# EDGAR Filing Document

**Accession Number:** 0000778365
**File Stem:** 0001410368-26-008061
**Filing Date:** 2026-1
**Character Count:** 75023
**Document Hash:** 41e4edc78ff60e0c4abc41039d7def79
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-008061.hdr.sgml**: 20260128

**ACCESSION NUMBER**: 0001410368-26-008061

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260128

**DATE AS OF CHANGE**: 20260128

**PERIOD START**: 20260831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Eaton Vance Municipals Trust
- **CENTRAL INDEX KEY:** 0000778365

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04409
- **FILM NUMBER:** 26569024

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

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** EATON VANCE MUNICIPALS TRUST
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** EATON VANCE HIGH YIELD MUNICIPALS TRUST
- **DATE OF NAME CHANGE:** 19910203

## Series and Classes Contracts Data

### Eaton Vance Maryland Municipal Income Fund (Series ID: S000004840)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000013104 | Eaton Vance Maryland Municipal Income Fund Class A | ETMDX           |
| C000013106 | Eaton Vance Maryland Municipal Income Fund Class C | ECMDX           |
| C000063947 | Eaton Vance Maryland Municipal Income Fund Class I | EIMDX           |

## Nport-Ex

Eaton Vance<br>

Maryland Municipal Income Fund

November 30, 2025

Portfolio of Investments (Unaudited)

------

Tax-Exempt Municipal Obligations — 96.0%

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Bond Bank — 0.9% | Bond Bank — 0.9% | Bond Bank — 0.9% |
| Maryland Community Development Administration, (Local Government Infrastructure), 5.00%, 6/1/43 | $&nbsp;&nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp;$831306 |
|  |  | &nbsp;&nbsp;**$831306** |
| Education — 6.5% | Education — 6.5% | Education — 6.5% |
| Maryland Health and Higher Educational Facilities Authority, (Loyola University Maryland): |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 10/1/43 | $&nbsp;&nbsp;&nbsp;&nbsp;595 | &nbsp;&nbsp;$627197 |
| &nbsp;&nbsp;&nbsp;5.00%, 10/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp; 805721 |
| Maryland Health and Higher Educational Facilities Authority, (Stevenson University), 5.00%, 6/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp;&nbsp;&nbsp; 527838 |
| Maryland Industrial Development Financing Authority, (Garrison Forest School, Inc.), 4.00%, 11/1/42 | 1025 | &nbsp;&nbsp;&nbsp;&nbsp; 987856 |
| Maryland Industrial Development Financing Authority, (McDonogh School), 4.00%, 9/1/43 | 2100 | &nbsp;&nbsp;&nbsp;&nbsp; 2026164 |
| University System of Maryland, 4.00%, 4/1/34 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1007060 |
|  |  | &nbsp;&nbsp;**$5981836** |
| Escrowed/Prerefunded — 0.6% | Escrowed/Prerefunded — 0.6% | Escrowed/Prerefunded — 0.6% |
| Washington County, MD, (Diakon Lutheran Social Ministries), Prerefunded to 1/1/29, 5.00%, 1/1/32 | $&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;$534047 |
|  |  | &nbsp;&nbsp;**$534047** |
| General Obligations — 24.4% | General Obligations — 24.4% | General Obligations — 24.4% |
| Anne Arundel County, MD: |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 10/1/36 | $1185 | &nbsp;&nbsp;$1388013 |
| &nbsp;&nbsp;&nbsp;5.00%, 10/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp; 896408 |
| &nbsp;&nbsp;&nbsp;5.00%, 10/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;950 | &nbsp;&nbsp;&nbsp;&nbsp; 979687 |
| Baltimore County, MD: |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, 3/1/40 | 1030 | &nbsp;&nbsp;&nbsp;&nbsp; 1050156 |
| &nbsp;&nbsp;&nbsp;5.00%, 3/1/44 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1086561 |
| Carroll County, MD: |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, 11/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp; 302379 |
| &nbsp;&nbsp;&nbsp;5.00%, 11/1/40<sup>(1)</sup> | 1435 | &nbsp;&nbsp;&nbsp;&nbsp; 1633567 |
| Cecil County, MD, 4.50%, 8/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;870 | &nbsp;&nbsp;&nbsp;&nbsp; 882417 |
| Howard County, MD: |  |  |
| &nbsp;&nbsp;&nbsp;2.00%, 8/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp;&nbsp;&nbsp; 460639 |
| &nbsp;&nbsp;&nbsp;2.00%, 8/15/35 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 857565 |
| &nbsp;&nbsp;&nbsp;4.00%, 8/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp; 200195 |
| Maryland: |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, 8/1/31 | 1455 | &nbsp;&nbsp;&nbsp;&nbsp; 1455137 |
| &nbsp;&nbsp;&nbsp;4.00%, 3/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;705 | &nbsp;&nbsp;&nbsp;&nbsp; 735416 |

---

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| General Obligations (continued) | General Obligations (continued) | General Obligations (continued) |
| Montgomery County, MD: |  |  |
| &nbsp;&nbsp;&nbsp;2.00%, 8/1/39 | $2000 | &nbsp;&nbsp;$1559842 |
| &nbsp;&nbsp;&nbsp;4.00%, 8/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;&nbsp; 35734 |
| &nbsp;&nbsp;&nbsp;(SPA: U.S. Bank, N.A.), 2.70%, 11/1/37<sup>(2)</sup> | 1350 | &nbsp;&nbsp;&nbsp;&nbsp; 1350000 |
| Prince George's County, MD: |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, 9/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp; 209789 |
| &nbsp;&nbsp;&nbsp;5.00%, 8/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;950 | &nbsp;&nbsp;&nbsp;&nbsp; 1055216 |
| &nbsp;&nbsp;&nbsp;5.00%, 8/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp;&nbsp;&nbsp; 343989 |
| Puerto Rico: |  |  |
| &nbsp;&nbsp;&nbsp;0.00%, 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp; 540729 |
| &nbsp;&nbsp;&nbsp;5.625%, 7/1/29 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1061744 |
| Talbot County, MD, 5.00%, 1/1/37 | 1380 | &nbsp;&nbsp;&nbsp;&nbsp; 1530739 |
| Washington Suburban Sanitary District, MD: |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 6/1/40 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1108154 |
| &nbsp;&nbsp;&nbsp;Green Bonds, 3.00%, 6/1/42 | 1700 | &nbsp;&nbsp;&nbsp;&nbsp; 1461073 |
| &nbsp;&nbsp;&nbsp;Green Bonds, 4.00%, 6/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp; 139929 |
| Wicomico County, MD, 4.00%, 11/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp; 24783 |
|  |  | &nbsp;&nbsp;**$22349861** |
| Hospital — 12.5% | Hospital — 12.5% | Hospital — 12.5% |
| Maryland Health and Higher Educational Facilities Authority, (Anne Arundel Health System), 5.00%, 7/1/32 | $&nbsp;&nbsp;&nbsp;&nbsp;950 | &nbsp;&nbsp;$969396 |
| Maryland Health and Higher Educational Facilities Authority, (Frederick Health System): |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 7/1/48 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1014424 |
| &nbsp;&nbsp;&nbsp;5.25%, 7/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;745 | &nbsp;&nbsp;&nbsp;&nbsp; 763268 |
| Maryland Health and Higher Educational Facilities Authority, (Johns Hopkins Health System): |  |  |
| &nbsp;&nbsp;&nbsp;2.79%, 6/1/42<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;835 | &nbsp;&nbsp;&nbsp;&nbsp; 835000 |
| &nbsp;&nbsp;&nbsp;(LOC: TD Bank, N.A.), 2.80%, 6/1/46<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp; 700000 |
| Maryland Health and Higher Educational Facilities Authority, (MedStar Health), 5.00%, 8/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;960 | &nbsp;&nbsp;&nbsp;&nbsp; 960335 |
| Maryland Health and Higher Educational Facilities Authority, (Peninsula Regional Health System), 4.00%, 7/1/48 | 2425 | &nbsp;&nbsp;&nbsp;&nbsp; 2214239 |
| Maryland Health and Higher Educational Facilities Authority, (University of Maryland Medical System), 5.00%, 7/1/29 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1001168 |
| Maryland Health and Higher Educational Facilities Authority, (UPMC), 5.00%, 4/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp; 297806 |
| Montgomery County, MD, (Trinity Health Corp.), 4.00%, 12/1/44 | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 1886111 |
| Norfolk Economic Development Authority, VA, (Sentara Healthcare), 4.00%, 11/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;840 | &nbsp;&nbsp;&nbsp;&nbsp; 775944 |
|  |  | &nbsp;&nbsp;**$11417691** |

---

------

Eaton Vance<br>

Maryland Municipal Income Fund

November 30, 2025

Portfolio of Investments (Unaudited) — continued

------

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Housing — 12.1% | Housing — 12.1% | Housing — 12.1% |
| Howard County Housing Commission, MD, (Woodfield Oxford Square Apartments), 5.00%, 12/1/37 | $1000 | &nbsp;&nbsp;$1023775 |
| Maryland Community Development Administration: |  |  |
| &nbsp;&nbsp;&nbsp;2.30%, 9/1/35 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 861958 |
| &nbsp;&nbsp;&nbsp;Social Bonds, 1.65%, 9/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;595 | &nbsp;&nbsp;&nbsp;&nbsp; 550407 |
| &nbsp;&nbsp;&nbsp;Social Bonds, 1.80%, 9/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp;&nbsp;&nbsp; 384628 |
| &nbsp;&nbsp;&nbsp;Social Bonds, (FHLMC), (FNMA), (GNMA), 4.375%, 9/1/43 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1011383 |
| &nbsp;&nbsp;&nbsp;Social Bonds, (FHLMC), (FNMA), (GNMA), 4.40%, 9/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp; 769340 |
| &nbsp;&nbsp;&nbsp;Social Bonds, (FHLMC), (FNMA), (GNMA), 6.00%, 3/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;580 | &nbsp;&nbsp;&nbsp;&nbsp; 616956 |
| &nbsp;&nbsp;&nbsp;Sustainability Bonds, 4.35%, 7/1/43 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1002686 |
| Maryland Community Development Administration, (Villages At Marley Station), Sustainability Bonds, (FNMA), 4.35%, 2/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;995 | &nbsp;&nbsp;&nbsp;&nbsp; 985871 |
| Maryland Department of Housing and Community Development Administration, Green Bonds, 4.45%, 7/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;910 | &nbsp;&nbsp;&nbsp;&nbsp; 925857 |
| Maryland Economic Development Corp., (Bowie State University), Student Housing Revenue, 4.00%, 7/1/50 | 1030 | &nbsp;&nbsp;&nbsp;&nbsp; 839154 |
| Maryland Economic Development Corp., (Morgan State University), Student Housing Revenue, 5.625%, 7/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 531592 |
| Maryland Economic Development Corp., (Towson University), 5.00%, 7/1/37 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1000514 |
| Montgomery County Housing Opportunities Commission, MD: |  |  |
| &nbsp;&nbsp;&nbsp;1.95%, 7/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;115 | &nbsp;&nbsp;&nbsp;&nbsp; 106479 |
| &nbsp;&nbsp;&nbsp;2.00%, 1/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp; 186041 |
| &nbsp;&nbsp;&nbsp;2.05%, 7/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp; 92695 |
| &nbsp;&nbsp;&nbsp;2.10%, 1/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;&nbsp;&nbsp; 169385 |
| &nbsp;&nbsp;&nbsp;2.125%, 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp; 4549 |
|  |  | &nbsp;&nbsp;**$11063270** |
| Industrial Development Revenue — 2.6% | Industrial Development Revenue — 2.6% | Industrial Development Revenue — 2.6% |
| Maryland Economic Development Corp., (Constellation Energy Group, Inc.), 4.10% to 4/3/28 (Put Date), 10/1/36 | $&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;$771923 |
| Maryland Economic Development Corp., (Core Natural Resources, Inc.), 5.00% to 3/27/35 (Put Date), 7/1/48<sup>(4)</sup> | 1500 | &nbsp;&nbsp;&nbsp;&nbsp; 1577463 |
|  |  | &nbsp;&nbsp;**$2349386** |
| Insured - Escrowed/Prerefunded — 1.0% | Insured - Escrowed/Prerefunded — 1.0% | Insured - Escrowed/Prerefunded — 1.0% |
| Maryland Health and Higher Educational Facilities Authority, (Helix Health Issue), (AMBAC), Escrowed to Maturity, 5.00%, 7/1/27 | $&nbsp;&nbsp;&nbsp;&nbsp;895 | &nbsp;&nbsp;$912023 |
|  |  | &nbsp;&nbsp;**$912023** |

---

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Insured - Hospital — 5.2% | Insured - Hospital — 5.2% | Insured - Hospital — 5.2% |
| Maryland Health and Higher Educational Facilities Authority, (Medlantic/Helix Issue), (AMBAC), 5.25%, 8/15/38 | $3035 | &nbsp;&nbsp;$3422939 |
| Maryland Health and Higher Educational Facilities Authority, (TidalHealth, Inc.): |  |  |
| &nbsp;&nbsp;&nbsp;(AG), 5.00%, 7/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp;&nbsp;&nbsp; 358223 |
| &nbsp;&nbsp;&nbsp;(AG), 5.00%, 7/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp; 261490 |
| Maryland Health and Higher Educational Facilities Authority, (University of Maryland Medical System), (AG), 4.00%, 7/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;695 | &nbsp;&nbsp;&nbsp;&nbsp; 662154 |
|  |  | &nbsp;&nbsp;**$4704806** |
| Insured - Transportation — 3.4% | Insured - Transportation — 3.4% | Insured - Transportation — 3.4% |
| Maryland Department of Transportation: |  |  |
| &nbsp;&nbsp;&nbsp;(AG), (AMT), 5.25%, 8/1/40 | $1000 | &nbsp;&nbsp;$1111095 |
| &nbsp;&nbsp;&nbsp;(AG), (AMT), 5.25%, 8/1/44 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1071305 |
| &nbsp;&nbsp;&nbsp;(AG), (AMT), 5.25%, 8/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;910 | &nbsp;&nbsp;&nbsp;&nbsp; 962113 |
|  |  | &nbsp;&nbsp;**$3144513** |
| Lease Revenue/Certificates of Participation — 5.0% | Lease Revenue/Certificates of Participation — 5.0% | Lease Revenue/Certificates of Participation — 5.0% |
| Maryland Stadium Authority: |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 5/1/47 | $2250 | &nbsp;&nbsp;$2287018 |
| &nbsp;&nbsp;&nbsp;5.00%, 5/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;995 | &nbsp;&nbsp;&nbsp;&nbsp; 1080756 |
| Maryland Stadium Authority, Built to Learn Revenue: |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, 6/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 466330 |
| &nbsp;&nbsp;&nbsp;4.00%, 6/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp; 735048 |
|  |  | &nbsp;&nbsp;**$4569152** |
| Senior Living/Life Care — 3.0% | Senior Living/Life Care — 3.0% | Senior Living/Life Care — 3.0% |
| Baltimore County, MD, (Oak Crest Village, Inc.), 4.00%, 1/1/45 | $1000 | &nbsp;&nbsp;$914323 |
| Howard County, MD, (Vantage House), 5.00%, 4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp;&nbsp;&nbsp; 295319 |
| Maryland Health and Higher Educational Facilities Authority, (Edenwald), 5.25%, 1/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 500163 |
| Rockville, MD, (Ingleside at King Farm), 5.00%, 11/1/37 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1003856 |
|  |  | &nbsp;&nbsp;**$2713661** |
| Solid Waste — 1.4% | Solid Waste — 1.4% | Solid Waste — 1.4% |
| Maryland Environmental Service, (Midshore II Regional Landfill), 5.00%, 11/1/36 | $1085 | &nbsp;&nbsp;$1260675 |
|  |  | &nbsp;&nbsp;**$1260675** |
| Special Tax Revenue — 7.3% | Special Tax Revenue — 7.3% | Special Tax Revenue — 7.3% |
| American Samoa Economic Development Authority: |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 9/1/35<sup>(1)(4)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;$159257 |
| &nbsp;&nbsp;&nbsp;5.00%, 9/1/38<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp; 204201 |

---

------

Eaton Vance<br>

Maryland Municipal Income Fund

November 30, 2025

Portfolio of Investments (Unaudited) — continued

------

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Special Tax Revenue (continued) | Special Tax Revenue (continued) | Special Tax Revenue (continued) |
| Howard County, MD, (Annapolis Junction Town Center): |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 2/15/38 | $&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;$486598 |
| &nbsp;&nbsp;&nbsp;5.00%, 2/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp; 457157 |
| Maryland Department of Transportation, 2.50%, 10/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp; 662700 |
| Puerto Rico Sales Tax Financing Corp., 5.00%, 7/1/58 | 1090 | &nbsp;&nbsp;&nbsp;&nbsp; 1062713 |
| Washington Metropolitan Area Transit Authority, D.C.: |  |  |
| &nbsp;&nbsp;&nbsp;Green Bonds, 4.125%, 7/15/47 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 962998 |
| &nbsp;&nbsp;&nbsp;Green Bonds, 5.25%, 7/15/59 | 1500 | &nbsp;&nbsp;&nbsp;&nbsp; 1582963 |
| &nbsp;&nbsp;&nbsp;Sustainability Bonds, 5.25%, 7/15/53 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1049513 |
|  |  | &nbsp;&nbsp;**$6628100** |
| Transportation — 8.5% | Transportation — 8.5% | Transportation — 8.5% |
| Maryland Department of Transportation, (AMT), 4.00%, 8/1/41 | $1335 | &nbsp;&nbsp;$1285735 |
| Maryland Economic Development Corp., (Seagirt Marine Terminal), (AMT), 5.00%, 6/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp; 125615 |
| Maryland Economic Development Corp., (Transportation Facilities), 5.00%, 6/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 517835 |
| Maryland Transportation Authority: |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, 7/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;115 | &nbsp;&nbsp;&nbsp;&nbsp; 111592 |
| &nbsp;&nbsp;&nbsp;5.00%, 7/1/51 | 1500 | &nbsp;&nbsp;&nbsp;&nbsp; 1550881 |
| Metropolitan Washington Airports Authority, D.C., (AMT), 5.00%, 10/1/44 | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 2037782 |
| Virgin Islands Transportation and Infrastructure Corp., 5.00%, 9/1/39 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1102005 |
| Washington Metropolitan Area Transit Authority, D.C., 5.00%, 7/1/31 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1035114 |
|  |  | &nbsp;&nbsp;**$7766559** |
| Water and Sewer — 1.6% | Water and Sewer — 1.6% | Water and Sewer — 1.6% |
| Washington Suburban Sanitary District, MD, 4.00%, 6/1/40 | $1500 | &nbsp;&nbsp;$1503044 |
|  |  | &nbsp;&nbsp;**$1503044** |
| Total Tax-Exempt Municipal Obligations<br> (identified cost $87,558,153) |  | &nbsp;&nbsp;**$87729930** |

---

Taxable Municipal Obligations — 4.1%

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| General Obligations — 0.5% | General Obligations — 0.5% | General Obligations — 0.5% |
| Baltimore Mayor and City Council, MD, 5.60%, 10/15/30<sup>(5)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp;$454566 |
|  |  | &nbsp;&nbsp;**$454566** |

---

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Hospital — 0.8% | Hospital — 0.8% | Hospital — 0.8% |
| Maryland Health and Higher Educational Facilities Authority, (University of Maryland Medical System), 3.052%, 7/1/40 | $1000 | &nbsp;&nbsp;$796535 |
|  |  | &nbsp;&nbsp;**$796535** |
| Housing — 2.2% | Housing — 2.2% | Housing — 2.2% |
| Maryland Community Development Administration, (FHLMC), (FNMA), (GNMA), (SPA: Royal Bank of Canada), 4.00%, 7/1/45<sup>(3)</sup> | $2000 | &nbsp;&nbsp;$2000000 |
|  |  | &nbsp;&nbsp;**$2000000** |
| Transportation — 0.6% | Transportation — 0.6% | Transportation — 0.6% |
| Prince George's County Revenue Authority, MD, (Regional Medical Center Garage): |  |  |
| &nbsp;&nbsp;&nbsp;2.553%, 8/1/26 | $&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;$272049 |
| &nbsp;&nbsp;&nbsp;2.593%, 8/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp;&nbsp; 253346 |
|  |  | &nbsp;&nbsp;**$525395** |
| Total Taxable Municipal Obligations<br> (identified cost $3,982,785) |  | &nbsp;&nbsp;**$3776496** |

---

Short-Term Investments — 0.3%

U.S. Treasury Obligations — 0.3%

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| U.S. Treasury Bills, 0.00%, 12/2/25 | $&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;$249973 |
| Total U.S. Treasury Obligations<br> (identified cost $249,973) |  | &nbsp;&nbsp;**$249973** |
| Total Short-Term Investments<br> (identified cost $249,973) |  | &nbsp;&nbsp;**$249973** |
| Total Investments — 100.4%<br> (identified cost $91,790,911) |  | &nbsp;&nbsp;**$91756399** |
| Other Assets, Less Liabilities — (0.4)% |  | &nbsp;&nbsp;**$(322484)** |
| Net Assets — 100.0% |  | &nbsp;&nbsp;**$91433915** |

---

------

Eaton Vance<br>

Maryland Municipal Income Fund

November 30, 2025

Portfolio of Investments (Unaudited) — continued

------

---

| | |
|:---|:---|
| The percentage shown for each investment category in the Portfolio of Investments is based on net assets. | The percentage shown for each investment category in the Portfolio of Investments is based on net assets. |
| <sup>(1)</sup> | When-issued security. |
| <sup>(2)</sup> | Variable rate demand obligation that may be tendered at par on any day for payment the same or next business day. The stated interest rate, which generally resets daily, is determined by the remarketing agent and represents the rate in effect at November 30, 2025. |
| <sup>(3)</sup> | Variable rate demand obligation that may be tendered at par on any day for payment the lesser of 5 business days or 7 calendar days. The stated interest rate, which generally resets weekly, is determined by the remarketing agent and represents the rate in effect at November 30, 2025. |
| <sup>(4)</sup> | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to qualified institutional buyers). At November 30, 2025, the aggregate value of these securities is $1,940,921 or 2.1% of the Fund's net assets. |
| <sup>(5)</sup> | Build America Bond. Represents taxable municipal obligation issued pursuant to the American Recovery and Reinvestment Act of 2009 or other legislation providing for the issuance of taxable municipal debt on which the issuer receives federal support. |
| The Fund invests primarily in debt securities issued by Maryland municipalities. The ability of the issuers of the debt securities to meet their obligations may be affected by economic developments in a specific industry or municipality. At November 30, 2025, 9.5% of total investments are backed by bond insurance of various financial institutions and financial guaranty assurance agencies. The aggregate percentage insured by an individual financial institution or financial guaranty assurance agency ranged from 4.7% to 4.8% of total investments. | The Fund invests primarily in debt securities issued by Maryland municipalities. The ability of the issuers of the debt securities to meet their obligations may be affected by economic developments in a specific industry or municipality. At November 30, 2025, 9.5% of total investments are backed by bond insurance of various financial institutions and financial guaranty assurance agencies. The aggregate percentage insured by an individual financial institution or financial guaranty assurance agency ranged from 4.7% to 4.8% of total investments. |

---

---

| | |
|:---|:---|
| **Abbreviations:** | **Abbreviations:** |
| AG | – Assured Guaranty, Inc. |
| AMBAC | – AMBAC Financial Group, Inc. |
| AMT | – Interest earned from these securities may be considered a tax preference item for purposes of the Federal Alternative Minimum Tax. |
| FHLMC | – Federal Home Loan Mortgage Corp. |
| FNMA | – Federal National Mortgage Association |
| GNMA | – Government National Mortgage Association |
| LOC | – Letter of Credit |
| SPA | – Standby Bond Purchase Agreement |

---

The Fund did not have any open derivative instruments at November 30, 2025.

Fair Value Measurements

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

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

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

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

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

At November 30, 2025, the hierarchy of inputs used in valuing the Fund's investments, which are carried at fair value, were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Asset Description** | &nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| Tax-Exempt Municipal Obligations | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$87729930 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$87729930 |
| Taxable Municipal Obligations | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3776496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3776496 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 249973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 249973 |
| **Total Investments** | &nbsp;&nbsp;**$—** | &nbsp;&nbsp;&nbsp;&nbsp;**$91756399** | &nbsp;&nbsp;&nbsp;&nbsp;**$—** | &nbsp;&nbsp;&nbsp;&nbsp;**$91756399** |

---

------

Eaton Vance<br>

Maryland Municipal Income Fund

November 30, 2025

Portfolio of Investments (Unaudited) — continued

------

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

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Eaton Vance Municipals Trust

- **b. Investment Company Act file number:** 811-04409

- **c. CIK number of Registrant:** 0000778365

- **d. LEI of Registrant:** 549300URENTSNA53MO13

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

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

  - **City:** BOSTON

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02109

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

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

- **a. Name of Series:** Eaton Vance Maryland Municipal Income Fund

- **b. EDGAR series identifier (if any):** S000004840

- **c. LEI of Series:** 5493002UB7AGQZ37Y944

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

- **a. Date of fiscal year-end:** 2026-08-31

- **b. Date as of which information is reported:** 2025-11-30

**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:** $93157986.31

**Total Liabilities:** $2110323.55

**Net Assets:** $91047662.76

**Delayed Delivery Securities:** $1786559.45

**Cash Not Reported:** $153560.36

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -130.19000000 | **1-Year:** -3013.99000000 | **5-Year:** -12748.28000000 | **10-Year:** -32403.01000000 | **30-Year:** -9181.77000000

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

- **3-Month:** -22.08000000 | **1-Year:** -605.09000000 | **5-Year:** -1321.22000000 | **10-Year:** -2614.44000000 | **30-Year:** -749.62000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000013104 | 2.88%                | 1.47%                | 0.27%                |
| Class ID C000013106 | 2.83%                | 1.42%                | 0.21%                |
| Class ID C000063947 | 3.01%                | 1.49%                | 0.28%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-57476.87               | $2352279.00                                |
| Month 2  | $34767.86                | $1036526.35                                |
| Month 3  | $42871.23                | $17407.96                                  |

**Designated Index Information**

- **Index Name:** BB Barclays Municipal Bd

- **Index Identifier:** MBINDEX

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| American Samoa Economic Development Authority                                 | AMERICAN SAMOA AS ECON DEV AUTH GEN REVENUE                 | CUSIP: 02936TAH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $204200.70    | 0.22%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| American Samoa Economic Development Authority                                 | AMERICAN SAMOA AS ECON DEV AUTH GEN REVENUE                 | CUSIP: 02936TAV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $159257.25    | 0.17%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Anne Arundel MD                                                     | ANNE ARUNDEL CNTY MD                                        | CUSIP: 03588HE44<br>LEI: 549300L8Q6EFVTZGWW41 | Long             | DBT              | MUN               | US        |    950000 | PA      | $979686.84    | 1.08%             | 2046-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Anne Arundel MD                                                     | ANNE ARUNDEL CNTY MD                                        | CUSIP: 03588JKW1<br>LEI: 549300L8Q6EFVTZGWW41 | Long             | DBT              | MUN               | US        |    800000 | PA      | $896408.24    | 0.98%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Anne Arundel MD                                                     | ANNE ARUNDEL CNTY MD                                        | CUSIP: 03588JND0<br>LEI: 549300L8Q6EFVTZGWW41 | Long             | DBT              | MUN               | US        |   1185000 | PA      | $1388013.49   | 1.52%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Baltimore MD                                                        | BALTIMORE CNTY MD                                           | CUSIP: 05914F8G8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1030000 | PA      | $1050155.66   | 1.15%             | 2040-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Baltimore MD                                                        | BALTIMORE CNTY MD                                           | CUSIP: 05914GLU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1086561.50   | 1.19%             | 2044-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Baltimore MD                                                        | BALTIMORE CNTY MD REVENUE                                   | CUSIP: 059151CL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $914323.20    | 1.00%             | 2045-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Baltimore MD                                                          | BALTIMORE MD                                                | CUSIP: 059189NQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    440000 | PA      | $454566.24    | 0.50%             | 2030-10-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| County of Carroll MD                                                          | CARROLL CNTY MD                                             | CUSIP: 144880GA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $302379.15    | 0.33%             | 2042-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Carroll MD                                                          | CARROLL CNTY MD                                             | CUSIP: 144880HP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1435000 | PA      | $1633566.83   | 1.79%             | 2040-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Cecil MD                                                            | CECIL CNTY MD                                               | CUSIP: 14984PFX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    870000 | PA      | $882416.81    | 0.97%             | 2053-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Maryland Community Development Administration                                 | CMNTY DEV ADMIN MD MF DEV REVENUE                           | CUSIP: 20364NCJ4<br>LEI: 549300LCO2FLSSVFFR64 | Long             | DBT              | MUN               | US        |    995000 | PA      | $985871.47    | 1.08%             | 2044-02-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| County of Howard MD                                                           | HOWARD CNTY MD                                              | CUSIP: 44256PB77<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $460639.15    | 0.51%             | 2034-08-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| County of Howard MD                                                           | HOWARD CNTY MD                                              | CUSIP: 44256PB85<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $857564.50    | 0.94%             | 2035-08-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| County of Howard MD                                                           | HOWARD CNTY MD                                              | CUSIP: 44256PX32<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200195.06    | 0.22%             | 2043-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Howard County Housing Commission                                              | HOWARD CO MD HSG COMMN                                      | CUSIP: 442577DT6<br>LEI: 5493007CCS6UI1IIE878 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023774.70   | 1.12%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Howard MD                                                           | HOWARD CNTY MD RETMNT CMNTY REVENUE                         | CUSIP: 442593AW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    295000 | PA      | $295318.66    | 0.32%             | 2026-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Howard MD                                                           | HOWARD CNTY MD SPL OBLIG                                    | CUSIP: 442599AW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $486597.74    | 0.53%             | 2038-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Howard MD                                                           | HOWARD CNTY MD SPL OBLIG                                    | CUSIP: 442599AX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $457156.65    | 0.50%             | 2039-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Community Development Administration Local Government Infrastructure | LOCAL GOVT INFRASTRUCTURE MD CMNTY DEV ADMIN                | CUSIP: 574039RL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    775000 | PA      | $831306.23    | 0.91%             | 2043-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Environmental Service                                                | MARYLAND ST ENVRNMNTL SVC REVENUE                           | CUSIP: 574058FF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1260674.63   | 1.38%             | 2036-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Maryland                                                             | MARYLAND ST                                                 | CUSIP: 574193PS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1455000 | PA      | $1455136.92   | 1.60%             | 2031-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| State of Maryland                                                             | MARYLAND ST                                                 | CUSIP: 574193SM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    705000 | PA      | $735415.82    | 0.81%             | 2035-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Maryland Community Development Administration                                 | MARYLAND ST CMNTY DEV ADMIN DEPT HSG & CMNTY DEV            | CUSIP: 57419RHB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000000.00   | 2.20%             | 2045-07-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Maryland Community Development Administration                                 | MARYLAND ST CMNTY DEV ADMIN DEPT HSG & CMNTY DEV            | CUSIP: 57419T2Q3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011383.00   | 1.11%             | 2043-09-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Maryland Community Development Administration                                 | MARYLAND ST CMNTY DEV ADMIN DEPT HSG & CMNTY DEV            | CUSIP: 57419TGS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $861957.70    | 0.95%             | 2035-09-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Maryland Community Development Administration                                 | MARYLAND ST CMNTY DEV ADMIN DEPT HSG & CMNTY DEV            | CUSIP: 57419TH46<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    580000 | PA      | $616955.86    | 0.68%             | 2053-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Maryland Community Development Administration                                 | MARYLAND ST CMNTY DEV ADMIN DEPT HSG & CMNTY DEV            | CUSIP: 57419TQ46<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002686.00   | 1.10%             | 2043-07-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Maryland Community Development Administration                                 | MARYLAND ST CMNTY DEV ADMIN DEPT HSG & CMNTY DEV            | CUSIP: 57419TUY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    595000 | PA      | $550407.19    | 0.60%             | 2029-09-01      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| Maryland Community Development Administration                                 | MARYLAND ST CMNTY DEV ADMIN DEPT HSG & CMNTY DEV            | CUSIP: 57419TVA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $384628.39    | 0.42%             | 2030-09-01      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| Maryland Community Development Administration                                 | MARYLAND ST CMNTY DEV ADMIN DEPT HSG & CMNTY DEV            | CUSIP: 57419TWB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $769339.58    | 0.84%             | 2037-09-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Maryland Department of Housing & Community Development                        | MARYLAND CMNTY DEV ADMIN HSG & CMNTY DEV                    | CUSIP: 57419UKC1<br>LEI: 549300Q5BSL77YR7NP93 | Long             | DBT              | MUN               | US        |    910000 | PA      | $925856.57    | 1.02%             | 2044-07-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| State of Maryland Department of Transportation                                | MARYLAND ST DEPT OF TRANSPRTN CONSOL TRANSPRTN              | CUSIP: 574204N90<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $662699.94    | 0.73%             | 2033-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Maryland Economic Development Corp                                            | MARYLAND ST ECON DEV CORP                                   | CUSIP: 574205GR5<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |    750000 | PA      | $771923.18    | 0.85%             | 2036-10-01      | Floating      | 4.10%                 | No            |                  2 | On Loan: No      |
| Maryland Economic Development Corp                                            | MARYLAND ST ECON DEV CORP ECON DEV REVENUE                  | CUSIP: 57420NBZ3<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |    500000 | PA      | $517835.10    | 0.57%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Economic Development Corp                                            | MARYLAND ST ECON DEV CORP ECON DEV REVENUE                  | CUSIP: 57420NCV1<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |    125000 | PA      | $125614.31    | 0.14%             | 2049-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Economic Development Corp                                            | MARYLAND ST ECON DEV CORP STUDENT HSG REVENUE               | CUSIP: 57420VQS5<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000513.80   | 1.10%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Economic Development Corp                                            | MARYLAND ST ECON DEV CORP STUDENT HSG REVENUE               | CUSIP: 57420VRH8<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |   1030000 | PA      | $839153.98    | 0.92%             | 2050-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Maryland Economic Development Corp                                            | MARYLAND ST ECON DEV CORP STUDENT HSG REVENUE               | CUSIP: 57420VSM6<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |    500000 | PA      | $531592.05    | 0.58%             | 2043-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                     | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE            | CUSIP: 5742163J4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3035000 | PA      | $3422938.56   | 3.76%             | 2038-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                     | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE            | CUSIP: 574216XB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    895000 | PA      | $912022.99    | 1.00%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                     | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE            | CUSIP: 5742182Z5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    950000 | PA      | $969395.87    | 1.06%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                     | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE            | CUSIP: 5742185T6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $805721.36    | 0.88%             | 2049-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                     | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE            | CUSIP: 5742187B3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $297805.56    | 0.33%             | 2032-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                     | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE            | CUSIP: 5742188L0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2425000 | PA      | $2214239.13   | 2.43%             | 2048-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                     | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE            | CUSIP: 574218A29<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500162.75    | 0.55%             | 2037-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                     | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE            | CUSIP: 574218VD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    960000 | PA      | $960335.04    | 1.05%             | 2042-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                     | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE            | CUSIP: 574218WT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001168.20   | 1.10%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                     | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE            | CUSIP: 57421CAV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $796534.50    | 0.87%             | 2040-07-01      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                     | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE            | CUSIP: 57421CBY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    495000 | PA      | $527838.35    | 0.58%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                     | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE            | CUSIP: 57421CEB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    695000 | PA      | $662153.95    | 0.73%             | 2048-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                     | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE            | CUSIP: 57421CEU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1014423.70   | 1.11%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                     | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE            | CUSIP: 57421CEV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    745000 | PA      | $763268.15    | 0.84%             | 2053-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                     | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE            | CUSIP: 57421CGC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $700000.00    | 0.77%             | 2046-06-01      | Floating      | 2.80%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                     | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE            | CUSIP: 57421CGD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    835000 | PA      | $835000.00    | 0.92%             | 2042-06-01      | Floating      | 2.79%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                     | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE            | CUSIP: 57421CGV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    595000 | PA      | $627196.94    | 0.69%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                     | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE            | CUSIP: 57421CKX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    340000 | PA      | $358223.39    | 0.39%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                     | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE            | CUSIP: 57421CKY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $261490.20    | 0.29%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Maryland Department of Transportation                                | MARYLAND ST DEPT OF TRANSPRTN                               | CUSIP: 57421FAZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1285735.30   | 1.41%             | 2041-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Maryland Department of Transportation                                | MARYLAND ST DEPT OF TRANSPRTN                               | CUSIP: 57421FBR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1111094.90   | 1.22%             | 2040-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| State of Maryland Department of Transportation                                | MARYLAND ST DEPT OF TRANSPRTN                               | CUSIP: 57421FBV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1071305.70   | 1.18%             | 2044-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| State of Maryland Department of Transportation                                | MARYLAND ST DEPT OF TRANSPRTN                               | CUSIP: 57421FBW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    910000 | PA      | $962112.79    | 1.06%             | 2049-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Maryland Economic Development Corp                                            | MARYLAND ST ECON DEV CORP POLL CONTROL REVENUE              | CUSIP: 57421HAB9<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1577463.00   | 1.73%             | 2048-07-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Industrial Development Financing Authority                           | MARYLAND ST INDL DEV FING AUTH ECON DEV REVENUE             | CUSIP: 574221MD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1025000 | PA      | $987856.46    | 1.08%             | 2042-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Maryland Industrial Development Financing Authority                           | MARYLAND ST INDL DEV FING AUTH ECON DEV REVENUE             | CUSIP: 574221NC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2026163.58   | 2.23%             | 2043-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Maryland Stadium Authority                                                    | MARYLAND STADIUM AUTH BUILT TO LEARN REVENUE                | CUSIP: 574294BV5<br>LEI: 549300VA283TTQRDNF71 | Long             | DBT              | MUN               | US        |    800000 | PA      | $735047.68    | 0.81%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Maryland Stadium Authority                                                    | MARYLAND STADIUM AUTH BUILT TO LEARN REVENUE                | CUSIP: 574294CT9<br>LEI: 549300VA283TTQRDNF71 | Long             | DBT              | MUN               | US        |    500000 | PA      | $466330.05    | 0.51%             | 2049-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Maryland Stadium Authority                                                    | MARYLAND ST STADIUM AUTH REVENUE                            | CUSIP: 574296CR8<br>LEI: 549300VA283TTQRDNF71 | Long             | DBT              | MUN               | US        |    995000 | PA      | $1080756.36   | 1.19%             | 2050-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Stadium Authority                                                    | MARYLAND ST STADIUM AUTH REVENUE                            | CUSIP: 574296DQ9<br>LEI: 549300VA283TTQRDNF71 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2287017.90   | 2.51%             | 2047-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland State Transportation Authority                                       | MARYLAND ST TRANSPRTN AUTH TRANSPRTN FACS PROJ REVENUE      | CUSIP: 574300MN6<br>LEI: 254900MKNK0MO0Z4X426 | Long             | DBT              | MUN               | US        |    115000 | PA      | $111591.62    | 0.12%             | 2045-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Maryland State Transportation Authority                                       | MARYLAND ST TRANSPRTN AUTH TRANSPRTN FACS PROJ REVENUE      | CUSIP: 574300NZ8<br>LEI: 254900MKNK0MO0Z4X426 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1550880.90   | 1.70%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority Aviation Revenue                   | MET WASHINGTON DC ARPTS AUTH ARPT SYS REVENUE               | CUSIP: 592647GN5<br>LEI: 7HERAVJJLN8J1DZ6AZ19 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2037782.20   | 2.24%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Montgomery MD                                                       | MONTGOMERY CNTY MD                                          | CUSIP: 6133408D3<br>LEI: 549300GNX5SDUEBKPK13 | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1350000.00   | 1.48%             | 2037-11-01      | Floating      | 2.70%                 | No            |                  2 | On Loan: No      |
| Montgomery County Housing Opportunities Commission                            | MONTGOMERY CNTY MD HSG OPPNTYS COMMN MFH & RECONSTR DEV REV | CUSIP: 613347QV8<br>LEI: 549300HDL0LLRHMDL092 | Long             | DBT              | MUN               | US        |    115000 | PA      | $106479.18    | 0.12%             | 2031-07-01      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| Montgomery County Housing Opportunities Commission                            | MONTGOMERY CNTY MD HSG OPPNTYS COMMN MFH & RECONSTR DEV REV | CUSIP: 613347QW6<br>LEI: 549300HDL0LLRHMDL092 | Long             | DBT              | MUN               | US        |    200000 | PA      | $186041.26    | 0.20%             | 2032-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Montgomery County Housing Opportunities Commission                            | MONTGOMERY CNTY MD HSG OPPNTYS COMMN MFH & RECONSTR DEV REV | CUSIP: 613347QX4<br>LEI: 549300HDL0LLRHMDL092 | Long             | DBT              | MUN               | US        |    100000 | PA      | $92695.33     | 0.10%             | 2032-07-01      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| Montgomery County Housing Opportunities Commission                            | MONTGOMERY CNTY MD HSG OPPNTYS COMMN MFH & RECONSTR DEV REV | CUSIP: 613347QY2<br>LEI: 549300HDL0LLRHMDL092 | Long             | DBT              | MUN               | US        |    185000 | PA      | $169385.45    | 0.19%             | 2033-01-01      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| Montgomery County Housing Opportunities Commission                            | MONTGOMERY CNTY MD HSG OPPNTYS COMMN MFH & RECONSTR DEV REV | CUSIP: 613347QZ9<br>LEI: 549300HDL0LLRHMDL092 | Long             | DBT              | MUN               | US        |      5000 | PA      | $4548.48      | 0.00%             | 2033-07-01      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| County of Montgomery MD                                                       | MONTGOMERY CNTY MD                                          | CUSIP: 61334PEE9<br>LEI: 549300GNX5SDUEBKPK13 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1559841.60   | 1.71%             | 2039-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| County of Montgomery MD                                                       | MONTGOMERY CNTY MD                                          | CUSIP: 61334PFV0<br>LEI: 549300GNX5SDUEBKPK13 | Long             | DBT              | MUN               | US        |     35000 | PA      | $35734.26     | 0.04%             | 2040-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Montgomery MD                                                       | MONTGOMERY CNTY MD REVENUE                                  | CUSIP: 61336PET4<br>LEI: 549300GNX5SDUEBKPK13 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1886111.40   | 2.07%             | 2044-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Norfolk Economic Development Authority                                        | NORFOLK VA ECON DEV AUTH HOSPFACS REVENUE                   | CUSIP: 65588TAT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    840000 | PA      | $775943.87    | 0.85%             | 2048-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Prince George's MD                                                  | PRINCE GEORGES CNTY MD                                      | CUSIP: 7417013M6<br>LEI: 549300NSQ1W50I0VU811 | Long             | DBT              | MUN               | US        |    210000 | PA      | $209788.61    | 0.23%             | 2033-09-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| County of Prince George's MD                                                  | PRINCE GEORGES CNTY MD                                      | CUSIP: 741702CJ1<br>LEI: 549300NSQ1W50I0VU811 | Long             | DBT              | MUN               | US        |    950000 | PA      | $1055216.11   | 1.16%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Prince George's MD                                                  | PRINCE GEORGES CNTY MD                                      | CUSIP: 741702DQ4<br>LEI: 549300NSQ1W50I0VU811 | Long             | DBT              | MUN               | US        |    310000 | PA      | $343988.96    | 0.38%             | 2042-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Prince George's County Revenue Authority                                      | PRINCE GEORGES CNTY MD REVENUE AUTH REVENUE                 | CUSIP: 74173FAD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $272049.06    | 0.30%             | 2026-08-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Prince George's County Revenue Authority                                      | PRINCE GEORGES CNTY MD REVENUE AUTH REVENUE                 | CUSIP: 74173FAE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $253346.18    | 0.28%             | 2027-08-01      | Fixed         | 2.59%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                   | PUERTO RICO CMWLTH                                          | CUSIP: 74514L3H8<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1061744.50   | 1.17%             | 2029-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                   | PUERTO RICO CMWLTH                                          | CUSIP: 74514L3R6<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    750000 | PA      | $540728.78    | 0.59%             | 2033-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                        | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE           | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1090000 | PA      | $1062712.72   | 1.17%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Rockville MD                                                          | ROCKVILLE MD MAYOR & COUNCIL ECON DEV REVENUE               | CUSIP: 774223BB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003856.00   | 1.10%             | 2037-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Talbot MD                                                           | TALBOT CNTY MD                                              | CUSIP: 874160LZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1380000 | PA      | $1530739.19   | 1.68%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                        | U.S. Treasury Bills                                         | CUSIP: 912797RR0<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |    250000 | PA      | $249972.77    | 0.27%             | 2025-12-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| University System of Maryland                                                 | UNIV SYS OF MARYLAND MD AUXILARY FAC & TUITION REVENUE      | CUSIP: 9144025M0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007059.50   | 1.11%             | 2034-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Virgin Islands Transportation & Infrastructure Corp                           | VIRGIN ISLANDS TRANSPRTN & INFRASTRUCTURE CORP GRANT ANTIC  | CUSIP: 927686AQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1102005.10   | 1.21%             | 2039-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Washington MD                                                       | WASHINGTON CNTY MD CNTY COMMISSIONERS                       | CUSIP: 937752AR4<br>LEI: 54930082U8LWBDMHXX31 | Long             | DBT              | MUN               | US        |    500000 | PA      | $534046.75    | 0.59%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington Metropolitan Area Transit Authority                                | WASHINGTON DC MET AREA TRANSIT AUTH GROSS REVENUE           | CUSIP: 938782ET2<br>LEI: 549300ADKOK76HQMJS30 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1035114.20   | 1.14%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington Metropolitan Area Transit Authority Dedicated Revenue              | WASHINGTON DC MET AREA TRANSIT AUTH DEDICATED REVENUE       | CUSIP: 93878YCS6<br>LEI: 549300ADKOK76HQMJS30 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $962998.30    | 1.06%             | 2047-07-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Washington Metropolitan Area Transit Authority Dedicated Revenue              | WASHINGTON DC MET AREA TRANSIT AUTH DEDICATED REVENUE       | CUSIP: 93878YDT3<br>LEI: 549300ADKOK76HQMJS30 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1049513.10   | 1.15%             | 2053-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Washington Metropolitan Area Transit Authority Dedicated Revenue              | WASHINGTON DC MET AREA TRANSIT AUTH DEDICATED REVENUE       | CUSIP: 93878YDZ9<br>LEI: 549300ADKOK76HQMJS30 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1582963.35   | 1.74%             | 2059-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Washington Suburban Sanitary Commission                                       | WASHINGTON MD SUBURBAN SAN DIST                             | CUSIP: 9401572Z2<br>LEI: 549300EZUWNTQF827C24 | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1461072.99   | 1.60%             | 2042-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Washington Suburban Sanitary Commission                                       | WASHINGTON MD SUBURBAN SAN DIST                             | CUSIP: 940157M56<br>LEI: 549300EZUWNTQF827C24 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1503044.40   | 1.65%             | 2040-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Washington Suburban Sanitary Commission                                       | WASHINGTON SUBURBAN SAN DIST MD                             | CUSIP: 940158DF2<br>LEI: 549300EZUWNTQF827C24 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1108153.80   | 1.22%             | 2040-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington Suburban Sanitary Commission                                       | WASHINGTON SUBURBAN SAN DIST MD                             | CUSIP: 940158HG6<br>LEI: 549300EZUWNTQF827C24 | Long             | DBT              | MUN               | US        |    140000 | PA      | $139929.34    | 0.15%             | 2045-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Wicomico MD                                                         | WICOMICO CNTY MD                                            | CUSIP: 967546GR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $24783.11     | 0.03%             | 2045-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-26

**Name of Applicant:** Eaton Vance Municipals Trust

**Signature:** James Kirchner

**Name of Signer:** James Kirchner

**Title:** Treasurer