# EDGAR Filing Document

**Accession Number:** 0001426439
**File Stem:** 0000940400-25-002567
**Filing Date:** 2025-9
**Character Count:** 376464
**Document Hash:** 6dfe2220f87c59c9403fcb3946338c60
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-002567.hdr.sgml**: 20250925

**ACCESSION NUMBER**: 0000940400-25-002567

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250925

**DATE AS OF CHANGE**: 20250925

**PERIOD START**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** New York Life Investments Active ETF Trust
- **CENTRAL INDEX KEY:** 0001426439

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22739
- **FILM NUMBER:** 251344577

**BUSINESS ADDRESS:**
- **STREET 1:** 51 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
- **BUSINESS PHONE:** (212) 576-5018

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NYLI MacKay Core Plus Bond ETF
- **DATE OF NAME CHANGE:** 20241203

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** New York Life Investments Active ETF Trust
- **DATE OF NAME CHANGE:** 20240822

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** IndexIQ Active ETF Trust
- **DATE OF NAME CHANGE:** 20080207

## Series and Classes Contracts Data

### NYLI MacKay Muni Intermediate ETF (Series ID: S000057661)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000184311 | NYLI MacKay Muni Intermediate ETF | MMIT            |

## Nport-Ex

<u>Schedule of Investments ─ NYLI MacKay Muni Intermediate ETF</u> <br> July 31, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds — 99.8%** |  |  |
| FHLMC Multifamily VRD Certificates, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series ML Insured: FHLMC COLL |  |  |
| &nbsp;&nbsp;4.759%, due 8/25/41 | $3087742 | $3079171 |
| **Alabama — 5.2%** |  |  |
| Alabama Federal Aid Highway Finance Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 9/1/36 | 750000 | 834330 |
| Alabama Housing Finance Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series D Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;5.750%, due 10/1/55 | 1000000 | 1090146 |
| Black Belt Energy Gas District, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;2.640%, (Municipal Swap Index + 0.35%), due 10/1/52<sup>(a)(b)</sup> | 1630000 | 1605772 |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, due 5/1/55<sup>(a)(b)</sup> | 1495000 | 1577606 |
| &nbsp;&nbsp;Series A-1 |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 12/1/49<sup>(a)(b)</sup> | 600000 | 601119 |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 10/1/52<sup>(a)(b)</sup> | 9065000 | 9130436 |
| &nbsp;&nbsp;&nbsp;5.250%, due 12/1/53<sup>(a)(b)</sup> | 3000000 | 3221591 |
| &nbsp;&nbsp;Series B-2 |  |  |
| &nbsp;&nbsp;&nbsp;2.940%, (Municipal Swap Index + 0.65%), due 4/1/53<sup>(a)(b)</sup> | 900000 | 880482 |
| &nbsp;&nbsp;Series C-1 |  |  |
| &nbsp;&nbsp;5.250%, due 6/1/26 | 1800000 | 1827748 |
| &nbsp;&nbsp;&nbsp;5.250%, due 2/1/53<sup>(a)(b)</sup> | 4000000 | 4196211 |
| &nbsp;&nbsp;Series F |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, due 11/1/53<sup>(a)(b)</sup> | 1000000 | 1049769 |
| Industrial Development Board of the City of Mobile Alabama, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, due 6/1/34<sup>(a)(b)</sup> | 2000000 | 2020938 |
| Southeast Alabama Gas Supply District (The), Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 8/1/54<sup>(a)(b)</sup> | 2000000 | 2112957 |
| Southeast Energy Authority A Cooperative District, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series 1 |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, due 1/1/53<sup>(a)(b)</sup> | 3000000 | 3191329 |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 11/1/32 | 1000000 | 1038878 |
| &nbsp;&nbsp;5.000%, due 6/1/34 | 1000000 | 1056369 |
| &nbsp;&nbsp;5.000%, due 11/1/35 | 6250000 | 6442280 |
| &nbsp;&nbsp;&nbsp;5.000%, due 1/1/56<sup>(a)(b)</sup> | 1300000 | 1311637 |
| &nbsp;&nbsp;Series B-1 |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 5/1/53<sup>(a)(b)</sup> | 1000000 | 1033710 |
| &nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 5/1/55<sup>(a)(b)</sup> | 6115000 | 6502509 |
| &nbsp;&nbsp;&nbsp;5.000%, due 10/1/55<sup>(a)(b)</sup> | 3130000 | 3322398 |
| Town of Pike Road AL, General Obligation Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 3/1/39 | 720000 | 762090 |
|  |  | 54810305 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Arizona — 2.4%** |  |  |
| Arizona Industrial Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 1/1/42<sup>(a)(b)</sup> | $2500000 | $2563433 |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 11/1/31 | 550000 | 573314 |
| &nbsp;&nbsp;Series A Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 6/1/31 | 300000 | 321056 |
| &nbsp;&nbsp;5.000%, due 6/1/32 | 325000 | 344920 |
| &nbsp;&nbsp;Series A Insured: HUD SECT 8 |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 10/1/44<sup>(a)(b)</sup> | 1000000 | 1012019 |
| City of Glendale AZ Water & Sewer Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/39 | 675000 | 726608 |
| &nbsp;&nbsp;5.000%, due 7/1/40 | 550000 | 585668 |
| City of Goodyear AZ Water & Sewer Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AGC |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/44 | 2000000 | 2056833 |
| City of Mesa AZ, General Obligation Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/43 | 1895000 | 1970906 |
| City of Phoenix Civic Improvement Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/45 | 1500000 | 1533253 |
| Industrial Development Authority of the City of Phoenix Arizona (The), Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;3.100%, due 2/1/59<sup>(a)(b)</sup> | 1000000 | 1000892 |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 10/31/44 | 8000000 | 8100275 |
| Maricopa County & Phoenix Industrial Development Authorities, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series C Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;6.250%, due 3/1/55 | 1000000 | 1112865 |
| Maricopa County Industrial Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: SD CRED PROG |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/37 | 300000 | 302791 |
| Maricopa County Pollution Control Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;3.600%, due 4/1/40 | 1000000 | 862246 |
| Salt River Project Agricultural Improvement & Power District, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 1/1/42 | 1250000 | 1312309 |
| Tucson Industrial Development Authority/Pima County Industrial Development Auth, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series 1 Insured: GNMA COLL |  |  |
| &nbsp;&nbsp;5.500%, due 1/1/56 | 1000000 | 1085293 |
|  |  | 25464681 |
| **Arkansas — 0.4%** |  |  |
| Bentonville School District No 6, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series D Insured: ST AID WITHHLDG |  |  |
| &nbsp;&nbsp;2.000%, due 6/1/35 | 1000000 | 799077 |

---

<u>Schedule of Investments ─ NYLI MacKay Muni Intermediate ETF (continued)</u> <br> July 31, 2025

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Arkansas (continued)** |  |  |
| City of Magnolia AR Sales & Use Tax Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B Insured: BAM |  |  |
| &nbsp;&nbsp;4.000%, due 4/1/55 | $2150000 | $2122057 |
| Little Rock School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: AGM ST AID WITHHLDG |  |  |
| &nbsp;&nbsp;2.000%, due 2/1/36 | 1000000 | 778321 |
| University of Central Arkansas, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: AGM |  |  |
| &nbsp;&nbsp;5.000%, due 11/1/34 | 400000 | 405864 |
|  |  | 4105319 |
| **California — 8.6%** |  |  |
| Antelope Valley-East Kern Water Agency Financing Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 4/1/55<sup>(a)(b)</sup> | 17000000 | 17594696 |
| California Community Choice Financing Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, due 1/1/54<sup>(a)(b)</sup> | 5185000 | 5410183 |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 3/1/56<sup>(a)(b)</sup> | 1750000 | 1857017 |
| &nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 8/1/55<sup>(a)(b)</sup> | 4090000 | 4325881 |
| &nbsp;&nbsp;Series G |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 11/1/55<sup>(a)(b)</sup> | 3750000 | 3890379 |
| California Enterprise Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;4.000%, due 8/1/40 | 695000 | 649900 |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;3.500%, due 8/1/40 | 500000 | 446698 |
| California Health Facilities Financing Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 11/15/49 | 250000 | 243739 |
| California Infrastructure & Economic Development Bank, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/40 | 2030000 | 2089242 |
| California Municipal Finance Authority |  |  |
| &nbsp;&nbsp;&nbsp;3.438%, due 2/20/41<sup>(a)(b)</sup> | 2994912 | 2638393 |
| California Municipal Finance Authority, Certificates of Participation |  |  |
| &nbsp;&nbsp;Series A Insured: AGM |  |  |
| &nbsp;&nbsp;5.000%, due 11/1/28 | 250000 | 263169 |
| &nbsp;&nbsp;5.000%, due 11/1/29 | 125000 | 133130 |
| &nbsp;&nbsp;5.000%, due 11/1/30 | 410000 | 438732 |
| &nbsp;&nbsp;5.000%, due 11/1/32 | 225000 | 241210 |
| &nbsp;&nbsp;5.000%, due 11/1/33 | 1175000 | 1247957 |
| California Municipal Finance Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 5/15/31 | 400000 | 417626 |
| &nbsp;&nbsp;Series 1 |  |  |
| &nbsp;&nbsp;&nbsp;3.150%, due 8/1/59<sup>(a)(b)</sup> | 4000000 | 4013391 |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/33 | 260000 | 271563 |
| &nbsp;&nbsp;5.000%, due 12/1/34 | 290000 | 300021 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **California (continued)** |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/35 | $320000 | $326467 |
| &nbsp;&nbsp;Series A Insured: HUD SECT 8 |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 8/1/26<sup>(a)(b)</sup> | 1000000 | 1000000 |
| &nbsp;&nbsp;Series TX Insured: CA MTG INS |  |  |
| &nbsp;&nbsp;5.500%, due 11/15/27 | 500000 | 500162 |
| California State Public Works Board, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series D |  |  |
| &nbsp;&nbsp;5.000%, due 11/1/25 | 2580000 | 2595450 |
| California Statewide Communities Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;1.750%, due 9/1/29 | 1000000 | 912349 |
| &nbsp;&nbsp;Series H Insured: FNMA COLL |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, due 9/1/67<sup>(a)(b)</sup> | 1000000 | 1002044 |
| Central Valley Energy Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 12/1/55<sup>(a)(b)</sup> | 1000000 | 1067656 |
| City of Long Beach CA Airport System Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B Insured: AGM |  |  |
| &nbsp;&nbsp;5.000%, due 6/1/29 | 150000 | 163787 |
| City of San Mateo CA, Special Tax |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;5.250%, due 9/1/35 | 1000000 | 1096111 |
| Clovis Unified School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series B Insured: NATL |  |  |
| &nbsp;&nbsp;&nbsp;3.020%, due 8/1/30<sup>(c)</sup> | 1500000 | 1291087 |
| Kelseyville Unified School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series C Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;3.690%, due 8/1/31<sup>(c)</sup> | 150000 | 120454 |
| &nbsp;&nbsp;&nbsp;3.980%, due 8/1/33<sup>(c)</sup> | 35000 | 25541 |
| Los Angeles Department of Water & Power, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/37 | 995000 | 1041890 |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/29 | 525000 | 568457 |
| &nbsp;&nbsp;5.000%, due 7/1/29 | 2215000 | 2398347 |
| &nbsp;&nbsp;5.000%, due 7/1/31 | 1180000 | 1303247 |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/35 | 500000 | 552773 |
| &nbsp;&nbsp;5.250%, due 7/1/37 | 175000 | 176884 |
| &nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/27 | 905000 | 943662 |
| &nbsp;&nbsp;5.000%, due 7/1/29 | 250000 | 270694 |
| &nbsp;&nbsp;5.000%, due 7/1/35 | 920000 | 1004588 |
| &nbsp;&nbsp;5.000%, due 7/1/36 | 500000 | 538857 |
| &nbsp;&nbsp;5.000%, due 7/1/36 | 630000 | 648071 |
| &nbsp;&nbsp;5.000%, due 7/1/42 | 1000000 | 1021762 |
| &nbsp;&nbsp;Series D |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/36 | 110000 | 113155 |
| &nbsp;&nbsp;Series E |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/29 | 515000 | 557629 |
| &nbsp;&nbsp;5.000%, due 7/1/33 | 5000000 | 5567450 |

---

<u>Schedule of Investments ─ NYLI MacKay Muni Intermediate ETF (continued)</u> <br> July 31, 2025

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **California (continued)** |  |  |
| Los Angeles Department of Water & Power Water System Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/29 | $1850000 | $1863011 |
| &nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/41 | 165000 | 168771 |
| San Joaquin Hills Transportation Corridor Agency, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;5.250%, due 1/15/49 | 100000 | 99999 |
| San Joaquin Valley Clean Energy Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, due 1/1/56<sup>(a)(b)</sup> | 1000000 | 1099966 |
| Santa Clara Unified School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;3.250%, due 7/1/44 | 485000 | 389619 |
| Southern California Public Power Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/26 | 725000 | 739688 |
| &nbsp;&nbsp;5.000%, due 7/1/29 | 1350000 | 1461746 |
| &nbsp;&nbsp;5.000%, due 7/1/38 | 585000 | 616620 |
| &nbsp;&nbsp;Series 1 |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/29 | 310000 | 335660 |
| &nbsp;&nbsp;Series 1 Insured: BAM |  |  |
| &nbsp;&nbsp;5.250%, due 7/1/42 | 1320000 | 1390495 |
| &nbsp;&nbsp;Series 2 |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 7/1/53<sup>(a)(b)</sup> | 5000000 | 5282729 |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/31 | 420000 | 464586 |
| State of California, General Obligation Bonds |  |  |
| &nbsp;&nbsp;4.000%, due 9/1/32 | 500000 | 502919 |
| &nbsp;&nbsp;5.000%, due 3/1/44 | 1000000 | 1047444 |
| University of California, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series CA |  |  |
| &nbsp;&nbsp;5.000%, due 5/15/40 | 2000000 | 2143398 |
|  |  | 90888152 |
| **Colorado — 2.5%** |  |  |
| Arapahoe County School District No 5 Cherry Creek, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series B Insured: ST AID WITHHLDG |  |  |
| &nbsp;&nbsp;2.000%, due 12/15/26 | 500000 | 493058 |
| Baseline Metropolitan District No 1, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: AGC |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/31 | 1000000 | 1095070 |
| Canyons Metropolitan District No 5, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/39 | 1085000 | 1124441 |
| City & County of Denver CO Pledged Excise Tax Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 8/1/44 | 1000000 | 1001666 |
| Colorado Educational & Cultural Facilities Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: MORAL OBLG |  |  |
| &nbsp;&nbsp;4.250%, due 12/1/35 | 500000 | 498026 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Colorado (continued)** |  |  |
| &nbsp;&nbsp;5.250%, due 12/1/45 | $800000 | $805918 |
| Colorado Health Facilities Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.250%, due 11/1/34 | 1000000 | 1097500 |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;4.000%, due 1/1/36 | 1755000 | 1740150 |
| &nbsp;&nbsp;4.000%, due 8/1/44 | 250000 | 215478 |
| &nbsp;&nbsp;&nbsp;5.000%, due 11/15/59<sup>(a)(b)</sup> | 1000000 | 1079933 |
| &nbsp;&nbsp;&nbsp;5.000%, due 11/15/60<sup>(a)(b)</sup> | 1500000 | 1635272 |
| &nbsp;&nbsp;Series A-1 Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 8/1/35 | 105000 | 109360 |
| Colorado Housing and Finance Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series E2 |  |  |
| &nbsp;&nbsp;3.350%, due 10/1/29 | 1000000 | 1010841 |
| &nbsp;&nbsp;Series K Insured: GNMA COLL |  |  |
| &nbsp;&nbsp;3.875%, due 5/1/50 | 395000 | 397791 |
| Denver City & County School District No 1, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series C Insured: ST AID WITHHLDG |  |  |
| &nbsp;&nbsp;5.500%, due 12/1/46 | 1000000 | 1062520 |
| &nbsp;&nbsp;5.500%, due 12/1/47 | 760000 | 804934 |
| E-470 Public Highway Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 9/1/40 | 1000000 | 1051878 |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;3.671%, (SOFR + 0.75%), due 9/1/39<sup>(a)(b)</sup> | 1040000 | 1038849 |
| Gold Hill Mesa Metropolitan District No 2, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/28 | 145000 | 153430 |
| &nbsp;&nbsp;5.000%, due 12/1/29 | 145000 | 155345 |
| &nbsp;&nbsp;5.250%, due 12/1/37 | 200000 | 212980 |
| Grand River Hospital District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AGM |  |  |
| &nbsp;&nbsp;5.250%, due 12/1/37 | 425000 | 433043 |
| Mesa County Valley School District No 51 Grand Junction, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: ST AID WITHHLDG |  |  |
| &nbsp;&nbsp;5.250%, due 12/1/42 | 3500000 | 3760274 |
| Public Authority for Colorado Energy, Revenue Bonds |  |  |
| &nbsp;&nbsp;6.500%, due 11/15/38 | 1990000 | 2317691 |
| Regional Transportation District, Certificates of Participation |  |  |
| &nbsp;&nbsp;5.000%, due 6/1/40 | 1500000 | 1596581 |
| Town of Castle Rock CO, Certificates of Participation |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/41 | 1670000 | 1724190 |
|  |  | 26616219 |
| **Connecticut — 1.2%** |  |  |
| City of Bridgeport CT, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 11/1/33 | 600000 | 619323 |

---

<u>Schedule of Investments ─ NYLI MacKay Muni Intermediate ETF (continued)</u> <br> July 31, 2025

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Connecticut (continued)** |  |  |
| City of New Britain CT, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series B Insured: AGM |  |  |
| &nbsp;&nbsp;5.250%, due 9/1/30 | $600000 | $641822 |
| City of West Haven CT, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;4.000%, due 9/15/27 | 240000 | 245801 |
| Connecticut State Health & Educational Facilities Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/35 | 1355000 | 1476382 |
| &nbsp;&nbsp;&nbsp;5.000%, due 7/1/49<sup>(a)(b)</sup> | 1300000 | 1392559 |
| State of Connecticut, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 4/15/38 | 5500000 | 5647295 |
| State of Connecticut Special Tax Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;4.000%, due 5/1/39 | 1500000 | 1463596 |
| &nbsp;&nbsp;5.250%, due 7/1/40 | 1000000 | 1070037 |
| Town of Hamden CT, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 8/15/32 | 350000 | 388774 |
|  |  | 12945589 |
| **Delaware — 0.5%** |  |  |
| Delaware State Housing Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;5.750%, due 1/1/55 | 1110000 | 1204710 |
| &nbsp;&nbsp;5.750%, due 1/1/56 | 1000000 | 1092956 |
| &nbsp;&nbsp;Series B Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;6.000%, due 1/1/56 | 1100000 | 1215393 |
| &nbsp;&nbsp;Series D Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;5.500%, due 7/1/55 | 1195000 | 1289994 |
|  |  | 4803053 |
| **District of Columbia — 0.8%** |  |  |
| District of Columbia Housing Finance Agency, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 9/1/40<sup>(a)(b)</sup> | 3035000 | 3036725 |
| &nbsp;&nbsp;&nbsp;5.000%, due 10/1/41<sup>(a)(b)</sup> | 2000000 | 2027417 |
| Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;6.500%, due 10/1/44 | 3000000 | 3152625 |
|  |  | 8216767 |
| **Florida — 1.6%** |  |  |
| Capital Trust Agency, Inc., Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.350%, due 7/1/29 | 845000 | 846150 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Florida (continued)** |  |  |
| City of Lauderhill FL Water & Sewer Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AGM |  |  |
| &nbsp;&nbsp;5.000%, due 10/1/48 | $1000000 | $1011984 |
| City of Miami Beach FL, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 9/1/45 | 1000000 | 1000776 |
| City of Miami Beach FL Water & Sewer Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;4.000%, due 12/1/34 | 1000000 | 1024672 |
| County of Okeechobee FL, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;3.800%, due 7/1/39<sup>(a)(b)</sup> | 1000000 | 988527 |
| County of Pasco FL, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AGM |  |  |
| &nbsp;&nbsp;5.250%, due 9/1/29 | 1000000 | 1089413 |
| &nbsp;&nbsp;Series A Insured: AGM |  |  |
| &nbsp;&nbsp;5.250%, due 9/1/28 | 1000000 | 1071396 |
| Fort Pierce Utilities Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: AGM |  |  |
| &nbsp;&nbsp;5.000%, due 10/1/31 | 400000 | 439932 |
| Hillsborough County Industrial Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, due 11/1/38<sup>(a)(b)</sup> | 500000 | 500000 |
| &nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;5.000%, due 11/15/34 | 1290000 | 1439925 |
| JEA Water & Sewer System Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.250%, due 10/1/49 | 1000000 | 1031964 |
| Julington Creek Plantation Community Development District, Special Assessment |  |  |
| &nbsp;&nbsp;Insured: AGM |  |  |
| &nbsp;&nbsp;5.500%, due 5/1/43 | 1250000 | 1312920 |
| Miami-Dade County Housing Finance Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: FNMA COLL HUD SECT 8 |  |  |
| &nbsp;&nbsp;4.880%, due 3/1/46 | 1000000 | 945872 |
| &nbsp;&nbsp;Series B Insured: HUD SECT 8 |  |  |
| &nbsp;&nbsp;&nbsp;3.550%, due 3/1/29<sup>(a)(b)</sup> | 1000000 | 1015678 |
| Palm Beach County Housing Finance Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 2/1/27<sup>(a)(b)</sup> | 1000000 | 1009929 |
| Tampa Bay Water, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 10/1/39 | 1600000 | 1694219 |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 10/1/49 | 750000 | 761452 |
|  |  | 17184809 |
| **Georgia — 3.9%** |  |  |
| Atlanta Urban Residential Finance Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: FHA 221(D4) HUD SECT 8 |  |  |
| &nbsp;&nbsp;&nbsp;3.450%, due 2/1/29<sup>(a)(b)</sup> | 3000000 | 3031934 |

---

<u>Schedule of Investments ─ NYLI MacKay Muni Intermediate ETF (continued)</u> <br> July 31, 2025

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Georgia (continued)** |  |  |
| City of Atlanta GA Airport Passenger Facility Charge, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/41 | $1250000 | $1302611 |
| City of Atlanta GA Water & Wastewater Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 11/1/40 | 2500000 | 2499844 |
| Development Authority of Burke County (The), Revenue Bonds |  |  |
| &nbsp;&nbsp;Series E |  |  |
| &nbsp;&nbsp;&nbsp;3.600%, due 11/1/45<sup>(a)(b)</sup> | 3015000 | 3052072 |
| Main Street Natural Gas, Inc., Revenue Bonds |  |  |
| &nbsp;&nbsp;Series 2 |  |  |
| &nbsp;&nbsp;&nbsp;4.621%, (SOFR + 1.70%), due 12/1/53<sup>(a)(b)</sup> | 5000000 | 5031577 |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 7/1/52<sup>(a)(b)</sup> | 1500000 | 1515835 |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 12/1/52<sup>(a)(b)</sup> | 5735000 | 5983230 |
| &nbsp;&nbsp;&nbsp;5.000%, due 7/1/53<sup>(a)(b)</sup> | 1250000 | 1319305 |
| &nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 5/1/52<sup>(a)(b)</sup> | 1000000 | 1005588 |
| &nbsp;&nbsp;5.000%, due 12/1/31 | 1040000 | 1094144 |
| &nbsp;&nbsp;Series D |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 4/1/54<sup>(a)(b)</sup> | 1750000 | 1855831 |
| &nbsp;&nbsp;Series E |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 5/1/55<sup>(a)(b)</sup> | 7230000 | 7589820 |
| Municipal Electric Authority of Georgia, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 1/1/39 | 3500000 | 3554559 |
| Private Colleges & Universities Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;4.000%, due 4/1/39 | 450000 | 427338 |
| Walton County Water & Sewer Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.250%, due 2/1/40 | 450000 | 482247 |
| &nbsp;&nbsp;5.250%, due 2/1/41 | 400000 | 425477 |
| &nbsp;&nbsp;5.250%, due 2/1/42 | 350000 | 369600 |
| &nbsp;&nbsp;5.250%, due 2/1/43 | 425000 | 446446 |
|  |  | 40987458 |
| **Guam — 0.5%** |  |  |
| Antonio B Won Pat International Airport Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;5.000%, due 10/1/35 | 150000 | 159585 |
| Guam Power Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 10/1/34 | 600000 | 648424 |
| &nbsp;&nbsp;5.000%, due 10/1/40 | 1000000 | 995123 |
| Territory of Guam, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series G |  |  |
| &nbsp;&nbsp;5.000%, due 1/1/31 | 1500000 | 1615377 |
| &nbsp;&nbsp;5.250%, due 1/1/37 | 2000000 | 2128280 |
|  |  | 5546789 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Hawaii — 0.3%** |  |  |
| City & County Honolulu HI Wastewater System Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/36 | $1000000 | $1012140 |
| State of Hawaii, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series FW |  |  |
| &nbsp;&nbsp;5.000%, due 1/1/39 | 1095000 | 1123928 |
| State of Hawaii Airports System Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/49 | 1500000 | 1526791 |
|  |  | 3662859 |
| **Illinois — 8.6%** |  |  |
| Chicago Board of Education, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: AGM |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/28 | 1000000 | 1051361 |
| Chicago O'Hare International Airport, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 1/1/37 | 1335000 | 1419385 |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;5.000%, due 1/1/39 | 2700000 | 2765999 |
| &nbsp;&nbsp;5.000%, due 1/1/48 | 1500000 | 1502244 |
| &nbsp;&nbsp;5.250%, due 1/1/44 | 1000000 | 1036580 |
| &nbsp;&nbsp;Series D |  |  |
| &nbsp;&nbsp;5.000%, due 1/1/44 | 1500000 | 1529545 |
| Chicago Transit Authority Sales Tax Receipts Fund, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/49 | 10000000 | 9708414 |
| City of Chicago IL, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: NATL |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 1/1/27<sup>(c)</sup> | 515000 | 493670 |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 1/1/32 | 1500000 | 1568519 |
| &nbsp;&nbsp;5.500%, due 1/1/40 | 1000000 | 1020034 |
| City of Chicago IL, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: HUD SECT 8 FHA 221(D4) |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 11/1/26<sup>(a)(b)</sup> | 5000000 | 5023876 |
| City of Joliet IL, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 12/15/38 | 1000000 | 1038694 |
| &nbsp;&nbsp;5.250%, due 12/15/39 | 1000000 | 1045921 |
| &nbsp;&nbsp;5.250%, due 12/15/40 | 1000000 | 1042409 |
| City of Springfield IL Electric Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;3.000%, due 3/1/38 | 2100000 | 1834368 |
| &nbsp;&nbsp;5.000%, due 3/1/32 | 8340000 | 9194288 |
| Illinois Finance Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 8/15/44 | 2290000 | 2292107 |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;4.000%, due 10/1/38 | 2350000 | 2202965 |
| &nbsp;&nbsp;4.250%, due 7/1/41 | 1500000 | 1449431 |
| &nbsp;&nbsp;5.000%, due 8/15/30 | 1300000 | 1422667 |
| &nbsp;&nbsp;5.000%, due 7/1/42 | 500000 | 517593 |

---

<u>Schedule of Investments ─ NYLI MacKay Muni Intermediate ETF (continued)</u> <br> July 31, 2025

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Illinois (continued)** |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/43 | $1000000 | $1034389 |
| Illinois Housing Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;3.450%, due 12/1/67<sup>(a)(b)</sup> | 3000000 | 3010776 |
| &nbsp;&nbsp;&nbsp;5.000%, due 2/1/27<sup>(a)(b)</sup> | 3000000 | 3029786 |
| &nbsp;&nbsp;Insured: HUD SECT 8 |  |  |
| &nbsp;&nbsp;&nbsp;3.150%, due 2/1/29<sup>(a)(b)</sup> | 2000000 | 2003167 |
| &nbsp;&nbsp;Series A Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;4.375%, due 10/1/41 | 515000 | 498296 |
| &nbsp;&nbsp;Series B Insured: GNMA FNMA FHLMC COLL |  |  |
| &nbsp;&nbsp;3.000%, due 4/1/51 | 900000 | 889766 |
| &nbsp;&nbsp;Series I Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;6.000%, due 10/1/55 | 995000 | 1097372 |
| Illinois State Toll Highway Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 1/1/40 | 1500000 | 1497959 |
| &nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;5.000%, due 1/1/38 | 2130000 | 2129914 |
| &nbsp;&nbsp;5.000%, due 1/1/39 | 1650000 | 1642407 |
| Lake County School District No 112 North Shore, General Obligation Bonds |  |  |
| &nbsp;&nbsp;4.000%, due 12/1/37 | 1000000 | 992946 |
| Madison-Macoupin Etc Counties Community College District No 536, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: AGM |  |  |
| &nbsp;&nbsp;5.000%, due 11/1/32 | 320000 | 327637 |
| Metropolitan Pier & Exposition Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;4.000%, due 12/15/42 | 650000 | 568660 |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 12/15/28 | 1500000 | 1561188 |
| Metropolitan Water Reclamation District of Greater Chicago, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series E |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/41 | 1000000 | 1010687 |
| Rock Island & Mercer Counties Community Unit School District No 300, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/38 | 805000 | 858457 |
| &nbsp;&nbsp;5.000%, due 12/1/41 | 1025000 | 1065840 |
| &nbsp;&nbsp;5.000%, due 12/1/44 | 425000 | 431881 |
| &nbsp;&nbsp;5.000%, due 12/1/45 | 555000 | 561684 |
| &nbsp;&nbsp;5.000%, due 12/1/46 | 1790000 | 1803178 |
| Sales Tax Securitization Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;4.000%, due 1/1/38 | 1800000 | 1700774 |
| &nbsp;&nbsp;5.000%, due 1/1/29 | 500000 | 533554 |
| &nbsp;&nbsp;5.000%, due 1/1/41 | 1500000 | 1551542 |
| &nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;5.500%, due 1/1/36 | 1500000 | 1575182 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Illinois (continued)** |  |  |
| Southwestern Illinois Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B Insured: BAM |  |  |
| &nbsp;&nbsp;5.500%, due 4/1/44 | $2000000 | $2087586 |
| State of Illinois, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 3/1/29 | 1470000 | 1565827 |
| &nbsp;&nbsp;5.000%, due 3/1/30 | 1000000 | 1076336 |
| &nbsp;&nbsp;Series D |  |  |
| &nbsp;&nbsp;5.000%, due 11/1/28 | 1000000 | 1042391 |
| Union Alexander Massac Pulaski Etc Counties Community College District No 531, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/25 | 1175000 | 1182312 |
| Village of Bradley IL, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AGM |  |  |
| &nbsp;&nbsp;5.000%, due 12/15/39 | 1125000 | 1148858 |
| Village of Matteson IL, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/29 | 465000 | 490285 |
| Will County School District No 114 Manhattan, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AGM |  |  |
| &nbsp;&nbsp;3.500%, due 1/1/26 | 840000 | 840508 |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 1/1/36 | 445000 | 480796 |
| &nbsp;&nbsp;5.250%, due 1/1/39 | 555000 | 592349 |
|  |  | 91044360 |
| **Indiana — 2.4%** |  |  |
| Avon Community School Building Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: ST INTERCEPT |  |  |
| &nbsp;&nbsp;5.250%, due 7/15/38 | 1000000 | 1081145 |
| Brownsburg 1999 School Building Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: ST INTERCEPT |  |  |
| &nbsp;&nbsp;5.500%, due 7/15/41 | 5730000 | 6009799 |
| Greater Clark Building Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: ST INTERCEPT |  |  |
| &nbsp;&nbsp;6.000%, due 7/15/34 | 1000000 | 1155459 |
| Indiana Finance Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series 4 |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 10/1/57<sup>(a)(b)</sup> | 2220000 | 2416073 |
| &nbsp;&nbsp;Series D |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, due 11/1/39<sup>(a)(b)</sup> | 5000000 | 5000000 |
| Indiana Housing & Community Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: FHA 223(F) |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 10/1/26<sup>(a)(b)</sup> | 2000000 | 2003946 |
| Indiana Municipal Power Agency, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: AGC |  |  |
| &nbsp;&nbsp;5.000%, due 1/1/43 | 1225000 | 1257962 |

---

<u>Schedule of Investments ─ NYLI MacKay Muni Intermediate ETF (continued)</u> <br> July 31, 2025

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Indiana (continued)** |  |  |
| Indianapolis Local Public Improvement Bond Bank, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 7/15/40 | $1500000 | $1577763 |
| &nbsp;&nbsp;Series B1 |  |  |
| &nbsp;&nbsp;5.000%, due 1/1/38 | 475000 | 512826 |
| &nbsp;&nbsp;5.000%, due 1/1/42 | 500000 | 516533 |
| Terre Haute Sanitary District, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/43 | 1470000 | 1499245 |
| Tri-Creek 2002 High School Building Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: ST INTERCEPT |  |  |
| &nbsp;&nbsp;5.500%, due 7/15/43 | 1000000 | 1053010 |
| Westfield-Washington Multi-School Building Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: BAM ST INTERCEPT |  |  |
| &nbsp;&nbsp;5.250%, due 1/15/44 | 1000000 | 1034795 |
|  |  | 25118556 |
| **Iowa — 1.5%** |  |  |
| City of Des Moines IA, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series F |  |  |
| &nbsp;&nbsp;2.000%, due 6/1/35 | 2020000 | 1614135 |
| &nbsp;&nbsp;2.000%, due 6/1/36 | 2060000 | 1590008 |
| Hampton-Dumont Community School District, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AGM |  |  |
| &nbsp;&nbsp;6.000%, due 6/1/29 | 965000 | 1038137 |
| Iowa Finance Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.500%, due 12/1/45 | 1690000 | 1693795 |
| &nbsp;&nbsp;Series G Insured: GNMA/FHLMC |  |  |
| &nbsp;&nbsp;6.250%, due 7/1/54 | 1000000 | 1103961 |
| Iowa Higher Education Loan Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 10/1/34 | 300000 | 312650 |
| &nbsp;&nbsp;5.000%, due 10/1/35 | 360000 | 372829 |
| &nbsp;&nbsp;5.000%, due 10/1/36 | 365000 | 375797 |
| Jesup Community School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AGM |  |  |
| &nbsp;&nbsp;5.000%, due 6/1/27 | 490000 | 509352 |
| State of Iowa Board of Regents, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;4.000%, due 9/1/41 | 3297000 | 3055255 |
| &nbsp;&nbsp;4.125%, due 9/1/42 | 1230000 | 1139536 |
| &nbsp;&nbsp;4.250%, due 9/1/43 | 1000000 | 931740 |
| &nbsp;&nbsp;4.250%, due 9/1/44 | 1485000 | 1371568 |
| &nbsp;&nbsp;4.375%, due 9/1/45 | 1000000 | 939303 |
|  |  | 16048066 |
| **Kansas — 0.6%** |  |  |
| City of Manhattan KS, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 11/1/41 | 1555000 | 1614332 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Kansas (continued)** |  |  |
| Douglas County Unified School District No 497 Lawrence, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: BAM |  |  |
| &nbsp;&nbsp;3.625%, due 9/1/37 | $3410000 | $3193640 |
| Kansas Development Finance Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 6/1/43<sup>(a)(b)</sup> | 1305000 | 1340699 |
|  |  | 6148671 |
| **Kentucky — 3.0%** |  |  |
| City of Ashland KY, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 2/1/40 | 500000 | 491230 |
| Kentucky Bond Development Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: AGC |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 8/15/55<sup>(a)(b)</sup> | 2050000 | 2245566 |
| Kentucky Economic Development Finance Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 1/1/45 | 1000000 | 977712 |
| Kentucky Municipal Energy Agency, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 1/1/38 | 1000000 | 1067482 |
| &nbsp;&nbsp;5.000%, due 1/1/41 | 1000000 | 1034141 |
| &nbsp;&nbsp;Insured: AGC |  |  |
| &nbsp;&nbsp;5.000%, due 1/1/45 | 915000 | 929597 |
| Kentucky Municipal Power Agency, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: NATL |  |  |
| &nbsp;&nbsp;5.000%, due 9/1/42 | 810000 | 810430 |
| Kentucky Public Energy Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 12/1/50<sup>(a)(b)</sup> | 5000000 | 5030686 |
| &nbsp;&nbsp;&nbsp;5.250%, due 6/1/55<sup>(a)(b)</sup> | 5000000 | 5278307 |
| &nbsp;&nbsp;Series A-1 |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, due 4/1/54<sup>(a)(b)</sup> | 2500000 | 2680040 |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 1/1/55<sup>(a)(b)</sup> | 7430000 | 7857820 |
| &nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 2/1/50<sup>(a)(b)</sup> | 2325000 | 2335262 |
| Louisville/Jefferson County Metropolitan Government, Revenue Bonds |  |  |
| &nbsp;&nbsp;2.000%, due 10/1/33 | 1000000 | 828933 |
| &nbsp;&nbsp;5.000%, due 10/1/32 | 500000 | 506798 |
|  |  | 32074004 |
| **Louisiana — 1.1%** |  |  |
| City of Lafayette LA Utilities Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 11/1/38 | 550000 | 586569 |
| City of New Orleans LA, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/33 | 1250000 | 1352066 |

---

<u>Schedule of Investments ─ NYLI MacKay Muni Intermediate ETF (continued)</u> <br> July 31, 2025

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Louisiana (continued)** |  |  |
| City of Shreveport LA, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AGC |  |  |
| &nbsp;&nbsp;5.000%, due 3/1/38 | $825000 | $865191 |
| City of Shreveport LA Water & Sewer Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series C Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/31 | 100000 | 104406 |
| Louisiana Housing Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: HUD SECT 8 FHA 221(D4) |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/26 | 6000000 | 6106667 |
| Louisiana Local Government Environmental Facilities & Community Development Auth, Revenue Bonds |  |  |
| &nbsp;&nbsp;3.500%, due 11/1/32 | 1000000 | 955594 |
| Louisiana Public Facilities Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;5.000%, due 5/15/30 | 1875000 | 2032034 |
|  |  | 12002527 |
| **Maine — 0.0%<sup>(d)</sup>** |  |  |
| Maine Turnpike Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AGC |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/30 | 245000 | 269424 |
| **Maryland — 0.9%** |  |  |
| Maryland Community Development Administration, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;1.900%, due 9/1/31 | 1505000 | 1320555 |
| &nbsp;&nbsp;Series A Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;5.000%, due 9/1/42 | 1000000 | 1007599 |
| Maryland Department of Housing & Community Development, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;6.250%, due 3/1/56 | 500000 | 561108 |
| Maryland Health & Higher Educational Facilities Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/36 | 3710000 | 4037482 |
| Maryland Stadium Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: ST INTERCEPT |  |  |
| &nbsp;&nbsp;5.000%, due 5/1/42 | 1820000 | 1838777 |
| Montgomery County Housing Opportunities Commission, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: FHA 542(C) |  |  |
| &nbsp;&nbsp;3.850%, due 7/1/34 | 1000000 | 994327 |
|  |  | 9759848 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Massachusetts — 0.7%** |  |  |
| Massachusetts Bay Transportation Authority Sales Tax Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;3.450%, due 7/1/31<sup>(c)</sup> | $1000000 | $816953 |
| Massachusetts Department of Transportation, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: NATL |  |  |
| &nbsp;&nbsp;&nbsp;2.810%, due 1/1/29<sup>(c)</sup> | 570000 | 518161 |
| Massachusetts Development Finance Agency, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series 1 |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 5/15/55<sup>(a)(b)</sup> | 2000000 | 2236227 |
| &nbsp;&nbsp;Series E |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/37 | 500000 | 502107 |
| Massachusetts Housing Finance Agency, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series 218 |  |  |
| &nbsp;&nbsp;3.000%, due 12/1/50 | 2785000 | 2758811 |
| &nbsp;&nbsp;Series RE Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;3.000%, due 6/1/51 | 965000 | 951927 |
|  |  | 7784186 |
| **Michigan — 2.4%** |  |  |
| County of Genesee MI, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AGM |  |  |
| &nbsp;&nbsp;5.000%, due 6/1/28 | 90000 | 95684 |
| &nbsp;&nbsp;5.000%, due 6/1/30 | 210000 | 230403 |
| Four Lakes Special Assessment District, Special Assessment |  |  |
| &nbsp;&nbsp;Insured: AG CNTY GTD |  |  |
| &nbsp;&nbsp;5.000%, due 6/1/42 | 2105000 | 2138364 |
| &nbsp;&nbsp;5.125%, due 6/1/45 | 1710000 | 1722860 |
| Grand Rapids Public Schools, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AGM |  |  |
| &nbsp;&nbsp;5.000%, due 5/1/28 | 2105000 | 2140708 |
| Great Lakes Water Authority Sewage Disposal System Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/36 | 810000 | 817213 |
| Great Lakes Water Authority Water Supply System Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/46 | 500000 | 496047 |
| &nbsp;&nbsp;Series B Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/46 | 2525000 | 2511486 |
| Michigan Finance Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;3.750%, due 12/1/38 | 1000000 | 1032952 |
| &nbsp;&nbsp;&nbsp;3.875%, due 12/1/44<sup>(a)(b)</sup> | 1505000 | 1506391 |
| &nbsp;&nbsp;5.000%, due 11/1/44 | 1000000 | 977529 |
| Michigan State Building Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series I |  |  |
| &nbsp;&nbsp;5.000%, due 4/15/41 | 2175000 | 2192173 |

---

<u>Schedule of Investments ─ NYLI MacKay Muni Intermediate ETF (continued)</u> <br> July 31, 2025

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Michigan (continued)** |  |  |
| Michigan State Housing Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: FHA 221(D4) |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 11/1/26<sup>(a)(b)</sup> | $2000000 | $2030042 |
| &nbsp;&nbsp;Series D |  |  |
| &nbsp;&nbsp;6.250%, due 6/1/55 | 795000 | 875333 |
| Richmond Community Schools, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series I Insured: Q-SBLF |  |  |
| &nbsp;&nbsp;4.000%, due 5/1/36 | 1450000 | 1454040 |
| &nbsp;&nbsp;4.000%, due 5/1/37 | 2655000 | 2638097 |
| State of Michigan Trunk Line Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.500%, due 11/15/44 | 2000000 | 2120034 |
|  |  | 24979356 |
| **Minnesota — 0.9%** |  |  |
| Minneapolis Special School District No 1, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series B Insured: SD CRED PROG |  |  |
| &nbsp;&nbsp;5.000%, due 2/1/31 | 1250000 | 1320241 |
| Minnesota Housing Finance Agency, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;3.000%, due 7/1/52 | 4070000 | 4014667 |
| &nbsp;&nbsp;Series C Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;6.250%, due 7/1/55 | 1300000 | 1459896 |
| &nbsp;&nbsp;Series E Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;3.500%, due 7/1/50 | 680000 | 680441 |
| &nbsp;&nbsp;Series F Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;6.250%, due 1/1/56 | 1000000 | 1111315 |
| &nbsp;&nbsp;Series U Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;6.250%, due 7/1/55 | 1125000 | 1258076 |
|  |  | 9844636 |
| **Mississippi — 0.3%** |  |  |
| Mississippi Development Bank, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.250%, due 6/1/40 | 750000 | 794100 |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 3/1/39 | 740000 | 765815 |
| &nbsp;&nbsp;5.000%, due 3/1/40 | 455000 | 466034 |
| Mississippi Home Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Series C Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/39 | 1000000 | 1031064 |
|  |  | 3057013 |
| **Missouri — 1.7%** |  |  |
| City of Kansas City MO, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;5.000%, due 9/1/26 | 1300000 | 1333708 |
| &nbsp;&nbsp;5.000%, due 9/1/28 | 1000000 | 1066810 |
| City of St Louis MO Airport Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: AGM |  |  |
| &nbsp;&nbsp;5.250%, due 7/1/49 | 1525000 | 1562974 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Missouri (continued)** |  |  |
| County of Phelps MO, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/39 | $1915000 | $1965072 |
| Hickman Mills C-1 School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series C-1 Insured: BAM |  |  |
| &nbsp;&nbsp;5.750%, due 3/1/42 | 3390000 | 3549633 |
| Missouri Housing Development Commission, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series C Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;5.750%, due 5/1/56 | 1100000 | 1198435 |
| Missouri Joint Municipal Electric Utility Commission, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/40 | 1445000 | 1462199 |
| Missouri State Environmental Improvement & Energy Resources Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B-R |  |  |
| &nbsp;&nbsp;2.900%, due 9/1/33 | 3000000 | 2708167 |
| St Charles County School District No R-IV Wentzville, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: ST AID DIR DEP |  |  |
| &nbsp;&nbsp;&nbsp;3.160%, due 3/1/27<sup>(c)</sup> | 2095000 | 1993193 |
| Wright City R-II School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AGM |  |  |
| &nbsp;&nbsp;6.000%, due 3/1/29 | 150000 | 166632 |
| &nbsp;&nbsp;6.000%, due 3/1/31 | 35000 | 40448 |
| &nbsp;&nbsp;6.000%, due 3/1/33 | 500000 | 586794 |
| &nbsp;&nbsp;6.000%, due 3/1/35 | 530000 | 613137 |
|  |  | 18247202 |
| **Nebraska — 0.6%** |  |  |
| Central Plains Energy Project, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 9/1/27 | 1000000 | 1029965 |
| &nbsp;&nbsp;5.000%, due 9/1/29 | 1725000 | 1807911 |
| Omaha Public Power District, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 2/1/42 | 835000 | 838097 |
| Omaha Public Power District Nebraska City Station Unit 2, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 2/1/46 | 1235000 | 1232881 |
| Omaha School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;1.750%, due 12/15/35 | 1500000 | 1126352 |
|  |  | 6035206 |
| **Nevada — 0.2%** |  |  |
| County of Clark NV, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;4.000%, due 7/1/39 | 1000000 | 958300 |
| Reno-Tahoe Airport Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/38 | 500000 | 536004 |

---

<u>Schedule of Investments ─ NYLI MacKay Muni Intermediate ETF (continued)</u> <br> July 31, 2025

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Nevada (continued)** |  |  |
| State of Nevada Highway Improvement Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;3.000%, due 12/1/41 | $1000000 | $804612 |
|  |  | 2298916 |
| **New Hampshire — 1.4%** |  |  |
| New Hampshire Business Finance Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series 1 |  |  |
| &nbsp;&nbsp;&nbsp;4.087%, due 1/20/41<sup>(a)(b)</sup> | 1226457 | 1157690 |
| &nbsp;&nbsp;4.250%, due 7/20/41 | 984857 | 934522 |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;3.625%, due 8/20/39 | 1092418 | 994568 |
| &nbsp;&nbsp;&nbsp;4.034%, due 10/20/41<sup>(a)(b)</sup> | 1490953 | 1361459 |
| &nbsp;&nbsp;&nbsp;4.060%, due 11/20/39<sup>(a)(b)</sup> | 2484844 | 2353026 |
| &nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;5.250%, due 7/1/42 | 1530000 | 1545413 |
| New Hampshire Health and Education Facilities Authority Act, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B Insured: BAM |  |  |
| &nbsp;&nbsp;4.000%, due 8/1/33 | 2500000 | 2501789 |
| &nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;&nbsp;3.300%, due 6/1/38<sup>(a)(b)</sup> | 1000000 | 1005320 |
| New Hampshire Housing Finance Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;6.500%, due 1/1/56 | 1300000 | 1473497 |
| &nbsp;&nbsp;Series C Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;6.500%, due 7/1/56 | 1400000 | 1586854 |
|  |  | 14914138 |
| **New Jersey — 2.1%** |  |  |
| East Rutherford Board of Education, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;2.000%, due 7/15/34 | 1250000 | 1007727 |
| Essex County Improvement Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;4.000%, due 7/15/28 | 415000 | 421103 |
| New Jersey Educational Facilities Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 7/1/64<sup>(a)(b)</sup> | 1500000 | 1680086 |
| New Jersey Housing & Mortgage Finance Agency, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B Insured: HUD SECT 8 |  |  |
| &nbsp;&nbsp;3.375%, due 11/1/27 | 1000000 | 1005480 |
| &nbsp;&nbsp;Series M |  |  |
| &nbsp;&nbsp;5.050%, due 10/1/45 | 4000000 | 3976194 |
| &nbsp;&nbsp;6.500%, due 4/1/56 | 5000000 | 5635749 |
| New Jersey Transportation Trust Fund Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.250%, due 6/15/43 | 2790000 | 2815357 |
| &nbsp;&nbsp;Series AA |  |  |
| &nbsp;&nbsp;5.000%, due 6/15/37 | 1300000 | 1356076 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **New Jersey (continued)** |  |  |
| New Jersey Turnpike Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;5.000%, due 1/1/42 | $1000000 | $1030392 |
| &nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;5.000%, due 1/1/45 | 1600000 | 1635465 |
| South Jersey Transportation Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: BAM |  |  |
| &nbsp;&nbsp;4.000%, due 11/1/39 | 1485000 | 1390732 |
|  |  | 21954361 |
| **New Mexico — 0.4%** |  |  |
| City of Farmington NM, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;2.150%, due 4/1/33 | 3000000 | 2525152 |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, due 6/1/40<sup>(a)(b)</sup> | 2000000 | 2033508 |
|  |  | 4558660 |
| **New York — 7.4%** |  |  |
| City of New York NY, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series 1 Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 9/1/44 | 1500000 | 1534264 |
| &nbsp;&nbsp;Series B-1 |  |  |
| &nbsp;&nbsp;5.250%, due 10/1/47 | 3000000 | 3066625 |
| Hudson Yards Infrastructure Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 2/15/39 | 1740000 | 1764000 |
| Long Island Power Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;3.000%, due 9/1/49 | 1780000 | 1717822 |
| Metropolitan Transportation Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 11/15/44 | 2000000 | 1992802 |
| &nbsp;&nbsp;5.000%, due 11/15/47 | 1015000 | 989766 |
| &nbsp;&nbsp;Series A1 |  |  |
| &nbsp;&nbsp;5.000%, due 11/15/29 | 500000 | 508512 |
| &nbsp;&nbsp;Series C2 |  |  |
| &nbsp;&nbsp;&nbsp;3.910%, due 11/15/33<sup>(c)</sup> | 1000000 | 725676 |
| &nbsp;&nbsp;Series E1 |  |  |
| &nbsp;&nbsp;&nbsp;2.800%, due 11/15/50<sup>(a)(b)</sup> | 5000000 | 5000000 |
| New York City Housing Development Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Series 2 |  |  |
| &nbsp;&nbsp;&nbsp;3.400%, due 11/1/64<sup>(a)(b)</sup> | 1000000 | 1006529 |
| &nbsp;&nbsp;&nbsp;3.750%, due 5/1/65<sup>(a)(b)</sup> | 1250000 | 1266559 |
| &nbsp;&nbsp;Series 2A Insured: REMIC FHA INS 542(c) |  |  |
| &nbsp;&nbsp;&nbsp;3.400%, due 11/1/62<sup>(a)(b)</sup> | 780000 | 780086 |
| New York City Municipal Water Finance Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, due 6/15/50<sup>(a)(b)</sup> | 5000000 | 5000000 |
| &nbsp;&nbsp;5.000%, due 6/15/48 | 1000000 | 1010578 |
| &nbsp;&nbsp;Series CC |  |  |
| &nbsp;&nbsp;5.000%, due 6/15/46 | 2500000 | 2540233 |

---

<u>Schedule of Investments ─ NYLI MacKay Muni Intermediate ETF (continued)</u> <br> July 31, 2025

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **New York (continued)** |  |  |
| New York City Transitional Finance Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series 1 |  |  |
| &nbsp;&nbsp;5.000%, due 11/1/42 | $1250000 | $1300448 |
| &nbsp;&nbsp;5.000%, due 11/1/46 | 500000 | 508684 |
| &nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;5.250%, due 5/1/48 | 2000000 | 2052325 |
| &nbsp;&nbsp;Series D |  |  |
| &nbsp;&nbsp;5.250%, due 5/1/48 | 1250000 | 1290825 |
| &nbsp;&nbsp;Series E |  |  |
| &nbsp;&nbsp;5.000%, due 11/1/47 | 2850000 | 2886034 |
| New York City Transitional Finance Authority Building Aid Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series S Insured: ST AID WITHHLDG |  |  |
| &nbsp;&nbsp;5.000%, due 7/15/40 | 1500000 | 1500415 |
| New York City Transitional Finance Authority Future Tax Secured Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series 1 |  |  |
| &nbsp;&nbsp;4.000%, due 11/1/38 | 1000000 | 944005 |
| &nbsp;&nbsp;Series A-3 |  |  |
| &nbsp;&nbsp;4.000%, due 5/1/43 | 215000 | 191734 |
| &nbsp;&nbsp;Series E3 |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, due 2/1/45<sup>(a)(b)</sup> | 5000000 | 5000000 |
| New York Energy Finance Development Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 7/1/56<sup>(a)(b)</sup> | 3500000 | 3647781 |
| New York Liberty Development Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;2.450%, due 9/15/69 | 500000 | 462107 |
| &nbsp;&nbsp;Series 1 |  |  |
| &nbsp;&nbsp;5.000%, due 11/15/44 | 5000000 | 4786258 |
| &nbsp;&nbsp;Series 1WTC Insured: BAM |  |  |
| &nbsp;&nbsp;4.000%, due 2/15/43 | 2000000 | 1798273 |
| &nbsp;&nbsp;Series AG Insured: AGM-CR |  |  |
| &nbsp;&nbsp;2.750%, due 11/15/41 | 1070000 | 779072 |
| New York Power Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: AGM |  |  |
| &nbsp;&nbsp;5.000%, due 11/15/36 | 1215000 | 1346073 |
| New York State Dormitory Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 10/1/35 | 1400000 | 1467521 |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;5.250%, due 7/1/41 | 1000000 | 1047221 |
| &nbsp;&nbsp;Insured: AGC |  |  |
| &nbsp;&nbsp;5.250%, due 10/1/43 | 1300000 | 1339319 |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;4.000%, due 3/15/39 | 500000 | 477200 |
| &nbsp;&nbsp;4.000%, due 3/15/41 | 1500000 | 1378259 |
| &nbsp;&nbsp;5.000%, due 7/1/39 | 1220000 | 1235895 |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;5.000%, due 2/15/40 | 815000 | 829697 |
| &nbsp;&nbsp;5.000%, due 2/15/40 | 5000 | 5251 |
| &nbsp;&nbsp;Series E |  |  |
| &nbsp;&nbsp;3.000%, due 3/15/41 | 500000 | 401436 |
| &nbsp;&nbsp;5.000%, due 3/15/41 | 2000000 | 2032237 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **New York (continued)** |  |  |
| New York State Housing Finance Agency, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series 2 |  |  |
| &nbsp;&nbsp;&nbsp;3.350%, due 6/15/54<sup>(a)(b)</sup> | $1000000 | $1002434 |
| &nbsp;&nbsp;Series 2 Insured: SONYMA HUD SECT 8 |  |  |
| &nbsp;&nbsp;&nbsp;3.600%, due 11/1/64<sup>(a)(b)</sup> | 1500000 | 1512058 |
| New York State Thruway Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;4.000%, due 3/15/43 | 1165000 | 1041844 |
| Onondaga Civic Development Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/41 | 500000 | 531522 |
| Triborough Bridge & Tunnel Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series 2 |  |  |
| &nbsp;&nbsp;5.250%, due 5/15/47 | 1250000 | 1284408 |
| &nbsp;&nbsp;Series 3 |  |  |
| &nbsp;&nbsp;5.000%, due 11/15/38 | 1000000 | 1003402 |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 11/15/40 | 2900000 | 2903481 |
| &nbsp;&nbsp;Series AG Insured: AGM-CR |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, due 5/15/45<sup>(a)(b)</sup> | 1345000 | 1290116 |
| Utility Debt Securitization Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series 1 |  |  |
| &nbsp;&nbsp;5.000%, due 12/15/41 | 500000 | 533305 |
|  |  | 78714092 |
| **North Carolina — 2.2%** |  |  |
| Charlotte-Mecklenburg Hospital Authority (The), Revenue Bonds |  |  |
| &nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;&nbsp;2.850%, due 1/15/37<sup>(a)(b)</sup> | 5000000 | 5000000 |
| &nbsp;&nbsp;Series G |  |  |
| &nbsp;&nbsp;&nbsp;2.850%, due 1/15/48<sup>(a)(b)</sup> | 5200000 | 5200000 |
| City of Charlotte NC Airport Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/42 | 1400000 | 1464165 |
| City of Fayetteville NC Public Works Commission Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;2.000%, due 3/1/36 | 3395000 | 2664141 |
| County of Alamance NC, General Obligation Bonds |  |  |
| &nbsp;&nbsp;2.000%, due 5/1/35 | 1500000 | 1215597 |
| County of Gaston NC, General Obligation Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 3/1/39 | 1000000 | 1090994 |
| Nash Health Care Systems, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.500%, due 2/1/44 | 495000 | 514349 |
| North Carolina Housing Finance Agency, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;3.200%, due 7/1/56<sup>(a)(b)</sup> | 1330000 | 1330614 |
| &nbsp;&nbsp;5.500%, due 1/1/54 | 910000 | 975676 |
| &nbsp;&nbsp;Series A Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;6.250%, due 1/1/55 | 990000 | 1101865 |

---

<u>Schedule of Investments ─ NYLI MacKay Muni Intermediate ETF (continued)</u> <br> July 31, 2025

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **North Carolina (continued)** |  |  |
| North Carolina Medical Care Commission, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 6/1/38 | $1100000 | $1185080 |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 6/1/55<sup>(a)(b)</sup> | 1000000 | 1077667 |
|  |  | 22820148 |
| **North Dakota — 0.5%** |  |  |
| City of Grand Forks ND, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: AGM |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/26 | 400000 | 410667 |
| &nbsp;&nbsp;5.000%, due 12/1/27 | 450000 | 470383 |
| &nbsp;&nbsp;5.000%, due 12/1/28 | 500000 | 530650 |
| &nbsp;&nbsp;5.000%, due 12/1/29 | 675000 | 724491 |
| &nbsp;&nbsp;Series AG Insured: AGM-CR |  |  |
| &nbsp;&nbsp;4.000%, due 12/1/37 | 1250000 | 1188102 |
| North Dakota Housing Finance Agency, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;6.250%, due 1/1/55 | 990000 | 1102464 |
| &nbsp;&nbsp;Series D |  |  |
| &nbsp;&nbsp;6.000%, due 7/1/55 | 1000000 | 1106410 |
|  |  | 5533167 |
| **Ohio — 2.1%** |  |  |
| Akron Bath Copley Joint Township Hospital District, Revenue Bonds |  |  |
| &nbsp;&nbsp;4.000%, due 11/15/33 | 1260000 | 1276142 |
| &nbsp;&nbsp;5.000%, due 11/15/29 | 1100000 | 1173281 |
| American Municipal Power, Inc., Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 2/15/41 | 1000000 | 1003050 |
| City of Toledo OH, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AGM |  |  |
| &nbsp;&nbsp;5.250%, due 12/1/36 | 1000000 | 1084483 |
| &nbsp;&nbsp;5.500%, due 12/1/39 | 1330000 | 1430670 |
| City of Upper Arlington OH, General Obligation Bonds |  |  |
| &nbsp;&nbsp;5.250%, due 12/1/35 | 750000 | 756412 |
| Cloverleaf Local School District, Certificates of Participation |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;5.375%, due 12/1/37 | 1000000 | 1040247 |
| County of Fayette OH, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;5.250%, due 12/1/34 | 1000000 | 1114048 |
| County of Franklin OH, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;2.800%, due 11/1/42<sup>(a)(b)</sup> | 5000000 | 5000000 |
| Euclid City School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: SD CRED PROG |  |  |
| &nbsp;&nbsp;5.250%, due 1/15/44 | 1000000 | 1002640 |
| Forest Hills Local School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/44 | 630000 | 630129 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Ohio (continued)** |  |  |
| Ohio Air Quality Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series D |  |  |
| &nbsp;&nbsp;3.200%, due 5/1/26 | $1000000 | $997160 |
| Ohio Housing Finance Agency, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;6.250%, due 3/1/56 | 1000000 | 1107121 |
| &nbsp;&nbsp;Series B Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;6.500%, due 3/1/56 | 1000000 | 1129642 |
| Ohio Water Development Authority Water Pollution Control Loan Fund, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series D |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/37 | 1000000 | 1096284 |
| Springboro Community City School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AGM |  |  |
| &nbsp;&nbsp;5.250%, due 12/1/25 | 1975000 | 1990899 |
|  |  | 21832208 |
| **Oklahoma — 0.2%** |  |  |
| Carter County Public Facilities Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 9/1/32 | 1000000 | 1031490 |
| Oklahoma Housing Finance Agency, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;6.250%, due 9/1/56 | 1000000 | 1122216 |
|  |  | 2153706 |
| **Oregon — 1.5%** |  |  |
| City of Portland OR Sewer System Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/47 | 1680000 | 1696279 |
| Oregon State Lottery, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 4/1/39 | 1250000 | 1358209 |
| &nbsp;&nbsp;5.000%, due 4/1/41 | 2500000 | 2657279 |
| Salem Hospital Facility Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;4.000%, due 5/15/41 | 1000000 | 882712 |
| State of Oregon, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.250%, due 5/1/42 | 2000000 | 2150780 |
| &nbsp;&nbsp;Series D |  |  |
| &nbsp;&nbsp;5.000%, due 5/1/39 | 815000 | 884661 |
| State of Oregon Department of Transportation, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 11/15/42 | 5000000 | 5062339 |
| State of Oregon Housing & Community Services Department, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series C Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;6.500%, due 7/1/54 | 975000 | 1085992 |

---

Schedule of Investments ─ NYLI MacKay Muni Intermediate ETF (continued)

July 31, 2025

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Oregon (continued)** |  |  |
| Washington & Multnomah Counties School District No 48J Beaverton, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: SCH BD GTY |  |  |
| &nbsp;&nbsp;&nbsp;4.800%, due 6/15/40<sup>(c)</sup> | $1000000 | $493715 |
|  |  | 16271966 |
| **Pennsylvania — 3.2%** |  |  |
| Allegheny County Sanitary Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/40 | 500000 | 502733 |
| Chester County Industrial Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 10/1/29 | 350000 | 364439 |
| Coatesville School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;5.250%, due 11/15/37 | 4000000 | 4159934 |
| Commonwealth Financing Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AGM |  |  |
| &nbsp;&nbsp;4.000%, due 6/1/39 | 920000 | 859103 |
| Conrad Weiser Area School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AGM ST AID WITHHLDG |  |  |
| &nbsp;&nbsp;4.000%, due 9/1/34 | 1000000 | 1002988 |
| County of Allegheny PA, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series C76 |  |  |
| &nbsp;&nbsp;5.000%, due 11/1/41 | 1000000 | 1010113 |
| Indiana County Industrial Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 5/1/27 | 250000 | 257298 |
| Pennsylvania Higher Educational Facilities Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 8/15/31 | 450000 | 497647 |
| &nbsp;&nbsp;5.000%, due 8/15/33 | 2000000 | 2231778 |
| &nbsp;&nbsp;Series A Insured: AGC |  |  |
| &nbsp;&nbsp;&nbsp;3.650%, (3 Month CME SOFR + 0.60%), due 7/1/27<sup>(a)(b)</sup> | 60000 | 59425 |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;5.000%, due 10/1/34 | 1000000 | 1003482 |
| Pennsylvania Housing Finance Agency, Revenue Bonds |  |  |
| &nbsp;&nbsp;6.000%, due 10/1/54 | 995000 | 1081461 |
| &nbsp;&nbsp;Insured: FNMA COLL |  |  |
| &nbsp;&nbsp;4.900%, due 6/1/41 | 500000 | 499285 |
| &nbsp;&nbsp;Series 137 |  |  |
| &nbsp;&nbsp;3.000%, due 10/1/51 | 15000000 | 14646132 |
| Pennsylvania Turnpike Commission, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/43 | 1000000 | 1028528 |
| Philadelphia Gas Works Co., Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 10/1/30 | 1435000 | 1467431 |
| Pittsburgh Water & Sewer Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: AGM |  |  |
| &nbsp;&nbsp;5.000%, due 9/1/36 | 1285000 | 1373883 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Pennsylvania (continued)** |  |  |
| Temple University-of The Commonwealth System of Higher Education, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AGC |  |  |
| &nbsp;&nbsp;5.000%, due 4/1/42 | $800000 | $833347 |
| &nbsp;&nbsp;5.000%, due 4/1/45 | 1000000 | 1023261 |
|  |  | 33902268 |
| **Puerto Rico — 0.2%** |  |  |
| Puerto Rico Electric Power Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: NATL |  |  |
| &nbsp;&nbsp;5.250%, due 7/1/35 | 1465000 | 1438745 |
| Puerto Rico Industrial Tourist Educational Medical & Envirml Ctl Facs Fing Auth, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/28 | 400000 | 415669 |
| &nbsp;&nbsp;5.000%, due 7/1/31 | 500000 | 527724 |
|  |  | 2382138 |
| **Rhode Island — 0.2%** |  |  |
| Rhode Island Health and Educational Building Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Series F |  |  |
| &nbsp;&nbsp;5.500%, due 5/15/41 | 180000 | 189853 |
| Rhode Island Housing & Mortgage Finance Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: GNMA COLL |  |  |
| &nbsp;&nbsp;5.250%, due 10/1/49 | 1000000 | 1001592 |
| &nbsp;&nbsp;Series 77-A Insured: GNMA COLL |  |  |
| &nbsp;&nbsp;5.000%, due 10/1/28 | 350000 | 372744 |
| &nbsp;&nbsp;Series A Insured: GNMA COLL |  |  |
| &nbsp;&nbsp;5.000%, due 10/1/41 | 1000000 | 1020955 |
|  |  | 2585144 |
| **South Carolina — 1.9%** |  |  |
| Patriots Energy Group Financing Agency, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series 2 |  |  |
| &nbsp;&nbsp;&nbsp;4.821%, (SOFR + 1.90%), due 2/1/54<sup>(a)(b)</sup> | 6000000 | 6203146 |
| South Carolina Jobs-Economic Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 3/1/62<sup>(a)(b)</sup> | 1000000 | 964363 |
| &nbsp;&nbsp;Series AG Insured: AGC-CR |  |  |
| &nbsp;&nbsp;4.000%, due 11/1/42 | 1000000 | 922990 |
| South Carolina Public Service Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/45 | 2000000 | 2004948 |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/36 | 100000 | 100179 |
| &nbsp;&nbsp;5.000%, due 12/1/46 | 750000 | 748566 |
| &nbsp;&nbsp;Series B Insured: AGM |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/40 | 1120000 | 1170700 |
| &nbsp;&nbsp;Series E Insured: AGM |  |  |
| &nbsp;&nbsp;5.250%, due 12/1/37 | 2000000 | 2152860 |

---

Schedule of Investments ─ NYLI MacKay Muni Intermediate ETF (continued)

July 31, 2025

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **South Carolina (continued)** |  |  |
| South Carolina State Housing Finance & Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: HUD SECT 202 |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 10/1/26<sup>(a)(b)</sup> | $1000000 | $1003152 |
| &nbsp;&nbsp;Series A Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;4.150%, due 7/1/40 | 1000000 | 959575 |
| &nbsp;&nbsp;6.500%, due 7/1/55 | 995000 | 1127352 |
| &nbsp;&nbsp;Series B Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;6.500%, due 7/1/55 | 1000000 | 1132240 |
| Spartanburg County School District No 4, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: SCSDE |  |  |
| &nbsp;&nbsp;5.000%, due 3/1/42 | 1945000 | 2008244 |
|  |  | 20498315 |
| **South Dakota — 0.1%** |  |  |
| South Dakota Housing Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series C Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;6.250%, due 11/1/55 | 995000 | 1106421 |
| **Tennessee — 1.7%** |  |  |
| City of Memphis TN Sanitary Sewerage System Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AGC |  |  |
| &nbsp;&nbsp;5.000%, due 6/1/42 | 3000000 | 3116012 |
| &nbsp;&nbsp;5.000%, due 6/1/43 | 3145000 | 3245778 |
| Health Educational and Housing Facility Board of the City of Memphis/the, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: FHA 221(D)(4) HUD SECT 8 |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 7/1/27<sup>(a)(b)</sup> | 785000 | 799528 |
| &nbsp;&nbsp;&nbsp;5.000%, due 7/1/27<sup>(a)(b)</sup> | 520000 | 529623 |
| Metropolitan Government Nashville & Davidson County Health & Educational Facs Bd, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;3.600%, due 2/1/45<sup>(a)(b)</sup> | 3000000 | 3049313 |
| Metropolitan Knoxville Airport Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: AGC |  |  |
| &nbsp;&nbsp;5.000%, due 6/1/44 | 1000000 | 1013639 |
| Shelby County Health Educational & Housing Facilities Board, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: AG |  |  |
| &nbsp;&nbsp;5.000%, due 6/1/35 | 2300000 | 2458525 |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 9/1/49<sup>(a)(b)</sup> | 1300000 | 1369578 |
| Tennergy Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 12/1/51<sup>(a)(b)</sup> | 1070000 | 1075645 |
| Tennessee Housing Development Agency, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, due 1/1/56<sup>(a)(b)</sup> | 1365000 | 1365314 |
|  |  | 18022955 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Texas — 13.6%** |  |  |
| Alamito Public Facility Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: HUD SECT 8 |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 8/1/44<sup>(a)(b)</sup> | $1000000 | $1009513 |
| Arlington Higher Education Finance Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: PSF-GTD |  |  |
| &nbsp;&nbsp;4.000%, due 2/15/44 | 1590000 | 1420638 |
| &nbsp;&nbsp;Series A Insured: PSF-GTD |  |  |
| &nbsp;&nbsp;5.000%, due 8/15/32 | 2200000 | 2451048 |
| Arlington Independent School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: PSF-GTD |  |  |
| &nbsp;&nbsp;5.000%, due 2/15/39 | 1500000 | 1507309 |
| Barbers Hill Independent School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: PSF-GTD |  |  |
| &nbsp;&nbsp;4.000%, due 2/15/41 | 1000000 | 954478 |
| Central Texas Turnpike System, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 8/15/42<sup>(a)(b)</sup> | 1000000 | 1071893 |
| &nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;5.000%, due 8/15/34 | 1000000 | 1109007 |
| City of Amarillo TX Waterworks & Sewer System Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;4.000%, due 4/1/41 | 1360000 | 1240035 |
| City of Arlington TX Special Tax Revenue, Special Tax |  |  |
| &nbsp;&nbsp;Series A Insured: AGM |  |  |
| &nbsp;&nbsp;5.000%, due 2/15/43 | 250000 | 250353 |
| City of Austin TX Electric Utility Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 11/15/45 | 1455000 | 1455611 |
| City of College Station TX, General Obligation Bonds |  |  |
| &nbsp;&nbsp;2.125%, due 2/15/39 | 1020000 | 730398 |
| City of Corpus Christi TX Utility System Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 7/15/28 | 1000000 | 1065441 |
| &nbsp;&nbsp;5.000%, due 7/15/32 | 1000000 | 1110299 |
| &nbsp;&nbsp;5.000%, due 7/15/40 | 1000000 | 1049016 |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;5.000%, due 7/15/30 | 1000000 | 1102140 |
| &nbsp;&nbsp;5.000%, due 7/15/31 | 1455000 | 1610533 |
| City of Fort Worth TX, General Obligation Bonds |  |  |
| &nbsp;&nbsp;2.000%, due 3/1/40 | 500000 | 335668 |
| City of Galveston TX Wharves & Terminal Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;5.250%, due 8/1/43 | 1000000 | 1030712 |
| City of Georgetown TX Utility System Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AGM |  |  |
| &nbsp;&nbsp;5.000%, due 8/15/26 | 1000000 | 1023970 |
| City of San Antonio TX Electric & Gas Systems Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;5.000%, due 2/1/33 | 1500000 | 1669647 |

---

Schedule of Investments ─ NYLI MacKay Muni Intermediate ETF (continued)

July 31, 2025

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Texas (continued)** |  |  |
| County of Parker TX, General Obligation Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 2/15/42 | $6625000 | $6661810 |
| Dallas College, General Obligation Bonds |  |  |
| &nbsp;&nbsp;3.000%, due 2/15/28 | 1575000 | 1578364 |
| Dallas Independent School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: PSF-GTD |  |  |
| &nbsp;&nbsp;2.000%, due 2/15/42 | 1500000 | 955005 |
| Del Valle Independent School District TX, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: PSF-GTD |  |  |
| &nbsp;&nbsp;2.000%, due 6/15/39 | 1000000 | 714581 |
| Denton Independent School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: PSF-GTD |  |  |
| &nbsp;&nbsp;5.000%, due 8/15/41 | 1055000 | 1098538 |
| &nbsp;&nbsp;Series B2 Insured: PSF-GTD |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 8/15/55<sup>(a)(b)</sup> | 2500000 | 2580199 |
| Edinburg Consolidated Independent School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: PSF-GTD |  |  |
| &nbsp;&nbsp;5.000%, due 2/15/35 | 1235000 | 1245424 |
| Fort Bend Independent School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series B Insured: PSF-GTD |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 8/1/54<sup>(a)(b)</sup> | 1300000 | 1327000 |
| Georgetown Independent School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: PSF-GTD |  |  |
| &nbsp;&nbsp;3.000%, due 8/15/41 | 2670000 | 2126943 |
| Guadalupe-Blanco River Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;6.000%, due 8/15/42 | 1980000 | 2138290 |
| Harris County Health Facilities Development Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Series RF |  |  |
| &nbsp;&nbsp;&nbsp;2.800%, due 12/1/41<sup>(a)(b)</sup> | 5000000 | 5000000 |
| Harris County Municipal Utility District No 423, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: BAM |  |  |
| &nbsp;&nbsp;6.500%, due 4/1/28 | 300000 | 316507 |
| &nbsp;&nbsp;6.500%, due 4/1/29 | 325000 | 342402 |
| Harris County Municipal Utility District No 43, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AGM |  |  |
| &nbsp;&nbsp;6.250%, due 9/1/32 | 2010000 | 2191113 |
| Harris County Municipal Utility District No 489, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: AGM |  |  |
| &nbsp;&nbsp;6.500%, due 9/1/29 | 1000000 | 1066182 |
| Harris County Water Control & Improvement District No 159, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;6.375%, due 9/1/30 | 1600000 | 1717333 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Texas (continued)** |  |  |
| Hays Consolidated Independent School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: PSF-GTD |  |  |
| &nbsp;&nbsp;4.000%, due 2/15/43 | $1000000 | $907150 |
| Housing Options, Inc., Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: HUD SECT 8 |  |  |
| &nbsp;&nbsp;&nbsp;3.050%, due 2/1/45<sup>(a)(b)</sup> | 3850000 | 3851950 |
| Housing Synergy PFC, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: FHA 221(D)(4) HUD SECT 8 |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 2/1/27<sup>(a)(b)</sup> | 1000000 | 1009929 |
| Houston Higher Education Finance Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: PSF-GTD |  |  |
| &nbsp;&nbsp;4.000%, due 2/15/39 | 1915000 | 1810550 |
| Irving Independent School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: PSF-GTD |  |  |
| &nbsp;&nbsp;5.000%, due 2/15/38 | 1490000 | 1577213 |
| Kerrville Public Utility Board Public Facility Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 4/15/32 | 1785000 | 1972384 |
| &nbsp;&nbsp;5.000%, due 4/15/33 | 1880000 | 2078710 |
| &nbsp;&nbsp;5.000%, due 4/15/34 | 1980000 | 2183399 |
| &nbsp;&nbsp;5.000%, due 4/15/35 | 2075000 | 2277202 |
| &nbsp;&nbsp;5.000%, due 4/15/36 | 2170000 | 2350345 |
| &nbsp;&nbsp;5.000%, due 4/15/37 | 1135000 | 1216293 |
| &nbsp;&nbsp;5.000%, due 4/15/38 | 1200000 | 1272738 |
| &nbsp;&nbsp;5.000%, due 4/15/39 | 1250000 | 1312666 |
| &nbsp;&nbsp;5.000%, due 4/15/40 | 1320000 | 1369932 |
| &nbsp;&nbsp;5.250%, due 4/15/45 | 3905000 | 4018997 |
| Laredo Independent School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: PSF-GTD |  |  |
| &nbsp;&nbsp;5.000%, due 8/1/29 | 650000 | 705276 |
| Leander Independent School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: PSF-GTD |  |  |
| &nbsp;&nbsp;&nbsp;3.200%, due 8/15/30<sup>(c)</sup> | 575000 | 490043 |
| &nbsp;&nbsp;&nbsp;3.620%, due 8/15/33<sup>(c)</sup> | 1000000 | 749291 |
| Lewisville Independent School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: PSF-GTD |  |  |
| &nbsp;&nbsp;3.125%, due 8/15/34 | 1000000 | 942593 |
| Mansfield Independent School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: PSF-GTD |  |  |
| &nbsp;&nbsp;5.000%, due 2/15/39 | 5280000 | 5656636 |
| &nbsp;&nbsp;5.000%, due 2/15/40 | 5325000 | 5638646 |
| &nbsp;&nbsp;5.000%, due 2/15/41 | 3575000 | 3757724 |
| Matagorda County Navigation District No 1, Revenue Bonds |  |  |
| &nbsp;&nbsp;2.600%, due 11/1/29 | 1000000 | 962798 |
| &nbsp;&nbsp;Series 2 |  |  |
| &nbsp;&nbsp;4.000%, due 6/1/30 | 1020000 | 1020316 |
| Mesquite Independent School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: PSF-GTD |  |  |
| &nbsp;&nbsp;4.000%, due 8/15/36 | 1590000 | 1590821 |

---

Schedule of Investments ─ NYLI MacKay Muni Intermediate ETF (continued)

July 31, 2025

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Texas (continued)** |  |  |
| Montgomery County Municipal Utility District No 95, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 9/1/41 | $560000 | $549591 |
| New Hope Cultural Education Facilities Finance Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 11/1/40 | 2000000 | 2007943 |
| North Texas Municipal Water District Water System Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 9/1/31 | 3000000 | 3353843 |
| North Texas Tollway Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.250%, due 1/1/38 | 1000000 | 1068189 |
| Pecos Barstow Toyah Independent School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: PSF-GTD |  |  |
| &nbsp;&nbsp;5.000%, due 2/15/35 | 1000000 | 1035322 |
| &nbsp;&nbsp;5.000%, due 2/15/39 | 2000000 | 2009746 |
| &nbsp;&nbsp;5.000%, due 2/15/41 | 1500000 | 1504852 |
| Prosper Independent School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: PSF-GTD |  |  |
| &nbsp;&nbsp;3.000%, due 2/15/40 | 1000000 | 835617 |
| Sabine-Neches Navigation District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;5.250%, due 2/15/37 | 1000000 | 1065555 |
| &nbsp;&nbsp;5.250%, due 2/15/41 | 2000000 | 2064460 |
| Sherman Independent School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: PSF-GTD |  |  |
| &nbsp;&nbsp;5.000%, due 2/15/38 | 1250000 | 1340492 |
| Tarrant County Cultural Education Facilities Finance Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;2.100%, due 8/1/50<sup>(a)(b)</sup> | 100000 | 100000 |
| &nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 11/15/64<sup>(a)(b)</sup> | 6000000 | 6571726 |
| Texas Department of Housing & Community Affairs, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: GNMA |  |  |
| &nbsp;&nbsp;3.000%, due 9/1/45 | 2000000 | 1483726 |
| &nbsp;&nbsp;Series A Insured: GNMA COLL |  |  |
| &nbsp;&nbsp;5.750%, due 1/1/56 | 1020000 | 1119562 |
| Texas Municipal Gas Acquisition & Supply Corp. V, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 1/1/55<sup>(a)(b)</sup> | 6000000 | 6314699 |
| Texas Municipal Gas Acquisition and Supply Corp. II, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;&nbsp;3.713%, (3 Month CME SOFR + 0.86%), due 9/15/27<sup>(a)(b)</sup> | 1475000 | 1477391 |
| Texas Private Activity Bond Surface Transportation Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;4.000%, due 6/30/33 | 500000 | 500583 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Texas (continued)** |  |  |
| Texas Public Finance Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 5/1/31 | $1500000 | $1620158 |
| Texas State Technical College, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AGM |  |  |
| &nbsp;&nbsp;5.000%, due 8/1/25 | 1450000 | 1450000 |
| Texas Water Development Board, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 10/15/47 | 500000 | 504325 |
| Uptown Development Authority, Tax Allocation |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 9/1/35 | 500000 | 501835 |
| Willis Independent School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: PSF-GTD |  |  |
| &nbsp;&nbsp;2.000%, due 2/15/40 | 920000 | 632765 |
|  |  | 144093382 |
| **Utah — 2.8%** |  |  |
| Canyons School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: SCH BD GTY |  |  |
| &nbsp;&nbsp;1.500%, due 6/15/35 | 1830000 | 1352897 |
| County of Iron UT Sales Tax Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 10/1/49 | 1300000 | 1305386 |
| County of Salt Lake UT, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;2.300%, due 12/15/28 | 1325000 | 1303296 |
| County of Utah UT, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;5.000%, due 5/15/46 | 2070000 | 2026772 |
| Downtown Revitalization Public Infrastructure District, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: AG |  |  |
| &nbsp;&nbsp;5.000%, due 6/1/34 | 1250000 | 1391470 |
| Intermountain Power Agency, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/37 | 970000 | 1018248 |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/36 | 1035000 | 1103369 |
| &nbsp;&nbsp;5.000%, due 7/1/39 | 715000 | 742641 |
| &nbsp;&nbsp;5.000%, due 7/1/41 | 1045000 | 1064250 |
| Utah Associated Municipal Power Systems, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 9/1/31 | 500000 | 521208 |
| Utah Charter School Finance Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: BAM-TCRS UT CSCE |  |  |
| &nbsp;&nbsp;4.000%, due 4/15/40 | 250000 | 227495 |
| Utah Housing Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: FHLMC COLL |  |  |
| &nbsp;&nbsp;3.400%, due 7/1/30 | 3000000 | 2999964 |
| &nbsp;&nbsp;Series A Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;6.500%, due 1/1/54 | 2155000 | 2363620 |

---

Schedule of Investments ─ NYLI MacKay Muni Intermediate ETF (continued)

July 31, 2025

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Utah (continued)** |  |  |
| &nbsp;&nbsp;6.500%, due 7/1/55 | $995000 | $1111670 |
| &nbsp;&nbsp;Series E Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;6.750%, due 7/1/55 | 4200000 | 4797983 |
| Utah Infrastructure Agency, Revenue Bonds |  |  |
| &nbsp;&nbsp;4.000%, due 10/15/28 | 350000 | 353315 |
| &nbsp;&nbsp;4.000%, due 10/15/32 | 500000 | 494018 |
| &nbsp;&nbsp;4.000%, due 10/15/32 | 690000 | 689826 |
| &nbsp;&nbsp;4.000%, due 10/15/36 | 1000000 | 952989 |
| &nbsp;&nbsp;4.000%, due 10/15/38 | 645000 | 589029 |
| &nbsp;&nbsp;5.000%, due 10/15/32 | 100000 | 106043 |
| &nbsp;&nbsp;5.500%, due 10/15/33 | 1000000 | 1107153 |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 10/15/34 | 400000 | 407047 |
| Utah Transit Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 12/15/42 | 1250000 | 1316696 |
|  |  | 29346385 |
| **Virginia — 1.6%** |  |  |
| Arlington County Industrial Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 1/1/26 | 1250000 | 1261704 |
| City of Harrisonburg VA, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: ST AID WITHHLDG |  |  |
| &nbsp;&nbsp;1.750%, due 7/15/35 | 2500000 | 1936887 |
| City of Newport News VA Water Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;1.750%, due 7/15/36 | 3080000 | 2284109 |
| County of Fairfax VA, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: ST AID WITHHLDG |  |  |
| &nbsp;&nbsp;4.000%, due 10/1/28 | 655000 | 661340 |
| Halifax County Industrial Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;3.800%, due 12/1/41<sup>(a)(b)</sup> | 1500000 | 1522579 |
| Isle Wight County Industrial Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Insured: AGM |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/37 | 1000000 | 1069011 |
| &nbsp;&nbsp;5.000%, due 7/1/38 | 600000 | 633685 |
| Norfolk Airport Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/28 | 150000 | 159054 |
| Virginia Housing Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series F |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, due 7/1/55<sup>(a)(b)</sup> | 900000 | 899923 |
| Virginia Public Building Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 8/1/29 | 2000000 | 2003716 |
| Williamsburg Economic Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: AGM |  |  |
| &nbsp;&nbsp;4.000%, due 7/1/42 | 1000000 | 916320 |
| Winchester Economic Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 1/1/30 | 1440000 | 1566861 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Virginia (continued)** |  |  |
| Wise County Industrial Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;0.750%, due 10/1/40<sup>(a)(b)</sup> | $1500000 | $1495049 |
|  |  | 16410238 |
| **Washington — 1.1%** |  |  |
| County of King WA Sewer Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;2.520%, (Municipal Swap Index + 0.23%), due 1/1/40<sup>(a)(b)</sup> | 3000000 | 2964858 |
| Seattle Housing Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;1.000%, due 6/1/26 | 270000 | 263955 |
| State of Washington, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Series R |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/41 | 1420000 | 1485038 |
| Washington Health Care Facilities Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;4.000%, due 3/1/41 | 400000 | 366110 |
| &nbsp;&nbsp;Series B Insured: AG |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 8/15/55<sup>(a)(b)</sup> | 4000000 | 4279230 |
| Washington State Housing Finance Commission, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series 1 |  |  |
| &nbsp;&nbsp;4.085%, due 3/1/50 | 994954 | 915073 |
| &nbsp;&nbsp;Series A Insured: BAM |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/40 | 1000000 | 1024005 |
|  |  | 11298269 |
| **West Virginia — 0.9%** |  |  |
| West Virginia Economic Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, due 3/1/40<sup>(a)(b)</sup> | 1000000 | 1004992 |
| West Virginia Hospital Finance Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 9/1/39 | 1500000 | 1502218 |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 6/1/36 | 1000000 | 1074189 |
| &nbsp;&nbsp;5.000%, due 6/1/38 | 1000000 | 1050806 |
| &nbsp;&nbsp;5.250%, due 6/1/42 | 1000000 | 1033009 |
| &nbsp;&nbsp;5.250%, due 6/1/45 | 1000000 | 1015511 |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 6/1/55<sup>(a)(b)</sup> | 1000000 | 1064700 |
| &nbsp;&nbsp;Series B Insured: AGM |  |  |
| &nbsp;&nbsp;5.125%, due 9/1/42 | 1250000 | 1287303 |
|  |  | 9032728 |
| **Wisconsin — 1.1%** |  |  |
| Hudson School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;2.250%, due 3/1/27 | 500000 | 493317 |
| Public Finance Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 3/1/41 | 1000000 | 1002333 |
| &nbsp;&nbsp;5.000%, due 3/1/46 | 3000000 | 2988929 |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;5.000%, due 6/15/34 | 300000 | 322361 |

---

Schedule of Investments ─ NYLI MacKay Muni Intermediate ETF (continued)

July 31, 2025

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Wisconsin (continued)** |  |  |
| &nbsp;&nbsp;5.250%, due 6/15/45 | $150000 | $150368 |
| Sparta Area School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;3.000%, due 3/1/38 | 1110000 | 932418 |
| Wisconsin Housing & Economic Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: HUD SECT 8 |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 12/1/27<sup>(a)(b)</sup> | 3500000 | 3594668 |
| Wisconsin Housing & Economic Development Authority Home Ownership Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;3.625%, due 3/1/34 | 1000000 | 979617 |
| &nbsp;&nbsp;Series B Insured: FNMA/GNMA/FHLMC |  |  |
| &nbsp;&nbsp;4.250%, due 9/1/44 | 500000 | 447491 |
| &nbsp;&nbsp;5.000%, due 9/1/39 | 1000000 | 1033259 |
|  |  | 11944761 |
| **Wyoming — 0.5%** |  |  |
| County of Campbell WY, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;3.625%, due 7/15/39 | 1170000 | 1011647 |
| Sweetwater County 2023 Specific Purpose Tax Joint Powers Board, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series AG Insured: AGM-CR |  |  |
| &nbsp;&nbsp;5.000%, due 6/15/28 | 3000000 | 3188592 |
| Wyoming Community Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;Series 1 Insured: GNMA/FNMA/FHLMC |  |  |
| &nbsp;&nbsp;4.300%, due 12/1/40 | 1000000 | 967358 |
|  |  | 5167597 |
| **Total Municipal Bonds** |  |  |
| &nbsp;&nbsp;**(Cost $1,061,033,102)** |  | **1057566189** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Short-Term Investment — 0.8%** |  |  |
| **Money Market Fund — 0.8%** |  |  |
| Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 4.29%<sup>(e)</sup> |  |  |
| **(Cost $8,620,548)** | 8620548 | **8620548** |
| **Total Investments — 100.6%<br> (Cost $1,069,653,650)** |  | **1066186737** |
| **Other Assets and Liabilities, <br> Net — (0.6)%** |  | **(6339616)** |
| **Net Assets — 100.0%** |  | $**1059847121** |

---

(a) Variable rate securities that
 may be tendered back to the issuer at any time prior to maturity at par. Rate shown is the rate in effect as of July 31, 2025.

(b) Adjustable rate security with an interest rate
 that is not based on a published reference index and spread. The rate is based on the structure of the agreement and current
 market conditions.

(c) The security was issued on a discount basis with
 no stated coupon rate. Rate shown reflects the effective yield.

(d) Less than 0.05%.

(e) Reflects the 7-day yield at July 31, 2025.

---

| | |
|:---|:---|
| **Abbreviations** | **Abbreviations** |
| AGC | - Assured Guaranty Corp. |
| AGM | - Assured Guaranty Municipal Corp. |
| BAM | - Build America Mutual Assurance Co. |
| CR | - Custodial Receipts |
| HUD SECT 8 | - Housing and Urban Development Section 8. |
| NATL | - National Public Finance Guarantee Corp. |
| PSF-GTD | - Permanent School Fund Guaranteed. |
| Q-SBLF | - Qualified School Bond Loan Fund |
| SCH BD GTY | - School Bond Guaranty Program |
| SCSDE | - South Carolina Department of Education |
| SD CRED PROG | - School District Credit Enhancement Program |
| SOFR | - Secured Financing Overnight Rate |
| ST AID WITHHLDG | - State Aid Withholding |
| ST INTERCEPT | - State Tax Intercept |
| TCRS | - Transferable Custodial Receipts |
| UT CSCE | - Utah Charter School Credit Enhancement |

---

Schedule of Investments ─ NYLI MacKay Muni Intermediate ETF (continued)

July 31, 2025 (unaudited)

The following is a summary of the inputs used to value the Fund's investments as of July 31, 2025. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to the Fund's most recent semi-annual or annual financial statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities:<sup>(a)</sup> |  |  |  |  |
| &nbsp;&nbsp;Municipal Bonds | $— | $1057566189 | $— | $1057566189 |
| Short-Term Investment: |  |  |  |  |
| &nbsp;&nbsp;Money Market Fund | 8620548 |  |  | 8620548 |
| Total Investments in Securities | $8620548 | $1057566189 | $— | $1066186737 |

---

(a) For
 a complete listing of investments and their states, see the Schedule of Investments.

For the period ended July 31, 2025, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** New York Life Investments Active ETF Trust

- **b. Investment Company Act file number:** 811-22739

- **c. CIK number of Registrant:** 0001426439

- **d. LEI of Registrant:** 549300VWZDQ61K9DOP39

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

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

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10010

  - **Telephone number:** 888-474-7725

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

- **a. Name of Series:** NYLI MacKay Muni Intermediate ETF

- **b. EDGAR series identifier (if any):** S000057661

- **c. LEI of Series:** 5493000OQOCJBWLENV85

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

- **a. Date of fiscal year-end:** 2026-04-30

- **b. Date as of which information is reported:** 2025-07-31

**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:** $1080552955.34

**Total Liabilities:** $20705828.83

**Net Assets:** $1059847126.51

**Delayed Delivery Securities:** $15198628.96

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 1568.51427000 | **1-Year:** 32273.18774000 | **5-Year:** 172136.08382000 | **10-Year:** 468662.03505000 | **30-Year:** 25276.70952000

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000184311 | 0.14%                | 0.77%                | 0.04%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-950578.60              | $-623517.05                                |
| Month 2  | $-828466.28              | $5104122.91                                |
| Month 3  | $-114283.42              | $-2719644.41                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| UPPER ARLINGTON OH                 | City of Upper Arlington OH                                                       | CUSIP: 915489D47<br>LEI: 5493002KHBEUI9TNXM57 | Long             | DBT              | MUN               | US        |    750000 | PA      | $756412.43    | 0.07%             | 2035-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DENTON TX INDEP SCH DIST           | Denton Independent School District                                               | CUSIP: 249002LY0<br>LEI: 5493005I9W678SUI0Z07 | Long             | DBT              | MUN               | US        |   1055000 | PA      | $1098537.63   | 0.10%             | 2041-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORT PIERCE FL UTILITIES AUTH      | Fort Pierce Utilities Authority                                                  | CUSIP: 348430PG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $439932.28    | 0.04%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STHRN CA PUBLIC PWR AUTH REVEN     | Southern California Public Power Authority                                       | CUSIP: 84247PNL1<br>LEI: 5493003B5TD5FWUKMD34 | Long             | DBT              | MUN               | US        |    420000 | PA      | $464585.98    | 0.04%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY HSG DEV CORP      | New York City Housing Development Corp                                           | CUSIP: 64972E3D9<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    780000 | PA      | $780086.11    | 0.07%             | 2062-11-01      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| GUAM PWR AUTH REVENUE              | Guam Power Authority                                                             | CUSIP: 400653JL6<br>LEI: 549300IPOV320QCKW060 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $995123.10    | 0.09%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST TRANSPRTN COMMISSION      | Central Texas Turnpike System                                                    | CUSIP: 88283KBZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1109007.50   | 0.10%             | 2034-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EDINBURG TX CONSOL INDEP SCH D     | Edinburg Consolidated Independent School District/TX                             | CUSIP: 280785TH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1235000 | PA      | $1245423.77   | 0.12%             | 2035-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REGL TRANSPRTN DIST CO COPS        | Regional Transportation District                                                 | CUSIP: 75913TLN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1596580.80   | 0.15%             | 2040-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCK ISLAND & MERCER CNTYS ILC     | Rock Island & Mercer Counties Community Unit School District No 300              | CUSIP: 772283EA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    555000 | PA      | $561684.48    | 0.05%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JOLIET IL                          | City of Joliet IL                                                                | CUSIP: 479754NM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1038693.90   | 0.10%             | 2038-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MOBILE AL INDL DEV BRD POLL CO     | Industrial Development Board of the City of Mobile Alabama                       | CUSIP: 607167EA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2020937.80   | 0.19%             | 2034-06-01      | Variable      | 3.38%                 | No            |                  2 | On Loan: No      |
| AKRON BATH COPLEY JT TWP OH HO     | Akron Bath Copley Joint Township Hospital District                               | CUSIP: 009730PQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1276141.86   | 0.12%             | 2033-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST HSG FIN & DE     | South Carolina State Housing Finance & Development Authority                     | CUSIP: 83712D7L4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $959575.20    | 0.09%             | 2040-07-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| GRAND FORKS ND HLTH CARE SYS R     | City of Grand Forks ND                                                           | CUSIP: 38546WDW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $470383.38    | 0.04%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GENESEE CNTY MI                    | County of Genesee MI                                                             | CUSIP: 371608VZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     90000 | PA      | $95683.63     | 0.01%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GASTON CNTY NC                     | County of Gaston NC                                                              | CUSIP: 367298A22<br>LEI: 549300RQ7QXM9RXM7Z26 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1090994.30   | 0.10%             | 2039-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dreyfus Government Cash Management | Dreyfus Government Cash Management                                               | CUSIP: 262006208<br>LEI: 5493000Q69I5Q3QZIA91 | Long             | STIV             | RF                | US        |   8620548 | NS      | $8620548.32   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| E-470 CO PUBLIC HIGHWAY AUTH       | E-470 Public Highway Authority                                                   | CUSIP: 26822LMW1<br>LEI: 549300164ZV2301BC703 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1051877.80   | 0.10%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST TOLL HIGHWAY AUTH      | Illinois State Toll Highway Authority                                            | CUSIP: 452252JV2<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |   2130000 | PA      | $2129913.52   | 0.20%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CASTLE ROCK CO COPS                | Town of Castle Rock CO                                                           | CUSIP: 14848PBV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1670000 | PA      | $1724190.50   | 0.16%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HUDSON YARDS INFRASTRUCTURE CO     | Hudson Yards Infrastructure Corp                                                 | CUSIP: 44420RBD1<br>LEI: 549300EE2HJ67TPURL87 | Long             | DBT              | MUN               | US        |   1740000 | PA      | $1764000.34   | 0.17%             | 2039-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY AZ INDL DEV AUTH     | Maricopa County Industrial Development Authority                                 | CUSIP: 56681NCL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $302790.87    | 0.03%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STHRN CALIFORNIA ST PUBLIC PWR     | Southern California Public Power Authority                                       | CUSIP: 842469CR7<br>LEI: 5493003B5TD5FWUKMD34 | Long             | DBT              | MUN               | US        |    310000 | PA      | $335660.28    | 0.03%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WILL CNTY IL SCH DIST #114 MAN     | Will County School District No 114 Manhattan                                     | CUSIP: 968838JU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    555000 | PA      | $592348.73    | 0.06%             | 2039-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA WTR & WSTWTR REVENU     | City of Atlanta GA Water & Wastewater Revenue                                    | CUSIP: 047870NE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2499844.00   | 0.24%             | 2040-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH MU     | California Municipal Finance Authority                                           | CUSIP: 13050WAA9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | ABS-MBS          | MUN               | US        |   2994912 | PA      | $2638392.54   | 0.25%             | 2041-02-20      | Variable      | 3.44%                 | No            |                  2 | On Loan: No      |
| PATRIOTS ENERGY GROUP FING AGY     | Patriots Energy Group Financing Agency                                           | CUSIP: 70342PAS3<br>LEI: 5493008X0DFBVFH4HL19 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6203146.20   | 0.59%             | 2054-02-01      | Variable      | 4.82%                 | No            |                  2 | On Loan: No      |
| CORPUS CHRISTI TX UTILITY SYSR     | City of Corpus Christi TX Utility System Revenue                                 | CUSIP: 220245Z72<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1110299.40   | 0.10%             | 2032-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL      | New York City Transitional Finance Authority Building Aid Revenue                | CUSIP: 64972HXV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1500415.05   | 0.14%             | 2040-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL      | Metropolitan Pier & Exposition Authority                                         | CUSIP: 592250FH2<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1561187.85   | 0.15%             | 2028-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL      | Black Belt Energy Gas District                                                   | CUSIP: 09182TDL8<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1495000 | PA      | $1577605.78   | 0.15%             | 2055-05-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY MUNI WTR FIN      | New York City Municipal Water Finance Authority                                  | CUSIP: 64972GN26<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2540232.75   | 0.24%             | 2046-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PECOS BARSTOW TOYAH TX INDEP S     | Pecos Barstow Toyah Independent School District                                  | CUSIP: 705227HK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1035321.60   | 0.10%             | 2035-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA     | Main Street Natural Gas Inc                                                      | CUSIP: 56035DDH2<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1515834.60   | 0.14%             | 2052-07-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH HSG CORP SF MTGE REVENUE      | Utah Housing Corp                                                                | CUSIP: 917437EP6<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |   2155000 | PA      | $2363619.95   | 0.22%             | 2054-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| DES MOINES IA                      | City of Des Moines IA                                                            | CUSIP: 25009XSR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2020000 | PA      | $1614134.73   | 0.15%             | 2035-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS IN LOCAL PUBLIC I     | Indianapolis Local Public Improvement Bond Bank                                  | CUSIP: 45527CEB4<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1577762.85   | 0.15%             | 2040-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL HSG FIN AUT     | Miami-Dade County Housing Finance Authority                                      | CUSIP: 593344BZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $945871.70    | 0.09%             | 2046-03-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| PHELPS CNTY MO HOSP REVENUE        | County of Phelps MO                                                              | CUSIP: 717252CX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1915000 | PA      | $1965071.89   | 0.19%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS WTR DEV BRD REVENUE          | Texas Water Development Board                                                    | CUSIP: 88285ABH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $504325.05    | 0.05%             | 2047-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST HSG DEV AUTH MF HS     | Illinois Housing Development Authority                                           | CUSIP: 45203LEX7<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3010776.30   | 0.28%             | 2067-12-01      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| WESTFIELD-WASHINGTON IN MULTI-     | Westfield-Washington Multi-School Building Corp                                  | CUSIP: 96023PPH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1034795.00   | 0.10%             | 2044-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST HLTH & HGR EDUCTNL     | Maryland Health & Higher Educational Facilities Authority                        | CUSIP: 57421CJP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3710000 | PA      | $4037482.07   | 0.38%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZATION CORP      | Sales Tax Securitization Corp                                                    | CUSIP: 79467BCG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1575182.10   | 0.15%             | 2036-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CANYONS UT SCH DIST                | Canyons School District                                                          | CUSIP: 139078GB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1830000 | PA      | $1352897.22   | 0.13%             | 2035-06-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST PUBLIC BLDG AUTH P     | Virginia Public Building Authority                                               | CUSIP: 928172J97<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2003716.40   | 0.19%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE     | South Carolina Jobs-Economic Development Authority                               | CUSIP: 837032CU3<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $922989.60    | 0.09%             | 2042-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE ST HSG AUTH REVENUE       | Delaware State Housing Authority                                                 | CUSIP: 246395ZM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1110000 | PA      | $1204709.97   | 0.11%             | 2055-01-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| UTAH INFRASTRUCTURE AGY TELECO     | Utah Infrastructure Agency                                                       | CUSIP: 917467AG7<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |    400000 | PA      | $407046.40    | 0.04%             | 2034-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AGY FL REVENUE       | Capital Trust Agency Inc                                                         | CUSIP: 14052WBB2<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    845000 | PA      | $846149.79    | 0.08%             | 2029-07-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| TOLEDO OH                          | City of Toledo OH                                                                | CUSIP: 889278ZS9<br>LEI: 549300I365GIDPR4BM68 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1084482.50   | 0.10%             | 2036-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| KERRVILLE TX PUBLIC UTILITY BR     | Kerrville Public Utility Board Public Facility Corp                              | CUSIP: 492450AL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1272737.88   | 0.12%             | 2038-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KERRVILLE TX PUBLIC UTILITY BR     | Kerrville Public Utility Board Public Facility Corp                              | CUSIP: 492450AH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2075000 | PA      | $2277201.70   | 0.21%             | 2035-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OMAHA NE PUBLIC PWR DIST ELEC      | Omaha Public Power District                                                      | CUSIP: 682001FX5<br>LEI: 54930000VJEJ9CGIYG32 | Long             | DBT              | MUN               | US        |    835000 | PA      | $838096.60    | 0.08%             | 2042-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST HSG FIN AGY H     | Massachusetts Housing Finance Agency                                             | CUSIP: 57587A8E1<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   2785000 | PA      | $2758811.53   | 0.26%             | 2050-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| HAMPTON-DUMONT IA CMNTY SCH DI     | Hampton-Dumont Community School District                                         | CUSIP: 40915CAR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    965000 | PA      | $1038136.67   | 0.10%             | 2029-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PUBLIC ENERGY AUTH     | Kentucky Public Energy Authority                                                 | CUSIP: 74440DEC4<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2680040.50   | 0.25%             | 2054-04-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| MET GOVT NASHVILLE & DAVIDSON      | Metropolitan Government Nashville & Davidson County Health & Educational Facs Bd | CUSIP: 592113CR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3049313.10   | 0.29%             | 2045-02-01      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| WILL CNTY IL SCH DIST #114 MAN     | Will County School District No 114 Manhattan                                     | CUSIP: 968838HK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    840000 | PA      | $840508.45    | 0.08%             | 2026-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| IOWA ST BRD REGENTS HOSP REVEN     | State of Iowa Board of Regents                                                   | CUSIP: 46256QPX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3297000 | PA      | $3055255.06   | 0.29%             | 2041-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GLENDALE AZ WTR & SWR REVENUE      | City of Glendale AZ Water & Sewer Revenue                                        | CUSIP: 378352SN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $585667.67    | 0.06%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PECOS BARSTOW TOYAH TX INDEP S     | Pecos Barstow Toyah Independent School District                                  | CUSIP: 705227HR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1504851.90   | 0.14%             | 2041-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF WTR & P     | Los Angeles Department of Water & Power                                          | CUSIP: 544532FE9<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    250000 | PA      | $270693.78    | 0.03%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST HSG DEV AUTH REVEN     | Illinois Housing Development Authority                                           | CUSIP: 45203MBD2<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |    900000 | PA      | $889765.65    | 0.08%             | 2051-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA     | Main Street Natural Gas Inc                                                      | CUSIP: 56035DHS4<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1040000 | PA      | $1094144.48   | 0.10%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WRIGHT CITY MO SCH DIST #R-2       | Wright City R-II School District                                                 | CUSIP: 982260HR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $586794.35    | 0.06%             | 2033-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HAMDEN CT                          | Town of Hamden CT                                                                | CUSIP: 406793AU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $388773.91    | 0.04%             | 2032-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL MET WTR RECLAMATION     | Metropolitan Water Reclamation District of Greater Chicago                       | CUSIP: 167560UM1<br>LEI: 254900GOGQEZEWCZ4D37 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010687.00   | 0.10%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL      | New York City Transitional Finance Authority Future Tax Secured Revenue          | CUSIP: 64971XLL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $191734.31    | 0.02%             | 2043-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GOODYEAR AZ WTR & SWR REVENUE      | City of Goodyear AZ Water & Sewer Revenue                                        | CUSIP: 382900GF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2056832.60   | 0.19%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MANSFIELD TX INDEP SCH DIST        | Mansfield Independent School District                                            | CUSIP: 564386VE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5325000 | PA      | $5638645.70   | 0.53%             | 2040-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST      | New Jersey Transportation Trust Fund Authority                                   | CUSIP: 6461364X6<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   2790000 | PA      | $2815357.19   | 0.27%             | 2043-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TRI-CREEK IN 2002 HIGH SCH BLD     | Tri-Creek 2002 High School Building Corp                                         | CUSIP: 89556GJF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1053009.90   | 0.10%             | 2043-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE-MECKLENBURG NC HOSP      | Charlotte-Mecklenburg Hospital Authority/The                                     | CUSIP: 160853MS3<br>LEI: 549300XOH4JU704GMZ32 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5000000.00   | 0.47%             | 2037-01-15      | Variable      | 2.80%                 | No            |                  2 | On Loan: No      |
| DELAWARE ST HSG AUTH REVENUE       | Delaware State Housing Authority                                                 | CUSIP: 246395S24<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1215392.97   | 0.11%             | 2056-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE       | Illinois Finance Authority                                                       | CUSIP: 45204FC94<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1034389.40   | 0.10%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST TURNPIKE AUTH     | Massachusetts Department of Transportation                                       | CUSIP: 576018AL9<br>LEI: 549300CGDCL8XZK3KN03 | Long             | DBT              | MUN               | US        |    570000 | PA      | $518160.78    | 0.05%             | 2029-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST                     | State of Connecticut                                                             | CUSIP: 20772KBF5<br>LEI: 549300PHW5BZHA7BEX81 | Long             | DBT              | MUN               | US        |   5500000 | PA      | $5647294.95   | 0.53%             | 2038-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUB FACS AUTH REVENU     | Louisiana Public Facilities Authority                                            | CUSIP: 546399UQ7<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   1875000 | PA      | $2032033.50   | 0.19%             | 2030-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HGR EDUCTNL FA     | Pennsylvania Higher Educational Facilities Authority                             | CUSIP: 70917TTJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $497646.72    | 0.05%             | 2031-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALABAMA ST HSG FIN AUTH SF MTG     | Alabama Housing Finance Authority                                                | CUSIP: 01030RMQ2<br>LEI: 549300VFN7EHPOFS7D76 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1090145.70   | 0.10%             | 2055-10-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN      | New Hope Cultural Education Facilities Finance Corp                              | CUSIP: 64542UHA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2007943.20   | 0.19%             | 2040-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOLEDO OH                          | City of Toledo OH                                                                | CUSIP: 889278ZU4<br>LEI: 549300I365GIDPR4BM68 | Long             | DBT              | MUN               | US        |   1330000 | PA      | $1430670.23   | 0.13%             | 2039-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST HSG FIN AGY H     | Massachusetts Housing Finance Agency                                             | CUSIP: 57587GJG1<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    965000 | PA      | $951926.57    | 0.09%             | 2051-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS IN LOCAL PUBLIC I     | Indianapolis Local Public Improvement Bond Bank                                  | CUSIP: 45528VFM6<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |    500000 | PA      | $516532.70    | 0.05%             | 2042-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCK ISLAND & MERCER CNTYS ILC     | Rock Island & Mercer Counties Community Unit School District No 300              | CUSIP: 772283DZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $431881.22    | 0.04%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GALVESTON TX WHARVES & TERMINA     | City of Galveston TX Wharves & Terminal Revenue                                  | CUSIP: 364568KZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1030711.60   | 0.10%             | 2043-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| N TEXAS ST MUNI WTR DIST WTR S     | North Texas Municipal Water District Water System Revenue                        | CUSIP: 662903H48<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3353843.40   | 0.32%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL                         | City of Chicago IL                                                               | CUSIP: 167486P60<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020034.00   | 0.10%             | 2040-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST ECON DEV FIN AUTH      | Kentucky Economic Development Finance Authority                                  | CUSIP: 49126PEQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $977711.90    | 0.09%             | 2045-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH HLTH SYS R     | Indiana Finance Authority                                                        | CUSIP: 45470YGG0<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   2220000 | PA      | $2416073.06   | 0.23%             | 2057-10-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH HOSP REVEN     | Indiana Finance Authority                                                        | CUSIP: 45471AAS1<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5000000.00   | 0.47%             | 2039-11-01      | Variable      | 2.85%                 | No            |                  2 | On Loan: No      |
| UTAH ST HSG CORP MTGE REVENUE      | Utah Housing Corp                                                                | CUSIP: 917432CY0<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2999963.70   | 0.28%             | 2030-07-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE      | Metropolitan Transportation Authority                                            | CUSIP: 59261ACH8<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    500000 | PA      | $508511.80    | 0.05%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST MUNI GAS ACQUISITION      | Texas Municipal Gas Acquisition & Supply Corp V                                  | CUSIP: 88256RAK2<br>LEI: 254900XZ4J30QIJO9G03 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6314699.40   | 0.60%             | 2055-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| SHELBY CNTY TN HLTH EDUCTNL &H     | Shelby County Health Educational & Housing Facilities Board                      | CUSIP: 821697Z44<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2458524.97   | 0.23%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE ST HSG FIN AUTH      | New Hampshire Housing Finance Authority                                          | CUSIP: 64469D7Y1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1586853.66   | 0.15%             | 2056-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST HSG DEV AUTH REVEN     | Illinois Housing Development Authority                                           | CUSIP: 45203MVH1<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |    515000 | PA      | $498296.34    | 0.05%             | 2041-10-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| DALLAS-FORT WORTH TX INTERNATI     | Dallas Fort Worth International Airport                                          | CUSIP: 23503CEJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1525000 | PA      | $1561075.25   | 0.15%             | 2048-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GRAND RIVER CO HOSP DIST           | Grand River Hospital District                                                    | CUSIP: 386448EQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $433043.08    | 0.04%             | 2037-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST STWD CMNTYS DEV      | California Statewide Communities Development Authority                           | CUSIP: 13079PA37<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002043.80   | 0.09%             | 2067-09-01      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| TAMPA BAY FL WTR REGL WTR SPLY     | Tampa Bay Water                                                                  | CUSIP: 875124HW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $761452.58    | 0.07%             | 2049-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ISLE OF WIGHT CNTY VA ECON DEV     | Isle Wight County Industrial Development Authority                               | CUSIP: 464637AN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $633685.14    | 0.06%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DOWNTOWN REVITALIZATION PUBLIC     | Downtown Revitalization Public Infrastructure District                           | CUSIP: 26118TAJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1391470.13   | 0.13%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN MUNI PWR-OHIO INC OH      | American Municipal Power Inc                                                     | CUSIP: 02765UMH4<br>LEI: EARKGGZJJEMVD66XQ486 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003049.50   | 0.09%             | 2041-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MEMPHIS TN HLTH EDUCTNL & HSG      | Health Educational and Housing Facility Board of the City of Memphis/the         | CUSIP: 586169GB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    785000 | PA      | $799527.84    | 0.08%             | 2027-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX MUNI UTILITY DI     | Harris County Municipal Utility District No 423                                  | CUSIP: 41429KDM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $342402.19    | 0.03%             | 2029-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL      | Black Belt Energy Gas District                                                   | CUSIP: 09182TBT3<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1049768.70   | 0.10%             | 2053-11-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| CLOVERLEAF OH LOCAL SCH DIST C     | Cloverleaf Local School District                                                 | CUSIP: 18925PGN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1040247.20   | 0.10%             | 2037-12-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ST ECON DEV AUTH     | West Virginia Economic Development Authority                                     | CUSIP: 95648VBS7<br>LEI: 549300WW88TKKF5H1220 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1004991.70   | 0.09%             | 2040-03-01      | Variable      | 3.38%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF WTR & P     | Los Angeles Department of Water & Power                                          | CUSIP: 544532AW4<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    525000 | PA      | $568456.93    | 0.05%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF WTR & P     | Los Angeles Department of Water & Power                                          | CUSIP: 544532MJ0<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    500000 | PA      | $538856.90    | 0.05%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE ST HSG FIN AUTH      | New Hampshire Housing Finance Authority                                          | CUSIP: 64469D6X4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1473497.35   | 0.14%             | 2056-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE       | Illinois Finance Authority                                                       | CUSIP: 45204FJD8<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1422667.48   | 0.13%             | 2030-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENNESSEE HSG DEV AGY RSDL FIN     | Tennessee Housing Development Agency                                             | CUSIP: 88046KPP5<br>LEI: 25490004PSQYQLFJGI76 | Long             | DBT              | MUN               | US        |   1365000 | PA      | $1365313.68   | 0.13%             | 2056-01-01      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| SPARTANBURG CNTY SC SCH DIST #     | Spartanburg County School District No 4/SC                                       | CUSIP: 847031CP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1945000 | PA      | $2008244.01   | 0.19%             | 2042-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI STUDENT HSG     | Public Finance Authority                                                         | CUSIP: 74439YFL0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    300000 | PA      | $322361.10    | 0.03%             | 2034-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST TOLL HIGHWAY AUTH      | Illinois State Toll Highway Authority                                            | CUSIP: 452252JW0<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1642407.03   | 0.15%             | 2039-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N TX TOLLWAY AUTH REVENUE          | North Texas Tollway Authority                                                    | CUSIP: 66285WJ56<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1068189.30   | 0.10%             | 2038-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LAKE CNTY IL SCH DIST #112 N S     | Lake County School District No 112 North Shore                                   | CUSIP: 509076CM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $992946.00    | 0.09%             | 2037-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CANYONS MET DIST #5 CO             | Canyons Metropolitan District No 5                                               | CUSIP: 139071AU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1124440.84   | 0.11%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LONG BEACH CA ARPT REVENUE         | City of Long Beach CA Airport System Revenue                                     | CUSIP: 542403DC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $163786.74    | 0.02%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW BRITAIN CT                     | City of New Britain CT                                                           | CUSIP: 642714BP3<br>LEI: 549300MERJSUOPGAV271 | Long             | DBT              | MUN               | US        |    600000 | PA      | $641822.46    | 0.06%             | 2030-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL      | Black Belt Energy Gas District                                                   | CUSIP: 09182TAF4<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   9065000 | PA      | $9130436.61   | 0.86%             | 2052-10-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV     | Colorado Health Facilities Authority                                             | CUSIP: 19648FWJ9<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1097499.80   | 0.10%             | 2034-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES     | New York State Dormitory Authority                                               | CUSIP: 65000B7V4<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1339318.89   | 0.13%             | 2043-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FOREST HILLS OH LOCAL SCH DIST     | Forest Hills Local School District                                               | CUSIP: 345766NN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    630000 | PA      | $630129.02    | 0.06%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MEMPHIS TN SANTN SWR SYS REVEN     | City of Memphis TN Sanitary Sewerage System Revenue                              | CUSIP: 586200UA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3145000 | PA      | $3245778.07   | 0.31%             | 2043-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH MUNI CTFS     | New Hampshire Business Finance Authority                                         | CUSIP: 63607WAZ7<br>LEI: N/A                  | Long             | ABS-MBS          | MUN               | US        |   2484844 | PA      | $2353025.59   | 0.22%             | 2039-11-20      | Variable      | 4.06%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY           | Minnesota Housing Finance Agency                                                 | CUSIP: 60416UML6<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1258076.25   | 0.12%             | 2055-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA HSG FIN AGY M     | District of Columbia Housing Finance Agency                                      | CUSIP: 25477PPQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3035000 | PA      | $3036724.79   | 0.29%             | 2040-09-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST MUNI ENERGY AGY PW     | Kentucky Municipal Energy Agency                                                 | CUSIP: 491499AS8<br>LEI: 254900W8G3M70YHUAO94 | Long             | DBT              | MUN               | US        |    915000 | PA      | $929597.09    | 0.09%             | 2045-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH NATIO     | Arizona Industrial Development Authority                                         | CUSIP: 04052FAM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $573313.95    | 0.05%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH INFRASTRUCTURE AGY TELECO     | Utah Infrastructure Agency                                                       | CUSIP: 917467CG5<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |    100000 | PA      | $106043.39    | 0.01%             | 2032-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI STUDENT HSG     | Public Finance Authority                                                         | CUSIP: 74439YFT3<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    150000 | PA      | $150368.40    | 0.01%             | 2045-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UTAH INFRASTRUCTURE AGY TELECO     | Utah Infrastructure Agency                                                       | CUSIP: 917467CL4<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1107152.70   | 0.10%             | 2033-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WRIGHT CITY MO SCH DIST #R-2       | Wright City R-II School District                                                 | CUSIP: 982260HM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $166631.60    | 0.02%             | 2029-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| IRON CNTY UT SALES TAX REVENUE     | County of Iron UT Sales Tax Revenue                                              | CUSIP: 462791AV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1305386.29   | 0.12%             | 2049-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HSG & ECON DEV AU     | Wisconsin Housing & Economic Development Authority Home Ownership Revenue        | CUSIP: 97689QTK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $979616.50    | 0.09%             | 2034-03-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN SPL SCH DIST #1     | Minneapolis Special School District No 1                                         | CUSIP: 603790LU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1320240.63   | 0.12%             | 2031-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GRAND FORKS ND HLTH CARE SYS R     | City of Grand Forks ND                                                           | CUSIP: 38546WDY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $724490.66    | 0.07%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA     | Main Street Natural Gas Inc                                                      | CUSIP: 56035DCZ3<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005587.60   | 0.09%             | 2052-05-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ST HOSP FIN AUTH     | West Virginia Hospital Finance Authority                                         | CUSIP: 956622X82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1050806.10   | 0.10%             | 2038-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH ST PERSO     | New York State Dormitory Authority                                               | CUSIP: 64990KBB8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    815000 | PA      | $829696.90    | 0.08%             | 2040-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TURNPIKE AUTH TU     | New Jersey Turnpike Authority                                                    | CUSIP: 646140EQ2<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1030391.70   | 0.10%             | 2042-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISE CNTY VA INDL DEV AUTH SOL     | Wise County Industrial Development Authority                                     | CUSIP: 977228AE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1495049.25   | 0.14%             | 2040-10-01      | Variable      | 0.75%                 | No            |                  2 | On Loan: No      |
| INDIANA ST MUNI PWR AGY            | Indiana Municipal Power Agency                                                   | CUSIP: 454898YV3<br>LEI: AX0ZCCVOQ71Z4RXBL233 | Long             | DBT              | MUN               | US        |   1225000 | PA      | $1257962.42   | 0.12%             | 2043-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AVON IN CMNTY SCH BLDG CORP        | Avon Community School Building Corp                                              | CUSIP: 054071PB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1081145.20   | 0.10%             | 2038-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GRAND FORKS ND HLTH CARE SYS R     | City of Grand Forks ND                                                           | CUSIP: 38546WES5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1188101.75   | 0.11%             | 2037-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST BAY TRANSPRTN     | Massachusetts Bay Transportation Authority Sales Tax Revenue                     | CUSIP: 575579ZR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $816952.90    | 0.08%             | 2031-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SALT RIVER AZ PROJ AGRIC IMPT&     | Salt River Project Agricultural Improvement & Power District                     | CUSIP: 79574CFA6<br>LEI: SHB8HO6GKXJ83RX5OV39 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1312309.50   | 0.12%             | 2042-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KANSAS ST DEV FIN AUTH MF HSG      | Kansas Development Finance Authority                                             | CUSIP: 48542TBJ8<br>LEI: 549300WTL7BL8KBDPR87 | Long             | DBT              | MUN               | US        |   1305000 | PA      | $1340698.80   | 0.13%             | 2043-06-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL      | Black Belt Energy Gas District                                                   | CUSIP: 09182TBZ9<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1827747.72   | 0.17%             | 2026-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST      | New Jersey Transportation Trust Fund Authority                                   | CUSIP: 6461367B1<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1356076.15   | 0.13%             | 2037-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAWAII ST ARPTS SYS REVENUE        | State of Hawaii Airports System Revenue                                          | CUSIP: 419794K76<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1526790.90   | 0.14%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MANSFIELD TX INDEP SCH DIST        | Mansfield Independent School District                                            | CUSIP: 564386VD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5280000 | PA      | $5656636.13   | 0.53%             | 2039-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAINE ST TURNPIKE AUTH SPL OBL     | Maine Turnpike Authority                                                         | CUSIP: 560543CH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    245000 | PA      | $269424.32    | 0.03%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OMAHA NE PUBLIC PWR DIST SEPAR     | Omaha Public Power District Nebraska City Station Unit 2                         | CUSIP: 682004FH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1235000 | PA      | $1232881.11   | 0.12%             | 2046-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RICHMOND MI CMNTY SCHS             | Richmond Community Schools/MI                                                    | CUSIP: 765177CV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2655000 | PA      | $2638097.21   | 0.25%             | 2037-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE     | South Carolina Jobs-Economic Development Authority                               | CUSIP: 837031H63<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $964362.90    | 0.09%             | 2062-03-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HSG & ECON DEV AU     | Wisconsin Housing & Economic Development Authority Home Ownership Revenue        | CUSIP: 97689QUV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1033258.60   | 0.10%             | 2039-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BENTONVILLE AR SCH DIST #6         | Bentonville School District No 6                                                 | CUSIP: 0834192L4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $799076.60    | 0.08%             | 2035-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CARTER CNTY OK PUBLIC FACS AUT     | Carter County Public Facilities Authority                                        | CUSIP: 146201DN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031489.50   | 0.10%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HSG FIN AGY SF     | Pennsylvania Housing Finance Agency                                              | CUSIP: 70879QWN9<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |    995000 | PA      | $1081461.42   | 0.10%             | 2054-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HILLSBOROUGH CNTY FLA INDL DEV     | Hillsborough County Industrial Development Authority                             | CUSIP: 43233KAH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1290000 | PA      | $1439924.83   | 0.14%             | 2034-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WRIGHT CITY MO SCH DIST #R-2       | Wright City R-II School District                                                 | CUSIP: 982260HT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $613136.60    | 0.06%             | 2035-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| KERRVILLE TX PUBLIC UTILITY BR     | Kerrville Public Utility Board Public Facility Corp                              | CUSIP: 492450AF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1880000 | PA      | $2078709.80   | 0.20%             | 2033-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST SPL TAX OBLIG R     | State of Connecticut Special Tax Revenue                                         | CUSIP: 207758D34<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1463596.35   | 0.14%             | 2039-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT     | Utah Charter School Finance Authority                                            | CUSIP: 91754TW90<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $227494.65    | 0.02%             | 2040-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX MUNI UTILITY DI     | Harris County Municipal Utility District No 489                                  | CUSIP: 41423LMU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1066181.80   | 0.10%             | 2029-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE       | Illinois Finance Authority                                                       | CUSIP: 45203HB50<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   2350000 | PA      | $2202965.20   | 0.21%             | 2038-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI     | Washington State Housing Finance Commission                                      | CUSIP: 93978UAA4<br>LEI: 549300YL1HU59NREG764 | Long             | ABS-MBS          | MUN               | US        |    994954 | PA      | $915073.19    | 0.09%             | 2050-03-01      | Variable      | 4.08%                 | No            |                  2 | On Loan: No      |
| SHELBY CNTY TN HLTH EDUCTNL &      | Shelby County Health Educational & Housing Facilities Board                      | CUSIP: 821691AC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1369577.82   | 0.13%             | 2049-09-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| WILLIAMSBURG VA ECON DEV AUTH      | Williamsburg Economic Development Authority                                      | CUSIP: 969671AR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $916320.00    | 0.09%             | 2042-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HILLSBOROUGH CNTY FLA INDL DEV     | Hillsborough County Industrial Development Authority                             | CUSIP: 43233KAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 0.05%             | 2038-11-01      | Variable      | 2.85%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST FIN AUTH REVENUE       | Michigan Finance Authority                                                       | CUSIP: 59447T7E7<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1032951.70   | 0.10%             | 2038-12-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST STADIUM AUTH REVEN     | Maryland Stadium Authority                                                       | CUSIP: 574296BV0<br>LEI: 549300VA283TTQRDNF71 | Long             | DBT              | MUN               | US        |   1820000 | PA      | $1838776.76   | 0.17%             | 2042-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ONONDAGA NY CIVIC DEV CORP         | Onondaga Civic Development Corp                                                  | CUSIP: 682832LE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $531522.55    | 0.05%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH ST     | California Municipal Finance Authority                                           | CUSIP: 13049YAZ4<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    400000 | PA      | $417625.68    | 0.04%             | 2031-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KANSAS CITY MO SPL OBLG            | City of Kansas City MO                                                           | CUSIP: 485106YN2<br>LEI: 549300EGAE3I3XU7XE19 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1333708.35   | 0.13%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| S E ALABAMA ST GAS SPLY DIST G     | Southeast Alabama Gas Supply District/The                                        | CUSIP: 84131TBA9<br>LEI: 549300BL04JIB2GJZ178 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2112957.40   | 0.20%             | 2054-08-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| JOLIET IL                          | City of Joliet IL                                                                | CUSIP: 479754NP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1042409.20   | 0.10%             | 2040-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA ARPT PASSENGER FAC      | City of Atlanta GA Airport Passenger Facility Charge                             | CUSIP: 04780TEA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1302611.00   | 0.12%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTILITY DEBT SECURITIZATION AU     | Utility Debt Securitization Authority                                            | CUSIP: 91802RGY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $533305.10    | 0.05%             | 2041-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BASELINE MET DIST #1 CO SPL RE     | Baseline Metropolitan District No 1                                              | CUSIP: 069826AL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1095069.90   | 0.10%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CMWLTH FING AUTH PA TOBACCO MA     | Commonwealth Financing Authority                                                 | CUSIP: 20282EAS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    920000 | PA      | $859102.81    | 0.08%             | 2039-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TX ELEC & GAS REVE     | City of San Antonio TX Electric & Gas Systems Revenue                            | CUSIP: 79625GKA0<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1669647.45   | 0.16%             | 2033-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI DEV BK SPL OBLIG       | Mississippi Development Bank                                                     | CUSIP: 60534XM37<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |    455000 | PA      | $466034.07    | 0.04%             | 2040-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF WTR & P     | Los Angeles Department of Water & Power                                          | CUSIP: 544532MH4<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    920000 | PA      | $1004587.74   | 0.09%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KERRVILLE TX PUBLIC UTILITY BR     | Kerrville Public Utility Board Public Facility Corp                              | CUSIP: 492450AK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1216292.67   | 0.11%             | 2037-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF WTR & P     | Los Angeles Department of Water & Power Water System Revenue                     | CUSIP: 544525TY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1850000 | PA      | $1863011.42   | 0.18%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA     | Chicago O'Hare International Airport                                             | CUSIP: 1675935C2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1036579.80   | 0.10%             | 2044-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI LEASE DEV R     | Public Finance Authority                                                         | CUSIP: 74444YAW4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2988928.50   | 0.28%             | 2046-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INTERMOUNTAIN PWR AGY UT PWR S     | Intermountain Power Agency                                                       | CUSIP: 45884AB69<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1045000 | PA      | $1064249.53   | 0.10%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST PUBLIC WKS BRD L     | California State Public Works Board                                              | CUSIP: 13068XJE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2580000 | PA      | $2595449.56   | 0.24%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TURNPIKE AUTH TU     | New Jersey Turnpike Authority                                                    | CUSIP: 646140GD9<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1635464.80   | 0.15%             | 2045-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAREDO TX INDEP SCH DIST           | Laredo Independent School District                                               | CUSIP: 516840ZR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $705275.81    | 0.07%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HLTH & EDUCTNL      | Connecticut State Health & Educational Facilities Authority                      | CUSIP: 20775DXV9<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1355000 | PA      | $1476381.85   | 0.14%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STHRN CALIFORNIA ST PUBLIC PWR     | Southern California Public Power Authority                                       | CUSIP: 842469AP3<br>LEI: 5493003B5TD5FWUKMD34 | Long             | DBT              | MUN               | US        |    585000 | PA      | $616619.84    | 0.06%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST TRUNK LINE             | State of Michigan Trunk Line Revenue                                             | CUSIP: 5946954N5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2120034.40   | 0.20%             | 2044-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST ENTERPRISE DEV A     | California Enterprise Development Authority                                      | CUSIP: 13067RFS7<br>LEI: 549300544P6FSHU1HB46 | Long             | DBT              | MUN               | US        |    695000 | PA      | $649899.92    | 0.06%             | 2040-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL TRANSIT AUTH SALES      | Chicago Transit Authority Sales Tax Receipts Fund                                | CUSIP: 16772PEP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $9708414.00   | 0.92%             | 2049-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU              | Chicago Board of Education                                                       | CUSIP: 167505UD6<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1051360.80   | 0.10%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WALTON CNTY GA WTR & SWR AUTH      | Walton County Water & Sewer Authority                                            | CUSIP: 93342PFJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $369600.07    | 0.03%             | 2042-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HAWAII ST                          | State of Hawaii                                                                  | CUSIP: 419792YG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1095000 | PA      | $1123928.04   | 0.11%             | 2039-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST DEPT OF HSG & CMNTY A     | Texas Department of Housing & Community Affairs                                  | CUSIP: 88275FSE0<br>LEI: 549300J3RRLLZZN4WP77 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1483725.60   | 0.14%             | 2045-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WEST HAVEN CT                      | City of West Haven CT                                                            | CUSIP: 953140W48<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $245801.26    | 0.02%             | 2027-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SPARTA WI AREA SCH DIST            | Sparta Area School District                                                      | CUSIP: 846754KU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1110000 | PA      | $932417.76    | 0.09%             | 2038-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST BLDG AUTH REVENUE      | Michigan State Building Authority                                                | CUSIP: 594615FY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2175000 | PA      | $2192173.15   | 0.21%             | 2041-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GEORGETOWN TX UTILITY SYS REVE     | City of Georgetown TX Utility System Revenue                                     | CUSIP: 373064N59<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023969.70   | 0.10%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA     | Main Street Natural Gas Inc                                                      | CUSIP: 56035DGC0<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5031577.50   | 0.47%             | 2053-12-01      | Variable      | 4.62%                 | No            |                  2 | On Loan: No      |
| OREGON ST                          | State of Oregon                                                                  | CUSIP: 68609UPM1<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2150780.40   | 0.20%             | 2042-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| KELSEYVILLE CA UNIF SCH DIST       | Kelseyville Unified School District                                              | CUSIP: 488224DN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $120454.22    | 0.01%             | 2031-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BURKE CNTY GA DEV AUTH POLL CO     | Development Authority of Burke County/The                                        | CUSIP: 121342PN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3015000 | PA      | $3052071.54   | 0.29%             | 2045-11-01      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUBLIC SVC A     | South Carolina Public Service Authority                                          | CUSIP: 8371516N4<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    750000 | PA      | $748566.45    | 0.07%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EAST RUTHERFORD NJ SCH DIST        | East Rutherford Board of Education                                               | CUSIP: 274803DN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1007727.38   | 0.10%             | 2034-07-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HSG DEV COMMISSION     | Missouri Housing Development Commission                                          | CUSIP: 60637GJK6<br>LEI: 5493007FBL7WCV3NKY25 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1198435.04   | 0.11%             | 2056-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| E-470 CO PUBLIC HIGHWAY AUTH       | E-470 Public Highway Authority                                                   | CUSIP: 26822LMX9<br>LEI: 549300164ZV2301BC703 | Long             | DBT              | MUN               | US        |   1040000 | PA      | $1038848.72   | 0.10%             | 2039-09-01      | Variable      | 3.67%                 | No            |                  2 | On Loan: No      |
| ROCK ISLAND & MERCER CNTYS ILC     | Rock Island & Mercer Counties Community Unit School District No 300              | CUSIP: 772283DW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1025000 | PA      | $1065839.79   | 0.10%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COATESVILLE PA AREA SCH DIST       | Coatesville School District                                                      | CUSIP: 190684QP8<br>LEI: 549300FB4I8E5MPRFX97 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4159934.40   | 0.39%             | 2037-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GENESEE CNTY MI                    | County of Genesee MI                                                             | CUSIP: 371608WB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $230403.41    | 0.02%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCK ISLAND & MERCER CNTYS ILC     | Rock Island & Mercer Counties Community Unit School District No 300              | CUSIP: 772283DT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    805000 | PA      | $858456.59    | 0.08%             | 2038-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH DAKOTA ST HSG FIN AGY        | North Dakota Housing Finance Agency                                              | CUSIP: 65889BBC7<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1106409.60   | 0.10%             | 2055-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST HSG FIN AGY      | North Carolina Housing Finance Agency                                            | CUSIP: 658207X42<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |    910000 | PA      | $975676.61    | 0.09%             | 2054-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF WTR & P     | Los Angeles Department of Water & Power                                          | CUSIP: 544532HZ0<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    515000 | PA      | $557629.18    | 0.05%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PIKE ROAD AL                       | Town of Pike Road AL                                                             | CUSIP: 72129PGG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    720000 | PA      | $762090.05    | 0.07%             | 2039-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GOLD HILL MESA MET DIST #2 CO      | Gold Hill Mesa Metropolitan District No 2                                        | CUSIP: 38060PAM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $212979.68    | 0.02%             | 2037-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AMARILLO TX WTRWKS & SWR SYS R     | City of Amarillo TX Waterworks & Sewer System Revenue                            | CUSIP: 023108RL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1360000 | PA      | $1240035.22   | 0.12%             | 2041-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TARRANT CNTY TX CULTURAL EDU F     | Tarrant County Cultural Education Facilities Finance Corp                        | CUSIP: 87638QSH3<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.01%             | 2050-08-01      | Variable      | 2.25%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PUBLIC ENERGY AUTH     | Kentucky Public Energy Authority                                                 | CUSIP: 74440DCM4<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   2325000 | PA      | $2335262.32   | 0.22%             | 2050-02-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV     | Colorado Health Facilities Authority                                             | CUSIP: 19648FKA1<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    250000 | PA      | $215478.03    | 0.02%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTHORITY A C     | Southeast Energy Authority A Cooperative District                                | CUSIP: 84136HAH6<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   3130000 | PA      | $3322397.66   | 0.31%             | 2055-10-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC AUTH FOR COLORADO ST EN     | Public Authority for Colorado Energy                                             | CUSIP: 744387AD3<br>LEI: 549300C6IJKXQOMRAB11 | Long             | DBT              | MUN               | US        |   1990000 | PA      | $2317690.71   | 0.22%             | 2038-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TEXAS ST DEPT OF HSG & CMNTY A     | Texas Department of Housing & Community Affairs                                  | CUSIP: 882750D33<br>LEI: 549300J3RRLLZZN4WP77 | Long             | DBT              | MUN               | US        |   1020000 | PA      | $1119562.20   | 0.11%             | 2056-01-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MEMPHIS TN SANTN SWR SYS REVEN     | City of Memphis TN Sanitary Sewerage System Revenue                              | CUSIP: 586200TZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3116012.10   | 0.29%             | 2042-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WALTON CNTY GA WTR & SWR AUTH      | Walton County Water & Sewer Authority                                            | CUSIP: 93342PFM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $446445.76    | 0.04%             | 2043-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SAN JOAQUIN VLY CLEAN ENERGY A     | San Joaquin Valley Clean Energy Authority                                        | CUSIP: 79811YAK4<br>LEI: 254900VA5DFN33OVGH87 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1099966.00   | 0.10%             | 2056-01-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| TEXAS ST PRIV ACTIVITY BOND SU     | Texas Private Activity Bond Surface Transportation Corp                          | CUSIP: 882667BF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500582.60    | 0.05%             | 2033-06-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MESQUITE TX INDEP SCH DIST         | Mesquite Independent School District                                             | CUSIP: 590760FS8<br>LEI: 549300M7COV11VUIZE16 | Long             | DBT              | MUN               | US        |   1590000 | PA      | $1590820.76   | 0.15%             | 2036-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DENVER CITY & CNTY CO SCH DIST     | Denver City & County School District No 1                                        | CUSIP: 249174ZL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    760000 | PA      | $804934.09    | 0.08%             | 2047-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NASH HLTH CARE SYS NC HLTH CAR     | Nash Health Care Systems                                                         | CUSIP: 631163BM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    495000 | PA      | $514348.71    | 0.05%             | 2044-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT BUSINESS PRIVILEGE T     | Territory of Guam                                                                | CUSIP: 40065NCX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1615377.00   | 0.15%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRADLEY IL                         | Village of Bradley IL                                                            | CUSIP: 104575CT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1148857.65   | 0.11%             | 2039-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEANDER TX INDEP SCH DIST          | Leander Independent School District                                              | CUSIP: 521841Q33<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $490043.41    | 0.05%             | 2030-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL      | New York City Transitional Finance Authority Future Tax Secured Revenue          | CUSIP: 64971WUK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5000000.00   | 0.47%             | 2045-02-01      | Variable      | 2.75%                 | No            |                  2 | On Loan: No      |
| PROSPER TX INDEP SCH DIST          | Prosper Independent School District                                              | CUSIP: 7436004G0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $835617.10    | 0.08%             | 2040-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES     | New York State Dormitory Authority                                               | CUSIP: 64985SHY2<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1047221.30   | 0.10%             | 2041-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS IN LOCAL PUBLIC I     | Indianapolis Local Public Improvement Bond Bank                                  | CUSIP: 45528VFH7<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |    475000 | PA      | $512825.87    | 0.05%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT WTR & PWR      | Los Angeles Department of Water & Power                                          | CUSIP: 5444957Z1<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    630000 | PA      | $648070.73    | 0.06%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MANHATTAN KS                       | City of Manhattan KS                                                             | CUSIP: 562895XS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1555000 | PA      | $1614332.27   | 0.15%             | 2041-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DALLAS CNTY TX CMNTY CLG DIST      | Dallas College                                                                   | CUSIP: 234685LJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1575000 | PA      | $1578363.57   | 0.15%             | 2028-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY MD HSG OPPNTYS     | Montgomery County Housing Opportunities Commission                               | CUSIP: 613347SR5<br>LEI: 549300HDL0LLRHMDL092 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $994326.80    | 0.09%             | 2034-07-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| MET WASHINGTON DC ARPTS AUTH D     | Metropolitan Washington Airports Authority Dulles Toll Road Revenue              | CUSIP: 592643BQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3152625.00   | 0.30%             | 2044-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SANTA CLARA CA UNIF SCH DIST       | Santa Clara Unified School District                                              | CUSIP: 801495Z96<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    485000 | PA      | $389618.93    | 0.04%             | 2044-07-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ST HOSP FIN AUTH     | West Virginia Hospital Finance Authority                                         | CUSIP: 956622T95<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1502218.50   | 0.14%             | 2039-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WILLIS TX INDEP SCH DIST           | Willis Independent School District                                               | CUSIP: 970667C41<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    920000 | PA      | $632764.59    | 0.06%             | 2040-02-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| MANSFIELD TX INDEP SCH DIST        | Mansfield Independent School District                                            | CUSIP: 564386VF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3575000 | PA      | $3757724.33   | 0.35%             | 2041-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER CITY & CNTY CO SCH DIST     | Denver City & County School District No 1                                        | CUSIP: 249174ZK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1062519.70   | 0.10%             | 2046-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A     | California Community Choice Financing Authority                                  | CUSIP: 13013JCM6<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   5185000 | PA      | $5410182.99   | 0.51%             | 2054-01-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES     | New York State Dormitory Authority                                               | CUSIP: 64990CEB3<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1220000 | PA      | $1235894.65   | 0.12%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HSG & FIN AUTH         | Colorado Housing and Finance Authority                                           | CUSIP: 196480DQ7<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | MUN               | US        |    395000 | PA      | $397791.15    | 0.04%             | 2050-05-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R     | Massachusetts Development Finance Agency                                         | CUSIP: 57584XWS6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $502106.95    | 0.05%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR     | Puerto Rico Electric Power Authority                                             | CUSIP: 74526QPT3<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   1465000 | PA      | $1438745.30   | 0.14%             | 2035-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| OHIO ST AIR QUALITY DEV AUTH       | Ohio Air Quality Development Authority                                           | CUSIP: 677525WY9<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $997159.90    | 0.09%             | 2026-05-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| STHRN CALIFORNIA ST PUBLIC PWR     | Southern California Public Power Authority                                       | CUSIP: 842469AE8<br>LEI: 5493003B5TD5FWUKMD34 | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1461746.39   | 0.14%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE       | Illinois Finance Authority                                                       | CUSIP: 45204FK46<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1449430.65   | 0.14%             | 2041-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA     | Chicago O'Hare International Airport                                             | CUSIP: 1675933Z3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1419384.55   | 0.13%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH MF     | California Municipal Finance Authority                                           | CUSIP: 130483FW5<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.09%             | 2026-08-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA ST HSG DEV AUTH       | South Dakota Housing Development Authority                                       | CUSIP: 83756LBH7<br>LEI: 549300G853EK61667C18 | Long             | DBT              | MUN               | US        |    995000 | PA      | $1106420.90   | 0.10%             | 2055-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY           | Minnesota Housing Finance Agency                                                 | CUSIP: 60416S6S4<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    680000 | PA      | $680441.05    | 0.06%             | 2050-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| KERRVILLE TX PUBLIC UTILITY BR     | Kerrville Public Utility Board Public Facility Corp                              | CUSIP: 492450AE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1785000 | PA      | $1972383.59   | 0.19%             | 2032-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF WTR & P     | Los Angeles Department of Water & Power                                          | CUSIP: 544532AL8<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    110000 | PA      | $113155.21    | 0.01%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH DAKOTA ST HSG FIN AGY        | North Dakota Housing Finance Agency                                              | CUSIP: 6589098C3<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |    990000 | PA      | $1102464.40   | 0.10%             | 2055-01-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HSG & MTGE FIN A     | New Jersey Housing & Mortgage Finance Agency                                     | CUSIP: 64613ALU4<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5635749.00   | 0.53%             | 2056-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| IOWA ST HGR EDU LOAN AUTH REVE     | Iowa Higher Education Loan Authority                                             | CUSIP: 46247DAA5<br>LEI: 549300DWVTM3KRNR0M36 | Long             | DBT              | MUN               | US        |    300000 | PA      | $312650.04    | 0.03%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST HLTH FACS FING A     | California Health Facilities Financing Authority                                 | CUSIP: 13032UUN6<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |    250000 | PA      | $243738.60    | 0.02%             | 2049-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST TRANSIT AUTH SALES TAX     | Utah Transit Authority                                                           | CUSIP: 917567JR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1316696.38   | 0.12%             | 2042-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH AL COMMO     | Southeast Energy Authority A Cooperative District                                | CUSIP: 84136FBB2<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1033710.10   | 0.10%             | 2053-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| SPRINGBORO OH CMNTY CITY SCH D     | Springboro Community City School District                                        | CUSIP: 85022KDY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1975000 | PA      | $1990898.75   | 0.19%             | 2025-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH REVENUE       | New Hampshire Business Finance Authority                                         | CUSIP: 63607YBQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1530000 | PA      | $1545413.22   | 0.15%             | 2042-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA     | Main Street Natural Gas Inc                                                      | CUSIP: 56035DFC1<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1319305.00   | 0.12%             | 2053-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA                  | County of Allegheny PA                                                           | CUSIP: 01728VTH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010113.50   | 0.10%             | 2041-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY CITY TRANSITIONAL      | New York City Transitional Finance Authority                                     | CUSIP: 64972JTE8<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |    500000 | PA      | $508684.15    | 0.05%             | 2046-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE       | Illinois Finance Authority                                                       | CUSIP: 45204FC86<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    500000 | PA      | $517593.40    | 0.05%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAUDERHILL FL WTR & SWR REVENU     | City of Lauderhill FL Water & Sewer Revenue                                      | CUSIP: 518557SM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011984.10   | 0.10%             | 2048-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST PUBLIC FIN AUTH REVEN     | Texas Public Finance Authority                                                   | CUSIP: 88277PAS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1620158.10   | 0.15%             | 2031-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HALIFAX CNTY VA INDL DEV AUTH      | Halifax County Industrial Development Authority                                  | CUSIP: 40579PAE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1522579.20   | 0.14%             | 2041-12-01      | Variable      | 3.80%                 | No            |                  2 | On Loan: No      |
| GREATER CLARK IN BLDG CORP         | Greater Clark Building Corp                                                      | CUSIP: 39167GJP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1155459.10   | 0.11%             | 2034-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WALTON CNTY GA WTR & SWR AUTH      | Walton County Water & Sewer Authority                                            | CUSIP: 93342PFG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $482247.23    | 0.05%             | 2040-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY CITY TRANSITIONAL      | New York City Transitional Finance Authority                                     | CUSIP: 64972JTA6<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1300448.38   | 0.12%             | 2042-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI BEACH FL RESORT TAX REVE     | City of Miami Beach FL                                                           | CUSIP: 593238CH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000775.60   | 0.09%             | 2045-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY MUNI WTR FIN      | New York City Municipal Water Finance Authority                                  | CUSIP: 64972GCN2<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5000000.00   | 0.47%             | 2050-06-15      | Variable      | 2.75%                 | No            |                  2 | On Loan: No      |
| INDIANA ST HSG & CMNTY DEV AUT     | Indiana Housing & Community Development Authority                                | CUSIP: 454808AD8<br>LEI: 549300QRKDYVNHT1OE86 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2003945.80   | 0.19%             | 2026-10-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ST HOSP FIN AUTH     | West Virginia Hospital Finance Authority                                         | CUSIP: 956622W67<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1287302.63   | 0.12%             | 2042-09-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH SALES TA     | New York State Dormitory Authority                                               | CUSIP: 64990AMS1<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2032237.00   | 0.19%             | 2041-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT WTR & PWR      | Los Angeles Department of Water & Power                                          | CUSIP: 5444953B8<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    905000 | PA      | $943662.41    | 0.09%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN JOAQUIN HILLS CA TRANSPRTN     | San Joaquin Hills Transportation Corridor Agency                                 | CUSIP: 798111GD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $99998.82     | 0.01%             | 2049-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY TX MUNI UTIL D     | Montgomery County Municipal Utility District No 95                               | CUSIP: 61370NMK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    560000 | PA      | $549591.00    | 0.05%             | 2041-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH NY BRIDGE & TUNNEL      | Triborough Bridge & Tunnel Authority                                             | CUSIP: 89602HFA0<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   1345000 | PA      | $1290116.20   | 0.12%             | 2045-05-15      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY HSG DEV CORP      | New York City Housing Development Corp                                           | CUSIP: 64972KLH6<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1266558.75   | 0.12%             | 2065-05-01      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| GEORGETOWN TX INDEP SCH DIST       | Georgetown Independent School District                                           | CUSIP: 373046ZC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2670000 | PA      | $2126942.56   | 0.20%             | 2041-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                        | City of New York NY                                                              | CUSIP: 64966QL57<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3066624.60   | 0.29%             | 2047-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH STUDENT      | Arizona Industrial Development Authority                                         | CUSIP: 04052VAH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $344920.03    | 0.03%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA ST BRD REGENTS HOSP REVEN     | State of Iowa Board of Regents                                                   | CUSIP: 46256QQB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $939303.50    | 0.09%             | 2045-09-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTHORITY A C     | Southeast Energy Authority A Cooperative District                                | CUSIP: 84136HAR4<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1038878.00   | 0.10%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORT WORTH TX                      | City of Fort Worth TX                                                            | CUSIP: 349426DC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $335667.55    | 0.03%             | 2040-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL      | Metropolitan Pier & Exposition Authority                                         | CUSIP: 592250EW0<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |    650000 | PA      | $568660.43    | 0.05%             | 2042-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HSG OPTIONS INC TX MF REVENUE      | Housing Options Inc/TX                                                           | CUSIP: 44183TAN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3850000 | PA      | $3851950.41   | 0.36%             | 2045-02-01      | Variable      | 3.05%                 | No            |                  2 | On Loan: No      |
| LOUISIANA ST HSG CORP MF HSG R     | Louisiana Housing Corp                                                           | CUSIP: 54627CBN2<br>LEI: 549300VL35TBE7RSJH61 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6106666.80   | 0.58%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WALTON CNTY GA WTR & SWR AUTH      | Walton County Water & Sewer Authority                                            | CUSIP: 93342PFH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $425477.48    | 0.04%             | 2041-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALG     | Black Belt Energy Gas District                                                   | CUSIP: 09182RAR2<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    600000 | PA      | $601119.18    | 0.06%             | 2049-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| FARMINGTON NM POLL CONTROL REV     | City of Farmington NM                                                            | CUSIP: 311450GD6<br>LEI: 5493000GWMTI2L4AZA61 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2033507.60   | 0.19%             | 2040-06-01      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| DES MOINES IA                      | City of Des Moines IA                                                            | CUSIP: 25009XSS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2060000 | PA      | $1590008.53   | 0.15%             | 2036-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HLTH CARE FACS A     | Washington Health Care Facilities Authority                                      | CUSIP: 93978HZW8<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4279230.40   | 0.40%             | 2055-08-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST HSG DEV AUTH REVEN     | Illinois Housing Development Authority                                           | CUSIP: 45203MF55<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |    995000 | PA      | $1097371.87   | 0.10%             | 2055-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| KERRVILLE TX PUBLIC UTILITY BR     | Kerrville Public Utility Board Public Facility Corp                              | CUSIP: 492450AN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1320000 | PA      | $1369931.90   | 0.13%             | 2040-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH HSG CORP SF MTGE REVENUE      | Utah Housing Corp                                                                | CUSIP: 917437UD5<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |   4200000 | PA      | $4797982.98   | 0.45%             | 2055-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST LIBERTY DEV CORP L     | New York Liberty Development Corp                                                | CUSIP: 649519DF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $462106.60    | 0.04%             | 2069-09-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| OHIO ST WTR DEV AUTH WTR POLL      | Ohio Water Development Authority Water Pollution Control Loan Fund               | CUSIP: 67766WS52<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1096284.10   | 0.10%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO INDL TOURIST EDUCT     | Puerto Rico Industrial Tourist Educational Medical & Envirml Ctl Facs Fing Auth  | CUSIP: 74527EFJ2<br>LEI: 549300YJRISCG6HQ4512 | Long             | DBT              | MUN               | US        |    400000 | PA      | $415668.92    | 0.04%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TX SPL TAX REVENUE       | City of Arlington TX Special Tax Revenue                                         | CUSIP: 04184RBR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250352.73    | 0.02%             | 2043-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL MF HSG REVENUE          | City of Chicago IL                                                               | CUSIP: 167570TU4<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5023876.00   | 0.47%             | 2026-11-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH NY BRIDGE & TUNNEL      | Triborough Bridge & Tunnel Authority                                             | CUSIP: 89602HEN3<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1284407.88   | 0.12%             | 2047-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZATION CORP      | Sales Tax Securitization Corp                                                    | CUSIP: 79467BHU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1551542.10   | 0.15%             | 2041-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTHORITY A C     | Southeast Energy Authority A Cooperative District                                | CUSIP: 84136HAU7<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   6250000 | PA      | $6442280.63   | 0.61%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                      | State of California                                                              | CUSIP: 13063ELK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1047444.30   | 0.10%             | 2044-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST HSG FIN & DE     | South Carolina State Housing Finance & Development Authority                     | CUSIP: 83712D8U3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1132239.60   | 0.11%             | 2055-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH ST PERSO     | New York State Dormitory Authority                                               | CUSIP: 64990FZW7<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1378258.80   | 0.13%             | 2041-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IOWA ST BRD REGENTS HOSP REVEN     | State of Iowa Board of Regents                                                   | CUSIP: 46256QPY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1230000 | PA      | $1139535.59   | 0.11%             | 2042-09-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY CITY TRANSITIONAL      | New York City Transitional Finance Authority                                     | CUSIP: 64972JPQ5<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   2850000 | PA      | $2886034.26   | 0.27%             | 2047-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY           | Minnesota Housing Finance Agency                                                 | CUSIP: 60416TPK8<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   4070000 | PA      | $4014666.72   | 0.38%             | 2052-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HGR EDUCTNL FA     | Pennsylvania Higher Educational Facilities Authority                             | CUSIP: 70917RKC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $59424.90     | 0.01%             | 2027-07-01      | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH STUDENT      | Arizona Industrial Development Authority                                         | CUSIP: 04052VAG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $321056.10    | 0.03%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA GAS WKS REVENU     | Philadelphia Gas Works Co                                                        | CUSIP: 7178238H4<br>LEI: 549300H8UJ7V5WU5IA90 | Long             | DBT              | MUN               | US        |   1435000 | PA      | $1467430.57   | 0.14%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH CO     | California Municipal Finance Authority                                           | CUSIP: 130493CB3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    250000 | PA      | $263168.98    | 0.02%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEWISVILLE TX INDEP SCH DIST       | Lewisville Independent School District                                           | CUSIP: 52882PAS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $942592.80    | 0.09%             | 2034-08-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX WC&ID #159          | Harris County Water Control & Improvement District No 159                        | CUSIP: 41453SGM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1717332.64   | 0.16%             | 2030-09-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HSG FIN AGY MF     | Pennsylvania Housing Finance Agency                                              | CUSIP: 708797BG9<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |    500000 | PA      | $499285.15    | 0.05%             | 2041-06-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| DEL VALLE TX INDEP SCH DIST        | Del Valle Independent School District TX                                         | CUSIP: 245505WV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $714581.40    | 0.07%             | 2039-06-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| DENTON TX INDEP SCH DIST           | Denton Independent School District                                               | CUSIP: 249002NL6<br>LEI: 5493005I9W678SUI0Z07 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2580199.25   | 0.24%             | 2055-08-15      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| GUAM PWR AUTH REVENUE              | Guam Power Authority                                                             | CUSIP: 400653JZ5<br>LEI: 549300IPOV320QCKW060 | Long             | DBT              | MUN               | US        |    600000 | PA      | $648424.44    | 0.06%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN MATEO CALIF SPL TAX            | City of San Mateo CA                                                             | CUSIP: 79901PCV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1096111.20   | 0.10%             | 2035-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CLOVIS CA UNIF SCH DIST            | Clovis Unified School District                                                   | CUSIP: 189342WE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1291087.05   | 0.12%             | 2030-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH AL COMMO     | Southeast Energy Authority A Cooperative District                                | CUSIP: 84136FBL0<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3191328.90   | 0.30%             | 2053-01-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| BROWNSBURG IN 1999 SCH BLDG CO     | Brownsburg 1999 School Building Corp                                             | CUSIP: 116083ZP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5730000 | PA      | $6009799.34   | 0.57%             | 2041-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA     | Main Street Natural Gas Inc                                                      | CUSIP: 56035DJJ2<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   7230000 | PA      | $7589819.75   | 0.72%             | 2055-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| KING CNTY WA SWR REVENUE           | County of King WA Sewer Revenue                                                  | CUSIP: 495290EF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2964858.00   | 0.28%             | 2040-01-01      | Variable      | 2.96%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HSG & MTGE FIN A     | New Jersey Housing & Mortgage Finance Agency                                     | CUSIP: 64613ALR1<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3976194.40   | 0.38%             | 2045-10-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| CENTRL VLY CA ENERGY AUTH COMM     | Central Valley Energy Authority                                                  | CUSIP: 15569DAA0<br>LEI: 254900G5IPQ9MA3FRJ55 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1067656.20   | 0.10%             | 2055-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX MUNI UTILITY DI     | Harris County Municipal Utility District No 423                                  | CUSIP: 41429KDL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $316506.99    | 0.03%             | 2028-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MISSOURI JT MUNI ELEC UTILITY      | Missouri Joint Municipal Electric Utility Commission                             | CUSIP: 606092LC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1445000 | PA      | $1462199.55   | 0.14%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST CMNTY DEV ADMIN DE     | Maryland Community Development Administration                                    | CUSIP: 57419TGP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1505000 | PA      | $1320555.48   | 0.12%             | 2031-09-01      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH RE     | California Municipal Finance Authority                                           | CUSIP: 13048VL97<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500162.15    | 0.05%             | 2027-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL      | Black Belt Energy Gas District                                                   | CUSIP: 09182TCG0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4196211.20   | 0.40%             | 2053-02-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG DEV AUTH MF RE     | Michigan State Housing Development Authority                                     | CUSIP: 594650UJ0<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2030042.40   | 0.19%             | 2026-11-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| PRIV CLGS & UNIVS AUTH GA          | Private Colleges & Universities Authority                                        | CUSIP: 74265LZ50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $427337.91    | 0.04%             | 2039-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST SPL TAX OBLIG R     | State of Connecticut Special Tax Revenue                                         | CUSIP: 207758L27<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1070036.70   | 0.10%             | 2040-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE ST HLTH & EDU FA     | New Hampshire Health and Education Facilities Authority Act                      | CUSIP: 64461XJZ9<br>LEI: 549300CNCK7OT82W5653 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005320.00   | 0.09%             | 2038-06-01      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH NY BRIDGE & TUNNEL      | Triborough Bridge & Tunnel Authority                                             | CUSIP: 89602N4L5<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003402.50   | 0.09%             | 2038-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORT BEND TX INDEP SCH DIST        | Fort Bend Independent School District                                            | CUSIP: 346843VT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1327000.09   | 0.13%             | 2054-08-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI LEASE DEV R     | Public Finance Authority                                                         | CUSIP: 74444YAV6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002333.00   | 0.09%             | 2041-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SEATTLE WA HSG AUTH                | Seattle Housing Authority                                                        | CUSIP: 812636ML9<br>LEI: 5493003LM6XXXMFX5M88 | Long             | DBT              | MUN               | US        |    270000 | PA      | $263954.78    | 0.02%             | 2026-06-01      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL      | Black Belt Energy Gas District                                                   | CUSIP: 09182TAN7<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1630000 | PA      | $1605771.68   | 0.15%             | 2052-10-01      | Variable      | 3.08%                 | No            |                  2 | On Loan: No      |
| IOWA ST BRD REGENTS HOSP REVEN     | State of Iowa Board of Regents                                                   | CUSIP: 46256QQA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1485000 | PA      | $1371568.28   | 0.13%             | 2044-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE ST HLTH & EDU FA     | New Hampshire Health and Education Facilities Authority Act                      | CUSIP: 64461XJE6<br>LEI: 549300CNCK7OT82W5653 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2501789.50   | 0.24%             | 2033-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH INFRASTRUCTURE AGY TELECO     | Utah Infrastructure Agency                                                       | CUSIP: 917467BG6<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |    690000 | PA      | $689826.19    | 0.07%             | 2032-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ENERGY FIN DEV CORP       | New York Energy Finance Development Corp                                         | CUSIP: 64947PAA4<br>LEI: 254900PRGXZMJ912RI65 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3647780.85   | 0.34%             | 2056-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| MESA AZ                            | City of Mesa AZ                                                                  | CUSIP: 5904853W6<br>LEI: 549300L1QYAKFHSIGE94 | Long             | DBT              | MUN               | US        |   1895000 | PA      | $1970906.12   | 0.19%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY AZ POLL CONTROLC     | Maricopa County Pollution Control Corp                                           | CUSIP: 566854EF8<br>LEI: 549300QPXP6T4Y6I1D83 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $862245.60    | 0.08%             | 2040-04-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| JULINGTON CREEK PLANTATION FLC     | Julington Creek Plantation Community Development District                        | CUSIP: 481367BQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1312920.13   | 0.12%             | 2043-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA ST HSG FIN AGY SF MTG     | Oklahoma Housing Finance Agency                                                  | CUSIP: 67886MW88<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1122216.20   | 0.11%             | 2056-09-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| WINCHESTER VA ECON DEV AUTH RE     | Winchester Economic Development Authority                                        | CUSIP: 973122AF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1440000 | PA      | $1566860.69   | 0.15%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST ENTERPRISE DEV A     | California Enterprise Development Authority                                      | CUSIP: 13067RFT5<br>LEI: 549300544P6FSHU1HB46 | Long             | DBT              | MUN               | US        |    500000 | PA      | $446698.30    | 0.04%             | 2040-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GOLD HILL MESA MET DIST #2 CO      | Gold Hill Mesa Metropolitan District No 2                                        | CUSIP: 38060PAH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $155345.40    | 0.01%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST ENVRNMNTL IMPT & E     | Missouri State Environmental Improvement & Energy Resources Authority            | CUSIP: 606907BH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2708166.60   | 0.26%             | 2033-09-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV     | Colorado Health Facilities Authority                                             | CUSIP: 19648FLM4<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1995000 | PA      | $1978119.31   | 0.19%             | 2036-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IOWA ST FIN AUTH SF MTGE REVEN     | Iowa Finance Authority                                                           | CUSIP: 46247EDL6<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1103961.20   | 0.10%             | 2054-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HSG & MTGE FIN A     | New Jersey Housing & Mortgage Finance Agency                                     | CUSIP: 6461084M9<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005479.80   | 0.09%             | 2027-11-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| MARYLAND CMNTY DEV ADMIN HSG &     | Maryland Department of Housing & Community Development                           | CUSIP: 57419URA8<br>LEI: 549300Q5BSL77YR7NP93 | Long             | DBT              | MUN               | US        |    500000 | PA      | $561108.10    | 0.05%             | 2056-03-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| OREGON ST                          | State of Oregon                                                                  | CUSIP: 68609URB3<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |    815000 | PA      | $884660.82    | 0.08%             | 2039-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUBLIC SVC A     | South Carolina Public Service Authority                                          | CUSIP: 837151T25<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2152859.60   | 0.20%             | 2037-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI     | Washington State Housing Finance Commission                                      | CUSIP: 93978LJK3<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1024004.60   | 0.10%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST TRANSPRTN COMMISSION      | Central Texas Turnpike System                                                    | CUSIP: 88283KBQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1071893.50   | 0.10%             | 2042-08-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST HSG FIN AGY RSDL MTGE      | Ohio Housing Finance Agency                                                      | CUSIP: 67756UDQ8<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1129642.10   | 0.11%             | 2056-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GUADALUPE-BLANCO TX RIVER AUTH     | Guadalupe-Blanco River Authority                                                 | CUSIP: 400525AT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1980000 | PA      | $2138290.11   | 0.20%             | 2042-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX HGR EDU FIN CORP        | Houston Higher Education Finance Corp                                            | CUSIP: 442378GJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1915000 | PA      | $1810549.77   | 0.17%             | 2039-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST MUNI ENERGY AGY PW     | Kentucky Municipal Energy Agency                                                 | CUSIP: 491499AK5<br>LEI: 254900W8G3M70YHUAO94 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1067481.80   | 0.10%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                        | State of Illinois                                                                | CUSIP: 452153AJ8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1076335.70   | 0.10%             | 2030-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA     | Chicago O'Hare International Airport                                             | CUSIP: 167593M33<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2700000 | PA      | $2765998.80   | 0.26%             | 2039-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WENTZVILLE MO SCH DIST #R-4        | St Charles County School District No R-IV Wentzville                             | CUSIP: 950732YD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2095000 | PA      | $1993193.48   | 0.19%             | 2027-03-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST EDUCTNL FACS AUT     | New Jersey Educational Facilities Authority                                      | CUSIP: 646067KE7<br>LEI: 549300UTOO4X537XXG70 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1680085.65   | 0.16%             | 2064-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST MUNI ENERGY AGY PW     | Kentucky Municipal Energy Agency                                                 | CUSIP: 491499AN9<br>LEI: 254900W8G3M70YHUAO94 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1034141.40   | 0.10%             | 2041-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF CENTRAL ARKANSAS AR RE     | University of Central Arkansas                                                   | CUSIP: 914115M56<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $405864.00    | 0.04%             | 2034-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRIDGEPORT CT                      | City of Bridgeport CT                                                            | CUSIP: 108152AP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $619322.82    | 0.06%             | 2033-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GLENDALE AZ WTR & SWR REVENUE      | City of Glendale AZ Water & Sewer Revenue                                        | CUSIP: 378352SM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $726608.27    | 0.07%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH INFRASTRUCTURE AGY TELECO     | Utah Infrastructure Agency                                                       | CUSIP: 917467CC4<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |    645000 | PA      | $589029.22    | 0.06%             | 2038-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MIAMI BEACH FL WTR & SWR REVEN     | City of Miami Beach FL Water & Sewer Revenue                                     | CUSIP: 593241CE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1024672.50   | 0.10%             | 2034-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH ST PERSO     | New York State Dormitory Authority                                               | CUSIP: 64990KAV5<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |      5000 | PA      | $5251.23      | 0.00%             | 2040-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CNTY UT                  | County of Salt Lake UT                                                           | CUSIP: 795676UT0<br>LEI: 5493006VYRFL1AI6GT29 | Long             | DBT              | MUN               | US        |   1325000 | PA      | $1303296.24   | 0.12%             | 2028-12-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| STHRN CALIFORNIA ST PUBLIC PWR     | Southern California Public Power Authority                                       | CUSIP: 842469DL9<br>LEI: 5493003B5TD5FWUKMD34 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5282729.00   | 0.50%             | 2053-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE      | Metropolitan Transportation Authority                                            | CUSIP: 59261A2F3<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1015000 | PA      | $989766.09    | 0.09%             | 2047-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER CO CITY & CNTY DEDICATE     | City & County of Denver CO Pledged Excise Tax Revenue                            | CUSIP: 24917DAT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001666.40   | 0.09%             | 2044-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH INFRASTRUCTURE AGY TELECO     | Utah Infrastructure Agency                                                       | CUSIP: 917467BT8<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |    350000 | PA      | $353315.17    | 0.03%             | 2028-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IOWA ST BRD REGENTS HOSP REVEN     | State of Iowa Board of Regents                                                   | CUSIP: 46256QPZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $931740.30    | 0.09%             | 2043-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST TOLL HIGHWAY AUTH      | Illinois State Toll Highway Authority                                            | CUSIP: 452252KS7<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1497959.10   | 0.14%             | 2040-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO EDUCTNL & CULTURAL AU     | Colorado Educational & Cultural Facilities Authority                             | CUSIP: 19645UUS1<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |    500000 | PA      | $498026.45    | 0.05%             | 2035-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST MED CARE COM     | North Carolina Medical Care Commission                                           | CUSIP: 65821DZQ7<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1185080.05   | 0.11%             | 2038-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF CALIFORNIA CA REVENUES     | University of California                                                         | CUSIP: 91412HUU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2143398.40   | 0.20%             | 2040-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST INFRASTRUCTURE &     | California Infrastructure & Economic Development Bank                            | CUSIP: 13034A5E6<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |   2030000 | PA      | $2089241.90   | 0.20%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI DEV BK SPL OBLIG       | Mississippi Development Bank                                                     | CUSIP: 60534XM29<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |    740000 | PA      | $765814.60    | 0.07%             | 2039-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY CITY TRANSITIONAL      | New York City Transitional Finance Authority                                     | CUSIP: 64972JNN4<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1290825.38   | 0.12%             | 2048-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HSG & FIN AUTH         | Colorado Housing and Finance Authority                                           | CUSIP: 19648GXF4<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010840.50   | 0.10%             | 2029-10-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| TEXAS ST MUNI GAS ACQUISITION      | Texas Municipal Gas Acquisition and Supply Corp II                               | CUSIP: 88255QBH1<br>LEI: 8E22IH4TQD26WYDGHB25 | Long             | DBT              | MUN               | US        |   1475000 | PA      | $1477391.12   | 0.14%             | 2027-09-15      | Variable      | 3.71%                 | No            |                  2 | On Loan: No      |
| BARBERS HILL TX INDEP SCH DIST     | Barbers Hill Independent School District                                         | CUSIP: 067167B21<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $954478.10    | 0.09%             | 2041-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONRAD WEISER PA AREA SCH DIST     | Conrad Weiser Area School District                                               | CUSIP: 208356LV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002988.40   | 0.09%             | 2034-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HLTH & EDUCTNL      | Connecticut State Health & Educational Facilities Authority                      | CUSIP: 20775DYS5<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1392558.70   | 0.13%             | 2049-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| DOUGLAS CNTY KS UNIF SCH DIST#     | Douglas County Unified School District No 497 Lawrence                           | CUSIP: 259147SX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3410000 | PA      | $3193639.93   | 0.30%             | 2037-09-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| PASCO CNTY FL CAPITAL IMPT CIG     | County of Pasco FL                                                               | CUSIP: 70252AAE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1089412.60   | 0.10%             | 2029-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI     | Pennsylvania Turnpike Commission                                                 | CUSIP: 709225MT0<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1028527.60   | 0.10%             | 2043-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FOUR LAKES SPL ASSMNT DIST MI      | Four Lakes Special Assessment District                                           | CUSIP: 35088BAV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1710000 | PA      | $1722860.23   | 0.16%             | 2045-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| SHREVEPORT LA WTR & SWR REVENU     | City of Shreveport LA Water & Sewer Revenue                                      | CUSIP: 825485WM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $104405.93    | 0.01%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST HSG FIN & DE     | South Carolina State Housing Finance & Development Authority                     | CUSIP: 83712EHR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003151.90   | 0.09%             | 2026-10-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| SHREVEPORT LA                      | City of Shreveport LA                                                            | CUSIP: 8254346H1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $865191.11    | 0.08%             | 2038-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEWPORT NEWS VA WTR REVENUE        | City of Newport News VA Water Revenue                                            | CUSIP: 652282DL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3080000 | PA      | $2284108.60   | 0.22%             | 2036-07-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| MUNI ELEC AUTH OF GEORGIA          | Municipal Electric Authority of Georgia                                          | CUSIP: 626207W91<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3554559.40   | 0.34%             | 2039-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INTERMOUNTAIN PWR AGY UT PWR S     | Intermountain Power Agency                                                       | CUSIP: 45884AK77<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    715000 | PA      | $742640.40    | 0.07%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UPTOWN DEV AUTH TX INCR CONTRA     | Uptown Development Authority                                                     | CUSIP: 916856GK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $501835.10    | 0.05%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA HSG DEV AUTH              | Virginia Housing Development Authority                                           | CUSIP: 92812XFJ6<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |    900000 | PA      | $899923.23    | 0.08%             | 2055-07-01      | Variable      | 3.62%                 | No            |                  2 | On Loan: No      |
| SHERMAN TX INDEP SCH DIST          | Sherman Independent School District/TX                                           | CUSIP: 824178F36<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1340492.50   | 0.13%             | 2038-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT WTR & PWR      | Los Angeles Department of Water & Power                                          | CUSIP: 5444952R4<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    175000 | PA      | $176884.19    | 0.02%             | 2037-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST FIN AUTH REVENUE       | Michigan Finance Authority                                                       | CUSIP: 59447THF3<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $977528.60    | 0.09%             | 2044-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX AZ INDL DEV AUTH LEASE     | Industrial Development Authority of the City of Phoenix Arizona/The              | CUSIP: 71885MBV3<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |   8000000 | PA      | $8100275.20   | 0.76%             | 2044-10-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HSG SYNERGY PFC TX MF HSG REVE     | Housing Synergy PFC                                                              | CUSIP: 44184QAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009928.60   | 0.10%             | 2027-02-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE NC ARPT REVENUE          | City of Charlotte NC Airport Revenue                                             | CUSIP: 161036XE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1464164.80   | 0.14%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH MF HS     | Arizona Industrial Development Authority                                         | CUSIP: 04062PBK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1012019.30   | 0.10%             | 2044-10-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT BUSINESS PRIVILEGE T     | Territory of Guam                                                                | CUSIP: 40065NDD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2128279.80   | 0.20%             | 2037-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| JACKSON CNTY MO SCH DIST HICKM     | Hickman Mills C-1 School District/MO                                             | CUSIP: 46741RDE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3390000 | PA      | $3549632.73   | 0.33%             | 2042-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| KERRVILLE TX PUBLIC UTILITY BR     | Kerrville Public Utility Board Public Facility Corp                              | CUSIP: 492450AJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2170000 | PA      | $2350345.45   | 0.22%             | 2036-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST HSG FIN AGY AFFORD     | New York State Housing Finance Agency                                            | CUSIP: 64987J4L2<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1512058.20   | 0.14%             | 2064-11-01      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| SABINE-NECHES NAV DIST TX          | Sabine-Neches Navigation District                                                | CUSIP: 78532EAP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1065554.70   | 0.10%             | 2037-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE-MECKLENBURG NC HOSPA     | Charlotte-Mecklenburg Hospital Authority/The                                     | CUSIP: 160853UL9<br>LEI: 549300XOH4JU704GMZ32 | Long             | DBT              | MUN               | US        |   5200000 | PA      | $5200000.00   | 0.49%             | 2048-01-15      | Variable      | 2.80%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY CITY TRANSITIONAL      | New York City Transitional Finance Authority                                     | CUSIP: 64972JCD8<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2052325.20   | 0.19%             | 2048-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TAMPA BAY FL WTR REGL WTR SPLY     | Tampa Bay Water                                                                  | CUSIP: 875124HE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1694218.88   | 0.16%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST LIBERTY DEV CORP L     | New York Liberty Development Corp                                                | CUSIP: 649519DA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4786258.50   | 0.45%             | 2044-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INTERMOUNTAIN PWR AGY UT PWR S     | Intermountain Power Agency                                                       | CUSIP: 45884AF32<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    970000 | PA      | $1018248.19   | 0.10%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX MUNI UTILITY DI     | Harris County Municipal Utility District No 43                                   | CUSIP: 414215FP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2010000 | PA      | $2191112.66   | 0.21%             | 2032-09-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| S JERSEY NJ TRANSPRTN AUTH TRA     | South Jersey Transportation Authority                                            | CUSIP: 838536NR7<br>LEI: 549300W8SZI2CAOKT956 | Long             | DBT              | MUN               | US        |   1485000 | PA      | $1390731.90   | 0.13%             | 2039-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LAFAYETTE LA UTILITIES REVENUE     | City of Lafayette LA Utilities Revenue                                           | CUSIP: 506498C85<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $586569.12    | 0.06%             | 2038-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORTLAND OR SWR SYS REVENUE        | City of Portland OR Sewer System Revenue                                         | CUSIP: 736742G92<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1680000 | PA      | $1696279.20   | 0.16%             | 2047-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA SAN AUTH         | Allegheny County Sanitary Authority                                              | CUSIP: 017357A79<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $502733.10    | 0.05%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY BOND DEV CORP HOSP RE     | Kentucky Bond Development Corp                                                   | CUSIP: 49121DAB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2050000 | PA      | $2245565.90   | 0.21%             | 2055-08-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO EDUCTNL & CULTURAL AU     | Colorado Educational & Cultural Facilities Authority                             | CUSIP: 19645UUT9<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |    800000 | PA      | $805918.00    | 0.08%             | 2045-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| KANSAS CITY MO SPL OBLG            | City of Kansas City MO                                                           | CUSIP: 485106YQ5<br>LEI: 549300EGAE3I3XU7XE19 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1066809.80   | 0.10%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GUAM INTERNATIONAL ARPT AUTH       | Antonio B Won Pat International Airport Authority                                | CUSIP: 40064RGJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $159584.73    | 0.02%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF WTR & P     | Los Angeles Department of Water & Power                                          | CUSIP: 544532NR1<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5567450.50   | 0.53%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEMPLE UNIV PA OF THE CMWLTH S     | Temple University-of The Commonwealth System of Higher Education                 | CUSIP: 880178DA3<br>LEI: 549300SCHVPNNFRR3L71 | Long             | DBT              | MUN               | US        |    800000 | PA      | $833346.88    | 0.08%             | 2042-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH ST PERSO     | New York State Dormitory Authority                                               | CUSIP: 64990FL36<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    500000 | PA      | $401435.75    | 0.04%             | 2041-03-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE ST HSG AUTH REVENUE       | Delaware State Housing Authority                                                 | CUSIP: 246395K22<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1195000 | PA      | $1289993.66   | 0.12%             | 2055-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CORPUS CHRISTI TX UTILITY SYSR     | City of Corpus Christi TX Utility System Revenue                                 | CUSIP: 220245Z31<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1065441.10   | 0.10%             | 2028-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MATAGORDA CNTY TX NAV DIST #1      | Matagorda County Navigation District No 1                                        | CUSIP: 576528DT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $962798.50    | 0.09%             | 2029-11-01      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| OREGON ST HSG & CMNTY SVCS DEP     | State of Oregon Housing & Community Services Department                          | CUSIP: 6860875V5<br>LEI: 549300N3PYWYJ0Z8N757 | Long             | DBT              | MUN               | US        |    975000 | PA      | $1085991.76   | 0.10%             | 2054-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| JOLIET IL                          | City of Joliet IL                                                                | CUSIP: 479754NN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1045920.90   | 0.10%             | 2039-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY HSG DEV CORP      | New York City Housing Development Corp                                           | CUSIP: 64972KGU3<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006528.60   | 0.09%             | 2064-11-01      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL     | Rhode Island Health and Educational Building Corp                                | CUSIP: 762196X24<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $189853.27    | 0.02%             | 2041-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| KERRVILLE TX PUBLIC UTILITY BR     | Kerrville Public Utility Board Public Facility Corp                              | CUSIP: 492450AM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1312666.50   | 0.12%             | 2039-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HSG & MTGE FIN     | Rhode Island Housing & Mortgage Finance Corp                                     | CUSIP: 76221RY23<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |    350000 | PA      | $372744.09    | 0.04%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHESTER CNTY PA INDL DEV AUTH      | Chester County Industrial Development Authority                                  | CUSIP: 165588FQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $364438.73    | 0.03%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALABAMA FEDERAL AID HIGHWAY FI     | Alabama Federal Aid Highway Finance Authority                                    | CUSIP: 010268DJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $834330.15    | 0.08%             | 2036-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                        | State of Illinois                                                                | CUSIP: 452153AH2<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1470000 | PA      | $1565826.65   | 0.15%             | 2029-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH CO     | California Municipal Finance Authority                                           | CUSIP: 130493CD9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    410000 | PA      | $438731.90    | 0.04%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GOLD HILL MESA MET DIST #2 CO      | Gold Hill Mesa Metropolitan District No 2                                        | CUSIP: 38060PAG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $153430.01    | 0.01%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST LIBERTY DEV CORP L     | New York Liberty Development Corp                                                | CUSIP: 649519ED3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1070000 | PA      | $779071.71    | 0.07%             | 2041-11-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| FRANKLIN CNTY OH HOSP FACS REV     | County of Franklin OH                                                            | CUSIP: 353187EW3<br>LEI: 549300VCBUC1RZE7KL42 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5000000.00   | 0.47%             | 2042-11-01      | Variable      | 2.80%                 | No            |                  2 | On Loan: No      |
| CORPUS CHRISTI TX UTILITY SYSR     | City of Corpus Christi TX Utility System Revenue                                 | CUSIP: 2202455F7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1455000 | PA      | $1610533.24   | 0.15%             | 2031-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCK ISLAND & MERCER CNTYS ILC     | Rock Island & Mercer Counties Community Unit School District No 300              | CUSIP: 772283EB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1790000 | PA      | $1803177.80   | 0.17%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRL PLAINS ENERGY PROJ NE G     | Central Plains Energy Project                                                    | CUSIP: 154871CC9<br>LEI: SVQOT7V5CPLIGNP5BE29 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1029964.50   | 0.10%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST HSG DEV AUTH MF HS     | Illinois Housing Development Authority                                           | CUSIP: 45203LEK5<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3029785.80   | 0.29%             | 2027-02-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUBLIC SVC A     | South Carolina Public Service Authority                                          | CUSIP: 8371514Q9<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   1120000 | PA      | $1170700.16   | 0.11%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TX INDEP SCH DIST        | Arlington Independent School District/TX                                         | CUSIP: 0418263E6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1507309.20   | 0.14%             | 2039-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RICHMOND MI CMNTY SCHS             | Richmond Community Schools/MI                                                    | CUSIP: 765177CU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1454040.28   | 0.14%             | 2036-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX AZ INDL DEV AUTH MF HS     | Industrial Development Authority of the City of Phoenix Arizona/The              | CUSIP: 718903RV1<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000891.60   | 0.09%             | 2059-02-01      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| PITTSBURGH PA WTR & SWR AUTH       | Pittsburgh Water & Sewer Authority                                               | CUSIP: 725304WT2<br>LEI: 54930034DVH6W22T1E86 | Long             | DBT              | MUN               | US        |   1285000 | PA      | $1373882.68   | 0.13%             | 2036-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAYS TX CONSOL INDEP SCH DIST      | Hays Consolidated Independent School District                                    | CUSIP: 4211107Z4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $907150.00    | 0.09%             | 2043-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HARRISONBURG VA                    | City of Harrisonburg VA                                                          | CUSIP: 415666RW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $1936887.00   | 0.18%             | 2035-07-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TX HGR EDU FIN CORP      | Arlington Higher Education Finance Corp                                          | CUSIP: 041807GT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1590000 | PA      | $1420638.45   | 0.13%             | 2044-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HSG & MTGE FIN     | Rhode Island Housing & Mortgage Finance Corp                                     | CUSIP: 76221SDM0<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001591.90   | 0.09%             | 2049-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GRAND RAPIDS MI PUBLIC SCHS        | Grand Rapids Public Schools                                                      | CUSIP: 386280PZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2105000 | PA      | $2140708.17   | 0.20%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUBLIC SVC A     | South Carolina Public Service Authority                                          | CUSIP: 8371515Q8<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2004947.80   | 0.19%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST HSG FIN & DE     | South Carolina State Housing Finance & Development Authority                     | CUSIP: 83712D7Q3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    995000 | PA      | $1127352.21   | 0.11%             | 2055-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTHORITY A C     | Southeast Energy Authority A Cooperative District                                | CUSIP: 84136HBA0<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1056369.10   | 0.10%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KERRVILLE TX PUBLIC UTILITY BR     | Kerrville Public Utility Board Public Facility Corp                              | CUSIP: 492450AG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1980000 | PA      | $2183399.06   | 0.21%             | 2034-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST CMNTY DEV ADMIN DE     | Maryland Community Development Administration                                    | CUSIP: 57419TWC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007598.90   | 0.10%             | 2042-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AKRON BATH COPLEY JT TWP OH HO     | Akron Bath Copley Joint Township Hospital District                               | CUSIP: 009730PL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1173281.34   | 0.11%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH HSG CORP SF MTGE REVENUE      | Utah Housing Corp                                                                | CUSIP: 917437RU1<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |    995000 | PA      | $1111670.22   | 0.10%             | 2055-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL HSG FIN AUT     | Miami-Dade County Housing Finance Authority                                      | CUSIP: 593344CA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1015677.90   | 0.10%             | 2029-03-01      | Variable      | 3.55%                 | No            |                  2 | On Loan: No      |
| IOWA ST HGR EDU LOAN AUTH REVE     | Iowa Higher Education Loan Authority                                             | CUSIP: 46247DAC1<br>LEI: 549300DWVTM3KRNR0M36 | Long             | DBT              | MUN               | US        |    365000 | PA      | $375796.85    | 0.04%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA HSG FIN AGY M     | District of Columbia Housing Finance Agency                                      | CUSIP: 25477PPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2027416.80   | 0.19%             | 2041-10-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW ORLEANS LA                     | City of New Orleans LA                                                           | CUSIP: 64763FE62<br>LEI: 54930084B6KHR5PR2651 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1352066.13   | 0.13%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTHORITY A C     | Southeast Energy Authority A Cooperative District                                | CUSIP: 84136HBC6<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1311637.21   | 0.12%             | 2056-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| TENNERGY CORP TN GAS REVENUE       | Tennergy Corp/TN                                                                 | CUSIP: 880397BW3<br>LEI: 5493008K3JJFBSC4C235 | Long             | DBT              | MUN               | US        |   1070000 | PA      | $1075644.79   | 0.10%             | 2051-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| FAIRFAX CNTY VA                    | County of Fairfax VA                                                             | CUSIP: 30382AEQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    655000 | PA      | $661339.94    | 0.06%             | 2028-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| STHRN CALIFORNIA ST PUBLIC PWR     | Southern California Public Power Authority                                       | CUSIP: 842469DE5<br>LEI: 5493003B5TD5FWUKMD34 | Long             | DBT              | MUN               | US        |   1320000 | PA      | $1390494.86   | 0.13%             | 2042-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST PWR AUTH GREEN TRA     | New York Power Authority                                                         | CUSIP: 65000XBK5<br>LEI: I5P1GEYFGGMMDOFX2L30 | Long             | DBT              | MUN               | US        |   1215000 | PA      | $1346072.74   | 0.13%             | 2036-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF WTR & P     | Los Angeles Department of Water & Power                                          | CUSIP: 544532QD9<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    500000 | PA      | $552772.95    | 0.05%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEANDER TX INDEP SCH DIST          | Leander Independent School District                                              | CUSIP: 521841Q82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $749291.30    | 0.07%             | 2033-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST TECH CLG SYS FING SYS     | Texas State Technical College                                                    | CUSIP: 88276REV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1450000.00   | 0.14%             | 2025-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A     | California Community Choice Financing Authority                                  | CUSIP: 13013JEB8<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   4090000 | PA      | $4325881.34   | 0.41%             | 2055-08-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA URBAN RSDL FIN AUTH     | Atlanta Urban Residential Finance Authority                                      | CUSIP: 04785VBW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3031934.10   | 0.29%             | 2029-02-01      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH ST PERSO     | New York State Dormitory Authority                                               | CUSIP: 64990FW83<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    500000 | PA      | $477199.95    | 0.05%             | 2039-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL                         | City of Chicago IL                                                               | CUSIP: 167486L80<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1568519.25   | 0.15%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PUBLIC ENERGY AUTH     | Kentucky Public Energy Authority                                                 | CUSIP: 74440DFC3<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   7430000 | PA      | $7857820.14   | 0.74%             | 2055-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST LIBERTY DEV CORP L     | New York Liberty Development Corp                                                | CUSIP: 649519FF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1798273.00   | 0.17%             | 2043-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MEMPHIS TN HLTH EDUCTNL & HSG      | Health Educational and Housing Facility Board of the City of Memphis/the         | CUSIP: 586169GC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    520000 | PA      | $529623.54    | 0.05%             | 2027-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HSG & ECON DEV AU     | Wisconsin Housing & Economic Development Authority                               | CUSIP: 97689REX8<br>LEI: 549300AT0SEG8YQT2K79 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3594668.35   | 0.34%             | 2027-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL                         | City of Chicago IL                                                               | CUSIP: 167484QS6<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    515000 | PA      | $493669.68    | 0.05%             | 2027-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CORPUS CHRISTI TX UTILITY SYSR     | City of Corpus Christi TX Utility System Revenue                                 | CUSIP: 2202455E0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1102140.20   | 0.10%             | 2030-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PALM BEACH CNTY FL HSG FIN AUT     | Palm Beach County Housing Finance Authority                                      | CUSIP: 696513AV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009928.60   | 0.10%             | 2027-02-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX HLTH FACS DEV C     | Harris County Health Facilities Development Corp                                 | CUSIP: 41315RGV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5000000.00   | 0.47%             | 2041-12-01      | Variable      | 2.80%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF WTR & P     | Los Angeles Department of Water & Power                                          | CUSIP: 544532MQ4<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1021761.90   | 0.10%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MATTESON IL                        | Village of Matteson IL                                                           | CUSIP: 577098NV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    465000 | PA      | $490284.51    | 0.05%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF WTR & P     | Los Angeles Department of Water & Power                                          | CUSIP: 544532GM0<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   2215000 | PA      | $2398346.85   | 0.23%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SABINE-NECHES NAV DIST TX          | Sabine-Neches Navigation District                                                | CUSIP: 78532EAT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2064460.20   | 0.19%             | 2041-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UTAH ST ASSOCIATED MUNI PWR SY     | Utah Associated Municipal Power Systems                                          | CUSIP: 917328RV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $521208.10    | 0.05%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OKEECHOBEE CNTY FL SOL WST REV     | County of Okeechobee FL                                                          | CUSIP: 678438AC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $988526.80    | 0.09%             | 2039-07-01      | Variable      | 3.80%                 | No            |                  2 | On Loan: No      |
| LONG ISLAND NY PWR AUTH ELEC S     | Long Island Power Authority                                                      | CUSIP: 542691KB5<br>LEI: 1R46U5SYJ63KQXF39168 | Long             | DBT              | MUN               | US        |   1780000 | PA      | $1717821.93   | 0.16%             | 2049-09-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE      | Metropolitan Transportation Authority                                            | CUSIP: 59261AM53<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5000000.00   | 0.47%             | 2050-11-15      | Variable      | 2.90%                 | No            |                  2 | On Loan: No      |
| TARRANT CNTY TX CULTURAL EDU F     | Tarrant County Cultural Education Facilities Finance Corp                        | CUSIP: 87638TJU8<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6571725.60   | 0.62%             | 2064-11-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG DEV AUTH SF MT     | Michigan State Housing Development Authority                                     | CUSIP: 594654ZT5<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |    795000 | PA      | $875332.44    | 0.08%             | 2055-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TX HGR EDU FIN CORP      | Arlington Higher Education Finance Corp                                          | CUSIP: 041807BB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2451048.38   | 0.23%             | 2032-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF WTR & P     | Los Angeles Department of Water & Power Water System Revenue                     | CUSIP: 544525L97<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    165000 | PA      | $168770.88    | 0.02%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST FIN AUTH REVENUE       | Michigan Finance Authority                                                       | CUSIP: 59447T8C0<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1505000 | PA      | $1506390.62   | 0.14%             | 2044-12-01      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| SPRINGFIELD IL ELEC REVENUE        | City of Springfield IL Electric Revenue                                          | CUSIP: 850578UK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2100000 | PA      | $1834368.48   | 0.17%             | 2038-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL      | Black Belt Energy Gas District                                                   | CUSIP: 09182TBD8<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    900000 | PA      | $880482.06    | 0.08%             | 2053-04-01      | Variable      | 3.38%                 | No            |                  2 | On Loan: No      |
| ALAMITO TX PUBLIC FACS CORP MF     | Alamito Public Facility Corp                                                     | CUSIP: 011245AJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009512.60   | 0.10%             | 2044-08-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| NORFOLK VA ARPT AUTH REVENUE       | Norfolk Airport Authority/VA                                                     | CUSIP: 655857DW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $159053.43    | 0.02%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HSG & MTGE FIN     | Rhode Island Housing & Mortgage Finance Corp                                     | CUSIP: 76221SBJ9<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020954.70   | 0.10%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI DEV BK SPL OBLIG       | Mississippi Development Bank                                                     | CUSIP: 60534XS72<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |    750000 | PA      | $794100.53    | 0.07%             | 2040-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FAYETTEVILLE NC PUBLIC WKS COM     | City of Fayetteville NC Public Works Commission Revenue                          | CUSIP: 312805LX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3395000 | PA      | $2664140.70   | 0.25%             | 2036-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST MUNI PWR AGY PWR S     | Kentucky Municipal Power Agency                                                  | CUSIP: 491501EC2<br>LEI: 2549001MTI3IE05Z7959 | Long             | DBT              | MUN               | US        |    810000 | PA      | $810429.79    | 0.08%             | 2042-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA ST FIN AUTH HLTH FACS REV     | Iowa Finance Authority                                                           | CUSIP: 462466GK3<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   1690000 | PA      | $1693794.73   | 0.16%             | 2045-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZATION CORP      | Sales Tax Securitization Corp                                                    | CUSIP: 79467BCY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1700774.10   | 0.16%             | 2038-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH NY BRIDGE & TUNNEL      | Triborough Bridge & Tunnel Authority                                             | CUSIP: 89602N3B8<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   2900000 | PA      | $2903481.16   | 0.27%             | 2040-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA     | Main Street Natural Gas Inc                                                      | CUSIP: 56035DHZ8<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1855830.90   | 0.18%             | 2054-04-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| HONOLULU CITY & CNTY HI WSTWTR     | City & County Honolulu HI Wastewater System Revenue                              | CUSIP: 438701L44<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1012139.90   | 0.10%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SWEETWATER CNTY WY 2023 SPECIF     | Sweetwater County 2023 Specific Purpose Tax Joint Powers Board                   | CUSIP: 87048HAF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3188591.70   | 0.30%             | 2028-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST STWD CMNTYS DEVA     | California Statewide Communities Development Authority                           | CUSIP: 13078HAY8<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $912348.60    | 0.09%             | 2029-09-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| JEA FL WTR & SWR REVENUE           | JEA Water & Sewer System Revenue                                                 | CUSIP: 46615SGJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031964.20   | 0.10%             | 2049-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                        | City of New York NY                                                              | CUSIP: 64966SMN3<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1534264.05   | 0.14%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF WTR & P     | Los Angeles Department of Water & Power                                          | CUSIP: 544532GP3<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   1180000 | PA      | $1303246.75   | 0.12%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH MF HS     | Arizona Industrial Development Authority                                         | CUSIP: 04062PBR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2563432.50   | 0.24%             | 2042-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| SPRINGFIELD IL ELEC REVENUE        | City of Springfield IL Electric Revenue                                          | CUSIP: 850578UC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8340000 | PA      | $9194287.88   | 0.87%             | 2032-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FAYETTE CNTY OH HOSP FACS IMPT     | County of Fayette OH                                                             | CUSIP: 312446AG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1114048.30   | 0.11%             | 2034-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GRAND FORKS ND HLTH CARE SYS R     | City of Grand Forks ND                                                           | CUSIP: 38546WDX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $530650.00    | 0.05%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OREGON ST DEPT OF TRANSPRTN HI     | State of Oregon Department of Transportation                                     | CUSIP: 68607DUN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5062338.50   | 0.48%             | 2042-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLLEGE STATION TX                 | City of College Station TX                                                       | CUSIP: 194469LK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1020000 | PA      | $730398.44    | 0.07%             | 2039-02-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                        | State of Illinois                                                                | CUSIP: 452152Q20<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1042391.20   | 0.10%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISVILLE & JEFFERSON CNTY KY     | Louisville/Jefferson County Metropolitan Government                              | CUSIP: 54659LBQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $506797.80    | 0.05%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KERRVILLE TX PUBLIC UTILITY BR     | Kerrville Public Utility Board Public Facility Corp                              | CUSIP: 492450AT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3905000 | PA      | $4018996.71   | 0.38%             | 2045-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| INTERMOUNTAIN PWR AGY UT PWR S     | Intermountain Power Agency                                                       | CUSIP: 45884AK44<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1035000 | PA      | $1103369.20   | 0.10%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NV                      | County of Clark NV                                                               | CUSIP: 180848PK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $958300.10    | 0.09%             | 2039-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FOUR LAKES SPL ASSMNT DIST MI      | Four Lakes Special Assessment District                                           | CUSIP: 35088BAS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2105000 | PA      | $2138364.04   | 0.20%             | 2042-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH INFRASTRUCTURE AGY TELECO     | Utah Infrastructure Agency                                                       | CUSIP: 917467BX9<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |    500000 | PA      | $494018.15    | 0.05%             | 2032-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PASCO CNTY FL CAPITAL IMPT CIG     | County of Pasco FL                                                               | CUSIP: 70252AAD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1071396.60   | 0.10%             | 2028-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ST HOSP FIN AUTH     | West Virginia Hospital Finance Authority                                         | CUSIP: 956622Y73<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1015510.60   | 0.10%             | 2045-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| IRVING TX INDEP SCH DIST           | Irving Independent School District                                               | CUSIP: 463813L60<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1490000 | PA      | $1577212.53   | 0.15%             | 2038-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ASHLAND KY MED CENTER REVENUE      | City of Ashland KY                                                               | CUSIP: 044293BF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $491229.55    | 0.05%             | 2040-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY & PHOENIX AZ IND     | Maricopa County & Phoenix Industrial Development Authorities                     | CUSIP: 566736HU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1112865.30   | 0.11%             | 2055-03-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ST HOSP FIN AUTH     | West Virginia Hospital Finance Authority                                         | CUSIP: 956622Z23<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1064700.00   | 0.10%             | 2055-06-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV     | Colorado Health Facilities Authority                                             | CUSIP: 19648FXJ8<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    105000 | PA      | $109360.02    | 0.01%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON CNTY VA INDL DEV AUT     | Arlington County Industrial Development Authority                                | CUSIP: 04144PDW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1261704.25   | 0.12%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KELSEYVILLE CA UNIF SCH DIST       | Kelseyville Unified School District                                              | CUSIP: 488224DQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $25540.59     | 0.00%             | 2033-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WYOMING ST CMNTY DEV AUTH HSG      | Wyoming Community Development Authority                                          | CUSIP: 98322QS81<br>LEI: 549300UQ62NB8FGTHW65 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $967358.70    | 0.09%             | 2040-12-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZATION CORP      | Sales Tax Securitization Corp                                                    | CUSIP: 79467BCU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $533554.45    | 0.05%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHERRY CREEK CO SCH DIST #5        | Arapahoe County School District No 5 Cherry Creek                                | CUSIP: 164555BR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $493058.10    | 0.05%             | 2026-12-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| DALLAS TX INDEP SCH DIST           | Dallas Independent School District                                               | CUSIP: 235308ZJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $955004.85    | 0.09%             | 2042-02-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST MED CARE COM     | North Carolina Medical Care Commission                                           | CUSIP: 65821DZV6<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1077666.70   | 0.10%             | 2055-06-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                      | State of California                                                              | CUSIP: 13063CX54<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $502919.35    | 0.05%             | 2032-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OREGON ST DEPT OF ADMIN SVCS L     | Oregon State Lottery                                                             | CUSIP: 68607V6P5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2657279.50   | 0.25%             | 2041-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ST HOSP FIN AUTH     | West Virginia Hospital Finance Authority                                         | CUSIP: 956622X66<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1074189.50   | 0.10%             | 2036-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MATAGORDA CNTY TX NAV DIST #1      | Matagorda County Navigation District No 1                                        | CUSIP: 576528DQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1020000 | PA      | $1020316.00   | 0.10%             | 2030-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PUBLIC ENERGY AUTH     | Kentucky Public Energy Authority                                                 | CUSIP: 74440DCZ5<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5030685.50   | 0.47%             | 2050-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST HSG FIN AGY      | North Carolina Housing Finance Agency                                            | CUSIP: 6582077Q2<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |    990000 | PA      | $1101865.15   | 0.10%             | 2055-01-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF WTR & P     | Los Angeles Department of Water & Power                                          | CUSIP: 544532DW1<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    995000 | PA      | $1041890.17   | 0.10%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH CO     | California Municipal Finance Authority                                           | CUSIP: 130493CF4<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    225000 | PA      | $241210.10    | 0.02%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEVADA ST HIGHWAY IMPT REVENUE     | State of Nevada Highway Improvement Revenue                                      | CUSIP: 641480PA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $804611.80    | 0.08%             | 2041-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ALAMANCE CNTY NC                   | County of Alamance NC                                                            | CUSIP: 010734TN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1215597.15   | 0.11%             | 2035-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST                      | State of Washington                                                              | CUSIP: 93974EF50<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   1420000 | PA      | $1485037.56   | 0.14%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV     | Colorado Health Facilities Authority                                             | CUSIP: 19648FYN8<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1079932.70   | 0.10%             | 2059-11-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| PECOS BARSTOW TOYAH TX INDEP S     | Pecos Barstow Toyah Independent School District                                  | CUSIP: 705227HP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2009745.60   | 0.19%             | 2039-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ISLE OF WIGHT CNTY VA ECON DEV     | Isle Wight County Industrial Development Authority                               | CUSIP: 464637AM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1069010.70   | 0.10%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ESSEX CNTY NJ IMPT AUTH CHRT S     | Essex County Improvement Authority                                               | CUSIP: 29681CAG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $421103.20    | 0.04%             | 2028-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON CNTY OR SCH DIST #4     | Washington & Multnomah Counties School District No 48J Beaverton                 | CUSIP: 9384292M8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $493714.90    | 0.05%             | 2040-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HGR EDUCTNL FA     | Pennsylvania Higher Educational Facilities Authority                             | CUSIP: 70917TTK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2231777.80   | 0.21%             | 2033-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX AZ CIVIC IMPT CORP ARP     | City of Phoenix Civic Improvement Corp                                           | CUSIP: 71883MRM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1533252.90   | 0.14%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNION ALEXANDER ETC CNTYS IL C     | Union Alexander Massac Pulaski Etc Counties Community College District No 531    | CUSIP: 904842DF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1182312.03   | 0.11%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES MI WTR AUTH SEWAGE     | Great Lakes Water Authority Sewage Disposal System Revenue                       | CUSIP: 39081HAS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    810000 | PA      | $817213.21    | 0.08%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA CNTY PA INDL DEV AUTH      | Indiana County Industrial Development Authority                                  | CUSIP: 45469NDV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $257298.13    | 0.02%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH CO     | California Municipal Finance Authority                                           | CUSIP: 130493CG2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1247957.16   | 0.12%             | 2033-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WRIGHT CITY MO SCH DIST #R-2       | Wright City R-II School District                                                 | CUSIP: 982260HP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $40447.87     | 0.00%             | 2031-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTHORITY A C     | Southeast Energy Authority A Cooperative District                                | CUSIP: 84136HCF8<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   6115000 | PA      | $6502508.77   | 0.61%             | 2055-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| JESUP IA CMNTY SCH DIST            | Jesup Community School District                                                  | CUSIP: 477070BL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    490000 | PA      | $509351.72    | 0.05%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA HSG FIN AGY HOM     | North Carolina Housing Finance Agency                                            | CUSIP: 65820BBB1<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |   1330000 | PA      | $1330614.06   | 0.13%             | 2056-07-01      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| AUSTIN TX ELEC UTILITY SYS REV     | City of Austin TX Electric Utility Revenue                                       | CUSIP: 052414PU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1455000 | PA      | $1455610.81   | 0.14%             | 2045-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ANTELOPE VLY-E KERN CA WTR AGY     | Antelope Valley-East Kern Water Agency Financing Authority                       | CUSIP: 03672XAX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  17000000 | PA      | $17594695.70  | 1.66%             | 2055-04-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| TUCSON & PIMA CNTYS AZ INDL DE     | Tucson Industrial Development Authority/Pima County Industrial Development Auth  | CUSIP: 898700JA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1085293.40   | 0.10%             | 2056-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SALEM OR HOSP FAC AUTH REVENUE     | Salem Hospital Facility Authority                                                | CUSIP: 794458EH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $882711.80    | 0.08%             | 2041-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV     | Colorado Health Facilities Authority                                             | CUSIP: 19648FZQ0<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1635271.95   | 0.15%             | 2060-11-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE      | Metropolitan Transportation Authority                                            | CUSIP: 59261A5B9<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1992801.60   | 0.19%             | 2044-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST THRUWAY AUTH PERSO     | New York State Thruway Authority                                                 | CUSIP: 650028XD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1165000 | PA      | $1041844.12   | 0.10%             | 2043-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A     | California Community Choice Financing Authority                                  | CUSIP: 13013JFS0<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3890379.00   | 0.37%             | 2055-11-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA     | Main Street Natural Gas Inc                                                      | CUSIP: 56035DEE8<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   5735000 | PA      | $5983229.73   | 0.56%             | 2052-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI ST HOME CORP SF MT     | Mississippi Home Corp                                                            | CUSIP: 60535QS35<br>LEI: 549300FFY35B829JR607 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031064.10   | 0.10%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ST HOSP FIN AUTH     | West Virginia Hospital Finance Authority                                         | CUSIP: 956622Y40<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1033009.00   | 0.10%             | 2042-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH MUNI CTFS     | New Hampshire Business Finance Authority                                         | CUSIP: 63607WAQ7<br>LEI: N/A                  | Long             | ABS-MBS          | MUN               | US        |    984857 | PA      | $934522.53    | 0.09%             | 2041-07-20      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| TEMPLE UNIV PA OF THE CMWLTH S     | Temple University-of The Commonwealth System of Higher Education                 | CUSIP: 880178DD7<br>LEI: 549300SCHVPNNFRR3L71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023261.20   | 0.10%             | 2045-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET KNOXVILLE TN ARPT AUTH ARP     | Metropolitan Knoxville Airport Authority                                         | CUSIP: 592174AS5<br>LEI: 254900VWGT8D1GF6ZY16 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1013639.10   | 0.10%             | 2044-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A     | California Community Choice Financing Authority                                  | CUSIP: 13013JGF7<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1857016.53   | 0.18%             | 2056-03-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| PARKER CNTY TX                     | County of Parker TX                                                              | CUSIP: 701060JG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6625000 | PA      | $6661810.49   | 0.63%             | 2042-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE      | Metropolitan Transportation Authority                                            | CUSIP: 59261APJ0<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $725676.00    | 0.07%             | 2033-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES MI WTR AUTH WTR SP     | Great Lakes Water Authority Water Supply System Revenue                          | CUSIP: 39081JAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $496047.15    | 0.05%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRL PLAINS ENERGY PROJ NE G     | Central Plains Energy Project                                                    | CUSIP: 154871CE5<br>LEI: SVQOT7V5CPLIGNP5BE29 | Long             | DBT              | MUN               | US        |   1725000 | PA      | $1807911.26   | 0.17%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OREGON ST DEPT OF ADMIN SVCS L     | Oregon State Lottery                                                             | CUSIP: 68607V6M2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1358209.25   | 0.13%             | 2039-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY MUNI WTR FIN      | New York City Municipal Water Finance Authority                                  | CUSIP: 64972GK78<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010577.80   | 0.10%             | 2048-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CAMPBELL CNTY WY SOL WST FACS      | County of Campbell WY                                                            | CUSIP: 134340AB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1170000 | PA      | $1011647.05   | 0.10%             | 2039-07-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| MESA CNTY CO VLY SCH DIST #51G     | Mesa County Valley School District No 51 Grand Junction/CO                       | CUSIP: 590621LV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3760274.35   | 0.35%             | 2042-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| RENO-TAHOE NV ARPT AUTH ARPT R     | Reno-Tahoe Airport Authority                                                     | CUSIP: 759874CY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $536004.45    | 0.05%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH INFRASTRUCTURE AGY TELECO     | Utah Infrastructure Agency                                                       | CUSIP: 917467BK7<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $952988.40    | 0.09%             | 2036-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| STHRN CA PUBLIC PWR AUTH REVEN     | Southern California Public Power Authority                                       | CUSIP: 84247PKW0<br>LEI: 5493003B5TD5FWUKMD34 | Long             | DBT              | MUN               | US        |    725000 | PA      | $739688.21    | 0.07%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA ST HGR EDU LOAN AUTH REVE     | Iowa Higher Education Loan Authority                                             | CUSIP: 46247DAB3<br>LEI: 549300DWVTM3KRNR0M36 | Long             | DBT              | MUN               | US        |    360000 | PA      | $372828.96    | 0.04%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA     | Chicago O'Hare International Airport                                             | CUSIP: 1675935D0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1502244.30   | 0.14%             | 2048-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES MI WTR AUTH WTR SP     | Great Lakes Water Authority Water Supply System Revenue                          | CUSIP: 39081JBG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2525000 | PA      | $2511485.44   | 0.24%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GRAND FORKS ND HLTH CARE SYS R     | City of Grand Forks ND                                                           | CUSIP: 38546WDV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $410666.72    | 0.04%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH MUNI CTFS     | New Hampshire Business Finance Authority                                         | CUSIP: 63607WBD5<br>LEI: N/A                  | Long             | ABS-MBS          | MUN               | US        |   1226457 | PA      | $1157689.85   | 0.11%             | 2041-01-20      | Variable      | 4.09%                 | No            |                  2 | On Loan: No      |
| LOUISIANA ST LOCAL GOVT ENVRNM     | Louisiana Local Government Environmental Facilities & Community Development Auth | CUSIP: 54628CDX7<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $955594.10    | 0.09%             | 2032-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH MUNI CTFS     | New Hampshire Business Finance Authority                                         | CUSIP: 63607WAW4<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |   1490953 | PA      | $1361458.57   | 0.13%             | 2051-10-20      | Variable      | 4.16%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST HSG FIN AGY ST PER     | New York State Housing Finance Agency                                            | CUSIP: 649870NG3<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002434.10   | 0.09%             | 2054-06-15      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUBLIC SVC A     | South Carolina Public Service Authority                                          | CUSIP: 837151RP6<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100179.07    | 0.01%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HGR EDUCTNL FA     | Pennsylvania Higher Educational Facilities Authority                             | CUSIP: 70917SQR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003482.20   | 0.09%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EUCLID OH CITY SCH DIST            | Euclid City School District                                                      | CUSIP: 298047KG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002639.90   | 0.09%             | 2044-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HSG FIN AGY SF     | Pennsylvania Housing Finance Agency                                              | CUSIP: 70879QQA4<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |  15000000 | PA      | $14646132.00  | 1.38%             | 2051-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST HSG DEV AUTH MF HS     | Illinois Housing Development Authority                                           | CUSIP: 45203LFB4<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2003166.80   | 0.19%             | 2029-02-01      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH CO     | California Municipal Finance Authority                                           | CUSIP: 130493CC1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    125000 | PA      | $133129.74    | 0.01%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HUDSON WI SCH DIST                 | Hudson School District                                                           | CUSIP: 444197MC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $493317.50    | 0.05%             | 2027-03-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| UTAH CNTY UT HOSP REVENUE          | County of Utah UT                                                                | CUSIP: 917393BM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2070000 | PA      | $2026771.98   | 0.19%             | 2046-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE       | Illinois Finance Authority                                                       | CUSIP: 45203HY22<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   2290000 | PA      | $2292106.57   | 0.22%             | 2044-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL      | Black Belt Energy Gas District                                                   | CUSIP: 09182NCT5<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3221591.10   | 0.30%             | 2053-12-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH MF     | California Municipal Finance Authority                                           | CUSIP: 130483JB7<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4013391.20   | 0.38%             | 2059-08-01      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| DELAWARE ST HSG AUTH REVENUE       | Delaware State Housing Authority                                                 | CUSIP: 246395N60<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1092956.50   | 0.10%             | 2056-01-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| LITTLE ROCK AR SCH DIST            | Little Rock School District                                                      | CUSIP: 537428Z49<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $778321.50    | 0.07%             | 2036-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| DOUGLAS CNTY NE SCH DIST #1        | Omaha School District                                                            | CUSIP: 259291RL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1126352.10   | 0.11%             | 2035-12-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA     | Chicago O'Hare International Airport                                             | CUSIP: 1675937A4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1529544.90   | 0.14%             | 2044-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO INDL TOURIST EDUCT     | Puerto Rico Industrial Tourist Educational Medical & Envirml Ctl Facs Fing Auth  | CUSIP: 74527EFM5<br>LEI: 549300YJRISCG6HQ4512 | Long             | DBT              | MUN               | US        |    500000 | PA      | $527724.15    | 0.05%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| S WSTRN IL DEV AUTH REV            | Southwestern Illinois Development Authority                                      | CUSIP: 84552YTJ0<br>LEI: 549300B1KLLJ8NU5XK71 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2087586.40   | 0.20%             | 2044-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY           | Minnesota Housing Finance Agency                                                 | CUSIP: 60416UQP3<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1459896.36   | 0.14%             | 2055-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FARMINGTON NM POLL CONTROL REV     | City of Farmington NM                                                            | CUSIP: 311450FV7<br>LEI: 5493000GWMTI2L4AZA61 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2525151.90   | 0.24%             | 2033-04-01      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL      | New York City Transitional Finance Authority Future Tax Secured Revenue          | CUSIP: 64971XC97<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $944004.80    | 0.09%             | 2038-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY           | Minnesota Housing Finance Agency                                                 | CUSIP: 60416USS5<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1111314.90   | 0.10%             | 2056-01-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MAGNOLIA AR SALES & USE TAX        | City of Magnolia AR Sales & Use Tax Revenue                                      | CUSIP: 559560CF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2150000 | PA      | $2122057.10   | 0.20%             | 2055-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PUBLIC ENERGY AUTH     | Kentucky Public Energy Authority                                                 | CUSIP: 74440DFN9<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5278307.00   | 0.50%             | 2055-06-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HSG & ECON DEV AU     | Wisconsin Housing & Economic Development Authority Home Ownership Revenue        | CUSIP: 97689QUW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $447491.30    | 0.04%             | 2044-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH MUNI CTFS     | New Hampshire Business Finance Authority                                         | CUSIP: 63607WAU8<br>LEI: N/A                  | Long             | ABS-MBS          | MUN               | US        |   1092418 | PA      | $994567.56    | 0.09%             | 2039-08-20      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HLTH CARE FACS A     | Washington Health Care Facilities Authority                                      | CUSIP: 93978HZR9<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |    400000 | PA      | $366110.48    | 0.03%             | 2041-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MTGE CORP MF     | FHLMC Multifamily VRD Certificates                                               | CUSIP: 31350ADQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3087742 | PA      | $3079170.73   | 0.29%             | 2041-08-25      | Fixed         | 4.76%                 | No            |                  2 | On Loan: No      |
| MADISON MACOUPIN ETC CNTYS ILC     | Madison-Macoupin Etc Counties Community College District No 536/IL               | CUSIP: 557738NG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $327636.80    | 0.03%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES     | New York State Dormitory Authority                                               | CUSIP: 65000B7M4<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1467520.60   | 0.14%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TERRE HAUTE IN SANTN DIST          | Terre Haute Sanitary District                                                    | CUSIP: 881100ED9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1470000 | PA      | $1499245.21   | 0.14%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST HSG FIN AGY RSDL MTGE      | Ohio Housing Finance Agency                                                      | CUSIP: 67756UCK2<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1107120.80   | 0.10%             | 2056-03-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R     | Massachusetts Development Finance Agency                                         | CUSIP: 57585BGT9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2236227.40   | 0.21%             | 2055-05-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISVILLE & JEFFERSON CNTY KY     | Louisville/Jefferson County Metropolitan Government                              | CUSIP: 546749AT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $828933.50    | 0.08%             | 2033-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CORPUS CHRISTI TX UTILITY SYSR     | City of Corpus Christi TX Utility System Revenue                                 | CUSIP: 2202452F0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1049015.60   | 0.10%             | 2040-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WILL CNTY IL SCH DIST #114 MAN     | Will County School District No 114 Manhattan                                     | CUSIP: 968838JR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $480796.42    | 0.05%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-25

**Name of Applicant:** New York Life Investments Active ETF Trust

**Signature:** Adefolahan Oyefeso

**Name of Signer:** Adefolahan Oyefeso

**Title:** Director and Vice President, IndexIQ