# EDGAR Filing Document

**Accession Number:** 0001454741
**File Stem:** 0001410368-26-020609
**Filing Date:** 2026-2
**Character Count:** 119842
**Document Hash:** be9c549e4196d448acaf724368761005
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-020609.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0001410368-26-020609

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Eaton Vance National Municipal Opportunities Trust
- **CENTRAL INDEX KEY:** 0001454741

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22269
- **FILM NUMBER:** 26696886

**BUSINESS ADDRESS:**
- **STREET 1:** ONE POST OFFICE SQUARE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02109
- **BUSINESS PHONE:** 617-482-8260

**MAIL ADDRESS:**
- **STREET 1:** ONE POST OFFICE SQUARE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02109

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Eaton Vance National Municipal Trust
- **DATE OF NAME CHANGE:** 20090126

## Nport-Ex

Eaton Vance<br>

National Municipal Opportunities Trust

December 31, 2025

Portfolio of Investments (Unaudited)

------

Corporate Bonds — 0.9%

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Other Revenue — 0.9% | Other Revenue — 0.9% | Other Revenue — 0.9% |
| Morongo Band of Mission Indians, 7.00%, 10/1/39<sup>(1)</sup> | $2430 | &nbsp;&nbsp;$2628567 |
| Total Corporate Bonds<br> (identified cost $2,430,000) |  | &nbsp;&nbsp;**$2628567** |

---

Tax-Exempt Municipal Obligations — 107.7%

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Bond Bank — 0.5% | Bond Bank — 0.5% | Bond Bank — 0.5% |
| Texas Water Development Board, 4.80%, 10/15/52 | $1500 | &nbsp;&nbsp;$1515769 |
|  |  | &nbsp;&nbsp;**$1515769** |
| Education — 5.8% | Education — 5.8% | Education — 5.8% |
| Arizona Industrial Development Authority, (Pinecrest Academy of Nevada), 4.00%, 7/15/50<sup>(1)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;$149563 |
| Boyle County, KY, (Centre College): |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, 6/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;880 | &nbsp;&nbsp;&nbsp;&nbsp; 806509 |
| &nbsp;&nbsp;&nbsp;5.25%, 6/1/43 | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 2074678 |
| California Municipal Finance Authority, (Westside Neighborhood School), 6.20%, 6/15/54<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;880 | &nbsp;&nbsp;&nbsp;&nbsp; 922624 |
| Capital Trust Agency, FL, (Florida Charter Educational Foundation, Inc.): |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, 6/15/38<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp; 209822 |
| &nbsp;&nbsp;&nbsp;5.375%, 6/15/48<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp;&nbsp;&nbsp; 364117 |
| District of Columbia, (KIPP DC), 4.00%, 7/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;410 | &nbsp;&nbsp;&nbsp;&nbsp; 371205 |
| Idaho Housing and Finance Association, (Alturas Preparatory Academy), 4.125%, 5/1/44 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 933777 |
| Illinois Finance Authority, (DePaul College Prep Foundation), 5.625%, 8/1/53<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp; 766775 |
| Jacksonville, FL, (Jacksonville University), 5.00%, 6/1/53<sup>(1)</sup> | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 857785 |
| Pennsylvania University, 5.25%, 9/1/50<sup>(2)</sup> | 3000 | &nbsp;&nbsp;&nbsp;&nbsp; 3226830 |
| Public Finance Authority, WI, (Cornerstone Charter Academy): |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 2/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp; 861164 |
| &nbsp;&nbsp;&nbsp;5.00%, 2/1/64 | 1835 | &nbsp;&nbsp;&nbsp;&nbsp; 1717748 |
| Public Finance Authority, WI, (North Carolina Leadership Academy), 5.00%, 6/15/54<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp;&nbsp;&nbsp; 407973 |
| Public Finance Authority, WI, (Roseman University of Health Sciences): |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, 4/1/52<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;245 | &nbsp;&nbsp;&nbsp;&nbsp; 193704 |
| &nbsp;&nbsp;&nbsp;5.00%, 4/1/40<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;620 | &nbsp;&nbsp;&nbsp;&nbsp; 623265 |
| &nbsp;&nbsp;&nbsp;5.00%, 4/1/50<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;830 | &nbsp;&nbsp;&nbsp;&nbsp; 769344 |

---

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Education (continued) | Education (continued) | Education (continued) |
| South Carolina Jobs-Economic Development Authority, (Carolina Voyager), 5.00%, 6/15/44<sup>(1)</sup> | $1000 | &nbsp;&nbsp;$1001282 |
|  |  | &nbsp;&nbsp;**$16258165** |
| Electric Utilities — 2.1% | Electric Utilities — 2.1% | Electric Utilities — 2.1% |
| Burke County Development Authority, GA, (Oglethorpe Power Corp.), 4.125%, 11/1/45 | $4250 | &nbsp;&nbsp;$4000973 |
| Omaha Public Power District, NE, 5.00%, 2/1/47 | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 2070390 |
|  |  | &nbsp;&nbsp;**$6071363** |
| Escrowed/Prerefunded — 0.0%<sup>†</sup> | Escrowed/Prerefunded — 0.0%<sup>†</sup> | Escrowed/Prerefunded — 0.0%<sup>†</sup> |
| Public Finance Authority, WI, (Roseman University of Health Sciences): |  |  |
| &nbsp;&nbsp;&nbsp;Prerefunded to 4/1/30, 5.00%, 4/1/50<sup>(1)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;$10915 |
| &nbsp;&nbsp;&nbsp;Prerefunded to 4/1/32, 4.00%, 4/1/52<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp; 5348 |
|  |  | &nbsp;&nbsp;**$16263** |
| General Obligations — 12.6% | General Obligations — 12.6% | General Obligations — 12.6% |
| Alvin Independent School District, TX, (PSF Guaranteed): |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, 2/15/50<sup>(2)</sup> | $2750 | &nbsp;&nbsp;$2937660 |
| &nbsp;&nbsp;&nbsp;5.25%, 2/15/53<sup>(2)</sup> | 2750 | &nbsp;&nbsp;&nbsp;&nbsp; 2928832 |
| Chicago Board of Education, IL: |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 12/1/42 | 6410 | &nbsp;&nbsp;&nbsp;&nbsp; 6205411 |
| &nbsp;&nbsp;&nbsp;6.00%, 12/1/49 | 1750 | &nbsp;&nbsp;&nbsp;&nbsp; 1771717 |
| Chicago, IL, 6.00%, 1/1/45 | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 2104080 |
| Jackson County School District No. 6, OR, 0.00%, 6/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;710 | &nbsp;&nbsp;&nbsp;&nbsp; 360638 |
| Massachusetts, 5.00%, 4/1/55<sup>(2)</sup> | 2500 | &nbsp;&nbsp;&nbsp;&nbsp; 2599900 |
| Mesquite Independent School District, TX, (PSF Guaranteed): |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 8/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp;&nbsp; 178557 |
| &nbsp;&nbsp;&nbsp;5.00%, 8/15/49<sup>(2)</sup> | 4000 | &nbsp;&nbsp;&nbsp;&nbsp; 4201320 |
| Northside Independent School District, TX, (PSF Guaranteed), 5.25%, 2/15/55<sup>(2)</sup> | 4500 | &nbsp;&nbsp;&nbsp;&nbsp; 4771755 |
| Puerto Rico: |  |  |
| &nbsp;&nbsp;&nbsp;0.00%, 7/1/33 | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 1449631 |
| &nbsp;&nbsp;&nbsp;4.00%, 7/1/35 | 2127 | &nbsp;&nbsp;&nbsp;&nbsp; 2091971 |
| Spring Independent School District, TX, (PSF Guaranteed), 5.25%, 8/15/55<sup>(2)</sup> | 3600 | &nbsp;&nbsp;&nbsp;&nbsp; 3838608 |
| Township of Freehold, NJ, 1.00%, 10/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp;&nbsp; 132992 |
|  |  | &nbsp;&nbsp;**$35573072** |

---

------

Eaton Vance<br>

National Municipal Opportunities Trust

December 31, 2025

Portfolio of Investments (Unaudited) — continued

------

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Hospital — 5.0% | Hospital — 5.0% | Hospital — 5.0% |
| Allegheny County Hospital Development Authority, PA, (Allegheny Health Network Obligated Group), 5.00%, 4/1/47 | $2330 | &nbsp;&nbsp;$2330151 |
| Astoria Hospital Facilities Authority, OR, (Columbia Memorial Hospital), 5.25%, 8/1/49 | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 2015192 |
| Geisinger Authority, PA, (Geisinger Health System), 4.00%, 2/15/47 | 1105 | &nbsp;&nbsp;&nbsp;&nbsp; 983958 |
| Idaho Health Facilities Authority, ID, (St. Luke's Health System), 4.375%, 3/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;935 | &nbsp;&nbsp;&nbsp;&nbsp; 889058 |
| Illinois Finance Authority, (Ascension), 4.00%, 2/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;505 | &nbsp;&nbsp;&nbsp;&nbsp; 506309 |
| Michigan Finance Authority, (McLaren Health Care), 4.00%, 2/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;995 | &nbsp;&nbsp;&nbsp;&nbsp; 893156 |
| Montgomery County Higher Education and Health Authority, PA, (Thomas Jefferson University Obligated Group), 5.00%, 5/1/57 | 2725 | &nbsp;&nbsp;&nbsp;&nbsp; 2713338 |
| Muskingum County, OH, (Genesis HealthCare System Obligated Group), 5.00%, 2/15/44 | 1330 | &nbsp;&nbsp;&nbsp;&nbsp; 1325836 |
| Pennsylvania Economic Development Financing Authority, (UPMC), 4.00%, 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 444357 |
| West Virginia Hospital Finance Authority, (West Virginia University Health System Obligated Group), 4.375%, 6/1/53 | 2010 | &nbsp;&nbsp;&nbsp;&nbsp; 1864067 |
| Westchester County Local Development Corp., NY, (Westchester Medical Center Obligated Group), 6.25%, 11/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp; 226405 |
|  |  | &nbsp;&nbsp;**$14191827** |
| Housing — 7.0% | Housing — 7.0% | Housing — 7.0% |
| Dallas Housing Finance Corp., TX, (Hiline Illinois), (FNMA), 5.00%, 3/1/44 | $2850 | &nbsp;&nbsp;$2986759 |
| Indiana Housing and Community Development Authority, SFMR, Social Bonds, (FHLMC), (FNMA), (GNMA), 4.70%, 7/1/53 | 1465 | &nbsp;&nbsp;&nbsp;&nbsp; 1466079 |
| Michigan Housing Development Authority, Social Bonds, 5.00%, 12/1/55 | 1115 | &nbsp;&nbsp;&nbsp;&nbsp; 1119580 |
| New Hampshire Business Finance Authority, Social Certificates, 4.75% to 6/1/35 (Put Date), 6/20/41 | 2497 | &nbsp;&nbsp;&nbsp;&nbsp; 2573968 |
| Pennsylvania Housing Finance Agency, SFMR, Social Bonds, 5.45%, 4/1/51 | 3500 | &nbsp;&nbsp;&nbsp;&nbsp; 3648321 |
| Public Finance Authority, WI, (KSU Bixby Real Estate Foundation LLC), 5.50%, 6/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp; 701979 |
| Rhode Island Housing and Mortgage Finance Corp., Social Bonds, (GNMA), 4.65%, 10/1/53 | 1675 | &nbsp;&nbsp;&nbsp;&nbsp; 1657689 |
| Texas Department of Housing and Community Affairs, (GNMA), 5.125%, 1/1/54 | 1555 | &nbsp;&nbsp;&nbsp;&nbsp; 1609189 |

---

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Housing (continued) | Housing (continued) | Housing (continued) |
| Washington Housing Finance Commission, Social Certificates, 3.375%, 4/20/37 | $3332 | &nbsp;&nbsp;$3155364 |
| Washington State Housing Finance Commission, (Radford Court and Nordheim Court), 5.00%, 7/1/54 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 948175 |
|  |  | &nbsp;&nbsp;**$19867103** |
| Industrial Development Revenue — 5.5% | Industrial Development Revenue — 5.5% | Industrial Development Revenue — 5.5% |
| Arkansas Development Finance Authority, (United States Steel Corp.), Green Bonds, (AMT), 5.70%, 5/1/53 | $2540 | &nbsp;&nbsp;$2577018 |
| Hawaii Department of Budget and Finance, (Hawaiian Electric Co., Inc.), 3.20%, 7/1/39 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 896783 |
| Henderson, KY, (Pratt Paper, LLC), (AMT), 4.70%, 1/1/52<sup>(1)</sup> | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 1870063 |
| National Finance Authority, NH, (Covanta): |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, 11/1/42<sup>(1)</sup> | 1415 | &nbsp;&nbsp;&nbsp;&nbsp; 1227546 |
| &nbsp;&nbsp;&nbsp;(AMT), 4.875%, 11/1/42<sup>(1)</sup> | 1555 | &nbsp;&nbsp;&nbsp;&nbsp; 1390195 |
| New Hampshire Business Finance Authority, (Casella Waste Systems, Inc.), 2.95%, 4/1/29<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp;&nbsp;&nbsp; 539459 |
| New York Liberty Development Corp., (Goldman Sachs Group, Inc.), 5.25%, 10/1/35 | 2560 | &nbsp;&nbsp;&nbsp;&nbsp; 2995573 |
| New York Transportation Development Corp., (Delta Air Lines, Inc. - LaGuardia Airport Terminals C&D Redevelopment), (AMT), 5.00%, 10/1/40 | 2760 | &nbsp;&nbsp;&nbsp;&nbsp; 2799356 |
| Valparaiso, IN, (Pratt Paper IN LLC), (AMT), 5.00%, 1/1/54<sup>(1)</sup> | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 974012 |
| Vermont Economic Development Authority, (Casella Waste Systems, Inc.), (AMT), 4.625% to 4/3/28 (Put Date), 4/1/36<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp;&nbsp; 146391 |
|  |  | &nbsp;&nbsp;**$15416396** |
| Insured - Education — 0.7% | Insured - Education — 0.7% | Insured - Education — 0.7% |
| Eastern Michigan University, (BAM), 5.25%, 3/1/55 | $1975 | &nbsp;&nbsp;$2057154 |
|  |  | &nbsp;&nbsp;**$2057154** |
| Insured - Electric Utilities — 1.0% | Insured - Electric Utilities — 1.0% | Insured - Electric Utilities — 1.0% |
| Georgia Municipal Electric Authority, (Plant Vogtle Units 3 & 4 Project J), (AG), 5.00%, 7/1/64 | $1875 | &nbsp;&nbsp;$1896304 |
| Los Angeles Department of Water and Power, CA, (BAM), 5.00%, 7/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;935 | &nbsp;&nbsp;&nbsp;&nbsp; 966700 |
|  |  | &nbsp;&nbsp;**$2863004** |
| Insured - Hospital — 1.9% | Insured - Hospital — 1.9% | Insured - Hospital — 1.9% |
| Columbia County Hospital Authority, GA, (Wellstar Health System, Inc.), (AG), 5.00%, 4/1/53 | $1500 | &nbsp;&nbsp;$1537522 |
| Pennsylvania Higher Educational Facilities Authority, (Thomas Jefferson University), (AG), 4.25%, 11/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;980 | &nbsp;&nbsp;&nbsp;&nbsp; 904088 |

---

------

Eaton Vance<br>

National Municipal Opportunities Trust

December 31, 2025

Portfolio of Investments (Unaudited) — continued

------

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Insured - Hospital (continued) | Insured - Hospital (continued) | Insured - Hospital (continued) |
| West Virginia Hospital Finance Authority, (Vandalia Health), (AG), 5.50%, 9/1/48 | $2000 | &nbsp;&nbsp;$2140600 |
| Westchester County Local Development Corp., NY, (Westchester Medical Center Obligated Group), (AG), 5.00%, 11/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp; 815704 |
|  |  | &nbsp;&nbsp;**$5397914** |
| Insured - Housing — 0.4% | Insured - Housing — 0.4% | Insured - Housing — 0.4% |
| Knox County Health, Educational and Housing Facility Board, TN, (University of Tennessee), (BAM), 5.25%, 7/1/64 | $1000 | &nbsp;&nbsp;$1025091 |
|  |  | &nbsp;&nbsp;**$1025091** |
| Insured - Lease Revenue/Certificates of Participation — 0.5% | Insured - Lease Revenue/Certificates of Participation — 0.5% | Insured - Lease Revenue/Certificates of Participation — 0.5% |
| Hinds County, MS, Lease Purchase, (BAM), 4.625%, 9/1/54<sup>(1)</sup> | $1665 | &nbsp;&nbsp;$1540143 |
|  |  | &nbsp;&nbsp;**$1540143** |
| Insured - Other Revenue — 0.1% | Insured - Other Revenue — 0.1% | Insured - Other Revenue — 0.1% |
| New York City Industrial Development Agency, NY, (Queens Baseball Stadium), (AG), 3.00%, 1/1/46 | $&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;$213897 |
|  |  | &nbsp;&nbsp;**$213897** |
| Insured - Special Tax Revenue — 4.6% | Insured - Special Tax Revenue — 4.6% | Insured - Special Tax Revenue — 4.6% |
| Miami-Dade County, FL, Professional Sports Franchise Facilities: |  |  |
| &nbsp;&nbsp;&nbsp;(AG), 6.875%, 10/1/34 | $4000 | &nbsp;&nbsp;$4567182 |
| &nbsp;&nbsp;&nbsp;(AG), 7.00%, 10/1/39 | 6000 | &nbsp;&nbsp;&nbsp;&nbsp; 6798516 |
| Tolomato Community Development District, FL: |  |  |
| &nbsp;&nbsp;&nbsp;(AG), 3.75%, 5/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;720 | &nbsp;&nbsp;&nbsp;&nbsp; 723410 |
| &nbsp;&nbsp;&nbsp;(AG), 3.75%, 5/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;855 | &nbsp;&nbsp;&nbsp;&nbsp; 855532 |
|  |  | &nbsp;&nbsp;**$12944640** |
| Insured - Transportation — 8.0% | Insured - Transportation — 8.0% | Insured - Transportation — 8.0% |
| Metropolitan Transportation Authority, NY: |  |  |
| &nbsp;&nbsp;&nbsp;Green Bonds, (AG), 4.00%, 11/15/48 | $6225 | &nbsp;&nbsp;$5599802 |
| &nbsp;&nbsp;&nbsp;Green Bonds, (BAM), 4.00%, 11/15/48 | 1500 | &nbsp;&nbsp;&nbsp;&nbsp; 1361954 |
| New York Transportation Development Corp., (John F. Kennedy International Airport Terminal 6 Redevelopment), Green Bonds, (AG), (AMT), 5.25%, 12/31/54 | 2615 | &nbsp;&nbsp;&nbsp;&nbsp; 2653053 |
| North Carolina Turnpike Authority, (Triangle Expressway System): |  |  |
| &nbsp;&nbsp;&nbsp;(AG), 0.00%, 1/1/35 | 4000 | &nbsp;&nbsp;&nbsp;&nbsp; 2926142 |
| &nbsp;&nbsp;&nbsp;(AG), 0.00%, 1/1/36 | 13000 | &nbsp;&nbsp;&nbsp;&nbsp; 9073483 |

---

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Insured - Transportation (continued) | Insured - Transportation (continued) | Insured - Transportation (continued) |
| Pennsylvania Economic Development Financing Authority, (PennDOT Major Bridges Package One), (AG), (AMT), 5.00%, 12/31/57 | $&nbsp;&nbsp;&nbsp;&nbsp;865 | &nbsp;&nbsp;$854539 |
|  |  | &nbsp;&nbsp;**$22468973** |
| Lease Revenue/Certificates of Participation — 7.8% | Lease Revenue/Certificates of Participation — 7.8% | Lease Revenue/Certificates of Participation — 7.8% |
| Baltimore, MD, (Harbor Point), 4.875%, 6/1/42 | $&nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp;$325108 |
| National Finance Authority, NH, (Centurion BioSquare, Inc.), 5.88%, 12/15/38 | 2610 | &nbsp;&nbsp;&nbsp;&nbsp; 2701145 |
| New Jersey Economic Development Authority, (Portal North Bridge), 5.00%, 11/1/52 | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 2042801 |
| New Jersey Economic Development Authority, (School Facilities Construction): |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 6/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp;&nbsp;&nbsp; 328464 |
| &nbsp;&nbsp;&nbsp;5.00%, 6/15/44 | 4205 | &nbsp;&nbsp;&nbsp;&nbsp; 4333093 |
| New Jersey Transportation Trust Fund Authority, (Transportation System), 0.00%, 12/15/38 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 12234644 |
|  |  | &nbsp;&nbsp;**$21965255** |
| Other Revenue — 2.3% | Other Revenue — 2.3% | Other Revenue — 2.3% |
| Buckeye Tobacco Settlement Financing Authority, OH, 5.00%, 6/1/55 | $3195 | &nbsp;&nbsp;$2590298 |
| Kalispel Tribe of Indians, WA, Series A, 5.25%, 1/1/38<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp;&nbsp;&nbsp; 397603 |
| Military Installation Development Authority, UT, 4.00%, 6/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 468365 |
| Morongo Band of Mission Indians, CA, 5.00%, 10/1/42<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;605 | &nbsp;&nbsp;&nbsp;&nbsp; 613146 |
| Patriots Energy Group Financing Agency, SC, Gas Supply Revenue, 5.25% to 8/1/31 (Put Date), 10/1/54 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1069037 |
| Salt Verde Financial Corp., AZ, Senior Gas Revenue, 5.00%, 12/1/37 | 1245 | &nbsp;&nbsp;&nbsp;&nbsp; 1351892 |
|  |  | &nbsp;&nbsp;**$6490341** |
| Senior Living/Life Care — 14.7% | Senior Living/Life Care — 14.7% | Senior Living/Life Care — 14.7% |
| Atlantic Beach, FL, (Fleet Landing), 5.00%, 11/15/37 | $3405 | &nbsp;&nbsp;$3406860 |
| Bexar County Health Facilities Development Corp., TX, (Army Retirement Residence Foundation), 5.00%, 7/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;665 | &nbsp;&nbsp;&nbsp;&nbsp; 645481 |
| Clackamas County Hospital Facility Authority, OR, (Rose Villa), 5.25%, 11/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp; 120761 |
| Colorado Health Facilities Authority, (Aberdeen Ridge), 5.00%, 5/15/58 | 1110 | &nbsp;&nbsp;&nbsp;&nbsp; 794850 |
| Colorado Health Facilities Authority, (Covenant Living Communities and Services), 5.125%, 12/1/55 | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 1975230 |
| Indiana Finance Authority, (Marquette), 5.25%, 3/1/50 | 4000 | &nbsp;&nbsp;&nbsp;&nbsp; 4011616 |
| Iowa Finance Authority, (Lifespace Communities, Inc.), 4.125%, 5/15/38 | 1500 | &nbsp;&nbsp;&nbsp;&nbsp; 1429712 |

---

------

Eaton Vance<br>

National Municipal Opportunities Trust

December 31, 2025

Portfolio of Investments (Unaudited) — continued

------

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Senior Living/Life Care (continued) | Senior Living/Life Care (continued) | Senior Living/Life Care (continued) |
| Lee County Industrial Development Authority, FL, (Shell Point Obligated Group), 5.25%, 11/15/54 | $&nbsp;&nbsp;&nbsp;&nbsp;960 | &nbsp;&nbsp;$967343 |
| Massachusetts Development Finance Agency, (Linden Ponds, Inc.): |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 11/15/33<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp;&nbsp;&nbsp; 484566 |
| &nbsp;&nbsp;&nbsp;5.00%, 11/15/38<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp;&nbsp;&nbsp; 319548 |
| Massachusetts Development Finance Agency, (NewBridge on the Charles, Inc.), 5.00%, 10/1/57<sup>(1)</sup> | 1650 | &nbsp;&nbsp;&nbsp;&nbsp; 1587238 |
| Montgomery County Industrial Development Authority, PA, (ACTS Retirement Communities, Inc.), 5.25%, 11/15/53 | 1500 | &nbsp;&nbsp;&nbsp;&nbsp; 1513002 |
| Multnomah County Hospital Facilities Authority, OR, (Terwilliger Plaza), 4.00%, 12/1/51 | 1475 | &nbsp;&nbsp;&nbsp;&nbsp; 1136767 |
| National Finance Authority, NH, (The Vista): |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, 7/1/46<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp; 360522 |
| &nbsp;&nbsp;&nbsp;5.75%, 7/1/54<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;780 | &nbsp;&nbsp;&nbsp;&nbsp; 777640 |
| New Mexico Hospital Equipment Loan Council, (Haverland Carter Lifestyle Group): |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp;&nbsp;&nbsp; 45248 |
| &nbsp;&nbsp;&nbsp;5.00%, 7/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp;&nbsp;&nbsp; 55150 |
| &nbsp;&nbsp;&nbsp;5.00%, 7/1/49 | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 1786535 |
| New York Dormitory Authority, (Orchard Park CCRC, Inc.), 5.125%, 11/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;640 | &nbsp;&nbsp;&nbsp;&nbsp; 640422 |
| Norfolk Redevelopment and Housing Authority, VA, (Fort Norfolk Retirement Community, Inc. - Harbor's Edge), 5.00%, 1/1/49 | 3000 | &nbsp;&nbsp;&nbsp;&nbsp; 2740572 |
| North Carolina Medical Care Commission, (Twin Lakes Community), 5.25%, 1/1/55 | 1955 | &nbsp;&nbsp;&nbsp;&nbsp; 1956843 |
| North Carolina Medical Care Commission, (United Methodist Retirement Homes), 5.125%, 10/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 499979 |
| Palm Beach County Health Facilities Authority, FL, (Green Cay Life Plan Village): |  |  |
| &nbsp;&nbsp;&nbsp;11.50%, 7/1/27<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;765 | &nbsp;&nbsp;&nbsp;&nbsp; 1110146 |
| &nbsp;&nbsp;&nbsp;11.50%, 7/1/27<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp; 100078 |
| Public Finance Authority, WI, (Mary's Woods at Marylhurst), 5.25%, 5/15/37<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;630 | &nbsp;&nbsp;&nbsp;&nbsp; 635720 |
| South Carolina Jobs-Economic Development Authority, (Rolling Green Village), 5.75%, 12/1/60 | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 495002 |
| South Carolina Jobs-Economic Development Authority, (Seafields Kiawah Island Project), 7.75%, 11/15/58 | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 2138236 |
| Stamford Housing Authority, CT, (Mozaic Concierge Living), 6.00%, 10/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 526171 |
| Tarrant County Cultural Education Facilities Finance Corp., TX, (MRC Stevenson Oaks), 6.625%, 11/15/41 | 1325 | &nbsp;&nbsp;&nbsp;&nbsp; 1313727 |
| Tempe Industrial Development Authority, AZ, (Mirabella at ASU), 6.00%, 10/1/37<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp; 680498 |
| Tulsa County Industrial Authority, OK, (Montereau, Inc.), 5.25%, 11/15/37 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1013850 |

---

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Senior Living/Life Care (continued) | Senior Living/Life Care (continued) | Senior Living/Life Care (continued) |
| Washington Housing Finance Commission, (Bayview Manor Homes), 5.00%, 7/1/51<sup>(1)</sup> | $1335 | &nbsp;&nbsp;$1210837 |
| Washington Housing Finance Commission, (Horizon House), 6.25%, 1/1/61 | 3860 | &nbsp;&nbsp;&nbsp;&nbsp; 3829168 |
| Washington Housing Finance Commission, (Transforming Age), 5.00%, 1/1/49<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;305 | &nbsp;&nbsp;&nbsp;&nbsp; 282680 |
| Wisconsin Health and Educational Facilities Authority, (Three Pillars Senior Living Communities), 5.75%, 8/15/54 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1027059 |
|  |  | &nbsp;&nbsp;**$41619057** |
| Special Tax Revenue — 10.4% | Special Tax Revenue — 10.4% | Special Tax Revenue — 10.4% |
| Aerotropolis Regional Transportation Authority, CO, 5.75%, 12/1/54<sup>(1)</sup> | $2150 | &nbsp;&nbsp;$2151589 |
| Atlanta Development Authority, GA, (Westside Gulch Area), 5.50%, 4/1/39<sup>(1)</sup> | 1640 | &nbsp;&nbsp;&nbsp;&nbsp; 1691282 |
| Lakewood Ranch Stewardship District, FL, (Villages of Lakewood Ranch South): |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 5/1/46 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1000202 |
| &nbsp;&nbsp;&nbsp;6.00%, 5/1/56 | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 2066616 |
| Maryland Economic Development Corp., (Port Covington), 4.00%, 9/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp; 117397 |
| Mida Mountain Village Public Infrastructure District, UT, 5.125%, 6/15/54<sup>(1)</sup> | 1190 | &nbsp;&nbsp;&nbsp;&nbsp; 1178298 |
| New York City Transitional Finance Authority, NY, Future Tax Revenue, 3.00%, 11/1/47 | 4205 | &nbsp;&nbsp;&nbsp;&nbsp; 3207980 |
| New York Dormitory Authority, Personal Income Tax Revenue, 5.50%, 3/15/53<sup>(2)</sup> | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 2161120 |
| New York State Urban Development Corp., Personal Income Tax Revenue, 5.00%, 3/15/44<sup>(2)</sup> | 6900 | &nbsp;&nbsp;&nbsp;&nbsp; 7177518 |
| Puerto Rico Sales Tax Financing Corp.: |  |  |
| &nbsp;&nbsp;&nbsp;0.00%, 7/1/51 | 2250 | &nbsp;&nbsp;&nbsp;&nbsp; 565751 |
| &nbsp;&nbsp;&nbsp;5.00%, 7/1/58 | 4015 | &nbsp;&nbsp;&nbsp;&nbsp; 3872014 |
| Washington Metropolitan Area Transit Authority, D.C., Sustainability Bonds, 5.25%, 7/15/59<sup>(2)</sup> | 4000 | &nbsp;&nbsp;&nbsp;&nbsp; 4182680 |
|  |  | &nbsp;&nbsp;**$29372447** |
| Transportation — 16.8% | Transportation — 16.8% | Transportation — 16.8% |
| Chicago, IL, (O'Hare International Airport), (AMT), 5.50%, 1/1/55<sup>(2)</sup> | $1500 | &nbsp;&nbsp;$1548090 |
| Massachusetts, (Rail Enhancement Program), Sustainability Bonds, 5.00%, 6/1/53<sup>(2)</sup> | 4000 | &nbsp;&nbsp;&nbsp;&nbsp; 4143400 |
| Metropolitan Transportation Authority, NY, Green Bonds, 5.25%, 11/15/55 | 1520 | &nbsp;&nbsp;&nbsp;&nbsp; 1551576 |
| Metropolitan Washington Airports Authority, D.C., (AMT), 4.00%, 10/1/51 | 2200 | &nbsp;&nbsp;&nbsp;&nbsp; 1951287 |

---

------

Eaton Vance<br>

National Municipal Opportunities Trust

December 31, 2025

Portfolio of Investments (Unaudited) — continued

------

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Transportation (continued) | Transportation (continued) | Transportation (continued) |
| New Jersey Economic Development Authority, (The Goethals Bridge Replacement), (AMT), 5.125%, 1/1/34 | $&nbsp;&nbsp;&nbsp;&nbsp;890 | &nbsp;&nbsp;$891592 |
| New York Transportation Development Corp., (John F. Kennedy Airport Terminals 6 Redevelopment), Green Bonds, (AMT), 5.50%, 12/31/60 | 1980 | &nbsp;&nbsp;&nbsp;&nbsp; 2002835 |
| New York Transportation Development Corp., (John F. Kennedy International Airport New Terminal One): |  |  |
| &nbsp;&nbsp;&nbsp;Green Bonds, (AMT), 5.375%, 6/30/60 | 1645 | &nbsp;&nbsp;&nbsp;&nbsp; 1646400 |
| &nbsp;&nbsp;&nbsp;Green Bonds, (AMT), 6.00%, 6/30/54 | &nbsp;&nbsp;&nbsp;&nbsp;770 | &nbsp;&nbsp;&nbsp;&nbsp; 796264 |
| New York Transportation Development Corp., (LaGuardia Airport Terminal B Redevelopment), (AMT), 5.25%, 1/1/50 | 2105 | &nbsp;&nbsp;&nbsp;&nbsp; 2105084 |
| New York Transportation Development Corp., (Terminal 4 John F. Kennedy International Airport), (AMT), 5.00%, 12/1/38 | 1950 | &nbsp;&nbsp;&nbsp;&nbsp; 2059814 |
| Public Finance Authority, WI, (Georgia SR 400 Express Lanes), (AMT), 5.75%, 6/30/60 | 3500 | &nbsp;&nbsp;&nbsp;&nbsp; 3614509 |
| San Francisco City and County Airport Commission, CA, (San Francisco International Airport), (AMT), 5.00%, 5/1/49 | 5990 | &nbsp;&nbsp;&nbsp;&nbsp; 6029136 |
| South Jersey Transportation Authority, NJ, 5.25%, 11/1/52 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1027055 |
| Texas Private Activity Bond Surface Transportation Corp., (North Tarrant Express Segment 3C), (AMT), 5.00%, 6/30/58 | 3985 | &nbsp;&nbsp;&nbsp;&nbsp; 3893108 |
| Texas Transportation Commission, (State Highway 249 System), 0.00%, 8/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp;&nbsp;&nbsp; 486787 |
| Triborough Bridge and Tunnel Authority, NY, 5.00%, 11/15/51<sup>(2)</sup> | 8800 | &nbsp;&nbsp;&nbsp;&nbsp; 8980400 |
| Virginia Small Business Financing Authority, (95 Express Lanes, LLC), (AMT), 4.00%, 1/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;955 | &nbsp;&nbsp;&nbsp;&nbsp; 940340 |
| Virginia Small Business Financing Authority, (Transform 66 P3): |  |  |
| &nbsp;&nbsp;&nbsp;(AMT), 5.00%, 12/31/49 | 2865 | &nbsp;&nbsp;&nbsp;&nbsp; 2762876 |
| &nbsp;&nbsp;&nbsp;(AMT), 5.00%, 12/31/52 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 959035 |
|  |  | &nbsp;&nbsp;**$47389588** |
| Total Tax-Exempt Municipal Obligations<br> (identified cost $294,466,794) |  | &nbsp;&nbsp;**$304257462** |

---

Taxable Municipal Obligations — 4.6%

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Education — 0.4% | Education — 0.4% | Education — 0.4% |
| Maricopa County Industrial Development Authority, AZ, (Grand Canyon University), 7.375%, 10/1/29<sup>(1)</sup> | $1000 | &nbsp;&nbsp;$1049462 |
|  |  | &nbsp;&nbsp;**$1049462** |
| General Obligations — 1.1% | General Obligations — 1.1% | General Obligations — 1.1% |
| Chicago, IL: |  |  |
| &nbsp;&nbsp;&nbsp;7.375%, 1/1/33 | $1534 | &nbsp;&nbsp;$1644378 |
| &nbsp;&nbsp;&nbsp;7.781%, 1/1/35 | 1395 | &nbsp;&nbsp;&nbsp;&nbsp; 1532719 |
|  |  | &nbsp;&nbsp;**$3177097** |
| Housing — 0.4% | Housing — 0.4% | Housing — 0.4% |
| New York Housing Finance Agency, (160 Madison Avenue LLC), (LOC: Landesbank Hessen-Thuringen Girozentrale), 3.67%, 11/1/46<sup>(3)</sup> | $1150 | &nbsp;&nbsp;$1150000 |
|  |  | &nbsp;&nbsp;**$1150000** |
| Insured - Education — 0.4% | Insured - Education — 0.4% | Insured - Education — 0.4% |
| Onondaga Civic Development Corp., NY, (Upstate Properties Development, Inc.), (BAM), 3.158%, 12/1/41 | $1610 | &nbsp;&nbsp;$1239366 |
|  |  | &nbsp;&nbsp;**$1239366** |
| Insured - Housing — 0.4% | Insured - Housing — 0.4% | Insured - Housing — 0.4% |
| Oregon Facilities Authority, (CHF-Ashland, LLC - Southern Oregon University), (AG), 3.508%, 7/1/41 | $1500 | &nbsp;&nbsp;$1204594 |
|  |  | &nbsp;&nbsp;**$1204594** |
| Insured - Transportation — 0.5% | Insured - Transportation — 0.5% | Insured - Transportation — 0.5% |
| Alameda Corridor Transportation Authority, CA, (AG), 0.00%, 10/1/45 | $4500 | &nbsp;&nbsp;$1349288 |
|  |  | &nbsp;&nbsp;**$1349288** |
| Lease Revenue/Certificates of Participation — 0.1% | Lease Revenue/Certificates of Participation — 0.1% | Lease Revenue/Certificates of Participation — 0.1% |
| National Finance Authority, NH, (Centurion BioSquare, Inc.), 9.58%, 12/15/38 | $&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;$142349 |
| National Finance Authority, NH, (Centurion Foundation), 11.00%, 12/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp; 101597 |
|  |  | &nbsp;&nbsp;**$243946** |
| Special Tax Revenue — 0.8% | Special Tax Revenue — 0.8% | Special Tax Revenue — 0.8% |
| American Samoa Economic Development Authority, 3.72%, 9/1/27<sup>(1)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;735 | &nbsp;&nbsp;$716843 |

---

------

Eaton Vance<br>

National Municipal Opportunities Trust

December 31, 2025

Portfolio of Investments (Unaudited) — continued

------

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Special Tax Revenue (continued) | Special Tax Revenue (continued) | Special Tax Revenue (continued) |
| Oneida Indian Nation of New York, 8.00%, 9/1/40<sup>(1)</sup> | $1500 | &nbsp;&nbsp;$1525085 |
|  |  | &nbsp;&nbsp;**$2241928** |
| Transportation — 0.5% | Transportation — 0.5% | Transportation — 0.5% |
| Maryland Economic Development Corp., (Seagirt Marine Terminal), 4.75%, 6/1/42 | $1500 | &nbsp;&nbsp;$1278306 |
|  |  | &nbsp;&nbsp;**$1278306** |
| Total Taxable Municipal Obligations<br> (identified cost $13,460,232) |  | &nbsp;&nbsp;**$12933987** |
| Total Investments — 113.2%<br> (identified cost $310,357,026) |  | &nbsp;&nbsp;**$319820016** |
| Other Assets, Less Liabilities — (13.2)% |  | &nbsp;&nbsp;**$(37213597)** |
| Net Assets — 100.0% |  | &nbsp;&nbsp;**$282606419** |

---

---

| | |
|:---|:---|
| The percentage shown for each investment category in the Portfolio of Investments is based on net assets. | The percentage shown for each investment category in the Portfolio of Investments is based on net assets. |
| <sup>†</sup> | Amount is less than 0.05% or (0.05)%, as applicable. |
| <sup>(1)</sup> | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to qualified institutional buyers). At December 31, 2025, the aggregate value of these securities is $33,471,674 or 11.8% of the Trust's net assets. |
| <sup>(2)</sup> | Security represents the municipal bond held by a trust that issues residual interest bonds. |

---

---

| | |
|:---|:---|
| <sup>(3)</sup> | Variable rate demand obligation that may be tendered at par on any day for payment the same or next business day. The stated interest rate, which generally resets daily, is determined by the remarketing agent and represents the rate in effect at December 31, 2025. |
| At December 31, 2025, the concentration of the Trust's investments in the various states and territories, determined as a percentage of total investments, is as follows: | At December 31, 2025, the concentration of the Trust's investments in the various states and territories, determined as a percentage of total investments, is as follows: |

---

---

| | |
|:---|:---|
| New York | 16.5% |
| Others, representing less than 10% individually | 82.7% |

---

The Trust invests primarily in debt securities issued by municipalities. The ability of the issuers of the debt securities to meet their obligations may be affected by economic developments in a specific industry or municipality. At December 31, 2025, 16.4% of total investments are backed by bond insurance of various financial institutions and financial guaranty assurance agencies. The aggregate percentage insured by an individual financial institution or financial guaranty assurance agency ranged from 2.6% to 13.8% of total investments.

---

| | |
|:---|:---|
| **Abbreviations:** | **Abbreviations:** |
| AG | – Assured Guaranty, Inc. |
| AMT | – Interest earned from these securities may be considered a tax preference item for purposes of the Federal Alternative Minimum Tax. |
| BAM | – Build America Mutual Assurance Co. |
| FHLMC | – Federal Home Loan Mortgage Corp. |
| FNMA | – Federal National Mortgage Association |
| GNMA | – Government National Mortgage Association |
| LOC | – Letter of Credit |
| PSF | – Permanent School Fund |
| SFMR | – Single Family Mortgage Revenue |

---

The Trust did not have any open derivative instruments at December 31, 2025.

Fair Value Measurements

Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.

• Level 1 – quoted prices in active markets for identical investments

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

• Level 3 – significant unobservable inputs (including a fund's own assumptions in determining the fair value of investments)

In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

------

Eaton Vance<br>

National Municipal Opportunities Trust

December 31, 2025

Portfolio of Investments (Unaudited) — continued

------

At December 31, 2025, the hierarchy of inputs used in valuing the Trust's investments, which are carried at fair value, were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Asset Description** | &nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| Corporate Bonds | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$2628567 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$2628567 |
| Tax-Exempt Municipal Obligations | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;304257462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;304257462 |
| Taxable Municipal Obligations | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12933987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12933987 |
| **Total Investments** | &nbsp;&nbsp;**$—** | &nbsp;&nbsp;&nbsp;&nbsp;**$319820016** | &nbsp;&nbsp;&nbsp;&nbsp;**$—** | &nbsp;&nbsp;&nbsp;&nbsp;**$319820016** |

---

For information on the Trust's policy regarding the valuation of investments and other significant accounting policies, please refer to the Trust's most recent annual or semi-annual financial statements.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Eaton Vance National Municipal Opportunities Trust

- **b. Investment Company Act file number:** 811-22269

- **c. CIK number of Registrant:** 0001454741

- **d. LEI of Registrant:** 54930084Z1GHZMB5XL81

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

  - **Street Address 1:** One Post Office Square

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02109

  - **Telephone number:** 617-482-8260

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

- **a. Name of Series:** Eaton Vance National Municipal Opportunities Trust

- **c. LEI of Series:** 54930084Z1GHZMB5XL81

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $323386820.84

**Total Liabilities:** $40780857.98

**Net Assets:** $282605962.86

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -216.53000000 | **1-Year:** -5872.87000000 | **5-Year:** -27353.58000000 | **10-Year:** -100835.42000000 | **30-Year:** -64227.91000000

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

- **3-Month:** -258.68000000 | **1-Year:** -4216.63000000 | **5-Year:** -15943.68000000 | **10-Year:** -48535.13000000 | **30-Year:** -32521.37000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 1.52%                | 0.41%                | -0.04%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1954.92                | $3148001.05                                |
| Month 2  | $7814.99                 | $19953.74                                  |
| Month 3  | $221654.23               | $-1508310.49                               |

**Designated Index Information**

- **Index Name:** Securities Portfolio

- **Index Identifier:** Securities Portfolio

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Aerotropolis Regional Transportation Authority                               | AEROTROPOLIS REGL TRANPRTN AUTH CO SPL REVENUE               | CUSIP: 008051AE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2150000 | PA      | $2151588.85   | 0.76%             | 2054-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Alameda Corridor Transportation Authority                                    | ALAMEDA CA CORRIDOR TRANSPRTN AUTH REVENUE                   | CUSIP: 010869MB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $1349288.10   | 0.48%             | 2045-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Allegheny County Hospital Development Authority                              | ALLEGHENY CNTY PA HOSP DEV AUTH                              | CUSIP: 01728A4A1<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |   2330000 | PA      | $2330150.52   | 0.82%             | 2047-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| American Samoa Economic Development Authority                                | AMERICAN SAMOA AS ECON DEV AUTH GEN REVENUE                  | CUSIP: 02936TAK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    735000 | PA      | $716842.71    | 0.25%             | 2027-09-01      | Fixed         | 3.72%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                     | ARIZONA ST INDL DEV AUTH EDU REVENUE                         | CUSIP: 04052BLS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    185000 | PA      | $149563.05    | 0.05%             | 2050-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Arkansas Development Finance Authority                                       | ARKANSAS DEV FIN AUTH ENVIRONMENTAL REVENUE                  | CUSIP: 04110FAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2540000 | PA      | $2577017.71   | 0.91%             | 2053-05-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Astoria Hospital Facilities Authority                                        | ASTORIA OR HOSP FACS AUTH                                    | CUSIP: 046279CT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2015191.60   | 0.71%             | 2049-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Atlanta Development Authority/The                                            | ATLANTA GA DEV AUTH                                          | CUSIP: 04780NMX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1640000 | PA      | $1691281.98   | 0.60%             | 2039-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Atlantic Beach FL                                                    | ATLANTIC BEACH FL HLTH CARE FACS REVENUE                     | CUSIP: 048251AY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3405000 | PA      | $3406860.49   | 1.21%             | 2037-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Baltimore MD                                                         | BALTIMORE MD SPL OBLIG                                       | CUSIP: 05923TDA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $325107.71    | 0.12%             | 2042-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Bexar County Health Facilities Development Corp                              | BEXAR CNTY TX HLTH FACS DEV CORP                             | CUSIP: 088354GL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    665000 | PA      | $645480.59    | 0.23%             | 2042-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Boyle KY                                                           | BOYLE CNTY KY EDUCTNL FACS REVENUE                           | CUSIP: 10346PAT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2074678.00   | 0.73%             | 2043-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| County of Boyle KY                                                           | BOYLE CNTY KY EDUCTNL FACS REVENUE                           | CUSIP: 10346PAW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    880000 | PA      | $806509.00    | 0.29%             | 2053-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Buckeye Tobacco Settlement Financing Authority                               | BUCKEYE OH TOBACCO SETTLEMENT FING AUTH                      | CUSIP: 118217CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3195000 | PA      | $2590297.69   | 0.92%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Development Authority of Burke County/The                                    | BURKE CNTY GA DEV AUTH POLL CONTROL REVENUE                  | CUSIP: 121342PL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4250000 | PA      | $4000972.95   | 1.42%             | 2045-11-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                       | CALIFORNIA ST MUNI FIN AUTH EDUCTNL FACS REVENUE             | CUSIP: 130497AX8<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    880000 | PA      | $922623.50    | 0.33%             | 2054-06-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency Inc                                                     | CAPITAL TRUST AGY FL EDUCTNL FACS REVENUE                    | CUSIP: 14054CBA6<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    210000 | PA      | $209822.42    | 0.07%             | 2038-06-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency Inc                                                     | CAPITAL TRUST AGY FL EDUCTNL FACS REVENUE                    | CUSIP: 14054CBB4<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    395000 | PA      | $364117.00    | 0.13%             | 2048-06-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL                                                           | CHICAGO IL                                                   | CUSIP: 167486MM8<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1395000 | PA      | $1532719.14   | 0.54%             | 2035-01-01      | Fixed         | 7.78%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL                                                           | CHICAGO IL                                                   | CUSIP: 167486VV8<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1534000 | PA      | $1644377.74   | 0.58%             | 2033-01-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL                                                           | CHICAGO IL                                                   | CUSIP: 167486W70<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2104079.60   | 0.74%             | 2045-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                   | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505PL4<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   6410000 | PA      | $6205411.39   | 2.20%             | 2042-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                   | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505ZG4<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1771716.98   | 0.63%             | 2049-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Clackamas County Hospital Facility Authority                                 | CLACKAMAS CNTY OR HOSP FAC AUTH REVENUE                      | CUSIP: 179027YM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $120760.59    | 0.04%             | 2050-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                         | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FTJ3<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1110000 | PA      | $794849.58    | 0.28%             | 2058-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                         | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FZK3<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1975229.80   | 0.70%             | 2055-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Columbia County Hospital Authority/GA                                        | COLUMBIA CNTY GA HOSP AUTH                                   | CUSIP: 197479AC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1537522.05   | 0.54%             | 2053-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Dallas Housing Finance Corp                                          | DALLAS TX HSG FIN CORP                                       | CUSIP: 235298CC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2850000 | PA      | $2986759.53   | 1.06%             | 2044-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                         | DIST OF COLUMBIA REVENUE                                     | CUSIP: 25483VWC4<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    410000 | PA      | $371205.06    | 0.13%             | 2044-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Eastern Michigan University                                                  | ESTRN MICHIGAN UNIV REVENUES                                 | CUSIP: 276731D37<br>LEI: 549300K3C21R17LKDU63 | Long             | DBT              | MUN               | US        |   1975000 | PA      | $2057154.27   | 0.73%             | 2055-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Township of Freehold NJ                                                      | FREEHOLD TWP NJ                                              | CUSIP: 356502QG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $132991.68    | 0.05%             | 2029-10-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Geisinger Authority                                                          | GEISINGER PA AUTH HLTH SYS REVENUE                           | CUSIP: 368497HQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1105000 | PA      | $983958.41    | 0.35%             | 2047-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Hawaii Department of Budget & Finance                               | HAWAII ST DEPT OF BUDGET & FIN SPL PURPOSE REVENUE           | CUSIP: 419800LY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $896783.40    | 0.32%             | 2039-07-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| City of Henderson KY                                                         | HENDERSON KY EXEMPT FACS REVENUE                             | CUSIP: 425099AB4<br>LEI: 549300UJ32J1O26W1T80 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1870063.00   | 0.66%             | 2052-01-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| County of Hinds MS                                                           | HINDS CNTY MS COPS                                           | CUSIP: 433114AD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1665000 | PA      | $1540143.32   | 0.54%             | 2054-09-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Idaho Health Facilities Authority                                            | IDAHO ST HLTH FACS AUTH REVENUE                              | CUSIP: 451295H44<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |    935000 | PA      | $889058.12    | 0.31%             | 2053-03-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Idaho Housing & Finance Association                                          | IDAHO ST HSG & FIN ASSN NONPROFIT FACS REVENUE               | CUSIP: 45129GMV4<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $933777.40    | 0.33%             | 2044-05-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                   | ILLINOIS ST FIN AUTH REVENUE                                 | CUSIP: 45204FP90<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    505000 | PA      | $506308.66    | 0.18%             | 2036-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                   | ILLINOIS ST FIN AUTH REVENUE                                 | CUSIP: 45204FUE3<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    750000 | PA      | $766775.25    | 0.27%             | 2053-08-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Indiana Housing & Community Development Authority                            | INDIANA ST HSG & CMNTY DEV AUTH SF MTGE REVENUE              | CUSIP: 45505TG39<br>LEI: 549300QRKDYVNHT1OE86 | Long             | DBT              | MUN               | US        |   1465000 | PA      | $1466078.53   | 0.52%             | 2053-07-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                    | INDIANA ST FIN AUTH REVENUE                                  | CUSIP: 45506ENZ2<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4011616.00   | 1.42%             | 2050-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Iowa Finance Authority                                                       | IOWA ST FIN AUTH REVENUE                                     | CUSIP: 46246K4R0<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1429711.80   | 0.51%             | 2038-05-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Jackson County School District No 6 Central Point                            | JACKSON CNTY OR SCH DIST #6 CENTRL POINT                     | CUSIP: 467754HW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    710000 | PA      | $360637.83    | 0.13%             | 2041-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| City of Jacksonville FL                                                      | JACKSONVILLE FL EDUCTNL FACS REVENUE                         | CUSIP: 46936RAD4<br>LEI: 549300XQE0JVN9WV0J40 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $857784.90    | 0.30%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kalispel Tribe of Indians                                                    | KALISPEL TRIBE OF INDIANS PRIORITY DIST WA REVENUE           | CUSIP: 48340PAS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    390000 | PA      | $397603.13    | 0.14%             | 2038-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Knox County Health Educational & Housing Facility Board                      | KNOX CNTY TN HLTH EDUCTNL & HSG FAC BRD STUDENT HSG REVENUE  | CUSIP: 499526BK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1025090.90   | 0.36%             | 2064-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Lakewood Ranch Stewardship District                                          | LAKEWOOD RANCH FL STEWARDSHIP DIST SPL ASSMNT REVENUE        | CUSIP: 51265KAW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000202.50   | 0.35%             | 2046-05-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Lakewood Ranch Stewardship District                                          | LAKEWOOD RANCH FL STEWARDSHIP DIST SPL ASSMNT REVENUE        | CUSIP: 51265KGH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2066615.60   | 0.73%             | 2056-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Lee County Industrial Development Authority/FL                               | LEE CNTY FL INDL DEV AUTH HLTHCR FACS REVENUE                | CUSIP: 52349EEQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    960000 | PA      | $967342.94    | 0.34%             | 2054-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp                                            | LIBERTY DEV CORP NY REVENUE                                  | CUSIP: 531127AC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2560000 | PA      | $2995572.74   | 1.06%             | 2035-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power                                      | LOS ANGELES CA DEPT OF WTR & PWR REVENUE                     | CUSIP: 544532PW8<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    960000 | PA      | $992547.74    | 0.35%             | 2055-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maricopa County Industrial Development Authority                             | MARICOPA CNTY AZ INDL DEV AUTH EDU REVENUE                   | CUSIP: 56681NJD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1049462.00   | 0.37%             | 2029-10-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Maryland Economic Development Corp                                           | MARYLAND ST ECON DEV CORP ECON DEV REVENUE                   | CUSIP: 57420NDK4<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1278305.85   | 0.45%             | 2042-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Maryland Economic Development Corp                                           | MARYLAND ST ECON DEV CORP SPL OBLIG                          | CUSIP: 57422FAF3<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |    140000 | PA      | $117396.58    | 0.04%             | 2050-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                     | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57584X4P3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1587238.46   | 0.56%             | 2057-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                     | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57584YMG1<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    470000 | PA      | $484566.29    | 0.17%             | 2033-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                     | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57584YMH9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    310000 | PA      | $319548.43    | 0.11%             | 2038-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mesquite Independent School District                                         | MESQUITE TX INDEP SCH DIST                                   | CUSIP: 590760VH4<br>LEI: 549300M7COV11VUIZE16 | Long             | DBT              | MUN               | US        |    170000 | PA      | $178557.51    | 0.06%             | 2049-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                        | MET TRANSPRTN AUTH NY REVENUE                                | CUSIP: 59261A2H9<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1361953.80   | 0.48%             | 2048-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                        | MET TRANSPRTN AUTH NY REVENUE                                | CUSIP: 59261AG50<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1520000 | PA      | $1551575.72   | 0.55%             | 2055-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                        | MET TRANSPRTN AUTH NY REVENUE                                | CUSIP: 59261AZY6<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   6225000 | PA      | $5599802.09   | 1.98%             | 2048-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority Aviation Revenue                  | MET WASHINGTON DC ARPTS AUTH ARPT SYS REVENUE                | CUSIP: 592647KN0<br>LEI: 7HERAVJJLN8J1DZ6AZ19 | Long             | DBT              | MUN               | US        |   2200000 | PA      | $1951287.36   | 0.69%             | 2051-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade FL                                                      | MIAMI-DADE CNTY FL PROFESSIONAL SPORTS FRANCHISE FACS TAX RE | CUSIP: 59333HCD6<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4567181.60   | 1.62%             | 2034-10-01      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade FL                                                      | MIAMI-DADE CNTY FL PROFESSIONAL SPORTS FRANCHISE FACS TAX RE | CUSIP: 59333HCE4<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6798516.00   | 2.41%             | 2039-10-01      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                   | MICHIGAN ST FIN AUTH REVENUE                                 | CUSIP: 59447TVD2<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    995000 | PA      | $893156.18    | 0.32%             | 2047-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Michigan State Housing Development Authority                                 | MICHIGAN ST HSG DEV AUTH SF MTGE REVENUE                     | CUSIP: 594654C86<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   1115000 | PA      | $1119579.53   | 0.40%             | 2055-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mida Mountain Village Public Infrastructure District                         | MIDA MOUNTAIN VLG PUBLIC INFRASTRUCTURE DIST UT TAX ALLOCATI | CUSIP: 59561UAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1190000 | PA      | $1178298.49   | 0.42%             | 2054-06-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Military Installation Development Authority                                  | MILITARY INSTALLATION DEV AUTH UT TAX ALLOCATION REVENUE     | CUSIP: 599772AB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $468364.65    | 0.17%             | 2041-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Montgomery County Higher Education and Health Authority                      | MONTGOMERY CNTY PA HGR EDU & HLTH AUTH                       | CUSIP: 613603G94<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2725000 | PA      | $2713338.09   | 0.96%             | 2057-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Montgomery County Industrial Development Authority/PA                        | MONTGOMERY CNTY PA INDL DEV AUTH                             | CUSIP: 61360PCX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1513002.15   | 0.54%             | 2053-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Morongo Band of Mission Indians/The                                          | MORONGO BAND OF MISSION                                      | CUSIP: 617734AG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2430000 | PA      | $2628566.72   | 0.93%             | 2039-10-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Morongo Band of Mission Indians/The                                          | MORONGO BAND OF MISSION INDIANS CA REVENUE                   | CUSIP: 61773RAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    605000 | PA      | $613145.60    | 0.22%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hospital Facilities Authority of Multnomah County Oregon                     | MULTNOMAH CNTY OR HOSP FACS AUTH REVENUE                     | CUSIP: 62551PDA2<br>LEI: 549300GAP0JIG7V33754 | Long             | DBT              | MUN               | US        |   1475000 | PA      | $1136767.16   | 0.40%             | 2051-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Municipal Electric Authority of Georgia                                      | MUNI ELEC AUTH OF GA                                         | CUSIP: 62620HGR7<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |   1875000 | PA      | $1896304.31   | 0.67%             | 2064-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Muskingum OH                                                       | MUSKINGUM CNTY OH HOSP FACS                                  | CUSIP: 628077CV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1330000 | PA      | $1325836.17   | 0.47%             | 2044-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                     | NATIONAL FIN AUTH NH AFFORDABLE HSG CTFS                     | CUSIP: 63607DAE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2496537 | PA      | $2573967.71   | 0.91%             | 2041-06-20      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                     | NATIONAL FIN AUTH NH REVENUE                                 | CUSIP: 63607YAB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1415000 | PA      | $1227546.04   | 0.43%             | 2042-11-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                     | NATIONAL FIN AUTH NH REVENUE                                 | CUSIP: 63607YAC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1555000 | PA      | $1390195.35   | 0.49%             | 2042-11-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                     | NATIONAL FIN AUTH NH REVENUE                                 | CUSIP: 63607YAF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    360000 | PA      | $360521.60    | 0.13%             | 2046-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                     | NATIONAL FIN AUTH NH REVENUE                                 | CUSIP: 63607YAG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    780000 | PA      | $777639.95    | 0.28%             | 2054-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                     | NATIONAL FIN AUTH NH REVENUE                                 | CUSIP: 63607YBK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101596.91    | 0.04%             | 2038-12-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                     | NATIONAL FIN AUTH NH LEASE RENT REVENUE                      | CUSIP: 63610TAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2610000 | PA      | $2701144.85   | 0.96%             | 2038-12-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                     | NATIONAL FIN AUTH NH LEASE RENT REVENUE                      | CUSIP: 63610TAB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $142349.02    | 0.05%             | 2038-12-15      | Fixed         | 9.58%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                     | NEW HAMPSHIRE ST BUSINESS FINAUTH SOL WST DISP REVENUE       | CUSIP: 64468VAK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    560000 | PA      | $539459.14    | 0.19%             | 2029-04-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                    | NEW JERSEY ST ECON DEV AUTH REVENUE                          | CUSIP: 64577B7R9<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   4205000 | PA      | $4333092.71   | 1.53%             | 2044-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                    | NEW JERSEY ST ECON DEV AUTH REV                              | CUSIP: 64577XEE2<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2042801.40   | 0.72%             | 2052-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                    | NEW JERSEY ST ECON DEV AUTH REV                              | CUSIP: 64577XEH5<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    320000 | PA      | $328464.58    | 0.12%             | 2043-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                    | NEW JERSEY ST ECON DEV AUTH REVENUE                          | CUSIP: 6459182A0<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    890000 | PA      | $891591.94    | 0.32%             | 2034-01-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                               | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                      | CUSIP: 646136WT4<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |  20000000 | PA      | $12234644.00  | 4.33%             | 2038-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Hospital Equipment Loan Council                                   | NEW MEXICO ST HOSP EQUIPMENT LOAN COUNCIL 1ST MTGE REVENUE   | CUSIP: 647377AK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $45247.61     | 0.02%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Hospital Equipment Loan Council                                   | NEW MEXICO ST HOSP EQUIPMENT LOAN COUNCIL 1ST MTGE REVENUE   | CUSIP: 647377AL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     55000 | PA      | $55149.89     | 0.02%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Hospital Equipment Loan Council                                   | NEW MEXICO ST HOSP EQUIPMENT LOAN COUNCIL 1ST MTGE REVENUE   | CUSIP: 647377AN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1786534.80   | 0.63%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Industrial Development Agency                                  | NEW YORK CITY NY INDL DEV AGY REVENUE                        | CUSIP: 64971PLK9<br>LEI: 549300XR20ZR5DHL9534 | Long             | DBT              | MUN               | US        |    280000 | PA      | $213896.65    | 0.08%             | 2046-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue      | NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE               | CUSIP: 64971XNP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4205000 | PA      | $3207979.78   | 1.14%             | 2047-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                           | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | CUSIP: 64985SNQ2<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    640000 | PA      | $640422.46    | 0.23%             | 2055-11-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| New York State Housing Finance Agency                                        | NEW YORK ST HSG FIN AGY REVENUE                              | CUSIP: 64986UB22<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1150000.00   | 0.41%             | 2046-11-01      | Floating      | 3.67%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                     | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116AV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2105000 | PA      | $2105084.20   | 0.74%             | 2050-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                     | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116CZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2760000 | PA      | $2799355.67   | 0.99%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                     | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116FN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1950000 | PA      | $2059814.45   | 0.73%             | 2038-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                     | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116GY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    770000 | PA      | $796264.39    | 0.28%             | 2054-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                     | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116HA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1645000 | PA      | $1646400.39   | 0.58%             | 2060-06-30      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                     | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116HT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2650000 | PA      | $2688562.80   | 0.95%             | 2054-12-31      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                     | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116HW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1980000 | PA      | $2002834.55   | 0.71%             | 2060-12-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Norfolk Redevelopment & Housing Authority                                    | NORFOLK VA REDEV & HSG AUTH REVENUE                          | CUSIP: 655909CM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2740571.70   | 0.97%             | 2049-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                       | NORTH CAROLINA ST MED CARE COMMISSION RETMNT FACS REVENUE    | CUSIP: 65820YSY3<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    500000 | PA      | $499978.55    | 0.18%             | 2054-10-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                       | NORTH CAROLINA ST MED CARE COMMISSION RETMNT FACS REVENUE    | CUSIP: 65820YTT3<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   1955000 | PA      | $1956842.59   | 0.69%             | 2055-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| North Carolina Turnpike Authority                                            | NORTH CAROLINA ST TURNPIKE AUTH                              | CUSIP: 65830RAR0<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $2926141.60   | 1.04%             | 2035-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Turnpike Authority                                            | NORTH CAROLINA ST TURNPIKE AUTH                              | CUSIP: 65830RAS8<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |  13000000 | PA      | $9073482.60   | 3.21%             | 2036-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Omaha Public Power District                                                  | OMAHA NE PUBLIC PWR DIST ELEC REVENUE                        | CUSIP: 682001HP0<br>LEI: 54930000VJEJ9CGIYG32 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2070389.60   | 0.73%             | 2047-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oneida Indian Nation of New York                                             | ONEIDA INDIAN NATION NY TAX REVENUE                          | CUSIP: 682504AB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1525084.95   | 0.54%             | 2040-09-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Onondaga Civic Development Corp                                              | ONONDAGA NY CIVIC DEV CORP                                   | CUSIP: 682832GW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1610000 | PA      | $1239366.57   | 0.44%             | 2041-12-01      | Fixed         | 3.16%                 | No            |                  2 | On Loan: No      |
| Oregon State Facilities Authority                                            | OREGON ST FACS AUTH REVENUE                                  | CUSIP: 68608JYW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1204594.35   | 0.43%             | 2041-07-01      | Fixed         | 3.51%                 | No            |                  2 | On Loan: No      |
| Palm Beach County Health Facilities Authority                                | PALM BEACH CNTY FL HLTH FACS AUTH REVENUE                    | CUSIP: 696507VM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    765000 | PA      | $1110146.35   | 0.39%             | 2027-07-01      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| Palm Beach County Health Facilities Authority                                | PALM BEACH CNTY FL HLTH FACS AUTH REVENUE                    | CUSIP: 696507VU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100077.98    | 0.04%             | 2027-07-01      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| Patriots Energy Group Financing Agency                                       | PATRIOTS ENERGY GROUP FING AGY SC GAS SPLY REVENUE           | CUSIP: 70342PAN4<br>LEI: 5493008X0DFBVFH4HL19 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1069037.60   | 0.38%             | 2054-10-01      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                        | PENNSYLVANIA ST ECON DEV FING AUTH T/E PRIVATE ACTIVITY REV  | CUSIP: 70868YAX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    865000 | PA      | $854539.30    | 0.30%             | 2057-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                        | PENNSYLVANIA ST ECON DEV FING AUTH UPMC REVENUE              | CUSIP: 70870JFM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $444356.95    | 0.16%             | 2048-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                          | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                  | CUSIP: 70879QUL5<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3648321.25   | 1.29%             | 2051-04-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                         | PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE                | CUSIP: 70917TRW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    980000 | PA      | $904087.73    | 0.32%             | 2051-11-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                     | PUBLIC FIN AUTH WI STUDENT HSG REVENUE                       | CUSIP: 74439YGB1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    700000 | PA      | $701979.11    | 0.25%             | 2045-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                     | PUBLIC FIN AUTH WI EDU REVENUE                               | CUSIP: 74442EEH9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    455000 | PA      | $407972.52    | 0.14%             | 2054-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                     | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PA39<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    245000 | PA      | $193703.91    | 0.07%             | 2052-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                     | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PZR9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |     10000 | PA      | $10914.92     | 0.00%             | 2050-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                     | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PZU2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    620000 | PA      | $623264.92    | 0.22%             | 2040-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                     | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PZV0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    830000 | PA      | $769343.60    | 0.27%             | 2050-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                     | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PZY4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |      5000 | PA      | $5347.63      | 0.00%             | 2052-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                     | PUBLIC FIN AUTH WI EDUCTNL FAC REVENUE                       | CUSIP: 74443DKY6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    900000 | PA      | $861163.83    | 0.30%             | 2054-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                     | PUBLIC FIN AUTH WI EDUCTNL FAC REVENUE                       | CUSIP: 74443DKZ3<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1835000 | PA      | $1717748.09   | 0.61%             | 2064-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                     | PUBLIC FIN AUTH WI SENIOR LIVING REVENUE                     | CUSIP: 74443UAZ6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    630000 | PA      | $635720.09    | 0.22%             | 2037-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                     | PUBLIC FIN AUTH WI TOLL REVENUE                              | CUSIP: 74448UAB4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3614508.80   | 1.28%             | 2060-06-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                  | PUERTO RICO CMWLTH                                           | CUSIP: 74514L3L9<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   2127000 | PA      | $2091971.08   | 0.74%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                  | PUERTO RICO CMWLTH                                           | CUSIP: 74514L3R6<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1449630.80   | 0.51%             | 2033-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4015000 | PA      | $3872013.81   | 1.37%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JQH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $565751.48    | 0.20%             | 2051-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Rhode Island Housing & Mortgage Finance Corp                                 | RHODE ISLAND ST HSG & MTGE FIN CORP                          | CUSIP: 76221R7R8<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |   1675000 | PA      | $1657688.88   | 0.59%             | 2053-10-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Salt Verde Financial Corp                                                    | SALT VERDE AZ FINANCIAL CORP SENIOR GAS REVENUE              | CUSIP: 79575EAS7<br>LEI: 549300VEWOZY6TQOIF03 | Long             | DBT              | MUN               | US        |   1245000 | PA      | $1351892.34   | 0.48%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Airport Comm-San Francisco International Airport | SAN FRANCISCO CA CITY &CNTY ARPTS COMMN INTL ARPT REV        | CUSIP: 79766DMB2<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   5990000 | PA      | $6029136.26   | 2.13%             | 2049-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                           | SOUTH CAROLINA ST JOBS-ECON DEV AUTH HLTH FACS REVENUE       | CUSIP: 837033KZ1<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    500000 | PA      | $495002.35    | 0.18%             | 2060-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                           | SOUTH CAROLINA JOBS-ECON DEV AUTH                            | CUSIP: 83704EAD6<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2138235.80   | 0.76%             | 2058-11-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                           | SOUTH CAROLINA ST JOBS-ECON DEV AUTH EDUCTNL FACS REVENUE    | CUSIP: 83704MEF9<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001282.10   | 0.35%             | 2044-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Jersey Transportation Authority                                        | S JERSEY NJ TRANSPRTN AUTH TRANSPRTN SYS REVENUE             | CUSIP: 838536MR8<br>LEI: 549300W8SZI2CAOKT956 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1027055.50   | 0.36%             | 2052-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Stamford Housing Authority                                                   | STAMFORD CT HSG AUTH                                         | CUSIP: 852640AH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $526171.15    | 0.19%             | 2040-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finance Corp                    | TARRANT CNTY TX CULTURAL EDU FACS FIN CORP RETMNT FAC REVENU | CUSIP: 87638RKF3<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   1325000 | PA      | $1313726.90   | 0.46%             | 2041-11-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Tempe Industrial Development Authority                                       | TEMPE AZ INDL DEV AUTH REVENUE                               | CUSIP: 87972MAW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $680498.37    | 0.24%             | 2037-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                         | TRIBOROUGH NY BRIDGE & TUNNEL AUTH REVENUES                  | CUSIP: 89602RGP4<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5102500.00   | 1.81%             | 2051-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Urban Development Corp                                        | NEW YORK ST URBAN DEV CORP REVENUE                           | CUSIP: 650036CF1<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |   6900000 | PA      | $7177518.00   | 2.54%             | 2044-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                         | TRIBOROUGH NY BRIDGE & TUNNEL AUTH REVENUES                  | CUSIP: 89602RGP4<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   3800000 | PA      | $3877900.00   | 1.37%             | 2051-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                         | CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE                 | CUSIP: 167593Y48<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1548090.00   | 0.55%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts Transportation Fund Revenue                    | MASSACHUSETTS ST TRANSPRTN FUND REVENUE                      | CUSIP: 57604TKE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4143400.00   | 1.47%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mesquite Independent School District                                         | MESQUITE TX INDEP SCH DIST                                   | CUSIP: 590760VH4<br>LEI: 549300M7COV11VUIZE16 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4201320.00   | 1.49%             | 2049-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania State University/The                                            | PENNSYLVANIA ST UNIV                                         | CUSIP: 7092354F9<br>LEI: 549300QDK4O4XCJ47X56 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3226830.00   | 1.14%             | 2050-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                | MASSACHUSETTS ST                                             | CUSIP: 57582TCS9<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2599900.00   | 0.92%             | 2055-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Northwest Independent School District                                        | NORTHWEST TX INDEP SCH DIST                                  | CUSIP: 667826HG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4771755.00   | 1.69%             | 2055-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Spring Independent School District                                           | SPRING TX INDEP SCH DIST                                     | CUSIP: 850001CN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3600000 | PA      | $3838608.00   | 1.36%             | 2055-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Washington Metropolitan Area Transit Authority Dedicated Revenue             | WASHINGTON DC MET AREA TRANSIT AUTH DEDICATED REVENUE        | CUSIP: 93878YDZ9<br>LEI: 549300ADKOK76HQMJS30 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4182680.00   | 1.48%             | 2059-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Alvin Independent School District/TX                                         | ALVIN TX INDEP SCH DIST                                      | CUSIP: 0224474B9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2937660.00   | 1.04%             | 2050-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Alvin Independent School District/TX                                         | ALVIN TX INDEP SCH DIST                                      | CUSIP: 0224474C7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2928832.50   | 1.04%             | 2053-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                           | NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE         | CUSIP: 64990KJD6<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2161120.00   | 0.76%             | 2053-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Texas Private Activity Bond Surface Transportation Corp                      | TEXAS ST PRIV ACTIVITY BOND SURFACE TRANSPRTN CORP REVENUE   | CUSIP: 882667AN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3985000 | PA      | $3893108.29   | 1.38%             | 2058-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas Department of Housing & Community Affairs                              | TEXAS ST DEPT OF HSG & CMNTY AFFAIRS RESDL MTG REVENUE       | CUSIP: 882750XW7<br>LEI: 549300J3RRLLZZN4WP77 | Long             | DBT              | MUN               | US        |   1555000 | PA      | $1609189.11   | 0.57%             | 2054-01-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Texas Transportation Commission State Highway 249 System                     | TEXAS ST TRANSPRTN COMMISSION ST HIGHWAY 249 SYS TOLL REV    | CUSIP: 88283NAH5<br>LEI: 5493006JSGNPGVJS7691 | Long             | DBT              | MUN               | US        |    850000 | PA      | $486786.59    | 0.17%             | 2038-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Texas Water Development Board                                                | TEXAS WTR DEV BRD ST WTR IMPLEMENTATION REVENUE FUND         | CUSIP: 88285ABJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1515768.75   | 0.54%             | 2052-10-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Tolomato Community Development District                                      | TOLOMATO FL CDD                                              | CUSIP: 889560BU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    855000 | PA      | $855531.81    | 0.30%             | 2040-05-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Tolomato Community Development District                                      | TOLOMATO FL CDD                                              | CUSIP: 889560CK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    720000 | PA      | $723410.50    | 0.26%             | 2039-05-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Tulsa County Industrial Authority                                            | TULSA CNTY OK INDL AUTH SENIOR LIVING CMNTY REVENUE          | CUSIP: 899530AY5<br>LEI: 549300WEYXBXLGN1E271 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1013849.80   | 0.36%             | 2037-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Valparaiso IN                                                        | VALPARAISO IN EXEMPT FACS REVENUE                            | CUSIP: 92028RAF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $974012.20    | 0.34%             | 2054-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Vermont Economic Development Authority                                       | VERMONT ST ECON DEV AUTH SOLID WST DISP REVENUE              | CUSIP: 924157AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $146391.03    | 0.05%             | 2036-04-01      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                                  | VIRGINIA SMALL BUSINESS FING AUTH PRIV ACTIVITY REVENUE SR   | CUSIP: 928097AB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2865000 | PA      | $2762875.64   | 0.98%             | 2049-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                                  | VIRGINIA SMALL BUSINESS FING AUTH PRIV ACTIVITY REVENUE SR   | CUSIP: 928097AC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $959034.70    | 0.34%             | 2052-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                                  | VIRGINIA ST SMALL BUSINESS FING AUTH REVENUE                 | CUSIP: 928104PQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    955000 | PA      | $940339.60    | 0.33%             | 2039-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                  | WASHINGTON ST HSG FIN COMMISSION NONPROFIT HSG REVENUE       | CUSIP: 939783TD8<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1210836.99   | 0.43%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                  | WASHINGTON ST HSG FIN COMMISSION NONPROFIT HSG REVENUE       | CUSIP: 939783Z58<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   3860000 | PA      | $3829168.25   | 1.35%             | 2061-01-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                  | WASHINGTON ST HSG FIN COMMISSION NONPROFIT HSG REVENUE       | CUSIP: 939783ZA7<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    305000 | PA      | $282680.47    | 0.10%             | 2049-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                  | WASHINGTON ST HSG FIN COMMISSION NONPROFIT REVENUE           | CUSIP: 93978LHG4<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $948175.10    | 0.34%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                  | WASHINGTON ST HSG FIN COMMISSION                             | CUSIP: 93978T4M8<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   3332223 | PA      | $3155364.29   | 1.12%             | 2037-04-20      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| West Virginia Hospital Finance Authority                                     | WEST VIRGINIA ST HOSP FIN AUTH                               | CUSIP: 956622W34<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2010000 | PA      | $1864067.17   | 0.66%             | 2053-06-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| West Virginia Hospital Finance Authority                                     | WEST VIRGINIA ST HOSP FIN AUTH                               | CUSIP: 956622W91<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2140600.40   | 0.76%             | 2048-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Westchester County Local Development Corp                                    | WESTCHESTER CNTY NY LOCAL DEV CORP REVENUE                   | CUSIP: 95737TFP6<br>LEI: 549300KOSU8OC75V9238 | Long             | DBT              | MUN               | US        |    800000 | PA      | $815704.24    | 0.29%             | 2051-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Westchester County Local Development Corp                                    | WESTCHESTER CNTY NY LOCAL DEV CORP REVENUE                   | CUSIP: 95737TFQ4<br>LEI: 549300KOSU8OC75V9238 | Long             | DBT              | MUN               | US        |    225000 | PA      | $226404.77    | 0.08%             | 2052-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                          | WISCONSIN ST HLTH & EDUCTNL FACS AUTH REVENUE                | CUSIP: 97712JJE4<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1027059.10   | 0.36%             | 2054-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Yonkers Economic Development Corp                                            | YONKERS NY ECON DEV CORP EDUCTNL REVENUE                     | CUSIP: 98608MAF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |         0 | PA      | $0.00         | 0.00%             | 2049-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-29

**Name of Applicant:** Eaton Vance National Municipal Opportunities Trust

**Signature:** James Kirchner

**Name of Signer:** James Kirchner

**Title:** Treasurer