# EDGAR Filing Document

**Accession Number:** 0000832808
**File Stem:** 0001752724-23-047107
**Filing Date:** 2023-2
**Character Count:** 306400
**Document Hash:** ea1b4815527fc29f34a179e88e14365c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-047107.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001752724-23-047107

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**PERIOD START**: 20230930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BERNSTEIN SANFORD C FUND INC
- **CENTRAL INDEX KEY:** 0000832808
- **IRS NUMBER:** 133464161
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05555
- **FILM NUMBER:** 23683879

**BUSINESS ADDRESS:**
- **STREET 1:** ALLIANCEBERNSTEIN LP
- **STREET 2:** 1345 AVENUE OF THE AMERICAS
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10105
- **BUSINESS PHONE:** 2129691000

**MAIL ADDRESS:**
- **STREET 1:** ALLIANCEBERNSTEIN LP
- **STREET 2:** 1345 AVENUE OF THE AMERICAS
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10153

## Series and Classes Contracts Data

### Tax-Aware Overlay B Portfolio (Series ID: S000027650)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000083500 | Class 1      | SBTOX           |
| C000083501 | Class 2      | SBTTX           |

## Nport-Ex

**Sanford C. Bernstein Fund, Inc.** 

**Schedule of Investments** 

**Tax-Aware Overlay B Portfolio** 

**December 31, 2022 (unaudited)** 

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** |
|  **MUNICIPAL OBLIGATIONS – 70.2%** | **MUNICIPAL OBLIGATIONS – 70.2%** | **MUNICIPAL OBLIGATIONS – 70.2%** |
|  **Long-Term Municipal Bonds – 70.2%** |  |  |
|  **Alabama – 0.3%** |  |  |
|  Black Belt Energy Gas District<br> (Goldman Sachs Group, Inc. (The))<br>Series 2021<br>4.00%, 10/01/2052 | $1000 | $987716 |
|  Infirmary Health System Special Care Facilities Financing Authority of Mobile<br> (Infirmary Health System Obligated Group)<br>Series 2021<br>4.00%, 02/01/2040 | 1000 | 934527 |
|  Sumter County Industrial Development Authority/AL<br> (Enviva, Inc.)<br>Series 2022<br>6.00%, 07/15/2052 | 1250 | 1134969 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3057212 |
|  **American Samoa – 0.0%** |  |  |
|  American Samoa Economic Development Authority<br> (Territory of American Samoa)<br>Series 2018<br>6.50%, 09/01/2028<sup>(a)</sup> | 400 | 430055 |
|  **Arizona – 0.8%** |  |  |
|  Arizona Industrial Development Authority<br> (Equitable School Revolving Fund LLC Obligated Group)<br>Series 2020<br>4.00%, 11/01/2037 | 1100 | 1041896 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/01/2038 | 600 | 563092 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/01/2039 | 750 | 696312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 11/01/2035 | 850 | 890862 |
|  Chandler Industrial Development Authority<br> (Intel Corp.)<br>5.00%, 09/01/2052 | 2000 | 2087148 |
|  City of Glendale AZ<br> (City of Glendale AZ COP)<br>Series 2021<br>2.062%, 07/01/2029 | 1000 | 817370 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.442%, 07/01/2032 | 2250 | 1733417 |
|  City of Tempe AZ<br> (City of Tempe AZ COP)<br>Series 2021<br>2.171%, 07/01/2033 | 1475 | 1098314 |
|  |  | 8928411 |
|  **Arkansas – 0.1%** |  |  |
|  City of Fayetteville AR Sales & Use Tax Revenue<br>Series 2022<br>2.875%, 11/01/2032 | 1000 | 950939 |

---

------

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** |
|  **California – 2.3%** |  |  |
|  California Community Housing Agency<br> (California Community Housing Agency Brio Apartments & Next on Lex Apartments)<br>Series 2021-A<br>4.00%, 08/01/2047<sup>(a)</sup> | $3385 | $2520468 |
|  California Housing Finance Agency |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1, Class A 3.50%, 11/20/2035 | 974 | 881325 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2, Class X 0.823%, 03/25/2035<sup>(b)</sup> | 1970 | 106680 |
|  California Housing Finance Agency<br>Series 2019-2, Class A<br>4.00%, 03/20/2033 | 2167 | 2091820 |
|  California Municipal Finance Authority<br> (Waste Management, Inc.)<br>Series 2019-A<br>2.40%, 10/01/2044 | 4710 | 4196022 |
|  California State University<br>Series 2021-B<br>2.374%, 11/01/2035 | 1000 | 739715 |
|  CSCDA Community Improvement Authority<br> (CSCDA Community Improvement Authority 777 Place-Pomona)<br>Series 2021<br>3.60%, 05/01/2047<sup>(a)</sup> | 2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1960023 |
|  CSCDA Community Improvement Authority<br> (CSCDA Community Improvement Authority Acacia on Santa Rosa Creek)<br>Series 2021<br>4.00%, 10/01/2046<sup>(a)</sup> | 1000 | 757302 |
|  CSCDA Community Improvement Authority<br> (CSCDA Community Improvement Authority Altana Apartments)<br>Series 2021<br>3.50%, 10/01/2046<sup>(a)</sup> | 2000 | 1449894 |
|  CSCDA Community Improvement Authority<br> (CSCDA Community Improvement Authority Millennium South Bay-Hawthorne)<br>Series 2021<br>3.375%, 07/01/2043<sup>(a)</sup> | 1000 | 782276 |
|  CSCDA Community Improvement Authority <br>(CSCDA Community Improvement Authority Theo Apartments)<br>Series 2021<br>3.50%, 05/01/2047<sup>(a)</sup> | 1700 | 1372133 |
|  CSCDA Community Improvement Authority <br>(CSCDA Community Improvement Authority Union South Bay)<br>Series 2021-A<br>3.10%, 07/01/2045<sup>(a)</sup> | 1000 | 749131 |
|  Sacramento County Water Financing Authority <br>(Sacramento County Water Agency) NATL<br>Series 2007-B<br>3.76% (LIBOR 3 Month + 0.57%), 06/01/2039<sup>(c)</sup> | 3675 | 3204479 |

---

------

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** |
|  San Francisco Intl Airport<br>Series 2019-H<br>5.00%, 05/01/2024 (Pre-refunded/ETM) | $3755 | $3849535 |
|  State of California<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2014<br>5.00%, 10/01/2029 | 50 | 52120 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015<br>5.00%, 03/01/2026 | 2085 | 2193289 |
|  |  | 26906212 |
|  **Colorado – 2.1%** |  |  |
|  Centerra Metropolitan District No. 1<br>Series 2017 5.00%, 12/01/2029<sup>(a)</sup> | 2375 | 2331004 |
|  Colorado Health Facilities Authority<br> (CommonSpirit Health)<br>Series 2019-A<br>5.00%, 08/01/2033 | 845 | 895494 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/01/2034 | 3000 | 3163152 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/01/2035 | 4100 | 4295662 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/01/2036 | 8975 | 9356425 |
|  Johnstown Plaza Metropolitan District<br>Series 2022<br>4.25%, 12/01/2046 | 488 | 383603 |
|  State of Colorado<br>Series 2022 6.00%, 12/15/2041 | 3000 | 3520204 |
|  Vauxmont Metropolitan District<br>AGM Series 2019<br>3.25%, 12/15/2050 | 177 | 145565 |
| &nbsp;&nbsp;&nbsp;&nbsp; AGM Series 2020<br>5.00%, 12/01/2024 | 115 | 119153 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/01/2027 | 105 | 114205 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/01/2033 | 110 | 121064 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/01/2050 | 100 | 102216 |
|  |  | 24547747 |
|  **Connecticut – 3.4%** |  |  |
|  City of Bridgeport CT<br>Series 2017-A<br>5.00%, 11/01/2026 (Pre-refunded/ETM) | 1650 | 1790414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 11/01/2027 | 1735 | 1892861 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 11/01/2029 | 1890 | 2057436 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 11/01/2030 | 2015 | 2196735 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 11/01/2031 | 1335 | 1456422 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-C<br>5.00%, 08/15/2025 | 1000 | 1051242 |
|  State of Connecticut<br>Series 2016-A<br>5.00%, 03/15/2023 | 24370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24462299 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/15/2024 | 3060 | 3138424 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-C<br>5.00%, 06/15/2027 | 1415 | 1549319 |
|  |  | 39595152 |
|  **District of Columbia – 0.2%** |  |  |
|  Metropolitan Washington Airports Authority Aviation Revenue<br>Series 2018-A<br>5.00%, 10/01/2030 | 1910 | 2041561 |

---

------

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** |
|  **Florida – 3.5%** |  |  |
|  Capital Trust Agency, Inc. <br>(Franklin Academy Obligated Group)<br>Series 2020<br>4.00%, 12/15/2024<sup>(a)</sup> | $385 | $381865 |
|  City of South Miami Health Facilities Authority, Inc. <br>(Baptist Health South Florida Obligated Group)<br>Series 2017<br>5.00%, 08/15/2027 | 3550 | 3815628 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/15/2028 | 2625 | 2838428 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/15/2029 | 2750 | 2966689 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/15/2030 | 2000 | 2152568 |
|  County of Osceola FL Transportation Revenue<br>Series 2020-A<br>Zero Coupon, 10/01/2030 | 100 | 68982 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 10/01/2032 | 100 | 62246 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 10/01/2034 | 100 | 55216 |
|  Florida Development Finance Corp.<br>Series 2022<br>2.90%, 12/01/2056 (Pre-refunded/ETM) | 4000 | 3988588 |
|  Florida Municipal Power Agency <br>(Florida Municipal Power Agency All-Requirements Power Supply Project Revenue)<br>Series 2021<br>1.425%, 10/01/2026 | 500 | 436311 |
|  Florida State Board of Education <br>(State of Florida)<br>Series 2017-F<br>5.00%, 06/01/2023 | 1310 | 1322012 |
|  Lakewood Ranch Stewardship District<br>AGM Series 2020<br>2.50%, 05/01/2033 | 1830 | 1563842 |
|  North Broward Hospital District<br>Series 2017-B<br>5.00%, 01/01/2027 | 7070 | 7454851 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/01/2031 | 3590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3770962 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/01/2032 | 2950 | 3090606 |
|  Palm Beach County Health Facilities Authority <br>(Federation CCRC Operations Corp. Obligated Group)<br>Series 2020<br>5.00%, 06/01/2055 | 200 | 175153 |
|  Polk County Industrial Development Authority <br>(Mineral Development LLC)<br>Series 2020<br>5.875%, 01/01/2033<sup>(a)</sup> | 1000 | 995147 |
|  St Lucie County School Board <br>(St. Lucie County School Board Sales Tax)<br>AGM Series 2015<br>5.00%, 10/01/2023 | 1565 | 1586159 |
|  State of Florida Department of Transportation Turnpike System Revenue<br>Series 2015-B<br>5.00%, 07/01/2024 | 3795 | 3916366 |
|  |  | 40641619 |

---

------

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** |
|  **Georgia – 1.8%** |  |  |
|  City of Atlanta GA Airport Passenger Facility Charge<br>Series 2019-F<br>5.00%, 07/01/2025 | $4000 | $4221586 |
|  City of Atlanta GA Department of Aviation<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-A<br>5.00%, 07/01/2029 | 640 | 727118 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-B<br>5.00%, 07/01/2029 | 600 | 681673 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-C<br>4.00%, 07/01/2039 | 1000 | 941547 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/01/2035 | 2350 | 2520742 |
|  Main Street Natural Gas, Inc.<br> (Royal Bank of Canada)<br>Series 2018-A<br>4.00%, 04/01/2048 | 6465 | 6462961 |
|  Municipal Electric Authority of Georgia<br>Series 2019<br>5.00%, 01/01/2028 | 180 | 193440 |
|  Private Colleges & Universities Authority<br> (Emory University)<br>Series 2020-B<br>4.00%, 09/01/2036 | 5000 | 5087947 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20837014 |
|  **Guam – 0.0%** |  |  |
|  Territory of Guam<br>Series 2019<br>5.00%, 11/15/2031 | 180 | 189460 |
|  **Hawaii – 1.3%** |  |  |
|  City & County of Honolulu HI<br>Series 2022-A<br>5.00%, 11/01/2029 | 1180 | 1350262 |
|  University of Hawaii<br>Series 2016<br>5.00%, 10/01/2023 | 6035 | 6127288 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/01/2026 | 7010 | 7578671 |
|  |  | 15056221 |
|  **Illinois – 7.3%** |  |  |
|  Chicago Board of Education<br>Series 2010<br>6.319%, 11/01/2029 | 1000 | 939314 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-B<br>5.00%, 12/01/2030 | 270 | 276686 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/01/2031 | 310 | 317193 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/01/2032 | 200 | 204145 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/01/2033 | 160 | 162812 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-B<br>4.00%, 12/01/2041 | 2000 | 1690301 |
|  Chicago O'Hare International Airport<br>Series 2015-B<br>5.00%, 01/01/2024 | 11425 | 11653446 |

---

------

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/01/2028 | $6690 | $6951720 |
| &nbsp;&nbsp;&nbsp;&nbsp; AGM Series 2020-E<br>4.00%, 01/01/2039 | 1275 | 1246086 |
|  Illinois Finance Authority<br> (Illinois Institute of Technology)<br>Series 2019<br>5.00%, 09/01/2023 | 100 | 100479 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/01/2026 | 100 | 102736 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/01/2027 | 100 | 103175 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/01/2029 | 100 | 103710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/01/2032 | 100 | 102702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/01/2033 | 200 | 204500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/01/2034 | 100 | 101756 |
|  Illinois Finance Authority<br> (Memorial Health Obligated Group)<br>Series 2019<br>5.00%, 04/01/2030 | 3020 | 3255141 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/01/2031 | 2450 | 2638767 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/01/2032 | 1725 | 1854005 |
|  Illinois Finance Authority<br> (OSF Healthcare System Obligated Group)<br>Series 2018-A<br>5.00%, 05/15/2032 | 20130 | 21537647 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/15/2033 | 6775 | 7232542 |
|  State of Illinois |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-A<br>5.00%, 12/01/2025 | 3810 | 3907174 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-D<br>5.00%, 11/01/2024 | 12010 | 12237776 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-A<br>5.00%, 11/01/2026 | 5740 | 5916743 |
|  State of Illinois Sales Tax Revenue<br>Series 2016-D<br>5.00%, 06/15/2023 | 1340 | 1349025 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84189581 |
|  **Indiana – 0.4%** |  |  |
|  City of Fort Wayne IN<br> (Do Good Foods Fort Wayne, LLC Obligated Group)<br>9.00%, 12/01/2044<sup>(a)</sup> | 850 | 835538 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.75%, 12/01/2029 | 115 | 113274 |
|  Indiana Finance Authority<br> (Indiana University Health, Inc. Obligated Group)<br>Series 2015<br>4.00%, 12/01/2040 | 3000 | 2975042 |
|  Indiana Finance Authority<br> (Ohio Valley Electric Corp.)<br>Series 2021-B<br>2.50%, 11/01/2030 | 330 | 281184 |
|  |  | 4205038 |
|  **Iowa – 0.1%** |  |  |
|  Iowa Finance Authority<br> (Iowa Fertilizer Co. LLC)<br>Series 2022<br>4.00%, 12/01/2050 | 1000 | 956489 |

---

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| | | |
|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** |
|  **Kansas – 0.1%** |  |  |
|  Kansas Development Finance Authority<br> (State of Kansas Department of Administration Lease)<br>Series 2021-K<br>1.149%, 05/01/2026 | $2000 | $1767806 |
|  **Kentucky – 2.7%** |  |  |
|  City of Ashland KY<br> (Ashland Hospital Corp. Obligated Group)<br>Series 2019<br>5.00%, 02/01/2026 | 225 | 234148 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/01/2027 | 240 | 252655 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/01/2030 | 155 | 167395 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/01/2031 | 195 | 206997 |
|  Kentucky Economic Development Finance Authority<br> (Owensboro Health, Inc. Obligated Group)<br>Series 2017-A<br>5.00%, 06/01/2026 | 4265 | 4485179 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 06/01/2031 | 6195 | 6487301 |
|  Kentucky Public Energy Authority<br> (BP PLC)<br>Series 2020-A<br>4.00%, 12/01/2050 | 6370 | 6305650 |
|  Kentucky Public Energy Authority<br> (Morgan Stanley) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-C<br>4.00%, 12/01/2049 | 8500 | 8421548 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-A<br>4.00%, 08/01/2052 | 5500 | 5326944 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31887817 |
|  **Louisiana – 0.8%** |  |  |
|  Louisiana Local Government Environmental Facilities & Community Development Auth<br> (St. James Place of Baton Rouge)<br>Series 2015-A<br>6.00%, 11/15/2030 | 1550 | 1552282 |
|  Parish of St. James LA<br> (NuStar Logistics LP)<br>Series 2020<br>5.85%, 08/01/2041<sup>(a)</sup> | 435 | 445150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 06/01/2038<sup>(a)</sup> | 585 | 621056 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 12/01/2040<sup>(a)</sup> | 500 | 530817 |
|  Parish of St. John the Baptist LA<br> (Marathon Oil Corp.)<br>Series 2019<br>2.00%, 06/01/2037 | 4885 | 4854833 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 06/01/2037 | 1570 | 1520824 |
|  |  | 9524962 |
|  **Massachusetts – 0.4%** |  |  |
|  Commonwealth of Massachusetts AGC<br>Series 2007-A<br>3.545% (LIBOR 3 Month + 0.57%), 05/01/2037<sup>(c)</sup> | 2775 | 2718452 |

---

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| | | |
|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** |
|  Commonwealth of Massachusetts<br> (Commonwealth of Massachusetts COVID-19 Recovery Assessment Revenue)<br>Series 2022-B<br>4.11%, 07/15/2031 | $2000 | $1930940 |
|  |  | 4649392 |
|  **Michigan – 3.0%** |  |  |
|  City of Detroit MI<br>Series 2018<br>5.00%, 04/01/2026 | 1200 | 1240808 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/01/2028 | 2475 | 2569089 |
|  Great Lakes Water Authority Water Supply System Revenue<br>Series 2018-A<br>5.00%, 07/01/2024 | 3000 | 3095496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/01/2025 | 2500 | 2627995 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/01/2027 | 1745 | 1896039 |
|  Michigan Finance Authority<br> (City of Detroit MI Income Tax)<br>Series 2015<br>4.50%, 10/01/2029 | 900 | 902159 |
|  Michigan Finance Authority<br> (Great Lakes Water Authority Sewage Disposal System Revenue)<br>AGM Series 2014<br>5.00%, 07/01/2024 | 10115 | 10407056 |
|  Michigan Finance Authority<br> (Michigan Finance Authority School Loan Revolving Fund)<br>Series 2019<br>2.366%, 09/01/2049 | 5000 | 4917303 |
|  Michigan Strategic Fund <br>(Michigan Strategic Fund - I 75 Improvement Project)<br>Series 2018<br>5.00%, 06/30/2033 | 1090 | 1122733 |
|  South Lyon Community Schools<br>Series 2016<br>5.00%, 05/01/2028 | 3640 | 3894558 |
|  University of Michigan<br>Series 2017-A<br>5.00%, 04/01/2023 (Pre-refunded/ETM) | 1250 | 1255743 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/01/2023 | 705 | 708446 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34637425 |
|  **Minnesota – 0.4%** |  |  |
|  Brainerd Independent School District No. 181<br>Series 2018-A<br>4.00%, 02/01/2041 | 2500 | 2532640 |
|  North St Paul-Maplewood-Oakdale Independent School District No. 622<br>Series 2019-A<br>3.00%, 02/01/2039 | 2000 | 1706643 |
|  |  | 4239283 |

---

------

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| | | |
|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** |
|  **Mississippi – 0.5%** |  |  |
|  Mississippi Development Bank <br>(Magnolia Regional Health Center)<br>Series 2021<br>4.00%, 10/01/2035<sup>(a)</sup> | $1100 | $979547 |
|  Mississippi Development Bank<br> (State of Mississippi Department of Corrections) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2010-C<br>5.00%, 08/01/2023 | 1720 | 1722184 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2010-D<br>5.00%, 08/01/2023 | 3695 | 3699691 |
|  |  | 6401422 |
|  **Missouri – 0.2%** |  |  |
|  City of Kansas City MO <br>(City of Kansas City MO Lease)<br>Series 2022<br>5.00%, 09/01/2038 | 1500 | 1621737 |
|  Howard Bend Levee District<br>XLCA Series 2005<br>5.75%, 03/01/2025 | 185 | 187593 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/01/2027 | 155 | 157875 |
|  |  | 1967205 |
|  **Nebraska – 1.5%** |  |  |
|  Central Plains Energy Project <br>(Goldman Sachs Group, Inc. (The))<br>Series 2018<br>5.00%, 03/01/2050 | 17000 | 17160167 |
|  **Nevada – 0.1%** |  |  |
|  Clark County School District<br>Series 2022-A<br>5.00%, 06/15/2038 | 1155 | 1275805 |
|  **New Hampshire – 0.7%** |  |  |
|  New Hampshire Business Finance Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1, Class A<br>4.125%, 01/20/2034 | 1719 | 1667173 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1, Class A<br>4.375%, 09/20/2036 | 4969 | 4798210 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-2<br>0.334%, 09/20/2036 | 3750 | 90328 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-2, Class A<br>4.00%, 10/20/2036 | 1994 | 1856405 |
|  |  | 8412116 |
|  **New Jersey – 5.0%** |  |  |
|  New Jersey Economic Development Authority <br>(New Jersey Economic Development Authority State Lease)<br>Series 2014-U<br>5.00%, 06/15/2023 | 1610 | 1621499 |
|  New Jersey Economic Development Authority <br>(United Airlines, Inc.)<br>Series 2012<br>5.25%, 09/15/2029 | 1185 | 1177298 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **Principal<br>Amount<br>(000)** | **U.S. $ Value** | **U.S. $ Value** |
|  New Jersey Health Care Facilities Financing Authority <br>(Inspira Health Obligated Group)<br>Series 2017-A<br>5.00%, 07/01/2027 | $| 1325 | $| 1414933 |
|  New Jersey Transportation Trust Fund Authority <br>(New Jersey Transportation Fed Hwy Grant)<br>Series 2018-A<br>5.00%, 06/15/2024 |  | 2750 |  | 2822837 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 06/15/2029 |  | 1630 |  | 1718499 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 06/15/2030 |  | 1675 |  | 1762770 |
|  New Jersey Transportation Trust Fund Authority<br> (New Jersey Transportation Trust Fund Authority State Lease) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-A<br>5.00%, 12/15/2029 |  | 160 |  | 173824 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/15/2030 |  | 5975 |  | 6472635 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019<br>5.00%, 06/15/2029 |  | 3075 |  | 3341375 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-B<br>5.00%, 06/15/2034 |  | 1570 |  | 1668177 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-BB1<br>5.00%, 06/15/2034 |  | 1250 |  | 1328167 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-A<br>5.00%, 06/15/2034 |  | 1865 |  | 2038982 |
|  New Jersey Turnpike Authority |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2014-C<br>5.00%, 01/01/2023 |  | 8955 |  | 8955000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-B<br>5.00%, 01/01/2030 |  | 1565 |  | 1725590 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-D<br>5.00%, 01/01/2028 |  | 4840 |  | 5202778 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-B<br>1.713%, 01/01/2029 |  | 1225 |  | 1018320 |
| &nbsp;&nbsp;&nbsp;&nbsp; AGM Series 2005-D3<br>5.25%, 01/01/2026 |  | 11070 |  | 11826773 |
|  Tobacco Settlement Financing Corp./NJ<br>Series 2018-A<br>5.00%, 06/01/2028 |  | 3450 |  | 3626828 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57896285 |
|  **New York – 6.6%** | **New York – 6.6%** | **New York – 6.6%** | **New York – 6.6%** | **New York – 6.6%** |
|  City of New York NY |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2013-H<br>5.00%, 08/01/2025 |  | 2510 |  | 2537767 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-A<br>5.00%, 08/01/2023 |  | 7220 |  | 7303180 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021<br>1.396%, 08/01/2027 |  | 3385 |  | 2893251 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-A<br>4.00%, 08/01/2035 |  | 2500 |  | 2544441 |
|  Metropolitan Transportation Authority |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-C<br>5.00%, 11/15/2030 |  | 4340 |  | 4492918 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-A 5.00%, 02/01/2023 |  | 2500 |  | 2501826 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **Principal<br>Amount<br>(000)** | **U.S. $ Value** | **U.S. $ Value** |
|  New York City Transitional Finance Authority Future Tax Secured Revenue<br>Series 2014-B<br>5.00%, 02/01/2027 | $| 5275 | $| 5385369 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 11/01/2027 |  | 3350 |  | 3437860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/01/2028 |  | 2000 |  | 2041633 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 11/01/2028 |  | 6000 |  | 6156573 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/01/2029 |  | 2500 |  | 2551775 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 11/01/2029 |  | 1155 |  | 1184988 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2014-C<br>5.00%, 11/01/2028 |  | 10665 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10943309 |
|  New York Liberty Development Corp.<br> (One Bryant Park LLC)<br>Series 2019<br>2.45%, 09/15/2069 |  | 855 |  | 765891 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 09/15/2069 |  | 2370 |  | 2120789 |
|  New York State Dormitory Authority<br> (State of New York Pers Income Tax)<br>Series 2014-C<br>5.00%, 03/15/2029 |  | 8340 |  | 8545795 |
|  New York Transportation Development Corp.<br> (Delta Air Lines, Inc.)<br>Series 2018<br>4.00%, 01/01/2036 |  | 265 |  | 243407 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020<br>4.00%, 10/01/2030 |  | 5000 |  | 4828293 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 10/01/2045 |  | 1355 |  | 1211294 |
|  New York Transportation Development Corp.<br> (JFK International Air Terminal LLC)<br>Series 2022<br>5.00%, 12/01/2039 |  | 1000 |  | 1019845 |
|  Triborough Bridge & Tunnel Authority<br> (Metropolitan Transportation Authority Payroll Mobility Tax Revenue)<br>Series 2021-A<br>2.411%, 05/15/2034 |  | 3000 |  | 2295298 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022<br>5.00%, 05/15/2030 |  | 1000 |  | 1152206 |
|  |  |  |  | 76157708 |
|  **North Carolina – 0.5%** | **North Carolina – 0.5%** | **North Carolina – 0.5%** | **North Carolina – 0.5%** | **North Carolina – 0.5%** |
|  State of North Carolina<br> (State of North Carolina Fed Hwy Grant)<br>Series 2015<br>5.00%, 03/01/2023 |  | 3500 |  | 3510585 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/01/2026 |  | 1850 |  | 1938520 |
|  |  |  |  | 5449105 |
|  **Ohio – 1.8%** | **Ohio – 1.8%** | **Ohio – 1.8%** | **Ohio – 1.8%** | **Ohio – 1.8%** |
|  American Municipal Power, Inc. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019<br>5.00%, 02/15/2035 |  | 5260 |  | 5807947 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/15/2036 |  | 3085 |  | 3354295 |
|  County of Cuyahoga OH<br> (MetroHealth System (The))<br>Series 2017<br>5.00%, 02/15/2025 |  | 1500 |  | 1548697 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/15/2028 |  | 4000 |  | 4196129 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **Principal<br>Amount<br>(000)** | **U.S. $ Value** | **U.S. $ Value** |
|  County of Montgomery OH<br> (Dayton Children's Hospital Obligated Group)<br>Series 2021<br>5.00%, 08/01/2034 | $| 1150 | $| 1283208 |
|  County of Washington OH<br> (Marietta Area Health Care, Inc. Obligated Group)<br>Series 2022<br>6.375%, 12/01/2037 |  | 1000 |  | 1000189 |
|  Ohio Higher Educational Facility Commission<br> (Ashtabula County Medical Center Obligated Group)<br>Series 2022<br>5.00%, 01/01/2034 |  | 360 |  | 385820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/01/2035 |  | 750 |  | 810929 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/01/2038 |  | 1110 |  | 1171085 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/01/2039 |  | 780 |  | 820741 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20379040 |
|  **Oklahoma – 0.4%** | **Oklahoma – 0.4%** | **Oklahoma – 0.4%** | **Oklahoma – 0.4%** | **Oklahoma – 0.4%** |
|  Comanche County Memorial Hospital<br>Series 2015<br>5.00%, 07/01/2026 |  | 1000 |  | 1003225 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/01/2028 |  | 1000 |  | 1001641 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/01/2029 |  | 1000 |  | 1001561 |
|  Oklahoma Development Finance Authority<br>Oklahoma Development Finance Authority<br>Series 2022<br>4.38%, 11/01/2045 |  | 1000 |  | 908120 |
|  Oklahoma Development Finance Authority<br> (OU Medicine Obligated Group)<br>Series 2022-A<br>5.50%, 08/15/2037 |  | 1000 |  | 939556 |
|  |  |  |  | 4854103 |
|  **Oregon – 0.2%** | **Oregon – 0.2%** | **Oregon – 0.2%** | **Oregon – 0.2%** | **Oregon – 0.2%** |
|  Port of Portland OR Airport Revenue<br>Series 2022-2<br>4.00%, 07/01/2040 |  | 3000 |  | 2800504 |
|  **Other – 0.3%** | **Other – 0.3%** | **Other – 0.3%** | **Other – 0.3%** | **Other – 0.3%** |
|  Federal Home Loan Mortgage Corp. Multifamily<br> VRD Certificates<br>Series 2019-M<br>2.65%, 06/15/2035<sup>(a)</sup> |  | 4800 |  | 3954348 |
|  **Pennsylvania – 5.8%** | **Pennsylvania – 5.8%** | **Pennsylvania – 5.8%** | **Pennsylvania – 5.8%** | **Pennsylvania – 5.8%** |
|  Allegheny County Airport Authority<br>Series 2021-A<br>4.00%, 01/01/2039 |  | 2000 |  | 1868180 |
|  Allegheny County Sanitary Authority<br>BAM Series 2013<br>5.00%, 12/01/2024 |  | 3105 |  | 3169237 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/01/2025 |  | 4365 |  | 4446814 |
|  Capital Region Water Water Revenue<br>Series 2018<br>5.00%, 07/15/2029 |  | 1500 |  | 1654219 |
|  City of Philadelphia PA<br>Series 2019-B<br>5.00%, 02/01/2032 |  | 2890 |  | 3161749 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **Principal<br>Amount<br>(000)** | **U.S. $ Value** | **U.S. $ Value** |
|  City of Philadelphia PA Water & Wastewater Revenue<br>Series 2020-A<br>5.00%, 11/01/2037 | $| 685 | $| 750282 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 11/01/2038 |  | 1655 |  | 1800049 |
|  Coatesville School District<br>AGM Series 2017<br>5.00%, 08/01/2023 |  | 1250 |  | 1263542 |
|  Commonwealth of Pennsylvania<br>Series 2017<br>5.00%, 01/01/2026 |  | 1000 |  | 1065670 |
|  Moon Industrial Development Authority<br> (Baptist Homes Society)<br>Series 2015<br>5.125%, 07/01/2025 |  | 1600 |  | 1551191 |
|  Pennsylvania Economic Development Financing Authority<br>5.50%, 06/30/2041 |  | 3300 |  | 3425083 |
|  Pennsylvania Economic Development Financing Authority<br> (UPMC Obligated Group)<br>Series 2022-C<br>4.36% (MUNIPSA + 0.70%),<br>11/15/2047<sup>(c)</sup> |  | 2000 |  | 1939409 |
|  Pennsylvania Turnpike Commission<br>Series 2017<br>5.00%, 06/01/2028 |  | 2905 |  | 3170262 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/01/2028 |  | 3065 |  | 3356969 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/01/2029 |  | 2500 |  | 2751351 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/01/2030 |  | 2540 |  | 2794678 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-B<br>5.00%, 06/01/2031 |  | 11050 |  | 11853985 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019<br>5.00%, 12/01/2024 |  | 4000 |  | 4159545 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/01/2025 |  | 3900 |  | 4154137 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-A<br>5.00%, 12/01/2031 |  | 2650 |  | 2930413 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/01/2032 |  | 1355 |  | 1489723 |
|  Philadelphia Authority for Industrial Development<br> (City of Philadelphia PA)<br>Series 2018<br>5.00%, 05/01/2032 |  | 3205 |  | 3458930 |
|  Philadelphia Authority for Industrial Development<br> (MaST Community Charter School III)<br>Series 2021<br>5.00%, 08/01/2030 |  | 880 |  | 909090 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67124508 |
|  **Puerto Rico – 1.0%** | **Puerto Rico – 1.0%** | **Puerto Rico – 1.0%** | **Puerto Rico – 1.0%** | **Puerto Rico – 1.0%** |
|  Commonwealth of Puerto Rico<br>Series 2021-A |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 07/01/2024 |  | 4 |  | 3730 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 07/01/2033 |  | 325 |  | 175948 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/01/2033 |  | 312 |  | 270556 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/01/2035 |  | 11 |  | 9106 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/01/2037 |  | 9 |  | 7597 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/01/2041 |  | 13 |  | 9886 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/01/2046 |  | 13 |  | 9844 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/01/2023 |  | 322 |  | 321711 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 07/01/2025 |  | 423 |  | 426599 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **Principal<br>Amount<br>(000)** | **U.S. $ Value** | **U.S. $ Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 07/01/2027 | $| 1053 | $| 1073157 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 07/01/2029 |  | 423 |  | 432891 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 07/01/2031 |  | 113 |  | 116522 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-C<br>0.00%, 11/01/2043 |  | 79 |  | 34702 |
|  HTA HRRB Custodial Trust<br>5.25%, 07/01/2036 |  | 1110 |  | 1103002 |
|  HTA TRRB Custodial Trust<br>5.25%, 07/01/2034 |  | 1005 |  | 999389 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/01/2041 |  | 905 |  | 898021 |
|  Puerto Rico Electric Power Authority<br>AGM Series 2007-V<br>5.25%, 07/01/2031 |  | 1010 |  | 1006577 |
|  Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Auth<br> (AES Puerto Rico LP)<br>Series 2000<br>6.625%, 06/01/2026 |  | 3315 |  | 3361027 |
|  Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue<br>Series 2018-A<br>Zero Coupon, 07/01/2024 |  | 1021 |  | 952408 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11212673 |
|  **South Carolina – 1.9%** | **South Carolina – 1.9%** | **South Carolina – 1.9%** | **South Carolina – 1.9%** | **South Carolina – 1.9%** |
|  Patriots Energy Group Financing Agency<br> (Royal Bank of Canada)<br>Series 2018-A<br>4.00%, 10/01/2048 |  | 7390 |  | 7383475 |
|  Renewable Water Resources<br>Series 2018-A<br>5.00%, 01/01/2025 |  | 7220 |  | 7550905 |
|  South Carolina Association of Governmental Organizations<br>Series 2022-B<br>4.00%, 03/01/2023 |  | 2000 |  | 2002569 |
|  South Carolina Public Service Authority<br>Series 2020-A<br>4.00%, 12/01/2042 |  | 2000 |  | 1824699 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-B<br>4.00%, 12/01/2038 |  | 3000 |  | 2839723 |
|  |  |  |  | 21601371 |
|  **South Dakota – 0.2%** | **South Dakota – 0.2%** | **South Dakota – 0.2%** | **South Dakota – 0.2%** | **South Dakota – 0.2%** |
|  South Dakota Health & Educational Facilities Authority<br> (Monument Health Obligated Group)<br>Series 2017<br>5.00%, 09/01/2028 |  | 2000 |  | 2144293 |
|  **Tennessee – 0.1%** | **Tennessee – 0.1%** | **Tennessee – 0.1%** | **Tennessee – 0.1%** | **Tennessee – 0.1%** |
|  Metropolitan Nashville Airport Authority (The)<br>Series 2019-B<br>5.00%, 07/01/2032 |  | 1205 |  | 1299484 |
|  **Texas – 3.6%** | **Texas – 3.6%** | **Texas – 3.6%** | **Texas – 3.6%** | **Texas – 3.6%** |
|  City of Corpus Christi TX Utility System Revenue<br>Series 2015<br>5.00%, 07/15/2024 |  | 1290 |  | 1330861 |

---

------

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C<br>5.00%, 07/15/2026 | $1030 | $1086182 |
|  City of Houston TX Airport System Revenue<br> (United Airlines, Inc.)<br>Series 2014<br>5.00%, 07/01/2029 | 375 | 375798 |
|  City of San Antonio TX Electric & Gas Systems Revenue<br>Series 2021-A<br>5.00%, 02/01/2037 | 1750 | 1922707 |
|  Dallas Fort Worth International Airport<br>Series 2020<br>5.00%, 11/01/2026 | 2500 | 2705169 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 11/01/2027 | 1225 | 1347452 |
|  Irving Hospital Authority<br> (Baylor Medical Center at Irving)<br>Series 2017-A<br>5.00%, 10/15/2028 | 1100 | 1157617 |
|  Lower Colorado River Authority<br> (LCRA Transmission Services Corp.)<br>Series 2022<br>5.00%, 05/15/2036 | 5255 | 5815612 |
|  Metropolitan Transit Authority of Harris County<br> (Metropolitan Transit Authority of Harris County Sales & Use Tax)<br>Series 2018<br>5.00%, 11/01/2029 | 1185 | 1329422 |
|  New Hope Cultural Education Facilities Finance Corp.<br> (Children's Health System of Texas Obligated Group)<br>Series 2017-A<br>5.00%, 08/15/2023 | 1160 | 1173240 |
|  Port Beaumont Navigation District<br> (Jefferson Railport Terminal II LLC)<br>Series 2020<br>3.625%, 01/01/2035<sup>(a)</sup> | 300 | 240805 |
|  Texas A&M University<br>Series 2013-B<br>5.00%, 05/15/2023 | 3950 | 3979527 |
|  Texas Private Activity Bond Surface Transportation Corp.<br> (Blueridge Transportation Group LLC)<br>Series 2016<br>5.00%, 12/31/2040 | 1880 | 1882802 |
|  Texas Water Development Board<br> (State Water Implementation Revenue Fund for Texas)<br>Series 2020<br>5.00%, 04/15/2028 | 1255 | 1402439 |
|  University of Houston<br>Series 2017-A<br>5.00%, 02/15/2023 | 13870 | 13900348 |
|  Via Metropolitan Transit (Via Metropolitan Transit Sales Tax)<br>Series 2017<br>5.00%, 07/15/2024 | 2580 | 2657417 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42307398 |

---

------

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** |
|  **Virginia – 0.4%** | **Virginia – 0.4%** | **Virginia – 0.4%** |
|  Greater Richmond Convention Center Authority<br> (Greater Richmond Convention Center Authority Hotel Occupancy Tax)<br>Series 2015<br>5.00%, 06/15/2023 | $2065 | $2082876 |
|  Virginia Small Business Financing Authority<br> (95 Express Lanes LLC)<br>Series 2022<br>5.00%, 07/01/2038 | 1120 | 1144485 |
|  Virginia Small Business Financing Authority<br> (Pure Salmon Virginia, LLC)<br>3.50%, 11/01/2052 | 1320 | 1315306 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4542667 |
|  **Washington – 4.8%** | **Washington – 4.8%** | **Washington – 4.8%** |
|  Franklin County School District No. 1 Pasco<br>Series 2015<br>5.00%, 12/01/2025 | 8615 | 8983123 |
|  Port of Seattle WA<br>Series 2018-A<br>5.00%, 05/01/2026 | 6000 | 6304509 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/01/2027 | 6500 | 6893705 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/01/2029 | 1875 | 1983163 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-B<br>5.00%, 05/01/2026 | 4925 | 5170202 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/01/2027 | 5340 | 5663444 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/01/2028 | 5775 | 6173807 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021<br>4.00%, 08/01/2040 | 1000 | 926033 |
|  Snohomish & Island Counties School District No. 41 Stanwood-Camano<br>Series 2018<br>5.00%, 12/15/2027 | 1000 | 1109142 |
|  Spokane County School District No. 81 Spokane<br>Series 2012<br>3.00%, 12/01/2031 | 2000 | 1959206 |
|  State of Washington<br>Series 2015-2<br>5.00%, 07/01/2024 | 3755 | 3880101 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-R<br>5.00%, 07/01/2023 | 3735 | 3773491 |
|  Washington State Convention Center Public Facilities District<br> (Washington State Convention Center Public Facilities District Hotel Occupancy Tax)<br>Series 2021<br>4.00%, 07/01/2031 | 1960 | 1792709 |
|  Washington State Housing Finance Commission<br>Series 2021-1, Class A<br>3.50%, 12/20/2035 | 977 | 860890 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55473525 |
|  **West Virginia – 0.2%** | **West Virginia – 0.2%** | **West Virginia – 0.2%** |
|  Tobacco Settlement Finance Authority/WV<br>Series 2020<br>4.875%, 06/01/2049 | 3070 | 2621379 |

---

------

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** |
|  **Wisconsin – 3.4%** | **Wisconsin – 3.4%** | **Wisconsin – 3.4%** |
|  State of Wisconsin<br>Series 2021-1<br>5.00%, 05/01/2028 | $3800 | $4257948 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/01/2030 | 2500 | 2891309 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2<br>5.00%, 05/01/2030 | 3390 | 3920615 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/01/2032 | 1000 | 1156820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/01/2033 | 1400 | 1616179 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/01/2035 | 750 | 850873 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/01/2036 | 1210 | 1363532 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/01/2037 | 1300 | 1454243 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/01/2038 | 1450 | 1616256 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/01/2039 | 1500 | 1665064 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/01/2040 | 1500 | 1657914 |
|  UMA Education, Inc.<br>Series 2019<br>5.00%, 10/01/2023<sup>(a)</sup> | 195 | 195577 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/01/2025<sup>(a)</sup> | 730 | 734587 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/01/2026<sup>(a)</sup> | 770 | 774375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/01/2027<sup>(a)</sup> | 805 | 808647 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/01/2028<sup>(a)</sup> | 440 | 441054 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/01/2029<sup>(a)</sup> | 200 | 199871 |
|  Wausau School District<br>Series 2022<br>5.00%, 03/01/2031 | 2180 | 2461007 |
|  Wisconsin Public Finance Authority<br>Series 2022<br>5.50%, 02/01/2042<sup>(a)</sup> | 1400 | 1291053 |
|  Wisconsin Public Finance Authority<br> (Celanese US Holdings LLC)<br>Series 2016-A<br>5.00%, 01/01/2024 | 3245 | 3248088 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-B<br>5.00%, 12/01/2025 | 2510 | 2515940 |
|  Wisconsin Public Finance Authority<br> (Queens University of Charlotte)<br>Series 2022<br>5.25%, 03/01/2042 | 1000 | 1005643 |
|  Wisconsin Public Finance Authority<br> (Samaritan Housing Foundation Obligated Group)<br>Series 2021-B<br>2.25%, 06/01/2027<sup>(a)</sup> | 1000 | 892745 |
|  Wisconsin Public Finance Authority<br> (Southeastern Regional Medical Center Obligated Group)<br>Series 2021<br>4.00%, 02/01/2038 | 1000 | 925434 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 02/01/2040 | 1000 | 908981 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** | **U.S. $ Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022<br>5.00%, 02/01/2032 | $1000 | $| 1067545 |
|  |  |  | 39921300 |
|  Total Municipal Obligations <br>(cost $845,653,345) | Total Municipal Obligations <br>(cost $845,653,345) |  | 814195802 |
|  | **Shares** |  |  |
|  **INVESTMENT COMPANIES – 25.7%** | **INVESTMENT COMPANIES – 25.7%** | **INVESTMENT COMPANIES – 25.7%** | **INVESTMENT COMPANIES – 25.7%** |
|  **Funds and Investment Trusts – 25.7%**<sup>(d)</sup> | **Funds and Investment Trusts – 25.7%**<sup>(d)</sup> | **Funds and Investment Trusts – 25.7%**<sup>(d)</sup> | **Funds and Investment Trusts – 25.7%**<sup>(d)</sup> |
|  iShares Core MSCI EAFE ETF | 1670856 |  | 102991564 |
|  iShares Core MSCI Emerging Markets ETF | 950834 |  | 44403948 |
|  SPDR S&P 500 ETF Trust | 357842 |  | 136849516 |
|  Vanguard Mid-Cap ETF | 68109 |  | 13881295 |
|  Total Investment Companies <br>(cost $243,901,148) |  |  | 298126323 |
|  | **Principal<br>Amount<br>(000)** |  |  |
|  **CORPORATES - INVESTMENT GRADE – 0.9%** | **CORPORATES - INVESTMENT GRADE – 0.9%** | **CORPORATES - INVESTMENT GRADE – 0.9%** | **CORPORATES - INVESTMENT GRADE – 0.9%** |
|  **Industrial – 0.9%** | **Industrial – 0.9%** | **Industrial – 0.9%** | **Industrial – 0.9%** |
|  **Capital Goods – 0.2%** | **Capital Goods – 0.2%** | **Capital Goods – 0.2%** | **Capital Goods – 0.2%** |
|  Caterpillar Financial Services Corp.<br>4.428% (SOFR + 0.27%), 09/13/2024<sup>(c)</sup> | $1800 |  | 1787778 |
|  John Deere Capital Corp.<br>3.692% (SOFR + 0.12%), 07/10/2023<sup>(c)</sup> | 1000 |  | 997740 |
|  |  |  | 2785518 |
|  **Consumer Cyclical - Automotive – 0.2%** | **Consumer Cyclical - Automotive – 0.2%** | **Consumer Cyclical - Automotive – 0.2%** | **Consumer Cyclical - Automotive – 0.2%** |
|  General Motors Financial Co., Inc.<br>4.938% (SOFR + 1.30%), 04/07/2025<sup>(c)</sup> | 2000 |  | 1948720 |
|  **Consumer Non-Cyclical – 0.3%** | **Consumer Non-Cyclical – 0.3%** | **Consumer Non-Cyclical – 0.3%** | **Consumer Non-Cyclical – 0.3%** |
|  Baylor Scott & White Holdings<br>Series 2021<br>0.827%, 11/15/2025 | 1075 |  | 951999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.777%, 11/15/2030 | 1000 |  | 781310 |
|  Ochsner LSU Health System of North Louisiana<br>Series 2021<br>2.51%, 05/15/2031 | 2000 |  | 1445180 |
|  |  |  | 3178489 |
|  **Services – 0.2%** | **Services – 0.2%** | **Services – 0.2%** | **Services – 0.2%** |
|  Novant Health, Inc.<br>2.637%, 11/01/2036 | 3525 |  | 2603283 |
|  Total Corporates - Investment Grade <br>(cost $12,399,270) | Total Corporates - Investment Grade <br>(cost $12,399,270) |  | 10516010 |
|  **GOVERNMENTS - TREASURIES – 0.8%** | **GOVERNMENTS - TREASURIES – 0.8%** | **GOVERNMENTS - TREASURIES – 0.8%** | **GOVERNMENTS - TREASURIES – 0.8%** |
|  **United States – 0.8%** | **United States – 0.8%** | **United States – 0.8%** | **United States – 0.8%** |
|  U.S. Treasury Notes<br>2.125%, 11/30/2023<sup>(e)</sup> | 1698 |  | 1658469 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 02/15/2029<sup>(e)</sup> | 7796 |  | 7223481 |
|  Total Governments - Treasuries <br>(cost $9,577,727) |  |  | 8881950 |

---

------

---

| | | |
|:---|:---|:---|
| | **Notional<br>Amount** | **U.S. $ Value** |
|  **OPTIONS PURCHASED - PUTS – 0.7%** | **OPTIONS PURCHASED - PUTS – 0.7%** | **OPTIONS PURCHASED - PUTS – 0.7%** |
|  **Options on Equity Indices – 0.7%** | **Options on Equity Indices – 0.7%** | **Options on Equity Indices – 0.7%** |
|  Euro STOXX 50 Index <br>Expiration: Nov 2023; Contracts: 8,070; <br>Exercise Price: EUR 3,000.00; <br>Counterparty: UBS AG <sup>(f)</sup> | 24210000 | $748536 |
|  FTSE 100 Index <br>Expiration: Dec 2023; Contracts: 1,640; <br>Exercise Price: GBP 6,200.00; <br>Counterparty: UBS AG <sup>(f)</sup> | 10168000 | 281938 |
|  Nikkei 225 Index <br>Expiration: Dec 2023; Contracts: 106,000;<br>Exercise Price: JPY 21,750.00; <br>Counterparty: UBS AG <sup>(f)</sup> | 2305500000 | 639210 |
|  S&P 500 Index <br>Expiration: Nov 2023; Contracts: 61,000;<br>Exercise Price: USD 3,200.00; <br>Counterparty: UBS AG <sup>(f)</sup> | 195200000 | 6617039 |
| &nbsp;&nbsp;&nbsp;&nbsp; (premiums paid $12,901,933) |  | 8286723 |
|  | **Principal<br>Amount<br>(000)** |  |
|  **CORPORATES - NON-INVESTMENT GRADE – 0.4%** | **CORPORATES - NON-INVESTMENT GRADE – 0.4%** | **CORPORATES - NON-INVESTMENT GRADE – 0.4%** |
|  **Industrial – 0.4%** | **Industrial – 0.4%** | **Industrial – 0.4%** |
|  **Communications - Media – 0.1%** | **Communications - Media – 0.1%** | **Communications - Media – 0.1%** |
|  CCO Holdings LLC/CCO Holdings Capital Corp.<br>4.25%, 01/15/2034<sup>(a)</sup> | $1546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1143236 |
|  **Consumer Non-Cyclical – 0.1%** | **Consumer Non-Cyclical – 0.1%** | **Consumer Non-Cyclical – 0.1%** |
|  Medline Borrower LP<br>3.875%, 04/01/2029<sup>(a)</sup> | 1150 | 926854 |
|  **Transportation - Airlines – 0.2%** | **Transportation - Airlines – 0.2%** | **Transportation - Airlines – 0.2%** |
|  American Airlines, Inc./AAdvantage Loyalty IP Ltd.<br>5.50%, 04/20/2026<sup>(a)</sup> | 700 | 673162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 04/20/2029<sup>(a)</sup> | 620 | 567213 |
|  United Airlines, Inc.<br>4.375%, 04/15/2026<sup>(a)</sup> | 1000 | 931370 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 04/15/2029<sup>(a)</sup> | 500 | 436355 |
|  |  | 2608100 |
|  Total Corporates - Non-Investment Grade <br>(cost $5,515,632) | Total Corporates - Non-Investment Grade <br>(cost $5,515,632) | 4678190 |

---

------

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** |
|  **COMMERCIAL MORTGAGE-BACKED SECURITIES – 0.3%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES – 0.3%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES – 0.3%** |
|  **Agency CMBS – 0.3%** | **Agency CMBS – 0.3%** | **Agency CMBS – 0.3%** |
|  California Housing Finance Agency<br>Series 2021-2, Class A<br>3.75%, 03/25/2035 | $2955 | $2895869 |
|  Federal Home Loan Mortgage Corp.<br>Series 2021-ML10, Class ACA<br>2.046%, 06/25/2038 | 984 | 735857 |
|  Total Commercial Mortgage-Backed Securities <br>(cost $4,493,005) | Total Commercial Mortgage-Backed Securities <br>(cost $4,493,005) | 3631726 |
|  **COLLATERALIZED MORTGAGE OBLIGATIONS – 0.1%** | **COLLATERALIZED MORTGAGE OBLIGATIONS – 0.1%** | **COLLATERALIZED MORTGAGE OBLIGATIONS – 0.1%** |
|  **Risk Share Floating Rate – 0.1%** | **Risk Share Floating Rate – 0.1%** | **Risk Share Floating Rate – 0.1%** |
|  Bellemeade Re Ltd.<br>Series 2018-1A, Class M2<br>7.289% (LIBOR 1 Month + 2.90%),<br>04/25/2028<sup>(a) (c)</sup> | 105 | 104597 |
|  Connecticut Avenue Securities Trust<br>Series 2020-SBT1, Class 2M2<br>8.039% (LIBOR 1 Month + 3.65%),<br>02/25/2040<sup>(a) (c)</sup> | 250 | 251340 |
|  Federal Home Loan Mortgage Corp. Structured<br> Agency Credit Risk Debt Notes<br>Series 2013-DN2, Class M2<br>8.639% (LIBOR 1 Month + 4.25%),<br>11/25/2023<sup>(c)</sup> | 87 | 88451 |
|  Federal National Mortgage Association Connecticut Avenue Securities<br>Series 2016-C01, Class 1M2<br>11.139% (LIBOR 1 Month + 6.75%),<br>08/25/2028<sup>(c)</sup> | 102 | 106904 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C02, Class 1M2<br>10.389% (LIBOR 1 Month + 6.00%),<br>09/25/2028<sup>(c)</sup> | 50 | 51829 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2014-C03, Class 2M2<br>7.289% (LIBOR 1 Month + 2.90%),<br>07/25/2024<sup>(c)</sup> | 58 | 58302 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C03, Class 1M2<br>9.389% (LIBOR 1 Month + 5.00%),<br>07/25/2025<sup>(c)</sup> | 34 | 34480 |
|  Total Collateralized Mortgage Obligations <br>(cost $593,012) | Total Collateralized Mortgage Obligations <br>(cost $593,012) | 695903 |
|  | **Shares** |  |
|  **SHORT-TERM INVESTMENTS – 0.0%** | **SHORT-TERM INVESTMENTS – 0.0%** | **SHORT-TERM INVESTMENTS – 0.0%** |
|  **Investment Companies – 0.0%** | **Investment Companies – 0.0%** | **Investment Companies – 0.0%** |
|  AB Fixed Income Shares, Inc. - Government Money<br>Market Portfolio - Class AB, 4.12%<sup>(d) (g) (h)</sup> <br>(cost $233,787) | 233787 | 233787 |
|  **Total Investments – 99.1%** <br>(cost $1,130,775,854)<sup>(i)</sup> |  | 1149246414 |
|  Other assets less liabilities – 0.9% |  | 10093080 |
|  **Net Assets – 100.0%** |  | $**1159339494** |

---

------

**FUTURES** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Number<br>of<br>Contracts** | **Expiration<br>Month** | **Current<br>Notional** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation)** |
| **Purchased Contracts** | **Purchased Contracts** | **Purchased Contracts** | **Purchased Contracts** | **Purchased Contracts** |
| E-Mini Russell 2000 Futures | 122 | March 2023 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10802490 | $(402572) |
| Euro STOXX 50 Index Futures | 116 | March 2023 | 4699916 | (184453) |
| FTSE 100 Index Futures | 68 | March 2023 | 6137695 | (27011) |
| Hang Seng Index Futures | 10 | January 2023 | 1275711 | 12519 |
| MSCI Emerging Markets Futures | 454 | March 2023 | 21778380 | (403763) |
| Nikkei 225 (OSE) Futures | 21 | March 2023 | 4173118 | (211706) |
| OMXS 30 Index Futures | 200 | January 2023 | 3913808 | (102424) |
| S&P 500 E-Mini Futures | 219 | March 2023 | 42277950 | (1047330) |
| U.S. T-Note 2 Yr (CBT) Futures | 83 | March 2023 | 17021484 | 21538 |
| U.S. T-Note 10 Yr (CBT) Futures | 187 | March 2023 | 20999516 | (125305) |
| U.S. Ultra Bond (CBT) Futures | 48 | March 2023 | 6447000 | (135819) |
| **Sold Contracts** | **Sold Contracts** | **Sold Contracts** | **Sold Contracts** | **Sold Contracts** |
| Euro STOXX 50 Index Futures | 133 | March 2023 | 5388696 | 295082 |
| MSCI Singapore IX ETS Futures | 224 | January 2023 | 4859131 | 45544 |
| S&P Mid 400 E-Mini Futures | 25 | March 2023 | 6106500 | 109884 |
| S&P 500 E-Mini Futures | 91 | March 2023 | 17567550 | 412296 |
| S&P/TSX 60 Index Futures | 50 | March 2023 | 8640325 | 261207 |
| SPI 200 Futures | 77 | March 2023 | 9163971 | 174066 |
| TOPIX Index Futures | 57 | March 2023 | 8215140 | 16017 |
|  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1292230) |

---

**FORWARD CURRENCY EXCHANGE CONTRACTS** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Contracts to<br>Deliver<br>(000)** | **Contracts to<br>Deliver<br>(000)** | **In Exchange<br>For<br>(000)** | **In Exchange<br>For<br>(000)** | **Settlement<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation)** |
| Bank of America, NA | GBP | 3662 | USD | 4439 | 01/18/2023 | $10198 |
| Bank of America, NA | GBP | 22255 | USD | 26504 | 01/18/2023 | (411022) |
| Bank of America, NA | USD | 4976 | AUD | 7255 | 01/19/2023 | (33136) |
| BNP Paribas SA | USD | 6144 | AUD | 9104 | 01/19/2023 | 57814 |
| BNP Paribas SA | USD | 6669 | JPY | 896705 | 02/09/2023 | 194647 |
| Brown Brothers Harriman & Co. | CAD | 2076 | USD | 1527 | 01/19/2023 | (6681) |
| Citibank, NA | CAD | 14286 | USD | 10546 | 01/19/2023 | (5880) |
| Citibank, NA | USD | 17022 | AUD | 26827 | 01/19/2023 | 1254763 |
| Citibank, NA | USD | 4207 | CAD | 5592 | 01/19/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(77095) |
| Citibank, NA | USD | 2357 | NOK | 23299 | 02/03/2023 | 24394 |
| Citibank, NA | USD | 8863 | JPY | 1223682 | 02/09/2023 | 503812 |
| Citibank, NA | USD | 6591 | EUR | 6140 | 02/27/2023 | 6224 |
| Deutsche Bank AG | USD | 33229 | CAD | 44942 | 01/19/2023 | (34244) |
| Goldman Sachs Bank USA | NZD | 5614 | USD | 3493 | 02/02/2023 | (72443) |
| HSBC Bank USA | GBP | 1840 | USD | 2211 | 01/18/2023 | (14282) |
| HSBC Bank USA | USD | 10546 | GBP | 8492 | 01/18/2023 | (276493) |

---

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Contracts to<br>Deliver<br>(000)** | **Contracts to<br>Deliver<br>(000)** | **In Exchange<br>For<br>(000)** | **In Exchange<br>For<br>(000)** | **Settlement<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation)** |
| HSBC Bank USA | AUD | 15476 | USD | 10302 | 01/19/2023 | $(241344) |
| HSBC Bank USA | CAD | 3679 | USD | 2697 | 01/19/2023 | (20100) |
| HSBC Bank USA | NZD | 2391 | USD | 1543 | 02/02/2023 | 24157 |
| HSBC Bank USA | SEK | 38601 | USD | 3674 | 02/03/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31451) |
| HSBC Bank USA | JPY | 306799 | USD | 2340 | 02/09/2023 | (8784) |
| HSBC Bank USA | EUR | 11444 | USD | 12080 | 02/27/2023 | (215322) |
| HSBC Bank USA | USD | 3218 | CHF | 2950 | 03/01/2023 | (8256) |
| JPMorgan Chase Bank, NA | USD | 2068 | GBP | 1737 | 01/18/2023 | 32465 |
| JPMorgan Chase Bank, NA | AUD | 2499 | USD | 1610 | 01/19/2023 | (92893) |
| JPMorgan Chase Bank, NA | CAD | 2359 | USD | 1745 | 01/19/2023 | 2928 |
| JPMorgan Chase Bank, NA | NZD | 2346 | USD | 1485 | 02/02/2023 | (5439) |
| JPMorgan Chase Bank, NA | NOK | 23299 | USD | 2326 | 02/03/2023 | (55160) |
| Morgan Stanley & Co. LLC | USD | 11187 | CAD | 15191 | 01/19/2023 | 32538 |
| Morgan Stanley & Co. LLC | USD | 5828 | NZD | 9449 | 02/02/2023 | 173353 |
| Morgan Stanley & Co. LLC | SEK | 31604 | USD | 3013 | 02/03/2023 | (20392) |
| Morgan Stanley & Co. LLC | JPY | 375267 | USD | 2757 | 02/09/2023 | (115218) |
| Morgan Stanley & Co. LLC | EUR | 6815 | USD | 7280 | 02/27/2023 | (41308) |
| Morgan Stanley & Co. LLC | CHF | 21547 | USD | 23201 | 03/01/2023 | (243843) |
| State Street Bank & Trust Co. | NOK | 1368 | USD | 137 | 02/03/2023 | (2699) |
|  |  |  |  |  |  | $283808 |

---

**CENTRALLY CLEARED INFLATION (CPI) SWAPS** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | **Rate Type** | **Rate Type** | | | | |
| **Notional<br>Amount<br>(000)** | **Notional<br>Amount<br>(000)** | <br>**Termination<br>Date** | **Payments<br>made<br>by the<br>Fund** | **Payments<br>received<br>by the<br>Fund** | <br>**Payment<br>Frequency**<br> **Paid/<br>Received** |<br>**Market<br>Value** |<br>**Upfront<br>Premiums<br>Paid/<br>(Received)** |<br>**Unrealized<br>Appreciation<br>(Depreciation)** |
| USD | 4710 | 01/15/2025 | 2.565% | CPI# | Maturity | $411721 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $411721 |
| USD | 2355 | 01/15/2025 | 2.585% | CPI# | Maturity | 204002 |  | 204002 |
| USD | 2355 | 01/15/2025 | 2.613% | CPI# | Maturity | 201444 |  | 201444 |
| USD | 11470 | 01/15/2026 | CPI# | 3.720% | Maturity | (325352) |  | (325352) |
| USD | 7300 | 01/15/2027 | CPI# | 3.320% | Maturity | (292640) |  | (292640) |
| USD | 7200 | 01/15/2027 | CPI# | 3.466% | Maturity | (224774) | (7919) | (216855) |
| USD | 20920 | 01/15/2028 | 1.230% | CPI# | Maturity | 3618281 |  | 3618281 |
| USD | 16190 | 01/15/2028 | 0.735% | CPI# | Maturity | 3369656 |  | 3369656 |
| USD | 30110 | 01/15/2029 | CPI# | 3.290% | Maturity | (801610) |  | (801610) |
| USD | 5860 | 01/15/2029 | CPI# | 3.735% | Maturity | 57280 |  | 57280 |
| USD | 5125 | 01/15/2030 | 1.572% | CPI# | Maturity | 838136 |  | 838136 |
| USD | 5125 | 01/15/2030 | 1.587% | CPI# | Maturity | 831256 |  | 831256 |
| USD | 1130 | 01/15/2030 | 1.714% | CPI# | Maturity | 170358 |  | 170358 |
| USD | 1130 | 01/15/2030 | 1.731% | CPI# | Maturity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168617 |  | 168617 |
| USD | 4400 | 01/15/2031 | 2.782% | CPI# | Maturity | 270803 |  | 270803 |
| USD | 4150 | 01/15/2031 | 2.680% | CPI# | Maturity | 295953 |  | 295953 |
| USD | 3500 | 01/15/2031 | 2.989% | CPI# | Maturity | 145257 |  | 145257 |
| USD | 3800 | 04/15/2032 | CPI# | 2.909% | Maturity | (157501) |  | (157501) |
| USD | 3350 | 04/15/2032 | CPI# | 2.748% | Maturity | (195343) |  | (195343) |
| USD | 2000 | 04/15/2032 | CPI# | 2.722% | Maturity | (122124) |  | (122124) |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8463420 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7919) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8471339 |

---

*#* *Variable interest rate based on the rate of inflation as determined by the Consumer Price Index (CPI).* 

**CENTRALLY CLEARED INTEREST RATE SWAPS** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | **Rate Type** | **Rate Type** | | | | |
| **Notional<br>Amount<br>(000)** | **Notional<br>Amount<br>(000)** | <br>**Termination<br>Date** | **Payments<br>made<br>by the<br>Fund** | **Payments<br>received<br>by the<br>Fund** | <br>**Payment<br>Frequency**<br> **Paid/<br>Received** |<br>**Market<br>Value** |<br>**Upfront<br>Premiums<br>Paid/<br>(Received)** |<br>**Unrealized<br>Appreciation<br>(Depreciation)** |
| USD | 10850 | 04/15/2032 | 2.777% | 1 Day SOFR | Annual | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654788 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654788 |

---

------

**CREDIT DEFAULT SWAPS** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Swap Counterparty & <br>Referenced Obligation** | **Fixed<br>Rate<br>(Pay)<br>Receive** | **Payment<br>Frequency** | **Implied<br>Credit<br>Spread at<br>December 31,**<br> **2022** | **Notional<br>Amount<br>(000)** | **Notional<br>Amount<br>(000)** | **Market<br>Value** | **Upfront<br>Premiums<br>Paid/<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
| **Sale Contracts** | **Sale Contracts** | **Sale Contracts** | **Sale Contracts** | **Sale Contracts** | **Sale Contracts** | **Sale Contracts** | **Sale Contracts** | **Sale Contracts** |
| Citigroup Global Markets, Inc. | Citigroup Global Markets, Inc. | Citigroup Global Markets, Inc. | Citigroup Global Markets, Inc. | Citigroup Global Markets, Inc. | Citigroup Global Markets, Inc. | Citigroup Global Markets, Inc. | Citigroup Global Markets, Inc. | Citigroup Global Markets, Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp; CDX-CMBX.NA.BBB- Series 6, 05/11/2063\* | 3.00% | Monthly | &nbsp;&nbsp;&nbsp;&nbsp;7.50% | USD | 61 | $(15034) | $(5705) | $(9329) |
| &nbsp;&nbsp;&nbsp;&nbsp; CDX-CMBX.NA.BBB- Series 6, 05/11/2063\* | 3.00 | Monthly | 7.50 | USD | 852 | (208302) | (103828) | (104474) |
| Credit Suisse International | Credit Suisse International | Credit Suisse International | Credit Suisse International | Credit Suisse International | Credit Suisse International | Credit Suisse International | Credit Suisse International | Credit Suisse International |
| &nbsp;&nbsp;&nbsp;&nbsp; CDX-CMBX.NA.BBB- Series 6, 05/11/2063\* | 3.00 | Monthly | 7.50 | USD | 1 | (155) | (74) | (81) |
| &nbsp;&nbsp;&nbsp;&nbsp; CDX-CMBX.NA.BBB- Series 6, 05/11/2063\* | 3.00 | Monthly | 7.50 | USD | 34 | (8215) | (3146) | (5069) |
| &nbsp;&nbsp;&nbsp;&nbsp; CDX-CMBX.NA.BBB- Series 6, 05/11/2063\* | 3.00 | Monthly | 7.50 | USD | 419 | (102601) | (39342) | (63259) |
| &nbsp;&nbsp;&nbsp;&nbsp; CDX-CMBX.NA.BBB- Series 6, 05/11/2063\* | 3.00 | Monthly | 7.50 | USD | 630 | (154213) | (57614) | (96599) |
| Goldman Sachs International | Goldman Sachs International | Goldman Sachs International | Goldman Sachs International | Goldman Sachs International | Goldman Sachs International | Goldman Sachs International | Goldman Sachs International | Goldman Sachs International |
| &nbsp;&nbsp;&nbsp;&nbsp; CDX-CMBX.NA.BBB- Series 6, 05/11/2063\* | 3.00 | Monthly | 7.50 | USD | 547 | (133754) | (48503) | (85251) |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(622274) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(258212) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(364062) |

---

*\** *Termination date* 

**INFLATION (CPI) SWAPS** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | **Rate Type** | **Rate Type** | | | | |
| <br>**Swap Counterparty** | **Notional<br>Amount<br>(000)** | **Notional<br>Amount<br>(000)** |<br>**Termination<br>Date** | **Payments<br>made<br>by the<br>Fund** | **Payments<br>received<br>by the<br>Fund** |<br>**Payment<br>Frequency<br>Paid/<br>Received** |<br>**Market<br>Value** |<br>**Upfront<br>Premiums<br>Paid/<br>(Received)** |<br>**Unrealized<br>Appreciation<br>(Depreciation)** |
| Barclays Bank PLC | USD | 12000 | 10/23/2026 | 2.310% | CPI# | Maturity | $648699 | $— | $648699 |
| Barclays Bank PLC | USD | 10000 | 12/04/2027 | 2.170% | CPI# | Maturity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1060146 |  | 1060146 |
| Barclays Bank PLC | USD | 10000 | 10/23/2029 | 2.388% | CPI# | Maturity | 484637 |  | 484637 |
| Barclays Bank PLC | USD | 13000 | 12/04/2032 | 2.233% | CPI# | Maturity | 1437771 |  | 1437771 |
| Citibank, NA | USD | 22000 | 11/04/2023 | 1.900% | CPI# | Maturity | 2699354 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2699354 |
| Citibank, NA | USD | 10000 | 07/20/2027 | 2.104% | CPI# | Maturity | 1143379 |  | 1143379 |
| Deutsche Bank AG | USD | 10000 | 09/04/2025 | 1.818% | CPI# | Maturity | 1255622 |  | 1255622 |
| JPMorgan Chase Bank, NA | USD | 10000 | 03/02/2024 | 2.175% | CPI# | Maturity | 948141 |  | 948141 |
| JPMorgan Chase Bank, NA | USD | 33000 | 07/20/2024 | 1.995% | CPI# | Maturity | 3700644 |  | 3700644 |
| JPMorgan Chase Bank, NA | USD | 13000 | 11/04/2026 | 2.015% | CPI# | Maturity | 1583035 |  | 1583035 |
| JPMorgan Chase Bank, NA | USD | 28000 | 12/27/2028 | 2.009% | CPI# | Maturity | 3342574 |  | 3342574 |
|  |  |  |  |  |  |  | $18304002 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18304002 |

---

*#* *Variable interest rate based on the rate of inflation as determined by the Consumer Price Index (CPI).* 

------

**INTEREST RATE SWAPS** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | **Rate Type** | **Rate Type** | | | | |
| <br>**Swap Counterparty** | **Notional<br>Amount<br>(000)** | **Notional<br>Amount<br>(000)** | <br>**Termination<br>Date** | **Payments<br>made<br>by the<br>Fund** | **Payments<br>received<br>by the<br>Fund** | **Payment<br>Frequency<br>Paid/<br>Received** | **Market<br>Value** | **Upfront<br>Premiums<br>Paid/<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
| Citibank, NA | USD | 12470 | 10/09/2029 | 1.125% | SIFMA\* | Quarterly | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1533474 | $— | $1533474 |

---

*\** *Variable interest rate based on the Securities Industry & Financial Markets Association (SIFMA) Municipal Swap Index.* 

**TOTAL RETURN SWAPS** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty & <br>Referenced Obligation** | **Rate Paid/<br>Received** | **Payment<br>Frequency** | **Current<br>Notional<br>(000)** | **Current<br>Notional<br>(000)** | **Maturity<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation)** |
| **Pay Total Return on Reference Obligation** |  |  |  |  |  |  |
| Morgan Stanley Capital Services LLC |  |  |  |  |  |  |
| Swiss Market Index Futures | 0.00% | Maturity | CHF | 1812 | 03/17/2023 | $56332 |
| Swiss Market Index Futures | 0.00% | Maturity | CHF | 1066 | 03/17/2023 | 12048 |
| Swiss Market Index Futures | 0.00% | Maturity | CHF | 107 | 03/17/2023 | 3314 |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71694 |

---

*(a)* *Security is exempt from registration under Rule 144A or Regulation S of the Securities Act of 1933. These securities are considered restricted, but liquid and may be resold in transactions exempt from registration. At December 31, 2022, the aggregate market value of these securities amounted to $31,708,595 or 2.7% of net assets.* 

*(b)* *IO - Interest Only.* 

*(c)* *Floating Rate Security. Stated interest/floor/ceiling rate was in effect at December 31, 2022.* 

*(d)* *To obtain a copy of the fund's shareholder report, please go to the Securities and Exchange Commission's website at www.sec.gov. Additionally, shareholder reports for AB funds can be obtained by calling AB at (800) 227-4618.* 

*(e)* *Position, or a portion thereof, has been segregated to collateralize margin requirements for open futures contracts.* 

*(f)* *Non-income producing security.* 

*(g)* *Affiliated investments.* 

*(h)* *The rate shown represents the 7-day yield as of period end.* 

*(i)* *As of December 31, 2022, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $102,014,743 and gross unrealized depreciation of investments was $(55,881,370), resulting in net unrealized appreciation of $46,133,373.* 

------

*As of December 31, 2022, the Portfolio's percentages of investments in municipal bonds that are insured and in insured municipal bonds that have been pre-refunded or escrowed to maturity are 8.5% and 0.0%, respectively.* 

*Currency Abbreviations:* 

*AUD – Australian Dollar* 

*CAD – Canadian Dollar* 

*CHF – Swiss Franc* 

*EUR – Euro* 

*GBP – Great British Pound* 

*JPY – Japanese Yen* 

*NOK – Norwegian Krone* 

*NZD – New Zealand Dollar* 

*SEK – Swedish Krona* 

*USD – United States Dollar* 

*Glossary:* 

*AGC – Assured Guaranty Corporation* 

*AGM – Assured Guaranty Municipal* 

*BAM – Build American Mutual* 

*CBT – Chicago Board of Trade* 

*CCRC – Congregate Care Retirement Center* 

*CDX-CMBX.NA – North American Commercial Mortgage-Backed Index* 

*CMBS – Commercial Mortgage-Backed Securities* 

*COP – Certificate of Participation* 

*CPI – Consumer Price Index* 

*EAFE – Europe, Australia, and Far East* 

*ETF – Exchange Traded Fund* 

*ETM – Escrowed to Maturity* 

*ETS - Emission Trading Scheme* 

*FTSE – Financial Times Stock Exchange* 

*LIBOR – London Interbank Offered Rate* 

*MSCI – Morgan Stanley Capital International* 

*MUNIPSA – SIFMA Municipal Swap Index* 

*NATL – National Interstate Corporation* 

*OMXS – Stockholm Stock Exchange* 

*OSE – Osaka Securities Exchange* 

*OSF – Order of St. Francis* 

*SOFR – Secured Overnight Financing Rate* 

*SPDR – Standard & Poor's Depository Receipt* 

*SPI – Share Price Index* 

*TOPIX – Tokyo Price Index* 

*TSX – Toronto Stock Exchange* 

*UPMC – University of Pittsburgh Medical Center* 

*XLCA – XL Capital Assurance Inc.* 

------

**Sanford C. Bernstein Fund, Inc.** 

**Tax-Aware Overlay B Portfolio** 

**December 31, 2022 (unaudited)** 

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP establishes a framework for measuring fair value, and a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability (including those valued based on their market values). Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Portfolio. Unobservable inputs reflect the Portfolio's own assumptions about the assumptions that market participants would use in pricing the asset or liability based on the best information available in the circumstances. Each investment is assigned a level based upon the observability of the inputs which are significant to the overall valuation. The three-tier hierarchy of inputs is summarized below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 - quoted prices in active markets for identical investments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates,
prepayment speeds, credit risk, etc.)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 - significant unobservable inputs (including the Portfolio's own assumptions in determining the fair value
of investments)

The fair value of debt instruments, such as bonds, and over-the-counter derivatives is generally based on market price quotations, recently executed market transactions (where observable) or industry recognized modeling techniques and are generally classified as Level 2. Pricing vendor inputs to Level 2 valuations may include quoted prices for similar investments in active markets, interest rate curves, coupon rates, currency rates, yield curves, option adjusted spreads, default rates, credit spreads and other unique security features in order to estimate the relevant cash flows which is then discounted to calculate fair values. If these inputs are unobservable and significant to the fair value, these investments will be classified as Level 3. In addition, non-agency rated investments are classified as Level 3.

Other fixed income investments, including non-U.S. government and corporate debt, are generally valued using quoted market prices, if available, which are typically impacted by current interest rates, maturity dates and any perceived credit risk of the issuer. Additionally, in the absence of quoted market prices, these inputs are used by pricing vendors to derive a valuation based upon industry or proprietary models which incorporate issuer specific data with relevant yield/spread comparisons with more widely quoted bonds with similar key characteristics. Those investments for which there are observable inputs are classified as Level 2. Where the inputs are not observable, the investments are classified as Level 3.

Where readily available market prices or relevant bid prices are not available for certain equity investments, such investments may be valued based on similar publicly traded investments, movements in relevant indices since last available prices or based upon underlying company fundamentals and comparable company data (such as multiples to earnings or other multiples to equity). Where an investment is valued using an observable input, by pricing vendors, such as another publicly traded security, the investment will be classified as Level 2. If management determines that an adjustment is appropriate based on restrictions on resale, illiquidity or uncertainty, and such adjustment is a significant component of the valuation, the investment will be classified as Level 3. An investment will also be classified as Level 3 where management uses company fundamentals and other significant inputs to determine the valuation.

------

Options are valued using market-based inputs to models, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency, where such inputs and models are available. Alternatively, the values may be obtained through unobservable management determined inputs and/or management's proprietary models. Where models are used, the selection of a particular model to value an option depends upon the contractual terms of, and specific risks inherent in, the option as well as the availability of pricing information in the market. Valuation models require a variety of inputs, including contractual terms, market prices, measures of volatility and correlations of such inputs. Exchange traded options will be classified as Level 2. For options that do not trade on exchange but trade in liquid markets, inputs can generally be verified and model selection does not involve significant management judgment. Options are classified within Level 2 on the fair value hierarchy when all of the significant inputs can be corroborated to market evidence. Otherwise such instruments are classified as Level 3.

Valuations of mortgage-backed or other asset backed securities, by pricing vendors, are based on both proprietary and industry recognized models and discounted cash flow techniques. Significant inputs to the valuation of these instruments are value of the collateral, the rates and timing of delinquencies, the rates and timing of prepayments, and default and loss expectations, which are driven in part by housing prices for residential mortgages. Significant inputs are determined based on relative value analyses, which incorporate comparisons to instruments with similar collateral and risk profiles, including relevant indices. Mortgage and asset backed securities for which management has collected current observable data through pricing services are generally categorized within Level 2. Those investments for which current observable data has not been provided are classified as Level 3.

------

The following table summarizes the valuation of the Portfolio's investments by the above fair value hierarchy levels as of December 31, 2022:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in Securities:** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| Long-Term Municipal Bonds | $— | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;814195802 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $814195802 |
| Investment Companies | 298126323 |  |  | 298126323 |
| Corporates - Investment Grade |  | 10516010 |  | 10516010 |
| Governments - Treasuries |  | 8881950 |  | 8881950 |
| Options Purchased - Puts |  | 8286723 |  | 8286723 |
| Corporates - Non-Investment Grade |  | 4678190 |  | 4678190 |
| Commercial Mortgage-Backed Securities |  | 3631726 |  | 3631726 |
| Collateralized Mortgage Obligations |  | 695903 |  | 695903 |
| Short-Term Investments | 233787 |  |  | 233787 |
| Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298360110 | 850886304 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1149246414 |
| **Other Financial Instruments<sup>(a)</sup>:** |  |  |  |  |
| **Assets:** | **Assets:** | **Assets:** | **Assets:** | **Assets:** |
| Futures | 1348153 |  |  | 1348153 |
| Forward Currency Exchange Contracts |  | 2317293 |  | 2317293 |
| Centrally Cleared Inflation (CPI) Swaps |  | 10582764 |  | 10582764 |
| Centrally Cleared Interest Rate Swaps |  | 654788 |  | 654788 |
| Inflation (CPI) Swaps |  | 18304002 |  | 18304002 |
| Interest Rate Swaps |  | 1533474 |  | 1533474 |
| Total Return Swaps |  | 71694 |  | 71694 |
| **Liabilities:** |  |  |  |  |
| Futures | (2640383) |  |  | (2640383) |
| Forward Currency Exchange Contracts |  | (2033485) |  | (2033485) |
| Centrally Cleared Inflation (CPI) Swaps |  | (2119344) |  | (2119344) |
| Credit Default Swaps |  | (622274) |  | (622274) |
| **Total** | $**297067880** | $**879575216** | $**—** | $**1176643096** |

---

*<sup>(a)</sup>* *Other financial instruments are derivative instruments, such as futures, forwards and swaps, which are valued at the unrealized appreciation (depreciation) on the instrument. Other financial instruments may also include swaps with upfront premiums, written options and written swaptions which are valued at market value.* 

A summary of the Portfolio's transactions in AB mutual funds for three months ended December 31, 2022 is as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Fund** | **Market Value<br>09/30/2022<br>(000)** | **Purchases<br>at Cost<br>(000)** | **Sales<br>Proceeds<br>(000)** | **Market Value<br>12/31/2022<br>(000)** | **Dividend<br>Income<br>(000)** |
| Government Money Market Portfolio | $7141 | $143969 | $150876 | $234 | $251 |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** BERNSTEIN SANFORD C FUND INC

- **b. Investment Company Act file number:** 811-05555

- **c. CIK number of Registrant:** 0000832808

- **d. LEI of Registrant:** 549300GA5IHQHIM7CU60

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

  - **Street Address 1:** ALLIANCEBERNSTEIN LP

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10105

  - **Telephone number:** 212-969-1000

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

- **a. Name of Series:** Tax-Aware Overlay B Portfolio

- **b. EDGAR series identifier (if any):** S000027650

- **c. LEI of Series:** LUC3N2ZMPZNMBTZW4051

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

- **a. Date of fiscal year-end:** 2023-09-30

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1164830525.05

**Total Liabilities:** $3899747.74

**Net Assets:** $1160930777.31

**Cash Not Reported:** $386704.15

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -4218.64000000 | **1-Year:** -8540.89000000 | **5-Year:** -13649.23000000 | **10-Year:** -7486.38000000 | **30-Year:** -3761.66000000

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

- **3-Month:** -5116.67000000 | **1-Year:** -14964.46000000 | **5-Year:** -18147.34000000 | **10-Year:** -15008.72000000 | **30-Year:** -6414.26000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000083500 | 0.50%                | 3.17%                | -0.96%               |
| Class ID C000083501 | 0.40%                | 3.26%                | -0.96%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $13719657.30             | $-4263058.43                               |
| Month 2  | $-8520445.75             | $57832562.57                               |
| Month 3  | $-2907842.67             | $-13251726.04                              |

**Designated Index Information**

- **Index Name:** 19% Russell 3000/11% MSCI ACWI ex-USA IMI (net)/42% Bloomberg 1-10 Year Municipal Bond/28% Bloomberg 1-10 Year US Gov Inflation-Linked Bonds

- **Index Identifier:** ^RUA,NDUEACWZ,B12MTR,LTI1TRUU:IND

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| UNITED AIRLINES INC                                                              | United Airlines Inc                                                                                                                    | CUSIP: 90932LAG2<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $931370.00    | 0.08%             | 2026-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Alliance Bernstein                                                               | AB Fixed Income Shares, Inc. - Government Money Market Portfolio                                                                       | CUSIP: 018616748<br>LEI: 5493006YWHO7MNK2U579 | Long             | STIV             | RF                | US        |    233787 | NS      | $233787.19    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| State of Illinois                                                                | ILLINOIS ST                                                                                                                            | CUSIP: 4521525F4<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   5740000 | PA      | $5916743.21   | 0.51%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                         | ARIZONA ST INDL DEV AUTH NATIONAL CHRT SCH REVOLVING LOAN FD                                                                           | CUSIP: 04052FBN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $890862.65    | 0.08%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Limited                                                                      | Long: SS2C1M1   IRS USD R F  3.32000 IS2C1M1 CCPINFLATIONZERO / Short: SS2C1M1   IRS USD P V 12MUSCPI IS2C1N2 CCPINFLATIONZERO         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   7300000 | OU      | $-292639.70   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| City of Atlanta GA Department of Aviation                                        | ATLANTA GA ARPT REVENUE                                                                                                                | CUSIP: 04780MZU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2350000 | PA      | $2520741.84   | 0.22%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Washington OH                                                          | WASHINGTON CNTY OH HOSP REVENUE                                                                                                        | CUSIP: 938154DV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000189.40   | 0.09%             | 2037-12-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| County of Cuyahoga OH                                                            | CUYAHOGA CNTY OH HOSP REVENUE                                                                                                          | CUSIP: 2322655J3<br>LEI: 549300GHDK9DGLUNJU89 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4196128.40   | 0.36%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Glendale AZ                                                              | GLENDALE AZ COPS                                                                                                                       | CUSIP: 37828AAJ8<br>LEI: 5493002BC35ZY7XRQ949 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $1733417.10   | 0.15%             | 2032-07-01      | Fixed         | 2.44%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                         | ARIZONA ST INDL DEV AUTH NATIONAL CHRT SCH REVOLVING LOAN FD                                                                           | CUSIP: 04052FBS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $696311.70    | 0.06%             | 2039-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp                              | NEW HOPE CULTURAL EDU FACS FIN CORP TX HOSP REVENUE                                                                                    | CUSIP: 645424AD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1160000 | PA      | $1173240.24   | 0.10%             | 2023-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Bridgeport CT                                                            | BRIDGEPORT CT                                                                                                                          | CUSIP: 108152BD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1051241.90   | 0.09%             | 2025-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Limited                                                                      | Long: BS281C9   IRS USD R V 12MUSCPI IS281D0 CCPINFLATIONZERO / Short: BS281C9   IRS USD P F  2.58500 IS281C9 CCPINFLATIONZERO         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   2355000 | OU      | $204001.78    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                             | PUERTO RICO ELEC PWR AUTH PWR REVENUE                                                                                                  | CUSIP: 74526QPP1<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   1010000 | PA      | $1006576.91   | 0.09%             | 2031-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                             | CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE                                                                                           | CUSIP: 167593RE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6690000 | PA      | $6951719.49   | 0.60%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Atlanta GA Department of Aviation                                        | ATLANTA GA ARPT REVENUE                                                                                                                | CUSIP: 04780MZY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $941547.30    | 0.08%             | 2039-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                                                                                                  | CUSIP: 167505YL4<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1690300.80   | 0.15%             | 2041-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HSBC Bank USA N.A.                                                               | PURCHASED USD / SOLD SEK                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | US        |         1 | NC      | $-31450.53    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | ILLINOIS ST FIN AUTH REVENUE                                                                                                           | CUSIP: 45204E6X1<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    200000 | PA      | $204499.76    | 0.02%             | 2033-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Renewable Water Resources                                                        | RENEWABLE WTR RESOURCES SC SWR SYS REVENUE                                                                                             | CUSIP: 75972EBU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7220000 | PA      | $7550904.87   | 0.65%             | 2025-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NOVANT HEALTH INC                                                                | Novant Health Inc                                                                                                                      | CUSIP: 66988AAG9<br>LEI: 549300ZUXEGFGE8EP917 | Long             | DBT              | CORP              | US        |   3525000 | PA      | $2603283.00   | 0.22%             | 2036-11-01      | Fixed         | 2.64%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                           | CALIFORNIA ST MUNI FIN AUTH SOL WST DISP REVENUE                                                                                       | CUSIP: 13048RAG2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   4710000 | PA      | $4196021.72   | 0.36%             | 2044-10-01      | Floating      | 2.40%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                                                                                                | CUSIP: 6461363N9<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1675000 | PA      | $1762770.00   | 0.15%             | 2030-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. LLC                                                         | PURCHASED USD / SOLD SEK                                                                                                               | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              |  | US        |         1 | NC      | $-20391.75    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | United States Treasury Note/Bond                                                                                                       | CUSIP: 9128286B1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7796000 | PA      | $7223481.25   | 0.62%             | 2029-02-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Allegheny County Airport Authority                                               | ALLEGHENY CNTY PA ARPT AUTH ARPT REVENUE                                                                                               | CUSIP: 01728LFE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1868180.00   | 0.16%             | 2039-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Greater Richmond Convention Center Authority                                     | GTR RICHMOND VA CONVENTION CENTER AUTH HOTEL TAX REVENUE                                                                               | CUSIP: 392329CK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2065000 | PA      | $2082876.50   | 0.18%             | 2023-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. LLC                                                         | PURCHASED CAD / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              |  | CA        |         1 | NC      | $4350.53      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                                | Long: IS0QGL9   IRS USD R V 12MLIBOR IS0QGM0 CPI SWAP 10212014 05 / Short: IS0QGL9   IRS USD P F  2.31000 IS0QGL9 CPI SWAP 10212014 05 | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DIR              |  | US        |  12000000 | OU      | $648698.76    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                                 | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE                                                                                   | CUSIP: 709224N54<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1355000 | PA      | $1489722.77   | 0.13%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Hawaii                                                             | UNIV OF HAWAII HI REVENUE                                                                                                              | CUSIP: 91428LJK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6035000 | PA      | $6127288.43   | 0.53%             | 2023-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue          | NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE                                                                                         | CUSIP: 64971WAZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3350000 | PA      | $3437860.45   | 0.30%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Brainerd Independent School District No 181                                      | BRAINERD MN INDEP SCH DIST #181                                                                                                        | CUSIP: 105007NG9<br>LEI: 549300P1U3THZTOHA392 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2532640.00   | 0.22%             | 2041-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Atlanta GA Department of Aviation                                        | ATLANTA GA ARPT REVENUE                                                                                                                | CUSIP: 04780MYR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $681673.26    | 0.06%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                      | WASHINGTON ST HSG FIN COMMISSION                                                                                                       | CUSIP: 93978TS59<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    977177 | PA      | $860889.53    | 0.07%             | 2035-12-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| HSBC Bank USA N.A.                                                               | PURCHASED GBP / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | GB        |         1 | NC      | $-276493.43   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Limited                                                                      | Long: BS249F6   IRS USD R V 12MUSCPI IS249G7 CCPINFLATIONZERO / Short: BS249F6   IRS USD P F  1.71400 IS249F6 CCPINFLATIONZERO         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1130000 | OU      | $170358.17    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Port of Seattle WA                                                               | PORT OF SEATTLE WA REVENUE                                                                                                             | CUSIP: 735389C55<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6304509.00   | 0.54%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oklahoma Development Finance Authority                                           | OKLAHOMA ST DEV FIN AUTH HLTHSYS REVENUE                                                                                               | CUSIP: 67884XCV7<br>LEI: 549300PXGPHUWC32DJ91 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $939555.50    | 0.08%             | 2037-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Polk County Industrial Development Authority                                     | POLK CNTY FL INDL DEV AUTH                                                                                                             | CUSIP: 731120NQ0<br>LEI: 549300UTRO4TAORRAL04 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $995147.30    | 0.09%             | 2033-01-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| State of Washington                                                              | WASHINGTON ST                                                                                                                          | CUSIP: 93974DSB5<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   3755000 | PA      | $3880100.83   | 0.33%             | 2024-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                                | Long: IS1ISL8   IRS USD R V 12MUSCPI IS1ISM9 INFLATIONZERO / Short: IS1ISL8   IRS USD P F  2.17000 IS1ISL8 INFLATIONZERO               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DIR              |  | US        |  10000000 | OU      | $1060146.30   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Spokane County School District No 81 Spokane                                     | SPOKANE CNTY WA SCH DIST #81 SPOKANE                                                                                                   | CUSIP: 848712PU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1959205.80   | 0.17%             | 2031-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                      | PUERTO RICO CMWLTH                                                                                                                     | CUSIP: 74514L3E5<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    321712 | PA      | $321711.55    | 0.03%             | 2023-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                   | Long: SELS47300 TRS CHF R F   .00000 SELS47300/SMH3 / Short: SELS47300 TRS CHF P E SELS47300/ZERO RATE                                 | CUSIP: 000000000<br>LEI: IGJSJL3JD5P30I6NJZ34 | N/A              | DE               |  | CH        |   1076741 | OU      | $12048.36     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Chandler Industrial Development Authority                                        | CHANDLER AZ INDL DEV AUTH INDL DEV REVENUE                                                                                             | CUSIP: 158862CB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2087148.40   | 0.18%             | 2052-09-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Osaka Exchange                                                                   | TOPIX INDX FUTR MAR23                                                                                                                  | CUSIP: 000000000<br>LEI: 3538001249AILNPRUX57 | N/A              | DE               |  | JP        |       -57 | NC      | $81500.06     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America N.A.                                                             | PURCHASED AUD / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | AU        |         1 | NC      | $-33135.70    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| City of Philadelphia PA                                                          | PHILADELPHIA PA                                                                                                                        | CUSIP: 717813XG9<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |   2890000 | PA      | $3161749.01   | 0.27%             | 2032-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                                           | CCO Holdings LLC / CCO Holdings Capital Corp                                                                                           | CUSIP: 1248EPCP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1546000 | PA      | $1143236.08   | 0.10%             | 2034-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank N.A.                                                         | PURCHASED USD / SOLD CAD                                                                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |         1 | NC      | $2928.08      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | ILLINOIS ST FIN AUTH REVENUE                                                                                                           | CUSIP: 45204E6Q6<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    100000 | PA      | $102735.66    | 0.01%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Association of Governmental Organizations                         | SOUTH CAROLINA ST ASSN OF GOVTL ORGANIZATIONS COPS                                                                                     | CUSIP: 836895FH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2002568.60   | 0.17%             | 2023-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                                 | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE                                                                                   | CUSIP: 709224XU8<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2905000 | PA      | $3170261.65   | 0.27%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port of Seattle WA                                                               | PORT OF SEATTLE WA REVENUE                                                                                                             | CUSIP: 735389Q84<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $926032.70    | 0.08%             | 2040-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue          | NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE                                                                                         | CUSIP: 64971WAG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5275000 | PA      | $5385369.35   | 0.46%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Citibank N.A.                                                                    | Long: IS1FYS8   IRS USD R V 12MUSCPI IS1FYT9 INFLATIONZERO / Short: IS1FYS8   IRS USD P F  2.10400 IS1FYS8 INFLATIONZERO               | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DIR              |  | US        |  10000000 | OU      | $1143378.90   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Nasdaq Stockholm AB                                                              | OMXS30 IND FUTURE JAN23                                                                                                                | CUSIP: 000000000<br>LEI: 549300KBQIVNEJEZVL96 | N/A              | DE               |  | SE        |       200 | NC      | $-95205.66    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                            | PENNSYLVANIA ST ECON DEV FING AUTH UPMC REVENUE                                                                                        | CUSIP: 70870JEM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1939409.40   | 0.17%             | 2047-11-15      | Floating      | 1.17%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                                                                                                | CUSIP: 6461363E9<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2822836.78   | 0.24%             | 2024-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ICE Futures Europe - Financial Products Division                                 | FTSE 100 IDX FUT MAR23                                                                                                                 | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DE               |  | GB        |        68 | NC      | $-42439.44    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Capital Region Water Water Revenue                                               | CAPITAL REGION WTR PA WTR REVENUE                                                                                                      | CUSIP: 14045AAT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1654218.90   | 0.14%             | 2029-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank N.A.                                                         | Long: IS1C8Y3   IRS USD R V 12MUSCPI IS1C8Z4 INFLATIONZERO / Short: IS1C8Y3   IRS USD P F  2.17500 IS1C8Y3 INFLATIONZERO               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DIR              |  | US        |  10000000 | OU      | $948141.10    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| City of Ashland KY                                                               | ASHLAND KY MED CENTER REVENUE                                                                                                          | CUSIP: 044293BN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $234147.89    | 0.02%             | 2026-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Patriots Energy Group Financing Agency                                           | PATRIOTS ENERGY GROUP FING AGY SC GAS SPLY REVENUE                                                                                     | CUSIP: 70342PAK0<br>LEI: 5493008X0DFBVFH4HL19 | Long             | DBT              | MUN               | US        |   7390000 | PA      | $7383475.37   | 0.64%             | 2048-10-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corp                                                | TOBACCO SETTLEMENT FING CORP NJ                                                                                                        | CUSIP: 888808HD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3450000 | PA      | $3626828.37   | 0.31%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Global Markets, Inc.                                                   | Long: IS1NBC5   CDS USD R F  3.00000 IS1NBC5 CMBX / Short: IS1NBC5   CDS USD P V 01MEVENT IS1NBD6 CMBX                                 | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DCR              |  | US        |     61458 | OU      | $-15033.74    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Dallas Fort Worth International Airport                                          | DALLAS-FORT WORTH TX INTERNATIONAL ARPT REVENUE                                                                                        | CUSIP: 2350365T3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2705169.00   | 0.23%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port Beaumont Navigation District                                                | PORT BEAUMONT TX NAV DIST DOCK& WHARF FAC REVENUE                                                                                      | CUSIP: 73360CAC8<br>LEI: 549300G8PKBXALUKJY33 | Long             | DBT              | MUN               | US        |    300000 | PA      | $240804.96    | 0.02%             | 2035-01-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| HSBC Bank USA N.A.                                                               | PURCHASED USD / SOLD JPY                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | US        |         1 | NC      | $-8784.14     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Limited                                                                      | Long: SS2C596   IRS USD R F  3.46600 IS2C596 CCPINFLATIONZERO / Short: SS2C596   IRS USD P V 12MUSCPI IS2C5A7 CCPINFLATIONZERO         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   7200000 | OU      | $-224774.42   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| State of Illinois                                                                | ILLINOIS ST                                                                                                                            | CUSIP: 452152S44<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   3810000 | PA      | $3907174.05   | 0.34%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Citibank N.A.                                                                    | PURCHASED JPY / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | JP        |         1 | NC      | $503811.64    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                                 | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE                                                                                   | CUSIP: 709224XF1<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |  11050000 | PA      | $11853984.74  | 1.02%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Broward Hospital District                                                  | NORTH BROWARD FL HOSP DIST                                                                                                             | CUSIP: 657883DA9<br>LEI: 549300HZL14T4Q7UDP41 | Long             | DBT              | MUN               | US        |   7070000 | PA      | $7454851.21   | 0.64%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Global Markets, Inc.                                                   | Long: IS1PAG8   CDS USD R F  3.00000 IS1PAG8 CMBX / Short: IS1PAG8   CDS USD P V 01MEVENT IS1PAH9 CMBX                                 | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DCR              |  | US        |    851547 | OU      | $-208302.62   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                             | COLORADO ST HLTH FACS AUTH REVENUE                                                                                                     | CUSIP: 19648FKL7<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1581576.30   | 0.14%             | 2034-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Vauxmont Metropolitan District                                                   | VAUXMONT MET DIST CO                                                                                                                   | CUSIP: 92242SBB8<br>LEI: 549300M7XL6MB0OW8D56 | Long             | DBT              | MUN               | US        |    110000 | PA      | $121064.31    | 0.01%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                              | NEW YORK NY                                                                                                                            | CUSIP: 64966KRW5<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   2510000 | PA      | $2537767.38   | 0.22%             | 2025-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE                                                                                         | CUSIP: 650116CX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4828293.50   | 0.42%             | 2030-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                      | PUERTO RICO CMWLTH                                                                                                                     | CUSIP: 74514L3G0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   1053285 | PA      | $1073157.54   | 0.09%             | 2027-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                                 | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE                                                                                   | CUSIP: 709224ZP7<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1065000 | PA      | $1155155.13   | 0.10%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | ILLINOIS ST FIN AUTH REVENUE                                                                                                           | CUSIP: 45204ET32<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   3020000 | PA      | $3255141.13   | 0.28%             | 2030-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Atlanta GA Airport Passenger Facility Charge                             | ATLANTA GA ARPT PASSENGER FAC CHARGE REVENUE                                                                                           | CUSIP: 04780TDV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4221585.60   | 0.36%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Limited                                                                      | Long: SS2BYW9   IRS USD R F  2.90900 IS2BYW9 CCPINFLATIONZERO / Short: SS2BYW9   IRS USD P V 12MUSCPI IS2BYX0 CCPINFLATIONZERO         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   3800000 | OU      | $-157501.22   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| City of Fort Wayne IN                                                            | FORT WAYNE IN ECON DEV SOLID WST FAC REVENUE                                                                                           | CUSIP: 34924CAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $835538.10    | 0.07%             | 2044-12-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Credit Suisse International                                                      | Long: IS1N8C4   CDS USD R F  3.00000 IS1N8C4 CMBX / Short: IS1N8C4   CDS USD P V 01MEVENT IS1N8D5 CMBX                                 | CUSIP: 000000000<br>LEI: E58DKGMJYYYJLN8C3868 | N/A              | DCR              |  | GB        |    630424 | OU      | $-154212.13   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                             | TRIBOROUGH NY BRIDGE & TUNNEL AUTH PAYROLL MOBILITY TAX                                                                                | CUSIP: 89602HCV7<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1152206.30   | 0.10%             | 2030-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Wisconsin                                                               | WISCONSIN ST                                                                                                                           | CUSIP: 97705MTJ4<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1657914.45   | 0.14%             | 2040-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                        | HOUSTON TX ARPT SYS REVENUE                                                                                                            | CUSIP: 4423487H5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $375798.26    | 0.03%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Ashland KY                                                               | ASHLAND KY MED CENTER REVENUE                                                                                                          | CUSIP: 044293BT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    195000 | PA      | $206997.04    | 0.02%             | 2031-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Limited                                                                      | Long: BS283G7   IRS USD R V 12MUSCPI IS283H8 CCPINFLATIONZERO / Short: BS283G7   IRS USD P F  2.61250 IS283G7 CCPINFLATIONZERO         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   2355000 | OU      | $201444.37    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp                                                | NEW YORK ST LIBERTY DEV CORP LIBERTY REVENUE                                                                                           | CUSIP: 649519DH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2370000 | PA      | $2120789.05   | 0.18%             | 2069-09-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                                           | US ULTRA BOND CBT MAR23                                                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        48 | NC      | $-135819.12   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| UBS AG                                                                           | AL33003 ALLIANCE                                                                                                                       | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DE               |  | US        |    106000 | NC      | $639210.17    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI HOTEL REVENUE                                                                                                       | CUSIP: 74447DAE7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1291052.70   | 0.11%             | 2042-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Lakewood Ranch Stewardship District                                              | LAKEWOOD RANCH FL STEWARDSHIP DIST SPL ASSMNT REVENUE                                                                                  | CUSIP: 51265KDJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1830000 | PA      | $1563841.87   | 0.13%             | 2033-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE                                                                                         | CUSIP: 650116DA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1355000 | PA      | $1211293.58   | 0.10%             | 2045-10-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                                                              | Medline Borrower LP                                                                                                                    | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $926854.00    | 0.08%             | 2029-04-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| North Broward Hospital District                                                  | NORTH BROWARD FL HOSP DIST                                                                                                             | CUSIP: 657883DF8<br>LEI: 549300HZL14T4Q7UDP41 | Long             | DBT              | MUN               | US        |   2950000 | PA      | $3090606.44   | 0.27%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                                                                                                  | CUSIP: 167505NG7<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $939314.20    | 0.08%             | 2029-11-01      | Fixed         | 6.32%                 | No            |                  2 | On Loan: No      |
| New Jersey Turnpike Authority                                                    | NEW JERSEY ST TURNPIKE AUTH TURNPIKE REVENUE                                                                                           | CUSIP: 6461397E9<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   1565000 | PA      | $1725589.81   | 0.15%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                                      | S+P MID 400 EMINI MAR23                                                                                                                | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |       -25 | NC      | $109883.96    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Bank AG                                                                 | PURCHASED CAD / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | CA        |         1 | NC      | $-34243.84    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                      | PUERTO RICO CMWLTH                                                                                                                     | CUSIP: 74514L3J4<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    112694 | PA      | $116522.01    | 0.01%             | 2031-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| City Of South Miami Health Facilities Authority Inc                              | S MIAMI FL HLTH FACS AUTH                                                                                                              | CUSIP: 838810DR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2625000 | PA      | $2838428.25   | 0.24%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                             | TRIBOROUGH NY BRIDGE & TUNNEL AUTH PAYROLL MOBILITY TAX                                                                                | CUSIP: 89602HAG2<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2295297.60   | 0.20%             | 2034-05-15      | Fixed         | 2.41%                 | No            |                  2 | On Loan: No      |
| Freddie Mac Multifamily                                                          | Freddie Mac Multifamily ML Certificates                                                                                                | CUSIP: 35833JAJ6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    984081 | PA      | $735857.21    | 0.06%             | 2038-06-25      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| LCH Limited                                                                      | Long: BS2AU39   IRS USD R V 12MUSCPI IS2AU40 CCPINFLATIONZERO / Short: BS2AU39   IRS USD P F  2.68000 IS2AU39 CCPINFLATIONZERO         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   4150000 | OU      | $295952.60    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Metropolitan Transit Authority of Harris County Sales & Use Tax Revenue          | HARRIS CNTY TX MET TRANSIT AUTH SALES & USE TAX                                                                                        | CUSIP: 41422EJA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1185000 | PA      | $1329422.35   | 0.11%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                                                          | John Deere Capital Corp                                                                                                                | CUSIP: 24422EVT3<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $997740.00    | 0.09%             | 2023-07-10      | Floating      | 3.78%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue          | NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE                                                                                         | CUSIP: 64971WCD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10665000 | PA      | $10943308.51  | 0.94%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                                                                                             | CUSIP: 74442PMQ5<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    805000 | PA      | $808646.65    | 0.07%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI EDUCTNL FAC REVENUE                                                                                                 | CUSIP: 74443DHG9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005643.00   | 0.09%             | 2042-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| State of Washington                                                              | WASHINGTON ST                                                                                                                          | CUSIP: 93974DNZ7<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   3735000 | PA      | $3773491.42   | 0.33%             | 2023-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Pennsylvania                                                     | PENNSYLVANIA ST                                                                                                                        | CUSIP: 70914PJ94<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1065669.80   | 0.09%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                             | COLORADO ST HLTH FACS AUTH REVENUE                                                                                                     | CUSIP: 19648FJV7<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   4100000 | PA      | $4295661.84   | 0.37%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HSBC Bank USA N.A.                                                               | PURCHASED USD / SOLD GBP                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | US        |         1 | NC      | $-14281.83    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Bank USA N.A.                                                               | PURCHASED USD / SOLD CAD                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | US        |         1 | NC      | $-20100.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| The Montreal Exchange / Bourse De Montreal                                       | S+P/TSX 60 IX FUT MAR23                                                                                                                | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | CA        |       -50 | NC      | $261206.95    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| San Francisco City & County Airport Comm-San Francisco International Airport     | SAN FRANCISCO CALIF CITY &CNTY ARPTS COMMN INTL ARPT REV                                                                               | CUSIP: 79766DSH3<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   3755000 | PA      | $3849535.13   | 0.33%             | 2024-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | ILLINOIS ST FIN AUTH REVENUE                                                                                                           | CUSIP: 45204ET57<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1725000 | PA      | $1854004.82   | 0.16%             | 2032-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Credit Suisse International                                                      | Long: IS1NCU0   CDS USD R F  3.00000 IS1NCU0 CMBX / Short: IS1NCU0   CDS USD P V 01MEVENT IS1NCV1 CMBX                                 | CUSIP: 000000000<br>LEI: E58DKGMJYYYJLN8C3868 | N/A              | DCR              |  | GB        |     33580 | OU      | $-8214.31     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Port of Seattle WA                                                               | PORT OF SEATTLE WA REVENUE                                                                                                             | CUSIP: 735389F52<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   5340000 | PA      | $5663443.80   | 0.49%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Citibank N.A.                                                                    | Long: IS1WUB4   IRS USD R V 01MMUNIP IS1WUC5 VANILLA / Short: IS1WUB4   IRS USD P F  1.12500 IS1WUB4 VANILLA                           | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DIR              |  | US        |  12470000 | OU      | $1533473.75   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Municipal Electric Authority of Georgia                                          | MUNI ELEC AUTH OF GEORGIA                                                                                                              | CUSIP: 626207X74<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    180000 | PA      | $193439.66    | 0.02%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                              | CALIFORNIA ST                                                                                                                          | CUSIP: 13063CMU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $52120.45     | 0.00%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                                                 | Fannie Mae Connecticut Avenue Securities                                                                                               | CUSIP: 30711XBM5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    102392 | PA      | $106903.70    | 0.01%             | 2028-08-25      | Floating      | 11.14%                | No            |                  2 | On Loan: No      |
| City of Ashland KY                                                               | ASHLAND KY MED CENTER REVENUE                                                                                                          | CUSIP: 044293BP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $252654.94    | 0.02%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank N.A.                                                         | Long: IS1QI56   IRS USD R V 12MUSCPI IS1QI67 INFLATIONZERO / Short: IS1QI56   IRS USD P F  2.00900 IS1QI56 INFLATIONZERO               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DIR              |  | US        |  28000000 | OU      | $3342574.48   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Sacramento County Water Financing Authority                                      | SACRAMENTO CNTY CA WTR FING AUTH REVENUE                                                                                               | CUSIP: 78615RCV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3675000 | PA      | $3204478.73   | 0.28%             | 2039-06-01      | Floating      | 3.76%                 | No            |                  2 | On Loan: No      |
| South Lyon Community Schools                                                     | SOUTH LYON MI CMNTY SCHS                                                                                                               | CUSIP: 838736XB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3640000 | PA      | $3894557.58   | 0.34%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | ILLINOIS ST FIN AUTH REVENUE                                                                                                           | CUSIP: 45204EL71<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   6775000 | PA      | $7232542.17   | 0.62%             | 2033-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                                 | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE                                                                                   | CUSIP: 709224A33<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2201814.20   | 0.19%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                                                                                                  | CUSIP: 167505XC5<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    160000 | PA      | $162811.50    | 0.01%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                                | Long: IS1IRW2   IRS USD R V 12MUSCPI IS1IRX3 INFLATIONZERO / Short: IS1IRW2   IRS USD P F  2.23250 IS1IRW2 INFLATIONZERO               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DIR              |  | US        |  13000000 | OU      | $1437771.27   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                                      | Long: IS1N5S9   CDS USD R F  3.00000 IS1N5S9 CMBX / Short: IS1N5S9   CDS USD P V 01MEVENT IS1N5T0 CMBX                                 | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | GB        |    546790 | OU      | $-133753.83   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Palm Beach County Health Facilities Authority                                    | PALM BEACH CNTY FL HLTH FACS AUTH REVENUE                                                                                              | CUSIP: 696507UT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $175153.14    | 0.02%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                                      | S+P500 EMINI FUT MAR23                                                                                                                 | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |       -91 | NC      | $412295.86    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Lower Colorado River Authority                                                   | LOWER COLORADO RIVER TX AUTH TRANSMISSION CONTRACT REVENUE                                                                             | CUSIP: 54811BYL9<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |   5255000 | PA      | $5815611.81   | 0.50%             | 2036-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Wisconsin                                                               | WISCONSIN ST                                                                                                                           | CUSIP: 97705MTF2<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1454243.31   | 0.13%             | 2037-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE                                                                                         | CUSIP: 650116CQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    265000 | PA      | $243407.01    | 0.02%             | 2036-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Comanche County Hospital Authority                                               | COMANCHE CNTY OK HOSP AUTH REVENUE                                                                                                     | CUSIP: 199875HN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001560.90   | 0.09%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BAYLOR SCOTT & WHITE HOL                                                         | Baylor Scott & White Holdings                                                                                                          | CUSIP: 072863AH6<br>LEI: 549300JQDKSBWYRGGV95 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $781310.00    | 0.07%             | 2030-11-15      | Fixed         | 1.78%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                                                                                                | CUSIP: 6461363L3<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1630000 | PA      | $1718499.06   | 0.15%             | 2029-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Wisconsin                                                               | WISCONSIN ST                                                                                                                           | CUSIP: 97705MTA3<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1156820.10   | 0.10%             | 2032-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dallas Fort Worth International Airport                                          | DALLAS-FORT WORTH TX INTERNATIONAL ARPT REVENUE                                                                                        | CUSIP: 2350365U0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1225000 | PA      | $1347451.86   | 0.12%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ICE Futures U.S., Inc.                                                           | MSCI EMGMKT MAR23                                                                                                                      | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DE               |  | US        |       454 | NC      | $-403763.69   | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| State of Wisconsin                                                               | WISCONSIN ST                                                                                                                           | CUSIP: 97705MSY2<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |   3390000 | PA      | $3920615.34   | 0.34%             | 2030-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas Water Development Board                                                    | TEXAS ST WTR DEV BRD                                                                                                                   | CUSIP: 8828544C3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1255000 | PA      | $1402438.66   | 0.12%             | 2028-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                                 | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE                                                                                   | CUSIP: 709224L31<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   3900000 | PA      | $4154136.87   | 0.36%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Housing Finance Agency                                                | CALIFORNIA HSG FIN AGY MUNI CTFS                                                                                                       | CUSIP: 13033DAH8<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |   1969730 | PA      | $106680.41    | 0.01%             | 2035-03-25      | Variable      | 0.82%                 | No            |                  2 | On Loan: No      |
| County of Montgomery OH                                                          | MONTGOMERY CNTY OH HOSP REVENUE                                                                                                        | CUSIP: 613520NT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1283208.07   | 0.11%             | 2034-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                       | MICHIGAN ST FIN AUTH REVENUE                                                                                                           | CUSIP: 59447TDZ3<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    900000 | PA      | $902158.65    | 0.08%             | 2029-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Vauxmont Metropolitan District                                                   | VAUXMONT MET DIST CO                                                                                                                   | CUSIP: 92242SAN3<br>LEI: 549300M7XL6MB0OW8D56 | Long             | DBT              | MUN               | US        |    177000 | PA      | $145564.94    | 0.01%             | 2050-12-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                                              | Freddie Mac Structured Agency Credit Risk Debt Notes                                                                                   | CUSIP: 3137G0AD1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     87412 | PA      | $88450.73     | 0.01%             | 2023-11-25      | Floating      | 8.64%                 | No            |                  2 | On Loan: No      |
| Vauxmont Metropolitan District                                                   | VAUXMONT MET DIST CO                                                                                                                   | CUSIP: 92242SAV5<br>LEI: 549300M7XL6MB0OW8D56 | Long             | DBT              | MUN               | US        |    105000 | PA      | $114205.27    | 0.01%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Hawaii                                                             | UNIV OF HAWAII HI REVENUE                                                                                                              | CUSIP: 91428LJN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7010000 | PA      | $7578670.83   | 0.65%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                                                 | Connecticut Avenue Securities Trust 2020-SBT1                                                                                          | CUSIP: 20753VCZ9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    250000 | PA      | $251340.35    | 0.02%             | 2040-02-25      | Floating      | 8.04%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia PA Water & Wastewater Revenue                               | PHILADELPHIA PA WTR & WSTWTR REVENUE                                                                                                   | CUSIP: 717893P96<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1655000 | PA      | $1800049.50   | 0.16%             | 2038-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. LLC                                                         | PURCHASED NZD / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              |  | NZ        |         1 | NC      | $173353.08    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE                                                                                         | CUSIP: 650116FP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1019844.50   | 0.09%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                              | CALIFORNIA ST                                                                                                                          | CUSIP: 13063CQT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2085000 | PA      | $2193289.06   | 0.19%             | 2026-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HTA TRRB Custodial Trust                                                         | HTA TRRB-2007N-745190ZR2 ASSURED CUSTODIAL TRUST                                                                                       | CUSIP: 44333GAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1005000 | PA      | $999389.09    | 0.09%             | 2034-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                                                                                             | CUSIP: 74442PMN2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    730000 | PA      | $734586.52    | 0.06%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Fayetteville AR Sales & Use Tax Revenue                                  | FAYETTEVILLE AR SALES & USE TAX CAPITAL IMPT                                                                                           | CUSIP: 312673FR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $950939.10    | 0.08%             | 2032-11-01      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| City of Bridgeport CT                                                            | BRIDGEPORT CT                                                                                                                          | CUSIP: 108152AK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1890000 | PA      | $2057435.86   | 0.18%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oklahoma Development Finance Authority                                           | OKLAHOMA ST DEV FIN AUTH                                                                                                               | CUSIP: 6789084D3<br>LEI: 549300PXGPHUWC32DJ91 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $908119.70    | 0.08%             | 2045-11-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| State of Wisconsin                                                               | WISCONSIN ST                                                                                                                           | CUSIP: 97705MTE5<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |   1210000 | PA      | $1363531.94   | 0.12%             | 2036-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                                           | US 10YR NOTE (CBT)MAR23                                                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       187 | NC      | $-125305.26   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| California Housing Finance Agency                                                | CALIFORNIA HSG FIN AGY MUNI CTFS                                                                                                       | CUSIP: 13033DAE5<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |    974403 | PA      | $881325.06    | 0.08%             | 2035-11-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                        | NEW JERSEY ST ECON DEV AUTH SPL FAC REVENUE                                                                                            | CUSIP: 64578CAH4<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1185000 | PA      | $1177297.74   | 0.10%             | 2029-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| State of Wisconsin                                                               | WISCONSIN ST                                                                                                                           | CUSIP: 97705MSN6<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2891309.25   | 0.25%             | 2030-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Dakota Health & Educational Facilities Authority                           | SOUTH DAKOTA ST HLTH & EDUCTNL FACS AUTH                                                                                               | CUSIP: 83755VC77<br>LEI: 549300ZW6LKR8UI2C378 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2144293.00   | 0.18%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                                                 | Fannie Mae Connecticut Avenue Securities                                                                                               | CUSIP: 30711XBB9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     33972 | PA      | $34479.61     | 0.00%             | 2025-07-25      | Floating      | 9.39%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                                 | FLORIDA ST DEV FIN CORP                                                                                                                | CUSIP: 340618DE4<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3988588.00   | 0.34%             | 2056-12-01      | Floating      | 2.90%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC                                                              | United Airlines Inc                                                                                                                    | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |    500000 | PA      | $436355.00    | 0.04%             | 2029-04-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| New Jersey Health Care Facilities Financing Authority                            | NEW JERSEY ST HLTH CARE FACS FING AUTH REVENUE                                                                                         | CUSIP: 645790LB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1325000 | PA      | $1414933.05   | 0.12%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Municipal Power Agency                                                   | FLORIDA ST MUNI PWR AGY                                                                                                                | CUSIP: 342816S22<br>LEI: 549300M3I10QJUPNU131 | Long             | DBT              | MUN               | US        |    500000 | PA      | $436310.65    | 0.04%             | 2026-10-01      | Fixed         | 1.43%                 | No            |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority                                            | CSCDA CMNTY IMPT AUTH CA ESSENTIAL HSG REVENUE                                                                                         | CUSIP: 126292AL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1449894.00   | 0.12%             | 2046-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| State of Connecticut                                                             | CONNECTICUT ST                                                                                                                         | CUSIP: 20772KCK3<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |   1415000 | PA      | $1549318.73   | 0.13%             | 2027-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Limited                                                                      | Long: BS2G4X5   IRS USD R V 00MSOFR IS2G4Y6 CCPOIS / Short: BS2G4X5   IRS USD P F  2.77650 IS2G4X5 CCPOIS                              | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  10850000 | OU      | $654787.78    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                    | MASSACHUSETTS ST                                                                                                                       | CUSIP: 57582PCU2<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   2775000 | PA      | $2718451.88   | 0.23%             | 2037-05-01      | Floating      | 3.54%                 | No            |                  2 | On Loan: No      |
| City Of South Miami Health Facilities Authority Inc                              | S MIAMI FL HLTH FACS AUTH                                                                                                              | CUSIP: 838810DS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2966688.45   | 0.26%             | 2029-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank N.A.                                                         | Long: IS19KK4   IRS USD R V 03MLIBOR IS19KL5 CPILV506025 / Short: IS19KK4   IRS USD P F  2.01500 IS19KK4 CPILV506025                   | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DIR              |  | US        |  13000000 | OU      | $1583035.48   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| SPDR S&P 500 ETF Trust                                                           | SPDR S&P 500 ETF Trust                                                                                                                 | CUSIP: 78462F103<br>LEI: 549300NZAMSJ8FXPQQ63 | Long             | EC               | RF                | US        |    357842 | NS      | $136849516.06 | 11.79%            |  |  |  | No            |                  1 | On Loan: No      |
| Puerto Rico Industrial Tourist Educational Medical & Envirml Ctl Facs Fing Auth  | PUERTO RICO INDL TOURIST EDUCTNL MED & ENVRNMNTL CONTROL FAC                                                                           | CUSIP: 74527JAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3315000 | PA      | $3361026.79   | 0.29%             | 2026-06-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | ILLINOIS ST FIN AUTH REVENUE                                                                                                           | CUSIP: 45204E6T0<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    100000 | PA      | $103709.87    | 0.01%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                                                                                                | CUSIP: 6461364B4<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   5975000 | PA      | $6472635.05   | 0.56%             | 2030-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kansas Development Finance Authority                                             | KANSAS ST DEV FIN AUTH REVENUE                                                                                                         | CUSIP: 48542RSJ4<br>LEI: 549300WTL7BL8KBDPR87 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1767806.00   | 0.15%             | 2026-05-01      | Fixed         | 1.15%                 | No            |                  2 | On Loan: No      |
| Allegheny County Sanitary Authority                                              | ALLEGHENY CNTY PA SAN AUTH                                                                                                             | CUSIP: 017357YS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3105000 | PA      | $3169236.86   | 0.27%             | 2024-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue          | NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE                                                                                         | CUSIP: 64971WAJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2551774.50   | 0.22%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                                 | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE                                                                                   | CUSIP: 709224A58<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2540000 | PA      | $2794677.67   | 0.24%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Houston                                                            | UNIV OF HOUSTON TX UNIV REVENUES                                                                                                       | CUSIP: 914302BZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  13870000 | PA      | $13900347.56  | 1.20%             | 2023-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Osceola FL Transportation Revenue                                      | OSCEOLA CNTY FL TRANSPRTN REVENUE                                                                                                      | CUSIP: 688031EK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $68982.31     | 0.01%             | 2030-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| California Housing Finance Agency                                                | CALIFORNIA HSG FIN AGY MUNI CTFS                                                                                                       | CUSIP: 13033DAC9<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |   2166678 | PA      | $2091820.21   | 0.18%             | 2033-03-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Centerra Metropolitan District No 1                                              | CENTERRA CO MET DIST #1 SPL REVENUE                                                                                                    | CUSIP: 15200XAE3<br>LEI: 549300SHE5ZPSMGZH793 | Long             | DBT              | MUN               | US        |   2375000 | PA      | $2331003.36   | 0.20%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Clark County School District                                                     | CLARK CNTY NV SCH DIST                                                                                                                 | CUSIP: 1810592P0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1155000 | PA      | $1275804.80   | 0.11%             | 2038-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Limited                                                                      | Long: BS21YN0   IRS USD R V 12MUSCPI IS21YO1 CCPINFLATIONZERO / Short: BS21YN0   IRS USD P F  1.23000 IS21YN0 CCPINFLATIONZERO         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  20920000 | OU      | $3618280.94   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC Multifamily VRD Certificates                                               | FEDERAL HOME LOAN MTGE CORP VA MF VARIABLE RATE CTFS                                                                                   | CUSIP: 31350ACN6<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |   4800000 | PA      | $3954348.48   | 0.34%             | 2035-06-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                      | PUERTO RICO CMWLTH                                                                                                                     | CUSIP: 74514L3Q8<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |      4025 | PA      | $3730.46      | 0.00%             | 2024-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Singapore Exchange Derivatives Clearing Limited                                  | MSCI SING IX ETS JAN23                                                                                                                 | CUSIP: 000000000<br>LEI: 549300ZLWT3FK3F0FW61 | N/A              | DE               |  | SG        |      -224 | NC      | $44572.81     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| New Jersey Turnpike Authority                                                    | NEW JERSEY ST TURNPIKE AUTH TURNPIKE REVENUE                                                                                           | CUSIP: 646139ZX6<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |  11070000 | PA      | $11826772.88  | 1.02%             | 2026-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Glendale AZ                                                              | GLENDALE AZ COPS                                                                                                                       | CUSIP: 37828AAF6<br>LEI: 5493002BC35ZY7XRQ949 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $817369.70    | 0.07%             | 2029-07-01      | Fixed         | 2.06%                 | No            |                  2 | On Loan: No      |
| Port of Seattle WA                                                               | PORT OF SEATTLE WA REVENUE                                                                                                             | CUSIP: 735389F45<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   4925000 | PA      | $5170202.45   | 0.45%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue          | NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE                                                                                         | CUSIP: 64971WBA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6156573.00   | 0.53%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Parish of St James LA                                                            | SAINT JAMES PARISH LA REVENUE                                                                                                          | CUSIP: 790103AU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $621055.71    | 0.05%             | 2038-06-01      | Floating      | 6.10%                 | No            |                  2 | On Loan: No      |
| LCH Limited                                                                      | Long: SS2B560   IRS USD R F  2.74800 IS2B560 CCPINFLATIONZERO / Short: SS2B560   IRS USD P V 12MUSCPI IS2B571 CCPINFLATIONZERO         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   3350000 | OU      | $-195343.19   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank N.A.                                                                    | PURCHASED AUD / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | AU        |         1 | NC      | $1254763.36   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                                                                                                  | CUSIP: 167505XA9<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    310000 | PA      | $317193.40    | 0.03%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ohio Higher Educational Facility Commission                                      | OHIO ST HGR EDUCTNL FAC COMMISSION HLTHCR REVENUE                                                                                      | CUSIP: 677510CS6<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |   1110000 | PA      | $1171084.74   | 0.10%             | 2038-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UBS AG                                                                           | AL32992 ALLIANCE                                                                                                                       | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DE               |  | US        |     61000 | NC      | $6617038.62   | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Vauxmont Metropolitan District                                                   | VAUXMONT MET DIST CO                                                                                                                   | CUSIP: 92242SBE2<br>LEI: 549300M7XL6MB0OW8D56 | Long             | DBT              | MUN               | US        |    100000 | PA      | $102216.01    | 0.01%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UBS AG                                                                           | AL37715 ALLIANCE                                                                                                                       | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DE               |  | US        |      1640 | NC      | $281938.61    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | ILLINOIS ST FIN AUTH REVENUE                                                                                                           | CUSIP: 45204E6W3<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    100000 | PA      | $102702.17    | 0.01%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ohio Higher Educational Facility Commission                                      | OHIO ST HGR EDUCTNL FAC COMMISSION HLTHCR REVENUE                                                                                      | CUSIP: 677510CN7<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |    360000 | PA      | $385819.92    | 0.03%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                         | ARIZONA ST INDL DEV AUTH NATIONAL CHRT SCH REVOLVING LOAN FD                                                                           | CUSIP: 04052FBQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1041895.80   | 0.09%             | 2037-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Ohio Higher Educational Facility Commission                                      | OHIO ST HGR EDUCTNL FAC COMMISSION HLTHCR REVENUE                                                                                      | CUSIP: 677510CP2<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |    750000 | PA      | $810928.73    | 0.07%             | 2035-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia PA Water & Wastewater Revenue                               | PHILADELPHIA PA WTR & WSTWTR REVENUE                                                                                                   | CUSIP: 717893P88<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    685000 | PA      | $750281.94    | 0.06%             | 2037-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Osaka Exchange                                                                   | NIKKEI 225 (OSE) MAR23                                                                                                                 | CUSIP: 000000000<br>LEI: 3538001249AILNPRUX57 | N/A              | DE               |  | JP        |        21 | NC      | $-244969.77   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Port of Seattle WA                                                               | PORT OF SEATTLE WA REVENUE                                                                                                             | CUSIP: 735389F60<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   5775000 | PA      | $6173807.06   | 0.53%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI EXEMPT FACS REVENUE                                                                                                 | CUSIP: 74443QAB8<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   3245000 | PA      | $3248087.94   | 0.28%             | 2024-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Wisconsin                                                               | WISCONSIN ST                                                                                                                           | CUSIP: 97705MSL0<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |   3800000 | PA      | $4257947.88   | 0.37%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HSBC Bank USA N.A.                                                               | PURCHASED USD / SOLD NZD                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | US        |         1 | NC      | $15042.23     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Tobacco Settlement Finance Authority                                             | TOBACCO SETTLEMENT FIN AUTH WV ASSET BACKED                                                                                            | CUSIP: 88880LAW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3070000 | PA      | $2621379.06   | 0.23%             | 2049-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Eurex Deutschland                                                                | EURO STOXX 50 MAR23                                                                                                                    | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               |  | DE        |      -133 | NC      | $297375.75    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                                                                                                | CUSIP: 6461364A6<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    160000 | PA      | $173824.45    | 0.01%             | 2029-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ohio Higher Educational Facility Commission                                      | OHIO ST HGR EDUCTNL FAC COMMISSION HLTHCR REVENUE                                                                                      | CUSIP: 677510CT4<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |    780000 | PA      | $820741.27    | 0.07%             | 2039-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| State of Wisconsin                                                               | WISCONSIN ST                                                                                                                           | CUSIP: 97705MTH8<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1665063.45   | 0.14%             | 2039-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank N.A.                                                         | PURCHASED USD / SOLD NZD                                                                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |         1 | NC      | $-5438.97     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank N.A.                                                         | PURCHASED USD / SOLD AUD                                                                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |         1 | NC      | $-92893.37    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| City of Detroit MI                                                               | DETROIT MI                                                                                                                             | CUSIP: 2510933E8<br>LEI: 549300BQRJP7MKKHOY28 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1240808.40   | 0.11%             | 2026-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Michigan                                                           | UNIV OF MICHIGAN MI                                                                                                                    | CUSIP: 914455VK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1255743.38   | 0.11%             | 2023-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                        | INDIANA ST FIN AUTH POLL CONTROL REVENUE                                                                                               | CUSIP: 45505VAE6<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    330000 | PA      | $281184.45    | 0.02%             | 2030-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                                                                                             | CUSIP: 74442PTT2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $892744.50    | 0.08%             | 2027-06-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH MUNI CTFS                                                                                                         | CUSIP: 63607WAC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4969069 | PA      | $4798209.66   | 0.41%             | 2036-09-20      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                            | PENNSYLVANIA ST ECON DEV FING AUTH T/E PRIVATE ACTIVITY REV                                                                            | CUSIP: 70868YAS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3300000 | PA      | $3425082.87   | 0.30%             | 2041-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| California Housing Finance Agency                                                | CALIFORNIA HSG FIN AGY MUNI CTFS                                                                                                       | CUSIP: 13033DAG0<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |   2954596 | PA      | $2895868.71   | 0.25%             | 2035-03-25      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| County of Osceola FL Transportation Revenue                                      | OSCEOLA CNTY FL TRANSPRTN REVENUE                                                                                                      | CUSIP: 688031EP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $55215.81     | 0.00%             | 2034-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH MUNI CTFS                                                                                                         | CUSIP: 63607WAD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3750000 | PA      | $90327.75     | 0.01%             | 2036-09-20      | Variable      | 0.33%                 | No            |                  2 | On Loan: No      |
| State of Wisconsin                                                               | WISCONSIN ST                                                                                                                           | CUSIP: 97705MTG0<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1616256.28   | 0.14%             | 2038-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Limited                                                                      | Long: SS2CQM6   IRS USD R F  3.29000 IS2CQM6 CCPINFLATIONZERO / Short: SS2CQM6   IRS USD P V 12MUSCPI IS2CQN7 CCPINFLATIONZERO         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  30110000 | OU      | $-801610.40   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| New Jersey Turnpike Authority                                                    | NEW JERSEY ST TURNPIKE AUTH TURNPIKE REVENUE                                                                                           | CUSIP: 646140DH3<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   4840000 | PA      | $5202777.84   | 0.45%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Connecticut                                                             | CONNECTICUT ST                                                                                                                         | CUSIP: 20772JU91<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |  24370000 | PA      | $24462298.94  | 2.11%             | 2023-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                      | PUERTO RICO CMWLTH                                                                                                                     | CUSIP: 74514L3M7<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |      9287 | PA      | $7597.38      | 0.00%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                                   | PURCHASED JPY / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | JP        |         1 | NC      | $194647.46    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                                      | VIRGINIA ST SMALL BUSINESS FING AUTH ENVIRONMENTAL FACS REVE                                                                           | CUSIP: 92810RAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1320000 | PA      | $1315305.68   | 0.11%             | 2052-11-01      | Floating      | 3.50%                 | No            |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority                                            | CSCDA CMNTY IMPT AUTH CA ESSENTIAL HSG REVENUE                                                                                         | CUSIP: 126292BS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $782275.60    | 0.07%             | 2043-07-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| American Municipal Power Inc                                                     | AMERICAN MUNI PWR-OHIO INC OH REVENUE                                                                                                  | CUSIP: 02765UPV0<br>LEI: EARKGGZJJEMVD66XQ486 | Long             | DBT              | MUN               | US        |   3085000 | PA      | $3354294.89   | 0.29%             | 2036-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hong Kong Futures Exchange Ltd.                                                  | HANG SENG IDX FUT JAN23                                                                                                                | CUSIP: 000000000<br>LEI: 213800YTVSXYQN17BW16 | N/A              | DE               |  | HK        |        10 | NC      | $7268.46      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| North St Paul-Maplewood-Oakdale Independent School District No 622               | N SAINT PAUL-MAPLEWOOD-OAKDALE MN INDEP SCH DIST #622                                                                                  | CUSIP: 662152EY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1706643.00   | 0.15%             | 2039-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| OCHSNER LSU HEALTH SYST                                                          | Ochsner LSU Health System of North Louisiana                                                                                           | CUSIP: 67555JAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1445180.00   | 0.12%             | 2031-05-15      | Fixed         | 2.51%                 | No            |                  2 | On Loan: No      |
| California State University                                                      | CALIFORNIA ST UNIV REVENUE                                                                                                             | CUSIP: 13077DQP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $739714.70    | 0.06%             | 2035-11-01      | Fixed         | 2.37%                 | No            |                  2 | On Loan: No      |
| State of Illinois Sales Tax Revenue                                              | ILLINOIS ST SALES TAX REVENUE                                                                                                          | CUSIP: 452227LR0<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1340000 | PA      | $1349025.30   | 0.12%             | 2023-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                                      | VIRGINIA ST SMALL BUSINESS FING AUTH REVENUE                                                                                           | CUSIP: 928104PP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1120000 | PA      | $1144485.22   | 0.10%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Bridgeport CT                                                            | BRIDGEPORT CT                                                                                                                          | CUSIP: 108152AH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1735000 | PA      | $1892861.40   | 0.16%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                                                                                             | CUSIP: 74442PMS1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    200000 | PA      | $199871.32    | 0.02%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington State Convention Center Public Facilities District                    | WASHINGTON ST CONVENTION CENTER PUBLIC FACS DIST                                                                                       | CUSIP: 93976ACR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1960000 | PA      | $1792709.30   | 0.15%             | 2031-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Parish of St James LA                                                            | SAINT JAMES PARISH LA REVENUE                                                                                                          | CUSIP: 790103AX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $530816.85    | 0.05%             | 2040-12-01      | Floating      | 6.10%                 | No            |                  2 | On Loan: No      |
| American Municipal Power Inc                                                     | AMERICAN MUNI PWR-OHIO INC OH REVENUE                                                                                                  | CUSIP: 02765UPU2<br>LEI: EARKGGZJJEMVD66XQ486 | Long             | DBT              | MUN               | US        |   5260000 | PA      | $5807947.35   | 0.50%             | 2035-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City & County of Honolulu HI                                                     | HONOLULU CITY & CNTY HI                                                                                                                | CUSIP: 438687UJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1180000 | PA      | $1350261.85   | 0.12%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                                                         | American Airlines Inc/AAdvantage Loyalty IP Ltd                                                                                        | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    620000 | PA      | $567213.20    | 0.05%             | 2029-04-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                                 | KENTUCKY ST PUBLIC ENERGY AUTH GAS SPLY REVENUE                                                                                        | CUSIP: 74440DDS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5500000 | PA      | $5326944.15   | 0.46%             | 2052-08-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| California Community Housing Agency                                              | CALIFORNIA CMNTY HSG AGY ESSENTIAL HSG REVENUE                                                                                         | CUSIP: 13013FAM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3385000 | PA      | $2520467.95   | 0.22%             | 2047-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Great Lakes Water Authority Water Supply System Revenue                          | GREAT LAKES MI WTR AUTH WTR SPLY SYS REVENUE                                                                                           | CUSIP: 39081JBT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1745000 | PA      | $1896038.48   | 0.16%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                                           | PURCHASED USD / SOLD NZD                                                                                                               | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-72442.87    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                                 | KENTUCKY ST PUBLIC ENERGY AUTH GAS SPLY REVENUE                                                                                        | CUSIP: 74440DCZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6370000 | PA      | $6305650.26   | 0.54%             | 2050-12-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| LCH Limited                                                                      | Long: BS20V36   IRS USD R V 12MUSCPI IS20V47 CCPINFLATIONZERO / Short: BS20V36   IRS USD P F   .73500 IS20V36 CCPINFLATIONZERO         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  16190000 | OU      | $3369655.62   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue          | NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE                                                                                         | CUSIP: 64971WAH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2041632.80   | 0.18%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                        | NEW JERSEY ST ECON DEV AUTH REVENUE                                                                                                    | CUSIP: 64577BCE2<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1610000 | PA      | $1621498.62   | 0.14%             | 2023-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                            | MET TRANSPRTN AUTH NY REVENUE                                                                                                          | CUSIP: 59261AE78<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2501826.00   | 0.22%             | 2023-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                   | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE                                                                                      | CUSIP: 09182TAM9<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $987715.50    | 0.09%             | 2052-10-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| University of Michigan                                                           | UNIV OF MICHIGAN MI                                                                                                                    | CUSIP: 914455VL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    705000 | PA      | $708445.83    | 0.06%             | 2023-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                | ILLINOIS ST                                                                                                                            | CUSIP: 452152P88<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |  12010000 | PA      | $12237775.66  | 1.05%             | 2024-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH MUNI CTFS                                                                                                         | CUSIP: 63607WAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1719408 | PA      | $1667173.23   | 0.14%             | 2034-01-20      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                                                 | Fannie Mae Connecticut Avenue Securities                                                                                               | CUSIP: 30711XAM6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     58302 | PA      | $58302.49     | 0.01%             | 2024-07-25      | Floating      | 7.29%                 | No            |                  2 | On Loan: No      |
| Great Lakes Water Authority Water Supply System Revenue                          | GREAT LAKES MI WTR AUTH WTR SPLY SYS REVENUE                                                                                           | CUSIP: 39081JBR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2627995.25   | 0.23%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Great Lakes Water Authority Water Supply System Revenue                          | GREAT LAKES MI WTR AUTH WTR SPLY SYS REVENUE                                                                                           | CUSIP: 39081JBQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3095496.30   | 0.27%             | 2024-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wausau School District                                                           | WAUSAU WI SCH DIST                                                                                                                     | CUSIP: 943363QJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2180000 | PA      | $2461007.01   | 0.21%             | 2031-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. LLC                                                         | PURCHASED USD / SOLD EUR                                                                                                               | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              |  | US        |         1 | NC      | $-41308.04    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| New Jersey Turnpike Authority                                                    | NEW JERSEY ST TURNPIKE AUTH TURNPIKE REVENUE                                                                                           | CUSIP: 6461395N1<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   8955000 | PA      | $8955000.00   | 0.77%             | 2023-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                          | SOUTH CAROLINA ST PUBLIC SVC AUTH REVENUE                                                                                              | CUSIP: 837151YR4<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2839722.60   | 0.24%             | 2038-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                                                                                             | CUSIP: 74442PMP7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    770000 | PA      | $774374.76    | 0.07%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                                   | PURCHASED AUD / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | AU        |         1 | NC      | $57813.55     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Private Colleges & Universities Authority                                        | PRIV CLGS & UNIVS AUTH GA                                                                                                              | CUSIP: 74265LT57<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5087947.50   | 0.44%             | 2036-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LCH Limited                                                                      | Long: BS249D4   IRS USD R V 12MUSCPI IS249E5 CCPINFLATIONZERO / Short: BS249D4   IRS USD P F  1.73100 IS249D4 CCPINFLATIONZERO         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1130000 | OU      | $168617.16    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                      | PUERTO RICO CMWLTH                                                                                                                     | CUSIP: 74514L3H8<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    423070 | PA      | $432890.64    | 0.04%             | 2029-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                                 | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE                                                                                   | CUSIP: 709224L23<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4159544.80   | 0.36%             | 2024-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                                 | KENTUCKY ST PUBLIC ENERGY AUTH GAS SPLY REVENUE                                                                                        | CUSIP: 74440DBR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8500000 | PA      | $8421548.40   | 0.73%             | 2049-12-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                                                                                                | CUSIP: 64613CAS7<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1865000 | PA      | $2038982.31   | 0.18%             | 2034-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Irving Hospital Authority                                                        | IRVING TX HOSP AUTH                                                                                                                    | CUSIP: 463794JV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1157617.12   | 0.10%             | 2028-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                      | PUERTO RICO CMWLTH                                                                                                                     | CUSIP: 74514L3N5<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |     12626 | PA      | $9886.14      | 0.00%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | ILLINOIS ST FIN AUTH REVENUE                                                                                                           | CUSIP: 45204ET40<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   2450000 | PA      | $2638767.11   | 0.23%             | 2031-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities & Community Development Auth | LOUISIANA ST LOCAL GOVT ENVRNMNTL FACS & CMNTY DEV AUTH                                                                                | CUSIP: 546282H56<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1552281.91   | 0.13%             | 2030-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                      | PUERTO RICO CMWLTH                                                                                                                     | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |     79319 | PA      | $34702.00     | 0.00%             | 2043-11-01      | Variable      | 1.00%                 | No            |                  2 | On Loan: No      |
| Vauxmont Metropolitan District                                                   | VAUXMONT MET DIST CO                                                                                                                   | CUSIP: 92242SAS2<br>LEI: 549300M7XL6MB0OW8D56 | Long             | DBT              | MUN               | US        |    115000 | PA      | $119152.56    | 0.01%             | 2024-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                                | PHILADELPHIA PA AUTH FOR INDLDEV CITY SVC AGREEMENT REVENUE                                                                            | CUSIP: 71783DBR5<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   3205000 | PA      | $3458929.91   | 0.30%             | 2032-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Howard Bend Levee District                                                       | HOWARD BEND MO LEVEE DIST                                                                                                              | CUSIP: 442499CC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    185000 | PA      | $187592.55    | 0.02%             | 2025-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | United States Treasury Note/Bond                                                                                                       | CUSIP: 912828U57<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1698000 | PA      | $1658468.44   | 0.14%             | 2023-11-30      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Citibank N.A.                                                                    | Long: IS19KI2   IRS USD R V 03MLIBOR IS19KJ3 CPILV506024 / Short: IS19KI2   IRS USD P F  1.90000 IS19KI2 CPILV506024                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DIR              |  | US        |  22000000 | OU      | $2699353.58   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                                 | Long: IS0XPM4   IRS USD R V 12MLIBOR IS0XPN5 CPILV503714 / Short: IS0XPM4   IRS USD P F  1.81750 IS0XPM4 CPILV503714                   | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DIR              |  | US        |  10000000 | OU      | $1255622.10   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| City of Fort Wayne IN                                                            | FORT WAYNE IN ECON DEV SOLID WST FAC REVENUE                                                                                           | CUSIP: 34924CAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $113273.56    | 0.01%             | 2029-12-01      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| Brown Brothers Harriman & Co.                                                    | PURCHASED USD / SOLD CAD                                                                                                               | CUSIP: 000000000<br>LEI: 5493006KMX1VFTPYPW14 | N/A              | DFE              |  | US        |         1 | NC      | $-6681.11     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Bank USA N.A.                                                               | PURCHASED USD / SOLD EUR                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | US        |         1 | NC      | $-215321.58   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                             | COLORADO ST HLTH FACS AUTH REVENUE                                                                                                     | CUSIP: 19648FJT2<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    845000 | PA      | $895494.16    | 0.08%             | 2033-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                                      | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE                                                                                      | CUSIP: 56035DAK8<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   6465000 | PA      | $6462960.94   | 0.56%             | 2048-04-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency Inc                                                         | CAPITAL TRUST AGY FL EDUCTNL FACS LEASE REVENUE                                                                                        | CUSIP: 14054DAB3<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    385000 | PA      | $381865.14    | 0.03%             | 2024-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                                 | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE                                                                                   | CUSIP: 709224N47<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2650000 | PA      | $2930413.46   | 0.25%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                                | Long: IS0QGN1   IRS USD R V 12MLIBOR IS0QGO2 CPI SWAP 10212014 06 / Short: IS0QGN1   IRS USD P F  2.38800 IS0QGN1 CPI SWAP 10212014 06 | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DIR              |  | US        |  10000000 | OU      | $484637.10    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                      | PUERTO RICO CMWLTH                                                                                                                     | CUSIP: 74514L3P0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |     13131 | PA      | $9844.14      | 0.00%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                                | PHILADELPHIA PA AUTH FOR INDL DEV CHRT SCH REVENUE                                                                                     | CUSIP: 71780CBB5<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    880000 | PA      | $909089.81    | 0.08%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HSBC Bank USA N.A.                                                               | PURCHASED CHF / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | CH        |         1 | NC      | $-8255.77     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority                                            | CSCDA CMNTY IMPT AUTH CA ESSENTIAL HSG REVENUE                                                                                         | CUSIP: 126292BP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $1960022.50   | 0.17%             | 2047-05-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                       | MICHIGAN ST FIN AUTH REVENUE                                                                                                           | CUSIP: 59447TXA6<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4917302.50   | 0.42%             | 2049-09-01      | Floating      | 2.37%                 | No            |                  2 | On Loan: No      |
| Kentucky Economic Development Finance Authority                                  | KENTUCKY ST ECON DEV FIN AUTH                                                                                                          | CUSIP: 49126KJU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4265000 | PA      | $4485178.49   | 0.39%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Territory of Guam                                                                | GUAM GOVT                                                                                                                              | CUSIP: 40065BCQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $189460.12    | 0.02%             | 2031-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Limited                                                                      | Long: SS2CQK4   IRS USD R F  3.72000 IS2CQK4 CCPINFLATIONZERO / Short: SS2CQK4   IRS USD P V 12MUSCPI IS2CQL5 CCPINFLATIONZERO         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  11470000 | OU      | $-325351.71   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Central Plains Energy Project                                                    | CENTRL PLAINS ENERGY PROJ NE GAS PROJ REVENUE                                                                                          | CUSIP: 154871CT2<br>LEI: SVQOT7V5CPLIGNP5BE29 | Long             | DBT              | MUN               | US        |  17000000 | PA      | $17160167.20  | 1.48%             | 2050-03-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Limited                                                                      | Long: BS23W54   IRS USD R V 12MUSCPI IS23W65 CCPINFLATIONZERO / Short: BS23W54   IRS USD P F  1.58700 IS23W54 CCPINFLATIONZERO         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   5125000 | OU      | $831256.24    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Eurex Deutschland                                                                | EURO STOXX 50 MAR23                                                                                                                    | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               |  | DE        |       116 | NC      | $-186453.43   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| BELLEMEADE RE LT                                                                 | Bellemeade Re 2018-1 Ltd                                                                                                               | CUSIP: 078768AE8<br>LEI: 549300O2GEH6GH9NO762 | Long             | ABS-MBS          | CORP              | BM        |    104836 | PA      | $104596.55    | 0.01%             | 2028-04-25      | Floating      | 7.29%                 | No            |                  2 | On Loan: No      |
| Kentucky Economic Development Finance Authority                                  | KENTUCKY ST ECON DEV FIN AUTH                                                                                                          | CUSIP: 49126KJZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6195000 | PA      | $6487301.16   | 0.56%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                    | MASSACHUSETTS ST SPL OBLG REVENUE                                                                                                      | CUSIP: 576004HG3<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1930940.40   | 0.17%             | 2031-07-15      | Fixed         | 4.11%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                             | COLORADO ST HLTH FACS AUTH REVENUE                                                                                                     | CUSIP: 19648FKN3<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   8975000 | PA      | $9356424.94   | 0.81%             | 2036-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                                                         | American Airlines Inc/AAdvantage Loyalty IP Ltd                                                                                        | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    700000 | PA      | $673162.00    | 0.06%             | 2026-04-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LCH Limited                                                                      | Long: BS23XF1   IRS USD R V 12MUSCPI IS23XG2 CCPINFLATIONZERO / Short: BS23XF1   IRS USD P F  1.57200 IS23XF1 CCPINFLATIONZERO         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   5125000 | OU      | $838135.73    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| County of Osceola FL Transportation Revenue                                      | OSCEOLA CNTY FL TRANSPRTN REVENUE                                                                                                      | CUSIP: 688031EM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $62245.62     | 0.01%             | 2032-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HTA TRRB Custodial Trust                                                         | HTA TRRB-2007N-745190ZS0 ASSURED CUSTODIAL TR                                                                                          | CUSIP: 40445GAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1110000 | PA      | $1103001.56   | 0.10%             | 2036-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| North Broward Hospital District                                                  | NORTH BROWARD FL HOSP DIST                                                                                                             | CUSIP: 657883DE1<br>LEI: 549300HZL14T4Q7UDP41 | Long             | DBT              | MUN               | US        |   3590000 | PA      | $3770961.49   | 0.32%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                                    | PURCHASED USD / SOLD NOK                                                                                                               | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |         1 | NC      | $-2698.76     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Snohomish & Island Counties School District No 401 Stanwood-Camano               | SNOHOMISH & ISLAND CNTYS WA SCH DIST #401 STANWOOD                                                                                     | CUSIP: 833068NF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1109142.10   | 0.10%             | 2027-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                                                                                             | CUSIP: 74442PML6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    195000 | PA      | $195576.81    | 0.02%             | 2023-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | ILLINOIS ST FIN AUTH REVENUE                                                                                                           | CUSIP: 45204EL63<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |  20130000 | PA      | $21537646.61  | 1.86%             | 2032-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| St Lucie County School Board                                                     | SAINT LUCIE CNTY FL SCH DIST SALES TAX REVENUE                                                                                         | CUSIP: 79207QCS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1565000 | PA      | $1586158.96   | 0.14%             | 2023-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                                           | US 2YR NOTE (CBT) MAR23                                                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        83 | NC      | $21536.79     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI HOSP REVENUE                                                                                                        | CUSIP: 74442CDP6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $908981.10    | 0.08%             | 2040-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | ILLINOIS ST FIN AUTH REVENUE                                                                                                           | CUSIP: 45204E6R4<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    100000 | PA      | $103174.83    | 0.01%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| iShares Core MSCI EAFE ETF                                                       | iShares Core MSCI EAFE ETF                                                                                                             | CUSIP: 46432F842<br>LEI: 5493009FT582MI7Y3I36 | Long             | EC               | RF                | US        |   1670856 | NS      | $102991563.84 | 8.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                                                                   | Long: SELS02859 TRS CHF R F   .00000 SELS02859/SMH3 / Short: SELS02859 TRS CHF P E SELS02859/ZERO RATE                                 | CUSIP: 000000000<br>LEI: IGJSJL3JD5P30I6NJZ34 | N/A              | DE               |  | CH        |   1863607 | OU      | $56331.93     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                                           | General Motors Financial Co Inc                                                                                                        | CUSIP: 37045XDT0<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1948720.00   | 0.17%             | 2025-04-07      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| Credit Suisse International                                                      | Long: IS1PDS1   CDS USD R F  3.00000 IS1PDS1 CMBX / Short: IS1PDS1   CDS USD P V 01MEVENT IS1PDT2 CMBX                                 | CUSIP: 000000000<br>LEI: E58DKGMJYYYJLN8C3868 | N/A              | DCR              |  | GB        |       634 | OU      | $-154.98      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State of North Carolina                                                          | NORTH CAROLINA ST GRANT ANTICIPATION REVENUE                                                                                           | CUSIP: 658268DD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1850000 | PA      | $1938519.73   | 0.17%             | 2026-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank N.A.                                                         | PURCHASED GBP / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | GB        |         1 | NC      | $32464.59     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH MUNI CTFS                                                                                                         | CUSIP: 63607WAE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1993992 | PA      | $1856405.05   | 0.16%             | 2036-10-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LCH Limited                                                                      | Long: BS2BFX7   IRS USD R V 12MUSCPI IS2BFY8 CCPINFLATIONZERO / Short: BS2BFX7   IRS USD P F  2.78200 IS2BFX7 CCPINFLATIONZERO         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   4400000 | OU      | $270802.84    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                                                                                             | CUSIP: 74442PMR3<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    440000 | PA      | $441054.33    | 0.04%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Iowa Finance Authority                                                           | IOWA ST FIN AUTH MIDWSTRN DISASTER AREA REVENUE                                                                                        | CUSIP: 46246SAW5<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $956489.40    | 0.08%             | 2050-12-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. LLC                                                         | PURCHASED USD / SOLD JPY                                                                                                               | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              |  | US        |         1 | NC      | $-115217.77   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| iShares Core MSCI Emerging Markets ETF                                           | iShares Core MSCI Emerging Markets ETF                                                                                                 | CUSIP: 46434G103<br>LEI: 5493007C24Z3ZDJ0VD06 | Long             | EC               | RF                | US        |    950834 | NS      | $44403947.80  | 3.82%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS AG                                                                           | AL31405 ALLIANCE                                                                                                                       | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DE               |  | US        |      8070 | NC      | $748535.91    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Bank USA N.A.                                                               | PURCHASED USD / SOLD AUD                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | US        |         1 | NC      | $-241344.49   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| State of Florida Department of Transportation Turnpike System Revenue            | FLORIDA ST TURNPIKE AUTH                                                                                                               | CUSIP: 3431367F8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3795000 | PA      | $3916365.62   | 0.34%             | 2024-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | ILLINOIS ST FIN AUTH REVENUE                                                                                                           | CUSIP: 45204E6Y9<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    100000 | PA      | $101756.07    | 0.01%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Parish of St James LA                                                            | SAINT JAMES PARISH LA REVENUE                                                                                                          | CUSIP: 790103AY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    435000 | PA      | $445150.42    | 0.04%             | 2041-08-01      | Floating      | 5.85%                 | No            |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority                                            | CSCDA CMNTY IMPT AUTH CA ESSENTIAL HSG REVENUE                                                                                         | CUSIP: 126292BE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $757302.00    | 0.07%             | 2046-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Texas A&M University                                                             | TEXAS ST A & M UNIV REVENUE                                                                                                            | CUSIP: 8821356L5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3950000 | PA      | $3979527.04   | 0.34%             | 2023-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Corpus Christi TX Utility System Revenue                                 | CORPUS CHRISTI TX UTILITY SYSREVENUE                                                                                                   | CUSIP: 220245XC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1030000 | PA      | $1086182.48   | 0.09%             | 2026-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Corpus Christi TX Utility System Revenue                                 | CORPUS CHRISTI TX UTILITY SYSREVENUE                                                                                                   | CUSIP: 220245WD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1290000 | PA      | $1330861.27   | 0.11%             | 2024-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Connecticut                                                             | CONNECTICUT ST                                                                                                                         | CUSIP: 20772JV25<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |   3060000 | PA      | $3138424.43   | 0.27%             | 2024-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port of Portland OR Airport Revenue                                              | PORT OF PORTLAND OR ARPT REVENUE                                                                                                       | CUSIP: 7352402N2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2800504.20   | 0.24%             | 2040-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HTA TRRB Custodial Trust                                                         | HTA TRRB 2005L-745190UR7 ASSURED CUSTODIAL TRUST                                                                                       | CUSIP: 40444FAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    905000 | PA      | $898020.73    | 0.08%             | 2041-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Port of Seattle WA                                                               | PORT OF SEATTLE WA REVENUE                                                                                                             | CUSIP: 735389C89<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   1875000 | PA      | $1983162.94   | 0.17%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Kansas City MO                                                           | KANSAS CITY MO SPL OBLG                                                                                                                | CUSIP: 485106ZA9<br>LEI: 549300EGAE3I3XU7XE19 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1621737.15   | 0.14%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Allegheny County Sanitary Authority                                              | ALLEGHENY CNTY PA SAN AUTH                                                                                                             | CUSIP: 017357YU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4365000 | PA      | $4446814.07   | 0.38%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority Aviation Revenue                      | MET WASHINGTON DC ARPTS AUTH ARPT SYS REVENUE                                                                                          | CUSIP: 592647FD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1910000 | PA      | $2041560.80   | 0.18%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank N.A.                                                         | PURCHASED USD / SOLD NOK                                                                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |         1 | NC      | $-55159.52    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                             | CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE                                                                                           | CUSIP: 167593V58<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1275000 | PA      | $1246086.19   | 0.11%             | 2039-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of North Carolina                                                          | NORTH CAROLINA ST GRANT ANTICIPATION REVENUE                                                                                           | CUSIP: 658268DA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3510585.05   | 0.30%             | 2023-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port of Seattle WA                                                               | PORT OF SEATTLE WA REVENUE                                                                                                             | CUSIP: 735389C63<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   6500000 | PA      | $6893705.00   | 0.59%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                              | NEW YORK NY                                                                                                                            | CUSIP: 64966QZY9<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   3385000 | PA      | $2893251.23   | 0.25%             | 2027-08-01      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| City of Detroit MI                                                               | DETROIT MI                                                                                                                             | CUSIP: 2510933G3<br>LEI: 549300BQRJP7MKKHOY28 | Long             | DBT              | MUN               | US        |   2475000 | PA      | $2569088.86   | 0.22%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI HOSP REVENUE                                                                                                        | CUSIP: 74442CDM3<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $925433.60    | 0.08%             | 2038-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority                                            | CSCDA CMNTY IMPT AUTH CA ESSENTIAL HSG REVENUE                                                                                         | CUSIP: 126292AN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $749131.10    | 0.06%             | 2045-07-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                      | PUERTO RICO CMWLTH                                                                                                                     | CUSIP: 74514L3K1<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    312038 | PA      | $270555.57    | 0.02%             | 2033-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LCH Limited                                                                      | Long: SS2EQS8   IRS USD R F  3.73500 IS2EQS8 CCPINFLATIONZERO / Short: SS2EQS8   IRS USD P V 12MUSCPI IS2EQT9 CCPINFLATIONZERO         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   5860000 | OU      | $57280.39     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State of Wisconsin                                                               | WISCONSIN ST                                                                                                                           | CUSIP: 97705MTB1<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1616179.18   | 0.14%             | 2033-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Moon Industrial Development Authority                                            | MOON INDL DEV AUTH PA REVENUE                                                                                                          | CUSIP: 61543RAQ9<br>LEI: 549300CGX4T1GTNHL435 | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1551191.20   | 0.13%             | 2025-07-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| City of San Antonio TX Electric & Gas Systems Revenue                            | SAN ANTONIO TX ELEC & GAS REVENUE                                                                                                      | CUSIP: 79625GDQ3<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1922706.98   | 0.17%             | 2037-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Johnstown Plaza Metropolitan District                                            | JOHNSTOWN PLAZA MET DIST CO                                                                                                            | CUSIP: 479706AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    488000 | PA      | $383603.18    | 0.03%             | 2046-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                                                                                                | CUSIP: 6461365F4<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1570000 | PA      | $1668177.44   | 0.14%             | 2034-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI HOSP REVENUE                                                                                                        | CUSIP: 74442CED2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1067545.30   | 0.09%             | 2032-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                                     | MISSISSIPPI ST DEV BANK SPL OBLG                                                                                                       | CUSIP: 60534WCW6<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |   3695000 | PA      | $3699690.80   | 0.32%             | 2023-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Florida                                                                 | FLORIDA ST BRD OF EDU PUBLIC EDU                                                                                                       | CUSIP: 34153QGL4<br>LEI: 5493004G5XFOOUT0LQ57 | Long             | DBT              | MUN               | US        |   1310000 | PA      | $1322012.31   | 0.11%             | 2023-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Infirmary Health System Special Care Facilities Financing Authority of Mobile    | INFIRMARY HLTH SYS AL SPL CARE FACS FING AUTH REVENUE                                                                                  | CUSIP: 45663NCA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $934527.20    | 0.08%             | 2040-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                                      | S+P500 EMINI FUT MAR23                                                                                                                 | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |       204 | NC      | $-1061911.07  | -0.09%            |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC                                                         | PURCHASED USD / SOLD CHF                                                                                                               | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              |  | US        |         1 | NC      | $-243843.52   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Limited                                                                      | Long: BS281O1   IRS USD R V 12MUSCPI IS281P2 CCPINFLATIONZERO / Short: BS281O1   IRS USD P F  2.56500 IS281O1 CCPINFLATIONZERO         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   4710000 | OU      | $411720.83    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| CATERPILLAR FINL SERVICE                                                         | Caterpillar Financial Services Corp                                                                                                    | CUSIP: 14913R2R7<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1787778.00   | 0.15%             | 2024-09-13      | Floating      | 4.56%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                           | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE                                                                                      | CUSIP: 74529JQB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1021000 | PA      | $952407.99    | 0.08%             | 2024-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Bank of America N.A.                                                             | PURCHASED USD / SOLD GBP                                                                                                               | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | US        |         1 | NC      | $-411022.35   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Vanguard Mid-Cap ETF                                                             | Vanguard Mid-Cap ETF                                                                                                                   | CUSIP: 922908629<br>LEI: F7RXEPKL33W3OZ8V3S02 | Long             | EC               | RF                | US        |     68109 | NS      | $13881295.29  | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| City Of South Miami Health Facilities Authority Inc                              | S MIAMI FL HLTH FACS AUTH                                                                                                              | CUSIP: 838810DU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2152568.40   | 0.19%             | 2030-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                             | COLORADO ST HLTH FACS AUTH REVENUE                                                                                                     | CUSIP: 19648FJU9<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1581576.30   | 0.14%             | 2034-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Parish of St John the Baptist LA                                                 | SAINT JOHN THE BAPTIST PARISH LA REVENUE                                                                                               | CUSIP: 79020FAX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1570000 | PA      | $1520824.62   | 0.13%             | 2037-06-01      | Floating      | 2.10%                 | No            |                  2 | On Loan: No      |
| Bank of America N.A.                                                             | PURCHASED USD / SOLD GBP                                                                                                               | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | US        |         1 | NC      | $10198.44     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE                                                                                   | CUSIP: 64990EQQ3<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   8340000 | PA      | $8545795.34   | 0.74%             | 2029-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Bridgeport CT                                                            | BRIDGEPORT CT                                                                                                                          | CUSIP: 108152AL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2015000 | PA      | $2196735.47   | 0.19%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sumter County Industrial Development Authority/AL                                | SUMTER CNTY AL INDL DEV AUTH EXEMPT FACS REVENUE                                                                                       | CUSIP: 86651LAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1134969.13   | 0.10%             | 2052-07-15      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| City of Bridgeport CT                                                            | BRIDGEPORT CT                                                                                                                          | CUSIP: 108152AM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1456421.59   | 0.13%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                            | MET TRANSPRTN AUTH NY REVENUE                                                                                                          | CUSIP: 59261AQA8<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   4340000 | PA      | $4492917.73   | 0.39%             | 2030-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Comanche County Hospital Authority                                               | COMANCHE CNTY OK HOSP AUTH REVENUE                                                                                                     | CUSIP: 199875HK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003225.10   | 0.09%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | ILLINOIS ST FIN AUTH REVENUE                                                                                                           | CUSIP: 45204E6M5<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100479.39    | 0.01%             | 2023-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HSBC Bank USA N.A.                                                               | PURCHASED USD / SOLD NZD                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | US        |         1 | NC      | $9115.30      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank N.A.                                                                    | PURCHASED USD / SOLD CAD                                                                                                               | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |         1 | NC      | $-5879.81     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                       | MICHIGAN ST FIN AUTH REVENUE                                                                                                           | CUSIP: 59447PZF1<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |  10115000 | PA      | $10407056.46  | 0.90%             | 2024-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                                     | MISSISSIPPI DEV BK SPL OBLIG                                                                                                           | CUSIP: 60534XLT1<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $979547.47    | 0.08%             | 2035-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue          | NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE                                                                                         | CUSIP: 64971WBB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1155000 | PA      | $1184988.42   | 0.10%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                   | Long: SELS94518 TRS CHF R F   .00000 SELS94518/SMH3 / Short: SELS94518 TRS CHF P E SELS94518 SELS10594518                              | CUSIP: 000000000<br>LEI: IGJSJL3JD5P30I6NJZ34 | N/A              | DE               |  | CH        |    109624 | OU      | $3313.64      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Via Metropolitan Transit                                                         | VIA MET TRANSIT AUTH TX SALES TAX REVENUE                                                                                              | CUSIP: 92555RAG1<br>LEI: 549300JAPHDC9HLZQY91 | Long             | DBT              | MUN               | US        |   2580000 | PA      | $2657416.51   | 0.23%             | 2024-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Cuyahoga OH                                                            | CUYAHOGA CNTY OH HOSP REVENUE                                                                                                          | CUSIP: 2322655F1<br>LEI: 549300GHDK9DGLUNJU89 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1548697.05   | 0.13%             | 2025-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Comanche County Hospital Authority                                               | COMANCHE CNTY OK HOSP AUTH REVENUE                                                                                                     | CUSIP: 199875HM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001641.30   | 0.09%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Atlanta GA Department of Aviation                                        | ATLANTA GA ARPT REVENUE                                                                                                                | CUSIP: 04780MXU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    640000 | PA      | $727118.14    | 0.06%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                        | INDIANA ST FIN AUTH HOSP REVENUE                                                                                                       | CUSIP: 45471ANY4<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2975041.50   | 0.26%             | 2040-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                                 | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE                                                                                   | CUSIP: 709224A41<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2751351.00   | 0.24%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Limited                                                                      | Long: SS2APJ0   IRS USD R F  2.72150 IS2APJ0 CCPINFLATIONZERO / Short: SS2APJ0   IRS USD P V 12MUSCPI IS2APK1 CCPINFLATIONZERO         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   2000000 | OU      | $-122123.74   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Michigan Strategic Fund                                                          | MICHIGAN ST STRATEGIC FUND LTD OBLG REVENUE                                                                                            | CUSIP: 594698QP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1090000 | PA      | $1122733.14   | 0.10%             | 2033-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                         | ARIZONA ST INDL DEV AUTH NATIONAL CHRT SCH REVOLVING LOAN FD                                                                           | CUSIP: 04052FBR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $563092.32    | 0.05%             | 2038-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                              | NEW YORK NY                                                                                                                            | CUSIP: 64966LV65<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   7220000 | PA      | $7303180.18   | 0.63%             | 2023-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Parish of St John the Baptist LA                                                 | SAINT JOHN THE BAPTIST PARISH LA REVENUE                                                                                               | CUSIP: 79020FAW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4885000 | PA      | $4854832.68   | 0.42%             | 2037-06-01      | Floating      | 2.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                                                                                                | CUSIP: 6461364L2<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   3075000 | PA      | $3341375.26   | 0.29%             | 2029-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. LLC                                                         | PURCHASED CAD / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              |  | CA        |         1 | NC      | $28186.81     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank N.A.                                                                    | PURCHASED EUR / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | XX        |         1 | NC      | $6224.29      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Metropolitan Nashville Airport Authority/The                                     | MET NASHVILLE TN ARPT AUTH ARPT REVENUE                                                                                                | CUSIP: 592190NX6<br>LEI: 549300IC0HNF8TDXEE63 | Long             | DBT              | MUN               | US        |   1205000 | PA      | $1299484.17   | 0.11%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City Of South Miami Health Facilities Authority Inc                              | S MIAMI FL HLTH FACS AUTH                                                                                                              | CUSIP: 838810DQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3550000 | PA      | $3815628.40   | 0.33%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BAYLOR SCOTT & WHITE HOL                                                         | Baylor Scott & White Holdings                                                                                                          | CUSIP: 072863AG8<br>LEI: 549300JQDKSBWYRGGV95 | Long             | DBT              | CORP              | US        |   1075000 | PA      | $951998.50    | 0.08%             | 2025-11-15      | Fixed         | 0.83%                 | No            |                  2 | On Loan: No      |
| Citibank N.A.                                                                    | PURCHASED NOK / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | NO        |         1 | NC      | $24393.59     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ASX Clear (Futures)                                                              | SPI 200 FUTURES MAR23                                                                                                                  | CUSIP: 000000000<br>LEI: 549300ZD7BBOVZFVHK49 | N/A              | DE               |  | AU        |       -77 | NC      | $206109.53    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase Bank N.A.                                                         | Long: IS1FYQ6   IRS USD R V 12MUSCPI IS1FYR7 INFLATIONZERO / Short: IS1FYQ6   IRS USD P F  1.99500 IS1FYQ6 INFLATIONZERO               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DIR              |  | US        |  33000000 | OU      | $3700644.09   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Credit Suisse International                                                      | Long: IS1NQY2   CDS USD R F  3.00000 IS1NQY2 CMBX / Short: IS1NQY2   CDS USD P V 01MEVENT IS1NQZ3 CMBX                                 | CUSIP: 000000000<br>LEI: E58DKGMJYYYJLN8C3868 | N/A              | DCR              |  | GB        |    419438 | OU      | $-102601.44   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| State of Colorado                                                                | COLORADO ST COPS                                                                                                                       | CUSIP: 196711UZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3520203.90   | 0.30%             | 2041-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| State of Wisconsin                                                               | WISCONSIN ST                                                                                                                           | CUSIP: 97705MTD7<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |    750000 | PA      | $850872.90    | 0.07%             | 2035-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                      | PUERTO RICO CMWLTH                                                                                                                     | CUSIP: 74514L3R6<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    325491 | PA      | $175947.61    | 0.02%             | 2033-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                                                                                                  | CUSIP: 167505WZ5<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    270000 | PA      | $276686.36    | 0.02%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                                      | E-MINI RUSS 2000 MAR23                                                                                                                 | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |       122 | NC      | $-402571.69   | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| City of New York NY                                                              | NEW YORK NY                                                                                                                            | CUSIP: 64966QXM7<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2544441.25   | 0.22%             | 2035-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp                                                | NEW YORK ST LIBERTY DEV CORP LIBERTY REVENUE                                                                                           | CUSIP: 649519DF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    855000 | PA      | $765890.62    | 0.07%             | 2069-09-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| American Samoa Economic Development Authority                                    | AMERICAN SAMOA AS ECON DEV AUTH GEN REVENUE                                                                                            | CUSIP: 02936TAF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $430054.60    | 0.04%             | 2028-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Franklin County School District No 1 Pasco                                       | FRANKLIN CNTY WA SCH DIST #1 PASCO                                                                                                     | CUSIP: 353442ZY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8615000 | PA      | $8983123.26   | 0.77%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI EXEMPT FACS REVENUE                                                                                                 | CUSIP: 74443QAC6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2510000 | PA      | $2515939.92   | 0.22%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Turnpike Authority                                                    | NEW JERSEY ST TURNPIKE AUTH TURNPIKE REVENUE                                                                                           | CUSIP: 646140DS9<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   1225000 | PA      | $1018320.08   | 0.09%             | 2029-01-01      | Fixed         | 1.71%                 | No            |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority                                            | CSCDA CMNTY IMPT AUTH CA ESSENTIAL HSG REVENUE                                                                                         | CUSIP: 126292BL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1372133.24   | 0.12%             | 2047-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Howard Bend Levee District                                                       | HOWARD BEND MO LEVEE DIST                                                                                                              | CUSIP: 442499CE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $157874.97    | 0.01%             | 2027-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Citibank N.A.                                                                    | PURCHASED CAD / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | CA        |         1 | NC      | $-77095.39    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| City of Bridgeport CT                                                            | BRIDGEPORT CT                                                                                                                          | CUSIP: 108152AG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1790413.85   | 0.15%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas Private Activity Bond Surface Transportation Corp                          | TEXAS ST PRIV ACTIVITY BOND SURFACE TRANSPRTN CORP REVENUE                                                                             | CUSIP: 882667AJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1880000 | PA      | $1882801.76   | 0.16%             | 2040-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                      | PUERTO RICO CMWLTH                                                                                                                     | CUSIP: 74514L3F2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    423407 | PA      | $426598.73    | 0.04%             | 2025-07-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| LCH Limited                                                                      | Long: BS2CZ96   IRS USD R V 12MUSCPI IS2CZA7 CCPINFLATIONZERO / Short: BS2CZ96   IRS USD P F  2.98850 IS2CZ96 CCPINFLATIONZERO         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   3500000 | OU      | $145257.38    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                      | PUERTO RICO CMWLTH                                                                                                                     | CUSIP: 74514L3L9<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |     10820 | PA      | $9105.99      | 0.00%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                                     | MISSISSIPPI ST DEV BANK SPL OBLG                                                                                                       | CUSIP: 60534WCN6<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |   1720000 | PA      | $1722183.54   | 0.15%             | 2023-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                             | CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE                                                                                           | CUSIP: 167593RA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11425000 | PA      | $11653446.30  | 1.00%             | 2024-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                          | SOUTH CAROLINA ST PUBLIC SVC AUTH REVENUE                                                                                              | CUSIP: 837151XC8<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1824699.20   | 0.16%             | 2042-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Ashland KY                                                               | ASHLAND KY MED CENTER REVENUE                                                                                                          | CUSIP: 044293BS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $167394.75    | 0.01%             | 2030-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Coatesville School District                                                      | COATESVILLE PA AREA SCH DIST                                                                                                           | CUSIP: 190684PL8<br>LEI: 549300FB4I8E5MPRFX97 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1263542.13   | 0.11%             | 2023-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Tempe AZ                                                                 | TEMPE AZ COPS                                                                                                                          | CUSIP: 87971LAQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1475000 | PA      | $1098313.76   | 0.09%             | 2033-07-01      | Fixed         | 2.17%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                                                 | Fannie Mae Connecticut Avenue Securities                                                                                               | CUSIP: 30711XCB8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     50126 | PA      | $51829.54     | 0.00%             | 2028-09-25      | Floating      | 10.39%                | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                                                                                                | CUSIP: 6461365X5<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1328166.75   | 0.11%             | 2034-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                                                                                                  | CUSIP: 167505XB7<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    200000 | PA      | $204144.78    | 0.02%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

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

**Name of Applicant:** BERNSTEIN SANFORD C FUND INC

**Signature:** Joseph Mantineo

**Name of Signer:** Joseph Mantineo

**Title:** Treasurer and Chief Financial Officer