# EDGAR Filing Document

**Accession Number:** 0000201670
**File Stem:** 0001752724-25-182196
**Filing Date:** 2025-7
**Character Count:** 118644
**Document Hash:** 3fb73c6daa8126e67b3f8ce9e40a5efe
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-182196.hdr.sgml**: 20250729

**ACCESSION NUMBER**: 0001752724-25-182196

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250530

**FILED AS OF DATE**: 20250729

**DATE AS OF CHANGE**: 20250729

**PERIOD START**: 20250831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DELAWARE GROUP STATE TAX-FREE INCOME TRUST
- **CENTRAL INDEX KEY:** 0000201670

**ORGANIZATION NAME:**
- **EIN:** 232021993
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-02715
- **FILM NUMBER:** 251160006

**BUSINESS ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354
- **BUSINESS PHONE:** 18002552139

**MAIL ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DELAWARE GROUP STATE TAX FREE INCOME TRUST/PA/
- **DATE OF NAME CHANGE:** 19980423

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DMC TAX FREE INCOME TRUST PA
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Macquarie Tax-Free Pennsylvania Fund (Series ID: S000002393)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000006342 | Class A             | DELIX           |
| C000006344 | Class C             | DPTCX           |
| C000135933 | Institutional Class | DTPIX           |

## Nport-Ex

Schedule of investments

Macquarie Tax-Free Pennsylvania Fund May 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds — 96.64%** | &nbsp;&nbsp;**Municipal Bonds — 96.64%** | &nbsp;&nbsp;**Municipal Bonds — 96.64%** |
| &nbsp;&nbsp;Education Revenue Bonds — 13.46% | &nbsp;&nbsp;Education Revenue Bonds — 13.46% | &nbsp;&nbsp;Education Revenue Bonds — 13.46% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allegheny County, Pennsylvania Higher Education<br> Building Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Robert Morris University)<br> 5.00% 10/15/47 | 1500000 | &nbsp;&nbsp;$1241745 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allentown Commercial and Industrial Development<br> Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Executive Education Academy Charter School Project)<br> 144A 5.00% 7/1/59 # | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2696670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bethlehem, Pennsylvania Redevelopment Authority<br> University Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Moravian University Project)<br> 5.50% 10/1/54 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3023130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bucks County, Pennsylvania Industrial Development<br> Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(School Lane Charter School Project)<br> Series A 5.125% 3/15/46 | 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2326000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chester County, Pennsylvania Industrial Development<br> Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Avon Grove Charter School Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 12/15/47 | 1160000 | &nbsp;&nbsp;&nbsp;&nbsp; 1074786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 12/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;770000 | &nbsp;&nbsp;&nbsp;&nbsp; 695156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Renaissance Academy Charter School Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.50% 10/1/54 # | &nbsp;&nbsp;&nbsp;&nbsp;645000 | &nbsp;&nbsp;&nbsp;&nbsp; 548895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.50% 10/1/64 # | 1485000 | &nbsp;&nbsp;&nbsp;&nbsp; 1219720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Westtown School)<br> Series A 4.00% 1/1/52 | 2250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1942470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General Authority of Southcentral Pennsylvania Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(AICUP Financing Program - York College of Pennsylvania Project)<br> 5.25% 5/1/55 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 975880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lehigh County, Pennsylvania General Purpose Authority<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Muhlenberg College Project)<br> 5.25% 2/1/49 | 1350000 | &nbsp;&nbsp;&nbsp;&nbsp; 1354361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Montgomery County, Pennsylvania Higher Education and<br> Health Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(AICUP Financing Program - Gwynedd Mercy University Project)<br> 5.00% 5/1/42 | 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2375925 |

---

NQ- WEST [0525] 0725 (4640150) 1

------

Schedule of investments

Macquarie Tax-Free Pennsylvania Fund

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Education Revenue Bonds (continued) | &nbsp;&nbsp;Education Revenue Bonds (continued) | &nbsp;&nbsp;Education Revenue Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Montgomery County, Pennsylvania Industrial<br> Development Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(AICUP Financing Program - Gwynedd Mercy University Project)<br> Series VV1 5.75% 5/1/48 | 1500000 | &nbsp;&nbsp;$1508295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Germantown Academy Project)<br> Series A 4.00% 10/1/51 | 1430000 | &nbsp;&nbsp;&nbsp;&nbsp; 1154468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Ursinus College Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 11/1/44 | 1870000 | &nbsp;&nbsp;&nbsp;&nbsp; 1787065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25% 11/1/54 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1912780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pennsylvania Economic Development Financing Authority<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Villanova University Project)<br> 5.00% 8/1/49 | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1534755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pennsylvania Higher Educational Facilities Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 2/15/35 | 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1419050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 2/15/55 | 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2551175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pennsylvania Higher Educational Facilities Authority<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Ursinus College Project)<br> Series A 5.00% 11/1/32 | 1130000 | &nbsp;&nbsp;&nbsp;&nbsp; 1176658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pennsylvania State University |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25% 9/1/54 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3117300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.25% 9/1/52 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2066540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Philadelphia, Pennsylvania Authority for Industrial<br> Development Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(International Apartments of Temple University) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.375% 6/15/30 ‡ | 1145000 | &nbsp;&nbsp;&nbsp;&nbsp; 835850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.625% 6/15/42 ‡ | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2190000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Saint Joseph's University Project)<br> 5.50% 11/1/60 | 6000000 | &nbsp;&nbsp;&nbsp;&nbsp; 6141300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(University of the Sciences)<br> 5.00% 11/1/47 | 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2435300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swarthmore Borough, Pennsylvania Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Swarthmore College)<br> 5.00% 9/15/47 | 1950000 | &nbsp;&nbsp;&nbsp;&nbsp; 2012088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upper Dauphin, Pennsylvania Industrial Development<br> Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Pennsylvania Steam Academy Charter School Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 144A 6.25% 7/1/57 # | 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2418175 |

---

2 NQ- WEST [0525] 0725 (4640150)

------

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Education Revenue Bonds (continued) | &nbsp;&nbsp;Education Revenue Bonds (continued) | &nbsp;&nbsp;Education Revenue Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upper Dauphin, Pennsylvania Industrial Development<br> Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Pennsylvania Steam Academy Charter School Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 144A 6.00% 7/1/29 # | &nbsp;&nbsp;&nbsp;&nbsp;235000 | &nbsp;&nbsp;$233089 |
|  |  | &nbsp;&nbsp;&nbsp; 53968626 |
| &nbsp;&nbsp;Electric Revenue Bonds — 1.54% | &nbsp;&nbsp;Electric Revenue Bonds — 1.54% | &nbsp;&nbsp;Electric Revenue Bonds — 1.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Philadelphia, Pennsylvania Gas Works Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1998 General Ordinance)<br> Series A 5.25% 8/1/49 | 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4114160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Puerto Rico Electric Power Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 7/1/42 ‡ | 1110000 | &nbsp;&nbsp;&nbsp;&nbsp; 609113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.05% 7/1/42 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp; 219500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series WW 5.25% 7/1/33 ‡ | 1055000 | &nbsp;&nbsp;&nbsp;&nbsp; 578931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series WW 5.50% 7/1/38 ‡ | 1190000 | &nbsp;&nbsp;&nbsp;&nbsp; 653012 |
|  |  | &nbsp;&nbsp;&nbsp; 6174716 |
| &nbsp;&nbsp;Healthcare Revenue Bonds — 27.70% | &nbsp;&nbsp;Healthcare Revenue Bonds — 27.70% | &nbsp;&nbsp;Healthcare Revenue Bonds — 27.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adams County General Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(The Brethren Home Community Project)<br> Series A 5.00% 6/1/54 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1841720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allegheny County, Pennsylvania Hospital Development<br> Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Allegheny Health Network Obligated Group Issue) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 4/1/44 | 2640000 | &nbsp;&nbsp;&nbsp;&nbsp; 2288326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 4/1/47 | 11060000 | &nbsp;&nbsp;&nbsp;&nbsp; 10797767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Berks County, Pennsylvania Industrial Development<br> Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(The Highlands at Wyomissing) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 5/15/37 | 1365000 | &nbsp;&nbsp;&nbsp;&nbsp; 1368344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 5/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp; 553044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C 5.00% 5/15/42 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 969070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C 5.00% 5/15/47 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 921740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bucks County, Pennsylvania Industrial Development<br> Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(St. Luke's University Health Network Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00% 8/15/53 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1956540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 8/15/50 | 1400000 | &nbsp;&nbsp;&nbsp;&nbsp; 1161286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 8/15/50 (BAM) | 1600000 | &nbsp;&nbsp;&nbsp;&nbsp; 1352720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Butler County, Pennsylvania Hospital Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Butler Health System Project)<br> Series A 5.00% 7/1/39 | 1625000 | &nbsp;&nbsp;&nbsp;&nbsp; 1460306 |

---

NQ- WEST [0525] 0725 (4640150) 3

------

Schedule of investments

Macquarie Tax-Free Pennsylvania Fund

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Healthcare Revenue Bonds (continued) | &nbsp;&nbsp;Healthcare Revenue Bonds (continued) | &nbsp;&nbsp;Healthcare Revenue Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Centre County, Pennsylvania Hospital Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Mount Nittany Medical Center Project)<br> Series A 4.00% 11/15/47 | 1400000 | &nbsp;&nbsp;$1212260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chester County, Pennsylvania Health and Education<br> Facilities Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Main Line Health System)<br> Series A 4.00% 9/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;310000 | &nbsp;&nbsp;&nbsp;&nbsp; 252142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cumberland County, Pennsylvania Municipal Authority<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Asbury Pennsylvania Obligated Group)<br> 5.00% 1/1/45 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2640570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Diakon Lutheran Social Ministries Project)<br> 5.00% 1/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;675000 | &nbsp;&nbsp;&nbsp;&nbsp; 667798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Penn State Health)<br> Series A 4.00% 11/1/44 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4333250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Doylestown, Pennsylvania Hospital Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.375% 7/1/39 # | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1056800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DuBois, Pennsylvania Hospital Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Penn Highlands Healthcare) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 7/15/45 | 1695000 | &nbsp;&nbsp;&nbsp;&nbsp; 1345372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 7/15/48 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1516660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lancaster County, Pennsylvania Hospital Authority<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Brethren Village Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 7/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp; 130243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25% 7/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp; 249983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50% 7/1/45 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 943210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Landis Homes Retirement Community Project)<br> Series A 5.00% 7/1/45 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1854160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Masonic Villages Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 11/1/35 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1022040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 11/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;510000 | &nbsp;&nbsp;&nbsp;&nbsp; 520042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 11/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp; 254222 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125% 11/1/38 | 3500000 | &nbsp;&nbsp;&nbsp;&nbsp; 3666810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lehigh County, Pennsylvania General Purpose Hospital<br> Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Lehigh Valley Health Network)<br> Series A 4.00% 7/1/49 | 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3238120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maxatawny Township, Pennsylvania Municipal Authority<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Diakon Lutheran Social Ministries Project)<br> Series A 4.50% 1/1/45 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1770260 |

---

4 NQ- WEST [0525] 0725 (4640150)

------

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Healthcare Revenue Bonds (continued) | &nbsp;&nbsp;Healthcare Revenue Bonds (continued) | &nbsp;&nbsp;Healthcare Revenue Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Montgomery County, Pennsylvania Higher Education and<br> Health Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Thomas Jefferson University) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 9/1/49 | 2500000 | &nbsp;&nbsp;$2083350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 4.00% 5/1/47 | 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3313560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 4.00% 5/1/52 | 5950000 | &nbsp;&nbsp;&nbsp;&nbsp; 4775946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 5.00% 5/1/57 | 3285000 | &nbsp;&nbsp;&nbsp;&nbsp; 3181358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Montgomery County, Pennsylvania Industrial<br> Development Authority Retirement Communities Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ACTS Retirement - Life communities Obligated Group)<br> Series A 5.00% 11/15/55 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1900080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Montgomery County, Pennsylvania Industrial<br> Development Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Foulkeways at Gwynedd Project)<br> 5.00% 12/1/46 | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1372845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Waverly Heights Project)<br> 4.00% 12/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp; 279861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Whitemarsh Continuing Care Retirement Community Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375% 1/1/50 | 4035000 | &nbsp;&nbsp;&nbsp;&nbsp; 3539543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.25% 1/1/48 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 875340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.375% 1/1/51 | 1600000 | &nbsp;&nbsp;&nbsp;&nbsp; 1391008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Moon, Pennsylvania Industrial Development Authority<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Baptist Homes Society)<br> 6.125% 7/1/50 | 4090000 | &nbsp;&nbsp;&nbsp;&nbsp; 3381571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Northampton County, Pennsylvania General Purpose<br> Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(St. Luke's University Health Network Project)<br> Series A1 5.25% 8/15/53 | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1515060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Northampton County, Pennsylvania Industrial<br> Development Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Morningstar Senior Living, Inc. Project)<br> 5.00% 11/1/44 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 881670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pennsylvania Economic Development Financing Authority<br> First Mortgage Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Tapestry Moon Senior Housing Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 144A 6.50% 12/1/38 #, ‡ | &nbsp;&nbsp;&nbsp;&nbsp;715000 | &nbsp;&nbsp;&nbsp;&nbsp; 214500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 144A 6.75% 12/1/53 #, ‡ | 5400000 | &nbsp;&nbsp;&nbsp;&nbsp; 1620000 |

---

NQ- WEST [0525] 0725 (4640150) 5

------

Schedule of investments

Macquarie Tax-Free Pennsylvania Fund

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Healthcare Revenue Bonds (continued) | &nbsp;&nbsp;Healthcare Revenue Bonds (continued) | &nbsp;&nbsp;Healthcare Revenue Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pennsylvania Economic Development Financing Authority<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Presbyterian Senior Living Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B-1 5.25% 7/1/49 | 2500000 | &nbsp;&nbsp;$2490625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B-2 5.25% 7/1/46 | 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2512625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(University of Pittsburgh Medical Center) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 11/15/42 | 5200000 | &nbsp;&nbsp;&nbsp;&nbsp; 4629196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 2/15/52 | 1710000 | &nbsp;&nbsp;&nbsp;&nbsp; 1400097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinate Series A-2 4.00% 5/15/48 | 2250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1892947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pennsylvania Higher Educational Facilities Authority<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Thomas Jefferson University)<br> Series B-1 5.25% 11/1/48 (AG) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1026000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(University of Pennsylvania Health System) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 8/15/49 | 7660000 | &nbsp;&nbsp;&nbsp;&nbsp; 6590741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 4.00% 8/15/40 | 1345000 | &nbsp;&nbsp;&nbsp;&nbsp; 1279108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Philadelphia, Pennsylvania Authority for Industrial<br> Development Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(The Children's Hospital of Philadelphia Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 7/1/49 | 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2178300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.50% 7/1/53 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3166440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Wesley Enhanced Living Obligated Group)<br> Series A 5.00% 7/1/49 | 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2187175 |
|  |  | &nbsp;&nbsp;&nbsp;111023751 |
| &nbsp;&nbsp;Housing Revenue Bonds — 5.46% | &nbsp;&nbsp;Housing Revenue Bonds — 5.46% | &nbsp;&nbsp;Housing Revenue Bonds — 5.46% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pennsylvania Housing Finance Agency Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Darby Townhouses)<br> 4.90% 6/1/41 | 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1258413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pennsylvania Housing Finance Agency Single Family<br> Mortgage Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 148A 4.625% 10/1/45 | 4160000 | &nbsp;&nbsp;&nbsp;&nbsp; 4079379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Social Bonds) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 142A 5.00% 10/1/50 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4976900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 143A 5.30% 4/1/44 | 4645000 | &nbsp;&nbsp;&nbsp;&nbsp; 4786301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 143A 5.45% 4/1/51 | 3750000 | &nbsp;&nbsp;&nbsp;&nbsp; 3848175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 146A 4.75% 4/1/53 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2923620 |
|  |  | &nbsp;&nbsp;&nbsp; 21872788 |

---

6 NQ- WEST [0525] 0725 (4640150)

------

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Industrial Development Revenue/Pollution ControlRevenue Bonds — 8.67% | &nbsp;&nbsp;Industrial Development Revenue/Pollution ControlRevenue Bonds — 8.67% | &nbsp;&nbsp;Industrial Development Revenue/Pollution ControlRevenue Bonds — 8.67% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allegheny County, Pennsylvania Industrial Development<br> Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States Steel Corporation Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125% 5/1/30 | 3250000 | &nbsp;&nbsp;$3385427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75% 8/1/42 (AMT) | &nbsp;&nbsp;&nbsp;&nbsp;725000 | &nbsp;&nbsp;&nbsp;&nbsp; 724993 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allentown, Pennsylvania Neighborhood Improvement<br> Zone Development Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(City Center Project)<br> 144A 5.00% 5/1/42 # | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 966320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chester County, Pennsylvania Industrial Development<br> Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Longwood Gardens, Inc. Project)<br> 4.00% 12/1/51 | 2635000 | &nbsp;&nbsp;&nbsp;&nbsp; 2250527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Children's Trust Fund, Commonwealth of Puerto Rico<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Tobacco Settlement Asset-Backed)<br> Series A 8.21% 5/15/57 ^ | 95000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5701900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pennsylvania Commonwealth Financing Authority<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Tobacco Master Settlement Payment Revenue)<br> 4.00% 6/1/39 (AG) | 5045000 | &nbsp;&nbsp;&nbsp;&nbsp; 4645537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pennsylvania Economic Development Financing Authority<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(National Gypsum)<br> 5.50% 11/1/44 (AMT) | 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4003080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pennsylvania Economic Development Financing Authority<br> Solid Waste Disposal Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Core Natural Resources, Inc. Project)<br> 144A 5.45% 1/1/51 (AMT) #, • | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 994590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Proctor & Gamble Paper Project)<br> 5.375% 3/1/31 (AMT) | 11000000 | &nbsp;&nbsp;&nbsp;&nbsp; 12063260 |
|  |  | &nbsp;&nbsp;&nbsp; 34735634 |
| &nbsp;&nbsp;Lease Revenue Bonds — 0.66% | &nbsp;&nbsp;Lease Revenue Bonds — 0.66% | &nbsp;&nbsp;Lease Revenue Bonds — 0.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pennsylvania Economic Development Financing Authority<br> Tax-Exempt Private Activity Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Pennsylvania Rapid Bridge Replacement Project) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 12/31/29 (AMT) | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 503685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 12/31/34 (AMT) | 2115000 | &nbsp;&nbsp;&nbsp;&nbsp; 2123904 |
|  |  | &nbsp;&nbsp;&nbsp; 2627589 |

---

NQ- WEST [0525] 0725 (4640150) 7

------

Schedule of investments

Macquarie Tax-Free Pennsylvania Fund

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Local General Obligation Bonds — 2.68% | &nbsp;&nbsp;Local General Obligation Bonds — 2.68% | &nbsp;&nbsp;Local General Obligation Bonds — 2.68% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Philadelphia, Pennsylvania |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 8/1/41 | 1260000 | &nbsp;&nbsp;$1274490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 5/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 465835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Council Rock, Pennsylvania School District |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 11/15/52 | 2975000 | &nbsp;&nbsp;&nbsp;&nbsp; 2562011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marple Newtown, Pennsylvania School District |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00% 6/1/40 | 3740000 | &nbsp;&nbsp;&nbsp;&nbsp; 3142086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Township of Lower Paxton, Pennsylvania |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 4/1/50 | 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 958386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;West Branch Area School District, Pennsylvania |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 5/15/41 (AG) | &nbsp;&nbsp;&nbsp;&nbsp;930000 | &nbsp;&nbsp;&nbsp;&nbsp; 879715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 5/15/44 (AG) | 1595000 | &nbsp;&nbsp;&nbsp;&nbsp; 1449153 |
|  |  | &nbsp;&nbsp;&nbsp; 10731676 |
| &nbsp;&nbsp;Special Tax Revenue Bonds — 16.07% | &nbsp;&nbsp;Special Tax Revenue Bonds — 16.07% | &nbsp;&nbsp;Special Tax Revenue Bonds — 16.07% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allentown, Pennsylvania Neighborhood Improvement<br> Zone Development Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(City Center Project)<br> 144A 5.25% 5/1/42 # | 4200000 | &nbsp;&nbsp;&nbsp;&nbsp; 4138008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Forward Delivery)<br> 5.00% 5/1/42 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2016940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chester County, Pennsylvania Industrial Development<br> Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Woodlands at Greystone Project)<br> 144A 5.125% 3/1/48 # | &nbsp;&nbsp;&nbsp;&nbsp;704000 | &nbsp;&nbsp;&nbsp;&nbsp; 638134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commonwealth of Puerto Rico Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.784% 11/1/51 • | 1362986 | &nbsp;&nbsp;&nbsp;&nbsp; 836533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.876% 11/1/43 • | 8131172 | &nbsp;&nbsp;&nbsp;&nbsp; 4888867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GDB Debt Recovery Authority of Puerto Rico Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Taxable)<br> 7.50% 8/20/40 | 12326931 | &nbsp;&nbsp;&nbsp;&nbsp; 11846057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Matching Fund Special Purpose Securitization, Virgin<br> Islands Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 10/1/39 | 3540000 | &nbsp;&nbsp;&nbsp;&nbsp; 3398400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Puerto Rico Sales Tax Financing Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Restructured) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-1 0.071% 7/1/51 ^ | 11285000 | &nbsp;&nbsp;&nbsp;&nbsp; 2664050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-1 4.115% 7/1/46 ^ | 29972000 | &nbsp;&nbsp;&nbsp;&nbsp; 9621911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-1 4.75% 7/1/53 | 7858000 | &nbsp;&nbsp;&nbsp;&nbsp; 7196278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-1 5.00% 7/1/58 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4697750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-2 4.329% 7/1/40 | 2650000 | &nbsp;&nbsp;&nbsp;&nbsp; 2474596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-2 4.536% 7/1/53 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 866540 |

---

8 NQ- WEST [0525] 0725 (4640150)

------

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Special Tax Revenue Bonds (continued) | &nbsp;&nbsp;Special Tax Revenue Bonds (continued) | &nbsp;&nbsp;Special Tax Revenue Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Southeastern Pennsylvania Transportation Authority<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Asset Improvement Program)<br> 5.25% 6/1/52 | 8000000 | &nbsp;&nbsp;$8169520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Washington County, Pennsylvania Redevelopment<br> Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Victory Centre Tax Increment Financing Project)<br> 5.00% 7/1/35 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 976370 |
|  |  | &nbsp;&nbsp;&nbsp; 64429954 |
| &nbsp;&nbsp;State General Obligation Bonds — 1.67% | &nbsp;&nbsp;State General Obligation Bonds — 1.67% | &nbsp;&nbsp;State General Obligation Bonds — 1.67% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commonwealth of Pennsylvania |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series D 4.00% 8/15/34 | 1370000 | &nbsp;&nbsp;&nbsp;&nbsp; 1370068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commonwealth of Puerto Rico Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Restructured) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-1 4.00% 7/1/37 | 2172745 | &nbsp;&nbsp;&nbsp;&nbsp; 2008247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-1 4.00% 7/1/41 | 1169072 | &nbsp;&nbsp;&nbsp;&nbsp; 1002374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-1 4.00% 7/1/46 | 2830000 | &nbsp;&nbsp;&nbsp;&nbsp; 2327618 |
|  |  | &nbsp;&nbsp;&nbsp; 6708307 |
| &nbsp;&nbsp;Transportation Revenue Bonds — 17.52% | &nbsp;&nbsp;Transportation Revenue Bonds — 17.52% | &nbsp;&nbsp;Transportation Revenue Bonds — 17.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allegheny County, Pennsylvania Airport Authority<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 1/1/38 (AMT) | 1400000 | &nbsp;&nbsp;&nbsp;&nbsp; 1328138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 1/1/56 (AMT) | 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3267040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 1/1/56 (AMT) | 2505000 | &nbsp;&nbsp;&nbsp;&nbsp; 2423587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Pittsburgh International Airport) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.50% 1/1/53 (AMT) | 1260000 | &nbsp;&nbsp;&nbsp;&nbsp; 1301656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.50% 1/1/55 (AMT) | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1557225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Philadelphia, Pennsylvania Airport Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00% 7/1/46 (AMT) | 3125000 | &nbsp;&nbsp;&nbsp;&nbsp; 2739094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 7/1/51 (AMT) | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2954370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 7/1/33 | 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 10186500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C 4.00% 7/1/50 (AMT) | 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2116350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Delaware River Joint Toll Bridge Commission Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Pennsylvania - New Jersey)<br> 5.00% 7/1/42 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5040900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pennsylvania Economic Development Financing Authority<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B-2 4.859% 1/1/45 (BAM) ^ | 3345000 | &nbsp;&nbsp;&nbsp;&nbsp; 1232465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B-2 5.52% 1/1/46 (BAM) ^ | 1885000 | &nbsp;&nbsp;&nbsp;&nbsp; 659298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B-2 5.54% 1/1/47 (BAM) ^ | 2050000 | &nbsp;&nbsp;&nbsp;&nbsp; 674716 |

---

NQ- WEST [0525] 0725 (4640150) 9

------

Schedule of investments

Macquarie Tax-Free Pennsylvania Fund

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** | &nbsp;&nbsp;**Municipal Bonds (continued)** |
| &nbsp;&nbsp;Transportation Revenue Bonds (continued) | &nbsp;&nbsp;Transportation Revenue Bonds (continued) | &nbsp;&nbsp;Transportation Revenue Bonds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pennsylvania Turnpike Commission Oil Franchise Tax<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.00% 12/1/46 | 1000000 | &nbsp;&nbsp;$1020930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B 4.00% 12/1/53 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4285200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Subordinate Bonds)<br> Series B 4.00% 12/1/51 | 3740000 | &nbsp;&nbsp;&nbsp;&nbsp; 3229939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pennsylvania Turnpike Commission Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 12/1/38 | 2250000 | &nbsp;&nbsp;&nbsp;&nbsp; 2205630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 4.00% 12/1/50 (BAM) | 1220000 | &nbsp;&nbsp;&nbsp;&nbsp; 1055068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A 5.25% 12/1/55 | 4750000 | &nbsp;&nbsp;&nbsp;&nbsp; 4916820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-1 5.00% 12/1/45 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C 3.00% 12/1/51 | 2825000 | &nbsp;&nbsp;&nbsp;&nbsp; 1978517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C 5.00% 12/1/44 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1034370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinate Series A 3.00% 12/1/42 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1576700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinate Series A 4.00% 12/1/49 (AG) | 3375000 | &nbsp;&nbsp;&nbsp;&nbsp; 2941110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinate Series B 3.00% 12/1/51 | 7550000 | &nbsp;&nbsp;&nbsp;&nbsp; 5270580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinate Series B 4.00% 12/1/51 | 1200000 | &nbsp;&nbsp;&nbsp;&nbsp; 1037220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Puerto Rico Industrial, Tourist, Educational, Medical &<br> Environmental Control Facilities Financing Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(San Juan Cruise Terminal Project)<br> Series A-3 6.75% 1/1/46 (AMT) | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2214800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Susquehanna Area, Pennsylvania Regional Airport<br> Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 1/1/38 (AMT) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 986210 |
|  |  | &nbsp;&nbsp;&nbsp; 70234433 |
| &nbsp;&nbsp;Water & Sewer Revenue Bonds — 1.21% | &nbsp;&nbsp;Water & Sewer Revenue Bonds — 1.21% | &nbsp;&nbsp;Water & Sewer Revenue Bonds — 1.21% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allegheny County, Pennsylvania Sanitary Authority<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00% 6/1/53 | 1750000 | &nbsp;&nbsp;&nbsp;&nbsp; 1761235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Philadelphia, Pennsylvania Water and Wastewater<br> Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C 5.25% 9/1/54 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2072080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pittsburgh Water & Sewer Authority System Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First Lien Senior Series A 5.00% 9/1/55 (AG) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1014070 |
|  |  | &nbsp;&nbsp;&nbsp; 4847385 |
| &nbsp;&nbsp;&nbsp;**Total Municipal Bonds (cost $407,093,685)** | &nbsp;&nbsp;&nbsp;**Total Municipal Bonds (cost $407,093,685)** | &nbsp;&nbsp;&nbsp;**387354859** |

---

10 NQ- WEST [0525] 0725 (4640150)

------

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Short-Term Investments — 1.44%** | &nbsp;&nbsp;**Short-Term Investments — 1.44%** | &nbsp;&nbsp;**Short-Term Investments — 1.44%** |
| &nbsp;&nbsp;Variable Rate Demand Notes — 1.44% | &nbsp;&nbsp;Variable Rate Demand Notes — 1.44% | &nbsp;&nbsp;Variable Rate Demand Notes — 1.44% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allegheny County, Pennsylvania Higher Education<br> Building Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Carnegie Mellon University) Series A 2.50% 12/1/37<br> (SPA - Bank of New York)¤ | 1460000 | &nbsp;&nbsp;$1460000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Delaware Valley Regional Finance Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Bucks, Chester, Delaware and Montgomery Counties, Pennsylvania) Series B 3.00% 9/1/59 ¤ | 1300000 | &nbsp;&nbsp;&nbsp;&nbsp; 1300000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Northampton County, Pennsylvania General Purpose<br> Authority Revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(St. Luke's University Health Network Project) Series B 3.00% 8/15/54<br> (LOC - TD Bank, N.A.)¤ | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3000000 |
| &nbsp;&nbsp;&nbsp;**Total Short-Term Investments (cost $5,760,000)** | &nbsp;&nbsp;&nbsp;**Total Short-Term Investments (cost $5,760,000)** | &nbsp;&nbsp;&nbsp; **5760000** |
| &nbsp;&nbsp;&nbsp;**Total Value of Securities—98.08%<br> (cost $412,853,685)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**393114859** |
| &nbsp;&nbsp;&nbsp;**Receivables and Other Assets Net of Liabilities—1.92%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **7686862** |
| &nbsp;&nbsp;&nbsp;**Net Assets Applicable to 57,483,672 Shares Outstanding—100.00%** |  | &nbsp;&nbsp;**$400801721** |

---

---

| | |
|:---|:---|
| ° | Principal amount shown is stated in USD unless noted that the security is denominated in another currency. |
| # | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. At May 31, 2025, the aggregate value of Rule 144A securities was $16,744,901, which represents 4.18% of the Fund's net assets. |
| ‡ | Non-income producing security. Security is currently in default. |
| ^ | Zero-coupon security. The rate shown is the effective yield at the time of purchase. |
| • | Variable rate investment. Rates reset periodically. Rate shown reflects the rate in effect at May 31, 2025. For securities based on a published reference rate and spread, the reference rate and spread are indicated in their descriptions. The reference rate descriptions (i.e. SOFR01M, SOFR03M, etc.) used in this report are identical for different securities, but the underlying reference rates may differ due to the timing of the reset period. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions, or for mortgage-backed securities, are impacted by the individual mortgages which are paying off over time. These securities do not indicate a reference rate and spread in their descriptions. |

---

NQ- WEST [0525] 0725 (4640150) 11

------

Schedule of investments

Macquarie Tax-Free Pennsylvania Fund

---

| | |
|:---|:---|
| ¤ | Tax-exempt obligations that contain a floating or variable interest rate adjustment formula and an unconditional right of demand to receive payment of the unpaid principal balance plus accrued interest upon a short notice period (generally up to 30 days) prior to specified dates either from the issuer or by drawing on a bank letter of credit, a guarantee, or insurance issued with respect to such instrument. Each rate shown is as of May 31, 2025. |

---

---

| |
|:---|
| **Summary of abbreviations:** |
| AG – Insured by Assured Guaranty Inc. |
| AICUP – Association of Independent Colleges & Universities of Pennsylvania |
| AMT – Subject to Alternative Minimum Tax |
| BAM – Insured by Build America Mutual Assurance |
| LOC – Letter of Credit |
| N.A. – National Association |
| SOFR01M – Secured Overnight Financing Rate 1 Month |
| SOFR03M – Secured Overnight Financing Rate 3 Month |
| SPA – Stand-by Purchase Agreement |
| USD – US Dollar |

---

12 NQ- WEST [0525] 0725 (4640150)

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Delaware Group State Tax-Free Income Trust

- **b. Investment Company Act file number:** 811-02715

- **c. CIK number of Registrant:** 0000201670

- **d. LEI of Registrant:** 549300X1E4XIWEQT1L17

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

  - **Street Address 1:** 100 Independence

  - **City:** Philadelphia

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19106

  - **Telephone number:** 800-523-1918

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

- **a. Name of Series:** Macquarie Tax-Free Pennsylvania Fund

- **b. EDGAR series identifier (if any):** S000002393

- **c. LEI of Series:** BJP4GJ5XR7NO0JECHC40

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

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

- **b. Date as of which information is reported:** 2025-05-30

**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:** $401620012.72

**Total Liabilities:** $1932210.15

**Net Assets:** $399687802.57

**Cash Not Reported:** $2981775.94

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 37.86692000 | **1-Year:** 1241.64083000 | **5-Year:** 31726.33652000 | **10-Year:** 319685.82486000 | **30-Year:** 58608.70082000

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

- **3-Month:** 7.11680000 | **1-Year:** 350.37545000 | **5-Year:** 3087.90025000 | **10-Year:** 6785.70449000 | **30-Year:** 229.43201000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000006342 | -2.12%               | -1.62%               | -0.94%               |
| Class ID C000006344 | -2.18%               | -1.68%               | -0.86%               |
| Class ID C000135933 | -2.23%               | -1.47%               | -0.92%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-28770.02               | $-10936933.74                              |
| Month 2  | $-1038120.05             | $-7064730.05                               |
| Month 3  | $-2383147.16             | $-2638072.66                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority                           | CUSIP: 70869PPB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2490625.00   | 0.62%             | 2049-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority                           | CUSIP: 708692CA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $994590.00    | 0.25%             | 2051-01-01      | Variable      | 5.45%                 | No            |                  2 | On Loan: No      |
| MAXATAWNY TWP PA MUNI AUTH REV | Maxatawny Township Municipal Authority                                          | CUSIP: 57778PAE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1770260.00   | 0.44%             | 2045-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority                           | CUSIP: 70869PHV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2115000 | PA      | $2123904.15   | 0.53%             | 2034-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUCKS CNTY PA INDL DEV AUTH HO | Bucks County Industrial Development Authority                                   | CUSIP: 11861MAS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $1956540.00   | 0.49%             | 2053-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MOON INDL DEV AUTH PA REVENUE  | Moon Industrial Development Authority                                           | CUSIP: 61543RAU0<br>LEI: 549300CGX4T1GTNHL435 | Long             | DBT              | MUN               | US        |   4090000 | PA      | $3381571.10   | 0.85%             | 2050-07-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| LANCASTER CNTY PA HOSP AUTH    | Lancaster County Hospital Authority/PA                                          | CUSIP: 514045H22<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $943210.00    | 0.24%             | 2045-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                                | CUSIP: 709225EU6<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2825000 | PA      | $1978517.00   | 0.50%             | 2051-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| COUNCIL ROCK PA SCH DIST       | Council Rock School District                                                    | CUSIP: 222263Z57<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2975000 | PA      | $2562010.50   | 0.64%             | 2052-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHESTER CNTY PA INDL DEV AUTHE | Chester County Industrial Development Authority                                 | CUSIP: 16558QBV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $1942470.00   | 0.49%             | 2052-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA ARPT AUTH AR | Allegheny County Airport Authority                                              | CUSIP: 01728LFK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2505000 | PA      | $2423587.50   | 0.61%             | 2056-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND CNTY PA MUNI AUTH   | Cumberland County Municipal Authority                                           | CUSIP: 230614PC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4333250.00   | 1.08%             | 2044-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority                           | CUSIP: 70870JEG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1710000 | PA      | $1400096.70   | 0.35%             | 2052-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA ARPT REVENUE   | City of Philadelphia PA Airport Revenue                                         | CUSIP: 717817XY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3125000 | PA      | $2739093.75   | 0.69%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST                | Commonwealth of Pennsylvania                                                    | CUSIP: 70914PYD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1370000 | PA      | $1370068.50   | 0.34%             | 2034-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                                | CUSIP: 709225BW5<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2205630.00   | 0.55%             | 2038-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SUSQUEHANNA PA AREA REGL ARPTA | Susquehanna Area Regional Airport Authority                                     | CUSIP: 86909RBH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $986210.00    | 0.25%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER PAXTON TWP PA            | Township of Lower Paxton PA                                                     | CUSIP: 548383RD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $958386.00    | 0.24%             | 2050-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DOYLESTOWN PA HOSP AUTH        | Doylestown Hospital Authority                                                   | CUSIP: 261333HJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1056800.00   | 0.26%             | 2039-07-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA ARPT REVENUE   | City of Philadelphia PA Airport Revenue                                         | CUSIP: 717817WW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2116350.00   | 0.53%             | 2050-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| S ESTRN PA TRANSPRTN AUTH      | Southeastern Pennsylvania Transportation Authority                              | CUSIP: 842039FR5<br>LEI: 98450061A2F3FD36E493 | Long             | DBT              | MUN               | US        |   8000000 | PA      | $8169520.00   | 2.04%             | 2052-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority                           | CUSIP: 70870JFM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $1892947.50   | 0.47%             | 2048-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority                           | CUSIP: 70869PPE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2512625.00   | 0.63%             | 2046-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHESTER CNTY PA INDL DEV AUTH  | Chester County Industrial Development Authority                                 | CUSIP: 16559WAC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    704000 | PA      | $638133.76    | 0.16%             | 2048-03-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FINGA | Pennsylvania Economic Development Financing Authority Parking System Revenue    | CUSIP: 70870EDX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2050000 | PA      | $674716.50    | 0.17%             | 2047-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CHESTER CNTY PA INDL DEV AUTH  | Chester County Industrial Development Authority                                 | CUSIP: 165588FW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1485000 | PA      | $1219719.60   | 0.31%             | 2064-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority                           | CUSIP: 70869PQB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1534755.00   | 0.38%             | 2049-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND CNTY PA MUNI AUTH   | Cumberland County Municipal Authority                                           | CUSIP: 230614TH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $667797.75    | 0.17%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority                           | CUSIP: 70869PLY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    715000 | PA      | $214500.00    | 0.05%             | 2038-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HSG FIN AGY SF | Pennsylvania Housing Finance Agency                                             | CUSIP: 70879QUL5<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3848175.00   | 0.96%             | 2051-04-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA INDL DEV AU | Montgomery County Industrial Development Authority/PA                           | CUSIP: 613609K21<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $279861.00    | 0.07%             | 2037-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL  | Philadelphia Authority for Industrial Development                               | CUSIP: 7178185C8<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2190000.00   | 0.55%             | 2042-06-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority                           | CUSIP: 70870JAZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5200000 | PA      | $4629196.00   | 1.16%             | 2042-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA INDL DEV AU | Montgomery County Industrial Development Authority/PA                           | CUSIP: 613609L46<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1430000 | PA      | $1154467.60   | 0.29%             | 2051-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA ARPT REVENUE   | City of Philadelphia PA Airport Revenue                                         | CUSIP: 717817UX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10186500.00  | 2.55%             | 2033-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA INDL DEV AU | Montgomery County Industrial Development Authority/PA                           | CUSIP: 61360PDA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1900080.00   | 0.48%             | 2055-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BERKS CNTY PA INDL DEV AUTH HL | Berks County Industrial Development Authority                                   | CUSIP: 08452RAK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $921740.00    | 0.23%             | 2047-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HSG FIN AGY SF | Pennsylvania Housing Finance Agency                                             | CUSIP: 70879QTZ6<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4976900.00   | 1.25%             | 2050-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BERKS CNTY PA INDL DEV AUTH HL | Berks County Industrial Development Authority                                   | CUSIP: 08452RAJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $969070.00    | 0.24%             | 2042-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER CNTY PA HOSP AUTH    | Lancaster County Hospital Authority/PA                                          | CUSIP: 514045P98<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1022040.00   | 0.26%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER CNTY PA HOSP AUTH    | Lancaster County Hospital Authority/PA                                          | CUSIP: 514045Q30<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $254222.50    | 0.06%             | 2037-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HSG FIN AGY SF | Pennsylvania Housing Finance Agency                                             | CUSIP: 70879QN66<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   4160000 | PA      | $4079379.20   | 1.02%             | 2045-10-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA INDL DEV AU | Montgomery County Industrial Development Authority/PA                           | CUSIP: 613609B96<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4035000 | PA      | $3539542.35   | 0.89%             | 2050-01-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL  | Philadelphia Authority for Industrial Development                               | CUSIP: 71780TBM4<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6141300.00   | 1.54%             | 2060-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BUTLER CNTY PA HOSP AUTH       | Butler County Hospital Authority                                                | CUSIP: 123592DR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1625000 | PA      | $1460306.25   | 0.37%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DUBOIS PA HOSP AUTH            | DuBois Hospital Authority                                                       | CUSIP: 263804BP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1516660.00   | 0.38%             | 2048-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTHAMPTON CNTY PA INDL DEV A | Northampton County Industrial Development Authority                             | CUSIP: 663549NV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $881670.00    | 0.22%             | 2044-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                          | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4697750.00   | 1.18%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA ARPT AUTH AR | Allegheny County Airport Authority                                              | CUSIP: 01728LHE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1301655.60   | 0.33%             | 2053-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BERKS CNTY PA INDL DEV AUTH HL | Berks County Industrial Development Authority                                   | CUSIP: 08452RAB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1365000 | PA      | $1368344.25   | 0.34%             | 2037-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HGR EDUCTNL FA | Pennsylvania Higher Educational Facilities Authority                            | CUSIP: 70917TRU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1026000.00   | 0.26%             | 2048-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FINGA | Pennsylvania Economic Development Financing Authority Parking System Revenue    | CUSIP: 70870EDW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1885000 | PA      | $659297.60    | 0.16%             | 2046-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HGR EDUCTNL FA | Pennsylvania Higher Educational Facilities Authority                            | CUSIP: 70917S6Y4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7660000 | PA      | $6590740.60   | 1.65%             | 2049-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE RIVER PA JT TOLL BRID | Delaware River Joint Toll Bridge Commission                                     | CUSIP: 246343LJ4<br>LEI: 549300N6IGAQMI0JLE23 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5040900.00   | 1.26%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                                     | CUSIP: 74514L4C8<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   1362986 | PA      | $836532.77    | 0.21%             | 2051-11-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL  | Philadelphia Authority for Industrial Development                               | CUSIP: 7178185B0<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   1145000 | PA      | $835850.00    | 0.21%             | 2030-06-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                                | CUSIP: 709225FA9<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1220000 | PA      | $1055068.20   | 0.26%             | 2050-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DUBOIS PA HOSP AUTH            | DuBois Hospital Authority                                                       | CUSIP: 263804CH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1695000 | PA      | $1345372.35   | 0.34%             | 2045-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL  | Philadelphia Authority for Industrial Development                               | CUSIP: 717824AR7<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2187175.00   | 0.55%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST BRANCH PA AREA SCH DIST   | West Branch Area School District/PA                                             | CUSIP: 951605EH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1595000 | PA      | $1449153.20   | 0.36%             | 2044-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| THE CHILDRENS TRUST FUND PR TO | Children's Trust Fund                                                           | CUSIP: 16876QBL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  95000000 | PA      | $5701900.00   | 1.43%             | 2057-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA HGR EDU & H | Montgomery County Higher Education and Health Authority                         | CUSIP: 613603G52<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5950000 | PA      | $4775946.00   | 1.19%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HGR EDUCTNL FA | Pennsylvania Higher Educational Facilities Authority                            | CUSIP: 70917TCW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1345000 | PA      | $1279108.45   | 0.32%             | 2040-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST UNIV           | Pennsylvania State University/The                                               | CUSIP: 7092353J2<br>LEI: 549300QDK4O4XCJ47X56 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3117300.00   | 0.78%             | 2054-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FINGA | Pennsylvania Economic Development Financing Authority Parking System Revenue    | CUSIP: 70870EDV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3345000 | PA      | $1232465.25   | 0.31%             | 2045-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                          | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7858000 | PA      | $7196277.82   | 1.80%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA INDL DEV AUT | Allegheny County Industrial Development Authority                               | CUSIP: 017292XM0<br>LEI: 5493001680EYSTWFLS08 | Long             | DBT              | MUN               | US        |    725000 | PA      | $724992.75    | 0.18%             | 2042-08-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA                | City of Philadelphia PA                                                         | CUSIP: 717813ZD4<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |    500000 | PA      | $465835.00    | 0.12%             | 2042-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL  | Philadelphia Authority for Industrial Development                               | CUSIP: 71781XDA8<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2435300.00   | 0.61%             | 2047-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FINGA | Pennsylvania Economic Development Financing Authority                           | CUSIP: 708686DZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4003080.00   | 1.00%             | 2044-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA INDL DEV AU | Montgomery County Industrial Development Authority/PA                           | CUSIP: 613609D60<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1372845.00   | 0.34%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                          | CUSIP: 74529JRK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $866540.00    | 0.22%             | 2053-07-01      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA HGR EDU & H | Montgomery County Higher Education and Health Authority                         | CUSIP: 613603YZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2083350.00   | 0.52%             | 2049-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER CNTY PA HOSP AUTH    | Lancaster County Hospital Authority/PA                                          | CUSIP: 514045Q22<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    510000 | PA      | $520041.90    | 0.13%             | 2036-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER CNTY PA HOSP AUTH    | Lancaster County Hospital Authority/PA                                          | CUSIP: 514045X81<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3666810.00   | 0.92%             | 2038-11-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                                     | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   8131172 | PA      | $4888866.95   | 1.22%             | 2043-11-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA SAN AUTH     | Allegheny County Sanitary Authority                                             | CUSIP: 017357N83<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1761235.00   | 0.44%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHESTER CNTY PA INDL DEV AUTH  | Chester County Industrial Development Authority                                 | CUSIP: 165588DR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    770000 | PA      | $695156.00    | 0.17%             | 2051-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHESTER CNTY PA INDL DEV AUTH  | Chester County Industrial Development Authority                                 | CUSIP: 165588DQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1160000 | PA      | $1074786.40   | 0.27%             | 2047-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND CNTY PA MUNI AUTH   | Cumberland County Municipal Authority                                           | CUSIP: 230614PN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2640570.00   | 0.66%             | 2045-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR | Puerto Rico Electric Power Authority                                            | CUSIP: 74526QA28<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   1110000 | PA      | $609112.50    | 0.15%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BERKS CNTY PA INDL DEV AUTH HL | Berks County Industrial Development Authority                                   | CUSIP: 08452RAD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $553044.00    | 0.14%             | 2047-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL  | Philadelphia Authority for Industrial Development                               | CUSIP: 717901CB6<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3166440.00   | 0.79%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHESTER CNTY PA INDL DEV AUTH  | Chester County Industrial Development Authority                                 | CUSIP: 165588FV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    645000 | PA      | $548895.00    | 0.14%             | 2054-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                                | CUSIP: 709225KU9<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1034370.00   | 0.26%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA HOSP DEV AUT | Allegheny County Hospital Development Authority                                 | CUSIP: 01728A3Z7<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |   2640000 | PA      | $2288325.60   | 0.57%             | 2044-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA HGR EDU BLDG | Allegheny County Higher Education Building Authority                            | CUSIP: 01728RES4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1460000 | PA      | $1460000.00   | 0.37%             | 2037-12-01      | Variable      | 2.10%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA HGR EDU & H | Montgomery County Higher Education and Health Authority                         | CUSIP: 613603G37<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3313560.00   | 0.83%             | 2047-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                                | CUSIP: 709225EA0<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   7550000 | PA      | $5270579.50   | 1.32%             | 2051-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR | Puerto Rico Electric Power Authority                                            | CUSIP: 74526QVD1<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   1055000 | PA      | $578931.25    | 0.14%             | 2033-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CENTRE CNTY PA HOSP AUTH       | Centre County Hospital Authority                                                | CUSIP: 156273HE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1212260.00   | 0.30%             | 2047-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER CNTY PA HOSP AUTH    | Lancaster County Hospital Authority/PA                                          | CUSIP: 514045J20<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1854160.00   | 0.46%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLENTOWN COMMERCIAL & INDL DE | Allentown Commercial and Industrial Development Authority                       | CUSIP: 01843AAN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2696670.00   | 0.67%             | 2059-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority                           | CUSIP: 70869PLZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5400000 | PA      | $1620000.00   | 0.41%             | 2053-12-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST UNIV           | Pennsylvania State University/The                                               | CUSIP: 709235W68<br>LEI: 549300QDK4O4XCJ47X56 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2066540.00   | 0.52%             | 2052-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LEHIGH CNTY PA GEN PURPOSE AUT | Lehigh County General Purpose Authority                                         | CUSIP: 52480RGM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1354360.50   | 0.34%             | 2049-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA ARPT AUTH AR | Allegheny County Airport Authority                                              | CUSIP: 01728LGH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3267040.00   | 0.82%             | 2056-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR | Puerto Rico Electric Power Authority                                            | CUSIP: 74526QVE9<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   1190000 | PA      | $653012.50    | 0.16%             | 2038-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WASHINGTON CNTY PA REDEV AUTH  | Redevelopment Authority of The County of Washington                             | CUSIP: 938618AD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $976370.00    | 0.24%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                                | CUSIP: 709225AY2<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1576700.00   | 0.39%             | 2042-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BETHLEHEM PA REDEV AUTH UNIV R | Bethlehem Redevelopment Authority                                               | CUSIP: 087470BX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3023130.00   | 0.76%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SWARTHMORE BORO PA AUTH        | Swarthmore Borough Authority                                                    | CUSIP: 870000QP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1950000 | PA      | $2012088.00   | 0.50%             | 2047-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLENTOWN PA NEIGHBORHOOD IMPT | Allentown Neighborhood Improvement Zone Development Authority                   | CUSIP: 018444BZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2016940.00   | 0.50%             | 2042-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UPPER DAUPHIN PA INDL DEV AUTH | Upper Dauphin Industrial Development Authority                                  | CUSIP: 915691AC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2418175.00   | 0.61%             | 2057-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BUCKS CNTY PA INDL DEV AUTH    | Bucks County Industrial Development Authority                                   | CUSIP: 118612MC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2326000.00   | 0.58%             | 2046-03-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO INDL TOURIST EDUCT | Puerto Rico Industrial Tourist Educational Medical & Envirml Ctl Facs Fing Auth | CUSIP: 74528LAD3<br>LEI: 549300YJRISCG6HQ4512 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2214800.00   | 0.55%             | 2046-01-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GDB DEBT RECOVERY AUTH OF CMWL | GDB Debt Recovery Authority of Puerto Rico                                      | CUSIP: 36829QAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12326931 | PA      | $11846057.42  | 2.96%             | 2040-08-20      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ALLENTOWN PA NEIGHBORHOOD IMPT | Allentown Neighborhood Improvement Zone Development Authority                   | CUSIP: 018444CC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $966320.00    | 0.24%             | 2042-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA INDL DEV AU | Montgomery County Industrial Development Authority/PA                           | CUSIP: 613609G67<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $875340.00    | 0.22%             | 2048-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA INDL DEV AU | Montgomery County Industrial Development Authority/PA                           | CUSIP: 613609N44<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1912780.00   | 0.48%             | 2054-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                                | CUSIP: 709224P60<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   3375000 | PA      | $2941110.00   | 0.74%             | 2049-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA HGR EDU BLDG | Allegheny County Higher Education Building Authority                            | CUSIP: 01728RMT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1241745.00   | 0.31%             | 2047-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HGR EDUCTNL FA | Pennsylvania Higher Educational Facilities Authority                            | CUSIP: 70917TEX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1130000 | PA      | $1176657.70   | 0.29%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                                     | CUSIP: 74514L3N5<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   1169072 | PA      | $1002374.02   | 0.25%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority                           | CUSIP: 708692AH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11000000 | PA      | $12063260.00  | 3.02%             | 2031-03-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA INDL DEV AU | Montgomery County Industrial Development Authority/PA                           | CUSIP: 613609G75<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1391008.00   | 0.35%             | 2051-01-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| DELAWARE VLY PA REGL FIN AUTH  | Delaware Valley Regional Finance Authority                                      | CUSIP: 246579LZ7<br>LEI: 549300HGYP3NW885TT18 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1300000.00   | 0.33%             | 2059-09-01      | Variable      | 2.15%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                          | CUSIP: 74529JRH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2650000 | PA      | $2474596.50   | 0.62%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| PITTSBURGH PA WTR & SWR AUTH   | Pittsburgh Water & Sewer Authority                                              | CUSIP: 725304ZQ5<br>LEI: 54930034DVH6W22T1E86 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1014070.00   | 0.25%             | 2055-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UPPER DAUPHIN PA INDL DEV AUTH | Upper Dauphin Industrial Development Authority                                  | CUSIP: 915691AD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $233089.45    | 0.06%             | 2029-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission Oil Franchise Tax Revenue                      | CUSIP: 709221WU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3740000 | PA      | $3229938.80   | 0.81%             | 2051-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA                | City of Philadelphia PA                                                         | CUSIP: 717813TL3<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1274490.00   | 0.32%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST BRANCH PA AREA SCH DIST   | West Branch Area School District/PA                                             | CUSIP: 951605EE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    930000 | PA      | $879714.90    | 0.22%             | 2041-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                                | CUSIP: 709224HP7<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.25%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                                | CUSIP: 709225NY8<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   4750000 | PA      | $4916820.00   | 1.23%             | 2055-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BUCKS CNTY PA INDL DEV AUTH HO | Bucks County Industrial Development Authority                                   | CUSIP: 11861MAQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1161286.00   | 0.29%             | 2050-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA HGR EDU & H | Montgomery County Higher Education and Health Authority                         | CUSIP: 613603G94<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3285000 | PA      | $3181358.25   | 0.80%             | 2057-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HSG FIN AGY SF | Pennsylvania Housing Finance Agency                                             | CUSIP: 70879QXU2<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2923620.00   | 0.73%             | 2053-04-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CHESTER CNTY PA INDL DEV AUTH  | Chester County Industrial Development Authority                                 | CUSIP: 165588FJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2635000 | PA      | $2250527.15   | 0.56%             | 2051-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority                           | CUSIP: 70869PJX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $503685.00    | 0.13%             | 2029-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA HGR EDU & H | Montgomery County Higher Education and Health Authority                         | CUSIP: 613603J75<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2375925.00   | 0.59%             | 2042-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HGR EDUCTNL FA | Pennsylvania Higher Educational Facilities Authority                            | CUSIP: 70917TTD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2551175.00   | 0.64%             | 2055-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CMWLTH FING AUTH PA TOBACCO MA | Commonwealth Financing Authority                                                | CUSIP: 20282EAS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5045000 | PA      | $4645536.90   | 1.16%             | 2039-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA ARPT AUTH AR | Allegheny County Airport Authority                                              | CUSIP: 01728LKZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1557225.00   | 0.39%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                                     | CUSIP: 74514L3M7<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   2172745 | PA      | $2008246.48   | 0.50%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEHIGH CNTY PA GEN PURPOSE HOS | County of Lehigh PA                                                             | CUSIP: 52480GDW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3238120.00   | 0.81%             | 2049-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL  | Philadelphia Authority for Industrial Development                               | CUSIP: 717901CA8<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2178300.00   | 0.55%             | 2049-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission Oil Franchise Tax Revenue                      | CUSIP: 709221WV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4285200.00   | 1.07%             | 2053-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA GAS WKS REVENU | Philadelphia Gas Works Co                                                       | CUSIP: 71783MDE2<br>LEI: 549300H8UJ7V5WU5IA90 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4114160.00   | 1.03%             | 2049-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA ARPT AUTH AR | Allegheny County Airport Authority                                              | CUSIP: 01728LFD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1328138.00   | 0.33%             | 2038-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER CNTY PA HOSP AUTH    | Lancaster County Hospital Authority/PA                                          | CUSIP: 514045S20<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $130243.10    | 0.03%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HSG FIN AGY MF | Pennsylvania Housing Finance Agency                                             | CUSIP: 708797BG9<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1258412.50   | 0.31%             | 2041-06-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA INDL DEV AU | Montgomery County Industrial Development Authority/PA                           | CUSIP: 613609N28<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1870000 | PA      | $1787065.50   | 0.45%             | 2044-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLENTOWN PA NEIGHBORHOOD IMPT | Allentown Neighborhood Improvement Zone Development Authority                   | CUSIP: 018444CA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4200000 | PA      | $4138008.00   | 1.04%             | 2042-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HSG FIN AGY SF | Pennsylvania Housing Finance Agency                                             | CUSIP: 70879QUJ0<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   4645000 | PA      | $4786300.90   | 1.20%             | 2044-04-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| CHESTER CNTY PA HLTH & EDU FAC | Chester County Health and Education Facilities Authority                        | CUSIP: 16557HFM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    310000 | PA      | $252141.60    | 0.06%             | 2050-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTHCENTRL PA GEN AUTH REVENU | General Authority of Southcentral Pennsylvania                                  | CUSIP: 84129NNL9<br>LEI: 549300QBNU5LBV4QX812 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $975880.00    | 0.24%             | 2055-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LANCASTER CNTY PA HOSP AUTH    | Lancaster County Hospital Authority/PA                                          | CUSIP: 514045G98<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $249982.50    | 0.06%             | 2035-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BUCKS CNTY PA INDL DEV AUTH HO | Bucks County Industrial Development Authority                                   | CUSIP: 11861MBT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1352720.00   | 0.34%             | 2050-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA INDL DEV AU | Montgomery County Industrial Development Authority/PA                           | CUSIP: 613609M86<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1508295.00   | 0.38%             | 2048-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                                | CUSIP: 709225DZ6<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1037220.00   | 0.26%             | 2051-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR | Puerto Rico Electric Power Authority                                            | CUSIP: 74526QZY1<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    400000 | PA      | $219500.00    | 0.05%             | 2042-07-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA WTR & WSTWTR R | City of Philadelphia PA Water & Wastewater Revenue                              | CUSIP: 7178933X7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2072080.00   | 0.52%             | 2054-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA ARPT REVENUE   | City of Philadelphia PA Airport Revenue                                         | CUSIP: 717817XZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2954370.00   | 0.74%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA HOSP DEV AUT | Allegheny County Hospital Development Authority                                 | CUSIP: 01728A4A1<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |  11060000 | PA      | $10797767.40  | 2.70%             | 2047-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHAMPTON CNTY PA GEN PURPOS | Northampton County General Purpose Authority                                    | CUSIP: 66353RDF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1515060.00   | 0.38%             | 2053-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ADAMS CNTY PA GEN AUTH REV     | Adams County General Authority                                                  | CUSIP: 006114AD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1841720.00   | 0.46%             | 2054-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARPLE NEWTOWN PA SCH DIST     | Marple Newtown School District                                                  | CUSIP: 571363JQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3740000 | PA      | $3142086.20   | 0.79%             | 2040-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                                     | CUSIP: 74514L3P0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   2830000 | PA      | $2327618.40   | 0.58%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTHAMPTON CNTY PA GEN PURPOS | Northampton County General Purpose Authority                                    | CUSIP: 66353RDJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3000000.00   | 0.75%             | 2054-08-15      | Variable      | 2.15%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                          | CUSIP: 74529JQH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11285000 | PA      | $2664049.95   | 0.67%             | 2051-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission Oil Franchise Tax Revenue                      | CUSIP: 709221VY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020930.00   | 0.26%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MATCHING FUND SPL PURPOSE SECU | Matching Fund Special Purpose Securitization Corp                               | CUSIP: 57665NAG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3540000 | PA      | $3398400.00   | 0.85%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HGR EDUCTNL FA | Pennsylvania Higher Educational Facilities Authority                            | CUSIP: 70917TTB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1419050.00   | 0.36%             | 2035-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA INDL DEV AUT | Allegheny County Industrial Development Authority                               | CUSIP: 01730PAB5<br>LEI: 5493001680EYSTWFLS08 | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3385427.50   | 0.85%             | 2030-05-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                          | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  29972000 | PA      | $9621911.16   | 2.41%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-29

**Name of Applicant:** Delaware Group State Tax-Free Income Trust

**Signature:** Dan Geatens

**Name of Signer:** Dan Geatens

**Title:** Division Director - Head of US Fund Administration