# EDGAR Filing Document

**Accession Number:** 0001479026
**File Stem:** 0000940400-25-004949
**Filing Date:** 2025-10
**Character Count:** 68379
**Document Hash:** 4a7a8c11b212cf32ef80b2210430f4b2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-004949.hdr.sgml**: 20251021

**ACCESSION NUMBER**: 0000940400-25-004949

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251021

**DATE AS OF CHANGE**: 20251021

**PERIOD START**: 20250831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Goldman Sachs ETF Trust
- **CENTRAL INDEX KEY:** 0001479026

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23013
- **FILM NUMBER:** 251407565

**BUSINESS ADDRESS:**
- **STREET 1:** 200 WEST STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10282-2198
- **BUSINESS PHONE:** (312) 655-4400

**MAIL ADDRESS:**
- **STREET 1:** 200 WEST STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10282-2198

## Series and Classes Contracts Data

### Goldman Sachs Ultra Short Municipal Income ETF (Series ID: S000085808)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000251203 | Goldman Sachs Ultra Short Municipal Income ETF | GUMI            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Goldman Sachs ETF Trust

- **b. Investment Company Act file number:** 811-23013

- **c. CIK number of Registrant:** 0001479026

- **d. LEI of Registrant:** 549300VEZF7K2ES5WL82

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

  - **Street Address 1:** 200 West Street

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10282

  - **Telephone number:** 312-655-4400

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

- **a. Name of Series:** Goldman Sachs Ultra Short Municipal Income ETF

- **b. EDGAR series identifier (if any):** S000085808

- **c. LEI of Series:** 9845007D7FAFEAB3FE70

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

- **a. Date of fiscal year-end:** 2025-08-31

- **b. Date as of which information is reported:** 2025-08-31

**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:** $14472742.01

**Total Liabilities:** $623986.27

**Net Assets:** $13848755.74

**Cash Not Reported:** $19476.68

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 364.16000000 | **1-Year:** 486.89000000 | **5-Year:** 79.06000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

- **3-Month:** 26.65000000 | **1-Year:** 41.38000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000251203 | 0.34%                | 0.34%                | 0.30%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $192.50                  | $8543.88                                   |
| Month 2  | $21.00                   | $8048.88                                   |
| Month 3  | $0.00                    | $6263.84                                   |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| FRANKLIN CNTY OH REVENUE       | County of Franklin OH                                                | CUSIP: 353202FK5<br>LEI: 549300VCBUC1RZE7KL42 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100015.16    | 0.72%             | 2046-12-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| ALABAMA ST                     | State of Alabama                                                     | CUSIP: 010411AK2<br>LEI: 549300TKZX0YNENZC895 | Long             | DBT              | MUN               | US        |     55000 | PA      | $55011.04     | 0.40%             | 2026-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST                 | State of Connecticut                                                 | CUSIP: 20772KZT9<br>LEI: 549300PHW5BZHA7BEX81 | Long             | DBT              | MUN               | US        |     40000 | PA      | $41606.45     | 0.30%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA CNTY OK FIN AUTH EDUC | Oklahoma County Finance Authority                                    | CUSIP: 67868UFW8<br>LEI: 549300KPR05JUN0F1289 | Long             | DBT              | MUN               | US        |    210000 | PA      | $210342.66    | 1.52%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CAPE CORAL FL WTR & SWR REVENU | City of Cape Coral FL Water & Sewer Revenue                          | CUSIP: 139372QX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $40077.11     | 0.29%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MEDFORD OR HOSP FACS AUTH REVE | Medford Hospital Facilities Authority                                | CUSIP: 584283GJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     80000 | PA      | $81662.46     | 0.59%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH NY BRIDGE & TUNNEL  | Triborough Bridge & Tunnel Authority                                 | CUSIP: 89602RGK5<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |    175000 | PA      | $175000.00    | 1.26%             | 2032-01-01      | Variable      | 2.64%                 | No            |                  2 | On Loan: No      |
| N TX TOLLWAY AUTH REVENUE      | North Texas Tollway Authority                                        | CUSIP: 66285WWX0<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |     15000 | PA      | $15122.76     | 0.11%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAGINAW MI HOSP FIN AUTH       | Saginaw Hospital Finance Authority                                   | CUSIP: 786744HS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $248440.39    | 1.79%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHARLESTON CNTY SC SCH DIST    | Charleston County School District                                    | CUSIP: 160075B97<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $239115.91    | 1.73%             | 2026-05-07      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority                | CUSIP: 70870JAK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     80000 | PA      | $82257.17     | 0.59%             | 2026-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA BRD OF RGTS ST UNIV SY | Arizona Board of Regents                                             | CUSIP: 04048RPZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $61129.31     | 0.44%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority                | CUSIP: 708692BP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $400032.32    | 2.89%             | 2038-08-01      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST                   | State of Wisconsin                                                   | CUSIP: 97705MM44<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |     30000 | PA      | $30532.18     | 0.22%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST UNIV SYS FING REVENUE | Texas State University System                                        | CUSIP: 88278PUJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $25076.37     | 0.18%             | 2026-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA | Chicago O'Hare International Airport                                 | CUSIP: 1675935K4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $108155.52    | 0.78%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENDER OPTION BOND TRUST RECEI | Tender Option Bond Trust Receipts/Certificates                       | CUSIP: 88035JW99<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.72%             | 2047-05-01      | Variable      | 2.85%                 | No            |                  2 | On Loan: No      |
| KING CNTY WA SCH DIST #405 BEL | King County School District No 405 Bellevue                          | CUSIP: 495098YT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $10332.64     | 0.07%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA CNTY OK FIN AUTH EDUC | Oklahoma County Finance Authority                                    | CUSIP: 67868UFX6<br>LEI: 549300KPR05JUN0F1289 | Long             | DBT              | MUN               | US        |     45000 | PA      | $46057.64     | 0.33%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                    | CUSIP: 452152S44<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    130000 | PA      | $130749.74    | 0.94%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN & SAINT PAUL MN | City of Minneapolis MN/St Paul Housing & Redevelopment Authority     | CUSIP: 603695HY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $10044.41     | 0.07%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZATION CORP  | Sales Tax Securitization Corp                                        | CUSIP: 79467BEC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $41127.88     | 0.30%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST DEPT OF ADMIN SVCS COP | State of Ohio Department of Administrative Services                  | CUSIP: 67755NHR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $70000.00     | 0.51%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N SUMTER CNTY FL UTILITY DEPEN | North Sumter County Utility Dependent District                       | CUSIP: 66272RBS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $71592.49     | 0.52%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENDER OPTION BOND TRUST RECEI | Tender Option Bond Trust Receipts/Certificates                       | CUSIP: 88035MSH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.72%             | 2040-10-01      | Variable      | 2.76%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE   | Illinois Finance Authority                                           | CUSIP: 45204EKD9<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |     50000 | PA      | $50400.32     | 0.36%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MEMPHIS TN                     | City of Memphis TN                                                   | CUSIP: 586145F41<br>LEI: 254900N4APYJWTAF5J46 | Long             | DBT              | MUN               | US        |     75000 | PA      | $75277.28     | 0.54%             | 2026-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY HSG DEV CORP  | New York City Housing Development Corp                               | CUSIP: 64972KKK0<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    125000 | PA      | $125026.66    | 0.90%             | 2055-05-01      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| COOK CNTY IL SCH DIST #100 BER | Cook County School District No 100 South Berwyn                      | CUSIP: 214399TT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     90000 | PA      | $90518.89     | 0.65%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW BRAUNFELS TX UTILITY REVEN | City of New Braunfels TX Utility System Revenue                      | CUSIP: 642577TG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5008.52      | 0.04%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BURLESON TX                    | City of Burleson TX                                                  | CUSIP: 121385XL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     55000 | PA      | $55091.89     | 0.40%             | 2026-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ST WTR DEV AUTH  | West Virginia Water Development Authority                            | CUSIP: 956695G46<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $35130.86     | 0.25%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCK ISLAND CNTY IL PUBLIC BLD | Rock Island County Public Building Commission                        | CUSIP: 772358CK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50290.78     | 0.36%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTH OF NEW YORK & NEW JE | Port Authority of New York & New Jersey                              | CUSIP: 73358XNE8<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.72%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI CTFS        | Public Finance Authority                                             | CUSIP: 74448XAK8<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    275000 | PA      | $275000.00    | 1.99%             | 2053-02-15      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| YUMA AZ MUNI PROPERTY CORP EXC | City of Yuma Municipal Property Corp                                 | CUSIP: 98851UAL1<br>LEI: 549300FYH11KOMXWJA47 | Long             | DBT              | MUN               | US        |     20000 | PA      | $20019.70     | 0.14%             | 2026-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MET GOVT NASHVILLE & DAVIDSON  | Metropolitan Government of Nashville & Davidson County TN            | CUSIP: 592112TW6<br>LEI: 549300GW8FVQJ3DU6O10 | Long             | DBT              | MUN               | US        |     10000 | PA      | $10222.47     | 0.07%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COOK CNTY IL SCH DIST #81 SCHI | Cook County School District No 81 Schiller Park                      | CUSIP: 214057GS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30094.54     | 0.22%             | 2025-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KANE CNTY IL SCH DIST #129 AUR | Kane County School District No 129 West Aurora                       | CUSIP: 483890RA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $75686.00     | 0.55%             | 2026-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                     | CUSIP: 709224LL1<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |     65000 | PA      | $65375.90     | 0.47%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX CULTURAL EDU FA | Harris County Cultural Education Facilities Finance Corp             | CUSIP: 414009LQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $40071.19     | 0.29%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST INFRASTRUCTURE AGY LAY | Utah Infrastructure Agency                                           | CUSIP: 917462AE3<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |     25000 | PA      | $25035.31     | 0.18%             | 2025-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BALTIMORE MD REVENUE           | City of Baltimore MD                                                 | CUSIP: 059231ZL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30052.27     | 0.22%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEMPLE UNIV PA OF THE CMWLTH S | Temple University-of The Commonwealth System of Higher Education     | CUSIP: 880178CJ5<br>LEI: 549300SCHVPNNFRR3L71 | Long             | DBT              | MUN               | US        |     25000 | PA      | $25950.03     | 0.19%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MATANUSKA-SUSITNA BORO AK LEAS | Borough of Matanuska-Susitna AK                                      | CUSIP: 576553CE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20000.00     | 0.14%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TULSA CNTY OK INDL AUTH EDUCTN | Tulsa County Industrial Authority                                    | CUSIP: 89952PEU5<br>LEI: 549300WEYXBXLGN1E271 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.72%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HLTH FACS AUTH HOSP R | Idaho Health Facilities Authority                                    | CUSIP: 45129UCB8<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100003.40    | 0.72%             | 2048-12-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE   | Illinois Finance Authority                                           | CUSIP: 45203HN57<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |     60000 | PA      | $60058.81     | 0.43%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TULSA CNTY OK INDL AUTH EDUCTN | Tulsa County Industrial Authority                                    | CUSIP: 89952PEB7<br>LEI: 549300WEYXBXLGN1E271 | Long             | DBT              | MUN               | US        |     20000 | PA      | $20034.35     | 0.14%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MTGE CORP MF | FHLMC Multifamily VRD Certificates                                   | CUSIP: 31350AAZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    345000 | PA      | $345000.00    | 2.49%             | 2038-09-15      | Variable      | 3.41%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NV SCH DIST         | Clark County School District                                         | CUSIP: 181059TC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $35248.75     | 0.25%             | 2026-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| S FL WTR MGMT DIST COPS        | South Florida Water Management District                              | CUSIP: 83786PCK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $10144.45     | 0.07%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX INDEP SCH DIST      | Houston Independent School District                                  | CUSIP: 442403RE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $31138.80     | 0.22%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DOUGLAS CNTY NE SCH DIST #1    | Omaha School District                                                | CUSIP: 259291MK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $45089.15     | 0.33%             | 2026-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA HOSP DEV AUT | Allegheny County Hospital Development Authority                      | CUSIP: 01728A3L8<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |     35000 | PA      | $35435.72     | 0.26%             | 2026-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HLTH & EDUCTNL FA | Wisconsin Health & Educational Facilities Authority                  | CUSIP: 97712DJV9<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    170000 | PA      | $170168.44    | 1.23%             | 2026-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JOHNSON & MIAMI CNTYS KS UNIF  | Johnson & Miami Counties Unified School District No 230 Spring Hills | CUSIP: 478164GU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $95000.00     | 0.69%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST CMWLTH UNIV HLTH S | Virginia Commonwealth University Health System Authority             | CUSIP: 92778LBR0<br>LEI: 07ROV40HIZGU2Q6OXJ58 | Long             | DBT              | MUN               | US        |     20000 | PA      | $20396.65     | 0.15%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TULSA CNTY OK INDL AUTH EDUCTN | Tulsa County Industrial Authority                                    | CUSIP: 89952PEA9<br>LEI: 549300WEYXBXLGN1E271 | Long             | DBT              | MUN               | US        |    125000 | PA      | $125000.00    | 0.90%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PEORIA IL MET ARPT AUTH        | Peoria Metropolitan Airport Authority                                | CUSIP: 71319RCD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50284.52     | 0.36%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT OF SEATTLE WA REVENUE     | Port of Seattle WA                                                   | CUSIP: 735389B56<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |    110000 | PA      | $113691.34    | 0.82%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH RE | New Jersey Economic Development Authority                            | CUSIP: 64577BKK9<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    120000 | PA      | $120063.31    | 0.87%             | 2026-06-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SIOUX FALLS SD SALES TAX REVEN | City of Sioux Falls SD Sales Tax Revenue                             | CUSIP: 829594JR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50016.05     | 0.36%             | 2026-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH SO | California Municipal Finance Authority                               | CUSIP: 13048RAJ6<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    250000 | PA      | $249986.58    | 1.81%             | 2041-07-01      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                     | CUSIP: 709224LK3<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |     35000 | PA      | $35196.78     | 0.25%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CA PUBLIC FACS FING  | San Diego Public Facilities Financing Authority                      | CUSIP: 79730AJC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20025.14     | 0.14%             | 2026-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HSG & MTGE FIN | Rhode Island Housing & Mortgage Finance Corp                         | CUSIP: 76221SLX7<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |    140000 | PA      | $140690.20    | 1.02%             | 2027-10-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| MACOMB CNTY MI                 | County of Macomb MI                                                  | CUSIP: 554885L76<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50016.33     | 0.36%             | 2027-05-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| DENVER CITY & CNTY CO ARPT REV | City & County of Denver CO Airport System Revenue                    | CUSIP: 249182KZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $133448.77    | 0.96%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| W HARRIS CNTY TX REGL WTR AUTH | West Harris County Regional Water Authority                          | CUSIP: 95308RJE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $15085.26     | 0.11%             | 2026-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JACKSONVILLE FL TRANSIT REVENU | City of Jacksonville FL                                              | CUSIP: 469495DF9<br>LEI: 549300XQE0JVN9WV0J40 | Long             | DBT              | MUN               | US        |     35000 | PA      | $35070.91     | 0.25%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WAYNE WESTLAND MI CMNTY SCHS   | Wayne-Westland Community Schools                                     | CUSIP: 946498HC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $25095.56     | 0.18%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HLTH & EDUCTNL FA | Wisconsin Health & Educational Facilities Authority                  | CUSIP: 97712DQF6<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |     45000 | PA      | $45796.60     | 0.33%             | 2026-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ANCHORAGE AK                   | Municipality of Anchorage AK                                         | CUSIP: 033161U57<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30000.00     | 0.22%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX FLOOD CONTROL D | Harris County Flood Control District                                 | CUSIP: 4140187N5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30811.93     | 0.22%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RENO CNTY KS                   | County of Reno KS                                                    | CUSIP: 759744TD7<br>LEI: 549300JTKVH2NPNMK627 | Long             | DBT              | MUN               | US        |    115000 | PA      | $115000.00    | 0.83%             | 2025-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST UNIV           | Pennsylvania State University/The                                    | CUSIP: 709235XQ3<br>LEI: 549300QDK4O4XCJ47X56 | Long             | DBT              | MUN               | US        |     35000 | PA      | $35000.00     | 0.25%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                    | CUSIP: 452153BC2<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    180000 | PA      | $186243.71    | 1.34%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH 9/4/25       | ILLINOIS FIN AUTH 9/4/25                                             | CUSIP: 45203UAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    447000 | PA      | $447016.76    | 3.23%             | 2025-09-04      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| INDIANA ST HLTH FAC FING AUTH  | Indiana Health Facility Financing Authority                          | CUSIP: 454798TW9<br>LEI: 549300P2SI60HN6M7V39 | Long             | DBT              | MUN               | US        |     35000 | PA      | $35041.64     | 0.25%             | 2025-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH PLAINFIELD NJ SCH DIST   | South Plainfield School District                                     | CUSIP: 839448EE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $210013.80    | 1.52%             | 2025-09-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ALLEN CNTY OH HOSP FACS REVENU | County of Allen OH Hospital Facilities Revenue                       | CUSIP: 01757LGQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100591.56    | 0.73%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NV SCH DIST         | Clark County School District                                         | CUSIP: 181059TY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30213.21     | 0.22%             | 2026-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST MUNI PWR AGY | North Carolina Municipal Power Agency No 1                           | CUSIP: 6582034K7<br>LEI: 549300N3Q65G1ODRFX75 | Long             | DBT              | MUN               | US        |     10000 | PA      | $10190.36     | 0.07%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WAYNE MI ST UNIV REVENUES      | Wayne State University                                               | CUSIP: 946303ZE7<br>LEI: 549300GWQMQVAS66E613 | Long             | DBT              | MUN               | US        |      5000 | PA      | $5024.45      | 0.04%             | 2026-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TULSA OK PUBLIC FACS AUTH      | Tulsa Public Facilities Authority                                    | CUSIP: 899673CV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $25000.29     | 0.18%             | 2026-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA                 | City of Los Angeles CA                                               | CUSIP: 544351SF7<br>LEI: 549300E7TO710PTXPJ65 | Long             | DBT              | MUN               | US        |    170000 | PA      | $174109.43    | 1.26%             | 2026-06-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CORNING NY CITY SCH DIST       | Corning City School District                                         | CUSIP: 219417VD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     34000 | PA      | $34424.92     | 0.25%             | 2026-06-18      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI ST HOSP EQUIPMENT& | Mississippi Hospital Equipment & Facilities Authority                | CUSIP: 605360TN6<br>LEI: 549300DW2GVUIGE04396 | Long             | DBT              | MUN               | US        |     55000 | PA      | $56180.34     | 0.41%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| YAVAPAI CNTY AZ INDL DEV AUTH  | Industrial Development Authority of the County of Yavapai/The        | CUSIP: 985900EM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $117047.35    | 0.85%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SARASOTA CNTY FL UTILITY SYS R | County of Sarasota FL Utility System Revenue                         | CUSIP: 803321NG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $40584.79     | 0.29%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCK ISLAND CNTY IL SCH DIST # | Rock Island County School District No 41 Rock Island/Milan           | CUSIP: 772436EA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $120390.08    | 0.87%             | 2025-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TX INDEP SCH DIST    | Arlington Independent School District/TX                             | CUSIP: 0418264R6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $207883.78    | 1.50%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FULTON CNTY GA                 | County of Fulton GA                                                  | CUSIP: 360046V94<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $70335.33     | 0.51%             | 2025-12-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA ST UNIV & AGRIC & ME | Louisiana State University & Agricultural & Mechanical College       | CUSIP: 546540PR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $76214.00     | 0.55%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MI ARPT AUTH REVENU | Wayne County Airport Authority                                       | CUSIP: 944514TW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $70391.83     | 0.51%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KANSAS ST DEV FIN AUTH REVENUE | Kansas Development Finance Authority                                 | CUSIP: 48542RLG7<br>LEI: 549300WTL7BL8KBDPR87 | Long             | DBT              | MUN               | US        |     65000 | PA      | $65265.77     | 0.47%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH HOSP REVEN | Indiana Finance Authority                                            | CUSIP: 45471APX4<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |     30000 | PA      | $30822.33     | 0.22%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UPTON CNTY TX                  | County of Upton TX                                                   | CUSIP: 916813BK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50520.63     | 0.36%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DAYTON TX INDEP SCH DIST       | Dayton Independent School District                                   | CUSIP: 240091KK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50086.64     | 0.36%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DALLAS-FORT WORTH TX INTERNATI | Dallas Fort Worth International Airport                              | CUSIP: 23503CAD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     65000 | PA      | $65258.19     | 0.47%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX UTILITY SYS REVENUE | City of Houston TX Combined Utility System Revenue                   | CUSIP: 44244CCH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $35149.34     | 0.25%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MOUNT VERNON IL                | City of Mount Vernon IL                                              | CUSIP: 623385EX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $116749.53    | 0.84%             | 2026-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST HLTH FAC FING AUTH  | Indiana Health Facility Financing Authority                          | CUSIP: 454798UP2<br>LEI: 549300P2SI60HN6M7V39 | Long             | DBT              | MUN               | US        |     50000 | PA      | $50059.48     | 0.36%             | 2025-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH WASHINGTON CNTY MN INDEP | South Washington County Independent School District No 833/MN        | CUSIP: 840610SS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $70012.69     | 0.51%             | 2026-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST FIN AUTH REVENUE   | Michigan Finance Authority                                           | CUSIP: 59447TAL7<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |     25000 | PA      | $25041.22     | 0.18%             | 2026-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HLTH & EDUCTNL FAC | Health & Educational Facilities Authority of the State of Missouri   | CUSIP: 60637APF3<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |    120000 | PA      | $121233.20    | 0.88%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI CTFS        | Public Finance Authority                                             | CUSIP: 74448XAS1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    225000 | PA      | $225000.00    | 1.62%             | 2052-12-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| METRO OR                       | Metro/OR                                                             | CUSIP: 59163PLV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5003.25      | 0.04%             | 2026-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| APPLING CNTY GA DEV AUTH       | Development Authority of Appling County                              | CUSIP: 038315EX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300000.00    | 2.17%             | 2038-01-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| FORT SMITH AR WTR & SWR REVENU | City of Fort Smith AR Water & Sewer Revenue                          | CUSIP: 348815MT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $75136.56     | 0.54%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE   | Illinois Finance Authority                                           | CUSIP: 45204ES82<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    110000 | PA      | $113850.66    | 0.82%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PEORIA CNTY IL                 | County of Peoria IL                                                  | CUSIP: 712855KH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $45336.59     | 0.33%             | 2025-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ESSEX CNTY NJ                  | County of Essex NJ                                                   | CUSIP: 296804UC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50019.39     | 0.36%             | 2027-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SAINT CLOUD MN HLTH CARE REVEN | City of St Cloud MN                                                  | CUSIP: 78916VDK3<br>LEI: 549300IOO80ICGIWAU74 | Long             | DBT              | MUN               | US        |     85000 | PA      | $86287.30     | 0.62%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA ST FIN AUTH REVENUE       | Iowa Finance Authority                                               | CUSIP: 46246K5A6<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |     95000 | PA      | $95838.78     | 0.69%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF ILLINOIS IL REVENUES   | University of Illinois                                               | CUSIP: 9143536R3<br>LEI: 549300VD8PPC4Q5HK850 | Long             | DBT              | MUN               | US        |    110000 | PA      | $114197.52    | 0.82%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHATTANOOGA TN HLTH EDUCTNL &  | Chattanooga Health Educational & Housing Facility Board              | CUSIP: 162410CB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.72%             | 2039-05-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| FRANKLIN CNTY MO COPS          | County of Franklin MO                                                | CUSIP: 352875EF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20402.19     | 0.15%             | 2027-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI ST BUSINESS FIN CO | Mississippi Business Finance Corp                                    | CUSIP: 60528ACK8<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |    130000 | PA      | $130000.00    | 0.94%             | 2035-11-01      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| GTR ORLANDO FL AVIATION AUTH A | Greater Orlando Aviation Authority                                   | CUSIP: 392274K96<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |     35000 | PA      | $35064.02     | 0.25%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA AGRI 11/05/2025      | MINNESOTA AGRI 11/05/2025                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $300024.00    | 2.17%             | 2025-11-05      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| LENOIR CITY TN ELEC SYS REVENU | City of Lenoir City TN Electric System Revenue                       | CUSIP: 526138LN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $210570.76    | 1.52%             | 2026-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WAUKESHA WI SCH DIST           | Waukesha School District                                             | CUSIP: 943099FV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $35079.54     | 0.25%             | 2027-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WAGONER CNTY OK INDEP SCH DIST | Wagoner County Independent School District No 17 Coweta              | CUSIP: 930546DU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $35546.90     | 0.26%             | 2026-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PARSIPPANY-TROY HILLS TWP NJ   | Township of Parsippany-Troy Hills NJ                                 | CUSIP: 701859J84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200006.72    | 1.44%             | 2025-09-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZATION CORP  | Sales Tax Securitization Corp                                        | CUSIP: 79467BCS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $205639.42    | 1.48%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JACKSONVILLE FL SPL REVENUE    | City of Jacksonville FL                                              | CUSIP: 469487SF0<br>LEI: 549300XQE0JVN9WV0J40 | Long             | DBT              | MUN               | US        |     30000 | PA      | $30061.04     | 0.22%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENDER OPTION BOND TRUST RECEI | Tender Option Bond Trust Receipts/Certificates                       | CUSIP: 88035G5B0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200000.00    | 1.44%             | 2048-07-01      | Variable      | 2.88%                 | No            |                  2 | On Loan: No      |
| SAINT LOUIS MO MUNI FIN CORP S | St Louis Municipal Finance Corp                                      | CUSIP: 79165NBG8<br>LEI: 549300CR13DAYKUKQN03 | Long             | DBT              | MUN               | US        |     25000 | PA      | $25265.65     | 0.18%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL             | County of Miami-Dade FL                                              | CUSIP: 59333FF39<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |     30000 | PA      | $30662.41     | 0.22%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TX INDEP SCH DIST  | San Antonio Independent School District/TX                           | CUSIP: 796269VP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $60086.53     | 0.43%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST DEPT OF TRANSPRTN  | State of Maryland Department of Transportation                       | CUSIP: 574204A29<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $115021.05    | 0.83%             | 2026-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MET WASHINGTON DC ARPTS AUTH A | Metropolitan Washington Airports Authority Aviation Revenue          | CUSIP: 592647JV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $112549.81    | 0.81%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PROPERTY & BLDGS C | Kentucky State Property & Building Commission                        | CUSIP: 49151FNJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $15058.58     | 0.11%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NV SCH DIST         | Clark County School District                                         | CUSIP: 181059TD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $135956.06    | 0.98%             | 2027-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HSG & MTGE FIN A | New Jersey Housing & Mortgage Finance Agency                         | CUSIP: 6461087M6<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |    400000 | PA      | $400137.00    | 2.89%             | 2027-11-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| GTR LATROBE PA SCH AUTH        | Greater Latrobe School Authority                                     | CUSIP: 392100LK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     65000 | PA      | $65078.09     | 0.47%             | 2027-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HLTH & EDUCTNL  | Connecticut State Health & Educational Facilities Authority          | CUSIP: 20774YGM3<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |     50000 | PA      | $50048.69     | 0.36%             | 2025-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MONROE CNTY NY INDL DEV CORP R | Monroe County Industrial Development Corp/NY                         | CUSIP: 61075TLW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $15021.63     | 0.11%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FAYETTE CNTY KY SCH DIST FIN C | Fayette County School District Finance Corp                          | CUSIP: 312432C54<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $125026.11    | 0.90%             | 2027-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES | New York State Dormitory Authority                                   | CUSIP: 64990GYH9<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |     75000 | PA      | $75721.03     | 0.55%             | 2026-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE   | Illinois Finance Authority                                           | CUSIP: 45203HN65<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |     50000 | PA      | $50047.03     | 0.36%             | 2026-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AUSTIN TX                      | City of Austin TX                                                    | CUSIP: 052397VD5<br>LEI: IW10PQVTU7HKS3JMW253 | Long             | DBT              | MUN               | US        |     75000 | PA      | $75000.00     | 0.54%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST TRANSPRTN BRD HIGHW | Arizona Department of Transportation State Highway Fund Revenue      | CUSIP: 040654WV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $10223.30     | 0.07%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OLDHAM KY SCH DIST FIN CORP    | Oldham County School District Finance Corp                           | CUSIP: 680454YU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20276.06     | 0.15%             | 2026-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH REVENUE    | Indiana Finance Authority                                            | CUSIP: 45506DXC4<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |     50000 | PA      | $50487.26     | 0.36%             | 2026-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL  | Philadelphia Authority for Industrial Development                    | CUSIP: 71779QAJ1<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |     75000 | PA      | $75381.79     | 0.54%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PITTSBURGH PA SCH DIST         | Pittsburgh School District                                           | CUSIP: 725277NJ2<br>LEI: 549300DCE2NGMJO6P377 | Long             | DBT              | MUN               | US        |     55000 | PA      | $55000.00     | 0.40%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLEN CNTY OH HOSP FACS REVENU | County of Allen OH Hospital Facilities Revenue                       | CUSIP: 01757LFR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $46022.63     | 0.33%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORT OSAGE MO REORG SCH DIST # | Fort Osage School District No R-1                                    | CUSIP: 348199AY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $180074.16    | 1.30%             | 2027-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NASSAU CNTY NY SWR & STORM WTR | Nassau County Sewer & Storm Water Finance Authority                  | CUSIP: 63166QBZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $15005.80     | 0.11%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HGR EDU ASSISTAN | New Jersey Higher Education Student Assistance Authority             | CUSIP: 646080YZ8<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |    300000 | PA      | $303941.52    | 2.19%             | 2056-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| LANE CNTY OR SCH DIST #4J EUGE | Lane County School District No 4J Eugene                             | CUSIP: 515300RK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $24831.32     | 0.18%             | 2026-06-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CHAMPAIGN COLES ET AL CNTYS IL | Champaign Coles Et Al Counties Community College District No 505     | CUSIP: 158168HA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $71970.14     | 0.52%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DALLAS CNTY TX UTILITY & RECLA | Dallas County Utility & Reclamation District                         | CUSIP: 234839PJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101118.34    | 0.73%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRL BROWN CNTY WI WTR AUTHW | Central Brown County Water Authority                                 | CUSIP: 152708CR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30106.17     | 0.22%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DEDHAM MA                      | Town of Dedham MA                                                    | CUSIP: 243667N24<br>LEI: 549300T2RPE961NCRY75 | Long             | DBT              | MUN               | US        |     40000 | PA      | $40047.89     | 0.29%             | 2027-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH NY BRIDGE & TUNNEL  | Triborough Bridge & Tunnel Authority                                 | CUSIP: 89602RKC8<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |    150000 | PA      | $150000.00    | 1.08%             | 2032-01-01      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| PORTAGE MI PUBLIC SCHS         | Portage Public Schools                                               | CUSIP: 735779MU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $10173.84     | 0.07%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBIA HOSP REVE | District of Columbia                                                 | CUSIP: 254764JQ7<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |     55000 | PA      | $55456.66     | 0.40%             | 2026-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT OF PORTLAND OR ARPT REVEN | Port of Portland OR Airport Revenue                                  | CUSIP: 735240Z97<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $218147.14    | 1.58%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-21

**Name of Applicant:** Goldman Sachs ETF Trust

**Signature:** Peter Fortner

**Name of Signer:** Peter Fortner

**Title:** Vice President Assistant Treasurer