# EDGAR Filing Document

**Accession Number:** 0000810744
**File Stem:** 0001145549-25-057485
**Filing Date:** 2025-8
**Character Count:** 220882
**Document Hash:** 7d857b36c9b1a0db64cfc25a6c02c5d3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-057485.hdr.sgml**: 20250829

**ACCESSION NUMBER**: 0001145549-25-057485

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250829

**DATE AS OF CHANGE**: 20250829

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** COLORADO BONDSHARES A TAX EXEMPT FUND
- **CENTRAL INDEX KEY:** 0000810744

**ORGANIZATION NAME:**
- **EIN:** 846206949
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05009
- **FILM NUMBER:** 251279699

**BUSINESS ADDRESS:**
- **STREET 1:** 1200 17TH STREET
- **STREET 2:** SUITE 1000
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80202-5835
- **BUSINESS PHONE:** 3035726990

**MAIL ADDRESS:**
- **STREET 1:** 1200 17TH STREET
- **STREET 2:** SUITE 1000
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80202-5835

## Series and Classes Contracts Data

### COLORADO BONDSHARES A TAX EXEMPT FUND (Series ID: S000012064)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000032818 | COLORADO BONDSHARES A TAX EXEMPT FUND | HICOX           |

## Nport-Ex

**COLORADO BONDSHARES** 

**A TAX-EXEMPT FUND** 

**Schedule of Investments** 

**June 30, 2025 (unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Maturity** | **Coupon** | **Principal** | **Value** |
| <br> **Colorado Municipal Bonds 59.8%** | <br> **Colorado Municipal Bonds 59.8%** | <br> **Colorado Municipal Bonds 59.8%** | <br> **Colorado Municipal Bonds 59.8%** | <br> **Colorado Municipal Bonds 59.8%** |
|  <br> **Colorado 100.0%** | <br> **Colorado 100.0%** | <br> **Colorado 100.0%** | <br> **Colorado 100.0%** | <br> **Colorado 100.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aberdeen MD #1 - Series A - 2035 | 12/1/2035 | 7.50% | $1600000 | $1600000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anthology West MD #5 - Series A - 2049 | 12/1/2049 | 4.88% | 4575000 | 3967989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anthology West MD #5 - Series B - 2049 (g) | 12/15/2049 | 7.63% | 698000 | 698363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aspen Street MD - Series A - 2050 (g) | 12/1/2050 | 5.13% | 4300000 | 3484333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banning Lewis Ranch Regional MD - Series A - 2048 | 12/1/2048 | 5.38% | 2500000 | 2315225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banning Lewis Ranch Regional MD - Series B - 2041 (g) | 12/15/2041 | 7.75% | 625000 | 626231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Base Village MD #2 - Series B – 2048 (g) | 12/15/2048 | 6.50% | 3500000 | 2683975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Belford North MD - Series A - 2050 | 12/1/2050 | 5.50% | 4000000 | 3450320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Belford North MD - Series B - 2050 (g) | 12/15/2050 | 8.50% | 3475000 | 3483549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bennett Crossing MD #1 - Series A - 2049 | 12/1/2049 | 6.13% | 6160000 | 6188459 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bennett Ranch MD #1 - Series A - 2051 | 12/1/2051 | 5.00% | 3000000 | 2455350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bennett Ranch MD #1 - Series B - 2051 (g) | 12/15/2051 | 7.50% | 1221000 | 1212062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bent Grass MD - Series A - 2054 (m) | 12/1/2054 | 5.75% | 7180000 | 7208002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bradburn MD #2 - Series C - 2051 (g) | 12/15/2051 | 7.50% | 3271000 | 3108431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bramming Farm MD #1 - Series A - 2044 | 12/1/2044 | 6.00% | 1845000 | 1848007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brighton Crossing MD #6 - Series A - 2035 | 12/1/2035 | 5.00% | 525000 | 524249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brighton Crossing MD #6 - Series A - 2040 | 12/1/2040 | 5.00% | 1545000 | 1475135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brighton Crossing MD #6 - Series A - 2050 | 12/1/2050 | 5.00% | 9020000 | 8228495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Broomfield Village MD #2 - Series A - 2049 | 12/1/2049 | 5.00% | 1417000 | 1261782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Buckley Yard MD #2 - Series A - 2052 | 12/1/2052 | 6.25% | 6800000 | 6391660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Buckley Yard MD #2 - Series B - 2052 (g) | 12/15/2052 | 9.25% | 1569000 | 1575417 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP MD 3 - Series A - 2053 | 12/1/2053 | 5.00% | 1200000 | 1126452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canyons MD 5 - Series B - 2054 | 12/1/2054 | 6.50% | 2064000 | 2058221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Castleview MD #2 - Series A - 2050 | 12/1/2050 | 5.00% | 3435000 | 2882205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Castleview MD #1 - Series A - 2050 (g) | 12/1/2050 | 5.00% | 4727000 | 3697365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cherry Creek South MD #5 - Series A - 2051 (g) | 12/1/2051 | 6.00% | 22500000 | 19914750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cherry Hills City MD - Series A - 2047 (g) | 12/1/2047 | 5.00% | 1375000 | 1242560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cielo MD - Series A - 2050 (g) | 12/1/2050 | 5.25% | 12442000 | 10374140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City Center West Residential MD #2 - Series A - 2049 | 12/1/2049 | 5.00% | 2080000 | 1820416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City Center West Residential MD #2 - Series B - 2049 (g) | 12/15/2049 | 7.75% | 1425000 | 1424644 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cityset MD #2 - Series A - 2030 | 12/1/2030 | 3.50% | 4570000 | 4174786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cityset MD #2 - Series A - 2040 | 12/1/2040 | 4.38% | 8360000 | 7105833 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cityset MD #2 - Series A - 2045 | 12/1/2045 | 4.50% | 3180000 | 2618030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clear Creek Transit MD #2 - Series A - 2041 | 12/1/2041 | 5.00% | 1886000 | 1447147 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clear Creek Transit MD #2 - Series A - 2050 | 12/1/2050 | 5.00% | 4100000 | 2909688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cloverleaf MD - Series A - 2051 | 12/1/2051 | 6.00% | 2330000 | 2321239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cloverleaf MD - Series B - 2051 (g) | 12/15/2051 | 9.25% | 1034000 | 1039470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colliers Hill MD #2 - Series B – 2047 (g) | 12/15/2047 | 5.75% | 2243000 | 2108106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colliers Hill MD #3 - Series A - 2040 | 12/1/2040 | 5.25% | 8300000 | 7729292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colliers Hill MD #3 - Series A - 2048 | 12/1/2048 | 5.50% | 18250000 | 17565443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colliers Hill MD #3 - Series B - 2043 (g) | 12/15/2043 | 8.50% | 2213000 | 2192773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado Centre MD - Series B - 2032 (g)(i) | 1/1/2032 | 0.00% | 6592306 | 2966538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado Centre MD - Series A (PO) - 2027 (e)(i) | 1/1/2027 | 0.00% | 2074674 | 1959218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado Centre MD - Series A (IO) - 2027 (f)(i) | 1/1/2027 | 9.00% | 2131449 | 1278869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Swallow Academy - Series A - 2027 (m) | 11/15/2027 | 5.35% | 3110000 | 3057472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Addenbrooke Classical Academy - Series A - 2027 (m) | 6/1/2027 | 4.50% | 23400000 | 23357646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Imagine Charter School at Firestone - Series A - 2027 (m) | 6/1/2027 | 4.50% | 17075000 | 17044094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Academy Of Advanced Learning - Series A - 2027 (m) | 6/1/2027 | 4.38% | 8245000 | 8049264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Chavez/Huerta Preparatory - Series A - 2027 (m) | 7/1/2027 | 4.38% | 35975000 | 34043143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Swallows Charter Academy - Series A - 2027 (m) | 11/15/2027 | 4.38% | 6525000 | 6276332 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Vanguard Classical School - Series A - 2027 (m) | 7/1/2027 | 4.38% | 23685000 | 22950054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Third Future School - Series A - 2029 (m) | 7/1/2029 | 4.25% | 5645000 | 5223601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Grand Peak Academy - Series A - 2031 (m) | 7/1/2031 | 4.00% | 2150000 | 1956178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Grand Peak Academy - Series A - 2041 (m) | 7/1/2041 | 4.25% | 5040000 | 3884378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Grand Peak Academy - Series A - 2051 (m) | 7/1/2051 | 4.50% | 13070000 | 9391187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Doral Academy - Series A - 2028 (m) | 7/15/2028 | 4.50% | 19405000 | 18052860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Civica Career & Collegiate Academy - Series A - 2029 (m) | 7/15/2029 | 4.75% | 7790000 | 7496629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Chavez/Huerta Academy - Series A - 2027 (m) | 7/1/2027 | 4.50% | 8220000 | 7797328 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Mountain Sage Community School - Series A - 2029 (m) | 7/1/2029 | 4.75% | 3945000 | 3896358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Mountain Song Community School - Series A - 2029 (m) | 7/1/2029 | 4.75% | 5810000 | 5746613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA CEC / Aurora Charter School - Series A - 2032 (m) | 7/1/2032 | 5.00% | 76170000 | 75911022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA CEC / CSEC BC Project - Series A - 2032 (m) | 1/1/2032 | 4.88% | 3785000 | 3758089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA CEC / CSEC BC Project - Series A - 2037 (m) | 1/1/2037 | 5.00% | 3595000 | 3467809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA CEC / CSEC BC Project - Series A - 2042 (m) | 1/1/2042 | 5.13% | 40335000 | 37992343 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Global Village Academy - Senior Bonds - 2029 (m) | 6/15/2029 | 5.85% | 11630000 | 11630349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Fort Collins Montessori School - Series A - 2029 (m) | 7/1/2029 | 6.13% | 17790000 | 17799073 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Colorado Skies Academy - Series A - 2030 (m) | 7/1/2030 | 7.00% | 10595000 | 10757633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Global Village Academy - Series A - 2032 (m) | 6/15/2032 | 6.13% | 5175000 | 5204032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado Crossing MD #2 - Series A - 2047 | 12/1/2047 | 5.00% | 4000000 | 3671160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado Crossing MD #2 - Series A - 2050 | 12/1/2050 | 5.00% | 4000000 | 3594440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 700 Kalamath LLC - Series A - 2025 (a)(j) | 12/1/2025 | 0.00% | 3755000 | 3100000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hudson Asphalt Terminal Project – Series A – 2034 (m) | 10/1/2034 | 7.25% | 10000000 | 10328100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hudson Asphalt Terminal Project – Series B – 2034 (m) | 10/1/2031 | 9.75% | 10000000 | 10362700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado International Center MD #3 - Series A - 2031 | 12/1/2031 | 4.63% | 539000 | 517920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado Science & Tech Park MD #1 - Series B - 2039 | 12/15/2039 | 4.13% | 185000 | 176305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado Science & Tech Park MD #1 - Series B - 2044 | 12/15/2044 | 4.50% | 215000 | 201502 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado Science & Tech Park MD #1 - Series B - 2054 | 12/15/2054 | 4.75% | 635000 | 596938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Conestoga MD #2 - Series A - 2051 (g) | 12/1/2051 | 5.25% | 1625000 | 1387588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Conifer MD - Series A - 2030 (j) | 12/1/2030 | 0.00% | 10000000 | 4418533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Conifer MD - Series A - 2032 (j) | 12/1/2032 | 0.00% | 1450000 | 640687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Conifer MD - Series A - 2033 (j) | 12/1/2033 | 0.00% | 1550000 | 684873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Constitution Heights MD - Series A - 2049 | 12/1/2049 | 5.00% | 1758000 | 1584398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Copperleaf MD #9 - Series A - 2051 (g) | 12/1/2051 | 4.88% | 8175000 | 6225753 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Country Club Highlands MD - Series A - 2037 | 12/1/2037 | 7.25% | 1030000 | 947600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Crowfoot Valley Ranch MD #2 - Series B - 2054 (g) | 12/15/2054 | 6.13% | 2750000 | 2653860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dakota Ridge MD - Series A - 2052 (g) | 12/1/2052 | 6.00% | 2339000 | 2282303 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deer Creek Villas MD - Series A - 2055 | 12/1/2055 | 5.00% | 6085000 | 5350723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Denver Intl Business Center MD #1 - Series B - 2048 (g) | 12/1/2048 | 6.00% | 4578000 | 4590818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; E86 MD - Series A - 2051 (g) | 12/1/2051 | 5.13% | 4060000 | 3371911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eagle Brook Meadows MD #3 - Series A – 2051 (g) | 12/1/2051 | 5.00% | 1600000 | 1419104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eastern Hills MD #10 - Series A - 2055 | 12/1/2055 | 6.00% | 8755000 | 8768833 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eastern Hills MD #10 - Series B - 2055 (g) | 12/15/2055 | 8.25% | 1802000 | 1804234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Elora MD - Series A - 2055 | 12/1/2055 | 6.00% | 5000000 | 5017300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Erie Highlands MD #2 - Series A - 2048 | 12/1/2048 | 5.25% | 6000000 | 5784960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Erie Highlands MD #2 - Series B - 2048 (g) | 12/15/2048 | 7.63% | 1819000 | 1820419 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fitzsimons Village MD #1 - Series A - 2049 | 12/1/2049 | 5.00% | 1037000 | 945972 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fitzsimons Village MD #1 - Series B - 2049 (g) | 12/15/2049 | 7.00% | 611000 | 605807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fitzsimons Village MD #3 - Series A - 2026 | 12/1/2026 | 4.00% | 1640000 | 1635916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fitzsimons Village MD #3 - Series A - 2031 | 12/1/2031 | 4.00% | 500000 | 487750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fitzsimons Village MD #3 - Series A - 2041 | 12/1/2041 | 4.00% | 4445000 | 3796875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fitzsimons Village MD #3 - Series A - 2055 | 12/1/2055 | 4.25% | 9660000 | 7701242 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flying Horse MD #2 - Series B - 2050 (g)(m) | 12/15/2050 | 7.25% | 15405000 | 15367566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flying Horse MD #3 - Series A - 2049 (g) | 12/1/2049 | 6.00% | 2965000 | 2880023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gold Hill North BID - Series A - 2054 (m) | 12/1/2054 | 5.60% | 3600000 | 3360996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Golden Eagle Acres MD #2 - Series A - 2051 (g) | 12/1/2051 | 4.50% | 2150000 | 1692115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Golden Overlook MD - Series A - 2054 | 12/1/2054 | 6.13% | 4500000 | 4541175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Golden Overlook MD - Series B - 2054 (g) | 12/15/2054 | 8.75% | 1347000 | 1355809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Green Gables MD #2 - Series B – 2053 (g) | 12/15/2053 | 8.25% | 2984000 | 3028969 |

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| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Green Valley Ranch East MD #6 - Series A - 2050 | 12/1/2050 | 5.88% | 3325000 | 3369688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Greenspire MD #1 - Series A - 2051 | 12/1/2051 | 5.13% | 1925000 | 1649186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Greenways MD #1 - Series A - 2051 (g) | 12/1/2051 | 4.63% | 6845000 | 5112804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hess Ranch MD #6 - Series A - 2049 | 12/1/2049 | 5.00% | 5000000 | 4416850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hidden Creek MD - Series A - 2045 (g) | 12/1/2045 | 4.63% | 3430000 | 2790888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Highlands Mead MD - Series A - 2050 | 12/1/2050 | 5.13% | 1395000 | 1308454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hogback MD - Series A - 2041 | 12/1/2041 | 5.00% | 725000 | 674613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hogback MD - Series A - 2051 | 12/1/2051 | 5.00% | 1550000 | 1381779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Horizon MD #2 - Series A - 2051 (g) | 12/1/2051 | 4.50% | 11657000 | 8701135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hunter's Overlook MD #7 - Series A - 2051 (g) | 12/1/2051 | 5.50% | 3525000 | 3116770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hyland Village MD - Series A - 2027 | 12/1/2027 | 10.00% | 4770000 | 4102200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Independence MD #3 - Series A – 2054 | 12/1/2054 | 5.38% | 4500000 | 4287825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inspiration MD - Series B - 2036 (g) | 12/15/2036 | 5.00% | 732000 | 663543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jay Grove MD - Series A - 2051 (g) | 12/1/2051 | 4.25% | 2450000 | 1796316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jeffco Business Center MD #1 - Series A - 2025 (j) | 5/1/2028 | 8.00% | 1006000 | 1020918 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jefferson Center MD #1 - Series B - 2050 (g) | 12/15/2050 | 5.75% | 14414000 | 14409243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Karl's Farm MD #2 - Series A - 2040 | 12/1/2040 | 5.38% | 1155000 | 1193785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Karl's Farm MD #2 - Series A - 2050 | 12/1/2050 | 5.63% | 3030000 | 3132990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Karl's Farm MD #2 - Series B - 2049 (g) | 12/15/2044 | 6.20% | 567000 | 569291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lafferty Canyon MD - Series A - 2055 | 12/1/2055 | 5.63% | 1500000 | 1428990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lafferty Canyon MD - Series B - 2055 (g) | 12/1/2055 | 8.00% | 835000 | 843175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Lakes MD #4 - Series A - 2061 (g) | 12/1/2061 | 5.50% | 20080000 | 16899529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lanterns MD #2 - Series A - 2050 (g) | 12/1/2050 | 4.50% | 12492000 | 9193362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Legato Community Authority - Series A - 2036 | 12/1/2036 | 4.00% | 2130000 | 1760999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Legato Community Authority - Series A - 2046 | 12/1/2046 | 5.00% | 1000000 | 854520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Legato Community Authority - Series A - 2051 | 12/1/2051 | 5.00% | 2500000 | 2062550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Littleton Village MD #3 - Series B - 2055 (m) | 12/15/2055 | 6.25% | 2850000 | 2871660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loretto Heights Community Authority - Series A - 2051 (g) | 12/1/2051 | 4.88% | 12750000 | 9610313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marin MD - Series A - 2028 (a)(j) | 12/1/2028 | 0.00% | 17485000 | 1573650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mayfield MD - Series A - 2050 | 12/1/2050 | 5.75% | 1182000 | 1168773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mayfield MD - Series B - 2050 (g) | 12/15/2050 | 8.25% | 622000 | 623785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mayfield MD - Series C - 2050 | 12/15/2050 | 3.00% | 766000 | 331448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Meadows MD #1 - Series A - 2029 (k) | 6/1/2029 | 8.00% | 30730000 | 30404569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Meadows MD #2 - Series A - 2029 (k) | 6/1/2029 | 8.00% | 23830000 | 23577640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Meadows MD #7 - Series A - 2029 (k) | 6/1/2029 | 8.00% | 15440000 | 15276490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Meadowlark MD - Series A - 2040 | 12/1/2040 | 4.88% | 1032000 | 1008832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Meadowlark MD - Series A - 2050 | 12/1/2050 | 5.13% | 1505000 | 1407747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mineral BID - Series A - 2054 (m) | 12/1/2054 | 5.75% | 1750000 | 1692775 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mirabelle MD #2 - Series B - 2049 (g) | 12/15/2049 | 6.13% | 2000000 | 1929860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Monument Junction MD #1 - Series A - 2051 (g) | 12/1/2051 | 5.75% | 12258000 | 10954239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mount Carbon MD - Series C - 2043 | 6/1/2043 | 0.00% | 521078 | 521250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mountain Brook MD - Series A - 2051 | 12/1/2051 | 4.75% | 7740000 | 5898964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mountain Brook MD - Series A - 2041 | 12/1/2041 | 4.50% | 1000000 | 812580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mountain Shadows MD - Series A - 2035 | 12/1/2035 | 5.00% | 488000 | 488522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Muegge Farms MD #1 - Series A - 2051 (g) | 12/1/2051 | 5.00% | 6300000 | 5127192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Muegge Farms MD #3 - Series A - 2051 (g) | 12/1/2051 | 5.50% | 10431000 | 8675150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Murphy Creek MD #5 - Series A - 2052 | 12/1/2052 | 6.00% | 2645000 | 2491907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Newlin Crossing MD - Series A - 2054 (m) | 12/1/2054 | 5.38% | 1150000 | 1074100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Newlin Crossing MD - Series B - 2054 (g)(m) | 12/1/2054 | 7.75% | 604000 | 606646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nine Mile MD - Series A - 2030 | 12/1/2030 | 4.63% | 1125000 | 1128994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nine Mile MD - Series A - 2040 | 12/1/2040 | 5.13% | 2500000 | 2444800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; North Range MD #3 - Series A - 2040 | 12/1/2040 | 5.00% | 2000000 | 1969000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Painted Prairie Improvement Authority - Series A - 2029 | 12/1/2029 | 4.00% | 1000000 | 906170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Parkdale Community Authority - Series A - 2040 | 12/1/2040 | 5.00% | 3140000 | 3243526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Parkdale Community Authority - Series A - 2050 | 12/1/2050 | 5.25% | 5620000 | 5807596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Parkdale Community Authority - Series B - 2050 (g) | 12/15/2050 | 7.75% | 2424000 | 2513882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Parkdale Community Authority MD #2 - Series B - 2053 (g) | 12/15/2053 | 9.00% | 1391000 | 1403046 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Parker Automotive MD - Series A - 2045 | 12/1/2045 | 5.00% | 1819000 | 1866967 |

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| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Parterre MD #5 - Series A - 2045 | 12/1/2045 | 5.88% | 1500000 | 1534260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Parterre MD #5 - Series A - 2055 | 12/1/2055 | 6.13% | 2250000 | 2313923 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Parterre MD #5 - Series B - 2054 (g) | 12/1/2054 | 8.38% | 1450000 | 1445839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pinery Commercial MD 2 - Series A - 2054 | 12/1/2054 | 5.75% | 3200000 | 3091072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pioneer Community Authority - Series B - 2050 (g) | 12/15/2050 | 6.75% | 24592000 | 23588892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Plaza MD #1 - Series A - 2040 (m) | 12/1/2040 | 5.00% | 7850000 | 7711919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Powhaton Community Authority - Series A - 2051 (g) | 12/1/2051 | 5.00% | 7450000 | 6309703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pronghorn Valley MD - Series A - 2041 | 12/1/2041 | 3.75% | 515000 | 425457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pronghorn Valley MD - Series A - 2051 | 12/1/2051 | 4.00% | 4400000 | 3425796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reata Ridge Village MD #2 - Series A - 2049 | 12/1/2049 | 5.00% | 1760000 | 1556790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Remuda Ridge MD - Series A - 2051 (g) | 12/1/2051 | 5.63% | 5520000 | 4632991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve MD #2 - Series A - 2045 | 12/1/2045 | 5.00% | 500000 | 461795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ritoro MD - Series B - 2057 (g) | 12/15/2057 | 6.25% | 658000 | 645755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Riverdale Peaks II MD - Series A - 2035 | 12/1/2035 | 6.50% | 1135000 | 1021500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Riverpark MD - Series A - 2054 | 12/1/2054 | 6.38% | 1415000 | 1399647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Riverview MD - Series A - 2041 | 12/1/2041 | 5.00% | 1105000 | 1010523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Riverview MD - Series A - 2051 | 12/1/2051 | 5.00% | 2075000 | 1749038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rock Creek MD - Series A - 2041 | 12/1/2041 | 4.50% | 2230000 | 1780945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rock Creek MD - Series A - 2050 | 12/1/2050 | 4.75% | 3880000 | 2907090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rock Creek MD - Series A - 2031 (g) | 12/1/2031 | 4.00% | 3432000 | 3124287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rose Farm Acres MD - Series A - 2050 | 12/1/2050 | 5.00% | 2935000 | 2584179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rose Farm Acres MD - Series B - 2050 (g) | 12/15/2050 | 8.75% | 910000 | 912557 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RRC MD #2 - Series A - 2051 (g) | 12/1/2051 | 5.25% | 5625000 | 4771913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sabell MD - Series A - 2050 (g) | 12/1/2050 | 5.00% | 1053000 | 979353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sabell MD - Series B - 2050 (g) | 12/15/2050 | 8.25% | 605000 | 606307 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Scott Gulch MD - Series A - 2053 (m) | 12/1/2053 | 6.50% | 3160000 | 3043080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Scott Gulch MD - Series B - 2053 (g)(m) | 12/15/2053 | 8.75% | 694000 | 697817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Silver Peaks East MD - Series A - 2051 (g) | 12/1/2051 | 5.00% | 5410000 | 4461357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64th Avenue ARI Authority - Series A - 2043 (g) | 12/1/2043 | 6.50% | 5000000 | 4946250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sky Dance MD #2 - Series A - 2054 | 12/1/2054 | 6.00% | 2500000 | 2480300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sojourn At Idlewild MD - Series A - 2055 (m) | 12/1/2055 | 6.13% | 2500000 | 2506250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Solitude MD - Series A - 2026 (j) | 12/1/2026 | 7.00% | 3520000 | 3180478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Southlands MD #1 - Series A - 2037 | 12/1/2037 | 5.00% | 500000 | 490185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Southlands MD #1 - Series A - 2047 | 12/1/2047 | 5.00% | 3000000 | 2774910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Southshore MD #2 - Series B - 2041 (g) | 12/15/2041 | 4.13% | 9690000 | 9159473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spring Hill MD #3 - Series A - 2052 | 12/1/2052 | 6.75% | 1220000 | 1212021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spring Valley MD #4 - Series A - 2040 | 12/1/2040 | 5.00% | 1410000 | 1264615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spring Valley MD #4 - Series A - 2050 | 12/1/2050 | 5.12% | 1775000 | 1487823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spring Valley MD #4 - Series B - 2050 (g) | 12/15/2050 | 7.63% | 2811000 | 2790199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sterling Ranch Community Authority - Series A - 2054 | 12/1/2054 | 6.50% | 1000000 | 1014510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sterling Ranch MD # 4/B - Series A - 2054 | 12/1/2054 | 5.75% | 2305000 | 2238939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sterling Ranch MD #2 - Series A - 2032 | 12/1/2032 | 5.25% | 1340000 | 1348991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sterling Ranch MD #2 - Series A - 2042 | 12/1/2042 | 5.50% | 5645000 | 5617735 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sterling Ranch MD #2 - Series A - 2051 | 12/1/2051 | 5.75% | 11750000 | 11626390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stone Ridge MD #2 - Series A - 2031 | 12/1/2031 | 0.00% | 11896000 | 1903360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Third Creek MD #1 - Series A - 2037 | 12/1/2037 | 4.50% | 1130000 | 969122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Third Creek MD #1 - Series A - 2042 | 12/1/2042 | 4.50% | 3140000 | 2476078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Third Creek MD #1 - Series A - 2051 | 12/1/2051 | 4.75% | 7390000 | 5529420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Thompson Crossing MD #4 - Series A - 2039 | 12/1/2039 | 5.00% | 1410000 | 1383055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Thompson Crossing MD #4 - Series A - 2049 | 12/1/2049 | 5.00% | 1315000 | 1183553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trailside MD #4 - Series B - 2051 (g) | 12/15/2051 | 7.00% | 3249000 | 3266057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trailside MD #6 - Series A - 2053 (g) | 12/1/2053 | 7.75% | 2181000 | 2155330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Valagua MD - Series A - 2037 | 12/1/2037 | 0.00% | 11500000 | 2300000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vermilion Creek MD #3 - Series A - 2055 | 12/1/2055 | 5.87% | 10000000 | 10019000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vermilion Creek MD #3 - Series B - 2055 (g) | 12/15/2055 | 8.00% | 2185000 | 2189020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Villages At Murphy Creek MD #1 - Series A - 2051 (g) | 12/1/2051 | 5.50% | 12358000 | 10800398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vincent Village MD - Series A - 2051 | 12/1/2051 | 5.00% | 1970000 | 1610219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Water Valley MD #3 - Series A - 2054 | 12/1/2054 | 5.25% | 600000 | 560274 |

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| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Waterfall MD #1 - Series A - 2052 | 12/1/2052 | 5.25% | 2265000 | 2003913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Weems Neighborhood MD - Series A - 2055 (m) | 12/15/2055 | 5.88% | 1500000 | 1503795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Weems Neighborhood MD - Series B - 2055 (g)(m) | 12/15/2055 | 7.88% | 1149000 | 1150149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Westcreek MD #2 - Series A - 2048 | 12/1/2048 | 5.38% | 1284000 | 1210709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Westerly MD #4 - Series A - 2031 | 12/1/2031 | 4.13% | 600000 | 572334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Westerly MD #4 - Series A - 2040 | 12/1/2040 | 5.00% | 2255000 | 2137266 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Westerly MD #4 - Series A - 2050 | 12/1/2050 | 5.00% | 5250000 | 4776188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; White Buffalo MD #3 - Series A - 2050 | 12/1/2050 | 5.50% | 4780000 | 4587509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Woodmen Heights MD #2 - Series C - 2040 (g) | 12/15/2040 | 7.50% | 3358000 | 3358537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wyndham Hill MD #2 - Series B - 2049 (g) | 12/15/2049 | 7.63% | 9600000 | 9612672 |
| **Colorado (amortized cost $1,179,182,843)** |  |  | **1244328507**  | **1114935165**  |
| **Colorado Municipal Bonds (amortized cost $1,179,182,843)** |  |  | **$1244328507**  | **$1114935165**  |
| **Other Municipal Bonds 6.6%** | **Other Municipal Bonds 6.6%** | **Other Municipal Bonds 6.6%** | **Other Municipal Bonds 6.6%** | **Other Municipal Bonds 6.6%** |
|  **South Dakota 54.9%** | **South Dakota 54.9%** | **South Dakota 54.9%** | **South Dakota 54.9%** | **South Dakota 54.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Healthcare - Series A - 2036 (m) | 1/1/2036 | 5.75% | $6055000 | $4577943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Healthcare - Series A - 2031 (m) | 1/1/2031 | 5.50% | 3565000 | 3057130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Gaming - Series B - 2038 (g)(m) | 1/1/2038 | 6.00% | 6120000 | 5143432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Gaming - Series C - 2038 (m) | 1/1/2038 | 6.00% | 5450000 | 4580344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Gaming - Series A - 2027 (m) | 1/1/2027 | 8.28% | 1205000 | 1184611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Gaming - Series A - 2028 (m) | 1/1/2028 | 8.28% | 1305000 | 1277230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Gaming - Series A - 2033 (m) | 1/1/2033 | 8.28% | 8670000 | 8323807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Healthcare NH - Series A - 2026 (m) | 7/1/2026 | 5.75% | 785000 | 768413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Healthcare NH - Series A - 2027 (m) | 7/1/2027 | 5.75% | 830000 | 797464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Healthcare NH - Series A - 2028 (m) | 7/1/2028 | 5.75% | 875000 | 826140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Healthcare NH - Series A - 2029 (m) | 7/1/2029 | 5.75% | 930000 | 862919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Healthcare NH - Series A - 2030 (m) | 7/1/2030 | 5.75% | 980000 | 892613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Healthcare NH - Series A - 2031 (m) | 7/1/2031 | 5.75% | 1040000 | 931362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Healthcare NH - Series A - 2032 (m) | 7/1/2032 | 5.75% | 1095000 | 962615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Healthcare NH - Series A - 2033 (m) | 7/1/2033 | 5.75% | 1160000 | 1002518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Healthcare NH - Series A - 2034 (m) | 7/1/2034 | 5.75% | 1225000 | 1040099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Healthcare NH - Series A - 2035 (m) | 7/1/2035 | 5.75% | 1300000 | 1084057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Healthcare NH - Series A - 2040 (m) | 7/1/2040 | 6.00% | 7730000 | 6010539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Healthcare NH - Series A - 2045 (m) | 7/1/2045 | 6.25% | 10395000 | 7762154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oglala Sioux Tribe / Healthcare - Series A - 2028 (m) | 7/1/2028 | 5.50% | 1800000 | 1717992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oglala Sioux Tribe / Healthcare - Series A - 2037 (m) | 7/1/2037 | 6.00% | 9270000 | 7482837 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oglala Sioux Tribe / Healthcare - Series B - 2041 (m) | 9/1/2041 | 6.50% | 5700000 | 4539822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oglala Sioux Tribe - Series C - 2026 (m) | 10/1/2026 | 8.00% | 800000 | 798368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oglala Sioux Tribe - Series A - 2027 (m) | 10/1/2027 | 4.50% | 2370000 | 2246405 |
| **South Dakota (amortized cost $80,655,000)** |  |  | **80655000**  | **67870812**  |
|  **Utah 35.8%** | **Utah 35.8%** | **Utah 35.8%** | **Utah 35.8%** | **Utah 35.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arrowhead Springs PID - Series A - 2054 (m) | 12/1/2054 | 5.63% | 3200000 | 3100512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Coral Canyon IFD - Series A - 2053 (m) | 12/1/2053 | 5.50% | 13545000 | 12792846 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fields Estate PID - Series A - 2055 (m) | 12/1/2053 | 6.13% | 825000 | 802263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fields Estate PID - Series B - 2053 (m) | 3/15/2055 | 8.75% | 504000 | 494742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fields Estate PID - Series A2 - 2053 (g)(m) | 12/1/2053 | 5.25% | 2750000 | 2553018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jordanelle Ridge PID - Series B - 2055 (g)(m) | 3/15/2055 | 7.88% | 4000000 | 4005840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ares Strategic Mining - Series A - 2034 (m) | 12/15/2034 | 10.00% | 10000000 | 9228300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pointe West PID - Series A - 2053 (m) | 12/15/2053 | 5.50% | 3090000 | 2890232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Soleil Hills PID - Series A - 2055 (m) | 3/1/2055 | 5.88% | 2425000 | 2315123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Range IFD - Series A - 2053 (m) | 12/1/2053 | 5.50% | 6515000 | 6043575 |
| **Utah (amortized cost $45,901,619)** |  |  | **46854000**  | **44226450**  |
|  **Puerto Rico 7.7%** | **Puerto Rico 7.7%** | **Puerto Rico 7.7%** | **Puerto Rico 7.7%** | **Puerto Rico 7.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico - Series A - 2027 | 7/1/2027 | 5.63% | 102175 | 105147 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico - Series A - 2029 | 7/1/2029 | 5.63% | 100517 | 106026 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico - Series A - 2031 | 7/1/2031 | 5.75% | 97632 | 105309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico - Series A - 2033 | 7/1/2033 | 4.00% | 92580 | 90324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico - Series A - 2035 | 7/1/2035 | 4.00% | 83217 | 80125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico - Series A - 2037 | 7/1/2037 | 4.00% | 71422 | 68047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico - Series A - 2041 | 7/1/2041 | 4.00% | 97107 | 86297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico - Series A - 2046 | 7/1/2046 | 4.00% | 100990 | 86288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico - Series A - 2033 | 7/1/2033 | 4.64% | 119142 | 82366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico - Series A - 2043 | 7/1/2043 | 3.00% | 383020 | 235558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico / Sales Tax - Series A - 2034 | 7/1/2034 | 4.50% | 277000 | 276986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico / Sales Tax - Series A - 2040 | 7/1/2040 | 4.55% | 140000 | 134191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico / Sales Tax - Series A - 2053 | 7/1/2053 | 4.75% | 1028000 | 945112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico / Sales Tax - Series A - 2058 | 7/1/2058 | 5.00% | 2600000 | 2444338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico / Sales Tax - Series A - 2027 | 7/1/2027 | 4.41% | 267000 | 246751 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico / Sales Tax - Series A - 2029 | 7/1/2029 | 4.69% | 260000 | 221884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico / Sales Tax - Series A - 2031 | 7/1/2031 | 4.96% | 336000 | 262151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico / Sales Tax - Series A - 2033 | 7/1/2033 | 5.20% | 378000 | 268686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico / Sales Tax - Series A - 2046 | 7/1/2046 | 5.97% | 3597000 | 1138990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico / Sales Tax - Series A - 2051 | 7/1/2051 | 6.02% | 2930000 | 679877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico / Sales Tax - Series A - 2040 | 7/1/2040 | 4.33% | 1424000 | 1336168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico / Sales Tax - Series A - 2053 | 7/1/2053 | 4.54% | 43000 | 37355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Puerto Rico / Sales Tax - Series A - 2058 | 7/1/2058 | 4.78% | 571000 | 520335 |
| **Puerto Rico (amortized cost $9,030,582)** |  |  | **15098802** | **9558311** |
| **Washington 1.3%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tacoma / Local Improvement District #65 - Series A - 2043 | 4/1/2043 | 5.75% | 1695000 | 1658320 |
| **Washington (amortized cost $1,587,130)** |  |  | **1695000** | **1658320** |
| **California 0.2%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Freddie Mac – 2035 (g)(j) | 8/15/2035 | 6.50% | 241978 | 249230 |
| **California (amortized cost $241,978)** |  |  | **241978** | **249230** |
| **Other Municipal Bonds (amortized cost $137,416,309)** |  |  | **$144544780** | **$123563123** |
| **Short-Term Municipal Bonds 4.1%** | **Short-Term Municipal Bonds 4.1%** | **Short-Term Municipal Bonds 4.1%** | **Short-Term Municipal Bonds 4.1%** | **Short-Term Municipal Bonds 4.1%** |
| **Colorado 88.4%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Boulder College of Massage - Series A - 2031 (a)(j) | 10/15/2031 | 0.00% | $4315000 | $2031918 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CHFA / Ready Foods - Series A - 2032 (LOC 1) | 1/1/2032 | 2.80% | 3725000 | 3725000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado Springs Utilities - Series A - 2041 (LOC 1) | 11/1/2041 | 2.60% | 1100000 | 1100000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PFA / Monument Academy - Series A - 2026 (m) | 6/1/2026 | 5.00% | 27740000 | 27577166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Riverdale Peaks II MD - Series A - 2025 | 12/1/2025 | 6.40% | 930000 | 837000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sheridan Redevelopment Agency / Santa Fe - Series A - 2029 (LOC 3) | 12/1/2029 | 2.75% | 31660000 | 31660000 |
| **Colorado (amortized cost $69,470,000)** |  |  | **69470000** | **66931084** |
| **Oregon 7.7%** |  |  |  |  |
| Multnomah County Hospital - Series A - 2023 (j)(m) | 10/1/2025 | 5.45% | 5815000 | 5815000 |
| **Oregon (amortized cost $5,815,000)** |  |  | **5815000** | **5815000** |
| **South Dakota 3.2%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Healthcare - Series A - 2026 (m) | 1/1/2026 | 5.00% | 610000 | 600405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flandreau Santee Sioux Tribe / Gaming - Series A - 2026 (m) | 1/1/2026 | 8.28% | 1115000 | 1106615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Flandreau Santee Sioux Tribe / Healthcare NH - Series A - 2025 (m) | 7/1/2025 | 5.75% | 740000 | 740000 |
| **South Dakota (amortized cost $2,465,000)** |  |  | **2465000** | **2447020** |
| **Utah 0.6%** |  |  |  |  |
| Ares Strategic Mining / Taxable - Series A - 2025 (m) | 12/15/2025 | 12.00% | 500000 | 488720 |
| **Utah (amortized cost $452,381)** |  |  | **500000** | **488720** |
| **Puerto Rico 0.1%** |  |  |  |  |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Puerto Rico - Series A - 2025 | 7/1/2025 | 5.38% | 51483 | 51483 |
| **Puerto Rico (amortized cost $54,995)** |  |  | **51483** | **51483** |
| **Short-Term Municipal Bonds (amortized cost $78,257,376)** |  |  | **$78301483** | **$75733307** |
| **Colorado Capital Appreciation and Zero Coupon Bonds 2.1%** | **Colorado Capital Appreciation and Zero Coupon Bonds 2.1%** | **Colorado Capital Appreciation and Zero Coupon Bonds 2.1%** | **Colorado Capital Appreciation and Zero Coupon Bonds 2.1%** | **Colorado Capital Appreciation and Zero Coupon Bonds 2.1%** |
| **Colorado 100.0%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bella Mesa MD - Series A CABs - 2049 (m) | 12/1/2049 | 6.75% | $7565000 | $7538069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado International Center MD #7 - Series A CABs - 2027 | 12/1/2027 | 5.25% | 21285000 | 16349434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Conifer MD - Series B - 2031 (a)(j) | 12/1/2031 | 0.00% | 7470000 | 2309215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lanterns MD #3 - Series A CABs - 2053 | 12/1/2053 | 8.00% | 2250000 | 1778445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PV ERU Holding Trust - Series A CABs - 2039 (a)(j)(m) | 2/14/2039 | 0.00% | 710000 | 64667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PV ERU Holding Trust - Series A CABs - 2039 (a)(j)(m) | 2/14/2039 | 0.00% | 3122000 | 284352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PV ERU Holding Trust - Series A CABs - 2039 (a)(j)(m) | 2/14/2039 | 0.00% | 13168000 | 1199341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PV ERU Holding Trust - Series A CABs – 2039 (a)(j)(m) | 12/15/2037 | 0.00% | 14000000 | 1275119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Parkdale Community Authority MD #2 - Series A CABs – 2053 | 12/1/2027 | 7.75% | 5670000 | 4522676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Third Creek MD #1 - Series A CABs - 2026 | 12/1/2026 | 5.25% | 2285000 | 1587115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Westerly MD #4 - Series A CABs - 2050 | 12/1/2026 | 5.20% | 2000000 | 1836320 |
| **Colorado (amortized cost $48,106,674)** |  |  | **79525000** | **38744752** |
| **Colorado Capital Appreciation and Zero Coupon Bonds**<br> **(amortized cost $48,106,674)** |  |  | **$79525000** | **$38744752** |
| **Colorado Taxable Certificates/Notes/Bonds 0.4%** | **Colorado Taxable Certificates/Notes/Bonds 0.4%** | **Colorado Taxable Certificates/Notes/Bonds 0.4%** | **Colorado Taxable Certificates/Notes/Bonds 0.4%** | **Colorado Taxable Certificates/Notes/Bonds 0.4%** |
| **Colorado 100.0%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Colorado Skies Academy / Taxable - Series A2 – 2030 (j)(m) | 7/1/2030 | 8.00% | $935000 | $936854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA CEC / Aurora Charter School / Taxable - Series B – 2029 (m) | 7/1/2029 | 6.00% | 1960000 | 1949906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA CEC / Aurora Charter School / Taxable - Series A - 2031 (m) | 7/1/2031 | 6.13% | 1960000 | 1927954 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Colorado Skies Academy / Taxable - Series A1 – 2030 (m) | 7/1/2030 | 7.50% | 500000 | 513480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CECFA Global Village Academy - Series B - 2031 (m) | 6/15/2031 | 7.50% | 270000 | 271285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Woodmen Heights MD #2 / Taxable - Series B - 2040 (g) | 12/15/2040 | 6.25% | 1733000 | 1683627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tabernash Pole Creek Note – 2025 (a)(j) | 12/31/2025 | 0.00% | 227347 | 190000 |
| **Colorado (amortized cost $7,585,347)** |  |  | **7585347** | **7473106** |
| **Colorado Taxable Certificates/Notes/Bonds (amortized**<br> **cost $7,585,347)** |  |  | **$7585347** | **$7473106** |
| **Other Assets 0.1%** | **Other Assets 0.1%** | **Other Assets 0.1%** | **Other Assets 0.1%** | **Other Assets 0.1%** |
| **Utah 100.0%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ares Strategic Mining - Equity | 12/15/2034 | 0.00% | $6780500 | $1530935 |
| **Utah (amortized cost $1,000,000)** |  |  | **6780500** | **1530935** |
| **Other Assets (amortized cost $1,000,000)** |  |  | **$6780500** | **$1530935** |
| Total investments, at value (amortized cost $1,451,548,550) | 73.0% |  |  | $1361980388 |
| Other assets net of liabilities | 27.0% |  |  | 503028333 |
| Net Assets | 100.0% |  |  | $1865008721 |

---

------

**COLORADO BONDSHARES - A TAX-EXEMPT FUND** 

**Schedule of Investments (unaudited) - (Continued)** 

(a) Defaulted or non-income producing based upon the financial condition of the issuer (see "Defaulted or Non-Income Producing Investments" note to Schedule of Investments).

(b) Originally issued as general obligation bonds but are now pre-refunded and are secured by an escrow fund consisting entirely of direct U.S. Government obligations.

(c) Represents securities whose blended characteristics are reflective of a zero coupon bond and a step rate bond. Interest rate shown represents effective yield at acquisition.

(d) Interest rate shown for capital appreciation and zero coupon bonds represents the effective yield at the date of acquisition.

(e) Principal-only certificate represents the right to receive the principal payments on the underlying debt security upon maturity. The price of this security is typically more volatile than that of coupon-bearing bonds of the same maturity.

(f) Interest-only certificate represents the right to receive semi-annual interest payments on the underlying debt security. The principal amount of the underlying security represents the notional amount on which current interest is calculated. The interest rate shown represents the effective yield at the date of acquisition.

(g) Interest rate disclosed for cash flow bond represents the effective yield at June 30, 2025. Income on this security is derived from the cash flow of the issuer.

(h) Represents current interest rate for a step rate bond. No step rate bonds were owned by the Fund at June 30, 2025.

(i) Terms of security have been restructured since the original issuance. The total face amount of all such restructured securities approximates $10,798,429 and a value of $6,204,625 or less than 1.0% of net assets, as of June 30, 2025.

(j) Securities valued at fair value (see "Investment Valuation and Risk" notes to the Schedule of Investments).

(k) See "Purchase Accrued Interest" notes to Schedule of Investments for further information on purchase accrued interest related to these bonds.

(l) The Fund is not a party to any forbearance agreements as of June 30, 2025.

(m) Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At June 30, 2025, the aggregate value was $578,615,233 representing 31.02% of net assets.

------

**COLORADO BONDSHARES - A TAX-EXEMPT FUND** 

**Schedule of Investments - (unaudited) - (Continued)** 

**June 30, 2025** 

---

| | |
|:---|:---|
| (LOC) | These securities are Variable Rate Demand Obligations ("VRDO") with scheduled principal and interest payments that have a guaranteed liquidity provider in the form of a letter of credit. These obligations bear interest at a rate that resets daily or weekly (see "Investment Transactions" notes to Schedule of Investments). The numbered list below corresponds to the liquidity provider associated with the respective LOC. |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. US Bank, N.A. |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. BNP Paribas |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. JP Morgan Chase Bank N.A. |
|  | The following abbreviations are used in the descriptions of securities included in the Schedule of Investments: |
|  | CABs-Capital Appreciation Bonds |
|  | CONV-Convertible |
|  | I/O-Interest Only |
|  | L/D-Local Improvement District |
|  | MD-Metropolitan District |
|  | P/O-Principal Only |

---

------

**COLORADO BONDSHARES - A TAX-EXEMPT FUND** 

**Notes to Schedule of Investments** 

**June 30, 2025 (unaudited)** 

**Defaulted or Non-income Producing Investments** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Fund discontinues the accrual of interest income on municipal bonds when the securities become delinquent as to payment of principal or interest, or when the Fund's investment adviser determines that an uncertainty exists as to the realization of all or a portion of the principal balance. The face amount of bonds for which the accrual of interest income has been discontinued approximates $64,252,347 and such bonds have a value of $12,028,262 or 0.64% of net assets, as of June 30, 2025. These securities have been identified in the accompanying Schedule of Investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Fund is not a party to any forbearance agreements as of June 30, 2025.

**Investment Valuation and Risk** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The fair value of securities for which there is no last sales price is determined either by an independent pricing service or management, considering market transactions and dealer quotes of comparable securities as well as proprietary pricing models.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities for which market quotations are not readily available (or management considers otherwise are no longer valid or reliable) are valued at fair value determined in accordance with procedures approved by the Board of Trustees. This can occur in the event of, among other things, natural disasters, acts of terrorism, market disruptions, intra-day trading halts, and extreme market volatility. The determination of fair value involves subjective judgments. As a result, using fair value to price a security may result in a price materially different from the prices used by other mutual funds to determine net asset value or the price that may be realized upon the actual sale of the security. Short-term holdings are valued at current market quotations or amortized cost, whichever management believes best approximates fair value.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fixed-income securities owned by the Fund are subject to interest-rate risk, credit risk, prepayment risk and market risk. The Fund invests in non-rated securities which may be subject to a greater degree of credit risk and risk of loss of income and principal and may be more sensitive to economic conditions than lower yielding, higher rated fixed income securities. The Fund concentrates its investments in Colorado and, therefore, may be impacted by specific events, issuers or factors affecting Colorado. The Fund has more credit risk related to the economic conditions of Colorado than a portfolio with a broader geographical diversification. The Fund concentrates its investments in and the majority of the Fund's shareholders are located within Colorado and, therefore, may be impacted by specific events, issuers or factors affecting Colorado. The Company does not have any significant concentrations within any one shareholder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounting Standards Codification ("ASC") 820 Fair Value Measurements and Disclosures establishes a fair value hierarchy that classifies securities based on valuation techniques used to measure fair value and distinguish between observable inputs (market data obtained from independent sources) and the reporting entities own assumptions, which are not readily observable to market participants. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Level 1 Inputs:** Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Level 2 Inputs:** Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. If the asset or liability has a specified (contractual) term, a Level 2 input must be observable for substantially the full term of the asset or liability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Level 3 Inputs:** Significant unobservable inputs for the asset or liability including management's own assumptions. Unobservable inputs shall be used to measure fair value to the extent that observable inputs are not available.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table summarizes the valuation of the Fund's investments as defined by ASC 820 hierarchy levels as of June 30, 2025:

**Valuation Inputs Summary** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Colorado Municipal<br>Bonds** | **Other Municipal<br>Bonds** | **Short-Term Municipal<br>Bonds** | **Colorado Capital<br>Appreciation and<br>Zero Coupon Bonds** | **Colorado Taxable<br>Certificates/Notes/Bonds** | **Other<br>Assets** | **Total Securities<br>June 30,**<br> **2025** |
|  Level 1 Securities | $- | $- | $- | $- | $- | $1530935 | $1530935 |
|  Level 2 Securities | 1100316026 | 123313893 | 67886389 | 33612058 | 6346252 |  | 1331474618 |
|  Level 3 Securities | 14619139 | 249230 | 7846918 | 5132694 | 1126854 |  | 28974835 |
|  Totals | $1114935165 | $123563123 | $75733307 | $38744752 | $7473106 | $1530935 | $1361980388 |

---

**Purchase Accrued Interest** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchase accrued interest is typically a component of a municipal bond purchase and is paid on settlement date. The accrual period begins on the last interest payment date (or original issue date) and runs through the day immediately preceding the settlement date. The Fund has purchased three bonds from the Meadows Metropolitan Districts No. 1, 2 and 7 with an aggregate balance of purchase accrued of $90,436,317 (98.1% of the June 30, 2025 balance of $92,156,671). Approximately $279,744,045 of additional interest has accrued on the purchase accrued interest since its purchase in 2007. This additional accrued interest has been fair valued in accordance with ASC 820 at approximately $105,221,105 and is included in other assets net of liabilities in the Schedule of Investments. This amount bears interest at the rate of 7.999% and will be received over an uncertain period of years. The value of the Meadows bonds is contained within three separate line items of the financial statements which all relate to a single set of bonds that cannot be sold separately.

------

**Investment Transactions** 

Variable Rate Demand Obligations ("VRDO") purchased by the Fund are floating rate obligations that have a nominal long-term maturity but have a coupon rate that is reset periodically (e.g., daily or weekly). The investor has the option to put the issue back to the trustee or tender agent at any time with specified (e.g., seven days) notice; accordingly, the Fund treats these obligations as short-term holdings. On June 30, 2025 the interest rates paid on these obligations ranged from 2.60% to 2.80%.

**Income Tax Information** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At June 30, 2025 the cost and unrealized appreciation (depreciation) of investments, as determined on a federal income tax basis, were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Colorado Municipal<br>Bonds** | **Other Municipal<br>Bonds** | **Short-Term Municipal<br>Bonds** | **Colorado Capital<br>Appreciation and<br>Zero Coupon Bonds** | **Colorado Taxable<br>Certificates/Notes/Bonds** | **Other<br>Assets** | **Totals** |
|  Cost of investments | $1179182843 | $137416309 | $78257376 | $48106674 | $7585347 | $1000000 | $1451548549 |
|  Gross unrealized appreciation | $13909139 | $852391 | $36339 | $2074953 | $16619 | $530935 | $17420376 |
|  Gross unrealized depreciation | (78156817) | (14705576) | (2560408) | (11436876) | (128860) | 0 | (106988537) |
|  Net unrealized appreciation (depreciation) of investments | ($64247678) | ($13853185) | ($2524069) | ($9361923) | ($112241) | $530935 | ($89568161) |

---

**Litigation** 

The Fund is periodically involved in various legal proceedings. As of June 30, 2025, the Fund has a litigation payable of $183,645 for all pending litigation matters primarily for the purpose of paying lawyer fees. Possible additional amounts cannot be currently estimated but will be set aside as needed. Although there can be no assurances, based on information available, management believes that it is probable that the ultimate outcome of the action described below and other matters that are pending or threatened will not have a material effect on the Fund's financial condition.

**Marin Metropolitan District LTD Tax G.O. Series 2008 Bond** 

The Fund is the beneficial owner of bonds issued in 2008 (the "Bonds") by Marin Metropolitan District (the "District") as described more fully in the Fund's most recent semi-annual report for the period ended March 31, 2025 that was filed with the Securities and Exchange Commission ("SEC") on June 4, 2025. The Bonds were issued in 2008 pursuant to a trust indenture (the "Trust Indenture") between the District, as issuer and UMB Bank, N.A. ("UMB"), as trustee (the "Trustee"). The original principal amount of Bonds was $30,485,000. The current principal amount of the Bonds is $17,485,000. The valuation of these Bonds as of June 30, 2025, is set forth in the schedule of investments.

On about June 24, 2022, the District filed an Amended Complaint for Declaratory and Injunctive Relief (the "Complaint") against the Fund and the Trustee with the District Court, Arapahoe County, Colorado (the "Court"). The Complaint also names Century at Landmark, LLC, a Colorado limited liability company ("Century") as an "Interested Party" in the Complaint on the grounds that Century is the owner of the real property remaining in the District. In the Complaint, the District has asserted a single claim for relief for declaratory judgment. In essence, based on the rulings in Landmark Towers Association, Inc. v. UMB Bank, N.A. and Colorado BondShares (District Court, Arapahoe County, Colorado Case No. 11CV1076) (the "Landmark Litigation"), the District has requested that the Court declare that the Fund and the Trustee cannot compel the District to impose a tax levy on Century's parcel of real property within the District and that, further, the Court enjoin the Fund and the Trustee from attempting to compel the District to impose the Required Mill Levy (as such term is defined in the Trust Indenture) on Century's parcel of real property within the District. In response, the Fund and the Trustee filed Amended Counterclaims for breach of the District's resolution authorizing public debt in accordance with, and as required by, the Colorado Constitution (the "Bond Resolution"), declaratory judgment for breach of the Bond Resolution, declaratory judgment that the District has violated Colo. Const. art. XI, section 6 and the Bond Resolution, breach of the Trust Indenture, declaratory judgment that the District has violated the Trust Indenture, promissory estoppel and unjust enrichment (the collectively, the "Counterclaims"). The Counterclaims seek a judgment in the full amount due and owing on the Bonds with accrued interest along with a declaration that the District is obligated to impose the Required Mill Levy under the terms of the Trust Indenture.

On October 16 and 17, 2023, the Court held a two-day non-jury trial on all remaining issues presented in the Complaint and the Counterclaims. On May 2, 2024, the Court issued Findings of Fact and Conclusions of Law and Orders After Trial to Court finding in favor of the District and against the Fund, which precludes the Fund from seeking repayment of the amounts owed. The Fund filed a Notice of Appeal to the Colorado Court of Appeals on June 18, 2024. Oral arguments on the appeal occurred on May 20, 2025, and the court decided against us on June 12, 2025. The Fund will appeal this decision to the Colorado State Supreme Court. At this point, it is impossible to determine the direction, cost, duration or ultimate outcome of these matters.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** COLORADO BONDSHARES A TAX EXEMPT FUND

- **b. Investment Company Act file number:** 811-05009

- **c. CIK number of Registrant:** 0000810744

- **d. LEI of Registrant:** 5493004J1EX5YAL0BM32

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

  - **Street Address 1:** 1200 17th Street

  - **City:** Denver

  - **State:** CO

  - **Foreign country:** US

  - **Zip / Postal Code:** 80202

  - **Telephone number:** 3035726990

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

- **a. Name of Series:** Colorado BondShares A Tax Exempt Fund

- **b. EDGAR series identifier (if any):** S000012064

- **c. LEI of Series:** 549300KYLYKP76VSWS05

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

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1882077008.51

**Total Liabilities:** $17068287.85

**Net Assets:** $1865008720.66

**Cash Not Reported:** $503028332.30

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 29.138882160000 | **1-Year:** 0.000000000000 | **5-Year:** 0.000000000000 | **10-Year:** 7096.787180549695 | **30-Year:** 2143.924991217963

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

- **3-Month:** 1594.972299614463 | **1-Year:** 47422.640695773702 | **5-Year:** 115516.986396300862 | **10-Year:** 295042.743706757186 | **30-Year:** 326926.148025812430

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000032818 | -0.91%               | 0.70%                | 0.81%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3500.00                 | $-24010218.89                              |
| Month 2  | $924390.00               | $6017486.04                                |
| Month 3  | $104580.00               | $7655902.49                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ARROWHEAD SPRINGS PUB INFRASTRUCTURE DIST UTAH         | UT ARWFAC 5.62 12/01/2054                                                 | CUSIP: 04280BAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3200000 | PA      | $3100512.00   | 0.17%             | 2054-12-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| ASPEN STR MET DIST COLO                                | CO ASNGEN 5.12 12/01/2050                                                 | CUSIP: 045312AA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4300000 | PA      | $3484333.00   | 0.19%             | 2050-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| BANNING LEWIS RANCH REGL MET DIST COLO                 | CO BANFAC 5.38 12/01/2048                                                 | CUSIP: 066639AA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2315225.00   | 0.12%             | 2048-12-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BANNING LEWIS RANCH REGL MET DIST COLO                 | CO BANFAC 7.75 12/15/2041                                                 | CUSIP: 066639AB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $626231.25    | 0.03%             | 2041-12-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| BASE VLG MET DIST NO 2 COLO                            | CO BSEFAC 6.5 12/15/2048                                                  | CUSIP: 069781AC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $2683975.00   | 0.14%             | 2048-12-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BELFORD NORTH MET DIST COLO                            | CO BFNDEV 5.5 12/01/2050                                                  | CUSIP: 077690AA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3450320.00   | 0.19%             | 2050-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BELFORD NORTH MET DIST COLO                            | CO BFNDEV 8.5 12/15/2050                                                  | CUSIP: 077690AB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3475000 | PA      | $3483548.50   | 0.19%             | 2050-12-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| BELLA MESA MET DIST COLO                               | CO BLMGEN 0 12/01/2049                                                    | CUSIP: 07819PAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7565000 | PA      | $7538068.60   | 0.40%             | 2049-12-01      | Variable      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| BENNETT CROSSING MET DIST NO 1 COLO                    | CO BCRFAC 6.12 12/01/2049                                                 | CUSIP: 082160AA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6160000 | PA      | $6188459.20   | 0.33%             | 2049-12-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| BENNETT RANCH MET DIST NO 1 COLO                       | CO BNRDEV 5 12/01/2051                                                    | CUSIP: 08218DAB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2455350.00   | 0.13%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BENNETT RANCH MET DIST NO 1 COLO                       | CO BNRDEV 7.5 12/15/2051                                                  | CUSIP: 08218DAC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1221000 | PA      | $1212062.28   | 0.06%             | 2051-12-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BENT GRASS MET DIST COLO                               | CO BGMDEV 5.75 12/01/2054                                                 | CUSIP: 082623AB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7180000 | PA      | $7208002.00   | 0.39%             | 2054-12-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| BOULDER CNTY COLO                                      | CO BOUDEV 6.35 10/15/2031                                                 | CUSIP: 10146BEG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4315000 | PA      | $2031918.01   | 0.11%             | 2031-10-15      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| BRADBURN MET DIST NO 2 COLO                            | CO BRAGEN 7.5 12/15/2051                                                  | CUSIP: 103844AG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3271000 | PA      | $3108431.30   | 0.17%             | 2051-12-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BRAMMING FARM MET DIST NO 1 COLO                       | CO BRMFAC 6 12/01/2044                                                    | CUSIP: 105111AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1845000 | PA      | $1848007.35   | 0.10%             | 2044-12-01      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| BRIGHTON CROSSING MET DIST NO 6 COLO                   | CO BTCGEN 5 12/01/2035                                                    | CUSIP: 10933PAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $524249.25    | 0.03%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRIGHTON CROSSING MET DIST NO 6 COLO                   | CO BTCGEN 5 12/01/2040                                                    | CUSIP: 10933PAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1545000 | PA      | $1475135.10   | 0.08%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRIGHTON CROSSING MET DIST NO 6 COLO                   | CO BTCGEN 5 12/01/2050                                                    | CUSIP: 10933PAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9020000 | PA      | $8228495.00   | 0.44%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BROOMFIELD VLG MET DIST NO 2 COLO                      | CO BROFAC 5 12/01/2049                                                    | CUSIP: 114779AE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1417000 | PA      | $1261781.82   | 0.07%             | 2049-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CANYONS MET DIST NO 5 COLO                             | CO CNYFAC 6.5 12/15/2054                                                  | CUSIP: 139071AZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2064000 | PA      | $2058220.80   | 0.11%             | 2054-12-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CASTLEVIEW MET DIST NO 2 COLO                          | CO CTVGEN 5 12/01/2050                                                    | CUSIP: 14859RAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3435000 | PA      | $2882205.45   | 0.15%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CASTLEVIEW MET DIST NO 1 COLO                          | CO CVWDEV 5 12/01/2050                                                    | CUSIP: 14860EAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4727000 | PA      | $3697364.86   | 0.20%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHERRY CREEK COLO SOUTH MET DIST NO 5                  | CO CCKFAC 6 12/01/2051                                                    | CUSIP: 16456CAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  22500000 | PA      | $19914750.00  | 1.07%             | 2051-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CHERRY HILLS CITY MET DIST COLO                        | CO CHLFAC 5 12/01/2047                                                    | CUSIP: 164684AA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1242560.00   | 0.07%             | 2047-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CIELO MET DIST COLO                                    | CO CIEGEN 5.25 12/01/2050                                                 | CUSIP: 17190EAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12442000 | PA      | $10374139.60  | 0.56%             | 2050-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CITY CTR WEST RESIDENTIAL MET DIST NO 2 COLO           | CO CWRDEV 5 12/01/2049                                                    | CUSIP: 17776QAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2080000 | PA      | $1820416.00   | 0.10%             | 2049-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY CTR WEST RESIDENTIAL MET DIST NO 2 COLO           | CO CWRDEV 7.75 12/15/2049                                                 | CUSIP: 17776QAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1425000 | PA      | $1424643.75   | 0.08%             | 2049-12-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| CITYSET MET DIST NO 2 COLO                             | CO CTYGEN 3.5 12/01/2030                                                  | CUSIP: 17878CAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4570000 | PA      | $4174786.40   | 0.22%             | 2030-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CITYSET MET DIST NO 2 COLO                             | CO CTYGEN 4.38 12/01/2040                                                 | CUSIP: 17878CAB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8360000 | PA      | $7105832.80   | 0.38%             | 2040-12-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CITYSET MET DIST NO 2 COLO                             | CO CTYGEN 4.5 12/01/2045                                                  | CUSIP: 17878CAC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3180000 | PA      | $2618030.40   | 0.14%             | 2045-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CLEAR CREEK TRAN MET DIST NO 2 COLO                    | CO TRSFAC 5 12/01/2041                                                    | CUSIP: 184542AB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1886000 | PA      | $1447146.66   | 0.08%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLEAR CREEK TRAN MET DIST NO 2 COLO                    | CO TRSFAC 5 12/01/2050                                                    | CUSIP: 184542AC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4100000 | PA      | $2909688.00   | 0.16%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLOVERLEAF MET DIST COLO                               | CO CLOFAC 6 12/01/2051                                                    | CUSIP: 189243AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2330000 | PA      | $2321239.20   | 0.12%             | 2051-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CLOVERLEAF MET DIST COLO                               | CO CLOFAC 9.25 12/15/2051                                                 | CUSIP: 189243AB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1034000 | PA      | $1039469.86   | 0.06%             | 2051-12-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| COLLIERS HILL MET DIST NO 2 COLO                       | CO COHFAC 5.75 12/15/2047                                                 | CUSIP: 194689AS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2243000 | PA      | $2108105.98   | 0.11%             | 2047-12-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| COLLIERS HILL MET DIST NO 3 COLO                       | CO CLHDEV 5.25 12/01/2040                                                 | CUSIP: 194691AA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8300000 | PA      | $7729292.00   | 0.41%             | 2040-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COLLIERS HILL MET DIST NO 3 COLO                       | CO CLHDEV 5.5 12/01/2048                                                  | CUSIP: 194691AB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  18250000 | PA      | $17565442.50  | 0.94%             | 2048-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| COLLIERS HILL MET DIST NO 3 COLO                       | CO CLHDEV 8.5 12/15/2043                                                  | CUSIP: 194691AC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2213000 | PA      | $2192773.18   | 0.12%             | 2043-12-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| COLORADO CENTRE MET DIST COLO                          | CO CCTFAC 10.2 01/01/2032                                                 | CUSIP: 196345BJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6592306 | PA      | $2966537.70   | 0.16%             | 2032-01-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| COLORADO CENTRE MET DIST COLO                          | CO CCTFAC 0 01/01/2027                                                    | CUSIP: 196345BK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2074674 | PA      | $1959218.39   | 0.11%             | 2027-01-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| COLORADO CENTRE MET DIST COLO                          | CO CCTFAC 9 01/01/2027                                                    | CUSIP: 196345BL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2131449 | PA      | $1278869.40   | 0.07%             | 2027-01-01      | None          | 9.00%                 | No            |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                      | CO COSEDU 5.35 11/15/2027                                                 | CUSIP: 19645R6Y2<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   3110000 | PA      | $3057472.10   | 0.16%             | 2027-11-15      | Fixed         | 5.35%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                      | CO COSEDU 5.12 01/01/2042                                                 | CUSIP: 19645UMU5<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |  40335000 | PA      | $37992343.20  | 2.04%             | 2042-01-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                      | CO COSEDU 6.12 07/01/2031                                                 | CUSIP: 19645UMZ4<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   1960000 | PA      | $1927954.00   | 0.10%             | 2031-07-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                      | CO COSEDU 5.85 06/15/2029                                                 | CUSIP: 19645UNT7<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |  11630000 | PA      | $11630348.90  | 0.62%             | 2029-06-15      | Fixed         | 5.85%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                      | CO COSEDU 6.12 07/01/2029                                                 | CUSIP: 19645UNX8<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |  17790000 | PA      | $17799072.90  | 0.95%             | 2029-07-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| MULTNOMAH CNTY ORE HOSP FACS AUTH                      | OR MULMED 5.45 09/15/2020                                                 | CUSIP: 62551PCB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5815000 | PA      | $5815000.00   | 0.31%             | 2020-09-15      | Fixed         | 5.45%                 | Yes           |                  3 | On Loan: No      |
| MURPHY CREEK MET DIST NO 5 COLO                        | CO MURDEV 6 12/01/2052                                                    | CUSIP: 626657AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2645000 | PA      | $2491907.40   | 0.13%             | 2052-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NEWLIN CROSSING MET DIST COLO                          | CO NWCDEV 5.38 12/01/2054                                                 | CUSIP: 65152HAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1074100.00   | 0.06%             | 2054-12-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| NEWLIN CROSSING MET DIST COLO                          | CO NWCDEV 7.75 12/15/2054                                                 | CUSIP: 65152HAB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    604000 | PA      | $606645.52    | 0.03%             | 2054-12-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| NINE MILE MET DIST                                     | CO NNMGEN 4.62 12/01/2030                                                 | CUSIP: 65442PAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1128993.75   | 0.06%             | 2030-12-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| NINE MILE MET DIST                                     | CO NNMGEN 5.12 12/01/2040                                                 | CUSIP: 65442PAB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2444800.00   | 0.13%             | 2040-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| NORTH RANGE MET DIST NO 3 COLO                         | CO NRMFAC 5 12/01/2040                                                    | CUSIP: 66176NAA6<br>LEI: 549300ZQWNLLIG564027 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1969000.00   | 0.11%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OGLALA SIOUX TRIBE S D                                 | OGLFAC 5.5 07/01/28                                                       | CUSIP: 676629AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1717992.00   | 0.09%             | 2028-07-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| OGLALA SIOUX TRIBE S D                                 | OGLFAC 6 07/01/37                                                         | CUSIP: 676629AC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9270000 | PA      | $7482836.70   | 0.40%             | 2037-07-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| OGLALA SIOUX TRIBE S D                                 | OGLFAC 6.5 09/01/41 2018                                                  | CUSIP: 676629AE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5700000 | PA      | $4539822.00   | 0.24%             | 2041-09-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| OGLALA SIOUX TRIBE S D                                 | OGLFAC 8 10/01/26 2018                                                    | CUSIP: 67662LAL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $798368.00    | 0.04%             | 2026-10-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| OGLALA SIOUX TRIBE S D                                 | OGLFAC 4.5 10/01/27 2019                                                  | CUSIP: 67662TAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2370000 | PA      | $2246404.50   | 0.12%             | 2027-10-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| PV ERU Holding Trust                                   | PV ERU Holding Trust 0% NTS 14/02/2039 USD (144A) (2006)                  | CUSIP: 693690AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    710000 | PA      | $64666.76     | 0.00%             | 2039-02-14      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| PV ERU Holding Trust                                   | PV ERU Holding Trust 0% NTS 14/02/2039 USD (144A)                         | CUSIP: 693690AB5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3122000 | PA      | $284351.60    | 0.02%             | 2039-02-14      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| PV ERU Holding Trust                                   | PV ERU Holding Trust 0% NTS 14/02/2039 USD (144A)                         | CUSIP: 693690AC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13168000 | PA      | $1199340.78   | 0.06%             | 2039-02-14      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| PV ERU Holding Trust                                   | PV ERU Holding Trust 0% NTS 14/02/2039 USD (144A)                         | CUSIP: 693690AD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  14000000 | PA      | $1275119.30   | 0.07%             | 2039-02-14      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| PAINTED PRAIRIE PUB IMPT AUTH COLO                     | CO PAPGEN 4 12/01/2029                                                    | CUSIP: 69578NAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $906170.00    | 0.05%             | 2029-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PARKDALE CMNTY AUTH COLO                               | CO PKDDEV 5 12/01/2040                                                    | CUSIP: 700890AA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3140000 | PA      | $3243525.80   | 0.17%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PARKDALE CMNTY AUTH COLO                               | CO PKDDEV 5.25 12/01/2050                                                 | CUSIP: 700890AB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5620000 | PA      | $5807595.60   | 0.31%             | 2050-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PARTERRE MET DIST NO 5 COLO                            | CO PTRDEV 5.88 12/01/2045                                                 | CUSIP: 70211AAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1534260.00   | 0.08%             | 2045-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PARTERRE MET DIST NO 5 COLO                            | CO PTRDEV 6.12 12/01/2055                                                 | CUSIP: 70211AAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2313922.50   | 0.12%             | 2055-12-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| PARTERRE MET DIST NO 5 COLO                            | CO PTRDEV 8.38 12/15/2055                                                 | CUSIP: 70211AAD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1445838.50   | 0.08%             | 2055-12-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| PINERY COML MET DIST NO 2 COLO                         | CO PRYDEV 5.75 12/01/2054                                                 | CUSIP: 72330FAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3200000 | PA      | $3091072.00   | 0.17%             | 2054-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PIONEER CMNTY AUTH BRD COLO                            | CO PICDEV 6.75 12/15/2050                                                 | CUSIP: 72364TAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  24592000 | PA      | $23588892.32  | 1.26%             | 2050-12-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PLAZA MET DIST NO 1 COLO                               | CO PLZGEN 5 12/01/2040                                                    | CUSIP: 72818QAX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5350000 | PA      | $5255893.50   | 0.28%             | 2040-12-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| PLAZA MET DIST NO 1 COLO                               | CO PLZGEN 5 12/01/2040                                                    | CUSIP: 72818QAX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2456025.00   | 0.13%             | 2040-12-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| POINTE WEST PUB INFRASTRUCTURE DIST UTAH               | UT PWEDEV 5.5 12/01/2053                                                  | CUSIP: 73084NAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3090000 | PA      | $2890231.50   | 0.15%             | 2053-12-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| POWHATON CMNTY AUTH COLO                               | CO PCADEV 5 12/01/2051                                                    | CUSIP: 73938BAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7450000 | PA      | $6309703.00   | 0.34%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRONGHORN VY MET DIST COLO                             | CO PVMFAC 3.75 12/01/2041                                                 | CUSIP: 74344YAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    515000 | PA      | $425456.95    | 0.02%             | 2041-12-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| PRONGHORN VY MET DIST COLO                             | CO PVMFAC 4 12/01/2051                                                    | CUSIP: 74344YAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4400000 | PA      | $3425796.00   | 0.18%             | 2051-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                    | WI PUBEDU 5 06/01/2026                                                    | CUSIP: 74442EEK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  27740000 | PA      | $27577166.20  | 1.48%             | 2026-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                    | PR PRC 5.38 07/01/2025                                                    | CUSIP: 74514L3F2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |     51483 | PA      | $51483.00     | 0.00%             | 2025-07-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                    | PR PRC 5.62 07/01/2027                                                    | CUSIP: 74514L3G0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    102175 | PA      | $105147.27    | 0.01%             | 2027-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                    | PR PRC 5.62 07/01/2029                                                    | CUSIP: 74514L3H8<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    100517 | PA      | $106026.34    | 0.01%             | 2029-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                    | PR PRC 5.75 07/01/2031                                                    | CUSIP: 74514L3J4<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |     97632 | PA      | $105308.80    | 0.01%             | 2031-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                    | PR PRC 4 07/01/2033                                                       | CUSIP: 74514L3K1<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |     92580 | PA      | $90323.82     | 0.00%             | 2033-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                    | PR PRC 4 07/01/2035                                                       | CUSIP: 74514L3L9<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |     83217 | PA      | $80124.66     | 0.00%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WESTERLY MET DIST NO 4 COLO                            | CO WSTDEV 0 12/01/2050                                                    | CUSIP: 957568AD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1836320.00   | 0.10%             | 2050-12-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| WHITE BUFFALO MET DIST NO 3 COLO                       | CO WBMFAC 5.5 12/01/2050                                                  | CUSIP: 96350BAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4780000 | PA      | $4587509.40   | 0.25%             | 2050-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WOODMEN HEIGHTS MET DIST NO 2 COLO                     | CO WOHDEV 6.25 12/15/2040                                                 | CUSIP: 979841AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1733000 | PA      | $1683626.83   | 0.09%             | 2040-12-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| WOODMEN HEIGHTS MET DIST NO 2 COLO                     | CO WOHDEV 7.5 12/15/2040                                                  | CUSIP: 979841AB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3358000 | PA      | $3358537.28   | 0.18%             | 2040-12-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| WYNDHAM MET DIST NO 2 COLO                             | CO WYNGWN 7.62 12/15/2049                                                 | CUSIP: 98310UAX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9600000 | PA      | $9612672.00   | 0.52%             | 2049-12-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| CROWFOOT VY RANCH MET DIST NO 2 COLO                   | CO CVRDEV 6.12 12/15/2054                                                 | CUSIP: 22802CAX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2653860.00   | 0.14%             | 2054-12-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| DAKOTA RIDGE MET DIST COLO                             | CO DRMFAC 6 12/01/2052                                                    | CUSIP: 23426AAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2339000 | PA      | $2282302.64   | 0.12%             | 2052-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DEER CREEK VILLAS MET DIST COLO                        | CO DECDEV 5 12/01/2055                                                    | CUSIP: 24382CAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6085000 | PA      | $5350723.05   | 0.29%             | 2055-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO INTL BUSINESS CTR MET DIST NO 1            | CO DENDEV 6 12/01/2048                                                    | CUSIP: 249197BB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4578000 | PA      | $4590818.40   | 0.25%             | 2048-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA              | FLNDRE 8.28 01/01/27 2027                                                 | CUSIP: 338497BD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1205000 | PA      | $1184611.40   | 0.06%             | 2027-01-01      | Fixed         | 8.28%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA              | FLNDRE 8.28 01/01/28 2028                                                 | CUSIP: 338497BF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1305000 | PA      | $1277229.60   | 0.07%             | 2028-01-01      | Fixed         | 8.28%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA              | FLNDRE 8.28 01/01/34 A                                                    | CUSIP: 338497BH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8670000 | PA      | $8323806.90   | 0.45%             | 2034-01-01      | Fixed         | 8.28%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA              | FLNDRE 5.75 07/01/25 2020                                                 | CUSIP: 338497BK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    740000 | PA      | $740000.00    | 0.04%             | 2025-07-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA              | FLNDRE 5.75 07/01/26 2020                                                 | CUSIP: 338497BL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    785000 | PA      | $768412.95    | 0.04%             | 2026-07-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA              | FLNDRE 5.75 07/01/27 2020                                                 | CUSIP: 338497BM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    830000 | PA      | $797464.00    | 0.04%             | 2027-07-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA              | FLNDRE 5.75 07/01/28 2020                                                 | CUSIP: 338497BN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $826140.00    | 0.04%             | 2028-07-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA              | FLNDRE 5.75 07/01/29 2020                                                 | CUSIP: 338497BP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    930000 | PA      | $862919.10    | 0.05%             | 2029-07-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA              | FLNDRE 5.75 07/01/30 2020                                                 | CUSIP: 338497BQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    980000 | PA      | $892613.40    | 0.05%             | 2030-07-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA              | FLNDRE 5.75 07/01/31 2020                                                 | CUSIP: 338497BR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1040000 | PA      | $931361.60    | 0.05%             | 2031-07-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA              | FLNDRE 5.75 07/01/32 2020                                                 | CUSIP: 338497BS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1095000 | PA      | $962614.50    | 0.05%             | 2032-07-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA              | FLNDRE 5.75 07/01/33 2020                                                 | CUSIP: 338497BT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1160000 | PA      | $1002518.40   | 0.05%             | 2033-07-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA              | FLNDRE 5.75 07/01/34 2020                                                 | CUSIP: 338497BU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1225000 | PA      | $1040098.50   | 0.06%             | 2034-07-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA              | FLNDRE 5.75 07/01/35 2020                                                 | CUSIP: 338497BV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1084057.00   | 0.06%             | 2035-07-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA              | FLNDRE 6 07/01/40 2020                                                    | CUSIP: 338497BW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7730000 | PA      | $6010538.80   | 0.32%             | 2040-07-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA              | FLNDRE 6.25 07/01/45 2020                                                 | CUSIP: 338497BX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10395000 | PA      | $7762154.40   | 0.42%             | 2045-07-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| FLYING HORSE MET DIST NO 2 COLO                        | CO FLYGEN 7.25 12/15/2050                                                 | CUSIP: 34407NBC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  15405000 | PA      | $15367565.85  | 0.82%             | 2050-12-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| FLYING HORSE MET DIST NO 3 COLO                        | CO FLYGEN 6 12/01/2049                                                    | CUSIP: 34407UAB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2965000 | PA      | $2880023.10   | 0.15%             | 2049-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA              | FLNDRE 5.75 07/01/34 2020                                                 | CUSIP: 338497BU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3600000 | PA      | $3360996.00   | 0.18%             | 2034-07-01      | Fixed         | 5.60%                 | Yes           |                  2 | On Loan: No      |
| GREEN VY RANCH EAST MET DIST NO 6 COLO                 | CO GRNDEV 5.88 12/01/2050                                                 | CUSIP: 39356MAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3325000 | PA      | $3369688.00   | 0.18%             | 2050-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| GREENSPIRE MET DIST NO 1 COLO                          | CO GRSFAC 5.12 12/01/2051                                                 | CUSIP: 39572QAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1925000 | PA      | $1649186.00   | 0.09%             | 2051-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| GREENWAYS MET DIST NO 1 COLO                           | CO GRMFAC 4.62 12/01/2051                                                 | CUSIP: 39679VAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6845000 | PA      | $5112804.30   | 0.27%             | 2051-12-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| HESS RANCH MET DIST NO 6 COLO                          | CO HRADEV 5 12/01/2049                                                    | CUSIP: 428112AA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4416850.00   | 0.24%             | 2049-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HIDDEN CREEK MET DIST COLO                             | CO HCMDEV 4.62 12/01/2045                                                 | CUSIP: 42951RAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3430000 | PA      | $2790888.10   | 0.15%             | 2045-12-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| HIGHLANDS-MEAD MET DIST COLO                           | CO HLMDEV 5.12 12/01/2050                                                 | CUSIP: 431043AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1395000 | PA      | $1308454.20   | 0.07%             | 2050-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| HOGBACK MET DIST COLO                                  | CO HOGDEV 5 12/01/2041                                                    | CUSIP: 434610AA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $674612.50    | 0.04%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOGBACK MET DIST COLO                                  | CO HOGDEV 5 12/01/2051                                                    | CUSIP: 434610AB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1381778.50   | 0.07%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HORIZON MET DIST NO 2 COLO                             | CO HRZFAC 4.5 12/01/2051                                                  | CUSIP: 44056CAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11657000 | PA      | $8701134.51   | 0.47%             | 2051-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HUNTERS OVERLOOK MET DIST NO 7 COLO                    | CO HNTFAC 5.5 12/01/2051                                                  | CUSIP: 44578EAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3525000 | PA      | $3116769.75   | 0.17%             | 2051-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HYLAND VLG MET DIST COLO                               | CO HYLMET 12/01/2027                                                      | CUSIP: 44908YAB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4770000 | PA      | $4102200.00   | 0.22%             | 2027-12-01      | Variable      | 10.00%                | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                    | PR PRC 4 07/01/2037                                                       | CUSIP: 74514L3M7<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |     71422 | PA      | $68047.31     | 0.00%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                    | PR PRC 4 07/01/2041                                                       | CUSIP: 74514L3N5<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |     97107 | PA      | $86297.05     | 0.00%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                    | PR PRC 4 07/01/2046                                                       | CUSIP: 74514L3P0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    100990 | PA      | $86287.88     | 0.00%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                    | PR PRC 0 07/01/2033                                                       | CUSIP: 74514L3R6<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    119142 | PA      | $82366.44     | 0.00%             | 2033-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                    | PR PRC 11/01/2043                                                         | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    383020 | PA      | $235557.55    | 0.01%             | 2043-11-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP                        | PR PRCGEN 4.5 07/01/2034                                                  | CUSIP: 74529JPU3<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |    277000 | PA      | $276986.15    | 0.01%             | 2034-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP                        | PR PRCGEN 4.55 07/01/2040                                                 | CUSIP: 74529JPV1<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |    140000 | PA      | $134191.40    | 0.01%             | 2040-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP                        | PR PRCGEN 4.75 07/01/2053                                                 | CUSIP: 74529JPW9<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |   1028000 | PA      | $945112.36    | 0.05%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP                        | PR PRCGEN 5 07/01/2058                                                    | CUSIP: 74529JPX7<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |   2600000 | PA      | $2444338.00   | 0.13%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP                        | PR PRCGEN 0 07/01/2027                                                    | CUSIP: 74529JQC2<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |    267000 | PA      | $246750.72    | 0.01%             | 2027-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP                        | PR PRCGEN 0 07/01/2029                                                    | CUSIP: 74529JQD0<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |    260000 | PA      | $221884.00    | 0.01%             | 2029-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP                        | PR PRCGEN 0 07/01/2031                                                    | CUSIP: 74529JQE8<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |    336000 | PA      | $262150.56    | 0.01%             | 2031-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ROSE FARM ACRES MET DIST COLO                          | CO RFADEV 8.75 12/15/2050                                                 | CUSIP: 777041AB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    910000 | PA      | $912557.10    | 0.05%             | 2050-12-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| RRC MET DIST NO 2 COLO                                 | CO RRCFAC 5.25 12/01/2051                                                 | CUSIP: 78110PAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5625000 | PA      | $4771912.50   | 0.26%             | 2051-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SABELL MET DIST COLO                                   | CO SBLDEV 5 12/01/2050                                                    | CUSIP: 78517NAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1053000 | PA      | $979353.18    | 0.05%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SABELL MET DIST COLO                                   | CO SBLDEV 8.25 12/15/2050                                                 | CUSIP: 78517NAB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    605000 | PA      | $606306.80    | 0.03%             | 2050-12-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| ABERDEEN MET DIST NO 1 COLO                            | CO ABEGEN 7.5 12/01/2035                                                  | CUSIP: 003102AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1600000.00   | 0.09%             | 2035-12-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ANTHOLOGY WEST MET DIST NO 5 COLO                      | CO ANTDEV 4.88 12/01/2049                                                 | CUSIP: 03675HAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4575000 | PA      | $3967989.00   | 0.21%             | 2049-12-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ANTHOLOGY WEST MET DIST NO 5 COLO                      | CO ANTDEV 7.62 12/15/2049                                                 | CUSIP: 03675HAB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    698000 | PA      | $698362.96    | 0.04%             | 2049-12-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| ANTHOLOGY WEST MET DIST NO 5 COLO                      | CO ANTDEV 7.62 12/15/2049                                                 | CUSIP: 03675HAB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6780500 | PA      | $1530935.19   | 0.08%             | 2049-12-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| BUCKLEY YD MET DIST NO 2 COLO                          | CO BYADEV 6.25 12/01/2052                                                 | CUSIP: 118473AA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6800000 | PA      | $6391660.00   | 0.34%             | 2052-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BUCKLEY YD MET DIST NO 2 COLO                          | CO BYADEV 9.25 12/15/2052                                                 | CUSIP: 118473AB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1569000 | PA      | $1575417.21   | 0.08%             | 2052-12-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| CCP MET DIST NO 3 COLO                                 | CO CCPDEV 5 12/01/2053                                                    | CUSIP: 12520DAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1126452.00   | 0.06%             | 2053-12-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CSA Buildings FAC LLC / Colo Skies Academy             | CSA Buildings FAC LLC / Colo Skies Academy 8% NTS 01/07/2030 USD (144A)   | CUSIP: 12674FAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    935000 | PA      | $936853.82    | 0.05%             | 2030-07-01      | Fixed         | 8.00%                 | Yes           |                  3 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                      | CO COSEDU 7 07/01/2030                                                    | CUSIP: 19645UQQ0<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |  10595000 | PA      | $10757633.25  | 0.58%             | 2030-07-01      | Fixed         | 7.01%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                      | CO COSEDU 7.5 07/01/2030                                                  | CUSIP: 19645UQR8<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |    500000 | PA      | $513480.00    | 0.03%             | 2030-07-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                      | CO COSEDU 6.12 06/15/2032                                                 | CUSIP: 19645UTV6<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   5175000 | PA      | $5204031.75   | 0.28%             | 2032-06-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                      | CO COSEDU 7.5 06/15/2031                                                  | CUSIP: 19645UTW4<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |    270000 | PA      | $271285.20    | 0.01%             | 2031-06-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| COLORADO CROSSING MET DIST NO 2 COLO                   | CO CCRGEN 5 12/01/2047                                                    | CUSIP: 19645YAB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3671160.00   | 0.20%             | 2047-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO CROSSING MET DIST NO 2 COLO                   | CO CCRGEN 5 12/01/2050                                                    | CUSIP: 19645YAD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3594440.00   | 0.19%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HSG & FIN AUTH                                | CO COSDEV 6.75 12/01/2010                                                 | CUSIP: 196476BW4<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | MUN               | US        |   3755000 | PA      | $3099999.96   | 0.17%             | 2010-12-01      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| HOGBACK MET DIST COLO                                  | CO HOGDEV 5 12/01/2041                                                    | CUSIP: 434610AA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4287825.00   | 0.23%             | 2041-12-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| INSPIRATION MET DIST COLO                              | CO INSDEV 5 12/15/2036                                                    | CUSIP: 457723AB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    732000 | PA      | $663543.36    | 0.04%             | 2036-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JAY GROVE MET DIST COLO                                | CO JGMFAC 4.25 12/01/2051                                                 | CUSIP: 472043AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2450000 | PA      | $1796315.50   | 0.10%             | 2051-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| JEFFCO BUSINESS CTR COLO MET DIST NO 1                 | CO JECFAC 8 05/01/2020                                                    | CUSIP: 47231RAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1006000 | PA      | $1020918.48   | 0.05%             | 2020-05-01      | Variable      | 8.00%                 | No            |                  3 | On Loan: No      |
| JEFFERSON CTR MET DIST NO 1 COLO                       | CO JFFGEN 5.75 12/15/2050                                                 | CUSIP: 47248EAC6<br>LEI: 549300S1EAFO90X8HQ88 | Long             | DBT              | MUN               | US        |  14414000 | PA      | $14409243.38  | 0.77%             | 2050-12-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| JORDANELLE RIDGE PUB INFRASTRUCTURE DIST NO 2 UTAH     | UT JRIDEV 7.88 03/15/2055                                                 | CUSIP: 480790AC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4005840.00   | 0.21%             | 2055-03-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| KARLS FARM MET DIST NO 2 COLO                          | CO KLFDEV 5.38 12/01/2040                                                 | CUSIP: 48565KAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1155000 | PA      | $1193784.90   | 0.06%             | 2040-12-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| KARLS FARM MET DIST NO 2 COLO                          | CO KLFDEV 5.62 12/01/2050                                                 | CUSIP: 48565KAB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3030000 | PA      | $3132989.70   | 0.17%             | 2050-12-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| KARLS FARM MET DIST NO 2 COLO                          | CO KLFDEV 6.2 12/15/2044                                                  | CUSIP: 48565KAC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    567000 | PA      | $569290.68    | 0.03%             | 2044-12-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| LAFFERTY CANYON MET DIST COLO                          | CO FLRDEV 5.62 12/01/2055                                                 | CUSIP: 50682FAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1428990.00   | 0.08%             | 2055-12-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| LAFFERTY CANYON MET DIST COLO                          | CO FLRDEV 8 12/15/2055                                                    | CUSIP: 50682FAB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    835000 | PA      | $843174.65    | 0.05%             | 2055-12-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| LAKES MET DIST NO 4 COLO                               | CO LKSFAC 5.5 12/01/2061                                                  | CUSIP: 51206HAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  20080000 | PA      | $16899528.80  | 0.91%             | 2061-12-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| LEGATO CMNTY AUTH COLO                                 | CO LEGDEV 5 12/01/2051                                                    | CUSIP: 52473TAD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2062550.00   | 0.11%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LITTLETON VLG COLO MET DIST NO 3                       | CO LTLFAC 6.25 12/15/2055                                                 | CUSIP: 53800HAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2850000 | PA      | $2871660.00   | 0.15%             | 2055-12-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| LORETTO HEIGHTS CMNTY AUTH COLO                        | CO LOHDEV 4.88 12/01/2051                                                 | CUSIP: 544084AA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12750000 | PA      | $9610312.50   | 0.52%             | 2051-12-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| MARIN MET DIST COLO                                    | CO MARFAC 7.75 12/01/2028                                                 | CUSIP: 56804RAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  17485000 | PA      | $1573650.00   | 0.08%             | 2028-12-01      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| MAYFIELD MET DIST COLO                                 | CO MAYDEV 5.75 12/01/2050                                                 | CUSIP: 578287AA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1182000 | PA      | $1168773.42   | 0.06%             | 2050-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MAYFIELD MET DIST COLO                                 | CO MAYDEV 8.25 12/15/2050                                                 | CUSIP: 578287AB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    622000 | PA      | $623785.14    | 0.03%             | 2050-12-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| MAYFIELD MET DIST COLO                                 | CO MAYDEV 3 12/15/2050                                                    | CUSIP: 578287AC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    766000 | PA      | $331448.20    | 0.02%             | 2050-12-15      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| MEADOWS MET DIST COLO                                  | CO MEAGEN 8 06/01/2029                                                    | CUSIP: 582903BU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  30730000 | PA      | $30404569.30  | 1.63%             | 2029-06-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| MEADOWS MET DIST COLO                                  | CO MEAGEN 8 06/01/2029                                                    | CUSIP: 582903BV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  23830000 | PA      | $23577640.30  | 1.26%             | 2029-06-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| MEADOWS MET DIST COLO                                  | CO MEAGEN 8 06/01/2029                                                    | CUSIP: 582903BW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  15440000 | PA      | $15276490.40  | 0.82%             | 2029-06-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| MEADOWLARK MET DIST COLO                               | CO MDWDEV 4.88 12/01/2040                                                 | CUSIP: 583213AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1032000 | PA      | $1008831.60   | 0.05%             | 2040-12-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| MEADOWLARK MET DIST COLO                               | CO MDWDEV 5.12 12/01/2050                                                 | CUSIP: 583213AB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1505000 | PA      | $1407746.90   | 0.08%             | 2050-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| MILLARD CNTY UTAH                                      | UT MLLDEV 10 12/15/2034                                                   | CUSIP: 600066AA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $9228300.00   | 0.49%             | 2034-12-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| MILLARD CNTY UTAH                                      | UT MLLDEV 12 12/15/2025                                                   | CUSIP: 600066AB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $488720.00    | 0.03%             | 2025-12-15      | Fixed         | 12.00%                | Yes           |                  2 | On Loan: No      |
| MINERAL BUSINESS IMPT DIST COLO                        | CO MBUDEV 5.75 12/01/2054                                                 | CUSIP: 60284AAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1692775.00   | 0.09%             | 2054-12-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| MIRABELLE MET DIST NO 2 COLO                           | CO MIRFAC 6.12 12/15/2049                                                 | CUSIP: 60458HAX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1929860.00   | 0.10%             | 2049-12-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| MONUMENT JCT MET DIST NO 1 COLO                        | CO MJMFAC 5.75 12/01/2051                                                 | CUSIP: 61540FAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12258000 | PA      | $10954239.12  | 0.59%             | 2051-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MOUNT CARBON MET DIST COLO                             | CO MOUFAC 8 06/01/2043                                                    | CUSIP: 62081AAC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    521078 | PA      | $521250.05    | 0.03%             | 2043-06-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| MOUNTAIN BROOK MET DIST COLO                           | CO MTBFAC 4.75 12/01/2051                                                 | CUSIP: 62387TAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7740000 | PA      | $5898963.60   | 0.32%             | 2051-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MOUNTAIN BROOK MET DIST COLO                           | CO MTBFAC 4.5 12/01/2041                                                  | CUSIP: 62387TAB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $812580.00    | 0.04%             | 2041-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MOUNTAIN SHADOWS MET DIST COLO                         | CO MSHGEN 5 12/01/2035                                                    | CUSIP: 62426NAF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    488000 | PA      | $488522.16    | 0.03%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MUEGGE FARMS MET DIST NO 1 COLO                        | CO MGFFAC 5 12/01/2051                                                    | CUSIP: 62477MAA3<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   6300000 | PA      | $5127192.00   | 0.27%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MUEGGE FARMS MET DIST NO 3 COLO                        | CO MUGFAC 5.5 12/01/2051                                                  | CUSIP: 62477NAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10431000 | PA      | $8675149.77   | 0.47%             | 2051-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PARKDALE CMNTY AUTH COLO                               | CO PKDDEV 7.75 12/15/2050                                                 | CUSIP: 700890AC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2424000 | PA      | $2513881.92   | 0.13%             | 2050-12-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| PARKDALE CMNTY AUTH COLO                               | CO PCDDEV 0 12/01/2053                                                    | CUSIP: 70089CAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5670000 | PA      | $4522675.50   | 0.24%             | 2053-12-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| PARKDALE CMNTY AUTH COLO                               | CO PCDDEV 9 12/15/2053                                                    | CUSIP: 70089CAB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1391000 | PA      | $1403046.06   | 0.08%             | 2053-12-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| PARKER AUTOMOTIVE MET DIST COLO                        | CO PARGEN 5 12/01/2045                                                    | CUSIP: 701038AC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1819000 | PA      | $1866967.03   | 0.10%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TABERNASH MEADOWS WTR & SANTN DIST COLO                | CO TABUTL 8.4 06/01/2020                                                  | CUSIP: 873338AA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    227347 | PA      | $190000.00    | 0.01%             | 2020-06-01      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| COLORADO HSG & FIN AUTH                                | CO COSHSG 01/01/2032                                                      | CUSIP: 19647WAA6<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | MUN               | US        |   3725000 | PA      | $3725000.00   | 0.20%             | 2032-01-01      | Variable      | 2.80%                 | No            |                  2 | On Loan: No      |
| COLORADO HSG & FIN AUTH                                | CO CHFHSG 7.25 10/01/2034                                                 | CUSIP: 19648XAA3<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10328100.00  | 0.55%             | 2034-10-01      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| COLORADO HSG & FIN AUTH                                | CO CHFHSG 9.75 10/01/2031                                                 | CUSIP: 19648XAB1<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10362700.00  | 0.56%             | 2031-10-01      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| COLORADO INTL CTR MET DIST NO 3                        | CO CICDEV 4.62 12/01/2031                                                 | CUSIP: 196501AJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    539000 | PA      | $517919.71    | 0.03%             | 2031-12-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| COLORADO INTL CTR MET DIST NO 7                        | CO CICDEV 0 12/01/2051                                                    | CUSIP: 19650TAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  21285000 | PA      | $16349434.20  | 0.88%             | 2051-12-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| COLORADO SCIENCE & TECHNOLOGY PK MET DIST NO 1         | CO CSTFAC 4.12 12/15/2039                                                 | CUSIP: 19658CBA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    185000 | PA      | $176305.00    | 0.01%             | 2039-12-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| COLORADO SCIENCE & TECHNOLOGY PK MET DIST NO 1         | CO CSTFAC 4.5 12/15/2044                                                  | CUSIP: 19658CBB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $201502.30    | 0.01%             | 2044-12-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| COLORADO SCIENCE & TECHNOLOGY PK MET DIST NO 1         | CO CSTFAC 4.75 12/15/2054                                                 | CUSIP: 19658CBC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    635000 | PA      | $596938.10    | 0.03%             | 2054-12-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| COLORADO SPRINGS COLO                                  | CO CSPUTL 11/01/2041                                                      | CUSIP: 196632NP4<br>LEI: 2549003N3PXBHQH2V448 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1100000.00   | 0.06%             | 2041-11-01      | Variable      | 2.60%                 | No            |                  2 | On Loan: No      |
| CONESTOGA MET DIST NO 2 COLO                           | CO CNMFAC 5.25 12/01/2051                                                 | CUSIP: 207020AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1625000 | PA      | $1387587.50   | 0.07%             | 2051-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CONIFER MET DIST COLO                                  | CO CNFGEN 7 12/01/2030                                                    | CUSIP: 20731NAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $4418532.90   | 0.24%             | 2030-12-01      | Fixed         | 0.00%                 | Yes           |                  3 | On Loan: No      |
| CONIFER MET DIST COLO                                  | CO CNFGEN 7 12/01/2032                                                    | CUSIP: 20731NAB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $640687.27    | 0.03%             | 2032-12-01      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| CONIFER MET DIST COLO                                  | CO CNFGEN 7 12/01/2033                                                    | CUSIP: 20731NAC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1550000 | PA      | $684872.60    | 0.04%             | 2033-12-01      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| CONIFER MET DIST COLO                                  | CO CNFGEN 0 12/01/2031                                                    | CUSIP: 20731NBA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7470000 | PA      | $2309215.22   | 0.12%             | 2031-12-01      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| CONSTITUTION HEIGHTS MET DIST COLO                     | CO CNHFAC 5 12/01/2049                                                    | CUSIP: 210402AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1758000 | PA      | $1584397.50   | 0.08%             | 2049-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COPPERLEAF MET DIST NO 9 COLO                          | CO CPPGEN 4.88 12/01/2051                                                 | CUSIP: 21765TAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8175000 | PA      | $6225753.00   | 0.33%             | 2051-12-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CONIFER MET DIST COLO                                  | CO CNFGEN 7 12/01/2030                                                    | CUSIP: 20731NAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  13545000 | PA      | $12792846.15  | 0.69%             | 2030-12-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| COUNTRY CLUB HIGHLANDS MET DIST COLO                   | CO CCVGEN 7.25 12/01/2037                                                 | CUSIP: 222334AA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1030000 | PA      | $947600.00    | 0.05%             | 2037-12-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| E-86 MET DIST COLO                                     | CO EMDDEV 5.12 12/01/2051                                                 | CUSIP: 26843GAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4060000 | PA      | $3371911.20   | 0.18%             | 2051-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| EAGLE BROOK MEADOWS MET DIST NO 3 COLO                 | CO EGBFAC 5 12/01/2051                                                    | CUSIP: 26943TAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1419104.00   | 0.08%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EASTERN HILLS MET DIST NO 10 COLO                      | CO EHLDEV 6 12/01/2055                                                    | CUSIP: 27649AAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8755000 | PA      | $8768832.90   | 0.47%             | 2055-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| EASTERN HILLS MET DIST NO 10 COLO                      | CO EHLDEV 8.25 12/15/2055                                                 | CUSIP: 27649AAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1802000 | PA      | $1804234.48   | 0.10%             | 2055-12-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| ELORA MET DIST COLO                                    | CO ELODEV 6 12/01/2055                                                    | CUSIP: 290141AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5017300.00   | 0.27%             | 2055-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ERIE HIGHLANDS MET DIST NO 2 COLO                      | CO ERHFAC 5.25 12/01/2048                                                 | CUSIP: 295272AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $5784960.00   | 0.31%             | 2048-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ERIE HIGHLANDS MET DIST NO 2 COLO                      | CO ERHFAC 7.62 12/15/2048                                                 | CUSIP: 295272AB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1819000 | PA      | $1820418.82   | 0.10%             | 2048-12-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD NTS USD (SEC REGD) | CUSIP: 31394PKC6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | CORP              | US        |    241978 | PA      | $249230.11    | 0.01%             | N/A             | Fixed         | 6.50%                 | No            |                  3 | On Loan: No      |
| FIELDS ESTATES PUB INFRASTRUCTURE DIST UTAH            | UT FESDEV 6.12 03/01/2055                                                 | CUSIP: 316576AA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $802263.00    | 0.04%             | 2055-03-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| FIELDS ESTATES PUB INFRASTRUCTURE DIST UTAH            | UT FESDEV 8.75 03/15/2055                                                 | CUSIP: 316576AB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    504000 | PA      | $494741.52    | 0.03%             | 2055-03-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| FIELDS ESTATES PUB INFRASTRUCTURE DIST UTAH            | UT FESDEV 5.25 12/01/2053                                                 | CUSIP: 31657CAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2553017.50   | 0.14%             | 2053-12-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| FITZSIMONS VLG MET DIST NO 1 COLO                      | CO FITFAC 5 12/01/2049                                                    | CUSIP: 33829KAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1037000 | PA      | $945972.14    | 0.05%             | 2049-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FITZSIMONS VLG MET DIST NO 1 COLO                      | CO FITFAC 7 12/15/2049                                                    | CUSIP: 33829KAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    611000 | PA      | $605806.50    | 0.03%             | 2049-12-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FITZSIMONS VLG MET DIST NO 3 COLO                      | CO FITFAC 4 12/01/2026                                                    | CUSIP: 33829NAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1640000 | PA      | $1635916.40   | 0.09%             | 2026-12-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| FITZSIMONS VLG MET DIST NO 3 COLO                      | CO FITFAC 4 12/01/2031                                                    | CUSIP: 33829NAB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $487750.00    | 0.03%             | 2031-12-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| FITZSIMONS VLG MET DIST NO 3 COLO                      | CO FITFAC 4 12/01/2041                                                    | CUSIP: 33829NAC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4445000 | PA      | $3796874.55   | 0.20%             | 2041-12-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| FITZSIMONS VLG MET DIST NO 3 COLO                      | CO FITFAC 4.25 12/01/2055                                                 | CUSIP: 33829NAD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9660000 | PA      | $7701241.80   | 0.41%             | 2055-12-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA              | FLNDRE 5.75 01/01/36                                                      | CUSIP: 338497AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6055000 | PA      | $4577943.30   | 0.25%             | 2036-01-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA              | FLNDRE 5 01/01/26                                                         | CUSIP: 338497AC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    610000 | PA      | $600404.70    | 0.03%             | 2026-01-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA              | FLNDRE 5.5 01/01/31                                                       | CUSIP: 338497AE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3565000 | PA      | $3057130.10   | 0.16%             | 2031-01-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA              | FLNDRE 6 01/01/38 B                                                       | CUSIP: 338497AK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6120000 | PA      | $5143431.60   | 0.28%             | 2038-01-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA              | FLNDRE 6 01/01/38 C                                                       | CUSIP: 338497AM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5450000 | PA      | $4580343.50   | 0.25%             | 2038-01-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| FLANDREAU SANTEE SIOUX TRIBE SOUTH DAKOTA              | FLNDRE 8.28 01/01/26 2026                                                 | CUSIP: 338497BB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1115000 | PA      | $1106615.20   | 0.06%             | 2026-01-01      | Fixed         | 8.28%                 | Yes           |                  2 | On Loan: No      |
| GOLDEN EAGLE ACRES MET DIST NO 2 COLO                  | CO GEADEV 4.5 12/01/2051                                                  | CUSIP: 38089NAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2150000 | PA      | $1692114.50   | 0.09%             | 2051-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GOLDEN OVERLOOK MET DIST COLO                          | CO GLOFAC 6.12 12/01/2054                                                 | CUSIP: 38115CAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4541175.00   | 0.24%             | 2054-12-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| GOLDEN OVERLOOK MET DIST COLO                          | CO GLOFAC 8.75 12/15/2054                                                 | CUSIP: 38115CAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1347000 | PA      | $1355809.38   | 0.07%             | 2054-12-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| GREEN GABLES MET DIST NO 2 COLO                        | CO GGBFAC 8.25 12/15/2053                                                 | CUSIP: 39305PAT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2984000 | PA      | $3028968.88   | 0.16%             | 2053-12-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| SCOTT GULCH MET DIST COLO                              | CO SGLDEV 6.5 12/01/2053                                                  | CUSIP: 809746AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3160000 | PA      | $3043080.00   | 0.16%             | 2053-12-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| SCOTT GULCH MET DIST COLO                              | CO SGLDEV 8.75 12/15/2053                                                 | CUSIP: 809746AB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    694000 | PA      | $697817.00    | 0.04%             | 2053-12-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| SHERIDAN REDEV AGY COLO                                | CO SHEDEV 12/01/2029                                                      | CUSIP: 82382LAJ8<br>LEI: 5493004D6ZS0F24QIZ32 | Long             | DBT              | MUN               | US        |  31660000 | PA      | $31660000.00  | 1.70%             | 2029-12-01      | Variable      | 2.75%                 | No            |                  2 | On Loan: No      |
| SILVER PEAKS EAST MET DIST COLO                        | CO SPCFAC 5 12/01/2051                                                    | CUSIP: 82808FAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5410000 | PA      | $4461356.50   | 0.24%             | 2051-12-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| 64TH AVE ARI AUTH COLO                                 | CO AVEGEN 6.5 12/01/2043                                                  | CUSIP: 83011AAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4946250.00   | 0.27%             | 2043-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SKY DANCE MET DIST NO 2 COLO                           | CO SKYDEV 6 12/01/2054                                                    | CUSIP: 83086VAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2480300.00   | 0.13%             | 2054-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SOJOURN AT IDLEWILD MET DIST COLO                      | CO SJNFAC 6.12 12/01/2055                                                 | CUSIP: 83408GAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2506250.00   | 0.13%             | 2055-12-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| SOLEIL HILLS PUB INFRASTRUCTURE DIST NO 1 UTAH         | UT SOLDEV 5.88 03/01/2055                                                 | CUSIP: 834201AA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2425000 | PA      | $2315123.25   | 0.12%             | 2055-03-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| SOLITUDE MET DIST COLO DOUGLAS CNTY                    | CO SOL 7 12/01/2026                                                       | CUSIP: 834257AA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3520000 | PA      | $3180477.94   | 0.17%             | 2026-12-01      | Fixed         | 7.00%                 | No            |                  3 | On Loan: No      |
| SOUTHLANDS MET DIST NO 1 COLO                          | CO SLAGEN 5 12/01/2037                                                    | CUSIP: 84454RAW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $490185.00    | 0.03%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHLANDS MET DIST NO 1 COLO                          | CO SLAGEN 5 12/01/2047                                                    | CUSIP: 84454RAX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2774910.00   | 0.15%             | 2047-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHSHORE MET DIST NO 2 COLO                          | CO SHRFAC 4.12 12/15/2041                                                 | CUSIP: 84467PAJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9690000 | PA      | $9159472.50   | 0.49%             | 2041-12-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| SPRING HILL MET DIST NO 3 COLO                         | CO SPHDEV 6.75 12/01/2052                                                 | CUSIP: 84966NAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1220000 | PA      | $1212021.20   | 0.06%             | 2052-12-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SPRING VY MET DIST NO 4 COLO                           | CO SPVDEV 5 12/01/2040                                                    | CUSIP: 85009UAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1410000 | PA      | $1264614.90   | 0.07%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SPRING VY MET DIST NO 4 COLO                           | CO SPVDEV 5.12 12/01/2050                                                 | CUSIP: 85009UAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1775000 | PA      | $1487822.75   | 0.08%             | 2050-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| SPRING VY MET DIST NO 4 COLO                           | CO SPVDEV 7.62 12/15/2050                                                 | CUSIP: 85009UAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2811000 | PA      | $2790198.60   | 0.15%             | 2050-12-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| STERLING RANCH CMNTY AUTH BRD COLO                     | CO STRDEV 6.5 12/01/2054                                                  | CUSIP: 85950NAW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1014510.00   | 0.05%             | 2054-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| STERLING RANCH CMNTY AUTH BRD COLO                     | CO STRDEV 5.75 12/01/2054                                                 | CUSIP: 85950NAY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2305000 | PA      | $2238938.70   | 0.12%             | 2054-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| STERLING RANCH MET DIST NO 2 COLO                      | CO STLFAC 5.25 12/01/2032                                                 | CUSIP: 85950PAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1340000 | PA      | $1348991.40   | 0.07%             | 2032-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| RANGE INFRASTRUCTURE FING DIST UTAH                    | UT RANDEV 5.5 12/01/2053                                                  | CUSIP: 88338YAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6515000 | PA      | $6043574.60   | 0.32%             | 2053-12-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| THIRD CREEK MET DIST NO 1 COLO                         | CO TCMFAC 4.5 12/01/2037                                                  | CUSIP: 88423EAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1130000 | PA      | $969121.90    | 0.05%             | 2037-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| THIRD CREEK MET DIST NO 1 COLO                         | CO TCMFAC 4.5 12/01/2042                                                  | CUSIP: 88423EAB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3140000 | PA      | $2476078.40   | 0.13%             | 2042-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| THIRD CREEK MET DIST NO 1 COLO                         | CO TCMFAC 4.75 12/01/2051                                                 | CUSIP: 88423EAC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7390000 | PA      | $5529419.70   | 0.30%             | 2051-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| THIRD CREEK MET DIST NO 1 COLO                         | CO TCMFAC 0 12/01/2051                                                    | CUSIP: 88423EAD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2285000 | PA      | $1587115.30   | 0.09%             | 2051-12-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| THOMPSON CROSSING MET DIST NO 4 COLO                   | CO THMDEV 5 12/01/2039                                                    | CUSIP: 88477EAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1410000 | PA      | $1383054.90   | 0.07%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| THOMPSON CROSSING MET DIST NO 4 COLO                   | CO THMDEV 5 12/01/2049                                                    | CUSIP: 88477EAC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1315000 | PA      | $1183552.60   | 0.06%             | 2049-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRAILSIDE MET DIST NO 4 COLO                           | CO TRMDEV 7 12/15/2051                                                    | CUSIP: 89287MAP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3249000 | PA      | $3266057.25   | 0.18%             | 2051-12-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| TRAILSIDE MET DIST NO 6 COLO                           | CO TRMDEV 7.75 12/01/2054                                                 | CUSIP: 89287PAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2181000 | PA      | $2155329.63   | 0.12%             | 2054-12-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| VALAGUA MET DIST COLO                                  | CO VLGFAC 7.75 12/01/2037                                                 | CUSIP: 91886PAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11500000 | PA      | $2300000.00   | 0.12%             | 2037-12-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| VERMILION CREEK MET DIST NO 3 COLO                     | CO VRCFAC 5.88 12/01/2055                                                 | CUSIP: 923722AA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10019000.00  | 0.54%             | 2055-12-01      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| VERMILION CREEK MET DIST NO 3 COLO                     | CO VRCFAC 8 12/15/2055                                                    | CUSIP: 923722AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2185000 | PA      | $2189020.40   | 0.12%             | 2055-12-15      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| VILLAGES AT MURPHY CREEK MET DIST NO 1 COLO            | CO MCMFAC 5.5 12/01/2051                                                  | CUSIP: 927136AA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12358000 | PA      | $10800397.68  | 0.58%             | 2051-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VINCENT VLG MET DIST COLO                              | CO VVLFAC 5 12/01/2051                                                    | CUSIP: 927300AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1970000 | PA      | $1610218.90   | 0.09%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WATER VY MET DIST NO 3 COLO                            | CO WVYDEV 5.25 12/01/2054                                                 | CUSIP: 94114TAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $560274.00    | 0.03%             | 2054-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WATERFALL MET DIST NO 1 COLO                           | CO WTFFAC 5.25 12/01/2052                                                 | CUSIP: 94133FAC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2265000 | PA      | $2003913.45   | 0.11%             | 2052-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WEEMS NEIGHBORHOOD MET DIST COLO                       | CO WNMFAC 5.88 12/01/2055                                                 | CUSIP: 948572AA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1503795.00   | 0.08%             | 2055-12-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| WEEMS NEIGHBORHOOD MET DIST COLO                       | CO WNMFAC 7.88 12/15/2055                                                 | CUSIP: 948572AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1149000 | PA      | $1150149.00   | 0.06%             | 2055-12-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| WESTCREEK MET DIST NO 2 COLO                           | CO WCRDEV 5.38 12/01/2048                                                 | CUSIP: 95752TAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1284000 | PA      | $1210709.28   | 0.06%             | 2048-12-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| WESTERLY MET DIST NO 4 COLO                            | CO WSTDEV 4.12 12/01/2031                                                 | CUSIP: 957568AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $572334.00    | 0.03%             | 2031-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| WESTERLY MET DIST NO 4 COLO                            | CO WSTDEV 5 12/01/2040                                                    | CUSIP: 957568AB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2255000 | PA      | $2137266.45   | 0.11%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTERLY MET DIST NO 4 COLO                            | CO WSTDEV 5 12/01/2050                                                    | CUSIP: 957568AC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5250000 | PA      | $4776187.50   | 0.26%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                      | CO COSEDU 4.5 06/01/2027                                                  | CUSIP: 19645UCG7<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |  23400000 | PA      | $23357646.00  | 1.25%             | 2027-06-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                      | CO COSEDU 4.5 06/01/2027                                                  | CUSIP: 19645UCH5<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |  17075000 | PA      | $17044094.25  | 0.91%             | 2027-06-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                      | CO COSEDU 4.38 06/01/2027                                                 | CUSIP: 19645UEB6<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   8245000 | PA      | $8049263.70   | 0.43%             | 2027-06-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                      | CO COSEDU 4.38 07/01/2027                                                 | CUSIP: 19645UEJ9<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |  35975000 | PA      | $34043142.50  | 1.83%             | 2027-07-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                      | CO COSEDU 4.38 11/15/2027                                                 | CUSIP: 19645UEM2<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   6525000 | PA      | $6276332.25   | 0.34%             | 2027-11-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                      | CO COSEDU 4.38 07/01/2027                                                 | CUSIP: 19645UET7<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |  23685000 | PA      | $22950054.45  | 1.23%             | 2027-07-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                      | CO COSEDU 4.25 07/01/2029                                                 | CUSIP: 19645UKL7<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   5645000 | PA      | $5223600.75   | 0.28%             | 2029-07-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                      | CO COSEDU 4 07/01/2031                                                    | CUSIP: 19645UKN3<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   2150000 | PA      | $1956177.50   | 0.10%             | 2031-07-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                      | CO COSEDU 4.25 07/01/2041                                                 | CUSIP: 19645UKP8<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   5040000 | PA      | $3884378.40   | 0.21%             | 2041-07-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                      | CO COSEDU 4.5 07/01/2051                                                  | CUSIP: 19645UKQ6<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |  13070000 | PA      | $9391187.10   | 0.50%             | 2051-07-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                      | CO COSEDU 4.5 07/15/2028                                                  | CUSIP: 19645UMA9<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |  19405000 | PA      | $18052859.60  | 0.97%             | 2028-07-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                      | CO COSEDU 4.75 07/15/2029                                                 | CUSIP: 19645UMC5<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   7790000 | PA      | $7496628.60   | 0.40%             | 2029-07-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                      | CO COSEDU 4.5 07/01/2027                                                  | CUSIP: 19645UME1<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   8220000 | PA      | $7797327.60   | 0.42%             | 2027-07-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                      | CO COSEDU 4.75 07/01/2029                                                 | CUSIP: 19645UMG6<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   3945000 | PA      | $3896358.15   | 0.21%             | 2029-07-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                      | CO COSEDU 4.75 07/01/2029                                                 | CUSIP: 19645UMJ0<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   5810000 | PA      | $5746612.90   | 0.31%             | 2029-07-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                      | CO COSEDU 5 07/01/2032                                                    | CUSIP: 19645UMQ4<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |  76170000 | PA      | $75911022.00  | 4.07%             | 2032-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                      | CO COSEDU 6 07/01/2029                                                    | CUSIP: 19645UMR2<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   1960000 | PA      | $1949906.00   | 0.10%             | 2029-07-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                      | CO COSEDU 4.88 01/01/2032                                                 | CUSIP: 19645UMS0<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   3785000 | PA      | $3758088.65   | 0.20%             | 2032-01-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                      | CO COSEDU 5 01/01/2037                                                    | CUSIP: 19645UMT8<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   3595000 | PA      | $3467808.90   | 0.19%             | 2037-01-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| LANTERNS MET DIST NO 2 COLO                            | CO LTNFAC 4.5 12/01/2050                                                  | CUSIP: 51654DAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12492000 | PA      | $9193362.48   | 0.49%             | 2050-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| LANTERNS MET DIST NO 3 COLO                            | CO LANDEV 0 12/01/2053                                                    | CUSIP: 51654GAB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $1778445.00   | 0.10%             | 2053-12-01      | Variable      | 8.00%                 | Yes           |                  2 | On Loan: No      |
| LEGATO CMNTY AUTH COLO                                 | CO LEGDEV 4 12/01/2036                                                    | CUSIP: 52473TAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2130000 | PA      | $1760998.80   | 0.09%             | 2036-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEGATO CMNTY AUTH COLO                                 | CO LEGDEV 5 12/01/2046                                                    | CUSIP: 52473TAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $854520.00    | 0.05%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP                        | PR PRCGEN 0 07/01/2033                                                    | CUSIP: 74529JQF5<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |    378000 | PA      | $268686.18    | 0.01%             | 2033-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP                        | PR PRCGEN 0 07/01/2046                                                    | CUSIP: 74529JQG3<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |   3597000 | PA      | $1138990.05   | 0.06%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP                        | PR PRCGEN 0 07/01/2051                                                    | CUSIP: 74529JQH1<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |   2930000 | PA      | $679877.20    | 0.04%             | 2051-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP                        | PR PRCGEN 4.33 07/01/2040                                                 | CUSIP: 74529JRH0<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |   1424000 | PA      | $1336167.68   | 0.07%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP                        | PR PRCGEN 4.54 07/01/2053                                                 | CUSIP: 74529JRK3<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |     43000 | PA      | $37354.53     | 0.00%             | 2053-07-01      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP                        | PR PRCGEN 4.78 07/01/2058                                                 | CUSIP: 74529JRL1<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |    571000 | PA      | $520335.17    | 0.03%             | 2058-07-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| REATA RIDGE VLG MET DIST NO 2 COLO                     | CO RVLDEV 5 12/01/2049                                                    | CUSIP: 75615TAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1760000 | PA      | $1556790.40   | 0.08%             | 2049-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REMUDA RIDGE MET DIST COLO                             | CO REMDEV 5.62 12/01/2051                                                 | CUSIP: 75972QAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5520000 | PA      | $4632991.20   | 0.25%             | 2051-12-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| RESERVE MET DIST NO 2 MT CRESTED BUTTE COLO            | CO RESFAC 5 12/01/2045                                                    | CUSIP: 76106RAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $461795.00    | 0.02%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RITORO MET DIST COLO                                   | CO RITFAC 6.25 12/15/2057                                                 | CUSIP: 76778TAT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    658000 | PA      | $645754.62    | 0.03%             | 2057-12-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| RIVERDALE PEAKS II MET DIST COLO                       | CO RVDGEN 6.4 12/01/2025                                                  | CUSIP: 768696AA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    930000 | PA      | $837000.00    | 0.04%             | 2025-12-01      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| RIVERDALE PEAKS II MET DIST COLO                       | CO RVDGEN 6.5 12/01/2035                                                  | CUSIP: 768696AB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1021500.00   | 0.05%             | 2035-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| RIVERPARK MET DIST COLO                                | CO RPKFAC 6.38 12/01/2054                                                 | CUSIP: 76883BAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1415000 | PA      | $1399647.25   | 0.08%             | 2054-12-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| RIVERVIEW MET DIST COLO                                | CO RVVFAC 5 12/01/2041                                                    | CUSIP: 769432AA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1105000 | PA      | $1010522.50   | 0.05%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RIVERVIEW MET DIST COLO                                | CO RVVFAC 5 12/01/2051                                                    | CUSIP: 769432AB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2075000 | PA      | $1749038.25   | 0.09%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCK CREEK MET DIST COLO                               | CO RCCDEV 4.5 12/01/2041                                                  | CUSIP: 772042AA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2230000 | PA      | $1780944.90   | 0.10%             | 2041-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ROCK CREEK MET DIST COLO                               | CO RCCDEV 4.75 12/01/2050                                                 | CUSIP: 772042AB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3880000 | PA      | $2907090.00   | 0.16%             | 2050-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ROCK CREEK MET DIST COLO                               | CO RCCDEV 4 12/01/2031                                                    | CUSIP: 772043AA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3432000 | PA      | $3124286.88   | 0.17%             | 2031-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ROSE FARM ACRES MET DIST COLO                          | CO RFADEV 5 12/01/2050                                                    | CUSIP: 777041AA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2935000 | PA      | $2584179.45   | 0.14%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STERLING RANCH MET DIST NO 2 COLO                      | CO STLFAC 5.5 12/01/2042                                                  | CUSIP: 85950PAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5645000 | PA      | $5617734.65   | 0.30%             | 2042-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| STERLING RANCH MET DIST NO 2 COLO                      | CO STLFAC 5.75 12/01/2051                                                 | CUSIP: 85950PAD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11750000 | PA      | $11626390.00  | 0.62%             | 2051-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| STONE RIDGE MET DIST NO 2 COLO                         | CO SRDFAC 7.25 12/01/2031                                                 | CUSIP: 861723AD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11896000 | PA      | $1903360.00   | 0.10%             | 2031-12-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TACOMA WASH CONS LOC IMPT DISTS                        | WA TACGEN 5.75 04/01/2043                                                 | CUSIP: 873472EH3<br>LEI: 549300R2ZDWKQB6DIV86 | Long             | DBT              | MUN               | US        |   1695000 | PA      | $1658320.20   | 0.09%             | 2043-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-29

**Name of Applicant:** COLORADO BONDSHARES A TAX EXEMPT FUND

**Signature:** George N. Donnelly

**Name of Signer:** George N. Donnelly

**Title:** Interim President, Secretary and Treasurer (Principal Executive Officer and Principal Financial Officer)