# EDGAR Filing Document

**Accession Number:** 0000751656
**File Stem:** 0001752724-23-037572
**Filing Date:** 2023-2
**Character Count:** 176616
**Document Hash:** 908247103935e405f6cfd7b2ebfafb2d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-037572.hdr.sgml**: 20230224

**ACCESSION NUMBER**: 0001752724-23-037572

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230224

**DATE AS OF CHANGE**: 20230224

**PERIOD START**: 20230331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MFS MUNICIPAL SERIES TRUST
- **CENTRAL INDEX KEY:** 0000751656
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04096
- **FILM NUMBER:** 23662626

**BUSINESS ADDRESS:**
- **STREET 1:** 111 HUNTINGTON AVENUE
- **STREET 2:** 21ST FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199
- **BUSINESS PHONE:** 18006372929

**MAIL ADDRESS:**
- **STREET 1:** 111 HUNTINGTON AVENUE
- **STREET 2:** 21ST FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MFS MANAGED MULTI STATE MUNICIPAL BOND TRUST
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MFS MANAGED MULTI STATE TAX EXEMPT TRUST
- **DATE OF NAME CHANGE:** 19890410

## Series and Classes Contracts Data

### MFS New York Municipal Bond Fund (Series ID: S000002522)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000006959 | A            | MSNYX           |
| C000006960 | B            | MBNYX           |
| C000006961 | C            | MCNYX           |
| C000169759 | I            | MNYLX           |
| C000194228 | R6           | MPNYX           |

## Nport-Ex

![](imgbe3f15b01.gif)

### Quarterly Report
December 31, 2022

MFS<sup>®</sup> New York<br> Municipal Bond Fund

![](imge132bf3d2.gif)

MNY-Q3

------

### Portfolio of Investments
12/31/22 (unaudited)

The Portfolio of Investments is a complete list of all securities owned by your fund. It is categorized by broad-based asset classes.

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | &nbsp;&nbsp;&nbsp;**Value ($)** |
| Municipal Bonds – 97.6% | Municipal Bonds – 97.6% | Municipal Bonds – 97.6% |
| Airport Revenue – 2.9% | Airport Revenue – 2.9% | Airport Revenue – 2.9% |
| Albany County, NY, Airport Authority Rev., "A", 5%, 12/15/2043 | $1500000 | &nbsp;&nbsp;&nbsp;&nbsp;$1545187 |
| New York Transportation Development Corp., Special Facilities Rev. (Terminal 4 John F. Kennedy International Airport Project), "A", 4%, 12/01/2040 | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1355918 |
| Niagara, NY, Frontier Transportation Authority Rev. (Buffalo-Niagara International Airport), "A", 5%, 4/01/2028 | &nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;659545 |
| Niagara, NY, Frontier Transportation Authority Rev. (Buffalo-Niagara International Airport), "A", 5%, 4/01/2029 | &nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507255 |
| Niagara, NY, Frontier Transportation Authority Rev. (Buffalo-Niagara International Airport), "A", 5%, 4/01/2035 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1043716 |
| Niagara, NY, Frontier Transportation Authority Rev. (Buffalo-Niagara International Airport), "A", 5%, 4/01/2038 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1028575 |
| Wayne County, MI, Airport Authority Rev. (Detroit Metropolitan Wayne County Airport), "B", 5%, 12/01/2044 | &nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89435 |
| Wayne County, MI, Airport Authority Rev. (Detroit Metropolitan Wayne County Airport), "B", BAM, 5%, 12/01/2039 | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15163 |
| Wayne County, MI, Airport Authority Rev. (Detroit Metropolitan Wayne County Airport), "C", 5%, 12/01/2039 | &nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80653 |
| Wayne County, MI, Airport Authority Rev. (Detroit Metropolitan Wayne County Airport), "C", 5%, 12/01/2044 | &nbsp;&nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130000 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$6455447 |
| General Obligations - General Purpose – 8.4% | General Obligations - General Purpose – 8.4% | General Obligations - General Purpose – 8.4% |
| Bridgeview, IL, Stadium and Redevelopment Projects, Taxable, AAC, 5.14%, 12/01/2036 | $&nbsp;&nbsp;&nbsp;615000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$545694 |
| Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Capital Appreciation, Series 2022A, 0%, 7/01/2024 | &nbsp;&nbsp;&nbsp;&nbsp;36292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33636 |
| Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Capital Appreciation, Series 2022A, 0%, 7/01/2033 | &nbsp;&nbsp;&nbsp;139873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75610 |
| Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Series 2022A, 5.375%, 7/01/2025 | &nbsp;&nbsp;&nbsp;121050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121963 |
| Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Series 2022A, 5.625%, 7/01/2027 | &nbsp;&nbsp;&nbsp;119953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122216 |
| Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Series 2022A, 5.625%, 7/01/2029 | &nbsp;&nbsp;&nbsp;118007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120746 |
| Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Series 2022A, 5.75%, 7/01/2031 | &nbsp;&nbsp;&nbsp;114620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118513 |
| Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Series 2022A, 4%, 7/01/2033 | &nbsp;&nbsp;&nbsp;108689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94240 |
| Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Series 2022A, 4%, 7/01/2035 | &nbsp;&nbsp;&nbsp;184514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155285 |
| Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Series 2022A, 4%, 7/01/2037 | &nbsp;&nbsp;&nbsp;&nbsp;83850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68595 |
| Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Series 2022A, 4%, 7/01/2041 | &nbsp;&nbsp;&nbsp;114004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89265 |
| Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Series 2022A, 4%, 7/01/2046 | &nbsp;&nbsp;&nbsp;354563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265811 |
| Long Beach, NY, General Obligation, "B", BAM, 4.625%, 7/15/2052 (w) | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1960217 |
| Nassau County, NY, General Improvement, "B", AGM, 5%, 7/01/2035 | 2175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2366952 |
| Nassau County, NY, General Improvement, "B", AGM, 5%, 7/01/2037 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3224390 |
| New York, NY, "B-1", 3%, 10/01/2044 | 1825000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1448046 |
| New York, NY, "D-1", 5%, 12/01/2038 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2143474 |
| New York, NY, "J", FGIC, 5.5%, 2/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5010 |
| New York, NY, General Obligation, "B-1", 5%, 12/01/2041 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3141105 |
| Poughkeepsie, NY, Dutchess County Public Improvement, 5%, 6/01/2031 | &nbsp;&nbsp;&nbsp;635000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662099 |
| State of Illinois, General Obligation, 5.5%, 5/01/2039 | &nbsp;&nbsp;&nbsp;215000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221898 |
| State of Illinois, General Obligation, 5.75%, 5/01/2045 | &nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207723 |
| State of Illinois, General Obligation, "A", 5%, 3/01/2030 | &nbsp;&nbsp;&nbsp;335000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345755 |
| Yonkers, NY, General Obligation, "F", BAM, 5%, 11/15/2042 | &nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805481 |
|  |  | &nbsp;&nbsp;&nbsp;$18343724 |
| Healthcare Revenue - Hospitals – 10.0% | Healthcare Revenue - Hospitals – 10.0% | Healthcare Revenue - Hospitals – 10.0% |
| Buffalo & Erie County, NY, Industrial Land Development Corp. Rev. (Catholic Health System, Inc. Project), 5%, 7/01/2026 | $&nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$418473 |
| Buffalo & Erie County, NY, Industrial Land Development Corp. Rev. (Catholic Health System, Inc. Project), 5%, 7/01/2027 | &nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275852 |
| Buffalo & Erie County, NY, Industrial Land Development Corp. Rev. (Catholic Health System, Inc. Project), 5%, 7/01/2029 | &nbsp;&nbsp;&nbsp;590000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522495 |
| California Health Facilities Financing Authority Rev., (Cedars-Sinai Health System), "A", 5%, 8/15/2051 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2125334 |
| Dutchess County, NY, Local Development Corp. Rev. (Health Quest Systems, Inc. Project), 4%, 7/01/2041 | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1311712 |
| Dutchess County, NY, Local Development Corp. Rev. (Health Quest Systems, Inc. Project), "A", 5%, 7/01/2044 (Prerefunded 7/01/2024) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1031980 |
| Jefferson County, NY, Civic Development Corp. Rev. (Samaritan Medical Center), "A", 5%, 11/01/2037 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1974856 |
| Knox County, TN, Health, Educational & Housing Facility Board Rev. (University Health Systems, Inc.), "A", 5%, 9/01/2030 | 1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1313604 |
| Monroe County, NY, Industrial Development Corp. Rev. (Rochester General Hospital Project), 5%, 12/01/2046 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1980696 |
| Nassau County, NY, Local Economic Assistance Corp. Rev. (Catholic Health Services of Long Island Obligated Group Project), 5%, 7/01/2032 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021643 |
| New York Dormitory Authority Rev. (HYU Langone Hospitals Obligated Group), "A", 4%, 7/01/2050 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1841550 |
| New York Dormitory Authority Rev. (Maimonides Medical Center), FHA, 4%, 8/01/2043 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000059 |
| New York Dormitory Authority Rev. (Montefiore Obligated Group), "A", 4%, 9/01/2050 | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1207133 |

---

------

Portfolio of Investments (unaudited) – continued

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | &nbsp;&nbsp;&nbsp;**Value ($)** |
| Municipal Bonds – continued | Municipal Bonds – continued | Municipal Bonds – continued |
| Healthcare Revenue - Hospitals – continued | Healthcare Revenue - Hospitals – continued | Healthcare Revenue - Hospitals – continued |
| New York Dormitory Authority Rev. (Norwell Health Obligated Group), "A", 4.25%, 5/01/2052 | $3000000 | &nbsp;&nbsp;&nbsp;&nbsp;$2735354 |
| New York Dormitory Authority Rev., Non-State Supported Debt (Orange Regional Medical Center Obligated Group Rev.), 5%, 12/01/2035 (n) | &nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;793276 |
| Oneida County, NY, Local Development Corp. Rev. (Mohawk Valley Health System Project), "A", AGM, 4%, 12/01/2038 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;943933 |
| Royal Oak, MI, Hospital Finance Authority Rev. (William Beaumont Hospital), 5%, 9/01/2039 (Prerefunded 3/01/2024) | 1290000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1321313 |
| Westchester County, NY, Health Care Corp. Rev., "B", "C-2", 6%, 11/01/2030 | &nbsp;&nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120190 |
|  |  | &nbsp;&nbsp;&nbsp;$21939453 |
| Healthcare Revenue - Long Term Care – 2.0% | Healthcare Revenue - Long Term Care – 2.0% | Healthcare Revenue - Long Term Care – 2.0% |
| Brookhaven, NY, Local Development Corp. Rev. (Active Retirement Community, Inc. d/b/a/ Jefferson's Ferry Project), 5.25%, 11/01/2036 | $1000000 | &nbsp;&nbsp;&nbsp;&nbsp;$1016882 |
| Brookhaven, NY, Local Development Corp. Rev. (Active Retirement Community, Inc. d/b/a/ Jefferson's Ferry Project), "A", 4%, 11/01/2045 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1651036 |
| Buffalo & Erie County, NY, Industrial Land Development Corp. Rev. (Orchard Park CCRC, Inc. Project), 5%, 11/15/2037 | &nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;754125 |
| Tompkins County, NY, Development Corp. Continuing Care Retirement Community Rev. (Kendal at Ithaca, Inc. Project), "A", 5%, 7/01/2044 | &nbsp;&nbsp;&nbsp;915000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;892635 |
| Ulster County, NY, Capital Resource Corp. Rev. (Woodland Pond at New Paltz Project), 4%, 9/15/2025 | &nbsp;&nbsp;&nbsp;165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155008 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$4469686 |
| Industrial Revenue - Airlines – 3.5% | Industrial Revenue - Airlines – 3.5% | Industrial Revenue - Airlines – 3.5% |
| New York Transportation Development Corp., Special Facilities Rev. (American Airlines, Inc. John F. Kennedy International Airport Project), 3%, 8/01/2031 | $1500000 | &nbsp;&nbsp;&nbsp;&nbsp;$1304121 |
| New York Transportation Development Corp., Special Facilities Rev. (American Airlines, Inc. John F. Kennedy International Airport Project), 5%, 8/01/2031 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;978374 |
| New York Transportation Development Corp., Special Facilities Rev. (American Airlines, Inc. John F. Kennedy International Airport Project), 5.375%, 8/01/2036 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;986228 |
| New York Transportation Development Corp., Special Facilities Rev. (Delta Airlines, Inc. LaGuardia Airport Terminals C&D Redevelopment Project), 5%, 1/01/2034 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1006575 |
| New York Transportation Development Corp., Special Facilities Rev. (Delta Airlines, Inc. LaGuardia Airport Terminals C&D Redevelopment Project), 5%, 1/01/2036 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1983786 |
| New York Transportation Development Corp., Special Facilities Rev. (Delta Airlines, Inc. LaGuardia Airport Terminals C&D Redevelopment Project), 4.375%, 10/01/2045 | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1340915 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$7599999 |
| Industrial Revenue - Environmental Services – 0.4% | Industrial Revenue - Environmental Services – 0.4% | Industrial Revenue - Environmental Services – 0.4% |
| New York Environmental Facilities Corp. Rev., Solid Waste Disposal (Casella Waste Management, Inc. Project), 2.75%, 9/01/2050 (Put Date 9/02/2025) (n) | $1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$941697 |
| Industrial Revenue - Other – 0.2% | Industrial Revenue - Other – 0.2% | Industrial Revenue - Other – 0.2% |
| Port Beaumont, TX, Navigation District, Dock & Wharf Facility Rev. (Jefferson Gulf Coast Energy Project), "A", 3.625%, 1/01/2035 (n) | $&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$160537 |
| Port Beaumont, TX, Navigation District, Dock & Wharf Facility Rev. (Jefferson Gulf Coast Energy Project), "A", 2.875%, 1/01/2041 (n) | &nbsp;&nbsp;&nbsp;255000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166971 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$327508 |
| Industrial Revenue - Paper – 0.3% | Industrial Revenue - Paper – 0.3% | Industrial Revenue - Paper – 0.3% |
| Build NYC Resource Corp. Solid Waste Disposal Rev. (Pratt Paper, Inc. Project), 4.5%, 1/01/2025 (n) | $&nbsp;&nbsp;&nbsp;545000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$549609 |
| Miscellaneous Revenue - Other – 3.7% | Miscellaneous Revenue - Other – 3.7% | Miscellaneous Revenue - Other – 3.7% |
| Indiana Finance Authority Rev. (Ohio River Bridges East End Crossing Project), "A", 5%, 7/01/2040 (Prerefunded 7/01/2023) | $&nbsp;&nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$206532 |
| Matching Fund Special Purpose Securitization Corp., "A", 5%, 10/01/2026 | &nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92368 |
| New York City Convention Center Development Corp., Capital Appreciation, "B", AGM, 0%, 11/15/2043 | &nbsp;&nbsp;&nbsp;680000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246260 |
| New York Liberty Development Corp., Liberty Rev. (3 World Trade Center Project), "1", 5%, 11/15/2044 (n) | 1940000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1760044 |
| New York Liberty Development Corp., Liberty Rev. (3 World Trade Center Project), "2", 5.375%, 11/15/2040 (n) | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1455505 |
| New York, NY, Industrial Development Agency, Airport Facilities Rev. (Transportation Infrastructure Properties LLC), 5%, 7/01/2028 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000973 |
| Syracuse, NY, Industrial Development Agency PILOT Rev. (Carousel Center Project), "A", 5%, 1/01/2034 | &nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555461 |
| Syracuse, NY, Industrial Development Agency PILOT Rev. (Carousel Center Project), "A", 5%, 1/01/2036 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;713093 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$8030236 |

---

------

Portfolio of Investments (unaudited) – continued

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | &nbsp;&nbsp;&nbsp;**Value ($)** |
| Municipal Bonds – continued | Municipal Bonds – continued | Municipal Bonds – continued |
| Multi-Family Housing Revenue – 11.0% | Multi-Family Housing Revenue – 11.0% | Multi-Family Housing Revenue – 11.0% |
| National Finance Authority, New Hampshire Municipal Certificates, "1-A", 4.375%, 9/20/2036 | $&nbsp;&nbsp;&nbsp;659641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$636960 |
| New York Housing Finance Agency Affordable Housing Rev. (Climate Bond), "B", 3.7%, 11/01/2038 | 1450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1330585 |
| New York Housing Finance Agency Affordable Housing Rev. (Climate Bond), "I", 4%, 11/01/2043 | 1015000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;940592 |
| New York Housing Finance Agency Affordable Housing Rev., "E-1", 4.125%, 11/01/2047 | 4080000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3708025 |
| New York Housing Finance Agency Affordable Housing Rev., "F-1", 5.1%, 11/01/2052 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1012387 |
| New York Housing Finance Agency Affordable Housing Rev., "F-1", 5.15%, 11/01/2057 | 1200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1214831 |
| New York Housing Finance Agency Affordable Housing Rev., "G-1", 4.625%, 11/01/2042 | &nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348366 |
| New York Housing Finance Agency Affordable Housing Rev., "G-1", 4.8%, 11/01/2047 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;996463 |
| New York State Housing Finance Agency Affordable Rev., "A-2", 2.5%, 11/01/2060 (Put Date 5/01/2027) | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1908060 |
| New York, NY, Housing Development Corp., Multi-Family Housing Rev. (8 Spruce Street), "E", 3.5%, 2/15/2048 | &nbsp;&nbsp;&nbsp;276686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269186 |
| New York, NY, Housing Development Corp., Multi-Family Housing Rev. (8 Spruce Street), "F", 4.5%, 2/15/2048 | &nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735854 |
| New York, NY, Housing Development Corp., Multi-Family Housing Rev. (Sustainable Development Bonds), "F-1", 4.6%, 11/01/2042 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000536 |
| New York, NY, Housing Development Corp., Multi-Family Housing Rev. (Sustainable Development Bonds), "F-1", 4.75%, 11/01/2047 | &nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497503 |
| New York, NY, Housing Development Corp., Multi-Family Housing Rev. (Sustainable Development Bonds), "F-1", 4.85%, 11/01/2052 | &nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498071 |
| New York, NY, Housing Development Corp., Multi-Family Housing Rev. (Sustainable Development Bonds), "G", FHA, 2.45%, 11/01/2045 | 2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1680002 |
| New York, NY, Housing Development Corp., Multi-Family Housing Rev. (Sustainable Neighborhood Bonds), "A-3-A", 3.8%, 11/01/2039 | 1970000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1809259 |
| New York, NY, Housing Development Corp., Multi-Family Housing Rev. (Sustainable Neighborhood Bonds), "C-1-A", 3.95%, 11/01/2048 | 2610000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2303787 |
| New York, NY, Housing Development Corp., Multi-Family Housing Rev., "C-1", 4.25%, 11/01/2052 | 2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2263097 |
| New York, NY, Housing Development Corp., Multi-Family Housing Rev., "F-1", 2.25%, 11/01/2041 | 1535000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023672 |
|  |  | &nbsp;&nbsp;&nbsp;$24177236 |
| Port Revenue – 3.3% | Port Revenue – 3.3% | Port Revenue – 3.3% |
| New York Liberty Development Corp., Liberty Refunding Rev. (1 World Trade Center Project), 2.75%, 2/15/2044 | $2000000 | &nbsp;&nbsp;&nbsp;&nbsp;$1427634 |
| Port Authority of NY & NJ (211th Series), 4%, 9/01/2043 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1913562 |
| Port Authority of NY & NJ (221st Series), 4%, 7/15/2045 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1809270 |
| Port Authority of NY & NJ (221st Series), 4%, 7/15/2055 | 2485000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2155080 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$7305546 |
| Sales & Excise Tax Revenue – 4.7% | Sales & Excise Tax Revenue – 4.7% | Sales & Excise Tax Revenue – 4.7% |
| Guam Government Business Privilege Tax Refunding, "F", 5%, 1/01/2029 | $&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$21126 |
| Guam Government Business Privilege Tax Refunding, "F", 5%, 1/01/2030 | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15950 |
| Guam Government Business Privilege Tax Refunding, "F", 5%, 1/01/2031 | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21386 |
| Guam Government Business Privilege Tax Refunding, "F", 4%, 1/01/2042 | &nbsp;&nbsp;&nbsp;185000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161229 |
| Guam Government Business Privilege Tax Rev., "D", 5%, 11/15/2031 | &nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;768969 |
| Illinois Sales Tax Securitization Corp., Second Lien, "A", 5%, 1/01/2028 | &nbsp;&nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225380 |
| Illinois Sales Tax Securitization Corp., Second Lien, "A", 4%, 1/01/2038 | &nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53019 |
| Illinois Sales Tax Securitization Corp., Second Lien, "A", 4%, 1/01/2039 | &nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37821 |
| Illinois Sales Tax Securitization Corp., Second Lien, "A", 4%, 1/01/2040 | &nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57736 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., "2019A-1", 4.55%, 7/01/2040 | &nbsp;&nbsp;&nbsp;&nbsp;63000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57797 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., "2019A-1", 4.75%, 7/01/2053 | &nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176789 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., "2019A-1", 5%, 7/01/2058 | 2186000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1984735 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., "2019A-2", 4.329%, 7/01/2040 | &nbsp;&nbsp;&nbsp;376000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338715 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., "2019A-2", 4.329%, 7/01/2040 | &nbsp;&nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189176 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., "2019A-2", 4.536%, 7/01/2053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3410 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., "2019A-2", 4.784%, 7/01/2058 | &nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78083 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, "2019A-1", 0%, 7/01/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4664 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, "2019A-1", 0%, 7/01/2027 | &nbsp;&nbsp;&nbsp;103000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83329 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, "2019A-1", 0%, 7/01/2029 | &nbsp;&nbsp;&nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12389 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, "2019A-1", 0%, 7/01/2031 | &nbsp;&nbsp;&nbsp;942000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;613639 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, "2019A-1", 0%, 7/01/2033 | &nbsp;&nbsp;&nbsp;904000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525860 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, "2019A-1", 0%, 7/01/2046 | 5509000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1357372 |
| Triborough Bridge & Tunnel Authority, NY, Sales Tax Rev. (TBTA Capital Lockbox - City Sales Tax), "A", 4%, 5/15/2057 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2796183 |

---

------

Portfolio of Investments (unaudited) – continued

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | &nbsp;&nbsp;&nbsp;**Value ($)** |
| Municipal Bonds – continued | Municipal Bonds – continued | Municipal Bonds – continued |
| Sales & Excise Tax Revenue – continued | Sales & Excise Tax Revenue – continued | Sales & Excise Tax Revenue – continued |
| Wisconsin Public Finance Authority Limited Obligation Grant Rev. (American Dream at Meadowlands Project), "A", 6.25%, 8/01/2027 (a)(d)(n) | $&nbsp;&nbsp;&nbsp;545000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$448851 |
| Wisconsin Public Finance Authority Limited Obligation Grant Rev., Taxable (American Dream at Meadowlands Project), "A", 5.625%, 8/01/2024 (a)(d)(n) | &nbsp;&nbsp;&nbsp;255000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214271 |
|  |  | &nbsp;&nbsp;&nbsp;$10247879 |
| Secondary Schools – 4.5% | Secondary Schools – 4.5% | Secondary Schools – 4.5% |
| Buffalo & Erie County, NY, Industrial Land Development Corp. Rev. (Charter School for Applied Technologies Project), "A", 5%, 6/01/2035 | $1000000 | &nbsp;&nbsp;&nbsp;&nbsp;$1019196 |
| Build NYC Resource Corp. Rev. (Academic Leadership Charter School Project), 4%, 6/15/2025 | &nbsp;&nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219542 |
| Build NYC Resource Corp. Rev. (Academic Leadership Charter School Project), 4%, 6/15/2029 | &nbsp;&nbsp;&nbsp;320000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316064 |
| Build NYC Resource Corp. Rev. (Academic Leadership Charter School Project), 4%, 6/15/2036 | &nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369212 |
| Build NYC Resource Corp. Rev. (Grand Concourse Academy Charter School Project), "A", 5%, 7/01/2042 | &nbsp;&nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555098 |
| Build NYC Resource Corp. Rev. (Grand Concourse Academy Charter School Project), "A", 5%, 7/01/2056 | &nbsp;&nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530586 |
| Build NYC Resource Corp. Rev. (International Leadership Charter School Project), 6%, 7/01/2043 | &nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747368 |
| Build NYC Resource Corp. Rev. (KIPP NYC Public Schools Facilities - Canal West Project), 5.25%, 7/01/2052 (w) | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2029569 |
| Build NYC Resource Corp. Rev. (New World Preparatory Charter School Project), "A", 4%, 6/15/2031 (n) | &nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327493 |
| Build NYC Resource Corp. Rev. (New World Preparatory Charter School Project), "A", 4%, 6/15/2041 (n) | &nbsp;&nbsp;&nbsp;610000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;493768 |
| Build NYC Resource Corp. Rev. (New World Preparatory Charter School Project), "A", 4%, 6/15/2051 (n) | &nbsp;&nbsp;&nbsp;735000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;542749 |
| Build NYC Resource Corp. Rev. (New World Preparatory Charter School Project), "A", 4%, 6/15/2056 (n) | &nbsp;&nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377190 |
| Build NYC Resource Corp. Rev. (Packer Collegiate Institute Project), 5%, 6/01/2040 | &nbsp;&nbsp;&nbsp;675000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;691534 |
| Rensselaer County, NY, Industrial Development Agency, Civic Facility Rev. (Emma Willard School Refunding Project), 5%, 1/01/2034 | &nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467689 |
| Rensselaer County, NY, Industrial Development Agency, Civic Facility Rev. (Emma Willard School Refunding Project), 5%, 1/01/2035 | &nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;519261 |
| Rensselaer County, NY, Industrial Development Agency, Civic Facility Rev. (Emma Willard School Refunding Project), 5%, 1/01/2036 | &nbsp;&nbsp;&nbsp;645000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;669340 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$9875659 |
| Single Family Housing - State – 0.9% | Single Family Housing - State – 0.9% | Single Family Housing - State – 0.9% |
| New York Mortgage Agency Homeowner Mortgage Rev., "211", 3.8%, 10/01/2048 | $&nbsp;&nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$399524 |
| New York Mortgage Agency Homeowner Mortgage Rev., "212", AMT, 3.7%, 10/01/2033 | &nbsp;&nbsp;&nbsp;335000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333748 |
| New York Mortgage Agency Homeowner Mortgage Rev., "217", 3.625%, 4/01/2039 | &nbsp;&nbsp;&nbsp;355000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343614 |
| New York Mortgage Agency Homeowner Mortgage Rev., "239", 3.25%, 10/01/2051 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;973410 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$2050296 |
| State & Local Agencies – 4.8% | State & Local Agencies – 4.8% | State & Local Agencies – 4.8% |
| Delaware Valley, PA, Regional Finance Authority, "C", FLR, 3.94% (67% of LIBOR - 3mo. + 0.75%), 6/01/2037 | $1430000 | &nbsp;&nbsp;&nbsp;&nbsp;$1124741 |
| New Jersey Economic Development Authority Rev. (School Facilities Construction), 4%, 6/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10031 |
| New Jersey Economic Development Authority Rev. (School Facilities Construction), 4%, 6/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34565 |
| New Jersey Economic Development Authority Rev. (School Facilities Construction), 4%, 6/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22548 |
| New York Dormitory Authority Rev., State Personal Income Tax Rev., 3%, 3/15/2050 | 1225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;922059 |
| New York Dormitory Authority Rev., State Personal Income Tax, "A", 3%, 3/15/2042 | 2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2027329 |
| New York Dormitory Authority Rev., State Personal Income Tax, "A" (Group C), 5%, 2/15/2037 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1047912 |
| New York, NY, Transitional Finance Authority Building Aid Rev., "S-3", 5%, 7/15/2043 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3161491 |
| Yonkers, NY, Industrial Development Agency, School Facility Rev. (New Community School Project), 5%, 5/01/2042 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2180158 |
|  |  | &nbsp;&nbsp;&nbsp;$10530834 |
| Tax - Other – 7.8% | Tax - Other – 7.8% | Tax - Other – 7.8% |
| Glen Cove, NY, Local Economic Assistance Corp. (Garvies Point Public Improvement Project), Capital Appreciation, "B", 0%, 1/01/2045 | $1995000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$479389 |
| Guam Government Limited Obligation Rev., "A", 5%, 12/01/2035 | &nbsp;&nbsp;&nbsp;190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194051 |
| Guam Government Limited Obligation Rev., "A", 5%, 12/01/2036 | &nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101854 |
| Guam Government Limited Obligation Rev., "A", 5%, 12/01/2046 | &nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300305 |
| Hudson Yards, NY, Infrastructure Corp. Rev., "A", 5%, 2/15/2042 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2108383 |
| New York, NY, Transitional Finance Authority Rev., "B-1", 5%, 8/01/2038 | 1175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1260518 |
| New York, NY, Transitional Finance Authority Rev., "B-1", 4%, 8/01/2042 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1903041 |
| New York, NY, Transitional Finance Authority Rev., "C-1", 4%, 5/01/2045 | 1800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1681354 |
| New York, NY, Transitional Finance Authority Rev., "E-1", 5%, 2/01/2043 | 2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2608552 |

---

------

Portfolio of Investments (unaudited) – continued

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | &nbsp;&nbsp;&nbsp;**Value ($)** |
| Municipal Bonds – continued | Municipal Bonds – continued | Municipal Bonds – continued |
| Tax - Other – continued | Tax - Other – continued | Tax - Other – continued |
| Triborough Bridge & Tunnel Authority Rev., NY, Payroll Mobility Tax (MTA Bridges and Tunnels), "A", 5%, 8/15/2024 | $3000000 | &nbsp;&nbsp;&nbsp;&nbsp;$3100206 |
| Triborough Bridge & Tunnel Authority Rev., NY, Payroll Mobility Tax (MTA Bridges and Tunnels), "A-1", 4%, 5/15/2046 | 3350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3113916 |
| Wisconsin Public Finance Authority Limited Obligation PILOT Rev. (American Dream at Meadowlands Project), 7%, 12/01/2050 | &nbsp;&nbsp;&nbsp;165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135603 |
|  |  | &nbsp;&nbsp;&nbsp;$16987172 |
| Tobacco – 2.2% | Tobacco – 2.2% | Tobacco – 2.2% |
| Golden State, CA, Tobacco Securitization Corp., Tobacco Settlement Rev., Taxable, "B-1", 3.85%, 6/01/2050 | $&nbsp;&nbsp;&nbsp;830000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$733832 |
| New York Counties Tobacco Trust II, 5.625%, 6/01/2035 | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20356 |
| Suffolk, NY, Tobacco Asset Securitization Corp., Tobacco Settlement, "B-1", 4%, 6/01/2050 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1925717 |
| Tobacco Settlement Asset Securitization Corp., NY, "A", 5%, 6/01/2035 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020828 |
| Tobacco Settlement Asset Securitization Corp., NY, "A", 5%, 6/01/2036 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019040 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$4719773 |
| Toll Roads – 1.1% | Toll Roads – 1.1% | Toll Roads – 1.1% |
| New York Thruway Authority General Rev., Junior Indebtedness Obligations, "A", 5.25%, 1/01/2056 | $2000000 | &nbsp;&nbsp;&nbsp;&nbsp;$2066966 |
| Texas Private Activity Surface Transportation Corp., Senior Lien Rev. (NTE Mobility Partners Segments 3 LLC Segments 3A & 3B Facility), 7%, 12/31/2038 | &nbsp;&nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208787 |
| Texas Private Activity Surface Transportation Corp., Senior Lien Rev. (NTE Mobility Partners Segments 3 LLC Segments 3A & 3B Facility), 6.75%, 6/30/2043 | &nbsp;&nbsp;&nbsp;170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172701 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$2448454 |
| Transportation - Special Tax – 6.1% | Transportation - Special Tax – 6.1% | Transportation - Special Tax – 6.1% |
| Metropolitan Transportation Authority, NY, Refunding Rev. (Climate Bond Certified), "A-2", AGM, 5%, 11/15/2044 | $3000000 | &nbsp;&nbsp;&nbsp;&nbsp;$3093550 |
| Metropolitan Transportation Authority, NY, Refunding Rev. (Climate Bond Certified), "C-1", 4%, 11/15/2037 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;906551 |
| Metropolitan Transportation Authority, NY, Refunding Rev. (Climate Bond Certified), "E", 4%, 11/15/2045 | 1340000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1131725 |
| Metropolitan Transportation Authority, NY, Refunding Rev.(Climate Bond Certified), "E", 5%, 11/15/2033 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2067131 |
| Metropolitan Transportation Authority, NY, Transportation Rev., "A", 4%, 11/15/2052 | 3170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2543240 |
| Metropolitan Transportation Authority, NY, Transportation Rev., "A-2", FLR, 3.681% (67% of SOFR + 0.8%), 11/01/2032 (Put Date 4/01/2026) | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1448863 |
| New Jersey Transportation Trust Fund Authority, "AA", 5%, 6/15/2037 | &nbsp;&nbsp;&nbsp;135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143225 |
| New Jersey Transportation Trust Fund Authority, "AA", 4%, 6/15/2040 | &nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73059 |
| New Jersey Transportation Trust Fund Authority, "AA", 4%, 6/15/2045 | &nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122256 |
| New Jersey Transportation Trust Fund Authority, "AA", 5%, 6/15/2050 | &nbsp;&nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106226 |
| New Jersey Transportation Trust Fund Authority, "CC", 5.5%, 6/15/2050 | &nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133680 |
| New Jersey Transportation Trust Fund Authority, Transportation Program, "A", 5%, 12/15/2039 | &nbsp;&nbsp;&nbsp;185000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191846 |
| New Jersey Transportation Trust Fund Authority, Transportation Program, "BB", 5%, 6/15/2044 | &nbsp;&nbsp;&nbsp;185000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188159 |
| New York Transportation Development Corp., Exempt Facility Rev. (State Thruway Service Areas Project), 4%, 10/31/2046 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;841947 |
| New York Transportation Development Corp., Exempt Facility Rev. (State Thruway Service Areas Project), 4%, 4/30/2053 | &nbsp;&nbsp;&nbsp;435000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353245 |
|  |  | &nbsp;&nbsp;&nbsp;$13344703 |
| Universities - Colleges – 11.2% | Universities - Colleges – 11.2% | Universities - Colleges – 11.2% |
| Albany, NY, Capital Resource Corp. Rev. (Albany College of Pharmacy Project), "A", 5%, 12/01/2033 | $&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$126363 |
| Build NYC Resource Corp. Rev. (Albert Einstein School of Medicine, Inc.), 5.5%, 9/01/2045 (n) | 1080000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1071937 |
| Build NYC Resource Corp. Rev. (Manhattan College Project), 5%, 8/01/2047 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2040520 |
| Dobbs Ferry, NY, Local Development Corp. (Mercy College Project), 5%, 7/01/2039 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1017151 |
| Dutchess County, NY, Local Development Corp. Rev. (Vassar College Project), 5%, 7/01/2042 | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1566696 |
| Hempstead, NY, Local Development Corp. Rev. (Hofstra University Project), 5%, 7/01/2047 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2047262 |
| Hempstead, NY, Local Development Corp. Rev. (Hofstra University Project), "A", 3%, 7/01/2051 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2157613 |
| Hempstead, NY, Local Development Corp. Rev. (Molloy College Project), 5%, 7/01/2036 | &nbsp;&nbsp;&nbsp;675000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690914 |
| Hempstead, NY, Local Development Corp. Rev. (Molloy College Project), 5%, 7/01/2038 | &nbsp;&nbsp;&nbsp;480000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;488118 |
| Miami-Dade County, FL, Educational Facilities Authority Rev. (University of Miami), "B", 5.25%, 4/01/2029 | 1325000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1468192 |
| Monroe County, NY, Industrial Development Corp. Rev. (University of Rochester Project), "A", 5%, 7/01/2030 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1049230 |
| Monroe County, NY, Industrial Development Corp. Rev. (University of Rochester Project), "A", 5%, 7/01/2037 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1075125 |
| Monroe County, NY, Industrial Development Corp. Rev. (University of Rochester Project), "A", 4%, 7/01/2050 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1858566 |
| New York Dormitory Authority Rev. (New York University), "A", 4%, 7/01/2041 | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1448262 |
| New York Dormitory Authority Rev. (Rochester Institute of Technology), "A", 5%, 7/01/2042 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2189598 |
| New York Dormitory Authority Rev. (Teachers College), 4%, 7/01/2040 | &nbsp;&nbsp;&nbsp;785000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;767682 |
| Oneida County, NY, Local Development Corp. Rev. (Hamilton College Project), 5%, 7/01/2051 | &nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;844092 |
| Schenectady County, NY, Capital Resource Corp. Tax-Exempt Rev. (Union College Project), 5%, 1/01/2047 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2054966 |

---

------

Portfolio of Investments (unaudited) – continued

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | &nbsp;&nbsp;&nbsp;**Value ($)** |
| Municipal Bonds – continued | Municipal Bonds – continued | Municipal Bonds – continued |
| Universities - Colleges – continued | Universities - Colleges – continued | Universities - Colleges – continued |
| St. Lawrence County, NY, Industrial Development Agency Rev. (Clarkson University), "B", 5%, 9/01/2038 | $&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;$104210 |
| St. Lawrence County, NY, Industrial Development Agency Rev. (Clarkson University), "B", 5%, 9/01/2039 | &nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207878 |
| St. Lawrence County, NY, Industrial Development Agency Rev. (Clarkson University), "B", 5%, 9/01/2040 | &nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155368 |
| St. Lawrence County, NY, Industrial Development Agency Rev. (Clarkson University), "B", 5%, 9/01/2041 | &nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103462 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$24533205 |
| Universities - Dormitories – 1.5% | Universities - Dormitories – 1.5% | Universities - Dormitories – 1.5% |
| Amherst, NY, Development Corp., Student Housing Facility Refunding Rev. (UBF Facility/Student Housing Corp./Greiner and Hadley Projects at SUNY Buffalo), "A", AGM, 5%, 10/01/2045 | $1000000 | &nbsp;&nbsp;&nbsp;$1059608 |
| Onondaga County, NY, Trust for Cultural Resources Rev. (Abby Lane Housing Corp. Project), 5%, 5/01/2040 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1007273 |
| Westchester County, NY, Local Development Corp. Rev. (Purchase Housing Corp. II Project), 5%, 6/01/2042 | 1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1252391 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3319272 |
| Utilities - Municipal Owned – 1.2% | Utilities - Municipal Owned – 1.2% | Utilities - Municipal Owned – 1.2% |
| Guam Power Authority Rev., "A", AGM, 5%, 10/01/2039 | $&nbsp;&nbsp;&nbsp;155000 | &nbsp;&nbsp;&nbsp;$159268 |
| Guam Power Authority Rev., "A", AGM, 5%, 10/01/2044 | &nbsp;&nbsp;&nbsp;180000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184553 |
| Puerto Rico Electric Power Authority Refunding Rev., "DDD", 5%, 7/01/2020 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18000 |
| Puerto Rico Electric Power Authority Refunding Rev., "DDD", 5%, 7/01/2021 (a)(d) | &nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190800 |
| Puerto Rico Electric Power Authority Refunding Rev., "DDD", 5%, 7/01/2022 (a)(d) | &nbsp;&nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309600 |
| Puerto Rico Electric Power Authority Rev., "A", 5%, 7/01/2029 (a)(d) | &nbsp;&nbsp;&nbsp;675000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;492750 |
| Puerto Rico Electric Power Authority Rev., "A", 5%, 7/01/2042 (a)(d) | &nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73000 |
| Puerto Rico Electric Power Authority Rev., "AAA", 5.25%, 7/01/2021 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36125 |
| Puerto Rico Electric Power Authority Rev., "AAA", 5.25%, 7/01/2030 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18313 |
| Puerto Rico Electric Power Authority Rev., "CCC", 5.25%, 7/01/2027 (a)(d) | &nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183125 |
| Puerto Rico Electric Power Authority Rev., "TT", 5%, 7/01/2021 (a)(d) | &nbsp;&nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82800 |
| Puerto Rico Electric Power Authority Rev., "TT", 5%, 7/01/2023 (a)(d) | &nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80300 |
| Puerto Rico Electric Power Authority Rev., "TT", 5%, 7/01/2027 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14600 |
| Puerto Rico Electric Power Authority Rev., "TT", 5%, 7/01/2037 (a)(d) | &nbsp;&nbsp;&nbsp;345000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251850 |
| Puerto Rico Electric Power Authority Rev., "VV", NPFG, 5.25%, 7/01/2034 | &nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29862 |
| Puerto Rico Electric Power Authority Rev., "WW", 5.375%, 7/01/2022 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14525 |
| Puerto Rico Electric Power Authority Rev., "WW", 5.25%, 7/01/2025 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36625 |
| Puerto Rico Electric Power Authority Rev., "ZZ", 5%, 7/01/2018 (a)(d) | &nbsp;&nbsp;&nbsp;170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122400 |
| Puerto Rico Electric Power Authority Rev., "ZZ", 5.25%, 7/01/2023 (a)(d) | &nbsp;&nbsp;&nbsp;180000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131850 |
| Puerto Rico Electric Power Authority Rev., "ZZ", 5.25%, 7/01/2024 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40287 |
| Puerto Rico Electric Power Authority Rev., "ZZ", 5.25%, 7/01/2026 (a)(d) | &nbsp;&nbsp;&nbsp;170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124525 |
| Puerto Rico Electric Power Authority Rev., Taxable, "EEE", 6.05%, 7/01/2032 (a)(d) | &nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101850 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2697008 |
| Utilities - Other – 1.5% | Utilities - Other – 1.5% | Utilities - Other – 1.5% |
| Black Belt Energy Gas District, AL, Gas Project Rev., "C-1", 5.25%, 2/01/2053 (Put Date 6/01/2029) | $1265000 | &nbsp;&nbsp;&nbsp;$1318662 |
| Public Authority for Colorado Energy Natural Gas Purchase Rev., 6.5%, 11/15/2038 | 1085000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1271003 |
| Tennergy Corp., TN, Gas Supply Rev., "A", 5.5%, 10/01/2053 (Put Date 12/01/2030) | &nbsp;&nbsp;&nbsp;705000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;745813 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3335478 |
| Water & Sewer Utility Revenue – 4.4% | Water & Sewer Utility Revenue – 4.4% | Water & Sewer Utility Revenue – 4.4% |
| Great Neck North, NY, Water Authority System Rev., 3%, 11/01/2044 | $1340000 | &nbsp;&nbsp;&nbsp;$1074808 |
| Guam Waterworks Authority Rev. (Water and Wastewater System), 5%, 7/01/2036 | &nbsp;&nbsp;&nbsp;215000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218493 |
| Guam Waterworks Authority Rev. (Water and Wastewater System), 5%, 7/01/2037 | &nbsp;&nbsp;&nbsp;270000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273339 |
| Guam Waterworks Authority Rev. (Water and Wastewater System), 5%, 7/01/2040 | &nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;753419 |
| Guam Waterworks Authority Rev. (Water and Wastewater System), "A", 5%, 1/01/2050 | &nbsp;&nbsp;&nbsp;345000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341923 |
| Mississippi Development Bank Special Obligation (Jackson Water and Sewer System Rev. Bond Project), AGM, 6.875%, 12/01/2040 | &nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102421 |
| New York Environmental Facilities Corp., Clean Water & Drinking Water Rev. (New York City Municipal Water Finance Authority Project), "B", 5%, 6/15/2043 | 3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3737138 |
| New York, NY, Municipal Water Finance Authority, Water & Sewer System Rev., "BB", 5%, 6/15/2046 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1040773 |
| New York, NY, Municipal Water Finance Authority, Water & Sewer System Rev., "DD", 5%, 6/15/2034 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2011441 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9553755 |
| **Total Municipal Bonds** |  | &nbsp;&nbsp;**$213783629** |

---

------

Portfolio of Investments (unaudited) – continued

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | &nbsp;&nbsp;&nbsp;**Value ($)** |
| Bonds – 0.3% | Bonds – 0.3% | Bonds – 0.3% |
| Consumer Services – 0.3% | Consumer Services – 0.3% | Consumer Services – 0.3% |
| Toll Road Investors Partnership II LP, Capital Appreciation, NPFG, 0%, 2/15/2025 (n) | $&nbsp;&nbsp;&nbsp;415000 | &nbsp;&nbsp;&nbsp;$355532 |
| Toll Road Investors Partnership II LP, Capital Appreciation, NPFG, 0%, 2/15/2043 (n) | &nbsp;&nbsp;&nbsp;984164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249737 |
| **Total Bonds** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$605269** |
| Contingent Value Instruments – 0.1% | Contingent Value Instruments – 0.1% | Contingent Value Instruments – 0.1% |
| General Obligations - General Purpose – 0.1% | General Obligations - General Purpose – 0.1% | General Obligations - General Purpose – 0.1% |
| Commonwealth of Puerto Rico, General Obligation Contingent Value Instrument, 11/01/2043 | $&nbsp;&nbsp;&nbsp;514619 | &nbsp;&nbsp;&nbsp;$225146 |
| Investment Companies (h) – 2.0% | Investment Companies (h) – 2.0% | Investment Companies (h) – 2.0% |
| Money Market Funds – 2.0% | Money Market Funds – 2.0% |  |
| MFS Institutional Money Market Portfolio, 4.02% (v) | 4483908 | &nbsp;&nbsp;&nbsp;$4485253 |
| Other Assets, Less Liabilities – (0.0)% |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33633) |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp;&nbsp;**$219065664** |

---

(a) Non-income producing security.

(d) In default.

(h) An affiliated issuer, which may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. At period end,
the aggregate values of the fund's investments in affiliated issuers and in unaffiliated issuers were $4,485,253 and $214,614,044, respectively.

(n) Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in the ordinary course of business in transactions exempt from
registration, normally to qualified institutional buyers. At period end, the aggregate value of these securities was $9,909,167, representing 4.5% of net assets.

(v) Affiliated issuer that is available only to investment companies managed by MFS. The rate quoted for the MFS Institutional Money Market Portfolio is the annualized seven-day yield of
the fund at period end.

(w) When-issued security.

---

| | |
|:---|:---|
| The following abbreviations are used in this report and are defined: | The following abbreviations are used in this report and are defined: |
| AAC | Ambac Assurance Corp. |
| AGM | Assured Guaranty Municipal |
| BAM | Build America Mutual |
| FGIC | Financial Guaranty Insurance Co. |
| FHA | Federal Housing Administration |
| FLR | Floating Rate. Interest rate resets periodically based on the parenthetically disclosed reference rate plus a spread (if any). The period-end rate reported may not be the current rate. All reference rates are USD unless otherwise noted. |
| LIBOR | London Interbank Offered Rate |
| NPFG | National Public Finance Guarantee Corp. |
| SOFR | Secured Overnight Financing Rate |

---

See attached supplemental information. For more information see notes to financial statements as disclosed in the most recent semiannual or annual report.

------

### Supplemental Information
12/31/22 (unaudited)

The fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies.

(1) Investment Valuations

Subject to its oversight, the fund's Board of Trustees has delegated primary responsibility for determining or causing to be determined the value of the fund's investments to MFS as the fund's adviser, pursuant to the fund's valuation policy and procedures which have been adopted by the adviser and approved by the Board. Effective September 8, 2022, and in accordance with Rule 2a-5 under the Investment Company Act of 1940, the Board of Trustees designated the adviser as the "valuation designee" of the fund. If the adviser, as valuation designee, determines that reliable market quotations are not readily available for an investment, the investment is valued at fair value as determined in good faith by the adviser in accordance with the adviser's fair valuation policy and procedures.

Under the fund's valuation policy and procedures, debt instruments and floating rate loans, including restricted debt instruments, are generally valued at an evaluated or composite bid as provided by a third-party pricing service. Short-term instruments with a maturity at issuance of 60 days or less may be valued at amortized cost, which approximates market value. Open-end investment companies are generally valued at net asset value per share. The values of foreign securities and other assets and liabilities expressed in foreign currencies are converted to U.S. dollars using the mean of bid and asked prices for rates provided by a third-party pricing service.

Under the fund's valuation policy and procedures, market quotations are not considered to be readily available for debt instruments, floating rate loans, and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services or otherwise determined by the adviser in accordance with the adviser's fair valuation policy and procedures. Securities and other assets generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. In determining values, third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, spreads and other market data. An investment may also be valued at fair value if the adviser determines that the investment's value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of the fund's net asset value, or after the halt of trading of a specific security where trading does not resume prior to the close of the exchange or market on which the security is principally traded. The adviser generally relies on third-party pricing services or other information (such as the correlation with price movements of similar securities in the same or other markets; the type, cost and investment characteristics of the security; the business and financial condition of the issuer; and trading and other market data) to assist in determining whether to fair value and at what value to fair value an investment. The value of an investment for purposes of calculating the fund's net asset value can differ depending on the source and method used to determine value. When fair valuation is used, the value of an investment used to determine the fund's net asset value may differ from quoted or published prices for the same investment. There can be no assurance that the fund could obtain the fair value assigned to an investment if it were to sell the investment at the same time at which the fund determines its net asset value per share.

Various inputs are used in determining the value of the fund's assets or liabilities. These inputs are categorized into three broad levels. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fund's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes other significant observable market-based inputs (including quoted prices for similar securities, interest rates, prepayment speed, and credit risk). Level 3 includes significant unobservable inputs, which may include the adviser's own assumptions in determining the fair value of investments. The following is a summary of the levels used as of December 31, 2022 in valuing the fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Financial Instruments** | &nbsp;&nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;&nbsp;**Total** |
| Municipal Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$214008775 | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$214008775 |
| U.S. Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605269 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605269 |
| Mutual Funds | &nbsp;&nbsp;&nbsp;&nbsp;4485253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4485253 |
| Total | &nbsp;&nbsp;&nbsp;$4485253 | &nbsp;&nbsp;&nbsp;$214614044 | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$219099297 |

---

For further information regarding security characteristics, see the Portfolio of Investments.

(2) Investments in Affiliated Issuers

An affiliated issuer may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. For the purposes of this report, the following were affiliated issuers:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated Issuers** | &nbsp;&nbsp;**Beginning<br> Value** | &nbsp;&nbsp;**Purchases** | &nbsp;&nbsp;**Sales<br> Proceeds** | &nbsp;&nbsp;**Realized<br> Gain<br> (Loss)** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation or<br> Depreciation** | &nbsp;&nbsp;**Ending<br> Value** |
| MFS Institutional Money Market Portfolio | &nbsp;&nbsp;$5439822 | &nbsp;&nbsp;$65593431 | &nbsp;&nbsp;$66548457 | &nbsp;&nbsp;$(746) | &nbsp;&nbsp;$1203 | &nbsp;&nbsp;$4485253 |

---

------

Supplemental Information (unaudited) – continued

---

| | | |
|:---|:---|:---|
| **Affiliated Issuers** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Capital Gain<br> Distributions** |
| MFS Institutional Money Market Portfolio | &nbsp;&nbsp;$100441 | &nbsp;&nbsp;$— |

---

(3) Jurisdiction Weightings

Jurisdiction weighting percentages based on net assets, as of December 31, 2022, are as follows:

---

| | |
|:---|:---|
| New York | 85.1% |
| Puerto Rico | 4.3% |
| Guam | 1.6% |
| California | 1.3% |
| Tennessee | 1.0% |
| Illinois | 0.8% |
| Michigan | 0.8% |
| Florida | 0.7% |
| Alabama | 0.6% |
| Colorado | 0.6% |
| Pennsylvania | 0.5% |
| New Jersey | 0.5% |
| Wisconsin | 0.4% |
| Texas | 0.3% |
| New Hampshire | 0.3% |
| Virginia | 0.3% |
| Indiana | 0.1% |
| Mississippi (o) | 0.0% |
| U.S. Virgin Islands (o) | 0.0% |

---

(o) Less than 0.1%.

The jurisdiction weighting percentages include both accrued interest amounts and equivalent exposure from any derivatives holdings, if applicable.

(4) Russia and Ukraine Conflict

The market disruptions, which began in late February 2022, associated with geopolitical events related to the conflict between Russia and Ukraine may adversely affect the value of the fund's assets and thus the fund's performance. Management continues to monitor these events and to evaluate the related impacts, if any, to the fund.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** MFS Municipal Series Trust

- **b. Investment Company Act file number:** 811-04096

- **c. CIK number of Registrant:** 0000751656

- **d. LEI of Registrant:** 5493001Q9KE7H84Z5340

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

  - **Street Address 1:** 111 Huntington Avenue

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02199

  - **Telephone number:** 617-954-5000

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

- **a. Name of Series:** MFS New York Municipal Bond Fund

- **b. EDGAR series identifier (if any):** S000002522

- **c. LEI of Series:** VBDLXONWHCNFU9SKO405

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

- **a. Date of fiscal year-end:** 2023-03-31

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $221916189.83

**Total Liabilities:** $2850530.03

**Net Assets:** $219065659.80

**Delayed Delivery Securities:** $2063320.00

**Cash Not Reported:** $12912.50

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -255.07959310 | **1-Year:** -6539.01661480 | **5-Year:** -35262.68157800 | **10-Year:** -68277.42401670 | **30-Year:** -26516.51259260

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

- **3-Month:** -54.82409860 | **1-Year:** -1596.46263200 | **5-Year:** -5239.39652440 | **10-Year:** -8802.58211370 | **30-Year:** -3150.28961140

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000169759 | -1.51%               | 5.85%                | -0.40%               |
| Class ID C000194228 | -1.50%               | 5.86%                | -0.51%               |
| Class ID C000006961 | -1.59%               | 5.77%                | -0.51%               |
| Class ID C000006960 | -1.60%               | 5.78%                | -0.51%               |
| Class ID C000006959 | -1.42%               | 5.72%                | -0.45%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1521290.08             | $-2375669.14                               |
| Month 2  | $-1083765.98             | $12882509.61                               |
| Month 3  | $-309669.31              | $-1239590.21                               |

### Schedule of Portfolio Investments

| Name                                                                    | Title                                                                   | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| New York City Transitional Finance Authority Future Tax Secured Revenue | New York City Transitional Finance Authority Future Tax Secured         | CUSIP: 64971XQM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1681353.90   | 0.77%             | 2045-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                    | Triborough Bridge & Tunnel Authority                                    | CUSIP: 89602HDT1<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3100205.70   | 1.42%             | 2024-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp.                                 | New York City Housing Development Corp.                                 | CUSIP: 64966TFJ8<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    750000 | PA      | $735853.88    | 0.34%             | 2048-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                    | Puerto Rico Electric Power Authority                                    | CUSIP: 74526QXP2<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |     55000 | PA      | $40287.50     | 0.02%             | 2024-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                          | New Jersey Transportation Trust Fund Authority                          | CUSIP: 6461367H8<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |     80000 | PA      | $73059.30     | 0.03%             | 2040-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Niagara Frontier Transportation Authority                               | Niagara Frontier Transportation Authority                               | CUSIP: 653544DF0<br>LEI: 2549006J37UHUDTNJV60 | Long             | DBT              | MUN               | US        |    500000 | PA      | $507254.60    | 0.23%             | 2029-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                | Public Finance Authority                                                | CUSIP: 74446EAC0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    255000 | PA      | $214270.53    | 0.10%             | 2024-08-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Hempstead Town Local Development Corp.                                  | Hempstead Town Local Development Corp.                                  | CUSIP: 424682LY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2157613.20   | 0.98%             | 2051-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Territory of Guam                                                       | Territory of Guam                                                       | CUSIP: 40065HDV9<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |    300000 | PA      | $300304.77    | 0.14%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                    | Triborough Bridge & Tunnel Authority                                    | CUSIP: 89602HAA5<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   3350000 | PA      | $3113916.12   | 1.42%             | 2046-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Rensselaer County Industrial Development Agency                         | Rensselaer County Industrial Development Agency                         | CUSIP: 759921ES4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $519261.25    | 0.24%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                          | New Jersey Transportation Trust Fund Authority                          | CUSIP: 6461366M8<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    185000 | PA      | $191846.13    | 0.09%             | 2039-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Environmental Facilities Corp.                           | New York State Environmental Facilities Corp.                           | CUSIP: 64986DHT5<br>LEI: 549300QJ33JJW73OQO60 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3737138.30   | 1.71%             | 2043-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                      | New York State Dormitory Authority                                      | CUSIP: 64990FYK4<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2027329.00   | 0.93%             | 2042-03-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                               | New York Transportation Development Corp.                               | CUSIP: 650116CW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $986228.20    | 0.45%             | 2036-08-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Rensselaer County Industrial Development Agency                         | Rensselaer County Industrial Development Agency                         | CUSIP: 759921ET2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    645000 | PA      | $669339.91    | 0.31%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                    | Puerto Rico Electric Power Authority                                    | CUSIP: 74526QKV3<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |     20000 | PA      | $14600.00     | 0.01%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp.                                 | New York City Housing Development Corp.                                 | CUSIP: 64972EW21<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2263096.75   | 1.03%             | 2052-11-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                 | Puerto Rico Sales Tax Financing Corp. Sales Tax                         | CUSIP: 74529JRK3<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |      4000 | PA      | $3410.25      | 0.00%             | 2053-07-01      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| State of New York Mortgage Agency                                       | State of New York Mortgage Agency                                       | CUSIP: 6498834X0<br>LEI: 549300ZQWNLLIG564027 | Long             | DBT              | MUN               | US        |    430000 | PA      | $399524.27    | 0.18%             | 2048-10-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                 | Puerto Rico Sales Tax Financing Corp. Sales Tax                         | CUSIP: 74529JQE8<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    942000 | PA      | $613639.43    | 0.28%             | 2031-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Monroe County Industrial Development Corp. NY                           | Monroe County Industrial Development Corp.                              | CUSIP: 61075TMA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1049229.50   | 0.48%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Amherst Development Corp.                                               | Amherst Development Corp.                                               | CUSIP: 031358BR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1059608.50   | 0.48%             | 2045-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MFS Institutional Money Market Portfolio                                | MFS Institutional Money Market Portfolio, Class A                       | CUSIP: 55291X109<br>LEI: 5L2W638H85N8T1136O07 | Long             | STIV             | RF                | US        |   4462651 | NS      | $4463989.57   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                          | New Jersey Transportation Trust Fund Authority                          | CUSIP: 6461365N7<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    185000 | PA      | $188158.78    | 0.09%             | 2044-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dutchess County Local Development Corp.                                 | Dutchess County Local Development Corp.                                 | CUSIP: 267045JX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1566696.30   | 0.72%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Industrial Development Agency                             | New York City Industrial Development Agency                             | CUSIP: 64972PAL8<br>LEI: 549300XR20ZR5DHL9534 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3000972.90   | 1.37%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port Beaumont Navigation District                                       | Port Beaumont Navigation District                                       | CUSIP: 73360CAM6<br>LEI: 549300G8PKBXALUKJY33 | Long             | DBT              | MUN               | US        |    255000 | PA      | $166970.91    | 0.08%             | 2041-01-01      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| New York Transportation Development Corp.                               | New York Transportation Development Corp.                               | CUSIP: 650116CP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1983786.00   | 0.91%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                    | Puerto Rico Electric Power Authority                                    | CUSIP: 74526QZN5<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    430000 | PA      | $309600.00    | 0.14%             | 2022-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oneida County Local Development Corp.                                   | Oneida County Local Development Corp.                                   | CUSIP: 682440BH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $943932.60    | 0.43%             | 2038-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Toll Road Investors Partnership II LP                                   | Toll Road Investors Partnership II LP                                   | CUSIP: 88948ABA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    415000 | PA      | $355531.69    | 0.16%             | 2025-02-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| New York State Housing Finance Agency                                   | New York State Housing Finance Agency                                   | CUSIP: 64987DSV7<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   1015000 | PA      | $940591.87    | 0.43%             | 2043-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                                | Build NYC Resource Corp.                                                | CUSIP: 12008ERL2<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    320000 | PA      | $316064.13    | 0.14%             | 2029-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                               | Indiana Finance Authority                                               | CUSIP: 45506DGY5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    205000 | PA      | $206531.66    | 0.09%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp.                                 | New York City Housing Development Corp.                                 | CUSIP: 64966TFH2<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    276686 | PA      | $269186.26    | 0.12%             | 2048-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Territory of Guam                                                       | Territory of Guam                                                       | CUSIP: 40065NCN5<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |     15000 | PA      | $15950.36     | 0.01%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Guam Government Waterworks Authority                                    | Guam Government Waterworks Authority                                    | CUSIP: 40065FDE1<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |    750000 | PA      | $753418.95    | 0.34%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| St Lawrence County Industrial Development Agency                        | St Lawrence County Industrial Development Agency                        | CUSIP: 791078DK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $207878.18    | 0.09%             | 2039-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                             | Commonwealth of Puerto Rico                                             | CUSIP: 74514L3H8<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    118007 | PA      | $120746.27    | 0.06%             | 2029-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                 | Puerto Rico Sales Tax Financing Corp. Sales Tax                         | CUSIP: 74529JQD0<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |     17000 | PA      | $12388.65     | 0.01%             | 2029-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Syracuse Industrial Development Agency                                  | Syracuse Industrial Development Agency                                  | CUSIP: 87172NBB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $555460.88    | 0.25%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                    | Puerto Rico Electric Power Authority                                    | CUSIP: 74526QXU1<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |     50000 | PA      | $36125.00     | 0.02%             | 2021-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Great Neck North Water Authority                                        | Great Neck North Water Authority                                        | CUSIP: 391003DA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1340000 | PA      | $1074808.10   | 0.49%             | 2044-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                      | New York State Dormitory Authority                                      | CUSIP: 65000BWK0<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2189598.00   | 1.00%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                          | New Jersey Transportation Trust Fund Authority                          | CUSIP: 6461367M7<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    105000 | PA      | $106226.35    | 0.05%             | 2050-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                                | Build NYC Resource Corp.                                                | CUSIP: 12008ERP3<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    400000 | PA      | $369212.52    | 0.17%             | 2036-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Territory of Guam                                                       | Territory of Guam                                                       | CUSIP: 40065NCP0<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |     20000 | PA      | $21385.53     | 0.01%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Niagara Frontier Transportation Authority                               | Niagara Frontier Transportation Authority                               | CUSIP: 653544DE3<br>LEI: 2549006J37UHUDTNJV60 | Long             | DBT              | MUN               | US        |    650000 | PA      | $659545.38    | 0.30%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                      | New York State Dormitory Authority                                      | CUSIP: 65000BCS5<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    785000 | PA      | $767681.88    | 0.35%             | 2040-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                          | New Jersey Transportation Trust Fund Authority                          | CUSIP: 6461367J4<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    140000 | PA      | $122255.80    | 0.06%             | 2045-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Sales Tax Securitization Corp.                                          | Sales Tax Securitization Corp.                                          | CUSIP: 79467BCZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $37820.88     | 0.02%             | 2039-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Guam Power Authority                                                    | Guam Power Authority                                                    | CUSIP: 400653HP9<br>LEI: 549300IPOV320QCKW060 | Long             | DBT              | MUN               | GU        |    180000 | PA      | $184552.78    | 0.08%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Village of Bridgeview IL                                                | Village of Bridgeview                                                   | CUSIP: 108555GG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    615000 | PA      | $545693.74    | 0.25%             | 2036-12-01      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                    | Puerto Rico Electric Power Authority                                    | CUSIP: 74526QXR8<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    170000 | PA      | $124525.00    | 0.06%             | 2026-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| St Lawrence County Industrial Development Agency                        | St Lawrence County Industrial Development Agency                        | CUSIP: 791078DL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $155367.99    | 0.07%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Delaware Valley Regional Finance Authority                              | Delaware Valley Regional Finance Authority                              | CUSIP: 246579JK3<br>LEI: 549300HGYP3NW885TT18 | Long             | DBT              | MUN               | US        |   1430000 | PA      | $1124740.90   | 0.51%             | 2037-06-01      | Floating      | 3.94%                 | No            |                  2 | On Loan: No      |
| Dobbs Ferry Local Development Corp.                                     | Dobbs Ferry Local Development Corp.                                     | CUSIP: 256048AB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1017151.40   | 0.46%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp.                                 | New York City Housing Development Corp.                                 | CUSIP: 64972E2Z1<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000535.70   | 0.46%             | 2042-11-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Sales Tax Securitization Corp.                                          | Sales Tax Securitization Corp.                                          | CUSIP: 79467BCY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     55000 | PA      | $53019.21     | 0.02%             | 2038-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Monroe County Industrial Development Corp. NY                           | Monroe County Industrial Development Corp.                              | CUSIP: 61075TUV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1858565.80   | 0.85%             | 2050-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Niagara Frontier Transportation Authority                               | Niagara Frontier Transportation Authority                               | CUSIP: 653544EE2<br>LEI: 2549006J37UHUDTNJV60 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1028575.30   | 0.47%             | 2038-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Guam Power Authority                                                    | Guam Power Authority                                                    | CUSIP: 400653HN4<br>LEI: 549300IPOV320QCKW060 | Long             | DBT              | MUN               | GU        |    155000 | PA      | $159267.93    | 0.07%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority Sales Tax Revenue                  | Triborough Bridge & Tunnel Authority Sales Tax                          | CUSIP: 896035BF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2796182.70   | 1.28%             | 2057-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Nassau County Local Economic Assistance Corp.                           | Nassau County Local Economic Assistance Corp.                           | CUSIP: 63166LDJ7<br>LEI: 549300FCI13UFG0Y6Y37 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1021643.30   | 0.47%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                     | City of New York                                                        | CUSIP: 64966QAU4<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2143473.80   | 0.98%             | 2038-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                                | Build NYC Resource Corp.                                                | CUSIP: 12008HAB5<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    545000 | PA      | $549609.45    | 0.25%             | 2025-01-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                 | Puerto Rico Sales Tax Financing Corp. Sales Tax                         | CUSIP: 74529JPV1<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |     63000 | PA      | $57797.33     | 0.03%             | 2040-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                         | New York City Municipal Water Finance Authority                         | CUSIP: 64972GBW3<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2011440.80   | 0.92%             | 2034-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                               | New York Transportation Development Corp.                               | CUSIP: 650116CN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006574.90   | 0.46%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                    | Puerto Rico Electric Power Authority                                    | CUSIP: 74526QZM7<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    265000 | PA      | $190800.00    | 0.09%             | 2021-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp.                                      | New York Liberty Development Corp.                                      | CUSIP: 649519EN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1427633.60   | 0.65%             | 2044-02-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| New York State Thruway Authority                                        | New York State Thruway Authority                                        | CUSIP: 650010BD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2066965.80   | 0.94%             | 2056-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                             | Commonwealth of Puerto Rico                                             | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    514619 | PA      | $225145.82    | 0.10%             | 2043-11-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                        | California Health Facilities Financing Authority                        | CUSIP: 13032UB49<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2125334.40   | 0.97%             | 2051-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of New York Mortgage Agency                                       | State of New York Mortgage Agency                                       | CUSIP: 64988YMZ7<br>LEI: 549300ZQWNLLIG564027 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $973410.30    | 0.44%             | 2051-10-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                                | Build NYC Resource Corp.                                                | CUSIP: 12008ETX4<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2029568.60   | 0.93%             | 2052-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                    | Puerto Rico Electric Power Authority, Series WW                         | CUSIP: 74526QUY6<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |     20000 | PA      | $14525.00     | 0.01%             | 2022-07-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                | New Hampshire Business Finance Authority                                | CUSIP: 63607WAC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    659641 | PA      | $636959.70    | 0.29%             | 2036-09-20      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                 | Puerto Rico Sales Tax Financing Corp. Sales Tax                         | CUSIP: 74529JQB4<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |      5000 | PA      | $4664.09      | 0.00%             | 2024-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp.                                 | New York City Housing Development Corp.                                 | CUSIP: 64972E3A5<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    500000 | PA      | $497503.10    | 0.23%             | 2047-11-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Golden State Tobacco Securitization Corp.                               | Golden State Tobacco Securitization Corp.                               | CUSIP: 38122ND82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    830000 | PA      | $733832.30    | 0.33%             | 2050-06-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                                | Build NYC Resource Corp.                                                | CUSIP: 12008ERG3<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    220000 | PA      | $219541.54    | 0.10%             | 2025-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Texas Private Activity Bond Surface Transportation Corp.                | Texas Private Activity Bond Surface Transportation Corp.                | CUSIP: 882667AH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    170000 | PA      | $172700.89    | 0.08%             | 2043-06-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| County of Nassau NY                                                     | County of Nassau                                                        | CUSIP: 63165TG90<br>LEI: 549300ICRCGQYCPS7T40 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3224390.10   | 1.47%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Buffalo & Erie County Industrial Land Development Corp.                 | Buffalo & Erie County Industrial Land Development Corp.                 | CUSIP: 11943KBS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $275851.86    | 0.13%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Suffolk Tobacco Asset Securitization Corp.                              | Suffolk Tobacco Asset Securitization Corp.                              | CUSIP: 864809CC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1925717.40   | 0.88%             | 2050-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Housing Finance Agency                                   | New York State Housing Finance Agency                                   | CUSIP: 64987JXQ9<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1214831.40   | 0.55%             | 2057-11-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Port Beaumont Navigation District                                       | Port Beaumont Navigation District                                       | CUSIP: 73360CAC8<br>LEI: 549300G8PKBXALUKJY33 | Long             | DBT              | MUN               | US        |    200000 | PA      | $160536.64    | 0.07%             | 2035-01-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| City of New York NY                                                     | City of New York                                                        | CUSIP: 64966EPZ4<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |      5000 | PA      | $5009.79      | 0.00%             | 2026-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Miami-Dade County Educational Facilities Authority                      | Miami-Dade County Educational Facilities Authority                      | CUSIP: 59333AGS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1325000 | PA      | $1468192.35   | 0.67%             | 2029-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Yonkers NY                                                      | City of Yonkers                                                         | CUSIP: 986082W76<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $805480.95    | 0.37%             | 2042-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                    | Puerto Rico Electric Power Authority                                    | CUSIP: 74526QZL9<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |     25000 | PA      | $18000.00     | 0.01%             | 2020-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TSASC, Inc. NY                                                          | TSASC, Inc.                                                             | CUSIP: 898526FD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020827.90   | 0.47%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                    | Puerto Rico Electric Power Authority                                    | CUSIP: 74526QKR2<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    110000 | PA      | $80300.00     | 0.04%             | 2023-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                    | Puerto Rico Electric Power Authority                                    | CUSIP: 74526QPS5<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |     30000 | PA      | $29861.76     | 0.01%             | 2034-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York State Environmental Facilities Corp.                           | New York State Environmental Facilities Corp.                           | CUSIP: 649852AS9<br>LEI: 549300QJ33JJW73OQO60 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $941697.10    | 0.43%             | 2050-09-01      | Variable      | 2.75%                 | Yes           |                  2 | On Loan: No      |
| Public Finance Authority                                                | Public Finance Authority                                                | CUSIP: 74446HAD1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    165000 | PA      | $135602.41    | 0.06%             | 2050-12-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Knox County Health Educational & Housing Facility Board                 | Knox County Health Educational & Housing Facility Board                 | CUSIP: 49952MEH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1313604.38   | 0.60%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sales Tax Securitization Corp.                                          | Sales Tax Securitization Corp.                                          | CUSIP: 79467BDA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $57735.95     | 0.03%             | 2040-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Rensselaer County Industrial Development Agency                         | Rensselaer County Industrial Development Agency                         | CUSIP: 759921ER6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $467689.28    | 0.21%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                    | Puerto Rico Electric Power Authority, Series WW                         | CUSIP: 74526QVB5<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |     50000 | PA      | $36625.00     | 0.02%             | 2025-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                               | New Jersey Economic Development Authority                               | CUSIP: 64577XCL8<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |     35000 | PA      | $34565.09     | 0.02%             | 2035-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                   | Metropolitan Transportation Authority                                   | CUSIP: 59261AXS1<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3093550.20   | 1.41%             | 2044-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                                 | Port Authority of New York & New Jersey                                 | CUSIP: 73358WX74<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1913562.00   | 0.87%             | 2043-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                               | New York Transportation Development Corp.                               | CUSIP: 650116BP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $978374.40    | 0.45%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Westchester County Local Development Corp.                              | Westchester County Local Development Corp.                              | CUSIP: 95737TDU7<br>LEI: 549300KOSU8OC75V9238 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1252391.25   | 0.57%             | 2042-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Monroe County Industrial Development Corp. NY                           | Monroe County Industrial Development Corp.                              | CUSIP: 61075TPY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1075124.60   | 0.49%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of New York Mortgage Agency                                       | State of New York Mortgage Agency                                       | CUSIP: 64988YAB3<br>LEI: 549300ZQWNLLIG564027 | Long             | DBT              | MUN               | US        |    355000 | PA      | $343614.23    | 0.16%             | 2039-04-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                    | Puerto Rico Electric Power Authority                                    | CUSIP: 74526QYD8<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |     25000 | PA      | $18312.50     | 0.01%             | 2030-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                       | State of Illinois                                                       | CUSIP: 4521526L0<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    215000 | PA      | $221897.78    | 0.10%             | 2039-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                         | New York City Municipal Water Finance Authority                         | CUSIP: 64972GPJ7<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1040772.80   | 0.48%             | 2046-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                    | Puerto Rico Electric Power Authority                                    | CUSIP: 74526QZZ8<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    675000 | PA      | $492750.00    | 0.22%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hempstead Town Local Development Corp.                                  | Hempstead Town Local Development Corp.                                  | CUSIP: 424682HZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    480000 | PA      | $488118.05    | 0.22%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                             | Commonwealth of Puerto Rico                                             | CUSIP: 74514L3L9<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    184514 | PA      | $155284.90    | 0.07%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Wayne County Airport Authority                                          | Wayne County Airport Authority                                          | CUSIP: 944514QW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     90000 | PA      | $89434.58     | 0.04%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                   | Metropolitan Transportation Authority                                   | CUSIP: 59261AQL4<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $906550.70    | 0.41%             | 2037-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                | Public Finance Authority                                                | CUSIP: 74446EAA4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    545000 | PA      | $448850.77    | 0.20%             | 2027-08-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Guam Government Waterworks Authority                                    | Guam Government Waterworks Authority                                    | CUSIP: 40065FDD3<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |    270000 | PA      | $273338.58    | 0.12%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                   | Metropolitan Transportation Authority                                   | CUSIP: 59261AL54<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1448863.05   | 0.66%             | 2032-11-01      | Floating      | 3.68%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                                | Build NYC Resource Corp.                                                | CUSIP: 12008ERQ1<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    350000 | PA      | $327493.22    | 0.15%             | 2031-06-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                          | New Jersey Transportation Trust Fund Authority                          | CUSIP: 64613CCL0<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    125000 | PA      | $133680.40    | 0.06%             | 2050-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Tompkins County Development Corp.                                       | Tompkins County Development Corp.                                       | CUSIP: 890090AM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    915000 | PA      | $892635.02    | 0.41%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Yonkers Industrial Development Agency                                   | Yonkers Industrial Development Agency                                   | CUSIP: 986094BJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2180158.60   | 1.00%             | 2042-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Jefferson County Civic Facility Development Corp.                       | Jefferson County Civic Facility Development Corp.                       | CUSIP: 47325RAR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1974855.80   | 0.90%             | 2037-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                                 | Port Authority of New York & New Jersey                                 | CUSIP: 73358W5U4<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   2485000 | PA      | $2155080.47   | 0.98%             | 2055-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                                | Build NYC Resource Corp.                                                | CUSIP: 12008ERS7<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    735000 | PA      | $542748.70    | 0.25%             | 2051-06-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Tennergy Corp.                                                          | Tennergy Corp.                                                          | CUSIP: 880397CF9<br>LEI: 5493008K3JJFBSC4C235 | Long             | DBT              | MUN               | US        |    705000 | PA      | $745812.24    | 0.34%             | 2053-10-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Texas Private Activity Bond Surface Transportation Corp.                | Texas Private Activity Bond Surface Transportation Corp.                | CUSIP: 882667AG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    205000 | PA      | $208786.99    | 0.10%             | 2038-12-31      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Buffalo & Erie County Industrial Land Development Corp.                 | Buffalo & Erie County Industrial Land Development Corp.                 | CUSIP: 11943KBR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $418473.18    | 0.19%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Territory of Guam                                                       | Territory of Guam                                                       | CUSIP: 40065NCM7<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |     20000 | PA      | $21126.09     | 0.01%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                               | New Jersey Economic Development Authority                               | CUSIP: 64577XCS3<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |     25000 | PA      | $22548.29     | 0.01%             | 2041-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Guam Government Waterworks Authority                                    | Guam Government Waterworks Authority                                    | CUSIP: 40065FDC5<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |    215000 | PA      | $218492.65    | 0.10%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Niagara Frontier Transportation Authority                               | Niagara Frontier Transportation Authority                               | CUSIP: 653544EB8<br>LEI: 2549006J37UHUDTNJV60 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1043715.50   | 0.48%             | 2035-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp.                                      | New York Liberty Development Corp.                                      | CUSIP: 649519DC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1455505.20   | 0.66%             | 2040-11-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| New York Transportation Development Corp.                               | New York Transportation Development Corp.                               | CUSIP: 650116EZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1304120.55   | 0.60%             | 2031-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Glen Cove Local Economic Assistance Corp.                               | Glen Cove Local Economic Assistance Corp.                               | CUSIP: 377450AE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1995000 | PA      | $479389.32    | 0.22%             | 2045-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                     | City of New York                                                        | CUSIP: 64966QFU9<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1825000 | PA      | $1448046.25   | 0.66%             | 2044-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                 | Puerto Rico Sales Tax Financing Corp. Sales Tax                         | CUSIP: 74529JRL1<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |     90000 | PA      | $78083.12     | 0.04%             | 2058-07-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| Schenectady County Capital Resource Corp.                               | Schenectady County Capital Resource Corp.                               | CUSIP: 806418BC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2054966.00   | 0.94%             | 2047-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Guam Government Waterworks Authority                                    | Guam Government Waterworks Authority                                    | CUSIP: 40065FDF8<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |    345000 | PA      | $341923.05    | 0.16%             | 2050-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wayne County Airport Authority                                          | Wayne County Airport Authority                                          | CUSIP: 944514RS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $130000.17    | 0.06%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                    | Puerto Rico Electric Power Authority                                    | CUSIP: 74526QZS4<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    140000 | PA      | $101850.00    | 0.05%             | 2032-07-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue | New York City Transitional Finance Authority Future Tax Secured Revenue | CUSIP: 64971W5B2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2608552.25   | 1.19%             | 2043-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Territory of Guam                                                       | Territory of Guam                                                       | CUSIP: 40065HDT4<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |    190000 | PA      | $194051.01    | 0.09%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                                | Build NYC Resource Corp.                                                | CUSIP: 12008ESY3<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    550000 | PA      | $555098.50    | 0.25%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                      | New York State Dormitory Authority                                      | CUSIP: 64990FYT5<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1225000 | PA      | $922058.60    | 0.42%             | 2050-03-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                   | Metropolitan Transportation Authority                                   | CUSIP: 59261AJ81<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2067131.20   | 0.94%             | 2033-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                 | Puerto Rico Sales Tax Financing Corp. Sales Tax                         | CUSIP: 74529JQC2<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    103000 | PA      | $83328.81     | 0.04%             | 2027-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Royal Oak Hospital Finance Authority                                    | Royal Oak Hospital Finance Authority                                    | CUSIP: 780486HD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1290000 | PA      | $1321313.07   | 0.60%             | 2039-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hempstead Town Local Development Corp.                                  | Hempstead Town Local Development Corp.                                  | CUSIP: 424682HX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $690913.80    | 0.32%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                             | Commonwealth of Puerto Rico                                             | CUSIP: 74514L3G0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    119953 | PA      | $122216.18    | 0.06%             | 2027-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                             | Commonwealth of Puerto Rico                                             | CUSIP: 74514L3F2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    121050 | PA      | $121962.50    | 0.06%             | 2025-07-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Hudson Yards Infrastructure Corp.                                       | Hudson Yards Infrastructure Corp.                                       | CUSIP: 44420RBE9<br>LEI: 549300EE2HJ67TPURL87 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2108383.00   | 0.96%             | 2042-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TSASC, Inc. NY                                                          | TSASC, Inc.                                                             | CUSIP: 898526FE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1019039.50   | 0.47%             | 2036-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dutchess County Local Development Corp.                                 | Dutchess County Local Development Corp.                                 | CUSIP: 267045DW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031980.40   | 0.47%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                 | Puerto Rico Sales Tax Financing Corp. Sales Tax                         | CUSIP: 74529JQF5<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    904000 | PA      | $525859.78    | 0.24%             | 2033-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                   | Metropolitan Transportation Authority                                   | CUSIP: 59261AJ99<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1340000 | PA      | $1131725.01   | 0.52%             | 2045-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                          | Black Belt Energy Gas District                                          | CUSIP: 09182TCG0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1265000 | PA      | $1318662.19   | 0.60%             | 2053-02-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Dutchess County Local Development Corp.                                 | Dutchess County Local Development Corp.                                 | CUSIP: 267045GW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1311711.45   | 0.60%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                    | Puerto Rico Electric Power Authority                                    | CUSIP: 74526QKX9<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    345000 | PA      | $251850.00    | 0.11%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Buffalo & Erie County Industrial Land Development Corp.                 | Buffalo & Erie County Industrial Land Development Corp.                 | CUSIP: 11943KCX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1019195.70   | 0.47%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Syracuse Industrial Development Agency                                  | Syracuse Industrial Development Agency                                  | CUSIP: 87172NBD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $713093.30    | 0.33%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                    | Puerto Rico Electric Power Authority                                    | CUSIP: 74526QYY2<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    250000 | PA      | $183125.00    | 0.08%             | 2027-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Ulster County Capital Resource Corp.                                    | Ulster County Capital Resource Corp.                                    | CUSIP: 903768AC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    165000 | PA      | $155008.26    | 0.07%             | 2025-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                      | New York State Dormitory Authority                                      | CUSIP: 64990G3A8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000058.50   | 0.46%             | 2043-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Sales Tax Securitization Corp.                                          | Sales Tax Securitization Corp.                                          | CUSIP: 79467BCT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $225380.17    | 0.10%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                             | Commonwealth of Puerto Rico                                             | CUSIP: 74514L3M7<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |     83850 | PA      | $68594.84     | 0.03%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| St Lawrence County Industrial Development Agency                        | St Lawrence County Industrial Development Agency                        | CUSIP: 791078DJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $104209.52    | 0.05%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Albany Capital Resource Corp.                                           | Albany Capital Resource Corp.                                           | CUSIP: 012432BV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $126362.41    | 0.06%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                 | Puerto Rico Sales Tax Financing Corp. Sales Tax                         | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   5509000 | PA      | $1357371.88   | 0.62%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Albany County Airport Authority                                         | Albany County Airport Authority                                         | CUSIP: 012123LD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1545186.60   | 0.71%             | 2043-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                             | Commonwealth of Puerto Rico                                             | CUSIP: 74514L3N5<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    114004 | PA      | $89264.95     | 0.04%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Hempstead Town Local Development Corp.                                  | Hempstead Town Local Development Corp.                                  | CUSIP: 424682HC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2047261.60   | 0.93%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                 | Puerto Rico Sales Tax Financing Corp. Sales Tax                         | CUSIP: 74529JRH0<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    376000 | PA      | $338715.13    | 0.15%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp.                                 | New York City Housing Development Corp.                                 | CUSIP: 64972E3B3<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    500000 | PA      | $498071.30    | 0.23%             | 2052-11-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Onondaga County Trust for Cultural Resources                            | Onondaga County Trust for Cultural Resources                            | CUSIP: 68276FDH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007272.50   | 0.46%             | 2040-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                      | New York State Dormitory Authority                                      | CUSIP: 64990E3X3<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1047911.80   | 0.48%             | 2037-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                          | New Jersey Transportation Trust Fund Authority                          | CUSIP: 64613CAV0<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    135000 | PA      | $143224.52    | 0.07%             | 2037-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Monroe County Industrial Development Corp. NY                           | Monroe County Industrial Development Corp.                              | CUSIP: 61075TRT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1980695.80   | 0.90%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                                | Build NYC Resource Corp.                                                | CUSIP: 12008ETA4<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    550000 | PA      | $530586.05    | 0.24%             | 2056-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                               | New York Transportation Development Corp.                               | CUSIP: 650110AE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    435000 | PA      | $353245.27    | 0.16%             | 2053-04-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                   | Metropolitan Transportation Authority                                   | CUSIP: 59261AE37<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   3170000 | PA      | $2543239.65   | 1.16%             | 2052-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                                | Build NYC Resource Corp.                                                | CUSIP: 12008ERR9<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    610000 | PA      | $493767.73    | 0.23%             | 2041-06-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                 | Puerto Rico Sales Tax Financing Corp. Sales Tax                         | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   2186000 | PA      | $1984734.98   | 0.91%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Housing Finance Agency                                   | New York State Housing Finance Agency                                   | CUSIP: 64987JYS4<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |    350000 | PA      | $348366.06    | 0.16%             | 2042-11-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Wayne County Airport Authority                                          | Wayne County Airport Authority                                          | CUSIP: 944514RR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     80000 | PA      | $80653.32     | 0.04%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Housing Finance Agency                                   | New York State Housing Finance Agency                                   | CUSIP: 64987JYT2<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $996462.90    | 0.45%             | 2047-11-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Territory of Guam                                                       | Territory of Guam                                                       | CUSIP: 40065HDU1<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |    100000 | PA      | $101853.86    | 0.05%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                      | New York State Dormitory Authority                                      | CUSIP: 64990GYB2<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1841549.80   | 0.84%             | 2050-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Territory of Guam                                                       | Territory of Guam                                                       | CUSIP: 40065NCR6<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |    185000 | PA      | $161229.39    | 0.07%             | 2042-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                               | New York Transportation Development Corp.                               | CUSIP: 650110AD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $841946.70    | 0.38%             | 2046-10-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Housing Finance Agency                                   | New York State Housing Finance Agency                                   | CUSIP: 64987JSF9<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1908060.20   | 0.87%             | 2060-11-01      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Wayne County Airport Authority                                          | Wayne County Airport Authority                                          | CUSIP: 944514QV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $15163.49     | 0.01%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Toll Road Investors Partnership II LP                                   | Toll Road Investors Partnership II LP                                   | CUSIP: 88948ABM8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    984164 | PA      | $249737.63    | 0.11%             | 2043-02-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| New York State Dormitory Authority                                      | New York State Dormitory Authority                                      | CUSIP: 64990CQA2<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    800000 | PA      | $793275.76    | 0.36%             | 2035-12-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| State of Illinois                                                       | State of Illinois                                                       | CUSIP: 452153AJ8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    335000 | PA      | $345754.94    | 0.16%             | 2030-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Housing Finance Agency                                   | New York State Housing Finance Agency                                   | CUSIP: 64987DGV0<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1330585.11   | 0.61%             | 2038-11-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                             | Commonwealth of Puerto Rico                                             | CUSIP: 74514L3R6<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    139873 | PA      | $75609.83     | 0.03%             | 2033-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                               | New Jersey Economic Development Authority                               | CUSIP: 64577XCK0<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |     10000 | PA      | $10030.67     | 0.00%             | 2034-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp.                                 | New York City Housing Development Corp.                                 | CUSIP: 64972ECZ0<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1970000 | PA      | $1809259.03   | 0.83%             | 2039-11-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Brookhaven Local Development Corp.                                      | Brookhaven Local Development Corp.                                      | CUSIP: 113168AY4<br>LEI: 549300384JET720NAQ98 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1016881.90   | 0.46%             | 2036-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp.                                 | New York City Housing Development Corp.                                 | CUSIP: 64972C4U4<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   2610000 | PA      | $2303786.71   | 1.05%             | 2048-11-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                    | Puerto Rico Electric Power Authority                                    | CUSIP: 74526QXN7<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    180000 | PA      | $131850.00    | 0.06%             | 2023-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Buffalo & Erie County Industrial Land Development Corp.                 | Buffalo & Erie County Industrial Land Development Corp.                 | CUSIP: 11943KCR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $754124.63    | 0.34%             | 2037-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                            | Mississippi Development Bank                                            | CUSIP: 60534TQH1<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |    100000 | PA      | $102421.42    | 0.05%             | 2040-12-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                                | Build NYC Resource Corp.                                                | CUSIP: 12008EBB1<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    750000 | PA      | $747367.73    | 0.34%             | 2043-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                      | New York State Dormitory Authority                                      | CUSIP: 64990GZR6<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1207133.10   | 0.55%             | 2050-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                               | New York Transportation Development Corp.                               | CUSIP: 650116DV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1355918.25   | 0.62%             | 2040-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Oneida County Local Development Corp.                                   | Oneida County Local Development Corp.                                   | CUSIP: 682440CN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $844092.23    | 0.39%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Buffalo & Erie County Industrial Land Development Corp.                 | Buffalo & Erie County Industrial Land Development Corp.                 | CUSIP: 11943KBU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    590000 | PA      | $522495.15    | 0.24%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                               | New York Transportation Development Corp.                               | CUSIP: 650116DA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1340915.40   | 0.61%             | 2045-10-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                                | Build NYC Resource Corp.                                                | CUSIP: 12008EHF6<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    675000 | PA      | $691534.26    | 0.32%             | 2040-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of New York Mortgage Agency                                       | State of New York Mortgage Agency                                       | CUSIP: 6498834U6<br>LEI: 549300ZQWNLLIG564027 | Long             | DBT              | MUN               | US        |    335000 | PA      | $333747.54    | 0.15%             | 2033-10-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Building Aid Revenue       | New York City Transitional Finance Authority Building Aid Revenue       | CUSIP: 64972HK50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3161491.50   | 1.44%             | 2043-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                                | Build NYC Resource Corp.                                                | CUSIP: 12008ELT1<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |   1080000 | PA      | $1071937.15   | 0.49%             | 2045-09-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| New York City Housing Development Corp.                                 | New York City Housing Development Corp.                                 | CUSIP: 64972EYU7<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1535000 | PA      | $1023671.85   | 0.47%             | 2041-11-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                    | Puerto Rico Electric Power Authority                                    | CUSIP: 74526QA28<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    100000 | PA      | $73000.00     | 0.03%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                      | New York State Dormitory Authority                                      | CUSIP: 65000BNG9<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2735354.40   | 1.25%             | 2052-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                       | State of Illinois                                                       | CUSIP: 4521526M8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    200000 | PA      | $207723.46    | 0.09%             | 2045-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue | New York City Transitional Finance Authority Future Tax Secured Revenue | CUSIP: 64971XCW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1903041.20   | 0.87%             | 2042-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                    | Puerto Rico Electric Power Authority                                    | CUSIP: 74526QKP6<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    115000 | PA      | $82800.00     | 0.04%             | 2021-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Poughkeepsie NY                                                 | City of Poughkeepsie                                                    | CUSIP: 7386295T7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    635000 | PA      | $662098.94    | 0.30%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp.                                 | New York City Housing Development Corp.                                 | CUSIP: 64972EA74<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $1680002.25   | 0.77%             | 2045-11-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                                | Build NYC Resource Corp.                                                | CUSIP: 12008EMZ6<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2040520.20   | 0.93%             | 2047-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Brookhaven Local Development Corp.                                      | Brookhaven Local Development Corp.                                      | CUSIP: 113168BK3<br>LEI: 549300384JET720NAQ98 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1651036.40   | 0.75%             | 2045-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                 | Puerto Rico Sales Tax Financing Corp. Sales Tax                         | CUSIP: 74529JRJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    210000 | PA      | $189176.00    | 0.09%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| Territory of Guam                                                       | Territory of Guam                                                       | CUSIP: 40065NCC9<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |    750000 | PA      | $768968.78    | 0.35%             | 2031-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Matching Fund Special Purpose Securitization Corp.                      | Matching Fund Special Purpose Securitization Corp.                      | CUSIP: 57665NAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | VI        |     90000 | PA      | $92368.27     | 0.04%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                    | Puerto Rico Electric Power Authority                                    | CUSIP: 74526QXB3<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    170000 | PA      | $122400.00    | 0.06%             | 2018-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Counties Tobacco Trust II                                      | New York Counties Tobacco Trust II                                      | CUSIP: 62947VAN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20355.89     | 0.01%             | 2035-06-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                                | Build NYC Resource Corp.                                                | CUSIP: 12008ERT5<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    530000 | PA      | $377190.19    | 0.17%             | 2056-06-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                 | Puerto Rico Sales Tax Financing Corp. Sales Tax                         | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    200000 | PA      | $176789.44    | 0.08%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Public Authority for Colorado Energy                                    | Public Authority for Colorado Energy                                    | CUSIP: 744387AD3<br>LEI: 549300C6IJKXQOMRAB11 | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1271003.18   | 0.58%             | 2038-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                                 | Port Authority of New York & New Jersey                                 | CUSIP: 73358W5S9<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1809269.60   | 0.83%             | 2045-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                             | Commonwealth of Puerto Rico                                             | CUSIP: 74514L3K1<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    108689 | PA      | $94239.85     | 0.04%             | 2033-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                     | City of New York                                                        | CUSIP: 64966MHL6<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3141105.30   | 1.43%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Housing Finance Agency                                   | New York State Housing Finance Agency                                   | CUSIP: 64987JWB3<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   4080000 | PA      | $3708024.77   | 1.69%             | 2047-11-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| St Lawrence County Industrial Development Agency                        | St Lawrence County Industrial Development Agency                        | CUSIP: 791078DM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $103462.32    | 0.05%             | 2041-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Nassau NY                                                     | County of Nassau                                                        | CUSIP: 63165TG74<br>LEI: 549300ICRCGQYCPS7T40 | Long             | DBT              | MUN               | US        |   2175000 | PA      | $2366952.23   | 1.08%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Long Beach NY                                                   | City of Long Beach                                                      | CUSIP: 542519ET6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1960216.80   | 0.89%             | 2052-07-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue | New York City Transitional Finance Authority Future Tax Secured Revenue | CUSIP: 64971XHP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1260518.03   | 0.58%             | 2038-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                      | New York State Dormitory Authority                                      | CUSIP: 64990C7Q8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1448262.15   | 0.66%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Westchester County Healthcare Corp. NY                                  | Westchester County Healthcare Corp.                                     | CUSIP: 957366DV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $120189.84    | 0.05%             | 2030-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| New York State Housing Finance Agency                                   | New York State Housing Finance Agency                                   | CUSIP: 64987JXP1<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1012387.30   | 0.46%             | 2052-11-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                             | Commonwealth of Puerto Rico                                             | CUSIP: 74514L3P0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    354563 | PA      | $265811.17    | 0.12%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp.                                      | New York Liberty Development Corp.                                      | CUSIP: 649519DA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1940000 | PA      | $1760043.66   | 0.80%             | 2044-11-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                             | Commonwealth of Puerto Rico                                             | CUSIP: 74514L3Q8<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |     36292 | PA      | $33636.22     | 0.02%             | 2024-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New York Convention Center Development Corp.                            | New York Convention Center Development Corp.                            | CUSIP: 649451GV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    680000 | PA      | $246259.96    | 0.11%             | 2043-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                             | Commonwealth of Puerto Rico                                             | CUSIP: 74514L3J4<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    114620 | PA      | $118513.44    | 0.05%             | 2031-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-30

**Name of Applicant:** MFS Municipal Series Trust

**Signature:** Kasey Phillips

**Name of Signer:** Kasey Phillips

**Title:** Assistant Treasurer