# EDGAR Filing Document

**Accession Number:** 0001100663
**File Stem:** 0002071691-25-002316
**Filing Date:** 2025-9
**Character Count:** 123334
**Document Hash:** e1563667d66b466575f7ad0e3aebeed2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-002316.hdr.sgml**: 20250926

**ACCESSION NUMBER**: 0002071691-25-002316

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250926

**DATE AS OF CHANGE**: 20250926

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** iSHARES TRUST
- **CENTRAL INDEX KEY:** 0001100663

**ORGANIZATION NAME:**
- **EIN:** 943351276
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09729
- **FILM NUMBER:** 251347010

**BUSINESS ADDRESS:**
- **STREET 1:** 400 HOWARD STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105
- **BUSINESS PHONE:** (415) 670-2000

**MAIL ADDRESS:**
- **STREET 1:** 400 HOWARD STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ISHARES TRUST
- **DATE OF NAME CHANGE:** 19991213

## Series and Classes Contracts Data

### iShares iBonds Dec 2031 Term Muni Bond ETF (Series ID: S000090637)

| Class ID   | Class Name                                 | Ticker Symbol   |
|:---|:---|:---|
| C000257913 | iShares iBonds Dec 2031 Term Muni Bond ETF | IBMT            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** iShares Trust

- **b. Investment Company Act file number:** 811-09729

- **c. CIK number of Registrant:** 0001100663

- **d. LEI of Registrant:** 5493000860OXIC4B5K91

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

  - **Street Address 1:** 400 Howard Street

  - **City:** San Francisco

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94105

  - **Telephone number:** 800-474-2737

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

- **a. Name of Series:** iShares iBonds Dec 2031 Term Muni Bond ETF

- **b. EDGAR series identifier (if any):** S000090637

- **c. LEI of Series:** 529900MRR88SDSYKJ172

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

- **a. Date of fiscal year-end:** 2025-10-31

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $8886511.47

**Total Liabilities:** $1240.74

**Net Assets:** $8885270.73

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 4671.98000000 | **10-Year:** 93.85000000 | **30-Year:** 0.00000000

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000257913 | 0.88%                | 1.14%                | 0.41%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $22761.96                                  |
| Month 2  | $-11.90                  | $61660.18                                  |
| Month 3  | $-1.55                   | $14702.43                                  |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                                                       | Title                                                                                       | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| City & County of Honolulu                                                  | City & County of Honolulu, Series 2021A                                                     | CUSIP: 438687QU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $27995.84     | 0.32%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of King                                                             | County of King, Series 2021A                                                                | CUSIP: 49474FZQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $27883.49     | 0.31%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia                                                       | City of Philadelphia, Series 2021A                                                          | CUSIP: 717813YT0<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |     30000 | PA      | $32904.80     | 0.37%             | 2032-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bay Area Toll Authority                                                    | Bay Area Toll Authority, Series 2025SSL-2                                                   | CUSIP: 072024K84<br>LEI: 5493001FUZGUQMIP5D78 | Long             | DBT              | MUN               | US        |    100000 | PA      | $113304.18    | 1.28%             | 2031-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Valley Water Reclamation Facility                                  | Central Valley Water Reclamation Facility, Series 2021C                                     | CUSIP: 155796BE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $27870.66     | 0.31%             | 2031-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Long Island Power Authority                                                | Long Island Power Authority, Series 2021A                                                   | CUSIP: 542691EP1<br>LEI: 1R46U5SYJ63KQXF39168 | Long             | DBT              | MUN               | US        |     55000 | PA      | $59349.85     | 0.67%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lansing School District                                                    | Lansing School District, Series 2019II                                                      | CUSIP: 516444SD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $48316.71     | 0.54%             | 2031-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                       | District of Columbia, Series 2024C                                                          | CUSIP: 25476FH92<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |     50000 | PA      | $56139.91     | 0.63%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                                    | Port Authority of New York & New Jersey, Series 230                                         | CUSIP: 73358XEC2<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |     15000 | PA      | $14953.96     | 0.17%             | 2031-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Pennsylvania                                               | Commonwealth of Pennsylvania, Series 2024-1                                                 | CUSIP: 70914P3V2<br>LEI: 549300WICSGUHKHF1T85 | Long             | DBT              | MUN               | US        |     60000 | PA      | $67297.54     | 0.76%             | 2031-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Oregon                                                            | State of Oregon, Series 2023A                                                               | CUSIP: 68609UBY0<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |     20000 | PA      | $22386.20     | 0.25%             | 2031-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indianapolis Local Public Improvement Bond Bank                            | Indianapolis Local Public Improvement Bond Bank, Series 2021A                               | CUSIP: 45528US77<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |     40000 | PA      | $43338.66     | 0.49%             | 2033-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                          | State of Illinois, Series 2024B                                                             | CUSIP: 452153JN0<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |     70000 | PA      | $75920.78     | 0.85%             | 2031-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Weld County School District No. 6 Greeley                                  | Weld County School District No. 6 Greeley, Series 2021                                      | CUSIP: 949289QH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $44577.95     | 0.50%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Atlanta Water & Wastewater                                         | City of Atlanta Department of Aviation, Series 2021B                                        | CUSIP: 04780MYT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $33494.60     | 0.38%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Utah (The)                                                   | University of Utah (The), Series 2022B                                                      | CUSIP: 915183Y92<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $22402.41     | 0.25%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia Income Tax                                            | District of Columbia Income Tax, Series 2019C                                               | CUSIP: 25477GQC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $27008.00     | 0.30%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sales Tax Securitization Corp.                                             | Sales Tax Securitization Corp., Series 2021A                                                | CUSIP: 79467BEG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $21820.97     | 0.25%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Minneapolis MN                                                     | City of Minneapolis, Series 2024                                                            | CUSIP: 60375BMZ6<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |     10000 | PA      | $11296.64     | 0.13%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Cook                                                             | County of Cook, Series 2024                                                                 | CUSIP: 213248EE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $11059.64     | 0.12%             | 2031-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Washington                                                        | State of Washington, Series R-2024C                                                         | CUSIP: 93974EZ66<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |     80000 | PA      | $89370.42     | 1.01%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                    | South Carolina Public Service Authority, Series 2022A                                       | CUSIP: 837151ZJ1<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |     95000 | PA      | $105054.50    | 1.18%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                        | State of California                                                                         | CUSIP: 13063EDD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $56421.04     | 0.63%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                 | Illinois Finance Authority, Series 2020                                                     | CUSIP: 45204FFR1<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |     15000 | PA      | $15421.55     | 0.17%             | 2033-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of New York                                                           | City of New York, Series 2022D-1                                                            | CUSIP: 64966QA67<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |     20000 | PA      | $22229.97     | 0.25%             | 2031-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BlackRock Liquidity Funds                                                  | BlackRock Liquidity MuniCash Funds: Institutional Shares                                    | CUSIP: 09248U841<br>LEI: 549300RWBJ885673DL84 | Long             | STIV             | RF                | US        |     23049 | NS      | $23049.47     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| State of California                                                        | State of California, Series 2019                                                            | CUSIP: 13063DQQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $27238.01     | 0.31%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Pennsylvania                                               | Commonwealth of Pennsylvania, Series 2023                                                   | CUSIP: 70914P2E1<br>LEI: 549300WICSGUHKHF1T85 | Long             | DBT              | MUN               | US        |     15000 | PA      | $16831.50     | 0.19%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of California                                                   | University of California, Series 2023BQ                                                     | CUSIP: 91412HPY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $78986.38     | 0.89%             | 2031-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                         | New York State Dormitory Authority, Series 2021A                                            | CUSIP: 65000BDC9<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |     40000 | PA      | $43412.53     | 0.49%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Fairfax                                                          | County of Fairfax, Series 2023A                                                             | CUSIP: 30382AMP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $21381.09     | 0.24%             | 2031-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Illinois State Toll Highway Authority                                      | Illinois State Toll Highway Authority, Series 2019C                                         | CUSIP: 452252PH6<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |     50000 | PA      | $54385.88     | 0.61%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New York                                                           | City of New York, Series 2022A, Sub-Series A-1                                              | CUSIP: 64966QXH8<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |     30000 | PA      | $32775.28     | 0.37%             | 2033-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL Waterworks Revenue                                      | City of Chicago Waterworks, Series 2023B                                                    | CUSIP: 167736W29<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $44299.67     | 0.50%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Clark County School District                                               | Clark County School District, Series 2021A                                                  | CUSIP: 181059V78<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20709.57     | 0.23%             | 2032-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| San Diego Unified School District                                          | San Diego Unified School District, Series 2021E-2                                           | CUSIP: 797356ED0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $22723.70     | 0.26%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New York                                                           | City of New York, Series 2022A, Sub-Series A-1                                              | CUSIP: 64966QXJ4<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |     30000 | PA      | $32465.40     | 0.37%             | 2034-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                           | Pennsylvania Turnpike Commission, Series 2021B                                              | CUSIP: 709225CP9<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |     25000 | PA      | $27592.56     | 0.31%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Unified School District                                        | Los Angeles Unified School District, Series 2024A                                           | CUSIP: 544647HN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $39729.59     | 0.45%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Connecticut                                                       | State of Connecticut, Series 2021B                                                          | CUSIP: 20772KMU0<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |     30000 | PA      | $31817.54     | 0.36%             | 2031-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Texas Tollway Authority                                              | North Texas Tollway Authority, Series 2023B                                                 | CUSIP: 66285WP67<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |     10000 | PA      | $11008.76     | 0.12%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Educational Facilities Authority                                | New Jersey Educational Facilities Authority, Series 2024                                    | CUSIP: 646067GT9<br>LEI: 549300UTOO4X537XXG70 | Long             | DBT              | MUN               | US        |     15000 | PA      | $16615.71     | 0.19%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade FL                                                    | County of Miami-Dade, Series 2021A                                                          | CUSIP: 59333NX32<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |     30000 | PA      | $33322.22     | 0.38%             | 2031-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Anaheim Public Financing Authority                                         | Anaheim Public Financing Authority, Series 1997C                                            | CUSIP: 03255LBR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     85000 | PA      | $69484.64     | 0.78%             | 2031-09-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| County of Putnam                                                           | County of Putnam, Series 2021                                                               | CUSIP: 746673A85<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20856.24     | 0.23%             | 2031-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                   | Massachusetts Development Finance Agency, Series 2021A                                      | CUSIP: 57584YR27<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |     20000 | PA      | $22191.76     | 0.25%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Rhode Island                                                      | State of Rhode Island, Series 2021E                                                         | CUSIP: 762223LV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $25877.05     | 0.29%             | 2033-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Government of Nashville & Davidson County                     | Metropolitan Government of Nashville & Davidson County, Series 2021C                        | CUSIP: 592112UX2<br>LEI: 549300GW8FVQJ3DU6O10 | Long             | DBT              | MUN               | US        |     40000 | PA      | $41445.38     | 0.47%             | 2032-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade                                                       | County of Miami-Dade, Series 2020                                                           | CUSIP: 59333FZX1<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |     35000 | PA      | $36285.73     | 0.41%             | 2031-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Charlotte                                                          | City of Charlotte, Series 2021A                                                             | CUSIP: 161036RJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $33563.93     | 0.38%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Minnesota                                                    | University of Minnesota, Series 2021A                                                       | CUSIP: 914468FK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $56035.34     | 0.63%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| School District of Broward County                                          | School District of Broward County, Series 2020A                                             | CUSIP: 115065C36<br>LEI: 5493006KVNQDJ1D0OD92 | Long             | DBT              | MUN               | US        |     30000 | PA      | $32621.58     | 0.37%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Thruway Authority                                           | New York State Thruway Authority, Series 2022A                                              | CUSIP: 650028YH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $22218.44     | 0.25%             | 2031-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power                                    | Los Angeles Department of Water & Power, Series 2023E                                       | CUSIP: 544532JB1<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |     10000 | PA      | $11044.46     | 0.12%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Vermont Municipal Bond Bank                                                | Vermont Municipal Bond Bank, Series 2023-3                                                  | CUSIP: 9242148Q5<br>LEI: 54930081EMY8D1GYM846 | Long             | DBT              | MUN               | US        |     40000 | PA      | $43888.03     | 0.49%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                        | State of California                                                                         | CUSIP: 13063DF52<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20713.16     | 0.23%             | 2034-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Maryland                                                          | State of Maryland, Series 2024A                                                             | CUSIP: 574193WK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $56068.33     | 0.63%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                       | Triborough Bridge & Tunnel Authority, Series 2023A                                          | CUSIP: 89602HFJ1<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |     20000 | PA      | $21329.54     | 0.24%             | 2031-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Salt River Project Agricultural Improvement & Power District               | Salt River Project Agricultural Improvement & Power District, Series 2019A                  | CUSIP: 79574CDR1<br>LEI: SHB8HO6GKXJ83RX5OV39 | Long             | DBT              | MUN               | US        |     10000 | PA      | $10942.36     | 0.12%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Colorado                                                     | University of Colorado, Series 2021C-4                                                      | CUSIP: 91417NCQ6<br>LEI: 549300HU7D08HY4MKX37 | Long             | DBT              | MUN               | US        |     35000 | PA      | $37628.56     | 0.42%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Washington                                                   | University of Washington, Series 2024A                                                      | CUSIP: 91523NYD2<br>LEI: T8YS5W0N70BYCTHPA429 | Long             | DBT              | MUN               | US        |     10000 | PA      | $11118.47     | 0.13%             | 2031-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Rhode Island                                                      | State of Rhode Island, Series 2021E                                                         | CUSIP: 762223LU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $36570.05     | 0.41%             | 2032-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade Water & Sewer System                                  | County of Miami-Dade Water & Sewer System, Series 2024B                                     | CUSIP: 59334DPC2<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |     25000 | PA      | $27985.51     | 0.31%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas Water Development Board                                              | Texas Water Development Board, Series 2021                                                  | CUSIP: 8828546Y3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $54303.25     | 0.61%             | 2034-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Florida                                                           | State of Florida, Series 2021A                                                              | CUSIP: 34153QUP9<br>LEI: 5493004G5XFOOUT0LQ57 | Long             | DBT              | MUN               | US        |     20000 | PA      | $22473.22     | 0.25%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Portland                                                           | City of Portland, Series 2021B                                                              | CUSIP: 736740VK4<br>LEI: 254900RPNQMJF9NBMF52 | Long             | DBT              | MUN               | US        |     80000 | PA      | $69804.55     | 0.79%             | 2033-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Municipality of Anchorage                                                  | Municipality of Anchorage, Series 2022A                                                     | CUSIP: 033162JW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $27874.83     | 0.31%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Missouri Joint Municipal Electric Utility Commission                       | Missouri Joint Municipal Electric Utility Commission, Series 2024                           | CUSIP: 606092PT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $10951.68     | 0.12%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Florida Department of Transportation Turnpike System Revenue      | State of Florida Department of Transportation Turnpike System, Series 2021B                 | CUSIP: 343137KQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $38811.44     | 0.44%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Municipal Electric Authority of Georgia                                    | Municipal Electric Authority of Georgia, Series 2020A                                       | CUSIP: 6262075R1<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |     25000 | PA      | $27393.57     | 0.31%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Power Authority                                                   | New York Power Authority, Series 2022A                                                      | CUSIP: 65000XAL4<br>LEI: I5P1GEYFGGMMDOFX2L30 | Long             | DBT              | MUN               | US        |     50000 | PA      | $54967.22     | 0.62%             | 2034-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Oklahoma City OK                                                   | City of Oklahoma, Series 2022                                                               | CUSIP: 678519R35<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $10524.33     | 0.12%             | 2031-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Fort Worth Water & Sewer System                                    | City of Fort Worth Water & Sewer System, Series 2020A                                       | CUSIP: 349515H58<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $25842.50     | 0.29%             | 2031-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Texas Water Development Board                                              | Texas Water Development Board, Series 2019A                                                 | CUSIP: 882854Y30<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $16276.29     | 0.18%             | 2031-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Tacoma WA Sewer Revenue                                            | City of Tacoma, Series 2022                                                                 | CUSIP: 873545LN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $25672.38     | 0.29%             | 2034-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Bellevue WA                                                        | City of Bellevue, Series 2022                                                               | CUSIP: 0793655A6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $36547.73     | 0.41%             | 2032-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Fairfax VA                                                       | County of Fairfax, Series 2021A                                                             | CUSIP: 30382ALB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $51084.98     | 0.57%             | 2033-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Turnpike Authority                                              | New Jersey Turnpike Authority, Series 2025B                                                 | CUSIP: 646140JN4<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |    100000 | PA      | $110614.78    | 1.24%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Ohio                                                              | State of Ohio, Series 2021C                                                                 | CUSIP: 677523BB7<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |     60000 | PA      | $67078.10     | 0.75%             | 2031-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Connecticut Special Tax Revenue                                   | State of Connecticut Special Tax, Series 2021D                                              | CUSIP: 207758G49<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |     60000 | PA      | $67213.53     | 0.76%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue    | New York City Transitional Finance Authority Future Tax Secured, Series 2021F-1             | CUSIP: 64971XZE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $55028.53     | 0.62%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Municipal Bond Bank                                          | New Hampshire Municipal Bond Bank, Series 2024C                                             | CUSIP: 64465QRB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $55992.81     | 0.63%             | 2031-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cypress-Fairbanks Independent School District                              | Cypress-Fairbanks Independent School District, Series 2020                                  | CUSIP: 232769GD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $21870.51     | 0.25%             | 2031-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power                                    | Los Angeles Department of Water & Power, Series 2021C                                       | CUSIP: 544532CY8<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |     25000 | PA      | $27393.61     | 0.31%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Arkansas                                                     | University of Arkansas, Series 2023                                                         | CUSIP: 914073FW6<br>LEI: 549300FFADBQ3NEI2D96 | Long             | DBT              | MUN               | US        |     25000 | PA      | $27960.14     | 0.31%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Regional Transportation Authority                                          | Regional Transportation Authority, Series 2002A                                             | CUSIP: 759911TT7<br>LEI: 549300FOIPI62F5YFO59 | Long             | DBT              | MUN               | US        |     20000 | PA      | $23208.34     | 0.26%             | 2031-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Trinity River Authority Mountain Creek Regional Wastewater System          | Trinity River Authority Mountain Creek Regional Wastewater System, Series 2022              | CUSIP: 896572ET7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $27782.63     | 0.31%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Water District of Southern California                         | Metropolitan Water District of Southern California, Series 2020A                            | CUSIP: 59266TRD5<br>LEI: 5493003GD0S0P56RLT45 | Long             | DBT              | MUN               | US        |     15000 | PA      | $16478.72     | 0.19%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                       | Triborough Bridge & Tunnel Authority, Series 2023A                                          | CUSIP: 89602RJH9<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |     20000 | PA      | $21282.08     | 0.24%             | 2031-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles County Public Works Financing Authority                        | Los Angeles County Public Works Financing Authority, Series 2022G                           | CUSIP: 54473EXE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     85000 | PA      | $92406.24     | 1.04%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Atlanta Rapid Transit Authority                               | Metropolitan Atlanta Rapid Transit Authority, Series 2024B                                  | CUSIP: 591746BG6<br>LEI: 5493006NVWO3NVLK0F49 | Long             | DBT              | MUN               | US        |     20000 | PA      | $22396.67     | 0.25%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Tacoma WA Sewer Revenue                                            | City of Tacoma, Series 2022                                                                 | CUSIP: 873545LP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20308.27     | 0.23%             | 2035-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pittsburgh Water & Sewer Authority                                         | Pittsburgh Water & Sewer Authority, Series 2023A                                            | CUSIP: 725304XM6<br>LEI: 54930034DVH6W22T1E86 | Long             | DBT              | MUN               | US        |     35000 | PA      | $39107.46     | 0.44%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Connecticut                                                       | State of Connecticut, Series 2022D                                                          | CUSIP: 20772KRV3<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |     50000 | PA      | $55948.26     | 0.63%             | 2031-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Las Vegas Valley Water District                                            | Las Vegas Valley Water District, Series 2022A                                               | CUSIP: 517845MV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $44762.58     | 0.50%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Wake                                                             | County of Wake, Series 2023A                                                                | CUSIP: 930876FU6<br>LEI: 5493007XQJHO082P1H29 | Long             | DBT              | MUN               | US        |     10000 | PA      | $11178.90     | 0.13%             | 2031-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Denton Independent School District                                         | Denton Independent School District, Series 2020                                             | CUSIP: 249002GY6<br>LEI: 5493005I9W678SUI0Z07 | Long             | DBT              | MUN               | US        |     60000 | PA      | $64563.54     | 0.73%             | 2031-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Idaho Housing & Finance Association                                        | Idaho Housing & Finance Association, Series 2021A                                           | CUSIP: 45129WPZ7<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |     25000 | PA      | $27729.90     | 0.31%             | 2031-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port of Seattle                                                            | Port of Seattle, Series 2022A                                                               | CUSIP: 735389T24<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |     35000 | PA      | $38999.71     | 0.44%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Austin Independent School District                                         | Austin Independent School District, Series 2024                                             | CUSIP: 052430WL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $27959.10     | 0.31%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Arizona (The)                                                | Arizona Board of Regents, Series 2021C                                                      | CUSIP: 040664CW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $11141.24     | 0.13%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Northern California Sanitation Agencies Financing Authority                | Northern California Sanitation Agencies Financing Authority, Series 2021                    | CUSIP: 786134WX0<br>LEI: 549300MSDPX3EYMUYV38 | Long             | DBT              | MUN               | US        |     15000 | PA      | $14351.49     | 0.16%             | 2034-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| City of Dallas                                                             | City of Dallas, Series 2023A                                                                | CUSIP: 235219UX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $22145.63     | 0.25%             | 2031-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Denton Independent School District                                         | Denton Independent School District, Series 2024                                             | CUSIP: 249002MM5<br>LEI: 5493005I9W678SUI0Z07 | Long             | DBT              | MUN               | US        |     20000 | PA      | $22327.83     | 0.25%             | 2031-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of New Jersey                                                        | State of New Jersey, Series 2020A                                                           | CUSIP: 646039YQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $47701.46     | 0.54%             | 2031-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| School District of Philadelphia (The)                                      | School District of Philadelphia (The), Series 2023A                                         | CUSIP: 717883ZS4<br>LEI: 254900HSKDHZKBZCUL90 | Long             | DBT              | MUN               | US        |     25000 | PA      | $27320.85     | 0.31%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Prince George's                                                  | County of Prince George's, Series 2019A                                                     | CUSIP: 7417015P7<br>LEI: 549300NSQ1W50I0VU811 | Long             | DBT              | MUN               | US        |      5000 | PA      | $5190.11      | 0.06%             | 2031-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                         | New York State Dormitory Authority, Series 2023A                                            | CUSIP: 64990F4D3<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |     40000 | PA      | $44612.93     | 0.50%             | 2031-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Wilmington DE                                                      | City of Wilmington, Series 2020A                                                            | CUSIP: 971567SG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $31581.64     | 0.36%             | 2031-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Dallas Independent School District                                         | Dallas Independent School District, Series 2021                                             | CUSIP: 235308A45<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20960.88     | 0.24%             | 2031-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                         | New York State Dormitory Authority, Series 2021A                                            | CUSIP: 64990FZN7<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |     35000 | PA      | $37937.85     | 0.43%             | 2034-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Charleston                                                       | County of Charleston, Series 2021A                                                          | CUSIP: 160069F62<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20934.19     | 0.24%             | 2032-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power                                    | Los Angeles Department of Water & Power, Series 2021B                                       | CUSIP: 544532CE2<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |     15000 | PA      | $16010.29     | 0.18%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Maryland                                                          | State of Maryland, Series 2020A-2                                                           | CUSIP: 574193TE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $27536.77     | 0.31%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Tennessee                                                         | State of Tennessee, Series 2023A                                                            | CUSIP: 880541H59<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $16850.85     | 0.19%             | 2031-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Clear Creek Independent School District                                    | Clear Creek Independent School District, Series 2021                                        | CUSIP: 184541DU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $11095.02     | 0.12%             | 2031-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Fairfax VA Sewer Revenue                                         | County of Fairfax, Series 2021A                                                             | CUSIP: 303867LW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $27274.77     | 0.31%             | 2035-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lower Colorado River Authority                                             | Lower Colorado River Authority, Series 2023A                                                | CUSIP: 54811BF71<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |     50000 | PA      | $55112.08     | 0.62%             | 2031-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Davis School District                                                      | Davis School District, Series 2020                                                          | CUSIP: 2390193M2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20785.49     | 0.23%             | 2031-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                        | State of California                                                                         | CUSIP: 13063DZD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $16644.02     | 0.19%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maine Municipal Bond Bank                                                  | Maine Municipal Bond Bank, Series 2022A                                                     | CUSIP: 56045R3V9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $22391.03     | 0.25%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Atlanta Water & Wastewater                                         | City of Atlanta Water & Wastewater, Series 2024                                             | CUSIP: 047870SU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5600.79      | 0.06%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pierce County School District No. 401 Peninsula                            | Pierce County School District No. 401 Peninsula, Series 2020                                | CUSIP: 720577XY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $82435.98     | 0.93%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Houston                                                      | University of Houston, Series 2022A                                                         | CUSIP: 914302JZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $38700.31     | 0.44%             | 2031-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| King County School District No. 405 Bellevue                               | King County School District No. 405 Bellevue, Series 2022                                   | CUSIP: 495098F42<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $11265.00     | 0.13%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                  | Indiana Finance Authority, Series 2021B                                                     | CUSIP: 45506EDV2<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |     20000 | PA      | $21729.04     | 0.24%             | 2034-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                       | Triborough Bridge & Tunnel Authority, Series 2018B                                          | CUSIP: 89602REN1<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |     30000 | PA      | $33895.25     | 0.38%             | 2031-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Memphis TN                                                         | City of Memphis, Series 2021                                                                | CUSIP: 5861452B9<br>LEI: 254900N4APYJWTAF5J46 | Long             | DBT              | MUN               | US        |     40000 | PA      | $44682.16     | 0.50%             | 2031-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Utah                                                             | County of Utah, Series 2019                                                                 | CUSIP: 91739RCV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $48810.07     | 0.55%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Florida Expressway Authority                                       | Central Florida Expressway Authority, Series 2021                                           | CUSIP: 153476GU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $107191.80    | 1.21%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Ohio Turnpike & Infrastructure Commission                                  | Ohio Turnpike & Infrastructure Commission, Series 2013A-4                                   | CUSIP: 67760HKR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $67498.79     | 0.76%             | 2034-02-15      | Variable      | 5.70%                 | No            |                  2 | On Loan: No      |
| State of California                                                        | State of California                                                                         | CUSIP: 13063DC30<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $67932.64     | 0.76%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Educational Facilities Authority                                | New Jersey Educational Facilities Authority, Series 2021C                                   | CUSIP: 646067CF3<br>LEI: 549300UTOO4X537XXG70 | Long             | DBT              | MUN               | US        |      5000 | PA      | $5248.17      | 0.06%             | 2033-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Water Reclamation District of Greater Chicago                 | Metropolitan Water Reclamation District of Greater Chicago, Series 2021C                    | CUSIP: 167560VU2<br>LEI: 254900GOGQEZEWCZ4D37 | Long             | DBT              | MUN               | US        |     20000 | PA      | $22431.35     | 0.25%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Municipality of Anchorage                                                  | Municipality of Anchorage, Series 2021C                                                     | CUSIP: 033162HN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30413.85     | 0.34%             | 2035-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Pennsylvania                                               | Commonwealth of Pennsylvania, Series 2023                                                   | CUSIP: 70914P3A8<br>LEI: 549300WICSGUHKHF1T85 | Long             | DBT              | MUN               | US        |     10000 | PA      | $11221.00     | 0.13%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Trinity River Authority Central Regional Wastewater System Revenue         | Trinity River Authority Central Regional Wastewater System, Series 2020                     | CUSIP: 89658HXJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $49480.47     | 0.56%             | 2031-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| City of Greenville                                                         | City of Greenville                                                                          | CUSIP: 3966942B6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $36521.30     | 0.41%             | 2031-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Rutherford                                                       | County of Rutherford, Series 2024                                                           | CUSIP: 783244NJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $27989.05     | 0.32%             | 2031-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Kansas City                                                        | City of Kansas City, Series 2021A                                                           | CUSIP: 484873QN7<br>LEI: 549300EGAE3I3XU7XE19 | Long             | DBT              | MUN               | US        |     40000 | PA      | $44539.66     | 0.50%             | 2031-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Clark                                                            | County of Clark, Series 2021                                                                | CUSIP: 180848U27<br>LEI: 549300LDD8NZB2EOVG83 | Long             | DBT              | MUN               | US        |     25000 | PA      | $23747.58     | 0.27%             | 2033-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| City of Seattle                                                            | City of Seattle, Series 2021                                                                | CUSIP: 812631PT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $31454.27     | 0.35%             | 2032-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Poway Unified School District                                              | Poway Unified School District, Series A                                                     | CUSIP: 738850QP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $20750.34     | 0.23%             | 2031-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| State of Michigan Trunk Line Revenue                                       | State of Michigan Trunk Line, Series 2021A                                                  | CUSIP: 5946952S6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $21647.42     | 0.24%             | 2035-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Johnston                                                         | County of Johnston, Series 2020A                                                            | CUSIP: 479354DR0<br>LEI: 5493003J6KNUY7E7SF98 | Long             | DBT              | MUN               | US        |     20000 | PA      | $21903.27     | 0.25%             | 2031-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Public School Authority                                           | Virginia Public School Authority, Series 2021C                                              | CUSIP: 92818HVC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $22448.07     | 0.25%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                        | State of California                                                                         | CUSIP: 13063D2D9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $22625.61     | 0.25%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cypress-Fairbanks Independent School District                              | Cypress-Fairbanks Independent School District, Series 2020A                                 | CUSIP: 232769HE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $68515.10     | 0.77%             | 2035-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                         | New York State Dormitory Authority, Series 2019A                                            | CUSIP: 64990FKN3<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |     25000 | PA      | $26710.80     | 0.30%             | 2031-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Missouri Joint Municipal Electric Utility Commission                       | Missouri Joint Municipal Electric Utility Commission, Series 2025                           | CUSIP: 606092QD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $22249.07     | 0.25%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Minnesota                                                         | State of Minnesota, Series 2021B                                                            | CUSIP: 60412AXH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $36899.12     | 0.42%             | 2032-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Municipal Improvement Corp. of Los Angeles                                 | Municipal Improvement Corp. of Los Angeles, Series 2021C                                    | CUSIP: 5445873V8<br>LEI: 549300ZJ0YLTZNSR8F57 | Long             | DBT              | MUN               | US        |     50000 | PA      | $55128.34     | 0.62%             | 2034-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Wilmington                                                         | City of Wilmington, Series 2021A                                                            | CUSIP: 971668Y93<br>LEI: 549300Y5IY4G3QB69428 | Long             | DBT              | MUN               | US        |     25000 | PA      | $24164.53     | 0.27%             | 2033-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| University of California                                                   | University of California, Series 2023BN                                                     | CUSIP: 91412HPF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $16925.65     | 0.19%             | 2031-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Municipal Electric Authority of Georgia                                    | Municipal Electric Authority of Georgia, Series 2024                                        | CUSIP: 62620HJJ2<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |     55000 | PA      | $60265.85     | 0.68%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                              | Commonwealth of Massachusetts, Series 2024B                                                 | CUSIP: 57582R6P6<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |     45000 | PA      | $50797.19     | 0.57%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| King County School District No. 411 Issaquah                               | King County School District No. 411 Issaquah, Series 2019                                   | CUSIP: 4952244Z7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $21541.18     | 0.24%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington Metropolitan Area Transit Authority                             | Washington Metropolitan Area Transit Authority, Series 2021A                                | CUSIP: 93878YBF5<br>LEI: 549300ADKOK76HQMJS30 | Long             | DBT              | MUN               | US        |     20000 | PA      | $22079.16     | 0.25%             | 2032-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Louisiana                                                         | State of Louisiana, Series 2024E                                                            | CUSIP: 546417KH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $11227.60     | 0.13%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dallas Fort Worth International Airport                                    | Dallas Fort Worth International Airport, Series 2022B                                       | CUSIP: 23503CAZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $22296.72     | 0.25%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania State University (The)                                        | Pennsylvania State University (The), Series 2025A                                           | CUSIP: 7092353Q6<br>LEI: 549300QDK4O4XCJ47X56 | Long             | DBT              | MUN               | US        |     20000 | PA      | $22348.42     | 0.25%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| American Municipal Power, Inc.                                             | American Municipal Power, Inc., Series 2021A                                                | CUSIP: 02765URC0<br>LEI: EARKGGZJJEMVD66XQ486 | Long             | DBT              | MUN               | US        |     35000 | PA      | $38037.50     | 0.43%             | 2033-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New Orleans                                                        | City of New Orleans, Series 2020B                                                           | CUSIP: 647719PJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $21514.85     | 0.24%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Georgia                                                           | State of Georgia, Series 2023A                                                              | CUSIP: 373385MF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $22503.62     | 0.25%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                             | New Jersey Transportation Trust Fund Authority, Series 2022AA                               | CUSIP: 64613CAP3<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |     40000 | PA      | $44252.55     | 0.50%             | 2031-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Reno NV                                                            | City of Reno, Series 2024                                                                   | CUSIP: 759829H56<br>LEI: 549300M4R5WWSUWY8D52 | Long             | DBT              | MUN               | US        |     20000 | PA      | $22311.83     | 0.25%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Public School Authority                                           | Virginia Public School Authority, Series 2021A                                              | CUSIP: 92818HTE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $38128.71     | 0.43%             | 2033-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| County of Guilford NC                                                      | County of Guilford, Series 2024                                                             | CUSIP: 401784T86<br>LEI: 549300OUKUGQGH8RCL96 | Long             | DBT              | MUN               | US        |     50000 | PA      | $56016.02     | 0.63%             | 2031-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                           | Pennsylvania Turnpike Commission, Series 2021C                                              | CUSIP: 709225EK8<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |     35000 | PA      | $38608.49     | 0.43%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Wisconsin                                                         | State of Wisconsin, Series 2024A                                                            | CUSIP: 97705MF91<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |     20000 | PA      | $22307.31     | 0.25%             | 2031-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southern California Public Power Authority                                 | Southern California Public Power Authority, Series 2024-1                                   | CUSIP: 842469BS6<br>LEI: 5493003B5TD5FWUKMD34 | Long             | DBT              | MUN               | US        |     10000 | PA      | $11061.57     | 0.12%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Turnpike Authority                                                | Kentucky Turnpike Authority, Series 2021A                                                   | CUSIP: 491552R56<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $50032.10     | 0.56%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles County Metropolitan Transportation Authority Sales Tax         | Los Angeles County Metropolitan Transportation Authority Sales Tax, Series 2020A            | CUSIP: 54466HJU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $33342.55     | 0.38%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Empire State Development Corp.                                             | Empire State Development Corp., Series 2022A                                                | CUSIP: 650036FG6<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |     20000 | PA      | $22416.28     | 0.25%             | 2031-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Spring Branch Independent School District                                  | Spring Branch Independent School District, Series 2020                                      | CUSIP: 849476UE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $16597.49     | 0.19%             | 2031-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fort Bend Grand Parkway Toll Road Authority                                | Fort Bend Grand Parkway Toll Road Authority, Series 2021A                                   | CUSIP: 346832CA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     65000 | PA      | $67395.68     | 0.76%             | 2033-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JEA Electric System Revenue                                                | JEA Electric System, Series 2021A                                                           | CUSIP: 46613SRQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $21943.83     | 0.25%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Board of Regents of the University of Texas System                         | Board of Regents of the University of Texas System, Series 2021A                            | CUSIP: 91514AKH7<br>LEI: TEHUYFNKZR6XVWLGEU86 | Long             | DBT              | MUN               | US        |     20000 | PA      | $20197.02     | 0.23%             | 2035-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Michigan State University                                                  | Michigan State University, Series 2019B                                                     | CUSIP: 594712US8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $21447.25     | 0.24%             | 2031-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Clear Creek Independent School District                                    | Clear Creek Independent School District, Series 2022                                        | CUSIP: 184541EU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $55006.83     | 0.62%             | 2032-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                       | Chicago O'Hare International Airport, Series 2020B                                          | CUSIP: 167593R20<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $43358.45     | 0.49%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                 | City of Los Angeles Department of Airports, Series 2021B                                    | CUSIP: 544445TJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $43859.17     | 0.49%             | 2034-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Mobile AL                                                          | City of Mobile, Series 2025A                                                                | CUSIP: 6071143T0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $33267.05     | 0.37%             | 2031-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Montgomery                                                       | County of Montgomery, Series 2022A                                                          | CUSIP: 61366AJA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $38738.58     | 0.44%             | 2032-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                        | City of New York, Series 2021C                                                              | CUSIP: 64966QPT1<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |     25000 | PA      | $27329.29     | 0.31%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lone Star College System                                                   | Lone Star College System, Series 2021A                                                      | CUSIP: 542264JS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $31732.98     | 0.36%             | 2035-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade FL                                                    | County of Miami-Dade, Series 2023A                                                          | CUSIP: 59333N3S0<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |     20000 | PA      | $22248.00     | 0.25%             | 2031-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Bernardino Community College District                                  | San Bernardino Community College District, Series B                                         | CUSIP: 796720QP8<br>LEI: 549300Y4FPTEP3EQZ007 | Long             | DBT              | MUN               | US        |     45000 | PA      | $49647.26     | 0.56%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                          | State of Illinois, Series 2023D                                                             | CUSIP: 452153GG8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |     30000 | PA      | $32561.96     | 0.37%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Dallas                                                             | City of Dallas, Series 2024A                                                                | CUSIP: 235219WE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $22145.63     | 0.25%             | 2031-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Austin TX                                                          | City of Austin, Series 2023                                                                 | CUSIP: 052397J31<br>LEI: IW10PQVTU7HKS3JMW253 | Long             | DBT              | MUN               | US        |     30000 | PA      | $33485.22     | 0.38%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power Water System                       | Los Angeles Department of Water & Power Water System, Series 2024A                          | CUSIP: 544525T73<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $22111.73     | 0.25%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Memphis Sanitary Sewerage System                                   | City of Memphis Sanitary Sewerage System, Series 2020B                                      | CUSIP: 586200SL2<br>LEI: 254900N4APYJWTAF5J46 | Long             | DBT              | MUN               | US        |     25000 | PA      | $27396.38     | 0.31%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Delaware Transportation Authority                                          | Delaware Transportation Authority, Series 2020                                              | CUSIP: 246428K47<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $11020.91     | 0.12%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maine Governmental Facilities Authority                                    | Maine Governmental Facilities Authority, Series 2020A                                       | CUSIP: 56041MTS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $16191.54     | 0.18%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Jose Evergreen Community College District                              | San Jose Evergreen Community College District, Series B                                     | CUSIP: 798189FS0<br>LEI: 5493006H31JIFYW6Z091 | Long             | DBT              | MUN               | US        |     50000 | PA      | $41764.09     | 0.47%             | 2031-09-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                        | State of California                                                                         | CUSIP: 13063DWT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $27740.03     | 0.31%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue | Los Angeles County Metropolitan Transportation Authority Sales Tax, Series 2021-A           | CUSIP: 54466HKP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $55303.01     | 0.62%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Denton                                                             | City of Denton                                                                              | CUSIP: 248867AK9<br>LEI: 549300UWEY8IKYK09T27 | Long             | DBT              | MUN               | US        |     30000 | PA      | $31291.01     | 0.35%             | 2031-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                         | New York State Dormitory Authority, Series 2021A                                            | CUSIP: 64990FZM9<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |     50000 | PA      | $54690.30     | 0.62%             | 2033-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of North Carolina                                                    | State of North Carolina, Series 2019A                                                       | CUSIP: 65829QDN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $32241.69     | 0.36%             | 2031-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California State Public Works Board                                        | California State Public Works Board, Series 2021B                                           | CUSIP: 13068XBL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     80000 | PA      | $86696.74     | 0.98%             | 2035-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ohio State University (The)                                                | Ohio State University (The), Series 2021A                                                   | CUSIP: 677632M40<br>LEI: JFC10ZULKO4X2E3HBY86 | Long             | DBT              | MUN               | US        |     40000 | PA      | $43838.42     | 0.49%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Grapevine-Colleyville Independent School District                          | Grapevine-Colleyville Independent School District, Series 2021A                             | CUSIP: 3886405W0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     80000 | PA      | $89405.33     | 1.01%             | 2031-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lower Colorado River Authority                                             | Lower Colorado River Authority, Series 2019A                                                | CUSIP: 54811BTN1<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |     60000 | PA      | $63751.54     | 0.72%             | 2031-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Nassau County Interim Finance Authority                                    | Nassau County Interim Finance Authority, Series 2021A                                       | CUSIP: 631663QU8<br>LEI: 549300DP7LB76W78BR41 | Long             | DBT              | MUN               | US        |     15000 | PA      | $16979.77     | 0.19%             | 2031-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City & County of Denver                                                    | City & County of Denver, Series 2020A                                                       | CUSIP: 249164QD9<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |     30000 | PA      | $33175.13     | 0.37%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Community College District                                     | Los Angeles Community College District, Series 2024                                         | CUSIP: 54438CC83<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $22926.44     | 0.26%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Spring Branch Independent School District                                  | Spring Branch Independent School District, Series 2022                                      | CUSIP: 849476VD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $22129.99     | 0.25%             | 2031-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oklahoma Water Resources Board                                             | Oklahoma Water Resources Board, Series 2024C                                                | CUSIP: 67920Q5C8<br>LEI: 5493007CUNXW5UX11C71 | Long             | DBT              | MUN               | US        |     55000 | PA      | $60561.15     | 0.68%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Auburn University                                                          | Auburn University, Series 2025-A                                                            | CUSIP: 050589RR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $27777.72     | 0.31%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                        | City of New York, Series 2021-1                                                             | CUSIP: 64966QWB2<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |     70000 | PA      | $77751.85     | 0.88%             | 2031-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ohio Water Development Authority                                           | Ohio Water Development Authority, Series 2024A                                              | CUSIP: 67765QPT7<br>LEI: 549300QMBH1DMY67FZ74 | Long             | DBT              | MUN               | US        |     10000 | PA      | $11230.24     | 0.13%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Public Utilities Commission Wastewater Revenue | San Francisco City & County Public Utilities Commission Wastewater, Series 2022B            | CUSIP: 79768HGR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $11369.07     | 0.13%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured            | New York City Transitional Finance Authority Future Tax Secured, Series 2021F-1             | CUSIP: 64971XZG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $21722.06     | 0.24%             | 2033-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Alaska                                                            | State of Alaska, Series 2024A                                                               | CUSIP: 0117705N0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $16756.95     | 0.19%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Leander Independent School District                                        | Leander Independent School District, Series 2022                                            | CUSIP: 521841F92<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $27600.02     | 0.31%             | 2032-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia College Building Authority                                        | Virginia College Building Authority, Series 2019A                                           | CUSIP: 92778VGJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $21459.47     | 0.24%             | 2031-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Texas Tollway Authority                                              | North Texas Tollway Authority, Series 2008D                                                 | CUSIP: 66285WBW5<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |     25000 | PA      | $20863.22     | 0.23%             | 2031-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| State of Georgia                                                           | State of Georgia, Series 2021A                                                              | CUSIP: 373385HS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $15438.67     | 0.17%             | 2034-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Clark County School District No. 37 Vancouver                              | Clark County School District No. 37 Vancouver, Series 2019                                  | CUSIP: 181144UA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $53552.38     | 0.60%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Norwalk-La Mirada Unified School District                                  | Norwalk-La Mirada Unified School District, Series 2007C                                     | CUSIP: 669096PR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $16453.62     | 0.19%             | 2031-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| State of Connecticut Special Tax Revenue                                   | State of Connecticut Special Tax, Series 2023A                                              | CUSIP: 207758P23<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |     20000 | PA      | $22340.12     | 0.25%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Connecticut                                                       | State of Connecticut, Series 2022G                                                          | CUSIP: 20772KTD1<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |    100000 | PA      | $112057.54    | 1.26%             | 2031-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                              | Commonwealth of Massachusetts, Series 2022D                                                 | CUSIP: 57582RZ25<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |     20000 | PA      | $22576.53     | 0.25%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Charlotte                                                          | City of Charlotte                                                                           | CUSIP: 1610375G7<br>LEI: 5493001QNY6JJFWHQ568 | Long             | DBT              | MUN               | US        |     20000 | PA      | $22468.29     | 0.25%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Bay Transportation Authority Sales Tax Revenue               | Massachusetts Bay Transportation Authority Sales Tax, Series 2021A-1                        | CUSIP: 575579K71<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $27337.14     | 0.31%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Columbus                                                           | City of Columbus, Series 2022A                                                              | CUSIP: 199492T25<br>LEI: 254900NS3ODS0FZ3AM48 | Long             | DBT              | MUN               | US        |     20000 | PA      | $22424.73     | 0.25%             | 2031-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port of Seattle WA                                                         | Port of Seattle, Series 2021B                                                               | CUSIP: 735389M70<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |     25000 | PA      | $27093.82     | 0.30%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue    | New York City Transitional Finance Authority Future Tax Secured, Series 2023, Sub-Series E1 | CUSIP: 64971X4T2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $56014.31     | 0.63%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois Sales Tax Revenue                                        | State of Illinois Sales Tax, Series 2025A                                                   | CUSIP: 452227VB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $27461.91     | 0.31%             | 2031-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                    | South Carolina Public Service Authority, Series 2021A                                       | CUSIP: 837151XW4<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |     10000 | PA      | $10104.69     | 0.11%             | 2033-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                            | New York City Municipal Water Finance Authority, Series 2021DD                              | CUSIP: 64972GYW8<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |     15000 | PA      | $16437.22     | 0.18%             | 2033-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Environmental Facilities Corp.                              | New York State Environmental Facilities Corp., Series 2024A                                 | CUSIP: 64986DNS0<br>LEI: 549300QJ33JJW73OQO60 | Long             | DBT              | MUN               | US        |     10000 | PA      | $11293.21     | 0.13%             | 2031-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Louisiana                                                         | State of Louisiana, Series 2021A                                                            | CUSIP: 546417ET9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $38292.21     | 0.43%             | 2033-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Minnesota                                                         | State of Minnesota, Series 2023D                                                            | CUSIP: 60412AC27<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $28120.53     | 0.32%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Phoenix Civic Improvement Corp.                                    | City of Phoenix Civic Improvement Corp., Series 2020A                                       | CUSIP: 71884AD30<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $32991.44     | 0.37%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                  | Indiana Finance Authority, Series 2021-2                                                    | CUSIP: 45505MKM7<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |     45000 | PA      | $48740.77     | 0.55%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Intermountain Power Agency                                                 | Intermountain Power Agency, Series 2022A                                                    | CUSIP: 45884AA78<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $26715.11     | 0.30%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Wisconsin                                                         | State of Wisconsin, Series 2024C                                                            | CUSIP: 97705MN68<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |     20000 | PA      | $22307.31     | 0.25%             | 2031-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Washoe                                                           | County of Washoe, Series 2021                                                               | CUSIP: 940774NV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $22212.27     | 0.25%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City & County of Honolulu                                                  | City & County of Honolulu, Series 2020B                                                     | CUSIP: 438687ME2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $21884.16     | 0.25%             | 2031-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                            | New York City Municipal Water Finance Authority, Series 2020EE                              | CUSIP: 64972GWQ3<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |     80000 | PA      | $90112.74     | 1.01%             | 2031-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                      | Metropolitan Transportation Authority, Series 2024A                                         | CUSIP: 59261AY50<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |     10000 | PA      | $11113.92     | 0.13%             | 2031-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Delaware Transportation Authority                                          | Delaware Transportation Authority, Series 2024                                              | CUSIP: 246428P75<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $28097.38     | 0.32%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Energy Northwest                                                           | Energy Northwest, Series 2024A                                                              | CUSIP: 29270C5P6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $22361.96     | 0.25%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City & County of San Francisco                                             | City & County of San Francisco, Series 2021A                                                | CUSIP: 79765D5D8<br>LEI: 549300RA28ZEFOB6M782 | Long             | DBT              | MUN               | US        |     15000 | PA      | $15538.31     | 0.17%             | 2031-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL Wastewater Transmission Revenue                         | City of Chicago Wastewater Transmission, Series 2024B                                       | CUSIP: 167727K54<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $55043.78     | 0.62%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port Authority of Houston of Harris County Texas                           | Port Authority of Houston of Harris County Texas, Series 2021                               | CUSIP: 734262FL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $22089.55     | 0.25%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Omaha Public Power District                                                | Omaha Public Power District, Series 2019A                                                   | CUSIP: 682001GR7<br>LEI: 54930000VJEJ9CGIYG32 | Long             | DBT              | MUN               | US        |     20000 | PA      | $21494.05     | 0.24%             | 2031-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Klein Independent School District                                          | Klein Independent School District, Series 2023                                              | CUSIP: 498531TT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $27871.50     | 0.31%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City & County Honolulu Wastewater System                                   | City & County Honolulu Wastewater System, Series 2022A                                      | CUSIP: 4387012J2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $22281.21     | 0.25%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue    | New York City Transitional Finance Authority Future Tax Secured, Series 2021F-1             | CUSIP: 64971XZJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $19884.36     | 0.22%             | 2035-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Cleveland                                                          | City of Cleveland, Series 2021A-1                                                           | CUSIP: 186387XB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20909.10     | 0.24%             | 2031-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Portland                                                           | City of Portland, Series 2022A                                                              | CUSIP: 736740WF4<br>LEI: 254900RPNQMJF9NBMF52 | Long             | DBT              | MUN               | US        |     30000 | PA      | $28604.12     | 0.32%             | 2033-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| California State Public Works Board                                        | California State Public Works Board, Series 2021D                                           | CUSIP: 13068XDS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $26542.73     | 0.30%             | 2031-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Milwaukee Metropolitan Sewerage District                                   | Milwaukee Metropolitan Sewerage District, Series 2022A                                      | CUSIP: 602409NG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $33170.64     | 0.37%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-31

**Name of Applicant:** iShares Trust

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer