# EDGAR Filing Document

**Accession Number:** 0000784056
**File Stem:** 0001752724-23-042968
**Filing Date:** 2023-2
**Character Count:** 192958
**Document Hash:** d176a790c5d94659a409793af40343b9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-042968.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001752724-23-042968

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221230

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**PERIOD START**: 20230331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AQUILA MUNICIPAL TRUST
- **CENTRAL INDEX KEY:** 0000784056
- **IRS NUMBER:** 136864349
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04503
- **FILM NUMBER:** 23673874

**BUSINESS ADDRESS:**
- **STREET 1:** 120 WEST 45TH STREET
- **STREET 2:** STE 3600
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036
- **BUSINESS PHONE:** 2126976666

**MAIL ADDRESS:**
- **STREET 1:** 120 WEST 45TH STREET
- **STREET 2:** SUITE 3600
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TAX-FREE TRUST OF ARIZONA
- **DATE OF NAME CHANGE:** 20060126

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TAX FREE TRUST OF ARIZONA
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Aquila Tax-Free Fund For Utah (Series ID: S000041643)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000129283 | Class A      | UTAHX           |
| C000129284 | Class C      | UTACX           |
| C000129286 | Class Y      | UTAYX           |
| C000188818 | Class F      | UTAFX           |

## Nport-Ex

**AQUILA TAX-FREE FUND FOR UTAH**

SCHEDULE OF INVESTMENTS

**December 31, 2022**

(unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Amount** | **General Obligation Bonds (9.8%)** | **Ratings<br> Moody's, S&P<br> and Fitch** | **Value** | **(a)** |
|  | City and County (3.3%) |  |  |  |
|  | Brownsville, Texas Combination Tax |  |  |  |
| $500000 | 5.000%, 02/15/26 Series 2022 | Aa3/AA/NR | $532400 |  |
|  | Carson City, Nevada |  |  |  |
| 1000000 | 5.000%, 05/01/28 | Aa3/AA/NR | 1050330 |  |
|  | Clark County, Nevada, Refunding |  |  |  |
| 1000000 | 4.000%, 06/01/37 Series 2019 | Aa1/AA+/NR | 1002140 |  |
| 1000000 | 3.000%, 06/01/38 Series 2019 | Aa1/AA+/NR | 877190 |  |
|  | Mission, Texas Combination Tax & Revenue <br> Certificates of Obligation |  |  |  |
| 300000 | 4.000%, 02/15/32 Series 2021 BAMI Insured | NR/AA/NR | 319035 |  |
|  | North Las Vegas, Nevada Limited Tax |  |  |  |
| 1000000 | 5.000%, 06/01/31 Series 2018 AGMC Insured | A1/AA/NR | 1107780 |  |
|  | Port of Olympia, Washington Limited Tax |  |  |  |
| 1385000 | 5.000%, 12/01/31 AMT Series B | Aa2/NR/NR | 1515010 |  |
|  | Port of Vancouver, Washington Limited Tax |  |  |  |
| 555000 | 5.000%, 12/01/33 AMT Series 2022A | Aa2/NR/NR | 609734 |  |
|  | Reno, Nevada Capital Improvement Refunding |  |  |  |
| 1000000 | 5.000%, 06/01/28 | A1/AA-/NR | 1006840 |  |
|  | Rio Grande City, Texas Combination Tax Certificates of Obligation |  |  |  |
| 855000 | 4.000%, 02/15/33 Series 2020 AGMC Insured | NR/AA/NR | 894800 |  |
|  | Washoe County, Nevada Limited Tax |  |  |  |
| 1500000 | 4.000%, 07/01/32 Series 2021 | Aa2/AA/NR | 1623780 |  |
|  | West University Place City, Texas Certificates of Obligation |  |  |  |
| 535000 | 5.000%, 02/01/26 Series 2022 | NR/AAA/NR | 571546 |  |
|  | Total City and County |  | 11110585 |  |
|  | Healthcare (0.3%) |  |  |  |
|  | King County, Washington Public Hospital District No. 001, Refunding, Valley Medical Center |  |  |  |
| 1000000 | 5.000%, 12/01/28 | A2/NR/NR | 1110060 |  |
|  | Public Schools (4.7%) |  |  |  |
|  | Alvin, Texas Independent School District |  |  |  |
| 140000 | 4.000%, 02/15/34 PSF Guaranteed | Aaa/NR/AAA | 144082 |  |
|  | Bushland, Texas Independent School District Unlimited Tax |  |  |  |
| 900000 | 5.000%, 02/15/29 Series 2022 | NR/AAA/NR | 1016631 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Amount** | **General Obligation Bonds (continued)** | **Ratings<br> Moody's, S&P<br> and Fitch** | **Value** | **(a)** |
|  | Public Schools (continued) |  |  |  |
|  | Canyons School District Utah (School Board Guaranty Program) |  |  |  |
| $1000000 | 5.000%, 06/15/31 Series 2022 | Aaa/NR/AAA | $1172060 |  |
|  | Clark County, Nevada School District Limited Tax |  |  |  |
| 1000000 | 5.000%, 06/15/35 Series B | A1/A+/NR | 1091120 |  |
| 1500000 | 3.000%, 06/15/37 Series B AGMC Insured | A1/AA/NR | 1267710 |  |
| 1645000 | 5.000%, 06/15/28 Series D | A1/A+/NR | 1745082 |  |
| 2000000 | 4.000%, 06/15/30 Series D | A1/A+/NR | 2063640 |  |
|  | Deuel, South Dakota School District 19-4 Limited Tax COP |  |  |  |
| 875000 | 2.000%, 08/01/29 Series 2022 | NR/AA+/NR | 787990 |  |
|  | Grant County, Washington School District No. 161 Moses Lake (School Board Guaranty Program) |  |  |  |
| 400000 | 4.000%, 12/01/35 | Aaa/NR/NR | 414588 |  |
|  | Lewis County, Washington School District No. 302 Chehalis (School Board Guaranty Program) |  |  |  |
| 1000000 | 5.000%, 12/01/34 | Aaa/NR/NR | 1043440 |  |
|  | Lewis & Thurston Counties, Washington School District No. 401 Centalia (School Board Guaranty Program) |  |  |  |
| 1230000 | 5.000%, 12/01/35 | Aaa/NR/NR | 1313702 |  |
|  | Minnehaha County, South Dakota COP Limited Tax |  |  |  |
| 400000 | 3.000%, 12/01/29 Series 2022A | Aa1/NR/NR | 394748 |  |
|  | Port Arthur, Texas Independent School District Unlimited Tax |  |  |  |
| 1000000 | 4.000%, 02/15/35 Series 2021 AGMC Insured | NR/AA/A+ | 1046490 |  |
|  | Washoe County, Nevada School District Limited Tax Improvement |  |  |  |
| 1000000 | 4.000%, 10/01/34 Series 2020A | Aa3/AA/NR | 1038940 |  |
|  | Weatherford, Texas Independent School District Unlimited Tax Refunding |  |  |  |
| 365000 | zero coupon, 02/15/23 Series 2019 PSF Guaranteed | Aaa/NR/NR | 363701 |  |
| 530000 | zero coupon, 02/15/28 Series 2019 PSF Guaranteed | Aaa/NR/NR | 451417 |  |
|  | Wink-Loving, Texas Independent School District Unlimited Tax |  |  |  |
| 300000 | 5.000%, 02/15/25 Series 2022 PSF Guaranteed | Aaa/NR/NR | 300666 |  |
|  | Total Public Schools |  | 15656007 |  |
|  | State (1.3%) |  |  |  |
|  | Texas State Transportation Commission Mobility Fund |  |  |  |
| 1000000 | 5.000%, 10/01/31 Series 2015A | Aaa/AAA/AAA | 1058760 |  |
|  | Texas State Water Financial Assistance |  |  |  |
| 1000000 | 5.000%, 08/01/30 Series E | Aaa/AAA/AAA | 1056560 |  |
|  | Utah State |  |  |  |
| 1000000 | 5.000%, 07/01/28 | Aaa/AAA/AAA | 1102940 |  |
| 1000000 | 5.000%, 07/01/29 | Aaa/AAA/AAA | 1102050 |  |
|  | Total State |  | 4320310 |  |
|  | Water and Sewer (0.2%) |  |  |  |
|  | Central Utah Water Conservancy District Limited Tax |  |  |  |
| 700000 | 5.000%, 04/01/34 Series 2022A | NR/AA+/AA+ | 834204 |  |
|  | Total General Obligation Bonds |  | 33031166 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Amount** | **Revenue Bonds (85.0%)** | **Ratings<br> Moody's, S&P<br> and Fitch** | **Value** | **(a)** |
|  | Airport (6.7%) |  |  |  |
|  | Brownsville, Texas Combination Tax and Airport, Certificates of Obligation |  |  |  |
| $500000 | 5.000%, 02/15/28 AMT Series 2018 | Aa3/AA/NR | $532215 |  |
|  | Broward County, Florida Port Facilities |  |  |  |
| 1000000 | 4.000%, 09/01/38 AMT Series B | A1/A/NR | 975440 |  |
|  | Clark County, Nevada Airport System Junior Subordinate Lien |  |  |  |
| 745000 | 5.000%, 07/01/26 AMT Series 2021 B | A1/NR/A+ | 784105 |  |
|  | Greater Orlando, Florida Aviation Authority Airport Facilities |  |  |  |
| 675000 | 5.000%, 10/01/31 AMT Series 2022A | Aa3/AA-/AA- | 740050 |  |
|  | Hillsborough County, Florida Aviation Authority Airport, Tampa International Airport |  |  |  |
| 1500000 | 5.000%, 10/01/28 AMT Series 2022A | Aa3/NR/AA- | 1608375 |  |
|  | Houston, Texas Airport System Subordinate Lien Refunding |  |  |  |
| 1000000 | 5.000%, 07/01/29 AMT Series C | A1/NR/A+ | 1064080 |  |
|  | Metropolitan Washington District of Columbia Airport Authority System, Revenue Refunding |  |  |  |
| 1000000 | 5.000%, 10/01/38 AMT Series 2019A | Aa3/AA-/AA- | 1045350 |  |
|  | Miami-Dade County, Florida Aviation Revenue Refunding |  |  |  |
| 1000000 | 5.000%, 10/01/34 AMT Series 2014A | A1/A/A | 1010910 |  |
|  | Salt Lake City, Utah Airport Revenue, Salt Lake City International Airport |  |  |  |
| 1000000 | 5.000%, 07/01/26 AMT Series A | A2/A/NR | 1050470 |  |
| 640000 | 5.000%, 07/01/27 AMT Series A | A2/A/NR | 679328 |  |
| 1000000 | 5.000%, 07/01/27 AMT Series A | A2/A/NR | 1061020 |  |
| 1000000 | 5.000%, 07/01/28 AMT Series A | A2/A/NR | 1069490 |  |
| 1000000 | 5.000%, 07/01/29 AMT Series A | A2/A/NR | 1063560 |  |
| 1000000 | 5.000%, 07/01/29 AMT Series A | A2/A/NR | 1073820 |  |
| 3100000 | 5.000%, 07/01/30 AMT Series A | A2/A/NR | 3263184 |  |
| 1000000 | 5.000%, 07/01/47 AMT Series A | A2/A/NR | 1005420 |  |
| 1240000 | 5.000%, 07/01/30 Series B | A2/A/NR | 1342585 |  |
| 850000 | 5.000%, 07/01/31 Series B | A2/A/NR | 917635 |  |
| 500000 | 5.000%, 07/01/31 Series B | A2/A/NR | 547920 |  |
| 1525000 | 5.000%, 07/01/37 Series B | A2/A/NR | 1599176 |  |
|  | Total Airport |  | 22434133 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Amount** | **Revenue Bonds (continued)** | **Ratings<br> Moody's, S&P<br> and Fitch** | **Value** | **(a)** |
|  | Charter Schools (10.1%) |  |  |  |
|  | Utah State Charter School Finance Authority Entheos Academy (School Board Guaranty Program) |  |  |  |
| $1375000 | 4.000%, 10/15/30 Series 2020A | Aa2/NR/NR | $1395336 |  |
|  | Utah State Charter School Finance Authority George Washington Academy |  |  |  |
| 1500000 | 5.000%, 04/15/35 Series 2015 | NR/AA/NR | 1519200 |  |
|  | Utah State Charter School Finance Authority Good Foundations Academy |  |  |  |
| 235000 | 4.750%, 11/15/24 Series A 144A | NR/NR/NR\* | 233583 |  |
| 1655000 | 5.550%, 11/15/34 Series A 144A | NR/NR/NR\* | 1655281 |  |
| 3280000 | 5.850%, 11/15/44 Series A 144A | NR/NR/NR\* | 3280262 |  |
|  | Utah State Charter School Finance Authority Lakeview Academy |  |  |  |
| 1300000 | 5.000%, 10/15/35 Series 2015 | NR/AA/NR | 1336738 |  |
|  | Utah State Charter School Finance Authority Legacy Preparatory Academy |  |  |  |
| 300000 | 4.000%, 04/15/24 | NR/AA/NR | 302298 |  |
| 1710000 | 5.000%, 04/15/29 | NR/AA/NR | 1755059 |  |
| 1000000 | 4.000%, 04/15/32 Series 2022 | NR/AA/NR | 1021080 |  |
| 1000000 | 4.000%, 04/15/37 Series 2022 | NR/AA/NR | 960810 |  |
|  | Utah State Charter School Finance Authority Monticello Academy (School Board Guaranty Program) |  |  |  |
| 1000000 | 5.000%, 04/15/37 Series 2014 | NR/AA/NR | 1016790 |  |
|  | Utah State Charter School Finance Authority Ogden Preparatory Academy (School Board Guaranty Program) |  |  |  |
| 150000 | 4.000%, 10/15/23 | NR/AA/NR | 150057 |  |
| 260000 | 4.000%, 10/15/24 | NR/AA/NR | 260083 |  |
|  | Utah State Charter School Finance Authority Providence Hall |  |  |  |
| 1000000 | 4.000%, 10/15/46 Series 2021A | Aa2/NR/NR | 880790 |  |
|  | Utah State Charter School Finance Authority Quest Academy |  |  |  |
| 500000 | 5.000%, 04/15/37 | NR/AA/NR | 512550 |  |
|  | Utah State Charter School Finance Authority Salt Lake Arts Academy (School Board Guaranty Program) |  |  |  |
| 1000000 | 3.000%, 04/15/40 Series 2020A | NR/AA/NR | 796690 |  |
|  | Utah State Charter School Finance Authority Spectrum Academy |  |  |  |
| 625000 | 4.000%, 04/15/33 Series 2020 | Aa2/NR/NR | 624300 |  |
| 655000 | 4.000%, 04/15/34 Series 2020 | Aa2/NR/NR | 649983 |  |
|  | Utah State Charter School Finance Authority Utah Charter Academies |  |  |  |
| 500000 | 5.000%, 10/15/25 Series 2018 | NR/AA/NR | 522850 |  |
| 500000 | 5.000%, 10/15/27 Series 2018 | NR/AA/NR | 535200 |  |
| 475000 | 5.000%, 10/15/28 Series 2018 | NR/AA/NR | 507272 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Amount** | **Revenue Bonds (continued)** | **Ratings<br> Moody's, S&P<br> and Fitch** | **Value** | **(a)** |
|  | Charter Schools (continued) |  |  |  |
|  | Utah State Charter School Finance Authority Venture Academy |  |  |  |
| $285000 | 4.000%, 10/15/24 | NR/AA/NR | $287494 |  |
| 855000 | 5.000%, 10/15/29 | NR/AA/NR | 877914 |  |
| 1095000 | 5.000%, 10/15/34 | NR/AA/NR | 1118050 |  |
| 1095000 | 5.000%, 10/15/38 | NR/AA/NR | 1111896 |  |
|  | Utah State Charter School Finance Authority Vista School |  |  |  |
| 1080000 | 4.000%, 10/15/35 | Aa2/NR/NR | 1057169 |  |
|  | Utah State Charter School Finance Authority Voyage Academy |  |  |  |
| 820000 | 5.000%, 03/15/27 144A | NR/NR/NR\* | 820041 |  |
| 2440000 | 5.500%, 03/15/37 144A | NR/NR/NR\* | 2440024 |  |
| 4785000 | 5.600%, 03/15/47 144A | NR/NR/NR\* | 4691405 |  |
|  | Utah State Charter School Finance Authority Wasatch Peak Academy Project (School Board Guaranty Program) |  |  |  |
| 740000 | 5.000%, 10/15/29 | NR/AA/NR | 743626 |  |
| 700000 | 5.000%, 10/15/36 | NR/AA/NR | 702870 |  |
|  | Total Charter Schools |  | 33766701 |  |
|  | Electric (5.3%) |  |  |  |
|  | Consolidated Wyoming Municipalities Electric Facilities Improvement Lease, Gillette |  |  |  |
| 1000000 | 5.000%, 06/01/31 | A1/AA-/NR | 1026100 |  |
| 250000 | 5.250%, 06/01/37 | NR/AA-/NR | 280303 |  |
|  | Heber Light & Power Co., Utah Electric Revenue Refunding |  |  |  |
| 500000 | 4.000%, 12/15/36 Series 2019 AGMC Insured | A1/AA/AA- | 513045 |  |
| 645000 | 4.000%, 12/15/38 Series 2019 AGMC Insured | A1/AA/AA- | 650276 |  |
|  | Intermountain Power Agency, Utah Power Supply Revenue |  |  |  |
| 250000 | 5.000%, 07/01/30 | Aa3/NR/AA- | 288460 |  |
| 375000 | 5.000%, 07/01/33 | Aa3/NR/AA- | 435615 |  |
| 375000 | 5.000%, 07/01/35 | Aa3/NR/AA- | 427144 |  |
|  | Lehi, Utah Electric Utility Revenue |  |  |  |
| 520000 | 5.000%, 06/01/29 | NR/A+/NR | 576779 |  |
| 850000 | 5.000%, 06/01/31 | NR/A+/NR | 941613 |  |
|  | Lower Colorado River Authority, Texas Transmission Contract Revenue |  |  |  |
| 1000000 | 5.000%, 05/15/30 | NR/A/A+ | 1045140 |  |
|  | San Antonio, Texas Electric & Gas Revenue System |  |  |  |
| 1250000 | 4.000%, 02/01/33 | Aa2/AA-/AA- | 1284263 |  |
|  | Southeast Alaska Power Agency Electric Refunding & Improvement |  |  |  |
| 1170000 | 5.250%, 06/01/30 | NR/A/NR | 1215419 |  |
|  | St. George, Utah Electric Revenue |  |  |  |
| 1620000 | 4.000%, 06/01/32 AGMC Insured | A1/AA/NR | 1675129 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Amount** | **Revenue Bonds (continued)** | **Ratings<br> Moody's, S&P<br> and Fitch** | **Value** | **(a)** |
|  | Electric (continued) |  |  |  |
|  | Utah Associated Municipal Power System Revenue, Horse Butte Wind Project |  |  |  |
| $750000 | 5.000%, 09/01/24 Series A | NR/A-/AA- | $775688 |  |
| 445000 | 5.000%, 09/01/25 Series A | NR/A-/AA- | 469729 |  |
| 375000 | 5.000%, 09/01/30 Series 2017B | NR/A-/AA- | 411191 |  |
|  | Utah Associated Municipal Power System Revenue, Veyo Heat Recovery Project |  |  |  |
| 795000 | 5.000%, 03/01/30 | NR/A/AA- | 823556 |  |
| 905000 | 5.000%, 03/01/32 | NR/A/AA- | 935218 |  |
| 745000 | 5.000%, 03/01/34 | NR/A/AA- | 769876 |  |
|  | Utah State Municipal Power Agency Power Supply System Revenue |  |  |  |
| 330000 | 5.000%, 07/01/23 | NR/A+/AA- | 333175 |  |
| 2900000 | 5.000%, 07/01/38 Series B | NR/A+/AA- | 3059065 |  |
|  | Total Electric |  | 17936784 |  |
|  | Healthcare (1.7%) |  |  |  |
|  | Hale Center, Texas Educational Facilities Corporation, Wayland Baptist University |  |  |  |
| 700000 | 5.000%, 03/01/29 Series 2022 | NR/BBB+/NR | 734832 |  |
|  | Miami-Dade County, Florida Public Facilities, Jackson Health System |  |  |  |
| 1000000 | 5.000%, 06/01/29 Series A | Aa3/A+/AA- | 1041160 |  |
|  | Washington State Health Care Facilities Authority, Providence St. Joseph Health |  |  |  |
| 4000000 | 5.000%, 10/01/42 Series 2012A | A1/A+/A+ | 3974440 |  |
|  | Total Healthcare |  | 5750432 |  |
|  | Higher Education (8.1%) |  |  |  |
|  | Salt Lake County, Utah Westminster College Project |  |  |  |
| 1970000 | 5.000%, 10/01/25 | NR/BBB-/NR | 2020176 |  |
| 955000 | 5.000%, 10/01/28 | NR/BBB-/NR | 978207 |  |
| 1845000 | 5.000%, 10/01/29 | NR/BBB-/NR | 1907638 |  |
| 1005000 | 5.000%, 10/01/29 | NR/BBB-/NR | 1028195 |  |
| 1055000 | 5.000%, 10/01/30 | NR/BBB-/NR | 1078294 |  |
|  | South Dakota Board of Regents, Housing & Auxiliary Facilities System |  |  |  |
| 500000 | 5.000%, 04/01/28 | A1/NR/NR | 536135 |  |
|  | University of South Florida Financing Corp., Florida COP Refunding Master Lease Program |  |  |  |
| 1000000 | 5.000%, 07/01/31 Series A | A1/A+/NR | 1050390 |  |
|  | Utah State Board of Higher Education, University of Utah Green Bond |  |  |  |
| 1000000 | 5.000%, 08/01/39 Series 2022B | Aa1/AA+/NR | 1122320 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Amount** | **Revenue Bonds (continued)** | **Ratings<br> Moody's, S&P<br> and Fitch** | **Value** | **(a)** |
|  | Higher Education (continued) |  |  |  |
|  | Utah State Board of Regents, Dixie State University |  |  |  |
| $1800000 | 5.000%, 06/01/30 AGMC Insured | NR/AA/NR | $1878624 |  |
| 660000 | 5.000%, 06/01/35 Series B AGMC Insured | NR/AA/NR | 712866 |  |
| 690000 | 5.000%, 06/01/36 Series B AGMC Insured | NR/AA/NR | 742454 |  |
| 1375000 | 3.000%, 06/01/36 Series 2019 | NR/AA/NR | 1219653 |  |
|  | Utah State Board of Regents Lease Revenue |  |  |  |
| 120000 | 4.650%, 05/01/23 AMBAC Insured | NR/AA/NR | 120134 |  |
|  | Utah State Board of Regents, Student Building Fee, Salt Lake Community College |  |  |  |
| 1295000 | 5.000%, 03/01/26 Series 2018 | NR/AA/NR | 1355023 |  |
| 1000000 | 5.000%, 03/01/27 Series 2018 | NR/AA/NR | 1044860 |  |
|  | Utah State Board of Regents, Student Facilities System Revenue, Weber State University |  |  |  |
| 750000 | 5.000%, 04/01/29 AGMC Insured | NR/AA/NR | 830363 |  |
| 200000 | 5.000%, 04/01/30 AGMC Insured | NR/AA/NR | 223710 |  |
| 1000000 | 3.000%, 04/01/35 Series 2021 BAMAC Insured | NR/AA/NR | 917690 |  |
|  | Utah State Board of Regents, University of Utah |  |  |  |
| 500000 | 5.000%, 08/01/29 Series A | Aa1/AA+/NR | 549835 |  |
| 480000 | 5.000%, 08/01/33 Series A | Aa1/AA+/NR | 503602 |  |
| 600000 | 5.000%, 08/01/35 Series A | Aa1/AA+/NR | 627528 |  |
| 500000 | 4.000%, 08/01/36 Series A | Aa1/AA+/NR | 505825 |  |
| 1000000 | 5.000%, 08/01/35 Series B-1 | Aa1/AA+/NR | 1068920 |  |
| 1500000 | 5.000%, 08/01/36 Series B-1 | Aa1/AA+/NR | 1599180 |  |
|  | Utah State Board of Regents, Utah State University |  |  |  |
| 1105000 | 4.000%, 12/01/30 Series B | NR/AA/NR | 1134426 |  |
| 2055000 | 3.000%, 12/01/36 Series B | NR/AA/NR | 1825559 |  |
|  | Washington State Higher Education Facilities Authority Revenue, Whitman College Project |  |  |  |
| 645000 | 5.000%, 01/01/32 | Aa3/NR/NR | 682210 |  |
|  | Total Higher Education |  | 27263817 |  |
|  | Housing (1.9%) |  |  |  |
|  | King County, Washington Housing Authority Pooled Refunding |  |  |  |
| 910000 | 4.000%, 11/01/36 Series 2019 | NR/AAA/NR | 926280 |  |
| 500000 | 4.000%, 06/01/35 Series 2020 | NR/AA/NR | 499315 |  |
|  | South Dakota Housing Development Authority <br> Homeownership Mortgage |  |  |  |
| 250000 | 1.000%, 05/01/26 Series 2020C | Aaa/AAA/NR | 230598 |  |
| 500000 | 1.350%, 05/01/28 Series 2020C | Aaa/AAA/NR | 450365 |  |
| 500000 | 1.400%, 11/01/28 Series 2020C | Aaa/AAA/NR | 447420 |  |
|  | Utah Housing Corporation Single Family Mortgage |  |  |  |
| 5000 | 4.950%, 01/01/32 Series A Class II | Aa2/AA+/AA | 5004 |  |
| 10000 | 4.500%, 01/01/24 Series A Class III | Aa3/AA/AA | 10003 |  |
| 640000 | 4.600%, 07/01/34 Series B-1 Class I | Aaa/AAA/AAA | 640371 |  |
| 25000 | 4.625%, 07/01/32 Series B-1 Class II | Aa2/AA+/AA | 25018 |  |
| 5000 | 4.500%, 07/01/23 Series C | Aa3/AA/AA | 5000 |  |
| 1930000 | 3.850%, 01/01/31 AMT Series D Class III FHA Insured | Aa3/AA-/AA | 1894623 |  |
| 480000 | 4.000%, 01/01/36 Series D FHA Insured | Aa3/AA-/AA | 475454 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Amount** | **Revenue Bonds (continued)** | **Ratings<br> Moody's, S&P<br> and Fitch** | **Value** | **(a)** |
|  | Housing (continued) |  |  |  |
|  | Vancouver, Washington Housing Authority, Anthem Park and Columbia House Projects |  |  |  |
| $500000 | 4.000%, 06/01/35 Series 2020 | NR/AA/NR | $499315 |  |
| 500000 | 3.000%, 06/01/38 Series 2020 | NR/AA/NR | 423810 |  |
|  | Total Housing |  | 6532576 |  |
|  | Local Public Property (18.1%) |  |  |  |
|  | Alaska State Municipal Bond Bank |  |  |  |
| 540000 | 5.000%, 02/01/30 AMT | NR/A+/A | 573113 |  |
| 565000 | 5.000%, 02/01/31 AMT | NR/A+/A | 596742 |  |
| 590000 | 5.000%, 02/01/32 AMT | NR/A+/A | 622049 |  |
|  | Bluffdale, Utah Local Building Authority Lease Revenue |  |  |  |
| 1215000 | 4.000%, 03/01/35 | A1/NR/NR | 1221537 |  |
|  | CIVICVentures, Alaska Revenue Refunding, Anchorage Convention Center |  |  |  |
| 1000000 | 5.000%, 09/01/28 | NR/A+/AA- | 1021020 |  |
| 1000000 | 5.000%, 09/01/29 | NR/A+/AA- | 1021020 |  |
| 1000000 | 5.000%, 09/01/30 | NR/A+/AA- | 1020520 |  |
|  | Downtown Redevelopment Authority, Texas Tax Increment Contract Revenue |  |  |  |
| 1000000 | 5.000%, 09/01/30 BAMI Insured | NR/AA/NR | 1055480 |  |
|  | Eagle Mountain, Utah Special Assessment Area |  |  |  |
| 165000 | 5.250%, 05/01/28 Series 2013 | NR/AA-/NR | 165787 |  |
|  | Harris County, Texas Sports Refunding Senior Lien |  |  |  |
| 500000 | 5.000%, 11/15/30 Series A | A3/BBB/NR | 512775 |  |
|  | Jacksonville, Florida Special Revenue Bonds |  |  |  |
| 1000000 | 5.250%, 10/01/37 Series 2022C | NR/AA/AA- | 1130000 |  |
|  | Jacksonville, Florida Special Revenue and Refunding Bonds |  |  |  |
| 1015000 | 5.250%, 10/01/32 Series A | Aa3/AA/AA- | 1030864 |  |
|  | Lehi, Utah Local Building Authority Lease Revenue |  |  |  |
| 300000 | 5.000%, 06/15/29 Series 2022 | NR/AA-/AA+ | 334938 |  |
| 500000 | 5.000%, 06/15/30 Series 2022 | NR/AA-/AA+ | 565705 |  |
| 225000 | 5.250%, 06/15/37 Series 2022 | NR/AA-/AA+ | 253325 |  |
|  | Manatee County, Florida Revenue Improvement & Refunding |  |  |  |
| 500000 | 5.250%, 10/01/34 Series 2022C | Aa1/NR/AA+ | 589375 |  |
|  | Matanuska-Susitna Borough, Alaska Lease Revenue Refunding, Goose Creek Correctional Center |  |  |  |
| 735000 | 5.000%, 09/01/32 Series 2015 | A1/A+/A | 764157 |  |
|  | Mesquite, Nevada New Special Improvement District |  |  |  |
| 100000 | 5.500%, 08/01/25 | NR/NR/NR\* | 100072 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Amount** | **Revenue Bonds (continued)** | **Ratings<br> Moody's, S&P<br> and Fitch** | **Value** | **(a)** |
|  | Local Public Property (continued) |  |  |  |
|  | Midvale, Utah Redevelopment Agency Tax Increment & Sales Tax Revenue Refunding |  |  |  |
| $750000 | 5.000%, 05/01/28 | NR/AA+/NR | 810443 |  |
| 1230000 | 5.000%, 05/01/31 | NR/AA+/AA | 1341795 |  |
| 1000000 | 5.000%, 05/01/32 | NR/AA+/NR | 1074290 |  |
|  | Murray City, Utah Municipal Building Authority Lease Revenue |  |  |  |
| 380000 | 4.000%, 12/01/30 Series 2020 | Aa3/NR/NR | 408724 |  |
| 480000 | 4.000%, 12/01/31 Series 2020 | Aa3/NR/NR | 513384 |  |
| 300000 | 4.000%, 12/01/32 Series 2020 | Aa3/NR/NR | 319953 |  |
|  | Old Spanish Trail/Almeda Corridors Redevelopment Authority, Texas Tax Increment Contract Revenue |  |  |  |
| 1000000 | 4.000%, 09/01/35 BAMI Insured | NR/AA/NR | 1041030 |  |
|  | Orange County, Florida Tourist Development Tax Revenue Refunding |  |  |  |
| 1000000 | 5.000%, 10/01/30 | Aa2/AA-/AA | 1050390 |  |
|  | Pennington County, South Dakota COP Limited Tax |  |  |  |
| 1000000 | 5.000%, 12/01/46 Series 2022A | Aa1/NR/NR | 1048560 |  |
|  | Saint George Place, Texas Redevelopment Authority <br> Tax Increment Contract |  |  |  |
| 605000 | 4.000%, 09/01/30 AGMC Insured | A1/AA/NR | 624905 |  |
|  | Salt Lake City, Utah Local Building Authority Lease Revenue |  |  |  |
| 330000 | 4.000%, 10/15/23 Series A | Aa1/NR/AA+ | 332970 |  |
| 600000 | 5.000%, 04/15/32 Series A | Aa1/NR/NR | 646392 |  |
| 395000 | 4.000%, 04/15/32 Series A | Aa1/NR/NR | 407612 |  |
| 425000 | 4.000%, 04/15/34 Series A | Aa1/NR/NR | 435693 |  |
| 1075000 | 5.000%, 04/15/35 Series A | Aa1/NR/NR | 1150100 |  |
| 460000 | 4.000%, 04/15/36 Series A | Aa1/NR/NR | 464917 |  |
|  | Salt Lake City, Utah Mosquito Abatement District Local Building Authority Lease Revenue |  |  |  |
| 730000 | 5.000%, 02/15/29 | Aa3/NR/NR | 796518 |  |
| 810000 | 5.000%, 02/15/31 | Aa3/NR/NR | 886205 |  |
|  | Salt Lake City, Utah Municipal Building Authority Lease Revenue |  |  |  |
| 975000 | 4.000%, 01/15/34 | NR/AA+/AA+ | 1036308 |  |
|  | South Jordan, Utah Special Assessment (Daybreak Assessment Area No. 1) |  |  |  |
| 960000 | 4.000%, 11/01/27 | NR/AA+/NR | 1003200 |  |
| 1210000 | 4.000%, 11/01/28 | NR/AA+/NR | 1264281 |  |
| 1050000 | 4.000%, 11/01/30 | NR/AA+/NR | 1096599 |  |
|  | South Salt Lake, Utah Redevelopment Agency Excise Tax & Tax Increment Revenue Refunding |  |  |  |
| 1000000 | 4.000%, 11/01/28 Series 2020 | NR/AA/NR | 1046730 |  |
| 1035000 | 4.000%, 11/01/29 Series 2020 | NR/AA/NR | 1091542 |  |
| 1080000 | 4.000%, 11/01/30 Series 2020 | NR/AA/NR | 1144238 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Amount** | **Revenue Bonds (continued)** | **Ratings<br> Moody's, S&P<br> and Fitch** | **Value** | **(a)** |
|  | Local Public Property (continued) |  |  |  |
|  | St. Augustine, Florida Capital Improvement Refunding |  |  |  |
| $500000 | 5.000%, 10/01/34 | Aa3/AA/AA- | $507610 |  |
|  | St. Lucie County, Florida School Board COP Master Lease Program |  |  |  |
| 500000 | 5.000%, 07/01/30 Series A | A1/A/A+ | 504345 |  |
|  | Tooele County, Utah Municipal Building Authority Lease Revenue Cross-Over |  |  |  |
| 850000 | 4.000%, 12/15/28 | NR/AA-/NR | 899249 |  |
| 885000 | 4.000%, 12/15/29 | NR/AA-/NR | 933427 |  |
| 920000 | 4.000%, 12/15/30 | NR/AA-/NR | 968208 |  |
|  | Unified Utah Fire Service Area Local Building Authority <br> Lease Revenue |  |  |  |
| 1800000 | 4.000%, 04/01/31 | Aa2/NR/NR | 1919394 |  |
| 2350000 | 4.000%, 04/01/32 | Aa2/NR/NR | 2423532 |  |
| 1875000 | 4.000%, 04/01/32 | Aa2/NR/NR | 1980394 |  |
|  | Vineyard Redevelopment Agency, Utah Tax Increment Revenue And Refunding Bonds |  |  |  |
| 750000 | 5.000%, 05/01/25 Series 2021 AGMC Insured | NR/AA/NR | 786195 |  |
| 350000 | 4.000%, 05/01/33 Series 2021 AGMC Insured | NR/AA/NR | 369919 |  |
|  | Wasatch County, Utah Municipal Building Authority Lease Revenue |  |  |  |
| 560000 | 4.000%, 12/01/28 Series 2021 | NR/AA-/NR | 594602 |  |
| 585000 | 4.000%, 12/01/29 Series 2021 | NR/AA-/NR | 626406 |  |
| 605000 | 4.000%, 12/01/30 Series 2021 | NR/AA-/NR | 650883 |  |
|  | Washington County, Utah Municipal Building <br> Authority Lease Revenue |  |  |  |
| 500000 | 5.000%, 10/01/32 | Aa3/NR/NR | 533940 |  |
| 500000 | 5.000%, 10/01/37 | Aa3/NR/NR | 531395 |  |
|  | Weber County, Utah Special Assessment Summit Mountain Area |  |  |  |
| 1520000 | 5.500%, 01/15/28 | NR/AA/NR | 1522478 |  |
| 3935000 | 5.750%, 01/15/33 | NR/AA/NR | 3941335 |  |
|  | West Jordan, Utah Municipal Building Authority Lease Revenue |  |  |  |
| 1000000 | 5.000%, 10/01/29 | Aa3/NR/NR | 1073380 |  |
| 1000000 | 5.000%, 10/01/34 | Aa3/NR/NR | 1066420 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Amount** | **Revenue Bonds (continued)** | **Ratings<br> Moody's, S&P<br> and Fitch** | **Value** | **(a)** |
|  | Local Public Property (continued) |  |  |  |
|  | West Valley City, Utah Municipal Building Authority Lease Revenue Refunding |  |  |  |
| $900000 | 4.000%, 02/01/33 AGMC Insured | NR/AA/AA- | $923868 |  |
| 1000000 | 5.000%, 02/01/34 AGMC Insured | NR/AA/AA- | 1063260 |  |
| 300000 | 5.000%, 02/01/34 AGMC Insured | NR/AA/AA- | 331152 |  |
| 810000 | 4.000%, 02/01/38 AGMC Insured | NR/AA/AA- | 812770 |  |
|  | West Valley City, Utah Redevelopment Agency Revenue Refunding |  |  |  |
| 1885000 | 5.000%, 11/01/36 | NR/AA/NR | 2009297 |  |
|  | Total Local Public Property |  | 60588717 |  |
|  | Public Schools (3.5%) |  |  |  |
|  | Alpine, Utah Local Building Authority School District Lease Revenue |  |  |  |
| 985000 | 4.000%, 03/15/28 | Aa1/NR/NR | 1033728 |  |
|  | Canyons School District Utah, Local Building Authority Lease |  |  |  |
| 725000 | 4.000%, 06/15/33 Series 2021 | Aa1/NR/NR | 766434 |  |
| 750000 | 4.000%, 06/15/34 Series 2021 | Aa1/NR/NR | 788168 |  |
|  | Davis County, Utah Municipal Building Authority Crossover Refunding Lease Revenue |  |  |  |
| 1085000 | 4.000%, 11/01/32 Series 2020 | NR/AA/NR | 1156360 |  |
|  | Duchesne School District Utah, Municipal Building Authority Lease |  |  |  |
| 750000 | 5.000%, 06/01/36 Series 2022 | A2/NR/NR | 798135 |  |
| 750000 | 4.000%, 06/01/38 Series 2022 | A2/NR/NR | 714038 |  |
|  | Grand City, Utah Local Building Authority School District Lease Revenue |  |  |  |
| 1665000 | 5.000%, 12/15/34 AGMC Insured | A1/AA/NR | 1741790 |  |
|  | Ogden City, Utah Municipal Building Authority School District Lease Revenue |  |  |  |
| 1125000 | 5.000%, 01/15/30 | A1/NR/NR | 1228556 |  |
| 1315000 | 5.000%, 01/15/31 | A1/NR/NR | 1335948 |  |
| 500000 | 5.000%, 01/15/32 Series 2018 | A1/NR/NR | 542470 |  |
|  | Provo City, Utah Municipal Building Authority School District Lease Revenue |  |  |  |
| 1500000 | 5.000%, 03/15/33 Series 2022 | Aa3/NR/NR | 1744965 |  |
|  | Total Public Schools |  | 11850592 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Amount** | **Revenue Bonds (continued)** | **Ratings<br> Moody's, S&P<br> and Fitch** | **Value** | **(a)** |
|  | Sales Tax (15.4%) |  |  |  |
|  | Draper, Utah Sales Tax Revenue |  |  |  |
| $765000 | 4.000%, 11/15/39 Series 2022 | NR/AAA/NR | $778342 |  |
|  | Eagle Mountain, Utah Sales Tax Revenue |  |  |  |
| 200000 | 5.000%, 02/01/29 Series 2022 | NR/AA+/NR | 223750 |  |
|  | Herriman City, Utah Sales & Franchise Tax Revenue Refunding |  |  |  |
| 1080000 | 4.000%, 08/01/25 Series B | NR/AA+/NR | 1095563 |  |
| 2135000 | 4.000%, 08/01/30 Series B | NR/AA+/NR | 2210728 |  |
| 1515000 | 5.000%, 08/01/33 Series B | NR/AA+/NR | 1585660 |  |
|  | Holladay, Utah Sales Tax Revenue |  |  |  |
| 965000 | 5.000%, 11/15/29 Series 2022 | NR/AA+/NR | 1095873 |  |
| 1000000 | 5.000%, 11/15/33 Series 2022 | NR/AA+/NR | 1151750 |  |
|  | Lehi, Utah Franchise & Sales Tax Revenue (Broadband Project) |  |  |  |
| 985000 | 5.000%, 02/01/27 Series 2021 AGMC Insured | NR/AA/NR | 1071985 |  |
| 1000000 | 4.000%, 02/01/32 Series 2021 AGMC Insured | NR/AA/NR | 1075400 |  |
| 1000000 | 4.000%, 02/01/33 Series 2021 AGMC Insured | NR/AA/NR | 1075220 |  |
| 500000 | 4.000%, 02/01/34 Series 2021 AGMC Insured | NR/AA/NR | 533175 |  |
| 500000 | 4.000%, 02/01/35 Series 2021 AGMC Insured | NR/AA/NR | 525995 |  |
|  | Lehi, Utah Sales Tax Revenue |  |  |  |
| 1220000 | 4.000%, 06/01/35 Series 2019 | NR/AA+/NR | 1264164 |  |
|  | Mapleton City, Utah Municipal Energy Sales & Sales Tax & Telecommunications Fee |  |  |  |
| 1085000 | 3.000%, 06/15/31 Series 2021 | NR/A+/NR | 1043846 |  |
| 780000 | 3.000%, 06/15/33 Series 2021 | NR/A+/NR | 733294 |  |
| 1255000 | 3.000%, 06/15/36 Series 2021 | NR/A+/NR | 1115168 |  |
|  | Miami-Dade County, Florida Transit System Sales Surtax Revenue |  |  |  |
| 1000000 | 5.000%, 07/01/34 | A1/AA/AA | 1047270 |  |
|  | Ogden City, Utah Franchise Tax Revenue |  |  |  |
| 1625000 | 3.000%, 01/15/31 | NR/AA/NR | 1599748 |  |
|  | Providence City, Utah Franchise & Sales Tax Revenue |  |  |  |
| 1270000 | 3.000%, 03/01/29 Series 2021 | NR/A-/NR | 1227277 |  |
|  | Reno, Nevada Sales Tax Revenue, First Lien, ReTRAC-Reno Transportation Rail Access Corridor Project |  |  |  |
| 500000 | 5.000%, 06/01/26 | A3/NR/NR | 523185 |  |
|  | Riverton City, Utah Franchise & Sales Tax Revenue |  |  |  |
| 750000 | 4.000%, 06/01/30 | NR/AA+/AAA | 774765 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Amount** | **Revenue Bonds (continued)** | **Ratings<br> Moody's, S&P<br> and Fitch** | **Value** | **(a)** |
|  | Sales Tax (continued) |  |  |  |
|  | Salt Lake County, Utah Sales Tax Revenue |  |  |  |
| $525000 | 5.000%, 02/01/24 Series 2012A | NR/AAA/AAA | $525803 |  |
|  | South Jordan, Utah Redevelopment Agency Subordinated Sales Tax & Tax Increment Revenue |  |  |  |
| 1000000 | 5.000%, 04/01/29 | NR/AA/AAA | 1046890 |  |
|  | Spearfish, South Dakota Sales Tax Revenue |  |  |  |
| 975000 | 4.000%, 12/15/29 Series 2022 | A1/NR/NR | 1038239 |  |
|  | Summit County, Utah Transportation Sales Tax Revenue |  |  |  |
| 1200000 | 4.000%, 12/15/28 Series 2018 | NR/AA/NR | 1250628 |  |
| 1450000 | 4.000%, 12/15/29 Series 2018 | NR/AA/NR | 1510799 |  |
|  | Utah County, Utah Excise Tax Revenue Refunding |  |  |  |
| 1690000 | 4.000%, 12/01/36 Series 2020 | NR/AA+/NR | 1726149 |  |
|  | Utah County, Utah Transportation Sales Tax Revenue Refunding |  |  |  |
| 3315000 | 4.000%, 12/01/35 Series 2021 | NR/AA-/NR | 3438981 |  |
|  | Utah Infrastructure Agency Telecommunications & Sales Tax, West Haven |  |  |  |
| 1200000 | 5.000%, 10/15/35 Series 2022 | NR/AA-/NR | 1341060 |  |
|  | Utah Transit Authority Sales Tax Revenue |  |  |  |
| 2950000 | 4.000%, 12/15/34 Series A | Aa2/AA/AA | 3092190 |  |
| 3440000 | 4.000%, 12/15/37 Series A | Aa2/AA/AA | 3468208 |  |
| 3580000 | 4.000%, 12/15/38 Series A | Aa2/AA/AA | 3598437 |  |
|  | Utah Transit Authority Sales Tax Revenue Subordinated |  |  |  |
| 1000000 | 5.000%, 12/15/32 | Aa3/AA-/AA | 1105330 |  |
|  | Utah Transit Authority Sales Tax Revenue Subordinated, <br> Capital Appreciation |  |  |  |
| 3000000 | zero coupon, 12/15/32 | Aa3/AA-/AA | 2051850 |  |
|  | Watertown, South Dakota Sales Tax Revenue |  |  |  |
| 1110000 | 3.000%, 12/01/34 Series 2021 | NR/A/NR | 1046786 |  |
| 215000 | 5.000%, 12/01/23 Series 2022A BAMI Insured | NR/AA/NR | 218778 |  |
| 335000 | 5.000%, 12/01/24 Series 2022A BAMI Insured | NR/AA/NR | 348427 |  |
| 350000 | 5.000%, 12/01/25 Series 2022A BAMI Insured | NR/AA/NR | 371396 |  |
| 825000 | 4.000%, 12/01/33 Series 2022C BAMI Insured | NR/AA/NR | 869459 |  |
|  | West Valley City, Utah Sales Tax Revenue Capital Appreciation Bonds, Refunding |  |  |  |
| 3500000 | zero coupon, 07/15/35 | NR/AA+/NR | 1883035 |  |
|  | Total Sales Tax |  | 51684603 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Amount** | **Revenue Bonds (continued)** | **Ratings<br> Moody's, S&P<br> and Fitch** | **Value** | **(a)** |
|  | State Agency (4.2%) |  |  |  |
|  | Utah Infrastructure Agency Telecommunications, Franchise & Sales Tax, Cedar Hills Project |  |  |  |
| $1230000 | 4.000%, 10/15/32 Series 2022 | NR/A+/NR | $1285030 |  |
| 905000 | 4.000%, 10/15/37 Series 2022 | NR/A+/NR | 905833 |  |
| 1125000 | 4.250%, 10/15/42 Series 2022 | NR/A+/NR | 1104491 |  |
|  | Utah Infrastructure Agency Telecommunications & Franchise Tax, Clearfield City |  |  |  |
| 315000 | 5.000%, 10/15/25 Series 2020 | NR/A+/NR | 331197 |  |
| 335000 | 5.000%, 10/15/26 Series 2020 | NR/A+/NR | 358209 |  |
| 350000 | 5.000%, 10/15/27 Series 2020 | NR/A+/NR | 379302 |  |
|  | Utah Infrastructure Agency Telecommunications & Franchise Tax, Layton City |  |  |  |
| 500000 | 5.000%, 10/15/30 Series 2018 | NR/A+/NR | 548010 |  |
|  | Utah Infrastructure Agency Telecommunications & Franchise Tax, Payson City |  |  |  |
| 485000 | 5.000%, 10/01/29 Series 2019 | NR/A+/NR | 525764 |  |
| 640000 | 4.000%, 10/01/34 Series 2019 | NR/A+/NR | 652198 |  |
|  | Utah Infrastructure Agency Telecommunications, Franchise & Sales Tax, Santa Clara Project |  |  |  |
| 1180000 | 4.000%, 10/15/32 Series 2022 | NR/A/NR | 1232793 |  |
| 1010000 | 4.000%, 10/15/37 Series 2022 | NR/A/NR | 1010929 |  |
|  | Utah Infrastructure Agency Telecommunications, Franchise & Sales Tax, Syracuse City Project |  |  |  |
| 1000000 | 4.000%, 10/15/30 Series 2021 | NR/AA-/NR | 1060100 |  |
|  | Utah State Building Ownership Authority Lease Revenue Refunding State Facilities Master Lease Program |  |  |  |
| 1000000 | 5.000%, 05/15/24 | Aa1/AA+/NR | 1030200 |  |
| 905000 | 4.000%, 05/15/29 | Aa1/AA+/NR | 955771 |  |
| 1775000 | 3.000%, 05/15/29 | Aa1/AA+/NR | 1758812 |  |
| 940000 | 4.000%, 05/15/30 | Aa1/AA+/NR | 990243 |  |
|  | Total State Agency |  | 14128882 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Amount** | **Revenue Bonds (continued)** | **Ratings<br> Moody's, S&P<br> and Fitch** | **Value** | **(a)** |
|  | Transportation (0.7%) |  |  |  |
|  | Pharr, Texas International Toll Bridge System Revenue |  |  |  |
| $1000000 | 4.000%, 08/15/35 Series 2021 | A2/A/NR | $1001450 |  |
|  | Salt Lake County, Utah Excise Tax Road Revenue |  |  |  |
| 1000000 | 4.000%, 08/15/31 Series 2017 | NR/AAA/AAA | 1049630 |  |
|  | Utah Transit Authority Sales Tax & Transportation Revenue |  |  |  |
| 195000 | 5.250%, 06/15/32 AGMC Insured | Aa2/AA/AA | 227218 |  |
|  | Total Transportation |  | 2278298 |  |
|  | Water and Sewer (9.3%) |  |  |  |
|  | Brian Head, Utah Water Revenue Refunding |  |  |  |
| 720000 | 3.000%, 04/01/36 Series 2021 AGMC Insured | NR/AA/NR | 646430 |  |
|  | Central Utah Water Conservancy District Refunding |  |  |  |
| 1785000 | 5.000%, 10/01/37 Series 2020D | NR/AA+/AA+ | 1994434 |  |
| 1000000 | 4.000%, 10/01/38 Series 2020D | NR/AA+/AA+ | 1011980 |  |
|  | Central Valley, Utah Water Reclamation Facility, Green Bond |  |  |  |
| 1215000 | 3.000%, 03/01/32 Series 2021B | NR/AA/AA | 1203664 |  |
| 1255000 | 3.000%, 03/01/33 Series 2021B | NR/AA/AA | 1237330 |  |
| 1090000 | 3.000%, 03/01/34 Series 2021B | NR/AA/AA | 1067960 |  |
|  | Eagle Mountain, Utah Water & Sewer Revenue Refunding |  |  |  |
| 420000 | 4.000%, 11/15/24 Series A BAMI Insured | NR/AA/NR | 429593 |  |
|  | El Paso, Texas Water & Sewer Revenue Refunding |  |  |  |
| 1000000 | 4.500%, 03/01/31 Series C | NR/AA+/AA+ | 1032660 |  |
|  | Fairview City, Utah Water & Sewer Revenue Refunding |  |  |  |
| 725000 | 4.000%, 06/15/46 Series 2022 | NR/BBB/NR | 621180 |  |
|  | Florida State Governmental Utility Authority Refunding Revenue Bonds (Lehigh Utility System) |  |  |  |
| 500000 | 5.000%, 10/01/31 Series 2014 AGMC Insured | A1/AA/NR | 517910 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Amount** | **Revenue Bonds (continued)** | **Ratings<br> Moody's, S&P<br> and Fitch** | **Value** | **(a)** |
|  | Water and Sewer (continued) |  |  |  |
|  | Herriman City, Utah Water Revenue Refunding |  |  |  |
| $150000 | 4.000%, 01/01/35 Series 2021 AGMC Insured | NR/AA/NR | $155915 |  |
|  | Hooper, Utah Water Improvement District Revenue Refunding |  |  |  |
| 1000000 | 4.000%, 06/15/34 Series 2019 | NR/AA-/NR | 1031200 |  |
| 220000 | 4.000%, 06/15/39 Series 2019 | NR/AA-/NR | 220392 |  |
|  | Jordan Valley, Utah Water Conservancy District Revenue |  |  |  |
| 1000000 | 5.000%, 10/01/26 Series B | NR/AA+/AA+ | 1085210 |  |
| 1000000 | 4.000%, 10/01/32 Series B | NR/AA+/AA+ | 1044420 |  |
|  | Jordanelle, Utah Special Service District |  |  |  |
| 299000 | 6.000%, 11/15/23 | NR/NR/NR\* | 296333 |  |
|  | Lakewood, Washington Water District, Pierce County |  |  |  |
| 750000 | 4.000%, 12/01/37 Series 2019A AMT | NR/AA/NR | 751575 |  |
|  | Okaloosa County, Florida Water and Sewer Revenue |  |  |  |
| 1000000 | 5.000%, 07/01/30 | Aa3/NR/AA+ | 1050710 |  |
|  | Orem, Utah Water, Sewer and Storm Sewer |  |  |  |
| 540000 | 4.000%, 07/15/34 Series 2021A | NR/AA+/AAA | 573518 |  |
|  | Park City, Utah Water Revenue Green Bonds |  |  |  |
| 1000000 | 3.000%, 12/15/33 Series 2020 | Aa2/AA/NR | 962620 |  |
|  | Pleasant Grove City, Utah Storm Water Revenue Refunding |  |  |  |
| 205000 | 4.000%, 07/15/27 Series 2020 BAMI Insured | NR/AA/NR | 215402 |  |
| 370000 | 4.000%, 07/15/28 Series 2020 BAMI Insured | NR/AA/NR | 392515 |  |
| 485000 | 4.000%, 07/15/29 Series 2020 BAMI Insured | NR/AA/NR | 519207 |  |
| 510000 | 4.000%, 07/15/30 Series 2020 BAMI Insured | NR/AA/NR | 547103 |  |
| 525000 | 4.000%, 07/15/31 Series 2020 BAMI Insured | NR/AA/NR | 558668 |  |
|  | Salt Lake City, Utah Public Utilities Revenue |  |  |  |
| 1000000 | 5.000%, 02/01/32 | Aa1/AAA/NR | 1063430 |  |
| 1400000 | 5.000%, 02/01/33 | Aa1/AAA/NR | 1487108 |  |
| 1000000 | 5.000%, 02/01/35 | Aa1/AAA/NR | 1057380 |  |
| 500000 | 4.000%, 02/01/37 | Aa1/AAA/NR | 511020 |  |
| 500000 | 4.000%, 02/01/38 | Aa1/AAA/NR | 506205 |  |
|  | San Jacinto, Texas River Authority Woodlands Waste Disposal |  |  |  |
| 1000000 | 5.000%, 10/01/30 BAMI Insured | NR/AA/NR | 1010500 |  |
|  | Utah Water Finance Agency Revenue |  |  |  |
| 950000 | 4.000%, 03/01/33 | NR/AA/AA+ | 986613 |  |
| 1000000 | 4.000%, 03/01/34 | NR/AA/AA | 1051780 |  |
| 1000000 | 5.000%, 03/01/35 | NR/AA/AA | 1076500 |  |
| 1295000 | 5.000%, 03/01/38 | NR/AA/AA | 1411524 |  |
|  | Weber Basin, Utah Water Conservancy District Refunding |  |  |  |
| 915000 | 4.000%, 10/01/31 Series A | NR/AA+/AAA | 929411 |  |
|  | West Harris County, Texas Regional Water Authority |  |  |  |
| 815000 | 5.000%, 12/15/26 Series A | A1/AA-/A+ | 863101 |  |
|  | Total Water and Sewer |  | 31122501 |  |
|  | Total Revenue Bonds |  | 285338036 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Amount** | **Pre-Refunded Bonds\Escrowed to Maturity Bonds (3.6%)††** | **Ratings<br> Moody's, S&P<br> and Fitch** | **Value** | **(a)** |
|  | Pre-Refunded General Obligation Bonds (0.7%) |  |  |  |
|  | City and County (0.3%) |  |  |  |
|  | Miami Gardens, Florida |  |  |  |
| $1000000 | 5.000%, 07/01/29 | Aa3/A+/NR | $1031390 |  |
|  | Public Schools (0.4%) |  |  |  |
|  | Leander Independent School District, Texas (Williamson & Travis Counties) Unlimited Tax School Building |  |  |  |
| 2035000 | zero coupon, 08/15/47 Series 2014 C PSF Guaranteed | NR/NR/NR\* | 554334 |  |
|  | Wylie, Texas Independent School District Capital Appreciation |  |  |  |
| 1000000 | zero coupon, 08/15/32 PSF Guaranteed | Aaa/NR/NR | 712030 |  |
|  | Total Public Schools |  | 1266364 |  |
|  | Total Pre-Refunded General Obligation Bonds |  | 2297754 |  |
|  | Pre-Refunded\Escrowed to Maturity Revenue Bonds (2.9%) |  |  |  |
|  | Airport (0.7%) |  |  |  |
|  | Williston City, North Dakota Airport Revenue Infrastructure Sales Tax |  |  |  |
| 2365000 | 4.000%, 11/01/28 | NR/A+/NR | 2384298 |  |
|  | Charter Schools (0.3%) |  |  |  |
|  | Utah State Charter School Finance Authority Legacy Preparatory Academy |  |  |  |
| 140000 | 4.000%, 04/15/24 ETM | NR/NR/NR\* | 142134 |  |
| 820000 | 5.000%, 04/15/29 | NR/NR/NR\* | 852620 |  |
|  | Total Charter Schools |  | 994754 |  |
|  | Electric (0.2%) |  |  |  |
|  | Wyoming Municipal Power Agency Power Supply System Revenue |  |  |  |
| 665000 | 5.000%, 01/01/27 Series A BAMI Insured ETM | NR/NR/NR\* | 720255 |  |
|  | Healthcare (0.2%) |  |  |  |
|  | Brevard County, Florida Health Facilities Authority Health First Inc. Project |  |  |  |
| 750000 | 5.000%, 04/01/30 | A2/A/NR | 764175 |  |
|  | Higher Education (0.8%) |  |  |  |
|  | Utah State University Student Building Fee |  |  |  |
| 1285000 | 5.000%, 12/01/29 Series B | NR/AA/NR | 1295781 |  |
| 1355000 | 5.000%, 12/01/30 Series B | NR/AA/NR | 1366368 |  |
|  | Total Higher Education |  | 2662149 |  |
|  | Sales Tax (0.7%) |  |  |  |
|  | Riverton City, Utah Franchise & Sales Tax Revenue |  |  |  |
| 650000 | 5.250%, 12/01/36 | NR/AA+/NR | 656110 |  |
|  | Utah Transit Authority Sales Tax Revenue |  |  |  |
| 1560000 | 5.000%, 06/15/37 Series A | Aa3/AA-/NR | 1650371 |  |
|  | Total Sales Tax |  | 2306481 |  |
|  | Total Pre-Refunded\Escrowed to Maturity Revenue Bonds |  | 9832112 |  |
|  | Total Pre-Refunded\Escrowed to Maturity Bonds |  | 12129866 |  |
|  | Total Municipal Bonds (cost $342,414,780) |  | 330499068 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Shares** | **Short-Term Investment (0.6%)** | **Ratings<br> Moody's, S&P<br> and Fitch** | **Value** | **(a)** |
| 1829492 | Dreyfus Treasury Obligations Cash Management - <br> Institutional Shares, 4.17%\*\* (cost $1,829,492) | Aaa-mf/AAAm/NR | $1829492 |  |
|  | Total Investments <br> (cost $344,244,272-note b) | 99.0% | 332328560 |  |
|  | Other assets less liabilities | 1 | 3260011 |  |
|  | Net Assets | 100.0% | $335588571 |  |
|  |  | **Percent of** |  |  |
|  | **Portfolio Distribution By Quality Rating** | **Investments <sup>†</sup>** |  |  |
|  | Aaa of Moody's or AAA of S&P and Fitch | 7.3% |  |  |
|  | Pre-refunded bonds\ ETM bonds†† | 3.7 |  |  |
|  | Aa of Moody's or AA of S&P and Fitch | 64.5 |  |  |
|  | A of Moody's or S&P and Fitch | 17.9 |  |  |
|  | BBB of S&P | 2.5 |  |  |
|  | Not Rated\* | 4.1 |  |  |
|  |  | 100.0% |  |  |

---

---

| |
|:---|
| **PORTFOLIO ABBREVIATIONS:** |
| AGMC - Assured Guaranty Municipal Corp. |
| AMBAC - American Municipal Bond Assurance Corp. |
| AMT - Alternative Minimum Tax |
| BAMAC - Build America Mutual Assurance Co. |
| BAMI - Build America Mutual Insurance |
| COP - Certificates of Participation |
| ETM - Escrowed to Maturity |
| FHA - Federal Housing Administration |
| NR - Not Rated |
| PSF- Permanent School Fund |

---

---

| | |
|:---|:---|
| \* | Any security not rated ("NR") by any of the Nationally Recognized Statistical Rating Organizations ("NRSRO") has been determined by the Investment Adviser to have sufficient quality to be ranked in the top four credit ratings if a credit rating were to be assigned by a NRSRO. |
| \*\* | The rate is an annualized seven-day yield at period end. |
| † | Where applicable, calculated using the highest rating of the three NRSRO. Percentages in this table do not include the Short-Term Investment. |
| †† | Pre-refunded bonds are bonds for which U.S. Government Obligations usually have been placed in escrow to retire the bonds at their earliest call date. Escrowed to Maturity bonds are bonds where money has been placed in the escrow account which is used to pay principal and interest through the bond's originally scheduled maturity date. Escrowed to Maturity are shown as ETM. All other securities in the category are pre-refunded. |
|  | Note: 144A – Private placement subject to SEC rule 144A, which modifies a two-year holding period requirement to permit qualified institutional buyers to trade these securities among themselves, thereby significantly improving the liquidity of these securities. |

---

See accompanying notes to financial statements.

**AQUILA TAX-FREE FUND FOR UTAH**

NOTES TO FINANCIAL STATEMENTS

**December 31, 2022**

(unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Securities valuation policies and other investment related disclosures are hereby incorporated by reference
in the annual and semi-annual reports previously filed with the Securities and Exchange Commission on Form N-CSR.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) At December 31, 2022, the net unrealized depreciation on investments, based on cost for federal income
tax purposes of $344,244,272 amounted to $11,915,712, which consisted of aggregate gross unrealized appreciation of $1,020,743 and aggregate
gross unrealized depreciation of $12,936,455.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Fair Value Measurements: The Fund follows a fair value hierarchy that distinguishes between market data
obtained from independent sources (observable inputs) and the Fund's own market assumptions (unobservable inputs). These inputs
are used in determining the value of the Fund's investments and are summarized in the following fair value hierarchy:

---

| | |
|:---|:---|
| &nbsp;&nbsp;Level 1 – | &nbsp;&nbsp;Unadjusted quoted prices in inactive markets for identical assets or liabilities that the Fund has the ability to access. |
| &nbsp;&nbsp;Level 2 – | &nbsp;&nbsp;Observable inputs other than quoted prices included in level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data. |
| &nbsp;&nbsp;Level 3 – | &nbsp;&nbsp;Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available. |

---

The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

The following is a summary of the valuation inputs, representing 100% of the Fund's investments, used to value the Fund's net assets as of December 31, 2022:

---

| | |
|:---|:---|
| **Valuation Inputs**+ | **Investments in<br> Securities** |
| Level 1 – Quoted Prices- Short-Term Investment | $1829492 |
| Level 2 – Other Significant Observable Inputs - Municipal Bonds | 330499068 |
| Level 3 – Significant Unobservable Inputs |  |
| Total | $332328560 |

---

+ See schedule of investments for a detailed listing of securities.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Aquila Municipal Trust

- **b. Investment Company Act file number:** 811-04503

- **c. CIK number of Registrant:** 0000784056

- **d. LEI of Registrant:** 5493000LE8UHAHYCT855

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

  - **Street Address 1:** 120 West 45th Street

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10036

  - **Telephone number:** 212-697-6666

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

- **a. Name of Series:** Aquila Tax-Free Fund For Utah

- **b. EDGAR series identifier (if any):** S000041643

- **c. LEI of Series:** 549300ML3P2YTSIG1C46

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

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

- **b. Date as of which information is reported:** 2022-12-30

**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:** $340821065.15

**Total Liabilities:** $2949496.13

**Net Assets:** $337871569.02

**Cash Not Reported:** $1259682.30

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 470.00316000 | **1-Year:** 20073.83692000 | **5-Year:** 70642.67678000 | **10-Year:** 77318.89694000 | **30-Year:** 2385.61809000

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000129284 | -0.53%               | 3.68%                | 0.18%                |
| Class ID C000188818 | -0.44%               | 3.63%                | 0.37%                |
| Class ID C000129283 | -0.46%               | 3.74%                | 0.25%                |
| Class ID C000129286 | -0.44%               | 3.64%                | 0.37%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1842544.55             | $-367720.21                                |
| Month 2  | $-1334676.12             | $13181549.45                               |
| Month 3  | $-207721.50              | $658939.08                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| UTAH ST INFRASTRUCTURE AGY TEL                    | Utah Infrastructure Agency                                            | CUSIP: 917466CJ1<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |    640000 | PA      | $652198.40    | 0.19%             | 2034-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAINT AUGUSTINE FL CAPITAL IMP                    | City of St Augustine FL                                               | CUSIP: 787350CA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $507610.00    | 0.15%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NV                                     | County of Clark NV                                                    | CUSIP: 180848F73<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002140.00   | 0.30%             | 2037-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST ASSOCIATED MUNI PWR SY                    | Utah Associated Municipal Power Systems                               | CUSIP: 917328SB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $411191.25    | 0.12%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT ARPT REVENUE                    | City of Salt Lake City UT Airport Revenue                             | CUSIP: 795576GH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1240000 | PA      | $1342585.20   | 0.40%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT ARPT REVENUE                    | City of Salt Lake City UT Airport Revenue                             | CUSIP: 795576GJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $917634.50    | 0.27%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SPEARFISH SD SALES TAX REVENUE                    | City of Spearfish SD Sales Tax Revenue                                | CUSIP: 847327EZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    975000 | PA      | $1038238.50   | 0.31%             | 2029-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAINT LUCIE CNTY FL SCH BRD CO                    | St Lucie County School Board                                          | CUSIP: 792075MD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $504345.00    | 0.15%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEHI UT SALES TAX REVENUE                         | City of Lehi UT Sales Tax Revenue                                     | CUSIP: 52469PCN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1220000 | PA      | $1264164.00   | 0.37%             | 2035-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INTERMOUNTAIN PWR AGY UT PWR S                    | Intermountain Power Agency                                            | CUSIP: 45884AA86<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $427143.75    | 0.13%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALASKA ST MUNI BOND BANK AUTH                     | Alaska Municipal Bond Bank Authority                                  | CUSIP: 01179RYQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    540000 | PA      | $573112.80    | 0.17%             | 2030-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST INFRASTRUCTURE AGY TEL                    | Utah Infrastructure Agency                                            | CUSIP: 917471AR5<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1060100.00   | 0.31%             | 2030-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT PUBLIC UTILS                    | City of Salt Lake City UT Public Utilities Revenue                    | CUSIP: 795604AT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1057380.00   | 0.31%             | 2035-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FAIRVIEW UT WTR & SWR REVENUE                     | City of Fairview UT Water & Sewer Revenue                             | CUSIP: 306011AD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $621180.00    | 0.18%             | 2046-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST BLDG OWNERSHIP AUTH LE                    | Utah State Building Ownership Authority                               | CUSIP: 917547YM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1775000 | PA      | $1758812.00   | 0.52%             | 2029-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| TOOELE CNTY UT MUNI BLDG AUTH                     | Tooele County Municipal Building Authority                            | CUSIP: 890342AW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $899249.00    | 0.27%             | 2028-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SUMMIT CNTY UT TRANSPRTN SALES                    | Summit County UT Transportation Sales Tax Revenue                     | CUSIP: 86607RAL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1250628.00   | 0.37%             | 2028-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RIVERTON CITY UT FRANCHISE SAL                    | City of Riverton UT                                                   | CUSIP: 769326ES4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $774765.00    | 0.23%             | 2030-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH SALT LAKE UT REDEV AGY E                    | South Salt Lake Redevelopment Agency                                  | CUSIP: 839852AK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1080000 | PA      | $1144238.40   | 0.34%             | 2030-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST                                           | State of Utah                                                         | CUSIP: 917542VH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1102050.00   | 0.33%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT PUBLIC UTILS                    | City of Salt Lake City UT Public Utilities Revenue                    | CUSIP: 795604AR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1487108.00   | 0.44%             | 2033-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TZE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $796690.00    | 0.24%             | 2040-04-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL PUBLIC FACS                    | County of Miami-Dade FL                                               | CUSIP: 59333TDY3<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1041160.00   | 0.31%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PARK CITY UT WTR REVENUE                          | City of Park City UT Water Revenue                                    | CUSIP: 700251EK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $962620.00    | 0.28%             | 2033-12-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST HSG CORP SF MTGE REVEN                    | Utah Housing Corp                                                     | CUSIP: 917436V46<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |      5000 | PA      | $5003.65      | 0.00%             | 2032-01-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| UTAH ST UNIV REVENUE                              | Utah State University                                                 | CUSIP: 917563EY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1285000 | PA      | $1295781.15   | 0.38%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEBER BASIN UT WTR CONSERVANCY                    | Weber Basin Water Conservancy District                                | CUSIP: 947628DM2<br>LEI: 549300FO1ZUV2HMQR857 | Long             | DBT              | MUN               | US        |    915000 | PA      | $929411.25    | 0.28%             | 2031-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT LOCAL BLDG A                    | Salt Lake City Local Building Authority                               | CUSIP: 795589AJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | PA      | $332970.00    | 0.10%             | 2023-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEHI UT FRANCHISE & SALES TAX                     | City of Lehi UT Sales Tax Revenue                                     | CUSIP: 52469SAD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    985000 | PA      | $1071985.35   | 0.32%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HALE CENTER TX EDU FACS CORP R                    | Hale Center Education Facilities Corp                                 | CUSIP: 405423BP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $734832.00    | 0.22%             | 2029-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST TRANSIT AUTH SALES TAX                    | Utah Transit Authority                                                | CUSIP: 917567CJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2051850.00   | 0.61%             | 2032-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TOOELE CNTY UT MUNI BLDG AUTH                     | Tooele County Municipal Building Authority                            | CUSIP: 890342AY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    920000 | PA      | $968208.00    | 0.29%             | 2030-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CNTY UT CLG REVENUE                     | County of Salt Lake UT                                                | CUSIP: 79567PDY6<br>LEI: 5493006VYRFL1AI6GT29 | Long             | DBT              | MUN               | US        |   1005000 | PA      | $1028195.40   | 0.30%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST WTR FIN AGY REVENUE                       | Utah Water Finance Agency                                             | CUSIP: 917572ZB8<br>LEI: 5493008FZQW2WEDN4040 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1051780.00   | 0.31%             | 2034-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEHI UT LOCAL BLDG AUTH LEASE                     | Lehi Local Building Authority                                         | CUSIP: 52475CAG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $565705.00    | 0.17%             | 2030-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HERRIMAN CITY UT SALES & FRANC                    | City of Herriman City UT                                              | CUSIP: 427754BU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2135000 | PA      | $2210728.45   | 0.65%             | 2030-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST HSG CORP SF MTGE REVEN                    | Utah Housing Corp                                                     | CUSIP: 9174366X0<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |    480000 | PA      | $475454.40    | 0.14%             | 2036-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST ASSOCIATED MUNI PWR SY                    | Utah Associated Municipal Power Systems                               | CUSIP: 917328RG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    905000 | PA      | $935217.95    | 0.28%             | 2032-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JACKSONVILLE FL SPL REVENUE                       | City of Jacksonville FL                                               | CUSIP: 469487TY8<br>LEI: 549300XQE0JVN9WV0J40 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1130000.00   | 0.33%             | 2037-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UTAH ST TRANSIT AUTH SALES TAX                    | Utah Transit Authority                                                | CUSIP: 917565EU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    195000 | PA      | $227217.90    | 0.07%             | 2032-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UTAH ST INFRASTRUCTURE AGY TEL                    | Utah Infrastructure Agency                                            | CUSIP: 917471BC7<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |   1180000 | PA      | $1232793.20   | 0.36%             | 2032-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CNTY UT CLG REVENUE                     | County of Salt Lake UT                                                | CUSIP: 79567PDX8<br>LEI: 5493006VYRFL1AI6GT29 | Long             | DBT              | MUN               | US        |    955000 | PA      | $978206.50    | 0.29%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASATCH CNTY UT MUNI BLDG AUTH                    | Wasatch County Municipal Building Authority                           | CUSIP: 936778CN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $626406.30    | 0.19%             | 2029-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST                                           | State of Utah                                                         | CUSIP: 917542VG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1102940.00   | 0.33%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH LAS VEGAS NV                                | City of North Las Vegas NV                                            | CUSIP: 660393R43<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1107780.00   | 0.33%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST BLDG OWNERSHIP AUTH LE                    | Utah State Building Ownership Authority                               | CUSIP: 917547A35<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    940000 | PA      | $990243.00    | 0.29%             | 2030-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST                                          | State of Texas                                                        | CUSIP: 882723ZG7<br>LEI: 549300X9CH74QB747L76 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1058760.00   | 0.31%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEHAHA CNTY SD COPS                            | County of Minnehaha SD                                                | CUSIP: 603850JK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $394748.00    | 0.12%             | 2029-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT ARPT REVENUE                    | City of Salt Lake City UT Airport Revenue                             | CUSIP: 795576HU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $547920.00    | 0.16%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OREM UT WTR SWR & STORM SWR RE                    | City of Orem UT Water Sewer & Storm Water Revenue                     | CUSIP: 686123AN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    540000 | PA      | $573517.80    | 0.17%             | 2034-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KING CNTY WA PUBLIC HOSP DIST                     | King County Public Hospital District No 1                             | CUSIP: 494782KY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1110060.00   | 0.33%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CNTY UT EXCISE TAX R                    | County of Salt Lake UT Excise Tax Revenue                             | CUSIP: 79567TBE4<br>LEI: 5493006VYRFL1AI6GT29 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1049630.00   | 0.31%             | 2031-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT PUBLIC UTILS                    | City of Salt Lake City UT Public Utilities Revenue                    | CUSIP: 795604CJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $511020.00    | 0.15%             | 2037-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MAPLETON CITY UT MUNI ENERGY S                    | City of Mapleton City UT                                              | CUSIP: 565433AF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    780000 | PA      | $733293.60    | 0.22%             | 2033-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CNTY UT CLG REVENUE                     | County of Salt Lake UT                                                | CUSIP: 79567PEJ8<br>LEI: 5493006VYRFL1AI6GT29 | Long             | DBT              | MUN               | US        |   1970000 | PA      | $2020175.90   | 0.60%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUSHLAND TX INDEP SCH DIST                        | Bushland Independent School District                                  | CUSIP: 123191FL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $1016631.00   | 0.30%             | 2029-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TH55<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $880790.00    | 0.26%             | 2046-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TJW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    285000 | PA      | $287493.75    | 0.09%             | 2024-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAINT GEORGE PLACE TX REDEV AU                    | St George Place Redevelopment Authority                               | CUSIP: 789555BS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    605000 | PA      | $624904.50    | 0.18%             | 2030-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CNTY UT CLG REVENUE                     | County of Salt Lake UT                                                | CUSIP: 79567PEM1<br>LEI: 5493006VYRFL1AI6GT29 | Long             | DBT              | MUN               | US        |   1845000 | PA      | $1907637.75   | 0.56%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST ASSOCIATED MUNI PWR SY                    | Utah Associated Municipal Power Systems                               | CUSIP: 917328RP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $469728.65    | 0.14%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INTERMOUNTAIN PWR AGY UT PWR S                    | Intermountain Power Agency                                            | CUSIP: 45884AA37<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $288460.00    | 0.09%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST MUNI PWR AGY PWR SPLY                     | Utah Municipal Power Agency                                           | CUSIP: 91756TAF8<br>LEI: 549300ZRZ5YVJ6KNNV32 | Long             | DBT              | MUN               | US        |   2900000 | PA      | $3059065.00   | 0.91%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PLEASANT GROVE CITY UTAH STORM                    | City of Pleasant Grove City UT Stormwater Revenue                     | CUSIP: 728267CL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    370000 | PA      | $392514.50    | 0.12%             | 2028-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT ARPT REVENUE                    | City of Salt Lake City UT Airport Revenue                             | CUSIP: 795576GZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1063560.00   | 0.31%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA ST HSG DEV AUTH                      | South Dakota Housing Development Authority                            | CUSIP: 83756CB95<br>LEI: 549300G853EK61667C18 | Long             | DBT              | MUN               | US        |    500000 | PA      | $450365.00    | 0.13%             | 2028-05-01      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| UTAH CNTY UT TRANSPRTN SALES T                    | County of Utah UT Transportation Sales Tax Revenue                    | CUSIP: 91739RDK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3315000 | PA      | $3438981.00   | 1.02%             | 2035-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WEBER UT ST UNIV REVENUE                          | Weber State University                                                | CUSIP: 947673GQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $830362.50    | 0.25%             | 2029-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT LOCAL BLDG A                    | Salt Lake City Local Building Authority                               | CUSIP: 795589CU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $646392.00    | 0.19%             | 2032-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GRAND CNTY SCH DIST LOCAL BLDG                    | Grand County School District Local Building Authority                 | CUSIP: 385375AP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1665000 | PA      | $1741789.80   | 0.52%             | 2034-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CNTY UT SALES TAX RE                    | County of Salt Lake UT Sales Tax Revenue                              | CUSIP: 795685GN0<br>LEI: 5493006VYRFL1AI6GT29 | Long             | DBT              | MUN               | US        |    525000 | PA      | $525803.25    | 0.16%             | 2024-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WATERTOWN SD SALES TAX REVENUE                    | City of Watertown SD Sales Tax Revenue                                | CUSIP: 94216PHC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $218777.55    | 0.06%             | 2023-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI GARDENS FL                                  | City of Miami Gardens FL                                              | CUSIP: 593561AQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031390.00   | 0.31%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EAGLE MOUNTAIN UT SALES TAX RE                    | City of Eagle Mountain City UT Sales Tax Revenue                      | CUSIP: 26970PAG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $223750.00    | 0.07%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST WTR FIN AGY REVENUE                       | Utah Water Finance Agency                                             | CUSIP: 917572ZF9<br>LEI: 5493008FZQW2WEDN4040 | Long             | DBT              | MUN               | US        |   1295000 | PA      | $1411524.10   | 0.42%             | 2038-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TV91<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $260083.20    | 0.08%             | 2024-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VANCOUVER WA HSG AUTH                             | Vancouver Housing Authority                                           | CUSIP: 921626NU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $423810.00    | 0.13%             | 2038-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| S E AK PWR AGY ELEC REVENUE                       | Southeast Alaska Power Agency                                         | CUSIP: 84131QBF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1170000 | PA      | $1215419.40   | 0.36%             | 2030-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SOUTH SALT LAKE UT REDEV AGY E                    | South Salt Lake Redevelopment Agency                                  | CUSIP: 839852AH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1046730.00   | 0.31%             | 2028-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CNTY UT MUNI BLDG AU                    | Salt Lake County Municipal Building Authority                         | CUSIP: 795681HV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    975000 | PA      | $1036308.00   | 0.31%             | 2034-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST INFRASTRUCTURE AGY TEL                    | Utah Infrastructure Agency                                            | CUSIP: 917471BG8<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |    905000 | PA      | $905832.60    | 0.27%             | 2037-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF UTAH UT REVENUES                          | University of Utah/The                                                | CUSIP: 915183WW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $505825.00    | 0.15%             | 2036-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WEBER CNTY UT SPL ASSMNT                          | County of Weber UT                                                    | CUSIP: 947664AV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3935000 | PA      | $3941335.35   | 1.17%             | 2033-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PENNINGTON CNTY SD COPS                           | County of Pennington SD                                               | CUSIP: 708292LS4<br>LEI: 5493002VJKRPNCQRDW60 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1048560.00   | 0.31%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEHI UT FRANCHISE & SALES TAX                     | City of Lehi UT Sales Tax Revenue                                     | CUSIP: 52469SAJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1075400.00   | 0.32%             | 2032-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF UTAH UT REVENUES                          | University of Utah/The                                                | CUSIP: 915183YN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $549835.00    | 0.16%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST UNIV REVENUE                              | Utah State University                                                 | CUSIP: 917563EZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1355000 | PA      | $1366368.45   | 0.40%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FL TOURIST DEV TAX                    | Orange County Convention Center/Orlando                               | CUSIP: 684545YV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1050390.00   | 0.31%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MURRAY CITY UT MUNI BLDG AUTH                     | Murray City Municipal Building Authority                              | CUSIP: 626857CF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    380000 | PA      | $408724.20    | 0.12%             | 2030-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH CNTY UT EXCISE TAX REVENU                    | County of Utah UT Excise Tax Revenue                                  | CUSIP: 917343CP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1690000 | PA      | $1726149.10   | 0.51%             | 2036-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DUCHESNE UT SCH DIST MUNI BLDG                    | Duchesne County School District                                       | CUSIP: 26410TAQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $798135.00    | 0.24%             | 2036-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST HSG CORP SF MTGE REVEN                    | Utah Housing Corp                                                     | CUSIP: 917436V53<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |     10000 | PA      | $10002.90     | 0.00%             | 2024-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UTAH ST HSG CORP SF MTGE REVEN                    | Utah Housing Corp                                                     | CUSIP: 917436W37<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |    640000 | PA      | $640371.20    | 0.19%             | 2034-07-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| CNTRL VLY WTR RECLAMATION FAC                     | Central Valley Water Reclamation Facility                             | CUSIP: 155796AM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1255000 | PA      | $1237329.60   | 0.37%             | 2033-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BREVARD CNTY FL HLTH FACS AUTH                    | Brevard County Health Facilities Authority                            | CUSIP: 10741LDF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $764175.00    | 0.23%             | 2030-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST BRD OF RGTS LEASE REVE                    | Utah Board of Higher Education                                        | CUSIP: 91754GBR1<br>LEI: 549300SAYC054T80UK17 | Long             | DBT              | MUN               | US        |    120000 | PA      | $120134.40    | 0.04%             | 2023-05-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TJ95<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1710000 | PA      | $1755058.50   | 0.52%             | 2029-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST TRANSIT AUTH SALES TAX                    | Utah Transit Authority                                                | CUSIP: 917567ET2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3440000 | PA      | $3468208.00   | 1.03%             | 2037-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT ARPT REVENUE                    | City of Salt Lake City UT Airport Revenue                             | CUSIP: 795576FP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3100000 | PA      | $3263184.00   | 0.97%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT ARPT REVENUE                    | City of Salt Lake City UT Airport Revenue                             | CUSIP: 795576FY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005420.00   | 0.30%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST ASSOCIATED MUNI PWR SY                    | Utah Associated Municipal Power Systems                               | CUSIP: 917328RN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $775687.50    | 0.23%             | 2024-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TJX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    855000 | PA      | $877914.00    | 0.26%             | 2029-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TF40<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1395336.25   | 0.41%             | 2030-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT MOSQUITO ABA                    | Salt Lake City Mosquito Abatement District Local Building Authority   | CUSIP: 79559PAK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    730000 | PA      | $796517.60    | 0.24%             | 2029-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST HSG CORP SF MTGE REVEN                    | Utah Housing Corp                                                     | CUSIP: 917436X69<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |     25000 | PA      | $25018.25     | 0.01%             | 2032-07-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| SOUTH SALT LAKE UT REDEV AGY E                    | South Salt Lake Redevelopment Agency                                  | CUSIP: 839852AJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1035000 | PA      | $1091542.05   | 0.32%             | 2029-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASHOE CNTY NV SCH DIST                           | Washoe County School District/NV                                      | CUSIP: 940859HV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1038940.00   | 0.31%             | 2034-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PORT OLYMPIA WA                                   | Port of Olympia WA                                                    | CUSIP: 735014KW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1385000 | PA      | $1515009.95   | 0.45%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DAVIS CNTY UT MUNI BLDG AUTH L                    | Davis County Municipal Building Authority                             | CUSIP: 239007DE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1156360.45   | 0.34%             | 2032-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RENO NV                                           | City of Reno NV                                                       | CUSIP: 759829A46<br>LEI: 549300M4R5WWSUWY8D52 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006840.00   | 0.30%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALPINE UT SCH DIST LOCAL BLDG                     | Local Building Authority of Alpine School District                    | CUSIP: 02108TAJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    985000 | PA      | $1033727.95   | 0.31%             | 2028-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEHI UT LOCAL BLDG AUTH LEASE                     | Lehi Local Building Authority                                         | CUSIP: 52475CAF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $334938.00    | 0.10%             | 2029-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIDVALE UT REDEV AGY TAX INCR                     | Midvale Redevelopment Agency                                          | CUSIP: 598113BQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1230000 | PA      | $1341794.70   | 0.40%             | 2031-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT LOCAL BLDG A                    | Salt Lake City Local Building Authority                               | CUSIP: 795589CA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    395000 | PA      | $407612.35    | 0.12%             | 2032-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WEST UNIV PLACE TX                                | City of West University Place TX                                      | CUSIP: 956398VK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    535000 | PA      | $571545.85    | 0.17%             | 2026-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT ARPT REVENUE                    | City of Salt Lake City UT Airport Revenue                             | CUSIP: 795576FL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    640000 | PA      | $679328.00    | 0.20%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT LOCAL BLDG A                    | Salt Lake City Local Building Authority                               | CUSIP: 795589CE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    460000 | PA      | $464917.40    | 0.14%             | 2036-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TSX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    820000 | PA      | $820041.00    | 0.24%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOOPER WTR IMPT DIST UT WTR RE                    | Hooper Water Improvement District                                     | CUSIP: 439124AN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $220391.60    | 0.07%             | 2039-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TFC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $702870.00    | 0.21%             | 2036-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TJZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1095000 | PA      | $1111895.85   | 0.33%             | 2038-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KING CNTY WA HSG AUTH                             | King County Housing Authority                                         | CUSIP: 494759PW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    910000 | PA      | $926279.90    | 0.27%             | 2036-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CENTRL UT WTR CONSERVANCY DIST                    | Central Utah Water Conservancy District                               | CUSIP: 15567RBV4<br>LEI: 5493001AT8W3NBIEDB45 | Long             | DBT              | MUN               | US        |   1785000 | PA      | $1994434.05   | 0.59%             | 2037-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY-HOUSTON TX SPORTS                     | Harris County-Houston Sports Authority                                | CUSIP: 413890DE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $512775.00    | 0.15%             | 2030-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NV SCH DIST                            | Clark County School District                                          | CUSIP: 181059B88<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1091120.00   | 0.32%             | 2035-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT ARPT REVENUE                    | City of Salt Lake City UT Airport Revenue                             | CUSIP: 795576JM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1073820.00   | 0.32%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT GEORGE UT ELEC REVENUE                      | City of St George UT Electric Revenue                                 | CUSIP: 78955PCT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1620000 | PA      | $1675128.60   | 0.50%             | 2032-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST WTR FIN AGY REVENUE                       | Utah Water Finance Agency                                             | CUSIP: 917572XU8<br>LEI: 5493008FZQW2WEDN4040 | Long             | DBT              | MUN               | US        |    950000 | PA      | $986613.00    | 0.29%             | 2033-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST TRANSIT AUTH SALES TAX                    | Utah Transit Authority                                                | CUSIP: 917567EQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2950000 | PA      | $3092190.00   | 0.92%             | 2034-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WATERTOWN SD SALES TAX REVENUE                    | City of Watertown SD Sales Tax Revenue                                | CUSIP: 94216PGU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1110000 | PA      | $1046785.50   | 0.31%             | 2034-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST                                          | State of Texas                                                        | CUSIP: 882723XN4<br>LEI: 549300X9CH74QB747L76 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1056560.00   | 0.31%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MURRAY CITY UT MUNI BLDG AUTH                     | Murray City Municipal Building Authority                              | CUSIP: 626857CG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    480000 | PA      | $513384.00    | 0.15%             | 2031-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Dreyfus Treasury Obligations Cash Management Fund | Dreyfus Treasury Obligations Cash Management Fund                     | CUSIP: 261908107<br>LEI: 549300MKKM9KT7BF6329 | Long             | STIV             | RF                | US        |    569810 | NS      | $569810.03    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| HEBER UT LIGHT & PWR COMPANY E                    | Heber Light & Power Co                                                | CUSIP: 42249TDB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $513045.00    | 0.15%             | 2036-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WEATHERFORD TX INDEP SCH DIST                     | Weatherford Independent School District                               | CUSIP: 947134YK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $363700.60    | 0.11%             | 2023-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ALASKA ST MUNI BOND BANK AUTH                     | Alaska Municipal Bond Bank Authority                                  | CUSIP: 01179RYR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    565000 | PA      | $596741.70    | 0.18%             | 2031-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OKALOOSA CNTY FL WTR & SWR REV                    | County of Okaloosa FL Water & Sewer Revenue                           | CUSIP: 678252FT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1050710.00   | 0.31%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEATHERFORD TX INDEP SCH DIST                     | Weatherford Independent School District                               | CUSIP: 947134YQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $451416.90    | 0.13%             | 2028-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WEST VLY CITY UT MUNI BLDG AUT                    | West Valley City Municipal Building Authority                         | CUSIP: 95640EHN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $923868.00    | 0.27%             | 2033-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TX ELEC & GAS REVE                    | City of San Antonio TX Electric & Gas Systems Revenue                 | CUSIP: 7962534V1<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1284262.50   | 0.38%             | 2033-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CENTRL UT WTR CONSERVANCY DIST                    | Central Utah Water Conservancy District                               | CUSIP: 15567RBW2<br>LEI: 5493001AT8W3NBIEDB45 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011980.00   | 0.30%             | 2038-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BROWARD CNTY FL PORT FACS REVE                    | County of Broward FL Port Facilities Revenue                          | CUSIP: 11506KFG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $975440.00    | 0.29%             | 2038-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MANATEE CNTY FL REVENUE                           | County of Manatee FL                                                  | CUSIP: 561852GX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $589375.00    | 0.17%             | 2034-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UTAH ST BRD OF RGTS REVENUE                       | Utah Board of Higher Education                                        | CUSIP: 91754RYW1<br>LEI: 549300SAYC054T80UK17 | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1878624.00   | 0.56%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAPLETON CITY UT MUNI ENERGY S                    | City of Mapleton City UT                                              | CUSIP: 565433AG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1255000 | PA      | $1115167.90   | 0.33%             | 2036-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HGR EDU FACS AUT                    | Washington Higher Education Facilities Authority                      | CUSIP: 939781U24<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    645000 | PA      | $682210.05    | 0.20%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL AVIATION RE                    | County of Miami-Dade FL Aviation Revenue                              | CUSIP: 59333PL71<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010910.00   | 0.30%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TKD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3280000 | PA      | $3280262.40   | 0.97%             | 2044-11-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| WYLIE TX INDEP SCH DIST                           | Wylie Independent School District                                     | CUSIP: 983068Y50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $712030.00    | 0.21%             | 2032-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST BRD OF RGTS REVENUE                       | Utah Board of Higher Education                                        | CUSIP: 91754RB63<br>LEI: 549300SAYC054T80UK17 | Long             | DBT              | MUN               | US        |   1295000 | PA      | $1355023.25   | 0.40%             | 2026-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST INFRASTRUCTURE AGY TEL                    | Utah Infrastructure Agency                                            | CUSIP: 917466CH5<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |    485000 | PA      | $525764.25    | 0.16%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TE58<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    655000 | PA      | $649982.70    | 0.19%             | 2034-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DOWNTOWN REDEV AUTH TX TAX INC                    | Main Street Market Square Redevelopment Authority                     | CUSIP: 26118RAK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1055480.00   | 0.31%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CIVICVENTURES AK                                  | CIVICVentures/AK                                                      | CUSIP: 178860BS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1021020.00   | 0.30%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TV83<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $150057.00    | 0.04%             | 2023-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST BRD OF RGTS REVENUE                       | Utah Board of Higher Education                                        | CUSIP: 91754RK97<br>LEI: 549300SAYC054T80UK17 | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1219652.50   | 0.36%             | 2036-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| HERRIMAN CITY UT WTR REVENUE                      | City of Herriman City UT Water Revenue                                | CUSIP: 42775PCV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $155914.50    | 0.05%             | 2035-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST TRANSIT AUTH SALES TAX                    | Utah Transit Authority                                                | CUSIP: 917567DP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1105330.00   | 0.33%             | 2032-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NV ARPT REVENUE                        | County of Clark Department of Aviation                                | CUSIP: 18085PSU9<br>LEI: 549300LDD8NZB2EOVG83 | Long             | DBT              | MUN               | US        |    745000 | PA      | $784105.05    | 0.23%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST INFRASTRUCTURE AGY LAY                    | Utah Infrastructure Agency                                            | CUSIP: 917462AK9<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |    500000 | PA      | $548010.00    | 0.16%             | 2030-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLUFFDALE UT LOCAL BLDG AUTH L                    | Bluffdale Local Building Authority                                    | CUSIP: 09627CAU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1215000 | PA      | $1221536.70   | 0.36%             | 2035-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CANYONS SCH DIST LOCAL BLDG AU                    | Canyons School District Local Building Authority                      | CUSIP: 139083AM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $788167.50    | 0.23%             | 2034-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT ARPT REVENUE                    | City of Salt Lake City UT Airport Revenue                             | CUSIP: 795576GW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1050470.00   | 0.31%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASATCH CNTY UT MUNI BLDG AUTH                    | Wasatch County Municipal Building Authority                           | CUSIP: 936778CP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    605000 | PA      | $650883.20    | 0.19%             | 2030-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONSOL MUNI ELEC PWR SYS WY JT                    | Consolidated Municipalities Electric Power Systems Joint Powers Board | CUSIP: 210295EU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $280302.50    | 0.08%             | 2037-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LEHI UT FRANCHISE & SALES TAX                     | City of Lehi UT Sales Tax Revenue                                     | CUSIP: 52469SAK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1075220.00   | 0.32%             | 2033-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| W VLY CITY UT REDEV AGY REVENU                    | West Valley City Redevelopment Agency                                 | CUSIP: 95641RAR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1885000 | PA      | $2009296.90   | 0.59%             | 2036-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OGDEN CITY UT SCH DIST MUNI BL                    | Ogden City School District Municipal Building Authority               | CUSIP: 676303CJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1228556.25   | 0.36%             | 2030-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRIAN HEAD UT WTR REVENUE                         | Town of Brian Head UT Water Revenue                                   | CUSIP: 10778CAL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    720000 | PA      | $646430.40    | 0.19%             | 2036-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TSY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2440000 | PA      | $2440024.40   | 0.72%             | 2037-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WYOMING ST MUNI PWR AGY PWR SP                    | Wyoming Municipal Power Agency Inc                                    | CUSIP: 983366DV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    665000 | PA      | $720254.85    | 0.21%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| S JORDAN UT SPL ASSMNT                            | City of South Jordan UT                                               | CUSIP: 83854MAR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1210000 | PA      | $1264280.60   | 0.37%             | 2028-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TE41<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $624300.00    | 0.18%             | 2033-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| W VLY CITY UT SALES TAX REVENU                    | City of West Valley City UT Sales Tax Revenue                         | CUSIP: 95640TCS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $1883035.00   | 0.56%             | 2035-07-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TKC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1655000 | PA      | $1655281.35   | 0.49%             | 2034-11-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| MURRAY CITY UT MUNI BLDG AUTH                     | Murray City Municipal Building Authority                              | CUSIP: 626857CH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $319953.00    | 0.09%             | 2032-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| W JORDAN UT MUNI BLDG AUTH LEA                    | West Jordan Municipal Building Authority                              | CUSIP: 953527CE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1073380.00   | 0.32%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA ST HSG DEV AUTH                      | South Dakota Housing Development Authority                            | CUSIP: 83756CB53<br>LEI: 549300G853EK61667C18 | Long             | DBT              | MUN               | US        |    250000 | PA      | $230597.50    | 0.07%             | 2026-05-01      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF UTAH UT REVENUES                          | University of Utah/The                                                | CUSIP: 915183XW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1599180.00   | 0.47%             | 2036-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEHI UT ELEC UTILITY REVENUE                      | City of Lehi UT Electric Revenue                                      | CUSIP: 524684DF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $941613.00    | 0.28%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DUCHESNE UT SCH DIST MUNI BLDG                    | Duchesne County School District                                       | CUSIP: 26410TAS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $714037.50    | 0.21%             | 2038-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CNTY UT CLG REVENUE                     | County of Salt Lake UT                                                | CUSIP: 79567PDZ3<br>LEI: 5493006VYRFL1AI6GT29 | Long             | DBT              | MUN               | US        |   1055000 | PA      | $1078294.40   | 0.32%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON CNTY UT MUNI BLDG A                    | Washington County Municipal Building Authority                        | CUSIP: 938714BE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $531395.00    | 0.16%             | 2037-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST TRANSIT AUTH SALES TAX                    | Utah Transit Authority                                                | CUSIP: 917567FB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1560000 | PA      | $1650370.80   | 0.49%             | 2037-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TNC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1519200.00   | 0.45%             | 2035-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIF FIRE SVC AREA UT LOCAL BL                    | Unified Fire Service Area                                             | CUSIP: 90470PBD7<br>LEI: 549300TUIG1YUHRDJ718 | Long             | DBT              | MUN               | US        |   1875000 | PA      | $1980393.75   | 0.59%             | 2032-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WEBER UT ST UNIV REVENUE                          | Weber State University                                                | CUSIP: 947673JA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $917690.00    | 0.27%             | 2035-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX ARPT SYS REVENUE                       | City of Houston TX Airport System Revenue                             | CUSIP: 442349CE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1064080.00   | 0.31%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIF FIRE SVC AREA UT LOCAL BL                    | Unified Fire Service Area                                             | CUSIP: 90470PAQ9<br>LEI: 549300TUIG1YUHRDJ718 | Long             | DBT              | MUN               | US        |   2350000 | PA      | $2423531.50   | 0.72%             | 2032-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BROWNSVILLE TX                                    | City of Brownsville TX                                                | CUSIP: 116405QW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $532215.00    | 0.16%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIF FIRE SVC AREA UT LOCAL BL                    | Unified Fire Service Area                                             | CUSIP: 90470PBC9<br>LEI: 549300TUIG1YUHRDJ718 | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1919394.00   | 0.57%             | 2031-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASATCH CNTY UT MUNI BLDG AUTH                    | Wasatch County Municipal Building Authority                           | CUSIP: 936778CM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    560000 | PA      | $594602.40    | 0.18%             | 2028-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WILLISTON ND ARPT REVENUE                         | City of Williston ND                                                  | CUSIP: 970702AJ5<br>LEI: 549300OH2M7EXI24C405 | Long             | DBT              | MUN               | US        |   2365000 | PA      | $2384298.40   | 0.71%             | 2028-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TWB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $535200.00    | 0.16%             | 2027-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST INFRASTRUCTURE AGY TEL                    | Utah Infrastructure Agency                                            | CUSIP: 917472AJ1<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1341060.00   | 0.40%             | 2035-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DEUEL SD SCH DIST #19-4                           | Deuel School District No 19-4                                         | CUSIP: 251500BJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $787990.00    | 0.23%             | 2029-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| HOLLADAY UT SALES TAX REVENUE                     | City of Holladay UT Sales & Use Tax Revenue                           | CUSIP: 43510MBT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1151750.00   | 0.34%             | 2033-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TJY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1095000 | PA      | $1118049.75   | 0.33%             | 2034-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EL PASO TX WTR & SWR REVENUE                      | City of El Paso TX Water & Sewer Revenue                              | CUSIP: 283822LC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1032660.00   | 0.31%             | 2031-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CNTRL VLY WTR RECLAMATION FAC                     | Central Valley Water Reclamation Facility                             | CUSIP: 155796AN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1090000 | PA      | $1067960.20   | 0.32%             | 2034-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SAN JACINTO RIVER TX AUTH                         | San Jacinto River Authority                                           | CUSIP: 798055TQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010500.00   | 0.30%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEHI UT ELEC UTILITY REVENUE                      | City of Lehi UT Electric Revenue                                      | CUSIP: 524684DD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    520000 | PA      | $576778.80    | 0.17%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOOELE CNTY UT MUNI BLDG AUTH                     | Tooele County Municipal Building Authority                            | CUSIP: 890342AX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    885000 | PA      | $933427.20    | 0.28%             | 2029-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WEST VLY CITY UT MUNI BLDG AUT                    | West Valley City Municipal Building Authority                         | CUSIP: 95640EKA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $331152.00    | 0.10%             | 2034-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEWIS & THURSTON CNTYS WA SCH                     | Lewis & Thurston Counties School District No 401 Centralia            | CUSIP: 527665AW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1230000 | PA      | $1313701.50   | 0.39%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST INFRASTRUCTURE AGY TEL                    | Utah Infrastructure Agency                                            | CUSIP: 917466CR3<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |    335000 | PA      | $358208.80    | 0.11%             | 2026-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| W HARRIS CNTY TX REGL WTR AUTH                    | West Harris County Regional Water Authority                           | CUSIP: 95308RLE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    815000 | PA      | $863101.30    | 0.26%             | 2026-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT PUBLIC UTILS                    | City of Salt Lake City UT Public Utilities Revenue                    | CUSIP: 795604BK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $506205.00    | 0.15%             | 2038-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MISSION TX                                        | City of Mission TX                                                    | CUSIP: 605128UU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $319035.00    | 0.09%             | 2032-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WEBER CNTY UT SPL ASSMNT                          | County of Weber UT                                                    | CUSIP: 947664AU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1520000 | PA      | $1522477.60   | 0.45%             | 2028-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UTAH ST BRD OF RGTS REVENUE                       | Utah Board of Higher Education                                        | CUSIP: 91754RA23<br>LEI: 549300SAYC054T80UK17 | Long             | DBT              | MUN               | US        |    690000 | PA      | $742453.80    | 0.22%             | 2036-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT ARPT REVENUE                    | City of Salt Lake City UT Airport Revenue                             | CUSIP: 795576GY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1069490.00   | 0.32%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TUM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $512550.00    | 0.15%             | 2037-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VINEYARD REDEV AGY UT TAX INCR                    | Vineyard Redevelopment Agency                                         | CUSIP: 92743FBV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $369918.50    | 0.11%             | 2033-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CIVICVENTURES AK                                  | CIVICVentures/AK                                                      | CUSIP: 178860BT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020520.00   | 0.30%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CANYONS UT SCH DIST                               | Canyons School District                                               | CUSIP: 139078GU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1172060.00   | 0.35%             | 2031-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WINK LOVING TX INDEP SCH DIST                     | Wink-Loving Independent School District                               | CUSIP: 974170DR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300666.00    | 0.09%             | 2025-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST GOVTL UTILITY AUTHU                    | Florida Governmental Utility Authority                                | CUSIP: 34281PRH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $517910.00    | 0.15%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TWC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $507271.50    | 0.15%             | 2028-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WATERTOWN SD SALES TAX REVENUE                    | City of Watertown SD Sales Tax Revenue                                | CUSIP: 94216PHD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    335000 | PA      | $348426.80    | 0.10%             | 2024-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TZS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1080000 | PA      | $1057168.80   | 0.31%             | 2035-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST INFRASTRUCTURE AGY TEL                    | Utah Infrastructure Agency                                            | CUSIP: 917466CQ5<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |    315000 | PA      | $331197.30    | 0.10%             | 2025-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RIO GRANDE CITY TX                                | City of Rio Grande City TX                                            | CUSIP: 76705NKR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    855000 | PA      | $894800.25    | 0.26%             | 2033-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TKB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $233582.95    | 0.07%             | 2024-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| WEST VLY CITY UT MUNI BLDG AUT                    | West Valley City Municipal Building Authority                         | CUSIP: 95640EJE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1063260.00   | 0.31%             | 2034-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| USF FING CORP FL COPS                             | USF Financing Corp                                                    | CUSIP: 90341UDM1<br>LEI: 549300P9Y92T23EMUI42 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1050390.00   | 0.31%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST INFRASTRUCTURE AGY TEL                    | Utah Infrastructure Agency                                            | CUSIP: 917471BH6<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1104491.25   | 0.33%             | 2042-10-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TVZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $522850.00    | 0.15%             | 2025-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF UTAH UT REVENUES                          | University of Utah/The                                                | CUSIP: 915183XV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1068920.00   | 0.32%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CNTRL VLY WTR RECLAMATION FAC                     | Central Valley Water Reclamation Facility                             | CUSIP: 155796AL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1215000 | PA      | $1203664.05   | 0.36%             | 2032-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TJ87<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $302298.00    | 0.09%             | 2024-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NV SCH DIST                            | Clark County School District                                          | CUSIP: 181059UA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1645000 | PA      | $1745081.80   | 0.52%             | 2028-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEHI UT FRANCHISE & SALES TAX                     | City of Lehi UT Sales Tax Revenue                                     | CUSIP: 52469SAL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $533175.00    | 0.16%             | 2034-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HERRIMAN CITY UT SALES & FRANC                    | City of Herriman City UT                                              | CUSIP: 427754BT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1080000 | PA      | $1095562.80   | 0.32%             | 2025-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MIDVALE UT REDEV AGY TAX INCR                     | Midvale Redevelopment Agency                                          | CUSIP: 598113BD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1074290.00   | 0.32%             | 2032-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| S JORDAN UT SPL ASSMNT                            | City of South Jordan UT                                               | CUSIP: 83854MAQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    960000 | PA      | $1003200.00   | 0.30%             | 2027-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SUMMIT CNTY UT TRANSPRTN SALES                    | Summit County UT Transportation Sales Tax Revenue                     | CUSIP: 86607RAM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1510798.50   | 0.45%             | 2029-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EAGLE MOUNTAIN UT WTR & SWR RE                    | City of Eagle Mountain City UT Water & Sewer Revenue                  | CUSIP: 26970TCW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    420000 | PA      | $429592.80    | 0.13%             | 2024-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HLTH CARE FACS A                    | Washington Health Care Facilities Authority                           | CUSIP: 93978HFW0<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3974440.00   | 1.18%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OLD SPANISH TRAIL-ALMEDA CORRI                    | Old Spanish Trail-Alemda Corridors Redevelopment Authority            | CUSIP: 68029NCD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1041030.00   | 0.31%             | 2035-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT ARPT REVENUE                    | City of Salt Lake City UT Airport Revenue                             | CUSIP: 795576GX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1061020.00   | 0.31%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEHI UT LOCAL BLDG AUTH LEASE                     | Lehi Local Building Authority                                         | CUSIP: 52475CAP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $253325.25    | 0.07%             | 2037-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| JORDAN VLY UT WTR CONSERVANCY                     | Jordan Valley Water Conservancy District                              | CUSIP: 480780JP1<br>LEI: 549300FO664B0R46Z431 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1044420.00   | 0.31%             | 2032-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT LOCAL BLDG A                    | Salt Lake City Local Building Authority                               | CUSIP: 795589CV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1075000 | PA      | $1150099.50   | 0.34%             | 2035-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONSOL MUNI ELEC PWR SYS WY JT                    | Consolidated Municipalities Electric Power Systems Joint Powers Board | CUSIP: 210295DX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1026100.00   | 0.30%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST INFRASTRUCTURE AGY TEL                    | Utah Infrastructure Agency                                            | CUSIP: 917471BF0<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |   1230000 | PA      | $1285030.20   | 0.38%             | 2032-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MIDVALE UT REDEV AGY TAX INCR                     | Midvale Redevelopment Agency                                          | CUSIP: 598113BA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $810442.50    | 0.24%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INTERMOUNTAIN PWR AGY UT PWR S                    | Intermountain Power Agency                                            | CUSIP: 45884AA60<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $435615.00    | 0.13%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RENO NV SALES TAX REVENUE                         | City of Reno NV                                                       | CUSIP: 759861DC8<br>LEI: 549300M4R5WWSUWY8D52 | Long             | DBT              | MUN               | US        |    500000 | PA      | $523185.00    | 0.15%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST BLDG OWNERSHIP AUTH LE                    | Utah State Building Ownership Authority                               | CUSIP: 917547A27<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    905000 | PA      | $955770.50    | 0.28%             | 2029-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TGT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1016790.00   | 0.30%             | 2037-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VINEYARD REDEV AGY UT TAX INCR                    | Vineyard Redevelopment Agency                                         | CUSIP: 92743FBM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $786195.00    | 0.23%             | 2025-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| S JORDAN UT REDEV AGY SALES TA                    | South Jordan Redevelopment Agency                                     | CUSIP: 83854QAM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1046890.00   | 0.31%             | 2029-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NV                                     | County of Clark NV                                                    | CUSIP: 180848F81<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $877190.00    | 0.26%             | 2038-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| LAKEWOOD WA WTR DIST                              | Lakewood Water District/WA                                            | CUSIP: 512714EW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $751575.00    | 0.22%             | 2037-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GTR ORLANDO FL AVIATION AUTH A                    | Greater Orlando Aviation Authority                                    | CUSIP: 392275AX1<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |    675000 | PA      | $740049.75    | 0.22%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET WASHINGTON DC ARPTS AUTH A                    | Metropolitan Washington Airports Authority Aviation Revenue           | CUSIP: 592647GK1<br>LEI: 7HERAVJJLN8J1DZ6AZ19 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1045350.00   | 0.31%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WATERTOWN SD SALES TAX REVENUE                    | City of Watertown SD Sales Tax Revenue                                | CUSIP: 94216PHE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $371395.50    | 0.11%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RIVERTON CITY UT FRANCHISE SAL                    | City of Riverton UT                                                   | CUSIP: 769326EB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $656110.00    | 0.19%             | 2036-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TQ48<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $960810.00    | 0.28%             | 2037-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JORDAN VLY UT WTR CONSERVANCY                     | Jordan Valley Water Conservancy District                              | CUSIP: 480780JH9<br>LEI: 549300FO664B0R46Z431 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1085210.00   | 0.32%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRL UT WTR CONSERVANCY DIST                    | Central Utah Water Conservancy District                               | CUSIP: 155674KU7<br>LEI: 5493001AT8W3NBIEDB45 | Long             | DBT              | MUN               | US        |    700000 | PA      | $834204.00    | 0.25%             | 2034-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EAGLE MOUNTAIN UT SPL ASSMNT                      | City of Eagle Mountain City UT                                        | CUSIP: 26970UBS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    165000 | PA      | $165787.05    | 0.05%             | 2028-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UTAH ST HSG CORP SF MTGE REVEN                    | Utah Housing Corp                                                     | CUSIP: 917436P76<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |      5000 | PA      | $5000.00      | 0.00%             | 2023-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WEST VLY CITY UT MUNI BLDG AUT                    | West Valley City Municipal Building Authority                         | CUSIP: 95640EHP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    810000 | PA      | $812770.20    | 0.24%             | 2038-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST HSG CORP SF MTGE REVEN                    | Utah Housing Corp                                                     | CUSIP: 9174366W2<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |   1930000 | PA      | $1894623.10   | 0.56%             | 2031-01-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| CIVICVENTURES AK                                  | CIVICVentures/AK                                                      | CUSIP: 178860BR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1021020.00   | 0.30%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HERRIMAN CITY UT SALES & FRANC                    | City of Herriman City UT                                              | CUSIP: 427754BV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1515000 | PA      | $1585659.60   | 0.47%             | 2033-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL TRANSIT SAL                    | County of Miami-Dade FL Transit System                                | CUSIP: 59334PFQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1047270.00   | 0.31%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OGDEN CITY UT FRANCHISE TAX RE                    | City of Ogden City UT                                                 | CUSIP: 676281AK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1625000 | PA      | $1599747.50   | 0.47%             | 2031-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GRANT CNTY WA SCH DIST #161 MO                    | Grant County School District No 161 Moses Lake                        | CUSIP: 388046LG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $414588.00    | 0.12%             | 2035-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PLEASANT GROVE CITY UTAH STORM                    | City of Pleasant Grove City UT Stormwater Revenue                     | CUSIP: 728267CM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    485000 | PA      | $519207.05    | 0.15%             | 2029-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BROWNSVILLE TX                                    | City of Brownsville TX                                                | CUSIP: 116405XK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $532400.00    | 0.16%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HEBER UT LIGHT & PWR COMPANY E                    | Heber Light & Power Co                                                | CUSIP: 42249TDD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    645000 | PA      | $650276.10    | 0.19%             | 2038-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DRAPER UT SALES TAX REVENUE                       | City of Draper UT Sales & Use Tax Revenue                             | CUSIP: 26145TDP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    765000 | PA      | $778341.60    | 0.23%             | 2039-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEHI UT FRANCHISE & SALES TAX                     | City of Lehi UT Sales Tax Revenue                                     | CUSIP: 52469SAM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $525995.00    | 0.16%             | 2035-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VANCOUVER WA HSG AUTH                             | Vancouver Housing Authority                                           | CUSIP: 921626NT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $499315.00    | 0.15%             | 2035-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST ASSOCIATED MUNI PWR SY                    | Utah Associated Municipal Power Systems                               | CUSIP: 917328RE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    795000 | PA      | $823556.40    | 0.24%             | 2030-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| S JORDAN UT SPL ASSMNT                            | City of South Jordan UT                                               | CUSIP: 83854MAT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1096599.00   | 0.32%             | 2030-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST TRANSIT AUTH SALES TAX                    | Utah Transit Authority                                                | CUSIP: 917567EU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3580000 | PA      | $3598437.00   | 1.07%             | 2038-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST BLDG OWNERSHIP AUTH LE                    | Utah State Building Ownership Authority                               | CUSIP: 917547VQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1030200.00   | 0.30%             | 2024-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JACKSONVILLE FL SPL REVENUE                       | City of Jacksonville FL                                               | CUSIP: 469487HN5<br>LEI: 549300XQE0JVN9WV0J40 | Long             | DBT              | MUN               | US        |   1015000 | PA      | $1030864.45   | 0.31%             | 2032-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UTAH ST INFRASTRUCTURE AGY TEL                    | Utah Infrastructure Agency                                            | CUSIP: 917466CS1<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |    350000 | PA      | $379302.00    | 0.11%             | 2027-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST ASSOCIATED MUNI PWR SY                    | Utah Associated Municipal Power Systems                               | CUSIP: 917328RJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    745000 | PA      | $769875.55    | 0.23%             | 2034-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PLEASANT GROVE CITY UTAH STORM                    | City of Pleasant Grove City UT Stormwater Revenue                     | CUSIP: 728267CP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $558668.25    | 0.17%             | 2031-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOWER COLORADO RIVER TX AUTH T                    | Lower Colorado River Authority                                        | CUSIP: 54811BPP0<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1045140.00   | 0.31%             | 2030-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TJ20<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    820000 | PA      | $852619.60    | 0.25%             | 2029-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PROVIDENCE CITY UT FRANCHISE &                    | City of Providence UT Franchise & Sales Tax Revenue                   | CUSIP: 74373DAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1270000 | PA      | $1227277.20   | 0.36%             | 2029-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ALVIN TX INDEP SCH DIST                           | Alvin Independent School District/TX                                  | CUSIP: 022447N77<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $144082.40    | 0.04%             | 2034-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NV SCH DIST                            | Clark County School District                                          | CUSIP: 181059K47<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1267710.00   | 0.38%             | 2037-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA ST BRD OF RGTS HS                    | South Dakota Board of Regents Housing & Auxiliary Facilities System   | CUSIP: 837542GV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $536135.00    | 0.16%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PLEASANT GROVE CITY UTAH STORM                    | City of Pleasant Grove City UT Stormwater Revenue                     | CUSIP: 728267CK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    205000 | PA      | $215401.70    | 0.06%             | 2027-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEANDER TX INDEP SCH DIST                         | Leander Independent School District                                   | CUSIP: 521841DS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2035000 | PA      | $554334.00    | 0.16%             | 2047-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WEBER UT ST UNIV REVENUE                          | Weber State University                                                | CUSIP: 947673GR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $223710.00    | 0.07%             | 2030-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA ST HSG DEV AUTH                      | South Dakota Housing Development Authority                            | CUSIP: 83756CC29<br>LEI: 549300G853EK61667C18 | Long             | DBT              | MUN               | US        |    500000 | PA      | $447420.00    | 0.13%             | 2028-11-01      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| UTAH ST WTR FIN AGY REVENUE                       | Utah Water Finance Agency                                             | CUSIP: 917572WU9<br>LEI: 5493008FZQW2WEDN4040 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1076500.00   | 0.32%             | 2035-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| W JORDAN UT MUNI BLDG AUTH LEA                    | West Jordan Municipal Building Authority                              | CUSIP: 953527CK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1066420.00   | 0.32%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHARR TX INTL TOLL BRIDGE SYST                    | City of Pharr TX Toll Bridge Revenue                                  | CUSIP: 717194AL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001450.00   | 0.30%             | 2035-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JORDANELLE UT SPL SVC DIST COP                    | Jordanelle Special Service District                                   | CUSIP: 480798AK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    299000 | PA      | $296332.92    | 0.09%             | 2023-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HOLLADAY UT SALES TAX REVENUE                     | City of Holladay UT Sales & Use Tax Revenue                           | CUSIP: 43510MBP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    965000 | PA      | $1095873.30   | 0.32%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OGDEN CITY UT SCH DIST MUNI BL                    | Ogden City School District Municipal Building Authority               | CUSIP: 676303CL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $542470.00    | 0.16%             | 2032-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEWIS CNTY WA SCH DIST #302 CH                    | Lewis County School District No 302 Chehalis                          | CUSIP: 527860ES5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1043440.00   | 0.31%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WATERTOWN SD SALES TAX REVENUE                    | City of Watertown SD Sales Tax Revenue                                | CUSIP: 94216PKQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $869459.25    | 0.26%             | 2033-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF UTAH UT REVENUES                          | University of Utah/The                                                | CUSIP: 915183Z91<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1122320.00   | 0.33%             | 2039-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TMH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1336738.00   | 0.40%             | 2035-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST BRD OF RGTS REVENUE                       | Utah Board of Higher Education                                        | CUSIP: 91754RB71<br>LEI: 549300SAYC054T80UK17 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1044860.00   | 0.31%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OGDEN CITY UT SCH DIST MUNI BL                    | Ogden City School District Municipal Building Authority               | CUSIP: 676303BV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1315000 | PA      | $1335947.95   | 0.40%             | 2031-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST UNIV REVENUE                              | Utah State University                                                 | CUSIP: 917563RQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2055000 | PA      | $1825559.25   | 0.54%             | 2036-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST BRD OF RGTS REVENUE                       | Utah Board of Higher Education                                        | CUSIP: 91754RZZ3<br>LEI: 549300SAYC054T80UK17 | Long             | DBT              | MUN               | US        |    660000 | PA      | $712866.00    | 0.21%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TH97<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $142133.60    | 0.04%             | 2024-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TSZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4785000 | PA      | $4691405.40   | 1.39%             | 2047-03-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| PROVO CITY UT SCH DIST MUNI BL                    | Provo City School District Municipal Building Authority               | CUSIP: 74414LAL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1744965.00   | 0.52%             | 2033-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST MUNI PWR AGY PWR SPLY                     | Utah Municipal Power Agency                                           | CUSIP: 91756TAE1<br>LEI: 549300ZRZ5YVJ6KNNV32 | Long             | DBT              | MUN               | US        |    330000 | PA      | $333174.60    | 0.10%             | 2023-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT VANCOUVER WA                                 | Port of Vancouver WA                                                  | CUSIP: 735524NR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    555000 | PA      | $609734.10    | 0.18%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOOPER WTR IMPT DIST UT WTR RE                    | Hooper Water Improvement District                                     | CUSIP: 439124AM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031200.00   | 0.31%             | 2034-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TFF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    740000 | PA      | $743626.00    | 0.22%             | 2029-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NV SCH DIST                            | Clark County School District                                          | CUSIP: 181059UC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2063640.00   | 0.61%             | 2030-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HILLSBOROUGH CNTY FL AVIATION                     | Hillsborough County Aviation Authority                                | CUSIP: 432308M84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1608375.00   | 0.48%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON CNTY UT MUNI BLDG A                    | Washington County Municipal Building Authority                        | CUSIP: 938714BD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $533940.00    | 0.16%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST UNIV REVENUE                              | Utah State University                                                 | CUSIP: 917563JT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1105000 | PA      | $1134426.15   | 0.34%             | 2030-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALASKA ST MUNI BOND BANK AUTH                     | Alaska Municipal Bond Bank Authority                                  | CUSIP: 01179RYS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    590000 | PA      | $622048.80    | 0.18%             | 2032-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST INFRASTRUCTURE AGY TEL                    | Utah Infrastructure Agency                                            | CUSIP: 917471BD5<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |   1010000 | PA      | $1010929.20   | 0.30%             | 2037-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT LOCAL BLDG A                    | Salt Lake City Local Building Authority                               | CUSIP: 795589CC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $435693.00    | 0.13%             | 2034-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PORT ARTHUR TX INDEP SCH DIST                     | Port Arthur Independent School District                               | CUSIP: 733505VJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1046490.00   | 0.31%             | 2035-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KING CNTY WA HSG AUTH                             | King County Housing Authority                                         | CUSIP: 494759RF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $499315.00    | 0.15%             | 2035-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASHOE CNTY NV                                    | County of Washoe NV                                                   | CUSIP: 940774NW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1623780.00   | 0.48%             | 2032-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                    | Utah Charter School Finance Authority                                 | CUSIP: 91754TQ30<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1021080.00   | 0.30%             | 2032-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT ARPT REVENUE                    | City of Salt Lake City UT Airport Revenue                             | CUSIP: 795576GQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1525000 | PA      | $1599176.00   | 0.47%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF UTAH UT REVENUES                          | University of Utah/The                                                | CUSIP: 915183WV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $627528.00    | 0.19%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF UTAH UT REVENUES                          | University of Utah/The                                                | CUSIP: 915183WT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    480000 | PA      | $503601.60    | 0.15%             | 2033-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PLEASANT GROVE CITY UTAH STORM                    | City of Pleasant Grove City UT Stormwater Revenue                     | CUSIP: 728267CN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    510000 | PA      | $547102.50    | 0.16%             | 2030-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT MOSQUITO ABA                    | Salt Lake City Mosquito Abatement District Local Building Authority   | CUSIP: 79559PAL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    810000 | PA      | $886204.80    | 0.26%             | 2031-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAPLETON CITY UT MUNI ENERGY S                    | City of Mapleton City UT                                              | CUSIP: 565433AE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1043845.95   | 0.31%             | 2031-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MESQUITE NV SPL IMPT DIST                         | City of Mesquite NV                                                   | CUSIP: 590739AR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100072.00    | 0.03%             | 2025-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CANYONS SCH DIST LOCAL BLDG AU                    | Canyons School District Local Building Authority                      | CUSIP: 139083AL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $766433.75    | 0.23%             | 2033-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CARSON CITY NV                                    | Carson City NV                                                        | CUSIP: 145808CR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1050330.00   | 0.31%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MATANUSKA-SUSITNA BORO AK LEAS                    | Borough of Matanuska-Susitna AK                                       | CUSIP: 576553BV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    735000 | PA      | $764157.45    | 0.23%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT PUBLIC UTILS                    | City of Salt Lake City UT Public Utilities Revenue                    | CUSIP: 795604AQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1063430.00   | 0.31%             | 2032-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-22

**Name of Applicant:** Aquila Municipal Trust

**Signature:** Joseph DiMaggio

**Name of Signer:** Joseph DiMaggio

**Title:** Chief Financial Officer & Treasurer