# EDGAR Filing Document

**Accession Number:** 0000030126
**File Stem:** 0000894189-25-015110
**Filing Date:** 2025-11
**Character Count:** 185996
**Document Hash:** 5324ad086f2e7351d7a11cc5d2d5b438
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-015110.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0000894189-25-015110

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251125

**DATE AS OF CHANGE**: 20251125

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RMB INVESTORS TRUST
- **CENTRAL INDEX KEY:** 0000030126

**ORGANIZATION NAME:**
- **EIN:** 133536115
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-00994
- **FILM NUMBER:** 251519036

**BUSINESS ADDRESS:**
- **STREET 1:** ONE NORTH WACKER DRIVE
- **STREET 2:** SUITE 3500
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 8008743863

**MAIL ADDRESS:**
- **STREET 1:** ONE NORTH WACKER DRIVE
- **STREET 2:** SUITE 3500
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BURNHAM INVESTORS TRUST
- **DATE OF NAME CHANGE:** 20000327

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DREXEL BURNHAM FUND
- **DATE OF NAME CHANGE:** 19890706

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DREXEL EQUITY FUND INC
- **DATE OF NAME CHANGE:** 19751208

## Series and Classes Contracts Data

### RMB Quality Intermediate Tax-Exempt Municipal Fund (Series ID: S000094874)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000263453 | Class I      |  |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **RMB Quality Intermediate Tax-Exempt Municipal Fund** | **RMB Quality Intermediate Tax-Exempt Municipal Fund** | **RMB Quality Intermediate Tax-Exempt Municipal Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** |
| **MUNICIPAL BONDS - 96.2%** | **Par** | **Value**  |
| **Alabama - 0.4%** | **Alabama - 0.4%** | **Alabama - 0.4%** |
|  City of Cullman AL, 4.00%, 04/01/2035 | $20000 | $20442 |
|  County of Shelby AL, 3.75%, 08/15/2037 | 80000 | 79976 |
|  Water Works Board of the City of Birmingham, 5.00%, 01/01/2027 | 150000 | 154634 |
|  |  | 255052 |
| **Alaska - 0.5%** | **Alaska - 0.5%** | **Alaska - 0.5%** |
|  State of Alaska, 5.00%, 08/01/2027 | 335000 | 350738 |
| **Arizona - 0.2%** | **Arizona - 0.2%** | **Arizona - 0.2%** |
|  Pima County Unified School District No 12 Sunnyside, 3.50%, 07/01/2034 | 100000 | 100018 |
| **Arkansas - 0.3%** | **Arkansas - 0.3%** | **Arkansas - 0.3%** |
|  Farmington School District No 6, 3.00%, 02/01/2029 | 70000 | 70009 |
|  Lonoke County School District No 4 Cabot, 4.00%, 02/01/2037 | 115000 | 115860 |
|  Rogers School District No 30, 3.00%, 02/01/2031 | 35000 | 35007 |
|  |  | 220876 |
| **California - 0.1%** | **California - 0.1%** | **California - 0.1%** |
|  Arvin Union School District, 0.00%, 11/01/2041 <sup>(a)</sup> | 45000 | 22399 |
|  Galt Joint Union Elementary School District, 3.13%, 08/01/2032 | 5000 | 5007 |
|  Santa Monica-Malibu Unified School District, 4.00%, 08/01/2041 | 15000 | 15035 |
|  University of California, 5.00%, 05/15/2029 | 25000 | 26077 |
|  |  | 68518 |
| **Colorado - 1.3%** | **Colorado - 1.3%** | **Colorado - 1.3%** |
|  Basalt & Rural Fire Protection District, 5.00%, 12/01/2035 | 45000 | 50758 |
|  City of Boulder CO Storm Water & Flood Management Revenue, 3.38%, 12/01/2033 | 90000 | 90015 |
|  Colorado Health Facilities Authority, 5.00%, 11/15/2048 (Obligor: Adventhealth Oblig Group) <sup>(b)</sup> | 75000 | 75228 |
|  South Adams County Water & Sanitation District, 3.38%, 12/01/2037 | 350000 | 335841 |
|  Strasburg School District No 31J, 4.00%, 12/01/2039 | 290000 | 291283 |
|  |  | 843125 |
| **Connecticut - 3.9%** | **Connecticut - 3.9%** | **Connecticut - 3.9%** |
|  State of Connecticut, 3.50%, 03/15/2035 | 405000 | 405010 |
| State of Connecticut Special Tax Revenue | State of Connecticut Special Tax Revenue | State of Connecticut Special Tax Revenue |
| &nbsp;&nbsp; 5.00%, 01/01/2029 | 100000 | 105650 |
| &nbsp;&nbsp; 5.00%, 01/01/2030 | 925000 | 977379 |
| &nbsp;&nbsp; 5.00%, 10/01/2032 | 760000 | 809939 |
|  Town of Putnam CT, 3.13%, 02/01/2034 | 200000 | 198324 |
|  University of Connecticut, 5.00%, 05/01/2029 | 5000 | 5444 |
|  |  | 2501746 |
| **District of Columbia - 0.2%** | **District of Columbia - 0.2%** | **District of Columbia - 0.2%** |
|  District of Columbia, 5.00%, 02/01/2029 | 100000 | 108356 |
| **Florida - 2.7%** | **Florida - 2.7%** | **Florida - 2.7%** |
|  Central Florida Tourism Oversight District, 5.00%, 06/01/2028 | 150000 | 152082 |
|  City of Eustis FL Water & Sewer Revenue, 3.38%, 10/01/2036 | 95000 | 93520 |
|  City of Lakeland FL Department of Electric Utilities, 5.00%, 10/01/2028 | 20000 | 21363 |
|  City of Miami Beach FL Stormwater Revenue, 3.75%, 09/01/2036 | 115000 | 115014 |
|  City of Sarasota FL, 3.25%, 07/01/2033 | 125000 | 125015 |
|  County of Hillsborough FL Utility Revenue, 3.00%, 08/01/2030 | 290000 | 290247 |
|  County of Manatee FL, 4.00%, 10/01/2038 | 50000 | 50890 |
|  Florida Department of Environmental Protection, 5.00%, 07/01/2027 | 70000 | 73119 |
|  School Board of Miami-Dade County, 5.00%, 03/15/2030 | 20000 | 22111 |
| State of Florida | State of Florida | State of Florida |
| &nbsp;&nbsp; 5.00%, 06/01/2029 | 100000 | 109404 |
| &nbsp;&nbsp; 3.00%, 06/01/2030 | 200000 | 200023 |
| &nbsp;&nbsp; 3.00%, 06/01/2036 | 215000 | 213968 |
|  State of Florida Department of Transportation Turnpike System Revenue, 5.00%, 07/01/2028 | 65000 | 69590 |
|  Tohopekaliga Water Authority, 4.00%, 10/01/2036 | 215000 | 216095 |
|  |  | 1752441 |
| **Georgia - 1.1%** | **Georgia - 1.1%** | **Georgia - 1.1%** |
|  Columbia County Public Facilities Authority, 5.00%, 04/01/2027 | 30000 | 31166 |
|  Forsyth County Water & Sewerage Authority, 5.00%, 04/01/2028 | 65000 | 69304 |
|  Lamar County School District/GA, 5.00%, 03/01/2026 | 5000 | 5050 |
|  Metropolitan Atlanta Rapid Transit Authority, 5.00%, 07/01/2028 | 250000 | 254676 |
|  Monroe County School District/GA, 5.00%, 02/01/2027 | 65000 | 67182 |
|  Sandy Springs Public Facilities Authority, 5.00%, 05/01/2027 | 285000 | 297077 |
|  |  | 724455 |
| **Illinois - 3.7%** | **Illinois - 3.7%** | **Illinois - 3.7%** |
|  Adams County School District No 172, 3.63%, 02/01/2037 | 100000 | 100014 |
|  Central Lake County Joint Action Water Agency, 4.00%, 05/01/2030 | 75000 | 75409 |
|  City of Aurora IL, 3.75%, 12/30/2035 | 445000 | 445053 |
|  City of O'Fallon IL, 3.50%, 12/01/2034 | 190000 | 190364 |
|  Cook County Community Consolidated School District No 15 Palatine, 5.00%, 12/01/2028 | 60000 | 64623 |
|  Cook Kane Lake & McHenry Counties Community College District No 512, 4.00%, 12/15/2026 | 55000 | 55929 |
|  DuPage County Community Unit School District No 202 Lisle, 4.00%, 12/30/2028 | 405000 | 413313 |
|  La Salle & Bureau Counties Township High School District No 120 LaSalle-Peru, 4.00%, 12/01/2030 | 540000 | 545748 |
|  Peoria City School District No 150, 3.63%, 01/01/2034 | 20000 | 20018 |
|  Village of Hampshire IL, 5.00%, 12/15/2026 | 180000 | 184706 |
|  Village of Mount Prospect IL, 3.75%, 12/01/2037 | 30000 | 30028 |
|  Village of Plainfield IL Water & Sewer System Revenue, 5.00%, 05/01/2033 | 20000 | 22666 |
|  Williamson County Community Unit School District No 5 Carterville, 3.75%, 01/01/2039 | 220000 | 217436 |
|  |  | 2365307 |
| **Indiana - 4.7%** | **Indiana - 4.7%** | **Indiana - 4.7%** |
|  Argos Community Schools Building Corp., 5.00%, 07/15/2039 | 50000 | 53323 |
|  Beech Grove Central School Building Corp., 5.00%, 07/15/2027 | 205000 | 213432 |
| Benton School Improvement Building Corp. | Benton School Improvement Building Corp. | Benton School Improvement Building Corp. |
| &nbsp;&nbsp; 5.00%, 07/15/2029 | 80000 | 86783 |
| &nbsp;&nbsp; 5.00%, 01/15/2030 | 80000 | 87443 |
| &nbsp;&nbsp; 5.00%, 07/15/2030 | 85000 | 93776 |
| &nbsp;&nbsp; 5.00%, 01/15/2031 | 85000 | 94248 |
| &nbsp;&nbsp; 5.00%, 07/15/2031 | 90000 | 100613 |
| &nbsp;&nbsp; 5.00%, 01/15/2032 | 90000 | 100909 |
| &nbsp;&nbsp; 5.00%, 07/15/2032 | 90000 | 101279 |
| &nbsp;&nbsp; 5.00%, 01/15/2033 | 95000 | 107146 |
| &nbsp;&nbsp; 5.00%, 07/15/2035 | 110000 | 126522 |
|  City of Bloomington IN, 3.75%, 08/15/2036 | 5000 | 5025 |
|  Crown Point Multi School Building Corp., 5.00%, 07/15/2034 | 100000 | 109382 |
|  East Washington Multi School Building Corp., 4.00%, 07/15/2036 | 10000 | 10321 |
|  Elkhart Community Schools Building Corp., 3.75%, 01/15/2038 | 35000 | 34726 |
|  Franklin Township-Marion County Multiple School Building Corp., 5.00%, 07/15/2039 | 180000 | 195827 |
|  Hamilton Heights School Building Corp., 4.00%, 01/15/2027 | 10000 | 10155 |
|  Lawrence Township School Building Corp., 5.00%, 07/15/2040 | 125000 | 134671 |
|  Madison Consolidated School Building Corp./IN, 5.00%, 01/15/2033 | 105000 | 119225 |
| Rochester Community School Corp. | Rochester Community School Corp. | Rochester Community School Corp. |
| &nbsp;&nbsp; 5.00%, 07/15/2027 | 85000 | 88481 |
| &nbsp;&nbsp; 4.00%, 01/15/2034 | 135000 | 143022 |
| &nbsp;&nbsp; 4.00%, 07/15/2034 | 70000 | 74104 |
| &nbsp;&nbsp; 4.00%, 01/15/2035 | 70000 | 73752 |
| Town of Munster IN Waterworks Revenue | Town of Munster IN Waterworks Revenue | Town of Munster IN Waterworks Revenue |
| &nbsp;&nbsp; 5.00%, 01/01/2026 | 250000 | 251231 |
| &nbsp;&nbsp; 6.00%, 01/01/2033 | 425000 | 504327 |
| &nbsp;&nbsp; 4.00%, 07/01/2038 | 110000 | 111040 |
|  |  | 3030763 |
| **Iowa - 1.0%** | **Iowa - 1.0%** | **Iowa - 1.0%** |
|  County of Pocahontas IA, 4.00%, 06/01/2035 | 35000 | 36298 |
|  Garner-Hayfield-Ventura Community School District, 5.00%, 06/01/2036 | 235000 | 262584 |
|  GMG Community School District, 5.00%, 06/01/2034 | 95000 | 107782 |
|  Southeast Polk Community School District, 5.00%, 05/01/2032 | 10000 | 11079 |
|  Underwood Community School District, 5.00%, 06/01/2033 | 10000 | 11382 |
|  Winterset Community School District, 3.00%, 05/01/2027 | 200000 | 200041 |
|  |  | 629166 |
| **Kansas - 2.3%** | **Kansas - 2.3%** | **Kansas - 2.3%** |
|  City of Derby KS, 3.20%, 12/01/2035 | 75000 | 72965 |
|  City of Olathe KS, 5.00%, 10/01/2027 | 1015000 | 1066059 |
|  City of Shawnee KS, 4.00%, 12/01/2027 | 30000 | 30994 |
|  City of Spring Hill KS, 4.00%, 09/01/2031 | 20000 | 21171 |
|  Kansas Development Finance Authority, 5.00%, 05/01/2029 (Obligor: University Of Kansas) | 50000 | 54421 |
|  Riley County Unified School District No 383 Manhattan-Ogden, 5.00%, 09/01/2027 | 30000 | 30736 |
|  Saline Dickinson & McPherson Counties Unified School District No 306, 3.00%, 09/01/2027 | 65000 | 65000 |
|  Sedgwick County Unified School District No 260 Derby, 4.00%, 10/01/2038 | 120000 | 120165 |
|  |  | 1461511 |
| **Kentucky - 3.7%** | **Kentucky - 3.7%** | **Kentucky - 3.7%** |
|  Barren County School District Finance Corp., 3.50%, 04/01/2034 | 5000 | 5006 |
|  City of Henderson KY, 3.00%, 04/01/2027 | 405000 | 404426 |
|  Jefferson County School District Finance Corp., 3.75%, 10/01/2038 | 45000 | 44503 |
|  Johnson County School District Finance Corp., 4.00%, 09/01/2032 | 140000 | 148642 |
|  Kentucky Bond Corp., 3.00%, 02/01/2033 | 100000 | 97878 |
|  Lewis County School District Finance Corp., 3.25%, 09/01/2035 | 25000 | 24626 |
|  Louisville Water Co., 3.00%, 11/15/2028 | 755000 | 755123 |
|  Metcalfe County School District Finance Corp., 3.00%, 12/01/2030 | 25000 | 25005 |
|  Owen County School District Finance Corp., 3.50%, 05/01/2037 | 230000 | 227752 |
|  Perry County School District Finance Corp., 3.00%, 02/01/2029 | 40000 | 40033 |
|  Pulaski County School District Finance Corp., 4.25%, 06/01/2039 | 400000 | 407731 |
|  Simpson County School District Finance Corp., 3.05%, 08/01/2028 | 25000 | 25005 |
|  Wayne County School District Finance Corp., 3.75%, 08/01/2038 | 160000 | 160204 |
|  |  | 2365934 |
| **Louisiana - 3.1%** | **Louisiana - 3.1%** | **Louisiana - 3.1%** |
|  Calcasieu Parish School District No 23, 4.00%, 09/01/2039 | 700000 | 693596 |
|  City of Lafayette LA Sales & Use Tax Revenue, 3.75%, 05/01/2027 | 50000 | 50035 |
|  City of New Orleans LA Water System Revenue, 5.00%, 12/01/2040 | 640000 | 642409 |
|  Louisiana Local Government Environmental Facilities & Community Development Auth, 5.00%, 10/01/2026 (Obligor: La Cmnty & Tech Clg Sys) | 10000 | 10235 |
|  Parish of East Baton Rouge Capital Improvements District, 5.00%, 08/01/2029 | 125000 | 137066 |
|  Parish of Rapides LA, 3.00%, 03/01/2027 | 50000 | 49999 |
|  St Charles Parish School District No 1, 3.50%, 03/01/2035 | 225000 | 225001 |
| St John the Baptist Parish School District No 1 | St John the Baptist Parish School District No 1 | St John the Baptist Parish School District No 1 |
| &nbsp;&nbsp; 3.13%, 03/01/2028 | 70000 | 70006 |
| &nbsp;&nbsp; 3.63%, 03/01/2033 | 50000 | 50014 |
|  Union Parish Consolidated School District No 1, 4.00%, 03/01/2027 | 50000 | 50319 |
|  |  | 1978680 |
| **Maryland - 1.8%** | **Maryland - 1.8%** | **Maryland - 1.8%** |
|  County of Baltimore MD, 5.00%, 02/01/2029 | 1000000 | 1085572 |
|  Washington Suburban Sanitary Commission, 3.00%, 06/01/2029 | 100000 | 100533 |
|  |  | 1186105 |
| **Massachusetts - 2.7%** | **Massachusetts - 2.7%** | **Massachusetts - 2.7%** |
|  City of Lawrence MA, 4.00%, 06/01/2043 | 150000 | 145630 |
|  City of Springfield MA, 4.00%, 03/01/2041 | 710000 | 703395 |
|  Massachusetts School Building Authority, 5.00%, 08/15/2037 | 380000 | 380446 |
|  Massachusetts State College Building Authority, 3.00%, 05/01/2032 | 245000 | 245394 |
|  Town of Hingham MA, 5.00%, 02/01/2030 | 5000 | 5602 |
|  Town of Scituate MA, 5.00%, 12/01/2026 | 15000 | 15472 |
|  Town of Somerset MA, 4.00%, 04/01/2043 | 235000 | 226237 |
|  |  | 1722176 |
| **Michigan - 6.1%** | **Michigan - 6.1%** | **Michigan - 6.1%** |
|  Anchor Bay School District, 4.50%, 05/01/2043 | 255000 | 258014 |
|  Avondale School District, 3.50%, 11/01/2037 | 45000 | 45086 |
|  Benzie County Central Schools/MI, 4.00%, 05/01/2035 | 5000 | 5176 |
| City of Alpena MI | City of Alpena MI | City of Alpena MI |
| &nbsp;&nbsp; 5.00%, 10/01/2031 | 145000 | 163942 |
| &nbsp;&nbsp; 5.00%, 10/01/2034 | 85000 | 98223 |
| &nbsp;&nbsp; 5.00%, 10/01/2036 | 25000 | 28509 |
| &nbsp;&nbsp; 4.00%, 10/01/2039 | 20000 | 20256 |
| &nbsp;&nbsp; 4.00%, 10/01/2040 | 300000 | 304974 |
|  City of Tecumseh MI, 4.00%, 10/01/2039 | 310000 | 316553 |
|  Clinton-Macomb Public Library, 3.30%, 04/01/2032 | 150000 | 150005 |
|  DeTour Area Schools, 4.00%, 05/01/2033 | 50000 | 52475 |
|  Grand Rapids & Kent County Joint Building Authority, 0.00%, 12/01/2028 <sup>(a)</sup> | 360000 | 330530 |
|  Gwinn Area Community School District, 3.00%, 05/01/2030 | 440000 | 438673 |
|  Hart Public Schools/MI, 5.00%, 05/01/2041 | 345000 | 372157 |
|  Laingsburg Community School District, 4.00%, 05/01/2029 | 250000 | 252258 |
|  Memphis Community Schools, 4.00%, 05/01/2036 | 110000 | 116806 |
|  Morenci Area Schools, 5.25%, 05/01/2034 | 100000 | 114282 |
|  Niles Community Schools/MI, 3.25%, 05/01/2029 | 60000 | 60026 |
|  Parchment School District, 3.38%, 05/01/2036 | 220000 | 220013 |
|  Perry Public Schools, 4.00%, 05/01/2030 | 100000 | 100049 |
|  Plymouth-Canton Community School District, 3.00%, 05/01/2028 | 85000 | 85230 |
|  Rapid River Public Schools, 5.00%, 05/01/2028 | 130000 | 137160 |
|  Thornapple Kellogg School District, 4.00%, 05/01/2028 | 250000 | 252300 |
|  |  | 3922697 |
| **Minnesota - 4.7%** | **Minnesota - 4.7%** | **Minnesota - 4.7%** |
|  City of Buffalo MN, 3.00%, 06/01/2031 | 400000 | 400071 |
|  City of Burnsville MN, 3.00%, 12/20/2033 | 5000 | 5022 |
|  City of Chanhassen MN, 3.00%, 02/01/2028 | 10000 | 10032 |
|  City of Delano MN, 3.25%, 02/01/2032 | 30000 | 30006 |
|  City of Lino Lakes MN, 3.00%, 02/01/2031 | 360000 | 359805 |
|  City of Willmar MN, 3.00%, 02/01/2031 | 40000 | 40236 |
|  County of Blue Earth MN, 5.00%, 12/01/2033 | 1070000 | 1241360 |
|  County of Jackson MN, 4.00%, 02/01/2036 | 15000 | 15392 |
|  County of Ramsey MN, 3.00%, 02/01/2028 | 30000 | 30046 |
|  County of St Louis MN, 5.00%, 12/01/2036 | 150000 | 172854 |
|  County of Stevens MN, 4.00%, 12/01/2033 | 10000 | 10552 |
|  Glencoe-Silver Lake Independent School District No 2859, 3.75%, 02/01/2037 | 50000 | 50011 |
|  Luverne Independent School District No 2184, 3.13%, 02/01/2036 | 15000 | 14696 |
|  Metropolitan Council, 3.00%, 03/01/2033 | 60000 | 60023 |
|  Moorhead Independent School District No 152, 3.00%, 02/01/2028 | 200000 | 200171 |
|  Mountain Iron-Buhl Independent School District No 712, 3.00%, 02/01/2034 | 300000 | 297800 |
|  Spring Lake Park Independent School District No 16, 3.00%, 02/01/2029 | 40000 | 40016 |
|  Todd Morrison Stearns Counties Independent School District No 2753, 5.00%, 02/01/2026 | 55000 | 55433 |
|  |  | 3033526 |
| **Missouri - 1.0%** | **Missouri - 1.0%** | **Missouri - 1.0%** |
|  Bi-State Development Agency of the Missouri-Illinois Metropolitan District, 5.00%, 10/01/2027 | 130000 | 136254 |
|  City of Columbia MO, 5.00%, 10/01/2027 | 50000 | 52435 |
|  City of Independence MO, 5.00%, 03/01/2028 | 80000 | 84775 |
|  Kansas City School District/MO, 5.00%, 03/01/2038 | 20000 | 22529 |
|  Lincoln County Fire Protection District No 1, 5.00%, 03/01/2032 | 10000 | 11214 |
|  Little Blue Valley Sewer District, 3.13%, 09/01/2031 | 100000 | 100015 |
|  Meadville Reorganized School District No R-4 Linn, 5.00%, 03/01/2037 | 50000 | 51498 |
|  Newton County Reorganized School District No R-6, 5.00%, 03/01/2028 | 175000 | 184348 |
|  |  | 643068 |
| **Montana - 0.0%<sup>(c)</sup>** | **Montana - 0.0%<sup>(c)</sup>** | **Montana - 0.0%<sup>(c)</sup>** |
|  Gallatin County High School District No 7 Bozeman, 4.00%, 06/01/2029 | 20000 | 20444 |
| **Nebraska - 2.0%** | **Nebraska - 2.0%** | **Nebraska - 2.0%** |
|  City of Gretna NE, 4.38%, 12/15/2041 | 1100000 | 1102960 |
|  City of Omaha NE, 4.00%, 04/15/2028 | 15000 | 15293 |
|  Douglas County School District No 59/NE, 4.00%, 12/15/2031 | 40000 | 40105 |
|  York School District/NE, 5.00%, 12/15/2031 | 135000 | 148790 |
|  |  | 1307148 |
| **Nevada - 0.1%** | **Nevada - 0.1%** | **Nevada - 0.1%** |
|  County of Clark NV, 3.00%, 11/01/2033 | 80000 | 78669 |
| **New Hampshire - 0.2%** | **New Hampshire - 0.2%** | **New Hampshire - 0.2%** |
|  State of New Hampshire, 5.00%, 04/01/2037 | 115000 | 130772 |
| **New Jersey - 2.2%** | **New Jersey - 2.2%** | **New Jersey - 2.2%** |
|  City of New Brunswick NJ, 3.00%, 02/15/2030 | 35000 | 35038 |
|  County of Bergen NJ, 3.00%, 07/15/2031 | 200000 | 200813 |
|  Kingsway Regional School District, 3.00%, 01/15/2028 | 40000 | 40025 |
|  Moorestown Township School District, 5.00%, 01/01/2026 | 15000 | 15025 |
|  Passaic County Utilities Authority, 3.00%, 03/01/2030 | 125000 | 125024 |
|  Township of Clinton NJ, 3.00%, 01/15/2030 | 5000 | 5005 |
| Township of Dennis NJ | Township of Dennis NJ | Township of Dennis NJ |
| &nbsp;&nbsp; 4.00%, 09/15/2033 | 300000 | 328027 |
| &nbsp;&nbsp; 4.00%, 09/15/2034 | 600000 | 641057 |
|  Township of Verona NJ, 3.00%, 02/15/2030 | 20000 | 20024 |
|  |  | 1410038 |
| **New Mexico - 0.0%<sup>(c)</sup>** | **New Mexico - 0.0%<sup>(c)</sup>** | **New Mexico - 0.0%<sup>(c)</sup>** |
|  City of Albuquerque NM, 3.00%, 07/01/2030 | 30000 | 30215 |
| **New York - 3.5%** | **New York - 3.5%** | **New York - 3.5%** |
|  Central Square Central School District, 4.00%, 10/01/2030 | 385000 | 396872 |
| Guilderland Central School District | Guilderland Central School District | Guilderland Central School District |
| &nbsp;&nbsp; 3.00%, 06/15/2028 | 100000 | 100016 |
| &nbsp;&nbsp; 3.00%, 06/15/2030 | 100000 | 100017 |
|  Nanuet Union Free School District, 4.00%, 12/01/2038 | 5000 | 5152 |
|  New York City Transitional Finance Authority Building Aid Revenue, 4.00%, 07/15/2042 | 85000 | 82307 |
| New York City Transitional Finance Authority Future Tax Secured Revenue | New York City Transitional Finance Authority Future Tax Secured Revenue | New York City Transitional Finance Authority Future Tax Secured Revenue |
| &nbsp;&nbsp; 5.00%, 08/01/2029 | 100000 | 109422 |
| &nbsp;&nbsp; 5.00%, 11/01/2030 | 95000 | 106536 |
| &nbsp;&nbsp; 4.50%, 11/01/2039 | 900000 | 925581 |
| &nbsp;&nbsp; 4.00%, 11/01/2040 | 25000 | 24611 |
|  Orchard Park Central School District, 5.00%, 09/01/2030 | 260000 | 280110 |
| Port Authority of New York & New Jersey | Port Authority of New York & New Jersey | Port Authority of New York & New Jersey |
| &nbsp;&nbsp; 5.00%, 10/15/2027 | 50000 | 50044 |
| &nbsp;&nbsp; 5.00%, 10/15/2031 | 25000 | 25022 |
|  Union Springs Central School District, 3.00%, 06/15/2028 | 10000 | 10016 |
|  Village of Williston Park NY, 3.00%, 08/15/2027 | 10000 | 10026 |
|  |  | 2225732 |
| **North Carolina - 0.4%** | **North Carolina - 0.4%** | **North Carolina - 0.4%** |
| County of Guilford NC | County of Guilford NC | County of Guilford NC |
| &nbsp;&nbsp; 3.00%, 02/01/2027 | 25000 | 25030 |
| &nbsp;&nbsp; 5.00%, 03/01/2030 | 30000 | 33407 |
| Greenville Utilities Commission | Greenville Utilities Commission | Greenville Utilities Commission |
| &nbsp;&nbsp; 5.00%, 04/01/2027 | 25000 | 25314 |
| &nbsp;&nbsp; 5.00%, 09/01/2029 | 150000 | 164955 |
|  |  | 248706 |
| **North Dakota - 0.8%** | **North Dakota - 0.8%** | **North Dakota - 0.8%** |
|  Minot Public School District No 1, 4.00%, 08/01/2032 | 500000 | 525637 |
| **Ohio - 4.9%** | **Ohio - 4.9%** | **Ohio - 4.9%** |
| City of Cincinnati OH | City of Cincinnati OH | City of Cincinnati OH |
| &nbsp;&nbsp; 3.00%, 12/01/2028 | 250000 | 250709 |
| &nbsp;&nbsp; 4.00%, 12/01/2030 | 375000 | 386237 |
|  City of Dayton OH Water System Revenue, 5.50%, 12/01/2040 | 250000 | 270103 |
| City of Sidney OH | City of Sidney OH | City of Sidney OH |
| &nbsp;&nbsp; 4.00%, 12/01/2030 | 40000 | 42673 |
| &nbsp;&nbsp; 4.00%, 12/01/2031 | 150000 | 159015 |
| &nbsp;&nbsp; 5.00%, 12/01/2043 | 125000 | 129690 |
|  City of Zanesville OH, 4.00%, 12/01/2038 | 300000 | 312279 |
|  Columbus City School District, 4.00%, 12/01/2038 | 55000 | 55112 |
|  County of Clark OH, 3.63%, 12/01/2038 | 75000 | 73993 |
|  County of Lucas OH, 3.00%, 10/01/2028 | 135000 | 135498 |
|  Edison Local School District/Jefferson County, 3.00%, 12/01/2029 | 25000 | 25130 |
|  Hardin & Houston Local School District, 4.00%, 12/01/2035 | 110000 | 110031 |
|  Ohio Water Development Authority Water Pollution Control Loan Fund, 5.00%, 12/01/2032 | 600000 | 693314 |
| State of Ohio | State of Ohio | State of Ohio |
| &nbsp;&nbsp; 5.00%, 03/01/2028 | 250000 | 265770 |
| &nbsp;&nbsp; 5.00%, 06/15/2029 | 165000 | 180548 |
| &nbsp;&nbsp; 5.00%, 04/01/2035 | 40000 | 46630 |
|  |  | 3136732 |
| **Oklahoma - 2.5%** | **Oklahoma - 2.5%** | **Oklahoma - 2.5%** |
|  Canadian County Independent School District No 69 Mustang, 3.00%, 06/01/2026 | 5000 | 5007 |
|  City of Broken Arrow OK, 5.00%, 11/01/2035 | 20000 | 22508 |
| City of Tulsa OK | City of Tulsa OK | City of Tulsa OK |
| &nbsp;&nbsp; 4.00%, 11/01/2029 | 1000000 | 1057375 |
| &nbsp;&nbsp; 4.00%, 11/01/2036 | 420000 | 437573 |
|  Oklahoma Water Resources Board, 4.00%, 10/01/2038 | 60000 | 60228 |
|  |  | 1582691 |
| **Oregon - 0.4%** | **Oregon - 0.4%** | **Oregon - 0.4%** |
|  City of Portland OR Water System Revenue, 4.00%, 04/01/2032 | 250000 | 249178 |
|  Tri-County Metropolitan Transportation District of Oregon, 5.00%, 09/01/2029 | 5000 | 5229 |
|  |  | 254407 |
| **Pennsylvania - 1.8%** | **Pennsylvania - 1.8%** | **Pennsylvania - 1.8%** |
|  Big Spring School District, 3.13%, 02/15/2028 | 100000 | 100035 |
|  Chambersburg Area School District, 3.63%, 03/01/2033 | 25000 | 25046 |
|  Cheltenham Township School District, 2.00%, 02/15/2031 | 15000 | 13958 |
|  Commonwealth of Pennsylvania, 3.00%, 09/15/2033 | 100000 | 98486 |
|  County of Franklin PA, 3.50%, 11/01/2038 | 235000 | 227619 |
|  Greater Hazleton Joint Sewer Authority, 4.00%, 05/15/2028 | 20000 | 20802 |
|  Mars Area School District, 3.50%, 03/01/2038 | 185000 | 179763 |
|  Wilkinsburg School District, 3.00%, 05/15/2029 | 40000 | 40003 |
| Wilson School District | Wilson School District | Wilson School District |
| &nbsp;&nbsp; 5.00%, 05/15/2037 | 200000 | 220107 |
| &nbsp;&nbsp; 5.00%, 05/15/2042 | 250000 | 265572 |
|  |  | 1191391 |
| **Rhode Island - 0.5%** | **Rhode Island - 0.5%** | **Rhode Island - 0.5%** |
|  Rhode Island Infrastructure Bank, 5.00%, 10/01/2030 | 175000 | 193132 |
|  Town of Bristol RI, 5.00%, 07/01/2033 | 100000 | 115896 |
|  |  | 309028 |
| **South Carolina - 1.2%** | **South Carolina - 1.2%** | **South Carolina - 1.2%** |
|  Anderson County School District No 4/SC, 5.00%, 03/01/2039 | 300000 | 334987 |
|  City of North Charleston SC, 3.00%, 06/01/2027 | 20000 | 20002 |
|  Clemson University, 3.10%, 05/01/2030 | 100000 | 100090 |
|  Commission of Public Works City of Greer, 5.00%, 09/01/2036 | 25000 | 28205 |
|  County of Greenwood SC, 5.00%, 10/01/2026 (Obligor: Self Regional Healthcare) | 30000 | 30662 |
|  County of Pickens SC, 3.00%, 06/01/2033 | 55000 | 54253 |
|  County of Richland SC, 4.00%, 03/01/2028 | 45000 | 46787 |
|  Irmo-Chapin Recreational District, 3.00%, 03/01/2029 | 45000 | 45002 |
|  Lexington County School District No 2, 3.00%, 03/01/2034 | 75000 | 73664 |
|  State of South Carolina, 5.00%, 04/01/2031 | 45000 | 51087 |
|  |  | 784739 |
| **South Dakota - 0.0%<sup>(c)</sup>** | **South Dakota - 0.0%<sup>(c)</sup>** | **South Dakota - 0.0%<sup>(c)</sup>** |
|  Harrisburg School District No 41-2, 5.00%, 02/01/2028 | 15000 | 15893 |
| **Tennessee - 3.4%** | **Tennessee - 3.4%** | **Tennessee - 3.4%** |
|  City of Dayton TN, 4.00%, 06/01/2032 | 105000 | 111934 |
| City of Knoxville TN Electric System Revenue | City of Knoxville TN Electric System Revenue | City of Knoxville TN Electric System Revenue |
| &nbsp;&nbsp; 3.00%, 07/01/2028 | 100000 | 100007 |
| &nbsp;&nbsp; 3.25%, 07/01/2036 | 115000 | 111896 |
| City of Lexington TN Electric Revenue | City of Lexington TN Electric Revenue | City of Lexington TN Electric Revenue |
| &nbsp;&nbsp; 5.00%, 08/01/2026 | 60000 | 61114 |
| &nbsp;&nbsp; 5.00%, 08/01/2027 | 65000 | 67728 |
|  City of Memphis TN, 5.00%, 12/01/2030 | 15000 | 16865 |
|  City of Memphis TN Memphis Light Gas & Water Division Gas Revenue, 5.00%, 12/01/2028 | 70000 | 71944 |
|  City of Springfield TN, 3.25%, 06/01/2036 | 55000 | 53530 |
|  County of Sullivan TN, 3.38%, 05/01/2036 | 355000 | 349808 |
|  County of Williamson TN, 4.00%, 04/01/2030 | 10000 | 10192 |
|  State of Tennessee, 5.00%, 05/01/2036 | 1100000 | 1243290 |
|  |  | 2198308 |
| **Texas - 11.9%** | **Texas - 11.9%** | **Texas - 11.9%** |
|  Anderson-Shiro Consolidated Independent School District, 3.00%, 02/15/2032 | 370000 | 367705 |
|  Arlington Independent School District/TX, 5.00%, 02/15/2028 | 50000 | 53026 |
|  Bonham Independent School District, 4.00%, 02/15/2053 | 5000 | 5442 |
|  City of Austin TX, 5.00%, 09/01/2043 | 90000 | 96955 |
|  City of Balch Springs TX, 5.00%, 09/01/2033 | 80000 | 90758 |
|  City of Crowley TX, 3.50%, 08/01/2037 | 50000 | 48731 |
|  City of Deer Park TX, 4.00%, 03/15/2026 | 170000 | 170974 |
|  City of Del Rio TX, 3.00%, 06/01/2029 | 100000 | 100022 |
|  City of Denton TX, 3.50%, 02/15/2036 | 250000 | 248400 |
|  City of Houston TX Combined Utility System Revenue, 4.00%, 11/15/2032 | 145000 | 145110 |
|  City of Hutto TX, 5.00%, 08/01/2030 | 220000 | 244663 |
|  City of Irving TX Waterworks & Sewer System Revenue, 3.00%, 08/15/2033 | 50000 | 49536 |
|  City of Keller TX, 3.00%, 02/15/2029 | 200000 | 200351 |
|  City of Laredo TX, 4.00%, 02/15/2036 | 500000 | 500802 |
|  City of McKinney TX, 5.00%, 08/15/2035 | 20000 | 22819 |
|  City of Melissa TX, 4.00%, 02/15/2033 | 500000 | 500729 |
|  City of Murphy TX, 3.50%, 02/15/2038 | 95000 | 93568 |
|  City of Plano TX, 3.00%, 09/01/2032 | 200000 | 199115 |
|  City of Pleasanton TX, 4.00%, 08/01/2039 | 175000 | 178693 |
|  City of Victoria TX, 3.00%, 08/15/2027 | 50000 | 50002 |
|  Coolidge Independent School District, 5.00%, 02/15/2035 | 360000 | 408096 |
|  County of Blanco TX, 5.00%, 08/01/2034 | 10000 | 11094 |
|  County of Caldwell TX, 3.25%, 02/01/2028 | 570000 | 567317 |
|  County of Chambers TX, 4.13%, 03/01/2042 | 415000 | 406020 |
|  Dallas Area Rapid Transit, 4.00%, 12/01/2037 | 300000 | 300316 |
|  Dallas Independent School District, 5.00%, 02/15/2027 | 75000 | 77502 |
|  Galveston Independent School District, 5.00%, 02/01/2029 | 85000 | 92131 |
|  Houston Independent School District, 5.00%, 02/15/2033 | 40000 | 46015 |
|  La Porte Independent School District/TX, 3.00%, 02/15/2028 | 50000 | 50006 |
|  Lewisville Independent School District, 4.00%, 08/15/2038 | 300000 | 301566 |
|  Longview Independent School District, 5.00%, 02/15/2027 | 90000 | 93052 |
|  Lovejoy Independent School District, 3.00%, 02/15/2029 | 50000 | 50015 |
|  Pearland Independent School District, 5.00%, 02/15/2029 | 60000 | 65090 |
|  Plainview Independent School District, 4.00%, 02/15/2038 | 100000 | 101284 |
|  Rankin Independent School District, 4.00%, 02/15/2032 | 755000 | 792223 |
|  Riceland Management District, 6.50%, 09/01/2032 | 215000 | 257718 |
|  Rogers Independent School District, 3.00%, 08/15/2030 | 200000 | 200025 |
|  San Antonio River Authority Wastewater System Revenue, 4.00%, 01/01/2031 | 50000 | 52378 |
|  Town of Westlake TX, 4.00%, 02/15/2029 | 10000 | 10158 |
|  Trinity River Authority Central Regional Wastewater System Revenue, 5.00%, 08/01/2026 | 180000 | 183698 |
|  Wylie Independent School District, 3.25%, 08/15/2041 <sup>(b)(d)</sup> | 165000 | 163094 |
| Ysleta Independent School District | Ysleta Independent School District | Ysleta Independent School District |
| &nbsp;&nbsp; 4.00%, 08/15/2036 | 100000 | 102415 |
| &nbsp;&nbsp; 4.00%, 08/15/2039 | 5000 | 5055 |
|  |  | 7703669 |
| **Utah - 1.9%** | **Utah - 1.9%** | **Utah - 1.9%** |
|  Central Utah Water Conservancy District, 4.00%, 10/01/2038 | 885000 | 885525 |
|  City of Herriman City UT, 3.50%, 08/01/2035 | 195000 | 195008 |
|  City of Saratoga Springs UT Water Revenue, 3.00%, 12/01/2027 | 75000 | 75204 |
|  Murray City School District, 5.00%, 02/01/2029 | 20000 | 21658 |
|  Utah Transit Authority, 5.00%, 06/15/2031 | 25000 | 27803 |
|  |  | 1205198 |
| **Virginia - 4.3%** | **Virginia - 4.3%** | **Virginia - 4.3%** |
|  Commonwealth of Virginia, 5.00%, 06/01/2030 | 905000 | 964818 |
|  County of Spotsylvania VA, 5.00%, 01/15/2028 | 1000000 | 1059140 |
|  Virginia Resources Authority, 4.00%, 11/01/2041 | 770000 | 771491 |
|  |  | 2795449 |
| **Washington - 1.9%** | **Washington - 1.9%** | **Washington - 1.9%** |
|  Auburn School District No 408 of King & Pierce Counties, 5.00%, 12/01/2029 | 40000 | 44139 |
|  City of Bothell WA, 5.00%, 03/01/2027 | 300000 | 310856 |
|  City of Bothell WA Combined Utility Revenue, 3.25%, 12/01/2031 | 25000 | 25002 |
|  City of Seattle WA Drainage & Wastewater Revenue, 5.00%, 09/01/2027 | 225000 | 236121 |
|  City of Tacoma WA Sewer Revenue, 5.00%, 12/01/2029 | 105000 | 115952 |
|  Clark County Fire Protection District No 6, 4.00%, 12/01/2027 | 50000 | 50735 |
|  Clark County Public Utility District No 1 Water Revenue, 5.00%, 01/01/2028 | 100000 | 103039 |
|  County of King WA, 5.00%, 12/01/2030 | 60000 | 67615 |
|  Cowlitz County School District No 458 Kelso/WA, 4.00%, 12/01/2033 | 65000 | 66828 |
|  Lake Whatcom Water & Sewer District, 4.00%, 11/01/2035 | 65000 | 65022 |
|  Snohomish & Island Counties School District No 401 Stanwood-Camano, 4.00%, 12/15/2033 | 5000 | 5089 |
|  Snohomish County School District No 103 Monroe, 5.00%, 12/01/2030 | 40000 | 44891 |
|  Thurston County School District No 33 Tumwater/WA, 5.00%, 12/01/2028 | 100000 | 101601 |
|  |  | 1236890 |
| **Wisconsin - 6.8%** | **Wisconsin - 6.8%** | **Wisconsin - 6.8%** |
|  Appleton Area School District, 5.00%, 03/01/2033 | 130000 | 142012 |
|  Bristol School District No 1/WI, 4.13%, 05/01/2041 | 5000 | 5448 |
|  City of Beaver Dam WI, 3.00%, 04/01/2026 | 100000 | 100043 |
|  City of Madison WI, 3.00%, 10/01/2026 | 20000 | 20004 |
|  City of Oak Creek WI, 4.00%, 04/01/2031 | 10000 | 10550 |
|  City of River Falls WI Water System Revenue, 5.00%, 05/01/2030 | 20000 | 22074 |
|  City of Sparta WI, 5.00%, 05/01/2034 | 25000 | 28616 |
|  City of Superior WI, 3.00%, 10/01/2027 | 210000 | 210497 |
|  City of West Bend WI, 4.00%, 04/01/2039 | 800000 | 806218 |
|  County of Dunn WI, 4.00%, 09/01/2034 | 240000 | 257940 |
|  County of Sauk WI, 3.00%, 04/01/2027 | 20000 | 20024 |
|  Hartford Joint School District No 1, 4.00%, 04/01/2036 | 90000 | 94335 |
|  Kenosha Unified School District No 1/WI, 3.00%, 04/01/2029 | 605000 | 605961 |
|  Lakeshore Technical College District, 5.00%, 03/01/2026 | 40000 | 40350 |
|  Monona Grove School District/WI, 4.00%, 05/01/2032 | 70000 | 72935 |
|  Onalaska School District, 5.00%, 04/01/2036 | 25000 | 27715 |
|  Racine Unified School District, 4.00%, 04/01/2030 | 665000 | 685364 |
|  Reedsburg School District, 3.00%, 04/01/2031 | 55000 | 55147 |
|  Sheboygan Falls School District, 4.00%, 04/01/2027 | 125000 | 125146 |
|  Village of DeForest WI, 5.00%, 05/01/2033 | 75000 | 84663 |
|  Village of Shorewood WI, 3.00%, 08/01/2029 | 335000 | 334619 |
|  Village of Sussex WI, 4.00%, 03/01/2034 | 20000 | 21234 |
| Wisconsin Department of Transportation | Wisconsin Department of Transportation | Wisconsin Department of Transportation |
| &nbsp;&nbsp; 5.00%, 07/01/2027 | 250000 | 261580 |
| &nbsp;&nbsp; 4.00%, 07/01/2039 | 375000 | 376099 |
|  |  | 4408574 |
| **TOTAL MUNICIPAL BONDS** (Cost $62,012,253) | **TOTAL MUNICIPAL BONDS** (Cost $62,012,253) | 62064588 |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **MONEY MARKET FUNDS - 21.1%** | **Shares** | **Value**  |
| Federated Institutional Tax-Free Cash Trust - Class Premier, 2.93% <sup>(e)</sup> | 13592888 | 13592888 |
| **TOTAL MONEY MARKET FUNDS** (Cost $13,592,888) | **TOTAL MONEY MARKET FUNDS** (Cost $13,592,888) | 13592888 |
| **TOTAL INVESTMENTS - 117.3% (**Cost $75,605,141**)** | **TOTAL INVESTMENTS - 117.3% (**Cost $75,605,141**)** | 75657476 |
| Liabilities in Excess of Other Assets - (17.3)% | Liabilities in Excess of Other Assets - (17.3)% | (11152545) |
| **TOTAL NET ASSETS - 100.0%** |  | $64504931 |
| Par amount is in USD unless otherwise indicated. | Par amount is in USD unless otherwise indicated. |  |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | –% |

---

(a) Zero coupon bonds make no periodic interest payments.

(b) Coupon rate may be variable or floating based on components other than reference rate and spread. These securities may not indicate a reference rate and/or spread in their description. The rate
 disclosed is as of September 30, 2025.

(c) Represents less than 0.05% of net assets.

(d) Step coupon bond. The rate disclosed is as of September 30, 2025.

(e) The rate shown represents the 7-day annualized yield as of September 30, 2025.

<br> The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by Curi Capital, LLC.

------

#### Investment Valuation
Portfolio holdings and any other Fund assets shall be valued each day on which the New York Stock Exchange is open for business, using readily available market quotations at such times as are established in the Trust's registration statement. If market quotations for a portfolio holding are unavailable, or deemed by Curi Capital, LLC ("Curi" or the "Adviser") to be unreliable, the portfolio holding shall be fair valued by the Adviser, as the "valuation designee" approved by the Board of Trustees of the Trust (the "Board") pursuant to Rule 2a-5 under the 1940 Act, in accordance with valuation procedures approved by the Board.

*Exchange-Listed Equities and Funds and Depositary Receipts*

The market value of an equity security, exchange-traded fund (e.g., ETF or closed-end fund), or depositary receipt (e.g., ADR or GDR) traded on a national stock exchange (other than Nasdaq Global Markets, Nasdaq Select Market and the Nasdaq Capital Markets (together, "Nasdaq")) is the last reported sale price on the exchange on which the security trades on the valuation date. If there is no such last sale reported, the security is valued at the mean between the last bid and asked prices on the exchange.

The market value of a security traded on Nasdaq is the Nasdaq Official Closing Price (or "NOCP") on the valuation date. The NOCP is determined by Nasdaq to be the last reported sale price, unless the last sale price is above or below the last reported bid and asked prices. If the last reported bid and asked prices are above the last sale price, the last reported bid is used; conversely, if the last reported bid and asked prices are below the last sale price, the last reported asked price serves as the NOCP. If no last sales price is reported, the security is valued at the mean between the closing bid and closing asked prices on the market on which the security trades.

*Over-the-Counter Securities*

Securities traded over-the-counter ("OTC") are valued at the last reported sale in the OTC market on which the security trades, such as the OTC Bulletin Board, Pink OTC Markets, Inc. or other recognized OTC market, on the valuation date. If no last sale is reported, the security is valued at the mean between the closing bid and the closing asked prices on the market on which the security trades.

*Foreign Securities*

Foreign securities (which are principally traded in markets other than the U.S.) are valued based upon the last reported sale price on the primary exchange or market on which they trade as of the close of business of such exchange or market immediately preceding the time of determining the Fund's NAV. Any Fund assets or liabilities initially valued in terms of non-U.S. dollar currencies are translated into U.S. dollars at the prevailing foreign currency exchange market rates. For portfolio holdings which trade in markets that close prior to the close of trading on the New York Stock Exchange ("NYSE"), which is generally 4:00 p.m., Eastern time, a fair value price provided by an Adviser-approved pricing service ("Pricing Service") is generally used in order to capture events occurring after the applicable foreign exchange closes that may affect the value of certain portfolio holdings traded on that foreign exchange.

*Options*

Options traded on an exchange are valued at the last reported sale price. If no sales are reported on a particular business day, the average of the highest bid and lowest asked quotations across the exchanges on which the option is traded is used.

*Open-end Registered Investment Companies (excluding ETFs and Closed-End Funds)*

Shares of open-end registered investment companies ("funds") are valued using their respective NAVs. If a fund's NAV is not available, the last reported NAV of the fund may be used for one day.

*Fixed-Income Securities*

Fixed-income securities, including bonds, notes, debentures, certificates of deposit, and commercial paper, generally are valued at the evaluated mean between the closing bid and closing asked prices provided by the Pricing Service. Pricing Services generally take into account appropriate factors such as institutional-sized trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics, and other market data and may provide a price determined by a matrix pricing method or other analytical pricing models.

#### Fair Value Measurements
U.S. GAAP defines fair value as the price that would be received in the sale of an asset or that would be paid to transfer a liability in an orderly transaction between market participants on the measurement date. Various inputs are used in determining the fair value of a Fund's investments, other assets, and liabilities. These inputs are classified into one of three broad levels that comprise the fair value hierarchy. The lowest level for any significant input used in determining the fair value of an investment, other asset, or liability determines the classification of that asset or liability in the hierarchy. The three levels of the fair value hierarchy are as follows:<br>

**Level 1** — Prices are determined using unadjusted exchange-traded prices in active markets for identical securities. This technique is used for exchange-traded domestic common and preferred equities and certain options.<br>

**Level 2** — Prices are determined using significant observable inputs. "Observable inputs" reflect the assumptions that market participants would use in valuing an asset or liability based on market data obtained from independent sources. Observable inputs may include quoted prices for similar securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these techniques are received from independent pricing vendors and are based on an evaluation of the inputs described. These techniques are used for certain domestic preferred equities, unlisted rights and warrants and certain options.

**Level 3** — Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable, such as when there is little or no market activity for an investment, unobservable inputs may be used. Unobservable inputs reflect Curi's Valuation Committee's own assumptions about the factors that market participants would use in pricing an investment and are based on the best information available. These inputs include, but are not limited to, the cost of the security at the date of purchase; fundamental analytical data relating to the issuer of the security, the type of security and relevant financial statements; special reports, if any, prepared by qualified analysts; and the nature and duration of restrictions, if any, on disposition of the security. Securities using this technique are generally thinly traded or privately placed, and may be valued using broker quotes, which may not only use observable or unobservable inputs but may also include the use of brokers' own judgments about the assumptions that market participants would use.

The following table provides the fair value measurements of applicable Fund assets by security class and fair value hierarchy level as of September 30, 2025. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **At September 30, 2025** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **RMB Quality Intermediate Tax-Exempt Municipal Fund** | **RMB Quality Intermediate Tax-Exempt Municipal Fund** | | | |
| Assets |  |  |  |  |
| Municipal Bonds<sup>1</sup> | $- | $62064588 | $- | $62064588 |
| Money Market Funds | 13592888 | - | - | 13592888 |
| Total Investments | $13592888 | $62064588 | $- | $75657476 |

---

<sup>1</sup> Refer to the Fund's Schedule of Investments for a breakdown of holdings by state.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** RMB Investors Trust

- **b. Investment Company Act file number:** 811-00994

- **c. CIK number of Registrant:** 0000030126

- **d. LEI of Registrant:** 549300570F7FXT1I1D59

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

  - **Street Address 1:** One North Wacker Drive

  - **City:** Chicago

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60606

  - **Telephone number:** 800-462-2392

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

- **a. Name of Series:** RMB Quality Intermediate Tax-Exempt Municipal Fund

- **b. EDGAR series identifier (if any):** S000094874

- **c. LEI of Series:** 254900YCMEI5NUATN707

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**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:** $80364005.02

**Total Liabilities:** $15861193.84

**Net Assets:** $64502811.18

**Delayed Delivery Securities:** $9623810.37

**Cash Not Reported:** $7239904.60

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 1918.804947000000 | **1-Year:** 6210.908153000000 | **5-Year:** 11358.231789000000 | **10-Year:** 6924.519940000000 | **30-Year:** 14.318030000000

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

- **3-Month:** 0.185345000000 | **1-Year:** 104.025861000000 | **5-Year:** 451.492372000000 | **10-Year:** 3.291656000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000263453 | 0.00%                | 0.00%                | 0.16%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $0.00                                      |
| Month 2  | $0.00                    | $0.00                                      |
| Month 3  | $0.00                    | $51182.51                                  |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| RACINE WI UNIF SCH DIST        | Racine Unified School District                                                   | CUSIP: 750046TU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    665000 | PA      | $685364.10    | 1.06%             | 2030-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RAPIDES PARISH LA              | Parish of Rapides LA                                                             | CUSIP: 753466FV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $49999.07     | 0.08%             | 2027-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SAINT JOHN THE BAPTIST PARISHL | St John the Baptist Parish School District No 1                                  | CUSIP: 790229RE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $70005.92     | 0.11%             | 2028-03-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| SCITUATE MA                    | Town of Scituate MA                                                              | CUSIP: 809095B35<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $15471.87     | 0.02%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SNOHOMISH CNTY WA SCH DIST #10 | Snohomish County School District No 103 Monroe                                   | CUSIP: 833209MH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $44890.70     | 0.07%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST              | State of South Carolina                                                          | CUSIP: 83710RZP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $51086.43     | 0.08%             | 2031-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TACOMA WA SWR REVENUE          | City of Tacoma WA Sewer Revenue                                                  | CUSIP: 873545LH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $115952.37    | 0.18%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRINITY RIVER TX AUTH REGL WST | Trinity River Authority Central Regional Wastewater System Revenue               | CUSIP: 89658HYD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $183698.21    | 0.28%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MEMPHIS TN GAS SYSTEM REVENUE  | City of Memphis TN Memphis Light Gas & Water Division Gas Revenue                | CUSIP: 58616PAM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $71944.23     | 0.11%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NANUET NY UNION FREE SCH DIST  | Nanuet Union Free School District                                                | CUSIP: 630242JG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5152.39      | 0.01%             | 2038-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OLATHE KS                      | City of Olathe KS                                                                | CUSIP: 679384RE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1015000 | PA      | $1066058.66   | 1.65%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PEORIA CNTY IL SCH DIST #150 P | Peoria City School District No 150                                               | CUSIP: 713040HM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20017.71     | 0.03%             | 2034-01-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| PICKENS CNTY SC                | County of Pickens SC                                                             | CUSIP: 719644FY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     55000 | PA      | $54253.23     | 0.08%             | 2033-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| VICTORIA TX                    | City of Victoria TX                                                              | CUSIP: 926293ZE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50002.12     | 0.08%             | 2027-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WILLIAMSON CNTY TN             | County of Williamson TN                                                          | CUSIP: 969872MV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $10192.27     | 0.02%             | 2030-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RIVER FALLS WI WTR SYS REV     | City of River Falls WI Water System Revenue                                      | CUSIP: 768194BC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $22074.12     | 0.03%             | 2030-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCHESTER IN CMNTY SCH CORP    | Rochester Community School Corp                                                  | CUSIP: 771420BG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $143022.25    | 0.22%             | 2034-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAINT CHARLES PARISH LA SCH DI | St Charles Parish School District No 1                                           | CUSIP: 788076SR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $225000.63    | 0.35%             | 2035-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SANDY SPRINGS GA PUBLIC FACS A | Sandy Springs Public Facilities Authority                                        | CUSIP: 80036RDB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    285000 | PA      | $297076.59    | 0.46%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SARATOGA SPRINGS UT WTR REVENU | City of Saratoga Springs UT Water Revenue                                        | CUSIP: 803566BW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $75203.79     | 0.12%             | 2027-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SIDNEY OH                      | City of Sidney OH                                                                | CUSIP: 826112KM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $42673.08     | 0.07%             | 2030-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WILLIAMSON CNTY IL CMNTY UNITS | Williamson County Community Unit School District No 5 Carterville                | CUSIP: 969788KN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $217436.34    | 0.34%             | 2039-01-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| WILSON PA SCH DIST             | Wilson School District                                                           | CUSIP: 972369SE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $220106.92    | 0.34%             | 2037-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST TRANSPRTN REVENUE | Wisconsin Department of Transportation                                           | CUSIP: 9771232K3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $376099.05    | 0.58%             | 2039-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| YSLETA TX INDEP SCH DIST       | Ysleta Independent School District                                               | CUSIP: 98816PCN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $102415.18    | 0.16%             | 2036-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| YSLETA TX INDEP SCH DIST       | Ysleta Independent School District                                               | CUSIP: 98816PCR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5054.84      | 0.01%             | 2039-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MONONA GROVE WI SCH DIST       | Monona Grove School District/WI                                                  | CUSIP: 610056MA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $72934.64     | 0.11%             | 2032-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MONROE CNTY GA SCH DIST        | Monroe County School District/GA                                                 | CUSIP: 610550CY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     65000 | PA      | $67181.85     | 0.10%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MURRAY CITY UT SCH DIST        | Murray City School District                                                      | CUSIP: 626864HA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $21657.88     | 0.03%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW BRUNSWICK NJ               | City of New Brunswick NJ                                                         | CUSIP: 642815R97<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $35038.17     | 0.05%             | 2030-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST WTR DEV AUTH WTR POLL  | Ohio Water Development Authority Water Pollution Control Loan Fund               | CUSIP: 67766WN99<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $693314.34    | 1.07%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BEECH GROVE IN CENTRL SCH BLDG | Beech Grove Central School Building Corp                                         | CUSIP: 076692FD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    205000 | PA      | $213431.77    | 0.33%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BENTON IN SCH IMPT BLDG CORP   | Benton School Improvement Building Corp                                          | CUSIP: 083209DK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $107146.42    | 0.17%             | 2033-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST                | Commonwealth of Pennsylvania                                                     | CUSIP: 70914PE99<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $98485.70     | 0.15%             | 2033-09-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| POCAHONTAS CNTY IA             | County of Pocahontas IA                                                          | CUSIP: 730238AL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $36297.75     | 0.06%             | 2035-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BOULDER CO STORM WTR & FLOOD M | City of Boulder CO Storm Water & Flood Management Revenue                        | CUSIP: 101458CU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     90000 | PA      | $90015.42     | 0.14%             | 2033-12-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| BUFFALO MN                     | City of Buffalo MN                                                               | CUSIP: 119638XY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $400070.60    | 0.62%             | 2031-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PORTLAND OR WTR SYS REVENUE    | City of Portland OR Water System Revenue                                         | CUSIP: 736754PF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $249178.38    | 0.39%             | 2032-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF CALIFORNIA REVENUES    | University of California                                                         | CUSIP: 91412GW50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $26076.64     | 0.04%             | 2029-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CANADIAN CNTY OK INDEP SCH DIS | Canadian County Independent School District No 69 Mustang                        | CUSIP: 135591HR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5007.22      | 0.01%             | 2026-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV | Colorado Health Facilities Authority                                             | CUSIP: 19648FGN8<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |     75000 | PA      | $75227.84     | 0.12%             | 2048-11-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY KY SCH DIST FIN COR | Wayne County School District Finance Corp                                        | CUSIP: 944480PF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $160203.79    | 0.25%             | 2038-08-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ZANESVILLE OH                  | City of Zanesville OH                                                            | CUSIP: 989025SR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $312279.03    | 0.48%             | 2038-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLUMBIA CNTY GA PUB FACS AUTH | Columbia County Public Facilities Authority                                      | CUSIP: 197483AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $31166.18     | 0.05%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAMPSHIRE IL                   | Village of Hampshire IL                                                          | CUSIP: 408864FD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $184705.90    | 0.29%             | 2026-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HENDERSON KY                   | City of Henderson KY                                                             | CUSIP: 425074LG4<br>LEI: 549300UJ32J1O26W1T80 | Long             | DBT              | MUN               | US        |    405000 | PA      | $404425.95    | 0.63%             | 2027-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| HILLSBOROUGH CNTY FL UTILITY R | County of Hillsborough FL Utility Revenue                                        | CUSIP: 432347MF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $290246.94    | 0.45%             | 2030-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| HUTTO TX                       | City of Hutto TX                                                                 | CUSIP: 448474ZA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $244662.57    | 0.38%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| APPLETON WI AREA SCH DIST      | Appleton Area School District                                                    | CUSIP: 038106SS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $142012.05    | 0.22%             | 2033-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BENTON IN SCH IMPT BLDG CORP   | Benton School Improvement Building Corp                                          | CUSIP: 083209DF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     85000 | PA      | $94248.11     | 0.15%             | 2031-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BENTON IN SCH IMPT BLDG CORP   | Benton School Improvement Building Corp                                          | CUSIP: 083209DH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     90000 | PA      | $100909.31    | 0.16%             | 2032-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLANCO CNTY TX                 | County of Blanco TX                                                              | CUSIP: 093338CF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $11094.48     | 0.02%             | 2034-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLUE EARTH CNTY MN             | County of Blue Earth MN                                                          | CUSIP: 095410RF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1070000 | PA      | $1241360.29   | 1.92%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BOTHELL WA                     | City of Bothell WA                                                               | CUSIP: 101295HM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $310855.74    | 0.48%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CINCINNATI OH                  | City of Cincinnati OH                                                            | CUSIP: 172217A92<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $386236.58    | 0.60%             | 2030-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NV                  | County of Clark NV                                                               | CUSIP: 180848UJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     80000 | PA      | $78668.96     | 0.12%             | 2033-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CLINTON-MACOMB MI PUBLIC LIBRA | Clinton-Macomb Public Library                                                    | CUSIP: 187857DU8<br>LEI: 549300ZZ6YEGU7W0IW34 | Long             | DBT              | MUN               | US        |    150000 | PA      | $150005.12    | 0.23%             | 2032-04-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| DAYTON TN                      | City of Dayton TN                                                                | CUSIP: 240037RR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $111933.76    | 0.17%             | 2032-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DEER PARK TX                   | City of Deer Park TX                                                             | CUSIP: 2441095K6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    170000 | PA      | $170974.05    | 0.27%             | 2026-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DOUGLAS CNTY NE SCH DIST #59   | Douglas County School District No 59/NE                                          | CUSIP: 259353HF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $40105.11     | 0.06%             | 2031-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DU PAGE CNTY IL CMNTY UNIT SCH | DuPage County Community Unit School District No 202 Lisle                        | CUSIP: 263496GD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    405000 | PA      | $413313.52    | 0.64%             | 2028-12-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEPT ENVRNMNTL PROT | Florida Department of Environmental Protection                                   | CUSIP: 34160WA61<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $73119.28     | 0.11%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST TURNPIKE AUTH TURNP | State of Florida Department of Transportation Turnpike System Revenue            | CUSIP: 343137MX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     65000 | PA      | $69590.32     | 0.11%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GALLATIN CNTY MT HIGH SCH DIST | Gallatin County High School District No 7 Bozeman                                | CUSIP: 363658KL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20443.51     | 0.03%             | 2029-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GTR HAZLETON PA JT SWR AUTH    | Greater Hazleton Joint Sewer Authority                                           | CUSIP: 391856ER8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20802.01     | 0.03%             | 2028-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GRETNA NE                      | City of Gretna NE                                                                | CUSIP: 397802QQ5<br>LEI: 549300VHFFLXCKH8RB83 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1102959.77   | 1.71%             | 2041-12-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY KY SCH DIST FIN | Jefferson County School District Finance Corp                                    | CUSIP: 47309QAV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $44503.07     | 0.07%             | 2038-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| KANSAS CITY MO SCH DIST        | Kansas City School District/MO                                                   | CUSIP: 485080GX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $22529.24     | 0.03%             | 2038-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KINGSWAY NJ REGL SCH DIST      | Kingsway Regional School District                                                | CUSIP: 496856DH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $40025.10     | 0.06%             | 2028-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| LA SALLE & BUREAU CNTYS IL TWP | La Salle & Bureau Counties Township High School District No 120 LaSalle-Peru     | CUSIP: 504480DM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    540000 | PA      | $545748.52    | 0.85%             | 2030-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEWIS CNTY KY SCH DIST FIN COR | Lewis County School District Finance Corp                                        | CUSIP: 527759QM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $24626.21     | 0.04%             | 2035-09-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Federated Institutional Tax-Fr | Federated Institutional Tax-Free Cash Trust                                      | CUSIP: 60934N666<br>LEI: 254900WXT2EYU7K33C03 | Long             | STIV             | RF                | US        |  13592888 | NS      | $13592887.91  | 21.07%            |  |  |  | No            |                  1 | On Loan: No      |
| ALPENA MI                      | City of Alpena MI                                                                | CUSIP: 020609DY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $163942.05    | 0.25%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AUSTIN TX                      | City of Austin TX                                                                | CUSIP: 0523975F9<br>LEI: IW10PQVTU7HKS3JMW253 | Long             | DBT              | MUN               | US        |     90000 | PA      | $96955.48     | 0.15%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BERGEN CNTY NJ                 | County of Bergen NJ                                                              | CUSIP: 083763TR3<br>LEI: 549300SC7R4EFIYK0S67 | Long             | DBT              | MUN               | US        |    200000 | PA      | $200813.32    | 0.31%             | 2031-07-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BRISTOL WI SCH DIST #1         | Bristol School District No 1/WI                                                  | CUSIP: 110381EU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5448.04      | 0.01%             | 2041-05-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| BROOKLAND CAYCE SC SCH DIST #2 | Lexington County School District No 2                                            | CUSIP: 113709RQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $73663.43     | 0.11%             | 2034-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CALDWELL CNTY TX               | County of Caldwell TX                                                            | CUSIP: 129006GF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    570000 | PA      | $567317.18    | 0.88%             | 2028-02-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CENTRL LAKE CNTY IL JT ACTIONW | Central Lake County Joint Action Water Agency                                    | CUSIP: 153821HG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $75409.53     | 0.12%             | 2030-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHAMBERS CNTY TX               | County of Chambers TX                                                            | CUSIP: 157789QN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $406020.15    | 0.63%             | 2042-03-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| CINCINNATI OH                  | City of Cincinnati OH                                                            | CUSIP: 172217XL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250708.43    | 0.39%             | 2028-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY WA PUBLIC UTILITY D | Clark County Public Utility District No 1 Water Revenue                          | CUSIP: 181126LS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $103039.03    | 0.16%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST SPL TAX OBLIG R | State of Connecticut Special Tax Revenue                                         | CUSIP: 207758XJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    925000 | PA      | $977378.59    | 1.52%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DUNN CNTY WI                   | County of Dunn WI                                                                | CUSIP: 265777LB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $257940.19    | 0.40%             | 2034-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EUSTIS FL WTR & SWR REVENUE    | City of Eustis FL Water & Sewer Revenue                                          | CUSIP: 298865BR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $93520.19     | 0.14%             | 2036-10-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| FORSYTH CNTY GA WTR & SEWERAGE | Forsyth County Water & Sewerage Authority                                        | CUSIP: 346609KC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     65000 | PA      | $69303.55     | 0.11%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HERRIMAN CITY UT SALES & FRANC | City of Herriman City UT                                                         | CUSIP: 427754BR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    195000 | PA      | $195008.03    | 0.30%             | 2035-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| LEXINGTON TN ELEC REVENUE      | City of Lexington TN Electric Revenue                                            | CUSIP: 529658EL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     65000 | PA      | $67727.70     | 0.10%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LINCOLN CNTY MO FIRE PROT DIST | Lincoln County Fire Protection District No 1                                     | CUSIP: 533241BC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $11213.41     | 0.02%             | 2032-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST CLG BLDG AUTH | Massachusetts State College Building Authority                                   | CUSIP: 575832B58<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    245000 | PA      | $245394.28    | 0.38%             | 2032-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST SCH BLDG AUTH | Massachusetts School Building Authority                                          | CUSIP: 576000SE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    335000 | PA      | $335393.39    | 0.52%             | 2037-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MUNSTER IN WTRWKS REVENUE      | Town of Munster IN Waterworks Revenue                                            | CUSIP: 626405DB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $251231.00    | 0.39%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OMAHA NE                       | City of Omaha NE                                                                 | CUSIP: 6817123B9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $15293.62     | 0.02%             | 2028-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| REEDSBURG WI SCH DIST          | Reedsburg School District                                                        | CUSIP: 758381FS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     55000 | PA      | $55147.25     | 0.09%             | 2031-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ROCHESTER IN CMNTY SCH CORP    | Rochester Community School Corp                                                  | CUSIP: 771420AT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     85000 | PA      | $88480.94     | 0.14%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RICHLAND CNTY SC               | County of Richland SC                                                            | CUSIP: 763631X60<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $46786.82     | 0.07%             | 2028-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ROGERS AR SCH DIST #30         | Rogers School District No 30                                                     | CUSIP: 775082R51<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $35006.90     | 0.05%             | 2031-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ROCHESTER IN CMNTY SCH CORP    | Rochester Community School Corp                                                  | CUSIP: 771420BJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $73752.33     | 0.11%             | 2035-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ROGERS TX INDEP SCH DIST       | Rogers Independent School District                                               | CUSIP: 775286GZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200024.52    | 0.31%             | 2030-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SEDGWICK CNTY KS UNIF SCH DIST | Sedgwick County Unified School District No 260 Derby                             | CUSIP: 815628JL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $120164.60    | 0.19%             | 2038-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| S ADAMS CNTY CO WTR & SANTN DI | South Adams County Water & Sanitation District                                   | CUSIP: 83619CCM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $335841.21    | 0.52%             | 2037-12-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| SARASOTA FL                    | City of Sarasota FL                                                              | CUSIP: 803327LJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $125014.49    | 0.19%             | 2033-07-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| SAUK CNTY WI                   | County of Sauk WI                                                                | CUSIP: 804328JT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20024.06     | 0.03%             | 2027-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| STEVENS CNTY MN                | County of Stevens MN                                                             | CUSIP: 860218GL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $10551.90     | 0.02%             | 2033-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SUSSEX WI                      | Village of Sussex WI                                                             | CUSIP: 869315F89<br>LEI: 549300313T1AE9E7CE80 | Long             | DBT              | MUN               | US        |     20000 | PA      | $21233.92     | 0.03%             | 2034-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TENNESSEE ST                   | State of Tennessee                                                               | CUSIP: 880541J24<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1243289.74   | 1.93%             | 2036-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRI-CNTY MET TRANSPRTN DIST OR | Tri-County Metropolitan Transportation District of Oregon                        | CUSIP: 89546RQG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5228.99      | 0.01%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SHOREWOOD WI                   | Village of Shorewood WI                                                          | CUSIP: 825230RA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    335000 | PA      | $334618.97    | 0.52%             | 2029-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ALASKA ST                      | State of Alaska                                                                  | CUSIP: 0117705S9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    335000 | PA      | $350737.50    | 0.54%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALPENA MI                      | City of Alpena MI                                                                | CUSIP: 020609EG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20255.92     | 0.03%             | 2039-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DALLAS TX AREA RAPID TRANSIT S | Dallas Area Rapid Transit                                                        | CUSIP: 235241SR8<br>LEI: 75YWM81F2R6UQGJIEW47 | Long             | DBT              | MUN               | US        |    300000 | PA      | $300316.50    | 0.47%             | 2037-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DEFOREST WI                    | Village of DeForest WI                                                           | CUSIP: 240297PR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $84663.28     | 0.13%             | 2033-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DEL RIO TX                     | City of Del Rio TX                                                               | CUSIP: 245379G63<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100022.22    | 0.16%             | 2029-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GREENVILLE NC UTILITIES COMMIS | Greenville Utilities Commission                                                  | CUSIP: 396321EW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $164955.15    | 0.26%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAWRENCE MA                    | City of Lawrence MA                                                              | CUSIP: 520229CC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $145629.90    | 0.23%             | 2043-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LUCAS CNTY OH                  | County of Lucas OH                                                               | CUSIP: 54930LPK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $135497.92    | 0.21%             | 2028-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| LUVERNE MN INDEP SCH DIST #218 | Luverne Independent School District No 2184                                      | CUSIP: 550664DF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $14696.14     | 0.02%             | 2036-02-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| METCALFE CNTY KY SCH DIST FINC | Metcalfe County School District Finance Corp                                     | CUSIP: 591459GS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $25004.88     | 0.04%             | 2030-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MINOT ND PUBLIC SCH DIST #1    | Minot Public School District No 1                                                | CUSIP: 604382GU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $525637.35    | 0.81%             | 2032-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MOORHEAD MN INDEP SCH DIST #15 | Moorhead Independent School District No 152                                      | CUSIP: 616157RL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200171.22    | 0.31%             | 2028-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MURPHY TX                      | City of Murphy TX                                                                | CUSIP: 626752UV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $93567.53     | 0.15%             | 2038-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL  | New York City Transitional Finance Authority Future Tax Secured Revenue          | CUSIP: 64971X3Y2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $925581.15    | 1.43%             | 2039-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WASHINGTON MD SUBURBAN SAN DIS | Washington Suburban Sanitary Commission                                          | CUSIP: 940157T59<br>LEI: 549300EZUWNTQF827C24 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100533.05    | 0.16%             | 2029-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ADAMS CNTY IL SCH DIST #172    | Adams County School District No 172                                              | CUSIP: 005824JV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100013.99    | 0.16%             | 2037-02-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| ALBUQUERQUE NM                 | City of Albuquerque NM                                                           | CUSIP: 0135187Y5<br>LEI: 549300MV7H0GASZUCG39 | Long             | DBT              | MUN               | US        |     30000 | PA      | $30214.90     | 0.05%             | 2030-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ALPENA MI                      | City of Alpena MI                                                                | CUSIP: 020609ED1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $28508.89     | 0.04%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TX INDEP SCH DIST    | Arlington Independent School District/TX                                         | CUSIP: 041827AE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $53025.93     | 0.08%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARVIN CA UNION SCH DIST        | Arvin Union School District                                                      | CUSIP: 043303FL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $22398.99     | 0.03%             | 2041-11-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| BALTIMORE CNTY MD              | County of Baltimore MD                                                           | CUSIP: 05914GFK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1085571.80   | 1.68%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BENTON IN SCH IMPT BLDG CORP   | Benton School Improvement Building Corp                                          | CUSIP: 083209DG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     90000 | PA      | $100613.17    | 0.16%             | 2031-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BENTON IN SCH IMPT BLDG CORP   | Benton School Improvement Building Corp                                          | CUSIP: 083209DJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     90000 | PA      | $101278.76    | 0.16%             | 2032-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BENTON IN SCH IMPT BLDG CORP   | Benton School Improvement Building Corp                                          | CUSIP: 083209DQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $126522.40    | 0.20%             | 2035-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BI-ST DEV AGY OF THE MO-IL MET | Bi-State Development Agency of the Missouri-Illinois Metropolitan District       | CUSIP: 088632BX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $136253.49    | 0.21%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BURNSVILLE MN                  | City of Burnsville MN                                                            | CUSIP: 1224582R2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5021.77      | 0.01%             | 2033-12-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CABOT AR SCH DIST #4 LONOKE CN | Lonoke County School District No 4 Cabot                                         | CUSIP: 127037WH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $115859.53    | 0.18%             | 2037-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHAMBERSBURG PA AREA SCH DIST  | Chambersburg Area School District                                                | CUSIP: 157882UX7<br>LEI: 54930064JYU3OJPITC57 | Long             | DBT              | MUN               | US        |     25000 | PA      | $25045.68     | 0.04%             | 2033-03-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY OH                  | County of Clark OH                                                               | CUSIP: 181072QJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $73993.33     | 0.11%             | 2038-12-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| CLINTON TWP NJ                 | Township of Clinton NJ                                                           | CUSIP: 188612GT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5004.54      | 0.01%             | 2030-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| COLUMBIA MO SPL OBLIG          | City of Columbia MO                                                              | CUSIP: 198045MK9<br>LEI: 549300VPLMZFZSZPNV09 | Long             | DBT              | MUN               | US        |     50000 | PA      | $52435.17     | 0.08%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST SPL TAX OBLIG R | State of Connecticut Special Tax Revenue                                         | CUSIP: 207758YG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    760000 | PA      | $809939.07    | 1.26%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COOK CNTY IL CMNTY CONSOL SCHD | Cook County Community Consolidated School District No 15 Palatine                | CUSIP: 213291RE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $64622.71     | 0.10%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COOK KANE LAKE & MCHENRY CNTYS | Cook Kane Lake & McHenry Counties Community College District No 512              | CUSIP: 216181GQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     55000 | PA      | $55928.57     | 0.09%             | 2026-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COWLITZ CNTY WA SCH DIST #458K | Cowlitz County School District No 458 Kelso/WA                                   | CUSIP: 223883FN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     65000 | PA      | $66828.05     | 0.10%             | 2033-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CROWN POINT IN MULTI-SCH BLDGC | Crown Point Multi School Building Corp                                           | CUSIP: 228485LF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $109382.47    | 0.17%             | 2034-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENTON TX                      | City of Denton TX                                                                | CUSIP: 2488662E4<br>LEI: 549300UWEY8IKYK09T27 | Long             | DBT              | MUN               | US        |    250000 | PA      | $248399.68    | 0.39%             | 2036-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GWINN MI AREA CMNTY SCH DIST   | Gwinn Area Community School District                                             | CUSIP: 403666DU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    440000 | PA      | $438672.83    | 0.68%             | 2030-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| HART MI PUBLIC SCHS            | Hart Public Schools/MI                                                           | CUSIP: 416124HA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    345000 | PA      | $372157.09    | 0.58%             | 2041-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX UTILITY SYS REVENUE | City of Houston TX Combined Utility System Revenue                               | CUSIP: 4424355V1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $145110.10    | 0.22%             | 2032-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDEPENDENCE MO                | City of Independence MO                                                          | CUSIP: 453632JC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     80000 | PA      | $84774.88     | 0.13%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST BOND CORP FING PRO | Kentucky Bond Corp                                                               | CUSIP: 49120FEE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $97877.57     | 0.15%             | 2033-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| LAINGSBURG MI CMNTY SCH DIST   | Laingsburg Community School District                                             | CUSIP: 507318ME0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $252258.40    | 0.39%             | 2029-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LAKELAND FL ENERGY SYS REVENUE | City of Lakeland FL Department of Electric Utilities                             | CUSIP: 51166FFJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $21362.52     | 0.03%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAMAR CNTY GA SCH DIST         | Lamar County School District/GA                                                  | CUSIP: 51300PBM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5050.50      | 0.01%             | 2026-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAREDO TX                      | City of Laredo TX                                                                | CUSIP: 516824CL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500801.70    | 0.78%             | 2036-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LAWRENCE TWP IN SCH BLDG CORP  | Lawrence Township School Building Corp                                           | CUSIP: 520354J93<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $134671.01    | 0.21%             | 2040-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEWISVILLE TX INDEP SCH DIST   | Lewisville Independent School District                                           | CUSIP: 52882PEQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $301566.06    | 0.47%             | 2038-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEXINGTON TN ELEC REVENUE      | City of Lexington TN Electric Revenue                                            | CUSIP: 529658EK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $61114.02     | 0.09%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LINO LAKES MN                  | City of Lino Lakes MN                                                            | CUSIP: 536060PL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    360000 | PA      | $359804.88    | 0.56%             | 2031-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| LONGVIEW TX INDEP SCH DIST     | Longview Independent School District                                             | CUSIP: 543264ZL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     90000 | PA      | $93051.79     | 0.14%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISVILLE & JEFFERSON CNTY KY | Louisville Water Co                                                              | CUSIP: 54659RDM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    755000 | PA      | $755123.37    | 1.17%             | 2028-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MADISON IN CONSOL SCH BLDG COR | Madison Consolidated School Building Corp/IN                                     | CUSIP: 557611JW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $119224.71    | 0.18%             | 2033-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MADISON WI                     | City of Madison WI                                                               | CUSIP: 55844RQB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20004.17     | 0.03%             | 2026-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MELISSA TX                     | City of Melissa TX                                                               | CUSIP: 585483PX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500728.65    | 0.78%             | 2033-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MET ATLANTA GA RAPID TRANSIT A | Metropolitan Atlanta Rapid Transit Authority                                     | CUSIP: 591745X74<br>LEI: 5493006NVWO3NVLK0F49 | Long             | DBT              | MUN               | US        |    250000 | PA      | $254676.18    | 0.39%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET COUNCIL MINNEAPOLIS-SAINT  | Metropolitan Council                                                             | CUSIP: 591852F52<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $60022.96     | 0.09%             | 2033-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MIAMI BEACH FL STORMWTR REVENU | City of Miami Beach FL Stormwater Revenue                                        | CUSIP: 59324PDB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $115013.67    | 0.18%             | 2036-09-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL SCH DIST    | School Board of Miami-Dade County/The                                            | CUSIP: 59333RKT0<br>LEI: 549300J3U4QVT6U3O129 | Long             | DBT              | MUN               | US        |     20000 | PA      | $22110.98     | 0.03%             | 2030-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MOUNTAIN IRON-BUHL MN INDEP SC | Mountain Iron-Buhl Independent School District No 712                            | CUSIP: 624142DD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $297799.83    | 0.46%             | 2034-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MUNSTER IN WTRWKS REVENUE      | Town of Munster IN Waterworks Revenue                                            | CUSIP: 626405DR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $504326.51    | 0.78%             | 2033-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL  | New York City Transitional Finance Authority Building Aid Revenue                | CUSIP: 64972HTX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     85000 | PA      | $82306.86     | 0.13%             | 2042-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NILES MI CMNTY SCHS            | Niles Community Schools/MI                                                       | CUSIP: 654271BQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $60026.02     | 0.09%             | 2029-05-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| OAK CREEK WI                   | City of Oak Creek WI                                                             | CUSIP: 671137L47<br>LEI: 549300FLUIG6KPZ61B39 | Long             | DBT              | MUN               | US        |     10000 | PA      | $10550.30     | 0.02%             | 2031-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ORCHARD PARK NY CENTRL SCH DIS | Orchard Park Central School District                                             | CUSIP: 685644XF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $280110.27    | 0.43%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PEARLAND TX INDEP SCH DIST     | Pearland Independent School District                                             | CUSIP: 704880BU6<br>LEI: 549300UU8ZB6DL6OXQ09 | Long             | DBT              | MUN               | US        |     60000 | PA      | $65089.79     | 0.10%             | 2029-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PIMA CNTY AZ UNIF SCH DIST #12 | Pima County Unified School District No 12 Sunnyside                              | CUSIP: 721849LV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100018.02    | 0.16%             | 2034-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| PLAINFIELD IL WTR & SWR SYS RE | Village of Plainfield IL Water & Sewer System Revenue                            | CUSIP: 726273DF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $22665.57     | 0.04%             | 2033-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PLAINVIEW TX INDEP SCH DIST    | Plainview Independent School District                                            | CUSIP: 726736GT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101284.29    | 0.16%             | 2038-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTH OF NEW YORK & NEW JE | Port Authority of New York & New Jersey                                          | CUSIP: 73358WZC1<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |     25000 | PA      | $25021.72     | 0.04%             | 2031-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RAPID RIVER MI PUBLIC SCHS     | Rapid River Public Schools                                                       | CUSIP: 753407KG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $137160.09    | 0.21%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RILEY CNTY KS UNIF SCH DIST #3 | Riley County Unified School District No 383 Manhattan-Ogden                      | CUSIP: 766651QP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30736.47     | 0.05%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SEATTLE WA DRAIN & WSTWTR REVE | City of Seattle WA Drainage & Wastewater Revenue                                 | CUSIP: 812631PN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $236121.41    | 0.37%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SHAWNEE KS                     | City of Shawnee KS                                                               | CUSIP: 820667ZY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30994.23     | 0.05%             | 2027-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SNOHOMISH & ISLAND CNTYS WA SC | Snohomish & Island Counties School District No 401 Stanwood-Camano               | CUSIP: 833068MS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5088.64      | 0.01%             | 2033-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOMERSET MA                    | Town of Somerset MA                                                              | CUSIP: 834834SH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $226237.25    | 0.35%             | 2043-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SPRING LAKE PARK MN INDEP SCH  | Spring Lake Park Independent School District No 16                               | CUSIP: 849832VT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $40016.48     | 0.06%             | 2029-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SPRINGFIELD MA                 | City of Springfield MA                                                           | CUSIP: 850752VM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    710000 | PA      | $703394.94    | 1.09%             | 2041-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SUPERIOR WI                    | City of Superior WI                                                              | CUSIP: 868392D32<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $210496.61    | 0.33%             | 2027-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| VERONA TWP NJ                  | Township of Verona NJ                                                            | CUSIP: 92505PDT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20024.03     | 0.03%             | 2030-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WESTLAKE TX                    | Town of Westlake TX                                                              | CUSIP: 96048PGG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $10157.88     | 0.02%             | 2029-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ANDERSON CNTY SC SCH DIST #4   | Anderson County School District No 4/SC                                          | CUSIP: 033738JG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $334987.32    | 0.52%             | 2039-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARGOS IN CMNTY SCHS BLDG CORP  | Argos Community Schools Building Corp                                            | CUSIP: 040204GA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $53323.20     | 0.08%             | 2039-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AVONDALE MI SCH DIST           | Avondale School District                                                         | CUSIP: 054375TX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $45086.03     | 0.07%             | 2037-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BENTON IN SCH IMPT BLDG CORP   | Benton School Improvement Building Corp                                          | CUSIP: 083209DE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     85000 | PA      | $93776.29     | 0.15%             | 2030-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BENZIE CNTY MI CENTRL SCHS     | Benzie County Central Schools/MI                                                 | CUSIP: 083473FD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5176.30      | 0.01%             | 2035-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BONHAM TX INDEP SCH DIST       | Bonham Independent School District                                               | CUSIP: 098104MP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5442.45      | 0.01%             | 2053-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CENTRL UT WTR CONSERVANCY DIST | Central Utah Water Conservancy District                                          | CUSIP: 15567RBQ5<br>LEI: 5493001AT8W3NBIEDB45 | Long             | DBT              | MUN               | US        |    885000 | PA      | $885525.51    | 1.37%             | 2038-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DERBY KS                       | City of Derby KS                                                                 | CUSIP: 249776BN4<br>LEI: 549300CONBN0WRKRFQ93 | Long             | DBT              | MUN               | US        |     75000 | PA      | $72964.78     | 0.11%             | 2035-12-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| DETOUR MI AREA SCHS            | DeTour Area Schools                                                              | CUSIP: 250673CF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $52474.89     | 0.08%             | 2033-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST BRD OF EDU PUBLIC E | State of Florida                                                                 | CUSIP: 34153QAW6<br>LEI: 5493004G5XFOOUT0LQ57 | Long             | DBT              | MUN               | US        |    200000 | PA      | $200023.10    | 0.31%             | 2030-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FRANKLIN CNTY PA               | County of Franklin PA                                                            | CUSIP: 353244FB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $227618.89    | 0.35%             | 2038-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GALVESTON TX INDEP SCH DIST    | Galveston Independent School District                                            | CUSIP: 364496QW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     85000 | PA      | $92131.27     | 0.14%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IRVING TX WTRWKS & SWR REVENUE | City of Irving TX Waterworks & Sewer System Revenue                              | CUSIP: 463831TS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $49535.73     | 0.08%             | 2033-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| KELLER TX                      | City of Keller TX                                                                | CUSIP: 487685AK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200351.36    | 0.31%             | 2029-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| KENOSHA WI UNIF SCH DIST #1    | Kenosha Unified School District No 1/WI                                          | CUSIP: 489836TW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    605000 | PA      | $605960.50    | 0.94%             | 2029-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| KING & PIERCE CNTY WA SCH DIST | Auburn School District No 408 of King & Pierce Counties                          | CUSIP: 494619GZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $44138.87     | 0.07%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KING CNTY WA                   | County of King WA                                                                | CUSIP: 49474F2F6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $67615.40     | 0.10%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LITTLE BLUE VLY MO SWR DIST SW | Little Blue Valley Sewer District                                                | CUSIP: 537011BT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100015.24    | 0.16%             | 2031-09-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| LOVEJOY TX INDEP SCH DIST      | Lovejoy Independent School District                                              | CUSIP: 547160QW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50014.62     | 0.08%             | 2029-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MANATEE CNTY FL REVENUE        | County of Manatee FL                                                             | CUSIP: 561852GG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50890.42     | 0.08%             | 2038-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PERRY MI PUBLIC SCHS           | Perry Public Schools                                                             | CUSIP: 714738MB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100048.97    | 0.16%             | 2030-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PULASKI CNTY KY SCH DIST FIN C | Pulaski County School District Finance Corp                                      | CUSIP: 745474F76<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $407730.96    | 0.63%             | 2039-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PUTNAM CT                      | Town of Putnam CT                                                                | CUSIP: 746452HE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $198323.70    | 0.31%             | 2034-02-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| RAMSEY CNTY MN                 | County of Ramsey MN                                                              | CUSIP: 751622QQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30045.97     | 0.05%             | 2028-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| RICELAND MGMT DIST TX          | Riceland Management District                                                     | CUSIP: 76283ABF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $257717.88    | 0.40%             | 2032-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ROCHESTER IN CMNTY SCH CORP    | Rochester Community School Corp                                                  | CUSIP: 771420BH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $74103.65     | 0.11%             | 2034-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SIDNEY OH                      | City of Sidney OH                                                                | CUSIP: 826112KN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $159014.93    | 0.25%             | 2031-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SIMPSON CNTY KY SCH DIST FIN C | Simpson County School District Finance Corp                                      | CUSIP: 829021KV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $25005.40     | 0.04%             | 2028-08-01      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| STRASBURG CO SCH DIST #31J     | Strasburg School District No 31J                                                 | CUSIP: 862602DZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $291283.02    | 0.45%             | 2039-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| THORNAPPLE KELLOGG MI SCH DIST | Thornapple Kellogg School District                                               | CUSIP: 885205NA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $252300.43    | 0.39%             | 2028-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| THURSTON CNTY WA SCH DIST #33T | Thurston County School District No 33 Tumwater/WA                                | CUSIP: 886155NK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101601.31    | 0.16%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOHOPEKALIGA FL WTR AUTH UTILI | Tohopekaliga Water Authority                                                     | CUSIP: 88906REY2<br>LEI: 549300IZ325ZGEHGR946 | Long             | DBT              | MUN               | US        |    215000 | PA      | $216095.30    | 0.34%             | 2036-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF CONNECTICUT CT         | University of Connecticut                                                        | CUSIP: 9142332V2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5443.93      | 0.01%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST TRANSIT AUTH SALES TAX | Utah Transit Authority                                                           | CUSIP: 917565GR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $27802.71     | 0.04%             | 2031-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST BEND WI                   | City of West Bend WI                                                             | CUSIP: 951428LX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $806218.24    | 1.25%             | 2039-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WILLISTON PARK NY              | Village of Williston Park NY                                                     | CUSIP: 970735JD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $10025.44     | 0.02%             | 2027-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WILLMAR MN                     | City of Willmar MN                                                               | CUSIP: 970856GH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $40235.63     | 0.06%             | 2031-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WINTERSET IA CMNTY SCH DIST    | Winterset Community School District                                              | CUSIP: 976214FK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200041.26    | 0.31%             | 2027-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST TRANSPRTN REVENUE | Wisconsin Department of Transportation                                           | CUSIP: 977123Q50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $261579.50    | 0.41%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRISTOL RI                     | Town of Bristol RI                                                               | CUSIP: 110169Q69<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $115895.71    | 0.18%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALCASIEU PARISH LA SCH DIST # | Calcasieu Parish School District No 23                                           | CUSIP: 128492KA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $693595.91    | 1.08%             | 2039-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CENTRL SQ NY CENTRL SCH DIST   | Central Square Central School District                                           | CUSIP: 155213NK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    385000 | PA      | $396872.17    | 0.62%             | 2030-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHELTENHAM PA SCH DIST         | Cheltenham Township School District                                              | CUSIP: 1635016P9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $13958.13     | 0.02%             | 2031-02-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST                 | State of Connecticut                                                             | CUSIP: 20772JB35<br>LEI: 549300PHW5BZHA7BEX81 | Long             | DBT              | MUN               | US        |    405000 | PA      | $405010.13    | 0.63%             | 2035-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| DALLAS TX INDEP SCH DIST       | Dallas Independent School District                                               | CUSIP: 235308F65<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $77501.96     | 0.12%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DAYTON OH WTR SYS REVENUE      | City of Dayton OH Water System Revenue                                           | CUSIP: 239878EA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $270103.13    | 0.42%             | 2040-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DENNIS TWP NJ                  | Township of Dennis NJ                                                            | CUSIP: 248599CM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $328027.08    | 0.51%             | 2033-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DENNIS TWP NJ                  | Township of Dennis NJ                                                            | CUSIP: 248599CN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $641056.74    | 0.99%             | 2034-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EAST BATON ROUGE PARISH LA CAP | Parish of East Baton Rouge Capital Improvements District                         | CUSIP: 270773BC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $137066.46    | 0.21%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| E NEWTON CNTY MO REORG SCH DIS | Newton County Reorganized School District No R-6                                 | CUSIP: 273807CL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $184348.38    | 0.29%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| E WASHINGTON IN MULTI-SCH BLDG | East Washington Multi School Building Corp                                       | CUSIP: 275745EM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $10320.79     | 0.02%             | 2036-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EDISON OH LOCAL SCH DIST COPS  | Edison Local School District/Jefferson County                                    | CUSIP: 281102AJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $25130.17     | 0.04%             | 2029-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GREENWOOD CNTY SC HOSP REVENUE | County of Greenwood SC                                                           | CUSIP: 397090HQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30662.36     | 0.05%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GUILFORD CNTY NC               | County of Guilford NC                                                            | CUSIP: 401784T78<br>LEI: 549300OUKUGQGH8RCL96 | Long             | DBT              | MUN               | US        |     30000 | PA      | $33407.08     | 0.05%             | 2030-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAFAYETTE LA PUBLIC IMPT SALES | City of Lafayette LA Sales & Use Tax Revenue                                     | CUSIP: 506485BH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50034.81     | 0.08%             | 2027-05-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| OHIO ST                        | State of Ohio                                                                    | CUSIP: 677523FC1<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |    165000 | PA      | $180548.36    | 0.28%             | 2029-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST SPL OBLG               | State of Ohio                                                                    | CUSIP: 67759HQX5<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |     40000 | PA      | $46629.82     | 0.07%             | 2035-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA ST WTR RES BRD ST LOA | Oklahoma Water Resources Board                                                   | CUSIP: 67920QPS1<br>LEI: 5493007CUNXW5UX11C71 | Long             | DBT              | MUN               | US        |     60000 | PA      | $60228.49     | 0.09%             | 2038-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ONALASKA WI SCH DIST           | Onalaska School District                                                         | CUSIP: 682225LD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $27714.79     | 0.04%             | 2036-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SULLIVAN CNTY TN               | County of Sullivan TN                                                            | CUSIP: 865287TL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    355000 | PA      | $349808.20    | 0.54%             | 2036-05-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| TECUMSEH MI                    | City of Tecumseh MI                                                              | CUSIP: 878793GY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    310000 | PA      | $316553.25    | 0.49%             | 2039-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TULSA OK                       | City of Tulsa OK                                                                 | CUSIP: 899645J89<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1057374.50   | 1.64%             | 2029-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TULSA OK                       | City of Tulsa OK                                                                 | CUSIP: 899645K79<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    420000 | PA      | $437572.67    | 0.68%             | 2036-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNDERWOOD IA CMNTY SCH DIST    | Underwood Community School District                                              | CUSIP: 904410CJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $11381.80     | 0.02%             | 2033-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNION PARISH LA CONSOL SCH DIS | Union Parish Consolidated School District No 1                                   | CUSIP: 907872FY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50318.88     | 0.08%             | 2027-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNION SPRINGS NY CENTRL SCH DI | Union Springs Central School District                                            | CUSIP: 908380JB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $10015.77     | 0.02%             | 2028-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST RESOURCES AUTH INF | Virginia Resources Authority                                                     | CUSIP: 92818MAW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    770000 | PA      | $771490.80    | 1.20%             | 2041-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WYLIE TX INDEP SCH DIST        | Wylie Independent School District                                                | CUSIP: 9830685Y9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $148267.13    | 0.23%             | 2041-08-15      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| YORK CNTY NE SCH DIST #12      | York School District/NE                                                          | CUSIP: 986365HL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $148789.66    | 0.23%             | 2031-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BARREN CNTY KY SCH DIST FIN CO | Barren County School District Finance Corp                                       | CUSIP: 068461UC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5005.82      | 0.01%             | 2034-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BIRMINGHAM AL WTRWKS BRD WTR R | Water Works Board of the City of Birmingham/The                                  | CUSIP: 091096KM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $154633.62    | 0.24%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLOOMINGTON IN                 | City of Bloomington IN                                                           | CUSIP: 094599CP0<br>LEI: 5493005Q4CKD9B975C61 | Long             | DBT              | MUN               | US        |      5000 | PA      | $5024.59      | 0.01%             | 2036-08-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BOTHELL WASH COMB UTIL REV     | City of Bothell WA Combined Utility Revenue                                      | CUSIP: 101298AS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $25002.18     | 0.04%             | 2031-12-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BROKEN ARROW OK                | City of Broken Arrow OK                                                          | CUSIP: 112097U73<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $22507.90     | 0.03%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAMILTON HEIGHTS SCH BLDG CORP | Hamilton Heights School Building Corp                                            | CUSIP: 40739PDF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $10154.60     | 0.02%             | 2027-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HARDIN & HOUSTON OH LOCAL SCH  | Hardin & Houston Local School District                                           | CUSIP: 412162EY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $110031.26    | 0.17%             | 2035-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HINGHAM MA                     | Town of Hingham MA                                                               | CUSIP: 433344XP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5601.88      | 0.01%             | 2030-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX INDEP SCH DIST      | Houston Independent School District                                              | CUSIP: 442403QD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $46014.86     | 0.07%             | 2033-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IRMO-CHAPIN SC RECREATIONAL DI | Irmo-Chapin Recreational District                                                | CUSIP: 462718EY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $45002.39     | 0.07%             | 2029-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| DELANO MN                      | City of Delano MN                                                                | CUSIP: 245667PE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30006.12     | 0.05%             | 2032-02-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST BRD OF EDU PUBLIC E | State of Florida                                                                 | CUSIP: 34153QDF0<br>LEI: 5493004G5XFOOUT0LQ57 | Long             | DBT              | MUN               | US        |    215000 | PA      | $213967.87    | 0.33%             | 2036-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| JACKSON CNTY MN                | County of Jackson MN                                                             | CUSIP: 467160RK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $15392.09     | 0.02%             | 2036-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KNOXVILLE TN ELEC REVENUE      | City of Knoxville TN Electric System Revenue                                     | CUSIP: 499746XY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100006.64    | 0.16%             | 2028-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| LAKESHORE WI TECH CLG DIST     | Lakeshore Technical College District                                             | CUSIP: 51209EPH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $40349.89     | 0.06%             | 2026-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MOUNT PROSPECT IL              | Village of Mount Prospect IL                                                     | CUSIP: 622826WY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30028.07     | 0.05%             | 2037-12-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE ST               | State of New Hampshire                                                           | CUSIP: 64468FBS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $130771.48    | 0.20%             | 2037-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N CHARLESTON SC                | City of North Charleston SC                                                      | CUSIP: 658553EY4<br>LEI: 549300Y9QXZ4L5X8SP87 | Long             | DBT              | MUN               | US        |     20000 | PA      | $20001.82     | 0.03%             | 2027-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| O'FALLON IL                    | City of O'Fallon IL                                                              | CUSIP: 676176KA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    190000 | PA      | $190364.21    | 0.30%             | 2034-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| PLEASANTON TX                  | City of Pleasanton TX                                                            | CUSIP: 728857TH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $178693.45    | 0.28%             | 2039-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ANCHOR BAY MI SCH DIST         | Anchor Bay School District                                                       | CUSIP: 032879YZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    255000 | PA      | $258013.62    | 0.40%             | 2043-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ANDERSON-SHIRO TX CONSOL INDEP | Anderson-Shiro Consolidated Independent School District                          | CUSIP: 034078KW4<br>LEI: 549300012DSY6BNSYC22 | Long             | DBT              | MUN               | US        |    370000 | PA      | $367705.08    | 0.57%             | 2032-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| AURORA IL                      | City of Aurora IL                                                                | CUSIP: 051645N21<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $445052.69    | 0.69%             | 2035-12-30      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BASALT & RURAL FIRE PROT DIST  | Basalt & Rural Fire Protection District                                          | CUSIP: 069745CD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $50757.98     | 0.08%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BEAVER DAM WI                  | City of Beaver Dam WI                                                            | CUSIP: 075131SK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100042.59    | 0.16%             | 2026-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BENTON IN SCH IMPT BLDG CORP   | Benton School Improvement Building Corp                                          | CUSIP: 083209DC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     80000 | PA      | $86783.24     | 0.13%             | 2029-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BENTON IN SCH IMPT BLDG CORP   | Benton School Improvement Building Corp                                          | CUSIP: 083209DD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     80000 | PA      | $87442.48     | 0.14%             | 2030-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BIG SPRING PA SCH DIST         | Big Spring School District                                                       | CUSIP: 089543GQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100035.32    | 0.16%             | 2028-02-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY WA FIRE PROT DIST # | Clark County Fire Protection District No 6                                       | CUSIP: 18109TAL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50734.65     | 0.08%             | 2027-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CROWLEY TX                     | City of Crowley TX                                                               | CUSIP: 228111VT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $48730.57     | 0.08%             | 2037-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA               | District of Columbia                                                             | CUSIP: 25476FZB7<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    100000 | PA      | $108356.28    | 0.17%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ELKHART IN CMNTY SCHS BLDG COR | Elkhart Community Schools Building Corp                                          | CUSIP: 287497H46<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $34725.90     | 0.05%             | 2038-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| FARMINGTON AR SCH DIST #6      | Farmington School District No 6                                                  | CUSIP: 311142XL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $70009.45     | 0.11%             | 2029-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST BRD OF EDU PUBLIC E | State of Florida                                                                 | CUSIP: 34153QVT0<br>LEI: 5493004G5XFOOUT0LQ57 | Long             | DBT              | MUN               | US        |    100000 | PA      | $109403.84    | 0.17%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GALT CA JT UNION ELEM SCH DIST | Galt Joint Union Elementary School District                                      | CUSIP: 364116BD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5007.12      | 0.01%             | 2032-08-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| GUILFORD CNTY NC               | County of Guilford NC                                                            | CUSIP: 401784B51<br>LEI: 549300OUKUGQGH8RCL96 | Long             | DBT              | MUN               | US        |     25000 | PA      | $25030.00     | 0.04%             | 2027-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| HARRISBURG SD INDEP SCH DIST # | Harrisburg School District No 41-2                                               | CUSIP: 414834VC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $15893.30     | 0.02%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KANSAS ST DEV FIN AUTH REVENUE | Kansas Development Finance Authority                                             | CUSIP: 48542RQA5<br>LEI: 549300WTL7BL8KBDPR87 | Long             | DBT              | MUN               | US        |     50000 | PA      | $54421.38     | 0.08%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KNOXVILLE TN ELEC REVENUE      | City of Knoxville TN Electric System Revenue                                     | CUSIP: 499746J89<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $111895.76    | 0.17%             | 2036-07-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| LA PORTE TX INDEP SCH DIST     | La Porte Independent School District/TX                                          | CUSIP: 504102H98<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50005.77     | 0.08%             | 2028-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA ST LOCAL GOVT ENVRNM | Louisiana Local Government Environmental Facilities & Community Development Auth | CUSIP: 54628CKA9<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |     10000 | PA      | $10234.75     | 0.02%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW ORLEANS LA WTR REVENUE     | City of New Orleans LA Water System Revenue                                      | CUSIP: 647753LT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    640000 | PA      | $642409.09    | 1.00%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL  | New York City Transitional Finance Authority Future Tax Secured Revenue          | CUSIP: 64971XKN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $24611.38     | 0.04%             | 2040-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OWEN CNTY KY SCH DIST FIN CORP | Owen County School District Finance Corp                                         | CUSIP: 690689JP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $227751.54    | 0.35%             | 2037-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| PARCHMENT MI SCH DIST          | Parchment School District                                                        | CUSIP: 699398GB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $220012.50    | 0.34%             | 2036-05-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| PERRY CNTY KY SCH DIST FIN COR | Perry County School District Finance Corp                                        | CUSIP: 714559QZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $40033.42     | 0.06%             | 2029-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PLANO TX                       | City of Plano TX                                                                 | CUSIP: 727177WF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $199114.60    | 0.31%             | 2032-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTH OF NEW YORK & NEW JE | Port Authority of New York & New Jersey                                          | CUSIP: 73358WYY4<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |     50000 | PA      | $50043.44     | 0.08%             | 2027-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RANKIN TX INDEP SCH DIST       | Rankin Independent School District                                               | CUSIP: 753177DJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    755000 | PA      | $792223.31    | 1.23%             | 2032-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND INFRASTRUCTURE BA | Rhode Island Infrastructure Bank                                                 | CUSIP: 76222FCP1<br>LEI: 54930022Z6KOPRSQCG49 | Long             | DBT              | MUN               | US        |    175000 | PA      | $193131.94    | 0.30%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT JOHN THE BAPTIST PARISHL | St John the Baptist Parish School District No 1                                  | CUSIP: 790229SE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50014.26     | 0.08%             | 2033-03-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| SANTA MONICA-MALIBU CA UNIF SC | Santa Monica-Malibu Unified School District                                      | CUSIP: 802498XH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $15035.51     | 0.02%             | 2041-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARS PA AREA SCH DIST          | Mars Area School District                                                        | CUSIP: 571720SX0<br>LEI: 549300UINQBC7HS64443 | Long             | DBT              | MUN               | US        |    185000 | PA      | $179763.17    | 0.28%             | 2038-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MCKINNEY TX                    | City of McKinney TX                                                              | CUSIP: 58178CKU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $22819.13     | 0.04%             | 2035-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MEMPHIS TN                     | City of Memphis TN                                                               | CUSIP: 586145Z23<br>LEI: 254900N4APYJWTAF5J46 | Long             | DBT              | MUN               | US        |     15000 | PA      | $16865.01     | 0.03%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALPENA MI                      | City of Alpena MI                                                                | CUSIP: 020609EH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $304974.42    | 0.47%             | 2040-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHANHASSEN MN                  | City of Chanhassen MN                                                            | CUSIP: 159106FB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $10032.24     | 0.02%             | 2028-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| COLUMBUS OH CITY SCH DIST      | Columbus City School District                                                    | CUSIP: 1995075K6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     55000 | PA      | $55111.80     | 0.09%             | 2038-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST SPL TAX OBLIG R | State of Connecticut Special Tax Revenue                                         | CUSIP: 207758XH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $105650.53    | 0.16%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CULLMAN AL                     | City of Cullman AL                                                               | CUSIP: 230039VC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20442.59     | 0.03%             | 2035-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GLENCOE/SILVER LAKE MN INDEP S | Glencoe-Silver Lake Independent School District No 2859                          | CUSIP: 378267BU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50010.63     | 0.08%             | 2037-02-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| GREENVILLE NC COMB ENTERPRISE  | Greenville Utilities Commission                                                  | CUSIP: 396290CL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $25313.96     | 0.04%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREER SC COMB UTILITY SYS      | Commission of Public Works City of Greer                                         | CUSIP: 397478GR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $28205.30     | 0.04%             | 2036-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARTFORD WI JT SCH DIST #1     | Hartford Joint School District No 1                                              | CUSIP: 416791GP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     90000 | PA      | $94335.20     | 0.15%             | 2036-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST SCH BLDG AUTH | Massachusetts School Building Authority                                          | CUSIP: 576000YJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $45052.84     | 0.07%             | 2037-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MEADVILLE MO REORG SCH DIST #R | Meadville Reorganized School District No R-4 Linn                                | CUSIP: 583247CZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $51498.20     | 0.08%             | 2037-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MEMPHIS MI CMNTY SCHS          | Memphis Community Schools                                                        | CUSIP: 586073JQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $116805.99    | 0.18%             | 2036-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MOORESTOWN TWP NJ SCH DIST     | Moorestown Township School District                                              | CUSIP: 616021NP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $15024.99     | 0.02%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL  | New York City Transitional Finance Authority Future Tax Secured Revenue          | CUSIP: 64971X2B3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $106535.56    | 0.17%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL  | New York City Transitional Finance Authority Future Tax Secured Revenue          | CUSIP: 64971XSF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $109422.41    | 0.17%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST                        | State of Ohio                                                                    | CUSIP: 6775226F6<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |    250000 | PA      | $265769.90    | 0.41%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PASSAIC CNTY NJ UTILITIES AUTH | Passaic County Utilities Authority                                               | CUSIP: 702766FB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $125023.99    | 0.19%             | 2030-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PLYMOUTH-CANTON MI CMNTY SCH D | Plymouth-Canton Community School District                                        | CUSIP: 729429NM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     85000 | PA      | $85229.53     | 0.13%             | 2028-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| REEDY CREEK FL IMPT DIST       | Central Florida Tourism Oversight District                                       | CUSIP: 758449QN5<br>LEI: 549300DLSKH6SZ96KV94 | Long             | DBT              | MUN               | US        |    150000 | PA      | $152082.17    | 0.24%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALINE CNTY KS KS UNIF SCH DIS | Saline Dickinson & McPherson Counties Unified School District No 306             | CUSIP: 79516JAJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     65000 | PA      | $64999.80     | 0.10%             | 2027-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TX RIVER AUTH WSTW | San Antonio River Authority Wastewater System Revenue                            | CUSIP: 796352DK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $52377.83     | 0.08%             | 2031-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SHELBY CNTY AL                 | County of Shelby AL                                                              | CUSIP: 821515GA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     80000 | PA      | $79975.63     | 0.12%             | 2037-08-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| S E POLK IA CMNTY SCH DIST     | Southeast Polk Community School District                                         | CUSIP: 841484MC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $11078.75     | 0.02%             | 2032-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SPARTA WI                      | City of Sparta WI                                                                | CUSIP: 846748KK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $28616.30     | 0.04%             | 2034-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SPOTSYLVANIA CNTY VA           | County of Spotsylvania VA                                                        | CUSIP: 849254G27<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1059139.80   | 1.64%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SPRING HILL KS                 | City of Spring Hill KS                                                           | CUSIP: 849658TK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $21171.29     | 0.03%             | 2031-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST                    | Commonwealth of Virginia                                                         | CUSIP: 928109X93<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    905000 | PA      | $964818.33    | 1.50%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WILKINSBURG BORO PA SCH DIST   | Wilkinsburg School District                                                      | CUSIP: 968495FK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $40003.05     | 0.06%             | 2029-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-25

**Name of Applicant:** RMB Investors Trust

**Signature:** /s/ Maher Harb

**Name of Signer:** RMB Investors Trust

**Title:** Chief Financial Officer