# EDGAR Filing Document

**Accession Number:** 0001469192
**File Stem:** 0002071691-25-008860
**Filing Date:** 2025-12
**Character Count:** 184138
**Document Hash:** 580947a096a8749ff9b7bb08cbfe4592
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-008860.hdr.sgml**: 20251222

**ACCESSION NUMBER**: 0002071691-25-008860

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251222

**DATE AS OF CHANGE**: 20251222

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NEW YORK LIFE INVESTMENTS FUNDS TRUST
- **CENTRAL INDEX KEY:** 0001469192

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22321
- **FILM NUMBER:** 251589839

**BUSINESS ADDRESS:**
- **STREET 1:** 51 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
- **BUSINESS PHONE:** 212 576 7000

**MAIL ADDRESS:**
- **STREET 1:** 51 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MAINSTAY FUNDS TRUST
- **DATE OF NAME CHANGE:** 20090728

## Series and Classes Contracts Data

### NYLI MacKay Short Term Muni Fund (Series ID: S000028538)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000087378 | Investor Class | MYTBX           |
| C000087379 | Class A        | MSTAX           |
| C000087380 | Class I        | MSTIX           |
| C000195140 | Class R6       | MSTEX           |
| C000222390 | Class A2       | MSTUX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** NEW YORK LIFE INVESTMENTS FUNDS TRUST

- **b. Investment Company Act file number:** 811-22321

- **c. CIK number of Registrant:** 0001469192

- **d. LEI of Registrant:** 549300SQRLBSUG7RD002

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

  - **Street Address 1:** 51 Madison Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10010

  - **Telephone number:** 212-576-7000

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

- **a. Name of Series:** NYLI MacKay Short Term Muni Fund

- **b. EDGAR series identifier (if any):** S000028538

- **c. LEI of Series:** 549300ZY6MAJ3210UG92

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

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

- **b. Date as of which information is reported:** 2025-10-31

**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:** $1148317463.56

**Total Liabilities:** $35630121.97

**Net Assets:** $1112687341.59

**Delayed Delivery Securities:** $17411337.30

**Cash Not Reported:** $1498664.43

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -2209.15000000 | **1-Year:** -64108.62000000 | **5-Year:** -149329.72000000 | **10-Year:** -24718.05000000 | **30-Year:** -1591.57000000

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

- **3-Month:** -533.94000000 | **1-Year:** -5264.28000000 | **5-Year:** -8779.22000000 | **10-Year:** -5700.53000000 | **30-Year:** -943.23000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000222390 | 0.59%                | 0.47%                | 0.16%                |
| Class ID C000087378 | 0.67%                | 0.44%                | 0.03%                |
| Class ID C000195140 | 0.72%                | 0.38%                | 0.18%                |
| Class ID C000087380 | 0.72%                | 0.49%                | 0.08%                |
| Class ID C000087379 | 0.59%                | 0.47%                | 0.05%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $215741.51               | $3750985.16                                |
| Month 2  | $622804.39               | $1374713.03                                |
| Month 3  | $684621.78               | $-2777870.34                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Michigan State Housing Development Authority                                    | Michigan State Housing Development Authority, Series A                          | CUSIP: 594654ZZ1<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   1775000 | PA      | $1785187.26   | 0.16%             | 2028-06-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| New Jersey Higher Education Student Assistance Authority                        | New Jersey Higher Education Student Assistance Authority, Series 1-B            | CUSIP: 646080YP0<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |   8000000 | PA      | $8394579.20   | 0.75%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                   | Main Street Natural Gas, Inc., Series A                                         | CUSIP: 56035DGT3<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   2205000 | PA      | $2385587.96   | 0.21%             | 2054-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Dayton Independent School District                                              | Dayton Independent School District                                              | CUSIP: 240091LF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3800000 | PA      | $3821825.68   | 0.34%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Iowa Student Loan Liquidity Corp.                                               | Iowa Student Loan Liquidity Corp., Series B                                     | CUSIP: 462590PP9<br>LEI: 549300FO1LWVSZKGJK70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1074435.80   | 0.10%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Deschutes County Administrative School District No. 1 Bend-La Pine              | Deschutes County Administrative School District No. 1 Bend-La Pine              | CUSIP: 250325TB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6017668.80   | 0.54%             | 2029-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Decatur Housing Authority                                                       | Decatur Housing Authority                                                       | CUSIP: 24311PAE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2150000 | PA      | $2168150.95   | 0.19%             | 2028-08-01      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| Virginia Housing Development Authority                                          | Virginia Housing Development Authority, Series F-1                              | CUSIP: 92812XHT2<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |    800000 | PA      | $804536.48    | 0.07%             | 2027-07-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| West Mifflin School District                                                    | West Mifflin School District                                                    | CUSIP: 954498SZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1019674.10   | 0.09%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                                       | New York Transportation Development Corp.                                       | CUSIP: 650116GG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4311827.20   | 0.39%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cumberland County Industrial Facilities & Pollution Control Financing Authority | Cumberland County Industrial Facilities & Pollution Control Financing Authority | CUSIP: 230589AB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11900000 | PA      | $11889504.20  | 1.07%             | 2027-12-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Peoria County Community Unit School District No. 323                            | Peoria County Community Unit School District No. 323                            | CUSIP: 713163KM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2825000 | PA      | $2813900.01   | 0.25%             | 2031-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Higher Education Student Loan Corp.                                    | Kentucky Higher Education Student Loan Corp., Series A-2                        | CUSIP: 49130NGT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1610000 | PA      | $1648492.52   | 0.15%             | 2029-06-01      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| State of Ohio                                                                   | State of Ohio                                                                   | CUSIP: 67759YAK3<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   1275000 | PA      | $1277346.00   | 0.11%             | 2028-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Housing & Mortgage Finance Agency                                    | New Jersey Housing & Mortgage Finance Agency, Series M                          | CUSIP: 64613AKX9<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |    370000 | PA      | $373798.72    | 0.03%             | 2029-10-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Utah State Building Ownership Authority                                         | Utah State Building Ownership Authority                                         | CUSIP: 917547YX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1770000 | PA      | $1757496.37   | 0.16%             | 2026-05-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| City of Chicago                                                                 | City of Chicago, Series A                                                       | CUSIP: 167486G45<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1043281.30   | 0.09%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Texas                                                                  | State of Texas                                                                  | CUSIP: 882724C47<br>LEI: 549300X9CH74QB747L76 | Long             | DBT              | MUN               | US        |   1975000 | PA      | $2043702.55   | 0.18%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp.                                           | Puerto Rico Sales Tax Financing Corp., Series A-1                               | CUSIP: 74529JQE8<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |     70000 | PA      | $57341.04     | 0.01%             | 2031-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                 | California Community Choice Financing Authority, Series B                       | CUSIP: 13013JEA0<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2125394.80   | 0.19%             | 2055-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan State Housing Development Authority                                    | Michigan State Housing Development Authority, Series A                          | CUSIP: 594654A47<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   1490000 | PA      | $1513466.31   | 0.14%             | 2029-12-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Virginia Public School Authority                                                | Virginia Public School Authority, Series B                                      | CUSIP: 92818HGX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1931922.20   | 0.17%             | 2029-08-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| New Palestine Community Schools                                                 | New Palestine Community Schools                                                 | CUSIP: 64782HAE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1130000 | PA      | $1145057.02   | 0.10%             | 2026-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indianapolis Local Public Improvement Bond Bank                                 | Indianapolis Local Public Improvement Bond Bank, Series B-2                     | CUSIP: 45528VFT1<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   3050000 | PA      | $3175997.03   | 0.29%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Government of Nashville & Davidson County                          | Metropolitan Government of Nashville & Davidson County                          | CUSIP: 592112RB4<br>LEI: 549300GW8FVQJ3DU6O10 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $979822.80    | 0.09%             | 2029-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| County of Pinal                                                                 | County of Pinal                                                                 | CUSIP: 72205RJK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $353526.67    | 0.03%             | 2028-08-01      | Fixed         | 4.31%                 | No            |                  2 | On Loan: No      |
| Village Community Development District No. 11                                   | Village Community Development District No. 11                                   | CUSIP: 92708EAE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $997596.30    | 0.09%             | 2029-05-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Hillsborough County Industrial Development Authority                            | Hillsborough County Industrial Development Authority, Series D                  | CUSIP: 43233KBB9<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |  10000000 | PA      | $10000000.00  | 0.90%             | 2054-11-15      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| State of Ohio                                                                   | State of Ohio, Series U                                                         | CUSIP: 677522RM8<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   2580000 | PA      | $2669810.83   | 0.24%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Westfield High School Building Corp.                                            | Westfield High School Building Corp., Series B                                  | CUSIP: 96009AER3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1010000 | PA      | $1063886.83   | 0.10%             | 2029-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Mortgage Finance Authority                                           | New Mexico Mortgage Finance Authority, Series C, Class I                        | CUSIP: 647201SJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    775000 | PA      | $780618.60    | 0.07%             | 2032-09-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Armstrong School District                                                       | Armstrong School District, Series A                                             | CUSIP: 042467MD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2070000 | PA      | $2173867.22   | 0.20%             | 2028-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                               | State of Illinois, Series 1                                                     | CUSIP: 452152BM2<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1807692 | PA      | $1928226.42   | 0.17%             | 2035-02-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| State of Texas                                                                  | State of Texas, Series A                                                        | CUSIP: 882724F69<br>LEI: 549300X9CH74QB747L76 | Long             | DBT              | MUN               | US        |   2360000 | PA      | $2505137.40   | 0.23%             | 2028-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Arlington County Industrial Development Authority                               | Arlington County Industrial Development Authority                               | CUSIP: 04144PDX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $996011.40    | 0.09%             | 2049-09-01      | Variable      | 2.95%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp.                                         | New York City Housing Development Corp., Series F-2                             | CUSIP: 64972KGU3<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005364.30   | 0.09%             | 2064-11-01      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                                   | Massachusetts Educational Financing Authority, Series A                         | CUSIP: 57563RUE7<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3042227.70   | 0.27%             | 2035-07-01      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| Dreyfus Government Cash Management                                              | Dreyfus Government Cash Management - Institutional Shares, Class I              | CUSIP: 262006208<br>LEI: 5493000Q69I5Q3QZIA91 | Long             | STIV             | RF                | US        |  17838837 | NS      | $17838837.23  | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Department of Housing & Community Affairs                                 | Texas Department of Housing & Community Affairs, Series B                       | CUSIP: 882750D90<br>LEI: 549300J3RRLLZZN4WP77 | Long             | DBT              | MUN               | US        |   1075000 | PA      | $1091349.46   | 0.10%             | 2029-01-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Clackamas County Service District No. 1                                         | Clackamas County Service District No. 1                                         | CUSIP: 179282FV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2900375.40   | 0.26%             | 2031-12-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| County of Washington                                                            | County of Washington, Series A                                                  | CUSIP: 937785VQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1395000 | PA      | $1294311.55   | 0.12%             | 2032-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Seymour Elementary School Building Corp.                                        | Seymour Elementary School Building Corp.                                        | CUSIP: 818605EJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $413349.04    | 0.04%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Texas Municipal Water District                                            | North Texas Municipal Water District Upper East Fork Wastewater Interceptor Sys | CUSIP: 662842SA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1930000 | PA      | $1914624.85   | 0.17%             | 2033-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| County of Campbell                                                              | County of Campbell                                                              | CUSIP: 134303TY2<br>LEI: 549300T61WDDRIWIM152 | Long             | DBT              | MUN               | US        |    985000 | PA      | $903970.95    | 0.08%             | 2031-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power                                         | Los Angeles Department of Water & Power, Series B                               | CUSIP: 544525W79<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1081628.00   | 0.10%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kenton County Airport Board                                                     | Kenton County Airport Board, Series A                                           | CUSIP: 491026VS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1193085.90   | 0.11%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                  | New Jersey Transportation Trust Fund Authority, Series A-1                      | CUSIP: 6461362B6<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |  11000000 | PA      | $11141287.30  | 1.00%             | 2027-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Fayette                                                               | County of Fayette                                                               | CUSIP: 312446AB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $650095.38    | 0.06%             | 2029-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| State of Ohio                                                                   | State of Ohio, Series E                                                         | CUSIP: 677561LA8<br>LEI: 5493005LEB5E170OMX59 | Long             | STIV             | MUN               | US        |  10000000 | PA      | $10000000.00  | 0.90%             | 2052-01-01      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                                | Pennsylvania Turnpike Commission, Series 1                                      | CUSIP: 709225RR9<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   5115000 | PA      | $5571228.33   | 0.50%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Onondaga Civic Development Corp.                                                | Onondaga Civic Development Corp.                                                | CUSIP: 682832KS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $767828.95    | 0.07%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tennessee Energy Acquisition Corp.                                              | Tennessee Energy Acquisition Corp.                                              | CUSIP: 880443JE7<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |   7650000 | PA      | $7650000.00   | 0.69%             | 2049-11-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Ohio                                                                   | State of Ohio, Series A                                                         | CUSIP: 677522R30<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   1275000 | PA      | $1284359.90   | 0.12%             | 2026-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                      | Chicago Board of Education, Series C                                            | CUSIP: 167505VT0<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031363.10   | 0.09%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of California                                                        | University of California, Series BG                                             | CUSIP: 91412HGG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2395000 | PA      | $2167031.93   | 0.19%             | 2030-05-15      | Fixed         | 1.61%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                            | Massachusetts Housing Finance Agency, Series 221                                | CUSIP: 57587GFN0<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $865748.30    | 0.08%             | 2033-12-01      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| Michigan State Housing Development Authority                                    | Michigan State Housing Development Authority, Series A                          | CUSIP: 594654A62<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   1110000 | PA      | $1126155.05   | 0.10%             | 2030-12-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| New Jersey Housing & Mortgage Finance Agency                                    | New Jersey Housing & Mortgage Finance Agency, Series B                          | CUSIP: 6461084N7<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1012837.00   | 0.09%             | 2029-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| New Memphis Arena Public Building Authority                                     | New Memphis Arena Public Building Authority                                     | CUSIP: 64704CAR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $984942.50    | 0.09%             | 2027-04-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Columbus Regional Airport Authority                                             | Columbus Regional Airport Authority, Series A                                   | CUSIP: 199546CL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2142683.80   | 0.19%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Clifton Higher Education Finance Corp.                                          | Clifton Higher Education Finance Corp.                                          | CUSIP: 187145WT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    305000 | PA      | $319939.60    | 0.03%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of New Jersey                                                             | State of New Jersey, Series A                                                   | CUSIP: 646039YK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5064063.00   | 0.46%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Petersburg Redevelopment & Housing Authority                                    | Petersburg Redevelopment & Housing Authority                                    | CUSIP: 716314AC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2530792.50   | 0.23%             | 2045-05-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Southern California Public Power Authority                                      | Southern California Public Power Authority, Series 1                            | CUSIP: 842469BP2<br>LEI: 5493003B5TD5FWUKMD34 | Long             | DBT              | MUN               | US        |    470000 | PA      | $497891.54    | 0.04%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arapahoe County School District No. 5                                           | Arapahoe County School District No. 5                                           | CUSIP: 164555EH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6400000 | PA      | $7028369.92   | 0.63%             | 2029-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Development Authority of Monroe County (The)                                    | Development Authority of Monroe County (The), Series 1                          | CUSIP: 610530FU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1590000 | PA      | $1554263.80   | 0.14%             | 2049-07-01      | Variable      | 1.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Pennsylvania                                                    | Commonwealth of Pennsylvania                                                    | CUSIP: 70914PL91<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5049438.50   | 0.45%             | 2029-03-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| City of Brownsville                                                             | City of Brownsville                                                             | CUSIP: 1164753V4<br>LEI: 549300ZLUVMJ8K0OEK50 | Long             | DBT              | MUN               | US        |   2220000 | PA      | $2411120.47   | 0.22%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Harris County Municipal Utility District No. 490                                | Harris County Municipal Utility District No. 490                                | CUSIP: 41430EHG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    830000 | PA      | $917496.86    | 0.08%             | 2029-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Shelby County Health Educational & Housing Facilities Board                     | Shelby County Health Educational & Housing Facilities Board, Series B           | CUSIP: 821691AC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2117460.40   | 0.19%             | 2049-09-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina State Education Assistance Authority                             | North Carolina State Education Assistance Authority, Series A                   | CUSIP: 658262GQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $785774.93    | 0.07%             | 2028-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Madison                                                                 | City of Madison, Series A                                                       | CUSIP: 55844RNL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6690000 | PA      | $6615578.43   | 0.59%             | 2026-10-01      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp.                            | New Hope Cultural Education Facilities Finance Corp.                            | CUSIP: 64542UGR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    345000 | PA      | $353113.99    | 0.03%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Atlanta Urban Residential Finance Authority                                     | Atlanta Urban Residential Finance Authority                                     | CUSIP: 04785VCD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1998623.40   | 0.18%             | 2029-05-01      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| Rhode Island Student Loan Authority                                             | Rhode Island Student Loan Authority, Series A                                   | CUSIP: 762315RH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1057449.60   | 0.10%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Village Community Development District No. 12                                   | Village Community Development District No. 12                                   | CUSIP: 92708FAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    480000 | PA      | $479461.30    | 0.04%             | 2026-05-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Peoria Tazewell Etc Counties Community College District No. 514                 | Peoria Tazewell Etc Counties Community College District No. 514, Series B       | CUSIP: 713244EW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2201406.60   | 0.20%             | 2028-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Village of Pingree Grove                                                        | Village of Pingree Grove                                                        | CUSIP: 72342NAD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1815000 | PA      | $1810185.89   | 0.16%             | 2029-03-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| St. Cloud Independent School District No. 742                                   | St. Cloud Independent School District No. 742, Series A                         | CUSIP: 789177SW3<br>LEI: 549300777B7XVMYHUU90 | Long             | DBT              | MUN               | US        |    630000 | PA      | $553214.47    | 0.05%             | 2030-02-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Inglewood Unified School District                                               | Inglewood Unified School District, Series B                                     | CUSIP: 457110NQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3046202.40   | 0.27%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                           | Pennsylvania Economic Development Financing Authority                           | CUSIP: 708692BC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8000000 | PA      | $7761345.60   | 0.70%             | 2033-12-01      | Variable      | 0.95%                 | No            |                  2 | On Loan: No      |
| City of Rockford                                                                | City of Rockford, Series B                                                      | CUSIP: 77316QC31<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    605000 | PA      | $614307.38    | 0.06%             | 2027-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Rhode Island Student Loan Authority                                             | Rhode Island Student Loan Authority, Series B                                   | CUSIP: 762323DG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1858880.45   | 0.17%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southern California Logistics Airport Authority                                 | Southern California Logistics Airport Authority, Series A                       | CUSIP: 842472EC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    440000 | PA      | $500376.18    | 0.04%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STC Metropolitan District No. 2                                                 | STC Metropolitan District No. 2, Series A-1                                     | CUSIP: 85780TAN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1589089.50   | 0.14%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado Bridge Enterprise                                                      | Colorado Bridge Enterprise                                                      | CUSIP: 19633SAK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4475000 | PA      | $4503780.96   | 0.40%             | 2027-06-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Dallas                                                                  | City of Dallas, Series B                                                        | CUSIP: 235219XD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7043406.30   | 0.63%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| West Virginia Economic Development Authority                                    | West Virginia Economic Development Authority, Series A                          | CUSIP: 95648VBY4<br>LEI: 549300WW88TKKF5H1220 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3019908.00   | 0.27%             | 2041-01-01      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development Bank                           | California Infrastructure & Economic Development Bank, Series B-2               | CUSIP: 13034AV49<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |   5500000 | PA      | $5505554.45   | 0.49%             | 2047-10-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                     | Washington State Housing Finance Commission, Series 1N                          | CUSIP: 93978TV55<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1150035.64   | 0.10%             | 2032-12-01      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| Richland-Bean Blossom 2000 School Building Corp.                                | Richland-Bean Blossom 2000 School Building Corp.                                | CUSIP: 763499DH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1060000 | PA      | $1102808.42   | 0.10%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Utah Infrastructure Agency                                                      | Utah Infrastructure Agency                                                      | CUSIP: 917467BA9<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |   1265000 | PA      | $1281864.73   | 0.12%             | 2026-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Jefferson Sales Tax District                                                    | Jefferson Sales Tax District, Series A                                          | CUSIP: 474176KU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1537221.90   | 0.14%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tennessee Housing Development Agency                                            | Tennessee Housing Development Agency, Series 1-C                                | CUSIP: 880461GC6<br>LEI: 25490004PSQYQLFJGI76 | Long             | DBT              | MUN               | US        |   1195000 | PA      | $1195117.59   | 0.11%             | 2029-01-01      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| State of Mississippi                                                            | State of Mississippi, Series C                                                  | CUSIP: 6055806V6<br>LEI: 549300JRWW5RFQUB7P94 | Long             | DBT              | MUN               | US        |   1745000 | PA      | $1752555.33   | 0.16%             | 2027-10-01      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Greater Asheville Regional Airport Authority                                    | Greater Asheville Regional Airport Authority                                    | CUSIP: 39160CAW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1165000 | PA      | $1241213.83   | 0.11%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Saratoga Union School District                                                  | Saratoga Union School District                                                  | CUSIP: 803469DU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6500000 | PA      | $6369625.60   | 0.57%             | 2026-09-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Arizona Health Facilities Authority                                             | Arizona Health Facilities Authority, Series B                                   | CUSIP: 040507QQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2399985.84   | 0.22%             | 2046-01-01      | Floating      | 3.47%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                 | California Community Choice Financing Authority, Series D                       | CUSIP: 13013JFD3<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3283398.60   | 0.30%             | 2055-02-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Seattle Housing Authority                                                       | Seattle Housing Authority                                                       | CUSIP: 812636ML9<br>LEI: 5493003LM6XXXMFX5M88 | Long             | DBT              | MUN               | US        |    895000 | PA      | $879443.20    | 0.08%             | 2026-06-01      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                  | Black Belt Energy Gas District, Series C-1                                      | CUSIP: 09182TBY2<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    880000 | PA      | $881096.66    | 0.08%             | 2025-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| North East Texas Regional Mobility Authority                                    | North East Texas Regional Mobility Authority, Series A                          | CUSIP: 659231BG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    545000 | PA      | $568677.85    | 0.05%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                               | Southeast Energy Authority A Cooperative District, Series A-1                   | CUSIP: 84136FBL0<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10841503.00  | 0.97%             | 2053-01-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Gloucester County Economic Development Authority                                | Gloucester County Economic Development Authority, Series A                      | CUSIP: 37970RAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4044315.20   | 0.36%             | 2038-09-01      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Housing & Mortgage Finance Agency                                    | New Jersey Housing & Mortgage Finance Agency, Series M                          | CUSIP: 64613ALC4<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |   1875000 | PA      | $1920960.00   | 0.17%             | 2032-04-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| City of Country Club Hills                                                      | City of Country Club Hills                                                      | CUSIP: 222345HS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1230000 | PA      | $1230406.76   | 0.11%             | 2025-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Park Creek Metropolitan District                                                | Park Creek Metropolitan District                                                | CUSIP: 700385BR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1087177.40   | 0.10%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                               | State of Illinois, Series C                                                     | CUSIP: 452152P21<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   5920000 | PA      | $6145501.09   | 0.55%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Upper Illinois River Valley Development Authority                               | Upper Illinois River Valley Development Authority                               | CUSIP: 91588TBC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100073.82    | 0.01%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Housing & Mortgage Finance Agency                                    | New Jersey Housing & Mortgage Finance Agency, Series M                          | CUSIP: 64613ALF7<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |    675000 | PA      | $702450.02    | 0.06%             | 2033-10-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| State of Washington                                                             | State of Washington, Series F                                                   | CUSIP: 93974AUF9<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   5720000 | PA      | $5556003.02   | 0.50%             | 2026-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                            | Colorado Health Facilities Authority, Series A                                  | CUSIP: 19648FB52<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |  10750000 | PA      | $11529419.08  | 1.04%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Energy Southeast A Cooperative District                                         | Energy Southeast A Cooperative District, Series A-1                             | CUSIP: 292723AK9<br>LEI: 2549001SMMZ81MXBXZ89 | Long             | DBT              | MUN               | US        |   1510000 | PA      | $1666601.19   | 0.15%             | 2053-11-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Brownsville                                                             | City of Brownsville                                                             | CUSIP: 1164753W2<br>LEI: 549300ZLUVMJ8K0OEK50 | Long             | DBT              | MUN               | US        |   2845000 | PA      | $3138545.11   | 0.28%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Energy Research & Development Authority                          | New York State Energy Research & Development Authority, Series A                | CUSIP: 64985VBF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4015046.80   | 0.36%             | 2027-04-01      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| Midland County Fresh Water Supply District No. 1                                | Midland County Fresh Water Supply District No. 1, Series A                      | CUSIP: 597495AV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $375020.45    | 0.03%             | 2032-09-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                               | Southeast Energy Authority A Cooperative District, Series B                     | CUSIP: 84136HBT9<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2694201.25   | 0.24%             | 2055-03-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Oregon School Boards Association                                                | Oregon School Boards Association, Series B                                      | CUSIP: 686053CT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1797840 | PA      | $1837850.32   | 0.17%             | 2028-06-30      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| State of New Jersey                                                             | State of New Jersey                                                             | CUSIP: 646039ZB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $945614.50    | 0.08%             | 2030-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                   | Main Street Natural Gas, Inc., Series B                                         | CUSIP: 56035DHK1<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   3145000 | PA      | $3423119.27   | 0.31%             | 2054-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                        | Massachusetts Development Finance Agency, Series N                              | CUSIP: 57585BNN4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   4825000 | PA      | $5399817.21   | 0.49%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Washington                                                            | County of Washington, Series A                                                  | CUSIP: 937785UX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3908074.80   | 0.35%             | 2028-02-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Clark County School District                                                    | Clark County School District, Series A                                          | CUSIP: 1810595T9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6295000 | PA      | $6523524.24   | 0.59%             | 2027-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                            | Pennsylvania Higher Educational Facilities Authority, Series D-2                | CUSIP: 70917TSU6<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |  10000000 | PA      | $10000000.00  | 0.90%             | 2061-11-01      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| Virginia Housing Development Authority                                          | Virginia Housing Development Authority, Series A                                | CUSIP: 92812WNB6<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |   2060000 | PA      | $2062418.65   | 0.19%             | 2029-03-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Indianapolis Local Public Improvement Bond Bank                                 | Indianapolis Local Public Improvement Bond Bank, Series D                       | CUSIP: 45528UD65<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   2495000 | PA      | $2502885.70   | 0.22%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia Housing Finance Agency                                     | District of Columbia Housing Finance Agency                                     | CUSIP: 25477PQA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2620000 | PA      | $2647122.24   | 0.24%             | 2028-07-01      | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |
| Fort Bend County Municipal Utility District No. 134B                            | Fort Bend County Municipal Utility District No. 134B                            | CUSIP: 34683LRD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    390000 | PA      | $407488.50    | 0.04%             | 2027-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Adams & Arapahoe Joint School District 28J Aurora                               | Adams & Arapahoe Joint School District 28J                                      | CUSIP: 0054824G6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031496.20   | 0.09%             | 2026-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Seymour Elementary School Building Corp.                                        | Seymour Elementary School Building Corp.                                        | CUSIP: 818605EH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $598683.79    | 0.05%             | 2027-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southern California Public Power Authority                                      | Southern California Public Power Authority, Series A                            | CUSIP: 84247PNK3<br>LEI: 5493003B5TD5FWUKMD34 | Long             | DBT              | MUN               | US        |   4225000 | PA      | $4654547.30   | 0.42%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                       | Indiana Finance Authority, Series C                                             | CUSIP: 45470CAF6<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2323505.28   | 0.21%             | 2030-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| City of New York                                                                | City of New York, Series H                                                      | CUSIP: 64966SMV5<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2162213.13   | 0.19%             | 2029-02-01      | Fixed         | 4.82%                 | No            |                  2 | On Loan: No      |
| Montana Facility Finance Authority                                              | Montana Facility Finance Authority, Series B                                    | CUSIP: 612043KR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1270000 | PA      | $1324788.44   | 0.12%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Montgomery County Municipal Utility District No. 138                            | Montgomery County Municipal Utility District No. 138                            | CUSIP: 61371EFD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1580000 | PA      | $1717301.05   | 0.15%             | 2030-09-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| County of Pasco                                                                 | County of Pasco, Series A                                                       | CUSIP: 70252AAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2083741.80   | 0.19%             | 2027-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Town of Trophy Club Public Improvement District No. 1                           | Town of Trophy Club                                                             | CUSIP: 89706PAW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $529356.25    | 0.05%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                       | Indiana Finance Authority, Series A                                             | CUSIP: 45470CAG4<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1645000 | PA      | $1683281.62   | 0.15%             | 2030-11-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Kane & DeKalb Counties Community Unit School District No. 302                   | Kane & DeKalb Counties Community Unit School District No. 302, Series B         | CUSIP: 483782KM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $1961629.78   | 0.18%             | 2029-02-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Rhode Island Student Loan Authority                                             | Rhode Island Student Loan Authority, Series B                                   | CUSIP: 762323DJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1078721.80   | 0.10%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North East Texas Regional Mobility Authority                                    | North East Texas Regional Mobility Authority, Series A                          | CUSIP: 659231BH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $850157.44    | 0.08%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                       | Indiana Finance Authority, Series B                                             | CUSIP: 45505RBP9<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   3245000 | PA      | $3243893.78   | 0.29%             | 2028-05-01      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| New Jersey Housing & Mortgage Finance Agency                                    | New Jersey Housing & Mortgage Finance Agency, Series M                          | CUSIP: 64613ALD2<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |   2465000 | PA      | $2533463.65   | 0.23%             | 2032-10-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| City of Madison                                                                 | City of Madison, Series A                                                       | CUSIP: 55844RNM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6690000 | PA      | $6511436.54   | 0.59%             | 2027-10-01      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| Town of Sandwich                                                                | Town of Sandwich                                                                | CUSIP: 800239TX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    835000 | PA      | $738962.31    | 0.07%             | 2033-09-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Ohio Turnpike & Infrastructure Commission                                       | Ohio Turnpike & Infrastructure Commission, Series A                             | CUSIP: 67760HNN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2011658.60   | 0.18%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lifespan Corp.                                                                  | Lifespan Corp., Series 2025                                                     | CUSIP: 53229UAA5<br>LEI: I9TGZUV477HZIKUP0045 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5050299.95   | 0.45%             | 2030-02-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                                     | Virginia Small Business Financing Authority                                     | CUSIP: 92810RAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2500677.25   | 0.22%             | 2052-11-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Iowa Student Loan Liquidity Corp.                                               | Iowa Student Loan Liquidity Corp., Series B                                     | CUSIP: 462590PC8<br>LEI: 549300FO1LWVSZKGJK70 | Long             | DBT              | MUN               | US        |    565000 | PA      | $591012.15    | 0.05%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                                | Pennsylvania Turnpike Commission, Series 1                                      | CUSIP: 709225RQ1<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |  18245000 | PA      | $19674875.25  | 1.77%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arizona Health Facilities Authority                                             | Arizona Health Facilities Authority, Series B                                   | CUSIP: 040507QS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $599990.64    | 0.05%             | 2046-01-01      | Floating      | 3.14%                 | No            |                  2 | On Loan: No      |
| Alabama Community College System                                                | Alabama Community College System                                                | CUSIP: 01025PFW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $509190.25    | 0.05%             | 2027-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California State Public Works Board                                             | California State Public Works Board, Series C                                   | CUSIP: 13068XQV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2640000 | PA      | $2835022.61   | 0.25%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Economic Development Finance Authority                                 | Kentucky Economic Development Finance Authority, Series A                       | CUSIP: 49126PET3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4245000 | PA      | $4249447.06   | 0.38%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Chicago                                                                 | City of Chicago, Series B                                                       | CUSIP: 167486ZR3<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1406674.50   | 0.13%             | 2033-01-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| State of Connecticut                                                            | State of Connecticut, Series A                                                  | CUSIP: 20772KLQ0<br>LEI: 549300PHW5BZHA7BEX81 | Long             | DBT              | MUN               | US        |   2260000 | PA      | $2260237.53   | 0.20%             | 2026-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Harris County Municipal Utility District No. 490                                | Harris County Municipal Utility District No. 490                                | CUSIP: 41430ECG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1170000 | PA      | $1288692.17   | 0.12%             | 2029-09-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp.                                         | New York City Housing Development Corp., Class A                                | CUSIP: 64966TGS7<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |  15525000 | PA      | $15905474.28  | 1.43%             | 2031-12-15      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| Indiana Housing & Community Development Authority                               | Indiana Housing & Community Development Authority, Series B-2                   | CUSIP: 45505WCB8<br>LEI: 549300QRKDYVNHT1OE86 | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1139690.50   | 0.10%             | 2027-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                            | District of Columbia                                                            | CUSIP: 254840DR9<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1090000 | PA      | $1091809.18   | 0.10%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority                                      | Metropolitan Washington Airports Authority, Series A                            | CUSIP: 592647NL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1735000 | PA      | $1865545.39   | 0.17%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power                                         | Los Angeles Department of Water & Power, Series C                               | CUSIP: 544532QE7<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   8000000 | PA      | $8730795.20   | 0.78%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Wake                                                                  | County of Wake, Series C                                                        | CUSIP: 930864LG6<br>LEI: 5493007XQJHO082P1H29 | Long             | DBT              | MUN               | US        |   4575000 | PA      | $5331261.68   | 0.48%             | 2033-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southern California Logistics Airport Authority                                 | Southern California Logistics Airport Authority, Series A                       | CUSIP: 842472EB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $698938.63    | 0.06%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts/Certificates                                  | Tender Option Bond Trust Receipts                                               | CUSIP: 88035PA32<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1500000.00   | 0.13%             | 2050-06-15      | Variable      | 3.93%                 | Yes           |                  2 | On Loan: No      |
| New York Liberty Development Corp.                                              | New York Liberty Development Corp., Series A                                    | CUSIP: 649519DM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1270000 | PA      | $1146700.65   | 0.10%             | 2030-11-15      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                      | Illinois Finance Authority, Series B                                            | CUSIP: 45204FHM0<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1120160.81   | 0.10%             | 2042-05-01      | Floating      | 3.92%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                                       | New York Transportation Development Corp.                                       | CUSIP: 650116GK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5103159.00   | 0.46%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                               | State of Illinois                                                               | CUSIP: 452152D81<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1700752.08   | 0.15%             | 2031-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| State of Oregon                                                                 | State of Oregon, Series B                                                       | CUSIP: 68609UNJ0<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |   1145000 | PA      | $1192192.89   | 0.11%             | 2031-05-01      | Fixed         | 4.79%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp.                                         | New York City Housing Development Corp., Class B                                | CUSIP: 64966TGT5<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   3600000 | PA      | $3719223.00   | 0.33%             | 2031-12-15      | Fixed         | 6.03%                 | No            |                  2 | On Loan: No      |
| State of Oregon                                                                 | State of Oregon, Series B                                                       | CUSIP: 68609UNK7<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1570046.25   | 0.14%             | 2032-05-01      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| New Jersey Housing & Mortgage Finance Agency                                    | New Jersey Housing & Mortgage Finance Agency, Series M                          | CUSIP: 64613ALE0<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |    550000 | PA      | $567091.31    | 0.05%             | 2033-04-01      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| New Palestine Community Schools                                                 | New Palestine Community Schools                                                 | CUSIP: 64782HAF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    590000 | PA      | $604076.34    | 0.05%             | 2027-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Galveston                                                               | City of Galveston, Series A                                                     | CUSIP: 364568JP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $753747.05    | 0.07%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                               | State of Illinois, Series D                                                     | CUSIP: 452152Q46<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   5100000 | PA      | $5100000.00   | 0.46%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Clint Independent School District                                               | Clint Independent School District                                               | CUSIP: 187270K93<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1365000 | PA      | $1473783.40   | 0.13%             | 2029-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Housing & Community Development Authority                               | Indiana Housing & Community Development Authority, Series A                     | CUSIP: 45506CBV8<br>LEI: 549300QRKDYVNHT1OE86 | Long             | DBT              | MUN               | US        |    250000 | PA      | $248141.45    | 0.02%             | 2029-03-01      | Variable      | 2.90%                 | No            |                  2 | On Loan: No      |
| Weber School District                                                           | Weber School District                                                           | CUSIP: 94766PJX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1670000 | PA      | $1558155.09   | 0.14%             | 2032-06-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| State of Hawaii Airports System                                                 | State of Hawaii Airports System, Series A                                       | CUSIP: 419794ZR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1054332.20   | 0.09%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Forsyth                                                                 | City of Forsyth                                                                 | CUSIP: 346668DN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3060000 | PA      | $3108960.92   | 0.28%             | 2028-07-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| City of Decatur                                                                 | City of Decatur, Series A                                                       | CUSIP: 242811W29<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1900000 | PA      | $1874221.75   | 0.17%             | 2026-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Texas Public Finance Authority                                                  | Texas Public Finance Authority                                                  | CUSIP: 88277PAM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $504110.25    | 0.05%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Higher Education Student Loan Corp.                                    | Kentucky Higher Education Student Loan Corp., Series A-2                        | CUSIP: 49130NGS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $508420.45    | 0.05%             | 2028-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Higher Education Student Assistance Authority                        | New Jersey Higher Education Student Assistance Authority, Series 1-B            | CUSIP: 646080YR6<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |   9375000 | PA      | $9958288.13   | 0.89%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southern California Logistics Airport Authority                                 | Southern California Logistics Airport Authority, Series A                       | CUSIP: 842472ED0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $345729.45    | 0.03%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Housing Development Authority                                          | Virginia Housing Development Authority, Series F-1                              | CUSIP: 92812XHS4<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |    310000 | PA      | $311077.44    | 0.03%             | 2027-01-01      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Gunnison County Housing Authority                                               | Gunnison County Housing Authority                                               | CUSIP: 402884AC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    775000 | PA      | $830808.22    | 0.07%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                       | Indiana Finance Authority, Series A                                             | CUSIP: 455059AH8<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1975180.60   | 0.18%             | 2038-12-01      | Variable      | 0.75%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power                                         | Los Angeles Department of Water & Power, Series B                               | CUSIP: 544532PY4<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1707585.40   | 0.15%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Village of Pingree Grove                                                        | Village of Pingree Grove                                                        | CUSIP: 72342NAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2175000 | PA      | $2168938.71   | 0.19%             | 2028-03-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| City of South Miami Health Facilities Authority, Inc.                           | City of South Miami Health Facilities Authority, Inc., Series B                 | CUSIP: 838810EM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3826987.15   | 0.34%             | 2065-08-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Atlanta Department of Aviation                                          | City of Atlanta, Series B                                                       | CUSIP: 04780MXG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2185000 | PA      | $2255403.54   | 0.20%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                  | Black Belt Energy Gas District, Series B                                        | CUSIP: 09182TBD8<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   7195000 | PA      | $7102666.57   | 0.64%             | 2053-04-01      | Floating      | 3.87%                 | No            |                  2 | On Loan: No      |
| Springboro Community City School District                                       | Springboro Community City School District                                       | CUSIP: 85022KDY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2003524.80   | 0.18%             | 2025-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Kansas City Municipal Assistance Corp.                                          | Kansas City Municipal Assistance Corp., Series B-1                              | CUSIP: 485052RL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1969282.20   | 0.18%             | 2026-04-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| County of Suffolk                                                               | County of Suffolk, Series B                                                     | CUSIP: 86476PVR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3500590.10   | 0.31%             | 2026-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| City of Detroit                                                                 | City of Detroit, Series D                                                       | CUSIP: 251237W66<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  13500000 | PA      | $13378016.70  | 1.20%             | 2032-07-01      | Floating      | 3.45%                 | No            |                  2 | On Loan: No      |
| Peoria Tazewell Etc Counties Community College District No. 514                 | Peoria Tazewell Etc Counties Community College District No. 514, Series B       | CUSIP: 713244EX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    775000 | PA      | $877785.62    | 0.08%             | 2029-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                  | Black Belt Energy Gas District, Series C-1                                      | CUSIP: 09182TAM9<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1445000 | PA      | $1455109.65   | 0.13%             | 2052-10-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Florida Housing Finance Corp.                                                   | Florida Housing Finance Corp., Series D                                         | CUSIP: 34073JVF3<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $998944.70    | 0.09%             | 2043-03-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                               | State of Illinois, Series B                                                     | CUSIP: 4521526T3<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    800000 | PA      | $861155.92    | 0.08%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                              | New York State Dormitory Authority, Series C                                    | CUSIP: 64990FD84<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   4525000 | PA      | $4268100.82   | 0.38%             | 2029-03-15      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                          | California Municipal Finance Authority, Series B                                | CUSIP: 13048VLM8<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1590000 | PA      | $1539753.62   | 0.14%             | 2027-10-01      | Fixed         | 2.33%                 | No            |                  2 | On Loan: No      |
| PMA Levy & Aid Anticipation Notes Program                                       | PMA Levy & Aid Anticipation Notes Program, Series A                             | CUSIP: 730146DK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1017395.60   | 0.09%             | 2026-08-27      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Burbank-Glendale-Pasadena Airport Authority Brick Campaign                      | Burbank-Glendale-Pasadena Airport Authority Brick Campaign, Series B            | CUSIP: 120827DP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3583347.30   | 0.32%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas Department of Housing & Community Affairs                                 | Texas Department of Housing & Community Affairs, Series B                       | CUSIP: 882750E24<br>LEI: 549300J3RRLLZZN4WP77 | Long             | DBT              | MUN               | US        |    995000 | PA      | $1013521.83   | 0.09%             | 2029-07-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Tennessee Housing Development Agency                                            | Tennessee Housing Development Agency, Series 1-C                                | CUSIP: 880461GD4<br>LEI: 25490004PSQYQLFJGI76 | Long             | DBT              | MUN               | US        |   2235000 | PA      | $2235580.88   | 0.20%             | 2029-07-01      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Inglewood Unified School District                                               | Inglewood Unified School District, Series B                                     | CUSIP: 457110NW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1255308.56   | 0.11%             | 2032-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Denton Independent School District                                              | Denton Independent School District                                              | CUSIP: 249002EE2<br>LEI: 5493005I9W678SUI0Z07 | Long             | DBT              | MUN               | US        |   5950000 | PA      | $5951309.00   | 0.53%             | 2028-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Village of Pingree Grove                                                        | Village of Pingree Grove                                                        | CUSIP: 72342NAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $998892.40    | 0.09%             | 2026-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Houston County Health Care Authority                                            | Houston County Health Care Authority, Series A                                  | CUSIP: 441878BV6<br>LEI: 549300I8OJ0JNPDR4L55 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2008558.60   | 0.18%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                               | State of Illinois, Series A                                                     | CUSIP: 452153AH2<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   3745000 | PA      | $3992310.81   | 0.36%             | 2029-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Diego County Regional Airport Authority                                     | San Diego County Regional Airport Authority, Series B                           | CUSIP: 79739GQU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1881441.80   | 0.17%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Minneapolis                                                             | City of Minneapolis                                                             | CUSIP: 60375BKJ4<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   5500000 | PA      | $5504814.70   | 0.49%             | 2025-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Village of Pingree Grove                                                        | Village of Pingree Grove                                                        | CUSIP: 72342NAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    790000 | PA      | $788401.59    | 0.07%             | 2027-03-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| County of King                                                                  | County of King, Series A                                                        | CUSIP: 495290EF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $9907258.00   | 0.89%             | 2040-01-01      | Floating      | 3.45%                 | No            |                  2 | On Loan: No      |
| Center Grove Community School Corp.                                             | Center Grove Community School Corp.                                             | CUSIP: 151469FW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $555159.39    | 0.05%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Enlarged City School District of the City of Troy                               | Enlarged City School District of the City of Troy                               | CUSIP: 293359FA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1170000 | PA      | $1028699.22   | 0.09%             | 2033-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                       | Indiana Finance Authority, Series B                                             | CUSIP: 45506EDH3<br>LEI: 549300PS0PAS7NDSSI20 | Long             | STIV             | MUN               | US        |   1680000 | PA      | $1667048.54   | 0.15%             | 2039-03-01      | Floating      | 3.52%                 | No            |                  2 | On Loan: No      |
| Indianapolis Local Public Improvement Bond Bank                                 | Indianapolis Local Public Improvement Bond Bank, Series B-2                     | CUSIP: 45528VFU8<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |  10455000 | PA      | $11087744.96  | 1.00%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority Aviation                             | Metropolitan Washington Airports Authority Aviation, Series A                   | CUSIP: 592647FZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1020000 | PA      | $1080662.87   | 0.10%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                  | Black Belt Energy Gas District, Series F                                        | CUSIP: 09182TBT3<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10571501.00  | 0.95%             | 2053-11-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| State of Alabama Docks Department                                               | State of Alabama Docks Department, Series A                                     | CUSIP: 010604BZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1289899.50   | 0.12%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Salt Lake City                                                          | City of Salt Lake City, Series A                                                | CUSIP: 795576GZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2103330.60   | 0.19%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| La Salle & Bureau Counties Township High School District No. 120                | La Salle & Bureau Counties Township High School District No. 120                | CUSIP: 504480GV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1960000 | PA      | $2206394.15   | 0.20%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southern California Public Power Authority                                      | Southern California Public Power Authority, Series 1                            | CUSIP: 842469AD0<br>LEI: 5493003B5TD5FWUKMD34 | Long             | DBT              | MUN               | US        |   3260000 | PA      | $3453460.46   | 0.31%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cleveland Municipal School District                                             | Cleveland Municipal School District                                             | CUSIP: 186392EL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1101701.70   | 0.10%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southern California Public Power Authority                                      | Southern California Public Power Authority, Series 1                            | CUSIP: 84247PMT5<br>LEI: 5493003B5TD5FWUKMD34 | Long             | DBT              | MUN               | US        |   1220000 | PA      | $1319586.16   | 0.12%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Harris County Municipal Utility District No. 489                                | Harris County Municipal Utility District No. 489                                | CUSIP: 41423LKQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    980000 | PA      | $1003935.81   | 0.09%             | 2026-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Arapahoe County School District No. 5                                           | Arapahoe County School District No. 5                                           | CUSIP: 164555EG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11000000 | PA      | $11819489.00  | 1.06%             | 2028-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kirkwood Community College                                                      | Kirkwood Community College                                                      | CUSIP: 497592KF1<br>LEI: 549300XT367WU6S5AE66 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500074.45    | 0.04%             | 2032-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| San Diego County Regional Airport Authority                                     | San Diego County Regional Airport Authority, Series B                           | CUSIP: 79739GQT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1581892.80   | 0.14%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power                                         | Los Angeles Department of Water & Power, Series A                               | CUSIP: 544532AW4<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    430000 | PA      | $464787.60    | 0.04%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Alameda Corridor Transportation Authority                                       | Alameda Corridor Transportation Authority, Series B                             | CUSIP: 010869HV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4137723.90   | 0.37%             | 2027-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Oppenheim-Ephratah-St. Johnsville Central School District                       | Oppenheim-Ephratah-St. Johnsville Central School District                       | CUSIP: 683781AQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    785000 | PA      | $681505.99    | 0.06%             | 2033-06-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| County of Salt Lake                                                             | County of Salt Lake, Series B                                                   | CUSIP: 795676UQ6<br>LEI: 5493006VYRFL1AI6GT29 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1996689.00   | 0.18%             | 2025-12-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Central Texas Regional Mobility Authority                                       | Central Texas Regional Mobility Authority, Series C                             | CUSIP: 155498LY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    855000 | PA      | $857336.80    | 0.08%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Territory of Guam                                                               | Territory of Guam, Series F                                                     | CUSIP: 40065NCM7<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |   1000000 | PA      | $1052172.50   | 0.09%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Iowa Finance Authority                                                          | Iowa Finance Authority                                                          | CUSIP: 46246YAB8<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |    830000 | PA      | $828144.78    | 0.07%             | 2042-01-01      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| North Dakota Housing Finance Agency                                             | North Dakota Housing Finance Agency, Series D                                   | CUSIP: 65889BAM6<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |   1015000 | PA      | $1139717.11   | 0.10%             | 2031-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| County of Washington                                                            | County of Washington, Series A                                                  | CUSIP: 937785UJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    205000 | PA      | $201870.47    | 0.02%             | 2027-02-01      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| Duluth Independent School District No. 709                                      | Duluth Independent School District No. 709, Series C                            | CUSIP: 264471LK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1529020.50   | 0.14%             | 2030-02-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Texas Department of Housing & Community Affairs                                 | Texas Department of Housing & Community Affairs, Series B                       | CUSIP: 882750D74<br>LEI: 549300J3RRLLZZN4WP77 | Long             | DBT              | MUN               | US        |    625000 | PA      | $630816.81    | 0.06%             | 2028-01-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Harris County Municipal Utility District No. 489                                | Harris County Municipal Utility District No. 489                                | CUSIP: 41423LGT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1140325.94   | 0.10%             | 2032-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                                     | Virginia Small Business Financing Authority                                     | CUSIP: 928104QR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1030981.80   | 0.09%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Anaheim Public Financing Authority                                              | Anaheim Public Financing Authority, Series A                                    | CUSIP: 03255LKB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1100155.27   | 0.10%             | 2027-07-01      | Fixed         | 2.09%                 | No            |                  2 | On Loan: No      |
| New Jersey Housing & Mortgage Finance Agency                                    | New Jersey Housing & Mortgage Finance Agency, Series M                          | CUSIP: 64613AKZ4<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |    350000 | PA      | $354640.09    | 0.03%             | 2030-10-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Greater Asheville Regional Airport Authority                                    | Greater Asheville Regional Airport Authority                                    | CUSIP: 39160CAX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1188762.30   | 0.11%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Park Creek Metropolitan District                                                | Park Creek Metropolitan District                                                | CUSIP: 700385BQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1066841.00   | 0.10%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greater Asheville Regional Airport Authority                                    | Greater Asheville Regional Airport Authority                                    | CUSIP: 39160CAV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1047782.30   | 0.09%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cleveland Municipal School District                                             | Cleveland Municipal School District                                             | CUSIP: 186392EM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1330442.75   | 0.12%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Energy Research & Development Authority                          | New York State Energy Research & Development Authority, Series A                | CUSIP: 64985VBH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009845.50   | 0.09%             | 2029-04-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Port of Corpus Christi Authority of Nueces County                               | Port of Corpus Christi Authority of Nueces County                               | CUSIP: 733911BS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2999876.70   | 0.27%             | 2026-12-01      | Fixed         | 3.74%                 | No            |                  2 | On Loan: No      |
| Arizona Health Facilities Authority                                             | Arizona Health Facilities Authority, Series B                                   | CUSIP: 040507QT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12000000 | PA      | $11922763.20  | 1.07%             | 2046-01-01      | Floating      | 3.47%                 | No            |                  2 | On Loan: No      |
| Greater Orlando Aviation Authority                                              | Greater Orlando Aviation Authority, Series A                                    | CUSIP: 392274Y83<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |   4225000 | PA      | $4301772.48   | 0.39%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Harris County Municipal Utility District No. 171                                | Harris County Municipal Utility District No. 171                                | CUSIP: 41423THK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    930000 | PA      | $966637.16    | 0.09%             | 2026-12-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| North Carolina State Education Assistance Authority                             | North Carolina State Education Assistance Authority, Series A                   | CUSIP: 658262GR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1384106.62   | 0.12%             | 2029-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New York State Energy Research & Development Authority                          | New York State Energy Research & Development Authority, Series D                | CUSIP: 649845HD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7285000 | PA      | $7260199.67   | 0.65%             | 2029-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                       | New Jersey Economic Development Authority, Series A                             | CUSIP: 645780FL6<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3292451.75   | 0.30%             | 2039-10-01      | Variable      | 2.20%                 | No            |                  2 | On Loan: No      |
| Richland-Bean Blossom 2000 School Building Corp.                                | Richland-Bean Blossom 2000 School Building Corp.                                | CUSIP: 763499DG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1015000 | PA      | $1045997.39   | 0.09%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cambridge-Isanti Independent School District No. 911                            | Cambridge-Isanti Independent School District No. 911, Series A                  | CUSIP: 132375QP4<br>LEI: 549300B4LWDC971OLG20 | Long             | DBT              | MUN               | US        |    770000 | PA      | $678057.23    | 0.06%             | 2033-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Town of Trophy Club Public Improvement District No. 1                           | Town of Trophy Club                                                             | CUSIP: 89706PAV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $512598.75    | 0.05%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                   | Main Street Natural Gas, Inc., Series A                                         | CUSIP: 56035DDH2<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   7490000 | PA      | $7597574.38   | 0.68%             | 2052-07-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Matagorda County Navigation District No. 1                                      | Matagorda County Navigation District No. 1, Series A                            | CUSIP: 576528DT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4260000 | PA      | $4132735.91   | 0.37%             | 2029-11-01      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Shelby County Health Educational & Housing Facilities Board                     | Shelby County Health Educational & Housing Facilities Board, Series B           | CUSIP: 821691AD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2155596.60   | 0.19%             | 2044-09-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Akron Bath Copley Joint Township Hospital District                              | Akron Bath Copley Joint Township Hospital District                              | CUSIP: 009730NX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11275000 | PA      | $11542125.05  | 1.04%             | 2046-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Texas Municipal Gas Acquisition and Supply Corp. II                             | Texas Municipal Gas Acquisition & Supply Corp. II, Series C                     | CUSIP: 88255QBH1<br>LEI: 8E22IH4TQD26WYDGHB25 | Long             | DBT              | MUN               | US        |   7690000 | PA      | $7697352.41   | 0.69%             | 2027-09-15      | Floating      | 3.53%                 | No            |                  2 | On Loan: No      |
| Ohio Higher Educational Facility Commission                                     | Ohio Higher Educational Facility Commission, Series B                           | CUSIP: 67756DZJ8<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |   3995000 | PA      | $3965901.22   | 0.36%             | 2042-12-01      | Floating      | 3.45%                 | No            |                  2 | On Loan: No      |
| Center Grove Community School Corp.                                             | Center Grove Community School Corp.                                             | CUSIP: 151469FT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002327.10   | 0.09%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Utah Housing Corp.                                                              | Utah Housing Corp.                                                              | CUSIP: 917434DL3<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1994175.80   | 0.18%             | 2045-09-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Duluth Independent School District No. 709                                      | Duluth Independent School District No. 709, Series C                            | CUSIP: 264471LL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1012888.56   | 0.09%             | 2031-02-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                   | Main Street Natural Gas, Inc., Series E                                         | CUSIP: 56035DJJ2<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   3645000 | PA      | $3960880.80   | 0.36%             | 2055-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                        | Massachusetts Development Finance Agency, Series N                              | CUSIP: 57585BNM6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2425000 | PA      | $2668192.58   | 0.24%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Jersey City Redevelopment Agency                                                | Jersey City Redevelopment Agency, Series A                                      | CUSIP: 476637AZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3330000 | PA      | $3333584.08   | 0.30%             | 2025-12-11      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority Aviation                             | Metropolitan Washington Airports Authority Aviation, Series A                   | CUSIP: 592647JW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2160000 | PA      | $2234631.02   | 0.20%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Public School Authority                                                | Virginia Public School Authority, Series A                                      | CUSIP: 92818HEF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3950000 | PA      | $3954636.51   | 0.36%             | 2028-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| City of Phoenix Civic Improvement Corp.                                         | City of Phoenix Civic Improvement Corp.                                         | CUSIP: 71883MQM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6210000 | PA      | $6656300.28   | 0.60%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Mankato                                                                 | City of Mankato, Series A                                                       | CUSIP: 563657SN6<br>LEI: 5493003B18DJ507ZEG20 | Long             | DBT              | MUN               | US        |    920000 | PA      | $905042.55    | 0.08%             | 2027-02-01      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                       | Indiana Finance Authority, Series D-1                                           | CUSIP: 45470YGD7<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   3750000 | PA      | $4042733.25   | 0.36%             | 2064-10-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power                                         | Los Angeles Department of Water & Power, Series D                               | CUSIP: 5444955P5<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    655000 | PA      | $681518.33    | 0.06%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Brownsville                                                             | City of Brownsville                                                             | CUSIP: 1164753T9<br>LEI: 549300ZLUVMJ8K0OEK50 | Long             | DBT              | MUN               | US        |   1330000 | PA      | $1381017.74   | 0.12%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                       | Indiana Finance Authority, Series B                                             | CUSIP: 45470CAE9<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   2545000 | PA      | $2463883.72   | 0.22%             | 2030-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Housing & Mortgage Finance Agency                                    | New Jersey Housing & Mortgage Finance Agency, Series M                          | CUSIP: 64613AKY7<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |    400000 | PA      | $405123.76    | 0.04%             | 2030-04-01      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Development Authority of Burke County (The)                                     | Development Authority of Burke County (The), Series 1                           | CUSIP: 121342MW6<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |  10000000 | PA      | $10000000.00  | 0.90%             | 2049-07-01      | Variable      | 3.95%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue         | New York City Transitional Finance Authority, Series B                          | CUSIP: 64972JWU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5755000 | PA      | $6093845.19   | 0.55%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Village of Pingree Grove                                                        | Village of Pingree Grove                                                        | CUSIP: 72342NAE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2493367.50   | 0.22%             | 2030-03-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                  | Black Belt Energy Gas District, Series C-1                                      | CUSIP: 09182TCG0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1960000 | PA      | $2090208.68   | 0.19%             | 2053-02-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Shakopee Independent School District No. 720                                    | Shakopee Independent School District No. 720, Series C                          | CUSIP: 819190VX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5155000 | PA      | $4630297.29   | 0.42%             | 2029-02-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia Housing Finance Agency                                     | District of Columbia Housing Finance Agency                                     | CUSIP: 25477PPQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $999624.80    | 0.09%             | 2040-09-01      | Variable      | 2.95%                 | No            |                  2 | On Loan: No      |
| Alabama Special Care Facilities Financing Authority                             | Alabama Special Care Facilities Financing Authority, Series A                   | CUSIP: 090929GQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6580809.60   | 0.59%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                            | Pennsylvania Higher Educational Facilities Authority, Series A                  | CUSIP: 70917RKC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    945000 | PA      | $937579.58    | 0.08%             | 2027-07-01      | Floating      | 3.45%                 | No            |                  2 | On Loan: No      |
| Arapahoe County School District No. 5 Cherry Creek                              | Arapahoe County School District No. 5 Cherry Creek, Series B                    | CUSIP: 164555BR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4930270.00   | 0.44%             | 2026-12-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                                     | Virginia Small Business Financing Authority                                     | CUSIP: 928104QU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1211295.15   | 0.11%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Fayette                                                               | County of Fayette                                                               | CUSIP: 312446AD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1119777.50   | 0.10%             | 2031-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Redmond                                                                 | City of Redmond, Series A                                                       | CUSIP: 757657ZC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $549015.85    | 0.05%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                       | New Jersey Economic Development Authority, Series A                             | CUSIP: 64578EJD0<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   2900000 | PA      | $2901795.39   | 0.26%             | 2027-06-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Virginia College Building Authority                                             | Virginia College Building Authority, Series D                                   | CUSIP: 92778VBX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3000069.90   | 0.27%             | 2026-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Clifton Higher Education Finance Corp.                                          | Clifton Higher Education Finance Corp.                                          | CUSIP: 187145WU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $534331.50    | 0.05%             | 2029-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| General Authority of Southcentral Pennsylvania                                  | General Authority of Southcentral Pennsylvania, Series A                        | CUSIP: 84129NNM7<br>LEI: 549300QBNU5LBV4QX812 | Long             | DBT              | MUN               | US        |  22000000 | PA      | $23646299.60  | 2.13%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Reno County Unified School District No. 309 Nickerson                           | Reno County Unified School District No. 309 Nickerson                           | CUSIP: 759805CS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    775000 | PA      | $803323.85    | 0.07%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                          | California Municipal Finance Authority, Series A                                | CUSIP: 13048RAR8<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3998829.60   | 0.36%             | 2046-11-01      | Variable      | 3.80%                 | No            |                  2 | On Loan: No      |
| New York State Energy Research & Development Authority                          | New York State Energy Research & Development Authority, Series A                | CUSIP: 64985VBG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2517108.50   | 0.23%             | 2028-04-01      | Fixed         | 5.82%                 | No            |                  2 | On Loan: No      |
| Alachua County Health Facilities Authority                                      | Alachua County Health Facilities Authority, Series B-2                          | CUSIP: 010684BP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001739.00   | 0.09%             | 2030-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| New Jersey Housing & Mortgage Finance Agency                                    | New Jersey Housing & Mortgage Finance Agency, Series M                          | CUSIP: 64613ALB6<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |    795000 | PA      | $811968.80    | 0.07%             | 2031-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| County of Fayette                                                               | County of Fayette                                                               | CUSIP: 312446AC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $661465.68    | 0.06%             | 2030-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                           | Louisiana Public Facilities Authority, Series B                                 | CUSIP: 546399UQ7<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4314466.00   | 0.39%             | 2030-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bristol Industrial Development Authority                                        | Bristol Industrial Development Authority, Series A                              | CUSIP: 110354AN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1475000 | PA      | $1492522.12   | 0.13%             | 2033-11-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Harris County Water Control & Improvement District No. 158                      | Harris County Water Control & Improvement District No. 158                      | CUSIP: 41453EAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $335844.60    | 0.03%             | 2026-09-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| City of Galveston                                                               | City of Galveston, Series A                                                     | CUSIP: 364568JM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $631345.81    | 0.06%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Gunnison County Housing Authority                                               | Gunnison County Housing Authority                                               | CUSIP: 402884AB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $579372.09    | 0.05%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                          | California Statewide Communities Development Authority, Series A                | CUSIP: 13078HAY8<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |  11500000 | PA      | $10752948.50  | 0.97%             | 2029-09-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| New York State Housing Finance Agency                                           | New York State Housing Finance Agency, Series A                                 | CUSIP: 64987JY62<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10157931.00  | 0.91%             | 2042-05-01      | Variable      | 3.57%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority                                      | Metropolitan Washington Airports Authority, Series A                            | CUSIP: 592647NK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1324341.75   | 0.12%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Housing Development Authority                                          | Virginia Housing Development Authority, Series G                                | CUSIP: 92812XRF1<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3749172.75   | 0.34%             | 2056-07-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| County of Pinal                                                                 | County of Pinal                                                                 | CUSIP: 72205RJM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $357474.01    | 0.03%             | 2030-08-01      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| PMA Levy & Aid Anticipation Notes Program                                       | PMA Levy & Aid Anticipation Notes Program, Series B                             | CUSIP: 730146DQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6500000 | PA      | $6621204.85   | 0.60%             | 2026-09-24      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Housing & Mortgage Finance Agency                                    | New Jersey Housing & Mortgage Finance Agency, Series M                          | CUSIP: 64613ALA8<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |    780000 | PA      | $794104.35    | 0.07%             | 2031-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                  | Black Belt Energy Gas District, Series B-1                                      | CUSIP: 09182TBC0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   3920000 | PA      | $3982574.57   | 0.36%             | 2053-04-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Indiana Housing & Community Development Authority                               | Indiana Housing & Community Development Authority, Series B                     | CUSIP: 45505TUD1<br>LEI: 549300QRKDYVNHT1OE86 | Long             | DBT              | MUN               | US        |    300000 | PA      | $262345.83    | 0.02%             | 2032-07-01      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| State of Wisconsin                                                              | State of Wisconsin, Series 2                                                    | CUSIP: 97705ML94<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |   1810000 | PA      | $2044696.00   | 0.18%             | 2031-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Village of Pingree Grove                                                        | Village of Pingree Grove                                                        | CUSIP: 72342NAF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1247560.50   | 0.11%             | 2031-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Las Vegas Convention & Visitors Authority                                       | Las Vegas Convention & Visitors Authority, Series B                             | CUSIP: 51771FAZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5665000 | PA      | $6308426.73   | 0.57%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Washington County Independent School District No. 833                     | South Washington County Independent School District No. 833, Series B           | CUSIP: 840610ST7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8040000 | PA      | $8040458.28   | 0.72%             | 2027-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority Aviation                             | Metropolitan Washington Airports Authority Aviation, Series A                   | CUSIP: 592647MM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7526696.10   | 0.68%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Dallas                                                                  | City of Dallas, Series B                                                        | CUSIP: 235219XY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7043406.30   | 0.63%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Golden State Tobacco Securitization Corp.                                       | Golden State Tobacco Securitization Corp., Series B                             | CUSIP: 38122NB35<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3900000 | PA      | $3659676.15   | 0.33%             | 2029-06-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Kentucky Economic Development Finance Authority                                 | Kentucky Economic Development Finance Authority, Series B                       | CUSIP: 49126RAD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3300000 | PA      | $3298875.03   | 0.30%             | 2028-05-01      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finance Corp.                      | Tarrant County Cultural Education Facilities Finance Corp., Series A            | CUSIP: 87638QSL4<br>LEI: 549300ROY505NVTMMI25 | Long             | STIV             | MUN               | US        |  10000000 | PA      | $10000000.00  | 0.90%             | 2050-11-15      | Variable      | 2.78%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                               | Southeast Energy Authority A Cooperative District, Series B-1                   | CUSIP: 84136FBB2<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1870000 | PA      | $1947197.34   | 0.17%             | 2053-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| West Athens Lime Street Fire District                                           | West Athens Lime Street Fire District                                           | CUSIP: 95122AAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2264354.55   | 0.20%             | 2026-09-03      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| New York State Energy Research & Development Authority                          | New York State Energy Research & Development Authority, Series A                | CUSIP: 64985VBE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1625000 | PA      | $1626943.18   | 0.15%             | 2026-04-01      | Fixed         | 5.74%                 | No            |                  2 | On Loan: No      |
| Harris County Municipal Utility District No. 490                                | Harris County Municipal Utility District No. 490                                | CUSIP: 41430EHH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    870000 | PA      | $987267.56    | 0.09%             | 2030-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| San Jose Evergreen Community College District                                   | San Jose Evergreen Community College District, Series B                         | CUSIP: 798189HD1<br>LEI: 5493006H31JIFYW6Z091 | Long             | DBT              | MUN               | US        |   4900000 | PA      | $4876485.39   | 0.44%             | 2043-07-01      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| Toll Road Investors Partnership II LP                                           | Toll Road Investors Partnership II LP                                           | CUSIP: 88948ABH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12700000 | PA      | $8525617.95   | 0.77%             | 2032-02-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| City of Mesquite Waterworks & Sewer System                                      | City of Mesquite                                                                | CUSIP: 590775DY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1035000 | PA      | $1042119.97   | 0.09%             | 2026-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maine Health & Higher Educational Facilities Authority                          | Maine Health & Higher Educational Facilities Authority, Series C                | CUSIP: 56042R7V8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $207268.54    | 0.02%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia Housing Authority                                                  | Philadelphia Housing Authority, Series A                                        | CUSIP: 71783TAB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4750000 | PA      | $4965787.28   | 0.45%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Walled Lake Consolidated School District                                        | Walled Lake Consolidated School District                                        | CUSIP: 932423WW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $656429.41    | 0.06%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                                     | Virginia Small Business Financing Authority                                     | CUSIP: 928104QT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1168958.89   | 0.11%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Texas                                                                  | State of Texas                                                                  | CUSIP: 882724RE9<br>LEI: 549300X9CH74QB747L76 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2844889.20   | 0.26%             | 2029-10-01      | Fixed         | 2.33%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp.                            | New Hope Cultural Education Facilities Finance Corp.                            | CUSIP: 64542UGQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $283015.99    | 0.03%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Higher Education Student Assistance Authority                        | New Jersey Higher Education Student Assistance Authority, Series 1-B            | CUSIP: 646080YN5<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3610481.35   | 0.32%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Brownsville                                                             | City of Brownsville                                                             | CUSIP: 1164753U6<br>LEI: 549300ZLUVMJ8K0OEK50 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1329895.25   | 0.12%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sacramento City Financing Authority                                             | Sacramento City Financing Authority, Series A                                   | CUSIP: 785849QH6<br>LEI: 549300D8GE38KYE3NW14 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4988659.50   | 0.45%             | 2025-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                              | New York State Dormitory Authority, Series D                                    | CUSIP: 649902T29<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   3152430 | PA      | $3205196.62   | 0.29%             | 2030-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Town of Sutton                                                                  | Town of Sutton                                                                  | CUSIP: 869461JG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1950000 | PA      | $1932662.75   | 0.17%             | 2026-06-01      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| Center Grove Community School Corp.                                             | Center Grove Community School Corp.                                             | CUSIP: 151469FR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1805000 | PA      | $1809200.42   | 0.16%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                      | Michigan Finance Authority, Series MI-2                                         | CUSIP: 59447T8C0<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7006071.80   | 0.63%             | 2044-12-01      | Variable      | 3.88%                 | Yes           |                  2 | On Loan: No      |
| District of Columbia Housing Finance Agency                                     | District of Columbia Housing Finance Agency, Series B                           | CUSIP: 25477TBB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2857056.40   | 0.26%             | 2029-03-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Peoria Tazewell Etc Counties Community College District No. 514                 | Peoria Tazewell Etc Counties Community College District No. 514, Series B       | CUSIP: 713244EV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2665000 | PA      | $2846918.50   | 0.26%             | 2027-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp.                            | New Hope Cultural Education Facilities Finance Corp.                            | CUSIP: 64542UGS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    435000 | PA      | $450727.34    | 0.04%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Miami-Dade County Housing Finance Authority                                     | Miami-Dade County Housing Finance Authority, Series B                           | CUSIP: 593344CA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2024764.20   | 0.18%             | 2029-03-01      | Variable      | 3.55%                 | No            |                  2 | On Loan: No      |
| County of Salt Lake                                                             | County of Salt Lake, Series B                                                   | CUSIP: 795676UT0<br>LEI: 5493006VYRFL1AI6GT29 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $979913.20    | 0.09%             | 2028-12-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                               | State of Illinois, Series 3                                                     | CUSIP: 452152FA4<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1538462 | PA      | $1650470.46   | 0.15%             | 2035-04-01      | Fixed         | 6.72%                 | No            |                  2 | On Loan: No      |
| Mckinney Municipal Utility District No. 2                                       | Mckinney Municipal Utility District No. 2                                       | CUSIP: 581733GH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2539398.49   | 0.23%             | 2031-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                                     | Virginia Small Business Financing Authority                                     | CUSIP: 928104QS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1152233.17   | 0.10%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port of Portland                                                                | Port of Portland, Series 30-A                                                   | CUSIP: 7352403P6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3210216.30   | 0.29%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Houston Combined Utility System                                         | City of Houston, Series B                                                       | CUSIP: 44244CGJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2046935.20   | 0.18%             | 2026-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Township of Piscataway                                                          | Township of Piscataway                                                          | CUSIP: 724292YK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1425000 | PA      | $1425832.06   | 0.13%             | 2027-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| TSASC, Inc.                                                                     | TSASC, Inc., Series A                                                           | CUSIP: 898526EU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3095000 | PA      | $3127628.11   | 0.28%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                      | Michigan Finance Authority, Series MI-3                                         | CUSIP: 59447T7E7<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3101325.60   | 0.28%             | 2038-12-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Poland Central School District                                                  | Poland Central School District                                                  | CUSIP: 730876CN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    805000 | PA      | $705829.31    | 0.06%             | 2033-06-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Matching Fund Special Purpose Securitization Corp.                              | Matching Fund Special Purpose Securitization Corp., Series A                    | CUSIP: 57665NAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | VI        |  15430000 | PA      | $15512397.74  | 1.39%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                                       | New York Transportation Development Corp.                                       | CUSIP: 650116FE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2161979.60   | 0.19%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Territory of Guam                                                               | Territory of Guam, Series G                                                     | CUSIP: 40065NCU9<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |   1325000 | PA      | $1372134.49   | 0.12%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Gunnison County Housing Authority                                               | Gunnison County Housing Authority                                               | CUSIP: 402884AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $618135.96    | 0.06%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Wisconsin                                                              | State of Wisconsin, Series 4                                                    | CUSIP: 97705MYE9<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3448221.60   | 0.31%             | 2032-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Finance Authority of Maine                                                      | Finance Authority of Maine, Series A-1                                          | CUSIP: 56042TBR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1037738.50   | 0.09%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Leander Independent School District                                             | Leander Independent School District, Series A                                   | CUSIP: 521841P67<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $461628.15    | 0.04%             | 2028-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Southern California Logistics Airport Authority                                 | Southern California Logistics Airport Authority, Series A                       | CUSIP: 842472EA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $986007.42    | 0.09%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hamilton Southeastern Schools                                                   | Hamilton Southeastern Schools, Series A                                         | CUSIP: 40785TBP7<br>LEI: 5493000FC485CIXGCV15 | Long             | DBT              | MUN               | US        |   1430000 | PA      | $1434418.27   | 0.13%             | 2025-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade                                                            | County of Miami-Dade, Series A                                                  | CUSIP: 59333P7F9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2142077.40   | 0.19%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oregon School Boards Association                                                | Oregon School Boards Association, Series B                                      | CUSIP: 686053BN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3498224 | PA      | $3569193.56   | 0.32%             | 2028-06-30      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Center Grove Community School Corp.                                             | Center Grove Community School Corp.                                             | CUSIP: 151469FX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $559763.60    | 0.05%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Harris County Municipal Utility District No. 171                                | Harris County Municipal Utility District No. 171                                | CUSIP: 41423THL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $863069.68    | 0.08%             | 2027-12-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Iowa Student Loan Liquidity Corp.                                               | Iowa Student Loan Liquidity Corp., Series B                                     | CUSIP: 462590PN4<br>LEI: 549300FO1LWVSZKGJK70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1065080.40   | 0.10%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maine Health & Higher Educational Facilities Authority                          | Maine Health & Higher Educational Facilities Authority, Series C                | CUSIP: 56042R7U0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $202707.56    | 0.02%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                          | California Municipal Finance Authority, Series B                                | CUSIP: 13048V4Q8<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000005.60   | 0.18%             | 2030-05-15      | Fixed         | 4.51%                 | No            |                  2 | On Loan: No      |
| New Jersey Housing & Mortgage Finance Agency                                    | New Jersey Housing & Mortgage Finance Agency, Series M                          | CUSIP: 64613AKW1<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |    250000 | PA      | $251868.20    | 0.02%             | 2029-04-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                       | Maryland Health & Higher Educational Facilities Authority                       | CUSIP: 57421CJD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2515000 | PA      | $2549876.76   | 0.23%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                 | California Community Choice Financing Authority, Series C                       | CUSIP: 13013JCM6<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4828137.75   | 0.43%             | 2054-01-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Forsyth                                                                 | City of Forsyth, Series A                                                       | CUSIP: 346668DP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2371919.39   | 0.21%             | 2032-10-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                       | New Jersey Economic Development Authority, Series B                             | CUSIP: 645780FT9<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   2910000 | PA      | $2946677.64   | 0.26%             | 2034-11-01      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| County of Dane                                                                  | County of Dane, Series A                                                        | CUSIP: 236092AJ1<br>LEI: 5493000I57K3U1SCHU17 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2968167.00   | 0.27%             | 2026-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Municipal Electric Authority of Georgia                                         | Municipal Electric Authority of Georgia, Series A                               | CUSIP: 6262074P6<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    970000 | PA      | $973335.64    | 0.09%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Idaho Housing & Finance Association                                             | Idaho Housing & Finance Association, Series A                                   | CUSIP: 45129Y4N3<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   1120000 | PA      | $1128682.91   | 0.10%             | 2028-07-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| City & County of Denver Airport System                                          | City & County of Denver Airport System, Series A                                | CUSIP: 249182KY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5370000 | PA      | $5377582.98   | 0.48%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Housing & Community Development Authority                               | Indiana Housing & Community Development Authority, Series B-2                   | CUSIP: 45505WCC6<br>LEI: 549300QRKDYVNHT1OE86 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009673.10   | 0.09%             | 2028-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp.                            | New Hope Cultural Education Facilities Finance Corp.                            | CUSIP: 64542UGP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300000.00    | 0.03%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                               | Southeast Energy Authority A Cooperative District, Series C                     | CUSIP: 84136HCF8<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3230677.50   | 0.29%             | 2055-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Maryland                                                               | State of Maryland, Series A                                                     | CUSIP: 574193TC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5456568.50   | 0.49%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Council                                                            | Metropolitan Council, Series C                                                  | CUSIP: 591852E95<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5605000 | PA      | $5488637.96   | 0.49%             | 2029-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-01

**Name of Applicant:** NEW YORK LIFE INVESTMENTS FUNDS TRUST

**Signature:** Jack Benintende

**Name of Signer:** Jack Benintende

**Title:** Treasurer