wisconsin Center District, Series D (RB) (AGM)<br> 0.00%, 12/15/30 (c) ^ | 250 | 86815 |

---

---

| | | |
|:---|:---|:---|
| | **Par** <br> **(000's** | **Value** |
| **Wisconsin (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wisconsin Health and Educational Facilities Authority, Children's Hospital, Inc. (RB)<br> 4.00%, 08/15/27 (c) | 500 | $497211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wisconsin Health and Educational Facilities Authority, Marshfield Clinic Health System, Inc., Series A (RB)<br> 5.00%, 02/15/26 (c) | 1000 | 1012373 |
| Wisconsin Health and Educational Facilities Authority, Marshfield Clinic Health System, Inc., Series C (RB) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 02/15/27 (c) | 105 | 98756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 02/15/27 (c) | 115 | 105227 |
|  |  | 3587767 |
| **Wyoming: 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wyoming Community Development Authority (RB)<br> 4.40%, 06/01/32 (c) | 1000 | 1011880 |
| **Total Municipal Bonds: 98.2%** <br> (Cost: $298,034,660) | **Total Municipal Bonds: 98.2%** <br> (Cost: $298,034,660) | 279821784 |
| **Other assets less liabilities: 1.8%** | **Other assets less liabilities: 1.8%** | 5233070 |
| **NET ASSETS: 100.0%** |  | $285054854 |

---

---

| | |
|:---|:---|
| **Definitions:** |  |
| AGC | Assured Guaranty Corp. |
| AGM | Assured Guaranty Municipal Corp. |
| BAM | Build America Assurance Co. |
| CP | Certificate of Participation |
| FHA | Federal Housing Association |
| GO | General Obligation |
| NATL | National Public Finance Guarantee Corp. |
| RB | Revenue Bond |
| SA | Special Assessment |
| SAW | State Aid Withholding |
| SBG | School Board Guaranteed |
| SD CRED PROG | Special District Credit Enhancement Program |
| ST | Special Tax |
| TA | Tax Allocation |

---

**Footnotes:**

---

| | |
|:---|:---|
| (c) | Callable Security — the redemption date shown is when the security may be redeemed by the issuer |
| (p) | Putable Security — the redemption date shown is when the security may be redeemed by the investor |
| ^ | Zero Coupon Bond |

---

------

---

| | | |
|:---|:---|:---|
| **Summary of Investments by Sector** | **% of <br> Investments** | **Value** |
| Hospitals | 16.0% | $44685277 |
| Tax | 14.5 | 40485198 |
| Local GO | 13.8 | 38482949 |
| Water & Sewer | 10.2 | 28456911 |
| Education | 7.8 | 21733788 |
| Toll & Turnpike | 7.5 | 20874733 |
| State GO | 5.7 | 16058191 |
| Transportation | 4.9 | 13809994 |
| Power | 3.7 | 10289214 |
| Leasing COPS & Appropriations | 3.6 | 10206297 |
| Airport | 3.3 | 9243754 |
| Single Family Housing | 2.6 | 7393671 |
| Utilities - Other | 2 | 5648778 |
| Tobacco | 1.1 | 2954885 |
| Misc | 1 | 2944674 |
| Multi-Family Housing | 1 | 2932505 |
| Industrial Development Revenue | 0.7 | 1991670 |
| Health | 0.4 | 1068261 |
| Pollution Control | 0.2 | 561034 |
|  | 100.0% | $279821784 |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** VanEck ETF Trust

- **b. Investment Company Act file number:** 811-10325

- **c. CIK number of Registrant:** 0001137360

- **d. LEI of Registrant:** 549300ZLFKNTXC51ZN76

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

  - **Street Address 1:** 666 THIRD AVENUE, 9TH FLOOR

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10017

  - **Telephone number:** 212-293-2000

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

- **a. Name of Series:** VanEck Long Muni ETF

- **b. EDGAR series identifier (if any):** S000019191

- **c. LEI of Series:** 549300IDZV3WP33JOF22

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

- **a. Date of fiscal year-end:** 2023-04-30

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $288109472.65

**Total Liabilities:** $3062812.21

**Net Assets:** $285046660.44

**Delayed Delivery Securities:** $3005490.00

**Cash Not Reported:** $5135794.30

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -323.99000000 | **1-Year:** -9142.37000000 | **5-Year:** -58557.03000000 | **10-Year:** -115106.19000000 | **30-Year:** -44888.01000000

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000053008 | 7.87%                | -0.68%               | 4.20%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2368249.41             | $18375504.83                               |
| Month 2  | $-239697.54              | $-2563755.73                               |
| Month 3  | $-1646043.14             | $12151845.07                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Perris Union High School District/CA                                             | PERRIS CA UNION HIGH SCH DIST                                | CUSIP: 714398KF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $901199.70    | 0.32%             | 2048-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Multnomah County School District No 1 Portland/OR                                | MULTNOMAH CNTY OR SCH DIST #1J PORTLAND                      | CUSIP: 625517LY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $382615.75    | 0.13%             | 2042-06-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE         | CUSIP: 64990FYK4<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    500000 | PA      | $425202.15    | 0.15%             | 2042-03-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| State of New York Mortgage Agency                                                | NEW YORK ST MTGE AGY HOMEOWNER MTGE REVENUE                  | CUSIP: 649883Y82<br>LEI: 549300ZQWNLLIG564027 | Long             | DBT              | MUN               | US        |    190000 | PA      | $167103.84    | 0.06%             | 2041-10-01      | Fixed         | 3.50%                 | 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: 64972GRX4<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |    250000 | PA      | $272586.18    | 0.10%             | 2040-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Energy Northwest                                                                 | ENERGY N W WA ELEC REVENUE                                   | CUSIP: 29270C4L6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010587.00   | 0.35%             | 2042-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Great Lakes Water Authority Water Supply System Revenue                          | GREAT LAKES MI WTR AUTH WTR SPLY SYS REVENUE                 | CUSIP: 39081JAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    570000 | PA      | $593944.39    | 0.21%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lancaster County Hospital Authority/PA                                           | LANCASTER CNTY PA HOSP AUTH                                  | CUSIP: 514045W66<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1041546.70   | 0.37%             | 2051-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chester County Health and Education Facilities Authority                         | CHESTER CNTY PA HLTH & EDU FACS AUTH HLTH SYS REVENUE        | CUSIP: 16557HFK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $208700.46    | 0.07%             | 2041-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Austin Independent School District                                               | AUSTIN TX INDEP SCH DIST                                     | CUSIP: 052430WD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003419.20   | 0.35%             | 2048-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH HOSP REVENUE                            | CUSIP: 63609XAV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $401022.80    | 0.14%             | 2046-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| City & County of Denver CO                                                       | DENVER CO CITY & CNTY COPS                                   | CUSIP: 249183YH1<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |    285000 | PA      | $283100.10    | 0.10%             | 2048-06-01      | Fixed         | 4.00%                 | 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: 64972GXW9<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |    660000 | PA      | $583398.49    | 0.20%             | 2040-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| County of Cook IL Sales Tax Revenue                                              | COOK CNTY IL SALES TAX REVENUE                               | CUSIP: 213248BK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $159178.94    | 0.06%             | 2039-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts Transportation Fund Revenue                        | MASSACHUSETTS ST TRANSPRTN FUND REVENUE                      | CUSIP: 57604TKA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $564783.70    | 0.20%             | 2042-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| King County Public Hospital District No 1                                        | KING CNTY WA PUBLIC HOSP DIST #1                             | CUSIP: 494782LF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $158254.89    | 0.06%             | 2043-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power Water System Revenue                     | LOS ANGELES CA DEPT OF WTR & PWR WTRWKS REVENUE              | CUSIP: 544525Q35<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $568030.80    | 0.20%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington Health Care Facilities Authority                                      | WASHINGTON ST HLTH CARE FACS AUTH                            | CUSIP: 93978HSS5<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |    205000 | PA      | $189900.19    | 0.07%             | 2042-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts Transportation Fund Revenue                        | MASSACHUSETTS ST TRANSPRTN FUND REVENUE                      | CUSIP: 57604THL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $643829.52    | 0.23%             | 2050-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| University of Virginia                                                           | UNIV OF VIRGINIA VA UNIV REVENUES                            | CUSIP: 915217WP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1079156.90   | 0.38%             | 2042-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UAB Medicine Finance Authority                                                   | UAB MEDICINE FIN AUTH AL REVENUE                             | CUSIP: 902562CK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $281082.20    | 0.10%             | 2047-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Health Care Facilities Financing Authority                            | NEW JERSEY ST HLTH CARE FACS FING AUTH REVENUE               | CUSIP: 645790QB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    555000 | PA      | $563015.14    | 0.20%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chester County Health and Education Facilities Authority                         | CHESTER CNTY PA HLTH & EDU FACS AUTH HLTH SYS REVENUE        | CUSIP: 16557HEB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $173798.89    | 0.06%             | 2047-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Missouri Housing Development Commission                                          | MISSOURI ST HSG DEV COMMISSION SF MTGE REVENUE               | CUSIP: 60637BWL0<br>LEI: 5493007FBL7WCV3NKY25 | Long             | DBT              | MUN               | US        |    190000 | PA      | $178818.65    | 0.06%             | 2049-11-01      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| Louisville and Jefferson County Metropolitan Sewer District                      | LOUISVILLE & JEFFERSON CNTY KY MET SWR DIST SWR & DRAIN SYS  | CUSIP: 546589H47<br>LEI: 5493004O4I11L8BK0A22 | Long             | DBT              | MUN               | US        |    235000 | PA      | $202666.54    | 0.07%             | 2046-05-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                             | DIST OF COLUMBIA INCOME TAX SECURED REVENUE                  | CUSIP: 25477GRX5<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    575000 | PA      | $435637.14    | 0.15%             | 2045-03-01      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | ILLINOIS ST FIN AUTH REVENUE                                 | CUSIP: 45203HY22<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1004460.00   | 0.35%             | 2044-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                              | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                  | CUSIP: 70879QNT6<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |    500000 | PA      | $370875.30    | 0.13%             | 2041-10-01      | Fixed         | 2.28%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power Water System Revenue                     | LOS ANGELES CA DEPT OF WTR & PWR WTRWKS REVENUE              | CUSIP: 544525XE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $271923.35    | 0.10%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Leander Independent School District                                              | LEANDER TX INDEP SCH DIST                                    | CUSIP: 521841RB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $403038.63    | 0.14%             | 2042-08-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| State of Washington                                                              | WASHINGTON ST                                                | CUSIP: 93974D2V9<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |    800000 | PA      | $865854.72    | 0.30%             | 2042-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | CUSIP: 64990CJB8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    420000 | PA      | $432173.53    | 0.15%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                 | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                    | CUSIP: 13033LS57<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $951678.90    | 0.33%             | 2043-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                                 | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709225AW6<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    800000 | PA      | $865649.84    | 0.30%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Port St Lucie FL                                                         | PORT SAINT LUCIE FL SPL ASSMNT REVENUE                       | CUSIP: 73535ELE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $157954.12    | 0.06%             | 2041-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                             | DIST OF COLUMBIA INCOME TAX SECURED REVENUE                  | CUSIP: 25477GRW7<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    275000 | PA      | $241934.39    | 0.08%             | 2041-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue          | NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE               | CUSIP: 64971XUD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $502709.40    | 0.18%             | 2041-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                           | CALIFORNIA ST MUNI FIN AUTH LEASE REVENUE                    | CUSIP: 13049UCZ0<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    200000 | PA      | $200540.38    | 0.07%             | 2047-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                       | MICHIGAN ST FIN AUTH REVENUE                                 | CUSIP: 59447TMQ3<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    225000 | PA      | $217657.08    | 0.08%             | 2046-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tennessee Housing Development Agency                                             | TENNESSEE HSG DEV AGY RSDL FIN PROGRAM REVENUE               | CUSIP: 880461SB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    185000 | PA      | $179693.28    | 0.06%             | 2040-07-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Ysleta Independent School District                                               | YSLETA TX INDEP SCH DIST                                     | CUSIP: 98816PFP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $555237.65    | 0.19%             | 2056-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                              | WISCONSIN ST HLTH & EDUCTNL FACS AUTH REVENUE                | CUSIP: 97712DA71<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    115000 | PA      | $105227.52    | 0.04%             | 2050-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State Health & Educational Facilities Authority                      | CONNECTICUT ST HLTH & EDUCTNL FACS AUTH REVENUE              | CUSIP: 20775DJT0<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    300000 | PA      | $293519.28    | 0.10%             | 2045-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Atlanta Rapid Transit Authority                                     | MET ATLANTA GA RAPID TRANSIT AUTH SALES TAX REVENUE          | CUSIP: 5917456F6<br>LEI: 5493006NVWO3NVLK0F49 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $826283.00    | 0.29%             | 2047-07-01      | Fixed         | 3.00%                 | 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: 64972GYJ7<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |    500000 | PA      | $549292.20    | 0.19%             | 2051-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Montgomery County Higher Education and Health Authority                          | MONTGOMERY CNTY PA HGR EDU & HLTH AUTH                       | CUSIP: 613603XG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $142760.13    | 0.05%             | 2047-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Educational Facilities Authority                                      | NEW JERSEY ST EDUCTNL FACS AUTH REVENUE                      | CUSIP: 646067CP1<br>LEI: 549300UTOO4X537XXG70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $354346.60    | 0.12%             | 2041-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Development Authority of Burke County/The                                        | BURKE CNTY GA DEV AUTH POLL CONTROL REVENUE                  | CUSIP: 121342PM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $243768.72    | 0.09%             | 2045-11-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Omaha-Douglas Public Building Commission                                         | OMAHA-DOUGLAS NE PUBLIC BLDG COMMISSION                      | CUSIP: 681669FS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $555486.64    | 0.19%             | 2050-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Miracosta Community College District                                             | MIRACOSTA CA CMNTY CLG DIST                                  | CUSIP: 604617BB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $537537.77    | 0.19%             | 2042-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Board of Regents of the University of Texas System                               | UNIV OF TEXAS TX UNIV REVENUES                               | CUSIP: 91514AGY5<br>LEI: TEHUYFNKZR6XVWLGEU86 | Long             | DBT              | MUN               | US        |    650000 | PA      | $659145.50    | 0.23%             | 2044-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Urban Development Corp                                            | NEW YORK ST URBAN DEV CORP SALES TAX REVENUE                 | CUSIP: 64985TCX7<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $802278.20    | 0.28%             | 2050-03-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Bay Transportation Authority Sales Tax Revenue                     | MASSACHUSETTS ST BAY TRANSPRTN AUTH SALES TAX REVENUE        | CUSIP: 575579L70<br>LEI: 549300D2U0XBUXGX8P68 | Long             | DBT              | MUN               | US        |    800000 | PA      | $790156.48    | 0.28%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Texas Water Development Board                                                    | TEXAS ST WTR DEV BRD                                         | CUSIP: 8828544U3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $501004.10    | 0.18%             | 2045-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Industrial Development Authority of the County of Pima/The                       | PIMA CNTY AZ INDL DEV AUTH                                   | CUSIP: 721901KW5<br>LEI: 549300QDTQ25545R4K19 | Long             | DBT              | MUN               | US        |    750000 | PA      | $709965.45    | 0.25%             | 2046-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | ILLINOIS ST FIN AUTH REVENUE                                 | CUSIP: 45204FBF1<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500396.90    | 0.18%             | 2041-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City Of South Miami Health Facilities Authority Inc                              | S MIAMI FL HLTH FACS AUTH                                    | CUSIP: 838810EE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $283012.59    | 0.10%             | 2047-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                              | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                  | CUSIP: 7087968F7<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |    260000 | PA      | $242161.40    | 0.08%             | 2042-10-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Georgia Housing & Finance Authority                                              | GEORGIA ST HSG & FIN AUTH REVENUE                            | CUSIP: 3735393E3<br>LEI: 549300I628IMF9PWV724 | Long             | DBT              | MUN               | US        |    230000 | PA      | $212142.06    | 0.07%             | 2041-12-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| Iowa Higher Education Loan Authority                                             | IOWA ST HGR EDU LOAN AUTH                                    | CUSIP: 4624605V4<br>LEI: 549300DWVTM3KRNR0M36 | Long             | DBT              | MUN               | US        |    300000 | PA      | $320119.14    | 0.11%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Anaheim Housing & Public Improvements Authority                                  | ANAHEIM CA HSG & PUBLIC IMPT AUTH REVENUE                    | CUSIP: 032556JE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $521760.40    | 0.18%             | 2045-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State Health & Educational Facilities Authority                      | CONNECTICUT ST HLTH & EDUCTNL FACS AUTH REV                  | CUSIP: 20774YYL5<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    750000 | PA      | $771979.13    | 0.27%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Water Reclamation District of Greater Chicago                       | CHICAGO IL MET WTR RECLAMATION DIST GREATER CHICAGO          | CUSIP: 167560VE8<br>LEI: 254900GOGQEZEWCZ4D37 | Long             | DBT              | MUN               | US        |    500000 | PA      | $486654.55    | 0.17%             | 2046-12-01      | 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: 64971XL55<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    565000 | PA      | $631768.48    | 0.22%             | 2044-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Pennsylvania                                                     | PENNSYLVANIA ST COPS                                         | CUSIP: 709144PB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1170000 | PA      | $1148523.48   | 0.40%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Sacramento City Unified School District/CA                                       | SACRAMENTO CITY CA UNIF SCH DIST                             | CUSIP: 785870B88<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500902.90    | 0.18%             | 2049-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                              | NEW YORK NY                                                  | CUSIP: 64966QJZ4<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1093750.40   | 0.38%             | 2043-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade FL Transit System                                           | MIAMI-DADE CNTY FL TRANSIT SALES SURTAX REVENUE              | CUSIP: 59334PHP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $501637.85    | 0.18%             | 2044-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Central Puget Sound Regional Transit Authority                                   | CENTRL PUGET SOUND WA REGL TRANSIT AUTH SALES TAX & MOTOR VE | CUSIP: 155048EG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $986605.60    | 0.35%             | 2046-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                                 | MINNESOTA ST HSG FIN AGY                                     | CUSIP: 60416TCP1<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    890000 | PA      | $643114.36    | 0.23%             | 2045-07-01      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                 | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                    | CUSIP: 13032UDT2<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $997659.30    | 0.35%             | 2041-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                       | MICHIGAN ST FIN AUTH REVENUE                                 | CUSIP: 59447TUH4<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    135000 | PA      | $139932.87    | 0.05%             | 2048-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Salt Lake City UT Airport Revenue                                        | SALT LAKE CITY UT ARPT REVENUE                               | CUSIP: 795576JC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    360000 | PA      | $384881.83    | 0.14%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                                  | NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE     | CUSIP: 64972GYC2<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |    640000 | PA      | $631773.31    | 0.22%             | 2050-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California State University                                                      | CALIFORNIA ST UNIV REVENUE                                   | CUSIP: 13077DAY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    335000 | PA      | $358121.70    | 0.13%             | 2047-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                            | LOUISIANA PUB FACS AUTH REVENUE                              | CUSIP: 546399CM6<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    230000 | PA      | $229861.10    | 0.08%             | 2042-05-15      | Fixed         | 4.00%                 | 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: 79766DSC4<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1076015.00   | 0.38%             | 2050-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue          | NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE               | CUSIP: 64971W7J3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    420000 | PA      | $447827.56    | 0.16%             | 2043-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Idaho Health Facilities Authority                                                | IDAHO ST HLTH FACS AUTH REVENUE                              | CUSIP: 451295WT2<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |    500000 | PA      | $504638.10    | 0.18%             | 2044-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Jacksonville FL                                                          | JACKSONVILLE FL SPL REVENUE                                  | CUSIP: 469487MR0<br>LEI: 549300XQE0JVN9WV0J40 | Long             | DBT              | MUN               | US        |    250000 | PA      | $271398.33    | 0.10%             | 2047-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                            | MET TRANSPRTN AUTH NY REVENUE                                | CUSIP: 59261AMC8<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    400000 | PA      | $370512.80    | 0.13%             | 2043-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | CUSIP: 64990C7P0<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    400000 | PA      | $438502.28    | 0.15%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia Gas Works Co                                                        | PHILADELPHIA PA GAS WKS REVENUE                              | CUSIP: 71783MAZ8<br>LEI: 549300H8UJ7V5WU5IA90 | Long             | DBT              | MUN               | US        |    805000 | PA      | $836626.28    | 0.29%             | 2047-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                            | MET TRANSPRTN AUTH NY REVENUE                                | CUSIP: 59261ATJ6<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1245000 | PA      | $1157766.09   | 0.41%             | 2042-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Ohio Water Development Authority Water Pollution Control Loan Fund               | OHIO ST WTR DEV AUTH WTR POLLCONTROL REVENUE                 | CUSIP: 67766WE65<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $561034.25    | 0.20%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California County Tobacco Securitization Agency                                  | CALIFORNIA CNTY CA TOBACCO SECURITIZATION AGY TOBACCO SETTLE | CUSIP: 13016NEZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1246406.81   | 0.44%             | 2049-06-01      | Fixed         | 4.00%                 | 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: 64972GUE2<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |    200000 | PA      | $221427.00    | 0.08%             | 2040-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Combined Utility System Revenue                               | HOUSTON TX UTILITY SYS REVENUE                               | CUSIP: 44244CTA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $238535.26    | 0.08%             | 2043-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                             | TRIBOROUGH NY BRIDGE & TUNNEL AUTH REVENUES                  | CUSIP: 89602RFZ3<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1090498.50   | 0.38%             | 2049-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Dakota Health & Educational Facilities Authority                           | SOUTH DAKOTA ST HLTH & EDUCTNL FACS AUTH                     | CUSIP: 83755VE26<br>LEI: 549300ZW6LKR8UI2C378 | Long             | DBT              | MUN               | US        |    750000 | PA      | $769495.65    | 0.27%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Educational Facilities Authority                                      | CALIFORNIA ST EDUCTNL FACS AUTH REVENUE                      | CUSIP: 130179SD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $309917.73    | 0.11%             | 2049-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Mortgage Finance Authority                                            | NEW MEXICO ST MTGE FIN AUTH                                  | CUSIP: 647201JG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $257134.88    | 0.09%             | 2044-07-01      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI LEASE DEV REVENUE                         | CUSIP: 74444YAW4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    800000 | PA      | $835429.44    | 0.29%             | 2046-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Florida Expressway Authority                                             | CENTRL FL EXPRESSWAY AUTH SR LIEN REVENUE                    | CUSIP: 153476DC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    345000 | PA      | $345532.37    | 0.12%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Sacramento County Sanitation Districts Financing Authority                       | SACRAMENTO CNTY CA SANTN DISTS FING AUTH REVENUE             | CUSIP: 786134VY9<br>LEI: 549300MSDPX3EYMUYV38 | Long             | DBT              | MUN               | US        |    450000 | PA      | $504122.00    | 0.18%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of West Virginia                                                           | WEST VIRGINIA ST                                             | CUSIP: 956553D57<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $151004.37    | 0.05%             | 2043-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Broome County Local Development Corp                                             | BROOME CNTY NY LOCAL DEV CORP REVENUE                        | CUSIP: 114731AS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    925000 | PA      | $925141.34    | 0.32%             | 2040-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Baltimore MD                                                           | BALTIMORE CNTY MD                                            | CUSIP: 05914FU32<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $253969.90    | 0.09%             | 2042-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                            | MET TRANSPRTN AUTH NY REVENUE                                | CUSIP: 59259YM71<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    600000 | PA      | $600972.60    | 0.21%             | 2043-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue          | NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE               | CUSIP: 64971XYC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $426181.67    | 0.15%             | 2051-02-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Health Care Facilities Financing Authority                            | NEW JERSEY ST HLTH CARE FACS FING AUTH REVENUE               | CUSIP: 645790AV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $502245.20    | 0.18%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                     | MASSACHUSETTS ST PORT AUTH                                   | CUSIP: 575896UH6<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |    305000 | PA      | $334554.29    | 0.12%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                              | NEW YORK NY                                                  | CUSIP: 64966QBD1<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    470000 | PA      | $469105.07    | 0.16%             | 2043-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Broward FL Tourist Development Tax Revenue                             | BROWARD CNTY FL TOURIST DEV TAX REVENUE                      | CUSIP: 115085AW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $973029.30    | 0.34%             | 2047-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Santa Clara Unified School District                                              | SANTA CLARA CA UNIF SCH DIST                                 | CUSIP: 8014952D3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    310000 | PA      | $311486.23    | 0.11%             | 2048-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Dalton Whitfield County Joint Development Authority                              | DALTON WHITFIELD CNTY JT DEV AUTH                            | CUSIP: 235641AM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    185000 | PA      | $185685.37    | 0.07%             | 2048-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities & Community Development Auth | LOUISIANA ST LOCAL GOVT ENVRNMNTL FACS & CMNTY DEV AUTH REVE | CUSIP: 54628CAS1<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |    230000 | PA      | $231084.31    | 0.08%             | 2041-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Henderson NV                                                             | HENDERSON NV                                                 | CUSIP: 4252006W7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $673186.61    | 0.24%             | 2050-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                             | TRIBOROUGH NY BRIDGE & TUNNEL AUTH PAYROLL MOBILITY TAX      | CUSIP: 89602HBY2<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |    750000 | PA      | $733376.33    | 0.26%             | 2051-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power Water System Revenue                     | LOS ANGELES CA DEPT OF WTR & PWR WTRWKS REVENUE              | CUSIP: 544525ZF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $903502.32    | 0.32%             | 2041-07-01      | 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        |    525000 | PA      | $400621.78    | 0.14%             | 2040-11-01      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| Lamar Consolidated Independent School District                                   | LAMAR TX CONSOL INDEP SCH DIST                               | CUSIP: 513174ZV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $231720.09    | 0.08%             | 2056-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                         | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57584X3E9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    250000 | PA      | $253667.73    | 0.09%             | 2041-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Washoe County School District/NV                                                 | WASHOE CNTY NV SCH DIST                                      | CUSIP: 940859BP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $94307.51     | 0.03%             | 2039-10-01      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| City of San Francisco CA Public Utilities Commission Water Revenue               | SAN FRANCISCO CITY & CNTY CA PUBLIC UTILITIES COMMISSION WTR | CUSIP: 79765R5J4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $360649.54    | 0.13%             | 2050-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Nebraska Facilities Corp/The                                       | UNIV OF NEBRASKA NE FACS CORP                                | CUSIP: 914639LD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $731792.25    | 0.26%             | 2059-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of San Antonio TX Electric & Gas Systems Revenue                            | SAN ANTONIO TX ELEC & GAS REVENUE                            | CUSIP: 79625GDV2<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1095929.70   | 0.38%             | 2046-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Tampa FL Water & Wastewater System Revenue                               | TAMPA FL WTR & WSTWTR SYS REVENUE                            | CUSIP: 875291BM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $570447.50    | 0.20%             | 2047-10-01      | 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: 79766DKK4<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |    700000 | PA      | $737790.27    | 0.26%             | 2047-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Multnomah County School District No 1 Portland/OR                                | MULTNOMAH CNTY OR SCH DIST #1J PORTLAND                      | CUSIP: 625517KM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    295000 | PA      | $265249.25    | 0.09%             | 2042-06-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| UAB Medicine Finance Authority                                                   | UAB MEDICINE FIN AUTH AL REVENUE                             | CUSIP: 902562BA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $229596.07    | 0.08%             | 2041-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Corpus Christi TX Utility System Revenue                                 | CORPUS CHRISTI TX UTILITY SYSREVENUE                         | CUSIP: 220245J70<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    295000 | PA      | $295824.64    | 0.10%             | 2045-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| El Dorado Irrigation District                                                    | EL DORADO CA IRR DIST COPS                                   | CUSIP: 283059GC1<br>LEI: 54930090GZM9I8KVSN04 | Long             | DBT              | MUN               | US        |    630000 | PA      | $638355.12    | 0.22%             | 2045-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE         | CUSIP: 64990FA46<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    500000 | PA      | $545089.80    | 0.19%             | 2049-03-15      | 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: 64972GDE1<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006394.80   | 0.35%             | 2046-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Transit Authority Sales Tax Receipts Fund                                | CHICAGO IL TRANSIT AUTH SALES TAX RECPTS REVENUE             | CUSIP: 16772PBF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $764178.75    | 0.27%             | 2049-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                       | MICHIGAN ST FIN AUTH REVENUE                                 | CUSIP: 59447TCT8<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    500000 | PA      | $510474.70    | 0.18%             | 2045-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Allen OH Hospital Facilities Revenue                                   | ALLEN CNTY OH HOSP FACS REVENUE                              | CUSIP: 01757LFG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $613828.08    | 0.22%             | 2043-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Weld County School District No 6 Greeley                                         | WELD CNTY CO SCH DIST #6 GREELEY                             | CUSIP: 949289QU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $809708.00    | 0.28%             | 2045-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power                                          | LOS ANGELES CA DEPT WTR & PWR REVENUE                        | CUSIP: 5444956T6<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    775000 | PA      | $847905.72    | 0.30%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas Water Development Board                                                    | TEXAS ST WTR DEV BRD                                         | CUSIP: 882854J78<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $324065.85    | 0.11%             | 2048-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Ohio Water Development Authority                                                 | OHIO ST WTR DEV AUTH REVENUE                                 | CUSIP: 67765QHN9<br>LEI: 549300QMBH1DMY67FZ74 | Long             | DBT              | MUN               | US        |    500000 | PA      | $554151.70    | 0.19%             | 2044-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                      | CUSIP: 6461367G0<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    250000 | PA      | $267127.70    | 0.09%             | 2040-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hampton Roads Transportation Accountability Commission                           | HAMPTON ROADS VA TRANSPRTN ACCOUNTABILITY COMMISSION         | CUSIP: 409328BT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $590407.98    | 0.21%             | 2057-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Regional Transportation District Sales Tax Revenue                               | REGL TRANSPRTN DIST CO SALES TAX REVENUE                     | CUSIP: 759136VA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $597587.15    | 0.21%             | 2041-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Battery Park City Authority                                                      | BATTERY PARK CITY NY AUTH                                    | CUSIP: 07133AHJ4<br>LEI: 549300RF3SFDOWRHVM56 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1013528.70   | 0.36%             | 2044-11-01      | Fixed         | 4.00%                 | 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: 64972GBN3<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |    710000 | PA      | $672333.08    | 0.24%             | 2047-06-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Board of Governors of Colorado State University System                           | COLORADO ST BRD OF GOVERNORS UNIV ENTERPRISE SYS REVENUE     | CUSIP: 196707XS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $544570.13    | 0.19%             | 2047-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Energy Northwest                                                                 | ENERGY N W WA ELEC REVENUE                                   | CUSIP: 29270C4J1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $516173.70    | 0.18%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                              | CALIFORNIA ST                                                | CUSIP: 13063DPX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $418920.35    | 0.15%             | 2049-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| New York State Urban Development Corp                                            | NEW YORK ST URBAN DEV CORP REVENUE                           | CUSIP: 650036AK2<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |    500000 | PA      | $504999.50    | 0.18%             | 2040-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                           | CALIFORNIA STWD CMNTYS DEV AUTH REVENUE                      | CUSIP: 13080SUG7<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    200000 | PA      | $182703.06    | 0.06%             | 2045-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chino Valley Unified School District                                             | CHINO VLY CA UNIF SCH DIST                                   | CUSIP: 169583HB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    620000 | PA      | $681748.47    | 0.24%             | 2055-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| West Valley-Mission Community College District                                   | W VLY-MISSION CA CMNTY CLG DIST                              | CUSIP: 95640HJL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $253570.63    | 0.09%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Hillsborough FL                                                        | HILLSBOROUGH CNTY FL CAP IMPT NON-AD VALOREM REVENUE         | CUSIP: 43232RCE8<br>LEI: 549300L0R7XNYJEJGF23 | Long             | DBT              | MUN               | US        |    500000 | PA      | $327807.75    | 0.12%             | 2051-08-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                    | MASSACHUSETTS ST                                             | CUSIP: 57582RA89<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |    360000 | PA      | $294437.09    | 0.10%             | 2048-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                                 | MINNESOTA ST HSG FIN AGY                                     | CUSIP: 60416TEA2<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    530000 | PA      | $391828.63    | 0.14%             | 2051-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp                                                | NEW YORK ST LIBERTY DEV CORP LIBERTY REVENUE                 | CUSIP: 649519EM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    620000 | PA      | $604546.56    | 0.21%             | 2043-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Indianapolis Local Public Improvement Bond Bank                                  | INDIANAPOLIS IN LOCAL PUBLIC IMPT BOND BANK                  | CUSIP: 45528UZK0<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1063301.80   | 0.37%             | 2054-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Monroe County Industrial Development Corp/NY                                     | MONROE CNTY NY INDL DEV CORP REVENUE                         | CUSIP: 61075TUV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $882702.45    | 0.31%             | 2050-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                 | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                    | CUSIP: 13032UWP9<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |    750000 | PA      | $745257.08    | 0.26%             | 2050-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                          | SOUTH CAROLINA ST PUBLIC SVC AUTH REVENUE                    | CUSIP: 837151ZZ5<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    500000 | PA      | $468414.95    | 0.16%             | 2052-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Allen OH Hospital Facilities Revenue                                   | ALLEN CNTY OH HOSP FACS REVENUE                              | CUSIP: 01757LGF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    510000 | PA      | $492521.13    | 0.17%             | 2047-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Thruway Authority                                                 | NEW YORK ST THRUWAY AUTH PERSONAL INCOME TAX REVENUE         | CUSIP: 650028XA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $531276.06    | 0.19%             | 2040-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                             | DIST OF COLUMBIA                                             | CUSIP: 25476FXS2<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    100000 | PA      | $103336.45    | 0.04%             | 2039-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Abag Finance Authority for Nonprofit Corps                                       | ABAG CA FIN AUTH FOR NONPROFIT CORPS                         | CUSIP: 00037CVN7<br>LEI: 549300EWVCCTI6O2KU84 | Long             | DBT              | MUN               | US        |    500000 | PA      | $503360.80    | 0.18%             | 2043-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wayne County Airport Authority                                                   | WAYNE CNTY MI ARPT AUTH REVENUE                              | CUSIP: 944514WC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    190000 | PA      | $202955.63    | 0.07%             | 2042-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                              | WISCONSIN ST HLTH & EDUCTNL FACS AUTH REVENUE                | CUSIP: 97712DUG9<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1012372.50   | 0.36%             | 2046-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Brookhaven Development Authority                                                 | BROOKHAVEN DEV AUTH GA                                       | CUSIP: 113073AW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    660000 | PA      | $663313.79    | 0.23%             | 2044-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                                          | PORT AUTH OF NEW YORK & NEW JERSEY NY                        | CUSIP: 73358WQZ0<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |    500000 | PA      | $507644.60    | 0.18%             | 2043-12-01      | 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: 64972EXR5<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    800000 | PA      | $569765.36    | 0.20%             | 2041-11-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                       | MICHIGAN ST FIN AUTH REVENUE                                 | CUSIP: 59447TUJ0<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    250000 | PA      | $238355.53    | 0.08%             | 2050-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Austin TX Airport System Revenue                                         | AUSTIN TX ARPT SYS REVENUE                                   | CUSIP: 052398FD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $295903.16    | 0.10%             | 2041-11-15      | 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: 64972CU35<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    250000 | PA      | $213884.50    | 0.08%             | 2052-11-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| North Carolina Turnpike Authority                                                | NORTH CAROLINA ST TURNPIKE AUTH                              | CUSIP: 65830RCQ0<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |    750000 | PA      | $781849.13    | 0.27%             | 2049-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Washington                                                              | WASHINGTON ST                                                | CUSIP: 93974DG36<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |    735000 | PA      | $789569.12    | 0.28%             | 2040-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                      | CUSIP: 6461364Z1<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    910000 | PA      | $917279.64    | 0.32%             | 2049-06-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| State of Ohio                                                                    | OHIO ST HOSP FAC REVENUE                                     | CUSIP: 677561KU5<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |    335000 | PA      | $339263.44    | 0.12%             | 2041-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Board of Regents of the University of Texas System                               | UNIV OF TEXAS TX UNIV REVENUES                               | CUSIP: 91514AKK0<br>LEI: TEHUYFNKZR6XVWLGEU86 | Long             | DBT              | MUN               | US        |    525000 | PA      | $461009.27    | 0.16%             | 2041-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Illinois Housing Development Authority                                           | ILLINOIS ST HSG DEV AUTH REVENUE                             | CUSIP: 45203MJZ5<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |    500000 | PA      | $523546.20    | 0.18%             | 2042-10-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                             | TRIBOROUGH NY BRIDGE & TUNNEL AUTH REVENUES                  | CUSIP: 89602RGA7<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |    750000 | PA      | $813318.68    | 0.29%             | 2054-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                              | CALIFORNIA ST                                                | CUSIP: 13063DQ76<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    660000 | PA      | $715405.42    | 0.25%             | 2042-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Power Authority                                                         | NEW YORK ST PWR AUTH REVENUE                                 | CUSIP: 64989KLE4<br>LEI: I5P1GEYFGGMMDOFX2L30 | Long             | DBT              | MUN               | US        |    500000 | PA      | $495157.30    | 0.17%             | 2050-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Florida Department of Transportation Turnpike System Revenue            | FLORIDA ST TURNPIKE AUTH TURNPIKE REVENUE                    | CUSIP: 343137QQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1118440.90   | 0.39%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| El Dorado Irrigation District                                                    | EL DORADO CA IRR DIST COPS                                   | CUSIP: 283059GD9<br>LEI: 54930090GZM9I8KVSN04 | Long             | DBT              | MUN               | US        |    690000 | PA      | $694991.87    | 0.24%             | 2050-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| El Paso Independent School District                                              | EL PASO TX INDEP SCH DIST                                    | CUSIP: 283770NA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005961.90   | 0.35%             | 2048-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California State Public Works Board                                              | CALIFORNIA ST PUBLIC WKS BRD LEASE REVENUE                   | CUSIP: 13068XDG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1122681.60   | 0.39%             | 2046-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Upper Merion Area School District/PA                                             | UPPER MERION PA AREA SCH DIST                                | CUSIP: 915899RJ9<br>LEI: 549300VSHSYXQGHRSD87 | Long             | DBT              | MUN               | US        |    500000 | PA      | $505850.85    | 0.18%             | 2046-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Oklahoma Turnpike Authority                                                      | OKLAHOMA ST TURNPIKE AUTH                                    | CUSIP: 679111WT7<br>LEI: 549300J83EP2PBDYH615 | Long             | DBT              | MUN               | US        |    350000 | PA      | $346791.87    | 0.12%             | 2047-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Sarasota FL Utility System Revenue                                     | SARASOTA CNTY FL UTILITY SYS REVENUE                         | CUSIP: 803321QT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $547612.45    | 0.19%             | 2050-10-01      | 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: 64972ELD9<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    560000 | PA      | $436373.22    | 0.15%             | 2049-11-01      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| University of North Carolina at Chapel Hill                                      | UNIV OF NORTH CAROLINA AT CHAPEL HILL NC HOSP REVENUE        | CUSIP: 914714CY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $949059.44    | 0.33%             | 2045-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | CUSIP: 64990CJC6<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    475000 | PA      | $453045.93    | 0.16%             | 2043-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Public Utilities Commission Wastewater Revenue       | SAN FRANCISCO CITY & CNTY CA PUBLIC UTILS COMMISSION WSTWTR  | CUSIP: 79768HFT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    885000 | PA      | $888327.16    | 0.31%             | 2048-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                | ILLINOIS ST                                                  | CUSIP: 452152Y62<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    630000 | PA      | $648687.63    | 0.23%             | 2041-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Diego Unified School District/CA                                             | SAN DIEGO CA UNIF SCH DIST                                   | CUSIP: 7973555W0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $211980.70    | 0.07%             | 2042-07-01      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                              | NEW YORK NY                                                  | CUSIP: 64966QFU9<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    110000 | PA      | $93229.62     | 0.03%             | 2044-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Dallas Independent School District                                               | DALLAS TX INDEP SCH DIST                                     | CUSIP: 235308M42<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $996641.80    | 0.35%             | 2053-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                              | NEW YORK NY                                                  | CUSIP: 64966QXX3<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $978933.60    | 0.34%             | 2050-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Jacksonville FL                                                          | JACKSONVILLE FL HLTH CARE FACS REVENUE                       | CUSIP: 469400EL5<br>LEI: 549300XQE0JVN9WV0J40 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $958261.50    | 0.34%             | 2045-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Harris County Cultural Education Facilities Finance Corp                         | HARRIS CNTY TX CULTURAL EDU FACS FIN CORP REVENUE            | CUSIP: 414009KD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    590000 | PA      | $577955.33    | 0.20%             | 2045-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Sullivan TN                                                            | SULLIVAN CNTY TN                                             | CUSIP: 865287TQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $229693.66    | 0.08%             | 2045-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tennessee Housing Development Agency                                             | TENNESSEE HSG DEV AGY RSDL FIN PROGRAM REVENUE               | CUSIP: 880461C97<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    335000 | PA      | $311050.62    | 0.11%             | 2049-07-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| University of South Carolina                                                     | UNIV OF SOUTH CAROLINA SC HGREDU REVENUE                     | CUSIP: 913367FN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    820000 | PA      | $906275.40    | 0.32%             | 2046-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Hospital Equipment Loan Council                                       | NEW MEXICO ST HOSP EQUIPMENT LOAN COUNCIL HOSP REVENUE       | CUSIP: 647370JR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $243828.98    | 0.09%             | 2048-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| St Louis Park Independent School District No 283                                 | SAINT LOUIS PARK MN INDEP SCHDIST #283                       | CUSIP: 791757JH1<br>LEI: 549300LTLJF3QX58Q574 | Long             | DBT              | MUN               | US        |    500000 | PA      | $524768.60    | 0.18%             | 2043-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| West Harris County Regional Water Authority                                      | W HARRIS CNTY TX REGL WTR AUTH WTR SYS REVENUE               | CUSIP: 95308RRH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $182753.88    | 0.06%             | 2058-12-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| City of Austin TX Electric Utility Revenue                                       | AUSTIN TX ELEC UTILITY SYS REVENUE                           | CUSIP: 052414UE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $548604.10    | 0.19%             | 2045-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fairfax County Industrial Development Authority                                  | FAIRFAX CNTY VA INDL DEV AUTH REVENUE                        | CUSIP: 303823MW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $245768.03    | 0.09%             | 2048-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH SALES TAX REVENUE                      | CUSIP: 64990AGN9<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    380000 | PA      | $405632.25    | 0.14%             | 2040-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority Sales Tax Revenue                           | TRIBOROUGH NY BRIDGE & TUNNEL AUTH SALES TAX REVENUE         | CUSIP: 896035BF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    840000 | PA      | $840004.96    | 0.29%             | 2057-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                | ILLINOIS ST                                                  | CUSIP: 4521526M8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    750000 | PA      | $805750.95    | 0.28%             | 2045-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| City of Shreveport LA Water & Sewer Revenue                                      | SHREVEPORT LA WTR & SWR REVENUE                              | CUSIP: 825485XQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $663786.41    | 0.23%             | 2049-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Grand Parkway Transportation Corp                                                | GRAND PARKWAY TRANSPRTN CORP TX SYS TOLL REVENUE             | CUSIP: 38611TCC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    770000 | PA      | $752395.64    | 0.26%             | 2049-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Center District                                                        | WISCONSIN CENTER DIST WI TAX REVENUE                         | CUSIP: 976595GN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $86814.83     | 0.03%             | 2045-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                                 | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709225DY9<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $979119.60    | 0.34%             | 2046-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                             | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FVG6<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    690000 | PA      | $755600.72    | 0.27%             | 2047-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Board of Water Commissioners City & County of Denver/The                         | DENVER CITY & CNTY CO BRD OF WTR COMMISSIONERS WTR REVENUE   | CUSIP: 24916PGA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $232857.06    | 0.08%             | 2042-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Denton TX                                                                | DENTON TX                                                    | CUSIP: 248866V85<br>LEI: 549300UWEY8IKYK09T27 | Long             | DBT              | MUN               | US        |    120000 | PA      | $120817.49    | 0.04%             | 2047-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Mountain House Public Financing Authority                                        | MOUNTAIN HOUSE CA PUBLIC FING AUTH UTILITY SYS REVENUE       | CUSIP: 62412PCK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $509464.35    | 0.18%             | 2040-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE         | CUSIP: 64990FPW8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    820000 | PA      | $886131.11    | 0.31%             | 2048-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                 | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                    | CUSIP: 13032UFM5<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |    680000 | PA      | $565158.06    | 0.20%             | 2041-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| School District of Broward County/FL                                             | BROWARD CNTY FL SCH DIST                                     | CUSIP: 115067KV1<br>LEI: 5493006KVNQDJ1D0OD92 | Long             | DBT              | MUN               | US        |    665000 | PA      | $735951.18    | 0.26%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of New York Mortgage Agency                                                | NEW YORK ST MTGE AGY HOMEOWNER MTGE REVENUE                  | CUSIP: 64988YEQ6<br>LEI: 549300ZQWNLLIG564027 | Long             | DBT              | MUN               | US        |    330000 | PA      | $221454.12    | 0.08%             | 2050-04-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| County of Broward FL Port Facilities Revenue                                     | BROWARD CNTY FL PORT FACS REVENUE                            | CUSIP: 11506KEQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $523850.20    | 0.18%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Austin TX Electric Utility Revenue                                       | AUSTIN TX ELEC UTILITY SYS REVENUE                           | CUSIP: 052414SS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1485338.39   | 0.52%             | 2049-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                              | CALIFORNIA ST                                                | CUSIP: 13063DAY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    515000 | PA      | $555127.10    | 0.19%             | 2047-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power                                          | LOS ANGELES CA DEPT OF WTR & PWR REVENUE                     | CUSIP: 544532DK7<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    500000 | PA      | $557195.85    | 0.20%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of El Paso TX                                                               | EL PASO TX                                                   | CUSIP: 283734V73<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    950000 | PA      | $948770.89    | 0.33%             | 2045-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Norfolk Economic Development Authority                                           | NORFOLK VA ECON DEV AUTH HOSPFACS REVENUE                    | CUSIP: 65588TAT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250268.58    | 0.09%             | 2048-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                    | MASSACHUSETTS ST                                             | CUSIP: 57582RP26<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $794652.69    | 0.28%             | 2051-04-01      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| Fremont Union High School District                                               | FREMONT CA UNION HIGH SCH DIST SANTA CLARA CNTY              | CUSIP: 357172YL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $503103.60    | 0.18%             | 2046-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Turnpike Authority                                                    | NEW JERSEY ST TURNPIKE AUTH TURNPIKE REVENUE                 | CUSIP: 646140CT8<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |    210000 | PA      | $211035.20    | 0.07%             | 2043-01-01      | Fixed         | 4.00%                 | 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        |    800000 | PA      | $788279.44    | 0.28%             | 2047-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                                 | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709224B65<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    155000 | PA      | $164341.31    | 0.06%             | 2041-12-01      | 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: 64972GSQ8<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |    800000 | PA      | $880087.20    | 0.31%             | 2040-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power Water System Revenue                     | LOS ANGELES CA DEPT OF WTR & PWR WTRWKS REVENUE              | CUSIP: 544525Q43<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $845883.00    | 0.30%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                                  | NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE     | CUSIP: 64972GZL1<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |    955000 | PA      | $1065674.28   | 0.37%             | 2044-06-15      | 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: 64972GEX8<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |    500000 | PA      | $498604.85    | 0.17%             | 2045-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Delaware State Health Facilities Authority                                       | DELAWARE ST HLTH FACS AUTH REVENUE                           | CUSIP: 246388UK6<br>LEI: 549300RXU7M05ZYSJG42 | Long             | DBT              | MUN               | US        |    280000 | PA      | $278023.73    | 0.10%             | 2049-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Northwest Independent School District                                            | NORTHWEST TX INDEP SCH DIST                                  | CUSIP: 667826DC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010714.50   | 0.35%             | 2047-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                | ILLINOIS ST                                                  | CUSIP: 452153AW9<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1285929.50   | 0.45%             | 2046-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Diego County Regional Airport Authority                                      | SAN DIEGO CNTY CA REGL ARPT AUTH AIRPORT REVENUE             | CUSIP: 79739GLE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $804297.30    | 0.28%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue          | NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE               | CUSIP: 64971XU89<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $974762.60    | 0.34%             | 2051-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Bexar TX                                                               | BEXAR CNTY TX                                                | CUSIP: 088281B25<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $221457.96    | 0.08%             | 2041-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                              | NEW YORK NY                                                  | CUSIP: 64966QQG8<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    500000 | PA      | $549306.60    | 0.19%             | 2043-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arlington Higher Education Finance Corp                                          | ARLINGTON TX HGR EDU FIN CORP EDU REVENUE                    | CUSIP: 041806XA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $675740.54    | 0.24%             | 2044-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Oregon Health & Science University                                               | OREGON ST HLTH & SCIENCE UNIV REVENUE                        | CUSIP: 685869HF9<br>LEI: 549300XTWOAGON8L2G98 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003275.80   | 0.35%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue       | LOS ANGELES CNTY CA MET TRANSPRTN AUTH SALES TAX REVENUE     | CUSIP: 54466HHF6<br>LEI: 54930051IHTXE1N9RB42 | Long             | DBT              | MUN               | US        |    440000 | PA      | $482043.72    | 0.17%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oklahoma Turnpike Authority                                                      | OKLAHOMA ST TURNPIKE AUTH                                    | CUSIP: 679111ZM9<br>LEI: 549300J83EP2PBDYH615 | Long             | DBT              | MUN               | US        |    700000 | PA      | $691887.21    | 0.24%             | 2048-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Arlington Higher Education Finance Corp                                          | ARLINGTON TX HGR EDU FIN CORP EDU REVENUE                    | CUSIP: 041806Z94<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $816609.90    | 0.29%             | 2046-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                        | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE             | CUSIP: 57421CDC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $440664.15    | 0.15%             | 2051-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                             | DIST OF COLUMBIA                                             | CUSIP: 25476FXW3<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    500000 | PA      | $505174.80    | 0.18%             | 2044-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| University of California                                                         | UNIV OF CALIFORNIA CA REVENUES                               | CUSIP: 91412HHC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1035271.60   | 0.36%             | 2040-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| San Francisco Bay Area Rapid Transit District                                    | SAN FRANCISCO CA BAY AREA RAPID TRANSIT DIST                 | CUSIP: 797661YG4<br>LEI: 549300Y3C3QUMLE3FY58 | Long             | DBT              | MUN               | US        |    600000 | PA      | $491449.32    | 0.17%             | 2049-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts Transportation Fund Revenue                        | MASSACHUSETTS ST TRANSPRTN FUND REVENUE                      | CUSIP: 57604THG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    315000 | PA      | $339083.20    | 0.12%             | 2048-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                             | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FJE5<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    685000 | PA      | $671357.06    | 0.24%             | 2043-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Building Aid Revenue                | NEW YORK CITY NY TRANSITIONAL FIN AUTH BLDG AID REVENUE      | CUSIP: 64972HK50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $538381.60    | 0.19%             | 2043-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                              | CALIFORNIA ST                                                | CUSIP: 13063DKE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    935000 | PA      | $1019088.29   | 0.36%             | 2048-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cypress-Fairbanks Independent School District                                    | CYPRESS-FAIRBANKS TX INDEP SCH DIST                          | CUSIP: 232769HN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $447374.94    | 0.16%             | 2043-02-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Perris Union High School District/CA                                             | PERRIS CA UNION HIGH SCH DIST                                | CUSIP: 714398KD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    570000 | PA      | $575869.58    | 0.20%             | 2043-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| University of California                                                         | UNIV OF CALIFORNIA CA REVENUES                               | CUSIP: 91412HDE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1071799.10   | 0.38%             | 2058-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI HOSP REVENUE                              | CUSIP: 74442CAX2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500662.50    | 0.18%             | 2041-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Dutchess County Local Development Corp                                           | DUTCHESS CNTY NY LOCAL DEV CORP REVENUE                      | CUSIP: 267045GX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    255000 | PA      | $258191.78    | 0.09%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                              | CALIFORNIA ST                                                | CUSIP: 13063DFR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    645000 | PA      | $625163.09    | 0.22%             | 2047-10-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                                 | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709224WR6<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    700000 | PA      | $734835.92    | 0.26%             | 2047-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                              | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                  | CUSIP: 7087964A2<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |    265000 | PA      | $229152.71    | 0.08%             | 2041-10-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| County of New Castle DE                                                          | NEW CASTLE CNTY DE                                           | CUSIP: 64327TGA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $152784.00    | 0.05%             | 2047-04-01      | 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: 64971XFW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $281455.30    | 0.10%             | 2042-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Virginia                                                           | UNIV OF VIRGINIA VA UNIV REVENUES                            | CUSIP: 915217WE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $501947.35    | 0.18%             | 2045-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                             | CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE                 | CUSIP: 167593WR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    265000 | PA      | $274834.97    | 0.10%             | 2047-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Miami-Dade County Health Facilities Authority                                    | MIAMI-DADE CNTY FL HLTH FACS AUTH HOSP REVENUE               | CUSIP: 59334NFC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $484822.80    | 0.17%             | 2051-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Health Care Facilities Financing Authority                            | NEW JERSEY ST HLTH CARE FACS FING AUTH REVENUE               | CUSIP: 645790FR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     55000 | PA      | $57050.78     | 0.02%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois State Toll Highway Authority                                            | ILLINOIS ST TOLL HIGHWAY AUTH                                | CUSIP: 452252PQ6<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1089256.10   | 0.38%             | 2045-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas Water Development Board                                                    | TEXAS ST WTR DEV BRD                                         | CUSIP: 882854Q70<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $242381.18    | 0.09%             | 2049-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Halifax Hospital Medical Center                                                  | HALIFAX FL HOSP MED CTR                                      | CUSIP: 405815LJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $517267.43    | 0.18%             | 2046-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Utah UT                                                                | UTAH CNTY UT HOSP REVENUE                                    | CUSIP: 917393BX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $174808.81    | 0.06%             | 2047-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Mortgage Finance Authority                                            | NEW MEXICO ST MTGE FIN AUTH                                  | CUSIP: 647201FW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $168148.00    | 0.06%             | 2044-07-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| City of Chillicothe OH                                                           | CHILLICOTHE OH HOSP FACS REVENUE                             | CUSIP: 169203AJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    440000 | PA      | $401204.85    | 0.14%             | 2042-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Building Aid Revenue                | NEW YORK CITY NY TRANSITIONAL FIN AUTH BLDG AID REVENUE      | CUSIP: 64972H3S9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $281341.94    | 0.10%             | 2049-07-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| San Mateo Foster City Public Financing Authority                                 | SAN MATEO FOSTER CITY CA PUBLIC FING AUTH WSTWTR REVENUE     | CUSIP: 79905VAW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $502230.60    | 0.18%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE         | CUSIP: 64990FUC6<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    730000 | PA      | $752043.01    | 0.26%             | 2044-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                             | TRIBOROUGH NY BRIDGE & TUNNEL AUTH PAYROLL MOBILITY TAX      | CUSIP: 89602HEM5<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |    500000 | PA      | $521457.10    | 0.18%             | 2047-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| San Diego Unified School District/CA                                             | SAN DIEGO CA UNIF SCH DIST                                   | CUSIP: 7973555X8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    595000 | PA      | $596598.47    | 0.21%             | 2047-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Hayward Area Recreation & Park District                                          | HAYWARD CA AREA RECREATION & PARK DIST                       | CUSIP: 421207BJ9<br>LEI: 549300GKD6SMHLGX1769 | Long             | DBT              | MUN               | US        |    185000 | PA      | $186148.33    | 0.07%             | 2046-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power                                          | LOS ANGELES CA DEPT OF WTR & PWR REVENUE                     | CUSIP: 544532CN2<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1112524.90   | 0.39%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Lubbock TX Electric Light & Power System Revenue                         | LUBBOCK TX ELEC LIGHT & PWR SYS                              | CUSIP: 549203XM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $634901.35    | 0.22%             | 2046-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Village of Mount Pleasant WI                                                     | MOUNT PLEASANT WI TAX INCR REVENUE                           | CUSIP: 622823AS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $262046.33    | 0.09%             | 2048-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Gainesville & Hall County Hospital Authority                                     | GAINESVILLE & HALL CNTY GA HOSP AUTH                         | CUSIP: 362762PS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    630000 | PA      | $607709.97    | 0.21%             | 2045-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fort Pierce Utilities Authority                                                  | FORT PIERCE FL UTILITIES AUTH                                | CUSIP: 348430PV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $986215.90    | 0.35%             | 2052-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                            | MET TRANSPRTN AUTH NY REVENUE                                | CUSIP: 59261ATK3<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    250000 | PA      | $227040.93    | 0.08%             | 2046-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                                      | VIRGINIA ST SMALL BUSINESS FING AUTH REVENUE                 | CUSIP: 928104NB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $462175.20    | 0.16%             | 2045-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DuBois Hospital Authority                                                        | DUBOIS PA HOSP AUTH                                          | CUSIP: 263804BM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $289999.05    | 0.10%             | 2043-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                 | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                    | CUSIP: 13032UPW2<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |    230000 | PA      | $230626.11    | 0.08%             | 2047-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Las Vegas Convention & Visitors Authority                                        | LAS VEGAS NV CONVENTION & VISITORS AUTH CONVENTION CTR EXPAN | CUSIP: 51771FAT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $289852.89    | 0.10%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hudson Yards Infrastructure Corp                                                 | HUDSON YARDS INFRASTRUCTURE CORP NY 2ND INDENTURE REVENUE    | CUSIP: 44420RBE9<br>LEI: 549300EE2HJ67TPURL87 | Long             | DBT              | MUN               | US        |    645000 | PA      | $689780.87    | 0.24%             | 2042-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corp                                                | TOBACCO SETTLEMENT FING CORP NJ                              | CUSIP: 888808HQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    205000 | PA      | $211659.67    | 0.07%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                       | MICHIGAN ST FIN AUTH REVENUE                                 | CUSIP: 59447TQU0<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    500000 | PA      | $519863.35    | 0.18%             | 2042-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corp                                                | TOBACCO SETTLEMENT FING CORP NJ                              | CUSIP: 888808HT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $505082.60    | 0.18%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Jose Evergreen Community College District                                    | SAN JOSE CA EVERGREEN CMNTY CLG DIST                         | CUSIP: 798189QZ2<br>LEI: 5493006H31JIFYW6Z091 | Long             | DBT              | MUN               | US        |    825000 | PA      | $724301.74    | 0.25%             | 2041-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Colorado High Performance Transportation Enterprise                              | CO HIGH PERFORMANCE TRANSPRTN ENTERPRISE REVENUE             | CUSIP: 19648DAD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $246770.13    | 0.09%             | 2056-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hampton Roads Transportation Accountability Commission                           | HAMPTON ROADS VA TRANSPRTN ACCOUNTABILITY COMMISSION         | CUSIP: 409328AS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $690971.63    | 0.24%             | 2050-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                              | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                  | CUSIP: 7087963C9<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |    140000 | PA      | $123201.05    | 0.04%             | 2040-04-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Wyoming Community Development Authority                                          | WYOMING ST CMNTY DEV AUTH HSG REVENUE                        | CUSIP: 98322QE52<br>LEI: 549300UQ62NB8FGTHW65 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011880.50   | 0.35%             | 2043-12-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL                                                               | CHICAGO IL                                                   | CUSIP: 167486P86<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    750000 | PA      | $795442.13    | 0.28%             | 2043-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                    | MASSACHUSETTS ST                                             | CUSIP: 57582RRK4<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |    200000 | PA      | $215110.86    | 0.08%             | 2044-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade FL Water & Sewer System Revenue                             | MIAMI-DADE CNTY FL WTR & SWR REVENUE                         | CUSIP: 59334DLW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    310000 | PA      | $244958.96    | 0.09%             | 2049-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                                 | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709224ZD4<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    900000 | PA      | $949404.24    | 0.33%             | 2047-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Broward Hospital District                                                  | SOUTH BROWARD FL HOSP DIST                                   | CUSIP: 836753NJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $613179.60    | 0.22%             | 2046-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue          | NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE               | CUSIP: 64971XKP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1120000 | PA      | $1120917.39   | 0.39%             | 2042-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                             | CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE                 | CUSIP: 167593WS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $155648.28    | 0.05%             | 2052-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Leander Independent School District                                              | LEANDER TX INDEP SCH DIST                                    | CUSIP: 521841C20<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $38642.04     | 0.01%             | 2044-08-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | ILLINOIS ST FIN AUTH REVENUE                                 | CUSIP: 45204E6H6<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500779.05    | 0.18%             | 2041-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                        | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE             | CUSIP: 5742184J9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $147224.33    | 0.05%             | 2048-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Bond Development Corp                                                   | KENTUCKY BOND DEV CORP                                       | CUSIP: 491209AW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1225000 | PA      | $1216471.92   | 0.43%             | 2048-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Baltimore MD                                                             | BALTIMORE MD PROJ REVENUE                                    | CUSIP: 05922KB81<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $223062.71    | 0.08%             | 2049-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Washington State Convention Center Public Facilities District                    | WASHINGTON ST CONVENTION CENTER PUBLIC FACS DIST             | CUSIP: 93976ABH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $105447.04    | 0.04%             | 2058-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                            | MET TRANSPRTN AUTH NY DEDICATED TAX FUND                     | CUSIP: 59259N3M3<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    500000 | PA      | $523317.10    | 0.18%             | 2051-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH REVENUESNON ST SUPPORTED DEBT          | CUSIP: 64990C6P1<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    700000 | PA      | $833297.43    | 0.29%             | 2048-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue          | NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE               | CUSIP: 64971XUC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    775000 | PA      | $782851.37    | 0.27%             | 2040-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Environmental Facilities Corp                                     | NEW YORK ST ENVRNMNTL FACS CORP ST CLEAN WTR & DRINKING WTR  | CUSIP: 64986DMK8<br>LEI: 549300QJ33JJW73OQO60 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1121169.30   | 0.39%             | 2051-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finance Corp                        | TARRANT CNTY TX CULTURAL EDU FACS FIN CORP REVENUE           | CUSIP: 87638TGP2<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |    250000 | PA      | $260853.95    | 0.09%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                              | CALIFORNIA ST                                                | CUSIP: 13063DZZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $352643.64    | 0.12%             | 2043-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                                 | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709224P52<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    220000 | PA      | $234509.97    | 0.08%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade FL Water & Sewer System Revenue                             | MIAMI-DADE CNTY FL WTR & SWR REVENUE                         | CUSIP: 59334DJS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $207768.81    | 0.07%             | 2047-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Texas Water Development Board                                                    | TEXAS ST WTR DEV BRD                                         | CUSIP: 882854Q54<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005353.20   | 0.35%             | 2043-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Texas Water Development Board                                                    | TEXAS ST WTR DEV BRD                                         | CUSIP: 882854Z70<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    990000 | PA      | $986210.18    | 0.35%             | 2049-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                              | WISCONSIN ST HLTH & EDUCTNL FACS AUTH REVENUE                | CUSIP: 97712DE77<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    500000 | PA      | $497211.35    | 0.17%             | 2047-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia PA Water & Wastewater Revenue                               | PHILADELPHIA PA WTR & WSTWTR REVENUE                         | CUSIP: 717893D24<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $524282.45    | 0.18%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Georgia State Road & Tollway Authority                                           | GEORGIA ST ROAD & TOLLWAY AUTH REVENUE                       | CUSIP: 37358MFH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $405230.30    | 0.14%             | 2051-07-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                             | CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE                 | CUSIP: 167593B27<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $157948.19    | 0.06%             | 2041-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indianapolis Local Public Improvement Bond Bank                                  | INDIANAPOLIS IN LOCAL PUBLIC IMPT BOND BANK                  | CUSIP: 45528UZJ3<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |    500000 | PA      | $534861.60    | 0.19%             | 2049-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Charlotte-Mecklenburg Hospital Authority/The                                     | CHARLOTTE-MECKLENBURG NC HOSP AUTH HLTH CARE SYS REVENUE     | CUSIP: 160853VS3<br>LEI: 549300XOH4JU704GMZ32 | Long             | DBT              | MUN               | US        |    600000 | PA      | $604329.66    | 0.21%             | 2043-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI HLTHCARE FACS REVENUE                     | CUSIP: 74444KBK9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    250000 | PA      | $189246.88    | 0.07%             | 2050-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Palm Beach County Health Facilities Authority                                    | PALM BEACH CNTY FL HLTH FACS AUTH REVENUE                    | CUSIP: 696507US9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | PA      | $228581.40    | 0.08%             | 2053-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | CUSIP: 65000BAS7<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    550000 | PA      | $544960.52    | 0.19%             | 2048-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Health & Educational Facilities Authority of the State of Missouri               | MISSOURI ST HLTH & EDUCTNL FACS AUTH EDUCTNL FACS REVENUE    | CUSIP: 60636ASS3<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |    100000 | PA      | $108719.10    | 0.04%             | 2046-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Long Island Power Authority                                                      | LONG ISLAND NY PWR AUTH ELEC SYS REVENUE                     | CUSIP: 542691AU4<br>LEI: 1R46U5SYJ63KQXF39168 | Long             | DBT              | MUN               | US        |    300000 | PA      | $315176.04    | 0.11%             | 2047-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                            | MET TRANSPRTN AUTH NY REVENUE                                | CUSIP: 59261AZV2<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $988081.20    | 0.35%             | 2045-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Colorado Educational & Cultural Facilities Authority                             | COLORADO ST EDUCTNL & CULTURAL FACS AUTH REVENUE             | CUSIP: 19645R6B2<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |    155000 | PA      | $165059.08    | 0.06%             | 2040-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MTA Hudson Rail Yards Trust Obligations                                          | MTA HUDSON RAIL YARDS TRUST OBLIGS REVENUE                   | CUSIP: 62476RAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $991967.20    | 0.35%             | 2056-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Environmental Facilities Corp                                     | NEW YORK ST ENVRNMNTL FACS CORP ST CLEAN WTR & DRINKING WTR  | CUSIP: 64986DJS5<br>LEI: 549300QJ33JJW73OQO60 | Long             | DBT              | MUN               | US        |    500000 | PA      | $502967.55    | 0.18%             | 2049-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                    | MASSACHUSETTS ST                                             | CUSIP: 57582RD52<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |    750000 | PA      | $830170.65    | 0.29%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                              | CALIFORNIA ST                                                | CUSIP: 13063DE53<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    630000 | PA      | $725326.94    | 0.25%             | 2041-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Norman Y Mineta San Jose International Airport SJC                               | SAN JOSE CA ARPT REVENUE                                     | CUSIP: 798136WR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $527220.65    | 0.18%             | 2042-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Housing Finance Agency                                            | NEW YORK ST HSG FIN AGY                                      | CUSIP: 64987DEE0<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |    195000 | PA      | $175017.69    | 0.06%             | 2047-11-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Iowa Finance Authority                                                           | IOWA ST FIN AUTH MIDWSTRN DISASTER AREA REVENUE              | CUSIP: 46246SAV7<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |    500000 | PA      | $511272.90    | 0.18%             | 2050-12-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Grand Parkway Transportation Corp                                                | GRAND PARKWAY TRANSPRTN CORP TX SYS TOLL REVENUE             | CUSIP: 38611TBR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    640000 | PA      | $680052.35    | 0.24%             | 2048-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Jersey Transportation Authority                                            | S JERSEY NJ TRANSPRTN AUTH TRANSPRTN SYS REVENUE             | CUSIP: 838536LM0<br>LEI: 549300W8SZI2CAOKT956 | Long             | DBT              | MUN               | US        |    500000 | PA      | $524879.80    | 0.18%             | 2045-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp                              | NEW HOPE CULTURAL EDU FACS FIN CORP TX HOSP REVENUE          | CUSIP: 645424AU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    555000 | PA      | $557811.69    | 0.20%             | 2040-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                             | CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE                 | CUSIP: 167593XW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $259413.80    | 0.09%             | 2052-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia PA Water & Wastewater Revenue                               | PHILADELPHIA PA WTR & WSTWTR REVENUE                         | CUSIP: 717893C90<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $526797.90    | 0.18%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Suffolk Tobacco Asset Securitization Corp                                        | SUFFOLK NY TOBACCO ASSET SECURITIZATION CORP TOBACCO SETTLEM | CUSIP: 864809CC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $991736.10    | 0.35%             | 2050-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                           | NORTH CAROLINA ST MED CARE COMMISSION HLTH CARE FACS REVENUE | CUSIP: 65821DWL1<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    220000 | PA      | $177769.50    | 0.06%             | 2049-11-01      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| State of California                                                              | CALIFORNIA ST                                                | CUSIP: 13063DA32<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $984045.13    | 0.35%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dahlonega Downtown Development Authority                                         | DAHLONEGA GA DOWNTOWN DEV AUTH REVENUE                       | CUSIP: 23378RFR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     90000 | PA      | $75757.50     | 0.03%             | 2040-07-01      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| Central Texas Regional Mobility Authority                                        | CENTRL TX REGL MOBILITY AUTH REVENUE                         | CUSIP: 155498KP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $809035.35    | 0.28%             | 2045-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue          | NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE               | CUSIP: 64971XCW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $400258.08    | 0.14%             | 2042-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Phoenix Civic Improvement Corp                                           | PHOENIX AZ CIVIC IMPT CORP EXCISE TAX REVENUE                | CUSIP: 71884AE54<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $326883.60    | 0.11%             | 2045-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                           | CALIFORNIA ST MUNI FIN AUTH REVENUE                          | CUSIP: 13048T4Q3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    160000 | PA      | $144998.42    | 0.05%             | 2047-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Urban Development Corp                                            | NEW YORK ST URBAN DEV CORP REVENUE                           | CUSIP: 650036CJ3<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |    550000 | PA      | $440542.69    | 0.15%             | 2048-03-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| San Diego Association of Governments South Bay Expressway Revenue                | SAN DIEGO ASSN OF GOVTS CA SOUTH BAY EXPRESSWAY TOLL REVENUE | CUSIP: 797257AX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    610000 | PA      | $653440.97    | 0.23%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Utah UT                                                                | UTAH CNTY UT HOSP REVENUE                                    | CUSIP: 917393BN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $350348.95    | 0.12%             | 2047-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Fort Bend Water Authority                                                  | N FORT BEND TX WTR AUTH WTR SYS REVENUE                      | CUSIP: 65944RKU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250690.70    | 0.09%             | 2040-12-15      | 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: 64971XWQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $490267.65    | 0.17%             | 2047-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts School Building Authority                                          | MASSACHUSETTS ST SCH BLDG AUTH SALES TAX REVENUE             | CUSIP: 576000YY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $826131.15    | 0.29%             | 2050-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan State Housing Development Authority                                     | MICHIGAN ST HSG DEV AUTH RENTAL HSG REVENUE                  | CUSIP: 59465MQ57<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |    725000 | PA      | $727543.01    | 0.26%             | 2040-10-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| City & County of Honolulu HI                                                     | HONOLULU CITY & CNTY HI                                      | CUSIP: 438687JN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $759275.33    | 0.27%             | 2043-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Jacksonville FL                                                          | JACKSONVILLE FL HLTH CARE FACS REVENUE                       | CUSIP: 469400EM3<br>LEI: 549300XQE0JVN9WV0J40 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1030619.20   | 0.36%             | 2050-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                            | MET TRANSPRTN AUTH NY REVENUE                                | CUSIP: 59261AXS1<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    715000 | PA      | $759150.68    | 0.27%             | 2044-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of San Francisco CA Public Utilities Commission Water Revenue               | SAN FRANCISCO CITY & CNTY CA PUBLIC UTILITIES COMMISSION WTR | CUSIP: 79765R5Q8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $395163.05    | 0.14%             | 2050-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| City of Rogers AR Sales & Use Tax Revenue                                        | ROGERS AR SALES & USE TAX REVENUE                            | CUSIP: 775080GH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $24961.08     | 0.01%             | 2043-11-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                | ILLINOIS ST                                                  | CUSIP: 452153AU3<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    500000 | PA      | $478465.90    | 0.17%             | 2040-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tennessee State School Bond Authority                                            | TENNESSEE ST SCH BOND AUTH                                   | CUSIP: 880558JT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1040000 | PA      | $1122544.38   | 0.39%             | 2042-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tomball Independent School District                                              | TOMBALL TX INDEP SCH DIST                                    | CUSIP: 889855M82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011077.70   | 0.35%             | 2045-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| King County Public Hospital District No 2                                        | KING CNTY WA PUBLIC HOSP DIST #2                             | CUSIP: 494791SH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $647280.60    | 0.23%             | 2045-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| West Virginia Parkways Authority                                                 | WEST VIRGINIA ST PARKWAYS AUTH TURNPIKE TOLL REVENUE         | CUSIP: 956510BY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    620000 | PA      | $680284.27    | 0.24%             | 2047-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Phoenix Civic Improvement Corp                                           | PHOENIX AZ CIVIC IMPT CORP ARPT REVENUE                      | CUSIP: 71883MMX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $215539.50    | 0.08%             | 2040-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Texas Tollway Authority                                                    | N TX TOLLWAY AUTH REVENUE                                    | CUSIP: 66285WYA8<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $996929.10    | 0.35%             | 2049-01-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Central Plains Energy Project                                                    | CENTRL PLAINS ENERGY PROJ NE GAS PROJ REVENUE                | CUSIP: 154871CP0<br>LEI: SVQOT7V5CPLIGNP5BE29 | Long             | DBT              | MUN               | US        |    500000 | PA      | $526000.35    | 0.18%             | 2042-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Georgia Housing & Finance Authority                                              | GEORGIA ST HSG & FIN AUTH REVENUE                            | CUSIP: 3735394U6<br>LEI: 549300I628IMF9PWV724 | Long             | DBT              | MUN               | US        |    215000 | PA      | $195098.46    | 0.07%             | 2041-12-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                      | CUSIP: 646136U66<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    640000 | PA      | $640392.32    | 0.22%             | 2044-06-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| New York State Thruway Authority                                                 | NEW YORK ST THRUWAY AUTH GEN REVENUE JUNIOR INDEBTEDNESS OBL | CUSIP: 650010AY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1044786.00   | 0.37%             | 2041-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                              | NEW YORK NY                                                  | CUSIP: 64966QFS4<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    250000 | PA      | $272983.40    | 0.10%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Thruway Authority                                                 | NEW YORK ST THRUWAY AUTH GEN REVENUE JUNIOR INDEBTEDNESS OBL | CUSIP: 650010CC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $508576.15    | 0.18%             | 2040-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Housing Finance Authority                                            | CONNECTICUT ST HSG FIN AUTH HSG MTGE FIN PROGRAM             | CUSIP: 20775CAU8<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |      5000 | PA      | $4994.70      | 0.00%             | 2045-11-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| New York State Urban Development Corp                                            | NEW YORK ST URBAN DEV CORP REVENUE                           | CUSIP: 6500358C5<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |    500000 | PA      | $541295.05    | 0.19%             | 2043-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development Bank                            | CALIFORNIA ST INFRASTRUCTURE & ECON DEV BANK REVENUE         | CUSIP: 13034ATX8<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |    500000 | PA      | $536483.15    | 0.19%             | 2047-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                      | CUSIP: 646136Y54<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1018521.00   | 0.36%             | 2045-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Arlington TX Special Tax Revenue                                         | ARLINGTON TX SPL TAX REVENUE                                 | CUSIP: 04184RBS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    165000 | PA      | $163997.03    | 0.06%             | 2044-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Private Colleges & Universities Authority                                        | PRIV CLGS & UNIVS AUTH GA                                    | CUSIP: 74265LU22<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    855000 | PA      | $873709.54    | 0.31%             | 2041-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Seattle WA Municipal Light & Power Revenue                               | SEATTLE WA MUNI LIGHT & PWR REVENUE                          | CUSIP: 812643RZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $450176.13    | 0.16%             | 2046-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                             | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FPQ1<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    500000 | PA      | $520270.10    | 0.18%             | 2044-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado High Performance Transportation Enterprise                              | CO HIGH PERFORMANCE TRANSPRTN ENTERPRISE REVENUE             | CUSIP: 19648DAC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $247723.43    | 0.09%             | 2051-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission Oil Franchise Tax Revenue                       | PENNSYLVANIA ST TURNPIKE COMMISSION OIL FRANCHISE TAX REVENU | CUSIP: 709221VF9<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    290000 | PA      | $308375.88    | 0.11%             | 2048-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City Of South Miami Health Facilities Authority Inc                              | S MIAMI FL HLTH FACS AUTH                                    | CUSIP: 838810ED7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    255000 | PA      | $263936.45    | 0.09%             | 2042-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Thruway Authority                                                 | NEW YORK ST THRUWAY AUTH PERSONAL INCOME TAX REVENUE         | CUSIP: 650028ZS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $740625.68    | 0.26%             | 2057-03-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE         | CUSIP: 64990FLA0<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    285000 | PA      | $309278.24    | 0.11%             | 2043-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                         | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57584YJW0<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $509245.20    | 0.18%             | 2053-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts Transportation Fund Revenue                        | MASSACHUSETTS ST TRANSPRTN FUND REVENUE                      | CUSIP: 57604TJK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    560000 | PA      | $623693.28    | 0.22%             | 2043-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                           | CALIFORNIA STWD CMNTYS DEV AUTH REVENUE                      | CUSIP: 13080SWJ9<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    330000 | PA      | $339248.65    | 0.12%             | 2048-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                             | CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE                 | CUSIP: 167593M74<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    890000 | PA      | $882401.54    | 0.31%             | 2053-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | CUSIP: 64990GTN2<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    250000 | PA      | $269979.50    | 0.09%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission Oil Franchise Tax Revenue                       | PENNSYLVANIA ST TURNPIKE COMMISSION OIL FRANCHISE TAX REVENU | CUSIP: 709221WV3<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    550000 | PA      | $526530.29    | 0.18%             | 2053-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Turnpike Authority                                                    | NEW JERSEY ST TURNPIKE AUTH TURNPIKE REVENUE                 | CUSIP: 6461397M1<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |    100000 | PA      | $106590.29    | 0.04%             | 2040-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Orleans Aviation Board                                                       | NEW ORLEANS LA AVIATION BRD                                  | CUSIP: 64763HGN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $250926.07    | 0.09%             | 2048-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Monroe County Industrial Development Corp/NY                                     | MONROE CNTY NY INDL DEV CORP REVENUE                         | CUSIP: 61075TWQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $605556.06    | 0.21%             | 2046-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                        | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE             | CUSIP: 5742182R3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $253435.29    | 0.09%             | 2047-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York Convention Center Development Corp                                      | NEW YORK ST CONVENTION CENTER DEV CORP REVENUE               | CUSIP: 649451EH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $71567.70     | 0.03%             | 2047-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Saugus Union School District School Facilities Improvement District No 2014-1    | SAUGUS CA UNION SCH DIST SCH FACS IMPT DIST #2014-1          | CUSIP: 804237CH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $735838.60    | 0.26%             | 2044-08-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| County of Washoe NV Gas Tax Revenue                                              | WASHOE CNTY NV HIGHWAY REVENUE                               | CUSIP: 940839DD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $272468.38    | 0.10%             | 2042-02-01      | 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: 79766DLJ6<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |    995000 | PA      | $1059153.22   | 0.37%             | 2048-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Utah UT                                                                | UTAH CNTY UT HOSP REVENUE                                    | CUSIP: 917393DD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $270110.30    | 0.09%             | 2050-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Cuyahoga OH                                                            | CUYAHOGA CNTY OH HOSP REVENUE                                | CUSIP: 2322655W4<br>LEI: 549300GHDK9DGLUNJU89 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $972989.10    | 0.34%             | 2057-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                 | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                    | CUSIP: 13032UXE3<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $958910.40    | 0.34%             | 2045-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of San Antonio TX Electric & Gas Systems Revenue                            | SAN ANTONIO TX ELEC & GAS REVENUE                            | CUSIP: 79625GEX7<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |    500000 | PA      | $554192.90    | 0.19%             | 2044-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Boulder Valley School District No Re-2 Boulder                                   | BOULDER VLY CO SCH DIST #RE-2 BOULDER                        | CUSIP: 101547UX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $521926.90    | 0.18%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                             | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FKU7<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    500000 | PA      | $379935.75    | 0.13%             | 2049-08-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                                 | MINNESOTA ST HSG FIN AGY                                     | CUSIP: 60416TCR7<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    445000 | PA      | $438780.99    | 0.15%             | 2051-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| City of Phoenix Civic Improvement Corp                                           | PHOENIX AZ CIVIC IMPT CORP ARPT REVENUE                      | CUSIP: 71883MPB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1073400.60   | 0.38%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Lakeland FL                                                              | LAKELAND FL HOSP SYS REVENUE                                 | CUSIP: 511665JN2<br>LEI: XRPK4ZALF4437WO3JQ94 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1016171.10   | 0.36%             | 2045-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Spartanburg County School District No 4/SC                                       | SPARTANBURG CNTY SC SCH DIST #4                              | CUSIP: 847031CZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1131677.50   | 0.40%             | 2052-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                        | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE             | CUSIP: 57421CCU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $394221.80    | 0.14%             | 2046-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Alvin Independent School District/TX                                             | ALVIN TX INDEP SCH DIST                                      | CUSIP: 022447P59<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $335731.10    | 0.12%             | 2040-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Great Lakes Water Authority Water Supply System Revenue                          | GREAT LAKES MI WTR AUTH WTR SPLY SYS REVENUE                 | CUSIP: 39081JAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    390000 | PA      | $405747.69    | 0.14%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH SALES TAX REVENUE                      | CUSIP: 64990AGS8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    150000 | PA      | $158909.21    | 0.06%             | 2044-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                            | MET TRANSPRTN AUTH NY REVENUE                                | CUSIP: 59259Y3Q0<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    590000 | PA      | $593319.46    | 0.21%             | 2045-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                             | TRIBOROUGH NY BRIDGE & TUNNEL AUTH PAYROLL MOBILITY TAX      | CUSIP: 89602HAU1<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |    980000 | PA      | $1044030.75   | 0.37%             | 2056-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116EX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    925000 | PA      | $875850.22    | 0.31%             | 2042-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority Dulles Toll Road Revenue              | MET WASHINGTON DC ARPTS AUTH DULLES TOLL ROAD REVENUE        | CUSIP: 592643DR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $974449.80    | 0.34%             | 2052-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California State Public Works Board                                              | CALIFORNIA ST PUBLIC WKS BRD LEASE REVENUE                   | CUSIP: 13068XFH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $497689.50    | 0.17%             | 2046-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                    | MASSACHUSETTS ST                                             | CUSIP: 57582RMV5<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |    275000 | PA      | $293874.71    | 0.10%             | 2042-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City & County of Honolulu HI                                                     | HONOLULU CITY & CNTY HI                                      | CUSIP: 438687JM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $220916.48    | 0.08%             | 2042-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Francisco Municipal Transportation Agency                                    | SAN FRANCISCO CA MUNI TRANSPRTN AGY REVENUE                  | CUSIP: 797686EH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $148754.06    | 0.05%             | 2046-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Turnpike Authority                                                | NORTH CAROLINA ST TURNPIKE AUTH                              | CUSIP: 65830RCP2<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |    500000 | PA      | $525599.35    | 0.18%             | 2044-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chaffey Joint Union High School District                                         | CHAFFEY CA JT UNION HIGH SCH DIST                            | CUSIP: 157411RJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $533799.90    | 0.19%             | 2047-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York Convention Center Development Corp                                      | NEW YORK ST CONVENTION CENTER DEV CORP REVENUE               | CUSIP: 649451EQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    170000 | PA      | $36839.51     | 0.01%             | 2054-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| San Francisco Bay Area Rapid Transit District                                    | SAN FRANCISCO CA BAY AREA RAPID TRANSIT DIST                 | CUSIP: 797661ZV0<br>LEI: 549300Y3C3QUMLE3FY58 | Long             | DBT              | MUN               | US        |    610000 | PA      | $617008.41    | 0.22%             | 2045-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                             | DIST OF COLUMBIA INCOME TAX SECURED REVENUE                  | CUSIP: 25477GTF2<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    805000 | PA      | $811582.73    | 0.28%             | 2045-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Santa Monica Community College District                                          | SANTA MONICA CA CMNTY CLG DIST                               | CUSIP: 802385QT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $274322.30    | 0.10%             | 2043-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland State Transportation Authority                                          | MARYLAND ST TRANSPRTN AUTH TRANSPRTN FACS PROJ REVENUE       | CUSIP: 574300NZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1105919.50   | 0.39%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power                                          | LOS ANGELES CA DEPT WTR & PWR REVENUE                        | CUSIP: 5444953Q5<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    275000 | PA      | $296932.65    | 0.10%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tri-County Metropolitan Transportation District of Oregon                        | TRI-CNTY OR MET TRANSPRTN DIST                               | CUSIP: 89546RRU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    935000 | PA      | $809688.68    | 0.28%             | 2044-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| County of Clark NV                                                               | CLARK CNTY NV                                                | CUSIP: 180848XJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    485000 | PA      | $516724.38    | 0.18%             | 2048-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hampton Roads Transportation Accountability Commission                           | HAMPTON ROADS VA TRANSPRTN ACCOUNTABILITY COMMISSION         | CUSIP: 409328AX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $549296.70    | 0.19%             | 2060-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                              | CALIFORNIA ST                                                | CUSIP: 13063DKS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1095636.90   | 0.38%             | 2049-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Geisinger Authority                                                              | GEISINGER PA AUTH HLTH SYS REVENUE                           | CUSIP: 368497JU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1035339.40   | 0.36%             | 2050-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Municipal Bond Bank                                                | NEW HAMPSHIRE ST MUNI BOND BANK                              | CUSIP: 64465P3C0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    265000 | PA      | $268644.76    | 0.09%             | 2042-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Washington Metropolitan Area Transit Authority Dedicated Revenue                 | WASHINGTON DC MET AREA TRANSIT AUTH DEDICATED REVENUE        | CUSIP: 93878YBR9<br>LEI: 549300ADKOK76HQMJS30 | Long             | DBT              | MUN               | US        |    750000 | PA      | $644258.03    | 0.23%             | 2043-07-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Gwinnett County School District                                                  | GWINNETT CNTY GA SCH DIST                                    | CUSIP: 403755V81<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    335000 | PA      | $372557.69    | 0.13%             | 2040-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Fulton GA Water & Sewerage Revenue                                     | FULTON CNTY GA WTR & SWR REVENUE                             | CUSIP: 360066PQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $358927.35    | 0.13%             | 2043-01-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Iowa Finance Authority                                                           | IOWA ST FIN AUTH REVENUE                                     | CUSIP: 46246K7X4<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |    530000 | PA      | $582275.01    | 0.20%             | 2049-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Port St Lucie FL                                                         | PORT SAINT LUCIE FL SPL ASSMNT REVENUE                       | CUSIP: 73535ELC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $174389.48    | 0.06%             | 2045-07-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Turnpike Authority                                                    | NEW JERSEY ST TURNPIKE AUTH TURNPIKE REVENUE                 | CUSIP: 6461395W1<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |    955000 | PA      | $982539.62    | 0.34%             | 2045-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hampton Roads Transportation Accountability Commission                           | HAMPTON ROADS VA TRANSPRTN ACCOUNTABILITY COMMISSION         | CUSIP: 409328AP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    665000 | PA      | $682946.22    | 0.24%             | 2040-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Broward FL Tourist Development Tax Revenue                             | BROWARD CNTY FL TOURIST DEV TAX REVENUE                      | CUSIP: 115085AX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    510000 | PA      | $489089.08    | 0.17%             | 2051-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chester County Health and Education Facilities Authority                         | CHESTER CNTY PA HLTH & EDU FACS AUTH HLTH SYS REVENUE        | CUSIP: 16557HFM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    645000 | PA      | $617101.62    | 0.22%             | 2050-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of New Orleans LA                                                           | NEW ORLEANS LA                                               | CUSIP: 64763FZD4<br>LEI: 54930084B6KHR5PR2651 | Long             | DBT              | MUN               | US        |    450000 | PA      | $481926.06    | 0.17%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                       | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 544445SD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $753832.88    | 0.26%             | 2048-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                            | MET TRANSPRTN AUTH NY DEDICATED TAX FUND                     | CUSIP: 59259N8N6<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    350000 | PA      | $374708.53    | 0.13%             | 2042-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greater Orlando Aviation Authority                                               | GTR ORLANDO FL AVIATION AUTH ARPT FACS REVENUE               | CUSIP: 392274U53<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |    125000 | PA      | $131590.86    | 0.05%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                             | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FGQ1<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    320000 | PA      | $307139.36    | 0.11%             | 2048-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Hudson County Improvement Authority                                              | HUDSON CNTY NJ IMPT AUTH LEASE REVENUE                       | CUSIP: 443730QB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $991980.30    | 0.35%             | 2046-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Omaha Public Power District                                                      | OMAHA NE PUBLIC PWR DIST ELEC REVENUE                        | CUSIP: 682001HA3<br>LEI: 54930000VJEJ9CGIYG32 | Long             | DBT              | MUN               | US        |    750000 | PA      | $725748.38    | 0.25%             | 2051-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Harris County Flood Control District                                             | HARRIS CNTY TX FLOOD CONTROL DIST                            | CUSIP: 4140188D6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $504093.75    | 0.18%             | 2045-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of West Virginia                                                           | WEST VIRGINIA ST                                             | CUSIP: 956553C74<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $109127.54    | 0.04%             | 2040-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                             | DIST OF COLUMBIA INCOME TAX SECURED REVENUE                  | CUSIP: 25477GPP4<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    750000 | PA      | $822509.18    | 0.29%             | 2044-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH SALES TAX REVENUE                      | CUSIP: 64990AGT6<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    250000 | PA      | $247139.43    | 0.09%             | 2045-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                      | CUSIP: 6461367M7<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    250000 | PA      | $262961.88    | 0.09%             | 2050-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan State Housing Development Authority                                     | MICHIGAN ST HSG DEV AUTH RENTAL HSG REVENUE                  | CUSIP: 59465M6M2<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |    500000 | PA      | $404305.00    | 0.14%             | 2049-10-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power Water System Revenue                     | LOS ANGELES CA DEPT OF WTR & PWR WTRWKS REVENUE              | CUSIP: 544525WJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $534363.05    | 0.19%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Economic Development Finance Authority                                  | KENTUCKY ST ECON DEV FIN AUTH LOUISVILLE ARENA PROJ REVENUE  | CUSIP: 49127KBU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $744888.60    | 0.26%             | 2041-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Health Care Facilities Financing Authority                            | NEW JERSEY ST HLTH CARE FACS FING AUTH REVENUE               | CUSIP: 645790PF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    490000 | PA      | $335928.12    | 0.12%             | 2051-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| City of New Orleans LA                                                           | NEW ORLEANS LA                                               | CUSIP: 64763FZJ1<br>LEI: 54930084B6KHR5PR2651 | Long             | DBT              | MUN               | US        |    320000 | PA      | $339582.91    | 0.12%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Housing Finance Agency                                            | NORTH CAROLINA ST HSG FIN AGY HOMEOWNERSHIP REVENUE          | CUSIP: 658207T62<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |    500000 | PA      | $525355.40    | 0.18%             | 2042-07-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE         | CUSIP: 64990FWW0<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    800000 | PA      | $860803.84    | 0.30%             | 2040-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Community Development Administration                                    | MARYLAND ST CMNTY DEV ADMIN DEPT HSG & CMNTY DEV             | CUSIP: 57419TQF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    310000 | PA      | $210938.82    | 0.07%             | 2041-09-01      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| Tennessee Housing Development Agency                                             | TENNESSEE HSG DEV AGY RSDL FIN PROGRAM REVENUE               | CUSIP: 880461QW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $220566.22    | 0.08%             | 2042-07-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Glendale Community College District/CA                                           | GLENDALE CA CMNTY CLG DIST                                   | CUSIP: 378394GY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $130489.70    | 0.05%             | 2046-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tuscaloosa City Board of Education                                               | TUSCALOOSA AL CITY BRD OF EDU SCH TAX WARRANTS               | CUSIP: 90059RAW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $210765.41    | 0.07%             | 2041-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Memphis TN                                                               | MEMPHIS TN                                                   | CUSIP: 586145X82<br>LEI: 254900N4APYJWTAF5J46 | Long             | DBT              | MUN               | US        |    665000 | PA      | $664114.29    | 0.23%             | 2045-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                            | MET TRANSPRTN AUTH NY REVENUE                                | CUSIP: 59261AG35<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $999992.80    | 0.35%             | 2045-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                    | MASSACHUSETTS ST                                             | CUSIP: 57582RRL2<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1073746.80   | 0.38%             | 2045-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                         | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57583UA81<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1900000 | PA      | $1935533.42   | 0.68%             | 2044-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                | ILLINOIS ST                                                  | CUSIP: 452152Y54<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    250000 | PA      | $258244.65    | 0.09%             | 2040-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Iowa Higher Education Loan Authority                                             | IOWA ST HGR EDU LOAN AUTH                                    | CUSIP: 4624605U6<br>LEI: 549300DWVTM3KRNR0M36 | Long             | DBT              | MUN               | US        |    250000 | PA      | $268167.43    | 0.09%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Energy Northwest                                                                 | ENERGY N W WA ELEC REVENUE                                   | CUSIP: 29270C4K8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $679689.24    | 0.24%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Utah/The                                                           | UNIV OF UTAH UT REVENUES                                     | CUSIP: 915183X85<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $895759.76    | 0.31%             | 2046-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Bay Transportation Authority Sales Tax Revenue                     | MASSACHUSETTS ST BAY TRANSPRTN AUTH SALES TAX REVENUE        | CUSIP: 575579B63<br>LEI: 549300D2U0XBUXGX8P68 | Long             | DBT              | MUN               | US        |    100000 | PA      | $106418.31    | 0.04%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                    | MASSACHUSETTS ST                                             | CUSIP: 57582RK39<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |    605000 | PA      | $672207.33    | 0.24%             | 2045-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Hamilton OH                                                            | HAMILTON CNTY OH HLTH CARE REVENUE                           | CUSIP: 40727RBT4<br>LEI: 549300TO1E3N4E4YIO28 | Long             | DBT              | MUN               | US        |    250000 | PA      | $234744.85    | 0.08%             | 2046-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | CUSIP: 64990CQE4<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    250000 | PA      | $297918.73    | 0.10%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Glendale Community College District/CA                                           | GLENDALE CA CMNTY CLG DIST                                   | CUSIP: 378394HZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $264616.92    | 0.09%             | 2047-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| San Jose Financing Authority                                                     | SAN JOSE CA FING AUTH WSTWTR REVENUE                         | CUSIP: 79816NBA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1712177.85   | 0.60%             | 2052-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                                 | MINNESOTA ST HSG FIN AGY                                     | CUSIP: 60416TXZ6<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    500000 | PA      | $533129.15    | 0.19%             | 2045-07-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Carson City NV                                                                   | CARSON CITY NV HOSP REVENUE                                  | CUSIP: 145810DU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    390000 | PA      | $402304.54    | 0.14%             | 2042-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Phoenix Civic Improvement Corp                                           | PHOENIX AZ CIVIC IMPT CORP WTR SYS REVENUE                   | CUSIP: 71883RQC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $837392.33    | 0.29%             | 2044-07-01      | 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: 414009QT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1145000 | PA      | $1022999.22   | 0.36%             | 2040-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                        | INDIANA FIN AUTH IN WSTWTR UTIL REVENUE                      | CUSIP: 45505MKU9<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    300000 | PA      | $337003.77    | 0.12%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Humble Independent School District                                               | HUMBLE TX INDEP SCH DIST                                     | CUSIP: 445047MG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1126392.70   | 0.40%             | 2047-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hayward Unified School District                                                  | HAYWARD CA UNIF SCH DIST                                     | CUSIP: 4212905R4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010478.80   | 0.35%             | 2043-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Texas Water Development Board                                                    | TEXAS ST WTR DEV BRD                                         | CUSIP: 882854J60<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    840000 | PA      | $908403.89    | 0.32%             | 2043-10-15      | 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: 64972GXM1<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |    350000 | PA      | $281637.93    | 0.10%             | 2050-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                      | CUSIP: 6461365P2<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    365000 | PA      | $313156.13    | 0.11%             | 2046-06-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Florida Housing Finance Corp                                                     | FLORIDA ST HSG FIN CORP REVENUE                              | CUSIP: 34074MTJ0<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |     40000 | PA      | $38496.55     | 0.01%             | 2044-07-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Sacramento Municipal Utility District                                            | SACRAMENTO CA MUNI UTILITY DIST ELEC REVENUE                 | CUSIP: 786005C71<br>LEI: E3GSVR6ZOU1MX2V7HF33 | Long             | DBT              | MUN               | US        |    250000 | PA      | $255621.58    | 0.09%             | 2040-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                 | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                    | CUSIP: 13032UUN6<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |    750000 | PA      | $767767.28    | 0.27%             | 2049-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan State Building Authority                                                | MICHIGAN ST BLDG AUTH REVENUE                                | CUSIP: 594615BV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $516829.70    | 0.18%             | 2050-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Edmond Public Works Authority                                                    | EDMOND OK PUBLIC WKS AUTH SALES TAX & UTILITY SYS REVENUE    | CUSIP: 28112NJB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250671.63    | 0.09%             | 2047-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| West Travis County Public Utility Agency                                         | WEST TRAVIS CNTY TX PUBLIC UTILITY AGY REVENUE               | CUSIP: 95632CDW6<br>LEI: 549300O1CP7CFGPMMX97 | Long             | DBT              | MUN               | US        |    230000 | PA      | $231306.19    | 0.08%             | 2041-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| San Jacinto Community College District                                           | SAN JACINTO TX CMNTY CLG DIST                                | CUSIP: 798025PX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $985155.12    | 0.35%             | 2044-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                              | WISCONSIN ST HLTH & EDUCTNL FACS AUTH REVENUE                | CUSIP: 97712DA55<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    105000 | PA      | $98755.57     | 0.03%             | 2042-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                 | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                    | CUSIP: 13032UNG9<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1027477.00   | 0.36%             | 2047-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Turnpike Authority                                                    | NEW JERSEY ST TURNPIKE AUTH TURNPIKE REVENUE                 | CUSIP: 646140DC4<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   1280000 | PA      | $1271112.32   | 0.45%             | 2048-01-01      | Fixed         | 4.00%                 | 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: 64972GRD8<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |    750000 | PA      | $810509.33    | 0.28%             | 2040-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH SALES TAX REVENUE                      | CUSIP: 64990AQN8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1165000 | PA      | $1255994.07   | 0.44%             | 2048-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| American Municipal Power Inc                                                     | AMERICAN MUNI PWR-OHIO INC OH REVENUE                        | CUSIP: 02765UKQ6<br>LEI: EARKGGZJJEMVD66XQ486 | Long             | DBT              | MUN               | US        |    220000 | PA      | $226853.70    | 0.08%             | 2046-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE         | CUSIP: 64990FX74<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $871809.60    | 0.31%             | 2052-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Delaware State Health Facilities Authority                                       | DELAWARE ST HLTH FACS AUTH REVENUE                           | CUSIP: 246388SR4<br>LEI: 549300RXU7M05ZYSJG42 | Long             | DBT              | MUN               | US        |    115000 | PA      | $113675.49    | 0.04%             | 2043-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |

### Signature

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

**Name of Applicant:** VanEck ETF Trust

**Signature:** James Parker

**Name of Signer:** James Parker

**Title:** Assistant Treasurer