# EDGAR Filing Document

**Accession Number:** 0001424212
**File Stem:** 0000940400-26-011292
**Filing Date:** 2026-3
**Character Count:** 95192
**Document Hash:** 0ab6157121c1b6e832bb630f5518e935
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-011292.hdr.sgml**: 20260325

**ACCESSION NUMBER**: 0000940400-26-011292

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260325

**DATE AS OF CHANGE**: 20260325

**PERIOD START**: 20260731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIRST TRUST EXCHANGE-TRADED FUND III
- **CENTRAL INDEX KEY:** 0001424212

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22245
- **FILM NUMBER:** 26791842

**BUSINESS ADDRESS:**
- **STREET 1:** 120 EAST LIBERTY DRIVE
- **STREET 2:** SUITE 400
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187
- **BUSINESS PHONE:** 630-765-8000

**MAIL ADDRESS:**
- **STREET 1:** 120 EAST LIBERTY DRIVE
- **STREET 2:** SUITE 400
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** First Trust Exchange-Traded Fund III
- **DATE OF NAME CHANGE:** 20160419

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** First Trust Exchange Traded Fund III
- **DATE OF NAME CHANGE:** 20080116

## Series and Classes Contracts Data

### First Trust Ultra Short Duration Municipal ETF (Series ID: S000063443)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000205579 | First Trust Ultra Short Duration Municipal ETF | FUMB            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** First Trust Exchange-Traded Fund III

- **b. Investment Company Act file number:** 811-22245

- **c. CIK number of Registrant:** 0001424212

- **d. LEI of Registrant:** 5493003Z20QMESC6XS29

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

  - **Street Address 1:** 120 East Liberty Drive, Suite 400

  - **City:** Wheaton

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60187

  - **Telephone number:** 630-765-8000

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

- **a. Name of Series:** First Trust Ultra Short Duration Municipal ETF

- **b. EDGAR series identifier (if any):** S000063443

- **c. LEI of Series:** 549300KVHK7XJBQPJK48

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

- **a. Date of fiscal year-end:** 2026-07-31

- **b. Date as of which information is reported:** 2026-01-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $245122633.26

**Total Liabilities:** $4819712.50

**Net Assets:** $240302920.76

**Delayed Delivery Securities:** $4760188.65

**Cash Not Reported:** $4381674.96

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 4339.69042000 | **1-Year:** 10006.66925000 | **5-Year:** 692.03057000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

- **3-Month:** 6.24592000 | **1-Year:** 253.86552000 | **5-Year:** 35.46916000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000205579 | 0.28%                | 0.23%                | 0.38%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-14300.39               | $101443.99                                 |
| Month 2  | $-66.56                  | $31410.51                                  |
| Month 3  | $-609.53                 | $322923.21                                 |

### Schedule of Portfolio Investments

| Name                           | Title                                                                            | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| SALT LAKE CITY UT ARPT REVENUE | City of Salt Lake City UT Airport Revenue                                        | CUSIP: 795576FK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2020115.60   | 0.84%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORT WAYNE IN CMNTY SCHS       | Fort Wayne Community Schools                                                     | CUSIP: 349244HB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1535353.20   | 0.64%             | 2027-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BROWARD CNTY FL SCH DIST       | School District of Broward County/FL                                             | CUSIP: 115067MT4<br>LEI: 5493006KVNQDJ1D0OD92 | Long             | DBT              | MUN               | US        |   1675000 | PA      | $1685999.73   | 0.70%             | 2026-06-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R | Massachusetts Development Finance Agency                                         | CUSIP: 57585BJG4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007736.40   | 0.42%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PUBLIC ENERGY AUTH | Kentucky Public Energy Authority                                                 | CUSIP: 74440DEP5<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |    615000 | PA      | $620684.57    | 0.26%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO FIN AUTH REVENUE    | New Mexico Finance Authority                                                     | CUSIP: 64711PSZ4<br>LEI: 549300L6217Y7X40SP94 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1024199.70   | 0.43%             | 2026-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                                | CUSIP: 452152S51<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020306.30   | 0.42%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GEISINGER PA AUTH HLTH SYS REV | Geisinger Authority                                                              | CUSIP: 368497JX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1773313.68   | 0.74%             | 2043-04-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HLTH & EDUCTNL FAC | Health & Educational Facilities Authority of the State of Missouri               | CUSIP: 60637ATQ5<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1204225.92   | 0.50%             | 2051-05-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL  | Black Belt Energy Gas District                                                   | CUSIP: 09182TEY9<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    850000 | PA      | $859161.05    | 0.36%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HUDSON MA                      | Town of Hudson MA                                                                | CUSIP: 443852XA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005167.30   | 0.42%             | 2026-06-11      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RICHMOND VA REDEV & HSG AUTH M | Richmond Redevelopment & Housing Authority                                       | CUSIP: 76543PBC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1500911.70   | 0.62%             | 2055-12-01      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN  | New Hope Cultural Education Facilities Finance Corp                              | CUSIP: 64542UHR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $515061.55    | 0.21%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST MID-BAY BRIDGE AUTH | Mid-Bay Bridge Authority                                                         | CUSIP: 342814EC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1015538.70   | 0.42%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER CITY & CNTY CO SCH DIST | Denver City & County School District No 1                                        | CUSIP: 249174YT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $511598.35    | 0.21%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REGL TRANSIT AUTH LA SALES TAX | Regional Transit Authority Sales Tax Revenue                                     | CUSIP: 75912RCD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1110000 | PA      | $1136611.36   | 0.47%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TONAWANDA TOWN NY              | Town of Tonawanda NY                                                             | CUSIP: 890210RJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1513911.15   | 0.63%             | 2026-08-21      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TULSA CNTY OK INDL AUTH EDUCTN | Tulsa County Industrial Authority                                                | CUSIP: 89952PHX6<br>LEI: 549300WEYXBXLGN1E271 | Long             | DBT              | MUN               | US        |    250000 | PA      | $259203.13    | 0.11%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTHORITY A C | Southeast Energy Authority A Cooperative District                                | CUSIP: 84136HCQ4<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    500000 | PA      | $518772.80    | 0.22%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSION TX ECON DEV CORP SOL W | Mission Economic Development Corp                                                | CUSIP: 605155BQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1450000.00   | 0.60%             | 2050-05-01      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE-MECKLENBURG NC HOSP  | Charlotte-Mecklenburg Hospital Authority/The                                     | CUSIP: 160853VF1<br>LEI: 549300XOH4JU704GMZ32 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1008706.40   | 0.42%             | 2050-01-15      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| GRAND RAPIDS MI WTR SPLY SYS R | City of Grand Rapids MI Water Supply System Revenue                              | CUSIP: 386316PX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $768118.20    | 0.32%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST EDUC LOAN PROGRAM  | Colorado State Education Loan Program                                            | CUSIP: 19672MDG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1235000 | PA      | $1248524.36   | 0.52%             | 2026-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HIGHWAY & TRANSPRT | Missouri Highway & Transportation Commission                                     | CUSIP: 60636WSY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1761924.85   | 0.73%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST HLTH & HGR EDUCTNL | Maryland Health & Higher Educational Facilities Authority                        | CUSIP: 57421CLB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $403031.64    | 0.17%             | 2026-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST DEPT OF HSG & CMNTY A | Texas Department of Housing & Community Affairs                                  | CUSIP: 88275AET3<br>LEI: 549300J3RRLLZZN4WP77 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000240.00   | 0.42%             | 2028-08-01      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| NEWARK NJ                      | City of Newark NJ                                                                | CUSIP: 650367TJ4<br>LEI: 5493008RBPM01QHRYX34 | Long             | DBT              | MUN               | US        |   1205000 | PA      | $1244962.14   | 0.52%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLUMBUS GA MED CTR HOSP AUTH  | Columbus Medical Center Hospital Authority                                       | CUSIP: 199124BQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1503096.30   | 0.63%             | 2054-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| PEABODY MA                     | City of Peabody MA                                                               | CUSIP: 70457PHD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1511083.35   | 0.63%             | 2026-07-10      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST FIN AUTH REVENUE   | Michigan Finance Authority                                                       | CUSIP: 59447UAC4<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1267691.38   | 0.53%             | 2026-08-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA ST HLTH & EDUCTNL | South Dakota Health & Educational Facilities Authority                           | CUSIP: 83755VX33<br>LEI: 549300ZW6LKR8UI2C378 | Long             | DBT              | MUN               | US        |    475000 | PA      | $480991.60    | 0.20%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER COLORADO RIVER TX AUTH R | Lower Colorado River Authority                                                   | CUSIP: 54811GQ37<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |    600000 | PA      | $620488.62    | 0.26%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT OF SEATTLE WA REVENUE     | Port of Seattle WA                                                               | CUSIP: 735389C63<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1028379.90   | 0.43%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PASCO CNTY FL CAPITAL IMPT CIG | County of Pasco FL                                                               | CUSIP: 70252AAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    865000 | PA      | $878403.35    | 0.37%             | 2026-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTHORITY A C | Southeast Energy Authority A Cooperative District                                | CUSIP: 84136HBV4<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    330000 | PA      | $333474.87    | 0.14%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SEMINOLE CNTY FL SCH DIST SALE | Seminole County School District Sales Tax Revenue                                | CUSIP: 816696AB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $509100.80    | 0.21%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HEUVELTON NY CENTRL SCH DIST   | Heuvelton Central School District                                                | CUSIP: 428218EW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1508683.05   | 0.63%             | 2026-06-18      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JERSEY CITY NJ REDEV AGY       | Jersey City Redevelopment Agency                                                 | CUSIP: 476637BM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1529766.15   | 0.64%             | 2026-12-09      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ADAMS & ARAPAHOE CNTYS CO JT S | Adams & Arapahoe Counties Joint School District 28J Aurora                       | CUSIP: 0054824G6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1027371.30   | 0.43%             | 2026-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HAMILTON CNTY OH HOSP FACS REV | County of Hamilton OH                                                            | CUSIP: 4072722B8<br>LEI: 549300TO1E3N4E4YIO28 | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1700000.00   | 0.71%             | 2051-08-15      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY-HOUSTON TX SPORTS  | Harris County-Houston Sports Authority                                           | CUSIP: 413890GP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1019036.70   | 0.42%             | 2026-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AUSTIN TX ARPT SYS REVENUE     | City of Austin TX Airport System Revenue                                         | CUSIP: 052398HZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    380000 | PA      | $395430.20    | 0.16%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW BRUNSWICK NJ               | City of New Brunswick NJ                                                         | CUSIP: 642815V92<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1509344.25   | 0.63%             | 2026-04-28      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER COLORADO RIVER TX AUTH R | Lower Colorado River Authority                                                   | CUSIP: 54811GQ29<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |    750000 | PA      | $755684.33    | 0.31%             | 2026-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX ARPT SYS REVENUE    | City of Houston TX Airport System Revenue                                        | CUSIP: 442349DJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1017778.60   | 0.42%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL  | Black Belt Energy Gas District                                                   | CUSIP: 09182TGN1<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    800000 | PA      | $827324.64    | 0.34%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA                 | City of Los Angeles CA                                                           | CUSIP: 544351SF7<br>LEI: 549300E7TO710PTXPJ65 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1517251.35   | 0.63%             | 2026-06-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON CNTY VA INDL DEV AUT | Arlington County Industrial Development Authority                                | CUSIP: 04144PDY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000220.40   | 0.42%             | 2055-12-01      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PROPERTY & BLDGS C | Kentucky State Property & Building Commission                                    | CUSIP: 49151F6U9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $279395.99    | 0.12%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COOK CNTY IL HIGH SCH DIST #20 | Maine Township High School District No 207                                       | CUSIP: 215543LZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1428857.08   | 0.59%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R | Massachusetts Development Finance Agency                                         | CUSIP: 57585BNJ3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1035529.20   | 0.43%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MORRIS TWP NJ                  | Township of Morris NJ                                                            | CUSIP: 618329QC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1512851.10   | 0.63%             | 2026-09-24      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| MET WASHINGTON DC ARPTS AUTH A | Metropolitan Washington Airports Authority Aviation Revenue                      | CUSIP: 592647LJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1220242.32   | 0.51%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TX ELEC & GAS REVE | City of San Antonio TX Electric & Gas Systems Revenue                            | CUSIP: 79625GMG5<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |    460000 | PA      | $472592.27    | 0.20%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MCCOOK NE                      | City of McCook NE                                                                | CUSIP: 579729EW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1012156.40   | 0.42%             | 2027-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND CNTY NC INDL FACS & | Cumberland County Industrial Facilities & Pollution Control Financing Authority  | CUSIP: 230589AB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1501260.75   | 0.62%             | 2027-12-01      | Variable      | 3.12%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX CULTURAL EDU FA | Harris County Cultural Education Facilities Finance Corp                         | CUSIP: 414009PP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1019614.60   | 0.42%             | 2032-06-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST BEND WI JT SCH DIST #1    | West Bend Joint School District No 1                                             | CUSIP: 951393PY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $611381.88    | 0.25%             | 2027-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CYPRESS-FAIRBANKS TX INDEP SCH | Cypress-Fairbanks Independent School District                                    | CUSIP: 232769KX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000963.60   | 0.42%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N TX TOLLWAY AUTH REVENUE      | North Texas Tollway Authority                                                    | CUSIP: 66285WU95<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2048315.20   | 0.85%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VOORHEES TWP NJ                | Township of Voorhees NJ                                                          | CUSIP: 928895RQ6<br>LEI: 5493006HU7IJTEPI8B67 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1514929.20   | 0.63%             | 2026-09-17      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE   | Illinois Finance Authority                                                       | CUSIP: 45204FAH8<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1500000.00   | 0.62%             | 2049-08-15      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| PERRY TWP IN SCHS MARION CNTY  | Perry Township Schools/Marion County IN                                          | CUSIP: 715000CG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1535353.20   | 0.64%             | 2027-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DALLAS-FORT WORTH TX INTERNATI | Dallas Fort Worth International Airport                                          | CUSIP: 23503CFN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2079123.80   | 0.87%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY MUNI WTR FIN  | New York City Municipal Water Finance Authority                                  | CUSIP: 64972GZW7<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.42%             | 2033-06-15      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| GTR ORLANDO FL AVIATION AUTH A | Greater Orlando Aviation Authority                                               | CUSIP: 392274R73<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1015405.80   | 0.42%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FRANKLIN CNTY OH HOSP FACS REV | County of Franklin OH                                                            | CUSIP: 353187EZ6<br>LEI: 549300VCBUC1RZE7KL42 | Long             | DBT              | MUN               | US        |    300000 | PA      | $313440.96    | 0.13%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH SO | California Municipal Finance Authority                                           | CUSIP: 13048RAK3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1500280.35   | 0.62%             | 2051-07-01      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| HUBER HEIGHTS OH               | City of Huber Heights OH                                                         | CUSIP: 443524XD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1766590.88   | 0.74%             | 2026-06-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA ST HLTH & EDUCTNL | South Dakota Health & Educational Facilities Authority                           | CUSIP: 83755VZ64<br>LEI: 549300ZW6LKR8UI2C378 | Long             | DBT              | MUN               | US        |   1045000 | PA      | $1058215.28   | 0.44%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST BEND WI JT SCH DIST #1    | West Bend Joint School District No 1                                             | CUSIP: 951393PX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $707445.83    | 0.29%             | 2026-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST GRANT ANTICI | State of North Carolina                                                          | CUSIP: 658268EY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1544759.40   | 0.64%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL  | Black Belt Energy Gas District                                                   | CUSIP: 09182TAM9<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1725000 | PA      | $1744049.35   | 0.73%             | 2052-10-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| DOWNTOWN REVITALIZATION PUBLIC | Downtown Revitalization Public Infrastructure District                           | CUSIP: 26118TAB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $309834.75    | 0.13%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KING CNTY WA SCH DIST #409 TAH | King County School District No 409 Tahoma                                        | CUSIP: 495188QB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1125240.71   | 0.47%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE | South Carolina Jobs-Economic Development Authority                               | CUSIP: 83703FKY7<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1509094.05   | 0.63%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH RE | New Jersey Economic Development Authority                                        | CUSIP: 64577B6K5<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2034720.60   | 0.85%             | 2026-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALG | Black Belt Energy Gas District                                                   | CUSIP: 09182RBE0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    550000 | PA      | $553634.24    | 0.23%             | 2049-10-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ST HSG DEV FUND  | West Virginia Housing Development Fund                                           | CUSIP: 956629AK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1651314.06   | 0.69%             | 2028-11-01      | Variable      | 2.88%                 | No            |                  2 | On Loan: No      |
| PMA LEVY & AID ANTIC NTS PROGR | PMA Levy & Aid Anticipation Notes Program                                        | CUSIP: 730146DQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1520000 | PA      | $1544079.84   | 0.64%             | 2026-09-24      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MEDFORD OR HOSP FACS AUTH REVE | Medford Hospital Facilities Authority                                            | CUSIP: 584283GK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1037953.00   | 0.43%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN AUTH EDUCTNL FACS  | Indiana Finance Authority                                                        | CUSIP: 45470EEX9<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    350000 | PA      | $354577.20    | 0.15%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FRANKLIN CNTY OH HOSP FACS REV | County of Franklin OH                                                            | CUSIP: 353187EY9<br>LEI: 549300VCBUC1RZE7KL42 | Long             | DBT              | MUN               | US        |    385000 | PA      | $392485.98    | 0.16%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST HLTH & HGR EDUCTNL | Maryland Health & Higher Educational Facilities Authority                        | CUSIP: 57421CMY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $607494.60    | 0.25%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BATAVIA NY                     | City of Batavia NY                                                               | CUSIP: 070419MY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $451669.95    | 0.19%             | 2026-04-22      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HLTH & EDUCTNL FAC | Health & Educational Facilities Authority of the State of Missouri               | CUSIP: 60637AXT4<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |    855000 | PA      | $870940.02    | 0.36%             | 2026-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WATERLOO NY CENTRL SCH DIST    | Waterloo Central School District                                                 | CUSIP: 941774MT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1259021.75   | 0.52%             | 2026-07-30      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| RALEIGH DURHAM NC ARPT AUTH AR | Raleigh Durham Airport Authority                                                 | CUSIP: 751073KZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1490000 | PA      | $1498474.23   | 0.62%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH REVENUE    | Indiana Finance Authority                                                        | CUSIP: 45506ENL3<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    365000 | PA      | $365506.22    | 0.15%             | 2026-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HERITAGE HARBOUR FL N CDD CAPI | Heritage Harbour North Community Development District                            | CUSIP: 42726UAL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    695000 | PA      | $714205.21    | 0.30%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WHITING IN ENVRNMNTL FACS REVE | City of Whiting IN                                                               | CUSIP: 96634RAU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1511392.65   | 0.63%             | 2044-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST ASSN OF GOVT | South Carolina Association of Governmental Organizations                         | CUSIP: 836895FT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1795000 | PA      | $1798812.22   | 0.75%             | 2026-03-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL  | Black Belt Energy Gas District                                                   | CUSIP: 09182TAF4<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011043.10   | 0.42%             | 2052-10-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH KINGSTOWN RI             | Town of South Kingstown RI                                                       | CUSIP: 838566S40<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1258072.38   | 0.52%             | 2026-06-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OLATHE KS                      | City of Olathe KS                                                                | CUSIP: 679384RC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1523285.55   | 0.63%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FALL RIVER MA                  | City of Fall River MA                                                            | CUSIP: 3062977Y2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1523098.95   | 0.63%             | 2027-01-29      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEWISBURG TN INDL DEV BRD SOL  | Lewisburg Industrial Development Board                                           | CUSIP: 528236AC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.42%             | 2035-07-02      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI HOSP REVENU | Public Finance Authority                                                         | CUSIP: 74442CET7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    750000 | PA      | $771300.15    | 0.32%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BEREA KY EDUCTNL FACS REVENUE  | City of Berea KY                                                                 | CUSIP: 083536BE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    965000 | PA      | $965000.00    | 0.40%             | 2029-06-01      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL EDUCTNL FAC | Miami-Dade County Educational Facilities Authority                               | CUSIP: 59333AND9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    510000 | PA      | $511999.66    | 0.21%             | 2026-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PARK CREEK MET DIST CO LIMITED | Park Creek Metropolitan District                                                 | CUSIP: 700385BP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1045624.20   | 0.44%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R | Massachusetts Development Finance Agency                                         | CUSIP: 57585BDF2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    450000 | PA      | $457099.02    | 0.19%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTH OF NEW YORK & NEW JE | Port Authority of New York & New Jersey                                          | CUSIP: 73358XJU7<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |    375000 | PA      | $382230.90    | 0.16%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PALM BEACH CNTY FL SCH BRD COP | Palm Beach County School District                                                | CUSIP: 696550L75<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $760059.00    | 0.32%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EAGLE MOUNTAIN & SAGINAW TX IN | Eagle Mountain & Saginaw Independent School District                             | CUSIP: 269696TH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    895000 | PA      | $908317.96    | 0.38%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL  | Black Belt Energy Gas District                                                   | CUSIP: 09182TFA0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1032238.40   | 0.43%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTFIELD NJ SCH DIST          | Westfield School District/NJ                                                     | CUSIP: 960130LY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1514506.20   | 0.63%             | 2026-09-03      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST                  | State of New Jersey                                                              | CUSIP: 646039YK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009205.80   | 0.42%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PROPERTY & BLDGS C | Kentucky State Property & Building Commission                                    | CUSIP: 49151F5W6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $380994.53    | 0.16%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET WASHINGTON DC ARPTS AUTH A | Metropolitan Washington Airports Authority Aviation Revenue                      | CUSIP: 592647HF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1525302.90   | 0.63%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHATTANOOGA TN HLTH EDUCTNL &H | Chattanooga Health Educational & Housing Facility Board                          | CUSIP: 162410DX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1570000 | PA      | $1587777.58   | 0.66%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PLAINFIELD IL WTR & SWR SYS RE | Village of Plainfield IL Water & Sewer System Revenue                            | CUSIP: 726273CY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $427587.27    | 0.18%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTHORITY A C | Southeast Energy Authority A Cooperative District                                | CUSIP: 84136HBD4<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    500000 | PA      | $503599.50    | 0.21%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH REVENUE    | Indiana Finance Authority                                                        | CUSIP: 45506EQD8<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    500000 | PA      | $521461.80    | 0.22%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority                            | CUSIP: 708692BE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1250569.13   | 0.52%             | 2030-12-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| WINCHESTER MA                  | Town of Winchester MA                                                            | CUSIP: 9730245V0<br>LEI: 549300YOV2B42TT06X20 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1253234.75   | 0.52%             | 2026-03-26      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH KANSAS CITY MO SCH DIST  | North Kansas City School District No 74                                          | CUSIP: 660266LN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002135.00   | 0.42%             | 2026-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AUSTIN TX ARPT SYS REVENUE     | City of Austin TX Airport System Revenue                                         | CUSIP: 052398HY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    255000 | PA      | $259593.65    | 0.11%             | 2026-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BURKE CNTY GA DEV AUTH POLL CO | Development Authority of Burke County/The                                        | CUSIP: 121342PQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1600000.00   | 0.67%             | 2052-11-01      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES | New York State Dormitory Authority                                               | CUSIP: 64990GTD4<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1252325.13   | 0.52%             | 2048-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NV ARPT REVENUE     | County of Clark Department of Aviation                                           | CUSIP: 18085PTC8<br>LEI: 549300LDD8NZB2EOVG83 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1112390.51   | 0.46%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV | Colorado Health Facilities Authority                                             | CUSIP: 19648FZU1<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    255000 | PA      | $260945.58    | 0.11%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL  | New York City Transitional Finance Authority Future Tax Secured Revenue          | CUSIP: 64972JSE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 0.21%             | 2054-11-01      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| PLANO TX INDEP SCH DIST        | Plano Independent School District                                                | CUSIP: 727199D73<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001000.50   | 0.42%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MOBILE AL INDL DEV BRD POLL CO | Industrial Development Board of the City of Mobile Alabama                       | CUSIP: 607167DX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2001284.40   | 0.83%             | 2034-07-15      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTHORITY A C | Southeast Energy Authority A Cooperative District                                | CUSIP: 84136HBW2<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    555000 | PA      | $566213.05    | 0.24%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BROWARD CNTY FL PORT FACS REVE | County of Broward FL Port Facilities Revenue                                     | CUSIP: 11506KHE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $542179.47    | 0.23%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FULTON CNTY GA WTR & SWR REVEN | County of Fulton GA Water & Sewerage Revenue                                     | CUSIP: 360066NT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001834.40   | 0.42%             | 2034-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CMWLTH FING AUTH PA TOBACCO MA | Commonwealth Financing Authority                                                 | CUSIP: 20282EAG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1310000 | PA      | $1321447.44   | 0.55%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KELLER TX INDEP SCH DIST       | Keller Independent School District/TX                                            | CUSIP: 487694VE8<br>LEI: 549300BS0JDJPR8KUN68 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000982.00   | 0.42%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET GOVT NASHVILLE & DAVIDSON  | Metropolitan Government Nashville & Davidson County Health & Educational Facs Bd | CUSIP: 592113BY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000341.00   | 0.42%             | 2026-04-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| HUDSON CNTY NJ IMPT AUTH       | Hudson County Improvement Authority                                              | CUSIP: 443728GN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006371.50   | 0.42%             | 2026-06-24      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST HLTH & HGR EDUCTNL | Maryland Health & Higher Educational Facilities Authority                        | CUSIP: 57421CLC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $310166.82    | 0.13%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER COLORADO RIVER TX AUTH T | Lower Colorado River Authority                                                   | CUSIP: 54811BS36<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |    500000 | PA      | $517073.85    | 0.22%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| QUINCY MA                      | City of Quincy MA                                                                | CUSIP: 748508Y93<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1518677.70   | 0.63%             | 2026-07-24      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP HLTHCAREF | Florida Development Finance Corp                                                 | CUSIP: 34061QCY1<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    250000 | PA      | $259191.15    | 0.11%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO ST MUNI ENERGY ACQU | New Mexico Municipal Energy Acquisition Authority                                | CUSIP: 647207BD0<br>LEI: 549300KZGG2YNDKKCE92 | Long             | DBT              | MUN               | US        |    475000 | PA      | $477452.14    | 0.20%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER CITY & CNTY CO ARPT REV | City & County of Denver CO Airport System Revenue                                | CUSIP: 249182KZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1460000 | PA      | $1488758.50   | 0.62%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COOK CNTY IL SALES TAX REVENUE | County of Cook IL Sales Tax Revenue                                              | CUSIP: 213248FA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $836055.20    | 0.35%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTHORITY A C | Southeast Energy Authority A Cooperative District                                | CUSIP: 84136HBE2<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    500000 | PA      | $507616.35    | 0.21%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA HSG FIN AGY M | District of Columbia Housing Finance Agency                                      | CUSIP: 25477PQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1145000 | PA      | $1145531.97   | 0.48%             | 2041-09-01      | Variable      | 2.88%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN  | New Hope Cultural Education Facilities Finance Corp                              | CUSIP: 64542UHQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $608812.32    | 0.25%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST HLTH & HGR EDUCTNL | Maryland Health & Higher Educational Facilities Authority                        | CUSIP: 57421CJE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1780000 | PA      | $1842737.88   | 0.77%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL SCH BRD COP | School Board of Miami-Dade County/The                                            | CUSIP: 59333MW68<br>LEI: 549300J3U4QVT6U3O129 | Long             | DBT              | MUN               | US        |   2690000 | PA      | $2707521.05   | 1.13%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                                | CUSIP: 452152V65<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1530459.45   | 0.64%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DU PAGE CNTY IL FOREST PRESERV | DuPage County Forest Preserve District                                           | CUSIP: 262651VG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1197670.57   | 0.50%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA | Main Street Natural Gas Inc                                                      | CUSIP: 56035DCR1<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1508702.55   | 0.63%             | 2050-03-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| HAMILTON CNTY OH HLTH CARE REV | County of Hamilton OH                                                            | CUSIP: 40727RCN6<br>LEI: 549300TO1E3N4E4YIO28 | Long             | DBT              | MUN               | US        |    280000 | PA      | $284289.63    | 0.12%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA JOBS-ECON DEV A | South Carolina Jobs-Economic Development Authority                               | CUSIP: 83703DAA5<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001197.90   | 0.42%             | 2033-04-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF SOUTH ALABAMA AL UNIV  | University of South Alabama                                                      | CUSIP: 914845VB5<br>LEI: 549300U394SOV3NGG049 | Long             | DBT              | MUN               | US        |    750000 | PA      | $753103.13    | 0.31%             | 2026-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH NY BRIDGE & TUNNEL  | Triborough Bridge & Tunnel Authority                                             | CUSIP: 89602HJA6<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1546683.75   | 0.64%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST SALES TAX REVENUE  | State of Illinois Sales Tax Revenue                                              | CUSIP: 452227VT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1553093.10   | 0.65%             | 2027-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH SYRACUSE NY CENTRL SCH D | North Syracuse Central School District                                           | CUSIP: 662735PJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1357020 | PA      | $1367772.62   | 0.57%             | 2026-07-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEMONT IL FIRE PROT DIST       | Lemont Fire Protection District                                                  | CUSIP: 525680BH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1115000 | PA      | $1141038.37   | 0.47%             | 2026-12-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF ARPTS A | City of Los Angeles Department of Airports                                       | CUSIP: 544445XQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1790000 | PA      | $1845125.74   | 0.77%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority                            | CUSIP: 70870JHB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $410832.08    | 0.17%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH ECON DEV R | Indiana Finance Authority                                                        | CUSIP: 45505RBN4<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1500343.20   | 0.62%             | 2028-05-01      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST HLTH & HGR EDUCTNL | Maryland Health & Higher Educational Facilities Authority                        | CUSIP: 57421CMZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    535000 | PA      | $554948.44    | 0.23%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UPPER TRINITY TX REGL WTR DIST | Upper Trinity Regional Water District                                            | CUSIP: 916672Y69<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $506407.15    | 0.21%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KYLE TX                        | City of Kyle TX                                                                  | CUSIP: 501552NZ2<br>LEI: 549300K0SYODYQ0ANN48 | Long             | DBT              | MUN               | US        |    700000 | PA      | $710039.82    | 0.30%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAKELAND FL CAPITAL IMPT REVEN | City of Lakeland FL                                                              | CUSIP: 511662ES3<br>LEI: XRPK4ZALF4437WO3JQ94 | Long             | DBT              | MUN               | US        |    500000 | PA      | $508734.05    | 0.21%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SELKIRK FIRE DIST NY           | Selkirk Fire District                                                            | CUSIP: 81640AAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1516174.95   | 0.63%             | 2026-08-28      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| UPPER TRINITY TX REGL WTR DIST | Upper Trinity Regional Water District                                            | CUSIP: 916672W20<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $550333.08    | 0.23%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAINE ST MUNI BOND BANK INFRAS | Maine Municipal Bond Bank                                                        | CUSIP: 56045PDL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $507934.40    | 0.21%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRIPLE CREEK FL CDD SPL ASSMNT | Triple Creek Community Development District                                      | CUSIP: 89677RAY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $128758.31    | 0.05%             | 2026-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| EL PASO TX INDEP SCH DIST      | El Paso Independent School District                                              | CUSIP: 283770PZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $557261.71    | 0.23%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE ST HLTH FACS AUTH REV | Delaware State Health Facilities Authority                                       | CUSIP: 246388UV2<br>LEI: 549300RXU7M05ZYSJG42 | Long             | DBT              | MUN               | US        |    400000 | PA      | $406570.12    | 0.17%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREENVILLE CNTY SC SCH DIST    | Greenville County School District                                                | CUSIP: 396064G76<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1820000 | PA      | $1840072.96   | 0.77%             | 2026-06-29      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST MUNI PWR AGY        | Indiana Municipal Power Agency                                                   | CUSIP: 454898YD3<br>LEI: AX0ZCCVOQ71Z4RXBL233 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1024616.20   | 0.43%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET GOVT NASHVILLE & DAVIDSON  | Metropolitan Government Nashville & Davidson County Health & Educational Facs Bd | CUSIP: 592113CW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1507852.05   | 0.63%             | 2042-12-01      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HLTH & EDUCTNL FAC | Health & Educational Facilities Authority of the State of Missouri               | CUSIP: 60637AXU1<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1041674.70   | 0.43%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PARK CREEK MET DIST CO LIMITED | Park Creek Metropolitan District                                                 | CUSIP: 700385BN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    660000 | PA      | $673219.80    | 0.28%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST DEPT OF HSG & CMNTY A | Texas Department of Housing & Community Affairs                                  | CUSIP: 88275AEP1<br>LEI: 549300J3RRLLZZN4WP77 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003574.40   | 0.42%             | 2041-03-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| HAMILTON CNTY OH SALES TAX     | County of Hamilton OH Sales Tax Revenue                                          | CUSIP: 407287MX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1532139.30   | 0.64%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH SOL WST D | New Hampshire Business Finance Authority                                         | CUSIP: 63608RAF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3503901.45   | 1.46%             | 2033-07-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| TENDER OPTION BOND TRUST RECEI | Tender Option Bond Trust Receipts/Certificates                                   | CUSIP: 88035FW71<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000000.00   | 0.83%             | 2026-10-01      | Variable      | 3.32%                 | No            |                  2 | On Loan: No      |
| OHIO ST AIR QUALITY DEV AUTH   | Ohio Air Quality Development Authority                                           | CUSIP: 677525WV5<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2032366.80   | 0.85%             | 2039-11-01      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| N W ALLEN CNTY IN SCHS         | Northwest Allen County Schools/IN                                                | CUSIP: 667301CP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $505463.60    | 0.21%             | 2026-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT LOUIS MO ARPT REVENUE    | City of St Louis MO Airport Revenue                                              | CUSIP: 791638L31<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010099.30   | 0.42%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAMILTON CNTY OH HLTH CARE REV | County of Hamilton OH                                                            | CUSIP: 40727RCP1<br>LEI: 549300TO1E3N4E4YIO28 | Long             | DBT              | MUN               | US        |    300000 | PA      | $309262.05    | 0.13%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRISTOL WARREN RI REGL SCH DIS | Bristol Warren Regional School District                                          | CUSIP: 110377DP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1512679.35   | 0.63%             | 2026-06-04      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA ST FIN AUTH SOL WST FACS  | Iowa Finance Authority                                                           | CUSIP: 46246YAB8<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |    620000 | PA      | $619857.40    | 0.26%             | 2042-01-01      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA ARPT REVENUE   | City of Philadelphia PA Airport Revenue                                          | CUSIP: 717817TZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    995000 | PA      | $1026977.61   | 0.43%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RACINE WI                      | City of Racine WI                                                                | CUSIP: 750022KQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002126.10   | 0.42%             | 2027-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| RICHARDSON TX                  | City of Richardson TX                                                            | CUSIP: 763227U60<br>LEI: 549300YMK2Z7UGNHHQ13 | Long             | DBT              | MUN               | US        |   1170000 | PA      | $1171192.23   | 0.49%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLEN CNTY OH HOSP FACS REVENU | County of Allen OH Hospital Facilities Revenue                                   | CUSIP: 01757LFR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1810000 | PA      | $1833103.93   | 0.76%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE   | Illinois Finance Authority                                                       | CUSIP: 45204EES3<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1251075.13   | 0.52%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TULSA CNTY OK INDL AUTH EDUCTN | Tulsa County Industrial Authority                                                | CUSIP: 89952PHW8<br>LEI: 549300WEYXBXLGN1E271 | Long             | DBT              | MUN               | US        |    750000 | PA      | $760243.50    | 0.32%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY       | Minnesota Housing Finance Agency                                                 | CUSIP: 60416URD9<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    500000 | PA      | $502031.90    | 0.21%             | 2027-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALISBURY MA                   | Town of Salisbury MA                                                             | CUSIP: 795302KQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1514686.50   | 0.63%             | 2026-09-03      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MISSION TX ECON DEV CORP SOL W | Mission Economic Development Corp                                                | CUSIP: 605155BS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $750171.60    | 0.31%             | 2040-07-01      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST FIN AUTH REVENUE   | Michigan Finance Authority                                                       | CUSIP: 59447UAF7<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1035529.20   | 0.43%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARTFORD CT SPL OBLIG          | City of Hartford CT                                                              | CUSIP: 416464AM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1265418.88   | 0.53%             | 2026-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HLTH CARE FACS A | Washington Health Care Facilities Authority                                      | CUSIP: 93978HD28<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |    650000 | PA      | $658953.17    | 0.27%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV HOSPS & CLINICS AUTH WI   | University of Wisconsin Hospitals & Clinics                                      | CUSIP: 915260FV0<br>LEI: 549300O76DW14JGO7224 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1200000.00   | 0.50%             | 2054-04-01      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA HSG FIN AGY M | District of Columbia Housing Finance Agency                                      | CUSIP: 25477PPQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001322.60   | 0.42%             | 2040-09-01      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| PEFA INC IA GAS PROJ REVENUE   | PEFA Inc                                                                         | CUSIP: 70556CAB0<br>LEI: 549300RSE249DJNRHY07 | Long             | DBT              | MUN               | US        |   1735000 | PA      | $1755659.34   | 0.73%             | 2049-09-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG DEV AUTH MF HS | Michigan State Housing Development Authority                                     | CUSIP: 59465FAF7<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000429.70   | 0.42%             | 2029-05-01      | Variable      | 2.92%                 | No            |                  2 | On Loan: No      |
| CENTRL TX REGL MOBILITY AUTH R | Central Texas Regional Mobility Authority                                        | CUSIP: 155498LY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1504930.05   | 0.63%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES | New York State Dormitory Authority                                               | CUSIP: 64985SCX9<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1273419.63   | 0.53%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AMHERST NY CENTRL SCH DIST     | Amherst Central School District                                                  | CUSIP: 031321LS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1008317 | PA      | $1017369.87   | 0.42%             | 2026-08-05      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST MUNI PWR AGY        | Florida Municipal Power Agency                                                   | CUSIP: 342816T88<br>LEI: 549300M3I10QJUPNU131 | Long             | DBT              | MUN               | US        |    645000 | PA      | $655751.44    | 0.27%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA | Chicago O'Hare International Airport                                             | CUSIP: 1675935K4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020864.90   | 0.42%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV | Colorado Health Facilities Authority                                             | CUSIP: 19648FYX6<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    250000 | PA      | $253600.63    | 0.11%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BREVARD CNTY FL HSG FIN AUTH M | Brevard County Housing Finance Authority                                         | CUSIP: 106904FY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1508805.30   | 0.63%             | 2028-02-01      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE  | Metropolitan Transportation Authority                                            | CUSIP: 59261A5R4<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1030000 | PA      | $1052044.58   | 0.44%             | 2026-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BURLESON TX INDEP SCH DIST     | Burleson Independent School District                                             | CUSIP: 1214034M8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2055000 | PA      | $2055000.00   | 0.86%             | 2038-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY OH HLTH CARE F | County of Montgomery OH                                                          | CUSIP: 613518CN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    340000 | PA      | $344308.41    | 0.14%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAMPSON CNTY NC LIMITED OBLIG  | County of Sampson NC                                                             | CUSIP: 79588VBV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $417883.20    | 0.17%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST PORT AUTH     | Massachusetts Port Authority                                                     | CUSIP: 575896SZ9<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2065969.20   | 0.86%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST INFRASTRUCTURE & | California Infrastructure & Economic Development Bank                            | CUSIP: 13034A7F1<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000487.90   | 0.42%             | 2065-01-01      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST HLTH & HGR EDUCTNL | Maryland Health & Higher Educational Facilities Authority                        | CUSIP: 57421CHB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $757823.85    | 0.32%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL WTR & SWR R | County of Miami-Dade FL Water & Sewer System Revenue                             | CUSIP: 59334DQQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2035469.40   | 0.85%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METUCHEN NJ                    | Borough of Metuchen NJ                                                           | CUSIP: 592693PL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1259093.75   | 0.52%             | 2026-07-07      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ESSEX CNTY NJ IMPT AUTH        | Essex County Improvement Authority                                               | CUSIP: 296807MM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003346.00   | 0.42%             | 2026-03-17      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSION TX ECON DEV CORP SOL W | Mission Economic Development Corp                                                | CUSIP: 605155BR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000228.80   | 0.42%             | 2046-05-01      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| MILFORD OH EXEMPT VLG SCH DIST | Milford Exempted Village School District                                         | CUSIP: 599632LX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $612866.88    | 0.26%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE   | Illinois Finance Authority                                                       | CUSIP: 45204FP33<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1525495.65   | 0.63%             | 2036-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| POLK CNTY FL PUBLIC FACS REVEN | County of Polk FL                                                                | CUSIP: 731124CD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $767021.78    | 0.32%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N W ALLEN CNTY IN SCHS         | Northwest Allen County Schools/IN                                                | CUSIP: 667301CQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $639492.25    | 0.27%             | 2027-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST AIR QUALITY DEV AUTH   | Ohio Air Quality Development Authority                                           | CUSIP: 677525WY9<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1500049.80   | 0.62%             | 2026-05-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| BERGEN CNTY NJ IMPT AUTH       | Bergen County Improvement Authority/The                                          | CUSIP: 083773EC1<br>LEI: 549300GA3U8F8Z1HOS09 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005019.00   | 0.42%             | 2026-05-21      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-25

**Name of Applicant:** First Trust Exchange-Traded Fund III

**Signature:** Derek Maltbie

**Name of Signer:** Derek Maltbie

**Title:** Treasurer, Chief Financial Officer and Chief Accounting Officer