# EDGAR Filing Document

**Accession Number:** 0000751656
**File Stem:** 0002071691-26-004594
**Filing Date:** 2026-2
**Character Count:** 417137
**Document Hash:** 082b2981fe33a33c066f9dc95543d11f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-26-004594.hdr.sgml**: 20260225

**ACCESSION NUMBER**: 0002071691-26-004594

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260225

**DATE AS OF CHANGE**: 20260225

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MFS MUNICIPAL SERIES TRUST
- **CENTRAL INDEX KEY:** 0000751656

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04096
- **FILM NUMBER:** 26679557

**BUSINESS ADDRESS:**
- **STREET 1:** 111 HUNTINGTON AVENUE
- **STREET 2:** 21ST FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199
- **BUSINESS PHONE:** 18006372929

**MAIL ADDRESS:**
- **STREET 1:** 111 HUNTINGTON AVENUE
- **STREET 2:** 21ST FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MFS MANAGED MULTI STATE MUNICIPAL BOND TRUST
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MFS MANAGED MULTI STATE TAX EXEMPT TRUST
- **DATE OF NAME CHANGE:** 19890410

## Series and Classes Contracts Data

### MFS Municipal Intermediate Fund (Series ID: S000071695)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000227169 | Class C      | MIUCX           |
| C000227170 | Class A      | MIUAX           |
| C000227171 | Class I      | MIUIX           |
| C000227172 | Class R6     | MIURX           |

## Nport-Ex

MIU-Q3

![](img616581911.gif)

**Quarterly Report**

December 31, 2025

MFS<sup>®</sup> Municipal <br>Intermediate Fund

![](img0c7d6e1d2.gif)

------

**Portfolio of Investments**

12/31/25 (unaudited)

The Portfolio of Investments is a complete list of all securities owned by your fund. It is categorized by jurisdiction.

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Municipal Bonds – 94.6% | Municipal Bonds – 94.6% | Municipal Bonds – 94.6% |
| Alabama – 4.0% | Alabama – 4.0% | Alabama – 4.0% |
| Baldwin County, AL, Industrial Development Authority, Solid Waste Disposal Rev. (Novelis Corp. Project), "A", 5%, <br> 6/01/2055 (Put Date 6/01/2032)<br>| $465000 | &nbsp;&nbsp;&nbsp; $474054 |
| Baldwin County, AL, Industrial Development Authority, Solid Waste Disposal Rev. (Novelis Corp. Project), "B", 4.625%, <br> 6/01/2055 (Put Date 6/01/2032)<br>| 135000 | &nbsp;&nbsp;&nbsp; 135586 |
| Birmingham, AL, Special Care Facilities Financing Authorities, Children's Hospital Health Care Facilities Rev., "A", 5.25%, <br> 6/01/2043 <br>| 1000000 | &nbsp;&nbsp;&nbsp; 1095887 |
| Black Belt Energy Gas District, AL, Gas Project Rev., "A", 4%, 6/01/2051 (Put Date 12/01/2031) | 185000 | &nbsp;&nbsp;&nbsp; 189238 |
| Black Belt Energy Gas District, AL, Gas Project Rev., "A", 5.25%, 5/01/2056 (Put Date 5/01/2032) | 730000 | &nbsp;&nbsp;&nbsp; 753492 |
| Black Belt Energy Gas District, AL, Gas Project Rev., "C", 5.5%, 10/01/2054 (Put Date 6/01/2032) | 250000 | &nbsp;&nbsp;&nbsp; 274729 |
| Black Belt Energy Gas District, AL, Gas Project Rev., "C", 5%, 5/01/2055 (Put Date 7/01/2031) | 365000 | &nbsp;&nbsp;&nbsp; 391339 |
| Black Belt Energy Gas District, AL, Gas Project Rev., "F", 5.5%, 11/01/2053 (Put Date 12/01/2028) | 345000 | &nbsp;&nbsp;&nbsp; 362157 |
| Black Belt Energy Gas District, AL, Gas Supply Rev., "D-1", 4%, 7/01/2052 (Put Date 6/01/2027) | 315000 | &nbsp;&nbsp;&nbsp; 317595 |
| Board of Trustees of Alabama State University, General Tuition & Fee Rev., AGM, 5.25%, 9/01/2038  | 650000 | &nbsp;&nbsp;&nbsp; 740651 |
| Energy Southeast, AL, Cooperative District Energy Supply Rev., "B", 5%, 9/01/2033  | 1610000 | &nbsp;&nbsp;&nbsp; 1668613 |
| Energy Southeast, AL, Cooperative District Energy Supply Rev., "B-1", 5.75%, 4/01/2054 (Put Date 11/01/2031) | 345000 | &nbsp;&nbsp;&nbsp; 382090 |
| Jacksonville, AL, Public Educational Building Authority, Higher Education Facilities Rev. (Jacksonville State University <br> Foundation), "A", BAM, 5%, 8/01/2037 <br>| 1275000 | &nbsp;&nbsp;&nbsp; 1410362 |
| Jefferson County, AL, Sewer Rev. Warrants, 5%, 10/01/2038  | 750000 | &nbsp;&nbsp;&nbsp; 820240 |
| Mobile, AL, Infirmary Health System Special Care Facilities Financing Authority Rev. (Infirmary Health System, Inc.), "A", 4%, <br> 2/01/2037 <br>| 1110000 | &nbsp;&nbsp;&nbsp; 1112160 |
| Southeast Alabama Energy Authority (Project No. 2), "A", 4%, 12/01/2051 (Put Date 12/01/2031) | 750000 | &nbsp;&nbsp;&nbsp; 757583 |
| Southeast Alabama Energy Authority (Project No. 3), "A-1", 5.5%, 1/01/2053 (Put Date 12/01/2029) | 215000 | &nbsp;&nbsp;&nbsp; 230480 |
| Southeast Alabama Energy Authority (Project No. 5), "A", 5.25%, 1/01/2054 (Put Date 7/01/2029) | 1000000 | &nbsp;&nbsp;&nbsp; 1053679 |
| Southeast Alabama Energy Authority, "A", 5%, 11/01/2035  | 515000 | &nbsp;&nbsp;&nbsp; 546831 |
| Southeast Alabama Energy Authority, "C", 5%, 10/01/2055 (Put Date 11/01/2032) | 1230000 | &nbsp;&nbsp;&nbsp; 1328868 |
| Southeast Alabama Gas Supply District Refunding Rev. (Project No. 2), "B", 5%, 6/01/2049 (Put Date 5/01/2032) | 500000 | &nbsp;&nbsp;&nbsp; 536477 |
|  |  | &nbsp;&nbsp;&nbsp; $14582111 |
| Alaska – 0.5% | Alaska – 0.5% | Alaska – 0.5% |
| Alaska Housing Finance Corp., General Mortgage Rev. II, "C", 5.75%, 12/01/2052  | $275000 | &nbsp;&nbsp;&nbsp; $290522 |
| Alaska Railroad Corp., Cruise Port Rev., AGM, 5.5%, 10/01/2039  | 1300000 | &nbsp;&nbsp;&nbsp; 1463544 |
|  |  | &nbsp;&nbsp;&nbsp; $1754066 |
| Arizona – 2.8% | Arizona – 2.8% | Arizona – 2.8% |
| Arizona Industrial Development Authority, Education Rev. (Academies of Math & Science Projects), 4.5%, 7/01/2033  | $465000 | &nbsp;&nbsp;&nbsp; $468002 |
| Arizona Industrial Development Authority, Education Rev. (Academies of Math & Science Projects), "A", 4.875%, 7/01/2060  | 1400000 | &nbsp;&nbsp;&nbsp; 1394300 |
| Arizona Industrial Development Authority, Education Rev. (Benjamin Franklin Charter School Projects), "A", 4.43%, 7/01/2033  | 500000 | &nbsp;&nbsp;&nbsp; 500039 |
| Arizona Industrial Development Authority, Multi-Family (Hacienda Del Rio Project), FNMA, 4.5%, 6/01/2041  | 797730 | &nbsp;&nbsp;&nbsp; 807122 |
| Arizona Industrial Development Authority, Multi-Family Housing Rev. (Unity at West Glendale Project), 5%, <br> 3/01/2045 (Put Date 9/01/2026)<br>| 67000 | &nbsp;&nbsp;&nbsp; 67444 |
| Chandler, AZ, Industrial Development Authority Rev. (Intel Corp. Project), 5%, 9/01/2052 (Put Date 9/01/2027) | 1255000 | &nbsp;&nbsp;&nbsp; 1278900 |
| Coconino County, AZ, Pollution Control Refunding Rev. (Nevada Power Co. Projects), "A", 4.125%, <br> 9/01/2032 (Put Date 3/31/2026)<br>| 155000 | &nbsp;&nbsp;&nbsp; 155252 |
| Maricopa County, AZ, Industrial Development Authority, Education Rev. (Legacy Traditional School Projects), "A", 5%, <br> 7/01/2035 <br>| 1000000 | &nbsp;&nbsp;&nbsp; 1066282 |
| Maricopa County, AZ, Pollution Control Corp. Rev. (Public Service Co. of New Mexico Palo Verde Project), "B", 0.875%, <br> 6/01/2043 (Put Date 10/01/2026)<br>| 15000 | &nbsp;&nbsp;&nbsp; 14680 |
| Phoenix, AZ, Industrial Development Authority, Single Family Mortgage Rev., "A", GNMA, 6.5%, 3/01/2055  | 275000 | &nbsp;&nbsp;&nbsp; 306787 |
| Phoenix, AZ, Industrial Development Authority, Solid Waste Disposal Rev. (Republic Services, Inc. Project), VRDN, 3.45%, <br> 12/01/2035 (Put Date 2/01/2026)<br>| 1600000 | &nbsp;&nbsp;&nbsp; 1599981 |
| Phoenix, AZ, Industrial Development Authority, Student Housing Refunding Rev. (Downtown Phoenix Student Housing LLC - <br> Arizona State University Project), "A", 5%, 7/01/2026 <br>| 200000 | &nbsp;&nbsp;&nbsp; 201279 |
| Pima County, AZ, Industrial Development Authority, Single Family Mortgage Rev., "B", GNMA, 6.5%, 1/01/2055  | 330000 | &nbsp;&nbsp;&nbsp; 366404 |
| Sierra Vista, AZ, Industrial Development Authority, Education Facility Rev. (American Leadership Academy Project), 5.25%, <br> 6/15/2038 <br>| 500000 | &nbsp;&nbsp;&nbsp; 507170 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Municipal Bonds – continued | Municipal Bonds – continued | Municipal Bonds – continued |
| Arizona – continued | Arizona – continued | Arizona – continued |
| Tempe, AZ, Industrial Development Authority Refunding Rev. (Friendship Village of Tempe Project), "A", 4.375%, 12/01/2036  | $1000000 | &nbsp;&nbsp;&nbsp; $1002903 |
| Tempe, AZ, Industrial Development Authority Rev. (Friendship Village of Tempe Project), "A", 4%, 12/01/2026  | 245000 | &nbsp;&nbsp;&nbsp; 245118 |
|  |  | &nbsp;&nbsp;&nbsp; $9981663 |
| Arkansas – 0.1% | Arkansas – 0.1% | Arkansas – 0.1% |
| Arkansas Development Finance Authority, Charter School Capital Improvement Rev. (LISA Academy Project), 4%, 7/01/2028  | $135000 | &nbsp;&nbsp;&nbsp; $134382 |
| Arkansas Development Finance Authority, Healthcare Facilities Rev. (Carti Surgery Center Project), "B", 4%, 7/01/2027  | 125000 | &nbsp;&nbsp;&nbsp; 125009 |
| Arkansas Development Finance Authority, Resource Recovery Rev. (Weyerhaeuser Co. Project) , 3.875%, <br> 10/15/2065 (Put Date 10/15/2032)<br>| 195000 | &nbsp;&nbsp;&nbsp; 195174 |
|  |  | &nbsp;&nbsp;&nbsp; $454565 |
| California – 4.4% | California – 4.4% | California – 4.4% |
| California Community Choice Financing Authority, Clean Energy Project Rev. (Green Bonds), "C", 5.25%, <br> 1/01/2054 (Put Date 10/01/2031)<br>| $770000 | &nbsp;&nbsp;&nbsp; $818157 |
| California Community Choice Financing Authority, Clean Energy Project Rev. (Green Bonds), "C", 5%, <br> 8/01/2055 (Put Date 10/01/2032)<br>| 285000 | &nbsp;&nbsp;&nbsp; 301918 |
| California Community Choice Financing Authority, Clean Energy Project Rev. (Green Bonds), "C", 5%, <br> 12/01/2055 (Put Date 10/01/2033)<br>| 490000 | &nbsp;&nbsp;&nbsp; 520081 |
| California Community Choice Financing Authority, Clean Energy Project Rev. (Green Bonds), "E", 5%, <br> 10/01/2056 (Put Date 5/01/2035)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1090456 |
| California Community Choice Financing Authority, Clean Energy Project Rev. (Green Bonds), "F", 5.5%, <br> 10/01/2054 (Put Date 11/01/2030)<br>| 395000 | &nbsp;&nbsp;&nbsp; 431046 |
| California Community Choice Financing Authority, Clean Energy Project Rev. (Green Bonds), "H", 5%, <br> 1/01/2056 (Put Date 8/01/2033)<br>| 1675000 | &nbsp;&nbsp;&nbsp; 1832979 |
| California Health Facilities Financing Authority Rev. (Providence St. Joseph Health), "C", 5.25%, <br> 10/01/2050 (Put Date 10/01/2035)<br>| 1500000 | &nbsp;&nbsp;&nbsp; 1706147 |
| California Municipal Finance Authority Rev. (Healthcore NorthBay Properties), 5.69%, 9/01/2035  | 388000 | &nbsp;&nbsp;&nbsp; 401446 |
| California Municipal Finance Authority, Solid Waste Disposal Rev. (Republic Services, Inc. Project), "A", 3.875%, <br> 3/01/2054 (Put Date 3/01/2034)<br>| 655000 | &nbsp;&nbsp;&nbsp; 655612 |
| California Municipal Finance Authority, Solid Waste Disposal Rev. (Waste Management, Inc. Project), "A", 3.45%, <br> 12/01/2044 (Put Date 12/01/2026)<br>| 315000 | &nbsp;&nbsp;&nbsp; 315082 |
| California School Finance Authority, Charter School Rev. (Aspire Public Schools - Obligated Group - Issue No. 5), "A", 4%, <br> 8/01/2036 <br>| 325000 | &nbsp;&nbsp;&nbsp; 318924 |
| California School Finance Authority, Charter School Rev. (Aspire Public Schools - Obligated Group - Issue No. 6), "A", 5%, <br> 8/01/2032 (n)<br>| 500000 | &nbsp;&nbsp;&nbsp; 516007 |
| California School Finance Authority, Charter School Rev. (Partnerships to Uplift Communities Project), 5%, 8/01/2033  | 620000 | &nbsp;&nbsp;&nbsp; 642039 |
| California Statewide Communities Development Authority Rev, "C-2", 4.375%, 9/02/2040  | 900000 | &nbsp;&nbsp;&nbsp; 908742 |
| California Statewide Communities Development Authority Rev. (Adventist Health System West), "A", 4.125%, 3/01/2034  | 90000 | &nbsp;&nbsp;&nbsp; 90074 |
| California Statewide Communities Development Authority Rev. (Loma Linda University Medical Center), "A", 5.25%, <br> 12/01/2034 <br>| 715000 | &nbsp;&nbsp;&nbsp; 717054 |
| California Statewide Communities Development Authority Rev. (Loma Linda University Medical Center), "A", 5.25%, <br> 12/01/2044 <br>| 130000 | &nbsp;&nbsp;&nbsp; 130374 |
| California Statewide Communities Development Authority Rev. (University of California, Irvine East Campus Apartments Phase <br> IV-A CHF Irvine LLC), 5%, 5/15/2030 <br>| 80000 | &nbsp;&nbsp;&nbsp; 82120 |
| Central Valley, CA, Energy Authority, Commodity Supply Rev., 5%, 12/01/2055 (Put Date 8/01/2035) | 470000 | &nbsp;&nbsp;&nbsp; 511968 |
| Los Angeles County, CA, Development Authority, Multi-Family Housing Mortgage Rev. (2111 Firestone), "E", 5%, <br> 7/01/2043 (Put Date 7/01/2026)<br>| 221000 | &nbsp;&nbsp;&nbsp; 222091 |
| Los Angeles, CA, Harbor Department Refunding Rev., "A-2", AGM, 5%, 8/01/2036  | 780000 | &nbsp;&nbsp;&nbsp; 879388 |
| Los Angeles, CA, Housing Authority, Multi-Family Housing Rev. (M-TEBS) + (Homekey Portfolio), "B", 3.75%, 4/01/2034  | 56737 | &nbsp;&nbsp;&nbsp; 57813 |
| Los Angeles, CA, Housing Authority, Multi-Family Housing Rev. (M-TEBS) + (Homekey Portfolio), "C", 3.75%, 4/01/2034  | 141842 | &nbsp;&nbsp;&nbsp; 145018 |
| San Francisco, CA, City & County Airports Commission, International Airport Rev., "A", 5%, 5/01/2029  | 90000 | &nbsp;&nbsp;&nbsp; 95948 |
| San Francisco, CA, City & County Airports Commission, International Airport Rev., "A", 5%, 5/01/2030  | 240000 | &nbsp;&nbsp;&nbsp; 260095 |
| San Francisco, CA, City & County Airports Commission, International Airport Rev., "A", 5%, 5/01/2039  | 1000000 | &nbsp;&nbsp;&nbsp; 1091730 |
| San Francisco, CA, City & County Airports Commission, International Airport Rev., "C", 5.5%, 5/01/2037  | 750000 | &nbsp;&nbsp;&nbsp; 853123 |
| Southern California Public Power Authority, Clean Energy Project Rev., "A", 5%, 4/01/2055 (Put Date 9/01/2030) | 190000 | &nbsp;&nbsp;&nbsp; 201820 |
|  |  | &nbsp;&nbsp;&nbsp; $15797252 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Municipal Bonds – continued | Municipal Bonds – continued | Municipal Bonds – continued |
| Colorado – 3.3% | Colorado – 3.3% | Colorado – 3.3% |
| Adams & Arapahoe Counties, CO, Joint School District No. 28J, Certificates of Participation, BAM, 5.25%, 12/01/2043  | $540000 | &nbsp;&nbsp;&nbsp; $581277 |
| Adams County, CO, Bromley Park Metropolitan District No. 3, General Obligation, AGM, 5%, 12/01/2039  | 905000 | &nbsp;&nbsp;&nbsp; 982493 |
| Boulder County, CO, STC Metropolitan District No. 2, Limited Tax General Obligation & First Lien Special Refunding Rev., "A-1", <br> AGM, 5%, 12/01/2036 <br>| 1285000 | &nbsp;&nbsp;&nbsp; 1393512 |
| Colorado Health Facilities Authority Refunding Rev. (Frasier), "A", 5%, 5/15/2040  | 275000 | &nbsp;&nbsp;&nbsp; 286738 |
| Colorado Health Facilities Authority Rev. (Christian Living Neighborhoods), 4%, 1/01/2026  | 125000 | &nbsp;&nbsp;&nbsp; 125000 |
| Colorado Health Facilities Authority Rev. (CommonSpirit Health), "A", 5.25%, 11/01/2037  | 1000000 | &nbsp;&nbsp;&nbsp; 1100677 |
| Colorado Health Facilities Authority Rev. (Covenant Living Communities & Services), "A", 5%, 12/01/2035  | 975000 | &nbsp;&nbsp;&nbsp; 1062353 |
| Colorado Middle-Income Housing Authority, NHP Foundation (602 Galena Street-Frisco CO), "A", 4.5%, 7/01/2035  | 235000 | &nbsp;&nbsp;&nbsp; 240446 |
| Denver, CO, City & County Housing Authority, Multi-Family Housing Rev. (4965 Washington Street Project), "A", 5%, <br> 12/01/2045 <br>| 60000 | &nbsp;&nbsp;&nbsp; 60536 |
| Douglas County, CO, Mirabelle Metropolitan District No. 2, "A", AGM, 5%, 12/01/2040  | 720000 | &nbsp;&nbsp;&nbsp; 767258 |
| Douglas County, CO, Sterling Ranch Community Authority Board, Limited Tax Supported District No. 2 Refunding Rev. "A", <br> BAM, 5%, 12/01/2041 <br>| 250000 | &nbsp;&nbsp;&nbsp; 266069 |
| Erie, CO, Parkdale Community Authority, Limited Tax Supported Refunding Rev. (District No. 1), "A", AGM, 5%, 12/01/2036  | 390000 | &nbsp;&nbsp;&nbsp; 426136 |
| Greeley, CO, City Center West Residential Metropolitan District No. 2 Weld County General Obligation Refunding Rev., AGM, <br> 5.25%, 12/01/2040 <br>| 302000 | &nbsp;&nbsp;&nbsp; 327061 |
| Gunnison County, CO, Housing Authority, General Rev. (Whetstone Housing Project), BAM, 5%, 6/01/2035  | 1000000 | &nbsp;&nbsp;&nbsp; 1126295 |
| Park Creek Metropolitan District, CO, Senior Limited Property Tax Supported Improvement & Refunding Rev., AGM, 5%, <br> 12/01/2044 <br>| 1700000 | &nbsp;&nbsp;&nbsp; 1773733 |
| Southern Ute Indian Tribe, CO, Indian Reservation, "A", 5%, 4/01/2035  | 1250000 | &nbsp;&nbsp;&nbsp; 1369180 |
|  |  | &nbsp;&nbsp;&nbsp; $11888764 |
| Connecticut – 1.0% | Connecticut – 1.0% | Connecticut – 1.0% |
| Connecticut Health & Educational Facilities Authority Rev. (Masonicare), "F", 4%, 7/01/2030  | $1000000 | &nbsp;&nbsp;&nbsp; $1001709 |
| Connecticut Higher Education Supplemental Loan Authority Rev. (CHESLA Loan Program), "B", 5%, 11/15/2031  | 1530000 | &nbsp;&nbsp;&nbsp; 1637718 |
| Connecticut Housing Finance Authority Rev. (Housing Mortgage Finance Program), "E-1", GNMA, 5.5%, 11/15/2052  | 465000 | &nbsp;&nbsp;&nbsp; 489737 |
| Stamford, CT, Housing Authority Rev. (Mozaic Concierge Living Project), "D", 4.25%, 10/01/2030  | 470000 | &nbsp;&nbsp;&nbsp; 474817 |
|  |  | &nbsp;&nbsp;&nbsp; $3603981 |
| Delaware – 0.6% | Delaware – 0.6% | Delaware – 0.6% |
| Delaware Economic Development Authority, Exempt Facility Refunding Rev. (NRG Energy Project), "A", 4%, <br> 10/01/2045 (Put Date 10/01/2035)<br>| $510000 | &nbsp;&nbsp;&nbsp; $510944 |
| Delaware Housing Authority, Multi-Family Rev. (Luther Towers Apartments), 4.65%, 1/01/2041  | 735000 | &nbsp;&nbsp;&nbsp; 760863 |
| Delaware Housing Authority, Senior Single Family Rev., "A", GNMA, 5.75%, 1/01/2055  | 905000 | &nbsp;&nbsp;&nbsp; 986304 |
|  |  | &nbsp;&nbsp;&nbsp; $2258111 |
| District of Columbia – 1.3% | District of Columbia – 1.3% | District of Columbia – 1.3% |
| District of Columbia Rev. (Rocketship D.C. Obligated Group), "A", 5%, 6/01/2034 (n) | $250000 | &nbsp;&nbsp;&nbsp; $255833 |
| District of Columbia Rev. (Rocketship D.C. Obligated Group), "A", 5%, 6/01/2049 (n) | 250000 | &nbsp;&nbsp;&nbsp; 222467 |
| District of Columbia, Housing Finance Agency, Collateralized Multi-Family Housing Mortgage Rev. (Belmont Crossing Phase II), <br> 5%, 3/01/2029 (Put Date 2/01/2028)<br>| 110000 | &nbsp;&nbsp;&nbsp; 114117 |
| District of Columbia, Housing Finance Agency, Collateralized Multi-Family Housing Mortgage Rev. (Edmonson), 5%, <br> 12/01/2028 (Put Date 12/01/2027)<br>| 327000 | &nbsp;&nbsp;&nbsp; 339360 |
| District of Columbia, Housing Finance Agency, Multi-Family Development Program, "A-2", 4.1%, <br> 9/01/2046 (Put Date 9/01/2030)<br>| 1250000 | &nbsp;&nbsp;&nbsp; 1305405 |
| District of Columbia, Housing Finance Agency, Multi-Family Housing Rev. (2911 Rhode Island Avenue Apartments Project), "A", <br> FHA, 5%, 3/01/2028 <br>| 1250000 | &nbsp;&nbsp;&nbsp; 1300744 |
| District of Columbia, Student Dormitory Rev. (Provident Group - Howard Properties LLC), 5%, 10/01/2045  | 100000 | &nbsp;&nbsp;&nbsp; 94138 |
| Metropolitan Washington, D.C., Airport Authority System Refunding Rev., "A", 5%, 10/01/2034  | 960000 | &nbsp;&nbsp;&nbsp; 1086409 |
|  |  | &nbsp;&nbsp;&nbsp; $4718473 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Municipal Bonds – continued | Municipal Bonds – continued | Municipal Bonds – continued |
| Florida – 5.5% | Florida – 5.5% | Florida – 5.5% |
| Charlotte County, FL, Industrial Development Authority, Utility System Rev. (Town & Country Utilities Project), 5.125%, <br> 10/01/2035 <br>| $400000 | &nbsp;&nbsp;&nbsp; $413520 |
| Florida Capital Trust Authority, Educational Facilities Rev. (Madrone-Florida Tech Student Housing I LLC-Florida Institute of <br> Technology Project), "A", 4.75%, 7/01/2040 <br>| 200000 | &nbsp;&nbsp;&nbsp; 199728 |
| Florida Development Finance Corp., Educational Facilities Rev. (Renaissance Charter School, Inc. Projects), "A", 4.9%, <br> 6/15/2035 <br>| 750000 | &nbsp;&nbsp;&nbsp; 778117 |
| Florida Development Finance Corp., Senior Living Rev. (Mayflower Retirement Community Project), "A", 4%, 6/01/2028 (n) | 500000 | &nbsp;&nbsp;&nbsp; 496339 |
| Florida Development Finance Corp., Solid Waste Disposal Rev. (GFL Solid Waste Southeast LLC Project), "A", 4.375%, <br> 10/01/2054 (Put Date 10/01/2031)<br>| 520000 | &nbsp;&nbsp;&nbsp; 526040 |
| Florida Higher Educational Facilities Financing Authority Rev. (Jacksonville University Project), "A", 4.75%, 6/01/2038 (n) | 500000 | &nbsp;&nbsp;&nbsp; 478166 |
| Florida Housing Finance Corp., Multi-Family Mortgage Rev. (Northside Transit Village III), "B", GNMA, 5%, <br> 2/01/2027 (Put Date 2/01/2026)<br>| 450000 | &nbsp;&nbsp;&nbsp; 450689 |
| Florida Local Government Finance Commission, Senior Living Rev. (Fleet Landing at Nocatee Project), "B-2", 4.45%, <br> 11/15/2031 <br>| 1300000 | &nbsp;&nbsp;&nbsp; 1313806 |
| Greater Orlando, FL, Aviation Authority, Airport Facilities Rev., "A", 5%, 10/01/2031  | 1005000 | &nbsp;&nbsp;&nbsp; 1006351 |
| Jacksonville, FL, Housing Authority, General Rev. (Westwood Apartments), 5%, 2/01/2034  | 1380000 | &nbsp;&nbsp;&nbsp; 1475844 |
| Lee County, FL, Airport Rev., 5.25%, 10/01/2043  | 365000 | &nbsp;&nbsp;&nbsp; 389314 |
| Lee County, FL, Industrial Development Authority, Healthcare Facilities Rev. (Shell Point Obligated Group), "B-1", 4.75%, <br> 11/15/2029 <br>| 30000 | &nbsp;&nbsp;&nbsp; 30195 |
| Lee County, FL, Industrial Development Authority, Healthcare Facilities Rev. (Shell Point Obligated Group), "B-2", 4.375%, <br> 11/15/2029 <br>| 25000 | &nbsp;&nbsp;&nbsp; 25132 |
| Miami-Dade County, FL, Seaport Refunding Rev., "A", 5%, 10/01/2036  | 1000000 | &nbsp;&nbsp;&nbsp; 1077478 |
| Okaloosa County, FL, Industrial Development Authority Rev. (Air Force Enlisted Village, Inc. Project), 4.375%, 5/15/2035  | 1000000 | &nbsp;&nbsp;&nbsp; 1008760 |
| Orange County, FL, Health Facilities Authority Rev. (Presbyterian Retirement Communities Obligated Group Project), "A", 4%, <br> 8/01/2036 <br>| 1000000 | &nbsp;&nbsp;&nbsp; 1013935 |
| Palm Beach County, FL, Airport System Rev., "B", 5.25%, 10/01/2042  | 500000 | &nbsp;&nbsp;&nbsp; 540687 |
| Palm Beach County, FL, Airport System Rev., "B", 5.25%, 10/01/2043  | 500000 | &nbsp;&nbsp;&nbsp; 535564 |
| Palm Beach County, FL, Airport System Rev., "B", 5.25%, 10/01/2044  | 500000 | &nbsp;&nbsp;&nbsp; 530657 |
| Palm Beach County, FL, Health Facilities Authority Rev. (Jupiter Medical Center Project), "A", 5.25%, 11/01/2037  | 570000 | &nbsp;&nbsp;&nbsp; 628100 |
| Palm Beach County, FL, Health Facilities Authority Rev. (Toby & Leon Cooperman Sinai Residences of Boca Raton), 4%, <br> 6/01/2026 <br>| 230000 | &nbsp;&nbsp;&nbsp; 229962 |
| Palm Beach County, FL, Health Facilities Authority Rev. (Toby & Leon Cooperman Sinai Residences of Boca Raton), 4%, <br> 6/01/2031 <br>| 750000 | &nbsp;&nbsp;&nbsp; 750463 |
| Palm Beach County, FL, Health Facilities Authority, Hospital Rev. (Jupiter Medical Center Project), "A", 5%, 11/01/2033  | 350000 | &nbsp;&nbsp;&nbsp; 378991 |
| Palm Beach County, FL, State Rev. (Provident Group - PBAU Properties II LLC), "A", 5.5%, 10/01/2035  | 625000 | &nbsp;&nbsp;&nbsp; 692278 |
| Pasco County, FL, Capital Improvement Cigarette Tax Allocation, "A", AGM, 5.5%, 9/01/2038  | 1000000 | &nbsp;&nbsp;&nbsp; 1125737 |
| Pensacola, FL, Airport Rev., 5.25%, 10/01/2043  | 675000 | &nbsp;&nbsp;&nbsp; 718039 |
| Pompano Beach, FL, Refunding Rev. (John Knox Village Project), 4%, 9/01/2040  | 100000 | &nbsp;&nbsp;&nbsp; 95022 |
| Pompano Beach, FL, Rev. (John Knox Village Project), 5%, 9/01/2039  | 800000 | &nbsp;&nbsp;&nbsp; 800346 |
| Pompano Beach, FL, Rev. (John Knox Village Project), "A", 4%, 9/01/2036  | 550000 | &nbsp;&nbsp;&nbsp; 547278 |
| St. John's County, FL, Industrial Development Authority, Senior Living Rev. (Vicars Landing Project), "A", 4%, 12/15/2026  | 190000 | &nbsp;&nbsp;&nbsp; 189598 |
| Venice, FL, Retirement Community Improvement Rev. (Village on the Isle Project), "B2", 4.5%, 1/01/2030  | 130000 | &nbsp;&nbsp;&nbsp; 130264 |
| Wildwood, FL, Middleton Community Development District A, Special Assessment Rev., 4.2%, 5/01/2039  | 105000 | &nbsp;&nbsp;&nbsp; 104947 |
| Wildwood, FL, Special Assessment Rev. (Village Community Development District No. 15), 3.75%, 5/01/2029  | 100000 | &nbsp;&nbsp;&nbsp; 100602 |
| Wildwood, FL, Special Assessment Rev. (Village Community Development District No. 15), 4.375%, 5/01/2033  | 1000000 | &nbsp;&nbsp;&nbsp; 1038179 |
|  |  | &nbsp;&nbsp;&nbsp; $19820128 |
| Georgia – 3.2% | Georgia – 3.2% | Georgia – 3.2% |
| Atlanta, GA, Development Authority Rev. (Westside Gulch Area Project), "A-1", 5%, 4/01/2034 (n) | $185000 | &nbsp;&nbsp;&nbsp; $188766 |
| Atlanta, GA, Urban Residential Finance Authority, Multi-Family Housing Rev. (North Block), 3.4%, <br> 2/01/2029 (Put Date 2/01/2028)<br>| 187000 | &nbsp;&nbsp;&nbsp; 188168 |
| Atlanta, GA, Urban Residential Finance Authority, Multi-Family Mortgage (Trinity Towers), "A", 4.85%, 9/01/2043  | 1000000 | &nbsp;&nbsp;&nbsp; 1065965 |
| Burke County, GA, Development Authority, Pollution Control Rev. (Georgia Power Co. Plant Vogtle Project), 3.8%, <br> 10/01/2032 (Put Date 5/21/2026)<br>| 250000 | &nbsp;&nbsp;&nbsp; 250713 |
| Decatur, GA, Housing Authority, Multi-Family Housing Rev. (Calvin Court Project), 3.6%, 8/01/2028 (Put Date 8/01/2027) | 426000 | &nbsp;&nbsp;&nbsp; 429710 |
| DeKalb County, GA, Development Authority Rev. (Globe Academy, Inc. Project), "A", 5%, 6/01/2040  | 250000 | &nbsp;&nbsp;&nbsp; 253753 |
| DeKalb County, GA, Housing Authority, Affordable Multi-Family Housing Rev. (Park at 500 Project), 4%, 3/01/2034  | 840000 | &nbsp;&nbsp;&nbsp; 845490 |
| Georgia Main Street Natural Gas, Inc., Gas Supply Rev., "A", 5%, 6/01/2053 (Put Date 6/01/2030) | 1000000 | &nbsp;&nbsp;&nbsp; 1054260 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Municipal Bonds – continued | Municipal Bonds – continued | Municipal Bonds – continued |
| Georgia – continued | Georgia – continued | Georgia – continued |
| Georgia Main Street Natural Gas, Inc., Gas Supply Rev., "A", 5%, 6/01/2055 (Put Date 6/01/2032) | $975000 | &nbsp;&nbsp;&nbsp; $1055820 |
| Georgia Main Street Natural Gas, Inc., Gas Supply Rev., "B", 5%, 12/01/2052 (Put Date 6/01/2029) | 500000 | &nbsp;&nbsp;&nbsp; 522894 |
| Georgia Main Street Natural Gas, Inc., Gas Supply Rev., "C", 5%, 9/01/2053 (Put Date 9/01/2030) | 455000 | &nbsp;&nbsp;&nbsp; 484297 |
| Georgia Main Street Natural Gas, Inc., Gas Supply Rev., "E", 5%, 5/01/2055 (Put Date 12/01/2032) | 500000 | &nbsp;&nbsp;&nbsp; 533347 |
| Georgia Municipal Electric Authority (Plant Vogtle Units 3 & 4 Project J), "A", AGM, 5%, 7/01/2037  | 250000 | &nbsp;&nbsp;&nbsp; 274937 |
| Georgia Municipal Electric Authority (Plant Vogtle Units 3 & 4 Project J), "A", AGM, 5%, 7/01/2038  | 250000 | &nbsp;&nbsp;&nbsp; 273341 |
| Georgia Municipal Electric Authority (Plant Vogtle Units 3 & 4 Project J), "A", AGM, 5%, 7/01/2039  | 250000 | &nbsp;&nbsp;&nbsp; 271041 |
| Georgia Municipal Electric Authority (Plant Vogtle Units 3 & 4 Project J), "A", AGM, 5%, 7/01/2040  | 500000 | &nbsp;&nbsp;&nbsp; 536588 |
| Georgia Municipal Gas Authority Rev. (Mid-State Energy Commission Project), BAM, 5%, 9/01/2050  | 1000000 | &nbsp;&nbsp;&nbsp; 1020117 |
| Georgia Private Colleges & Universities Authority Rev. (Emory University), "B", 4%, 9/01/2039  | 985000 | &nbsp;&nbsp;&nbsp; 994048 |
| Savannah, GA, Convention Center Authority Rev. (Convention Center Hotel First Tier), "A", 5.25%, 6/01/2040  | 500000 | &nbsp;&nbsp;&nbsp; 537472 |
| Savannah, GA, Convention Center Authority Rev. (Convention Center Hotel Second Tier), "B", 5.5%, 6/01/2040  | 865000 | &nbsp;&nbsp;&nbsp; 884460 |
|  |  | &nbsp;&nbsp;&nbsp; $11665187 |
| Guam – 0.3% | Guam – 0.3% | Guam – 0.3% |
| Guam Government Business Privilege Tax Refunding Rev., "F", 4%, 1/01/2042  | $30000 | &nbsp;&nbsp;&nbsp; $28925 |
| Guam Government Limited Obligation Rev., "A", 5%, 12/01/2036  | 60000 | &nbsp;&nbsp;&nbsp; 60629 |
| Guam Government Limited Obligation Rev., "A", 5%, 12/01/2046  | 175000 | &nbsp;&nbsp;&nbsp; 176324 |
| Guam Waterworks Authority Rev. (Water and Wastewater System), 5%, 7/01/2040  | 380000 | &nbsp;&nbsp;&nbsp; 385402 |
| Guam Waterworks Authority Rev. (Water and Wastewater System), 5%, 1/01/2046  | 300000 | &nbsp;&nbsp;&nbsp; 300140 |
|  |  | &nbsp;&nbsp;&nbsp; $951420 |
| Hawaii – 0.2% | Hawaii – 0.2% | Hawaii – 0.2% |
| Hawaii Airports System Rev., "C", 5%, 7/01/2043  | $800000 | &nbsp;&nbsp;&nbsp; $841616 |
| Idaho – 0.6% | Idaho – 0.6% | Idaho – 0.6% |
| Idaho Health Facilities Authority Rev. (St. Luke's Health System Project), "C", 5%, 3/01/2060 (Put Date 3/01/2035) | $480000 | &nbsp;&nbsp;&nbsp; $529762 |
| Idaho Housing and Finance Association, Nonprofit Facilities Rev. (Compass Public Charter School, Inc. Project), "A", 6%, <br> 7/01/2039 (n)<br>| 735000 | &nbsp;&nbsp;&nbsp; 750442 |
| Idaho Housing and Finance Association, Nonprofit Facilities Rev. (Sage International School of Middleton Project), "A", 4%, <br> 5/01/2031 <br>| 220000 | &nbsp;&nbsp;&nbsp; 225819 |
| Idaho Housing and Finance Association, Nonprofit Facilities Rev. (Sage International School of Middleton Project), "A", 4%, <br> 5/01/2035 <br>| 425000 | &nbsp;&nbsp;&nbsp; 430640 |
| Idaho Housing and Finance Association, Nonprofit Facilities Rev. (White Pine Charter School Project), "A", 5.5%, 5/01/2043  | 350000 | &nbsp;&nbsp;&nbsp; 364429 |
|  |  | &nbsp;&nbsp;&nbsp; $2301092 |
| Illinois – 5.2% | Illinois – 5.2% | Illinois – 5.2% |
| Bellwood, IL, Tax Increment Rev., Taxable (Workforce Housing Project), 5%, 12/01/2036  | $750000 | &nbsp;&nbsp;&nbsp; $794200 |
| Bridgeview, IL, Stadium & Redevelopment Projects, Taxable, AAC, 5.14%, 12/01/2036  | 245000 | &nbsp;&nbsp;&nbsp; 229155 |
| Chicago, IL, Board of Education, "A", NPFG, 5.5%, 12/01/2026  | 25000 | &nbsp;&nbsp;&nbsp; 25274 |
| Chicago, IL, Board of Education, Dedicated Capital Improvement, 6.1%, 4/01/2036  | 455000 | &nbsp;&nbsp;&nbsp; 466744 |
| Chicago, IL, Board of Education, Dedicated Capital Improvement, 5%, 4/01/2041  | 1000000 | &nbsp;&nbsp;&nbsp; 1029385 |
| Chicago, IL, Board of Education, Unlimited Tax General Obligation Refunding Dedicated Rev., "A", 5%, 12/01/2030  | 500000 | &nbsp;&nbsp;&nbsp; 510461 |
| Chicago, IL, Board of Education, Unlimited Tax General Obligation Refunding Dedicated Rev., "A", 5.25%, 12/01/2036  | 500000 | &nbsp;&nbsp;&nbsp; 508449 |
| Chicago, IL, Board of Education, Unlimited Tax General Obligation Refunding Dedicated Rev., "B", 4%, 12/01/2041  | 225000 | &nbsp;&nbsp;&nbsp; 195924 |
| Chicago, IL, General Obligation, "A", 5.25%, 1/01/2038  | 1000000 | &nbsp;&nbsp;&nbsp; 1039953 |
| Chicago, IL, Illinois Chicago Midway Airport, Senior Lien Refunding Rev., "A", 5.25%, 1/01/2043  | 820000 | &nbsp;&nbsp;&nbsp; 864515 |
| Chicago, IL, Midway Airport Rev., "A", BAM, 5.5%, 1/01/2040  | 1000000 | &nbsp;&nbsp;&nbsp; 1100485 |
| Chicago, IL, O'Hare International Airport Rev., Special Facilities, 5%, 7/01/2033  | 170000 | &nbsp;&nbsp;&nbsp; 175264 |
| Chicago, IL, O'Hare International Airport Rev., Senior Lien, "C", 5%, 1/01/2033  | 400000 | &nbsp;&nbsp;&nbsp; 436325 |
| Chicago, IL, O'Hare International Airport Rev., Senior Lien, "C", 5%, 1/01/2034  | 200000 | &nbsp;&nbsp;&nbsp; 217212 |
| Cook County, IL, Community College District No. 508, Unlimited Tax General Obligation Refunding Dedicated Rev. (City <br> Colleges), BAM, 5%, 12/01/2038 <br>| 1000000 | &nbsp;&nbsp;&nbsp; 1081953 |
| Illinois Finance Authority Refunding Rev. (Silver Cross Hospital & Medical Centers), "B-2", 5%, 8/15/2044 (Put Date 8/15/2035) | 625000 | &nbsp;&nbsp;&nbsp; 693411 |
| Illinois Finance Authority Rev. (Dominican University), 5%, 3/01/2032  | 655000 | &nbsp;&nbsp;&nbsp; 680096 |
| Illinois Finance Authority Rev. (OSF Healthcare System), "A", 4.125%, 11/15/2037  | 70000 | &nbsp;&nbsp;&nbsp; 69198 |
| Illinois Finance Authority Rev. (Plymouth Place, Inc.), "A", 5.625%, 5/15/2030  | 855000 | &nbsp;&nbsp;&nbsp; 894343 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Municipal Bonds – continued | Municipal Bonds – continued | Municipal Bonds – continued |
| Illinois – continued | Illinois – continued | Illinois – continued |
| Illinois Finance Authority Rev. (The Moorings of Arlington Heights), "A", 5%, 11/01/2036  | $870000 | &nbsp;&nbsp;&nbsp; $939272 |
| Illinois Finance Authority Rev. (UChicago Medicine), "A-3", 5%, 8/15/2064 (Put Date 8/15/2035) | 1500000 | &nbsp;&nbsp;&nbsp; 1651097 |
| Illinois Finance Authority Rev., Taxable (Christian Horizons Obligated Group), "B", 3.25%, 5/15/2027 (a)(d) | 21398 | &nbsp;&nbsp;&nbsp; 1070 |
| Illinois Finance Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), "A", <br> 4.25%, 7/01/2041 <br>| 555000 | &nbsp;&nbsp;&nbsp; 564222 |
| Illinois Finance Authority, Solid Waste Disposal Rev. (Waste Management, Inc. Project), 3.45%, <br> 11/01/2044 (Put Date 11/02/2026)<br>| 100000 | &nbsp;&nbsp;&nbsp; 100099 |
| Illinois Finance Authority, Student Housing & Academic Facility Rev. (CHF - Chicago LLC - University of Illinois at Chicago <br> Project), "A", 5%, 2/15/2037 <br>| 1100000 | &nbsp;&nbsp;&nbsp; 1109050 |
| Illinois Finance Authority, Surface Freight Transfer Facilities Rev. (Centerpoint Joliet Terminal Railroad Project), 4.8%, <br> 12/01/2043 (Put Date 7/02/2035)<br>| 385000 | &nbsp;&nbsp;&nbsp; 397410 |
| Illinois Finance Authority, Surface Freight Transfer Facilities Rev. (Centerpoint Joliet Terminal Railroad Project), 4.8%, <br> 12/01/2043 (Put Date 7/02/2035)<br>| 670000 | &nbsp;&nbsp;&nbsp; 691597 |
| Illinois Finance Authority, Water Facilities Refunding Rev. (American Water Capital Corp. Project), 3.875%, <br> 5/01/2040 (Put Date 9/01/2028)<br>| 250000 | &nbsp;&nbsp;&nbsp; 255163 |
| Northeastern, IL, Board of Trustees, University Certificates of Participation (Capital Improvement Projects), BAM, 5.25%, <br> 7/01/2037 <br>| 400000 | &nbsp;&nbsp;&nbsp; 440286 |
| Rock Island County, IL, School District No. 41, General Obligation, "A", AGM, 5%, 1/01/2043  | 1000000 | &nbsp;&nbsp;&nbsp; 1058258 |
| St. Clair County, IL, Cahokia Community Unit School District No. 187, General Obligation, "A", AGM, 5%, 1/01/2027  | 30000 | &nbsp;&nbsp;&nbsp; 30636 |
| St. Clair County, IL, Cahokia Community Unit School District No. 187, General Obligation, "A", AGM, 5%, 1/01/2037  | 115000 | &nbsp;&nbsp;&nbsp; 127264 |
| State of Illinois, General Obligation, 5.5%, 5/01/2039  | 150000 | &nbsp;&nbsp;&nbsp; 160504 |
| Tazewell County, IL, School District No. 52, General Obligation, BAM, 6.5%, 12/01/2042  | 225000 | &nbsp;&nbsp;&nbsp; 267187 |
|  |  | &nbsp;&nbsp;&nbsp; $18805462 |
| Indiana – 2.5% | Indiana – 2.5% | Indiana – 2.5% |
| Gary/Chicago, IN, International Airport Authority, Development Zone Rev., AGM, 5.25%, 2/01/2042  | $490000 | &nbsp;&nbsp;&nbsp; $532888 |
| Indiana Finance Authority Rev. (Greenwood Village South Project), "C-2", 3.75%, 5/15/2032  | 100000 | &nbsp;&nbsp;&nbsp; 100188 |
| Indiana Finance Authority Rev. (Marquette Project), "A", 5%, 3/01/2036  | 780000 | &nbsp;&nbsp;&nbsp; 840992 |
| Indiana Finance Authority, Educational Facilities Rev. (Valparaiso University Project), 5%, 10/01/2026  | 200000 | &nbsp;&nbsp;&nbsp; 200913 |
| Indiana Finance Authority, Health System Rev. (Indiana University Health), "D-5", 5%, 10/01/2054 (Put Date 10/01/2037) | 1000000 | &nbsp;&nbsp;&nbsp; 1108109 |
| Indiana Finance Authority, Senior Living Rev. (Indiana Masonic Home Project), "A", 4.3%, 5/01/2029  | 120000 | &nbsp;&nbsp;&nbsp; 121653 |
| Indiana Finance Authority, Senior Living Rev. (Indiana Masonic Home Project), "B", 5%, 5/01/2035  | 530000 | &nbsp;&nbsp;&nbsp; 566006 |
| Indiana Finance Authority, Student Housing Rev. (CHF - Tippecanoe LLC - Student Housing Project), "A", 5%, 6/01/2038  | 800000 | &nbsp;&nbsp;&nbsp; 841005 |
| Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev., "1A", 5%, 6/01/2031  | 1000000 | &nbsp;&nbsp;&nbsp; 1056459 |
| Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev., "1A", 4%, 6/01/2046  | 1090000 | &nbsp;&nbsp;&nbsp; 1055885 |
| Indianapolis, IN, Local Public Improvement Bond Bank (Indianapolis Airport Authority Project), "B", 5%, 1/01/2033  | 1130000 | &nbsp;&nbsp;&nbsp; 1262045 |
| Indianapolis, IN, Local Public Improvement Bond Bank Rev. (Convention Center Hotel), "E", 5.5%, 3/01/2038  | 500000 | &nbsp;&nbsp;&nbsp; 543038 |
| Whiting, IN, Environmental Facilities Rev. (BP Products North America, Inc. Project), 4.4%, 11/01/2045 (Put Date 6/10/2031) | 750000 | &nbsp;&nbsp;&nbsp; 786954 |
|  |  | &nbsp;&nbsp;&nbsp; $9016135 |
| Iowa – 0.8% | Iowa – 0.8% | Iowa – 0.8% |
| Bondurant, IA, General Obligation, "B", 5.25%, 6/01/2038  | $1000000 | &nbsp;&nbsp;&nbsp; $1103825 |
| Iowa Student Loan Liquidity Corp. Rev., "B", 5%, 12/01/2033  | 1150000 | &nbsp;&nbsp;&nbsp; 1243150 |
| Iowa Student Loan Liquidity Corp. Rev., "B", 5%, 12/01/2034  | 350000 | &nbsp;&nbsp;&nbsp; 378480 |
| Iowa Student Loan Liquidity Corp. Rev., "C", 3.5%, 12/01/2044  | 115000 | &nbsp;&nbsp;&nbsp; 91015 |
|  |  | &nbsp;&nbsp;&nbsp; $2816470 |
| Kansas – 0.3% | Kansas – 0.3% | Kansas – 0.3% |
| Garden City, KS, Sales Tax Special Obligation Rev. (Sports of the World Star Bond Project-Phase II), 4.25%, 6/01/2033  | $160000 | &nbsp;&nbsp;&nbsp; $159614 |
| Kansas Development Finance Authority, Multi-Family Mortgage-Backed (Sycamore Village), FNMA, 4.17%, 11/01/2041  | 179876 | &nbsp;&nbsp;&nbsp; 181874 |
| Topeka, KS, Health Care Facilities Rev. (Brewster Place), "A", 5.75%, 12/01/2033  | 675000 | &nbsp;&nbsp;&nbsp; 702682 |
|  |  | &nbsp;&nbsp;&nbsp; $1044170 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Municipal Bonds – continued | Municipal Bonds – continued | Municipal Bonds – continued |
| Kentucky – 0.8% | Kentucky – 0.8% | Kentucky – 0.8% |
| Kentucky Higher Education Student Loan Corp. Rev., "A-1", 5%, 6/01/2031  | $500000 | &nbsp;&nbsp;&nbsp; $527979 |
| Kentucky Public Energy Authority, Gas Supply Rev., "B", 5%, 12/01/2033  | 1415000 | &nbsp;&nbsp;&nbsp; 1466903 |
| Owen County, KY, Water Facilities Refunding Rev. (Kentucky-American Water Co. Project), 3.875%, <br> 6/01/2040 (Put Date 9/01/2028)<br>| 275000 | &nbsp;&nbsp;&nbsp; 280679 |
| Trimble County, KY, Environmental Facilities Rev. (Kentucky Utilities Co. Project), "A", 4.7%, 6/01/2054 (Put Date 6/01/2027) | 210000 | &nbsp;&nbsp;&nbsp; 211580 |
| Trimble County, KY, Environmental Facilities Rev. (Louisville Gas & Electric Co. Project), "A", 4.7%, <br> 6/01/2054 (Put Date 6/01/2027)<br>| 345000 | &nbsp;&nbsp;&nbsp; 347597 |
|  |  | &nbsp;&nbsp;&nbsp; $2834738 |
| Louisiana – 0.8% | Louisiana – 0.8% | Louisiana – 0.8% |
| Capital Area Finance Authority, LA, Single Family Mortgage Rev., GNMA, 6.5%, 4/01/2054  | $245000 | &nbsp;&nbsp;&nbsp; $273169 |
| Shreveport, LA, General Obligation, AGM, 5%, 3/01/2041  | 1000000 | &nbsp;&nbsp;&nbsp; 1072625 |
| Shreveport, LA, Water & Sewer Refunding Rev., AGM, 5%, 12/01/2040  | 1500000 | &nbsp;&nbsp;&nbsp; 1634936 |
|  |  | &nbsp;&nbsp;&nbsp; $2980730 |
| Maine – 0.7% | Maine – 0.7% | Maine – 0.7% |
| Maine Finance Authority, Solid Waste Disposal Rev. (Casella Waste Systems, Inc. Project), 4.625%, <br> 12/01/2047 (Put Date 6/01/2035)<br>| $100000 | &nbsp;&nbsp;&nbsp; $100760 |
| Maine Finance Authority, Solid Waste Disposal Rev. (Casella Waste Systems, Inc. Project), "R-3", 5%, 8/01/2035  | 400000 | &nbsp;&nbsp;&nbsp; 412748 |
| Maine Finance Authority, Student Loan Rev. (Supplemental Education Loan Program), "A-1", AGM, 5.25%, 12/01/2031  | 965000 | &nbsp;&nbsp;&nbsp; 1048174 |
| Maine Finance Authority, Student Loan Rev. (Supplemental Education Loan Program), "A-1", AGM, 5%, 12/01/2037  | 430000 | &nbsp;&nbsp;&nbsp; 449118 |
| Maine Health & Higher Educational Facilities Authority Rev. (University of New England), "B", 4%, 7/01/2037  | 500000 | &nbsp;&nbsp;&nbsp; 502361 |
|  |  | &nbsp;&nbsp;&nbsp; $2513161 |
| Maryland – 0.5% | Maryland – 0.5% | Maryland – 0.5% |
| Baltimore, MD, Project Rev. (Water Projects), "A", 4%, 7/01/2038  | $450000 | &nbsp;&nbsp;&nbsp; $457676 |
| Maryland Department of Transportation, Special Transportation Project Rev. (Baltimore/Washington Internation Thurgood <br> Marshall Airport), "A", AGM, 5%, 8/01/2034 <br>| 1000000 | &nbsp;&nbsp;&nbsp; 1132112 |
| Maryland Health & Higher Education, Facilities Authority Rev. (Kennedy Krieger Institute, Inc.), "A", 5.25%, 7/01/2044  | 300000 | &nbsp;&nbsp;&nbsp; 315362 |
|  |  | &nbsp;&nbsp;&nbsp; $1905150 |
| Massachusetts – 1.8% | Massachusetts – 1.8% | Massachusetts – 1.8% |
| Massachusetts Development Finance Agency Rev. (Bentley University), 5%, 7/01/2040  | $990000 | &nbsp;&nbsp;&nbsp; $995843 |
| Massachusetts Development Finance Agency Rev. (Brown University), "B", 5%, 8/15/2055 (Put Date 8/15/2031) | 270000 | &nbsp;&nbsp;&nbsp; 293261 |
| Massachusetts Development Finance Agency Rev. (Lasell University), 4%, 7/01/2026  | 100000 | &nbsp;&nbsp;&nbsp; 99897 |
| Massachusetts Development Finance Agency Rev. (Merrimack College Student Housing Project), "A", 4.25%, 7/01/2034  | 500000 | &nbsp;&nbsp;&nbsp; 511263 |
| Massachusetts Development Finance Agency Rev. (Simmons University), "N", 5.25%, 10/01/2036  | 500000 | &nbsp;&nbsp;&nbsp; 500341 |
| Massachusetts Development Finance Agency Rev. (South Shore Hospital), "I", 4%, 7/01/2036  | 90000 | &nbsp;&nbsp;&nbsp; 88247 |
| Massachusetts Development Finance Agency, Refunding Rev. (Lasell Village, Inc.), 5%, 7/01/2034  | 1140000 | &nbsp;&nbsp;&nbsp; 1244199 |
| Massachusetts Educational Financing Authority, Education Loan Rev., "B", 3.625%, 7/01/2038  | 220000 | &nbsp;&nbsp;&nbsp; 218994 |
| Massachusetts Educational Financing Authority, Education Loan Rev., "C", 5%, 7/01/2032  | 1000000 | &nbsp;&nbsp;&nbsp; 1079546 |
| Massachusetts Housing Finance Agency, "D-3", FHA, 3.35%, 6/01/2027  | 1000000 | &nbsp;&nbsp;&nbsp; 1000210 |
| Massachusetts Housing Finance Agency, Single Family Housing Rev., "225", 5.5%, 12/01/2052  | 415000 | &nbsp;&nbsp;&nbsp; 439399 |
|  |  | &nbsp;&nbsp;&nbsp; $6471200 |
| Michigan – 2.0% | Michigan – 2.0% | Michigan – 2.0% |
| Michigan Finance Authority, Higher Education Facilities, Limited Obligation Rev. (Kalamazoo College Project), 5%, 12/01/2036  | $330000 | &nbsp;&nbsp;&nbsp; $368893 |
| Michigan Finance Authority, Hospital Refunding Rev. (Corewell Health), "B-2", 5%, 8/15/2055 (Put Date 6/01/2035) | 945000 | &nbsp;&nbsp;&nbsp; 1074521 |
| Michigan Finance Authority, Hospital Rev. (Bronson Healthcare Group, Inc.), "B", 5%, 11/15/2044 (Put Date 11/16/2026) | 325000 | &nbsp;&nbsp;&nbsp; 326466 |
| Michigan Housing Development Authority, Multi-Family Housing Rev. (Clark Road Senior Apartments Project), 4.5%, <br> 12/01/2042 (Put Date 4/01/2026)<br>| 515000 | &nbsp;&nbsp;&nbsp; 516828 |
| Michigan Housing Development Authority, Rental Housing Rev., "A", 3.7%, 4/01/2030  | 800000 | &nbsp;&nbsp;&nbsp; 800360 |
| Michigan Housing Development Authority, Single Family Mortgage Rev., "D", 5.5%, 6/01/2053  | 265000 | &nbsp;&nbsp;&nbsp; 279894 |
| Michigan Strategic Fund (Waste Management, Inc.), 4.125%, 8/01/2027  | 300000 | &nbsp;&nbsp;&nbsp; 300740 |
| Michigan Strategic Fund Limited Obligation Rev. (DTE Electric Co. Exempt Facilities Project), "DT", 3.875%, <br> 6/01/2053 (Put Date 6/03/2030)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 980631 |
| Michigan Strategic Fund Limited Obligation Rev. (I-75 Improvement Project), AGM, 4.125%, 6/30/2035  | 1000000 | &nbsp;&nbsp;&nbsp; 1006885 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Municipal Bonds – continued | Municipal Bonds – continued | Municipal Bonds – continued |
| Michigan – continued | Michigan – continued | Michigan – continued |
| Wayne County, MI, Airport Authority Refunding Rev. (Detroit Metropolitan Wayne County Airport), "D", 5%, 12/01/2036  | $300000 | &nbsp;&nbsp;&nbsp; $332662 |
| Wayne County, MI, Airport Authority Refunding Rev. (Detroit Metropolitan Wayne County Airport), "F", 5%, 12/01/2035  | 450000 | &nbsp;&nbsp;&nbsp; 503250 |
| Wayne County, MI, Airport Authority Rev., "B", 5.25%, 12/01/2039  | 700000 | &nbsp;&nbsp;&nbsp; 779562 |
|  |  | &nbsp;&nbsp;&nbsp; $7270692 |
| Minnesota – 0.6% | Minnesota – 0.6% | Minnesota – 0.6% |
| Duluth, MN, Economic Development Authority Rev. (Benedictine Health System), "A", 3%, 7/01/2026  | $125000 | &nbsp;&nbsp;&nbsp; $123955 |
| Minnesota Office of Higher Education Supplemental Student Loan Program Rev., 4%, 11/01/2042  | 1000000 | &nbsp;&nbsp;&nbsp; 967685 |
| Rum River Special Education Cooperative, Minnesota Joint Powers Entity, Certificates of Participation, "A", 5%, 2/01/2035  | 1000000 | &nbsp;&nbsp;&nbsp; 1062681 |
|  |  | &nbsp;&nbsp;&nbsp; $2154321 |
| Mississippi – 0.1% | Mississippi – 0.1% | Mississippi – 0.1% |
| Mississippi Development Bank, Special Obligation (Jackson Water and Sewer System Rev. Bond Project), AGM, 6.875%, <br> 12/01/2040 <br>| $65000 | &nbsp;&nbsp;&nbsp; $66067 |
| Mississippi Home Corp., Single Family Mortgage Rev., "E", GNMA, 7.5%, 6/01/2044  | 125000 | &nbsp;&nbsp;&nbsp; 151236 |
|  |  | &nbsp;&nbsp;&nbsp; $217303 |
| Missouri – 0.3% | Missouri – 0.3% | Missouri – 0.3% |
| Missouri Development Finance Board, Infrastructure Facilities Rev. (City of Independence, Missouri-Public Safety Projects), "A", <br> AGM, 5%, 12/01/2036 <br>| $285000 | &nbsp;&nbsp;&nbsp; $315128 |
| Missouri Development Finance Board, Infrastructure Facilities Rev. (Crackerneck Creek Project), 5%, 3/01/2026  | 150000 | &nbsp;&nbsp;&nbsp; 150244 |
| Missouri Housing Development Commission, Single Family Mortgage Rev. (First Place Homeownership Loan Program), "E", <br> GNMA, 6.5%, 5/01/2054 <br>| 270000 | &nbsp;&nbsp;&nbsp; 302887 |
| Plaza at Noah's Ark Community District, MO, Tax Increment and Improvement Rev., 3%, 5/01/2026  | 125000 | &nbsp;&nbsp;&nbsp; 124509 |
| Poplar Bluff, MO, Transportation Development District Convertible Transportation Sales Tax Refunding & Improvement Rev., <br> "B", 3.375%, 12/01/2031 <br>| 50000 | &nbsp;&nbsp;&nbsp; 49725 |
| St. Louis, MO, Industrial Development Authority, Tax Increment & Special District Rev. (Union Station Phase 2 Redevelopment <br> Project), "A", 4.875%, 6/15/2034 <br>| 335000 | &nbsp;&nbsp;&nbsp; 342315 |
|  |  | &nbsp;&nbsp;&nbsp; $1284808 |
| Montana – 0.2% | Montana – 0.2% | Montana – 0.2% |
| Forsyth, MT, Pollution Control Rev. (Avista Corp. Colstrip Project), "A", 3.875%, 10/01/2032  | $410000 | &nbsp;&nbsp;&nbsp; $422149 |
| Kalispell, MT, Refunding Rev. (Immanuel Living at Buffalo Hill Project), "B-2", 4.25%, 5/15/2030  | 380000 | &nbsp;&nbsp;&nbsp; 381586 |
|  |  | &nbsp;&nbsp;&nbsp; $803735 |
| Nebraska – 0.3% | Nebraska – 0.3% | Nebraska – 0.3% |
| Omaha, NE, Airport Authority, Facilities Rev., AGM, 5%, 12/15/2036  | $1000000 | &nbsp;&nbsp;&nbsp; $1115737 |
| Nevada – 0.4% | Nevada – 0.4% | Nevada – 0.4% |
| Clark County, NV, Jet Aviation Fuel Tax Refunding Rev., "A", 5%, 7/01/2026  | $455000 | &nbsp;&nbsp;&nbsp; $459775 |
| Sparks, NV, Tourism Improvement District No. 1, Senior Sales Tax Anticipation Rev. (Legends at Sparks Marina), 3.875%, <br> 6/15/2028 <br>| 1000000 | &nbsp;&nbsp;&nbsp; 1001199 |
| Washoe County, NV, Water Facilities Rev. (Sierra Pacific Power Company Projects), "F", 4.125%, <br> 3/01/2036 (Put Date 10/01/2029)<br>| 115000 | &nbsp;&nbsp;&nbsp; 117534 |
|  |  | &nbsp;&nbsp;&nbsp; $1578508 |
| New Hampshire – 2.5% | New Hampshire – 2.5% | New Hampshire – 2.5% |
| National Finance Authority, NH, Affordable Housing Certificates, "A-1", 4.75%, 6/20/2041 (Put Date 6/01/2035) | $1248239 | &nbsp;&nbsp;&nbsp; $1286019 |
| National Finance Authority, NH, Lease Rent Rev. (Centurion Biosquare, Inc.), "A", 5.88%, 12/15/2038  | 915000 | &nbsp;&nbsp;&nbsp; 946229 |
| National Finance Authority, NH, Lease Rent Rev. (Centurion Foundation West Main Street LLC), "A", 5%, 5/15/2034  | 590000 | &nbsp;&nbsp;&nbsp; 605899 |
| National Finance Authority, NH, Lease Rent Rev., Taxable (Centurion Biosquare, Inc.), "B", 9.58%, 12/15/2038  | 55000 | &nbsp;&nbsp;&nbsp; 55882 |
| National Finance Authority, NH, Lease Rent Rev., Taxable (Centurion Foundation West Main Street LLC), "B", 8.33%, 5/15/2034  | 100000 | &nbsp;&nbsp;&nbsp; 103532 |
| National Finance Authority, NH, Lease Rev. (NCCD - UNR Properties LLC - University of Nevada, Reno Project), "A", BAM, <br> 5.25%, 12/01/2042 <br>| 1070000 | &nbsp;&nbsp;&nbsp; 1153745 |
| National Finance Authority, NH, Multi-Family Housing Rev., 4.45%, 7/01/2044  | 490000 | &nbsp;&nbsp;&nbsp; 498630 |
| National Finance Authority, NH, Municipal Certificates, "1-A", 4.375%, 9/20/2036  | 267298 | &nbsp;&nbsp;&nbsp; 272107 |
| National Finance Authority, NH, Municipal Certificates, "A-1", 4.167%, 1/20/2041  | 213597 | &nbsp;&nbsp;&nbsp; 211682 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Municipal Bonds – continued | Municipal Bonds – continued | Municipal Bonds – continued |
| New Hampshire – continued | New Hampshire – continued | New Hampshire – continued |
| National Finance Authority, NH, Municipal Certificates, "A-2", 4.167%, 1/20/2041  | $99348 | &nbsp;&nbsp;&nbsp; $93305 |
| National Finance Authority, NH, Municipal Certificates, "1-A", 4.25%, 7/20/2041  | 154943 | &nbsp;&nbsp;&nbsp; 155780 |
| National Finance Authority, NH, Rev., Taxable (Centurion Foundation), "C", 11%, 12/15/2038  | 30000 | &nbsp;&nbsp;&nbsp; 30458 |
| National Finance Authority, NH, Solid Waste Disposal Refunding Rev. (Waste Management, Inc. Project), "A-4", 4%, <br> 8/01/2038 (Put Date 7/01/2026)<br>| 855000 | &nbsp;&nbsp;&nbsp; 855638 |
| National Finance Authority, NH, Special Rev. (Caldwell Ranch Project, Branch & Fort Bend Counties, TX), 4.875%, 12/01/2033  | 100000 | &nbsp;&nbsp;&nbsp; 99800 |
| National Finance Authority, NH, Special Rev. (Highland Project, Montgomery County, TX), 5.125%, 12/15/2030  | 156000 | &nbsp;&nbsp;&nbsp; 156055 |
| New Hampshire Business Finance Authority, Water Facility Rev. (Pennichuck Water Works, Inc. Project), "A", 5%, 4/01/2027  | 105000 | &nbsp;&nbsp;&nbsp; 106867 |
| New Hampshire Business Finance Authority, Water Facility Rev. (Pennichuck Water Works, Inc. Project), "A", 5.75%, 4/01/2035  | 110000 | &nbsp;&nbsp;&nbsp; 123696 |
| New Hampshire Business Finance Authority, Water Facility Rev. (Pennichuck Water Works, Inc. Project), "A", 5.75%, 4/01/2037  | 245000 | &nbsp;&nbsp;&nbsp; 271932 |
| New Hampshire Business Finance Authority, Water Facility Rev. (Pennichuck Water Works, Inc. Project), "A", 5.75%, 4/01/2040  | 290000 | &nbsp;&nbsp;&nbsp; 315542 |
| New Hampshire Health & Education Facilities Authority Rev. (Dartmouth Hitchcock Obligated Group), "A", 5%, 8/01/2038  | 255000 | &nbsp;&nbsp;&nbsp; 261718 |
| New Hampshire Health & Education Facilities Authority, Education Loan Rev. (Granite Edvance Corp. Issue), "B", 5%, <br> 11/01/2033 <br>| 100000 | &nbsp;&nbsp;&nbsp; 108426 |
| New Hampshire Health & Education Facilities Authority, Education Loan Rev. (Granite Edvance Corp. Issue), "B", 4%, <br> 11/01/2044 <br>| 110000 | &nbsp;&nbsp;&nbsp; 106562 |
| New Hampshire Heath & Education Facility Authority Rev. (Riverwoods at Exeter), 5%, 10/01/2038  | 1000000 | &nbsp;&nbsp;&nbsp; 1084646 |
|  |  | &nbsp;&nbsp;&nbsp; $8904150 |
| New Jersey – 1.1% | New Jersey – 1.1% | New Jersey – 1.1% |
| Camden County, NJ, Improvement Authority, Multi-Family Housing Rev. (Northgate I Apartments Project), 5%, <br> 3/01/2027 (Put Date 3/01/2026)<br>| $375000 | &nbsp;&nbsp;&nbsp; $376176 |
| New Jersey Economic Development Authority, Charter School Rev. (Central Jersey College Prep Charter School Project), 5%, <br> 11/01/2035 <br>| 500000 | &nbsp;&nbsp;&nbsp; 539077 |
| New Jersey Economic Development Authority, Dock & Wharf Facility Rev. (Repauno Port & Rail Terminal Project), 6.375%, <br> 1/01/2035 <br>| 170000 | &nbsp;&nbsp;&nbsp; 175945 |
| New Jersey Economic Development Authority, Water Facilities Rev. (American Water Co., Inc. Project), "B", 3.75%, <br> 11/01/2034 (Put Date 6/01/2028)<br>| 260000 | &nbsp;&nbsp;&nbsp; 263023 |
| New Jersey Higher Education Student Assistance Authority, Senior Student Loan Rev., "B", 5%, 12/01/2033  | 1000000 | &nbsp;&nbsp;&nbsp; 1090992 |
| New Jersey Higher Education Student Assistance Authority, Senior Student Loan Rev., "B", 4%, 12/01/2041  | 440000 | &nbsp;&nbsp;&nbsp; 437786 |
| Passaic County, NJ, Improvement Authority, Charter School Rev. (Paterson Charter School for Science & Technology, Inc. <br> Project), 4.125%, 7/01/2033 <br>| 600000 | &nbsp;&nbsp;&nbsp; 613816 |
| South Jersey Transportation Authority, NJ, System Rev., "A", BAM, 5%, 11/01/2037  | 375000 | &nbsp;&nbsp;&nbsp; 415369 |
|  |  | &nbsp;&nbsp;&nbsp; $3912184 |
| New Mexico – 0.6% | New Mexico – 0.6% | New Mexico – 0.6% |
| Farmington, NM, Pollution Control Rev. (Public Service Co. of New Mexico San Juan Project), "D", 3.9%, <br> 6/01/2040 (Put Date 6/01/2028)<br>| $1000000 | &nbsp;&nbsp;&nbsp; $1013293 |
| New Mexico Finance Authority, Public Project Revolving Rev., "A-2", 5%, 6/01/2034  | 600000 | &nbsp;&nbsp;&nbsp; 605017 |
| New Mexico Mortgage Finance Authority, Single Family Mortgage Program Class I, "E", GNMA, 6.25%, 9/01/2053  | 455000 | &nbsp;&nbsp;&nbsp; 498310 |
| New Mexico Mortgage Finance Authority, Single Family Mortgage Program, "D", GNMA, 5.25%, 3/01/2053  | 85000 | &nbsp;&nbsp;&nbsp; 89586 |
|  |  | &nbsp;&nbsp;&nbsp; $2206206 |
| New York – 3.5% | New York – 3.5% | New York – 3.5% |
| Build NYC Resource Corp. Rev. (Grand Concourse Academy Charter School Project), "A", 5%, 7/01/2032  | $300000 | &nbsp;&nbsp;&nbsp; $317801 |
| Build NYC Resource Corp. Rev. (KIPP NYC Public Schools Facilities - Canal West Project), 5%, 7/01/2036  | 750000 | &nbsp;&nbsp;&nbsp; 792949 |
| Build NYC Resource Corp. Rev. (Urban Resource Institute Project), "A", 4.125%, 12/01/2035  | 1250000 | &nbsp;&nbsp;&nbsp; 1303839 |
| Build NYC Resource Corp., Senior Airport Facilities Rev. (TRIPS Obligated Group), 5.5%, 7/01/2041  | 340000 | &nbsp;&nbsp;&nbsp; 370363 |
| Dutchess County, NY, Local Development Corp. Rev. (Nuvance Health), "B", 5%, 7/01/2028  | 330000 | &nbsp;&nbsp;&nbsp; 343988 |
| Genesse County, NY, Funding Corp. Rev. (Rochester Regional Health Project), "A", 5%, 12/01/2027  | 685000 | &nbsp;&nbsp;&nbsp; 708821 |
| Metropolitan Transportation Authority, NY, Transportation Refunding Rev. (Climate Bond Certified), "C-1", 4%, 11/15/2035  | 500000 | &nbsp;&nbsp;&nbsp; 502697 |
| Monroe County, NY, Industrial Development Agency Multi-Family Mortgage (Keeler Park Coummunity Partners LP Project), <br> 4.84%, 11/01/2040 <br>| 639908 | &nbsp;&nbsp;&nbsp; 677663 |
| New York Dormitory Authority Rev. (New School), "A", 5%, 7/01/2042  | 500000 | &nbsp;&nbsp;&nbsp; 510169 |
| New York Dormitory Authority Rev. (Pace University), "A", 5.25%, 5/01/2040  | 375000 | &nbsp;&nbsp;&nbsp; 401076 |
| New York Dormitory Authority Rev. (White Plains Hospital Obligated Group), AGM, 5.25%, 10/01/2044  | 560000 | &nbsp;&nbsp;&nbsp; 594252 |
| New York Energy Research & Development Authority, Pollution Control Rev. (New York State Electric & Gas Corp. Project), "C", <br> 4%, 4/01/2034 (Put Date 4/01/2034)<br>| 680000 | &nbsp;&nbsp;&nbsp; 703902 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Municipal Bonds – continued | Municipal Bonds – continued | Municipal Bonds – continued |
| New York – continued | New York – continued | New York – continued |
| New York Environmental Facilities Corp. Rev., Solid Waste Disposal (Casella Waste Management, Inc. Project), 4.25%, <br> 9/01/2050 (Put Date 9/03/2030) (n)<br>| $250000 | &nbsp;&nbsp;&nbsp; $251122 |
| New York Housing Development Corp., Multi-Family Housing Rev. (Sustainable Development), "D-1", 4.35%, 11/01/2044  | 625000 | &nbsp;&nbsp;&nbsp; 623301 |
| New York Housing Finance Agency Affordable Housing Rev., "A-2", 2.5%, 11/01/2060 (Put Date 5/01/2027) | 595000 | &nbsp;&nbsp;&nbsp; 589878 |
| New York State Energy Research & Development Authority, Pollution Control Rev. (Rochester Gas & Electric Corp. Project), "B", <br> 4%, 5/15/2032 <br>| 1220000 | &nbsp;&nbsp;&nbsp; 1248925 |
| New York Transportation Development Corp., Special Facilities Rev. (Delta Airlines, Inc. LaGuardia Airport Terminals C&D <br> Redevelopment Project), 5.625%, 4/01/2040 <br>| 165000 | &nbsp;&nbsp;&nbsp; 173116 |
| New York Transportation Development Corp., Special Facilities Rev. (Delta Airlines, Inc. LaGuardia Airport Terminals C&D <br> Redevelopment Project), 5%, 10/01/2040 <br>| 250000 | &nbsp;&nbsp;&nbsp; 253459 |
| New York Transportation Development Corp., Special Facilities Rev. (John F. Kennedy International Airport New Terminal One <br> Project), 5.5%, 6/30/2041 <br>| 750000 | &nbsp;&nbsp;&nbsp; 786430 |
| New York Transportation Development Corp., Special Facilities Rev. (John F. Kennedy International Airport Project), "A", 5%, <br> 12/01/2032 <br>| 270000 | &nbsp;&nbsp;&nbsp; 288241 |
| New York, NY, City Housing Development Corp., Multi-Family Housing Rev. (Sustainable Development), "F-2-A", 3.4%, <br> 11/01/2062 (Put Date 12/22/2026)<br>| 560000 | &nbsp;&nbsp;&nbsp; 560044 |
| New York, NY, Housing Development Corp., Multi-Family Mortgage Rev. (8 Spruce Street), "D", 4%, 12/15/2031  | 100000 | &nbsp;&nbsp;&nbsp; 102606 |
| Westchester County, NY, Industrial Development Agency, Multi-Family Housing Rev. (Armory Plaza Housing LP Project), 4.3%, <br> 6/01/2046 (Put Date 5/01/2041)<br>| 589603 | &nbsp;&nbsp;&nbsp; 589559 |
|  |  | &nbsp;&nbsp;&nbsp; $12694201 |
| North Carolina – 2.3% | North Carolina – 2.3% | North Carolina – 2.3% |
| Greater Asheville, NC, Regional Airport Authority System Rev., AGM, 5.25%, 7/01/2039  | $320000 | &nbsp;&nbsp;&nbsp; $348364 |
| Greater Asheville, NC, Regional Airport Authority System Rev., "A", AGM, 5.25%, 7/01/2038  | 320000 | &nbsp;&nbsp;&nbsp; 346801 |
| North Carolina Housing Finance Agency, Home Ownership Refunding Rev., "45", GNMA, 1.9%, 7/01/2032  | 780000 | &nbsp;&nbsp;&nbsp; 692973 |
| North Carolina Medical Care Commission, Health Care Facilities First Mortgage Rev. (Lutheran Services for the Aging), "A", <br> 5%, 3/01/2028 <br>| 125000 | &nbsp;&nbsp;&nbsp; 128807 |
| North Carolina Medical Care Commission, Health Care Facilities First Mortgage Rev. (Lutheran Services for the Aging), "A", <br> 4%, 3/01/2030 <br>| 145000 | &nbsp;&nbsp;&nbsp; 147827 |
| North Carolina Medical Care Commission, Retirement Facilities First Mortgage Refunding Rev. (Pennybyrn at Maryfield), 5%, <br> 10/01/2036 <br>| 250000 | &nbsp;&nbsp;&nbsp; 261811 |
| North Carolina Medical Care Commission, Retirement Facilities First Mortgage Refunding Rev. (Pennybyrn at Maryfield), <br> 5.25%, 10/01/2037 <br>| 330000 | &nbsp;&nbsp;&nbsp; 347520 |
| North Carolina Medical Care Commission, Retirement Facilities First Mortgage Rev. (Carol Woods Project), 5.25%, 12/01/2045  | 500000 | &nbsp;&nbsp;&nbsp; 519714 |
| North Carolina Medical Care Commission, Retirement Facilities First Mortgage Rev. (Deerfield Episcopal Retirement <br> Community Project), "A", 5.25%, 11/01/2046 (w)<br>| 1500000 | &nbsp;&nbsp;&nbsp; 1547076 |
| North Carolina Medical Care Commission, Retirement Facilities First Mortgage Rev. (Penick Village Project), "A", 5%, <br> 9/01/2034 <br>| 900000 | &nbsp;&nbsp;&nbsp; 950535 |
| North Carolina Medical Care Commission, Retirement Facilities First Mortgage Rev. (The United Methodist Retirement Homes <br> Project), "A", 5.125%, 10/01/2045 <br>| 535000 | &nbsp;&nbsp;&nbsp; 548368 |
| North Carolina Medical Care Commission, Retirement Facilities First Mortgage Rev. (United Methodist Retirement Homes <br> Project), "A", 5%, 10/01/2039 <br>| 500000 | &nbsp;&nbsp;&nbsp; 522793 |
| North Carolina Medical Care Commission, Retirement Facilities First Mortgage Rev. (United Methodist Retirement Homes <br> Project), "B1", 4.25%, 10/01/2028 <br>| 65000 | &nbsp;&nbsp;&nbsp; 65027 |
| North Carolina State Education Assistance Authority, Tax-Exempt Student Loan Refunding Rev. (A Political Subdivision of the <br> State of North Carolina), "A", 5%, 6/01/2045 <br>| 1185000 | &nbsp;&nbsp;&nbsp; 1240817 |
| North Carolina Turnpike Authority, Triangle Expressway System Appropriation Rev., Capital Appreciation, 0%, 1/01/2040  | 985000 | &nbsp;&nbsp;&nbsp; 549967 |
|  |  | &nbsp;&nbsp;&nbsp; $8218400 |
| North Dakota – 0.3% | North Dakota – 0.3% | North Dakota – 0.3% |
| Grand Forks, ND, Healthcare System Rev. (Altru Health System), AGM, 3%, 12/01/2039  | $985000 | &nbsp;&nbsp;&nbsp; $855613 |
| Horace, ND, Temporary Refunding Improvement, "B", 4.85%, 8/01/2026  | 160000 | &nbsp;&nbsp;&nbsp; 160056 |
|  |  | &nbsp;&nbsp;&nbsp; $1015669 |
| Ohio – 3.3% | Ohio – 3.3% | Ohio – 3.3% |
| Allen County, OH, Hospital Facilities Rev. (Bon Secours Mercy Health, Inc.), "B-2", 5%, 10/01/2051 (Put Date 6/04/2030) | $500000 | &nbsp;&nbsp;&nbsp; $547864 |
| Columbus, OH, Metropolitan Housing Authority, Affordable Housing Rev. (Country Ridge Apartments Project), 4.375%, <br> 12/01/2041 <br>| 1000000 | &nbsp;&nbsp;&nbsp; 998925 |
| Columbus, OH, Metropolitan Housing Authority, General Rev. (Orchards Project & Eden Park Project), 5%, 12/01/2034  | 500000 | &nbsp;&nbsp;&nbsp; 529833 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Municipal Bonds – continued | Municipal Bonds – continued | Municipal Bonds – continued |
| Ohio – continued | Ohio – continued | Ohio – continued |
| Columbus, OH, Metropolitan Housing Authority, General Rev. (Waldren Woods Project), 4%, 6/01/2034  | $190000 | &nbsp;&nbsp;&nbsp; $191451 |
| Columbus, OH, Regional Airport Authority Rev. (John Glenn Columbus International Airport), "A", AGM, 5%, 1/01/2035  | 205000 | &nbsp;&nbsp;&nbsp; 230649 |
| Columbus-Franklin County, OH, Finance Authority, Development Rev. (Quarry Trails Phase III Project), "A", 4.25%, 5/15/2035  | 1115000 | &nbsp;&nbsp;&nbsp; 1156694 |
| EHOVE Joint Vocational School District, OH, General Obligation School Improvement, 5.5%, 12/01/2036  | 350000 | &nbsp;&nbsp;&nbsp; 398246 |
| EHOVE Joint Vocational School District, OH, General Obligation School Improvement, 5.5%, 12/01/2037  | 375000 | &nbsp;&nbsp;&nbsp; 423818 |
| Erie & Sandusky Counties, OH, Margaretta Local School District (Ohio Certificates of Participation School Facilities Project), <br> BAM, 5.5%, 10/01/2036 <br>| 500000 | &nbsp;&nbsp;&nbsp; 561129 |
| Erie & Sandusky Counties, OH, Margaretta Local School District (Ohio Certificates of Participation School Facilities Project), <br> BAM, 5.5%, 10/01/2037 <br>| 355000 | &nbsp;&nbsp;&nbsp; 397209 |
| Gahanna-Jefferson and Franklin Counties, OH, City School District Certificates of Participation, 5.25%, 12/01/2042  | 250000 | &nbsp;&nbsp;&nbsp; 263563 |
| Gahanna-Jefferson and Franklin Counties, OH, City School District Certificates of Participation, 5.25%, 12/01/2043  | 250000 | &nbsp;&nbsp;&nbsp; 261461 |
| Hamilton County, OH, Healthcare Rev. (Life Enriching Communities Project), "A", 5.25%, 1/01/2038  | 750000 | &nbsp;&nbsp;&nbsp; 793877 |
| Ohio Air Quality Development Authority Refunding Rev. (American Electric Power Co. Project), "C", 3.65%, 12/01/2027  | 810000 | &nbsp;&nbsp;&nbsp; 811933 |
| Ohio Air Quality Development Authority Rev. (Dayton Power and Light Co. Project), "A", 4.25%, <br> 11/01/2040 (Put Date 6/01/2027)<br>| 500000 | &nbsp;&nbsp;&nbsp; 507673 |
| Ohio Air Quality Development Authority, Refunding Rev. (Duke Energy Corp. Project), "A", 4.25%, <br> 11/01/2039 (Put Date 6/01/2027)<br>| 145000 | &nbsp;&nbsp;&nbsp; 147266 |
| Ohio Air Quality Development Authority, Refunding Rev. (Duke Energy Corp. Project), "B", 4%, 9/01/2030 (Put Date 6/01/2027) | 170000 | &nbsp;&nbsp;&nbsp; 172191 |
| Ohio Higher Educational Facility Commission Rev. (Cleveland Institute of Music 2022 Project), 5%, 12/01/2032  | 600000 | &nbsp;&nbsp;&nbsp; 634785 |
| Ohio Housing Finance Agency, Multi-Family Housing Rev. (Haven's Edge Apartments Project), "A", 5.7%, 8/01/2043  | 250000 | &nbsp;&nbsp;&nbsp; 259551 |
| Ohio Housing Finance Agency, Residential Mortgage Rev. (Mortgage-Backed Securities Program), "C", FNMA, 5.75%, <br> 3/01/2054 <br>| 495000 | &nbsp;&nbsp;&nbsp; 523027 |
| Ohio State Healthcare Facility Rev. (Otterbein Homes Obligated Group), 4%, 7/01/2036  | 200000 | &nbsp;&nbsp;&nbsp; 203481 |
| Shelby & Darke Counties, OH, Fort Laramie Local School District, Certificates of Participation, 5.25%, 12/01/2045  | 385000 | &nbsp;&nbsp;&nbsp; 395854 |
| Warren County, OH, Healthcare Facilities Improvement & Refunding Rev. (Otterbein Homes Obligated Group), 5%, 7/01/2042  | 650000 | &nbsp;&nbsp;&nbsp; 675912 |
| Warren County, OH, Hospital Facilities Refunding Rev. (Community First Solutions Obligated Group), "A", 5%, 5/15/2044  | 240000 | &nbsp;&nbsp;&nbsp; 241757 |
| West Central Ohio Port Authority Rev. (Global Impact Stem Academy Project), "A", 5%, 12/01/2040  | 725000 | &nbsp;&nbsp;&nbsp; 751855 |
|  |  | &nbsp;&nbsp;&nbsp; $12080004 |
| Oklahoma – 0.7% | Oklahoma – 0.7% | Oklahoma – 0.7% |
| Norman, OK, Regional Hospital Authority Refunding Rev., 4%, 9/01/2037  | $355000 | &nbsp;&nbsp;&nbsp; $242943 |
| Oklahoma Housing Finance Agency, Single Family Mortgage Rev. (Homeownership Loan Project), "D", GNMA, 6.5%, <br> 9/01/2054 <br>| 465000 | &nbsp;&nbsp;&nbsp; 519859 |
| Oklahoma Turnpike Authority, Turnpike System Refunding Second Senior Rev., "B", 5%, 1/01/2037  | 325000 | &nbsp;&nbsp;&nbsp; 379900 |
| Tulsa County, OK, Home Finance Authority, Single Family Mortgage Rev., "A", GNMA, 5.75%, 7/01/2056  | 875000 | &nbsp;&nbsp;&nbsp; 964454 |
| Tulsa, OK, Municipal Airport Trust Rev. (American Airlines, Inc. Project), 6.25%, 12/01/2035  | 500000 | &nbsp;&nbsp;&nbsp; 572483 |
|  |  | &nbsp;&nbsp;&nbsp; $2679639 |
| Oregon – 0.4% | Oregon – 0.4% | Oregon – 0.4% |
| Lincoln County, OR, Coast Community College District General Obligation, 5%, 6/15/2041  | $380000 | &nbsp;&nbsp;&nbsp; $419588 |
| Oregon Facilities Authority, Lease Rent Rev. (Legacy Health System - Centurion Foundation), "A", 4.9%, 9/15/2035  | 430000 | &nbsp;&nbsp;&nbsp; 454273 |
| Oregon Health & Sciences University Rev., "B", 3.375%, 7/01/2039  | 115000 | &nbsp;&nbsp;&nbsp; 110580 |
| Portland, OR, International Airport Rev., 5.25%, 7/01/2041  | 500000 | &nbsp;&nbsp;&nbsp; 545288 |
|  |  | &nbsp;&nbsp;&nbsp; $1529729 |
| Pennsylvania – 7.2% | Pennsylvania – 7.2% | Pennsylvania – 7.2% |
| Adams County, PA, General Authority Rev. (Brethren Home Community Project), "A", 5%, 6/01/2034  | $990000 | &nbsp;&nbsp;&nbsp; $1049496 |
| Allegheny County, PA, Airport Authority Rev. (Pittsburgh International Airport), "A", AGM, 5%, 1/01/2036  | 1285000 | &nbsp;&nbsp;&nbsp; 1431573 |
| Allegheny County, PA, Hospital Development Authority Rev. (Allegheny Health Network Obligated Group), "A", 5%, 4/01/2036  | 245000 | &nbsp;&nbsp;&nbsp; 252710 |
| Allegheny County, PA, Steel Valley School District, General Obligation Limited Tax, BAM, 5%, 11/01/2039  | 650000 | &nbsp;&nbsp;&nbsp; 708486 |
| Allegheny County, PA, Steel Valley School District, General Obligation Limited Tax, BAM, 5%, 11/01/2040  | 845000 | &nbsp;&nbsp;&nbsp; 908683 |
| Allentown, PA, Commercial & Industrial Development Authority, Education Facility Lease Rev. (Lincoln Leadership Academy <br> Charter School Project), 5.5%, 6/15/2038 (n)<br>| 500000 | &nbsp;&nbsp;&nbsp; 523645 |
| Allentown, PA, Neighborhood Improvement Zone, Development Authority Tax Refunding Rev., 5%, 5/01/2026  | 10000 | &nbsp;&nbsp;&nbsp; 10036 |
| Berks County, PA, Municipal Authority Rev. (Tower Health Project), "A-2", 6%, 6/30/2034  | 104000 | &nbsp;&nbsp;&nbsp; 111756 |
| Berks County, PA, Municipal Authority Rev. (Tower Health Project), "A-3", 5%, 6/30/2039  | 800000 | &nbsp;&nbsp;&nbsp; 720060 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Municipal Bonds – continued | Municipal Bonds – continued | Municipal Bonds – continued |
| Pennsylvania – continued | Pennsylvania – continued | Pennsylvania – continued |
| Berks County, PA, Municipal Authority Rev. (Tower Health Project), Convertible Capital Appreciation, "B-1", 0% to 11/15/2029, <br> 6% to 6/30/2044 <br>| $23000 | &nbsp;&nbsp;&nbsp; $15866 |
| Berks County, PA, Municipal Authority Rev., Taxable (Tower Health Project), "A-1", 8%, 6/30/2034  | 126000 | &nbsp;&nbsp;&nbsp; 126334 |
| Chester County, PA, Health & Education Facilities Authority Rev. (Simpson Senior Services Project), 4%, 12/01/2030  | 455000 | &nbsp;&nbsp;&nbsp; 407602 |
| Chester County, PA, Health & Education Facilities Authority Rev. (Tel Hai Retirement Community Project) , 5.125%, 6/01/2046  | 1305000 | &nbsp;&nbsp;&nbsp; 1317428 |
| Chester County, PA, Industrial Development Authority, Educational Facilities Rev. (Avon Grove Charter School), "A", 4.75%, <br> 12/15/2037 <br>| 80000 | &nbsp;&nbsp;&nbsp; 80697 |
| Cumberland County, PA, Municipal Authority Rev. (Messiah Village Project), "A", 5.25%, 6/01/2044 (w) | 1000000 | &nbsp;&nbsp;&nbsp; 1016212 |
| Delaware Valley, PA, Regional Finance Authority, "C", FLR, 3.466% ((67% of SOFR - 3mo. + 0.26161%) + 0.75%), 6/01/2037  | 795000 | &nbsp;&nbsp;&nbsp; 750680 |
| Doylestown, PA, Hospital Authority Rev., 5%, 7/01/2031  | 100000 | &nbsp;&nbsp;&nbsp; 106186 |
| Doylestown, PA, Hospital Authority Rev., "A", 4%, 7/01/2045  | 10000 | &nbsp;&nbsp;&nbsp; 9354 |
| Erie County, PA, Sewer Authority Rev., BAM, 5%, 12/01/2042  | 835000 | &nbsp;&nbsp;&nbsp; 884095 |
| Erie, PA, Higher Education Building Authority Rev. (AICUP Financing Program-Gannon University Project), "XX1", 4%, <br> 5/01/2033 <br>| 400000 | &nbsp;&nbsp;&nbsp; 397807 |
| Indiana County, PA, Industrial Development Authority Rev. (Student Cooperative Association, Inc./Indiana University of <br> Pennsylvania Project), BAM, 5%, 5/01/2031 <br>| 440000 | &nbsp;&nbsp;&nbsp; 476499 |
| Indiana County, PA, Industrial Development Authority Rev. (Student Cooperative Association, Inc./Indiana University of <br> Pennsylvania Project), BAM, 5%, 5/01/2032 <br>| 450000 | &nbsp;&nbsp;&nbsp; 485240 |
| Lancaster, PA, Municipal Authority, Healthcare Facilities Rev. (Luthercare Project), "A", 4%, 12/01/2035  | 1585000 | &nbsp;&nbsp;&nbsp; 1601540 |
| Lehigh County, PA, General Purpose Authority, College Rev. (Muhlenberg College Project), 5%, 2/01/2040  | 1000000 | &nbsp;&nbsp;&nbsp; 1033330 |
| Luzerne County, PA, Hanover Area School District, General Obligation, BAM, 5%, 6/01/2042 (w) | 250000 | &nbsp;&nbsp;&nbsp; 266268 |
| Luzerne County, PA, Hanover Area School District, General Obligation, BAM, 5%, 6/01/2043 (w) | 150000 | &nbsp;&nbsp;&nbsp; 158919 |
| Pennsylvania Commonwealth Financing Authority, Tobacco Master Settlement Payment Rev., AGM, 4%, 6/01/2039  | 630000 | &nbsp;&nbsp;&nbsp; 620417 |
| Pennsylvania Economic Development Financing Authority Rev. (Presbyterian Senior Living Project), "B-2", 5%, 7/01/2038  | 1000000 | &nbsp;&nbsp;&nbsp; 1049721 |
| Pennsylvania Economic Development Financing Authority Rev. (Rapid Bridge Replacement Project), 5%, 12/31/2038  | 865000 | &nbsp;&nbsp;&nbsp; 867147 |
| Pennsylvania Economic Development Financing Authority Rev. (University of Pittsburg Medical Center), "A", 5%, <br> 3/15/2060 (Put Date 3/15/2035)<br>| 1035000 | &nbsp;&nbsp;&nbsp; 1141340 |
| Pennsylvania Economic Development Financing Authority, Junior Insured Parking Rev. (Capitol Region Parking System), "C", <br> AGM, 5%, 1/01/2033 <br>| 1000000 | &nbsp;&nbsp;&nbsp; 1105579 |
| Pennsylvania Economic Development Financing Authority, Private Activity Rev. (PennDOT Major Bridges Package One Project), <br> 5%, 12/31/2033 <br>| 1000000 | &nbsp;&nbsp;&nbsp; 1093560 |
| Pennsylvania Economic Development Financing Authority, Private Activity Rev. (PennDOT Major Bridges Package One Project), <br> AGM, 5.5%, 6/30/2042 <br>| 775000 | &nbsp;&nbsp;&nbsp; 828223 |
| Pennsylvania Economic Development Financing Authority, Private Activity Rev. (Pennsylvania Rapid Bridge Replacement <br> Project), 5%, 12/31/2028 <br>| 150000 | &nbsp;&nbsp;&nbsp; 150939 |
| Pennsylvania Economic Development Financing Authority, Private Activity Rev. (Pennsylvania Rapid Bridge Replacement <br> Project), 4%, 3/15/2034 <br>| 85000 | &nbsp;&nbsp;&nbsp; 85379 |
| Pennsylvania Higher Educational Assistance Agency, Education Loan Rev., "1A", 5%, 6/01/2033  | 631000 | &nbsp;&nbsp;&nbsp; 679395 |
| Pennsylvania Higher Educational Assistance Agency, Education Loan Rev., "1A", 4.75%, 6/01/2046  | 400000 | &nbsp;&nbsp;&nbsp; 394826 |
| Pennsylvania Higher Educational Assistance Agency, Education Loan Rev., "A", 5%, 6/01/2027  | 200000 | &nbsp;&nbsp;&nbsp; 203410 |
| Pennsylvania Higher Educational Assistance Agency, Education Loan Rev., "A", 2.625%, 6/01/2042  | 5000 | &nbsp;&nbsp;&nbsp; 4533 |
| Pennsylvania Housing Finance Agency, Single Family Mortgage Rev., "141A", 5.75%, 10/01/2053  | 490000 | &nbsp;&nbsp;&nbsp; 520677 |
| Pennsylvania School District Authority Rev. (William Penn School District Project), "B", BAM, 5%, 3/15/2043  | 225000 | &nbsp;&nbsp;&nbsp; 235656 |
| Philadelphia, PA, Airport Refunding Rev., "B", 5%, 7/01/2037  | 775000 | &nbsp;&nbsp;&nbsp; 788571 |
| Philadelphia, PA, Authority for Industrial Development, Charter School Rev. (Green Woods Charter School Project), "A", 5%, <br> 6/15/2032 <br>| 100000 | &nbsp;&nbsp;&nbsp; 103615 |
| Philadelphia, PA, Housing Authority, General Rev. (PHA Headquarters Project), 5%, 5/01/2039  | 355000 | &nbsp;&nbsp;&nbsp; 365685 |
| Philadelphia, PA, School District, "A", 5.25%, 9/01/2038  | 410000 | &nbsp;&nbsp;&nbsp; 460790 |
| Westmoreland County, PA, Industrial Development Authority Rev. (Redstone Presbyterian Seniorcare Obligated Group), 4%, <br> 5/15/2026 <br>| 500000 | &nbsp;&nbsp;&nbsp; 498376 |
|  |  | &nbsp;&nbsp;&nbsp; $26048341 |
| Puerto Rico – 0.5% | Puerto Rico – 0.5% | Puerto Rico – 0.5% |
| Commonwealth of Puerto Rico, General Obligation Restructured, "A", 5.625%, 7/01/2029  | $292016 | &nbsp;&nbsp;&nbsp; $309412 |
| Commonwealth of Puerto Rico, General Obligation Restructured, "A", 5.75%, 7/01/2031  | 40810 | &nbsp;&nbsp;&nbsp; 44834 |
| Commonwealth of Puerto Rico, General Obligation Restructured, "A", 4%, 7/01/2033  | 38698 | &nbsp;&nbsp;&nbsp; 38687 |
| Commonwealth of Puerto Rico, General Obligation Restructured, "A", 4%, 7/01/2037  | 29854 | &nbsp;&nbsp;&nbsp; 28940 |
| Commonwealth of Puerto Rico, General Obligation Restructured, "A", 4%, 7/01/2041  | 40591 | &nbsp;&nbsp;&nbsp; 37530 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Municipal Bonds – continued | Municipal Bonds – continued | Municipal Bonds – continued |
| Puerto Rico – continued | Puerto Rico – continued | Puerto Rico – continued |
| Commonwealth of Puerto Rico, General Obligation Restructured, "A", 4%, 7/01/2046  | $42214 | &nbsp;&nbsp;&nbsp; $36830 |
| Commonwealth of Puerto Rico, General Obligation Restructured, Capital Appreciation, "A", 0%, 7/01/2033  | 49801 | &nbsp;&nbsp;&nbsp; 36038 |
| Puerto Rico Electric Power Authority Refunding Rev., "DDD", 5%, 7/01/2021 (a)(d) | 100000 | &nbsp;&nbsp;&nbsp; 66750 |
| Puerto Rico Electric Power Authority Refunding Rev., "DDD", 5%, 7/01/2022 (a)(d) | 165000 | &nbsp;&nbsp;&nbsp; 110137 |
| Puerto Rico Electric Power Authority Rev., "A", 5%, 7/01/2029 (a)(d) | 260000 | &nbsp;&nbsp;&nbsp; 173550 |
| Puerto Rico Electric Power Authority Rev., "TT", 5%, 7/01/2037 (a)(d) | 130000 | &nbsp;&nbsp;&nbsp; 86775 |
| Puerto Rico Electric Power Authority Rev., "VV", NPFG, 5.25%, 7/01/2034  | 10000 | &nbsp;&nbsp;&nbsp; 10141 |
| Puerto Rico Electric Power Authority Rev., "ZZ", 5.25%, 7/01/2023 (a)(d) | 70000 | &nbsp;&nbsp;&nbsp; 46725 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., "2019A-2", 4.536%, 7/01/2053  | 1000 | &nbsp;&nbsp;&nbsp; 906 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., "A-1", 4.55%, 7/01/2040  | 23000 | &nbsp;&nbsp;&nbsp; 23009 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., "A-1", 4.75%, 7/01/2053  | 20000 | &nbsp;&nbsp;&nbsp; 18851 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., "A-1", 5%, 7/01/2058  | 164000 | &nbsp;&nbsp;&nbsp; 157892 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., "A-2", 4.784%, 7/01/2058  | 39000 | &nbsp;&nbsp;&nbsp; 36412 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, "A-1", 0%, 7/01/2031  | 597000 | &nbsp;&nbsp;&nbsp; 490476 |
|  |  | &nbsp;&nbsp;&nbsp; $1753895 |
| Rhode Island – 1.6% | Rhode Island – 1.6% | Rhode Island – 1.6% |
| Pawtucket, RI, General Obligation, "B", AGM, 5%, 11/01/2040  | $450000 | &nbsp;&nbsp;&nbsp; $496778 |
| Pawtucket, RI, General Obligation, "B", AGM, 5%, 11/01/2041  | 550000 | &nbsp;&nbsp;&nbsp; 601914 |
| Rhode Island Health & Educational Building Corp., Student Housing Rev. (PRG - RI Properties LLC), "A", AGM, 5%, 7/01/2045  | 1000000 | &nbsp;&nbsp;&nbsp; 1023271 |
| Rhode Island Housing & Mortgage Finance Corp., Homeownership Opportunity, "78-A", 5.5%, 10/01/2052  | 585000 | &nbsp;&nbsp;&nbsp; 618121 |
| Rhode Island Student Loan Authority, Education Loan Rev., "A", 5%, 12/01/2034  | 1000000 | &nbsp;&nbsp;&nbsp; 1078247 |
| Rhode Island Student Loan Authority, Education Loan Rev., "A", 4.125%, 12/01/2042  | 680000 | &nbsp;&nbsp;&nbsp; 668044 |
| Rhode Island Student Loan Authority, Education Loan Rev., "B", 4.125%, 12/01/2043  | 140000 | &nbsp;&nbsp;&nbsp; 135676 |
| Rhode Island Student Loan Authority, Education Loan Rev., "A", 5%, 12/01/2033  | 1015000 | &nbsp;&nbsp;&nbsp; 1093619 |
|  |  | &nbsp;&nbsp;&nbsp; $5715670 |
| South Carolina – 2.6% | South Carolina – 2.6% | South Carolina – 2.6% |
| Charleston County, SC, Airport District Rev., "A", 5.25%, 7/01/2044  | $750000 | &nbsp;&nbsp;&nbsp; $793860 |
| Charleston, SC, Housing Authority Rev. (1800 Ashley West), 4.5%, 9/01/2035  | 555000 | &nbsp;&nbsp;&nbsp; 566431 |
| Dorchester County, SC, Summers Corner Improvement District Assessment Rev., 4.5%, 10/01/2033  | 415000 | &nbsp;&nbsp;&nbsp; 418120 |
| Dorchester County, SC, Summers Corner Improvement District Assessment Rev., 5.25%, 10/01/2043  | 280000 | &nbsp;&nbsp;&nbsp; 278374 |
| Patriots Energy Group Financing Agency, SC, Gas Supply Rev., "B-1", 5.25%, 2/01/2054 (Put Date 3/01/2031) | 650000 | &nbsp;&nbsp;&nbsp; 702684 |
| South Carolina Jobs & Economic Development Authority Rev. (Charleston Southern University), "C", 5%, 9/01/2032  | 665000 | &nbsp;&nbsp;&nbsp; 704201 |
| South Carolina Jobs & Economic Development Authority, Economic Development Rev. (Foothill Affordable Housing Foundation <br> - Paddock Club and Fairway Projects), FHLMC, 4%, 3/01/2062 (Put Date 3/01/2035)<br>| 100000 | &nbsp;&nbsp;&nbsp; 102147 |
| South Carolina Jobs & Economic Development Authority, Hospital Facilities Rev. (Bon Secours Mercy Health, Inc.), "B-2", 5%, <br> 11/01/2049 (Put Date 11/01/2032)<br>| 410000 | &nbsp;&nbsp;&nbsp; 455650 |
| South Carolina Jobs & Economic Development Authority, Hospital Rev. (Conway Hospital, Inc.), 5.25%, 7/01/2047  | 1000000 | &nbsp;&nbsp;&nbsp; 973846 |
| South Carolina Jobs & Economic Development Authority, Residential Care Facilities Refunding Rev. (South Carolina Episcopal <br> Home at Still Hopes), "A", 5%, 4/01/2038 <br>| 280000 | &nbsp;&nbsp;&nbsp; 281401 |
| South Carolina Jobs & Economic Development Authority, Residential Development Rev. (Latitude at Wescott), 4%, 11/01/2035  | 1000000 | &nbsp;&nbsp;&nbsp; 992620 |
| South Carolina Jobs-Economic Development Authority Rev. (Wesley Commons Project), "A", 5%, 10/01/2040  | 1000000 | &nbsp;&nbsp;&nbsp; 1003663 |
| South Carolina Jobs-Economic Development Authority, Economic Development Rev. (Bishop Gadsden Episcopal Retirement <br> Community), 5.125%, 4/01/2046 <br>| 1000000 | &nbsp;&nbsp;&nbsp; 993873 |
| South Carolina Jobs-Economic Development Authority, Health & Facilities Refunding Rev. (Rolling Green Village Project), "A", <br> 5%, 12/01/2035 <br>| 1000000 | &nbsp;&nbsp;&nbsp; 1044417 |
|  |  | &nbsp;&nbsp;&nbsp; $9311287 |
| Tennessee – 3.0% | Tennessee – 3.0% | Tennessee – 3.0% |
| Chattanooga, TN, Health, Educational & Housing Facility Board Refunding Rev. (CDFI Phase I LLC - University of Tennessee at <br> Chattanooga Project), 5%, 10/01/2035 <br>| $500000 | &nbsp;&nbsp;&nbsp; $500183 |
| Jackson, TN, Hospital Rev. (Jackson-Madison County General Hospital), 4%, 4/01/2041  | 415000 | &nbsp;&nbsp;&nbsp; 381555 |
| Knox County, TN, Health Educational & Housing Facility, Board Rev. (University Health Systems, Inc.), 5%, 4/01/2036  | 750000 | &nbsp;&nbsp;&nbsp; 756604 |
| Knox County, TN, Health Educational & Housing Facility, Board Rev. (University Health Systems, Inc.), 5%, 9/01/2036  | 1000000 | &nbsp;&nbsp;&nbsp; 1004857 |
| Knox County, TN, Health Educational & Housing Facility, Board Student Housing Rev. (Provident Group - UTK Properties LLC - <br> University of Tennessee Project), "A1", BAM, 5%, 7/01/2040 <br>| 1000000 | &nbsp;&nbsp;&nbsp; 1068284 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Municipal Bonds – continued | Municipal Bonds – continued | Municipal Bonds – continued |
| Tennessee – continued | Tennessee – continued | Tennessee – continued |
| Knox County, TN, Health Educational & Housing Facility, Board Student Housing Rev. (Provident Group - UTK Properties LLC - <br> University of Tennessee Project), "B-1", BAM, 5%, 7/01/2044 <br>| $300000 | &nbsp;&nbsp;&nbsp; $309891 |
| Memphis-Shelby County, TN, Economic Development Growth Engine Industrial Development Board Senior Tax Increment Rev. <br> (Graceland Project), "A", 4.75%, 7/01/2027 <br>| 100000 | &nbsp;&nbsp;&nbsp; 94561 |
| Memphis-Shelby County, TN, Economic Development Growth Engine Industrial Development Board Senior Tax Increment Rev. <br> (Graceland Project), "A", 5.5%, 7/01/2037 <br>| 100000 | &nbsp;&nbsp;&nbsp; 75268 |
| Metropolitan Government of Nashville & Davidson County, TN, Health & Educational Facilities Board Rev. (Lipscomb University <br> Project), "A", 5%, 10/01/2041 <br>| 1000000 | &nbsp;&nbsp;&nbsp; 999966 |
| Metropolitan Nashville, TN, Airport Authority Improvement Rev., "B", 5.25%, 7/01/2033  | 1150000 | &nbsp;&nbsp;&nbsp; 1290924 |
| Nashville, TN, Metropolitan Development & Housing Agency Rev. (Fifth & Broadway Development), 5.125%, 6/01/2036 (n) | 500000 | &nbsp;&nbsp;&nbsp; 507910 |
| Rutherford County, Tennessee, Health & Educational Facilties Board, Student Housing Rev. (Madrone - MTSU Student Housing <br> I, LLC Project), "A-1", BAM, 5%, 7/01/2040 <br>| 300000 | &nbsp;&nbsp;&nbsp; 319382 |
| Shelby County, TN, Health, Educational & Housing Facility Board, Residential Care Facility Mortgage Rev. (Village at <br> Germantown), 5.25%, 12/01/2049 <br>| 550000 | &nbsp;&nbsp;&nbsp; 483275 |
| Tennergy Corp., TN, Gas Supply Rev., "A", 5.5%, 10/01/2053 (Put Date 12/01/2030) | 685000 | &nbsp;&nbsp;&nbsp; 734745 |
| Tennessee Energy Acquisition Corp., Gas Project Refunding Rev., "A", 5%, 12/01/2035  | 750000 | &nbsp;&nbsp;&nbsp; 806467 |
| Tennessee Energy Acquisition Corp., Gas Project Rev., "A-1", 5%, 5/01/2053 (Put Date 5/01/2028) | 750000 | &nbsp;&nbsp;&nbsp; 771073 |
| Tennessee Energy Acquisition Corp., Gas Project Rev., "C", 5%, 2/01/2027  | 80000 | &nbsp;&nbsp;&nbsp; 80797 |
| Tennessee Housing Development Agency, Residential Finance Program Rev., "4", 4%, 7/01/2043  | 645000 | &nbsp;&nbsp;&nbsp; 628393 |
|  |  | &nbsp;&nbsp;&nbsp; $10814135 |
| Texas – 9.6% | Texas – 9.6% | Texas – 9.6% |
| Arlington, TX, Higher Education Finance Corp. Refunding Rev. (Basis Texas Charter Schools, Inc.), 5.125%, 6/15/2040  | $870000 | &nbsp;&nbsp;&nbsp; $890825 |
| Austin, TX, Convention Center (Convention Enterprises, Inc.), "A", 5%, 1/01/2029  | 145000 | &nbsp;&nbsp;&nbsp; 146191 |
| Austin, TX, Convention Center (Convention Enterprises, Inc.), "A", 5%, 1/01/2031  | 220000 | &nbsp;&nbsp;&nbsp; 221771 |
| Austin, TX, Convention Center (Convention Enterprises, Inc.), "B", 5%, 1/01/2026  | 95000 | &nbsp;&nbsp;&nbsp; 95000 |
| Austin, TX, Convention Center (Convention Enterprises, Inc.), "B", 5%, 1/01/2028  | 75000 | &nbsp;&nbsp;&nbsp; 75442 |
| Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., "1A", 5%, 4/01/2033  | 500000 | &nbsp;&nbsp;&nbsp; 541008 |
| Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., "1A", 5%, 4/01/2034  | 435000 | &nbsp;&nbsp;&nbsp; 470034 |
| Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., "1A", 5.125%, 4/01/2043  | 265000 | &nbsp;&nbsp;&nbsp; 278179 |
| Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., "1A", 4%, 4/01/2045  | 180000 | &nbsp;&nbsp;&nbsp; 163760 |
| Celina, TX, Special Assessment Refunding & Improvement Rev. (The Lakes at Mustang Ranch Public Improvement District <br> Major Improvement Area and Phases #2-7 Project), AGM, 5%, 9/01/2039 <br>| 750000 | &nbsp;&nbsp;&nbsp; 805613 |
| Dallas, TX, Housing Finance Corp., Multi-Family Housing Rev. (Highpoint at Wynnewood), 3.5%, <br> 2/01/2044 (Put Date 2/01/2026)<br>| 145000 | &nbsp;&nbsp;&nbsp; 145015 |
| Dallas, TX, Love Field Airport Modernization Corp., General Airport Rev., 5%, 11/01/2035  | 1000000 | &nbsp;&nbsp;&nbsp; 1009725 |
| Dallas, TX, Senior Lien Special Tax Rev. (Fair Park Venue Project), 6.25%, 8/15/2053 (Put Date 8/15/2028) | 100000 | &nbsp;&nbsp;&nbsp; 100055 |
| Dowdell, TX, Public Utility District, "A", BAM, 2%, 9/01/2026  | 200000 | &nbsp;&nbsp;&nbsp; 197886 |
| El Paso, TX, Residential Development Rev. (EL Paso Royal Apartments Project), 4.25%, 10/01/2039  | 100000 | &nbsp;&nbsp;&nbsp; 101145 |
| EP Cimarron Ventanas, TX, Residential Development Rev. (Home Essential Function Housing Program), 4.25%, 12/01/2034  | 765000 | &nbsp;&nbsp;&nbsp; 775098 |
| EP Cimarron Ventanas, TX, Residential Development Rev. (Lifestyles at Los Paseos), 4.125%, 12/01/2039  | 155000 | &nbsp;&nbsp;&nbsp; 156215 |
| Fort Bend County, TX, Lamar Consolidated Independent School District, Unlimited Tax Schoolhouse, 5%, 2/15/2037  | 95000 | &nbsp;&nbsp;&nbsp; 105260 |
| Fort Worth, TX, Chaparral PFC Residential Development Rev. (Chaparral Ranch Project) , 4%, 10/01/2035  | 830000 | &nbsp;&nbsp;&nbsp; 829772 |
| Fort Worth, TX, Special Tax Rev. (Convention Center Venue Project), 5.5%, 3/01/2043  | 755000 | &nbsp;&nbsp;&nbsp; 818321 |
| FW Ramble Public Facility Corp., Texas Residential Development Rev. (Ramble & Rose Project), 4%, 10/01/2035  | 755000 | &nbsp;&nbsp;&nbsp; 746446 |
| Galveston, TX, Wharves & Terminal, First Lien Rev., 5.25%, 8/01/2032  | 750000 | &nbsp;&nbsp;&nbsp; 824825 |
| Galveston, TX, Wharves & Terminal, First Lien Rev., 5.25%, 8/01/2037  | 340000 | &nbsp;&nbsp;&nbsp; 366483 |
| Galveston, TX, Wharves & Terminal, First Lien Rev., 5.25%, 8/01/2039  | 260000 | &nbsp;&nbsp;&nbsp; 277451 |
| Godley, TX, Combination Tax & Rev., Certificates of Obligation, BAM, 5.25%, 8/15/2042  | 865000 | &nbsp;&nbsp;&nbsp; 935719 |
| Houston, TX, Airport System Refunding Rev., "A", AGM, 5%, 7/01/2034  | 1000000 | &nbsp;&nbsp;&nbsp; 1107290 |
| Houston, TX, Airport System Refunding Rev., "A", AGM, 5%, 7/01/2038  | 665000 | &nbsp;&nbsp;&nbsp; 717362 |
| Houston, TX, Airport System Special Facilities Rev. (United Airlines, Inc. Terminal Improvement Projects), "B", 5.25%, 7/15/2034  | 500000 | &nbsp;&nbsp;&nbsp; 537726 |
| Houston, TX, Airport System Special Facilities Rev. (United Airlines, Inc. Terminal Improvement Projects), "B", 5.5%, 7/15/2038  | 545000 | &nbsp;&nbsp;&nbsp; 588745 |
| Las Varas, TX, Public Facility Corp. Essential Function Housing Development (Amara Apartments), 4.25%, 10/01/2035  | 680000 | &nbsp;&nbsp;&nbsp; 682267 |
| Lavon, TX, Special Assessment Rev. (Trails of Lavon Public Improvement District Projects), 4.25%, 9/15/2032  | 741000 | &nbsp;&nbsp;&nbsp; 750588 |
| Matagorda County, TX, Navigation District No. 1, Pollution Control Rev. (Central Power & Light Co.), 4.25%, 5/01/2030  | 500000 | &nbsp;&nbsp;&nbsp; 520627 |
| McLennan County, TX, Waco Independent School District, Unlimited Tax School Building Bonds, Texas PSF, 3%, 8/15/2035  | 100000 | &nbsp;&nbsp;&nbsp; 98724 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Municipal Bonds – continued | Municipal Bonds – continued | Municipal Bonds – continued |
| Texas – continued | Texas – continued | Texas – continued |
| McLennan County, TX, Waco Independent School District, Unlimited Tax School Building Bonds, Texas PSF, 3%, 8/15/2036  | $500000 | &nbsp;&nbsp;&nbsp; $488604 |
| Memorial, TX, City Redevelopment Authority, Tax Increment Contract Rev., AGM, 5%, 9/01/2040  | 1345000 | &nbsp;&nbsp;&nbsp; 1444023 |
| Memorial, TX, City Redevelopment Authority, Tax Increment Contract Rev., AGM, 5%, 9/01/2041  | 645000 | &nbsp;&nbsp;&nbsp; 684288 |
| Mission, TX, Economic Development Corp., Solid Waste Disposal Rev. (Graphic Packaging International LLC Project), 5%, <br> 12/01/2064 (Put Date 6/01/2030)<br>| 245000 | &nbsp;&nbsp;&nbsp; 253920 |
| New Hope, TX, Cultural Education Facilities Finance Corp., Retirement Facility Rev. (Bella Vida Forefront Living Project), "B-3", <br> 4.25%, 10/01/2030 <br>| 205000 | &nbsp;&nbsp;&nbsp; 205598 |
| New Hope, TX, Cultural Education Facilities Finance Corp., Retirement Facility Rev. (Brazos Presbyterian Homes, Inc. Project), <br> 5.25%, 1/01/2040 <br>| 870000 | &nbsp;&nbsp;&nbsp; 915014 |
| New Hope, TX, Cultural Education Facilities Finance Corp., Retirement Facility Rev. (Morningside Ministries Project), "A", 5%, <br> 1/01/2035 <br>| 350000 | &nbsp;&nbsp;&nbsp; 347576 |
| New Hope, TX, Cultural Education Facilities Finance Corp., Retirement Facility Rev. (Westminster Project), 5%, 11/01/2034  | 585000 | &nbsp;&nbsp;&nbsp; 639383 |
| New Hope, TX, Cultural Education Facilities Finance Corp., Retirement Facility Rev. (Westminster Project), 5%, 11/01/2035  | 455000 | &nbsp;&nbsp;&nbsp; 496593 |
| North Texas Higher Education Authority, Inc., Tax-Exempt Education Loan Rev., "A", 5%, 6/01/2033  | 400000 | &nbsp;&nbsp;&nbsp; 428543 |
| North Texas Municipal Water District, Water System Refunding Rev., 5%, 9/01/2043  | 1000000 | &nbsp;&nbsp;&nbsp; 1071421 |
| Panola County, TX, Carthage Independent School District, Unlimited Tax School Building, Texas PSF, 5%, 8/15/2038  | 250000 | &nbsp;&nbsp;&nbsp; 256739 |
| Port Houston, TX, First Lien Rev., 4%, 10/01/2038  | 1000000 | &nbsp;&nbsp;&nbsp; 1023613 |
| Princeton, TX, Special Assessment Rev. (Eastridge Public Improvement District Improvement Area No. 3 Project), 5%, 9/01/2044  | 500000 | &nbsp;&nbsp;&nbsp; 494768 |
| Reeves & Ward Counties, TX, Pecos-Barstow-Toyah Independent School District, Unlimited Tax School Building Bonds, Texas <br> PSF, 5%, 2/15/2038 <br>| 1550000 | &nbsp;&nbsp;&nbsp; 1551745 |
| Texas Department of Housing & Community Affairs, Residential Mortgage Rev., GNMA, 5.75%, 1/01/2056  | 1240000 | &nbsp;&nbsp;&nbsp; 1367839 |
| Texas Grand Parkway Transportation Corp., Grand Parkway System, Subordinate Tier Toll Rev. (TELA Supported), "A", 5%, <br> 10/01/2043 <br>| 360000 | &nbsp;&nbsp;&nbsp; 368694 |
| Texas Metrocare Services Rev., 5%, 11/01/2044  | 1100000 | &nbsp;&nbsp;&nbsp; 1153307 |
| Texas Municipal Gas Acquisition & Supply Corp. IV, Gas Supply Rev., "B", 5.5%, 1/01/2054 (Put Date 1/01/2034) | 930000 | &nbsp;&nbsp;&nbsp; 1033769 |
| Texas Municipal Gas Acquisition & Supply Corp. VI, Gas Supply Rev., 5%, 1/01/2036  | 1500000 | &nbsp;&nbsp;&nbsp; 1605259 |
| Texas Municipal Power Agency, Transmission System Refunding Rev., BAM, 5.5%, 9/01/2045  | 435000 | &nbsp;&nbsp;&nbsp; 470884 |
| Texas Private Activity Surface Transportation Corp. Rev. (NTE Mobility Partners Segments 3 LLC), 5.375%, 6/30/2038  | 175000 | &nbsp;&nbsp;&nbsp; 185614 |
| Texas Private Activity Surface Transportation Corp. Rev. (NTE Mobility Partners Segments 3 LLC), 5.5%, 6/30/2040  | 635000 | &nbsp;&nbsp;&nbsp; 672025 |
| Texas Public Finance Authority Rev. (Texas Southern University), BAM, 5.25%, 5/01/2034  | 1000000 | &nbsp;&nbsp;&nbsp; 1139129 |
| Texas Public Finance Authority Rev. (Texas Southern University), "A", BAM, 5%, 5/01/2026  | 125000 | &nbsp;&nbsp;&nbsp; 125583 |
| Texas Public Finance Authority, Financing System Refunding Rev. (Midwestern State University), "A", 4%, 12/01/2033  | 75000 | &nbsp;&nbsp;&nbsp; 75414 |
| Travis County, TX, Housing Finance Corp., Multi-Family Housing Rev. (Airport Gateway Apartments), 4.125%, <br> 6/01/2045 (Put Date 6/01/2027)<br>| 335000 | &nbsp;&nbsp;&nbsp; 335669 |
|  |  | &nbsp;&nbsp;&nbsp; $34915582 |
| Utah – 0.7% | Utah – 0.7% | Utah – 0.7% |
| Salt Lake City, UT, Airport Rev. (International Airport), "A", 5.25%, 7/01/2037  | $1000000 | &nbsp;&nbsp;&nbsp; $1108552 |
| Utah Charter School Finance Authority, Charter School Refunding Rev. (Voyage Academy Project), 5%, 4/15/2040  | 425000 | &nbsp;&nbsp;&nbsp; 448604 |
| Utah Downtown Revitalization, Public Infrastructure District Sales Tax Rev. (SEG Redevelopment Project), "C", 5%, 7/15/2035  | 181000 | &nbsp;&nbsp;&nbsp; 182281 |
| Utah Housing Corp., Mortgage-Backed Securities, "I", GNMA, 5%, 9/21/2052  | 589899 | &nbsp;&nbsp;&nbsp; 603390 |
| Utah Housing Corp., Single Family Mortgage Rev., "A", GNMA, 6.5%, 1/01/2054  | 100000 | &nbsp;&nbsp;&nbsp; 108787 |
|  |  | &nbsp;&nbsp;&nbsp; $2451614 |
| Vermont – 0.8% | Vermont – 0.8% | Vermont – 0.8% |
| Vermont Student Assistance Corp., Education Loan Rev., "A", 5%, 6/15/2032  | $1000000 | &nbsp;&nbsp;&nbsp; $1080180 |
| Vermont Student Assistance Corp., Education Loan Rev., "A", 5%, 6/15/2032  | 1700000 | &nbsp;&nbsp;&nbsp; 1836306 |
|  |  | &nbsp;&nbsp;&nbsp; $2916486 |
| Virginia – 0.8% | Virginia – 0.8% | Virginia – 0.8% |
| Chesapeake, VA, Economic Development Authority, Pollution Control Rev. (Virginia Electric & Power Co. Project), "A", 3.65%, <br> 2/01/2032 (Put Date 10/01/2027)<br>| $305000 | &nbsp;&nbsp;&nbsp; $308742 |
| Louisa, VA, Industrial Development Authority, Pollution Control Refunding Rev. (Virginia Electric and Power Co. Project), "A", <br> 3.65%, 11/01/2035 (Put Date 10/01/2027)<br>| 85000 | &nbsp;&nbsp;&nbsp; 86043 |
| Virginia Beach, VA, Development Authority, Residential Care Facility Refunding Rev. (Westminster - Canterbury on Chesapeake <br> Bay), 5%, 9/01/2029 <br>| 95000 | &nbsp;&nbsp;&nbsp; 97764 |
| Virginia Beach, VA, Development Authority, Residential Care Facility Rev. (Westminster - Canterbury on Chesapeake Bay), <br> "B-3", 5.375%, 9/01/2029 <br>| 750000 | &nbsp;&nbsp;&nbsp; 758576 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Municipal Bonds – continued | Municipal Bonds – continued | Municipal Bonds – continued |
| Virginia – continued | Virginia – continued | Virginia – continued |
| Virginia Small Business Financing Authority Rev. (I-495 HOT Lanes Project), 5%, 12/31/2038  | $695000 | &nbsp;&nbsp;&nbsp; $728148 |
| Virginia Small Business Financing Authority, Residential Care Facility Rev. (Pinnacle Living), "C", 5%, 6/01/2042  | 500000 | &nbsp;&nbsp;&nbsp; 500243 |
| York, VA, Economic Development Authority, Pollution Control Rev. (Virginia Electric & Power Co. Project), "A", 3.65%, <br> 5/01/2033 (Put Date 10/01/2027)<br>| 610000 | &nbsp;&nbsp;&nbsp; 617485 |
|  |  | &nbsp;&nbsp;&nbsp; $3097001 |
| Washington – 2.9% | Washington – 2.9% | Washington – 2.9% |
| Everett, WA, Housing Authority Refunding Rev. (Huntington Park Apartments Project), 4%, 7/01/2037  | $210000 | &nbsp;&nbsp;&nbsp; $208624 |
| King County, WA, Housing Authority, Pooled Housing Refunding Rev., 5%, 7/01/2040  | 865000 | &nbsp;&nbsp;&nbsp; 908720 |
| Klickitat County, WA, Public Utility District No. 1 Electric System Refunding Rev., AGM, 5%, 12/01/2034  | 1350000 | &nbsp;&nbsp;&nbsp; 1548334 |
| Pacific County, WA, Public Healthcare Services District No. 3 Unlimited Tax General Obligation (Ocean Beach Hospital and <br> Medical Clinics), 5.25%, 12/01/2039 <br>| 500000 | &nbsp;&nbsp;&nbsp; 552374 |
| Pasco, WA, Local Improvement District No. 152, 5.375%, 8/01/2042  | 460000 | &nbsp;&nbsp;&nbsp; 500174 |
| Seattle, WA, Port Intermediate Lien Refunding Rev., "A", 5%, 5/01/2033  | 750000 | &nbsp;&nbsp;&nbsp; 767160 |
| Spokane County, WA, Airport Rev., 5.25%, 1/01/2044  | 1115000 | &nbsp;&nbsp;&nbsp; 1164778 |
| Vancouver, WA, Housing Authority Rev. (Cougar Creek Project), "A", 4%, 10/01/2034  | 220000 | &nbsp;&nbsp;&nbsp; 224672 |
| Vancouver, WA, Housing Authority Rev. (Navalia and Alena Projects), 4%, 8/01/2034  | 880000 | &nbsp;&nbsp;&nbsp; 876291 |
| Washington Health Care Facilities Authority Rev. (CommonSpirit Health), "A", 5%, 9/01/2037  | 600000 | &nbsp;&nbsp;&nbsp; 671353 |
| Washington State Higher Education Facilities Authority Refunding Rev. (Gonzaga University Project), 4%, 4/01/2041  | 1000000 | &nbsp;&nbsp;&nbsp; 996433 |
| Washington State Housing Finance Commission, Multi-Family Rev. (Mill at First Hill Apartments Project), FNMA, 4.15%, <br> 7/01/2034 <br>| 105000 | &nbsp;&nbsp;&nbsp; 108995 |
| Washington State Housing Finance Commission, Non-Profit Housing Refunding Rev. (Horizon House Project), "A", 6%, <br> 1/01/2046 <br>| 1000000 | &nbsp;&nbsp;&nbsp; 998348 |
| Washington State Housing Finance Commission, Non-Profit Housing Rev. (Eastside Retirement Association DBA Emerald <br> Heights Project), "B-1", 5%, 7/01/2038 <br>| 795000 | &nbsp;&nbsp;&nbsp; 835453 |
|  |  | &nbsp;&nbsp;&nbsp; $10361709 |
| West Virginia – 0.4% | West Virginia – 0.4% | West Virginia – 0.4% |
| Ohio County, WV, Commission Tax Increment Refunding & Improvement Rev. (The Highlands Project), 5%, 6/01/2034  | $300000 | &nbsp;&nbsp;&nbsp; $321832 |
| Ohio County, WV, Special District Excise Tax, Improvement Refunding Rev. (Fort Henry Economic Opportunity Development <br> District-The Highland Project), "A", AGM, 5%, 6/01/2040 <br>| 425000 | &nbsp;&nbsp;&nbsp; 457044 |
| West Virginia Economic Development Authority, Solid Waste Disposal Facilities Refunding Rev. (Wheeling Power Co. - Mitchell <br> Project), "A", 3%, 6/01/2037 (Put Date 6/18/2027)<br>| 330000 | &nbsp;&nbsp;&nbsp; 327228 |
| West Virginia Economic Development Authority, Solid Waste Disposal Facilities Rev. (Commercial Metals Co. Project), 4.625%, <br> 4/15/2055 (Put Date 5/15/2032)<br>| 230000 | &nbsp;&nbsp;&nbsp; 232854 |
|  |  | &nbsp;&nbsp;&nbsp; $1338958 |
| Wisconsin – 4.7% | Wisconsin – 4.7% | Wisconsin – 4.7% |
| Wisconsin Health & Educational Facilities Authority Refunding Rev. (Froedtert Health, Inc. Obligated Group), "A", 4%, <br> 4/01/2040 <br>| $1000000 | &nbsp;&nbsp;&nbsp; $999917 |
| Wisconsin Health & Educational Facilities Authority Refunding Rev. (Saint John's Communities, Inc.), "B", 4%, 9/15/2027  | 290000 | &nbsp;&nbsp;&nbsp; 290415 |
| Wisconsin Health & Educational Facilities Authority Refunding Rev. (Saint John's Communities, Inc.), "B", 4%, 9/15/2028  | 195000 | &nbsp;&nbsp;&nbsp; 195883 |
| Wisconsin Health & Educational Facilities Authority Refunding Rev. (Saint John's Communities, Inc.), "B", 4%, 9/15/2029  | 310000 | &nbsp;&nbsp;&nbsp; 312213 |
| Wisconsin Health & Educational Facilities Authority Rev. (Bellin Memorial Hospital, Inc.), "A", 5%, 12/01/2037  | 200000 | &nbsp;&nbsp;&nbsp; 221715 |
| Wisconsin Health & Educational Facilities Authority Rev. (Fort HealthCare, Inc.), "B", 5%, 10/01/2054 (Put Date 10/03/2034) | 1000000 | &nbsp;&nbsp;&nbsp; 1101425 |
| Wisconsin Health & Educational Facilities Authority Rev. (Milwaukee Science Education Consortium, Inc.), "A", 4.5%, <br> 3/15/2033 <br>| 155000 | &nbsp;&nbsp;&nbsp; 157588 |
| Wisconsin Health & Educational Facilities Authority Rev. (Oakwood Lutheran Senior Ministries), 4%, 1/01/2030  | 400000 | &nbsp;&nbsp;&nbsp; 403193 |
| Wisconsin Housing & Economic Development Authority, Home Ownership Rev., GNMA, 6%, 3/01/2055  | 980000 | &nbsp;&nbsp;&nbsp; 1070441 |
| Wisconsin Public Finance Authority Rev. (Roseman University of Health Sciences Project), 5.875%, 4/01/2045  | 155000 | &nbsp;&nbsp;&nbsp; 155000 |
| Wisconsin Public Finance Authority Rev., Taxable (Kahala Nui Project), 5%, 11/15/2034  | 335000 | &nbsp;&nbsp;&nbsp; 368199 |
| Wisconsin Public Finance Authority Rev., Taxable (Kahala Nui Project), 5%, 11/15/2036  | 435000 | &nbsp;&nbsp;&nbsp; 472582 |
| Wisconsin Public Finance Authority, Air Cargo Obligated Group Rev. (AFCO Airport Real Estate Group), 5%, 7/01/2033  | 1125000 | &nbsp;&nbsp;&nbsp; 1204053 |
| Wisconsin Public Finance Authority, Air Cargo Obligated Group Rev. (AFCO Airport Real Estate Group), 5.5%, 7/01/2037  | 315000 | &nbsp;&nbsp;&nbsp; 335974 |
| Wisconsin Public Finance Authority, Airport Facilities Rev. (Transportation Infrastructure Properties LLC), "B", 5.25%, 7/01/2028  | 90000 | &nbsp;&nbsp;&nbsp; 90078 |
| Wisconsin Public Finance Authority, Education Refunding Rev., Taxable (Pinecrest Academy of Nevada - Sloan Canyon Campus <br> Project), "A", 4%, 7/15/2039 (n)<br>| 1000000 | &nbsp;&nbsp;&nbsp; 944095 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Municipal Bonds – continued | Municipal Bonds – continued | Municipal Bonds – continued |
| Wisconsin – continued | Wisconsin – continued | Wisconsin – continued |
| Wisconsin Public Finance Authority, Education Rev. (Mater Academy of Nevada-Cactus Park Campus Project), "A", 5%, <br> 12/15/2035 <br>| $695000 | &nbsp;&nbsp;&nbsp; $727101 |
| Wisconsin Public Finance Authority, Education Rev. (Pinecrest Academy of Nevada - Pinecrest Academy Springs Campus <br> Project), "A", 4%, 7/15/2033 <br>| 750000 | &nbsp;&nbsp;&nbsp; 748521 |
| Wisconsin Public Finance Authority, Education Rev. (Triad Educational Services, Inc.), 5%, 6/15/2032  | 1100000 | &nbsp;&nbsp;&nbsp; 1155147 |
| Wisconsin Public Finance Authority, Housing Rev. (Aggie Apartment Life Holding Corp. II LLC Project), 5%, 6/01/2034  | 1100000 | &nbsp;&nbsp;&nbsp; 1181422 |
| Wisconsin Public Finance Authority, Limited Obligation Grant Rev. (American Dream at Meadowlands Project), "A", 6.25%, <br> 8/01/2027 (a)(d)(n)<br>| 105000 | &nbsp;&nbsp;&nbsp; 84000 |
| Wisconsin Public Finance Authority, Multi-Family Affordable Housing Certificates (Dominium Holdings I), "B-1", 6.81%, <br> 4/28/2036 <br>| 305000 | &nbsp;&nbsp;&nbsp; 314537 |
| Wisconsin Public Finance Authority, Multi-Family Affordable Housing Certificates, "1-A", FHLMC, 4.1%, 9/25/2039 (n) | 605000 | &nbsp;&nbsp;&nbsp; 612521 |
| Wisconsin Public Finance Authority, Multi-Family Housing Rev. (Foothill Affordable Housing Foundation-Elliot Baymeadows <br> Apartments Project), FNMA, 4.5%, 7/01/2067 (Put Date 7/01/2035)<br>| 770000 | &nbsp;&nbsp;&nbsp; 803494 |
| Wisconsin Public Finance Authority, Project Rev. (Eastern Michigan University Student Housing Project), "A-1", 5.25%, <br> 7/01/2037 <br>| 670000 | &nbsp;&nbsp;&nbsp; 734478 |
| Wisconsin Public Finance Authority, Retirement Facilities First Mortgage Rev. (United Methodist Retirement Homes), "A", 4%, <br> 10/01/2030 <br>| 535000 | &nbsp;&nbsp;&nbsp; 550999 |
| Wisconsin Public Finance Authority, Senior Living Refunding Bonds Rev. (Mary's Woods at Marylhurst Project), "A", 5%, <br> 5/15/2030 (n)<br>| 250000 | &nbsp;&nbsp;&nbsp; 252779 |
| Wisconsin Public Finance Authority, Student Housing Facilities Rev. (Campus Real Estate Holding Corp. LLC Project), "A", 5%, <br> 6/01/2035 <br>| 855000 | &nbsp;&nbsp;&nbsp; 919313 |
| Wisconsin Public Finance Authority, Student Housing Rev. (KSU Bixby Real Estate Foundation LLC Project), "B", 5%, 6/15/2030  | 185000 | &nbsp;&nbsp;&nbsp; 195344 |
| Wisconsin Public Finance Authority, Student Housing Rev. (KSU Bixby Real Estate Foundation LLC Project), "B", 5.25%, <br> 6/15/2035 <br>| 175000 | &nbsp;&nbsp;&nbsp; 191368 |
| Wisconsin Public Finance Authority, Texas Infrastructure Program Improvement & Refunding Rev. (Astro Texas Land Projects), <br> Capital Appreciation, 0%, 12/15/2037 <br>| 141000 | &nbsp;&nbsp;&nbsp; 72360 |
|  |  | &nbsp;&nbsp;&nbsp; $16866155 |
| **Total Municipal Bonds**  |  | &nbsp;&nbsp; **$342261764** |
| Other Municipal Bonds – 0.3% | Other Municipal Bonds – 0.3% | Other Municipal Bonds – 0.3% |
| Multi-Family Housing Revenue – 0.3% | Multi-Family Housing Revenue – 0.3% |  |
| Affordable Housing Opportunities Trust Certificates, AH-01, "A", 3.528%, 5/01/2039 (n) | $275000 | &nbsp;&nbsp;&nbsp; $234958 |
| Freddie Mac, 4.547%, 10/25/2040  | 355250 | &nbsp;&nbsp;&nbsp; 362908 |
| Freddie Mac, 4.519%, 8/25/2041  | 381040 | &nbsp;&nbsp;&nbsp; 385689 |
| **Total Other Municipal Bonds**  |  | &nbsp;&nbsp; **$983555** |
| Bonds – 0.1% | Bonds – 0.1% | Bonds – 0.1% |
| Transportation - Services – 0.1% | Transportation - Services – 0.1% |  |
| Toll Road Investors Partnership II LP, Capital Appreciation, NPFG, 0%, 2/15/2028 (n) | $500000 | &nbsp;&nbsp;&nbsp; $433112 |
| Toll Road Investors Partnership II LP, Capital Appreciation, NPFG, 0%, 2/15/2043 (n) | 219865 | &nbsp;&nbsp;&nbsp; 75590 |
| **Total Bonds**  |  | &nbsp;&nbsp; **$508702** |
| Contingent Value Instruments – 0.0% | Contingent Value Instruments – 0.0% | Contingent Value Instruments – 0.0% |
| General Obligations - General Purpose – 0.0% | General Obligations - General Purpose – 0.0% |  |
| Commonwealth of Puerto Rico, General Obligation Contingent Value Instrument, 11/01/2043  | $149061 | &nbsp;&nbsp;&nbsp; $95399 |
| Mutual Funds (h) – 5.0% | Mutual Funds (h) – 5.0% | Mutual Funds (h) – 5.0% |
| Money Market Funds – 5.0% | Money Market Funds – 5.0% |  |
| MFS Institutional Money Market Portfolio, 3.82% (v)  | 17977445 | &nbsp;&nbsp;&nbsp; $17981041 |
| Other Assets, Less Liabilities – 0.0% |  | &nbsp;&nbsp;&nbsp; 71893 |
| **Net Assets – 100.0%** |  | &nbsp;&nbsp; **$361902354** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(d) In default.

------

*Portfolio of Investments (unaudited) – continued*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(h) An affiliated issuer, which may be considered one in which the fund owns 5% or more
 of the outstanding voting securities, or a company which is under common control. At period end, the aggregate values of the fund's investments in affiliated
 issuers and in unaffiliated issuers were $17,981,041 and $343,849,420, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;(n) Securities exempt from registration under Rule 144A of the Securities Act of 1933.
 These securities may be sold in the ordinary course of business in transactions exempt from registration, normally to qualified institutional buyers.
 At period end, the aggregate value of these securities was $6,827,752, representing 1.9% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(v) Affiliated issuer that is available only to investment companies managed by MFS. The
 rate quoted for the MFS Institutional Money Market Portfolio is the annualized seven-day yield of the fund at period end.

&nbsp;&nbsp;&nbsp;&nbsp;(w) When-issued security.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| The following abbreviations are used in this report and are defined: | The following abbreviations are used in this report and are defined: |
| AAC | Ambac Assurance Corp. |
| AGM | Assured Guaranty Municipal |
| BAM | Build America Mutual |
| FHA | Federal Housing Administration |
| FHLMC | Federal Home Loan Mortgage Corp. |
| FLR | Floating Rate. Interest rate resets periodically based on the parenthetically disclosed reference rate plus a spread (if any). The period-end rate <br> reported may not be the current rate. All reference rates are USD unless otherwise noted.<br>|
| FNMA | Federal National Mortgage Assn. |
| GNMA | Government National Mortgage Assn. |
| NPFG | National Public Finance Guarantee Corp. |
| PSF | Permanent School Fund |
| SOFR | Secured Overnight Financing Rate |
| VRDN | Variable rate demand note that may be puttable to the issuer at the option of the holder. The stated interest rate, which generally resets either <br> daily or weekly, represents the rate in effect at period end and may not be the current rate.<br>|

---

See attached supplemental information. For more information see notes to financial statements as disclosed in the most recent semiannual or annual report.

------

**Supplemental Information**

12/31/25 (unaudited)

The fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial

Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies.

**(1) Investment Valuations**

Subject to its oversight, the fund's Board of Trustees has delegated primary responsibility for determining or causing to be determined the value of the fund's investments to MFS as the fund's adviser, pursuant to the fund's valuation policy and procedures which have been adopted by the adviser and approved by the Board. In accordance with Rule 2a-5 under the Investment Company Act of 1940, the Board of Trustees designated the adviser as the "valuation designee" of the fund. If the adviser, as valuation designee, determines that reliable market quotations are not readily available for an investment, the investment is valued at fair value as determined in good faith by the adviser in accordance with the adviser's fair valuation policy and procedures.

Under the fund's valuation policy and procedures, debt instruments and floating rate loans, including restricted debt instruments, are

generally valued at an evaluated or composite bid as provided by a third-party pricing service. Short-term instruments with a maturity at

issuance of 60 days or less may be valued at amortized cost, which approximates market value. Open-end investment companies are generally valued at net asset value per share.

Under the fund's valuation policy and procedures, market quotations are not considered to be readily available for debt instruments, floating rate loans, and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services or otherwise determined by the adviser in accordance with the adviser's fair valuation policy and procedures. Securities and other assets generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. In determining values, third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, spreads and other market data. Pricing services generally value debt instruments assuming orderly transactions of institutional round lot sizes, but a fund may hold or transact in such securities in smaller, odd lot sizes. In instances where a fund holds an odd lot size position in a debt instrument, such position will typically be valued using the pricing agent's institutional round lot price for the debt instrument. Odd lots may trade at lower prices than institutional round lots, and the fund may receive different prices when it sells odd lot positions than it would receive for sales of institutional round lot positions. An investment may also be valued at fair value if the adviser determines that the investment's value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of the fund's net asset value, or after the halt of trading of a specific security where trading does not resume prior to the close of the exchange or market on which the security is principally traded. The adviser generally relies on third-party pricing services or other information (such as the correlation with price movements of similar securities in the same or other markets; the type, cost and investment characteristics of the security; the business and financial condition of the issuer; and trading and other market data) to assist in determining whether to fair value and at what value to fair value an investment. The value of an investment for purposes of calculating the fund's net asset value can differ depending on the source and method used to determine value. When fair valuation is used, the value of an investment used to determine the fund's net asset value may differ from quoted or published prices for the same investment. There can be no assurance that the fund could obtain the fair value assigned to an investment if it were to sell the investment at the same time at which the fund determines its net

asset value per share.

Various inputs are used in determining the value of the fund's assets or liabilities. These inputs are categorized into three broad levels. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fund's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes other significant observable market-based inputs (including quoted prices for similar securities, interest rates, prepayment speed, and credit risk). Level 3 includes significant unobservable inputs, which may include the adviser's own assumptions in determining the fair value of investments. The following is a summary of the levels used as of December 31, 2025 in valuing the fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Financial Instruments** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Municipal Bonds | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $343340718 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $343340718 |
| U.S. Corporate Bonds | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 508702 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 508702 |
| Investment Companies | &nbsp;&nbsp;&nbsp; 17981041 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 17981041 |
| Total | &nbsp;&nbsp;&nbsp; $17981041 | &nbsp;&nbsp;&nbsp; $343849420 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $361830461 |

---

For further information regarding security characteristics, see the Portfolio of Investments.

------

*Supplemental Information (unaudited) – continued*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**(2) Investments in Affiliated Issuers**

An affiliated issuer may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. The following were affiliated issuers for the period ended December 31, 2025:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated Issuers** | **Beginning** <br>**Value**<br>| **Purchases** | **Sales** <br>**Proceeds**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation or** <br>**Depreciation**<br>| **Ending** <br>**Value**<br>|
| MFS Institutional Money Market Portfolio  | &nbsp;&nbsp; $4971326 | &nbsp;&nbsp; $97513693 | &nbsp;&nbsp; $84505614 | &nbsp;&nbsp; $174 | &nbsp;&nbsp; $1462 | &nbsp;&nbsp; $17981041<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Affiliated Issuers** | **Dividend** <br>**Income**<br>| **Capital Gain** <br>**Distributions**<br>|
| MFS Institutional Money Market Portfolio  | &nbsp;&nbsp; $338093 | &nbsp;&nbsp; $— |

---

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** MFS Municipal Series Trust

- **b. Investment Company Act file number:** 811-04096

- **c. CIK number of Registrant:** 0000751656

- **d. LEI of Registrant:** 5493001Q9KE7H84Z5340

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

  - **Street Address 1:** 111 Huntington Avenue

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02199

  - **Telephone number:** 617-954-5000

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

- **a. Name of Series:** MFS Municipal Intermediate Fund

- **b. EDGAR series identifier (if any):** S000071695

- **c. LEI of Series:** 549300PSMWF1MUF80F76

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $366507564.11

**Total Liabilities:** $4605215.98

**Net Assets:** $361902348.13

**Delayed Delivery Securities:** $2983308.50

**Cash Not Reported:** $13542.79

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -529.57502570 | **1-Year:** -8757.89487560 | **5-Year:** -54130.33228320 | **10-Year:** -94951.55058740 | **30-Year:** -11153.69701780

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

- **3-Month:** -212.35971320 | **1-Year:** -3684.48136440 | **5-Year:** -15902.41285800 | **10-Year:** -22518.36360940 | **30-Year:** -2523.59319360

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000227169 | 1.10%                | 0.22%                | 0.23%                |
| Class ID C000227170 | 1.16%                | 0.28%                | 0.29%                |
| Class ID C000227171 | 1.07%                | 0.30%                | 0.31%                |
| Class ID C000227172 | 1.19%                | 0.31%                | 0.32%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-9353.88                | $2671588.80                                |
| Month 2  | $-11110.27               | $101255.05                                 |
| Month 3  | $-6897.52                | $5551.04                                   |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Adams & Arapahoe Counties Joint School District 28J Aurora                                | Adams & Arapahoe Counties Joint School District 28J Aurora                                  | CUSIP: 005484DA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    540000 | PA      | $581277.11    | 0.16%             | 2043-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Adams County General Authority                                                            | Adams County General Authority, Series 2024A                                                | CUSIP: 006114AA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    990000 | PA      | $1049495.73   | 0.29%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Affordable Housing Opportunities Trust                                                    | Affordable Housing Opportunities Trust, Series AH-01-1, Class A                             | CUSIP: 00826SAC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $234958.13    | 0.06%             | 2039-05-01      | Fixed         | 3.53%                 | Yes           |                  2 | On Loan: No      |
| Alabama State University                                                                  | Alabama State University, Series 2025                                                       | CUSIP: 010632QK6<br>LEI: 549300JCR3DWTI08FS98 | Long             | DBT              | MUN               | US        |    650000 | PA      | $740651.08    | 0.20%             | 2038-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Alaska Housing Finance Corp.                                                              | Alaska Housing Finance Corp.                                                                | CUSIP: 01170RNT5<br>LEI: 549300HJ8NOJNYW6ER36 | Long             | DBT              | MUN               | US        |    275000 | PA      | $290522.43    | 0.08%             | 2052-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Alaska Railroad Corp.                                                                     | Alaska Railroad Corp., Series 2025                                                          | CUSIP: 01176AAM5<br>LEI: 549300SM5ZU2HV31E004 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1463543.90   | 0.40%             | 2039-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Allegheny County Hospital Development Authority                                           | Allegheny County Hospital Development Authority, Series 2018A                               | CUSIP: 01728A3W4<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |    245000 | PA      | $252709.81    | 0.07%             | 2036-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Allegheny County Airport Authority                                                        | Allegheny County Airport Authority, Series 2025A                                            | CUSIP: 01728LKN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1285000 | PA      | $1431573.40   | 0.40%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Allen OH Hospital Facilities Revenue                                            | County of Allen                                                                             | CUSIP: 01757LHA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $547864.40    | 0.15%             | 2051-10-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Allentown Commercial and Industrial Development Authority                                 | Allentown Commercial and Industrial Development Authority, Series 2023                      | CUSIP: 01843AAB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $523644.80    | 0.14%             | 2038-06-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Allentown Neighborhood Improvement Zone Development Authority                             | Allentown Neighborhood Improvement Zone Development Authority                               | CUSIP: 018444BN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $10036.06     | 0.00%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                                  | Arizona Industrial Development Authority                                                    | CUSIP: 04052BSW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    465000 | PA      | $468001.90    | 0.13%             | 2033-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                                  | Arizona Industrial Development Authority                                                    | CUSIP: 04052BTB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500039.00    | 0.14%             | 2033-07-01      | Fixed         | 4.43%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                                  | Arizona Industrial Development Authority, Series 2025A                                      | CUSIP: 04052BTS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1394300.18   | 0.39%             | 2060-07-01      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                                  | Arizona Industrial Development Authority, Series BDS 2024                                   | CUSIP: 04062AAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    797730 | PA      | $807122.39    | 0.22%             | 2041-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                                  | Arizona Industrial Development Authority, Series 2024                                       | CUSIP: 04062PCA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     67000 | PA      | $67443.83     | 0.02%             | 2045-03-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Arkansas Development Finance Authority                                                    | Arkansas Development Finance Authority, Series 2025                                         | CUSIP: 04084EAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    195000 | PA      | $195173.84    | 0.05%             | 2067-10-15      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| Arkansas Development Finance Authority                                                    | Arkansas Development Finance Authority                                                      | CUSIP: 04108VBS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $125009.19    | 0.03%             | 2027-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Arkansas Development Finance Authority                                                    | Arkansas Development Finance Authority                                                      | CUSIP: 04109KFX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $134382.06    | 0.04%             | 2028-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Arlington Higher Education Finance Corp.                                                  | Arlington Higher Education Finance Corp., Series 2025                                       | CUSIP: 041807PT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    870000 | PA      | $890824.84    | 0.25%             | 2040-06-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Atlanta Development Authority (The)                                                       | Atlanta Development Authority (The), Series 2024A-1                                         | CUSIP: 04780NMW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    185000 | PA      | $188765.53    | 0.05%             | 2034-04-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Atlanta Urban Residential Finance Authority                                               | Atlanta Urban Residential Finance Authority, Series 2025                                    | CUSIP: 04785VBX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    187000 | PA      | $188168.06    | 0.05%             | 2029-02-01      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| Atlanta Urban Residential Finance Authority                                               | Atlanta Urban Residential Finance Authority, Series 2024A                                   | CUSIP: 04785WAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1065965.30   | 0.29%             | 2043-09-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Austin Convention Enterprises, Inc.                                                       | Austin Convention Enterprises, Inc.                                                         | CUSIP: 052409DL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $146191.29    | 0.04%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Austin Convention Enterprises, Inc.                                                       | Austin Convention Enterprises, Inc.                                                         | CUSIP: 052409DN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $221770.60    | 0.06%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Austin Convention Enterprises, Inc.                                                       | Austin Convention Enterprises, Inc.                                                         | CUSIP: 052409EA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $95000.00     | 0.03%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Austin Convention Enterprises, Inc.                                                       | Austin Convention Enterprises, Inc.                                                         | CUSIP: 052409EC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $75441.85     | 0.02%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Baldwin County Industrial Development Authority                                           | Baldwin County Industrial Development Authority, Series 2025A                               | CUSIP: 05786PAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    465000 | PA      | $474053.88    | 0.13%             | 2055-06-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Baldwin County Industrial Development Authority                                           | Baldwin County Industrial Development Authority, Series 2025 B                              | CUSIP: 05786PAB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $135586.43    | 0.04%             | 2055-06-01      | Variable      | 4.62%                 | No            |                  2 | On Loan: No      |
| City of Baltimore MD                                                                      | City of Baltimore                                                                           | CUSIP: 05922KK57<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $457676.19    | 0.13%             | 2038-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Village of Bellwood IL                                                                    | Village of Bellwood, Series 2024                                                            | CUSIP: 080031AD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $794200.28    | 0.22%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Berks County Municipal Authority (The)                                                    | Berks County Municipal Authority (The), Series 2024 A-1A                                    | CUSIP: 084538JD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    126000 | PA      | $126334.29    | 0.03%             | 2034-06-30      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Berks County Municipal Authority (The)                                                    | Berks County Municipal Authority (The), Series 2024 A-2A                                    | CUSIP: 084538JF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    104000 | PA      | $111755.79    | 0.03%             | 2034-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Berks County Municipal Authority (The)                                                    | Berks County Municipal Authority (The), Series 2024A-3                                      | CUSIP: 084538JH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $720060.08    | 0.20%             | 2039-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Berks County Municipal Authority (The)                                                    | Berks County Municipal Authority (The), Series 2024 B-1                                     | CUSIP: 084538JK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     23000 | PA      | $15866.04     | 0.00%             | 2044-06-30      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Alabama Special Care Facilities Financing Authority-Birmingham AL                         | Alabama Special Care Facilities Financing Authority-Birmingham, Series 2025A                | CUSIP: 090929GW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1095887.50   | 0.30%             | 2043-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                            | Black Belt Energy Gas District                                                              | CUSIP: 09182NBR0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    185000 | PA      | $189237.52    | 0.05%             | 2051-06-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                            | Black Belt Energy Gas District                                                              | CUSIP: 09182NCB4<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    315000 | PA      | $317594.69    | 0.09%             | 2052-07-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                            | Black Belt Energy Gas District                                                              | CUSIP: 09182TBT3<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    345000 | PA      | $362157.44    | 0.10%             | 2053-11-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                            | Black Belt Energy Gas District, Series 2023C                                                | CUSIP: 09182TDB0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    250000 | PA      | $274728.83    | 0.08%             | 2054-10-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                            | Black Belt Energy Gas District, Series 2024 C                                               | CUSIP: 09182TDU8<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    365000 | PA      | $391338.58    | 0.11%             | 2055-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                            | Black Belt Energy Gas District, Series 2025 A                                               | CUSIP: 09182TEV5<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    730000 | PA      | $753492.20    | 0.21%             | 2056-05-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Bondurant IA                                                                      | City of Bondurant, Series 2025B                                                             | CUSIP: 098041PU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1103825.70   | 0.31%             | 2038-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Brazos Higher Education Authority, Inc.                                                   | Brazos Higher Education Authority, Inc., Series 2023-1A                                     | CUSIP: 10623ACL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    265000 | PA      | $278178.61    | 0.08%             | 2043-04-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Brazos Higher Education Authority, Inc.                                                   | Brazos Higher Education Authority, Inc., Series 2024-1A                                     | CUSIP: 10623ACQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $541007.95    | 0.15%             | 2033-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Brazos Higher Education Authority, Inc.                                                   | Brazos Higher Education Authority, Inc., Series 2024-1A                                     | CUSIP: 10623ACR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    435000 | PA      | $470033.81    | 0.13%             | 2034-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Brazos Higher Education Authority, Inc.                                                   | Brazos Higher Education Authority, Inc., Series 2024-1A                                     | CUSIP: 10623ACS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $163759.61    | 0.05%             | 2045-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Village of Bridgeview IL                                                                  | Village of Bridgeview                                                                       | CUSIP: 108555GG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    245000 | PA      | $229154.50    | 0.06%             | 2036-12-01      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| Bromley Park Metropolitan District No. 3                                                  | Bromley Park Metropolitan District No. 3, Series 2024                                       | CUSIP: 11222PAL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    905000 | PA      | $982492.98    | 0.27%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                                                  | Build NYC Resource Corp.                                                                    | CUSIP: 12008ESX5<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    300000 | PA      | $317800.77    | 0.09%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                                                  | Build NYC Resource Corp.                                                                    | CUSIP: 12008ETU0<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    750000 | PA      | $792948.75    | 0.22%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                                                  | Build NYC Resource Corp., Series 2025A                                                      | CUSIP: 12008EWL6<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1303839.50   | 0.36%             | 2035-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                                                  | Build NYC Resource Corp., Series 2025                                                       | CUSIP: 12008QAA7<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    340000 | PA      | $370362.85    | 0.10%             | 2041-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Development Authority of Burke County (The)                                               | Development Authority of Burke County (The)                                                 | CUSIP: 121342QG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250713.15    | 0.07%             | 2032-10-01      | Variable      | 3.80%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                           | California Community Choice Financing Authority                                             | CUSIP: 13013JCM6<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    770000 | PA      | $818156.80    | 0.23%             | 2054-01-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                           | California Community Choice Financing Authority, Series 2023 F                              | CUSIP: 13013JDD5<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    395000 | PA      | $431045.96    | 0.12%             | 2054-10-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                           | California Community Choice Financing Authority, Series 2024C                               | CUSIP: 13013JEB8<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    285000 | PA      | $301918.20    | 0.08%             | 2055-08-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                           | California Community Choice Financing Authority, Series 2024 H                              | CUSIP: 13013JFW1<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1675000 | PA      | $1832978.97   | 0.51%             | 2056-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                           | California Community Choice Financing Authority, Series 2025C                               | CUSIP: 13013JHD1<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    490000 | PA      | $520081.10    | 0.14%             | 2055-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                           | California Community Choice Financing Authority, Series 2025 E                              | CUSIP: 13013JHG4<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1090455.50   | 0.30%             | 2056-10-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                          | California Health Facilities Financing Authority, Series 2025 C3                            | CUSIP: 13032U4R6<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1706147.40   | 0.47%             | 2050-10-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                                    | California Municipal Finance Authority                                                      | CUSIP: 13048RAF4<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    315000 | PA      | $315081.74    | 0.09%             | 2044-12-01      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                                    | California Municipal Finance Authority, Series 2024A                                        | CUSIP: 13048RAP2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    655000 | PA      | $655612.03    | 0.18%             | 2054-03-01      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                                    | California Municipal Finance Authority, Series 2025                                         | CUSIP: 13048V4M7<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    388000 | PA      | $401446.06    | 0.11%             | 2035-09-01      | Fixed         | 5.69%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority                                                       | California School Finance Authority, Series 2021 A                                          | CUSIP: 13058TMY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $318924.29    | 0.09%             | 2036-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority                                                       | California School Finance Authority                                                         | CUSIP: 13058TPT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $516007.05    | 0.14%             | 2032-08-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority                                                       | California School Finance Authority                                                         | CUSIP: 13058TSD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    620000 | PA      | $642039.33    | 0.18%             | 2033-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                                    | California Statewide Communities Development Authority                                      | CUSIP: 13078RGW4<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |     80000 | PA      | $82119.66     | 0.02%             | 2030-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                                    | California Statewide Communities Development Authority                                      | CUSIP: 13080SEV2<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    715000 | PA      | $717054.12    | 0.20%             | 2034-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                                    | California Statewide Communities Development Authority                                      | CUSIP: 13080SEW0<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    130000 | PA      | $130374.36    | 0.04%             | 2044-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                                    | California Statewide Communities Development Authority                                      | CUSIP: 13080SJN5<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |     90000 | PA      | $90074.23     | 0.02%             | 2034-03-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                                    | California Statewide Communities Development Authority, Series 2024C-2                      | CUSIP: 13080SY73<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    900000 | PA      | $908741.61    | 0.25%             | 2040-09-02      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Camden County Improvement Authority (The)                                                 | Camden County Improvement Authority (The), Series 2024                                      | CUSIP: 13281RAF0<br>LEI: 549300UTQBT9ZE0QFB15 | Long             | DBT              | MUN               | US        |    375000 | PA      | $376176.56    | 0.10%             | 2027-03-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Capital Area Finance Authority                                                            | Capital Area Finance Authority, Series 2023                                                 | CUSIP: 13973GBJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    245000 | PA      | $273169.32    | 0.08%             | 2054-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Capital Trust Authority                                                                   | Capital Trust Authority, Series 2025A                                                       | CUSIP: 14054WBT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $199728.44    | 0.06%             | 2040-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Carthage Independent School District                                                      | Carthage Independent School District, Series 2024                                           | CUSIP: 146735FA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $256738.80    | 0.07%             | 2038-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Celina TX                                                                         | City of Celina, Series 2025                                                                 | CUSIP: 15114CKK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $805612.58    | 0.22%             | 2039-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Valley Energy Authority                                                           | Central Valley Energy Authority, Series 2025                                                | CUSIP: 15569DAA0<br>LEI: 254900G5IPQ9MA3FRJ55 | Long             | DBT              | MUN               | US        |    470000 | PA      | $511968.42    | 0.14%             | 2055-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Chandler Industrial Development Authority                                                 | Chandler Industrial Development Authority                                                   | CUSIP: 158862CB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1255000 | PA      | $1278900.35   | 0.35%             | 2052-09-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Charleston County Airport District                                                        | Charleston County Airport District, Series 2024A                                            | CUSIP: 160070EH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $793860.30    | 0.22%             | 2044-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Charleston Housing Authority/SC                                                           | Charleston Housing Authority, Series 2025                                                   | CUSIP: 160340AC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    555000 | PA      | $566430.50    | 0.16%             | 2035-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Charlotte County Industrial Development Authority/FL                                      | Charlotte County Industrial Development Authority, Series 2025                              | CUSIP: 16080TAJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $413519.60    | 0.11%             | 2035-10-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Chattanooga Health Educational & Housing Facility Board                                   | Chattanooga Health Educational & Housing Facility Board                                     | CUSIP: 162410DN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500182.55    | 0.14%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chesapeake Economic Development Authority                                                 | Chesapeake Economic Development Authority                                                   | CUSIP: 16532YAD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    305000 | PA      | $308742.32    | 0.09%             | 2032-02-01      | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |
| Chester County Health and Education Facilities Authority                                  | Chester County Health and Education Facilities Authority                                    | CUSIP: 165579HA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $407601.97    | 0.11%             | 2030-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chester County Health and Education Facilities Authority                                  | Chester County Health and Education Facilities Authority, Series 2025                       | CUSIP: 165579HS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1305000 | PA      | $1317427.65   | 0.36%             | 2046-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Chester County Industrial Development Authority                                           | Chester County Industrial Development Authority                                             | CUSIP: 165588DP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     80000 | PA      | $80697.15     | 0.02%             | 2037-12-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL                                                                        | City of Chicago                                                                             | CUSIP: 167486P45<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1039953.50   | 0.29%             | 2038-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                                | Chicago Board of Education                                                                  | CUSIP: 167501WF8<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |     25000 | PA      | $25273.64     | 0.01%             | 2026-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                                | Chicago Board of Education                                                                  | CUSIP: 167505WP7<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    500000 | PA      | $510460.80    | 0.14%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                                | Chicago Board of Education                                                                  | CUSIP: 167505YL4<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    225000 | PA      | $195924.22    | 0.05%             | 2041-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                                | Chicago Board of Education, Series 2023A                                                    | CUSIP: 167505ZC3<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    500000 | PA      | $508449.20    | 0.14%             | 2036-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education Dedicated Capital Improvement Tax                              | Chicago Board of Education Dedicated Capital Improvement Tax, Series 2016                   | CUSIP: 167510AE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $466743.55    | 0.13%             | 2036-04-01      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education Dedicated Capital Improvement Tax                              | Chicago Board of Education Dedicated Capital Improvement Tax                                | CUSIP: 167510BE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1029384.80   | 0.28%             | 2041-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Midway International Airport                                                      | Chicago Midway International Airport, Series 2023A                                          | CUSIP: 167562SC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1100485.20   | 0.30%             | 2040-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Chicago Midway International Airport                                                      | Chicago Midway International Airport, Series 2025 A                                         | CUSIP: 167562VC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    820000 | PA      | $864514.93    | 0.24%             | 2043-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                                      | Chicago O'Hare International Airport                                                        | CUSIP: 167590EY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    170000 | PA      | $175263.95    | 0.05%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                                      | Chicago O'Hare International Airport                                                        | CUSIP: 1675932A9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $217211.90    | 0.06%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                                      | Chicago O'Hare International Airport                                                        | CUSIP: 167593Z96<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $436325.24    | 0.12%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City Center West Residential Metropolitan District No. 2                                  | City Center West Residential Metropolitan District No. 2                                    | CUSIP: 17776QAL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    302000 | PA      | $327060.84    | 0.09%             | 2040-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| County of Clark Department of Aviation                                                    | County of Clark Department of Aviation                                                      | CUSIP: 18085PSZ8<br>LEI: 549300LDD8NZB2EOVG83 | Long             | DBT              | MUN               | US        |    455000 | PA      | $459774.32    | 0.13%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Coconino County Pollution Control Corp.                                                   | Coconino County Pollution Control Corp.                                                     | CUSIP: 191855BN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $155252.48    | 0.04%             | 2032-09-01      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                                      | Colorado Health Facilities Authority, Series 2025A                                          | CUSIP: 19648FA79<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    275000 | PA      | $286738.43    | 0.08%             | 2040-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                                      | Colorado Health Facilities Authority                                                        | CUSIP: 19648FSP0<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    125000 | PA      | $125000.00    | 0.03%             | 2026-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                                      | Colorado Health Facilities Authority                                                        | CUSIP: 19648FWM2<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1100676.70   | 0.30%             | 2037-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                                      | Colorado Health Facilities Authority, Series 2025A                                          | CUSIP: 19648FZG2<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    975000 | PA      | $1062352.79   | 0.29%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Columbus-Franklin County Finance Authority                                                | Columbus-Franklin County Finance Authority, Series 2025 A                                   | CUSIP: 199097JP2<br>LEI: 549300NX3ODQN2ETOO82 | Long             | DBT              | MUN               | US        |   1115000 | PA      | $1156694.31   | 0.32%             | 2035-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Columbus Metropolitan Housing Authority                                                   | Columbus Metropolitan Housing Authority, Series 2024                                        | CUSIP: 199518AP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $998924.50    | 0.28%             | 2041-12-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Columbus Metropolitan Housing Authority                                                   | Columbus Metropolitan Housing Authority, Series 2024                                        | CUSIP: 19951AAR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    190000 | PA      | $191451.03    | 0.05%             | 2034-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Columbus Metropolitan Housing Authority                                                   | Columbus Metropolitan Housing Authority, Series 2024                                        | CUSIP: 19951AAU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $529832.90    | 0.15%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Columbus Regional Airport Authority                                                       | Columbus Regional Airport Authority, Series 2025 A                                          | CUSIP: 199546CR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    205000 | PA      | $230649.29    | 0.06%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth Financing Authority                                                          | Commonwealth Financing Authority, Series 2018                                               | CUSIP: 20282EAS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    630000 | PA      | $620417.13    | 0.17%             | 2039-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State Higher Education Supplement Loan Authority                              | Connecticut State Higher Education Supplement Loan Authority                                | CUSIP: 207743XG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1530000 | PA      | $1637718.12   | 0.45%             | 2031-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State Health & Educational Facilities Authority                               | Connecticut State Health & Educational Facilities Authority                                 | CUSIP: 20774YV79<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001708.70   | 0.28%             | 2030-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Housing Finance Authority                                                     | Connecticut Housing Finance Authority                                                       | CUSIP: 20775HXT5<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |    465000 | PA      | $489737.44    | 0.14%             | 2052-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Cook County Community College District No. 508                                            | Cook County Community College District No. 508, Series 2024                                 | CUSIP: 213187ED5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1081953.40   | 0.30%             | 2038-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cumberland County Municipal Authority                                                     | Cumberland County Municipal Authority, Series 2026 A                                        | CUSIP: 230614TY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1016212.10   | 0.28%             | 2044-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Dallas Housing Finance Corp.                                                      | City of Dallas Housing Finance Corp.                                                        | CUSIP: 235298BR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $145015.09    | 0.04%             | 2044-02-01      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| City of Dallas TX                                                                         | City of Dallas, Series 2023                                                                 | CUSIP: 235380AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100055.22    | 0.03%             | 2053-08-15      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| DeKalb County Development Authority                                                       | DeKalb County Development Authority, Series 2024A                                           | CUSIP: 240463KA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $253753.50    | 0.07%             | 2040-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DeKalb County Housing Authority                                                           | DeKalb County Housing Authority, Series 2024                                                | CUSIP: 240471PE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    840000 | PA      | $845489.90    | 0.23%             | 2034-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Decatur Housing Authority                                                                 | Decatur Housing Authority, Series 2025                                                      | CUSIP: 24311PAE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    426000 | PA      | $429709.52    | 0.12%             | 2028-08-01      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| Delaware State Economic Development Authority                                             | Delaware State Economic Development Authority, Series 2020A                                 | CUSIP: 246387SY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    510000 | PA      | $510944.11    | 0.14%             | 2045-10-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Delaware State Housing Authority                                                          | Delaware State Housing Authority, Series 2024 A                                             | CUSIP: 246395ZM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    905000 | PA      | $986304.39    | 0.27%             | 2055-01-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Delaware State Housing Authority                                                          | Delaware State Housing Authority, Series BDS 2023                                           | CUSIP: 24639AAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    735000 | PA      | $760862.59    | 0.21%             | 2041-01-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Delaware Valley Regional Finance Authority                                                | Delaware Valley Regional Finance Authority                                                  | CUSIP: 246579JK3<br>LEI: 549300HGYP3NW885TT18 | Long             | DBT              | MUN               | US        |    795000 | PA      | $750679.94    | 0.21%             | 2037-06-01      | Floating      | 3.47%                 | No            |                  2 | On Loan: No      |
| Denver City & County Housing Authority                                                    | Denver City & County Housing Authority, Series 2025A                                        | CUSIP: 24917QBP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $60536.08     | 0.02%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia Housing Finance Agency                                               | District of Columbia Housing Finance Agency, Series 2024 A2                                 | CUSIP: 254768YN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1305405.00   | 0.36%             | 2046-09-01      | Variable      | 4.10%                 | No            |                  2 | On Loan: No      |
| District of Columbia Housing Finance Agency                                               | District of Columbia Housing Finance Agency, Series 2025A                                   | CUSIP: 25477PQC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1300744.13   | 0.36%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia Housing Finance Agency                                               | District of Columbia Housing Finance Agency, Series 2024                                    | CUSIP: 25477TAX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    327000 | PA      | $339360.08    | 0.09%             | 2028-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia Housing Finance Agency                                               | District of Columbia Housing Finance Agency, Series 2025 B                                  | CUSIP: 25477TBB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $114116.50    | 0.03%             | 2029-03-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                                      | District of Columbia, Series 2024A                                                          | CUSIP: 25483VB86<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    250000 | PA      | $255832.90    | 0.07%             | 2034-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| District of Columbia                                                                      | District of Columbia                                                                        | CUSIP: 25483VUW2<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    250000 | PA      | $222467.00    | 0.06%             | 2049-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| District of Columbia                                                                      | District of Columbia                                                                        | CUSIP: 25483WAK8<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    100000 | PA      | $94137.93     | 0.03%             | 2045-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Dorchester SC                                                                   | County of Dorchester, Series 2023                                                           | CUSIP: 258149AD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $418120.34    | 0.12%             | 2033-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| County of Dorchester SC                                                                   | County of Dorchester, Series 2023                                                           | CUSIP: 258149AE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $278373.59    | 0.08%             | 2043-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Dowdell Public Utility District/TX                                                        | Dowdell Public Utility District                                                             | CUSIP: 260655RL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $197885.86    | 0.05%             | 2026-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Downtown Revitalization Public Infrastructure District                                    | Downtown Revitalization Public Infrastructure District, Series 2025C                        | CUSIP: 26118TBW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    181000 | PA      | $182281.14    | 0.05%             | 2035-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Doylestown Hospital Authority                                                             | Doylestown Hospital Authority, Series 2019A                                                 | CUSIP: 261333HD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $9354.36      | 0.00%             | 2045-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Doylestown Hospital Authority                                                             | Doylestown Hospital Authority, Series 2024                                                  | CUSIP: 261333HH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $106185.61    | 0.03%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Duluth Economic Development Authority                                                     | Duluth Economic Development Authority                                                       | CUSIP: 26444VAE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $123955.08    | 0.03%             | 2026-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Dutchess County Local Development Corp.                                                   | Dutchess County Local Development Corp.                                                     | CUSIP: 267045LW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | PA      | $343987.91    | 0.10%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EP Cimarron Ventanas PFC                                                                  | EP Cimarron Ventanas PFC, Series 2024                                                       | CUSIP: 26879QAN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $156214.70    | 0.04%             | 2039-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| EHOVE Joint Vocational School District                                                    | EHOVE Joint Vocational School District, Series 2025                                         | CUSIP: 282407BU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $398246.42    | 0.11%             | 2036-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| EHOVE Joint Vocational School District                                                    | EHOVE Joint Vocational School District, Series 2025                                         | CUSIP: 282407BV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $423818.10    | 0.12%             | 2037-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Energy Southeast A Cooperative District                                                   | Energy Southeast A Cooperative District, Series 2023B-1                                     | CUSIP: 292723AY9<br>LEI: 2549001SMMZ81MXBXZ89 | Long             | DBT              | MUN               | US        |    345000 | PA      | $382090.23    | 0.11%             | 2054-04-01      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| Energy Southeast A Cooperative District                                                   | Energy Southeast A Cooperative District, Series 2025B                                       | CUSIP: 292723CN1<br>LEI: 2549001SMMZ81MXBXZ89 | Long             | DBT              | MUN               | US        |   1610000 | PA      | $1668613.18   | 0.46%             | 2033-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EP Royal Estates PFC                                                                      | EP Royal Estates PFC, Series 2024                                                           | CUSIP: 29415NAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101144.60    | 0.03%             | 2039-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| EP Essential Housing WF PFC                                                               | EP Essential Housing WF PFC, Series 2024                                                    | CUSIP: 29416AAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    765000 | PA      | $775098.31    | 0.21%             | 2034-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| City of Erie Higher Education Building Authority                                          | City of Erie Higher Education Building Authority, Series 2025 XX1                           | CUSIP: 295435DW8<br>LEI: 549300JDMWBZICIGLV66 | Long             | DBT              | MUN               | US        |    400000 | PA      | $397806.88    | 0.11%             | 2033-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Erie Sewer Authority                                                                      | Erie Sewer Authority, Series 2025                                                           | CUSIP: 295533RW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    835000 | PA      | $884095.24    | 0.24%             | 2042-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Everett Housing Authority/WA                                                              | Everett Housing Authority                                                                   | CUSIP: 30002GAG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $208624.21    | 0.06%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FW Chaparral PFC                                                                          | FW Chaparral PFC, Series 2025                                                               | CUSIP: 302701AD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    830000 | PA      | $829771.67    | 0.23%             | 2035-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FW Ramble Public Facility Corp.                                                           | FW Ramble Public Facility Corp., Series 2025                                                | CUSIP: 302708AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    755000 | PA      | $746445.70    | 0.21%             | 2035-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Farmington NM                                                                     | City of Farmington                                                                          | CUSIP: 311450GC8<br>LEI: 5493000GWMTI2L4AZA61 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1013292.80   | 0.28%             | 2040-06-01      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily ML Certificates                                                         | FHLMC Multifamily Structured Pass-Through Certificates, Series 2024-ML21, Class AUS         | CUSIP: 3137HC2E1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    381040 | PA      | $385689.19    | 0.11%             | 2041-08-25      | Variable      | 4.61%                 | No            |                  2 | On Loan: No      |
| FHLMC Structured Pass-Through Certificates                                                | FHLMC Structured Pass-Through Certificates                                                  | CUSIP: 3137HCXR8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | MUN               | US        |    355250 | PA      | $362907.56    | 0.10%             | 2040-10-25      | Variable      | 4.69%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp.                                                         | Florida Development Finance Corp., Series 2025 A                                            | CUSIP: 34061UNE4<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    750000 | PA      | $778117.43    | 0.22%             | 2035-06-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp.                                                         | Florida Development Finance Corp.                                                           | CUSIP: 34061WBF0<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    500000 | PA      | $496338.70    | 0.14%             | 2028-06-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Florida Development Finance Corp.                                                         | Florida Development Finance Corp., Series 2024A                                             | CUSIP: 34061XAG7<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    520000 | PA      | $526040.06    | 0.15%             | 2054-10-01      | Variable      | 4.38%                 | No            |                  2 | On Loan: No      |
| Florida Higher Educational Facilities Financing Authority                                 | Florida Higher Educational Facilities Financing Authority                                   | CUSIP: 34073TKW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $478166.25    | 0.13%             | 2038-06-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Florida Housing Finance Corp.                                                             | Florida Housing Finance Corp., Series 2023 B                                                | CUSIP: 34074HGZ9<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |    450000 | PA      | $450688.55    | 0.12%             | 2027-02-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Local Government Finance Commission                                               | Florida Local Government Finance Commission, Series 2025 B-2                                | CUSIP: 34077UAL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1313805.61   | 0.36%             | 2031-11-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| City of Forsyth MT                                                                        | City of Forsyth, Series 2010A                                                               | CUSIP: 346668DP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    410000 | PA      | $422148.51    | 0.12%             | 2032-10-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Fort Loramie Local School District                                                        | Fort Loramie Local School District                                                          | CUSIP: 347790AW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    385000 | PA      | $395853.88    | 0.11%             | 2045-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Fort Worth TX                                                                     | City of Fort Worth, Series 2025                                                             | CUSIP: 349507ER0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    755000 | PA      | $818321.17    | 0.23%             | 2043-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Gahanna-Jefferson City School District                                                    | Gahanna-Jefferson City School District                                                      | CUSIP: 362671CA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $263563.00    | 0.07%             | 2042-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Gahanna-Jefferson City School District                                                    | Gahanna-Jefferson City School District                                                      | CUSIP: 362671CB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $261460.50    | 0.07%             | 2043-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Galveston TX Wharves & Terminal Revenue                                           | City of Galveston, Series 2023                                                              | CUSIP: 364568JC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $824825.33    | 0.23%             | 2032-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Galveston TX Wharves & Terminal Revenue                                           | City of Galveston, Series 2023                                                              | CUSIP: 364568JH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    340000 | PA      | $366483.52    | 0.10%             | 2037-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Galveston TX Wharves & Terminal Revenue                                           | City of Galveston, Series 2023                                                              | CUSIP: 364568JK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $277451.33    | 0.08%             | 2039-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Garden City KS                                                                    | City of Garden City, Series 2025                                                            | CUSIP: 36508AAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $159614.43    | 0.04%             | 2033-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Gary Chicago International Airport Authority                                              | Gary Chicago International Airport Authority, Series 2025                                   | CUSIP: 367066BP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    490000 | PA      | $532887.99    | 0.15%             | 2042-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Genesee County Funding Corp. (The)                                                        | Genesee County Funding Corp. (The)                                                          | CUSIP: 371669AF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    685000 | PA      | $708820.88    | 0.20%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Municipal Gas Authority of Georgia                                                        | Municipal Gas Authority of Georgia, Series 2025                                             | CUSIP: 373295LY8<br>LEI: DZK31GUXG7KOG1CHBL95 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020116.60   | 0.28%             | 2050-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Godley TX                                                                         | City of Godley                                                                              | CUSIP: 380316AP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    865000 | PA      | $935719.20    | 0.26%             | 2042-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Grand Forks ND                                                                    | City of Grand Forks                                                                         | CUSIP: 38546WDL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    985000 | PA      | $855612.86    | 0.24%             | 2039-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Grand Parkway Transportation Corp.                                                        | Grand Parkway Transportation Corp., Series 2018 A                                           | CUSIP: 38611TBQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    360000 | PA      | $368694.18    | 0.10%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greater Asheville Regional Airport Authority                                              | Greater Asheville Regional Airport Authority, Series 2022A                                  | CUSIP: 39160CAM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $346800.93    | 0.10%             | 2038-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Greater Asheville Regional Airport Authority                                              | Greater Asheville Regional Airport Authority                                                | CUSIP: 39160CBG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $348364.22    | 0.10%             | 2039-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Greater Orlando Aviation Authority                                                        | Greater Orlando Aviation Authority, Series 2015A                                            | CUSIP: 3922745F9<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |   1005000 | PA      | $1006351.02   | 0.28%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Guam Government Waterworks Authority                                                      | Guam Government Waterworks Authority                                                        | CUSIP: 40065FCH5<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |    300000 | PA      | $300139.53    | 0.08%             | 2046-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Guam Government Waterworks Authority                                                      | Guam Government Waterworks Authority                                                        | CUSIP: 40065FDE1<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |    380000 | PA      | $385402.42    | 0.11%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Territory of Guam                                                                         | Territory of Guam                                                                           | CUSIP: 40065HDU1<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |     60000 | PA      | $60629.45     | 0.02%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Territory of Guam                                                                         | Territory of Guam                                                                           | CUSIP: 40065HDV9<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |    175000 | PA      | $176323.51    | 0.05%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Territory of Guam                                                                         | Territory of Guam                                                                           | CUSIP: 40065NCR6<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |     30000 | PA      | $28924.76     | 0.01%             | 2042-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Gunnison County Housing Authority                                                         | Gunnison County Housing Authority, Series 2025                                              | CUSIP: 402884AJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1126294.70   | 0.31%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Hamilton OH                                                                     | County of Hamilton, Series 2023A                                                            | CUSIP: 40727RCJ5<br>LEI: 549300TO1E3N4E4YIO28 | Long             | DBT              | MUN               | US        |    750000 | PA      | $793877.10    | 0.22%             | 2038-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Hanover Area School District                                                              | Hanover Area School District, Series 2026                                                   | CUSIP: 411147NZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $266267.78    | 0.07%             | 2042-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hanover Area School District                                                              | Hanover Area School District, Series 2026                                                   | CUSIP: 411147PA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $158918.57    | 0.04%             | 2043-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Hawaii Airports System Revenue                                                   | State of Hawaii Airports System, Series 2025C                                               | CUSIP: 419794L34<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $841615.68    | 0.23%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Horace ND                                                                         | City of Horace, Series 2024B                                                                | CUSIP: 440365JC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $160056.19    | 0.04%             | 2026-08-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                                 | City of Houston, Series 2023A                                                               | CUSIP: 442349GK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1107290.00   | 0.31%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                                 | City of Houston, Series 2023A                                                               | CUSIP: 442349GP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    665000 | PA      | $717362.03    | 0.20%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                                 | City of Houston, Series 2024B                                                               | CUSIP: 442349HU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $537726.20    | 0.15%             | 2034-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                                 | City of Houston, Series 2024B                                                               | CUSIP: 442349HY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    545000 | PA      | $588744.70    | 0.16%             | 2038-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Idaho Health Facilities Authority                                                         | Idaho Health Facilities Authority, Series 2025 C                                            | CUSIP: 451295H69<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |    480000 | PA      | $529762.51    | 0.15%             | 2060-03-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Idaho Housing & Finance Association                                                       | Idaho Housing & Finance Association                                                         | CUSIP: 45129GDE2<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    735000 | PA      | $750442.35    | 0.21%             | 2039-07-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Idaho Housing & Finance Association                                                       | Idaho Housing & Finance Association, Series 2023A                                           | CUSIP: 45129GLA1<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    350000 | PA      | $364428.58    | 0.10%             | 2043-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Idaho Housing & Finance Association                                                       | Idaho Housing & Finance Association, Series 2024 A                                          | CUSIP: 45129GLK9<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    220000 | PA      | $225818.82    | 0.06%             | 2031-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Idaho Housing & Finance Association                                                       | Idaho Housing & Finance Association, Series 2024 A                                          | CUSIP: 45129GLL7<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    425000 | PA      | $430639.92    | 0.12%             | 2035-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                                | Illinois Finance Authority, Series 2019                                                     | CUSIP: 451889AT6<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100098.53    | 0.03%             | 2044-11-01      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                                | Illinois Finance Authority, Series 2020                                                     | CUSIP: 45203EAG4<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    250000 | PA      | $255162.68    | 0.07%             | 2040-05-01      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                                | Illinois Finance Authority                                                                  | CUSIP: 45203H5E8<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |     70000 | PA      | $69198.28     | 0.02%             | 2037-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                                | Illinois Finance Authority                                                                  | CUSIP: 45203KAN5<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1109050.03   | 0.31%             | 2037-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                                | Illinois Finance Authority, Series 2017                                                     | CUSIP: 45203PAD6<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    385000 | PA      | $397410.24    | 0.11%             | 2043-12-01      | Variable      | 4.80%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                                | Illinois Finance Authority, Series 2012                                                     | CUSIP: 45203PAE4<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    670000 | PA      | $691597.05    | 0.19%             | 2043-12-01      | Variable      | 4.80%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                                | Illinois Finance Authority, Series 2025A                                                    | CUSIP: 45204FK46<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    555000 | PA      | $564222.16    | 0.16%             | 2041-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                                | Illinois Finance Authority, Series 2025 B-2                                                 | CUSIP: 45204FM85<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    625000 | PA      | $693410.63    | 0.19%             | 2044-08-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                                | Illinois Finance Authority                                                                  | CUSIP: 45204FNC5<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |     21398 | PA      | $1069.89      | 0.00%             | 2027-05-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                                | Illinois Finance Authority, Series 2025 A3                                                  | CUSIP: 45204FQ73<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1651096.65   | 0.46%             | 2064-08-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                                | Illinois Finance Authority                                                                  | CUSIP: 45204FRQ0<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    655000 | PA      | $680096.00    | 0.19%             | 2032-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                                | Illinois Finance Authority                                                                  | CUSIP: 45204FSD8<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    855000 | PA      | $894343.17    | 0.25%             | 2030-05-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                                | Illinois Finance Authority, Series 2025A                                                    | CUSIP: 45204FT62<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    870000 | PA      | $939272.45    | 0.26%             | 2036-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                         | State of Illinois                                                                           | CUSIP: 4521526L0<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    150000 | PA      | $160504.02    | 0.04%             | 2039-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Indiana County Industrial Development Authority                                           | Indiana County Industrial Development Authority                                             | CUSIP: 45469NDZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    440000 | PA      | $476499.19    | 0.13%             | 2031-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana County Industrial Development Authority                                           | Indiana County Industrial Development Authority                                             | CUSIP: 45469NEA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $485240.27    | 0.13%             | 2032-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                                 | Indiana Finance Authority                                                                   | CUSIP: 45470EAF2<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    200000 | PA      | $200913.18    | 0.06%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                                 | Indiana Finance Authority, Series 2025D-5                                                   | CUSIP: 45470YGH8<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1108108.90   | 0.31%             | 2054-10-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                                 | Indiana Finance Authority                                                                   | CUSIP: 45471FAD3<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    800000 | PA      | $841004.80    | 0.23%             | 2038-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Secondary Market for Education Loans, Inc.                                        | Indiana Secondary Market for Education Loans, Inc.                                          | CUSIP: 45505NAH7<br>LEI: 549300M19IK303TD4597 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1056458.70   | 0.29%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Secondary Market for Education Loans, Inc.                                        | Indiana Secondary Market for Education Loans, Inc., Series 2025-1A                          | CUSIP: 45505NAS3<br>LEI: 549300M19IK303TD4597 | Long             | DBT              | MUN               | US        |   1090000 | PA      | $1055885.62   | 0.29%             | 2046-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                                 | Indiana Finance Authority, Series 2025B                                                     | CUSIP: 45506ENE9<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    530000 | PA      | $566005.76    | 0.16%             | 2035-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                                 | Indiana Finance Authority, Series 2025A                                                     | CUSIP: 45506ENK5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    120000 | PA      | $121653.04    | 0.03%             | 2029-05-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                                 | Indiana Finance Authority, Series 2025 A                                                    | CUSIP: 45506ENW9<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    780000 | PA      | $840992.02    | 0.23%             | 2036-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                                 | Indiana Finance Authority, Series 2025C-2                                                   | CUSIP: 45506EPE7<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100188.21    | 0.03%             | 2032-05-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Indianapolis Local Public Improvement Bond Bank                                           | Indianapolis Local Public Improvement Bond Bank, Series 2023E                               | CUSIP: 45528U6V8<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |    500000 | PA      | $543038.50    | 0.15%             | 2038-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Indianapolis Local Public Improvement Bond Bank                                           | Indianapolis Local Public Improvement Bond Bank, Series 2025 B-2                            | CUSIP: 45528VFY0<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   1130000 | PA      | $1262044.91   | 0.35%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Infirmary Health System Special Care Facilities Financing Authority of Mobile             | Infirmary Health System Special Care Facilities Financing Authority of Mobile               | CUSIP: 45663NBX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1110000 | PA      | $1112160.17   | 0.31%             | 2037-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Iowa Student Loan Liquidity Corp.                                                         | Iowa Student Loan Liquidity Corp.                                                           | CUSIP: 462590MT4<br>LEI: 549300FO1LWVSZKGJK70 | Long             | DBT              | MUN               | US        |    115000 | PA      | $91014.70     | 0.03%             | 2044-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Iowa Student Loan Liquidity Corp.                                                         | Iowa Student Loan Liquidity Corp., Series 2023 B                                            | CUSIP: 462590NY2<br>LEI: 549300FO1LWVSZKGJK70 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1243149.77   | 0.34%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Iowa Student Loan Liquidity Corp.                                                         | Iowa Student Loan Liquidity Corp., Series 2024B                                             | CUSIP: 462590PJ3<br>LEI: 549300FO1LWVSZKGJK70 | Long             | DBT              | MUN               | US        |    350000 | PA      | $378479.78    | 0.10%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Jackson TN                                                                        | City of Jackson                                                                             | CUSIP: 46874THA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $381554.69    | 0.11%             | 2041-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Jacksonville Housing Authority                                                            | Jacksonville Housing Authority, Series 2024                                                 | CUSIP: 46940XAJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1380000 | PA      | $1475844.45   | 0.41%             | 2034-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Jacksonville Public Educational Building Authority                                        | Jacksonville Public Educational Building Authority, Series 2024 A                           | CUSIP: 469480BQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1275000 | PA      | $1410361.91   | 0.39%             | 2037-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Jefferson AL Sewer Revenue                                                      | County of Jefferson                                                                         | CUSIP: 472682ZH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $820240.43    | 0.23%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Kalispell MT                                                                      | City of Kalispell, Series 2025B2                                                            | CUSIP: 48343AAC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    380000 | PA      | $381586.50    | 0.11%             | 2030-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Kansas Development Finance Authority                                                      | Kansas Development Finance Authority, Series MTEBS 2024 J-1                                 | CUSIP: 48542XAC5<br>LEI: 549300WTL7BL8KBDPR87 | Long             | DBT              | MUN               | US        |    179876 | PA      | $181873.97    | 0.05%             | 2041-11-01      | Fixed         | 4.17%                 | No            |                  2 | On Loan: No      |
| Kentucky Higher Education Student Loan Corp.                                              | Kentucky Higher Education Student Loan Corp.                                                | CUSIP: 49130NFM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $527979.05    | 0.15%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| King County Housing Authority                                                             | King County Housing Authority, Series 2025                                                  | CUSIP: 494759TA1<br>LEI: 549300TZU8KSWALVD392 | Long             | DBT              | MUN               | US        |    865000 | PA      | $908719.87    | 0.25%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Klickitat County Public Utility District No. 1                                            | Klickitat County Public Utility District No. 1, Series 2025                                 | CUSIP: 498622LH0<br>LEI: 549300D4CB0RTDWA5V46 | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1548334.04   | 0.43%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Knox County Health Educational & Housing Facility Board                                   | Knox County Health Educational & Housing Facility Board, Series 2024A-1                     | CUSIP: 499526AL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1068284.40   | 0.30%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Knox County Health Educational & Housing Facility Board                                   | Knox County Health Educational & Housing Facility Board, Series 2024 B-1                    | CUSIP: 499526BF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $309890.52    | 0.09%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Knox County Health Educational & Housing Facility Board                                   | Knox County Health Educational & Housing Facility Board                                     | CUSIP: 49952MCY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1004856.80   | 0.28%             | 2036-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Knox County Health Educational & Housing Facility Board                                   | Knox County Health Educational & Housing Facility Board                                     | CUSIP: 49952MEG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $756604.20    | 0.21%             | 2036-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lamar Consolidated Independent School District                                            | Lamar Consolidated Independent School District                                              | CUSIP: 513174G97<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $105259.61    | 0.03%             | 2037-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lancaster Municipal Authority                                                             | Lancaster Municipal Authority, Series 2025A                                                 | CUSIP: 514350AQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1585000 | PA      | $1601539.95   | 0.44%             | 2035-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Las Varas Public Facility Corp.                                                           | Las Varas Public Facility Corp., Series 2025                                                | CUSIP: 51766FAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    680000 | PA      | $682266.85    | 0.19%             | 2035-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| City of Lavon TX                                                                          | City of Lavon, Series 2025                                                                  | CUSIP: 51946PCJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    741000 | PA      | $750588.02    | 0.21%             | 2032-09-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| County of Lee FL Airport Revenue                                                          | County of Lee, Series 2024                                                                  | CUSIP: 523470HU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $389313.96    | 0.11%             | 2043-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Lee County Industrial Development Authority/FL                                            | Lee County Industrial Development Authority, Series 2024 B1                                 | CUSIP: 52349EER7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30194.80     | 0.01%             | 2029-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Lee County Industrial Development Authority/FL                                            | Lee County Industrial Development Authority, Series 2024B-2                                 | CUSIP: 52349EES5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $25132.01     | 0.01%             | 2029-11-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Lehigh County General Purpose Authority                                                   | Lehigh County General Purpose Authority, Series 2024                                        | CUSIP: 52480RGG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1033330.00   | 0.29%             | 2040-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port of Los Angeles                                                                       | Port of Los Angeles, Series 2024 A 2                                                        | CUSIP: 544552C83<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    780000 | PA      | $879387.68    | 0.24%             | 2036-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Housing Authority                                                             | Los Angeles Housing Authority, Series 2024 B                                                | CUSIP: 544562CQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     56737 | PA      | $57812.64     | 0.02%             | 2034-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Los Angeles Housing Authority                                                             | Los Angeles Housing Authority, Series 2024C                                                 | CUSIP: 544562CR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    141842 | PA      | $145018.17    | 0.04%             | 2034-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Los Angeles County Development Authority                                                  | Los Angeles County Development Authority                                                    | CUSIP: 54465JAC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    221000 | PA      | $222090.92    | 0.06%             | 2043-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisa Industrial Development Authority                                                   | Louisa Industrial Development Authority                                                     | CUSIP: 546068AX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     85000 | PA      | $86042.94     | 0.02%             | 2035-11-01      | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |
| Love Field Airport Modernization Corp.                                                    | Love Field Airport Modernization Corp., Series 2017                                         | CUSIP: 54714CBL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009725.00   | 0.28%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MFS Institutional Money Market Portfolio                                                  | MFS Institutional Money Market Portfolio, Class A                                           | CUSIP: 55291X109<br>LEI: 5L2W638H85N8T1136O07 | Long             | STIV             | RF                | US        |  17924561 | NS      | $17928146.36  | 4.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                             | Main Street Natural Gas, Inc.                                                               | CUSIP: 56035DEE8<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    500000 | PA      | $522893.85    | 0.14%             | 2052-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                             | Main Street Natural Gas, Inc.                                                               | CUSIP: 56035DEN8<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1054259.90   | 0.29%             | 2053-06-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                             | Main Street Natural Gas, Inc.                                                               | CUSIP: 56035DFK3<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    455000 | PA      | $484297.31    | 0.13%             | 2053-09-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                             | Main Street Natural Gas, Inc., Series 2024E                                                 | CUSIP: 56035DJJ2<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    500000 | PA      | $533347.45    | 0.15%             | 2055-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                             | Main Street Natural Gas, Inc., Series 2025 A                                                | CUSIP: 56035DJZ6<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    975000 | PA      | $1055820.09   | 0.29%             | 2055-06-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Finance Authority of Maine                                                                | Finance Authority of Maine, Series 2024                                                     | CUSIP: 56042CAY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100760.59    | 0.03%             | 2047-12-01      | Variable      | 4.62%                 | No            |                  2 | On Loan: No      |
| Finance Authority of Maine                                                                | Finance Authority of Maine, Series 2015R-3                                                  | CUSIP: 56042CAZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $412747.84    | 0.11%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maine Health & Higher Educational Facilities Authority                                    | Maine Health & Higher Educational Facilities Authority, Series 2017 B                       | CUSIP: 56042RMD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $502360.95    | 0.14%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Finance Authority of Maine                                                                | Finance Authority of Maine, Series CL A 2024A-1                                             | CUSIP: 56042TDS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    965000 | PA      | $1048173.64   | 0.29%             | 2031-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Finance Authority of Maine                                                                | Finance Authority of Maine, Series CL A SER 2025A1                                          | CUSIP: 56042TEP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    430000 | PA      | $449117.71    | 0.12%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Margaretta Local School District                                                          | Margaretta Local School District                                                            | CUSIP: 566575AL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $561128.95    | 0.16%             | 2036-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Margaretta Local School District                                                          | Margaretta Local School District                                                            | CUSIP: 566575AM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    355000 | PA      | $397209.22    | 0.11%             | 2037-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Maricopa County & Phoenix Industrial Development Authorities                              | Maricopa County & Phoenix Industrial Development Authorities, Series 2023 A                 | CUSIP: 566736EK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $306786.73    | 0.08%             | 2055-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Maricopa County Industrial Development Authority                                          | Maricopa County Industrial Development Authority, Series 2025A                              | CUSIP: 56681NJE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1066282.30   | 0.29%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maricopa County Pollution Control Corp.                                                   | Maricopa County Pollution Control Corp.                                                     | CUSIP: 566854EL5<br>LEI: 549300QPXP6T4Y6I1D83 | Long             | DBT              | MUN               | US        |     15000 | PA      | $14680.25     | 0.00%             | 2043-06-01      | Variable      | 0.88%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                                 | Maryland Health & Higher Educational Facilities Authority, Series 2025A                     | CUSIP: 57421CMH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $315361.83    | 0.09%             | 2044-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| State of Maryland Department of Transportation                                            | State of Maryland Department of Transportation, Series 2024 A                               | CUSIP: 57421FBK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1132111.50   | 0.31%             | 2034-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                                             | Massachusetts Educational Financing Authority                                               | CUSIP: 57563RTD1<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |    220000 | PA      | $218993.46    | 0.06%             | 2038-07-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                                             | Massachusetts Educational Financing Authority, Series 2024C                                 | CUSIP: 57563RUC1<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1079546.10   | 0.30%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                  | Massachusetts Development Finance Agency                                                    | CUSIP: 57584XKJ9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    990000 | PA      | $995843.38    | 0.28%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                  | Massachusetts Development Finance Agency                                                    | CUSIP: 57584XNM9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |     90000 | PA      | $88247.21     | 0.02%             | 2036-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                  | Massachusetts Development Finance Agency, Series 2023N                                      | CUSIP: 57584Y6D6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500341.20    | 0.14%             | 2036-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                  | Massachusetts Development Finance Agency                                                    | CUSIP: 57584YM30<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    100000 | PA      | $99897.36     | 0.03%             | 2026-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                  | Massachusetts Development Finance Agency, Series 2024A                                      | CUSIP: 57585BBR8<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $511262.50    | 0.14%             | 2034-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                  | Massachusetts Development Finance Agency, Series 2025                                       | CUSIP: 57585BJP4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1140000 | PA      | $1244199.31   | 0.34%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                  | Massachusetts Development Finance Agency, Series 2025 B                                     | CUSIP: 57585BKC1<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    270000 | PA      | $293261.23    | 0.08%             | 2055-08-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                      | Massachusetts Housing Finance Agency                                                        | CUSIP: 57587GSH9<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    415000 | PA      | $439398.93    | 0.12%             | 2052-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                      | Massachusetts Housing Finance Agency                                                        | CUSIP: 57587GUQ6<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000209.60   | 0.28%             | 2027-06-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| Matagorda County Navigation District No. 1                                                | Matagorda County Navigation District No. 1, Series 1996                                     | CUSIP: 576528DV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $520627.45    | 0.14%             | 2030-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Memorial City Redevelopment Authority                                                     | Memorial City Redevelopment Authority, Series 2025                                          | CUSIP: 58602FAW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1345000 | PA      | $1444023.34   | 0.40%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Memorial City Redevelopment Authority                                                     | Memorial City Redevelopment Authority, Series 2025                                          | CUSIP: 58602FAX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    645000 | PA      | $684288.11    | 0.19%             | 2041-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Memphis-Shelby County Industrial Development Board                                        | Memphis-Shelby County Industrial Development Board                                          | CUSIP: 58611YAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $94561.04     | 0.03%             | 2027-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Memphis-Shelby County Industrial Development Board                                        | Memphis-Shelby County Industrial Development Board                                          | CUSIP: 58611YAB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $75268.44     | 0.02%             | 2037-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Dallas Metrocare Services                                                                 | Dallas Metrocare Services, Series 2025                                                      | CUSIP: 59164FAS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1153307.10   | 0.32%             | 2044-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Nashville Metropolitan Development & Housing Agency                                       | Nashville Metropolitan Development & Housing Agency                                         | CUSIP: 591874AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $507910.15    | 0.14%             | 2036-06-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Metropolitan Government Nashville & Davidson County Health & Educational Facilities Bonds | Metropolitan Government Nashville & Davidson County Health & Educational Facilities Bonds   | CUSIP: 592041WA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $999966.30    | 0.28%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Nashville Airport Authority (The)                                            | Metropolitan Nashville Airport Authority (The)                                              | CUSIP: 592190QN5<br>LEI: 549300IC0HNF8TDXEE63 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1290924.45   | 0.36%             | 2033-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                                     | Metropolitan Transportation Authority                                                       | CUSIP: 59261AQH3<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    500000 | PA      | $502696.75    | 0.14%             | 2035-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority Aviation Revenue                               | Metropolitan Washington Airports Authority Aviation, Series 2025A                           | CUSIP: 592647NR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    960000 | PA      | $1086409.34   | 0.30%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade Seaport Department                                                   | County of Miami-Dade Seaport Department                                                     | CUSIP: 59335KET0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1077478.40   | 0.30%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                                | Michigan Finance Authority, Series 2025                                                     | CUSIP: 594479KF3<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    330000 | PA      | $368893.07    | 0.10%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                                | Michigan Finance Authority                                                                  | CUSIP: 59447T4A8<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    325000 | PA      | $326465.91    | 0.09%             | 2044-11-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan State Housing Development Authority                                              | Michigan State Housing Development Authority                                                | CUSIP: 594650UD3<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |    515000 | PA      | $516828.20    | 0.14%             | 2042-12-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| Michigan State Housing Development Authority                                              | Michigan State Housing Development Authority                                                | CUSIP: 594654SG1<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |    265000 | PA      | $279893.69    | 0.08%             | 2053-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Michigan State Hospital Finance Authority                                                 | Michigan State Hospital Finance Authority, Series SUB 2025B2                                | CUSIP: 59465HXF8<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |    945000 | PA      | $1074520.66   | 0.30%             | 2055-08-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan State Housing Development Authority                                              | Michigan State Housing Development Authority, Series 2024A                                  | CUSIP: 59465PEV6<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |    800000 | PA      | $800359.84    | 0.22%             | 2030-04-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Michigan Strategic Fund                                                                   | Michigan Strategic Fund, Series 2001                                                        | CUSIP: 59468PAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300739.74    | 0.08%             | 2027-08-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Michigan Strategic Fund                                                                   | Michigan Strategic Fund                                                                     | CUSIP: 594698QR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006885.40   | 0.28%             | 2035-06-30      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Michigan Strategic Fund                                                                   | Michigan Strategic Fund                                                                     | CUSIP: 594698TD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $980631.60    | 0.27%             | 2053-06-01      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| Middle-Income Housing Authority                                                           | Middle-Income Housing Authority, Series 2025A                                               | CUSIP: 595727AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $240445.80    | 0.07%             | 2035-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Middleton Community Development District A                                                | Middleton Community Development District A, Series 2024                                     | CUSIP: 596681AH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $104946.58    | 0.03%             | 2039-05-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Minnesota Office of Higher Education                                                      | Minnesota Office of Higher Education                                                        | CUSIP: 60416MCA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $967684.90    | 0.27%             | 2042-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Mirabelle Metropolitan District No. 2                                                     | Mirabelle Metropolitan District No. 2, Series 2025A                                         | CUSIP: 60458HAU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    720000 | PA      | $767258.50    | 0.21%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mission Economic Development Corp.                                                        | Mission Economic Development Corp., Series 2025                                             | CUSIP: 605155BW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    245000 | PA      | $253920.11    | 0.07%             | 2064-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                                              | Mississippi Development Bank                                                                | CUSIP: 60534TQH1<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |     65000 | PA      | $66066.94     | 0.02%             | 2040-12-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Mississippi Home Corp.                                                                    | Mississippi Home Corp., Series 2024 E                                                       | CUSIP: 60535QX54<br>LEI: 549300FFY35B829JR607 | Long             | DBT              | MUN               | US        |    125000 | PA      | $151235.88    | 0.04%             | 2044-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Missouri Development Finance Board                                                        | Missouri Development Finance Board                                                          | CUSIP: 60636SHL1<br>LEI: 549300JD8BCNBV9D3830 | Long             | DBT              | MUN               | US        |    150000 | PA      | $150243.93    | 0.04%             | 2026-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Missouri Development Finance Board                                                        | Missouri Development Finance Board, Series 2025A                                            | CUSIP: 60636SLU6<br>LEI: 549300JD8BCNBV9D3830 | Long             | DBT              | MUN               | US        |    285000 | PA      | $315128.12    | 0.09%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Missouri Housing Development Commission                                                   | Missouri Housing Development Commission, Series 2023 E                                      | CUSIP: 60637B7E4<br>LEI: 5493007FBL7WCV3NKY25 | Long             | DBT              | MUN               | US        |    270000 | PA      | $302886.70    | 0.08%             | 2054-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Monroe County Industrial Development Corp.                                                | Monroe County Industrial Development Corp., Series 2022                                     | CUSIP: 610758AA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    639908 | PA      | $677662.67    | 0.19%             | 2040-11-01      | Fixed         | 4.84%                 | No            |                  2 | On Loan: No      |
| Municipal Electric Authority of Georgia                                                   | Municipal Electric Authority of Georgia                                                     | CUSIP: 62620HGG1<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    250000 | PA      | $274936.93    | 0.08%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Municipal Electric Authority of Georgia                                                   | Municipal Electric Authority of Georgia                                                     | CUSIP: 62620HGH9<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    250000 | PA      | $273340.65    | 0.08%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Municipal Electric Authority of Georgia                                                   | Municipal Electric Authority of Georgia                                                     | CUSIP: 62620HGJ5<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    250000 | PA      | $271040.93    | 0.07%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Municipal Electric Authority of Georgia                                                   | Municipal Electric Authority of Georgia                                                     | CUSIP: 62620HGK2<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    500000 | PA      | $536587.65    | 0.15%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                                  | New Hampshire Business Finance Authority                                                    | CUSIP: 63607DAE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1248239 | PA      | $1286018.96   | 0.36%             | 2041-06-20      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                                  | New Hampshire Business Finance Authority                                                    | CUSIP: 63607WAC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    267298 | PA      | $272106.61    | 0.08%             | 2036-09-20      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                                  | New Hampshire Business Finance Authority                                                    | CUSIP: 63607WAQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    154943 | PA      | $155779.86    | 0.04%             | 2041-07-20      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                                  | New Hampshire Business Finance Authority                                                    | CUSIP: 63607WBD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    213598 | PA      | $211682.44    | 0.06%             | 2041-01-20      | Variable      | 4.17%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                                  | New Hampshire Business Finance Authority                                                    | CUSIP: 63607WBE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     99348 | PA      | $93305.41     | 0.03%             | 2041-01-20      | Variable      | 4.17%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                                  | New Hampshire Business Finance Authority, Series 2023C                                      | CUSIP: 63607YBK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30458.04     | 0.01%             | 2038-12-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                                  | New Hampshire Business Finance Authority, Series 2019 A-4                                   | CUSIP: 63608RAG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    855000 | PA      | $855637.66    | 0.24%             | 2038-08-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                                  | New Hampshire Business Finance Authority, Series 2024                                       | CUSIP: 63608TAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $99799.57     | 0.03%             | 2033-12-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                                  | New Hampshire Business Finance Authority, Series 2024                                       | CUSIP: 63608TAD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    156000 | PA      | $156054.60    | 0.04%             | 2030-12-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                                  | New Hampshire Business Finance Authority                                                    | CUSIP: 63610FBJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1070000 | PA      | $1153745.05   | 0.32%             | 2042-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                                  | New Hampshire Business Finance Authority, Series 2023A                                      | CUSIP: 63610TAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    915000 | PA      | $946228.86    | 0.26%             | 2038-12-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                                  | New Hampshire Business Finance Authority, Series 2023 B                                     | CUSIP: 63610TAB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     55000 | PA      | $55882.32     | 0.02%             | 2038-12-15      | Fixed         | 9.58%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                                  | New Hampshire Business Finance Authority, Series 2024A                                      | CUSIP: 63610TAC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    590000 | PA      | $605898.91    | 0.17%             | 2034-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                                  | New Hampshire Business Finance Authority, Series 2024B                                      | CUSIP: 63610TAD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $103532.14    | 0.03%             | 2034-05-15      | Fixed         | 8.33%                 | No            |                  2 | On Loan: No      |
| New Hampshire Health and Education Facilities Authority Act                               | New Hampshire Health and Education Facilities Authority Act, Series 2017 A                  | CUSIP: 64461XDZ5<br>LEI: 549300CNCK7OT82W5653 | Long             | DBT              | MUN               | US        |    255000 | PA      | $261717.49    | 0.07%             | 2038-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Health and Education Facilities Authority Act                               | New Hampshire Health and Education Facilities Authority Act, Series 2024 B                  | CUSIP: 64461XKK0<br>LEI: 549300CNCK7OT82W5653 | Long             | DBT              | MUN               | US        |    100000 | PA      | $108426.35    | 0.03%             | 2033-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Health and Education Facilities Authority Act                               | New Hampshire Health and Education Facilities Authority Act, Series 2024 B                  | CUSIP: 64461XKM6<br>LEI: 549300CNCK7OT82W5653 | Long             | DBT              | MUN               | US        |    110000 | PA      | $106562.43    | 0.03%             | 2044-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Health and Education Facilities Authority Act                               | New Hampshire Health and Education Facilities Authority Act, Series 2024                    | CUSIP: 64461XKZ7<br>LEI: 549300CNCK7OT82W5653 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1084646.30   | 0.30%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                                  | New Hampshire Business Finance Authority                                                    | CUSIP: 644684EN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $106866.60    | 0.03%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                                  | New Hampshire Business Finance Authority, Series 2025A                                      | CUSIP: 644684GX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $123696.33    | 0.03%             | 2035-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                                  | New Hampshire Business Finance Authority, Series 2025A                                      | CUSIP: 644684GZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    245000 | PA      | $271931.97    | 0.08%             | 2037-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                                  | New Hampshire Business Finance Authority, Series 2025A                                      | CUSIP: 644684HC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $315541.95    | 0.09%             | 2040-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| New Hampshire Housing Finance Authority                                                   | New Hampshire Housing Finance Authority, Series 2024 1                                      | CUSIP: 64469MTJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    490000 | PA      | $498629.78    | 0.14%             | 2044-07-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp.                                      | New Hope Cultural Education Facilities Finance Corp., Series 2020A                          | CUSIP: 64542UFG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $347576.25    | 0.10%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp.                                      | New Hope Cultural Education Facilities Finance Corp., Series 2025                           | CUSIP: 64542UGY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $639382.59    | 0.18%             | 2034-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp.                                      | New Hope Cultural Education Facilities Finance Corp., Series 2025                           | CUSIP: 64542UGZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $496593.42    | 0.14%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp.                                      | New Hope Cultural Education Facilities Finance Corp., Series 2025B-3                        | CUSIP: 64542UHK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    205000 | PA      | $205598.31    | 0.06%             | 2030-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp.                                      | New Hope Cultural Education Facilities Finance Corp., Series 2025                           | CUSIP: 64542UHX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    870000 | PA      | $915014.32    | 0.25%             | 2040-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                                 | New Jersey Economic Development Authority                                                   | CUSIP: 645780FT9<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    260000 | PA      | $263022.94    | 0.07%             | 2034-11-01      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                                 | New Jersey Economic Development Authority, Series 2025                                      | CUSIP: 64578TAA2<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    170000 | PA      | $175944.95    | 0.05%             | 2035-01-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                                 | New Jersey Economic Development Authority, Series 2025                                      | CUSIP: 645912FZ4<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    500000 | PA      | $539076.80    | 0.15%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Higher Education Student Assistance Authority                                  | New Jersey Higher Education Student Assistance Authority                                    | CUSIP: 646080WP2<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |    440000 | PA      | $437786.23    | 0.12%             | 2041-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Higher Education Student Assistance Authority                                  | New Jersey Higher Education Student Assistance Authority, Series 2024 B                     | CUSIP: 646080YA3<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1090991.70   | 0.30%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Finance Authority                                                              | New Mexico Finance Authority, Series 2025 A-2                                               | CUSIP: 64711PRZ5<br>LEI: 549300L6217Y7X40SP94 | Long             | DBT              | MUN               | US        |    600000 | PA      | $605017.08    | 0.17%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Mortgage Finance Authority                                                     | New Mexico Mortgage Finance Authority                                                       | CUSIP: 647201TX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     85000 | PA      | $89586.50     | 0.02%             | 2053-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Mexico Mortgage Finance Authority                                                     | New Mexico Mortgage Finance Authority                                                       | CUSIP: 647201VB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $498309.99    | 0.14%             | 2053-09-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp.                                                   | New York City Housing Development Corp., Series 2024 CL D                                   | CUSIP: 64966TGV0<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    100000 | PA      | $102606.33    | 0.03%             | 2031-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp.                                                   | New York City Housing Development Corp.                                                     | CUSIP: 64972E3D9<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    560000 | PA      | $560044.24    | 0.15%             | 2062-11-01      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp.                                                   | New York City Housing Development Corp., Series 2024 D-1                                    | CUSIP: 64972KFL4<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    625000 | PA      | $623300.75    | 0.17%             | 2044-11-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| New York State Energy Research & Development Authority                                    | New York State Energy Research & Development Authority                                      | CUSIP: 649845HY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    680000 | PA      | $703901.93    | 0.19%             | 2034-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Energy Research & Development Authority                                    | New York State Energy Research & Development Authority, Series 2004B                        | CUSIP: 649845JB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1220000 | PA      | $1248925.10   | 0.35%             | 2032-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Environmental Facilities Corp.                                             | New York State Environmental Facilities Corp.                                               | CUSIP: 649852AS9<br>LEI: 549300QJ33JJW73OQO60 | Long             | DBT              | MUN               | US        |    250000 | PA      | $251122.30    | 0.07%             | 2050-09-01      | Variable      | 4.25%                 | Yes           |                  2 | On Loan: No      |
| New York State Housing Finance Agency                                                     | New York State Housing Finance Agency                                                       | CUSIP: 64987JSF9<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |    595000 | PA      | $589878.42    | 0.16%             | 2060-11-01      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                                        | New York State Dormitory Authority, Series 2024 A                                           | CUSIP: 65000B4T2<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    375000 | PA      | $401076.49    | 0.11%             | 2040-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                                        | New York State Dormitory Authority, Series 2024                                             | CUSIP: 65000B7W2<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    560000 | PA      | $594252.40    | 0.16%             | 2044-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                                        | New York State Dormitory Authority, Series 2022 A                                           | CUSIP: 65000BLN6<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    500000 | PA      | $510169.35    | 0.14%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                                                 | New York Transportation Development Corp.                                                   | CUSIP: 650116CZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $253458.55    | 0.07%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                                                 | New York Transportation Development Corp.                                                   | CUSIP: 650116DM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    270000 | PA      | $288240.74    | 0.08%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                                                 | New York Transportation Development Corp., Series 2023                                      | CUSIP: 650116GP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    165000 | PA      | $173116.25    | 0.05%             | 2040-04-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                                                 | New York Transportation Development Corp., Series 2023                                      | CUSIP: 650116GT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $786429.68    | 0.22%             | 2041-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Norman Regional Hospital Authority                                                        | Norman Regional Hospital Authority                                                          | CUSIP: 656178DN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    355000 | PA      | $242943.36    | 0.07%             | 2037-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Housing Finance Agency                                                     | North Carolina Housing Finance Agency                                                       | CUSIP: 658207C52<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |    780000 | PA      | $692972.90    | 0.19%             | 2032-07-01      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                                    | North Carolina Medical Care Commission, Series 2024 A                                       | CUSIP: 65820YSV9<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    500000 | PA      | $522792.50    | 0.14%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                                    | North Carolina Medical Care Commission, Series 2024B-1                                      | CUSIP: 65820YSZ0<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |     65000 | PA      | $65027.38     | 0.02%             | 2028-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                                    | North Carolina Medical Care Commission, Series 2024 A                                       | CUSIP: 65820YTM8<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    900000 | PA      | $950535.36    | 0.26%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                                    | North Carolina Medical Care Commission, Series 2025                                         | CUSIP: 65820YUG9<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    250000 | PA      | $261811.43    | 0.07%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                                    | North Carolina Medical Care Commission, Series 2025                                         | CUSIP: 65820YUH7<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    330000 | PA      | $347519.50    | 0.10%             | 2037-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                                    | North Carolina Medical Care Commission, Series 2025                                         | CUSIP: 65820YUZ7<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    500000 | PA      | $519714.00    | 0.14%             | 2045-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                                    | North Carolina Medical Care Commission, Series 2025A                                        | CUSIP: 65820YVD5<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    535000 | PA      | $548367.62    | 0.15%             | 2045-10-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                                    | North Carolina Medical Care Commission, Series 2026 A                                       | CUSIP: 65820YVL7<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1547076.30   | 0.43%             | 2046-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                                    | North Carolina Medical Care Commission, Series 2021 A                                       | CUSIP: 65821DYA3<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    125000 | PA      | $128806.49    | 0.04%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                                    | North Carolina Medical Care Commission, Series 2021 A                                       | CUSIP: 65821DYC9<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    145000 | PA      | $147826.91    | 0.04%             | 2030-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina State Education Assistance Authority                                       | North Carolina State Education Assistance Authority, Series 2025A                           | CUSIP: 658262HC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1185000 | PA      | $1240817.29   | 0.34%             | 2045-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Turnpike Authority                                                         | North Carolina Turnpike Authority                                                           | CUSIP: 65830VAH3<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |    985000 | PA      | $549967.36    | 0.15%             | 2040-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| North Texas Higher Education Authority, Inc.                                              | North Texas Higher Education Authority, Inc., Series 2025A                                  | CUSIP: 66286UAK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $428542.60    | 0.12%             | 2033-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Texas Municipal Water District Water System Revenue                                 | North Texas Municipal Water District Water System, Series 2025                              | CUSIP: 662903J87<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1071421.40   | 0.30%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Northeastern Illinois University                                                          | Northeastern Illinois University                                                            | CUSIP: 66442RDL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $440285.76    | 0.12%             | 2037-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Ohio Housing Finance Agency                                                               | Ohio Housing Finance Agency, Series 2025A                                                   | CUSIP: 676900XN8<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |    250000 | PA      | $259551.30    | 0.07%             | 2043-08-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| County of Ohio WV                                                                         | County of Ohio, Series 2024                                                                 | CUSIP: 677321BS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $321832.32    | 0.09%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Ohio WV Special District Excise Tax Revenue                                     | County of Ohio, Series 2025A                                                                | CUSIP: 67732PEY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $457043.98    | 0.13%             | 2040-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ohio Higher Educational Facility Commission                                               | Ohio Higher Educational Facility Commission, Series 2023                                    | CUSIP: 677510BZ1<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |    200000 | PA      | $203481.14    | 0.06%             | 2036-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Ohio Air Quality Development Authority                                                    | Ohio Air Quality Development Authority                                                      | CUSIP: 677525WS2<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |    500000 | PA      | $507673.10    | 0.14%             | 2040-11-01      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| Ohio Air Quality Development Authority                                                    | Ohio Air Quality Development Authority                                                      | CUSIP: 677525WU7<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |    170000 | PA      | $172190.60    | 0.05%             | 2030-09-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Ohio Air Quality Development Authority                                                    | Ohio Air Quality Development Authority                                                      | CUSIP: 677525WV5<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |    145000 | PA      | $147265.45    | 0.04%             | 2039-11-01      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| Ohio Air Quality Development Authority                                                    | Ohio Air Quality Development Authority, Series 2014C                                        | CUSIP: 677525XB8<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |    810000 | PA      | $811932.98    | 0.22%             | 2027-12-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Ohio Higher Educational Facility Commission                                               | Ohio Higher Educational Facility Commission                                                 | CUSIP: 67756DD94<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |    600000 | PA      | $634785.30    | 0.18%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ohio Housing Finance Agency                                                               | Ohio Housing Finance Agency                                                                 | CUSIP: 67756Q2H9<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |    495000 | PA      | $523026.45    | 0.14%             | 2054-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| County of Okaloosa FL                                                                     | County of Okaloosa, Series 2025                                                             | CUSIP: 678226AA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1008760.50   | 0.28%             | 2035-05-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Oklahoma Housing Finance Agency                                                           | Oklahoma Housing Finance Agency, Series 2023D                                               | CUSIP: 67886MD55<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    465000 | PA      | $519858.98    | 0.14%             | 2054-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Oklahoma Turnpike Authority                                                               | Oklahoma Turnpike Authority, Series 2025B                                                   | CUSIP: 679111F41<br>LEI: 549300J83EP2PBDYH615 | Long             | DBT              | MUN               | US        |    325000 | PA      | $379900.30    | 0.10%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Omaha Airport Authority                                                                   | Omaha Airport Authority, Series 2024                                                        | CUSIP: 681725NA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1115737.00   | 0.31%             | 2036-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Orange County Health Facilities Authority                                                 | Orange County Health Facilities Authority                                                   | CUSIP: 68450LGL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1013935.10   | 0.28%             | 2036-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Oregon Coast Community College District                                                   | Oregon Coast Community College District, Series 2024                                        | CUSIP: 68583NCJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    380000 | PA      | $419587.91    | 0.12%             | 2041-06-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Oregon Health & Science University                                                        | Oregon Health & Science University                                                          | CUSIP: 685869EV7<br>LEI: 549300XTWOAGON8L2G98 | Long             | DBT              | MUN               | US        |    115000 | PA      | $110580.30    | 0.03%             | 2039-07-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Oregon State Facilities Authority                                                         | Oregon State Facilities Authority, Series A                                                 | CUSIP: 68607MAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    430000 | PA      | $454272.34    | 0.13%             | 2035-09-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| County of Owen KY                                                                         | County of Owen, Series 2020                                                                 | CUSIP: 69068WAD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $280678.94    | 0.08%             | 2040-06-01      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| Pacific County Public Healthcare Services District No. 3                                  | Pacific County Public Healthcare Services District No. 3, Series 2024                       | CUSIP: 694133CU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $552374.30    | 0.15%             | 2039-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| County of Palm Beach FL Airport System Revenue                                            | County of Palm Beach, Series 2024 B                                                         | CUSIP: 696499FS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $540686.85    | 0.15%             | 2042-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| County of Palm Beach FL Airport System Revenue                                            | County of Palm Beach, Series 2024 B                                                         | CUSIP: 696499FT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $535563.80    | 0.15%             | 2043-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| County of Palm Beach FL Airport System Revenue                                            | County of Palm Beach, Series 2024 B                                                         | CUSIP: 696499FU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $530657.10    | 0.15%             | 2044-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Palm Beach County Health Facilities Authority                                             | Palm Beach County Health Facilities Authority                                               | CUSIP: 696507VG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $229962.33    | 0.06%             | 2026-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Palm Beach County Health Facilities Authority                                             | Palm Beach County Health Facilities Authority                                               | CUSIP: 696507VH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $750462.60    | 0.21%             | 2031-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Palm Beach County Health Facilities Authority                                             | Palm Beach County Health Facilities Authority                                               | CUSIP: 69651ABT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $378990.61    | 0.10%             | 2033-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Palm Beach County Health Facilities Authority                                             | Palm Beach County Health Facilities Authority, Series 2025                                  | CUSIP: 69651ACP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    570000 | PA      | $628099.76    | 0.17%             | 2037-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| County of Palm Beach FL                                                                   | County of Palm Beach, Series 2025 A                                                         | CUSIP: 696547HU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $692278.31    | 0.19%             | 2035-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Park Creek Metropolitan District                                                          | Park Creek Metropolitan District, Series 2025                                               | CUSIP: 700385CG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1773732.91   | 0.49%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Parkdale Community Authority                                                              | Parkdale Community Authority, Series 2025A                                                  | CUSIP: 700890AP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    390000 | PA      | $426136.50    | 0.12%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Pasco FL                                                                        | County of Pasco                                                                             | CUSIP: 70252AAP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1125737.30   | 0.31%             | 2038-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Pasco Local Improvement District                                                          | Pasco Local Improvement District                                                            | CUSIP: 702562AN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    460000 | PA      | $500174.38    | 0.14%             | 2042-08-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Passaic County Improvement Authority (The)                                                | Passaic County Improvement Authority (The), Series 2025                                     | CUSIP: 70275QAK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $613816.44    | 0.17%             | 2033-07-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Patriots Energy Group Financing Agency                                                    | Patriots Energy Group Financing Agency, Series 2023 SUB B-1                                 | CUSIP: 70342PAR5<br>LEI: 5493008X0DFBVFH4HL19 | Long             | DBT              | MUN               | US        |    650000 | PA      | $702684.19    | 0.19%             | 2054-02-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Pawtucket RI                                                                      | City of Pawtucket, Series 2025 B                                                            | CUSIP: 7041655B1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $496777.77    | 0.14%             | 2040-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Pawtucket RI                                                                      | City of Pawtucket, Series 2025 B                                                            | CUSIP: 7041655C9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $601913.68    | 0.17%             | 2041-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pecos Barstow Toyah Independent School District                                           | Pecos Barstow Toyah Independent School District, Series 2023                                | CUSIP: 705227HN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1551744.84   | 0.43%             | 2038-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                                     | Pennsylvania Economic Development Financing Authority                                       | CUSIP: 70868YAJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1093560.10   | 0.30%             | 2033-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                                     | Pennsylvania Economic Development Financing Authority, Series 2022                          | CUSIP: 70868YAT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    775000 | PA      | $828222.74    | 0.23%             | 2042-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                                     | Pennsylvania Economic Development Financing Authority                                       | CUSIP: 70869PJW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $150939.36    | 0.04%             | 2028-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                                     | Pennsylvania Economic Development Financing Authority                                       | CUSIP: 70869PJY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    865000 | PA      | $867146.50    | 0.24%             | 2038-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                                     | Pennsylvania Economic Development Financing Authority                                       | CUSIP: 70869PLQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     85000 | PA      | $85379.39     | 0.02%             | 2034-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                                     | Pennsylvania Economic Development Financing Authority, Series 2023B-2                       | CUSIP: 70869PPD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1049721.20   | 0.29%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority Parking System Revenue              | Pennsylvania Economic Development Financing Authority Parking System, Series 2024 C         | CUSIP: 70870EFH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1105579.00   | 0.31%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                                     | Pennsylvania Economic Development Financing Authority, Series 2025A                         | CUSIP: 70870JGX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1035000 | PA      | $1141340.25   | 0.32%             | 2060-03-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Education Assistance Agency                                           | Pennsylvania Higher Education Assistance Agency                                             | CUSIP: 70878CAJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $203409.88    | 0.06%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Education Assistance Agency                                           | Pennsylvania Higher Education Assistance Agency                                             | CUSIP: 70878CAN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $4533.36      | 0.00%             | 2042-06-01      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Education Assistance Agency                                           | Pennsylvania Higher Education Assistance Agency, Series 2024-1A                             | CUSIP: 70878CBG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    631000 | PA      | $679395.11    | 0.19%             | 2033-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Education Assistance Agency                                           | Pennsylvania Higher Education Assistance Agency, Series 2025-1A                             | CUSIP: 70878CBS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $394825.64    | 0.11%             | 2046-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                                       | Pennsylvania Housing Finance Agency                                                         | CUSIP: 70879QSZ7<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |    490000 | PA      | $520676.89    | 0.14%             | 2053-10-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| City of Pensacola FL Airport Revenue                                                      | City of Pensacola, Series 2025                                                              | CUSIP: 709427FC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $718039.35    | 0.20%             | 2043-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                                         | Philadelphia Authority for Industrial Development                                           | CUSIP: 71780CBN9<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    100000 | PA      | $103615.16    | 0.03%             | 2032-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia PA Airport Revenue                                                   | City of Philadelphia, Series 2017 B                                                         | CUSIP: 717817UK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    775000 | PA      | $788570.64    | 0.22%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia Housing Authority                                                            | Philadelphia Housing Authority, Series 2017                                                 | CUSIP: 71783PAR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    355000 | PA      | $365685.15    | 0.10%             | 2039-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| School District of Philadelphia (The)                                                     | School District of Philadelphia (The), Series 2023 A                                        | CUSIP: 717883ZZ8<br>LEI: 254900HSKDHZKBZCUL90 | Long             | DBT              | MUN               | US        |    410000 | PA      | $460789.53    | 0.13%             | 2038-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Industrial Development Authority of the City of Phoenix Arizona (The)                     | Industrial Development Authority of the City of Phoenix Arizona (The), Series 2013          | CUSIP: 71884RAA0<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1599980.64   | 0.44%             | 2035-12-01      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| Industrial Development Authority of the City of Phoenix Arizona (The)                     | Industrial Development Authority of the City of Phoenix Arizona (The)                       | CUSIP: 71885DCR1<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |    200000 | PA      | $201278.48    | 0.06%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Industrial Development Authority of the County of Pima (The)                              | Industrial Development Authority of the County of Pima (The), Series 2023B                  | CUSIP: 721905QE0<br>LEI: 549300QDTQ25545R4K19 | Long             | DBT              | MUN               | US        |    330000 | PA      | $366403.59    | 0.10%             | 2055-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Plaza at Noah's Ark Community Improvement District                                        | Plaza at Noah's Ark Community Improvement District                                          | CUSIP: 72813LAL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $124509.35    | 0.03%             | 2026-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| City of Pompano Beach FL                                                                  | City of Pompano Beach, Series 2015                                                          | CUSIP: 732203AT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $800345.52    | 0.22%             | 2039-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Pompano Beach FL                                                                  | City of Pompano Beach                                                                       | CUSIP: 732203BC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $95021.66     | 0.03%             | 2040-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Pompano Beach FL                                                                  | City of Pompano Beach                                                                       | CUSIP: 732203BF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $547277.78    | 0.15%             | 2036-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Poplar Bluff Regional Transportation Development District Sales Tax Revenue               | Poplar Bluff Regional Transportation Development District Sales Tax                         | CUSIP: 733060AH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $49724.74     | 0.01%             | 2031-12-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Port Authority of Houston of Harris County Texas                                          | Port Authority of Houston of Harris County Texas                                            | CUSIP: 734262FT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023613.40   | 0.28%             | 2038-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Port of Portland OR Airport Revenue                                                       | Port of Portland, Series THIRTY A                                                           | CUSIP: 7352404B6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $545288.10    | 0.15%             | 2041-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Port of Seattle WA                                                                        | Port of Seattle, Series 2018A                                                               | CUSIP: 735389D47<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |    750000 | PA      | $767159.55    | 0.21%             | 2033-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Princeton TX                                                                      | City of Princeton, Series 2024                                                              | CUSIP: 742400CM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $494768.25    | 0.14%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Private Colleges & Universities Authority                                                 | Private Colleges & Universities Authority                                                   | CUSIP: 74265LT81<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    985000 | PA      | $994048.31    | 0.27%             | 2039-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                                  | Public Finance Authority, Series 2024 A                                                     | CUSIP: 74439YEW7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1181422.11   | 0.33%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                                  | Public Finance Authority, Series 2025B                                                      | CUSIP: 74439YFW6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    185000 | PA      | $195344.13    | 0.05%             | 2030-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                                  | Public Finance Authority, Series 2025B                                                      | CUSIP: 74439YFX4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    175000 | PA      | $191368.29    | 0.05%             | 2035-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                                  | Public Finance Authority, Series 2025 A                                                     | CUSIP: 74439YGE5<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    855000 | PA      | $919313.36    | 0.25%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                                          | Kentucky Public Energy Authority, Series 2025B                                              | CUSIP: 74440DFQ2<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   1415000 | PA      | $1466902.62   | 0.41%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                                  | Public Finance Authority, Series 2025                                                       | CUSIP: 74441XJG5<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    770000 | PA      | $803494.15    | 0.22%             | 2067-07-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                                  | Public Finance Authority                                                                    | CUSIP: 74442EKK5<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1155146.63   | 0.32%             | 2032-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                                  | Public Finance Authority, Series 2024A                                                      | CUSIP: 74442EMD9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $944095.30    | 0.26%             | 2039-07-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Public Finance Authority                                                                  | Public Finance Authority, Series 2025A                                                      | CUSIP: 74442ENQ9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    695000 | PA      | $727101.22    | 0.20%             | 2035-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                                  | Public Finance Authority, Series 2025 A                                                     | CUSIP: 74442ENV8<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    750000 | PA      | $748520.93    | 0.21%             | 2033-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                                  | Public Finance Authority, Series 2015                                                       | CUSIP: 74442PAU9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    155000 | PA      | $155000.09    | 0.04%             | 2045-04-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                                  | Public Finance Authority, Series 2025                                                       | CUSIP: 74442PJ55<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    335000 | PA      | $368198.50    | 0.10%             | 2034-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                                  | Public Finance Authority, Series 2025                                                       | CUSIP: 74442PJ71<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    435000 | PA      | $472581.65    | 0.13%             | 2036-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                                  | Public Finance Authority, Series 2025                                                       | CUSIP: 74442PL78<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    141000 | PA      | $72360.47     | 0.02%             | 2037-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                                  | Public Finance Authority                                                                    | CUSIP: 74442PZC2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1204052.85   | 0.33%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                                  | Public Finance Authority                                                                    | CUSIP: 74442PZG3<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    315000 | PA      | $335974.12    | 0.09%             | 2037-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                                  | Public Finance Authority                                                                    | CUSIP: 74443CAB9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |     90000 | PA      | $90078.27     | 0.02%             | 2028-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                                  | Public Finance Authority, Series 2017A                                                      | CUSIP: 74443UAW3<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    250000 | PA      | $252778.63    | 0.07%             | 2030-05-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Public Finance Authority                                                                  | Public Finance Authority                                                                    | CUSIP: 74444UAT9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    670000 | PA      | $734477.58    | 0.20%             | 2037-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                                  | Public Finance Authority                                                                    | CUSIP: 74444VBL3<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    535000 | PA      | $550998.59    | 0.15%             | 2030-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                                  | Public Finance Authority                                                                    | CUSIP: 74446EAA4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    105000 | PA      | $84000.00     | 0.02%             | 2027-08-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Public Finance Authority                                                                  | Public Finance Authority                                                                    | CUSIP: 74448FAA9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    305000 | PA      | $314536.95    | 0.09%             | 2036-04-28      | Fixed         | 6.81%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                                  | Public Finance Authority                                                                    | CUSIP: 74448FAC5<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    605000 | PA      | $612520.63    | 0.17%             | 2039-09-25      | Fixed         | 4.10%                 | Yes           |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                               | Commonwealth of Puerto Rico                                                                 | CUSIP: 74514L3H8<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    292016 | PA      | $309411.89    | 0.09%             | 2029-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                               | Commonwealth of Puerto Rico                                                                 | CUSIP: 74514L3J4<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |     40810 | PA      | $44834.07     | 0.01%             | 2031-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                               | Commonwealth of Puerto Rico                                                                 | CUSIP: 74514L3K1<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |     38698 | PA      | $38686.51     | 0.01%             | 2033-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                               | Commonwealth of Puerto Rico                                                                 | CUSIP: 74514L3M7<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |     29854 | PA      | $28940.37     | 0.01%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                               | Commonwealth of Puerto Rico                                                                 | CUSIP: 74514L3N5<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |     40591 | PA      | $37530.23     | 0.01%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                               | Commonwealth of Puerto Rico                                                                 | CUSIP: 74514L3P0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |     42214 | PA      | $36829.58     | 0.01%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                               | Commonwealth of Puerto Rico                                                                 | CUSIP: 74514L3R6<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |     49801 | PA      | $36038.21     | 0.01%             | 2033-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                               | Commonwealth of Puerto Rico                                                                 | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    149061 | PA      | $95398.94     | 0.03%             | 2043-11-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                      | Puerto Rico Electric Power Authority                                                        | CUSIP: 74526QKX9<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    130000 | PA      | $86775.00     | 0.02%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                      | Puerto Rico Electric Power Authority                                                        | CUSIP: 74526QXN7<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |     70000 | PA      | $46725.00     | 0.01%             | 2023-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                      | Puerto Rico Electric Power Authority                                                        | CUSIP: 74526QZM7<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    100000 | PA      | $66750.00     | 0.02%             | 2021-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                      | Puerto Rico Electric Power Authority                                                        | CUSIP: 74526QZN5<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    165000 | PA      | $110137.50    | 0.03%             | 2022-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                      | Puerto Rico Electric Power Authority                                                        | CUSIP: 74526QZZ8<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    260000 | PA      | $173550.00    | 0.05%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                      | Puerto Rico Electric Power Authority, Series VV                                             | CUSIP: 74526YGW9<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |     10000 | PA      | $10141.15     | 0.00%             | 2034-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                                   | Puerto Rico Sales Tax Financing Corp. Sales Tax                                             | CUSIP: 74529JPV1<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |     23000 | PA      | $23008.53     | 0.01%             | 2040-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                                   | Puerto Rico Sales Tax Financing Corp. Sales Tax                                             | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |     20000 | PA      | $18851.27     | 0.01%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                                   | Puerto Rico Sales Tax Financing Corp. Sales Tax                                             | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    164000 | PA      | $157891.85    | 0.04%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                                   | Puerto Rico Sales Tax Financing Corp. Sales Tax                                             | CUSIP: 74529JQE8<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    597000 | PA      | $490476.51    | 0.14%             | 2031-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                                   | Puerto Rico Sales Tax Financing Corp. Sales Tax                                             | CUSIP: 74529JRK3<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |      1000 | PA      | $905.80       | 0.00%             | 2053-07-01      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                                   | Puerto Rico Sales Tax Financing Corp. Sales Tax                                             | CUSIP: 74529JRL1<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |     39000 | PA      | $36411.66     | 0.01%             | 2058-07-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| Rhode Island Housing & Mortgage Finance Corp.                                             | Rhode Island Housing & Mortgage Finance Corp.                                               | CUSIP: 76221R4E0<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |    585000 | PA      | $618121.06    | 0.17%             | 2052-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Rhode Island Health and Educational Building Corp.                                        | Rhode Island Health and Educational Building Corp., Series 2025A                            | CUSIP: 762244NX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023271.00   | 0.28%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rhode Island Student Loan Authority                                                       | Rhode Island Student Loan Authority                                                         | CUSIP: 762323CP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    680000 | PA      | $668043.56    | 0.18%             | 2042-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Rhode Island Student Loan Authority                                                       | Rhode Island Student Loan Authority, Series 2024 A                                          | CUSIP: 762323DC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1015000 | PA      | $1093619.36   | 0.30%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rhode Island Student Loan Authority                                                       | Rhode Island Student Loan Authority, Series 2024B                                           | CUSIP: 762323DL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $135675.75    | 0.04%             | 2043-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Rhode Island Student Loan Authority                                                       | Rhode Island Student Loan Authority, Series 2025A                                           | CUSIP: 762323DS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1078247.40   | 0.30%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rock Island County School District No. 41 Rock Island/Milan                               | Rock Island County School District No. 41 Rock Island, Series 2025 A                        | CUSIP: 772436GD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1058258.40   | 0.29%             | 2043-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rum River Special Education Cooperative                                                   | Rum River Special Education Cooperative                                                     | CUSIP: 781378AA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1062680.80   | 0.29%             | 2035-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rutherford County Health & Educational Facilities Board                                   | Rutherford County Health & Educational Facilities Board, Series 2025A-1                     | CUSIP: 78324AAH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $319381.77    | 0.09%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| St. Clair County Community Unit School District No. 187 Cahokia                           | St. Clair County Community Unit School District No. 187 Cahokia, Series 2024A               | CUSIP: 788550LV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30635.58     | 0.01%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| St. Clair County Community Unit School District No. 187 Cahokia                           | St. Clair County Community Unit School District No. 187 Cahokia, Series 2024A               | CUSIP: 788550MF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $127264.37    | 0.04%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| St Johns County Industrial Development Authority                                          | St Johns County Industrial Development Authority                                            | CUSIP: 79041LAF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    190000 | PA      | $189598.00    | 0.05%             | 2026-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Salt Lake City UT Airport Revenue                                                 | City of Salt Lake City, Series 2023A                                                        | CUSIP: 795576LU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1108551.80   | 0.31%             | 2037-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Airport Comm-San Francisco International Airport              | San Francisco City & County Airport Comm-San Francisco International Airport, Series 2023 C | CUSIP: 79766DVR7<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |    750000 | PA      | $853122.75    | 0.24%             | 2037-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Airport Comm-San Francisco International Airport              | San Francisco City & County Airport Comm-San Francisco International Airport, Series 2024 A | CUSIP: 79766DWG0<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |     90000 | PA      | $95947.76     | 0.03%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Airport Comm-San Francisco International Airport              | San Francisco City & County Airport Comm-San Francisco International Airport, Series 2024 A | CUSIP: 79766DWH8<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |    240000 | PA      | $260095.10    | 0.07%             | 2030-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Airport Comm-San Francisco International Airport              | San Francisco City & County Airport Comm-San Francisco International Airport, Series 2024 A | CUSIP: 79766DWR6<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1091730.00   | 0.30%             | 2039-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Savannah Georgia Convention Center Authority                                              | Savannah Georgia Convention Center Authority, Series 2025A                                  | CUSIP: 804828AA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $537472.20    | 0.15%             | 2040-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Savannah Georgia Convention Center Authority                                              | Savannah Georgia Convention Center Authority, Series 2025B                                  | CUSIP: 804828AD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    865000 | PA      | $884459.91    | 0.24%             | 2040-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Shelby County Health Educational & Housing Facilities Board                               | Shelby County Health Educational & Housing Facilities Board                                 | CUSIP: 82169JAP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $483274.77    | 0.13%             | 2049-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Shreveport LA                                                                     | City of Shreveport, Series 2024                                                             | CUSIP: 8254346K4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1072624.90   | 0.30%             | 2041-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Shreveport LA Water & Sewer Revenue                                               | City of Shreveport, Series 2025                                                             | CUSIP: 825485YJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1634935.65   | 0.45%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sierra Vista Industrial Development Authority                                             | Sierra Vista Industrial Development Authority, Series 2023                                  | CUSIP: 82652UAC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $507169.80    | 0.14%             | 2038-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                                        | South Carolina Jobs-Economic Development Authority, Series 2025                             | CUSIP: 837031H63<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    100000 | PA      | $102147.25    | 0.03%             | 2062-03-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                                        | South Carolina Jobs-Economic Development Authority, Series 2025                             | CUSIP: 837031J53<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $993873.20    | 0.27%             | 2046-04-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                                        | South Carolina Jobs-Economic Development Authority, Series 2025 A                           | CUSIP: 837033KV0<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1044417.10   | 0.29%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                                        | South Carolina Jobs-Economic Development Authority, Series 2025C                            | CUSIP: 837036GB2<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    665000 | PA      | $704200.35    | 0.19%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                                        | South Carolina Jobs-Economic Development Authority, Series 2025 A                           | CUSIP: 837036HE5<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003663.30   | 0.28%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                                        | South Carolina Jobs-Economic Development Authority, Series 2025B-2                          | CUSIP: 83703EMU6<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    410000 | PA      | $455649.73    | 0.13%             | 2049-11-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                                        | South Carolina Jobs-Economic Development Authority                                          | CUSIP: 83703FJN3<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $973845.60    | 0.27%             | 2047-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                                        | South Carolina Jobs-Economic Development Authority                                          | CUSIP: 83704CAX6<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    280000 | PA      | $281400.78    | 0.08%             | 2038-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                                        | South Carolina Jobs-Economic Development Authority, Series 2025                             | CUSIP: 83704NAB0<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $992620.30    | 0.27%             | 2035-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| South Jersey Transportation Authority                                                     | South Jersey Transportation Authority                                                       | CUSIP: 838536MH0<br>LEI: 549300W8SZI2CAOKT956 | Long             | DBT              | MUN               | US        |    375000 | PA      | $415368.83    | 0.11%             | 2037-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeast Alabama Gas Supply District (The)                                               | Southeast Alabama Gas Supply District (The), Series 2024 B                                  | CUSIP: 84131TBT8<br>LEI: 549300BL04JIB2GJZ178 | Long             | DBT              | MUN               | US        |    500000 | PA      | $536477.25    | 0.15%             | 2049-06-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                         | Southeast Energy Authority A Cooperative District                                           | CUSIP: 84136FAV9<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    750000 | PA      | $757582.88    | 0.21%             | 2051-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                         | Southeast Energy Authority A Cooperative District                                           | CUSIP: 84136FBL0<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    215000 | PA      | $230479.72    | 0.06%             | 2053-01-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                         | Southeast Energy Authority A Cooperative District                                           | CUSIP: 84136FBT3<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1053678.50   | 0.29%             | 2054-01-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                         | Southeast Energy Authority A Cooperative District, Series 2024C                             | CUSIP: 84136HAH6<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1230000 | PA      | $1328867.65   | 0.37%             | 2055-10-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                         | Southeast Energy Authority A Cooperative District, Series 2024A                             | CUSIP: 84136HAU7<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    515000 | PA      | $546831.43    | 0.15%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southern California Public Power Authority                                                | Southern California Public Power Authority, Series 2024 A                                   | CUSIP: 84247PND9<br>LEI: 5493003B5TD5FWUKMD34 | Long             | DBT              | MUN               | US        |    190000 | PA      | $201820.11    | 0.06%             | 2055-04-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Southern Ute Indian Tribe of the Southern Ute Reservation of Colorado                     | Southern Ute Indian Tribe of the Southern Ute Reservation of Colorado, Series 2025 A        | CUSIP: 844090AD2<br>LEI: 549300X0RZRBWLO0J697 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1369180.00   | 0.38%             | 2035-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sparks Tourism Improvement District No. 1                                                 | Sparks Tourism Improvement District No. 1, Series 2025                                      | CUSIP: 846562AF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001199.00   | 0.28%             | 2028-06-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| County of Spokane WA Airport Revenue                                                      | County of Spokane, Series 2024 B                                                            | CUSIP: 848661JT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1115000 | PA      | $1164778.28   | 0.32%             | 2044-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Industrial Development Authority of the City of St Louis Missouri (The)                   | Industrial Development Authority of the City of St Louis Missouri (The), Series 2024A       | CUSIP: 85237JAA2<br>LEI: 549300WTUL8KX1FOUZ40 | Long             | DBT              | MUN               | US        |    335000 | PA      | $342314.83    | 0.09%             | 2034-06-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Stamford Housing Authority                                                                | Stamford Housing Authority, Series 2025 D                                                   | CUSIP: 852640AC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    470000 | PA      | $474816.61    | 0.13%             | 2030-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| STC Metropolitan District No. 2                                                           | STC Metropolitan District No. 2, Series 2025A-1                                             | CUSIP: 85780TAW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1285000 | PA      | $1393511.57   | 0.39%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Steel Valley School District                                                              | Steel Valley School District, Series 2024                                                   | CUSIP: 858151MR1<br>LEI: 549300BYA5FSMYFPGP34 | Long             | DBT              | MUN               | US        |    650000 | PA      | $708486.42    | 0.20%             | 2039-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Steel Valley School District                                                              | Steel Valley School District, Series 2024                                                   | CUSIP: 858151MS9<br>LEI: 549300BYA5FSMYFPGP34 | Long             | DBT              | MUN               | US        |    845000 | PA      | $908683.34    | 0.25%             | 2040-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sterling Ranch Community Authority Board                                                  | Sterling Ranch Community Authority Board, Series 2025A                                      | CUSIP: 85950NBW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $266068.88    | 0.07%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tazewell County School District No. 52 Washington                                         | Tazewell County School District No. 52 Washington, Series 2025                              | CUSIP: 877690EH6<br>LEI: 549300QOXDTJ5PAYVW27 | Long             | DBT              | MUN               | US        |    225000 | PA      | $267187.25    | 0.07%             | 2042-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Tempe Industrial Development Authority                                                    | Tempe Industrial Development Authority                                                      | CUSIP: 87972MBK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    245000 | PA      | $245117.75    | 0.07%             | 2026-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tempe Industrial Development Authority                                                    | Tempe Industrial Development Authority                                                      | CUSIP: 87972MBX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002903.00   | 0.28%             | 2036-12-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Tennergy Corp.                                                                            | Tennergy Corp.                                                                              | CUSIP: 880397CF9<br>LEI: 5493008K3JJFBSC4C235 | Long             | DBT              | MUN               | US        |    685000 | PA      | $734744.63    | 0.20%             | 2053-10-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Tennessee Energy Acquisition Corp.                                                        | Tennessee Energy Acquisition Corp.                                                          | CUSIP: 880443EE2<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |     80000 | PA      | $80797.27     | 0.02%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tennessee Energy Acquisition Corp.                                                        | Tennessee Energy Acquisition Corp.                                                          | CUSIP: 880443JF4<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |    750000 | PA      | $771072.83    | 0.21%             | 2053-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Tennessee Energy Acquisition Corp.                                                        | Tennessee Energy Acquisition Corp., Series 2025A                                            | CUSIP: 880443JM9<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |    750000 | PA      | $806467.20    | 0.22%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tennessee Housing Development Agency                                                      | Tennessee Housing Development Agency                                                        | CUSIP: 880461XD5<br>LEI: 25490004PSQYQLFJGI76 | Long             | DBT              | MUN               | US        |    645000 | PA      | $628393.12    | 0.17%             | 2043-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Texas Municipal Power Agency                                                              | Texas Municipal Power Agency, Series 2025                                                   | CUSIP: 882555C78<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    435000 | PA      | $470883.98    | 0.13%             | 2045-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Texas Municipal Gas Acquisition & Supply Corp. VI                                         | Texas Municipal Gas Acquisition & Supply Corp. VI, Series 2025                              | CUSIP: 88256FAK8<br>LEI: 254900OCOQCKZZ4U6C83 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1605258.60   | 0.44%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas Municipal Gas Acquisition & Supply Corp. IV                                         | Texas Municipal Gas Acquisition & Supply Corp. IV, Series 2023B                             | CUSIP: 88256PAT7<br>LEI: 549300PTUE847QDBBW22 | Long             | DBT              | MUN               | US        |    930000 | PA      | $1033769.03   | 0.29%             | 2054-01-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Texas Private Activity Bond Surface Transportation Corp.                                  | Texas Private Activity Bond Surface Transportation Corp., Series 2023                       | CUSIP: 882667CG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $185613.59    | 0.05%             | 2038-06-30      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Texas Private Activity Bond Surface Transportation Corp.                                  | Texas Private Activity Bond Surface Transportation Corp., Series 2023                       | CUSIP: 882667CJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    635000 | PA      | $672025.33    | 0.19%             | 2040-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Texas Department of Housing & Community Affairs                                           | Texas Department of Housing & Community Affairs, Series 2025A                               | CUSIP: 882750D33<br>LEI: 549300J3RRLLZZN4WP77 | Long             | DBT              | MUN               | US        |   1240000 | PA      | $1367839.04   | 0.38%             | 2056-01-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Texas Public Finance Authority                                                            | Texas Public Finance Authority                                                              | CUSIP: 8827568B8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $75413.55     | 0.02%             | 2033-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Texas Public Finance Authority                                                            | Texas Public Finance Authority                                                              | CUSIP: 88277PAE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $125582.95    | 0.03%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas Public Finance Authority                                                            | Texas Public Finance Authority, Series 2023                                                 | CUSIP: 88277PAV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1139128.90   | 0.31%             | 2034-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Toll Road Investors Partnership II LP                                                     | Toll Road Investors Partnership II LP                                                       | CUSIP: 88948ABD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $433112.66    | 0.12%             | 2028-02-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Toll Road Investors Partnership II LP                                                     | Toll Road Investors Partnership II LP                                                       | CUSIP: 88948ABM8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    219865 | PA      | $75589.73     | 0.02%             | 2043-02-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| City of Topeka KS                                                                         | City of Topeka, Kansas Health Care Facilities                                               | CUSIP: 890585BR2<br>LEI: 549300NFEU1XBKVICM54 | Long             | DBT              | MUN               | US        |    675000 | PA      | $702681.89    | 0.19%             | 2033-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Travis County Housing Finance Corp.                                                       | Travis County Housing Finance Corp.                                                         | CUSIP: 89438UBM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    335000 | PA      | $335669.46    | 0.09%             | 2045-06-01      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| County of Trimble KY                                                                      | County of Trimble, Series 2023A                                                             | CUSIP: 896221AE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $211580.50    | 0.06%             | 2054-06-01      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| County of Trimble KY                                                                      | County of Trimble, Series 2023 A                                                            | CUSIP: 896221AF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    345000 | PA      | $347596.54    | 0.10%             | 2054-06-01      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| Tulsa County Home Finance Authority                                                       | Tulsa County Home Finance Authority, Series 2025A                                           | CUSIP: 899517JU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $964454.05    | 0.27%             | 2056-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Tulsa Municipal Airport Trust Trustees/OK                                                 | Tulsa Municipal Airport Trust Trustees, Series 2025                                         | CUSIP: 899661EM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $572482.50    | 0.16%             | 2035-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Utah Housing Corp.                                                                        | Utah Housing Corp., Series 2024A                                                            | CUSIP: 917437EP6<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |    100000 | PA      | $108787.73    | 0.03%             | 2054-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Utah Housing Corp.                                                                        | Utah Housing Corp.                                                                          | CUSIP: 91743PEH4<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |    589899 | PA      | $603389.80    | 0.17%             | 2052-09-21      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Utah Charter School Finance Authority                                                     | Utah Charter School Finance Authority, Series 2025                                          | CUSIP: 91754T5S8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $448604.03    | 0.12%             | 2040-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Vancouver Housing Authority                                                               | Vancouver Housing Authority, Series 2024                                                    | CUSIP: 921626PT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    880000 | PA      | $876290.71    | 0.24%             | 2034-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Vancouver Housing Authority                                                               | Vancouver Housing Authority, Series 2024 A                                                  | CUSIP: 92162PAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $224671.83    | 0.06%             | 2034-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Venice FL                                                                         | City of Venice, Series 2024 B-2                                                             | CUSIP: 922687AG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $130263.90    | 0.04%             | 2030-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Vermont Student Assistance Corp.                                                          | Vermont Student Assistance Corp.                                                            | CUSIP: 92428CMV3<br>LEI: 549300VHYVRSKNFRSZ91 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1080180.00   | 0.30%             | 2032-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Vermont Student Assistance Corp.                                                          | Vermont Student Assistance Corp.                                                            | CUSIP: 92428CNA8<br>LEI: 549300VHYVRSKNFRSZ91 | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1836306.00   | 0.51%             | 2032-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Village Community Development District No. 15                                             | Village Community Development District No. 15                                               | CUSIP: 92708KAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1038179.50   | 0.29%             | 2033-05-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Village Community Development District No. 15                                             | Village Community Development District No. 15, Series 2024                                  | CUSIP: 92708KAF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100601.70    | 0.03%             | 2029-05-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Virginia Beach Development Authority                                                      | Virginia Beach Development Authority                                                        | CUSIP: 92774NAL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $97764.29     | 0.03%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Beach Development Authority                                                      | Virginia Beach Development Authority, Series 2023B-3                                        | CUSIP: 92774NBF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $758575.50    | 0.21%             | 2029-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                                               | Virginia Small Business Financing Authority                                                 | CUSIP: 928103AG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500243.30    | 0.14%             | 2042-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                                               | Virginia Small Business Financing Authority, Series 2022                                    | CUSIP: 928104PZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    695000 | PA      | $728148.23    | 0.20%             | 2038-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Waco Independent School District                                                          | Waco Independent School District                                                            | CUSIP: 929845VT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $98723.66     | 0.03%             | 2035-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Waco Independent School District                                                          | Waco Independent School District                                                            | CUSIP: 929845VU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $488604.00    | 0.14%             | 2036-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| County of Warren OH                                                                       | County of Warren, Series 2024A                                                              | CUSIP: 935158BD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $241756.97    | 0.07%             | 2044-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Warren OH                                                                       | County of Warren, Series 2024                                                               | CUSIP: 93515PEJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $675912.06    | 0.19%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington Higher Education Facilities Authority                                          | Washington Higher Education Facilities Authority                                            | CUSIP: 9397815N6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $996433.10    | 0.28%             | 2041-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                               | Washington State Housing Finance Commission, Series 2023A                                   | CUSIP: 939783Q58<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    795000 | PA      | $835453.26    | 0.23%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                               | Washington State Housing Finance Commission, Series 2025A                                   | CUSIP: 939783Z33<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $998348.10    | 0.28%             | 2046-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Washington Health Care Facilities Authority                                               | Washington Health Care Facilities Authority, Series 2025 A                                  | CUSIP: 93978HE50<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |    600000 | PA      | $671353.32    | 0.19%             | 2037-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                               | Washington State Housing Finance Commission, Series MTEBS 2024                              | CUSIP: 93979AAC3<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    105000 | PA      | $108994.46    | 0.03%             | 2034-07-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| County of Washoe NV                                                                       | County of Washoe, Series 2016 F                                                             | CUSIP: 940865BH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $117534.28    | 0.03%             | 2036-03-01      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| Wayne County Airport Authority                                                            | Wayne County Airport Authority, Series 2025 F                                               | CUSIP: 9445142P2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $503250.03    | 0.14%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wayne County Airport Authority                                                            | Wayne County Airport Authority, Series 2025 B                                               | CUSIP: 944514T99<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $779562.35    | 0.22%             | 2039-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Wayne County Airport Authority                                                            | Wayne County Airport Authority, Series 2025D                                                | CUSIP: 944514X86<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $332661.93    | 0.09%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| West Central Ohio Port Authority                                                          | West Central Ohio Port Authority, Series 2025A                                              | CUSIP: 95184BAB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $751855.31    | 0.21%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| West Virginia Economic Development Authority                                              | West Virginia Economic Development Authority                                                | CUSIP: 95648VBK4<br>LEI: 549300WW88TKKF5H1220 | Long             | DBT              | MUN               | US        |    330000 | PA      | $327228.10    | 0.09%             | 2037-06-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| West Virginia Economic Development Authority                                              | West Virginia Economic Development Authority, Series 2025                                   | CUSIP: 95648VBV0<br>LEI: 549300WW88TKKF5H1220 | Long             | DBT              | MUN               | US        |    230000 | PA      | $232853.84    | 0.06%             | 2055-04-15      | Variable      | 4.62%                 | No            |                  2 | On Loan: No      |
| Westchester County Industrial Development Agency                                          | Westchester County Industrial Development Agency, Series 2023                               | CUSIP: 95737QAG7<br>LEI: 549300YOPFLG4RJ5YO58 | Long             | DBT              | MUN               | US        |    589603 | PA      | $589558.72    | 0.16%             | 2046-06-01      | Variable      | 4.30%                 | No            |                  2 | On Loan: No      |
| Westmoreland County Industrial Development Authority PA                                   | Westmoreland County Industrial Development Authority                                        | CUSIP: 961008RR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $498375.90    | 0.14%             | 2026-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Whiting IN                                                                        | City of Whiting                                                                             | CUSIP: 96634RAW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $786953.85    | 0.22%             | 2045-11-01      | Variable      | 4.40%                 | No            |                  2 | On Loan: No      |
| William Penn School District Authority                                                    | William Penn School District Authority, Series 2025B                                        | CUSIP: 969257BE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $235656.00    | 0.07%             | 2043-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Housing & Economic Development Authority Home Ownership Revenue                 | Wisconsin Housing & Economic Development Authority Home Ownership, Series 2024 C            | CUSIP: 97689QWD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    980000 | PA      | $1070440.57   | 0.30%             | 2055-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                                       | Wisconsin Health & Educational Facilities Authority                                         | CUSIP: 97712D8R0<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $999917.30    | 0.28%             | 2040-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                                       | Wisconsin Health & Educational Facilities Authority                                         | CUSIP: 97712JCA9<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    290000 | PA      | $290415.48    | 0.08%             | 2027-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                                       | Wisconsin Health & Educational Facilities Authority                                         | CUSIP: 97712JCB7<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    195000 | PA      | $195882.78    | 0.05%             | 2028-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                                       | Wisconsin Health & Educational Facilities Authority                                         | CUSIP: 97712JCC5<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    310000 | PA      | $312213.34    | 0.09%             | 2029-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                                       | Wisconsin Health & Educational Facilities Authority                                         | CUSIP: 97712JEB5<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    400000 | PA      | $403192.68    | 0.11%             | 2030-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                                       | Wisconsin Health & Educational Facilities Authority                                         | CUSIP: 97712JGK3<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    200000 | PA      | $221715.40    | 0.06%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                                       | Wisconsin Health & Educational Facilities Authority                                         | CUSIP: 97712JHA4<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    155000 | PA      | $157587.76    | 0.04%             | 2033-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                                       | Wisconsin Health & Educational Facilities Authority, Series 2024 B                          | CUSIP: 97712JJA2<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1101425.20   | 0.30%             | 2054-10-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| York County Economic Development Authority                                                | York County Economic Development Authority                                                  | CUSIP: 98659AAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    610000 | PA      | $617484.64    | 0.17%             | 2033-05-01      | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-30

**Name of Applicant:** MFS Municipal Series Trust

**Signature:** James Byrne

**Name of Signer:** James Byrne

**Title:** Assistant Treasurer