# EDGAR Filing Document

**Accession Number:** 0000844790
**File Stem:** 0002071691-26-007564
**Filing Date:** 2026-3
**Character Count:** 194885
**Document Hash:** 753e58e1dc8075fe219010a06c83982e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-26-007564.hdr.sgml**: 20260327

**ACCESSION NUMBER**: 0002071691-26-007564

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260327

**DATE AS OF CHANGE**: 20260327

**PERIOD START**: 20261031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PUTNAM MANAGED MUNICIPAL INCOME TRUST
- **CENTRAL INDEX KEY:** 0000844790

**ORGANIZATION NAME:**
- **EIN:** 046608976
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05740
- **FILM NUMBER:** 26805962

**BUSINESS ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 6172921000

**MAIL ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Putnam Managed Municipal Income Trust

- **b. Investment Company Act file number:** 811-05740

- **c. CIK number of Registrant:** 0000844790

- **d. LEI of Registrant:** 549300MCDIUT86HMWI73

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

  - **Street Address 1:** 100 Federal Street

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02110

  - **Telephone number:** 617-292-1000

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

- **a. Name of Series:** Putnam Managed Municipal Income Trust

- **c. LEI of Series:** 549300MCDIUT86HMWI73

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

- **a. Date of fiscal year-end:** 2026-10-31

- **b. Date as of which information is reported:** 2026-01-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $306680407.37

**Total Liabilities:** $20115711.90

**Net Assets:** $286564695.47

**Delayed Delivery Securities:** $533560.00

**Cash Not Reported:** $1.50

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** -518.23000000 | **5-Year:** -2548.52000000 | **10-Year:** -62997.07000000 | **30-Year:** -107866.85000000

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

- **3-Month:** 0.00000000 | **1-Year:** 12.16000000 | **5-Year:** -123.53000000 | **10-Year:** -38015.65000000 | **30-Year:** -102657.21000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 0.40%                | -0.20%               | 0.70%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $115270.65               | $43304.67                                  |
| Month 2  | $-587310.83              | $-1088966.21                               |
| Month 3  | $-39607.06               | $1121388.26                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                                                             | Title                                                                                                    | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| New Jersey Economic Development Authority                                        | New Jersey Economic Development Authority, Series 2013                                                   | CUSIP: 6459182G7<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    850000 | PA      | $851706.89    | 0.30%             | 2033-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| California Community Housing Agency                                              | California Community Housing Agency, Series 2021 A-1                                                     | CUSIP: 13013FAR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $395536.97    | 0.14%             | 2056-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Town of Millsboro DE                                                             | Town of Millsboro, Series 2018                                                                           | CUSIP: 601266AC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    490000 | PA      | $494336.45    | 0.17%             | 2038-07-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Brightline Train Holdings West LLC                                               | Brightline Train Holdings West LLC                                                                       | CUSIP: N/A<br>LEI: 5493000UQOV6R4ZWS346       | Long             | EC               | CORP              | US        |      5400 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Industrial Development Authority of the City of Phoenix Arizona (The)            | Industrial Development Authority of the City of Phoenix Arizona (The), Series 2015 A                     | CUSIP: 71885FDN4<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |    900000 | PA      | $900402.93    | 0.31%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Northridge Community Development District                                        | Northridge Community Development District, Series 2025                                                   | CUSIP: 66668PAC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101862.21    | 0.04%             | 2055-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Cumberland County Municipal Authority                                            | Cumberland County Municipal Authority, Series 2019                                                       | CUSIP: 230614PN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $481151.10    | 0.17%             | 2045-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Riverwalk Community Development District                                         | Riverwalk Community Development District, Series 2025 A                                                  | CUSIP: 76951PAL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $260147.63    | 0.09%             | 2055-05-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| City of Princeton TX                                                             | City of Princeton, Series 2025                                                                           | CUSIP: 742400DQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    270000 | PA      | $269798.28    | 0.09%             | 2055-09-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| City of Anna TX                                                                  | City of Anna, Series 2025                                                                                | CUSIP: 035713BC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $224503.40    | 0.08%             | 2055-09-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Lakewood Ranch Stewardship District                                              | Lakewood Ranch Stewardship District, Series 2023                                                         | CUSIP: 51265KFJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1140000 | PA      | $1196135.31   | 0.42%             | 2054-05-01      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp.                                                | Florida Development Finance Corp., Series 2022 A                                                         | CUSIP: 34061QBU0<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1428074.85   | 0.50%             | 2052-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | New Hampshire Business Finance Authority, Series 2025                                                    | CUSIP: 63607EAD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $672551.24    | 0.23%             | 2065-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | Chicago Board of Education, Series 2023 A                                                                | CUSIP: 167505ZF6<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1741372.05   | 0.61%             | 2047-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| City of Grand Forks ND                                                           | City of Grand Forks, Series 2023 A                                                                       | CUSIP: 38546WEQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2018768.60   | 0.70%             | 2053-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Health & Educational Facilities Authority of the State of Missouri               | Health & Educational Facilities Authority of the State of Missouri, Series 2023 B                        | CUSIP: 60636AWS8<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   1900000 | PA      | $1388603.98   | 0.48%             | 2045-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pasadena Ridge Community Development District                                    | Pasadena Ridge Community Development District, Series 2025                                               | CUSIP: 702300AF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $493892.90    | 0.17%             | 2055-05-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                                        | New York Transportation Development Corp., Series 2020                                                   | CUSIP: 650116CZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1287366.13   | 0.45%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Mesquite TX                                                              | City of Mesquite, Series 2025                                                                            | CUSIP: 590771BN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $98930.58     | 0.03%             | 2055-09-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Tolomato Community Development District                                          | Tolomato Community Development District, Series 2024                                                     | CUSIP: 889560FB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $505170.23    | 0.18%             | 2054-05-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | Public Finance Authority, Series 2024                                                                    | CUSIP: 744396KG6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $910158.10    | 0.32%             | 2055-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lancaster Municipal Authority                                                    | Lancaster Municipal Authority, Series 2024                                                               | CUSIP: 514350AM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $897666.21    | 0.31%             | 2049-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                       | Michigan Finance Authority, Series 2021                                                                  | CUSIP: 594479GQ4<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    500000 | PA      | $378119.40    | 0.13%             | 2046-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Austin TX                                                                | City of Austin, Series 2024                                                                              | CUSIP: 052466BD0<br>LEI: IW10PQVTU7HKS3JMW253 | Long             | DBT              | MUN               | US        |    750000 | PA      | $730577.40    | 0.25%             | 2053-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                    | Main Street Natural Gas, Inc., Series 2023 E-1                                                           | CUSIP: 56035DGB2<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2357696.88   | 0.82%             | 2053-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Clifton Higher Education Finance Corp.                                           | Clifton Higher Education Finance Corp., Series 2022 A                                                    | CUSIP: 187145PG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1028275.92   | 0.36%             | 2051-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp.                                               | New York Liberty Development Corp., Series 2021 A                                                        | CUSIP: 649519DW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4215000 | PA      | $3036485.58   | 1.06%             | 2051-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL                                                               | City of Chicago, Series 2020 A                                                                           | CUSIP: 167486G45<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1893619.80   | 0.66%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Township of Baytown MN                                                           | Township of Baytown, Series 2016 A                                                                       | CUSIP: 073225AX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    380000 | PA      | $337820.42    | 0.12%             | 2041-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | Public Finance Authority, Series 2024-1, Class B-1                                                       | CUSIP: 74448FAA9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1425000 | PA      | $1476121.73   | 0.52%             | 2036-04-28      | Fixed         | 6.81%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                      | Washington State Housing Finance Commission, Series 2023 A                                               | CUSIP: 939783Q74<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1197280.68   | 0.42%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | Illinois Finance Authority, Series 2021 A                                                                | CUSIP: 45204FHV0<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    815000 | PA      | $699328.84    | 0.24%             | 2056-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arlington Higher Education Finance Corp.                                         | Arlington Higher Education Finance Corp., Series 2021 A                                                  | CUSIP: 041806L65<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    610000 | PA      | $535134.58    | 0.19%             | 2041-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| James City County Economic Development Authority                                 | James City County Economic Development Authority, Series 2021 A                                          | CUSIP: 47029WED5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1235000 | PA      | $969812.40    | 0.34%             | 2050-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Maryland Economic Development Corp.                                              | Maryland Economic Development Corp., Series 2020                                                         | CUSIP: 57422FAF3<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |    750000 | PA      | $604083.08    | 0.21%             | 2050-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Brunswick MD                                                             | City of Brunswick, Series 2019                                                                           | CUSIP: 117250AE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    548000 | PA      | $559874.50    | 0.20%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Authority                                                          | Capital Trust Authority, Series 2025                                                                     | CUSIP: 14054WDC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $422005.58    | 0.15%             | 2060-07-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Sterling Ranch Community Authority Board                                         | Sterling Ranch Community Authority Board, Series 2024 A                                                  | CUSIP: 85950NAW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1034297.70   | 0.36%             | 2054-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| City of Venice FL                                                                | City of Venice, Series 2024 A                                                                            | CUSIP: 922687AE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $372776.63    | 0.13%             | 2060-01-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Miami-Dade County Industrial Development Authority                               | Miami-Dade County Industrial Development Authority, Series 2014                                          | CUSIP: 59333ECQ4<br>LEI: 549300RM19LZY32DAU30 | Long             | DBT              | MUN               | US        |   1225000 | PA      | $1226176.25   | 0.43%             | 2034-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Iowa Finance Authority                                                           | Iowa Finance Authority, Series 2024 A                                                                    | CUSIP: 46247SFV1<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1411325.10   | 0.49%             | 2059-05-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Arlington Higher Education Finance Corp.                                         | Arlington Higher Education Finance Corp., Series 2022                                                    | CUSIP: 041807CE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1109596.40   | 0.39%             | 2062-06-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Industrial Development Authority of the County of Yavapai (The)                  | Industrial Development Authority of the County of Yavapai (The), Series 2012                             | CUSIP: 98521VAD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $750396.38    | 0.26%             | 2032-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Development Authority of Cobb County (The)                                       | Development Authority of Cobb County (The), Series C                                                     | CUSIP: 190778JV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    740000 | PA      | $740067.56    | 0.26%             | 2038-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Health & Educational Facilities Authority of the State of Missouri               | Health & Educational Facilities Authority of the State of Missouri, Series 2023 A                        | CUSIP: 60636AWD1<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   2270000 | PA      | $1728963.21   | 0.60%             | 2043-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                           | North Carolina Medical Care Commission, Series 2020 A                                                    | CUSIP: 65820YRR9<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    500000 | PA      | $477904.75    | 0.17%             | 2045-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                       | Michigan Finance Authority, Series 2017                                                                  | CUSIP: 594479DD6<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    650000 | PA      | $598762.58    | 0.21%             | 2047-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                         | Massachusetts Development Finance Agency, Series 2015 D                                                  | CUSIP: 57583U6R4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    365000 | PA      | $361554.84    | 0.13%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Economic Development Corp.                                              | Maryland Economic Development Corp., Series 2020                                                         | CUSIP: 57422FAE6<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |    755000 | PA      | $703730.89    | 0.25%             | 2040-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Berkeley SC                                                            | County of Berkeley, Series 2019                                                                          | CUSIP: 084220AC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $874519.40    | 0.31%             | 2049-11-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| City of Goose Creek SC                                                           | City of Goose Creek, Series 2025                                                                         | CUSIP: 38259TAC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $175628.92    | 0.06%             | 2055-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Kissimmee Park Community Development District                                    | Kissimmee Park Community Development District, Series 2025                                               | CUSIP: 497859AD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    370000 | PA      | $381201.53    | 0.13%             | 2056-05-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Colorado Educational & Cultural Facilities Authority                             | Colorado Educational & Cultural Facilities Authority, Series 2021                                        | CUSIP: 19645UGF5<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |    175000 | PA      | $162642.20    | 0.06%             | 2041-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp.                                               | New York Liberty Development Corp., Series 2021 A                                                        | CUSIP: 649519EH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2183832.00   | 0.76%             | 2051-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SkyRidge Pegasus Infrastructure Financing District                               | SkyRidge Pegasus Infrastructure Financing District, Series 2024                                          | CUSIP: 83089AAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $298747.86    | 0.10%             | 2044-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Rhode Island Health and Educational Building Corp.                               | Rhode Island Health and Educational Building Corp., Series 2025 A                                        | CUSIP: 762244PA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1494029.10   | 0.52%             | 2060-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dallas Area Rapid Transit                                                        | Dallas Area Rapid Transit, Series 2020 A                                                                 | CUSIP: 235241UX2<br>LEI: 75YWM81F2R6UQGJIEW47 | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7257784.10   | 2.53%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency, Inc.                                                       | Capital Trust Agency, Inc., Series 2021 A-1                                                              | CUSIP: 14052WDT1<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |   1900000 | PA      | $1572812.59   | 0.55%             | 2056-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Las Vegas NV Special Improvement District No. 815                        | City of Las Vegas, Series 2020                                                                           | CUSIP: 51778VAQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $587639.17    | 0.21%             | 2049-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Northridge Community Development District                                        | Northridge Community Development District, Series 2025                                                   | CUSIP: 66668PAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $102668.25    | 0.04%             | 2045-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| City of Hutto TX                                                                 | City of Hutto, Series 2025                                                                               | CUSIP: 448529AW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    390000 | PA      | $384750.33    | 0.13%             | 2045-09-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Sarasota County Public Hospital District                                         | Sarasota County Public Hospital District, Series 2018                                                    | CUSIP: 803301DK3<br>LEI: 549300JY4SF4DU1YDF85 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1330957.35   | 0.46%             | 2048-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| St. Johns County Industrial Development Authority                                | St. Johns County Industrial Development Authority, Series 2021 A                                         | CUSIP: 79041LAN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $452947.80    | 0.16%             | 2041-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | Public Finance Authority, Series 2024                                                                    | CUSIP: 74441XHS1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    800000 | PA      | $819696.72    | 0.29%             | 2039-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                      | Washington State Housing Finance Commission, Series 2016                                                 | CUSIP: 939783TQ9<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    580000 | PA      | $581368.05    | 0.20%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                             | District of Columbia, Series 2019                                                                        | CUSIP: 25483VWC4<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    750000 | PA      | $677237.70    | 0.24%             | 2044-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                           | North Carolina Medical Care Commission, Series 2021 C                                                    | CUSIP: 65821DYS4<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   2320000 | PA      | $2339540.90   | 0.82%             | 2036-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Colorado Educational & Cultural Facilities Authority                             | Colorado Educational & Cultural Facilities Authority, Series 2021                                        | CUSIP: 19645UGE8<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |    150000 | PA      | $150023.45    | 0.05%             | 2036-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MIDA Mountain Village Public Infrastructure District                             | MIDA Mountain Village Public Infrastructure District, Series 2020 A                                      | CUSIP: 59561TAC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1045000 | PA      | $1021389.90   | 0.36%             | 2050-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cedar Crossings Community Development District                                   | Cedar Crossings Community Development District, Series 2025                                              | CUSIP: 15018WAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $155980.34    | 0.05%             | 2055-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Connerton East Community Development District                                    | Connerton East Community Development District, Series 2025                                               | CUSIP: 208185AM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $157295.22    | 0.05%             | 2055-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Horace ND                                                                | City of Horace, Series 2024 C                                                                            | CUSIP: 440365JN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1103933.38   | 0.39%             | 2044-05-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | Public Finance Authority, Series 2023 A                                                                  | CUSIP: 74439YEU1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $966283.50    | 0.34%             | 2063-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| City of Las Vegas NV Special Improvement District No. 817                        | City of Las Vegas, Series 2023                                                                           | CUSIP: 51779BAM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    495000 | PA      | $528299.10    | 0.18%             | 2043-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Du Page County Special Service Area No. 31                                       | Du Page County Special Service Area No. 31, Series 2006                                                  | CUSIP: 26350TAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    233000 | PA      | $233593.36    | 0.08%             | 2036-03-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Hunt Club Grove Community Development District                                   | Hunt Club Grove Community Development District, Series 2026                                              | CUSIP: 445583AF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $175220.38    | 0.06%             | 2055-12-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority                                       | Metropolitan Washington Airports Authority                                                               | CUSIP: 592643DJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1065000 | PA      | $912896.06    | 0.32%             | 2053-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Washington Metropolitan Area Transit Authority Dedicated Revenue                 | Washington Metropolitan Area Transit Authority, Series 2024 A                                            | CUSIP: 93878YDX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5123099.00   | 1.79%             | 2056-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                             | Colorado Health Facilities Authority, Series 2025                                                        | CUSIP: 19648FZP2<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    350000 | PA      | $351545.22    | 0.12%             | 2059-09-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | Chicago Board of Education, Series 2025 A                                                                | CUSIP: 167505ZM1<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    850000 | PA      | $858638.30    | 0.30%             | 2050-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                         | Massachusetts Development Finance Agency, Series 2007                                                    | CUSIP: 57585AAB6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    995000 | PA      | $9.95         | 0.00%             | 2028-10-15      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| Ohio Higher Educational Facility Commission                                      | Ohio Higher Educational Facility Commission, Series 2024                                                 | CUSIP: 67756DS72<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |   1560000 | PA      | $1531425.17   | 0.53%             | 2049-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Grand Forks ND                                                           | City of Grand Forks, Series 2023 A                                                                       | CUSIP: 38546WEP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $356899.94    | 0.12%             | 2048-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                               | South Carolina Jobs-Economic Development Authority, Series 2018 A                                        | CUSIP: 83704MAM8<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $883006.00    | 0.31%             | 2049-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Cherry Hill Community Development Authority                                      | Cherry Hill Community Development Authority, Series 2015                                                 | CUSIP: 164631AC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    995000 | PA      | $995725.65    | 0.35%             | 2045-03-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finance Corp.                       | Tarrant County Cultural Education Facilities Finance Corp., Series 2024                                  | CUSIP: 87638TJK0<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $994654.00    | 0.35%             | 2049-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                             | District of Columbia, Series 2006 A                                                                      | CUSIP: 254842BB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7500000 | PA      | $1758138.00   | 0.61%             | 2046-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| River Landing Community Development District                                     | River Landing Community Development District, Series 2025                                                | CUSIP: 76828JAM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $238367.52    | 0.08%             | 2055-05-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Industrial Development Authority of the City of Phoenix Arizona (The)            | Industrial Development Authority of the City of Phoenix Arizona (The), Series 2016 A                     | CUSIP: 71885FEB9<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |    250000 | PA      | $239187.98    | 0.08%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                                          | Port Authority of New York & New Jersey                                                                  | CUSIP: 73358W4C5<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   2460000 | PA      | $2501775.47   | 0.87%             | 2049-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Dripping Springs TX                                                      | City of Dripping Springs, Series 2025                                                                    | CUSIP: 262062AJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $296369.13    | 0.10%             | 2055-09-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | Public Finance Authority, Series 2025 B                                                                  | CUSIP: 74439YFZ9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    410000 | PA      | $412842.90    | 0.14%             | 2055-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Lakewood Ranch Stewardship District                                              | Lakewood Ranch Stewardship District, Series 2020                                                         | CUSIP: 51265KEN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $207571.28    | 0.07%             | 2050-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Princeton TX                                                             | City of Princeton, Series 2025                                                                           | CUSIP: 742400DW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $249813.23    | 0.09%             | 2055-09-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Highland Trails Community Development District                                   | Highland Trails Community Development District, Series 2025                                              | CUSIP: 430813AG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $99649.55     | 0.03%             | 2056-05-01      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Grays Harbor County Public Hospital District No. 1                               | Grays Harbor County Public Hospital District No. 1, Series 2023                                          | CUSIP: 389526AJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3288566.70   | 1.15%             | 2053-12-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CMFA Special Finance Agency VII                                                  | CMFA Special Finance Agency VII, Series 2021 A-1                                                         | CUSIP: 12574UAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $344104.75    | 0.12%             | 2056-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Lakewood Ranch Stewardship District                                              | Lakewood Ranch Stewardship District, Series 2019                                                         | CUSIP: 51265KCW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $975356.00    | 0.34%             | 2040-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Maricopa County Industrial Development Authority                                 | Maricopa County Industrial Development Authority, Series 2024                                            | CUSIP: 56681NJD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1919632.50   | 0.67%             | 2029-10-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | Public Finance Authority, Series 2023-1, Class A                                                         | CUSIP: 74448GAA7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2126297 | PA      | $2221443.47   | 0.78%             | 2062-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Lakewood Ranch Stewardship District                                              | Lakewood Ranch Stewardship District, Series 2016                                                         | CUSIP: 51265KAW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    740000 | PA      | $740040.33    | 0.26%             | 2046-05-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Industrial Development Authority of the City of Phoenix Arizona (The)            | Industrial Development Authority of the City of Phoenix Arizona (The), Series 2014 A                     | CUSIP: 71885FDK0<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1700084.66   | 0.59%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                            | Louisiana Public Facilities Authority, Series 2024                                                       | CUSIP: 546399SZ0<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1546590.45   | 0.54%             | 2064-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Texas Transportation Finance Corp.                                               | Texas Transportation Finance Corp., Series 2025 A                                                        | CUSIP: 88283PAP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7583739.10   | 2.65%             | 2055-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Ramsey MN                                                                | City of Ramsey, Series 2022 A                                                                            | CUSIP: 751814AA2<br>LEI: 549300PYUDKBK3S78343 | Long             | DBT              | MUN               | US        |    575000 | PA      | $584830.14    | 0.20%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Golden State Connect Authority                                                   | Golden State Connect Authority, Series 2025                                                              | CUSIP: 38121BAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $508499.36    | 0.18%             | 2060-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                         | Arizona Industrial Development Authority, Series 2021 A                                                  | CUSIP: 04052BMS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $449866.15    | 0.16%             | 2041-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Lower Magnolia Green Community Development Authority                             | Lower Magnolia Green Community Development Authority, Series 2015                                        | CUSIP: 548207AB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $455168.30    | 0.16%             | 2035-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Airport Comm-San Francisco International Airport     | San Francisco City & County Airport Comm-San Francisco International Airport, Series 2019 A              | CUSIP: 79766DWE5<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   7420000 | PA      | $6572115.12   | 2.29%             | 2049-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Colorado Educational & Cultural Facilities Authority                             | Colorado Educational & Cultural Facilities Authority, Series 2021                                        | CUSIP: 19645UGG3<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |    350000 | PA      | $286704.57    | 0.10%             | 2051-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Cypress Reserve Community Development District                                   | Cypress Reserve Community Development District, Series 2025                                              | CUSIP: 23280AAC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200508.32    | 0.07%             | 2056-05-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| City of Aubrey TX                                                                | City of Aubrey, Series 2025                                                                              | CUSIP: 050197BX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $108919.92    | 0.04%             | 2055-12-31      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| City of Princeton TX                                                             | City of Princeton, Series 2025                                                                           | CUSIP: 742400DT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $249813.23    | 0.09%             | 2055-09-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| GIR East Community Development District                                          | GIR East Community Development District, Series 2025                                                     | CUSIP: 37611TAC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $560554.33    | 0.20%             | 2055-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL Lakeshore East Special Assessment Area                        | City of Chicago, Series 2022                                                                             | CUSIP: 167686AN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    341000 | PA      | $331267.69    | 0.12%             | 2031-12-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp.                                               | New York Liberty Development Corp., Series 1WTC 2021                                                     | CUSIP: 649519EN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1835000 | PA      | $1403098.25   | 0.49%             | 2044-02-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Westview South Community Development District                                    | Westview South Community Development District, Series 2025                                               | CUSIP: 961566AJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $284596.46    | 0.10%             | 2055-05-01      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                         | Massachusetts Development Finance Agency, Series 2021                                                    | CUSIP: 57584YM97<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $918028.80    | 0.32%             | 2040-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                              | Wisconsin Health & Educational Facilities Authority, Series 2024                                         | CUSIP: 97712JJX2<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    300000 | PA      | $311206.35    | 0.11%             | 2059-10-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| County of Palm Beach FL                                                          | County of Palm Beach, Series 2019 A                                                                      | CUSIP: 696547GJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1617283.52   | 0.56%             | 2039-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Village Community Development District No. 12                                    | Village Community Development District No. 12, Series 2018                                               | CUSIP: 92708FAG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    665000 | PA      | $671685.64    | 0.23%             | 2033-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                        | Indiana Finance Authority, Series 2023 A                                                                 | CUSIP: 45471FAG6<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    500000 | PA      | $493802.60    | 0.17%             | 2058-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                             | Colorado Health Facilities Authority, Series 2016                                                        | CUSIP: 19648FAY0<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500412.45    | 0.17%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                               | South Carolina Jobs-Economic Development Authority, Series 2025                                          | CUSIP: 837031J61<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    250000 | PA      | $250716.18    | 0.09%             | 2051-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                      | Washington State Housing Finance Commission, Series 2016 A                                               | CUSIP: 939783TH9<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1183906.27   | 0.41%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                           | California Municipal Finance Authority, Series 2024                                                      | CUSIP: 130497AX8<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    800000 | PA      | $838551.60    | 0.29%             | 2054-06-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                             | District of Columbia, Series 2022 A                                                                      | CUSIP: 25483VA53<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1365000 | PA      | $1594368.18   | 0.56%             | 2036-08-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Northeast Ohio Medical University                                                | Northeast Ohio Medical University, Series 2021 A                                                         | CUSIP: 66433RBE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $399958.56    | 0.14%             | 2045-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Suffolk Regional Off-Track Betting Co.                                           | Suffolk Regional Off-Track Betting Co., Series 2024                                                      | CUSIP: 86480TAC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2040106.20   | 0.71%             | 2053-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | Illinois Finance Authority, Series 2021 A                                                                | CUSIP: 45204FHU2<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $875848.30    | 0.31%             | 2051-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Baldwin County Industrial Development Authority                                  | Baldwin County Industrial Development Authority, Series 2025 A                                           | CUSIP: 05786PAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $511364.65    | 0.18%             | 2055-06-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| MIDA Cormont Public Infrastructure District                                      | MIDA Cormont Public Infrastructure District, Series 2025 A-2                                             | CUSIP: 59561JAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $426772.90    | 0.15%             | 2055-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority                                            | CSCDA Community Improvement Authority, Series 2021 B                                                     | CUSIP: 126292AX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $379105.70    | 0.13%             | 2057-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Pier & Exposition Authority                                         | Metropolitan Pier & Exposition Authority, Series 2017 B                                                  | CUSIP: 592250CY8<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1105544.55   | 0.39%             | 2047-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                           | California Municipal Finance Authority, Series 2025-1, Class B                                           | CUSIP: 13050WAC5<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    500000 | PA      | $311329.40    | 0.11%             | 2049-06-20      | Variable      | 3.44%                 | No            |                  2 | On Loan: No      |
| Military Installation Development Authority                                      | Military Installation Development Authority, Series 2021 A-2                                             | CUSIP: 599772AF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $808417.00    | 0.28%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                            | Pennsylvania Economic Development Financing Authority, Series 2022                                       | CUSIP: 70868YAY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1058127.50   | 0.37%             | 2061-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| City of Manor TX                                                                 | City of Manor, Series 2025                                                                               | CUSIP: 564099AV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $157250.93    | 0.05%             | 2055-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | Illinois Finance Authority, Series 2017 A                                                                | CUSIP: 45203KAP0<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1433137.80   | 0.50%             | 2047-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southpointe of Manatee County Community Development District                     | Southpointe of Manatee County Community Development District, Series 2026                                | CUSIP: 844654AC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $179226.40    | 0.06%             | 2056-05-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| City of Lavon TX                                                                 | City of Lavon, Series 2025                                                                               | CUSIP: 51946PCS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $109676.90    | 0.04%             | 2055-09-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| County of Prince George's MD                                                     | County of Prince George's, Series 2018                                                                   | CUSIP: 74172RBP1<br>LEI: 549300NSQ1W50I0VU811 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1008318.10   | 0.35%             | 2039-07-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                                | Philadelphia Authority for Industrial Development, Series 2017                                           | CUSIP: 71781XGT4<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    807977 | PA      | $161595.49    | 0.06%             | 2045-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Parkside Trails Community Development District                                   | Parkside Trails Community Development District, Series 2025                                              | CUSIP: 70147QAD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $369819.04    | 0.13%             | 2055-05-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Rampart Range Metropolitan District No. 5                                        | Rampart Range Metropolitan District No. 5, Series 2021                                                   | CUSIP: 75157WAB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $903693.80    | 0.32%             | 2041-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                        | City of Houston Airport System, Series 2021 A                                                            | CUSIP: 442349FZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1152992.25   | 0.40%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                             | District of Columbia, Series 2017 A                                                                      | CUSIP: 25483VSG0<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $929729.40    | 0.32%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Coweta County Development Authority                                              | Coweta County Development Authority, Series 2019 A                                                       | CUSIP: 223658QF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4104649.60   | 1.43%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                      | Washington State Housing Finance Commission, Series 2023-1, Class A                                      | CUSIP: 93978T4M8<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   3128287 | PA      | $2991611.30   | 1.04%             | 2037-04-20      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Health & Educational Facilities Authority of the State of Missouri               | Health & Educational Facilities Authority of the State of Missouri, Series 2017 A                        | CUSIP: 60637AMM1<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   5600000 | PA      | $5049387.28   | 1.76%             | 2048-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Michigan State Housing Development Authority                                     | Michigan State Housing Development Authority, Series 2021 A                                              | CUSIP: 59465PBA5<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $621987.00    | 0.22%             | 2059-10-01      | Fixed         | 2.73%                 | No            |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority                                            | CSCDA Community Improvement Authority, Series 2021 A-2                                                   | CUSIP: 126292AF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7150000 | PA      | $5349906.71   | 1.87%             | 2056-08-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp.                             | New Hope Cultural Education Facilities Finance Corp., Series 2018 A-1                                    | CUSIP: 64542YAM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $873895.90    | 0.30%             | 2053-07-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                             | Puerto Rico Electric Power Authority, Series TT                                                          | CUSIP: 74526YDB8<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |   2335000 | PA      | $1558612.50   | 0.54%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arlington Higher Education Finance Corp.                                         | Arlington Higher Education Finance Corp., Series 2024                                                    | CUSIP: 041807JX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1079149.68   | 0.38%             | 2064-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kalispel Tribe of Indians                                                        | Kalispel Tribe of Indians, Series 2018 A                                                                 | CUSIP: 48340PAS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $765559.28    | 0.27%             | 2038-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Detroit MI                                                               | City of Detroit, Series B-1                                                                              | CUSIP: 251093S84<br>LEI: 549300BQRJP7MKKHOY28 | Long             | DBT              | MUN               | US        |   3952414 | PA      | $3113236.27   | 1.09%             | 2044-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Gainesville & Hall County Hospital Authority                                     | Gainesville & Hall County Hospital Authority, Series 2021 A                                              | CUSIP: 362762QQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1423429.00   | 0.50%             | 2051-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| City of Mansfield TX                                                             | City of Mansfield, Series 2025                                                                           | CUSIP: 56439QAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $359634.35    | 0.13%             | 2055-09-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Central Parc Community Development District                                      | Central Parc Community Development District, Series 2024                                                 | CUSIP: 15477DAC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $755919.83    | 0.26%             | 2054-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                             | District of Columbia, Series 2021 A                                                                      | CUSIP: 25483VYC2<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    400000 | PA      | $341343.12    | 0.12%             | 2061-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Industrial Development Authority of the County of Yavapai (The)                  | Industrial Development Authority of the County of Yavapai (The), Series 2015 A                           | CUSIP: 98521VAG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    460000 | PA      | $460183.31    | 0.16%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hills of Minneola Community Development District                                 | Hills of Minneola Community Development District, Series 2026                                            | CUSIP: 431688AP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $180202.82    | 0.06%             | 2056-05-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Southeastern Ohio Port Authority                                                 | Southeastern Ohio Port Authority, Series 2015                                                            | CUSIP: 841895AV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $137818.50    | 0.05%             | 2043-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | Public Finance Authority, Series 2019 A                                                                  | CUSIP: 74442EEH9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    910000 | PA      | $817646.47    | 0.29%             | 2054-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Firethorn Community Development District                                         | Firethorn Community Development District, Series 2025                                                    | CUSIP: 31832AAD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $272380.30    | 0.10%             | 2055-05-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Sarasota County Health Facilities Authority                                      | Sarasota County Health Facilities Authority, Series 2017 A                                               | CUSIP: 80329UAY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006003.10   | 0.35%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Municipal Loan Council                                                   | Florida Municipal Loan Council, Series 2024                                                              | CUSIP: 34281UAB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $666625.96    | 0.23%             | 2044-05-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Cypress Bluff Community Development District                                     | Cypress Bluff Community Development District, Series 2025                                                | CUSIP: 23267AAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    660000 | PA      | $658385.31    | 0.23%             | 2055-05-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                      | Washington State Housing Finance Commission, Series 2023                                                 | CUSIP: 93978LGR1<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    560000 | PA      | $598921.46    | 0.21%             | 2063-07-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | Chicago Board of Education, Series 2015 C                                                                | CUSIP: 167505QR0<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1483920.75   | 0.52%             | 2039-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Delaware State Economic Development Authority                                    | Delaware State Economic Development Authority, Series 2016 A                                             | CUSIP: 246387RV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    705000 | PA      | $705992.29    | 0.25%             | 2036-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Utah Infrastructure Agency                                                       | Utah Infrastructure Agency, Series 2025                                                                  | CUSIP: 917467DF6<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |    350000 | PA      | $349857.90    | 0.12%             | 2049-10-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Public Finance Authority                                              | California Public Finance Authority, Series 2021 A                                                       | CUSIP: 13057GAD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $661928.33    | 0.23%             | 2056-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | Public Finance Authority, Series 2016 C                                                                  | CUSIP: 74443QAD4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    300000 | PA      | $300163.77    | 0.10%             | 2030-11-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Chester County Industrial Development Authority                                  | Chester County Industrial Development Authority, Series 2017 A                                           | CUSIP: 165588DK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $740878.88    | 0.26%             | 2037-10-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                               | South Carolina Jobs-Economic Development Authority, Series 2018 A                                        | CUSIP: 83704MAL0<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    500000 | PA      | $480160.75    | 0.17%             | 2039-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | Public Finance Authority, Series 2020                                                                    | CUSIP: 74442PZU2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1095865.30   | 0.38%             | 2040-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Palm Desert CA                                                           | City of Palm Desert, Series 2021                                                                         | CUSIP: 696627ER5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $432237.47    | 0.15%             | 2041-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Maricopa County Industrial Development Authority                                 | Maricopa County Industrial Development Authority, Series 2016                                            | CUSIP: 56681NAN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $752325.00    | 0.26%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Lancaster SC                                                           | County of Lancaster, Series 2025                                                                         | CUSIP: 514088BN2<br>LEI: 5493004EFQNI7UOCFI47 | Long             | DBT              | MUN               | US        |    120000 | PA      | $123119.32    | 0.04%             | 2055-06-01      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                      | Washington State Housing Finance Commission, Series 2021 A                                               | CUSIP: 93978LGH3<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1130000 | PA      | $951557.07    | 0.33%             | 2056-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | Public Finance Authority, Series 2019                                                                    | CUSIP: 74445GAR3<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1095049.09   | 0.38%             | 2053-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Matagorda County Navigation District No. 1                                       | Matagorda County Navigation District No. 1, Series 2005 A                                                | CUSIP: 576528CY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1313274.13   | 0.46%             | 2030-05-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | New Hampshire Business Finance Authority, Series 2024-2, Class A                                         | CUSIP: 63607WAU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2222989 | PA      | $2171998.92   | 0.76%             | 2039-08-20      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Town of Millsboro DE                                                             | Town of Millsboro, Series 2018                                                                           | CUSIP: 601266AD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    997000 | PA      | $969237.14    | 0.34%             | 2048-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                      | Washington State Housing Finance Commission, Series 2021-1, Class A                                      | CUSIP: 93978TS59<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |         0 | PA      | $0.02         | 0.00%             | 2035-12-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Verandah West Community Development District                                     | Verandah West Community Development District, Series 2013                                                | CUSIP: 922947AD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    410000 | PA      | $410413.53    | 0.14%             | 2033-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oneida Indian Nation of New York                                                 | Oneida Indian Nation of New York, Series 2024 A                                                          | CUSIP: 682504AB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1016249.50   | 0.35%             | 2040-09-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Chicago Midway International Airport                                             | Chicago Midway International Airport, Series 2023 C                                                      | CUSIP: 167562TL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1332303.50   | 0.46%             | 2040-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dallas Area Municipal Authority                                                  | Dallas Area Municipal Authority, Series 2019                                                             | CUSIP: 235171AR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2040000 | PA      | $1808165.22   | 0.63%             | 2048-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Town of Bridgeville DE                                                           | Town of Bridgeville, Series 2024                                                                         | CUSIP: 108588AN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $880340.65    | 0.31%             | 2044-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Iowa Finance Authority                                                           | Iowa Finance Authority, Series 2023 B                                                                    | CUSIP: 46247SFF6<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |    600000 | PA      | $665402.76    | 0.23%             | 2053-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| West Port East Community Development District                                    | West Port East Community Development District, Series 2025                                               | CUSIP: 95549KAB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    185000 | PA      | $191481.29    | 0.07%             | 2045-05-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Passaic County Improvement Authority (The)                                       | Passaic County Improvement Authority (The), Series 2023                                                  | CUSIP: 70275QAD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $457461.27    | 0.16%             | 2058-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Cypress Creek Reserve Community Development District                             | Cypress Creek Reserve Community Development District, Series 2025                                        | CUSIP: 23274FAD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $107919.43    | 0.04%             | 2056-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                      | Washington State Housing Finance Commission, Series 2024-1, Class A                                      | CUSIP: 93978UAA4<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    743367 | PA      | $732780.82    | 0.26%             | 2040-03-20      | Variable      | 4.08%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | New Hampshire Business Finance Authority, Series 2024-3, Class A                                         | CUSIP: 63607WAW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    990738 | PA      | $999907.65    | 0.35%             | 2041-10-20      | Variable      | 4.16%                 | No            |                  2 | On Loan: No      |
| City of Las Vegas NV Special Improvement District No. 817                        | City of Las Vegas, Series 2023                                                                           | CUSIP: 51779BAP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $523557.50    | 0.18%             | 2053-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority                                            | CSCDA Community Improvement Authority, Series 2021 A-1                                                   | CUSIP: 126292AE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    835000 | PA      | $785363.59    | 0.27%             | 2041-08-01      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Salt Verde Financial Corp.                                                       | Salt Verde Financial Corp., Series 2007-1                                                                | CUSIP: 79575EAQ1<br>LEI: 549300VEWOZY6TQOIF03 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2166162.80   | 0.76%             | 2029-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Sunrise Community Development District                                           | Sunrise Community Development District, Series 2025                                                      | CUSIP: 86771UAD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $488255.60    | 0.17%             | 2055-05-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Verano No. 4 Community Development District                                      | Verano No. 4 Community Development District, Series 2025                                                 | CUSIP: 92337SAF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $154485.84    | 0.05%             | 2055-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Bella Tara Community Development District                                        | Bella Tara Community Development District, Series 2025                                                   | CUSIP: 07820BAD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $103027.44    | 0.04%             | 2056-05-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Kings Creek I Community Development District                                     | Kings Creek I Community Development District, Series 2025                                                | CUSIP: 495879AD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $127234.41    | 0.04%             | 2055-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                              | Wisconsin Health & Educational Facilities Authority, Series 2021                                         | CUSIP: 97712JEE9<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    650000 | PA      | $507097.96    | 0.18%             | 2057-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Buckeye Tobacco Settlement Financing Authority                                   | Buckeye Tobacco Settlement Financing Authority, Series 2020 A-2, Class 1                                 | CUSIP: 118217CW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $919416.03    | 0.32%             | 2048-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities & Community Development Auth | Louisiana Local Government Environmental Facilities & Community Development Authority, Series 2024       | CUSIP: 54628C3A8<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1234124.32   | 0.43%             | 2053-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Las Vegas NV Special Improvement District No. 817                        | City of Las Vegas, Series 2023                                                                           | CUSIP: 51779BAL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $406629.19    | 0.14%             | 2038-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Governors Park South Community Development District                              | Governors Park South Community Development District, Series 2025                                         | CUSIP: 383670AC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $369350.51    | 0.13%             | 2055-05-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Maxatawny Township Municipal Authority                                           | Maxatawny Township Municipal Authority, Series 2022 A                                                    | CUSIP: 57778PAC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1446914.84   | 0.50%             | 2041-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Center Lake Ranch West Community Development District                            | Center Lake Ranch West Community Development District, Series 2025                                       | CUSIP: 151500AG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300054.96    | 0.10%             | 2055-05-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Northeast Ohio Medical University                                                | Northeast Ohio Medical University, Series 2021 A                                                         | CUSIP: 66433RBD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1575000 | PA      | $1330301.86   | 0.46%             | 2040-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| La Paz County Industrial Development Authority                                   | La Paz County Industrial Development Authority, Series 2018 A                                            | CUSIP: 50376FAR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $508564.30    | 0.18%             | 2038-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| West Virginia Hospital Finance Authority                                         | West Virginia Hospital Finance Authority, Series 2023 B                                                  | CUSIP: 956622W83<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5250000 | PA      | $5682457.20   | 1.98%             | 2048-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Authority                                                          | Capital Trust Authority, Series 2025 A                                                                   | CUSIP: 14054WCH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $834855.12    | 0.29%             | 2050-07-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Harris County Cultural Education Facilities Finance Corp.                        | Harris County Cultural Education Facilities Finance Corp., Series 2016                                   | CUSIP: 414009LD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $60157.40     | 0.02%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Atlanta Development Authority (The)                                              | Atlanta Development Authority (The), Series 2025 A                                                       | CUSIP: 04777LDW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $118594.26    | 0.04%             | 2055-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Iowa Finance Authority                                                           | Iowa Finance Authority, Series 2025                                                                      | CUSIP: 46247CER6<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |    300000 | PA      | $305280.51    | 0.11%             | 2055-10-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| City of Manor TX                                                                 | City of Manor, Series 2025                                                                               | CUSIP: 564099AY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $128014.21    | 0.04%             | 2055-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| City of Ennis TX                                                                 | City of Ennis, Series 2025                                                                               | CUSIP: 293470AC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $318450.50    | 0.11%             | 2055-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                        | New Jersey Economic Development Authority, Series 2000 B                                                 | CUSIP: 64578CBW0<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    500000 | PA      | $502003.85    | 0.18%             | 2030-11-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                      | Washington State Housing Finance Commission, Series 2016                                                 | CUSIP: 939783TT3<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500066.75    | 0.17%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maxatawny Township Municipal Authority                                           | Maxatawny Township Municipal Authority, Series 2022 A                                                    | CUSIP: 57778PAD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1489901.25   | 0.52%             | 2042-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Trails at Crowfoot Metropolitan District No. 3                                   | Trails at Crowfoot Metropolitan District No. 3, Series 2024 B                                            | CUSIP: 89286RAV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $299660.37    | 0.10%             | 2052-12-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| City of Austin TX                                                                | City of Austin, Series 2024                                                                              | CUSIP: 052466BC2<br>LEI: IW10PQVTU7HKS3JMW253 | Long             | DBT              | MUN               | US        |    555000 | PA      | $548894.17    | 0.19%             | 2044-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                             | District of Columbia, Series 2023 A                                                                      | CUSIP: 25476FA40<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   6675000 | PA      | $7091842.40   | 2.47%             | 2045-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                                        | New York Transportation Development Corp., Series 2023                                                   | CUSIP: 650116GP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1062197.50   | 0.37%             | 2040-04-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| EA McKinnon Groves Community Development District                                | EA McKinnon Groves Community Development District, Series 2025                                           | CUSIP: 26832JAD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    370000 | PA      | $364380.37    | 0.13%             | 2056-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                | State of Illinois, Series 2023 B                                                                         | CUSIP: 452153FG9<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2270082.57   | 0.79%             | 2040-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Chester County Industrial Development Authority                                  | Chester County Industrial Development Authority, Series 2013 A                                           | CUSIP: 16559PAT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $942385.10    | 0.33%             | 2045-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp.                                                | Florida Development Finance Corp., Series 2021                                                           | CUSIP: 34061WAY0<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    700000 | PA      | $642874.75    | 0.22%             | 2051-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | Public Finance Authority, Series 2025                                                                    | CUSIP: 74448UAD0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    500000 | PA      | $517445.40    | 0.18%             | 2065-12-31      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| St. Paul Port Authority                                                          | St. Paul Port Authority, Series 2007-1                                                                   | CUSIP: 79304NFW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    905000 | PA      | $905775.77    | 0.32%             | 2036-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Clark NV                                                               | County of Clark, Series 2015                                                                             | CUSIP: 181003MW1<br>LEI: 549300LDD8NZB2EOVG83 | Long             | DBT              | MUN               | US        |    370000 | PA      | $370281.90    | 0.13%             | 2032-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Charlotte County Industrial Development Authority                                | Charlotte County Industrial Development Authority, Series 2021 A                                         | CUSIP: 16080TAF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $949555.90    | 0.33%             | 2041-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pinellas County Industrial Development Authority                                 | Pinellas County Industrial Development Authority, Series 2019                                            | CUSIP: 72316VAT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1690000 | PA      | $1710305.01   | 0.60%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                               | South Carolina Jobs-Economic Development Authority, Series 2021 A                                        | CUSIP: 83704MBV7<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1020000 | PA      | $688562.32    | 0.24%             | 2056-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York Counties Tobacco Trust VI                                               | New York Counties Tobacco Trust VI, Series 2016 A-2B                                                     | CUSIP: 64945JAE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2618854.50   | 0.91%             | 2045-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Del Webb Oak Creek Community Development District                                | Del Webb Oak Creek Community Development District, Series 2025                                           | CUSIP: 245509AF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $251067.05    | 0.09%             | 2055-05-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Harvest Hills South Community Development District                               | Harvest Hills South Community Development District, Series 2025                                          | CUSIP: 41757NAD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $123675.86    | 0.04%             | 2056-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Collegiate Charter School of Lowell                                              | Collegiate Charter School of Lowell, Series 2019                                                         | CUSIP: 547649AB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001491.50   | 0.35%             | 2039-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City & County of San Francisco CA Special Tax District No. 2020-1                | City & County of San Francisco, Series 2021 A                                                            | CUSIP: 79771HAD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $480263.85    | 0.17%             | 2041-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Okaloosa FL                                                            | County of Okaloosa, Series 2025                                                                          | CUSIP: 678226AC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    385000 | PA      | $391699.35    | 0.14%             | 2055-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| City of Anna TX                                                                  | City of Anna, Series 2025                                                                                | CUSIP: 035713BF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100053.08    | 0.03%             | 2055-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Ham Lake MN                                                              | City of Ham Lake, Series 2016 A                                                                          | CUSIP: 406511AC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $424319.70    | 0.15%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Las Vegas NV Special Improvement District No. 816                        | City of Las Vegas, Series 2021                                                                           | CUSIP: 51779AAN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    640000 | PA      | $514092.35    | 0.18%             | 2041-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Vivid Shores Community Development District                                      | Vivid Shores Community Development District, Series 2025                                                 | CUSIP: 92853QAD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $99996.75     | 0.03%             | 2056-05-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp.                                               | New York Liberty Development Corp., Series 2014, Class 2                                                 | CUSIP: 649519DC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $750043.80    | 0.26%             | 2040-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                              | Wisconsin Health & Educational Facilities Authority, Series 2022 A                                       | CUSIP: 97712D8S8<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3983490.40   | 1.39%             | 2041-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Celina TX                                                                | City of Celina, Series 2025                                                                              | CUSIP: 15114CKU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $149088.63    | 0.05%             | 2045-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Ranches at Lake Mcleod Community Development District                            | Ranches at Lake Mcleod Community Development District, Series 2025                                       | CUSIP: 752041AG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250563.65    | 0.09%             | 2055-06-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Suffolk Economic Development Authority                                           | Suffolk Economic Development Authority, Series 2016                                                      | CUSIP: 86482NAJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $501225.65    | 0.17%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                              | Wisconsin Health & Educational Facilities Authority, Series 2022                                         | CUSIP: 97712JCM3<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $995461.28    | 0.35%             | 2045-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Cleveland-Cuyahoga County Port Authority                                         | Cleveland-Cuyahoga County Port Authority, Series 2018                                                    | CUSIP: 18610PAW8<br>LEI: 549300KI3FXFLUKF3A98 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1500575.70   | 0.52%             | 2053-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | Public Finance Authority, Series 2025 A-T                                                                | CUSIP: 74441XJK6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    650000 | PA      | $658056.88    | 0.23%             | 2060-12-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority                                            | CSCDA Community Improvement Authority, Series 2021 A-2                                                   | CUSIP: 126292BB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1225000 | PA      | $832624.78    | 0.29%             | 2057-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                           | California Municipal Finance Authority, Series 2025-1, Class A-2                                         | CUSIP: 13050WAB7<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   2134447 | PA      | $1887905.47   | 0.66%             | 2041-02-20      | Variable      | 3.44%                 | No            |                  2 | On Loan: No      |
| Health & Educational Facilities Authority of the State of Missouri               | Health & Educational Facilities Authority of the State of Missouri, Series 2023 A                        | CUSIP: 60636AWA7<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |    900000 | PA      | $732142.62    | 0.26%             | 2038-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Washington OH                                                          | County of Washington, Series 2022                                                                        | CUSIP: 938154DX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $514134.10    | 0.18%             | 2052-12-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | Illinois Finance Authority, Series 2021 A                                                                | CUSIP: 45204FHT5<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    400000 | PA      | $396456.44    | 0.14%             | 2041-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cobb County Kennestone Hospital Authority                                        | Cobb County Kennestone Hospital Authority, Series 2020 A                                                 | CUSIP: 190813SB2<br>LEI: 549300TB04LETJYNFR44 | Long             | DBT              | MUN               | US        |   1785000 | PA      | $1402252.62   | 0.49%             | 2045-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | Public Finance Authority, Series 2017 A                                                                  | CUSIP: 74443UAZ6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    380000 | PA      | $385564.15    | 0.13%             | 2037-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Las Vegas NV Special Improvement District No. 817                        | City of Las Vegas, Series 2023                                                                           | CUSIP: 51779BAN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $368722.83    | 0.13%             | 2048-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Economic Development Finance Authority                                  | Kentucky Economic Development Finance Authority, Series 2016 A                                           | CUSIP: 49126PFG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $831137.00    | 0.29%             | 2046-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Gas Worx Community Development District                                          | Gas Worx Community Development District, Series 2025                                                     | CUSIP: 367200AC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $102668.25    | 0.04%             | 2045-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Grand Rapids Economic Development Corp.                                          | Grand Rapids Economic Development Corp., Series 2025 A                                                   | CUSIP: 386246HK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $625420.13    | 0.22%             | 2060-11-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Texas Transportation Commission State Highway 249 System                         | Texas Transportation Commission State Highway 249 System, Series 2019 A                                  | CUSIP: 88283NAJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $381895.01    | 0.13%             | 2039-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Orange County Health Facilities Authority                                        | Orange County Health Facilities Authority                                                                | CUSIP: 68450LGQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2570000 | PA      | $2219610.06   | 0.77%             | 2052-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                           | California Municipal Finance Authority, Series 2024, Class I                                             | CUSIP: 13048VQ27<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    800000 | PA      | $840499.84    | 0.29%             | 2039-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Village Metropolitan District (The)                                              | Village Metropolitan District (The), Series 2025 A                                                       | CUSIP: 92708CAD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $503559.00    | 0.18%             | 2055-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| City of Las Vegas NV Special Improvement District No. 814                        | City of Las Vegas, Series 2019                                                                           | CUSIP: 51778UAS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $522831.58    | 0.18%             | 2044-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority                                            | CSCDA Community Improvement Authority, Series 2021 A-2                                                   | CUSIP: 126292AR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $1725828.75   | 0.60%             | 2056-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Industrial Development Authority of the City of St Louis Missouri (The)          | Industrial Development Authority of the City of St. Louis Missouri (The), Series 2017 A                  | CUSIP: 85236BAC6<br>LEI: 549300WTUL8KX1FOUZ40 | Long             | DBT              | MUN               | US        |    875000 | PA      | $770767.11    | 0.27%             | 2047-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Sky Dance Metropolitan District No. 2                                            | Sky Dance Metropolitan District No. 2, Series 2024 A                                                     | CUSIP: 83086VAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $380577.56    | 0.13%             | 2054-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Angeline Community Development District                                          | Angeline Community Development District, Series 2025                                                     | CUSIP: 03473TAC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300987.18    | 0.11%             | 2056-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| County of Frederick MD                                                           | County of Frederick, Series 2019                                                                         | CUSIP: 355612AD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1410000 | PA      | $1342013.04   | 0.47%             | 2039-07-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Black Desert Public Infrastructure District                                      | Black Desert Public Infrastructure District, Series 2024                                                 | CUSIP: 09204TAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1308342.49   | 0.46%             | 2053-12-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Uptown Development Authority                                                     | Uptown Development Authority, Series 2021                                                                | CUSIP: 916856HQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $782584.56    | 0.27%             | 2037-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GIR East Community Development District                                          | GIR East Community Development District, Series 2025                                                     | CUSIP: 37611TAB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $299143.44    | 0.10%             | 2045-05-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Putnam Short Term Investment Fund                                                | Putnam Short Term Investment Fund, Class P                                                               | CUSIP: 74676P664<br>LEI: 549300S9JYWEMKQCLW53 | Long             |  | RF                | US        |    534059 | NS      | $534058.65    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Kentucky Public Energy Authority                                                 | Kentucky Public Energy Authority, Series 2025 B                                                          | CUSIP: 74440DFQ2<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2202492.39   | 0.77%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Municipal Loan Council                                                   | Florida Municipal Loan Council, Series 2024                                                              | CUSIP: 34281UAC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $831687.37    | 0.29%             | 2054-05-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Harbor Point Infrastructure Improvement District                                 | Harbor Point Infrastructure Improvement District, Series 2017                                            | CUSIP: 41154VAK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3549318.50   | 1.24%             | 2039-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Woodland Preserve Community Development District                                 | Woodland Preserve Community Development District, Series 2025                                            | CUSIP: 97966AAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $218511.19    | 0.08%             | 2055-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| St. Louis County Industrial Development Authority                                | St. Louis County Industrial Development Authority, Series 2018 A                                         | CUSIP: 791524CP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3180595.93   | 1.11%             | 2053-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                                | Philadelphia Authority for Industrial Development, Series 2017                                           | CUSIP: 71781XGR8<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |     40000 | PA      | $42201.30     | 0.01%             | 2045-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Utah Infrastructure Agency                                                       | Utah Infrastructure Agency, Series 2023                                                                  | CUSIP: 917467CP5<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1458517.46   | 0.51%             | 2047-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Stamford Housing Authority                                                       | Stamford Housing Authority, Series 2025 A                                                                | CUSIP: 852640AL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $150340.20    | 0.05%             | 2060-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Pontiac School District                                                          | Pontiac School District, Series 2020                                                                     | CUSIP: 732538HL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4025000 | PA      | $3678540.48   | 1.28%             | 2050-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                            | Pennsylvania Economic Development Financing Authority, Series 2009 C                                     | CUSIP: 708686ET3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $502543.80    | 0.18%             | 2037-12-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Lakewood Ranch Stewardship District                                              | Lakewood Ranch Stewardship District, Series 2024                                                         | CUSIP: 51265KFY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $597907.79    | 0.21%             | 2044-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CMFA Special Finance Agency I                                                    | CMFA Special Finance Agency I, Series 2021 A-2                                                           | CUSIP: 12574TAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $1884063.25   | 0.66%             | 2056-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Authority                                                          | Capital Trust Authority, Series 2025 A                                                                   | CUSIP: 14054WBX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    165000 | PA      | $158251.12    | 0.06%             | 2065-07-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                      | Commonwealth of Puerto Rico, Series 2022 A-1                                                             | CUSIP: 74514L3M7<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |   3000000 | PA      | $2951330.10   | 1.03%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| James City County Economic Development Authority                                 | James City County Economic Development Authority, Series 2021 A                                          | CUSIP: 47029WDR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $800880.00    | 0.28%             | 2047-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Sunnyvale CA                                                             | City of Sunnyvale, Series 2001                                                                           | CUSIP: 867587AC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    605000 | PA      | $607312.92    | 0.21%             | 2032-08-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| County of Denton TX                                                              | County of Denton, Series 2025                                                                            | CUSIP: 24880GAS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $257310.03    | 0.09%             | 2055-12-31      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Windsor Cay Community Development District                                       | Windsor Cay Community Development District, Series 2025                                                  | CUSIP: 97352AAG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $295409.01    | 0.10%             | 2055-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| East Nassau Stewardship District                                                 | East Nassau Stewardship District, Series 2025                                                            | CUSIP: 273794AQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $438979.36    | 0.15%             | 2056-05-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | Chicago Board of Education, Series 2025 B                                                                | CUSIP: 167505A30<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    500000 | PA      | $499989.30    | 0.17%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Aurora Crossroads Metropolitan District No. 2                                    | Aurora Crossroads Metropolitan District No. 2, Series 2025 A-1                                           | CUSIP: 05162QAE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $447555.20    | 0.16%             | 2055-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                             | Chicago O'Hare International Airport                                                                     | CUSIP: 167591AE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3651645.90   | 1.27%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | Public Finance Authority, Series 2018                                                                    | CUSIP: 74444VAG5<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    800000 | PA      | $760057.20    | 0.27%             | 2048-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lakeside at Satilla Community Development District                               | Lakeside at Satilla Community Development District, Series 2025                                          | CUSIP: 51210AAC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100501.52    | 0.04%             | 2055-05-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                      | Commonwealth of Puerto Rico, Series 2022 A-1                                                             | CUSIP: 74514L3N5<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |   3388447 | PA      | $3184987.02   | 1.11%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Hobe-St. Lucie Conservancy District                                              | Hobe-St. Lucie Conservancy District, Series 2024                                                         | CUSIP: 434043AC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $509382.95    | 0.18%             | 2055-05-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Lee County Industrial Development Authority/FL                                   | Lee County Industrial Development Authority, Series 2024 C                                               | CUSIP: 52349EEV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $489380.10    | 0.17%             | 2054-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | Public Finance Authority, Series 2020 A-1                                                                | CUSIP: 74442PPU3<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1452822.04   | 0.51%             | 2055-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Stamford Housing Authority                                                       | Stamford Housing Authority, Series 2025 A                                                                | CUSIP: 852640AK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $102173.54    | 0.04%             | 2055-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| City of Eagan MN                                                                 | City of Eagan, Series 2025 A                                                                             | CUSIP: 26940AAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $293590.23    | 0.10%             | 2065-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Terra Lago Community Development District                                        | Terra Lago Community Development District, Series 2025                                                   | CUSIP: 88104DAG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $396324.72    | 0.14%             | 2056-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Southlands Metropolitan District No. 1                                           | Southlands Metropolitan District No. 1, Series 2017 A-1                                                  | CUSIP: 84454RAW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $503705.75    | 0.18%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Health & Education Facilities Authority                                | Minnesota Health & Education Facilities Authority, Series 2016 A                                         | CUSIP: 60416H2R4<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $862816.88    | 0.30%             | 2046-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | Public Finance Authority, Series 2018                                                                    | CUSIP: 74444VAF7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001231.80   | 0.35%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Justin TX                                                                | City of Justin, Series 2025                                                                              | CUSIP: 482184AW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $501058.15    | 0.17%             | 2055-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency, Inc.                                                       | Capital Trust Agency, Inc., Series 2020 A-1                                                              | CUSIP: 14052WDJ3<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    740000 | PA      | $736160.95    | 0.26%             | 2035-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Texas Community Housing & Economic Development Corp.                             | Texas Community Housing & Economic Development Corp., Series 2025 A-1                                    | CUSIP: 88231CAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $536015.17    | 0.19%             | 2065-01-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Delaware State Economic Development Authority                                    | Delaware State Economic Development Authority, Series 2016 A                                             | CUSIP: 246387RX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1035000 | PA      | $919861.22    | 0.32%             | 2051-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lehigh County Industrial Development Authority                                   | Lehigh County Industrial Development Authority, Series 2021 A                                            | CUSIP: 52481MAC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $768930.50    | 0.27%             | 2051-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MIDA Mountain Village Public Infrastructure District                             | MIDA Mountain Village Public Infrastructure District, Series 2021                                        | CUSIP: 59561TAQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $977522.20    | 0.34%             | 2050-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Sierra Vista Industrial Development Authority                                    | Sierra Vista Industrial Development Authority, Series 2024                                               | CUSIP: 82652UAY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $257175.24    | 0.09%             | 2064-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DeKalb County Development Authority                                              | DeKalb County Development Authority, Series 2024 A                                                       | CUSIP: 240463KE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    515000 | PA      | $474764.90    | 0.17%             | 2063-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fox Branch Ranch Community Development District                                  | Fox Branch Ranch Community Development District, Series 2025                                             | CUSIP: 351322AD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $207353.62    | 0.07%             | 2055-05-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| MIDA Mountain Village Public Infrastructure District                             | MIDA Mountain Village Public Infrastructure District, Series 2024-2                                      | CUSIP: 59561UAD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $512389.20    | 0.18%             | 2054-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                          | South Carolina Public Service Authority, Series 2021 B                                                   | CUSIP: 837151YU7<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4014034.40   | 1.40%             | 2041-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                             | Colorado Health Facilities Authority, Series 2016                                                        | CUSIP: 19648FAZ7<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1250666.75   | 0.44%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Skagit County Public Hospital District No. 1                                     | Skagit County Public Hospital District No. 1, Series 2024                                                | CUSIP: 830227EP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020717.80   | 0.36%             | 2054-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Airport Comm-San Francisco International Airport     | San Francisco City & County Airport Comm-San Francisco International Airport, Series 2019 A              | CUSIP: 79766DWB1<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |     80000 | PA      | $81847.28     | 0.03%             | 2049-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | Public Finance Authority, Series 2021 A                                                                  | CUSIP: 74445QDW7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1528943.40   | 0.53%             | 2051-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| St. Johns County Industrial Development Authority                                | St. Johns County Industrial Development Authority, Series 2021 A                                         | CUSIP: 79041LAM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    355000 | PA      | $344827.40    | 0.12%             | 2036-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp.                                               | New York Liberty Development Corp., Series 2021 A                                                        | CUSIP: 649519DV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1860000 | PA      | $1389793.86   | 0.48%             | 2046-11-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                                        | New York Transportation Development Corp., Series 2025                                                   | CUSIP: 650116JP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4242475.20   | 1.48%             | 2055-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                          | South Carolina Public Service Authority, Series 2021 B                                                   | CUSIP: 837151YY9<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2676026.40   | 0.93%             | 2051-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                              | Wisconsin Health & Educational Facilities Authority, Series 2022                                         | CUSIP: 97712JCL5<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    270000 | PA      | $254588.72    | 0.09%             | 2041-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Miami FL                                                                 | City of Miami, Series 2024 A                                                                             | CUSIP: 59338CAM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5370850.50   | 1.87%             | 2049-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                             | District of Columbia, Series 2022 A                                                                      | CUSIP: 25483VA38<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1140000 | PA      | $1328388.88   | 0.46%             | 2035-08-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Metropolitan Nashville Airport Authority (The)                                   | Metropolitan Nashville Airport Authority (The), Series 2022 B                                            | CUSIP: 592190QU9<br>LEI: 549300IC0HNF8TDXEE63 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1112151.70   | 0.39%             | 2039-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp.                                                | Florida Development Finance Corp., Series 2021 A                                                         | CUSIP: 34061UHZ4<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    500000 | PA      | $411691.65    | 0.14%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL                                                               | City of Chicago, Series 2021 B                                                                           | CUSIP: 167486U49<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   2747000 | PA      | $2733917.41   | 0.95%             | 2038-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Las Vegas NV Special Improvement District No. 814                        | City of Las Vegas, Series 2019                                                                           | CUSIP: 51778UAR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    410000 | PA      | $395774.76    | 0.14%             | 2039-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Development Authority of Cobb County (The)                                       | Development Authority of Cobb County (The), Series C                                                     | CUSIP: 190778JU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    685000 | PA      | $685563.21    | 0.24%             | 2030-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL Lakeshore East Special Assessment Area                        | City of Chicago, Series 2022                                                                             | CUSIP: 167686AK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    241000 | PA      | $235831.56    | 0.08%             | 2028-12-01      | Fixed         | 3.04%                 | No            |                  2 | On Loan: No      |
| Waterset South Community Development District                                    | Waterset South Community Development District, Series 2025                                               | CUSIP: 94186HAL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200348.00    | 0.07%             | 2056-05-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Florida Higher Educational Facilities Financing Authority                        | Florida Higher Educational Facilities Financing Authority, Series 2019                                   | CUSIP: 34073TLN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1370000 | PA      | $1059411.27   | 0.37%             | 2044-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Celina TX                                                                | City of Celina, Series 2025                                                                              | CUSIP: 15114CKV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    270000 | PA      | $266352.68    | 0.09%             | 2055-09-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                             | District of Columbia, Series 2019                                                                        | CUSIP: 25483VVN1<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    400000 | PA      | $411345.00    | 0.14%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Pier & Exposition Authority                                         | Metropolitan Pier & Exposition Authority, Series 2022 A                                                  | CUSIP: 592250EY6<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   2100000 | PA      | $1779558.90   | 0.62%             | 2052-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Raindance Metropolitan District No. 1 Non-Potable Water System Revenue           | Raindance Metropolitan District No. 1, Series 2020                                                       | CUSIP: 75087GAB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $846314.00    | 0.30%             | 2050-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                         | Massachusetts Development Finance Agency, Series 2024 A                                                  | CUSIP: 57585BBU1<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $950560.30    | 0.33%             | 2060-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                            | Louisiana Public Facilities Authority, Series 2017 A                                                     | CUSIP: 546399NZ5<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |     20000 | PA      | $20572.01     | 0.01%             | 2050-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                               | South Carolina Jobs-Economic Development Authority, Series 2024                                          | CUSIP: 83704HAM9<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1017584.20   | 0.36%             | 2054-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                             | District of Columbia, Series 2020                                                                        | CUSIP: 25483VXU3<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2507283.75   | 0.87%             | 2040-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Gas Worx Community Development District                                          | Gas Worx Community Development District, Series 2025                                                     | CUSIP: 367200AD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $107208.43    | 0.04%             | 2057-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Alaska Industrial Development & Export Authority                                 | Alaska Industrial Development & Export Authority                                                         | CUSIP: 011903GK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5125000 | PA      | $4809125.75   | 1.68%             | 2044-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York Counties Tobacco Trust VI                                               | New York Counties Tobacco Trust VI, Series 2016 A-2B                                                     | CUSIP: 64945JAF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $588611.24    | 0.21%             | 2051-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                           | California Municipal Finance Authority, Series 2021                                                      | CUSIP: 13049YFR7<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   2410000 | PA      | $1750245.39   | 0.61%             | 2054-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | Public Finance Authority, Series 2021 A-1                                                                | CUSIP: 74439YDX6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    600000 | PA      | $421684.62    | 0.15%             | 2061-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pontiac School District                                                          | Pontiac School District, Series 2020                                                                     | CUSIP: 732538HK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3575000 | PA      | $3409166.83   | 1.19%             | 2045-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | Illinois Finance Authority, Series 2017 A                                                                | CUSIP: 45203KAN5<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1211184.12   | 0.42%             | 2037-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | Public Finance Authority, Series 2025                                                                    | CUSIP: 74448UAC2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2320088.82   | 0.81%             | 2065-12-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Hospital Facilities Authority of Multnomah County Oregon                         | Hospital Facilities Authority of Multnomah County Oregon, Series 2012                                    | CUSIP: 62551PCA3<br>LEI: 549300GAP0JIG7V33754 | Long             | DBT              | MUN               | US        |    210000 | PA      | $210125.58    | 0.07%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Palm Beach FL                                                          | County of Palm Beach, Series 2021 A                                                                      | CUSIP: 696547HN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $542309.94    | 0.19%             | 2057-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | Public Finance Authority, Series 2015 A                                                                  | CUSIP: 74442PAY1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    945000 | PA      | $945766.68    | 0.33%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority                                              | California School Finance Authority, Series 2021 A                                                       | CUSIP: 13058TPF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $372273.25    | 0.13%             | 2061-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Harris County Cultural Education Facilities Finance Corp.                        | Harris County Cultural Education Facilities Finance Corp., Series 2013 A                                 | CUSIP: 414009FA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $976242.60    | 0.34%             | 2033-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Government Nashville & Davidson County Health & Educational Facs Bd | Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, Series 2020 A | CUSIP: 592041YV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1386641.55   | 0.48%             | 2055-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Sugarloaf Community Development District                                         | Sugarloaf Community Development District, Series 2026                                                    | CUSIP: 865037AC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $178753.14    | 0.06%             | 2055-12-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Starling Community Development District                                          | Starling Community Development District, Series 2025                                                     | CUSIP: 85553UAD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $488963.60    | 0.17%             | 2056-05-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Industrial Development Authority of the County of Pima (The)                     | Industrial Development Authority of the County of Pima (The), Series 2022 A                              | CUSIP: 72178AAH5<br>LEI: 549300QDTQ25545R4K19 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1603899.00   | 0.56%             | 2052-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Plaza Metropolitan District No. 1                                                | Plaza Metropolitan District No. 1, Series 2013                                                           | CUSIP: 72818QAX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1650781.28   | 0.58%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | Public Finance Authority, Series 2022 B                                                                  | CUSIP: 74447DAG2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1026574.10   | 0.36%             | 2062-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Feed Mill Community Development District                                         | Feed Mill Community Development District, Series 2025                                                    | CUSIP: 31434PAD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $276350.17    | 0.10%             | 2056-05-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                          | Puerto Rico Sales Tax Financing Corp., Series A-1                                                        | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   4700000 | PA      | $4540639.92   | 1.58%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL                                                               | City of Chicago, Series 2019 A                                                                           | CUSIP: 167486E39<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    305000 | PA      | $306038.92    | 0.11%             | 2049-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Vermont Educational & Health Buildings Financing Agency                          | Vermont Educational & Health Buildings Financing Agency, Series 2016 A                                   | CUSIP: 924166JX0<br>LEI: 549300ZC1ZW1EUIIV708 | Long             | DBT              | MUN               | US        |    750000 | PA      | $581563.65    | 0.20%             | 2046-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Beaumont Housing Authority                                                       | Beaumont Housing Authority, Series 2025 A                                                                | CUSIP: 07451AAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $569146.67    | 0.20%             | 2055-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                      | Commonwealth of Puerto Rico, Series 2022 A-1                                                             | CUSIP: 74514L3K1<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |   1920000 | PA      | $1941805.63   | 0.68%             | 2033-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Denton TX                                                              | County of Denton, Series 2025                                                                            | CUSIP: 24880GAR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $128850.39    | 0.04%             | 2045-12-31      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| La Paz County Industrial Development Authority                                   | La Paz County Industrial Development Authority, Series 2018 A                                            | CUSIP: 50376FAS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2330000 | PA      | $2238181.92   | 0.78%             | 2048-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Frederick MD                                                           | County of Frederick, Series 2017 A                                                                       | CUSIP: 355697CF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $486705.85    | 0.17%             | 2037-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Westminster MD                                                           | City of Westminster, Series 2014 A                                                                       | CUSIP: 960735AQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $230237.29    | 0.08%             | 2034-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Tulsa Municipal Airport Trust Trustees/OK                                        | Tulsa Municipal Airport Trust Trustees, Series 2025                                                      | CUSIP: 899661EN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $534182.72    | 0.19%             | 2040-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Texas Municipal Gas Acquisition & Supply Corp. III                               | Texas Municipal Gas Acquisition & Supply Corp. III, Series 2021                                          | CUSIP: 88256HBF4<br>LEI: 0UDITKOYW0YKG3BBP242 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1080728.80   | 0.38%             | 2030-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Curiosity Creek Community Development District                                   | Curiosity Creek Community Development District, Series 2025                                              | CUSIP: 23128SAG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $159777.06    | 0.06%             | 2056-05-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| West Villages Improvement District                                               | West Villages Improvement District, Series 2025                                                          | CUSIP: 956454CZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $392750.36    | 0.14%             | 2055-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Port of Greater Cincinnati Development Authority                                 | Port of Greater Cincinnati Development Authority, Series 2021                                            | CUSIP: 734195BR0<br>LEI: 549300IK2RCZBY62ST97 | Long             | DBT              | MUN               | US        |   1320000 | PA      | $1264618.34   | 0.44%             | 2050-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| City of Dayton TX                                                                | City of Dayton, Series 2025                                                                              | CUSIP: 240094AM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $343966.63    | 0.12%             | 2055-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development Bank                            | California Infrastructure & Economic Development Bank, Series 2025 B                                     | CUSIP: 13034A7E4<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |    250000 | PA      | $187500.00    | 0.07%             | 2065-01-01      | Variable      | 12.00%                | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development Bank                            | California Infrastructure & Economic Development Bank, Series 2021 B                                     | CUSIP: 13034AR28<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |   4145000 | PA      | $349072.00    | 0.12%             | 2061-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Tranquility Community Development District                                       | Tranquility Community Development District, Series 2025                                                  | CUSIP: 89300NAD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $296097.24    | 0.10%             | 2055-05-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Tempe Industrial Development Authority                                           | Tempe Industrial Development Authority, Series 2025 A                                                    | CUSIP: 87972MBZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $765406.28    | 0.27%             | 2055-12-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                            | Louisiana Public Facilities Authority, Series 2025                                                       | CUSIP: 546399UY0<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    140000 | PA      | $140497.85    | 0.05%             | 2059-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Canyons Metropolitan District No. 5                                              | Canyons Metropolitan District No. 5, Series 2024 B                                                       | CUSIP: 139071AZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $298294.68    | 0.10%             | 2054-12-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                          | South Carolina Public Service Authority, Series 2021 B                                                   | CUSIP: 837151YV5<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   5250000 | PA      | $5205951.45   | 1.82%             | 2042-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Florida Higher Educational Facilities Financing Authority                        | Florida Higher Educational Facilities Financing Authority, Series 2024                                   | CUSIP: 34073TPN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $890321.20    | 0.31%             | 2054-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-02

**Name of Applicant:** Putnam Managed Municipal Income Trust

**Signature:** Chris Beararducci

**Name of Signer:** Chris Beararducci

**Title:** Principal Financial Officer