# EDGAR Filing Document

**Accession Number:** 0000701817
**File Stem:** 0001752724-23-017374
**Filing Date:** 2023-1
**Character Count:** 926331
**Document Hash:** cf89d14d988952be8a3b5a281c5754fd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-017374.hdr.sgml**: 20230130

**ACCESSION NUMBER**: 0001752724-23-017374

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230130

**DATE AS OF CHANGE**: 20230130

**PERIOD START**: 20230831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SEI TAX EXEMPT TRUST
- **CENTRAL INDEX KEY:** 0000701817
- **IRS NUMBER:** 236741646
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03447
- **FILM NUMBER:** 23565510

**BUSINESS ADDRESS:**
- **STREET 1:** SEI INVESTMENTS
- **STREET 2:** 1 FREEDOM VALLEY CIRCLE
- **CITY:** OAK
- **STATE:** PA
- **ZIP:** 19456
- **BUSINESS PHONE:** 610 676-3097

**MAIL ADDRESS:**
- **STREET 1:** SEI INVESTMENTS
- **STREET 2:** 1 FREEDOM VALLEY CIRCLE
- **CITY:** OAK
- **STATE:** PA
- **ZIP:** 19456

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TRUSTFUNDS TAX EXEMPT TRUST
- **DATE OF NAME CHANGE:** 19890123

## Series and Classes Contracts Data

### STET INTERMEDIATE TERM MUNICIPAL FUND (Series ID: S000006439)

| Class ID   | Class Name                                                                              | Ticker Symbol   |
|:---|:---|:---|
| C000017636 | STET INTERMEDIATE TERM MUNICIPAL FUND - CLASS F, effective 1-31-2017 (formerly Class A) | SEIMX           |
| C000147417 | STET INTERMEDIATE-TERM MUNICIPAL FUND - CLASS Y                                         | SINYX           |

## Nport-Ex

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Intermediate-Term Municipal Fund** 

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS — 98.9%** | **MUNICIPAL BONDS — 98.9%** | **MUNICIPAL BONDS — 98.9%** |
| **Alabama — 2.3%** | **Alabama — 2.3%** |  |
| &nbsp;&nbsp;&nbsp;Alabama State, Port Authority, Ser A, AMT, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2026  | $1000 | $1057 |
| &nbsp;&nbsp;&nbsp;Birmingham, Airport Authority, RB, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2023  | 225 | 228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2024  | 325 | 336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2028  | 1075 | 1171 |
| &nbsp;&nbsp;&nbsp;Black Belt, Energy Gas District, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 06/01/2051 (A) | 5570 | 5467 |
| &nbsp;&nbsp;&nbsp;Black Belt, Energy Gas District, Ser A-1, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2049 (A) | 5000 | 4980 |
| &nbsp;&nbsp;&nbsp;Jefferson County, Refunding Warrants, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2025  | 2500 | 2621 |
| &nbsp;&nbsp;&nbsp;Lower Alabama, Gas District, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2050 (A) | 5000 | 4983 |
| &nbsp;&nbsp;&nbsp;Lower Alabama, Gas District, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2028  | 3300 | 3453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2031  | 3140 | 3314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2034  | 2000 | 2098 |
| &nbsp;&nbsp;&nbsp;Southeast Alabama, Gas Supply District, Project #1, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 04/01/2049 (A) | 5000 | 4994 |
| &nbsp;&nbsp;&nbsp;Southeast Energy Authority, Cooperative District, Ser A-1, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 01/01/2053 (A) | 4920 | 5229 |
| &nbsp;&nbsp;&nbsp;Troy University, Ser A, RB, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2027  | 645 | 707 |
|  |  | 40638 |
| **Alaska — 0.1%** | **Alaska — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;Anchorage, Water Revenue, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2031  | 1500 | 1625 |
| &nbsp;&nbsp;&nbsp;Northern Alaska, Tobacco Securitization, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 06/01/2036  | 615 | 587 |
|  |  | 2212 |
| **Arizona — 2.4%** | **Arizona — 2.4%** |  |
| &nbsp;&nbsp;&nbsp;Arizona State, Industrial Development Authority, American Charter Schools Foundation Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 07/01/2037 (B) | 1805 | 1854 |
| &nbsp;&nbsp;&nbsp;Arizona State, Industrial Development Authority, Equitable School Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 11/01/2036  | 4570 | 4443 |
| &nbsp;&nbsp;&nbsp;Arizona State, Industrial Development Authority, Legacy Cares Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.750%, 07/01/2050 (B) | 3560 | 2492 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Arizona State, Industrial Development Authority, Ser 2019-2, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.625%, 05/20/2033  | $3310 | $3185 |
| &nbsp;&nbsp;&nbsp;Coconino County, Pollution Control, Nevada Power Company, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.650%, 03/01/2039 (A) | 2000 | 1991 |
| &nbsp;&nbsp;&nbsp;Glendale, Industrial Development Authority, Inspirata Pointe Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2041  | 500 | 470 |
| &nbsp;&nbsp;&nbsp;Glendale, Industrial Development Authority, Royal Oaks Life Care Community, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 05/15/2028  | 380 | 359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 05/15/2031  | 500 | 455 |
| &nbsp;&nbsp;&nbsp;Maricopa County, Industrial Development Authority, Banner Health Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2031  | 2250 | 2419 |
| &nbsp;&nbsp;&nbsp;Maricopa County, Industrial Development Authority, Christian Care Surprise Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.750%, 01/01/2036 (B) | 1560 | 1212 |
| &nbsp;&nbsp;&nbsp;Maricopa County, Industrial Development Authority, Commercial Metals Company Project, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/15/2047 (B) | 305 | 243 |
| &nbsp;&nbsp;&nbsp;Phoenix, Civic Improvement Authority, Junior Lien, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2033  | 2000 | 2153 |
| &nbsp;&nbsp;&nbsp;Phoenix, Civic Improvement Authority, Junior Lien, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2028  | 600 | 629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2029  | 250 | 262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2030  | 500 | 524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2032  | 1095 | 1145 |
| &nbsp;&nbsp;&nbsp;Phoenix, Civic Improvement Authority, Junior Lien, Ser B, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2030  | 3100 | 3345 |
| &nbsp;&nbsp;&nbsp;Phoenix, Industrial Development Authority, Downtown Phoenix Student Housing, ASU Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2029  | 350 | 362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2032  | 115 | 118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2033  | 355 | 362 |
| &nbsp;&nbsp;&nbsp;Phoenix, Industrial Development Authority, Mayo Clinic Project, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.370%, 11/15/2052 (A) | 700 | 700 |
| &nbsp;&nbsp;&nbsp;Salt Verde, Financial Gas Revenue Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 12/01/2024  | 1330 | 1364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 12/01/2026  | 4510 | 4697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2032  | 2500 | 2623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2037  | 1000 | 1034 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Intermediate-Term Municipal Fund** (Continued)

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Tempe, Industrial Development Authority, Friendship Village Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2027  | $| 355 | $336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2028  |  | 365 | 339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2029  |  | 385 | 352 |
| &nbsp;&nbsp;&nbsp;Tempe, Industrial Development Authority, Mirabella at ASU Project, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 10/01/2037 (B) |  | 1200 | 1094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 10/01/2027 (B) |  | 900 | 865 |
| &nbsp;&nbsp;&nbsp;Yavapai County, Industrial Development Authority, Yavapai Regional Medical Center Project, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 08/01/2033  |  | 1000 | 1012 |
|  |  |  | 42439 |
| **Arkansas — 0.2%** | **Arkansas — 0.2%** | **Arkansas — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;Arkansas State, University of Central Arkansas, Auxiliary Project, Ser C, RB, AMBAC  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.125%, 04/01/2026  |  | 1265 | 1332 |
| &nbsp;&nbsp;&nbsp;Arkansas State, University of Central Arkansas, Student Fee Project, Ser B, RB, AMBAC  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.125%, 04/01/2026  |  | 1265 | 1332 |
| &nbsp;&nbsp;&nbsp;Fort Smith, Water & Sewer Revenue, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2035  |  | 1500 | 1612 |
|  |  |  | 4276 |
| **California — 6.2%** | **California — 6.2%** | **California — 6.2%** |  |
| &nbsp;&nbsp;&nbsp;Bay Area, Toll Authority, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.150%, 04/01/2056 (A) |  | 1115 | 1087 |
| &nbsp;&nbsp;&nbsp;California County, Tobacco Securitization Agency, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2025  |  | 200 | 208 |
| &nbsp;&nbsp;&nbsp;California State, Community Choice Financing Authority, Clean Energy Project, Ser A-1, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 05/01/2053 (A) |  | 2000 | 1999 |
| &nbsp;&nbsp;&nbsp;California State, Community Choice Financing Authority, Clean Energy Project, Ser B-1, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 02/01/2052 (A) |  | 6520 | 6433 |
| &nbsp;&nbsp;&nbsp;California State, Department of Water Resources, Ser AS, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 100  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2024 (C) |  | 1910 | 2008 |
| &nbsp;&nbsp;&nbsp;California State, Enterprise Development Authority, M@College Project, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2045  |  | 370 | 370 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;California State, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 09/01/2047  | $500 | $567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2026  | 6380 | 6873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2028  | 3000 | 3261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2029  | 1500 | 1629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2030  | 3395 | 3684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2034  | 3650 | 4291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2035  | 850 | 944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2042  | 1500 | 1693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 11/01/2041  | 360 | 363 |
| &nbsp;&nbsp;&nbsp;California State, Health Facilities Financing Authority, Cedars-Sinai Health System, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/15/2040  | 620 | 621 |
| &nbsp;&nbsp;&nbsp;California State, Health Facilities Financing Authority, Kaiser Permanente Project, Ser A1, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2027  | 3225 | 3584 |
| &nbsp;&nbsp;&nbsp;California State, Housing Finance Agency, Certificates, Ser 2021-1, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 11/20/2035  | 2927 | 2640 |
| &nbsp;&nbsp;&nbsp;California State, Municipal Finance Authority, Caritas Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/15/2037  | 1055 | 1024 |
| &nbsp;&nbsp;&nbsp;California State, Municipal Finance Authority, Orchard Park Student Housing Project, RB, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 05/15/2034  | 1170 | 1191 |
| &nbsp;&nbsp;&nbsp;California State, Public Finance Authority, Enso Village Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.375%, 11/15/2028 (B) | 355 | 327 |
| &nbsp;&nbsp;&nbsp;California State, Public Finance Authority, Hoag Memorial Hospital Presbyterian, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/15/2036  | 370 | 376 |
| &nbsp;&nbsp;&nbsp;California State, Public Works Board, Judicial Council Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2026  | 1000 | 1006 |
| &nbsp;&nbsp;&nbsp;California State, Ser C, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2030  | 5015 | 5332 |
| &nbsp;&nbsp;&nbsp;California State, Statewide Communities Development Authority, Baptist University Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.125%, 11/01/2023 (B) | 120 | 121 |
| &nbsp;&nbsp;&nbsp;California State, Various Purpose, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2033  | 7900 | 8942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2035  | 3000 | 3211 |
| &nbsp;&nbsp;&nbsp;Cathedral, Redevelopment Agency, Successor Agency, Sub-Ser, TA  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/2023  | 215 | 216 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Intermediate-Term Municipal Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Cathedral, Redevelopment Agency, Successor Agency, TA, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/2033  | $750 | $778 |
| &nbsp;&nbsp;&nbsp;Foothill-Eastern, Transportation Corridor Agency, Ser C, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/15/2030  | 190 | 203 |
| &nbsp;&nbsp;&nbsp;Golden State, Tobacco Securitization Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 100  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2025 (C) | 3000 | 3185 |
| &nbsp;&nbsp;&nbsp;Golden State, Tobacco Securitization Project, Ser A1, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2026 (D) | 1450 | 1567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2027 (D) | 2875 | 3166 |
| &nbsp;&nbsp;&nbsp;Golden State, Tobacco Securitization Project, Ser A1, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 100  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2028 (C) | 4960 | 5582 |
| &nbsp;&nbsp;&nbsp;Golden State, Tobacco Securitization Project, Sub-Ser B-2, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 06/01/2066 (E) | 6375 | 683 |
| &nbsp;&nbsp;&nbsp;Inland Empire, Tobacco Securitization, Ser E, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 06/01/2057 (B)(E) | 77400 | 4226 |
| &nbsp;&nbsp;&nbsp;Los Angeles, Department of Airports, Los Angeles International Airport Project, Sub-Ser S, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2033  | 535 | 584 |
| &nbsp;&nbsp;&nbsp;Los Angeles, Department of Airports, Los Angeles International Airport Project, Sub-Ser, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2028  | 1500 | 1620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 05/15/2037  | 500 | 484 |
| &nbsp;&nbsp;&nbsp;Los Angeles, Department of Water & Power, Power System Project, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2032  | 2500 | 2562 |
| &nbsp;&nbsp;&nbsp;Los Angeles, Department of Water & Power, Water System Revenue, Ser A-2, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.850%, 07/01/2045 (A) | 650 | 650 |
| &nbsp;&nbsp;&nbsp;Northern California, Tobacco Securitization Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 06/01/2049  | 1615 | 1603 |
| &nbsp;&nbsp;&nbsp;Riverside County, Transportation Commission, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 06/01/2038  | 1000 | 970 |
| &nbsp;&nbsp;&nbsp;Sacramento, Airport System Revenue, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2033  | 500 | 547 |
| &nbsp;&nbsp;&nbsp;Sacramento, Airport System Revenue, Sub-Ser E, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2033  | 1000 | 1095 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;San Diego County, Regional Airport Authority, Sub-Ser B, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2024  | $| 350 | $359 |
| &nbsp;&nbsp;&nbsp;San Diego, Association of Governments, Mid-Coast Corridor Transit Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2025  |  | 3000 | 3135 |
| &nbsp;&nbsp;&nbsp;San Joaquin Hills, Transportation Corridor Agency, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/15/2033  |  | 815 | 893 |
| &nbsp;&nbsp;&nbsp;San Joaquin Hills, Transportation Corridor Agency, Ser Senior Lien A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 100  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/15/2025 (C) |  | 1165 | 1226 |
| &nbsp;&nbsp;&nbsp;Southern California, Water District, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 100  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2025 (C) |  | 4000 | 4245 |
| &nbsp;&nbsp;&nbsp;Stockton, Successor Agency to the Redevelopment Agency, Ser A, TA, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2030  |  | 1750 | 1875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2031  |  | 1815 | 1946 |
| &nbsp;&nbsp;&nbsp;University of California, Regents Medical Center Pooled Revenue, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2034  |  | 725 | 833 |
|  |  |  | 108018 |
| **Colorado — 3.3%** | **Colorado — 3.3%** | **Colorado — 3.3%** |  |
| &nbsp;&nbsp;&nbsp;Colorado State, Department of Transportation, COP  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2030  |  | 350 | 373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2031  |  | 500 | 532 |
| &nbsp;&nbsp;&nbsp;Colorado State, Health Facilities Authority, Commonspirit Health Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 11/01/2036  |  | 1135 | 1230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2033  |  | 875 | 948 |
| &nbsp;&nbsp;&nbsp;Colorado State, Health Facilities Authority, Commonspirit Health Project, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2034  |  | 1500 | 1578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2037  |  | 1000 | 1038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/2038  |  | 500 | 462 |
| &nbsp;&nbsp;&nbsp;Colorado State, Health Facilities Authority, Commonspirit Health Project, Ser A-, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/2039  |  | 2550 | 2325 |
| &nbsp;&nbsp;&nbsp;Colorado State, Health Facilities Authority, Covenant Living Communities Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2040  |  | 205 | 178 |
| &nbsp;&nbsp;&nbsp;Colorado State, Health Facilities Authority, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2049 (A) |  | 2265 | 2421 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Intermediate-Term Municipal Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Colorado State, Health Facilities Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 100  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/19/2026 (A)(C) | $235 | $253 |
| &nbsp;&nbsp;&nbsp;Colorado State, Health Facilities Authority, SCL Health System Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2030  | 2500 | 2828 |
| &nbsp;&nbsp;&nbsp;Colorado State, Health Facilities Authority, Sunbelt Obligated Group Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2036 (A) | 6425 | 6868 |
| &nbsp;&nbsp;&nbsp;Colorado State, Housing & Finance Authority, Ser K, RB, GNMA  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875%, 05/01/2050  | 920 | 917 |
| &nbsp;&nbsp;&nbsp;Denver City & County, Airport System Revenue Authority, Ser A, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2030  | 1250 | 1330 |
| &nbsp;&nbsp;&nbsp;Denver City & County, Airport System Revenue Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2031  | 1000 | 1077 |
| &nbsp;&nbsp;&nbsp;Denver City & County, Airport System Revenue Authority, Ser D, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 11/15/2032  | 280 | 321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 11/15/2033  | 1030 | 1173 |
| &nbsp;&nbsp;&nbsp;Denver City & County, Airport System Revenue Authority, Sub-Ser A, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 11/15/2027  | 10000 | 10189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2031  | 2000 | 2133 |
| &nbsp;&nbsp;&nbsp;Denver City & County, Airport System Revenue Authority, Sub-Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 11/15/2026  | 2000 | 2045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 11/15/2032  | 1010 | 1031 |
| &nbsp;&nbsp;&nbsp;Denver City & County, Board of Water Commissioners, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/15/2033  | 2000 | 2346 |
| &nbsp;&nbsp;&nbsp;Denver City & County, Convention Center Expansion Project, Ser 2018-A, COP  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2030  | 1465 | 1564 |
| &nbsp;&nbsp;&nbsp;Denver City & County, Convention Center Expansion Project, Ser A, COP  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2032  | 1360 | 1448 |
| &nbsp;&nbsp;&nbsp;Denver, Convention Center Hotel Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2029  | 400 | 410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2031  | 855 | 870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2032  | 1200 | 1219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2034  | 1000 | 1008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2035  | 800 | 805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2036  | 600 | 603 |
| &nbsp;&nbsp;&nbsp;E-470, Public Highway Authority, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.903%, 09/01/2039 (A) | 610 | 604 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Park Creek, Metropolitan District, Ser A, RB, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2032  | $| 1000 | $1050 |
| &nbsp;&nbsp;&nbsp;Regional Transportation District, Eagle P3 Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/15/2029  |  | 600 | 636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/15/2031  |  | 1115 | 1197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/15/2031  |  | 2060 | 2209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/15/2032  |  | 160 | 171 |
| &nbsp;&nbsp;&nbsp;University of Colorado, Enterprise Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 06/01/2051 (A) |  | 270 | 262 |
| &nbsp;&nbsp;&nbsp;Vauxmont Metropolitan District, Sub-Ser, GO, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/15/2026  |  | 220 | 236 |
|  |  |  | 57888 |
| **Connecticut — 2.1%** | **Connecticut — 2.1%** | **Connecticut — 2.1%** |  |
| &nbsp;&nbsp;&nbsp;Connecticut State, Health & Educational Facilities Authority, Covenant Home Project, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2036  |  | 1230 | 1258 |
| &nbsp;&nbsp;&nbsp;Connecticut State, Health & Educational Facilities Authority, Sacred Heart University Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2029  |  | 840 | 927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2030  |  | 230 | 254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2034  |  | 900 | 952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2036  |  | 700 | 733 |
| &nbsp;&nbsp;&nbsp;Connecticut State, Health & Educational Facilities Authority, University of Hartford Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2026  |  | 255 | 260 |
| &nbsp;&nbsp;&nbsp;Connecticut State, Health & Educational Facilities Authority, Univesrity of Hartford Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2025  |  | 390 | 396 |
| &nbsp;&nbsp;&nbsp;Connecticut State, Health & Educational Facilities Authority, Yale University, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.100%, 07/01/2049 (A) |  | 1420 | 1341 |
| &nbsp;&nbsp;&nbsp;Connecticut State, Ser A, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/15/2025  |  | 2000 | 2040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 01/15/2036  |  | 1105 | 1136 |
| &nbsp;&nbsp;&nbsp;Connecticut State, Ser C, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2026  |  | 2460 | 2649 |
| &nbsp;&nbsp;&nbsp;Connecticut State, Ser E, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/15/2029  |  | 5000 | 5573 |
| &nbsp;&nbsp;&nbsp;Connecticut State, Special Tax Obligation, Transportation Infrastructure, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2031  |  | 1000 | 1144 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Intermediate-Term Municipal Fund** (Continued)

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Connecticut State, Special Tax Obligation, Transportation Infrastructure, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2034  | $| 2500 | $2581 |
| &nbsp;&nbsp;&nbsp;Connecticut State, Special Tax Obligation, Transportation Infrastructure, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2030  |  | 2000 | 2234 |
| &nbsp;&nbsp;&nbsp;Connecticut State, Special Tax Revenue State, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 05/01/2036  |  | 1300 | 1332 |
| &nbsp;&nbsp;&nbsp;University of Connecticut, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2037  |  | 5500 | 6137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2038  |  | 4740 | 5270 |
|  |  |  | 36217 |
| **District of Columbia — 1.2%** | **District of Columbia — 1.2%** | **District of Columbia — 1.2%** |  |
| &nbsp;&nbsp;&nbsp;District of Columbia, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2041  |  | 4000 | 4473 |
| &nbsp;&nbsp;&nbsp;District of Columbia, Ser D, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2033  |  | 2500 | 2698 |
| &nbsp;&nbsp;&nbsp;Metropolitan Washington, Airports Authority, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2028  |  | 2000 | 2129 |
| &nbsp;&nbsp;&nbsp;Metropolitan Washington, Airports Authority, Ser A, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2027  |  | 7205 | 7546 |
| &nbsp;&nbsp;&nbsp;Metropolitan Washington, Airports Authority, Sub-Ser, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/01/2035  |  | 1000 | 967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/01/2038  |  | 1000 | 945 |
| &nbsp;&nbsp;&nbsp;Washington Metropolitan, Transit Authority, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/15/2039  |  | 3000 | 3029 |
|  |  |  | 21787 |
| **Florida — 6.8%** | **Florida — 6.8%** | **Florida — 6.8%** |  |
| &nbsp;&nbsp;&nbsp;Alachua County, Celebration Pointe, Community Development District No. 1, SAB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 05/01/2024  |  | 135 | 136 |
| &nbsp;&nbsp;&nbsp;Alachua County, Health Facilities Authority, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2030  |  | 1500 | 1620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2037 (A) |  | 4000 | 4235 |
| &nbsp;&nbsp;&nbsp;Broward County, Airport System Revenue, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2034  |  | 1300 | 1356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2035  |  | 2000 | 2079 |
| &nbsp;&nbsp;&nbsp;Broward County, Airport System Revenue, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2027  |  | 2885 | 3164 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Broward County, Airport System Revenue, Ser B, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2029  | $1000 | $1086 |
| &nbsp;&nbsp;&nbsp;Broward County, Port Facilities Revenue, Ser C, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2028  | 1000 | 1116 |
| &nbsp;&nbsp;&nbsp;Broward County, Shool District, Ser A, COP  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2028  | 5000 | 5542 |
| &nbsp;&nbsp;&nbsp;Capital Projects Finance Authority, Florida University Project, Ser A-1, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2027  | 365 | 373 |
| &nbsp;&nbsp;&nbsp;Central Florida, Expressway Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2029  | 1250 | 1356 |
| &nbsp;&nbsp;&nbsp;Central Florida, Expressway Authority, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2027  | 2900 | 3169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/2034  | 770 | 794 |
| &nbsp;&nbsp;&nbsp;Central Florida, Expressway Authority, Ser D, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2035  | 1500 | 1682 |
| &nbsp;&nbsp;&nbsp;Escambia County, Health Facilities Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/15/2045  | 640 | 558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/15/2050  | 1900 | 1612 |
| &nbsp;&nbsp;&nbsp;Florida State, Capital Trust Agency, University Bridge, Student Housing Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 12/01/2043 (B) | 3000 | 2791 |
| &nbsp;&nbsp;&nbsp;Florida State, Citizens Property Insurance, Coastal Account, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2025  | 15000 | 15593 |
| &nbsp;&nbsp;&nbsp;Florida State, Development Finance, Brightline Passenger Rail Project, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.375%, 01/01/2049 (B) | 2465 | 2191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.250%, 07/01/2057 (A)(B) | 3100 | 3080 |
| &nbsp;&nbsp;&nbsp;Florida State, Development Finance, Nova Southern University Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2026  | 285 | 299 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2027  | 325 | 346 |
| &nbsp;&nbsp;&nbsp;Florida State, Development Finance, Surface Transportation Facility, Virgin Trains USA Passenger Rail Project, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 01/01/2049 (A)(B) | 1000 | 899 |
| &nbsp;&nbsp;&nbsp;Florida State, Higher Educational Facilities Financial Authority, Ringling College Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2037  | 1295 | 1309 |
| &nbsp;&nbsp;&nbsp;Florida State, Municipal Power Agency, All Requirements Power Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2028  | 1000 | 1057 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Intermediate-Term Municipal Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Florida State, Municipal Power Agency, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2024  | $1480 | $1539 |
| &nbsp;&nbsp;&nbsp;Florida State, Sunshine Skyway Bridge, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/2033  | 2930 | 3031 |
| &nbsp;&nbsp;&nbsp;Florida State, Village Community Development District No. 13, SAB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 05/01/2029  | 965 | 842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.800%, 05/01/2026  | 530 | 479 |
| &nbsp;&nbsp;&nbsp;Greater Orlando, Aviation Authority, Ser A, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2030  | 1500 | 1627 |
| &nbsp;&nbsp;&nbsp;Hillsborough County, Solid Waste & Resource Recovery Revenue, Ser A, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2031  | 3695 | 3886 |
| &nbsp;&nbsp;&nbsp;JEA Electric System Revenue, Ser Three, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2035  | 3000 | 3277 |
| &nbsp;&nbsp;&nbsp;JEA Electric System Revenue, Sub-Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ –  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 0 (C) | 970 | 988 |
| &nbsp;&nbsp;&nbsp;JEA Water & Sewer System Revenue, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2035  | 1000 | 1112 |
| &nbsp;&nbsp;&nbsp;Lee County, Solid Waste System Revenue, AMT, RB, NATL  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2026  | 2425 | 2530 |
| &nbsp;&nbsp;&nbsp;Leesburg, Village Community Development District No. 14, SAB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.125%, 05/01/2037  | 1225 | 1235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 05/01/2032  | 200 | 200 |
| &nbsp;&nbsp;&nbsp;Miami Beach, Redevelopment Agency, TA  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2030  | 2500 | 2554 |
| &nbsp;&nbsp;&nbsp;Miami-Dade County, Aviation Revenue, Ser A, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2033  | 2000 | 2029 |
| &nbsp;&nbsp;&nbsp;Miami-Dade County, Educational Facilities Authority, University of Miami Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2030  | 430 | 446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2031  | 910 | 943 |
| &nbsp;&nbsp;&nbsp;Miami-Dade County, School Board Foundation, Ser B, COP  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2026  | 6985 | 7303 |
| &nbsp;&nbsp;&nbsp;Miami-Dade County, Water & Sewer System Revenue, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/01/2034  | 1750 | 1812 |
| &nbsp;&nbsp;&nbsp;Orange County, Convention Center, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2024  | 310 | 322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2026  | 755 | 799 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Orange County, Tourist Development Tax Revenue, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2032  | $| 3270 | $3470 |
| &nbsp;&nbsp;&nbsp;Orlando, Utilities Commission, Ser ES, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2036  |  | 3500 | 3789 |
| &nbsp;&nbsp;&nbsp;Osceola County, Transportation Revenue, Ser A-2, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 10/01/2025 (E) |  | 125 | 110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 10/01/2026 (E) |  | 275 | 229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 10/01/2027 (E) |  | 360 | 285 |
| &nbsp;&nbsp;&nbsp;Palm Beach County, Health Facilities Authority, Retirement Life Community Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2032  |  | 5850 | 5889 |
| &nbsp;&nbsp;&nbsp;Pompano Beach, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.450%, 01/01/2027  |  | 450 | 394 |
| &nbsp;&nbsp;&nbsp;Port Saint Lucie, Utility System Revenue, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2029  |  | 1500 | 1609 |
| &nbsp;&nbsp;&nbsp;Saint Johns County, Industrial Development Authority, Vicars Landing Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/15/2046  |  | 305 | 226 |
| &nbsp;&nbsp;&nbsp;Seminole County, Industrial Development Authority, Legacy Pointe at UCF Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 11/15/2039  |  | 3660 | 3084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.750%, 11/15/2025  |  | 835 | 781 |
| &nbsp;&nbsp;&nbsp;South Miami, Health Facilities Authority, Baptist Health South Florida, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2031  |  | 3000 | 3210 |
| &nbsp;&nbsp;&nbsp;Tampa, Cigarette Tax Allocation, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 09/01/2036 (E) |  | 305 | 166 |
| &nbsp;&nbsp;&nbsp;Volusia County, Educational Facility Authority, Embry-Riddle Aeronautical University Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/15/2026  |  | 755 | 798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/15/2035  |  | 270 | 268 |
| &nbsp;&nbsp;&nbsp;Wildwood, Utility Dependent District, South Sumter Utility Project, RB, BAM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2035  |  | 550 | 620 |
|  |  |  | 119325 |
| **Georgia — 3.0%** | **Georgia — 3.0%** | **Georgia — 3.0%** |  |
| &nbsp;&nbsp;&nbsp;Appling County, Development Authority, Oglethorpe Power Corp. Hatch Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.500%, 01/01/2038 (A) |  | 300 | 282 |
| &nbsp;&nbsp;&nbsp;Atlanta, Department of Aviation, Ser B, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2035  |  | 1500 | 1616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2036  |  | 1000 | 1072 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Intermediate-Term Municipal Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Atlanta, Water & Wastewater Revenue Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 100  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2025 (C) | $5010 | $5288 |
| &nbsp;&nbsp;&nbsp;Burke County, Development Authority, Oglethorpe Power Corp Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.500%, 01/01/2040 (A) | 785 | 737 |
| &nbsp;&nbsp;&nbsp;Clarke County, Hospital Authority, Piedmont Healthcare, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2024  | 1075 | 1108 |
| &nbsp;&nbsp;&nbsp;Fulton County, Development Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2033  | 1000 | 1045 |
| &nbsp;&nbsp;&nbsp;Gainesville & Hall County, Hospital Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 02/15/2051  | 1200 | 826 |
| &nbsp;&nbsp;&nbsp;George L Smith II, Georgia World Congress Center Authority, Convention Center Hotel, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2036 (B) | 710 | 663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 01/01/2054  | 1500 | 1215 |
| &nbsp;&nbsp;&nbsp;Georgia State, Main Street Natural Gas, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2023  | 375 | 375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/2052 (A) | 2910 | 2915 |
| &nbsp;&nbsp;&nbsp;Georgia State, Main Street Natural Gas, Ser A1, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 09/15/2028  | 1915 | 2067 |
| &nbsp;&nbsp;&nbsp;Georgia State, Main Street Natural Gas, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/2049 (A) | 3000 | 3019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.510%, 04/01/2048 (A) | 1865 | 1855 |
| &nbsp;&nbsp;&nbsp;Georgia State, Main Street Natural Gas, Ser C, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 03/01/2050 (A) | 6640 | 6559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 05/01/2052 (A) | 2000 | 1955 |
| &nbsp;&nbsp;&nbsp;Georgia State, Main Street Natural Gas, Sub-Ser C, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/2048 (A) | 1000 | 1004 |
| &nbsp;&nbsp;&nbsp;Georgia State, Municipal Electric Authority, Combined Cycle Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2027  | 710 | 767 |
| &nbsp;&nbsp;&nbsp;Georgia State, Municipal Electric Authority, Plant Vogtle Units 3 & 4 Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2032  | 1025 | 1110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2035  | 1500 | 1587 |
| &nbsp;&nbsp;&nbsp;Georgia State, Municipal Electric Authority, Plant Vogtle Units 3 & 4 Project, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 01/01/2038  | 585 | 584 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 01/01/2041  | 650 | 631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 01/01/2046  | 500 | 464 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Georgia State, Municipal Electric Authority, Project One, Sub-Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2028  | $| 4140 | $4380 |
| &nbsp;&nbsp;&nbsp;Georgia State, Municipal Electric Authority, Sub-Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2024  |  | 555 | 566 |
| &nbsp;&nbsp;&nbsp;Georgia State, Ser A1, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2024  |  | 5000 | 5143 |
| &nbsp;&nbsp;&nbsp;Henry County, Hospital Authority, Piedmont Fayette Hospital Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2026  |  | 1650 | 1699 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2027  |  | 1390 | 1430 |
| &nbsp;&nbsp;&nbsp;Monroe County, Development Authority, Georgie Power Company Project, Plant Scherer, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.000%, 07/01/2049 (A) |  | 730 | 640 |
|  |  |  | 52602 |
| **Guam — 0.3%** | **Guam — 0.3%** | **Guam — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;Guam, Power Authority, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2032  |  | 2000 | 2131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2033  |  | 2205 | 2331 |
|  |  |  | 4462 |
| **Hawaii — 0.3%** | **Hawaii — 0.3%** | **Hawaii — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;Hawaii State, Airports System Revenue, Ser A, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2032  |  | 3000 | 3183 |
| &nbsp;&nbsp;&nbsp;Hawaii State, Ser FW, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 01/01/2037  |  | 2000 | 2045 |
|  |  |  | 5228 |
| **Idaho — 0.3%** | **Idaho — 0.3%** | **Idaho — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;Idaho State, Building Authority, Lewis-Clark State College Project, Ser F, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2023 (D) |  | 220 | 224 |
| &nbsp;&nbsp;&nbsp;Idaho State, Health Facilities Authority, St. Luke's Health System Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2030  |  | 500 | 557 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2031  |  | 320 | 360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2032  |  | 500 | 566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 03/01/2033  |  | 575 | 581 |
| &nbsp;&nbsp;&nbsp;Idaho State, Housing & Finance Association, Anser of Idaho Inc Project, Ser OF, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 05/01/2041  |  | 1500 | 1177 |
| &nbsp;&nbsp;&nbsp;Idaho State, Housing & Finance Association, Garvee, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/15/2029  |  | 835 | 937 |
|  |  |  | 4402 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Intermediate-Term Municipal Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| **Illinois — 10.5%** | **Illinois — 10.5%** |  |
| &nbsp;&nbsp;&nbsp;Champaign County, Community Unit School District No. 4 Champaign, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 01/01/2025 (E) | $325 | $303 |
| &nbsp;&nbsp;&nbsp;Chicago, Airport Authority, O'Hare International Airport, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2036  | 1040 | 1102 |
| &nbsp;&nbsp;&nbsp;Chicago, Airport Authority, O'Hare International Airport, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2038  | 1890 | 2042 |
| &nbsp;&nbsp;&nbsp;Chicago, Airport Authority, O'Hare International Airport, Ser A, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2029  | 5000 | 5115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2036  | 1290 | 1345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2038  | 1500 | 1517 |
| &nbsp;&nbsp;&nbsp;Chicago, Airport Authority, O'Hare International Airport, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2030  | 4000 | 4152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2032  | 5840 | 6031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2035  | 3500 | 3629 |
| &nbsp;&nbsp;&nbsp;Chicago, Airport Authority, O'Hare International Airport, Ser C, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2031  | 2450 | 2577 |
| &nbsp;&nbsp;&nbsp;Chicago, Airport Authority, O'Hare International Airport, Ser E, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2032  | 510 | 562 |
| &nbsp;&nbsp;&nbsp;Chicago, Board of Education, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2033  | 500 | 510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2034  | 620 | 631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2036  | 445 | 451 |
| &nbsp;&nbsp;&nbsp;Chicago, Board of Education, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2032  | 1435 | 1436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2047  | 530 | 432 |
| &nbsp;&nbsp;&nbsp;Chicago, Board of Education, Ser B, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2027  | 650 | 658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2028  | 100 | 101 |
| &nbsp;&nbsp;&nbsp;Chicago, Board of Education, Ser D, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2031  | 2840 | 2859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2046  | 640 | 601 |
| &nbsp;&nbsp;&nbsp;Chicago, Midway International Airport, Ser A, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2028  | 2970 | 3007 |
| &nbsp;&nbsp;&nbsp;Chicago, Motor Fuel Tax Revenue, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2024 (D) | 1000 | 1024 |
| &nbsp;&nbsp;&nbsp;Chicago, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 01/01/2035  | 3020 | 3121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 01/01/2029  | 1210 | 1218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2023  | 355 | 355 |
| &nbsp;&nbsp;&nbsp;Chicago, Ser C, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2026  | 1130 | 1149 |
| &nbsp;&nbsp;&nbsp;Chicago, Transit Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2046  | 1500 | 1523 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Chicago, Transit Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2045  | $550 | $565 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2055  | 2000 | 1753 |
| &nbsp;&nbsp;&nbsp;Chicago, Waterworks Revenue, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2026  | 1820 | 1916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2027  | 2360 | 2476 |
| &nbsp;&nbsp;&nbsp;Chicago, Waterworks Revenue, Second Lien Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2029  | 1000 | 1023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2034  | 1500 | 1518 |
| &nbsp;&nbsp;&nbsp;Chicago, Waterworks Revenue, Ser 2017-2, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2035  | 5000 | 5223 |
| &nbsp;&nbsp;&nbsp;Cook County, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2029  | 500 | 556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2033  | 450 | 495 |
| &nbsp;&nbsp;&nbsp;Cook County, Ser B, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 11/15/2026  | 730 | 755 |
| &nbsp;&nbsp;&nbsp;Cook County, Tax Revenue Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2035  | 4000 | 4216 |
| &nbsp;&nbsp;&nbsp;Cook County, Tax Revenue Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2031  | 560 | 621 |
| &nbsp;&nbsp;&nbsp;Illinois State, Finance Authority, Chicago International Charter School Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2037  | 1500 | 1534 |
| &nbsp;&nbsp;&nbsp;Illinois State, Finance Authority, Health Care System Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2050 (A) | 605 | 621 |
| &nbsp;&nbsp;&nbsp;Illinois State, Finance Authority, Health Care System Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2029  | 1885 | 1959 |
| &nbsp;&nbsp;&nbsp;Illinois State, Finance Authority, Northshore - Edward-Elhmhurst Health Credit Group, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2047  | 3265 | 3448 |
| &nbsp;&nbsp;&nbsp;Illinois State, Finance Authority, Northwestern Memorial, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.300%, 07/15/2055 (A) | 900 | 900 |
| &nbsp;&nbsp;&nbsp;Illinois State, Finance Authority, Northwestern University, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2026  | 2500 | 2660 |
| &nbsp;&nbsp;&nbsp;Illinois State, Finance Authority, Presence Health Network, Ser C, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/15/2036  | 2000 | 2105 |
| &nbsp;&nbsp;&nbsp;Illinois State, Finance Authority, Rehabilitation Institute of Chicago Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 07/01/2028  | 1000 | 1015 |
| &nbsp;&nbsp;&nbsp;Illinois State, Finance Authority, University Medical Center Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2033  | 1050 | 1078 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Intermediate-Term Municipal Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Illinois State, Finance Authority, University Medical Center Project, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2034  | $2000 | $2045 |
| &nbsp;&nbsp;&nbsp;Illinois State, Finance Authority, University of Illinois Chicago Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/15/2026  | 500 | 500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/15/2027  | 200 | 199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/15/2029  | 400 | 395 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/15/2031  | 365 | 358 |
| &nbsp;&nbsp;&nbsp;Illinois State, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 05/01/2030  | 3750 | 4092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.375%, 05/01/2023  | 165 | 166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 02/01/2030  | 3350 | 3395 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 02/01/2032  | 935 | 947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2036  | 2970 | 3021 |
| &nbsp;&nbsp;&nbsp;Illinois State, Housing Development Authority, Homeowner Mortgage, Ser C, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 08/01/2046  | 1025 | 1016 |
| &nbsp;&nbsp;&nbsp;Illinois State, Municipal Electric Agency, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2032  | 5000 | 5252 |
| &nbsp;&nbsp;&nbsp;Illinois State, Rebuild Illinois Program, Ser B, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 11/01/2035  | 2800 | 2635 |
| &nbsp;&nbsp;&nbsp;Illinois State, Regional Transportation Authority, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 06/01/2025  | 3000 | 3136 |
| &nbsp;&nbsp;&nbsp;Illinois State, Regional Transportation Authority, RB, NATL  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 07/01/2030  | 1500 | 1760 |
| &nbsp;&nbsp;&nbsp;Illinois State, Regional Transportation Authority, Ser A, RB, NATL  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 07/01/2031  | 1000 | 1163 |
| &nbsp;&nbsp;&nbsp;Illinois State, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 03/01/2042  | 670 | 706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2029  | 895 | 942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2030  | 2000 | 2118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2034  | 780 | 801 |
| &nbsp;&nbsp;&nbsp;Illinois State, Ser A, RB, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2028  | 4600 | 5014 |
| &nbsp;&nbsp;&nbsp;Illinois State, Ser B, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2031  | 2000 | 2126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2031  | 810 | 858 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/01/2035  | 4020 | 3784 |
| &nbsp;&nbsp;&nbsp;Illinois State, Ser C, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/01/2037  | 215 | 199 |
| &nbsp;&nbsp;&nbsp;Illinois State, Ser D, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2023  | 1000 | 1014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2025  | 1585 | 1636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2028  | 1000 | 1043 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Illinois State, Sports Facilities Authority, RB, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2029  | $1500 | $1581 |
| &nbsp;&nbsp;&nbsp;Illinois State, Toll Highway Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2029  | 1315 | 1472 |
| &nbsp;&nbsp;&nbsp;Illinois State, Toll Highway Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2032  | 2000 | 2111 |
| &nbsp;&nbsp;&nbsp;Illinois State, Toll Highway Authority, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2032  | 1250 | 1276 |
| &nbsp;&nbsp;&nbsp;Kane County, School District No. 131 Aurora East Side, Ser B, GO, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2026  | 815 | 877 |
| &nbsp;&nbsp;&nbsp;Kendall Kane & Will Counties, School District No. 308, Ser A, GO, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2025  | 235 | 246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2027  | 1055 | 1136 |
| &nbsp;&nbsp;&nbsp;Metropolitan Chicago, Water Reclamation District, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2031  | 3275 | 3500 |
| &nbsp;&nbsp;&nbsp;Metropolitan Chicago, Water Reclamation District, Ser C, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2024  | 640 | 668 |
| &nbsp;&nbsp;&nbsp;Metropolitan Chicago, Water Reclamation District, Ser D, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2031  | 1500 | 1741 |
| &nbsp;&nbsp;&nbsp;Metropolitan Pier & Exposition Authority, McCormick Place Expansion Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/15/2031  | 250 | 257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/15/2032  | 255 | 262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/15/2033  | 300 | 307 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/15/2034  | 400 | 409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/15/2042  | 2910 | 2614 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/15/2047  | 4265 | 3694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 06/15/2052  | 1605 | 1358 |
| &nbsp;&nbsp;&nbsp;Railsplitter, Tobacco Settlement Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2027  | 6100 | 6482 |
| &nbsp;&nbsp;&nbsp;Sales Tax Securitization, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2026  | 360 | 379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2027  | 2000 | 2128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2028  | 380 | 409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2033  | 3000 | 3302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2034  | 3760 | 3973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2036  | 3750 | 3932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2037  | 1000 | 1043 |
| &nbsp;&nbsp;&nbsp;Sales Tax Securitization, Ser A, RB, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2037  | 200 | 212 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Intermediate-Term Municipal Fund** (Continued)

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;University of Illinois, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2028  | $| 5245 | $5307 |
|  |  |  | 184885 |
| **Indiana — 1.6%** | **Indiana — 1.6%** | **Indiana — 1.6%** |  |
| &nbsp;&nbsp;&nbsp;Indiana State, Finance Authority, Indianapolis Power & Light Company Project, Ser S, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.125%, 12/01/2024  |  | 1930 | 1926 |
| &nbsp;&nbsp;&nbsp;Indiana State, Finance Authority, Stadium Project, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 02/01/2035  |  | 2000 | 2099 |
| &nbsp;&nbsp;&nbsp;Indiana State, Finance Authority, Wastewater Utility Revenue, CWA Authority Project, Ser S, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2032  |  | 5025 | 5864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/01/2035  |  | 2725 | 2805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/01/2036  |  | 1485 | 1522 |
| &nbsp;&nbsp;&nbsp;Indiana State, Housing & Community Development Authority, Ser A, RB, GNMA/FNMA/FHLMC  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 07/01/2051  |  | 325 | 315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 07/01/2052  |  | 790 | 752 |
| &nbsp;&nbsp;&nbsp;Indiana State, Housing & Community Development Authority, Ser B-1, RB, GNMA  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.250%, 07/01/2049  |  | 425 | 418 |
| &nbsp;&nbsp;&nbsp;Indiana State, Municipal Power Agency, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2032  |  | 3250 | 3479 |
| &nbsp;&nbsp;&nbsp;Richmond, Hospital Authority, Reid Hospital Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2035  |  | 3400 | 3460 |
| &nbsp;&nbsp;&nbsp;Whiting, Industry Environmental Facilities, BP Products North America Project, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2047 (A) |  | 5000 | 5078 |
|  |  |  | 27718 |
| **Iowa — 0.3%** | **Iowa — 0.3%** | **Iowa — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;Iowa State, Finance Authority, Iowa Fertilizer Company Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2050  |  | 2515 | 2374 |
| &nbsp;&nbsp;&nbsp;Iowa State, Student Loan Liquidity, Ser B, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2022  |  | 190 | 190 |
| &nbsp;&nbsp;&nbsp;Iowa State, Tobacco Settlement Authority, Ser A-2, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 06/01/2035  |  | 1075 | 1015 |
| &nbsp;&nbsp;&nbsp;Iowa State, Tobacco Settlement Authority, Sub-Ser B-1, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 06/01/2049  |  | 610 | 606 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;PEFA, Gas Project Revenue, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2049 (A) | $| 1000 | $1024 |
|  |  |  | 5209 |
| **Kansas — 0.2%** | **Kansas — 0.2%** | **Kansas — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;Kansas State, Department of Transportation, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2033  |  | 2000 | 2105 |
| &nbsp;&nbsp;&nbsp;Wyandotte County, Kansas City Sales Tax, Vacation Village Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2027 (F) |  | 870 | 814 |
|  |  |  | 2919 |
| **Kentucky — 1.8%** | **Kentucky — 1.8%** | **Kentucky — 1.8%** |  |
| &nbsp;&nbsp;&nbsp;Kentucky State, Public Energy Authority, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 04/01/2048 (A) |  | 10280 | 10272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2050 (A) |  | 1775 | 1762 |
| &nbsp;&nbsp;&nbsp;Kentucky State, Public Energy Authority, Ser A-1, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/2052 (A) |  | 2945 | 2862 |
| &nbsp;&nbsp;&nbsp;Kentucky State, Public Energy Authority, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 01/01/2049 (A) |  | 15725 | 15681 |
| &nbsp;&nbsp;&nbsp;Louisville & Jefferson County, Metropolitan Government & Health System, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2047 (A) |  | 1175 | 1233 |
|  |  |  | 31810 |
| **Louisiana — 1.2%** | **Louisiana — 1.2%** | **Louisiana — 1.2%** |  |
| &nbsp;&nbsp;&nbsp;Louisiana State, Gasoline & Fuels Tax Revenue, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.167%, 05/01/2043 (A) |  | 395 | 383 |
| &nbsp;&nbsp;&nbsp;Louisiana State, Highway Improvement, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 100  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2024 (C) |  | 1500 | 1555 |
| &nbsp;&nbsp;&nbsp;Louisiana State, Public Facilities Authority, Lincoln Preparatory School Project, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.125%, 06/01/2037 (B) |  | 400 | 385 |
| &nbsp;&nbsp;&nbsp;Louisiana State, Public Facilities Authority, Tulane University Project, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/15/2030  |  | 3000 | 3192 |
| &nbsp;&nbsp;&nbsp;New Orleans, Aviation Board, Consolidated Rental Car Facility Project, RB, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2031  |  | 1260 | 1340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2036  |  | 1550 | 1645 |
| &nbsp;&nbsp;&nbsp;New Orleans, Aviation Board, General North Terminal Project, Ser B, AMT, RB, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2028  |  | 3000 | 3079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2032  |  | 2100 | 2148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2033  |  | 2100 | 2146 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Intermediate-Term Municipal Fund** (Continued)

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;New Orleans, Regional Transit Authority, Ser A, RB, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2027  | $| 515 | $557 |
| &nbsp;&nbsp;&nbsp;St. John the Baptist Parish, Marathon Oil Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.200%, 06/01/2037 (A) |  | 1000 | 918 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.100%, 06/01/2037 (A) |  | 2750 | 2659 |
| &nbsp;&nbsp;&nbsp;St. John the Baptist Parish, Marathon Oil Project, Sub-Ser, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.375%, 06/01/2037 (A) |  | 590 | 544 |
|  |  |  | 20551 |
| **Maine — 0.0%** | **Maine — 0.0%** | **Maine — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;Maine State, Health & Higher Educational Facilities Authority, Ser A, RB, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/2035  |  | 195 | 198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/2037  |  | 265 | 265 |
|  |  |  | 463 |
| **Maryland — 1.3%** | **Maryland — 1.3%** | **Maryland — 1.3%** |  |
| &nbsp;&nbsp;&nbsp;Maryland State, Community Development Administration, Ser C, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 03/01/2050  |  | 435 | 429 |
| &nbsp;&nbsp;&nbsp;Maryland State, Department of Transportation, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/01/2032  |  | 1500 | 1571 |
| &nbsp;&nbsp;&nbsp;Maryland State, Health & Higher Educational Facilities Authority, Adventist HealthCare, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 01/01/2036  |  | 2000 | 2097 |
| &nbsp;&nbsp;&nbsp;Maryland State, Health & Higher Educational Facilities Authority, University of Maryland Medical System, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2032  |  | 5000 | 5257 |
| &nbsp;&nbsp;&nbsp;Maryland State, Ser A, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/15/2025  |  | 5000 | 5270 |
| &nbsp;&nbsp;&nbsp;Maryland State, Transportation Authority, Baltimore/Washington International Airport, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2027  |  | 4850 | 5132 |
| &nbsp;&nbsp;&nbsp;Montgomery County, Ser A, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 100  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2024 (C) |  | 1625 | 1699 |
| &nbsp;&nbsp;&nbsp;Prince George's County, Episcopal Life Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2031  |  | 2000 | 1885 |
|  |  |  | 23340 |
| **Massachusetts — 2.4%** | **Massachusetts — 2.4%** | **Massachusetts — 2.4%** |  |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Caregroup Project, Ser H-1, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2025  |  | 1500 | 1576 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Milford Regional Medical Center Project, Ser S, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/15/2025 (B) | $120 | $123 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Northeastern University, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2028  | 300 | 333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2029  | 250 | 282 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Partners Health Care System, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.450%, 07/01/2049 (A)(B) | 550 | 544 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Provident Commonwealth Education Resources, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2027  | 2965 | 2998 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Suffolk University Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2035  | 150 | 155 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, UMass Student Housing Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2026  | 2225 | 2253 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Wellforce Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2034  | 1325 | 1373 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Wellforce Project, Ser C, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2023  | 300 | 305 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Educational Financing Authority, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2025  | 1000 | 1030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2030  | 1125 | 1216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2031  | 1500 | 1626 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Educational Financing Authority, Ser A, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2025  | 2500 | 2597 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Educational Financing Authority, Ser B, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2027  | 915 | 972 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2028  | 1750 | 1865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2029  | 1925 | 2086 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Housing Finance Agency, Ser 221, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 12/01/2050  | 355 | 343 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Port Authority, Bosfuel Project, Ser A, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2030  | 1330 | 1426 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Port Authority, Ser A, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2029  | 1855 | 1969 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Intermediate-Term Municipal Fund** (Continued)

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Port Authority, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2031  | $| 1250 | $1318 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, School Building Authority, Ser C, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2029  |  | 1370 | 1452 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Ser A, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2037  |  | 2500 | 2741 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Ser D, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 05/01/2034  |  | 6500 | 6814 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Transportation Fund Revenue, Rail Enhancement & Accelerated Program, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2037  |  | 1050 | 1078 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Transportation Trust Fund, Metropolitan Highway System Revenue, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2034  |  | 3000 | 3309 |
|  |  |  | 41784 |
| **Michigan — 2.1%** | **Michigan — 2.1%** | **Michigan — 2.1%** |  |
| &nbsp;&nbsp;&nbsp;Great Lakes, Water Authority, Water Supply System, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2035  |  | 1000 | 1119 |
| &nbsp;&nbsp;&nbsp;Great Lakes, Water Authority, Water Supply System, Ser C, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2031  |  | 3665 | 3908 |
| &nbsp;&nbsp;&nbsp;Great Lakes, Water Authority, Water Supply System, Ser D, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2036  |  | 5000 | 5244 |
| &nbsp;&nbsp;&nbsp;Imlay, Community Schools, Ser I, GO, Q-SBLF  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2029  |  | 420 | 477 |
| &nbsp;&nbsp;&nbsp;Michigan State, Finance Authority, Beaumont-Spectrum Consolidation, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/15/2033  |  | 3610 | 4138 |
| &nbsp;&nbsp;&nbsp;Michigan State, Finance Authority, Detroit Water Sewage, RB, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2030  |  | 1000 | 1031 |
| &nbsp;&nbsp;&nbsp;Michigan State, Finance Authority, Government Loan Program, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2034  |  | 2565 | 2644 |
| &nbsp;&nbsp;&nbsp;Michigan State, Finance Authority, Henry Ford Health System, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 11/15/2050  |  | 1500 | 1336 |
| &nbsp;&nbsp;&nbsp;Michigan State, Finance Authority, Hospital Sparrow Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2033  |  | 2755 | 2834 |
| &nbsp;&nbsp;&nbsp;Michigan State, Finance Authority, Hospital Trinity Health Credit, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2034  |  | 2000 | 2126 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Michigan State, Finance Authority, McLaren Health Care, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.750%, 10/15/2025  | $| 235 | $221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.400%, 10/15/2023  |  | 650 | 626 |
| &nbsp;&nbsp;&nbsp;Michigan State, Hospital Finance Authority, Ascension Health Care Project, Ser Senior CR, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2047  |  | 345 | 357 |
| &nbsp;&nbsp;&nbsp;Michigan State, Housing Development Authority, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.750%, 06/01/2050  |  | 215 | 214 |
| &nbsp;&nbsp;&nbsp;Michigan State, Strategic Fund, I-75 Improvement Project, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/31/2031  |  | 3500 | 3575 |
| &nbsp;&nbsp;&nbsp;University of Michigan, Ser D1, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.350%, 12/01/2024 (A) |  | 340 | 340 |
| &nbsp;&nbsp;&nbsp;Utica, Community Schools, GO, Q-SBLF  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2025  |  | 2500 | 2632 |
| &nbsp;&nbsp;&nbsp;Wayne County, Airport Authority, Ser D, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2030  |  | 1300 | 1368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2031  |  | 1800 | 1892 |
|  |  |  | 36082 |
| **Minnesota — 0.6%** | **Minnesota — 0.6%** | **Minnesota — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;Apple Valley, Senior Living Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 01/01/2029  |  | 1320 | 1249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 01/01/2031  |  | 1085 | 998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 01/01/2037  |  | 475 | 334 |
| &nbsp;&nbsp;&nbsp;Duluth, Independent School District No. 709, Ser A, COP  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2025  |  | 500 | 521 |
| &nbsp;&nbsp;&nbsp;Minneapolis & St. Paul, Metropolitan Airports Commission, Ser C, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2029  |  | 300 | 322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2031  |  | 300 | 322 |
| &nbsp;&nbsp;&nbsp;Minneapolis & St. Paul, Metropolitan Airports Commission, Sub-Ser B, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 01/01/2038  |  | 915 | 872 |
| &nbsp;&nbsp;&nbsp;Minneapolis, Fairview Health Services, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2035  |  | 2845 | 3000 |
| &nbsp;&nbsp;&nbsp;Minnesota State, Higher Education Facilities Authority, St. Olaf College, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 10/01/2038  |  | 250 | 211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 10/01/2041  |  | 1000 | 802 |
| &nbsp;&nbsp;&nbsp;Minnesota State, Housing Finance Agency, Ser I, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 01/01/2051  |  | 1375 | 1333 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Intermediate-Term Municipal Fund** (Continued)

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Minnesota State, Municipal Power Agency, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2025  | $| 350 | $364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2027  |  | 600 | 624 |
|  |  |  | 10952 |
| **Mississippi — 0.2%** | **Mississippi — 0.2%** | **Mississippi — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;Mississippi State, Business Finance Commission, Chevron USA Project, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.450%, 11/01/2035 (A) |  | 645 | 645 |
| &nbsp;&nbsp;&nbsp;Mississippi State, Home Corporation, Ser A, RB, GNMA/FNMA/FHLMC  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 12/01/2050  |  | 110 | 107 |
| &nbsp;&nbsp;&nbsp;Mississippi State, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/15/2023  |  | 285 | 290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/15/2029  |  | 300 | 329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/15/2030  |  | 850 | 931 |
| &nbsp;&nbsp;&nbsp;Mississippi State, Ser E, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/15/2029  |  | 1000 | 1049 |
|  |  |  | 3351 |
| **Missouri — 1.4%** | **Missouri — 1.4%** | **Missouri — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;Bi-State, Development Agency of the Missouri-Illinois Metropolitan District, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/01/2036  |  | 995 | 1012 |
| &nbsp;&nbsp;&nbsp;Kansas City, Sanitary Sewer System Revenue, Sub-Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2032  |  | 1000 | 1103 |
| &nbsp;&nbsp;&nbsp;Missouri State, Health & Educational Facilities Authority, CoxHealth, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2034  |  | 3000 | 3114 |
| &nbsp;&nbsp;&nbsp;Missouri State, Health & Educational Facilities Authority, Saint Lukes Health System, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2028  |  | 1000 | 1059 |
| &nbsp;&nbsp;&nbsp;Missouri State, Health & Educational Facilities Authority, SSM Health Care Project, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2032  |  | 720 | 815 |
| &nbsp;&nbsp;&nbsp;Missouri State, Housing Development Commission, RB, GNMA/FNMA/FHLMC  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875%, 05/01/2050  |  | 855 | 852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.250%, 05/01/2051  |  | 1300 | 1268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.250%, 11/01/2052  |  | 785 | 759 |
| &nbsp;&nbsp;&nbsp;Missouri State, Housing Development Commission, Ser A, RB, GNMA/FNMA/FHLMC  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 11/01/2050  |  | 580 | 572 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Missouri State, Joint Municipal Electric Utility Commission, Plum Point Project, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2027  | $| 1850 | $1888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2028  |  | 1400 | 1428 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2029  |  | 2000 | 2065 |
| &nbsp;&nbsp;&nbsp;Missouri State, Joint Municipal Electric Utility Commission, Prairie Project, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2026  |  | 5135 | 5366 |
| &nbsp;&nbsp;&nbsp;St Louis, Airport Revenue, St. Louis Lambert International Airport, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2032  |  | 595 | 634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2033  |  | 625 | 664 |
| &nbsp;&nbsp;&nbsp;St Louis, Industrial Development Authority, Confluence Academy Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 06/15/2042 (B) |  | 2350 | 2131 |
|  |  |  | 24730 |
| **Nebraska — 1.2%** | **Nebraska — 1.2%** | **Nebraska — 1.2%** |  |
| &nbsp;&nbsp;&nbsp;Central Plains, Energy Project, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2034  |  | 1000 | 1057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2036  |  | 2000 | 2092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2037  |  | 2860 | 2974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2042  |  | 730 | 755 |
| &nbsp;&nbsp;&nbsp;Nebraska State, Investment Finance Authority, Ser A, RB, GNMA/FNMA/FHLMC  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 03/01/2052  |  | 1110 | 1058 |
| &nbsp;&nbsp;&nbsp;Nebraska State, Investment Finance Authority, Ser C, RB, GNMA/FNMA/FHLMC  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 09/01/2050  |  | 2360 | 2275 |
| &nbsp;&nbsp;&nbsp;Nebraska State, Public Power District, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2033  |  | 1000 | 1081 |
| &nbsp;&nbsp;&nbsp;Nebraska State, Public Power District, Ser C, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2024  |  | 775 | 795 |
| &nbsp;&nbsp;&nbsp;Nebraska State, Public Power Generation Agency, Whelan Energy Center, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2030  |  | 5500 | 5691 |
| &nbsp;&nbsp;&nbsp;Omaha, Public Power District, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2041  |  | 1700 | 1898 |
| &nbsp;&nbsp;&nbsp;Washington County, Waste Water Authority, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.900%, 09/01/2030 (A) |  | 700 | 660 |
|  |  |  | 20336 |
| **Nevada — 1.3%** | **Nevada — 1.3%** | **Nevada — 1.3%** |  |
| &nbsp;&nbsp;&nbsp;Clark County, Airport Authority, Las Vegas McCarran International Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2027  |  | 1545 | 1689 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Intermediate-Term Municipal Fund** (Continued)

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Clark County, School District, Ser A, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2039  | $| 2115 | $2325 |
| &nbsp;&nbsp;&nbsp;Clark County, School District, Ser A, GO, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2026  |  | 1000 | 1075 |
| &nbsp;&nbsp;&nbsp;Clark County, School District, Ser B, GO, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2029  |  | 1000 | 1124 |
| &nbsp;&nbsp;&nbsp;Clark County, School District, Ser C, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2026  |  | 1805 | 1941 |
| &nbsp;&nbsp;&nbsp;Clark County, Ser B, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2029  |  | 5000 | 5412 |
| &nbsp;&nbsp;&nbsp;Las Vegas, Convention & Visitors Authority, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2024  |  | 200 | 206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2038  |  | 2000 | 2168 |
| &nbsp;&nbsp;&nbsp;Las Vegas, Convention & Visitors Authority, Ser C, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2030  |  | 525 | 541 |
| &nbsp;&nbsp;&nbsp;Las Vegas, Valley Water District, Ser C, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2031  |  | 3585 | 4183 |
| &nbsp;&nbsp;&nbsp;Reno, Sales Tax Revenue, First Lien, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2037  |  | 590 | 620 |
| &nbsp;&nbsp;&nbsp;Reno, Sales Tax Revenue, Second Lien, RB, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2033  |  | 400 | 432 |
| &nbsp;&nbsp;&nbsp;Sparks, Sales Tax Revenue, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 06/15/2024 (B) |  | 130 | 126 |
|  |  |  | 21842 |
| **New Hampshire — 0.1%** | **New Hampshire — 0.1%** | **New Hampshire — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;New Hampshire State, National Finance Authority, Springpoints Senior Living Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 01/01/2029  |  | 300 | 288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 01/01/2030  |  | 285 | 270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 01/01/2031  |  | 290 | 272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 01/01/2051  |  | 670 | 528 |
|  |  |  | 1358 |
| **New Jersey — 3.6%** | **New Jersey — 3.6%** | **New Jersey — 3.6%** |  |
| &nbsp;&nbsp;&nbsp;New Jersey State, COVID-19 Emergency Bonds, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2025  |  | 890 | 939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 06/01/2031  |  | 1000 | 1059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 06/01/2032  |  | 3070 | 3248 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Economic Development Authority, Bridge Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2029  |  | 285 | 314 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;New Jersey State, Economic Development Authority, Continental Airlines Project, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.625%, 11/15/2030  | $1160 | $1167 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Economic Development Authority, Provident Group Montclair Project, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2027  | 995 | 1067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2037  | 1225 | 1250 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Economic Development Authority, School Facilities Construction Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2025  | 1775 | 1783 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Economic Development Authority, School Facilities Project, Ser XX, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 06/15/2027  | 3000 | 3151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2026  | 3020 | 3157 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Educational Facilities Authority, Ser C, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/2050  | 130 | 124 |
| &nbsp;&nbsp;&nbsp;New Jersey State, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2027  | 1000 | 1054 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Health Care Facilities Financing Authority, Inspira Health Obligated Group, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2036  | 2250 | 2331 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Health Care Facilities Financing Authority, Valley Health System Obligated Group, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2033  | 2590 | 2767 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Higher Education Student Assistance Authority, Ser B, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2024  | 2400 | 2477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2028  | 1450 | 1556 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Tobacco Settlement Financing, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2035  | 10000 | 10272 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Transportation Trust Fund Authority, Federal Highway Reimbursement Notes, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2028  | 2000 | 2110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2029  | 3500 | 3688 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Transportation Trust Fund Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 06/15/2039  | 2500 | 2683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/15/2024  | 280 | 291 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Transportation Trust Fund Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2031  | 955 | 1062 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Intermediate-Term Municipal Fund** (Continued)

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;New Jersey State, Transportation Trust Fund Authority, Ser S, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2032  | $| 1250 | $1349 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Turnpike Authority, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2033  |  | 2230 | 2404 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Turnpike Authority, Ser D, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2028  |  | 1000 | 1073 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Turnpike Authority, Ser E, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2031  |  | 1250 | 1373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2032  |  | 6000 | 6579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2033  |  | 350 | 383 |
| &nbsp;&nbsp;&nbsp;Newark, Board of Education, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/15/2023  |  | 300 | 304 |
| &nbsp;&nbsp;&nbsp;Newark, Board of Education, GO, BAM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/15/2026  |  | 525 | 561 |
| &nbsp;&nbsp;&nbsp;South Jersey Port, Marine Terminal, Sub-Ser B, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2032  |  | 285 | 297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2033  |  | 425 | 442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2034  |  | 570 | 591 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2036  |  | 570 | 584 |
|  |  |  | 63490 |
| **New Mexico — 0.8%** | **New Mexico — 0.8%** | **New Mexico — 0.8%** |  |
| &nbsp;&nbsp;&nbsp;New Mexico State, Mortgage Finance Authority, Ser A, RB, GNMA FNMA FHLMC  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 01/01/2051  |  | 920 | 907 |
| &nbsp;&nbsp;&nbsp;New Mexico State, Severance Tax Permanent Fund, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2028  |  | 10940 | 12216 |
| &nbsp;&nbsp;&nbsp;Santa Fe, Retirement Facilities Revenue, El Castillo Retirement Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2034  |  | 650 | 604 |
|  |  |  | 13727 |
| **New York — 7.5%** | **New York — 7.5%** | **New York — 7.5%** |  |
| &nbsp;&nbsp;&nbsp;Brookhaven, Local Development, Jefferson's Ferry Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.625%, 11/01/2025  |  | 340 | 315 |
| &nbsp;&nbsp;&nbsp;Huntington, Local Development, Fountaingate Gardens Project, Ser S, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 07/01/2025  |  | 90 | 87 |
| &nbsp;&nbsp;&nbsp;Long Island, Power Authority, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2033  |  | 250 | 270 |
| &nbsp;&nbsp;&nbsp;Long Island, Power Authority, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 09/01/2037  |  | 1980 | 1998 |
| &nbsp;&nbsp;&nbsp;Long Island, Power Authority, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.850%, 09/01/2050 (A) |  | 1500 | 1366 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Metropolitan New York, Transportation Authority, Ser A, RB, BAN  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2023  | $1920 | $1925 |
| &nbsp;&nbsp;&nbsp;Metropolitan New York, Transportation Authority, Ser A-2, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2034 (A) | 1000 | 1020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2045 (A) | 500 | 529 |
| &nbsp;&nbsp;&nbsp;Metropolitan New York, Transportation Authority, Ser B1, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2029  | 4140 | 4217 |
| &nbsp;&nbsp;&nbsp;Metropolitan New York, Transportation Authority, Ser C-1, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2031  | 4000 | 4126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 11/15/2032  | 1500 | 1438 |
| &nbsp;&nbsp;&nbsp;Metropolitan New York, Transportation Authority, Ser D, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2030  | 1000 | 1023 |
| &nbsp;&nbsp;&nbsp;Monroe County, Industrial Development Authority, University of Rochester Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2028  | 1325 | 1443 |
| &nbsp;&nbsp;&nbsp;Nassau County, Local Economic Assistance, Catholic Health Services of Long Island Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2029  | 1000 | 1024 |
| &nbsp;&nbsp;&nbsp;New York & New Jersey, Port Authority, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2035  | 5000 | 5269 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2039  | 605 | 632 |
| &nbsp;&nbsp;&nbsp;New York City, Industrial Development Agency, Queens Baseball Stadium Project, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 01/01/2033  | 330 | 305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 01/01/2034  | 740 | 671 |
| &nbsp;&nbsp;&nbsp;New York City, Industrial Development Agency, Yankee Stadium Project, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2028  | 110 | 120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2030  | 100 | 111 |
| &nbsp;&nbsp;&nbsp;New York City, Ser A-1, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2026  | 465 | 503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2032  | 1810 | 2063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2047  | 1250 | 1336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/2037  | 4000 | 4020 |
| &nbsp;&nbsp;&nbsp;New York City, Ser B-1, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/01/2035  | 500 | 508 |
| &nbsp;&nbsp;&nbsp;New York City, Ser C, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/2036  | 2750 | 2781 |
| &nbsp;&nbsp;&nbsp;New York City, Ser F-1, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 03/01/2038  | 1695 | 1695 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Intermediate-Term Municipal Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;New York City, Sub-Ser B, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 10/01/2041  | $6240 | $6996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2033  | 280 | 325 |
| &nbsp;&nbsp;&nbsp;New York City, Transitional Finance Authority, Building Aid Revenue, Sub-Ser S1A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/15/2035  | 1650 | 1799 |
| &nbsp;&nbsp;&nbsp;New York City, Transitional Finance Authority, Future Tax Secured Revenue, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2033  | 925 | 1050 |
| &nbsp;&nbsp;&nbsp;New York City, Transitional Finance Authority, Future Tax Secured Revenue, Sub-Ser B-1, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 11/01/2024  | 1420 | 1458 |
| &nbsp;&nbsp;&nbsp;New York City, Transitional Finance Authority, Future Tax Secured Revenue, Sub-Ser D-S, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 11/01/2035  | 185 | 188 |
| &nbsp;&nbsp;&nbsp;New York City, Transitional Finance Authority, Future Tax Secured Revenue, Sub-Ser F-1, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 02/01/2038  | 410 | 410 |
| &nbsp;&nbsp;&nbsp;New York City, Water & Sewer System, Finance Authority, Ser DD-1, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.350%, 06/15/2043 (A) | 3530 | 3530 |
| &nbsp;&nbsp;&nbsp;New York City, Water & Sewer System, Sub-Ser, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 06/15/2040  | 1800 | 1520 |
| &nbsp;&nbsp;&nbsp;New York State, Dormitory Authority, New York Touro College & University System, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 100  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 07/01/2024 (C) | 910 | 948 |
| &nbsp;&nbsp;&nbsp;New York State, Dormitory Authority, Prefunded School Districts, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 100  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2028 (C) | 5 | 6 |
| &nbsp;&nbsp;&nbsp;New York State, Dormitory Authority, Ser 2015B-B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/15/2030  | 5000 | 5303 |
| &nbsp;&nbsp;&nbsp;New York State, Dormitory Authority, Ser D, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/15/2028  | 1900 | 2115 |
| &nbsp;&nbsp;&nbsp;New York State, Dormitory Authority, Ser E, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 03/15/2038  | 4845 | 4886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 03/15/2041  | 1500 | 1249 |
| &nbsp;&nbsp;&nbsp;New York State, Dormitory Authority, State University Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2035  | 2000 | 2153 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;New York State, Dormitory Authority, Unrefunded School Districts, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2033  | $3245 | $3606 |
| &nbsp;&nbsp;&nbsp;New York State, Liberty Development Authority, 1 World Trade Center Project, Ser 1WTC, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 02/15/2042  | 610 | 475 |
| &nbsp;&nbsp;&nbsp;New York State, Liberty Development Authority, 4 World Trade Center Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.200%, 11/15/2028  | 1355 | 1126 |
| &nbsp;&nbsp;&nbsp;New York State, Liberty Development Authority, 4 World Trade Center Project, Ser A-BAM-TCRS, RB, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 11/15/2051  | 2170 | 1596 |
| &nbsp;&nbsp;&nbsp;New York State, Mortgage Agency, Ser 189, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.250%, 04/01/2025  | 1000 | 998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.150%, 04/01/2024  | 920 | 920 |
| &nbsp;&nbsp;&nbsp;New York State, Mortgage Agency, Ser 194, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.250%, 10/01/2024  | 1000 | 999 |
| &nbsp;&nbsp;&nbsp;New York State, Thruway Authority, Ser A-1-GROUP, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 03/15/2036  | 2895 | 2956 |
| &nbsp;&nbsp;&nbsp;New York State, Thruway Authority, Ser J, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2027  | 2095 | 2142 |
| &nbsp;&nbsp;&nbsp;New York State, Thruway Authority, Ser L, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2024  | 3250 | 3330 |
| &nbsp;&nbsp;&nbsp;New York State, Transportation Development, Delta Airlines, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2034  | 4000 | 4031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2040  | 2625 | 2616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/01/2030  | 4550 | 4424 |
| &nbsp;&nbsp;&nbsp;New York State, Transportation Development, JFK International Airport Project, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2024  | 125 | 128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2025  | 115 | 119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2030  | 650 | 679 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2033  | 775 | 802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2036  | 4000 | 4057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2037  | 3000 | 3013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 08/01/2031  | 3000 | 2678 |
| &nbsp;&nbsp;&nbsp;New York State, Transportation Development, JFK International Airport Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2029  | 550 | 583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2030  | 125 | 133 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Intermediate-Term Municipal Fund** (Continued)

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;New York State, Urban Development Authority, Personal Income Tax, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/15/2032  | $| 3335 | $3419 |
| &nbsp;&nbsp;&nbsp;New York State, Urban Development Authority, Personal Income Tax, Ser E, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 03/15/2043  |  | 2315 | 2227 |
| &nbsp;&nbsp;&nbsp;New York State, Utility Debt Securitization Authority, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/15/2033  |  | 1810 | 1923 |
| &nbsp;&nbsp;&nbsp;Triborough, Bridge & Tunnel Authority, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 11/15/2036 (E) |  | 905 | 487 |
| &nbsp;&nbsp;&nbsp;TSASC, Tobacco Settlement Bonds, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2025  |  | 1000 | 1037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2030  |  | 525 | 543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2031  |  | 525 | 543 |
| &nbsp;&nbsp;&nbsp;Westchester County, Local Development, Pace University Project, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2034  |  | 2350 | 2360 |
| &nbsp;&nbsp;&nbsp;Westchester County, Local Development, Senior Learning Center Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.875%, 07/01/2026 (B) |  | 1055 | 1017 |
| &nbsp;&nbsp;&nbsp;Westchester, Tobacco Asset Securitization, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2031  |  | 2000 | 2081 |
|  |  |  | 131779 |
| **North Carolina — 1.0%** | **North Carolina — 1.0%** | **North Carolina — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;Charlotte, Airport Revenue, Douglas International Airport, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2037  |  | 2250 | 2392 |
| &nbsp;&nbsp;&nbsp;Charlotte, Airport Revenue, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2026  |  | 1525 | 1638 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2027  |  | 1500 | 1640 |
| &nbsp;&nbsp;&nbsp;Charlotte-Mecklenburg, Hospital Authority, Atrium Health Group, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/15/2049 (A) |  | 5000 | 5548 |
| &nbsp;&nbsp;&nbsp;Columbus County, Industrial Facilities & Pollution Control Financing Authority, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.100%, 03/01/2027 (A) |  | 1565 | 1507 |
| &nbsp;&nbsp;&nbsp;Greater Asheville, Regional Airport Authority, Ser A, AMT, RB, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2031  |  | 445 | 481 |
| &nbsp;&nbsp;&nbsp;North Carolina State, Medical Care Commission, Pennybyrn at Maryland Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 10/01/2024  |  | 740 | 715 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;North Carolina State, Medical Care Commission, Retirement Facilities First Mortgage, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2029  | $| 285 | $276 |
| &nbsp;&nbsp;&nbsp;North Carolina State, Medical Care Commission, The Forest at Duke Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 09/01/2041  |  | 830 | 716 |
| &nbsp;&nbsp;&nbsp;North Carolina State, Medical Care Commission, Twin Lakes Community, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2038  |  | 605 | 606 |
| &nbsp;&nbsp;&nbsp;North Carolina State, Turnpike Authority, RB, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2034  |  | 2000 | 2176 |
|  |  |  | 17695 |
| **North Dakota — 0.0%** | **North Dakota — 0.0%** | **North Dakota — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;North Dakota State, Housing Finance Agency, Home Mortgage Finance Program, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.550%, 07/01/2033  |  | 380 | 372 |
| **Ohio — 1.8%** | **Ohio — 1.8%** | **Ohio — 1.8%** |  |
| &nbsp;&nbsp;&nbsp;Allen County, Hospital Facilities Revenue, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2028  |  | 750 | 828 |
| &nbsp;&nbsp;&nbsp;American Municipal Power, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/15/2027  |  | 5000 | 5126 |
| &nbsp;&nbsp;&nbsp;Buckeye, Tobacco Settlement Financing Authority, Ser A-2, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2032  |  | 4325 | 4624 |
| &nbsp;&nbsp;&nbsp;Buckeye, Tobacco Settlement Financing Authority, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2055  |  | 1600 | 1466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 06/01/2057 (E) |  | 3035 | 355 |
| &nbsp;&nbsp;&nbsp;Cuyahoga County, Hospital Revenue, Metrohealth System, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/15/2037  |  | 3000 | 3069 |
| &nbsp;&nbsp;&nbsp;Hamilton County, Tax Revenue Authority, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2032  |  | 1600 | 1659 |
| &nbsp;&nbsp;&nbsp;Ohio State, Air Quality Development Authority, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 09/01/2030 (A) |  | 990 | 991 |
| &nbsp;&nbsp;&nbsp;Ohio State, Capital Facilities Correctional Building Fund Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2030  |  | 2655 | 2908 |
| &nbsp;&nbsp;&nbsp;Ohio State, Higher Educational Facilities Commission, Case Western Reserve University Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2029  |  | 2615 | 2855 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Intermediate-Term Municipal Fund** (Continued)

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Ohio State, Higher Educational Facility Commission, Kenyon College Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2035  | $| 680 | $727 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2037  |  | 300 | 317 |
| &nbsp;&nbsp;&nbsp;Ohio State, Hospital Facility Authority, Cleveland Clinic Health Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2031  |  | 1250 | 1374 |
| &nbsp;&nbsp;&nbsp;Ohio State, Hospital Revenue, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/15/2050 (A) |  | 3230 | 3343 |
| &nbsp;&nbsp;&nbsp;Ohio State, Portsmouth Bypass Project, AMT, RB, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/31/2027  |  | 655 | 677 |
| &nbsp;&nbsp;&nbsp;Southern Ohio, Port Authority, Purecycle Project, Ser A, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.250%, 12/01/2025 (B) |  | 1100 | 1054 |
|  |  |  | 31373 |
| **Oklahoma — 0.1%** | **Oklahoma — 0.1%** | **Oklahoma — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;Oklahoma State, Development Finance Authority, OU Medicine Project, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 08/15/2043  |  | 1510 | 1387 |
| **Oregon — 0.7%** | **Oregon — 0.7%** | **Oregon — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;Clackamas County, Hospital Facility Authority, Rose Villa Project, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.125%, 11/15/2040  |  | 500 | 458 |
| &nbsp;&nbsp;&nbsp;Marion & Polk County, Salem-Keizer School District No. 24J, Ser B, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2024  |  | 250 | 259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2025  |  | 275 | 291 |
| &nbsp;&nbsp;&nbsp;Medford, Hospital Facilities Authority, Asante Project, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2026  |  | 260 | 277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2034  |  | 1000 | 1083 |
| &nbsp;&nbsp;&nbsp;Oregon State, Department of Administrative Services, State Lottery, Ser C, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2024  |  | 2450 | 2527 |
| &nbsp;&nbsp;&nbsp;Oregon State, Facilities Authority, Legacy Health Project, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2024  |  | 1000 | 1027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2035  |  | 2500 | 2594 |
| &nbsp;&nbsp;&nbsp;Port of Portland, Airport Revenue, Portland International Airport, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2029  |  | 1040 | 1144 |
| &nbsp;&nbsp;&nbsp;Port of Portland, Airport Revenue, Portland International Airport, Ser 28, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/2036  |  | 2000 | 1941 |
| &nbsp;&nbsp;&nbsp;Umatilla County, School District No. 8R Hermiston, Ser A, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 06/15/2027 (E) |  | 1000 | 858 |
|  |  |  | 12459 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| **Pennsylvania — 6.7%** | **Pennsylvania — 6.7%** |  |
| &nbsp;&nbsp;&nbsp;Allegheny County, Hospital Development Authority, Allegheny Health Network Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2030  | $5000 | $5353 |
| &nbsp;&nbsp;&nbsp;Allentown, Neighborhood Improvement Zone Development Authority, City Center Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2042 (B) | 1850 | 1674 |
| &nbsp;&nbsp;&nbsp;Bucks County, Industrial Development Authority, Lane Charter School Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.125%, 03/15/2036  | 2000 | 2056 |
| &nbsp;&nbsp;&nbsp;Delaware Valley, Regional Finance Authority, Ser C, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.380%, 09/01/2048 (A) | 4000 | 3995 |
| &nbsp;&nbsp;&nbsp;East Hempfield Township, Industrial Development Authority, Student Services, Student Housing Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 100  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2024 (C) | 1600 | 1655 |
| &nbsp;&nbsp;&nbsp;Lancaster County, Hospital Authority, Penn State Health System Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2046  | 2000 | 2045 |
| &nbsp;&nbsp;&nbsp;Lancaster County, Hospital Authority, University of Pennsylvania Health System Project, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2026  | 1940 | 2093 |
| &nbsp;&nbsp;&nbsp;Luzerne County, Industrial Development Authority, America Water Project, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.450%, 12/01/2039 (A) | 2500 | 2250 |
| &nbsp;&nbsp;&nbsp;Montgomery County, Higher Education & Health Authority, Thomas Jefferson University Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2033  | 2815 | 3011 |
| &nbsp;&nbsp;&nbsp;Montgomery County, Industrial Development Authority, Retirement Communities Revenue, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2036  | 4485 | 4485 |
| &nbsp;&nbsp;&nbsp;Moon Township, Industrial Development Authority, Presbyterian Health Care Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.625%, 07/01/2030  | 1810 | 1688 |
| &nbsp;&nbsp;&nbsp;Octorara Area, School District, GO, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 04/01/2024  | 250 | 254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 04/01/2025  | 650 | 667 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Commonwealth Financing Authority, Tobacco Master Settlement, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2026  | 2995 | 3189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2033  | 3500 | 3795 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Intermediate-Term Municipal Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Economic Development Financing Authority, University of Pittsburgh Medical Center, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/15/2033  | $2300 | $2523 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/15/2026  | 2500 | 2703 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Housing Finance Agency, Ser 135A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 10/01/2051  | 1885 | 1837 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Turnpike Commission, Motor License Fund Enhanced, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2030  | 5000 | 5393 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Turnpike Commission, Motor License Fund Enhanced, Sub-Ser, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2033  | 6000 | 6525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2035  | 1000 | 1078 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Turnpike Commission, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2041  | 1960 | 1944 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Turnpike Commission, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2033  | 3000 | 3178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2039  | 250 | 274 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Turnpike Commission, Sub-Ser A1, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2030  | 4260 | 4425 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Turnpike Commission, Sub-Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2028  | 3000 | 3180 |
| &nbsp;&nbsp;&nbsp;Philadelphia, Airport Revenue, AMT, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/2040  | 500 | 473 |
| &nbsp;&nbsp;&nbsp;Philadelphia, Airport Revenue, Ser B, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2031  | 1000 | 1051 |
| &nbsp;&nbsp;&nbsp;Philadelphia, Hospitals & Higher Education Facilities Authority, Temple University Health System Project, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2036  | 700 | 754 |
| &nbsp;&nbsp;&nbsp;Philadelphia, Industrial Development Authority, University Square Apartments Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2037  | 4725 | 4899 |
| &nbsp;&nbsp;&nbsp;Philadelphia, Redevelopment Authority, Ser B, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/15/2025  | 1250 | 1307 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Philadelphia, School District, Ser A, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2029  | $| 1500 | $1652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2030  |  | 1000 | 1087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2034  |  | 1410 | 1551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2036  |  | 2000 | 2134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 09/01/2035  |  | 5000 | 5056 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 09/01/2038  |  | 3000 | 2966 |
| &nbsp;&nbsp;&nbsp;Philadelphia, School District, Ser F, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 100  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2026 (C) |  | 25 | 27 |
| &nbsp;&nbsp;&nbsp;Philadelphia, School District, Ser F, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2028  |  | 3390 | 3609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2030  |  | 7975 | 8447 |
| &nbsp;&nbsp;&nbsp;Philadelphia, Ser A, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2032  |  | 5905 | 6599 |
| &nbsp;&nbsp;&nbsp;Philadelphia, Water & Wastewater Revenue, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2033  |  | 2000 | 2257 |
| &nbsp;&nbsp;&nbsp;Southeastern Pennsylvania, Transportation Authority, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 06/01/2039  |  | 2250 | 2552 |
|  |  |  | 117691 |
| **Puerto Rico — 2.9%** | **Puerto Rico — 2.9%** | **Puerto Rico — 2.9%** |  |
| &nbsp;&nbsp;&nbsp;Puerto Rico, Electric Power Authority, Ser CCC, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 07/01/2027 (F) |  | 2990 | 2213 |
| &nbsp;&nbsp;&nbsp;Puerto Rico, Electric Power Authority, Ser TT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2032 (F) |  | 1000 | 738 |
| &nbsp;&nbsp;&nbsp;Puerto Rico, Electric Power Authority, Ser WW, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 07/01/2033 (F) |  | 3035 | 2246 |
| &nbsp;&nbsp;&nbsp;Puerto Rico, Electric Power Authority, Ser XX, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 07/01/2040 (F) |  | 2940 | 2176 |
| &nbsp;&nbsp;&nbsp;Puerto Rico, GDB Debt Recovery Authority, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.500%, 08/20/2040  |  | 1814 | 1515 |
| &nbsp;&nbsp;&nbsp;Puerto Rico, Sales Tax Financing Sales Tax Revenue, Ser A-1, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 07/01/2029 (E) |  | 1500 | 1090 |
| &nbsp;&nbsp;&nbsp;Puerto Rico, Sales Tax Financing, Sales Tax Revenue, Ser A1, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 07/01/2053  |  | 1000 | 911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 07/01/2046 (E) |  | 14830 | 3719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 07/01/2051 (E) |  | 22042 | 4120 |
| &nbsp;&nbsp;&nbsp;Puerto Rico, Sales Tax Financing, Sales Tax Revenue, Ser A-1, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.550%, 07/01/2040  |  | 8625 | 8011 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Intermediate-Term Municipal Fund** (Continued)

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Puerto Rico, Sales Tax Financing, Sales Tax Revenue, Ser A-2, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.329%, 07/01/2040  | $| 13040 | $11780 |
| &nbsp;&nbsp;&nbsp;Puerto Rico, Ser A1, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.625%, 07/01/2027  |  | 3400 | 3478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/2035  |  | 1284 | 1092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/2037  |  | 3350 | 2791 |
| &nbsp;&nbsp;&nbsp;Puerto Rico, Sub-Ser CW, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 11/01/2043 (A)(G) |  | 11894 | 5412 |
|  |  |  | 51292 |
| **Rhode Island — 0.1%** | **Rhode Island — 0.1%** | **Rhode Island — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;Rhode Island State, Health & Educational Building Authority, University of Rhode Island Project, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/15/2028  |  | 1405 | 1510 |
| **South Carolina — 1.7%** | **South Carolina — 1.7%** | **South Carolina — 1.7%** |  |
| &nbsp;&nbsp;&nbsp;Piedmont, Municipal Power Agency, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 01/01/2033  |  | 5125 | 5195 |
| &nbsp;&nbsp;&nbsp;Piedmont, Municipal Power Agency, Ser E, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2024  |  | 485 | 496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2025  |  | 385 | 400 |
| &nbsp;&nbsp;&nbsp;South Carolina State, Housing Finance & Development Authority, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.750%, 01/01/2050  |  | 605 | 600 |
| &nbsp;&nbsp;&nbsp;South Carolina State, Jobs-Economic Development Authority, Bons Secours Mercy Health, Ser S, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2035  |  | 1460 | 1611 |
| &nbsp;&nbsp;&nbsp;South Carolina State, Jobs-Economic Development Authority, High Point Academy Project, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.750%, 06/15/2039 (B) |  | 1870 | 1897 |
| &nbsp;&nbsp;&nbsp;South Carolina State, Port Authority, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2029  |  | 2250 | 2403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2030  |  | 1500 | 1597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/2035  |  | 1160 | 1154 |
| &nbsp;&nbsp;&nbsp;South Carolina State, Public Service Authority, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2025  |  | 385 | 404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2031  |  | 540 | 589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2036  |  | 2750 | 2905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2034  |  | 2000 | 1990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2036  |  | 2250 | 2207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2038  |  | 175 | 170 |
| &nbsp;&nbsp;&nbsp;South Carolina State, Public Service Authority, Ser C, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2026  |  | 3800 | 3924 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;South Carolina State. Public Service Authority, Ser E, RB, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 12/01/2038  | $| 2500 | $2727 |
|  |  |  | 30269 |
| **South Dakota — 0.3%** | **South Dakota — 0.3%** | **South Dakota — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;South Dakota State, Educational Enhancement Funding, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 100  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2023 (C) |  | 1000 | 1012 |
| &nbsp;&nbsp;&nbsp;South Dakota State, Health & Educational Facilities Authority, Sanford Obligated Group, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2027  |  | 830 | 871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2028  |  | 900 | 944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2035  |  | 1005 | 1034 |
| &nbsp;&nbsp;&nbsp;South Dakota State, Housing Development Authority, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 11/01/2049  |  | 840 | 840 |
|  |  |  | 4701 |
| **Tennessee — 0.8%** | **Tennessee — 0.8%** | **Tennessee — 0.8%** |  |
| &nbsp;&nbsp;&nbsp;Chattanooga, Commonspirit Health, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2034  |  | 1015 | 1068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2035  |  | 420 | 440 |
| &nbsp;&nbsp;&nbsp;Greeneville, Health & Educational Facilities Board, Ballad Health Obligation Group, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2031  |  | 3000 | 3016 |
| &nbsp;&nbsp;&nbsp;Tennergy, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2051 (A) |  | 2500 | 2450 |
| &nbsp;&nbsp;&nbsp;Tennessee State, Energy Acquisition, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 11/01/2049 (A) |  | 2500 | 2488 |
| &nbsp;&nbsp;&nbsp;Tennessee State, Energy Acquisition, Ser C, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2027  |  | 3485 | 3563 |
| &nbsp;&nbsp;&nbsp;Tennessee State, Housing Development Agency, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/2045  |  | 615 | 614 |
|  |  |  | 13639 |
| **Texas — 8.5%** | **Texas — 8.5%** | **Texas — 8.5%** |  |
| &nbsp;&nbsp;&nbsp;Arlington, Higher Education Finance, RB, PSF-GTD  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2038  |  | 810 | 897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2040  |  | 695 | 763 |
| &nbsp;&nbsp;&nbsp;Arlington, Special Tax Revenue, Special Tax, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/15/2030  |  | 2000 | 2092 |
| &nbsp;&nbsp;&nbsp;Austin, Electric Utility Revenue, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2032  |  | 1535 | 1648 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Intermediate-Term Municipal Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Austin, Texas Airport System Revenue, Ser B, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2037  | $900 | $926 |
| &nbsp;&nbsp;&nbsp;Austin-Bergstrom, Landhost Enterprises, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2026 (F) | 465 | 486 |
| &nbsp;&nbsp;&nbsp;Central Texas, Regional Mobility Authority, Senior Lien, Ser D, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 01/01/2037  | 770 | 766 |
| &nbsp;&nbsp;&nbsp;Central Texas, Regional Mobility Authority, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2036  | 200 | 217 |
| &nbsp;&nbsp;&nbsp;Central Texas, Turnpike System, Sub-Ser C, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2031  | 2500 | 2560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2033  | 6500 | 6640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2037  | 1475 | 1499 |
| &nbsp;&nbsp;&nbsp;Clear Creek, Independent School District, GO, PSF-GTD  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.280%, 02/15/2038 (A) | 640 | 603 |
| &nbsp;&nbsp;&nbsp;Clifton, Higher Education Finance, Public Schools Project, RB, PSF-GTD  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2027  | 1050 | 1083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/15/2032  | 1000 | 1043 |
| &nbsp;&nbsp;&nbsp;Collin County, Community College District, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/15/2034  | 2500 | 2596 |
| &nbsp;&nbsp;&nbsp;Corpus Christi, Utility System Revenue, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/15/2033  | 1500 | 1674 |
| &nbsp;&nbsp;&nbsp;Cypress-Fairbanks, Independent School District, GO, PSF-GTD  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/15/2032  | 5500 | 6170 |
| &nbsp;&nbsp;&nbsp;Dallas City, Hotel Occupancy Tax Revenue, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/15/2031  | 1000 | 1007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/15/2034  | 480 | 477 |
| &nbsp;&nbsp;&nbsp;Dallas City, Love Field, Airport Modernization, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2030  | 1000 | 1048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2031  | 1250 | 1309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2032  | 2500 | 2609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2033  | 1175 | 1221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2034  | 1000 | 1035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2035  | 1000 | 1033 |
| &nbsp;&nbsp;&nbsp;Dallas County, Utility & Reclamation District, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/15/2028  | 1000 | 1091 |
| &nbsp;&nbsp;&nbsp;Dallas-Fort Worth, International Airport Facilities Improvement Authority, Ser G, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 11/01/2026  | 2250 | 2298 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Dallas-Fort Worth, International Airport Revenue, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2024  | $250 | $260 |
| &nbsp;&nbsp;&nbsp;Denton, Utility System Revenue, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2032  | 7500 | 8042 |
| &nbsp;&nbsp;&nbsp;El Paso, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2034  | 2050 | 2185 |
| &nbsp;&nbsp;&nbsp;Georgetown, Utility System Revenue, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2037  | 1705 | 1875 |
| &nbsp;&nbsp;&nbsp;Harris County, Cultural Education Facilities Finance, Memorial Herman Health System, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2025  | 2000 | 2115 |
| &nbsp;&nbsp;&nbsp;Harris County, Cultural Education Facilities Finance, TECO Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2028  | 1250 | 1373 |
| &nbsp;&nbsp;&nbsp;Harris County, Houston Sports Authority, Senior Lien, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2028  | 2500 | 2576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2029  | 2325 | 2395 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2030  | 3310 | 3409 |
| &nbsp;&nbsp;&nbsp;Harris County, Houston Sports Authority, Ser C, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2033  | 1100 | 1126 |
| &nbsp;&nbsp;&nbsp;Hidalgo County, Regional Mobility Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2031  | 260 | 274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2032  | 300 | 314 |
| &nbsp;&nbsp;&nbsp;Houston, Airport System Revenue, Sub-Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2029  | 3685 | 4052 |
| &nbsp;&nbsp;&nbsp;Houston, Airport System Revenue, Sub-Ser C, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2029  | 2450 | 2610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2032  | 1500 | 1584 |
| &nbsp;&nbsp;&nbsp;Houston, Airport System Revenue, United Airlines Project, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2029  | 1980 | 1983 |
| &nbsp;&nbsp;&nbsp;Houston, Hotel Occupancy Tax & Special Revenue, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 09/01/2023  | 190 | 192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 09/01/2025  | 215 | 220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 09/01/2026  | 160 | 165 |
| &nbsp;&nbsp;&nbsp;Lower Colorado, River Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2031  | 1000 | 1045 |
| &nbsp;&nbsp;&nbsp;New Hope, Cultural Education Facilities Finance, Children's Health System, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2030  | 1645 | 1780 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Intermediate-Term Municipal Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;New Hope, Cultural Education Facilities Finance, Sanctuary LTC Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 01/01/2057  | $750 | $580 |
| &nbsp;&nbsp;&nbsp;New Hope, Cultural Education Facilities Finance, Westminster Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 11/01/2055  | 385 | 284 |
| &nbsp;&nbsp;&nbsp;North East Texas, Independent School District, Ser B, GO, PSF-GTD  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 08/01/2052 (A) | 3175 | 3152 |
| &nbsp;&nbsp;&nbsp;North Texas, Municipal Water District, Water System Revenue, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2027  | 2560 | 2768 |
| &nbsp;&nbsp;&nbsp;North Texas, Tollway Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2035  | 1800 | 1903 |
| &nbsp;&nbsp;&nbsp;North Texas, Tollway Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2031  | 6410 | 6692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2034  | 7285 | 7613 |
| &nbsp;&nbsp;&nbsp;North Texas, Tollway Authority, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2031  | 1775 | 1872 |
| &nbsp;&nbsp;&nbsp;San Antonio, Airport System, Sub-Ser A, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2026  | 1040 | 1090 |
| &nbsp;&nbsp;&nbsp;San Antonio, Electric & Gas Systems Revenue, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 02/01/2024  | 6000 | 6181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2023  | 940 | 944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2035  | 375 | 419 |
| &nbsp;&nbsp;&nbsp;San Antonio, Electric & Gas Systems Revenue, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2033  | 1410 | 1587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2034  | 1700 | 1901 |
| &nbsp;&nbsp;&nbsp;San Antonio, Electric & Gas Systems Revenue, Ser B-REMK, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 02/01/2033  | 1000 | 1067 |
| &nbsp;&nbsp;&nbsp;San Antonio, Electric & Gas Systems Revenue, Ser Junior Lien, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.750%, 02/01/2049 (A) | 735 | 697 |
| &nbsp;&nbsp;&nbsp;Tarrant County, Cultural Education Facilities Finance, Baylor Scott & White Health, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2032  | 1500 | 1575 |
| &nbsp;&nbsp;&nbsp;Tarrant County, Cultural Education Facilities Finance, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2053 (A) | 2000 | 2180 |
| &nbsp;&nbsp;&nbsp;Texas State, Municipal Gas Acquisition & Supply I, Senior Lien, Ser D, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.250%, 12/15/2026  | 900 | 940 |
| &nbsp;&nbsp;&nbsp;Texas State, Municipal Gas Acquisition & Supply III, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/15/2031  | 1000 | 1046 |
| &nbsp;&nbsp;&nbsp;Texas State, Private Activity Bond, Surface Transportation, Senior Lien, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 12/31/2038  | 2500 | 2560 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Texas State, Ser B, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/2030  | $| 625 | $642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/2031  |  | 435 | 445 |
| &nbsp;&nbsp;&nbsp;Texas State, Transportation Commission State, Highway Fund, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 100  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2024 (C) |  | 3000 | 3095 |
| &nbsp;&nbsp;&nbsp;Texas State, Transportation Commission State, Highway Fund, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2028  |  | 2630 | 2823 |
| &nbsp;&nbsp;&nbsp;Texas State, Water Development Board, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/15/2026  |  | 3750 | 4075 |
| &nbsp;&nbsp;&nbsp;Trinity River Authority, Central Regional Wastewater System Revenue, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2032  |  | 1000 | 1094 |
| &nbsp;&nbsp;&nbsp;University of Houston, Ser C, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/15/2029  |  | 3000 | 3211 |
| &nbsp;&nbsp;&nbsp;University of Texas, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 100  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2024 (C) |  | 2285 | 2370 |
| &nbsp;&nbsp;&nbsp;Uptown Development Authority, TA  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 09/01/2033  |  | 400 | 379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 09/01/2035  |  | 275 | 255 |
|  |  |  | 149806 |
| **Utah — 0.5%** | **Utah — 0.5%** | **Utah — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;Salt Lake City, Airport Revenue, Ser A, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2035  |  | 5000 | 5180 |
| &nbsp;&nbsp;&nbsp;Salt Lake City, Airport Revenue, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2035  |  | 1500 | 1590 |
| &nbsp;&nbsp;&nbsp;Utah State, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 07/01/2034  |  | 495 | 484 |
| &nbsp;&nbsp;&nbsp;Utah State, Transit Authority, Sub-Ser, RB, BAM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/15/2032  |  | 1585 | 1750 |
|  |  |  | 9004 |
| **Vermont — 0.0%** | **Vermont — 0.0%** | **Vermont — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;Vermont State, Housing Finance Agency, Ser F, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 11/01/2045  |  | 170 | 170 |
| **Virgin Islands — 0.1%** | **Virgin Islands — 0.1%** | **Virgin Islands — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;Virgin Islands, Matching Fund, Special Purpose Securitization, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2039  |  | 1065 | 1071 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Intermediate-Term Municipal Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| **Virginia — 1.8%** | **Virginia — 1.8%** |  |
| &nbsp;&nbsp;&nbsp;Arlington County, Industrial Development Authority, Virginia Hospital Center, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2026  | $280 | $296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2027  | 250 | 267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2028  | 375 | 406 |
| &nbsp;&nbsp;&nbsp;Fairfax County, Industrial Development Authority, Inova Health System Project, Ser S, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2026  | 3055 | 3283 |
| &nbsp;&nbsp;&nbsp;Halifax County, Industrial Development Authority, Virginia Electric & Power Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.650%, 12/01/2041 (A) | 1320 | 1272 |
| &nbsp;&nbsp;&nbsp;Henrico County, Economic Development Authority, Westminster Canterbury Richmond, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2042  | 430 | 454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2047  | 1225 | 1279 |
| &nbsp;&nbsp;&nbsp;Norfolk, Economic Development Authority, Sentara Health Care, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2048 (A) | 1035 | 1131 |
| &nbsp;&nbsp;&nbsp;Virginia State, College Building Authority, 21st Century College Program, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2028  | 2000 | 2224 |
| &nbsp;&nbsp;&nbsp;Virginia State, Public Building Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/2038  | 5500 | 5605 |
| &nbsp;&nbsp;&nbsp;Virginia State, Small Business Financing Authority, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2035  | 1085 | 1126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/30/2042  | 2000 | 2087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/31/2047  | 440 | 454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/2030  | 1140 | 1135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/2031  | 365 | 362 |
| &nbsp;&nbsp;&nbsp;Virginia State, Small Business Financing Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2026  | 490 | 510 |
| &nbsp;&nbsp;&nbsp;Virginia State, Tobacco Settlement Financing, Sub-Ser C, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 06/01/2047 (E) | 41470 | 9932 |
|  |  | 31823 |
| **Washington — 2.0%** | **Washington — 2.0%** |  |
| &nbsp;&nbsp;&nbsp;King County, Public Hospital District No. 1, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2027  | 7720 | 8287 |
| &nbsp;&nbsp;&nbsp;Port of Seattle, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2028  | 5055 | 5414 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2036  | 1500 | 1572 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2041  | 1000 | 1044 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Port of Seattle, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 06/01/2038  | $| 1000 | $1004 |
| &nbsp;&nbsp;&nbsp;Port of Seattle, Ser C, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2032  |  | 1500 | 1540 |
| &nbsp;&nbsp;&nbsp;Washington State, Electric Revenue, Energy Northwest, Columbia Generating Station Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2040  |  | 2500 | 2772 |
| &nbsp;&nbsp;&nbsp;Washington State, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/2036  |  | 4500 | 4645 |
| &nbsp;&nbsp;&nbsp;Washington State, Health Care Facilities Authority, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2027  |  | 1250 | 1297 |
| &nbsp;&nbsp;&nbsp;Washington State, Housing Finance Commission, Social Certificate, Ser A-1, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 12/20/2035  |  | 978 | 877 |
| &nbsp;&nbsp;&nbsp;Washington State, Housing Finance Commission, Transforming Age Project, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2034 (B) |  | 745 | 668 |
| &nbsp;&nbsp;&nbsp;Washington State, Ser R-2015E, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2031  |  | 2730 | 2854 |
| &nbsp;&nbsp;&nbsp;Washington State, Various Purpose, Ser 2015-A1, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2030  |  | 2540 | 2635 |
|  |  |  | 34609 |
| **West Virginia — 0.4%** | **West Virginia — 0.4%** | **West Virginia — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;West Virginia State, Economic Development Authority, Appalachian Power Amos Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.750%, 12/01/2042 (A) |  | 2300 | 2268 |
| &nbsp;&nbsp;&nbsp;West Virginia State, Parkways Authority, Turnpike Toll Revenue, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2031  |  | 1250 | 1373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2032  |  | 1510 | 1654 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2034  |  | 1000 | 1091 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2035  |  | 1005 | 1094 |
|  |  |  | 7480 |
| **Wisconsin — 2.9%** | **Wisconsin — 2.9%** | **Wisconsin — 2.9%** |  |
| &nbsp;&nbsp;&nbsp;Milwaukee County, Airport Revenue, Ser A, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2026  |  | 500 | 529 |
| &nbsp;&nbsp;&nbsp;University of Wisconsin, Hospitals & Clinics, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 04/01/2037  |  | 500 | 500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 04/01/2039  |  | 295 | 292 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Center District, Ser C, RB, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 12/15/2029 (E) |  | 370 | 287 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Intermediate-Term Municipal Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Wisconsin State, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2026  | $1175 | $1279 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Health & Educational Facilities Authority, Advocate Aurora Health Credit Group, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2031  | 4155 | 4548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2054 (A) | 2000 | 2119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.030%, 08/15/2054 (A) | 1125 | 1084 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Health & Educational Facilities Authority, Ascension Health Credit Group, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2030  | 3810 | 4044 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Health & Educational Facilities Authority, Children's Hospital of Wisconsin, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2034  | 1835 | 1950 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Health & Educational Facilities Authority, Oakwood Lutheran Senior Ministries, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 01/01/2037  | 665 | 554 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Health & Educational Facilities Authority, Prohealth Care Obligation Group, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2034  | 1155 | 1176 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Health & Educational Facilities Authority, St. Camilus Health System, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2028  | 470 | 457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2030  | 1035 | 991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2039  | 1135 | 1010 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Health & Educational Facilities Authority, Three Pillars Senior Living Communities, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/15/2041  | 705 | 607 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Health & Educational Facilities Authority, Unitypoint Health, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2029  | 1650 | 1701 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Housing & Economic Development Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 03/01/2052  | 930 | 897 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Housing & Economic Development Authority, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.500%, 11/01/2050 (A) | 240 | 225 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Public Finance Authority, American Dream @ Meadowlands Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 12/01/2050 (B) | 1390 | 1156 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Public Finance Authority, Appalachian Regional Healthcare System, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2039  | $| 475 | $489 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2040  |  | 325 | 333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2041  |  | 750 | 768 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Public Finance Authority, Appalachian State University Project, RB, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/2027  |  | 225 | 231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/2028  |  | 225 | 232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/2029  |  | 225 | 230 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Public Finance Authority, Celanese Project, Ser A, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2024  |  | 1395 | 1406 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Public Finance Authority, Duke Energy Progress Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.700%, 10/01/2046 (A) |  | 10450 | 10457 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Public Finance Authority, Grand Hyatt San Antonio Hotel Acquisition Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2042  |  | 1475 | 1420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2052  |  | 1785 | 1652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2062  |  | 815 | 738 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Public Finance Authority, KU Campus Development Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2034  |  | 6880 | 7207 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Public Finance Authority, United Methodist Retirement Facility Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/01/2025  |  | 285 | 283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/01/2026  |  | 300 | 296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/01/2027  |  | 125 | 123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/01/2028  |  | 250 | 243 |
|  |  |  | 51514 |
| Total Municipal Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $1,806,675) ($ Thousands) |  |  | 1733685 |
|  | <br> Shares | <br> Shares |  |
| **CASH EQUIVALENT — 0.0%** | **CASH EQUIVALENT — 0.0%** | **CASH EQUIVALENT — 0.0%** | **CASH EQUIVALENT — 0.0%** |
| &nbsp;&nbsp;&nbsp;SEI Daily Income Trust, Government Fund, Cl F |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.370%\*\*<sup>†</sup> |  | 944011 | 944 |
| Total Cash Equivalent |  |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $944) ($ Thousands) |  |  | 944 |
| Total Investments in Securities — 98.9% |  |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $1,807,619) ($ Thousands)  | &nbsp;&nbsp;&nbsp;(Cost $1,807,619) ($ Thousands)  | &nbsp;&nbsp;&nbsp;(Cost $1,807,619) ($ Thousands)  | $1734629 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Intermediate-Term Municipal Fund** (Concluded)

---

| | |
|:---|:---|
|  | Percentages are based on Net Assets of $1,753,414 ($ Thousands). |
| \*\* | The rate reported is the 7-day effective yield as of November 30, 2022. |
| <sup>†</sup> | Investment in Affiliated Security. |
| (A) | Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates. |
| (B) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration normally to qualified institutions. On November 30, 2022, the value of these securities amounted to $32,833 ($ Thousands), representing 1.9% of the Net Assets of the Fund. |
| (C) | Pre-Refunded Securities — The maturity date shown is the pre-refunded date. |
| (D) | Security is escrowed to maturity. |
| (E) | Zero coupon security.  |
| (F) | Security is in default on interest payment. |
| (G) | No interest rate available. |

---

The following is a summary of the level of inputs used as of November 30, 2022, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands):

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in Securities** | **Level 1<br> ($)** | **Level 2<br> ($)** | **Level 3<br> ($)** | **Total<br> ($)** |
| &nbsp;&nbsp;&nbsp;Municipal Bonds |  | 1733685 |  | 1733685 |
| &nbsp;&nbsp;&nbsp;Cash Equivalent | 944 | – |  | 944 |
| Total Investments in Securities | 944 | 1733685 |  | 1734629 |

---

For information on the Fund's policy regarding valuation of investments, fair value hierarchy levels and other significant accounting policies, please refer to Note 2 of the Fund's most recent financial statements.

The following is a summary of the transactions with affiliates for the period ended November 30, 2022 ($ Thousands):

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description**  | **Value 8/31/22** | **Purchases at Cost**  | **Proceeds from Sales**  | **Realized Gain/ (Loss)** | **Change in Unrealized Appreciation/ (Depreciation)** | **Value 11/30/22** | **Income**  | **Capital Gains** |
| SEI Daily Income Trust, Government Fund, Cl F | $&nbsp;&nbsp;&nbsp;&nbsp;682 | $&nbsp;&nbsp;&nbsp;&nbsp;46695 | $&nbsp;&nbsp;&nbsp;&nbsp;(46433) | $&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;944 | $&nbsp;&nbsp;&nbsp;&nbsp;12 | $&nbsp;&nbsp;&nbsp;&nbsp;— |

---

Amounts designated as "—" are $0 or have been rounded to $0.

See "Glossary" for abbreviations.

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Short Duration Municipal Fund** 

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS — 99.3%** | **MUNICIPAL BONDS — 99.3%** | **MUNICIPAL BONDS — 99.3%** |
| **Alabama — 8.1%** | **Alabama — 8.1%** |  |
| &nbsp;&nbsp;&nbsp;Baptist Health, Health Care Authority, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.520%, 11/01/2042 (A) | $2035 | $2035 |
| &nbsp;&nbsp;&nbsp;Baptist Health, Health Care Authority, Ser B, RB, AGC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 11/15/2037 (A) | 1325 | 1325 |
| &nbsp;&nbsp;&nbsp;Black Belt, Energy Gas District, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.660%, 12/01/2048 (A) | 13510 | 13486 |
| &nbsp;&nbsp;&nbsp;Black Belt, Energy Gas District, Ser A-1, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2049 (A) | 3940 | 3925 |
| &nbsp;&nbsp;&nbsp;Black Belt, Energy Gas District, Ser E, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2024  | 1250 | 1273 |
| &nbsp;&nbsp;&nbsp;Black Belt, Energy Gas District, Ser S, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2023  | 2000 | 2001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2024  | 1765 | 1764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2025  | 7520 | 7500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/01/2052 (A) | 2500 | 2475 |
| &nbsp;&nbsp;&nbsp;Black Belt, Energy Gas District, Sub-Ser, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.953%, 07/01/2052 (A) | 2000 | 1973 |
| &nbsp;&nbsp;&nbsp;Columbia, Industrial Development Board, Alabama Power Company Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.600%, 12/01/2037 (A) | 4000 | 4000 |
| &nbsp;&nbsp;&nbsp;Lower Alabama, Gas District, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2023  | 550 | 551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2024  | 500 | 500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2025  | 730 | 730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2050 (A) | 10000 | 9965 |
| &nbsp;&nbsp;&nbsp;Mobile, Industrial Development Board, Pollution Control Authority, Barry Plant Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.900%, 07/15/2034 (A) | 1000 | 995 |
| &nbsp;&nbsp;&nbsp;Selma, Industrial Development Board, International Paper Company Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.375%, 05/01/2034 (A) | 5250 | 4888 |
| &nbsp;&nbsp;&nbsp;Southeast Alabama, Energy Authority, Cooperative District Project, Ser B-1, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2024  | 1300 | 1320 |
| &nbsp;&nbsp;&nbsp;Southeast Alabama, Gas Supply District, LIBOR Project #2, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.610%, 06/01/2049 (A) | 18940 | 18607 |
| &nbsp;&nbsp;&nbsp;Southeast Alabama, Gas Supply District, Project #1, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 04/01/2049 (A) | 6850 | 6842 |
| &nbsp;&nbsp;&nbsp;Southeast Alabama, Gas Supply District, SIFMA Index Project, Ser C, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 04/01/2049 (A) | 2500 | 2465 |
| &nbsp;&nbsp;&nbsp;Taylor-Ryan, Improvement District, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 11/01/2035 (A)(B) | 100 | 100 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;University of South Alabama, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 04/01/2023  | $| 425 | $427 |
|  |  |  | 89147 |
| **Alaska — 0.4%** | **Alaska — 0.4%** | **Alaska — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;Alaska State, International Airports System, Ser C, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2025  |  | 1980 | 2065 |
| &nbsp;&nbsp;&nbsp;Alaska State, Municipal Bond Bank Authority, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2022  |  | 700 | 700 |
| &nbsp;&nbsp;&nbsp;Northern Alaska, Tobacco Securitization, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2024  |  | 600 | 613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 06/01/2023  |  | 500 | 502 |
|  |  |  | 3880 |
| **Arizona — 1.0%** | **Arizona — 1.0%** | **Arizona — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;Arizona State, Health Facilities Authority, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.100%, 01/01/2046 (A) |  | 1000 | 965 |
| &nbsp;&nbsp;&nbsp;Arizona State, Industrial Development Authority, Phoenix Children's Hospital, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2024  |  | 200 | 205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2025  |  | 450 | 470 |
| &nbsp;&nbsp;&nbsp;Chandler, Industrial Development Authority, Intel Corp. Project, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2049 (A) |  | 1680 | 1705 |
| &nbsp;&nbsp;&nbsp;Coconino County, Pollution Control, Nevada Power Company, Ser S, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.875%, 09/01/2032 (A) |  | 3500 | 3485 |
| &nbsp;&nbsp;&nbsp;Maricopa County, Industrial Development Authority, Banner Health, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.420%, 01/01/2035 (A) |  | 3765 | 3749 |
| &nbsp;&nbsp;&nbsp;Maricopa County, Special Health Care District, Ser D, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2024  |  | 990 | 1025 |
|  |  |  | 11604 |
| **California — 2.7%** | **California — 2.7%** | **California — 2.7%** |  |
| &nbsp;&nbsp;&nbsp;Anaheim, Public Financing Authority, Public Improvements Project, Ser C, RB, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 09/01/2023 (C) |  | 1500 | 1467 |
| &nbsp;&nbsp;&nbsp;Bay Area, Toll Authority, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.130%, 04/01/2056 (A) |  | 1250 | 1251 |
| &nbsp;&nbsp;&nbsp;California State, Choice Financing Authority, Clean Energy Project, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/2025  |  | 535 | 539 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Short Duration Municipal Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;California State, Choice Financing Authority, Clean Energy Project, Ser S, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2026  | $450 | $455 |
| &nbsp;&nbsp;&nbsp;California State, Educational Facilities Authority, University of San Diego, RB, AMBAC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 10/01/2023 (C) | 1120 | 1093 |
| &nbsp;&nbsp;&nbsp;California State, Infrastructure & Economic Development Bank, Academy of Sciences, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.200%, 08/01/2047 (A) | 2500 | 2463 |
| &nbsp;&nbsp;&nbsp;California State, Municipal Finance Authority, Republic Services Project, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875%, 07/01/2041 (A) | 6300 | 6309 |
| &nbsp;&nbsp;&nbsp;California State, Municipal Finance Authority, Waste Management Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.300%, 02/01/2039 (A)(D) | 1500 | 1408 |
| &nbsp;&nbsp;&nbsp;California State, Pollution Control Financing Authority, America Water Capital Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.600%, 08/01/2040 (A) | 2025 | 1985 |
| &nbsp;&nbsp;&nbsp;California State, Public Works Board, Various Capital Projects, Ser H, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2024  | 1780 | 1867 |
| &nbsp;&nbsp;&nbsp;California State, Statewide Communities Development Authority, Dignity Health, Ser D, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.010%, 07/01/2041 (A) | 1925 | 1925 |
| &nbsp;&nbsp;&nbsp;California State, Statewide Communities Development Authority, Dignity Health, Ser E, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.650%, 07/01/2040 (A) | 4025 | 4025 |
| &nbsp;&nbsp;&nbsp;Cathedral, Redevelopment Agency, Successor Agency, TA  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/2023  | 100 | 101 |
| &nbsp;&nbsp;&nbsp;Cathedral, Redevelopment Agency, Successor Agency, TA, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/2024  | 245 | 249 |
| &nbsp;&nbsp;&nbsp;Los Angeles, Department of Airports, Sub-Ser, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2024  | 965 | 992 |
| &nbsp;&nbsp;&nbsp;Los Angeles, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 06/29/2023  | 1000 | 1009 |
| &nbsp;&nbsp;&nbsp;Newman-Crows Landing, Unified School District, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 08/01/2025 (C) | 500 | 457 |
| &nbsp;&nbsp;&nbsp;Southern Kern, Unified School District, Ser D, GO, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 11/01/2024 (C) | 200 | 189 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Vernon, Electric System Revenue, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2023  | $| 1240 | $1246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2024  |  | 1100 | 1119 |
|  |  |  | 30149 |
| **Colorado — 1.8%** | **Colorado — 1.8%** | **Colorado — 1.8%** |  |
| &nbsp;&nbsp;&nbsp;Colorado State, Health Facilities Authority, Commonspirit Health, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2049 (A) |  | 1145 | 1178 |
| &nbsp;&nbsp;&nbsp;Colorado State, Health Facilities Authority, Commonspirit Health, Ser B-2, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2049 (A) |  | 2000 | 2082 |
| &nbsp;&nbsp;&nbsp;Colorado State, Health Facilities Authority, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2024  |  | 850 | 878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2025  |  | 350 | 367 |
| &nbsp;&nbsp;&nbsp;Colorado State, Housing & Finance Authority, Multi-Family Project, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.550%, 04/01/2023  |  | 4475 | 4458 |
| &nbsp;&nbsp;&nbsp;Denver City & County, Airport System Revenue Authority, Ser D, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2025  |  | 2000 | 2099 |
| &nbsp;&nbsp;&nbsp;E-470, Public Highway Authority, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.903%, 09/01/2039 (A) |  | 4500 | 4456 |
| &nbsp;&nbsp;&nbsp;Regional Transportation District, Denver Transit Partners Eagle P3 Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/15/2024  |  | 350 | 357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/15/2024  |  | 615 | 625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/15/2025  |  | 300 | 307 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/15/2025  |  | 440 | 453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 01/15/2026  |  | 405 | 395 |
| &nbsp;&nbsp;&nbsp;University of Colorado, Green Bonds, Ser C, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 06/01/2054 (A) |  | 3855 | 3773 |
|  |  |  | 21428 |
| **Connecticut — 2.8%** | **Connecticut — 2.8%** | **Connecticut — 2.8%** |  |
| &nbsp;&nbsp;&nbsp;Connecticut State, Health & Educational Facilities Authority, Stamford Hospital Issue, Ser L, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/2023  |  | 550 | 552 |
| &nbsp;&nbsp;&nbsp;Connecticut State, Health & Educational Facilities Authority, Yale University Issue, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.100%, 07/01/2048 (A) |  | 3000 | 2987 |
| &nbsp;&nbsp;&nbsp;Connecticut State, Health & Educational Facilities Authority, Yale University Issue, Ser 2017, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.550%, 07/01/2037 (A) |  | 2000 | 1965 |
| &nbsp;&nbsp;&nbsp;Connecticut State, Higher Education Supplement Loan Authority, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2023 (E) |  | 500 | 511 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Short Duration Municipal Fund** (Continued)

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Connecticut State, Housing Finance Authority, Housing Mortgage Finance Program, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.300%, 11/15/2024  | $| 500 | $473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.250%, 05/15/2024  |  | 750 | 719 |
| &nbsp;&nbsp;&nbsp;Connecticut State, Housing Finance Authority, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.650%, 11/15/2052 (A) |  | 7295 | 7321 |
| &nbsp;&nbsp;&nbsp;Connecticut State, Housing Finance Authority, Ser 25, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.700%, 06/15/2023  |  | 1315 | 1314 |
| &nbsp;&nbsp;&nbsp;Connecticut State, Housing Finance Authority, Ser A4, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.150%, 11/15/2050 (A) |  | 5500 | 5474 |
| &nbsp;&nbsp;&nbsp;Connecticut State, Ser 2021, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 01/15/2024  |  | 585 | 588 |
| &nbsp;&nbsp;&nbsp;Connecticut State, Ser D, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/15/2024  |  | 2250 | 2344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/15/2025  |  | 1500 | 1594 |
| &nbsp;&nbsp;&nbsp;Connecticut State, SIFMA Index Project, Ser A, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.840%, 03/01/2025 (A) |  | 1815 | 1836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.800%, 03/01/2024 (A) |  | 2155 | 2177 |
|  |  |  | 29855 |
| **Delaware — 0.4%** | **Delaware — 0.4%** | **Delaware — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;Delaware State, Economic Development Authority, Delmarva Power & Light Company Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.050%, 01/01/2031 (A) |  | 5100 | 4820 |
| **District of Columbia — 1.3%** | **District of Columbia — 1.3%** | **District of Columbia — 1.3%** |  |
| &nbsp;&nbsp;&nbsp;District of Columbia, Hospital Refunding, Childrens Hospital, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/15/2023  |  | 515 | 521 |
| &nbsp;&nbsp;&nbsp;District of Columbia, Housing Finance Agency, Parcel 42 Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.700%, 09/01/2041 (A) |  | 7160 | 6896 |
| &nbsp;&nbsp;&nbsp;District of Columbia, Housing Finance Agency, Park Southern Apartments Project, RB, FHA  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.700%, 06/01/2024 (A) |  | 2690 | 2654 |
| &nbsp;&nbsp;&nbsp;District of Columbia, Housing Finance Agency, Strand Residences Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 02/01/2039 (A) |  | 500 | 497 |
| &nbsp;&nbsp;&nbsp;Metropolitan Washington, Airports Authority, Ser A, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2023  |  | 5225 | 5303 |
|  |  |  | 15871 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| **Florida — 2.5%** | **Florida — 2.5%** |  |
| &nbsp;&nbsp;&nbsp;Capital Trust Agency, College Park Towers Apartments Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.250%, 05/01/2024 (A) | $1500 | $1489 |
| &nbsp;&nbsp;&nbsp;Florida State, Citizens Property Insurance, Coastal Account, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2025  | 5815 | 6045 |
| &nbsp;&nbsp;&nbsp;Gainesville, Utilities System Revenue Authority, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.400%, 10/01/2042 (A) | 11300 | 11300 |
| &nbsp;&nbsp;&nbsp;Jacksonville, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2023  | 625 | 637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2024  | 1500 | 1562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2025  | 1375 | 1460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2026  | 1250 | 1352 |
| &nbsp;&nbsp;&nbsp;Lee County, Airport Revenue, Ser A, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2024  | 815 | 839 |
| &nbsp;&nbsp;&nbsp;Miami-Dade County, Housing Finance Authority, Sunset Bay Apartments Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.250%, 12/01/2023 (A) | 1000 | 1000 |
| &nbsp;&nbsp;&nbsp;Miami-Dade County, Industrial Development Authority, Waste Management Project, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.225%, 11/01/2048 (A) | 500 | 480 |
| &nbsp;&nbsp;&nbsp;North Sumter County, Utility Dependent District, Sumter Water Conservation Authority, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/01/2023  | 640 | 647 |
| &nbsp;&nbsp;&nbsp;Palm Beach County, Educational Facilities Authority, Palm Beach Atlantic University, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/01/2024  | 225 | 226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/01/2025  | 235 | 236 |
| &nbsp;&nbsp;&nbsp;Tender Option Bond Trust Receipts, Ser 2022-XF3058, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.070%, 08/01/2039 (A)(B)(D) | 2000 | 2000 |
|  |  | 29273 |
| **Georgia — 4.6%** | **Georgia — 4.6%** |  |
| &nbsp;&nbsp;&nbsp;Bartow County, Development Authority, Georgia Power Plant, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.875%, 08/01/2043 (A) | 1800 | 1743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.750%, 12/01/2032 (A) | 2075 | 2071 |
| &nbsp;&nbsp;&nbsp;Burke County, Development Authority, Georgia Power Company Plant Vogtle Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.875%, 12/01/2049 (A) | 4000 | 3945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.250%, 10/01/2032 (A) | 1500 | 1489 |
| &nbsp;&nbsp;&nbsp;Cobb County, Kennestone Hospital Authority, Wellstar Health System, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2023  | 545 | 549 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Short Duration Municipal Fund** (Continued)

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;College Park, Business & Industrial Development Authority, Somersby Project, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.250%, 07/01/2025 (A) | $| 2125 | $2056 |
| &nbsp;&nbsp;&nbsp;Georgia State, Main Street Natural Gas, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2024  |  | 1100 | 1101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 03/01/2026  |  | 500 | 504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 09/01/2026  |  | 415 | 418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 04/01/2048 (A) |  | 6885 | 6911 |
| &nbsp;&nbsp;&nbsp;Georgia State, Main Street Natural Gas, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2025  |  | 650 | 665 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/2049 (A) |  | 7250 | 7297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.510%, 04/01/2048 (A) |  | 4150 | 4128 |
| &nbsp;&nbsp;&nbsp;Georgia State, Main Street Natural Gas, Ser C, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 05/01/2052 (A) |  | 1540 | 1505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/2052 (A)(D) |  | 1000 | 951 |
| &nbsp;&nbsp;&nbsp;Georgia State, Main Street Natural Gas, Ser E, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.420%, 08/01/2048 (A) |  | 1500 | 1485 |
| &nbsp;&nbsp;&nbsp;Georgia State, Main Street Natural Gas, Sub-Ser C, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/2048 (A) |  | 11025 | 11065 |
| &nbsp;&nbsp;&nbsp;Georgia State, Municipal Electric Authority, Project One, Sub-Ser, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2023  |  | 1000 | 1002 |
| &nbsp;&nbsp;&nbsp;Monroe County, Development Authority, Oglethorpe Power Company Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.500%, 01/01/2039 (A) |  | 750 | 704 |
|  |  |  | 49589 |
| **Guam — 0.1%** | **Guam — 0.1%** | **Guam — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;Guam, Power Authority, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2023  |  | 1000 | 1012 |
| **Idaho — 0.0%** | **Idaho — 0.0%** | **Idaho — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;Boise, Airport Revenue, Employee Parking Facilities Project, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 09/01/2024  |  | 200 | 202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 09/01/2025  |  | 410 | 416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 09/01/2026  |  | 425 | 431 |
|  |  |  | 1049 |
| **Illinois — 3.8%** | **Illinois — 3.8%** | **Illinois — 3.8%** |  |
| &nbsp;&nbsp;&nbsp;Chicago Heights, Olympic Village Apartments Project, RB, FHA/GNMA  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.875%, 08/01/2027 (A) |  | 2000 | 1952 |
| &nbsp;&nbsp;&nbsp;Chicago, O'Hare International Airport, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2023  |  | 875 | 877 |
| &nbsp;&nbsp;&nbsp;Chicago, Park District, Ser B, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2026  |  | 550 | 561 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Chicago, Ser 2002B-REMK, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2025  | $1000 | $1013 |
| &nbsp;&nbsp;&nbsp;Chicago, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2024  | 1900 | 1916 |
| &nbsp;&nbsp;&nbsp;Chicago, Ser C, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2024  | 1750 | 1765 |
| &nbsp;&nbsp;&nbsp;Chicago, Special Assessment Revenue, Lakeshore East Project, SAB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.990%, 12/01/2023 (D) | 280 | 273 |
| &nbsp;&nbsp;&nbsp;Chicago, Wastewater Transmission Revenue Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2023  | 30 | 30 |
| &nbsp;&nbsp;&nbsp;Cook County, High School District No. 207, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2022  | 1000 | 1000 |
| &nbsp;&nbsp;&nbsp;Cook County, School District No. 233 Homewood-Flossmoor, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2023  | 1540 | 1559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2024  | 1605 | 1635 |
| &nbsp;&nbsp;&nbsp;Cook County, School District No. 87 Berkeley, GO, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2024  | 500 | 522 |
| &nbsp;&nbsp;&nbsp;Geneva City, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 02/01/2026  | 400 | 412 |
| &nbsp;&nbsp;&nbsp;Granite City, Madison Waste Management, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.250%, 05/01/2027  | 4100 | 3557 |
| &nbsp;&nbsp;&nbsp;Illinois State, Finance Authority, Advocate Health Care, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 100  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2023 (F) | 600 | 607 |
| &nbsp;&nbsp;&nbsp;Illinois State, Finance Authority, Field Museum of Natural History, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.867%, 11/01/2034 (A) | 1970 | 1960 |
| &nbsp;&nbsp;&nbsp;Illinois State, Finance Authority, Health Care System Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2050 (A) | 1500 | 1539 |
| &nbsp;&nbsp;&nbsp;Illinois State, Finance Authority, University of Illinois Health Services, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2023  | 250 | 254 |
| &nbsp;&nbsp;&nbsp;Illinois State, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2023  | 420 | 424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2023  | 1075 | 1087 |
| &nbsp;&nbsp;&nbsp;Illinois State, Housing Development Authority, Homeowner Mortgage, Ser C, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.300%, 02/01/2026  | 1000 | 969 |
| &nbsp;&nbsp;&nbsp;Illinois State, Housing Development Authority, Marshall Field Garden Apartment Homes, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.850%, 05/15/2050 (A)(B) | 1000 | 1001 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Short Duration Municipal Fund** (Continued)

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Illinois State, Housing Development Authority, Ser H, RB, GNMA/FNMA/FHLMC  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.470%, 10/01/2053 (A) | $| 2000 | $2005 |
| &nbsp;&nbsp;&nbsp;Illinois State, Ser A, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2023  |  | 1000 | 1004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2024  |  | 2500 | 2547 |
| &nbsp;&nbsp;&nbsp;Illinois State, Ser B, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2023  |  | 1000 | 1007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2024  |  | 4250 | 4329 |
| &nbsp;&nbsp;&nbsp;Illinois State, Ser D, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2024  |  | 255 | 262 |
| &nbsp;&nbsp;&nbsp;Illinois State, Sports Facilities Authority, RB, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2027  |  | 1500 | 1536 |
| &nbsp;&nbsp;&nbsp;Illinois State, Toll Highway Authority, Ser C, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2029  |  | 45 | 47 |
| &nbsp;&nbsp;&nbsp;Joliet, Waterworks & Sewerage Revenue, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2024  |  | 1000 | 1016 |
| &nbsp;&nbsp;&nbsp;Kane, Cook & DuPage Counties, Community College District No. 509, Ser B, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/15/2022  |  | 200 | 200 |
| &nbsp;&nbsp;&nbsp;Peoria, Ser A, GO, BAM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 01/01/2023  |  | 750 | 751 |
| &nbsp;&nbsp;&nbsp;Railsplitter, Tobacco Settlement Authority, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2023  |  | 1270 | 1284 |
| &nbsp;&nbsp;&nbsp;Sales Tax Securitization, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2025  |  | 1000 | 1038 |
| &nbsp;&nbsp;&nbsp;Sangamon, Logan & Menard Counties, Community Unit School District No. 15, Ser B, GO, BAM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2023  |  | 200 | 204 |
| &nbsp;&nbsp;&nbsp;Waukegan, Water & Sewer System Revenue, RB, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/30/2022  |  | 225 | 225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/30/2023  |  | 250 | 253 |
| &nbsp;&nbsp;&nbsp;West Chicago, Park District, Ser B, GO, BAM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 12/01/2022  |  | 200 | 200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 12/01/2023  |  | 220 | 220 |
|  |  |  | 43041 |
| **Indiana — 3.1%** | **Indiana — 3.1%** | **Indiana — 3.1%** |  |
| &nbsp;&nbsp;&nbsp;Evansville & Vanderburgh County, Building Authority, Lease Rental Revenue, GO, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 01/15/2023  |  | 200 | 200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 07/15/2023  |  | 200 | 200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 01/15/2024  |  | 250 | 250 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Fort Wayne, Redevelopment Authority, Grand Wayne Center Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 02/01/2025  | $| 500 | $513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/2025  |  | 810 | 835 |
| &nbsp;&nbsp;&nbsp;Indiana State, Finance Authority, Indiana University Health, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.250%, 12/01/2058 (A) |  | 7150 | 7003 |
| &nbsp;&nbsp;&nbsp;Indiana State, Finance Authority, Indianapolis Power, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.950%, 12/01/2038 (A) |  | 2000 | 1746 |
| &nbsp;&nbsp;&nbsp;Indiana State, Housing & Community Development Authority, Bradford Lakes Apartments Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 04/01/2025 (A) |  | 3000 | 3038 |
| &nbsp;&nbsp;&nbsp;Indianapolis, Local Public Improvement Bond Bank, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2023  |  | 1400 | 1416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2025  |  | 650 | 682 |
| &nbsp;&nbsp;&nbsp;Indianapolis, Local Public Improvement Bond Bank, Ser D, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2026  |  | 750 | 762 |
| &nbsp;&nbsp;&nbsp;Indianapolis, Local Public Improvement Bond Bank, Ser E, RB, AMBAC  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 02/01/2025 (C) |  | 3000 | 2809 |
| &nbsp;&nbsp;&nbsp;Marion, High School Building, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 01/15/2023  |  | 230 | 230 |
| &nbsp;&nbsp;&nbsp;Rockport City, Indiana Pollution Control Revenue Bonds, Indiana Michigan Power Company Project, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.050%, 06/01/2025  |  | 10465 | 10492 |
| &nbsp;&nbsp;&nbsp;Whiting, Industry Environmental Facilities, BP Products North America Project, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2047 (A) |  | 4865 | 4941 |
|  |  |  | 35117 |
| **Kansas — 1.0%** | **Kansas — 1.0%** | **Kansas — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;Kansas State, Department of Transportation, Ser C, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.384%, 09/01/2024 (A) |  | 2500 | 2500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.284%, 09/01/2023 (A) |  | 7525 | 7529 |
| &nbsp;&nbsp;&nbsp;Kansas State, Development Finance Authority, University of Kansas Project, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2027  |  | 1215 | 1276 |
|  |  |  | 11305 |
| **Kentucky — 2.0%** | **Kentucky — 2.0%** | **Kentucky — 2.0%** |  |
| &nbsp;&nbsp;&nbsp;Kentucky State, Asset Liability Commission, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2024  |  | 2380 | 2482 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Short Duration Municipal Fund** (Continued)

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Kentucky State, Housing Corporation, Cambridge Square Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.300%, 08/01/2024 (A) | $| 1500 | $1445 |
| &nbsp;&nbsp;&nbsp;Kentucky State, Public Energy Authority, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2049 (A) |  | 7500 | 7454 |
| &nbsp;&nbsp;&nbsp;Kentucky State, Public Energy Authority, Ser C, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2022  |  | 2000 | 2000 |
| &nbsp;&nbsp;&nbsp;Louisville & Jefferson County, Metropolitan Government & Health System, Norton Healtcare, Inc., RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2047 (A) |  | 1000 | 1011 |
| &nbsp;&nbsp;&nbsp;Mercer County, Solid Waste Disposal Facility, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.300%, 05/01/2023  |  | 6000 | 5949 |
| &nbsp;&nbsp;&nbsp;Rural, Water Financing Agency, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.400%, 05/01/2023  |  | 2135 | 2109 |
|  |  |  | 22450 |
| **Louisiana — 2.4%** | **Louisiana — 2.4%** | **Louisiana — 2.4%** |  |
| &nbsp;&nbsp;&nbsp;Louisiana State, Gasoline & Fuels Tax Revenue, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.167%, 05/01/2043 (A) |  | 1985 | 1926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.600%, 05/01/2043 (A) |  | 4640 | 4579 |
| &nbsp;&nbsp;&nbsp;Louisiana State, Local Government Environmental Facilities & Community Development Authority, East Baton Rouge Sewerage, Sub-Ser, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.875%, 02/01/2046 (A) |  | 2000 | 1859 |
| &nbsp;&nbsp;&nbsp;Louisiana State, Local Government Environmental Facilities & Community Development Authority, Louisiana Insurance Guaranty Association Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2026  |  | 1300 | 1389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2027  |  | 1000 | 1083 |
| &nbsp;&nbsp;&nbsp;Louisiana State, Offshore Terminal Authority, Loop LLC Project, Ser 2007A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.650%, 09/01/2027 (A) |  | 1255 | 1236 |
| &nbsp;&nbsp;&nbsp;Louisiana State, Offshore Terminal Authority, Loop LLC Project, Ser 2013C, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.650%, 09/01/2034 (A) |  | 2060 | 2029 |
| &nbsp;&nbsp;&nbsp;Louisiana State, Stadium & Exposition District, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/03/2023  |  | 1500 | 1505 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;St. John the Baptist Parish, Marathon Oil Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.125%, 06/01/2037 (A) | $| 8000 | $7738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.100%, 06/01/2037 (A) |  | 3000 | 2901 |
|  |  |  | 26245 |
| **Maryland — 1.6%** | **Maryland — 1.6%** | **Maryland — 1.6%** |  |
| &nbsp;&nbsp;&nbsp;Maryland State, Community Development Administration, South Street Senior, LLC, Ser D, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.150%, 07/01/2024  |  | 2000 | 1961 |
| &nbsp;&nbsp;&nbsp;Maryland State, Community Development Administration, Woodside Gardens, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.330%, 01/01/2024 (D) |  | 4000 | 3874 |
| &nbsp;&nbsp;&nbsp;Maryland State, Health & Higher Educational Facilities Authority, University of Maryland Medical, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2045 (A) |  | 6250 | 6499 |
| &nbsp;&nbsp;&nbsp;Maryland State, Ser A-BID, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2025  |  | 3000 | 3187 |
| &nbsp;&nbsp;&nbsp;Montgomery County, Trinity Health Credit Group Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.580%, 12/01/2041 (A) |  | 2000 | 2000 |
|  |  |  | 17521 |
| **Massachusetts — 2.1%** | **Massachusetts — 2.1%** | **Massachusetts — 2.1%** |  |
| &nbsp;&nbsp;&nbsp;Boston, Housing Authority, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2023  |  | 350 | 357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2025  |  | 400 | 421 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Brandeis University, Ser S, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2023  |  | 2400 | 2445 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Partners Health Care System, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2027  |  | 2200 | 2311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.450%, 07/01/2049 (A)(D) |  | 6250 | 6187 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Salem Heights II Preservation Accociates, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.250%, 07/01/2024 (A) |  | 1000 | 982 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Springfield College, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2024  |  | 1015 | 1034 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Waste Management Project, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.250%, 05/01/2027 (D) |  | 2500 | 2169 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Wellforce, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2023  |  | 725 | 733 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Short Duration Municipal Fund** (Continued)

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Wellforce, Ser C, RB, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2027  | $| 435 | $469 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Educational Financing Authority, Ser B, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2024  |  | 575 | 591 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2025  |  | 850 | 882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2026  |  | 1000 | 1050 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Health & Educational Facilities Authority, Partners Health Care Project, Ser G, RB, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.300%, 07/01/2042 (A) |  | 1325 | 1325 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Housing Finance Agency, Sustainability Bonds, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.450%, 12/01/2024  |  | 1000 | 946 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Ser B, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2023  |  | 1270 | 1289 |
|  |  |  | 23191 |
| **Michigan — 2.1%** | **Michigan — 2.1%** | **Michigan — 2.1%** |  |
| &nbsp;&nbsp;&nbsp;Birmingham, School District, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 05/01/2025  |  | 1080 | 1086 |
| &nbsp;&nbsp;&nbsp;Carman-Ainsworth, Community Schools, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 05/01/2023  |  | 1225 | 1232 |
| &nbsp;&nbsp;&nbsp;Dearborn, School District, GO, BAM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 05/01/2024  |  | 970 | 972 |
| &nbsp;&nbsp;&nbsp;Detroit, Downtown Development Authority, Catalyst Development Project, Ser A, TA, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2023  |  | 585 | 592 |
| &nbsp;&nbsp;&nbsp;Michigan State, Finance Authority, Local Government Loan Program, RB, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2023  |  | 1335 | 1354 |
| &nbsp;&nbsp;&nbsp;Michigan State, Hospital Finance Authority, Ascension Health Care Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 11/15/2047 (A) |  | 3825 | 3836 |
| &nbsp;&nbsp;&nbsp;Michigan State, Housing Development Authority, Cambridge Square of Flint Apartments, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.500%, 11/01/2023 (A) |  | 3000 | 2979 |
| &nbsp;&nbsp;&nbsp;Michigan State, Housing Development Authority, Rental Housing, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.300%, 04/01/2026  |  | 6135 | 6117 |
| &nbsp;&nbsp;&nbsp;Saline, Area Schools, Ser III, GO, Q-SBLF  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2023  |  | 1035 | 1045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2024  |  | 1050 | 1083 |
| &nbsp;&nbsp;&nbsp;Tender Option Bond Trust Receipts, Ser 2021-XF1115, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.910%, 10/15/2051 (A)(D) |  | 300 | 300 |
| &nbsp;&nbsp;&nbsp;Wayne County, Airport Authority, Ser A, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2022  |  | 1000 | 1000 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Wayne County, Airport Authority, Ser F, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2027  | $| 1900 | $1983 |
|  |  |  | 23579 |
| **Minnesota — 0.7%** | **Minnesota — 0.7%** | **Minnesota — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;Central Minnesota, Municipal Power Agency, Southern Twin Cities Transmission Project, RB, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2024  |  | 285 | 292 |
| &nbsp;&nbsp;&nbsp;Minneapolis & St. Paul, Metropolitan Airports Commission, Sub-Ser B, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2023  |  | 400 | 401 |
| &nbsp;&nbsp;&nbsp;Minnesota State, Higher Education Facilities Authority, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2025  |  | 335 | 352 |
| &nbsp;&nbsp;&nbsp;Minnesota State, Housing Finance Agency, Ser C, AMT, RB, GNMA/FNMA/FHLMC  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.200%, 01/01/2027  |  | 575 | 523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.050%, 07/01/2026  |  | 1160 | 1061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.950%, 01/01/2026  |  | 1155 | 1069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.875%, 07/01/2025  |  | 1145 | 1072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.800%, 01/01/2025  |  | 570 | 540 |
| &nbsp;&nbsp;&nbsp;Minnesota State, Municipal Gas Agency, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2024  |  | 1500 | 1508 |
| &nbsp;&nbsp;&nbsp;Southern Minnesota, Municipal Power Agency, Ser A, RB, NATL  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 01/01/2025 (C) |  | 1400 | 1317 |
|  |  |  | 8135 |
| **Mississippi — 1.0%** | **Mississippi — 1.0%** | **Mississippi — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;Mississippi State, Business Finance, Coast Electric Power Project, Ser C, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875%, 05/01/2037 (A) |  | 5175 | 5189 |
| &nbsp;&nbsp;&nbsp;Mississippi, Development Bank Special Obligation, Mississippi Sales Tax Revenue Infrastructure Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2023  |  | 855 | 869 |
| &nbsp;&nbsp;&nbsp;Warren County, Mississippi Environmental Improvement Revenue, International Paper Co. Project, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.600%, 08/01/2027 (A) |  | 2000 | 1873 |
| &nbsp;&nbsp;&nbsp;Warren County, Mississippi Gulf Opportunity Zone Revenue, International Paper Co. Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.375%, 08/01/2027 (A) |  | 2500 | 2328 |
|  |  |  | 10259 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Short Duration Municipal Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| **Missouri — 1.4%** | **Missouri — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;Centeral Southwest Missouri, Ozarks Technical Community College, COP  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2024  | $215 | $221 |
| &nbsp;&nbsp;&nbsp;Missouri State, Environmental Improvement & Energy Resources Authority, Kansas City Power & Light Company Project, Ser R, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 05/01/2038 (A) | 9650 | 9572 |
| &nbsp;&nbsp;&nbsp;Missouri State, Health & Educational Facilities Authority, Saint Lukes Health System, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2026  | 510 | 542 |
| &nbsp;&nbsp;&nbsp;Missouri State, Public Utilities Commission, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.750%, 08/01/2023  | 5000 | 4907 |
|  |  | 15242 |
| **Nebraska — 0.6%** | **Nebraska — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;Gretna, COP  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/15/2025  | 2000 | 2081 |
| &nbsp;&nbsp;&nbsp;Nebraska State, Public Power District, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.600%, 01/01/2051 (A) | 4200 | 4142 |
|  |  | 6223 |
| **New Jersey — 6.7%** | **New Jersey — 6.7%** |  |
| &nbsp;&nbsp;&nbsp;Bayonne, GO, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 07/01/2023 (C) | 1000 | 984 |
| &nbsp;&nbsp;&nbsp;Gloucester County, Improvement Authority, Rowan University Student Center Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.600%, 03/01/2024  | 500 | 479 |
| &nbsp;&nbsp;&nbsp;Hopewell, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 09/27/2023  | 8805 | 8918 |
| &nbsp;&nbsp;&nbsp;New Jersey State, COVID-19 Emergency Bonds, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 06/01/2023  | 1000 | 1007 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Economic Development Authority, American Water Company, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.150%, 06/01/2023  | 1000 | 989 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Economic Development Authority, American Water Company, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.000%, 06/01/2023  | 1300 | 1284 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Economic Development Authority, Municipal Rehabilitation, Ser S, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 04/01/2026 (A) | 3500 | 3735 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 04/01/2027 (A) | 3320 | 3598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2023  | 455 | 460 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;New Jersey State, Economic Development Authority, Portal North Bridge Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2023  | $760 | $775 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Economic Development Authority, School Facilities Construction Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2025  | 1590 | 1598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.100%, 09/01/2025 (A) | 1050 | 1053 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Economic Development Authority, School Facilities Construction Project, Ser GGG, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 09/01/2023 (D) | 3500 | 3563 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Economic Development Authority, Transit Corp. Project, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2024  | 14780 | 15324 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Higher Education Student Assistance Authority, Ser B, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2025  | 2850 | 2965 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Housing & Mortgage Finance Agency, New Brunswick Apartments, Ser C2, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.125%, 02/01/2025 (A) | 5620 | 5561 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Transportation Trust Fund Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/15/2024  | 3000 | 3117 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Transportation Trust Fund Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2025  | 2000 | 2021 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Transportation Trust Fund Authority, Ser A, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 12/15/2022  | 1000 | 1001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 12/15/2023  | 1345 | 1378 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Transportation Trust Fund Authority, Ser D, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/15/2023  | 500 | 511 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Turnpike Authority, Ser C, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.484%, 01/01/2023 (A) | 2665 | 2665 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Turnpike Authority, Ser D1, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.584%, 01/01/2024 (A) | 1550 | 1556 |
| &nbsp;&nbsp;&nbsp;Newark, Board of Education, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/15/2024  | 600 | 620 |
| &nbsp;&nbsp;&nbsp;Newark, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 07/15/2024  | 1000 | 1036 |
| &nbsp;&nbsp;&nbsp;Newark, Ser A, GO, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2024  | 1500 | 1556 |
| &nbsp;&nbsp;&nbsp;Newark, Ser B, GO, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2024  | 1060 | 1099 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Short Duration Municipal Fund** (Continued)

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Newark, Ser D, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 09/29/2023  | $| 1500 | $1508 |
| &nbsp;&nbsp;&nbsp;Passaic, Ser A, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2024  |  | 695 | 719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2025  |  | 700 | 737 |
| &nbsp;&nbsp;&nbsp;Tobacco Settlement Financing, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2023  |  | 1250 | 1261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2024  |  | 3000 | 3078 |
|  |  |  | 76156 |
| **New Mexico — 0.1%** | **New Mexico — 0.1%** | **New Mexico — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;Santa Fe, Public School District, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/2024  |  | 600 | 613 |
| **New York — 12.8%** | **New York — 12.8%** | **New York — 12.8%** |  |
| &nbsp;&nbsp;&nbsp;Amherst, Industrial Development Agency, RB, FHA/GNMA  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.900%, 04/01/2026 (A) |  | 3535 | 3569 |
| &nbsp;&nbsp;&nbsp;Canastota, Central School District, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 06/28/2023  |  | 1100 | 1107 |
| &nbsp;&nbsp;&nbsp;Connetquot, Central School District of Islip, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 06/28/2023  |  | 17975 | 18079 |
| &nbsp;&nbsp;&nbsp;Deutsche Bank Spears, Tender Option Bond Trust Receipts, Ser DBE-8063, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.250%, 10/01/2045 (A)(B)(D) |  | 1945 | 1945 |
| &nbsp;&nbsp;&nbsp;Greater Southern Tier, Board of Cooperative Educational Services District, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 06/30/2023  |  | 10655 | 10696 |
| &nbsp;&nbsp;&nbsp;Kenmore-Tonawanda, Union Free School District, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 06/28/2023  |  | 3855 | 3877 |
| &nbsp;&nbsp;&nbsp;Long Island, Power Authority, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.634%, 05/01/2033 (A) |  | 250 | 250 |
| &nbsp;&nbsp;&nbsp;Long Island, Power Authority, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2024  |  | 1245 | 1294 |
| &nbsp;&nbsp;&nbsp;Long Island, Power Authority, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.650%, 09/01/2049 (A) |  | 2945 | 2844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.850%, 09/01/2050 (A) |  | 2000 | 1822 |
| &nbsp;&nbsp;&nbsp;Metropolitan New York, Transportation Authority, Ser 2012G, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.300%, 11/01/2032 (A)(B) |  | 7200 | 7200 |
| &nbsp;&nbsp;&nbsp;Metropolitan New York, Transportation Authority, Ser A, RB, BAN  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2023  |  | 2100 | 2106 |
| &nbsp;&nbsp;&nbsp;Metropolitan New York, Transportation Authority, Ser D, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.883%, 11/01/2035 (A) |  | 2700 | 2634 |
| &nbsp;&nbsp;&nbsp;Metropolitan New York, Transportation Authority, Sub-Ser, RB, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.109%, 11/01/2032 (A) |  | 1000 | 982 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Monroe County, Industrial Development, Rochester Regional Health Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2022  | $400 | $400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2023  | 400 | 406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2024  | 550 | 566 |
| &nbsp;&nbsp;&nbsp;New York & New Jersey, Port Authority, Ser 226, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/15/2025  | 2000 | 2089 |
| &nbsp;&nbsp;&nbsp;New York City, Health & Hospitals, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/15/2024  | 740 | 760 |
| &nbsp;&nbsp;&nbsp;New York City, Housing Development Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.100%, 11/01/2059 (A) | 12500 | 12101 |
| &nbsp;&nbsp;&nbsp;New York City, Housing Development Authority, RB, FHA  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.600%, 05/01/2061 (A) | 3000 | 2766 |
| &nbsp;&nbsp;&nbsp;New York City, Housing Development Authority, Ser S, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.100%, 11/01/2058 (A) | 440 | 438 |
| &nbsp;&nbsp;&nbsp;New York City, Industrial Development Agency, Sustainability Bonds, Queens Baseball Stadium Project, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2024  | 750 | 766 |
| &nbsp;&nbsp;&nbsp;New York City, Ser 3-REM, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.050%, 04/01/2042 (A) | 1500 | 1500 |
| &nbsp;&nbsp;&nbsp;New York City, Ser C, GO, AGC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.690%, 10/01/2027 (A) | 4275 | 4275 |
| &nbsp;&nbsp;&nbsp;New York City, Sub-Ser A-4, GO, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.650%, 08/01/2026 (A) | 1450 | 1450 |
| &nbsp;&nbsp;&nbsp;New York City, Water & Sewer System, Sub-Ser, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.050%, 06/15/2033 (A) | 1000 | 1000 |
| &nbsp;&nbsp;&nbsp;New York State, Dormitory Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2024  | 4645 | 4847 |
| &nbsp;&nbsp;&nbsp;New York State, Dormitory Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2024  | 1025 | 1063 |
| &nbsp;&nbsp;&nbsp;New York State, Housing Finance Agency, Sustainability Bonds, Ser E, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.950%, 05/01/2025  | 2110 | 1955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.850%, 11/01/2024  | 3890 | 3676 |
| &nbsp;&nbsp;&nbsp;New York State, Housing Finance Agency, Sustainability Bonds, Ser J, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.750%, 05/01/2025  | 3500 | 3278 |
| &nbsp;&nbsp;&nbsp;New York State, Housing Finance Agency, Sustainability Bonds, Ser P, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.600%, 11/01/2024  | 5000 | 4824 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Short Duration Municipal Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;New York State, Transportation Development, Terminal 4 JFK International Airport, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2022  | $250 | $250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2023  | 1215 | 1232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2026  | 1000 | 1037 |
| &nbsp;&nbsp;&nbsp;New York State, Transportation Development, Terminal 4 JFK International Airport, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2023  | 1800 | 1833 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2024  | 900 | 932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2025  | 800 | 839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2026  | 1000 | 1041 |
| &nbsp;&nbsp;&nbsp;New York State, Urban Development, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 100  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/15/2023 (F) | 1370 | 1380 |
| &nbsp;&nbsp;&nbsp;Nuveen, New York AMT-Free Quality Municipal Income Fund, Tax Exempt  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.300%, 05/01/2047 (A)(D) | 4000 | 4000 |
| &nbsp;&nbsp;&nbsp;Onondaga County, Industrial Development Agency, Baldwinsville Senior Housing Preservation Project, Ser Senior HSG, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2024 (A) | 5950 | 5983 |
| &nbsp;&nbsp;&nbsp;Oyster Bay, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 03/09/2023  | 4000 | 4007 |
| &nbsp;&nbsp;&nbsp;South Huntington, Union Free School District, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 06/28/2023  | 2345 | 2359 |
| &nbsp;&nbsp;&nbsp;Tender Option Bond Trust Receipts, Ser 2021-XF1125, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.910%, 05/15/2051 (A)(D) | 200 | 200 |
| &nbsp;&nbsp;&nbsp;Tender Option Bond Trust Receipts, Ser 2021-XG0321, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.910%, 03/15/2048 (A)(D) | 1503 | 1503 |
| &nbsp;&nbsp;&nbsp;Triborough, Bridge & Tunnel Authority, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2024  | 5 | 5 |
| &nbsp;&nbsp;&nbsp;Triborough, Bridge & Tunnel Authority, Sub-Ser, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2050 (A) | 3000 | 3181 |
| &nbsp;&nbsp;&nbsp;Utility Debt Securitization Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2026  | 525 | 544 |
| &nbsp;&nbsp;&nbsp;Yonkers, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2023  | 1000 | 1018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 02/15/2023  | 265 | 266 |
| &nbsp;&nbsp;&nbsp;Yonkers, Ser A, GO, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2024  | 565 | 588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2025  | 750 | 794 |
| &nbsp;&nbsp;&nbsp;Yonkers, Ser B, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 02/15/2023  | 280 | 281 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Yonkers, Ser B, GO, BAM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/15/2023  | $| 690 | $704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/15/2024  |  | 500 | 521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/15/2025  |  | 500 | 530 |
|  |  |  | 141593 |
| **North Carolina — 2.1%** | **North Carolina — 2.1%** | **North Carolina — 2.1%** |  |
| &nbsp;&nbsp;&nbsp;Charlotte-Mecklenburg, Hospital Authority, Ser E, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.800%, 01/15/2048 (A) |  | 1000 | 940 |
| &nbsp;&nbsp;&nbsp;Columbus County, Industrial Facilities & Pollution Control Financing Authority, Internal Paper Company Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.375%, 05/01/2034 (A) |  | 1000 | 931 |
| &nbsp;&nbsp;&nbsp;North Carolina State, Housing Finance Agency, Ser 47, RB, GNMA/FNMA/FHLMC  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.250%, 01/01/2024  |  | 1930 | 1874 |
| &nbsp;&nbsp;&nbsp;North Carolina State, Turnpike Authority, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2024  |  | 18625 | 19064 |
|  |  |  | 22809 |
| **North Dakota — 0.2%** | **North Dakota — 0.2%** | **North Dakota — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;Cass County, Joint Water Resource District, Ser A, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.480%, 05/01/2024  |  | 1000 | 951 |
| &nbsp;&nbsp;&nbsp;Larimore, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.850%, 05/01/2024  |  | 1700 | 1622 |
|  |  |  | 2573 |
| **Ohio — 3.4%** | **Ohio — 3.4%** | **Ohio — 3.4%** |  |
| &nbsp;&nbsp;&nbsp;Allen County, Hospital Facilities Revenue, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2049 (A) |  | 3500 | 3789 |
| &nbsp;&nbsp;&nbsp;American Municipal Power, Columbus Pioneer Village, BAN  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.250%, 12/01/2022  |  | 315 | 315 |
| &nbsp;&nbsp;&nbsp;American Municipal Power, Combined Hydroelectric Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/15/2023  |  | 1000 | 1005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.000%, 02/15/2048 (A) |  | 1465 | 1404 |
| &nbsp;&nbsp;&nbsp;American Municipal Power, Freemont Energy Center Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/15/2023  |  | 500 | 502 |
| &nbsp;&nbsp;&nbsp;American Municipal Power, Prairie State Energy Campus, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/15/2024  |  | 980 | 1006 |
| &nbsp;&nbsp;&nbsp;American Municipal Power, Wapakoneta Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 06/22/2023  |  | 1000 | 1002 |
| &nbsp;&nbsp;&nbsp;Cleveland, Airport System Revenue, Ser A, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2025  |  | 910 | 938 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Short Duration Municipal Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Coshocton County, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.875%, 07/07/2023  | $1000 | $998 |
| &nbsp;&nbsp;&nbsp;Dayton, School District, COP  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 12/01/2025  | 170 | 170 |
| &nbsp;&nbsp;&nbsp;Fairview Park, City School District, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 12/01/2022 (C) | 515 | 515 |
| &nbsp;&nbsp;&nbsp;Lancaster, Port Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2049 (A) | 3700 | 3790 |
| &nbsp;&nbsp;&nbsp;Lorain County, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 05/03/2023  | 1455 | 1453 |
| &nbsp;&nbsp;&nbsp;Newark, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 09/26/2023  | 1000 | 1007 |
| &nbsp;&nbsp;&nbsp;Ohio State, Air Quality Development Authority, American Electric Company, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.100%, 12/01/2027 (A) | 3000 | 2888 |
| &nbsp;&nbsp;&nbsp;Ohio State, Air Quality Development Authority, Duke Energy, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 11/01/2039 (A) | 1500 | 1492 |
| &nbsp;&nbsp;&nbsp;Ohio State, Cleveland Clinic Health System Obligated Group, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.250%, 01/01/2052 (A) | 3000 | 3000 |
| &nbsp;&nbsp;&nbsp;Ohio State, Higher Educational Facility Commission, Xavier University Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2023  | 390 | 394 |
| &nbsp;&nbsp;&nbsp;Ohio State, Housing Finance Agency, Post Oak Station, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.350%, 07/01/2025 (A) | 2865 | 2847 |
| &nbsp;&nbsp;&nbsp;Ohio State, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2024  | 600 | 622 |
| &nbsp;&nbsp;&nbsp;Ohio State, University Hospital Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/15/2023  | 200 | 201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/15/2024  | 200 | 205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.200%, 01/15/2049 (A) | 1500 | 1500 |
| &nbsp;&nbsp;&nbsp;Ohio State, University Hospital Project, Ser D, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/15/2039 (A) | 1275 | 1298 |
| &nbsp;&nbsp;&nbsp;Port of Greater Cincinnati, Development Authority, Convention Center Hotel Acquisition & Demolition Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 05/01/2023  | 5000 | 4978 |
| &nbsp;&nbsp;&nbsp;Sandusky, Ohio Justice Center Construction, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/07/2023  | 1000 | 1009 |
|  |  | 38328 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| **Oklahoma — 0.9%** | **Oklahoma — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;Oklahoma State, Development Finance Authority, Gilcrease Expressway West Project, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.625%, 07/06/2023  | $3340 | $3282 |
| &nbsp;&nbsp;&nbsp;Oklahoma State, Development Finance Authority, Integris Obligated Group, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.400%, 08/15/2031 (A) | 800 | 800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.320%, 08/15/2031 (A) | 2110 | 2110 |
| &nbsp;&nbsp;&nbsp;Osage County, Industrial Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 09/01/2023  | 2000 | 1976 |
| &nbsp;&nbsp;&nbsp;Tender Option Bond Trust Receipts, Ser 2020-XF2884, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.890%, 09/01/2045 (A)(B)(D) | 1365 | 1365 |
|  |  | 9533 |
| **Oregon — 0.9%** | **Oregon — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;Deschutes & Jefferson Counties, School District, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 06/15/2024 (C) | 470 | 449 |
| &nbsp;&nbsp;&nbsp;Gilliam County, Solid Waste Disposal, Waste Management Project, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 08/01/2025 (A) | 4400 | 4394 |
| &nbsp;&nbsp;&nbsp;Marion & Polk County, Salem-Keizer School District No. 24J, Ser B, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 06/15/2025 (C) | 1655 | 1536 |
| &nbsp;&nbsp;&nbsp;Oregon State, Business Development Commission, Intel Corporation Project, Ser 232-RE, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.400%, 12/01/2040 (A) | 4000 | 3970 |
| &nbsp;&nbsp;&nbsp;Port of Morrow, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 06/01/2023  | 300 | 302 |
| &nbsp;&nbsp;&nbsp;Port of Portland, Airport Revenue, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2023  | 275 | 279 |
| &nbsp;&nbsp;&nbsp;Salem Hospital, Facility Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2025  | 130 | 130 |
|  |  | 11060 |
| **Pennsylvania — 5.3%** | **Pennsylvania — 5.3%** |  |
| &nbsp;&nbsp;&nbsp;Allegheny County, Hospital Development Authority, University of Pittsburgh Medical Center, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/15/2023  | 1315 | 1333 |
| &nbsp;&nbsp;&nbsp;Allegheny County, Hospital Development Authority, University of Pittsburgh Medical Center, Ser D2-B-REMK, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.270%, 11/15/2024 (A) | 1000 | 991 |
| &nbsp;&nbsp;&nbsp;Allegheny County, Hospital Development Authority, University of Pittsburgh Medical Center, Ser Senior D2-E-REMK, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.600%, 11/15/2047 (A) | 3000 | 2918 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Short Duration Municipal Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Bethlehem, School District Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.909%, 07/01/2031 (A) | $965 | $933 |
| &nbsp;&nbsp;&nbsp;Central Bradford, Progress Authority, Guthrie Clinic Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.420%, 12/01/2041 (A) | 1165 | 1165 |
| &nbsp;&nbsp;&nbsp;Kiski, School District, GO, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2024  | 550 | 566 |
| &nbsp;&nbsp;&nbsp;Lackawanna County, Industrial Development Authority, Scranton University, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2024  | 250 | 259 |
| &nbsp;&nbsp;&nbsp;Lehigh County, General Purpose Authority, Lehigh Valley Academy, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 06/01/2024  | 600 | 604 |
| &nbsp;&nbsp;&nbsp;Lehigh County, Industrial Development Authority, PPL Electric Utilities, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.625%, 02/15/2027  | 1000 | 965 |
| &nbsp;&nbsp;&nbsp;New Hampshire State, Health & Education Facilities Authority Act, Elliot Hospital, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 11/01/2035 (A) | 1000 | 1000 |
| &nbsp;&nbsp;&nbsp;Parkland, School District, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 02/01/2025  | 100 | 103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 02/01/2023  | 200 | 200 |
| &nbsp;&nbsp;&nbsp;Pennsbury, School District, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/2024  | 1260 | 1287 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Economic Development Financing Authority, PPL Electric Utilities, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.400%, 10/01/2023  | 1700 | 1651 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Economic Development Financing Authority, Republic Services Project, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.600%, 06/01/2044 (A) | 1750 | 1750 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Economic Development Financing Authority, Waste Management Project, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.250%, 06/01/2041 (A) | 500 | 481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.750%, 08/01/2038 (A) | 7250 | 6945 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2024  | 2750 | 2871 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Higher Educational Facilities Authority, Abington Memorial Hospital Obligation Group, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2023  | 6140 | 6216 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Housing Finance Agency, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.500%, 07/01/2024 (A) | 4000 | 3960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.250%, 02/01/2025 (A) | 4000 | 3904 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Housing Finance Agency, Ser 120, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.350%, 04/01/2027  | 1295 | 1230 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Turnpike Commission, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.810%, 12/01/2039 (A)(B) | $| 700 | $700 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Turnpike Commission, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2024  |  | 1535 | 1575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2025  |  | 820 | 843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.450%, 12/01/2023 (A) |  | 2500 | 2500 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Turnpike Commission, Ser A, RB, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 07/15/2025  |  | 1000 | 1066 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Turnpike Commission, Ser A-2, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2024  |  | 35 | 37 |
| &nbsp;&nbsp;&nbsp;Philadelphia, Airport Revenue, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2024  |  | 1470 | 1518 |
| &nbsp;&nbsp;&nbsp;Philadelphia, School District, Ser 2020, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2023  |  | 3000 | 3053 |
| &nbsp;&nbsp;&nbsp;Pittsburgh, Water & Sewer Authority, Ser C, RB, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 09/01/2040 (A) |  | 2000 | 1998 |
| &nbsp;&nbsp;&nbsp;Southcentral Pennsylvania, General Authority, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2023  |  | 135 | 136 |
| &nbsp;&nbsp;&nbsp;Tender Option Bond Trust Receipts, Ser 2020-XF2885, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.890%, 09/01/2037 (A)(B)(D) |  | 1250 | 1250 |
| &nbsp;&nbsp;&nbsp;University of Pittsburgh, Commonwealth System of Higher Education, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.210%, 02/15/2024 (A) |  | 2850 | 2849 |
| &nbsp;&nbsp;&nbsp;Wilkes-Barre, Finance Authority, University of Scranton, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2024  |  | 475 | 492 |
|  |  |  | 59349 |
| **Puerto Rico — 0.0%** | **Puerto Rico — 0.0%** | **Puerto Rico — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;Puerto Rico, Industrial Tourist Educational Medical & Enviromental Control Facilities Financing Authority, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2024  |  | 140 | 144 |
| **Rhode Island — 0.5%** | **Rhode Island — 0.5%** | **Rhode Island — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;Rhode Island State, Health & Educational Building, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 05/15/2023  |  | 2000 | 2015 |
| &nbsp;&nbsp;&nbsp;Rhode Island State, Housing & Mortgage Finance, Ser S, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.450%, 10/01/2040 (A) |  | 750 | 730 |
| &nbsp;&nbsp;&nbsp;Rhode Island State, Student Loan Authority, Ser A, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2023  |  | 2475 | 2478 |
|  |  |  | 5223 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Short Duration Municipal Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| **South Carolina — 0.5%** | **South Carolina — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;South Carolina, Ports Authority, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2024  | $525 | $540 |
| &nbsp;&nbsp;&nbsp;Tender Option Bond Trust Receipts, Ser 2022-XG0419, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.970%, 12/01/2052 (A)(D) | 5000 | 5000 |
|  |  | 5540 |
| **Tennessee — 0.4%** | **Tennessee — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;Greeneville, Health & Educational Facilities Board, Ballad Health Obligation Group, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2024  | 1000 | 1012 |
| &nbsp;&nbsp;&nbsp;Knox County, Health Educational & Housing Facility Board, Westview Towers Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.950%, 12/01/2027 (A) | 500 | 503 |
| &nbsp;&nbsp;&nbsp;Tennergy, Gas Revenue, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 12/01/2027  | 750 | 781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 12/01/2026  | 700 | 720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 09/01/2024  | 500 | 503 |
| &nbsp;&nbsp;&nbsp;Tennessee State, Energy Acquisition, Gas Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 05/01/2048 (A) | 785 | 786 |
|  |  | 4305 |
| **Texas — 10.0%** | **Texas — 10.0%** |  |
| &nbsp;&nbsp;&nbsp;Alvin, Independent School District, Ser B, GO, PSF-GTD  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.450%, 02/15/2036 (A) | 2000 | 1971 |
| &nbsp;&nbsp;&nbsp;Arlington, Housing Finance, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 11/01/2043 (A) | 11000 | 11017 |
| &nbsp;&nbsp;&nbsp;Beaumont, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2024  | 265 | 273 |
| &nbsp;&nbsp;&nbsp;Cameron County, Housing Finance, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 12/01/2024 (A) | 1000 | 999 |
| &nbsp;&nbsp;&nbsp;Central Texas, Regional Mobility Authority, Ser F, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2025  | 1500 | 1538 |
| &nbsp;&nbsp;&nbsp;Clear Creek, Independent School District, GO, PSF-GTD  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.280%, 02/15/2038 (A) | 1000 | 943 |
| &nbsp;&nbsp;&nbsp;Clifton, Higher Education Finance, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2024  | 350 | 360 |
| &nbsp;&nbsp;&nbsp;Coastal Bend, Health Facilities, Ser B, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.700%, 07/01/2031 (A) | 2125 | 2125 |
| &nbsp;&nbsp;&nbsp;Cypress-Fairbanks, Independent School District, Ser B, GO, PSF-GTD  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.280%, 02/15/2040 (A) | 1435 | 1373 |
| &nbsp;&nbsp;&nbsp;Dallas, Hotel Occupancy Tax Revenue, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2024  | 505 | 522 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Dallas-Fort Worth, International Airport Revenue, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2024  | $1500 | $1559 |
| &nbsp;&nbsp;&nbsp;Dallas-Fort Worth, International Airport Revenue, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2024  | 1000 | 1040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2026  | 1250 | 1348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2027  | 1750 | 1911 |
| &nbsp;&nbsp;&nbsp;Denton, Independent School District, GO, PSF-GTD  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 08/01/2043 (A) | 1985 | 1977 |
| &nbsp;&nbsp;&nbsp;East Downtown, Redevelopment Authority, TA  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2023  | 390 | 396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2025  | 295 | 307 |
| &nbsp;&nbsp;&nbsp;Fort Bend, Independent School District, Ser B, GO, PSF-GTD  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.875%, 08/01/2050 (A) | 780 | 724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.720%, 08/01/2051 (A) | 860 | 771 |
| &nbsp;&nbsp;&nbsp;Galveston, Public Facility, The Oleanders at Broadway, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.470%, 08/01/2025 (A) | 1500 | 1419 |
| &nbsp;&nbsp;&nbsp;Georgetown, Independent School District, Ser B-REMK, GO, PSF-GTD  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 08/01/2044 (A) | 1280 | 1276 |
| &nbsp;&nbsp;&nbsp;Hale Center, Education Facilities, Wayland Baptist University Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2023  | 455 | 457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2024  | 850 | 866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2025  | 450 | 462 |
| &nbsp;&nbsp;&nbsp;Harlandale, Independent School District, GO, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 08/15/2040 (A) | 3135 | 3086 |
| &nbsp;&nbsp;&nbsp;Harris County, Cultural Education Facilities Finance, Memorial Hermann Health System, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2032 (A) | 1625 | 1684 |
| &nbsp;&nbsp;&nbsp;Harris County, Cultural Education Facilities Finance, Texas Medical Center, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.900%, 05/15/2050 (A) | 1000 | 924 |
| &nbsp;&nbsp;&nbsp;Harris County, Health Facilities Development, Christus Health Project, Ser A, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.650%, 07/01/2031 (A) | 2800 | 2800 |
| &nbsp;&nbsp;&nbsp;Housing Synergy PFC, Multifamily Housing, Villages of Westlake Apartments, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 08/01/2025 (A) | 1753 | 1753 |
| &nbsp;&nbsp;&nbsp;Houston, Airport System Revenue, Ser D, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2023  | 1500 | 1520 |
| &nbsp;&nbsp;&nbsp;Houston, Independent School District, GO, PSF-GTD  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 06/01/2039 (A) | 9590 | 9486 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Short Duration Municipal Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Irving, Hospital Authority, Baylor Scott & White Medical Center, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.950%, 10/15/2044 (A) | $1275 | $1275 |
| &nbsp;&nbsp;&nbsp;Katy, Independent School District, GO, PSF-GTD  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.500%, 08/15/2050 (A) | 1000 | 975 |
| &nbsp;&nbsp;&nbsp;Kilgore, Independent School District, GO, PSF-GTD  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 02/15/2052 (A) | 2190 | 2111 |
| &nbsp;&nbsp;&nbsp;Midland County, Public Facility, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.350%, 06/01/2024 (A) | 1000 | 985 |
| &nbsp;&nbsp;&nbsp;Midlothian, Independent School District, Ser C, GO, PSF-GTD  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 08/01/2051 (A) | 2000 | 1954 |
| &nbsp;&nbsp;&nbsp;New Caney, Independent School District, GO, PSF-GTD  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.250%, 02/15/2050 (A) | 1305 | 1260 |
| &nbsp;&nbsp;&nbsp;North Hays County, Municipal Utility District No. 1, GO, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 08/15/2023  | 315 | 316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 08/15/2024  | 325 | 326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 08/15/2025  | 335 | 335 |
| &nbsp;&nbsp;&nbsp;North Texas, Tollway Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2023  | 185 | 185 |
| &nbsp;&nbsp;&nbsp;North Texas, Tollway Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2026  | 1450 | 1484 |
| &nbsp;&nbsp;&nbsp;North Texas, Tollway Authority, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2025  | 2205 | 2209 |
| &nbsp;&nbsp;&nbsp;Odessa, Housing Finance, Vera Odessa Apartment Project, RB, FHA  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.350%, 09/01/2023 (A) | 1500 | 1489 |
| &nbsp;&nbsp;&nbsp;Odessa, Junior College District, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/2024  | 325 | 331 |
| &nbsp;&nbsp;&nbsp;Port Arthur, Port Authority, RB, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/15/2026  | 200 | 213 |
| &nbsp;&nbsp;&nbsp;Prosper, Independent School District, GO, PSF-GTD  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 02/15/2053 (A) | 3045 | 3033 |
| &nbsp;&nbsp;&nbsp;San Antonio, Electric & Gas Systems Revenue, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.370%, 02/01/2048 (A) | 2500 | 2500 |
| &nbsp;&nbsp;&nbsp;San Antonio, Electric & Gas Systems Revenue, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.750%, 02/01/2033 (A) | 8705 | 8473 |
| &nbsp;&nbsp;&nbsp;San Antonio, Housing Trust Finance, Echo East Apartments, Ser A, RB, FNMA  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.500%, 05/01/2024  | 1190 | 1152 |
| &nbsp;&nbsp;&nbsp;San Antonio, Water System, Ser 2013F-REMK, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.000%, 05/01/2043 (A) | 1120 | 995 |
| &nbsp;&nbsp;&nbsp;San Antonio, Water System, Ser B-REM, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 05/01/2044 (A) | 6850 | 6819 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;San Antonio, Water System, Ser Junior A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.625%, 05/01/2049 (A) | $| 1900 | $1896 |
| &nbsp;&nbsp;&nbsp;Tarrant County, Cultural Education Facilities Finance, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2052 (A) |  | 1000 | 1057 |
| &nbsp;&nbsp;&nbsp;Tender Option Bond Trust Receipts, Ser 2021-MS0002, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.150%, 06/15/2056 (A)(B)(D) |  | 5000 | 5000 |
| &nbsp;&nbsp;&nbsp;Tender Option Bond Trust Receipts, Ser 2021-XF1109, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.150%, 07/01/2061 (A)(D) |  | 1000 | 1000 |
| &nbsp;&nbsp;&nbsp;Texas State, Department of Housing & Community Affairs, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.700%, 08/01/2040 (A) |  | 1830 | 1792 |
| &nbsp;&nbsp;&nbsp;Texas State, Municipal Gas Acquisition & Supply I, Ser Senior B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.906%, 12/15/2026 (A) |  | 1405 | 1378 |
| &nbsp;&nbsp;&nbsp;Texas State, Municipal Gas Acquisition & Supply II, Ser C, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.863%, 09/15/2027 (A) |  | 3060 | 2918 |
| &nbsp;&nbsp;&nbsp;Texas State, Municipal Gas Acquisition & Supply III, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/15/2022  |  | 1800 | 1801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/15/2023  |  | 500 | 506 |
| &nbsp;&nbsp;&nbsp;Texas State, Municipal Power Agency, RB, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 09/01/2023  |  | 1400 | 1403 |
| &nbsp;&nbsp;&nbsp;Williamson County, Municipal Utility District No. 19a, Ser A, GO, BAM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 08/15/2023  |  | 235 | 238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 08/15/2024  |  | 245 | 252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 08/15/2025  |  | 250 | 261 |
|  |  |  | 114809 |
| **Utah — 0.0%** | **Utah — 0.0%** | **Utah — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;Vineyard Redevelopment Agency, TA, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2023  |  | 400 | 404 |
| **Virginia — 1.8%** | **Virginia — 1.8%** | **Virginia — 1.8%** |  |
| &nbsp;&nbsp;&nbsp;Chesapeake Bay, Bridge & Tunnel District, RB, BAN  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2023  |  | 2000 | 2034 |
| &nbsp;&nbsp;&nbsp;Halifax County, Industrial Development Authority, Virginia Electric & Power Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.650%, 12/01/2041 (A) |  | 2000 | 1927 |
| &nbsp;&nbsp;&nbsp;Louisa, Industrial Development Authority, Virginia Electric & Power Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.650%, 11/01/2035 (A) |  | 5500 | 5299 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Short Duration Municipal Fund** (Continued)

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Louisa, Industrial Development Authority, Virginia Electric & Power Project, Ser 2008A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.900%, 11/01/2035 (A) | $| 6050 | $5987 |
| &nbsp;&nbsp;&nbsp;Mizuho Floater, Ser 2020-MIZ9025, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.470%, 11/01/2035 (A)(B)(D) |  | 4300 | 4300 |
|  |  |  | 19547 |
| **Washington — 1.0%** | **Washington — 1.0%** | **Washington — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;Central Puget Sound, Regional Transit Authority, Motor Vehicle Sales & Use Tax, Ser 2015S, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.050%, 11/01/2045 (A) |  | 6000 | 5833 |
| &nbsp;&nbsp;&nbsp;Central Puget Sound, Regional Transit Authority, Motor Vehicle Sales & Use Tax, Ser S, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.300%, 11/01/2045 (A) |  | 1525 | 1525 |
| &nbsp;&nbsp;&nbsp;Port of Seattle, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2026  |  | 1500 | 1587 |
| &nbsp;&nbsp;&nbsp;Port of Seattle, Ser D, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2024  |  | 1500 | 1538 |
| &nbsp;&nbsp;&nbsp;Seattle, Housing Authority, Northgate Plaza Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.000%, 06/01/2026  |  | 1000 | 918 |
| &nbsp;&nbsp;&nbsp;Washington State, Higher Education Facilities Authority, Seattle University Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2023  |  | 125 | 126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2024  |  | 160 | 164 |
| &nbsp;&nbsp;&nbsp;Washington State, Ser R-C, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2025  |  | 1515 | 1536 |
|  |  |  | 13227 |
| **West Virginia — 1.1%** | **West Virginia — 1.1%** | **West Virginia — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;West Virginia, Economic Development Authority, Appalachian Power Amos Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.550%, 03/01/2040 (A) |  | 2515 | 2460 |
| &nbsp;&nbsp;&nbsp;West Virginia, Economic Development Authority, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.750%, 12/01/2042 (A) |  | 10000 | 9859 |
|  |  |  | 12319 |
| **Wisconsin — 3.4%** | **Wisconsin — 3.4%** | **Wisconsin — 3.4%** |  |
| &nbsp;&nbsp;&nbsp;Clayton Town, Winnebago County, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 06/01/2026  |  | 1155 | 1081 |
| &nbsp;&nbsp;&nbsp;Fort Atkinson, School District, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 06/22/2023  |  | 1000 | 1002 |
| &nbsp;&nbsp;&nbsp;Precision Metalforming Association, Levy & Aid Anticipation Notes Program, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 03/01/2023  |  | 1000 | 1004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 04/19/2023  |  | 1000 | 1005 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Precision Metalforming Association, Levy & Aid Anticipation Notes Program, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 04/05/2023  | $| 550 | $552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/24/2023  |  | 500 | 504 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Health & Educational Facilities Authority, Marshfield Clinic Health System, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.420%, 02/15/2053 (A) |  | 1000 | 1000 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Housing & Economic Development Authority, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.700%, 09/01/2025  |  | 1245 | 1160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.650%, 03/01/2025  |  | 1700 | 1603 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Housing & Economic Development Authority, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.500%, 11/01/2050 (A) |  | 600 | 563 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Public Finance Authority, Duke Energy Progress Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.300%, 10/01/2046 (A) |  | 1000 | 1000 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Public Finance Authority, Waste Management Inc. Project, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.100%, 07/01/2029 (A) |  | 10550 | 9385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.100%, 04/01/2033 (A) |  | 3000 | 2669 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Ser 1, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2024  |  | 6500 | 6684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2027  |  | 8425 | 9228 |
|  |  |  | 38440 |
| **Multi-State — 0.7%** | **Multi-State — 0.7%** | **Multi-State — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase Putters, Ser 5027, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.030%, 03/20/2024 (A)(D) |  | 8000 | 8000 |
| Total Municipal Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $1,139,084) ($ Thousands) |  |  | 1113957 |
| **COMMERCIAL PAPER — 1.8%** | **COMMERCIAL PAPER — 1.8%** | **COMMERCIAL PAPER — 1.8%** | **COMMERCIAL PAPER — 1.8%** |
| &nbsp;&nbsp;&nbsp;North Texas, Municipal Water District |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.400%, 12/15/2022 (G) |  | 5125 | 5126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.400%, 12/15/2022 (G) |  | 5000 | 5001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.400%, 12/15/2022 (G) |  | 4555 | 4556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.350%, 12/15/2022 (G) |  | 5350 | 5352 |
| Total Commercial Paper | Total Commercial Paper | Total Commercial Paper |  |
| &nbsp;&nbsp;&nbsp;(Cost $20,030) ($ Thousands) | &nbsp;&nbsp;&nbsp;(Cost $20,030) ($ Thousands) | &nbsp;&nbsp;&nbsp;(Cost $20,030) ($ Thousands) | 20035 |
| Total Investments in Securities — 101.1% |  |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $1,159,114) ($ Thousands)  | &nbsp;&nbsp;&nbsp;(Cost $1,159,114) ($ Thousands)  | &nbsp;&nbsp;&nbsp;(Cost $1,159,114) ($ Thousands)  | $1133992 |

---

Percentages are based on Net Assets of $1,121,913 ($ Thousands).<br>

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Short Duration Municipal Fund** (Concluded)

(A) Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates.

(B) Securities are held in connection with a letter of credit issued by a major bank.

(C) Zero coupon security.

(D) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration normally to qualified institutions. On November 30, 2022, the value of these securities amounted to $54,288 ($ Thousands), representing 4.8% of the Net Assets of the Fund.

(E) Security is escrowed to maturity.

(F) Pre-Refunded Securities — The maturity date shown is the pre-refunded date.

(G) Interest rate represents the security's effective yield at the time of purchase.

As of November 30, 2022, all of the Fund's investments were considered Level 2, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. GAAP.<br>

For information on the Fund's policy regarding valuation of investments, fair value hierarchy levels and other significant accounting policies, please refer to Note 2 of the Fund's most recent financial statements.

See "Glossary" for abbreviations.

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**California Municipal Bond Fund** 

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS — 97.4%** | **MUNICIPAL BONDS — 97.4%** | **MUNICIPAL BONDS — 97.4%** |
| **California — 97.4%** | **California — 97.4%** |  |
| &nbsp;&nbsp;&nbsp;ABAG, Finance Authority for Nonprofit, Windemere Ranch Infrastructure Project, Ser A, Special Tax, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/02/2024  | $1390 | $1445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/02/2025  | 990 | 1049 |
| &nbsp;&nbsp;&nbsp;Anaheim, Housing & Public Improvements Authority, Electric Utility Generation System Improvements, Ser S, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2034  | 1000 | 1091 |
| &nbsp;&nbsp;&nbsp;Anaheim, Redevelopment Agency Successor Agency, Ser A, TA  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2027  | 2000 | 2179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2028  | 4000 | 4431 |
| &nbsp;&nbsp;&nbsp;Bakersfield, Wastewater Revenue, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/15/2029  | 1250 | 1331 |
| &nbsp;&nbsp;&nbsp;California State, Community Choice Financing Authority, Clean Energy Project, Ser B-1, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 02/01/2052 (A) | 5000 | 4933 |
| &nbsp;&nbsp;&nbsp;California State, Educational Facilities Authority, Chapman University Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2029  | 400 | 446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2030  | 425 | 477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2031  | 470 | 533 |
| &nbsp;&nbsp;&nbsp;California State, Educational Facilities Authority, Occidental College Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2025  | 400 | 425 |
| &nbsp;&nbsp;&nbsp;California State, Educational Facilities Authority, Pepperdine University Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2026  | 650 | 691 |
| &nbsp;&nbsp;&nbsp;California State, Educational Facilities Authority, University of Redlands Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2023 (B) | 830 | 847 |
| &nbsp;&nbsp;&nbsp;California State, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2026  | 6000 | 6517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2027  | 3000 | 3257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2028  | 2665 | 2944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2031  | 5000 | 5510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2031  | 7500 | 8732 |
| &nbsp;&nbsp;&nbsp;California State, GO, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 08/01/2032  | 2000 | 2414 |
| &nbsp;&nbsp;&nbsp;California State, Health Facilities Financing Authority, Children's Hospital of Orange County, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2027  | 1500 | 1652 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;California State, Health Facilities Financing Authority, City of Hope Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2027  | $1200 | $1237 |
| &nbsp;&nbsp;&nbsp;California State, Health Facilities Financing Authority, City of Hope Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2024  | 1000 | 1002 |
| &nbsp;&nbsp;&nbsp;California State, Health Facilities Financing Authority, Kaiser Permanente Project, Ser 2006-C, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2041 (A) | 4000 | 4539 |
| &nbsp;&nbsp;&nbsp;California State, Health Facilities Financing Authority, St. Joseph Health System, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2039 (A) | 1500 | 1640 |
| &nbsp;&nbsp;&nbsp;California State, Health Facilities Financing Authority, Stanford Health Care, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 08/15/2054 (A) | 2000 | 1998 |
| &nbsp;&nbsp;&nbsp;California State, Health Facilities Financing Authority, Stanford Health Care, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2027  | 1000 | 1112 |
| &nbsp;&nbsp;&nbsp;California State, Health Facilities Financing Authority, Sutter Health Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2026  | 500 | 540 |
| &nbsp;&nbsp;&nbsp;California State, Housing Finance Agency, Ser 2, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 03/20/2033  | 954 | 926 |
| &nbsp;&nbsp;&nbsp;California State, Housing Finance Agency, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 01/15/2035  | 1427 | 1385 |
| &nbsp;&nbsp;&nbsp;California State, Infrastructure & Economic Development Bank, Academy Motion Picture Art, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2030  | 3000 | 3486 |
| &nbsp;&nbsp;&nbsp;California State, Infrastructure & Economic Development Bank, Academy Motion Picture Art, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2029  | 2125 | 2435 |
| &nbsp;&nbsp;&nbsp;California State, Infrastructure & Economic Development Bank, National Charter School Revolving Loan Fund, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2031  | 535 | 586 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2032  | 850 | 933 |
| &nbsp;&nbsp;&nbsp;California State, Infrastructure & Economic Development Bank, Walt Disney Family Museum, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2024  | 500 | 513 |
| &nbsp;&nbsp;&nbsp;California State, Municipal Finance Authority, Biola University Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2024  | 1110 | 1143 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**California Municipal Bond Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;California State, Municipal Finance Authority, Community Medical Centers, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2025  | $1000 | $1031 |
| &nbsp;&nbsp;&nbsp;California State, Municipal Finance Authority, Eisenhower Medical Center, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2025  | 500 | 517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2027  | 1170 | 1235 |
| &nbsp;&nbsp;&nbsp;California State, Municipal Finance Authority, Eisenhower Medical Center, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2026  | 450 | 469 |
| &nbsp;&nbsp;&nbsp;California State, Municipal Finance Authority, Humangood Obligation Group, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/01/2029  | 1260 | 1269 |
| &nbsp;&nbsp;&nbsp;California State, Municipal Finance Authority, Linxs APM Project, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/31/2028  | 1000 | 1053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/30/2029  | 1300 | 1368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/31/2029  | 1000 | 1052 |
| &nbsp;&nbsp;&nbsp;California State, Municipal Finance Authority, Orange County Civic Center Infrastructure Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2025  | 500 | 527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2026  | 310 | 333 |
| &nbsp;&nbsp;&nbsp;California State, Municipal Finance Authority, Orchard Park Student Housing Project, RB, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2029  | 700 | 764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2030  | 900 | 991 |
| &nbsp;&nbsp;&nbsp;California State, Municipal Finance Authority, UCR North District, Phase 1 Student Project, RB, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2026  | 500 | 528 |
| &nbsp;&nbsp;&nbsp;California State, Municipal Finance Authority, Waste Management Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.300%, 02/01/2039 (A)(C) | 2000 | 1877 |
| &nbsp;&nbsp;&nbsp;California State, Pollution Control Financing Authority, Waste Management Project, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 11/01/2038 (A) | 1125 | 1098 |
| &nbsp;&nbsp;&nbsp;California State, Public Works Board, Various Capital Projects, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2028  | 2005 | 2219 |
| &nbsp;&nbsp;&nbsp;California State, School Finance Authority, Aspire Public Schools, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2023 (C) | 760 | 769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2023 (B)(C) | 65 | 66 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;California State, Statewide Communities Development Authority, Henry Mayo Newhall Memorial Project, Ser A, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2023  | $500 | $508 |
| &nbsp;&nbsp;&nbsp;California State, Statewide Communities Development Authority, Kaiser Permanente Project, Ser 2004-M, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2038 (A) | 4000 | 4539 |
| &nbsp;&nbsp;&nbsp;California State, Statewide Communities Development Authority, Student Housing, University of California, Irvine Campus Apartments, RB, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 05/15/2046  | 1000 | 952 |
| &nbsp;&nbsp;&nbsp;California State, Tobacco Securitization Agency, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2023  | 1200 | 1206 |
| &nbsp;&nbsp;&nbsp;California State, University Systemwide, Ser B-2-REMK, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.550%, 11/01/2049 (A) | 3000 | 2580 |
| &nbsp;&nbsp;&nbsp;California State, Various Purpose, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2026  | 5000 | 5457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2029  | 1300 | 1478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2030  | 1230 | 1411 |
| &nbsp;&nbsp;&nbsp;California State, Various Purpose, Group B, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2026  | 2000 | 2176 |
| &nbsp;&nbsp;&nbsp;Carlsbad, Unified School District, Ser B, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 05/01/2034  | 2750 | 2873 |
| &nbsp;&nbsp;&nbsp;Chabot-Las Positas, Community College District, Ser B, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 08/01/2030  | 1250 | 1234 |
| &nbsp;&nbsp;&nbsp;El Dorado, Irrigation District, Ser B, COP  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2025  | 1000 | 1051 |
| &nbsp;&nbsp;&nbsp;FHLMC Multifamily Certificates, Relating to Municipal Securities, Ser M-049, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.050%, 04/15/2034  | 1360 | 1172 |
| &nbsp;&nbsp;&nbsp;Fresno, Joint Powers Financing Authority, Master Lease Project, Ser A, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2025  | 1500 | 1584 |
| &nbsp;&nbsp;&nbsp;Golden State, Tobacco Securitization Project, Ser A1, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2025 (B) | 3365 | 3565 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2026 (B) | 1500 | 1621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2027 (B) | 5000 | 5507 |
| &nbsp;&nbsp;&nbsp;Hesperia Community, Redevelopment Agency Successor Agency, Ser A, COP, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2029  | 2275 | 2522 |
| &nbsp;&nbsp;&nbsp;Imperial, Irrigation District Electric System Revenue Authority, Ser B2, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2024  | 730 | 762 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**California Municipal Bond Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2025  | $1000 | $1063 |
| &nbsp;&nbsp;&nbsp;Imperial, Irrigation District Electric System Revenue Authority, Ser C, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2024  | 625 | 652 |
| &nbsp;&nbsp;&nbsp;Inglewood, Redevelopment Agency Successor Agency, Merged Redevelopment Project, Sub-Ser, TA, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2025  | 1000 | 1047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2026  | 500 | 531 |
| &nbsp;&nbsp;&nbsp;Lancaster, Redevelopment Agency Successor Agency, Combined Redevelopment Project Areas, TA, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2024  | 435 | 449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2025  | 570 | 599 |
| &nbsp;&nbsp;&nbsp;Lodi, Public Financing Authority, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2026  | 1000 | 1075 |
| &nbsp;&nbsp;&nbsp;Long Beach, Harbor Revenue, Ser A, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2026  | 1100 | 1168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2027  | 2000 | 2147 |
| &nbsp;&nbsp;&nbsp;Long Beach, Harbor Revenue, Ser C, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2026  | 2370 | 2498 |
| &nbsp;&nbsp;&nbsp;Long Beach, Marina Revenue, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2023  | 700 | 706 |
| &nbsp;&nbsp;&nbsp;Los Angeles County, Metropolitan Transportation Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2030  | 545 | 634 |
| &nbsp;&nbsp;&nbsp;Los Angeles County, Redevelopment Authority, Bunker Hill Project, Ser C, TA  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2024  | 2000 | 2088 |
| &nbsp;&nbsp;&nbsp;Los Angeles, Department of Airports, Los Angeles International Airport Project, Ser D, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2025  | 1170 | 1237 |
| &nbsp;&nbsp;&nbsp;Los Angeles, Department of Airports, Los Angeles International Airport Project, Ser G, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2034  | 1500 | 1635 |
| &nbsp;&nbsp;&nbsp;Los Angeles, Department of Airports, Los Angeles International Airport Project, Sub-Ser A, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2032  | 2680 | 2962 |
| &nbsp;&nbsp;&nbsp;Los Angeles, Department of Airports, Los Angeles International Airport Project, Sub-Ser D, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2026  | 1000 | 1055 |
| &nbsp;&nbsp;&nbsp;Los Angeles, Department of Airports, Los Angeles International Airport Project, Sub-Ser, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2027  | 7990 | 8527 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2028  | $1000 | $1080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2029  | 3000 | 3259 |
| &nbsp;&nbsp;&nbsp;Los Angeles, Harbor Department, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2025  | 1000 | 1063 |
| &nbsp;&nbsp;&nbsp;Los Angeles, Unified School District, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2025  | 2000 | 2126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2026  | 1000 | 1085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2029  | 3940 | 4507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2031  | 5000 | 5851 |
| &nbsp;&nbsp;&nbsp;Los Angeles, Unified School District, Ser B1, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2029  | 1000 | 1114 |
| &nbsp;&nbsp;&nbsp;Northern California, Energy Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/2049 (A) | 3000 | 3010 |
| &nbsp;&nbsp;&nbsp;Northern California, Tobacco Securitization Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 06/01/2049  | 1205 | 1196 |
| &nbsp;&nbsp;&nbsp;Palm Springs, Airport Revenue, Palm Springs International Airport Project, AMT, RB, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2028  | 1100 | 1132 |
| &nbsp;&nbsp;&nbsp;Pittsburg, Redevelopment Agency Successor Agency, Ser A, TA, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2023  | 3000 | 3046 |
| &nbsp;&nbsp;&nbsp;Redlands, Unified School District, San Bernadino County, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2028  | 1000 | 1102 |
| &nbsp;&nbsp;&nbsp;Riverside County, Redevelopment Successor Agency, Jurupa Valley Redevelopment Project, TA  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2025  | 560 | 592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2026  | 500 | 538 |
| &nbsp;&nbsp;&nbsp;Riverside, Unified School District, Ser B, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/2028  | 1000 | 1052 |
| &nbsp;&nbsp;&nbsp;Roseville, Finance Authority, Ser A, Special Tax  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2025  | 1000 | 1060 |
| &nbsp;&nbsp;&nbsp;Sacramento County, Airport System Revenue, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2026  | 1000 | 1076 |
| &nbsp;&nbsp;&nbsp;Sacramento County, Sanitation Districts Financing Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2028  | 1000 | 1131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2029  | 500 | 575 |
| &nbsp;&nbsp;&nbsp;Sacramento, Area Flood Control Agency, Consolidated Capital Assessment District No. 2 Bonds, Ser A, SAB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2026  | 850 | 921 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**California Municipal Bond Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Sacramento, Municipal Utility District, Financing Authority, Cosumnes Project, Ser D, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2026  | $1000 | $1082 |
| &nbsp;&nbsp;&nbsp;Sacramento, Municipal Utility District, Ser I, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2028  | 1000 | 1121 |
| &nbsp;&nbsp;&nbsp;Sacramento, Redevelopment Agency Successor Agency, Ser A, TA, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2024  | 1000 | 1043 |
| &nbsp;&nbsp;&nbsp;San Diego County, Regional Airport Authority, Sub-Ser B, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2025  | 500 | 519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2026  | 400 | 419 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2027  | 500 | 530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2028  | 1000 | 1058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2031  | 5000 | 5440 |
| &nbsp;&nbsp;&nbsp;San Diego County, Sanford Burnham Presbyterian Medical Discovery Institute, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2024  | 1200 | 1251 |
| &nbsp;&nbsp;&nbsp;San Diego County, Water Authority, Sub-Ser S1, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2028  | 2500 | 2802 |
| &nbsp;&nbsp;&nbsp;San Diego, Association of Governments South Bay Expressway Revenue, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2028  | 1000 | 1089 |
| &nbsp;&nbsp;&nbsp;San Diego, Public Facilities Financing Authority, Capital Improvement Projects, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/15/2029  | 300 | 341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/15/2030  | 400 | 461 |
| &nbsp;&nbsp;&nbsp;San Diego, Regional Building Authority, County Operations Center Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/15/2027  | 1000 | 1066 |
| &nbsp;&nbsp;&nbsp;San Diego, Unified School District, Ser E-2, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2031  | 1000 | 1179 |
| &nbsp;&nbsp;&nbsp;San Francisco Bay Area, Rapid Transit District, Ser C-1, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/2031  | 2000 | 2146 |
| &nbsp;&nbsp;&nbsp;San Francisco City & County, Airport Commission, San Francisco International Airport, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2026  | 2500 | 2615 |
| &nbsp;&nbsp;&nbsp;San Francisco City & County, Airport Commission, San Francisco International Airport, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2025  | 1000 | 1054 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;San Francisco City & County, Airport Commission, San Francisco International Airport, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2031  | $2500 | $2883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2032  | 2500 | 2865 |
| &nbsp;&nbsp;&nbsp;San Jose, Norman Y Mineta San Jose International Airport SJC, Ser A, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2025  | 1000 | 1034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2026  | 1780 | 1858 |
| &nbsp;&nbsp;&nbsp;San Jose, Norman Y Mineta San Jose International Airport SJC, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2029  | 500 | 563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2030  | 700 | 797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2031  | 860 | 990 |
| &nbsp;&nbsp;&nbsp;San Jose, Redevelopment Agency Successor Agency, Sub-Ser B, TA  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2027  | 1000 | 1093 |
| &nbsp;&nbsp;&nbsp;Santa Ana, College Improvement District #1, Rancho Santiago Community College District, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 08/01/2032  | 1000 | 965 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 08/01/2033  | 2580 | 2453 |
| &nbsp;&nbsp;&nbsp;Santa Barbara County, Solid Waste Systems, Ser B, AMT, COP  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2025  | 1440 | 1522 |
| &nbsp;&nbsp;&nbsp;Solano County, COP  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2025  | 700 | 747 |
| &nbsp;&nbsp;&nbsp;Southern California, Public Power Authority, Milford Wind Corridor, Phase II Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2030  | 800 | 928 |
| &nbsp;&nbsp;&nbsp;Southern California, Public Power Authority, Natural Gas Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 11/01/2025  | 2930 | 3057 |
| &nbsp;&nbsp;&nbsp;Stockton, Redevelopment Agency Successor Agency, Ser A, TA, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2026  | 1000 | 1070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2027  | 1000 | 1070 |
| &nbsp;&nbsp;&nbsp;Tulare, Local Health Care District, GO, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/2027  | 585 | 612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/2028  | 435 | 459 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/2029  | 735 | 781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/2030  | 1320 | 1404 |
| &nbsp;&nbsp;&nbsp;Tuolumne, Wind Project Authority, Wind Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2026  | 1000 | 1071 |
| &nbsp;&nbsp;&nbsp;Tustin, Unified School District, Community Facilities District #97-1, Special Tax  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2023  | 1000 | 1016 |
| &nbsp;&nbsp;&nbsp;Union, Sanitary District Financing Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 09/01/2031  | 500 | 546 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**California Municipal Bond Fund** (Continued)

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;University of California, Regents Medical Center Pooled Revenue, Ser L, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2024  | $| 2000 | $2070 |
| &nbsp;&nbsp;&nbsp;University of California, Ser S, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2033  |  | 1110 | 1313 |
| &nbsp;&nbsp;&nbsp;Upland, Community Redevelopment Agency Successor Agency, Community Development Project, TA  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2025  |  | 1280 | 1355 |
| &nbsp;&nbsp;&nbsp;Vernon, Electric System Revenue, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2027  |  | 1000 | 1055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2028  |  | 2000 | 2119 |
| &nbsp;&nbsp;&nbsp;Western, Municipal Water District Facilities Authority, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2033  |  | 2000 | 2307 |
| Total Municipal Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $281,533) ($ Thousands) |  |  | 265551 |
|  | <br> Shares | <br> Shares |  |
| **CASH EQUIVALENT — 1.7%** | **CASH EQUIVALENT — 1.7%** | **CASH EQUIVALENT — 1.7%** | **CASH EQUIVALENT — 1.7%** |
| &nbsp;&nbsp;&nbsp;SEI Daily Income Trust, Government Fund, Cl F |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.370%\*\*<sup>†</sup> |  | 4726252 | 4726 |
| Total Cash Equivalent |  |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $4,726) ($ Thousands) |  |  | 4726 |
| Total Investments in Securities — 99.1% |  |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $286,259) ($ Thousands)  | &nbsp;&nbsp;&nbsp;(Cost $286,259) ($ Thousands)  | &nbsp;&nbsp;&nbsp;(Cost $286,259) ($ Thousands)  | $270277 |

---

---

| | |
|:---|:---|
|  | Percentages are based on Net Assets of $272,680 ($ Thousands). |
| \*\* | The rate reported is the 7-day effective yield as of November 30, 2022. |
| <sup>†</sup> | Investment in Affiliated Security. |
| (A) | Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates. |
| (B) | Security is escrowed to maturity. |
| (C) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration normally to qualified institutions. On November 30, 2022, the value of these securities amounted to $2,712 ($ Thousands), representing 1.0% of the Net Assets of the Fund. |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| The following is a summary of the level of inputs used as of November 30, 2022, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands): | The following is a summary of the level of inputs used as of November 30, 2022, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands): | The following is a summary of the level of inputs used as of November 30, 2022, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands): | The following is a summary of the level of inputs used as of November 30, 2022, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands): | The following is a summary of the level of inputs used as of November 30, 2022, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands): |
| **Investments in Securities** | **Level 1<br> ($)** | **Level 2<br> ($)** | **Level 3<br> ($)** | **Total<br> ($)** |
| &nbsp;&nbsp;&nbsp;Municipal Bonds |  | 265551 |  | 265551 |
| &nbsp;&nbsp;&nbsp;Cash Equivalent | 4726 | – |  | 4726 |
| Total Investments in Securities | 4726 | 265551 |  | 270277 |

---

For information on the Fund's policy regarding valuation of investments, fair value hierarchy levels and other significant accounting policies, please refer to Note 2 of the Fund's most recent financial statements.

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**California Municipal Bond Fund** (Concluded)

The following is a summary of the transactions with affiliates for the period ended November 30, 2022 ($ Thousands):

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description**  | **Value 8/31/22** | **Purchases at Cost**  | **Proceeds from Sales**  | **Realized Gain/ (Loss)** | **Change in Unrealized Appreciation (Depreciation)** | **Value 11/30/22** | **Income**  | **Capital Gains** |
| SEI Daily Income Trust, Government Fund, Cl F | $&nbsp;&nbsp;&nbsp;&nbsp;591 | $&nbsp;&nbsp;&nbsp;&nbsp;19942 | $&nbsp;&nbsp;&nbsp;&nbsp;(15807) | $&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;4726 | $&nbsp;&nbsp;&nbsp;&nbsp;16 | $&nbsp;&nbsp;&nbsp;&nbsp;— |

---

Amounts designated as "—" are $0 or have been rounded to $0.

See "Glossary" for abbreviations.

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Massachusetts Municipal Bond Fund** 

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS — 99.2%** | **MUNICIPAL BONDS — 99.2%** | **MUNICIPAL BONDS — 99.2%** |
| **Massachusetts — 99.2%** | **Massachusetts — 99.2%** |  |
| &nbsp;&nbsp;&nbsp;Boston, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 11/01/2031  | $1500 | $1624 |
| &nbsp;&nbsp;&nbsp;Hingham, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 02/15/2030  | 340 | 363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 02/15/2031  | 320 | 340 |
| &nbsp;&nbsp;&nbsp;Lowell, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2027  | 1520 | 1673 |
| &nbsp;&nbsp;&nbsp;Massachusetts Bay, Transportation Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 07/01/2030  | 500 | 588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 07/01/2031  | 750 | 895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2026  | 1000 | 1080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2027  | 1500 | 1650 |
| &nbsp;&nbsp;&nbsp;Massachusetts Bay, Transportation Authority, Sub-Ser A-1, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2031  | 1000 | 1168 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Clean Water Trust, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2029  | 1000 | 1071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2030  | 1315 | 1528 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Clean Water Trust, Ser 23B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2029  | 800 | 907 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Department of Transportation, Metropolitan Highway System, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2027  | 1000 | 1088 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Department of Transportation, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2029  | 1000 | 1127 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Department of Transportation, Sub-Ser C, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2027  | 1020 | 1110 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Babson College Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2033  | 1115 | 1233 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Baystate Medical Center Project, Ser N, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2023  | 200 | 203 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Bentley University, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2031  | 1000 | 1134 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Beth Israel Lahey Health Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2028  | 585 | 636 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Boston College, Ser U, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2029  | 1000 | 1128 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Boston Medical Center, Ser E, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2026  | $200 | $210 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Brandeis University Project, Ser S, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2029  | 1000 | 1104 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Broad Institute Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2025  | 500 | 525 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, CareGroup Project, Ser H, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2024  | 500 | 516 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, CareGroup Project, Ser I, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2026  | 500 | 533 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, CareGroup Project, Ser J, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2024  | 500 | 516 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, College Holy Cross Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2026  | 200 | 215 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Dana-Farber Cancer Institute, Ser O, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2026  | 1000 | 1077 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Harvard University, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2032  | 1000 | 1205 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Lahey Clinic Project, Ser F, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2024  | 750 | 776 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Lesley University Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2024  | 1000 | 1028 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Milton Academy, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2028  | 400 | 441 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Northeastern University, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2025  | 970 | 1031 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Partners Health Care Systems Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2025  | 1000 | 1058 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Massachusetts Municipal Bond Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Partners Health Care Systems Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 100  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2025 (A) | $500 | $529 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2050 (B) | 1000 | 1111 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, South Shore Hospital Project, Ser I, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2025  | 500 | 517 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Sterling and Francine Clark Art Institute, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/2024  | 400 | 408 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Suffolk University Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2024  | 850 | 872 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, UMass Memorial Health Care, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2031  | 1000 | 1051 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Wellforce, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2023  | 700 | 708 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Development Finance Agency, Worcester Polytechnic Institute, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2030  | 210 | 228 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Educational Financing Authority, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2028  | 850 | 908 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Educational Financing Authority, Ser A, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2026  | 400 | 412 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Health & Educational Facilities Authority, Massachusetts Institute of Technology Project, Ser M, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 07/01/2029  | 500 | 580 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Municipal Wholesale Electric, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2031  | 410 | 472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2032  | 440 | 507 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Port Authority, BosFuel Project, Ser A, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2027  | 1000 | 1065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2029  | 840 | 903 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Port Authority, Ser A, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2027  | 1000 | 1063 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2028  | $1250 | $1339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2029  | 500 | 543 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Port Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2025  | 1000 | 1059 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Port Authority, Ser C, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2028  | 1000 | 1074 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Port Authority, Ser C, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2024  | 520 | 538 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2026  | 1250 | 1351 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Ser B, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2026  | 1000 | 1081 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2027  | 1000 | 1100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2028  | 1500 | 1665 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Ser C, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2033  | 2500 | 2952 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Ser D, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2026  | 1000 | 1076 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Ser E, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2027  | 2000 | 2214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2028  | 1000 | 1123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2030  | 1000 | 1162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2031  | 345 | 400 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Transportation Fund Revenue, Rail Enhancement & Accelerated Program, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2030  | 1000 | 1033 |
| &nbsp;&nbsp;&nbsp;Massachusetts State, Water Resources Authority, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2028  | 1000 | 1120 |
| &nbsp;&nbsp;&nbsp;University of Massachusetts, Building Authority, Ser 1, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2030  | 1500 | 1692 |
| &nbsp;&nbsp;&nbsp;University of Massachusetts, Building Authority, UMass Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2026  | 1000 | 1086 |
| &nbsp;&nbsp;&nbsp;Woods Hole, Marthas Vineyard & Nantucket, Steamship Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2029  | 1150 | 1300 |
| &nbsp;&nbsp;&nbsp;Worcester, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 02/15/2030  | 285 | 298 |
| Total Municipal Bonds |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $70,801) ($ Thousands) |  | 67321 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Massachusetts Municipal Bond Fund** (Concluded)

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **CASH EQUIVALENT — 0.1%** | **CASH EQUIVALENT — 0.1%** | **CASH EQUIVALENT — 0.1%** |
| &nbsp;&nbsp;&nbsp;SEI Daily Income Trust, Government Fund, Cl F |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.370%\*\*<sup>†</sup> | 61046 | $61 |
| Total Cash Equivalent |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $61) ($ Thousands) |  | 61 |
| Total Investments in Securities — 99.3% |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $70,862) ($ Thousands)  | &nbsp;&nbsp;&nbsp;(Cost $70,862) ($ Thousands)  | $67382 |

---

---

| | |
|:---|:---|
|  | Percentages are based on Net Assets of $67,839 ($ Thousands). |
| \*\* | The rate reported is the 7-day effective yield as of November 30, 2022. |
| <sup>†</sup> | Investment in Affiliated Security. |
| (A) | Pre-Refunded Securities — The maturity date shown is the pre-refunded date. |
| (B) | Variable or floating rate security, the interest rate of which adjusts periodically based on prevailing interest rates. |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| The following is a summary of the level of inputs used as of November 30, 2022, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands): | The following is a summary of the level of inputs used as of November 30, 2022, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands): | The following is a summary of the level of inputs used as of November 30, 2022, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands): | The following is a summary of the level of inputs used as of November 30, 2022, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands): | The following is a summary of the level of inputs used as of November 30, 2022, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands): |
| **Investments in Securities** | **Level 1<br> ($)** | **Level 2<br> ($)** | **Level 3<br> ($)** | **Total<br> ($)** |
| &nbsp;&nbsp;&nbsp;Municipal Bonds |  | 67321 |  | 67321 |
| &nbsp;&nbsp;&nbsp;Cash Equivalent | 61 | – |  | 61 |
| Total Investments in Securities | 61 | 67321 |  | 67382 |

---

For information on the Fund's policy regarding valuation of investments, fair value hierarchy levels and other significant accounting policies, please refer to Note 2 of the Fund's most recent financial statements.

The following is a summary of the transactions with affiliates for the period ended November 30, 2022 ($ Thousands):

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description**  | **Value 8/31/22** | **Purchases at Cost**  | **Proceeds from Sales**  | **Realized Gain/ (Loss)** | **Change in Unrealized Appreciation/ (Depreciation)** | **Value 11/30/22** | **Income**  | **Capital Gains** |
| SEI Daily Income Trust, Government Fund, Cl F | $&nbsp;&nbsp;&nbsp;&nbsp;- | $&nbsp;&nbsp;&nbsp;&nbsp;6568 | $&nbsp;&nbsp;&nbsp;&nbsp;(6507) | $&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;61 | $&nbsp;&nbsp;&nbsp;&nbsp;4 | $&nbsp;&nbsp;&nbsp;&nbsp;— |

---

Amounts designated as "—" are $0 or have been rounded to $0.

See "Glossary" for abbreviations.

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**New Jersey Municipal Bond Fund** 

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS — 99.9%** | **MUNICIPAL BONDS — 99.9%** | **MUNICIPAL BONDS — 99.9%** |
| **Delaware — 3.0%** | **Delaware — 3.0%** |  |
| &nbsp;&nbsp;&nbsp;Delaware State, River & Bay Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2029  | $1000 | $1121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2030  | 180 | 205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2031  | 115 | 133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2032  | 225 | 263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2033  | 225 | 261 |
| &nbsp;&nbsp;&nbsp;Delaware State, River & Bay Authority, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2024  | 1000 | 1024 |
|  |  | 3007 |
| **New Jersey — 82.8%** | **New Jersey — 82.8%** |  |
| &nbsp;&nbsp;&nbsp;Bayonne City, Qualified General Improvement Project, GO, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2024  | 825 | 854 |
| &nbsp;&nbsp;&nbsp;Bergen County, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 07/15/2029  | 1000 | 1002 |
| &nbsp;&nbsp;&nbsp;Bergen County, Improvement Authority, Ser C, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2025  | 2160 | 2295 |
| &nbsp;&nbsp;&nbsp;Camden County, Improvement Authority, Cooper Health System Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/15/2024  | 1000 | 1021 |
| &nbsp;&nbsp;&nbsp;Camden County, Improvement Authority, County Capital Program, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/15/2025  | 420 | 439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/15/2026  | 1820 | 1938 |
| &nbsp;&nbsp;&nbsp;Carlstadt, School District, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2025  | 500 | 515 |
| &nbsp;&nbsp;&nbsp;Essex County, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2025  | 2500 | 2652 |
| &nbsp;&nbsp;&nbsp;Essex County, Improvement Authority, County Guaranteed Project, RB, NATL  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 10/01/2025  | 1000 | 1079 |
| &nbsp;&nbsp;&nbsp;Gloucester County, Improvement Authority, Rowan University Fossil Park, RB, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2031  | 375 | 418 |
| &nbsp;&nbsp;&nbsp;Gloucester County, Improvement Authority, Rowan University Project, Ser A, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2025  | 500 | 529 |
| &nbsp;&nbsp;&nbsp;Gloucester County, Improvement Authority, Rowan University Project, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2026  | 1000 | 1045 |
| &nbsp;&nbsp;&nbsp;Hudson County, Improvement Authority, Vocational - Technical School Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2026  | 500 | 536 |
| &nbsp;&nbsp;&nbsp;Jersey City, Redevelopment Agency, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/15/2031  | 1000 | 1054 |
| &nbsp;&nbsp;&nbsp;Jersey City, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2025  | 125 | 133 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Middlesex County, Improvement Authority, New Brunswick Cultural Center Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2028  | $1755 | $1927 |
| &nbsp;&nbsp;&nbsp;Monmouth County, Improvement Authority, Governmental Pooled Loans, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2031  | 365 | 426 |
| &nbsp;&nbsp;&nbsp;Monmouth County, Improvement Authority, Governmental Pooled Loans, Ser C, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2027  | 1000 | 1089 |
| &nbsp;&nbsp;&nbsp;Montgomery Township, Board of Education, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2025  | 1300 | 1368 |
| &nbsp;&nbsp;&nbsp;New Jersey State, COVID-19 Emergency Bonds, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 06/01/2031  | 2000 | 2118 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Economic Development Authority, New Jersey Natural Gas, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.450%, 04/01/2059 (A) | 2000 | 1952 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Economic Development Authority, Portal North Bridge Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2033  | 650 | 723 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Economic Development Authority, Provident Group Montclair Project, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2027  | 1000 | 1072 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Economic Development Authority, School Facilities Construction Project, Ser II, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2025  | 2500 | 2503 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Economic Development Authority, Ser A, RB, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2027  | 1140 | 1215 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Educational Facilities Authority, Montclair State University, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2028  | 2260 | 2378 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Educational Facilities Authority, Ramapo College Project, Ser A, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2025  | 1000 | 1047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2033  | 350 | 391 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Educational Facilities Authority, Ramapo College Project, Ser B, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2025  | 1000 | 1047 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Educational Facilities Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2033  | 1360 | 1450 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**New Jersey Municipal Bond Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;New Jersey State, Educational Facilities Authority, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2029  | $4000 | $4540 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Educational Facilities Authority, Stockton University Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2026  | 1000 | 1053 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Educational Facilities Authority, William Patterson University Project, Ser C, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2027  | 1905 | 1976 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Health Care Facilities Financing Authority, AHS Hospital Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2026  | 735 | 789 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Health Care Facilities Financing Authority, Atlanticare Health System, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2031  | 725 | 821 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Health Care Facilities Financing Authority, Hackensack Meridian Health Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2026  | 2000 | 2140 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Health Care Facilities Financing Authority, Inspira Health Obligated Group, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2023  | 1000 | 1012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2031  | 1080 | 1139 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Health Care Facilities Financing Authority, Princeton Healthcare System Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2027  | 1000 | 1072 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Health Care Facilities Financing Authority, RWJ Barnabas Health Obligated Group, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2025  | 1000 | 1055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2032  | 1225 | 1387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2045 (A) | 1500 | 1598 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Health Care Facilities Financing Authority, Valley Health System Obligated Group, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2030  | 1250 | 1345 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Health Care Facilities Financing Authority, Virtua Health, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2026  | 940 | 961 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Health Care Facilities Financing Authority, Virtua Health, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 100  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2024 (B) | 60 | 62 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;New Jersey State, Higher Education Student Assistance Authority, Ser 1A, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2022  | $1500 | $1500 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Higher Education Student Assistance Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2028  | 675 | 733 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Higher Education Student Assistance Authority, Ser B, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2030  | 700 | 759 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Housing & Mortgage Finance Agency, Ser H, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2029  | 485 | 532 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Housing & Mortgage Finance Agency, Single Family Housing, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.250%, 04/01/2025  | 765 | 758 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Institute of Technology, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2028  | 200 | 221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2029  | 270 | 302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2030  | 260 | 290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2031  | 375 | 417 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Transportation Trust Fund Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 06/15/2032  | 1375 | 1562 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Transportation Trust Fund Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 06/15/2034  | 2055 | 2059 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Transportation Trust Fund Authority, Ser S, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2030  | 1000 | 1087 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Turnpike Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2028  | 1430 | 1549 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Turnpike Authority, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2028  | 1000 | 1101 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Turnpike Authority, Ser C, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2025  | 1000 | 1045 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Turnpike Authority, Ser D, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2028  | 1000 | 1073 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Turnpike Authority, Ser E, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2027  | 1420 | 1540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2029  | 960 | 1057 |
| &nbsp;&nbsp;&nbsp;Ocean County, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2027  | 700 | 743 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**New Jersey Municipal Bond Fund** (Continued)

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Passaic County, Improvement Authority, City of Paterson Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2024  | $| 315 | $326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2025  |  | 250 | 264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2027  |  | 545 | 575 |
| &nbsp;&nbsp;&nbsp;Rutgers State University, Ser M, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2027  |  | 1000 | 1071 |
| &nbsp;&nbsp;&nbsp;Rutgers State University, Ser N, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2028  |  | 500 | 556 |
| &nbsp;&nbsp;&nbsp;Salem County, Pollution Control Financing Authority, Chambers Project, Ser A, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2023 (C) |  | 385 | 390 |
| &nbsp;&nbsp;&nbsp;Somerset County, Ser A&B, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 08/01/2030  |  | 540 | 536 |
| &nbsp;&nbsp;&nbsp;Sparta Township, Board of Education, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 100  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/15/2025 (B) |  | 575 | 604 |
| &nbsp;&nbsp;&nbsp;Tobacco Settlement Financing, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2032  |  | 500 | 520 |
| &nbsp;&nbsp;&nbsp;Tobacco Settlement Financing, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.200%, 06/01/2027  |  | 5 | 5 |
| &nbsp;&nbsp;&nbsp;Township of Edison New Jersey, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 03/15/2033  |  | 1635 | 1553 |
| &nbsp;&nbsp;&nbsp;Verona Township, Board of Education, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2025  |  | 500 | 524 |
|  |  |  | 82418 |
| **New York — 11.1%** | **New York — 11.1%** | **New York — 11.1%** |  |
| &nbsp;&nbsp;&nbsp;New York & New Jersey, Port Authority, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/15/2029  |  | 4000 | 4138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2032  |  | 2415 | 2586 |
| &nbsp;&nbsp;&nbsp;New York & New Jersey, Port Authority, Ser 178, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2025  |  | 2000 | 2032 |
| &nbsp;&nbsp;&nbsp;New York & New Jersey, Port Authority, Ser 223, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/15/2033  |  | 2165 | 2336 |
|  |  |  | 11092 |
| **Pennsylvania — 3.0%** | **Pennsylvania — 3.0%** | **Pennsylvania — 3.0%** |  |
| &nbsp;&nbsp;&nbsp;Delaware River, Joint Toll Bridge Commission, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2027  |  | 1450 | 1589 |
| &nbsp;&nbsp;&nbsp;Delaware River, Port Authority, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2029  |  | 1225 | 1365 |
|  |  |  | 2954 |
| Total Municipal Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $104,362) ($ Thousands) |  |  | 99471 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **CASH EQUIVALENT — 0.3%** | **CASH EQUIVALENT — 0.3%** | **CASH EQUIVALENT — 0.3%** |
| &nbsp;&nbsp;&nbsp;SEI Daily Income Trust, Government Fund, Cl F |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.370%\*\*<sup>†</sup> | 257190 | $257 |
| Total Cash Equivalent |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $257) ($ Thousands) |  | 257 |
| Total Investments in Securities — 100.2% |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $104,619) ($ Thousands)  | &nbsp;&nbsp;&nbsp;(Cost $104,619) ($ Thousands)  | $99728 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**New Jersey Municipal Bond Fund** (Concluded)

---

| | |
|:---|:---|
|  | Percentages are based on Net Assets of $99,536 ($ Thousands). |
| \*\* | The rate reported is the 7-day effective yield as of November 30, 2022. |
| <sup>†</sup> | Investment in Affiliated Security. |
| (A) | Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates. |
| (B) | Pre-Refunded Securities — The maturity date shown is the pre-refunded date. |
| (C) | Security is escrowed to maturity. |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| The following is a summary of the level of inputs used as of November 30, 2022, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands): | The following is a summary of the level of inputs used as of November 30, 2022, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands): | The following is a summary of the level of inputs used as of November 30, 2022, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands): | The following is a summary of the level of inputs used as of November 30, 2022, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands): | The following is a summary of the level of inputs used as of November 30, 2022, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands): |
| **Investments in Securities** | **Level 1<br> ($)** | **Level 2<br> ($)** | **Level 3<br> ($)** | **Total<br> ($)** |
| &nbsp;&nbsp;&nbsp;Municipal Bonds |  | 99471 |  | 99471 |
| &nbsp;&nbsp;&nbsp;Cash Equivalent | 257 | – |  | 257 |
| Total Investments in Securities | 257 | 99471 |  | 99728 |

---

For information on the Fund's policy regarding valuation of investments, fair value hierarchy levels and other significant accounting policies, please refer to Note 2 of the Fund's most recent financial statements.

The following is a summary of the transactions with affiliates for the period ended November 30, 2022 ($ Thousands):

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description**  | **Value 8/31/22** | **Purchases at Cost**  | **Proceeds from Sales**  | **Realized Gain (Loss)** | **Change in Unrealized Appreciation (Depreciation)** | **Value 11/30/22** | **Income**  | **Capital Gains** |
| SEI Daily Income Trust, Government Fund, Cl F | $&nbsp;&nbsp;&nbsp;&nbsp;1992 | $&nbsp;&nbsp;&nbsp;&nbsp;4067 | $&nbsp;&nbsp;&nbsp;&nbsp;(5802) | $&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;257 | $&nbsp;&nbsp;&nbsp;&nbsp;7 | $&nbsp;&nbsp;&nbsp;&nbsp;— |

---

Amounts designated as "—" are $0 or have been rounded to $0.

See "Glossary" for abbreviations.

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**New York Municipal Bond Fund** 

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS — 99.7%** | **MUNICIPAL BONDS — 99.7%** | **MUNICIPAL BONDS — 99.7%** |
| **New York — 99.7%** | **New York — 99.7%** |  |
| &nbsp;&nbsp;&nbsp;Broome County, Local Development, United Health Services Hospitals, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2030  | $900 | $994 |
| &nbsp;&nbsp;&nbsp;Buffalo, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2025  | 425 | 447 |
| &nbsp;&nbsp;&nbsp;Build NYC Resource, Manhattan College Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2026  | 350 | 370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2027  | 275 | 294 |
| &nbsp;&nbsp;&nbsp;Build NYC Resource, The Chapin School Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2026  | 500 | 543 |
| &nbsp;&nbsp;&nbsp;Dutchess County, Local Development, Nuvance Health, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2026  | 1000 | 1046 |
| &nbsp;&nbsp;&nbsp;Erie County, Industrial Development Agency, Buffalo School District Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2025  | 500 | 528 |
| &nbsp;&nbsp;&nbsp;Essex County, Industrial Development Agency, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.100%, 03/01/2027 (A) | 525 | 506 |
| &nbsp;&nbsp;&nbsp;Genesee County, Funding, Rochester Regional Health Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2032  | 650 | 703 |
| &nbsp;&nbsp;&nbsp;Hempstead, Local Development, Hofstra University Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2026  | 800 | 851 |
| &nbsp;&nbsp;&nbsp;Hudson Yards Infrastructure, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/15/2034  | 1970 | 2232 |
| &nbsp;&nbsp;&nbsp;Long Island, Power Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2026  | 1000 | 1082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2027  | 1000 | 1101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.000%, 09/01/2025  | 1000 | 914 |
| &nbsp;&nbsp;&nbsp;Long Island, Power Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2027  | 1000 | 1101 |
| &nbsp;&nbsp;&nbsp;Long Island, Power Authority, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2030  | 1500 | 1609 |
| &nbsp;&nbsp;&nbsp;Metropolitan New York, Transportation Authority, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2028  | 3000 | 3130 |
| &nbsp;&nbsp;&nbsp;Metropolitan New York, Transportation Authority, Ser C1, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2025  | 2000 | 2081 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2026  | 1000 | 1030 |
| &nbsp;&nbsp;&nbsp;Monroe County, Industrial Development Authority, Rochester Schools Modernization Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2026  | 1000 | 1075 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Monroe County, Industrial Development Authority, University of Rochester Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2025  | $750 | $792 |
| &nbsp;&nbsp;&nbsp;Monroe County, Industrial Development Authority, University of Rochester Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2026  | 1050 | 1128 |
| &nbsp;&nbsp;&nbsp;Nassau County, Interim Finance Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2030  | 2160 | 2525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 11/15/2032  | 1000 | 1097 |
| &nbsp;&nbsp;&nbsp;Nassau County, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2026  | 1000 | 1064 |
| &nbsp;&nbsp;&nbsp;Nassau County, Ser C, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2027  | 1000 | 1098 |
| &nbsp;&nbsp;&nbsp;New York & New Jersey, Port Authority, Ser 178, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2024  | 2000 | 2033 |
| &nbsp;&nbsp;&nbsp;New York & New Jersey, Port Authority, Ser 205, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2028  | 1685 | 1859 |
| &nbsp;&nbsp;&nbsp;New York & New Jersey, Port Authority, Ser 231ST, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2033  | 1500 | 1630 |
| &nbsp;&nbsp;&nbsp;New York City, Housing Development Authority, RB, FHA  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.600%, 05/01/2061 (A) | 500 | 461 |
| &nbsp;&nbsp;&nbsp;New York City, Industrial Development Agency, Queens Baseball Stadium Project, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2028  | 1000 | 1087 |
| &nbsp;&nbsp;&nbsp;New York City, Industrial Development Agency, Yankee Stadium Project, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2029  | 1750 | 1926 |
| &nbsp;&nbsp;&nbsp;New York City, Ser 1, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2028  | 1000 | 1094 |
| &nbsp;&nbsp;&nbsp;New York City, Ser A2, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2026  | 2000 | 2161 |
| &nbsp;&nbsp;&nbsp;New York City, Ser B-1, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2034  | 1745 | 1998 |
| &nbsp;&nbsp;&nbsp;New York City, Ser C, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2025  | 4150 | 4401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2032  | 3345 | 3812 |
| &nbsp;&nbsp;&nbsp;New York City, Ser C-1, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2027  | 1000 | 1098 |
| &nbsp;&nbsp;&nbsp;New York City, Ser F-1, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2029  | 1895 | 2129 |
| &nbsp;&nbsp;&nbsp;New York City, Sub-Ser I, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2028  | 1405 | 1559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2030  | 675 | 772 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**New York Municipal Bond Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;New York City, Transitional Finance Authority, Building Aid Revenue, Ser S-1, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/15/2026  | $500 | $524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/15/2028  | 1080 | 1186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/15/2031  | 1000 | 1172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/15/2033  | 1630 | 1861 |
| &nbsp;&nbsp;&nbsp;New York City, Water & Sewer System, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2031  | 2000 | 2343 |
| &nbsp;&nbsp;&nbsp;New York City, Water & Sewer System, Ser AA, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2027  | 1200 | 1319 |
| &nbsp;&nbsp;&nbsp;New York State, Dormitory Authority, Fordham University Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2023  | 500 | 507 |
| &nbsp;&nbsp;&nbsp;New York State, Dormitory Authority, Icahn School of Medicine at Mount Sanai Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2026  | 1000 | 1047 |
| &nbsp;&nbsp;&nbsp;New York State, Dormitory Authority, Memorial Sloan-Kettering Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2024  | 1000 | 1033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2027  | 500 | 548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2030  | 1095 | 1220 |
| &nbsp;&nbsp;&nbsp;New York State, Dormitory Authority, New York University Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2026  | 1720 | 1859 |
| &nbsp;&nbsp;&nbsp;New York State, Dormitory Authority, NYU Hospital Center Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2023  | 1000 | 1013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2024  | 1000 | 1034 |
| &nbsp;&nbsp;&nbsp;New York State, Dormitory Authority, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2026  | 495 | 536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2026 (B) | 5 | 5 |
| &nbsp;&nbsp;&nbsp;New York State, Dormitory Authority, Rochester Institute of Technology, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2033  | 1000 | 1169 |
| &nbsp;&nbsp;&nbsp;New York State, Dormitory Authority, School Districts Financing Program, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2026  | 1000 | 1079 |
| &nbsp;&nbsp;&nbsp;New York State, Dormitory Authority, School Districts Financing Program, Ser A, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2024  | 785 | 817 |
| &nbsp;&nbsp;&nbsp;New York State, Dormitory Authority, Ser 1, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/15/2027  | 1000 | 1084 |
| &nbsp;&nbsp;&nbsp;New York State, Dormitory Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/15/2025 (B) | 2000 | 2106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2025  | 500 | 530 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2026  | $1100 | $1176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2029  | 2500 | 2720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/15/2031  | 2000 | 2324 |
| &nbsp;&nbsp;&nbsp;New York State, Dormitory Authority, Ser A, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2030  | 1200 | 1364 |
| &nbsp;&nbsp;&nbsp;New York State, Dormitory Authority, Ser C, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/15/2026 (B) | 2400 | 2579 |
| &nbsp;&nbsp;&nbsp;New York State, Dormitory Authority, Ser E, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/15/2026 (B) | 2750 | 2954 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/15/2032  | 1500 | 1763 |
| &nbsp;&nbsp;&nbsp;New York State, Dormitory Authority, St. Johns University Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2027  | 1500 | 1608 |
| &nbsp;&nbsp;&nbsp;New York State, Dormitory Authority, St. Johns University Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2023  | 455 | 462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/2030  | 830 | 851 |
| &nbsp;&nbsp;&nbsp;New York State, Dormitory Authority, State University Dormitory Facilities Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2025  | 1000 | 1057 |
| &nbsp;&nbsp;&nbsp;New York State, Environmental Facilities Authority, Revolving Funds, Ser C, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/15/2028  | 850 | 937 |
| &nbsp;&nbsp;&nbsp;New York State, Mortgage Agency, Ser 189, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.250%, 10/01/2025  | 2500 | 2488 |
| &nbsp;&nbsp;&nbsp;New York State, Mortgage Agency, Ser 232, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2029  | 1700 | 1805 |
| &nbsp;&nbsp;&nbsp;New York State, Thruway Authority, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2029  | 1100 | 1222 |
| &nbsp;&nbsp;&nbsp;New York State, Thruway Authority, Ser L, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2027  | 1000 | 1084 |
| &nbsp;&nbsp;&nbsp;New York State, Transportation Development, JFK International Airport Project, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2032  | 1000 | 1041 |
| &nbsp;&nbsp;&nbsp;New York State, Transportation Development, JFK International Airport Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2030  | 1000 | 1064 |
| &nbsp;&nbsp;&nbsp;New York State, Transportation Development, LaGuardia Airport Terminal B Redevelopment Project, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2030  | 1275 | 1295 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**New York Municipal Bond Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;New York State, Urban Development, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/15/2025  | $1695 | $1782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/15/2025 (B) | 5 | 5 |
| &nbsp;&nbsp;&nbsp;New York State, Urban Development, Ser E, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/15/2032  | 1615 | 1833 |
| &nbsp;&nbsp;&nbsp;Onondaga Civic Development, Syracuse University Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2029  | 600 | 684 |
| &nbsp;&nbsp;&nbsp;Oyster Bay, GO, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 03/01/2028  | 825 | 872 |
| &nbsp;&nbsp;&nbsp;Oyster Bay, GO, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 11/01/2026  | 800 | 836 |
| &nbsp;&nbsp;&nbsp;Schenectady County, Capital Resource, Union College Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2032  | 700 | 805 |
| &nbsp;&nbsp;&nbsp;Suffolk County, Ser A, GO, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2026  | 1200 | 1281 |
| &nbsp;&nbsp;&nbsp;Suffolk County, Ser D, GO, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/15/2024  | 2000 | 2083 |
| &nbsp;&nbsp;&nbsp;Triborough, Bridge & Tunnel Authority, MTA Bridges & Tunnels, Ser 2017C, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2028  | 2000 | 2250 |
| &nbsp;&nbsp;&nbsp;Triborough, Bridge & Tunnel Authority, Sales Tax Revenue, MTA Bridges & Tunnels, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2035  | 500 | 569 |
| &nbsp;&nbsp;&nbsp;TSASC, Tobacco Settlement Bonds, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2025  | 750 | 778 |
| &nbsp;&nbsp;&nbsp;Westchester County, Local Development, Miriam Osborn Memorial Home Association Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2025  | 260 | 270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2026  | 300 | 315 |
| &nbsp;&nbsp;&nbsp;Westchester County, Tobacco Asset Securitization, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2024  | 1800 | 1841 |
| Total Municipal Bonds |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $133,195) ($ Thousands) |  | 127351 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **CASH EQUIVALENT — 0.1%** | **CASH EQUIVALENT — 0.1%** | **CASH EQUIVALENT — 0.1%** |
| &nbsp;&nbsp;&nbsp;SEI Daily Income Trust, Government Fund, Cl F |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.370%\*\*<sup>†</sup> | 99009 | $99 |
| Total Cash Equivalent |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $99) ($ Thousands) |  | 99 |
| Total Investments in Securities — 99.8% |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $133,294) ($ Thousands)  | &nbsp;&nbsp;&nbsp;(Cost $133,294) ($ Thousands)  | $127450 |

---

---

| | |
|:---|:---|
|  | Percentages are based on Net Assets of $127,664 ($ Thousands). |
| \*\* | The rate reported is the 7-day effective yield as of November 30, 2022. |
| <sup>†</sup> | Investment in Affiliated Security. |
| (A) | Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates. |
| (B) | Security is escrowed to maturity. |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| The following is a summary of the level of inputs used as of November 30, 2022, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands): | The following is a summary of the level of inputs used as of November 30, 2022, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands): | The following is a summary of the level of inputs used as of November 30, 2022, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands): | The following is a summary of the level of inputs used as of November 30, 2022, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands): | The following is a summary of the level of inputs used as of November 30, 2022, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands): |
| **Investments in Securities** | **Level 1<br> ($)** | **Level 2<br> ($)** | **Level 3<br> ($)** | **Total<br> ($)** |
| &nbsp;&nbsp;&nbsp;Municipal Bonds |  | 127351 |  | 127351 |
| &nbsp;&nbsp;&nbsp;Cash Equivalent | 99 | – |  | 99 |
| Total Investments in Securities | 99 | 127351 |  | 127450 |

---

For information on the Fund's policy regarding valuation of investments, fair value hierarchy levels and other significant accounting policies, please refer to Note 2 of the Fund's most recent financial statements.

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**New York Municipal Bond Fund** (Concluded)

The following is a summary of the transactions with affiliates for the period ended November 30, 2022 ($ Thousands):

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description**  | **Value 8/31/22** | **Purchases at Cost**  | **Proceeds from Sales**  | **Realized Gain/ (Loss)** | **Change in Unrealized Appreciation/ (Depreciation)** | **Value 11/30/22** | **Income**  | **Capital Gains** |
| SEI Daily Income Trust, Government Fund, Cl F | $&nbsp;&nbsp;&nbsp;&nbsp;314 | $&nbsp;&nbsp;&nbsp;&nbsp;9852 | $&nbsp;&nbsp;&nbsp;&nbsp;(10067) | $&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;99 | $&nbsp;&nbsp;&nbsp;&nbsp;5 | $&nbsp;&nbsp;&nbsp;&nbsp;— |

---

Amounts designated as "—" are $0 or have been rounded to $0.

See "Glossary" for abbreviations.

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Pennsylvania Municipal Bond Fund** 

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS — 98.6%** | **MUNICIPAL BONDS — 98.6%** | **MUNICIPAL BONDS — 98.6%** |
| **Pennsylvania — 98.6%** | **Pennsylvania — 98.6%** |  |
| &nbsp;&nbsp;&nbsp;Allegheny County, Airport Authority, Ser A, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2031  | $1325 | $1438 |
| &nbsp;&nbsp;&nbsp;Allegheny County, Higher Education Building Authority, Carnegie Mellon University, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2027  | 1500 | 1647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2030  | 500 | 570 |
| &nbsp;&nbsp;&nbsp;Allegheny County, Higher Education Building Authority, Duquesne University, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2026  | 550 | 583 |
| &nbsp;&nbsp;&nbsp;Allegheny County, Hospital Development Authority, Allegheny Health Network, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2028  | 2500 | 2686 |
| &nbsp;&nbsp;&nbsp;Allegheny County, Hospital Development Authority, UPMC Health Center Project, Ser B, RB, NATL  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 07/01/2023  | 1000 | 1019 |
| &nbsp;&nbsp;&nbsp;Allegheny County, Hospital Development Authority, UPMC, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/15/2029  | 2000 | 2210 |
| &nbsp;&nbsp;&nbsp;Allegheny County, Port Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2029  | 1000 | 1116 |
| &nbsp;&nbsp;&nbsp;Allegheny County, Ser C-75, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2024  | 750 | 783 |
| &nbsp;&nbsp;&nbsp;Allentown, City School District, Ser B, GO, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2029  | 1750 | 1937 |
| &nbsp;&nbsp;&nbsp;Berks County, Industrial Development Authority, Health Care Facilities, The Highlands At Wyomissing, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2033  | 525 | 527 |
| &nbsp;&nbsp;&nbsp;Bethel Park, School District, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2027  | 1000 | 1079 |
| &nbsp;&nbsp;&nbsp;Chester County, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/15/2029  | 300 | 321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/15/2030  | 250 | 267 |
| &nbsp;&nbsp;&nbsp;Chester County, Health & Education Facilities Authority, Main Line Health Systems, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2028  | 175 | 194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2029  | 375 | 421 |
| &nbsp;&nbsp;&nbsp;Chester County, School Authority, Chester County Intermediate Unit Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2028  | 1000 | 1064 |
| &nbsp;&nbsp;&nbsp;Cumberland County, Municipal Authority, Penn State Health, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2029  | 780 | 857 |
| &nbsp;&nbsp;&nbsp;Dallastown Area, School District, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/15/2026  | 1000 | 1053 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Daniel Boone, Area School District, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 100  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2025 (A) | $220 | $232 |
| &nbsp;&nbsp;&nbsp;Daniel Boone, Area School District, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2026  | 780 | 821 |
| &nbsp;&nbsp;&nbsp;Dauphin County, General Authority, Pinnacle Health System Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2024  | 600 | 617 |
| &nbsp;&nbsp;&nbsp;Delaware County, Cabrini University Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2027  | 500 | 504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2028  | 500 | 503 |
| &nbsp;&nbsp;&nbsp;Delaware County, Regional Water Quality Control Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2025  | 625 | 663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2026  | 425 | 459 |
| &nbsp;&nbsp;&nbsp;Delaware River, Joint Toll Bridge Commission, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2029  | 1015 | 1113 |
| &nbsp;&nbsp;&nbsp;Delaware River, Joint Toll Bridge Commission, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2027  | 1300 | 1425 |
| &nbsp;&nbsp;&nbsp;Delaware River, Port Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2028  | 1000 | 1100 |
| &nbsp;&nbsp;&nbsp;East Hempfield Township, Industrial Development Authority, Willow Valley Communities Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2025  | 645 | 674 |
| &nbsp;&nbsp;&nbsp;Fairview, School District, GO, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/15/2029  | 500 | 565 |
| &nbsp;&nbsp;&nbsp;Geisinger, Health System Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2043 (B) | 1000 | 1057 |
| &nbsp;&nbsp;&nbsp;Gettysburg Area, School District, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/15/2025  | 1000 | 1045 |
| &nbsp;&nbsp;&nbsp;Lackawanna County, GO, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2024  | 1000 | 1037 |
| &nbsp;&nbsp;&nbsp;Lancaster County, Hospital Authority, Masonic Villages of Grand Lodge Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2023  | 800 | 812 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2028  | 1360 | 1432 |
| &nbsp;&nbsp;&nbsp;Lancaster County, Hospital Authority, University of Pennsylvania Health System Project, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2026  | 500 | 539 |
| &nbsp;&nbsp;&nbsp;Lancaster, Higher Education Authority, Harrisburg Area Community College Project, RB, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/01/2030  | 400 | 415 |
| &nbsp;&nbsp;&nbsp;Lehigh County, General Purpose Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 06/01/2031  | 1225 | 1208 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Pennsylvania Municipal Bond Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Lehigh County, Lehigh Valley Health, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2024  | $1300 | $1341 |
| &nbsp;&nbsp;&nbsp;Luzerne County, Industrial Development Authority, America Water Project, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.450%, 12/01/2039 (B) | 1700 | 1530 |
| &nbsp;&nbsp;&nbsp;Lycoming County, College Revenue Authority, Pennsylvania College of Technology Project, RB, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2030  | 900 | 1008 |
| &nbsp;&nbsp;&nbsp;Mifflin County, School District, Ser A, GO, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2025  | 1885 | 1976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2026  | 690 | 724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2027  | 660 | 691 |
| &nbsp;&nbsp;&nbsp;Montgomery County, Higher Education & Health Authority, Thomas Jefferson University Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2025  | 500 | 526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2028  | 1500 | 1628 |
| &nbsp;&nbsp;&nbsp;Montgomery County, Industrial Development Authority, Retirement Communities Revenue, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2036  | 750 | 750 |
| &nbsp;&nbsp;&nbsp;Montgomery County, Ser C, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2030  | 500 | 571 |
| &nbsp;&nbsp;&nbsp;Moon Area, School District, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2025  | 1000 | 1044 |
| &nbsp;&nbsp;&nbsp;Mount Lebanon, Hospital Authority, St. Clair Memorial Hospital Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2027  | 400 | 435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2029  | 350 | 386 |
| &nbsp;&nbsp;&nbsp;Octorara Area, School District, GO, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 04/01/2029  | 900 | 957 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State University, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2026  | 500 | 540 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Commonwealth Financing Authority, Tobacco Master Settlement, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2028  | 2500 | 2741 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Economic Development Financing Authority, Solid Waste Disposal Management Project, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.150%, 07/01/2041 (B) | 1000 | 966 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Economic Development Financing Authority, UPMC, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/15/2026  | 1000 | 1061 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Economic Development Financing Authority, UPMC, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2025  | 1000 | 1034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/15/2029  | 750 | 831 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/15/2030  | $925 | $1037 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/15/2024  | 1300 | 1356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2026  | 5000 | 5337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2030  | 1000 | 1144 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Higher Educational Facilities Authority, Drexel University, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2027  | 1150 | 1235 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Higher Educational Facilities Authority, Ser A, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2027  | 750 | 814 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Higher Educational Facilities Authority, State System of Higher Education, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2026  | 1000 | 1071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2028  | 1500 | 1634 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Higher Educational Facilities Authority, State System of Higher Education, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2026  | 1500 | 1607 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Higher Educational Facilities Authority, Trustees of the University of Pennsylvania, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/15/2027  | 860 | 939 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Higher Educational Facilities Authority, University of Pennsylvania Health System, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2027  | 1000 | 1098 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Housing Finance Agency, Ser 133, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2029  | 500 | 552 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Housing Finance Agency, Ser 2022-139A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 10/01/2052  | 2000 | 2011 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Infrastructure Investment Authority, Federal Clean Water and Drinking Water SRF Loan Pool Program, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/15/2028  | 3000 | 3335 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Public School Building Authority, City of Harrisburg, Ser S, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2027  | 1000 | 1067 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Public School Building Authority, Lehigh Career & Technical Institute Project, RB, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2027  | 1635 | 1728 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Ser A, COP  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2027  | 500 | 543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2028  | 400 | 439 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Pennsylvania Municipal Bond Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Turnpike Commission, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2027  | $325 | $353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2029  | 700 | 793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2030  | 1875 | 2176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2031  | 1000 | 1153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2032  | 2000 | 2323 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Turnpike Commission, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2025  | 600 | 640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2032  | 1550 | 1777 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2033  | 375 | 436 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Turnpike Commission, Ser C, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2032  | 500 | 574 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Turnpike Commission, Sub-Ser, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2028  | 500 | 549 |
| &nbsp;&nbsp;&nbsp;Philadelphia, Airport Revenue Authority, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2031  | 1100 | 1197 |
| &nbsp;&nbsp;&nbsp;Philadelphia, Airport Revenue Authority, Ser A, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2026  | 1000 | 1034 |
| &nbsp;&nbsp;&nbsp;Philadelphia, Airport Revenue Authority, Ser B, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2027  | 2500 | 2648 |
| &nbsp;&nbsp;&nbsp;Philadelphia, Authority for Industrial Development, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2029  | 1000 | 1111 |
| &nbsp;&nbsp;&nbsp;Philadelphia, Gas Works Revenue Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2025  | 1290 | 1357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2026  | 2200 | 2306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2027  | 1705 | 1835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2029  | 2000 | 2119 |
| &nbsp;&nbsp;&nbsp;Philadelphia, Gas Works Revenue Authority, Ser A, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2031  | 1000 | 1118 |
| &nbsp;&nbsp;&nbsp;Philadelphia, GO, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2027  | 750 | 822 |
| &nbsp;&nbsp;&nbsp;Philadelphia, Industrial Development Authority, National Board of Medical Examiners Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2028  | 1005 | 1078 |
| &nbsp;&nbsp;&nbsp;Philadelphia, Industrial Development Authority, Temple University Project, Ser 2015, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2025  | 1000 | 1050 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Philadelphia, Industrial Development Authority, The Children's Hospital of Philadelphia Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2027  | $400 | $436 |
| &nbsp;&nbsp;&nbsp;Philadelphia, School District, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2027  | 2850 | 3066 |
| &nbsp;&nbsp;&nbsp;Philadelphia, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2026  | 1000 | 1069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2027  | 1000 | 1079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2028  | 1000 | 1088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2031  | 1000 | 1121 |
| &nbsp;&nbsp;&nbsp;Philadelphia, Water & Wastewater Revenue Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2032  | 1250 | 1417 |
| &nbsp;&nbsp;&nbsp;Philadelphia, Water & Wastewater Revenue Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2027  | 725 | 792 |
| &nbsp;&nbsp;&nbsp;Philadelphia, Water & Wastewater Revenue Authority, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2026  | 475 | 511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2027  | 1800 | 1968 |
| &nbsp;&nbsp;&nbsp;Philadelphia, Water & Wastewater Revenue Authority, Ser C, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2031  | 2250 | 2582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2034  | 800 | 919 |
| &nbsp;&nbsp;&nbsp;Pittsburgh & Allegheny County, Sports & Exhibition Parking Authority, RB, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/15/2027  | 1000 | 1097 |
| &nbsp;&nbsp;&nbsp;Pittsburgh & Allegheny County, Sports & Exhibition Parking Authority, Ser A, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2033  | 1000 | 1114 |
| &nbsp;&nbsp;&nbsp;Pittsburgh, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2027  | 415 | 455 |
| &nbsp;&nbsp;&nbsp;Pittsburgh, Public Parking Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 100  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2025 (A) | 415 | 438 |
| &nbsp;&nbsp;&nbsp;Pittsburgh, Public Parking Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2025  | 645 | 672 |
| &nbsp;&nbsp;&nbsp;Pittsburgh, School District, GO, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2025  | 1000 | 1051 |
| &nbsp;&nbsp;&nbsp;Pittsburgh, Water & Sewer Authority, Ser A, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2026  | 2000 | 2152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2029  | 750 | 845 |
| &nbsp;&nbsp;&nbsp;Pittsburgh, Water & Sewer Authority, Ser B, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2029  | 450 | 507 |
| &nbsp;&nbsp;&nbsp;Quaker Valley, School District, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2030  | 250 | 287 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Pennsylvania Municipal Bond Fund** (Concluded)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2031  | $325 | $373 |
| &nbsp;&nbsp;&nbsp;Seneca Valley, School District, Ser C, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2027  | 1000 | 1049 |
| &nbsp;&nbsp;&nbsp;Souderton Area, School District, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2024  | 1000 | 1041 |
| &nbsp;&nbsp;&nbsp;Southcentral Pennsylvania, General Revenue Authority, Wellspan Health Obligated, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2024  | 535 | 553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2025  | 500 | 526 |
| &nbsp;&nbsp;&nbsp;Southeastern Pennsylvania, Transportation Authority, Asset Improvement Program, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2032  | 1000 | 1161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2033  | 1000 | 1155 |
| &nbsp;&nbsp;&nbsp;Southeastern Pennsylvania, Transportation Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2026  | 1620 | 1731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2027  | 1000 | 1088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2028  | 725 | 793 |
| &nbsp;&nbsp;&nbsp;State College Area, School District, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2028  | 280 | 313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2029  | 375 | 419 |
| &nbsp;&nbsp;&nbsp;Unionville-Chadds Ford, School District, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2026  | 1000 | 1076 |
| &nbsp;&nbsp;&nbsp;University of Pittsburgh, Commonwealth System of Higher Education, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 04/15/2026  | 1225 | 1272 |
| &nbsp;&nbsp;&nbsp;Westmoreland County, Municipal Authority, RB, BAM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2024  | 1000 | 1036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2026  | 1610 | 1712 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Wilkes-Barre, Finance Authority, University of Scranton Project, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2025  | $| 1000 | $1049 |
| Total Municipal Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $159,647) ($ Thousands) |  |  | 153142 |
|  | <br> Shares | <br> Shares |  |
| **CASH EQUIVALENT — 0.8%** | **CASH EQUIVALENT — 0.8%** | **CASH EQUIVALENT — 0.8%** | **CASH EQUIVALENT — 0.8%** |
| &nbsp;&nbsp;&nbsp;SEI Daily Income Trust, Government Fund, Cl F |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.370%\*\*<sup>†</sup> |  | 1290944 | 1291 |
| Total Cash Equivalent |  |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $1,291) ($ Thousands) |  |  | 1291 |
| Total Investments in Securities — 99.4% |  |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $160,938) ($ Thousands)  | &nbsp;&nbsp;&nbsp;(Cost $160,938) ($ Thousands)  | &nbsp;&nbsp;&nbsp;(Cost $160,938) ($ Thousands)  | $154433 |

---

---

| | |
|:---|:---|
|  | Percentages are based on Net Assets of $155,347 ($ Thousands). |
| <sup>†</sup> | Investment in Affiliated Security. |
| \*\* | The rate reported is the 7-day effective yield as of November 30, 2022. |
| (A) | Pre-Refunded Securities — The maturity date shown is the pre-refunded date. |
| (B) | Variable or floating rate security, the interest rate of which adjusts periodically based on prevailing interest rates. |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| The following is a summary of the level of inputs used as of November 30, 2022, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands): | The following is a summary of the level of inputs used as of November 30, 2022, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands): | The following is a summary of the level of inputs used as of November 30, 2022, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands): | The following is a summary of the level of inputs used as of November 30, 2022, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands): | The following is a summary of the level of inputs used as of November 30, 2022, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands): |
| **Investments in Securities** | **Level 1<br> ($)** | **Level 2<br> ($)** | **Level 3<br> ($)** | **Total<br> ($)** |
| &nbsp;&nbsp;&nbsp;Municipal Bonds |  | 153142 |  | 153142 |
| &nbsp;&nbsp;&nbsp;Cash Equivalent | 1291 | – |  | 1291 |
| Total Investments in Securities | 1291 | 153142 |  | 154433 |

---

For information on the Fund's policy regarding valuation of investments, fair value hierarchy levels and other significant accounting policies, please refer to Note 2 of the Fund's most recent financial statements.

The following is a summary of the transactions with affiliates for the period ended November 30, 2022 ($ Thousands):

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description**  | **Value 8/31/22** | **Purchases at Cost**  | **Proceeds from Sales**  | **Realized Gain/ (Loss)** | **Change in Unrealized Appreciation/ (Depreciation)** | **Value 11/30/22** | **Income**  | **Capital Gains** |
| SEI Daily Income Trust, Government Fund, Cl F | $&nbsp;&nbsp;&nbsp;&nbsp;1913 | $&nbsp;&nbsp;&nbsp;&nbsp;10514 | $&nbsp;&nbsp;&nbsp;&nbsp;(11136) | $&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;1291 | $&nbsp;&nbsp;&nbsp;&nbsp;12 | $&nbsp;&nbsp;&nbsp;&nbsp;— |

---

Amounts designated as "—" are $0 or have been rounded to $0.

See "Glossary" for abbreviations.

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Tax-Advantaged Income Fund** 

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS — 70.7%** | **MUNICIPAL BONDS — 70.7%** | **MUNICIPAL BONDS — 70.7%** |
| **Alabama — 2.6%** | **Alabama — 2.6%** |  |
| &nbsp;&nbsp;&nbsp;Alabama State, Special Care Facilities Financing Authority, Methodist Home for the Aging Project, Ser S, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.750%, 06/01/2045  | $800 | $707 |
| &nbsp;&nbsp;&nbsp;Black Belt, Energy Gas District, Ser E, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2053 (A) | 3250 | 3389 |
| &nbsp;&nbsp;&nbsp;Black Belt, Energy Gas District, Sub-Ser, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.953%, 07/01/2052 (A) | 1000 | 987 |
| &nbsp;&nbsp;&nbsp;Central Etowah County, Solid Waste Disposal Authority, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 103  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 07/01/2025 (B)(C) | 795 | 856 |
| &nbsp;&nbsp;&nbsp;Jefferson County, Sewer Revenue Authority, Ser D, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 10/01/2053  | 12000 | 12867 |
| &nbsp;&nbsp;&nbsp;Lower Alabama, Gas District, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2046  | 1500 | 1545 |
| &nbsp;&nbsp;&nbsp;Southeast Alabama, Gas Supply District, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 06/01/2049 (A) | 1565 | 1562 |
| &nbsp;&nbsp;&nbsp;Tuscaloosa County, Industrial Development Authority, Hunt Refining Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 05/01/2032 (C) | 855 | 733 |
| &nbsp;&nbsp;&nbsp;Tuscaloosa County, Industrial Development Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 05/01/2044 (C) | 6065 | 5018 |
|  |  | 27664 |
| **Alaska — 0.3%** | **Alaska — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;Alaska State, Industrial Development & Export Authority, Boys & Girls Home Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 12/01/2036 (D) | 200 | 1 |
| &nbsp;&nbsp;&nbsp;Anchorage, Solid Waste Services Revenue, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 11/01/2062  | 3480 | 3662 |
|  |  | 3663 |
| **Arizona — 1.1%** | **Arizona — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;Arizona State, Industrial Development Authority, Basis Schools Projects, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.375%, 07/01/2050 (C) | 1090 | 1050 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Arizona State, Industrial Development Authority, Great Lakes Senior Living Community, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2037  | $| 1000 | $712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2038  |  | 675 | 481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 01/01/2040  |  | 965 | 562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 01/01/2049  |  | 1000 | 592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 01/01/2039  |  | 1000 | 642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 01/01/2040  |  | 750 | 474 |
| &nbsp;&nbsp;&nbsp;Arizona State, Industrial Development Authority, Legacy Cares Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.750%, 07/01/2050 (C) |  | 3000 | 2100 |
| &nbsp;&nbsp;&nbsp;Arizona State, Industrial Development Authority, Master Academy Mountain Vista Campus Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 12/15/2038 (C) |  | 1510 | 1513 |
| &nbsp;&nbsp;&nbsp;La Paz County, Industrial Development Authority, Charter School Solutions-Harmony Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/15/2028  |  | 400 | 410 |
| &nbsp;&nbsp;&nbsp;Maricopa County, Industrial Development Authority, Honor Health Project, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.125%, 09/01/2042  |  | 2500 | 2413 |
| &nbsp;&nbsp;&nbsp;Pima County, Industrial Development Authority, Paideia Academics Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 07/01/2049  |  | 1050 | 928 |
| &nbsp;&nbsp;&nbsp;Pima County, Industrial Development Authority, Tucson Country Day School Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2037  |  | 265 | 227 |
|  |  |  | 12104 |
| **Arkansas — 0.4%** | **Arkansas — 0.4%** | **Arkansas — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;Arkansas State, Development Finance Authority, Big River Steel Project, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 09/01/2049 (C) |  | 4250 | 3806 |
| &nbsp;&nbsp;&nbsp;Cabot, Sales & Use Tax, Refunding and Improvement, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2022  |  | 100 | 100 |
|  |  |  | 3906 |
| **California — 9.0%** | **California — 9.0%** | **California — 9.0%** |  |
| &nbsp;&nbsp;&nbsp;Alameda Corridor, Transportation Authority, Ser A-CONV, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 10/01/2048 (E)(F) |  | 2000 | 962 |
| &nbsp;&nbsp;&nbsp;California State, Community Choice Financing Authority, Clean Energy Project, Ser B-1, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 02/01/2052 (A) |  | 5000 | 4933 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Tax-Advantaged Income Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;California State, Community Housing Agency, Annadel Apartments, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2049 (C) | $1000 | $852 |
| &nbsp;&nbsp;&nbsp;California State, Community Housing Agency, Serenity at Larkspur, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2050 (C) | 1000 | 874 |
| &nbsp;&nbsp;&nbsp;California State, Community Housing Agency, Verdant at Green Valley Project, Ser S, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2049 (C) | 1000 | 875 |
| &nbsp;&nbsp;&nbsp;California State, Educational Facilities Authority, Loma Linda University, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/2042  | 5200 | 5470 |
| &nbsp;&nbsp;&nbsp;California State, Infrastructure & Economic Development Bank, Wonderful Foundations, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 01/01/2035 (G) | 930 | 366 |
| &nbsp;&nbsp;&nbsp;California State, Municipal Finance Authority, California Baptist University Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2046 (C) | 1000 | 980 |
| &nbsp;&nbsp;&nbsp;California State, Municipal Finance Authority, Palomar Health, Ser A, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 11/01/2052  | 1500 | 1584 |
| &nbsp;&nbsp;&nbsp;California State, Pollution Control Financing Authority, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.500%, 12/01/2040 (C) | 750 | 492 |
| &nbsp;&nbsp;&nbsp;California State, Pollution Control Financing Authority, Calplant I Project, Sub-Ser, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.500%, 12/01/2039 (C)(D) | 3500 | 175 |
| &nbsp;&nbsp;&nbsp;California State, Pollution Control Financing Authority, Rialto Bioenergy Facility Project, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.750%, 12/01/2028 (C) | 2180 | 1554 |
| &nbsp;&nbsp;&nbsp;California State, Pollution Control Financing Authority, San Jose Water Project, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 11/01/2046  | 1500 | 1517 |
| &nbsp;&nbsp;&nbsp;California State, Pollution Control Financing Authority, Waste Management Project, Ser A3, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.300%, 07/01/2040  | 1500 | 1466 |
| &nbsp;&nbsp;&nbsp;California State, Public Finance Authority, Enso Village Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2046 (C) | 500 | 423 |
| &nbsp;&nbsp;&nbsp;California State, School Finance Authority, Downtown Prep-Obligated Group, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2046 (C) | 1000 | 891 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2051 (C) | 1000 | 875 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;California State, Statewide Communities Development Authority, Essential Housing, Waterscape Apartments, Ser B-MEZZ, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 09/01/2046 (C) | $425 | $322 |
| &nbsp;&nbsp;&nbsp;California State, Statewide Communities Development Authority, Loma Linda University Medical Center Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 12/01/2056 (C) | 2150 | 2138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2041 (C) | 2500 | 2499 |
| &nbsp;&nbsp;&nbsp;California State, Statewide Communities Development Authority, Pasadena Portfolio, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 09/01/2062 (C)(E)(F) | 7800 | 3689 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2037 (C) | 2900 | 2685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/2056 (C) | 1750 | 1282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2056 (C) | 500 | 347 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 02/01/2057 (C) | 1000 | 679 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 04/01/2057 (C) | 500 | 335 |
| &nbsp;&nbsp;&nbsp;California State, Statewide Financing Authority, Tobacco Settlement, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 05/01/2037  | 6000 | 6104 |
| &nbsp;&nbsp;&nbsp;CMFA, Special Finance Agency, Solana at Grand, Ser A-2-JUNIOR, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/2045 (C) | 1100 | 843 |
| &nbsp;&nbsp;&nbsp;CSCDA, Community Improvement Authority, MODA at Monrovia Station, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.400%, 10/01/2046 (C) | 1000 | 741 |
| &nbsp;&nbsp;&nbsp;CSCDA, Community Improvement Authority, Pasadena Portfolio, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.650%, 12/01/2046 (C) | 2230 | 1688 |
| &nbsp;&nbsp;&nbsp;Fremont, Community Facilities District No. 1, Pacific Commons Project, SAB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2040  | 2000 | 2031 |
| &nbsp;&nbsp;&nbsp;Golden State, Tobacco Securitization Project, Sub-Ser B-2, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 06/01/2066 (G) | 43000 | 4610 |
| &nbsp;&nbsp;&nbsp;Golden State, Tobacco Securitization, Sub-Ser, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.850%, 06/01/2050  | 2500 | 2253 |
| &nbsp;&nbsp;&nbsp;Long Beach, Towne Center Project, SAB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.400%, 10/01/2023  | 650 | 655 |
| &nbsp;&nbsp;&nbsp;Los Angeles, Department of Water & Power, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2041  | 10000 | 11060 |
| &nbsp;&nbsp;&nbsp;Morongo, Band of Mission Indians, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2042 (C) | 1000 | 1001 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Tax-Advantaged Income Fund** (Continued)

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;M-S-R, Energy Authority, Ser C, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 11/01/2039  | $| 5885 | $7133 |
| &nbsp;&nbsp;&nbsp;Northern California, Tobacco Securitization Authority, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 06/01/2060 (G) |  | 10040 | 1542 |
| &nbsp;&nbsp;&nbsp;Palomar, Community College District, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.836%, 08/01/2029  |  | 7000 | 5777 |
| &nbsp;&nbsp;&nbsp;Poway, School Facilities Improvement Authority, Unified School District Capital Appreciation Project, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 08/01/2038 (G) |  | 5410 | 2821 |
| &nbsp;&nbsp;&nbsp;Roseville, West Park Community Facilities Authority, SAB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2030  |  | 1000 | 1034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2031  |  | 1000 | 1033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2032  |  | 1000 | 1032 |
| &nbsp;&nbsp;&nbsp;San Clemente, Special Tax Community, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2046  |  | 1085 | 1097 |
| &nbsp;&nbsp;&nbsp;San Francisco City & County, Successor Redevelopment Agency, Mission Bays Public Improvement Project, SAB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2030  |  | 1000 | 1001 |
| &nbsp;&nbsp;&nbsp;Southern California, Tobacco Securitization Authority, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 06/01/2054 (G) |  | 5700 | 1022 |
| &nbsp;&nbsp;&nbsp;Southern California, Tobacco Securitization Authority, Sub-Ser, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 06/01/2046 (G) |  | 12000 | 2145 |
| &nbsp;&nbsp;&nbsp;Tustin, Community Facilities District, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2040  |  | 750 | 762 |
| &nbsp;&nbsp;&nbsp;Windsor, Unified School District, Election 2008, Ser D, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 08/01/2035 (G) |  | 1800 | 1074 |
|  |  |  | 96724 |
| **Colorado — 2.1%** | **Colorado — 2.1%** | **Colorado — 2.1%** |  |
| &nbsp;&nbsp;&nbsp;Aurora, Harvest Crossing Metropolitan District No. 4, Ser A, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.250%, 12/01/2052  |  | 1500 | 1410 |
| &nbsp;&nbsp;&nbsp;Aviation Station North, Metropolitan District No. 2, Ser A, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2039  |  | 500 | 462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2048  |  | 500 | 434 |
| &nbsp;&nbsp;&nbsp;Berthoud-Heritage, Metropolitan District No. 10, Ser A, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 12/01/2052  |  | 500 | 386 |
| &nbsp;&nbsp;&nbsp;Brighton Crossing, Metropolitan District No. 4, Ser A, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2037  |  | 525 | 508 |
| &nbsp;&nbsp;&nbsp;Broadway Station, Metropolitan District No. 3, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2049  |  | 500 | 401 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Chambers Highpoint, Metropolitan District No. 2, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2041  | $515 | $459 |
| &nbsp;&nbsp;&nbsp;Colorado International Center Metropolitan, District No. 7, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 12/01/2051 (E)(F) | 2000 | 1028 |
| &nbsp;&nbsp;&nbsp;Colorado State, Educational & Cultural Facilities Authority, New Summit Charter Acadamy Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/2061 (C) | 600 | 422 |
| &nbsp;&nbsp;&nbsp;Colorado State, Health Facilities Authority, Commonspirit Health, Ser A-, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/2044  | 5000 | 4337 |
| &nbsp;&nbsp;&nbsp;Colorado State, Public Energy Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.250%, 11/15/2028  | 650 | 695 |
| &nbsp;&nbsp;&nbsp;Denver City & County, Airport System Revenue Authority, Ser A, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2029  | 2000 | 2176 |
| &nbsp;&nbsp;&nbsp;Denver, International Business Center Metropolitan District No. 1, Sub-Ser B, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 12/01/2048  | 1145 | 1117 |
| &nbsp;&nbsp;&nbsp;Dominion, Water & Sanitation District, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.875%, 12/01/2052  | 4000 | 3866 |
| &nbsp;&nbsp;&nbsp;Great Western, Metropolitan District, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 12/01/2050  | 1000 | 838 |
| &nbsp;&nbsp;&nbsp;Hogback, Metropolitan District, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2051  | 590 | 496 |
| &nbsp;&nbsp;&nbsp;Prairie Center, Metropolitan District No. 3, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/15/2041 (C) | 875 | 815 |
| &nbsp;&nbsp;&nbsp;Pronghorn Valley, Metropolitan District, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2051  | 250 | 183 |
| &nbsp;&nbsp;&nbsp;Serenity Ridge, Metropolitan District No. 2, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 103  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.125%, 12/01/2023 (B) | 550 | 579 |
| &nbsp;&nbsp;&nbsp;Sterling Ranch, Community Authority Board, Sub-Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.500%, 12/15/2047  | 1090 | 1114 |
| &nbsp;&nbsp;&nbsp;Village at Dry Creek, Metropolitan District No. 2, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375%, 12/01/2044  | 776 | 636 |
| &nbsp;&nbsp;&nbsp;Westgate, Metropolitan District, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.125%, 12/01/2051  | 1000 | 830 |
| &nbsp;&nbsp;&nbsp;Whispering Pines, Metropolitan District No. 1, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2047  | 500 | 453 |
|  |  | 23645 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Tax-Advantaged Income Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| **Connecticut — 0.3%** | **Connecticut — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;Connecticut State, Health & Educational Facility Authority, Church Home of Hartford Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2046 (C) | $1000 | $902 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2053 (C) | 1500 | 1321 |
| &nbsp;&nbsp;&nbsp;New Haven, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2026  | 580 | 614 |
|  |  | 2837 |
| **Delaware — 1.1%** | **Delaware — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;Affordable Housing Opportunities Trust, Northwest One, Ser AH-07-CL, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.120%, 10/01/2038 (C) | 1935 | 1851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.167%, 10/01/2038 (A)(C) | 10965 | 9327 |
|  |  | 11178 |
| **Florida — 1.9%** | **Florida — 1.9%** |  |
| &nbsp;&nbsp;&nbsp;Atlantic Beach, Health Care, Fleet Landing Project, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.625%, 11/15/2043  | 1325 | 1333 |
| &nbsp;&nbsp;&nbsp;Capital Trust Agency, First Mortgage Revenue, Tapestry Walden Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.750%, 07/01/2037 (C)(D) | 1585 | 365 |
| &nbsp;&nbsp;&nbsp;Capital Trust Agency, H-Bay Ministries, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2053 (D) | 750 | 135 |
| &nbsp;&nbsp;&nbsp;Capital Trust Agency, Renaissance Charter School Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2049 (C) | 1000 | 861 |
| &nbsp;&nbsp;&nbsp;Capital Trust Agency, Wonderful Foundations Charter, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2055 (C) | 3500 | 2711 |
| &nbsp;&nbsp;&nbsp;Charlotte County, Industrial Development Authority, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/01/2051 (C) | 500 | 369 |
| &nbsp;&nbsp;&nbsp;Florida State, Development Finance, Global Reach Charter Acadamy Projects, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 06/30/2056 (C) | 765 | 512 |
| &nbsp;&nbsp;&nbsp;Florida State, Higher Educational Facilities Financial Authority, Jacksonville University, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 06/01/2033 (C) | 500 | 454 |
| &nbsp;&nbsp;&nbsp;Florida State, Village Community Development District No. 10, SAB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 05/01/2044  | 1865 | 1875 |
| &nbsp;&nbsp;&nbsp;Florida State, Village Community Development District No. 12, SAB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.250%, 05/01/2023 (C) | 320 | 319 |
| &nbsp;&nbsp;&nbsp;Highlands County, Health Facilities Authority, Senior Living Revenue, Trousdale Foundation Properties, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 04/01/2038 (D) | 400 | 150 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Miami-Dade County, Special Obligation, Sub-Ser, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 10/01/2032 (G) | $| 2900 | $1959 |
| &nbsp;&nbsp;&nbsp;Miami-Dade County, Transit System, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/2045  |  | 3000 | 2867 |
| &nbsp;&nbsp;&nbsp;Midtown Miami, Community Development District, Parking Garage Project, Ser A, SAB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2029  |  | 990 | 990 |
| &nbsp;&nbsp;&nbsp;Polk County, Industrial Development Authority, Mineral Development Project, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.875%, 01/01/2033 (C) |  | 3620 | 3618 |
| &nbsp;&nbsp;&nbsp;Sarasota County, Health Facilities Authority, Sunnyside Village Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2033  |  | 630 | 631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 05/15/2028  |  | 1205 | 1169 |
| &nbsp;&nbsp;&nbsp;Trout Creek, Community Development District, SAB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2028  |  | 355 | 358 |
|  |  |  | 20676 |
| **Georgia — 2.2%** | **Georgia — 2.2%** | **Georgia — 2.2%** |  |
| &nbsp;&nbsp;&nbsp;Gainesville & Hall County, Development Authority, Riverside Military Academy Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.125%, 03/01/2052  |  | 1620 | 1044 |
| &nbsp;&nbsp;&nbsp;Georgia State, Main Street Natural Gas, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2049  |  | 1000 | 1000 |
| &nbsp;&nbsp;&nbsp;Georgia State, Main Street Natural Gas, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2052 (A) |  | 6000 | 6189 |
| &nbsp;&nbsp;&nbsp;Georgia State, Municipal Electric Authority, Plant Voltage Units 3 & 4 Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 07/01/2063  |  | 5500 | 5650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2059  |  | 500 | 501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2060  |  | 5000 | 5002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2063  |  | 1700 | 1701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 01/01/2049  |  | 1000 | 900 |
|  |  |  | 21987 |
| **Idaho — 0.0%** | **Idaho — 0.0%** | **Idaho — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;Idaho State, Housing & Finance Association, Compass Charter School Project, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.625%, 07/01/2029 (C) |  | 335 | 339 |
| **Illinois — 7.1%** | **Illinois — 7.1%** | **Illinois — 7.1%** |  |
| &nbsp;&nbsp;&nbsp;Chicago, Board of Education, GO, NATL  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 12/01/2023 (G) |  | 545 | 525 |
| &nbsp;&nbsp;&nbsp;Chicago, Board of Education, Ser A, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2035  |  | 1500 | 1490 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Tax-Advantaged Income Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Chicago, Board of Education, Ser C, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 12/01/2035  | $2500 | $2514 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2026  | 1000 | 1012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2027  | 500 | 506 |
| &nbsp;&nbsp;&nbsp;Chicago, Board of Education, Ser D, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2046  | 5000 | 4692 |
| &nbsp;&nbsp;&nbsp;Chicago, Board of Education, Ser G, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2034  | 3000 | 2981 |
| &nbsp;&nbsp;&nbsp;Chicago, Neighborhoods Alive 21 Program, Ser 2002B, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 01/01/2034  | 1750 | 1765 |
| &nbsp;&nbsp;&nbsp;Chicago, O'Hare International Airport, Ser D, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2052  | 3125 | 3171 |
| &nbsp;&nbsp;&nbsp;Chicago, Project and Refunding, Ser 2005D, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 01/01/2034  | 3500 | 3530 |
| &nbsp;&nbsp;&nbsp;Chicago, Project and Refunding, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 01/01/2038  | 10500 | 10910 |
| &nbsp;&nbsp;&nbsp;Chicago, River Point Plaza Redevelopment Project, COP  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.835%, 04/15/2028 (C) | 1400 | 1379 |
| &nbsp;&nbsp;&nbsp;Chicago, Sales Tax Revenue, Ser 2002, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 100  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2025 (B) | 2500 | 2618 |
| &nbsp;&nbsp;&nbsp;Chicago, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 01/01/2033  | 2000 | 2007 |
| &nbsp;&nbsp;&nbsp;Illinois State, Finance Authority, Acero Charter Schools, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/01/2042 (C) | 250 | 197 |
| &nbsp;&nbsp;&nbsp;Illinois State, Finance Authority, American Water Capital, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.450%, 10/01/2039 (A) | 1250 | 1112 |
| &nbsp;&nbsp;&nbsp;Illinois State, Finance Authority, Art in Motion Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2051 (C) | 1000 | 741 |
| &nbsp;&nbsp;&nbsp;Illinois State, Finance Authority, Friendship Village of Schaumburg Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.125%, 02/15/2045 (D) | 1750 | 857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/15/2037 (D) | 1750 | 857 |
| &nbsp;&nbsp;&nbsp;Illinois State, Finance Authority, Friendship Village Schamurg Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/15/2022 (D) | 1000 | 490 |
| &nbsp;&nbsp;&nbsp;Illinois State, Finance Authority, Plymouth Place, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 100  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2025 (B) | 500 | 526 |
| &nbsp;&nbsp;&nbsp;Illinois State, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 05/01/2030  | 2000 | 2182 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 07/01/2038  | 1500 | 1508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2026  | 4500 | 4569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2039  | 5000 | 5018 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Illinois State, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2026  | $| 2000 | $2015 |
| &nbsp;&nbsp;&nbsp;Illinois State, Ser A, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.625%, 05/01/2037  |  | 2500 | 2480 |
| &nbsp;&nbsp;&nbsp;Illinois State, Ser B, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2026  |  | 2500 | 2601 |
| &nbsp;&nbsp;&nbsp;Illinois State, Ser D, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2027  |  | 6000 | 6265 |
| &nbsp;&nbsp;&nbsp;Illinois State, Sub-Ser D, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 06/15/2031  |  | 3005 | 2751 |
| &nbsp;&nbsp;&nbsp;Metropolitan Pier & Exposition Authority, Ser B, RB, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 06/15/2045 (G) |  | 7500 | 2503 |
| &nbsp;&nbsp;&nbsp;Village of Hillside, TA  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2030  |  | 1345 | 1326 |
| &nbsp;&nbsp;&nbsp;Will County, Community High School District No. 210 Lincoln-Way, Ser B, GO, BAM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 01/01/2029 (G) |  | 400 | 320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 01/01/2031 (G) |  | 300 | 221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 01/01/2033 (G) |  | 100 | 67 |
|  |  |  | 77706 |
| **Indiana — 1.2%** | **Indiana — 1.2%** | **Indiana — 1.2%** |  |
| &nbsp;&nbsp;&nbsp;Indiana State, Finance Authority, Ohio River Bridge Project, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 100  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2023 (B) |  | 1000 | 1012 |
| &nbsp;&nbsp;&nbsp;Indiana State, Finance Authority, Ohio Valley Electric Corp. Project, Ser 2012A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 11/01/2030  |  | 1000 | 972 |
| &nbsp;&nbsp;&nbsp;Indiana State, Finance Authority, Ohio Valley Electric Corp. Project, Ser 2012C, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 11/01/2030  |  | 2500 | 2225 |
| &nbsp;&nbsp;&nbsp;Indiana State, Finance Authority, Polyflow Project, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 03/01/2039 (C) |  | 11000 | 8274 |
|  |  |  | 12483 |
| **Iowa — 0.3%** | **Iowa — 0.3%** | **Iowa — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;Iowa State, Finance Authority, Council Bluffs Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.950%, 08/01/2023  |  | 85 | 84 |
| &nbsp;&nbsp;&nbsp;Iowa State, Finance Authority, Deerfield Retirement Community Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 100  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.400%, 11/15/2024 (A)(B) |  | 603 | 628 |
| &nbsp;&nbsp;&nbsp;Iowa State, Finance Authority, Northcrest Project, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2028  |  | 1150 | 1142 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Tax-Advantaged Income Fund** (Continued)

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Iowa State, Student Loan Liquidity, Ser A, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2026  | $| 725 | $761 |
| &nbsp;&nbsp;&nbsp;Iowa State, Tobacco Settlement Authority, Sub-Ser B-, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 06/01/2065 (G) |  | 1490 | 163 |
|  |  |  | 2778 |
| **Kansas — 0.3%** | **Kansas — 0.3%** | **Kansas — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;Kansas State, Development Finance Authority, Village of Shalom Project, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 11/15/2038  |  | 1025 | 850 |
| &nbsp;&nbsp;&nbsp;Wichita, Presbyterian Manor Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2050  |  | 600 | 501 |
| &nbsp;&nbsp;&nbsp;Wichita, Presbyterian Manor Project, Ser I, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2028  |  | 500 | 489 |
| &nbsp;&nbsp;&nbsp;Wyandotte County, Kansas City Unified Government, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 09/01/2034 (C)(G) |  | 2500 | 869 |
|  |  |  | 2709 |
| **Kentucky — 0.7%** | **Kentucky — 0.7%** | **Kentucky — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;Kentucky State, Economic Development Finance Authority, Bapitist Life Community Project, Ser S, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.250%, 11/15/2046  |  | 1000 | 841 |
| &nbsp;&nbsp;&nbsp;Kentucky State, Economic Development Finance Authority, Baptist Life Community Project, Ser S, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 11/15/2036  |  | 1700 | 1492 |
| &nbsp;&nbsp;&nbsp;Scott County, School District Finance, RB, BAM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2041  |  | 5000 | 5450 |
|  |  |  | 7783 |
| **Louisiana — 0.3%** | **Louisiana — 0.3%** | **Louisiana — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;Louisiana State, Local Government Environmental Facilities & Community Development Authority, Cameron Parish GOMESA Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.650%, 11/01/2037 (C) |  | 900 | 906 |
| &nbsp;&nbsp;&nbsp;Louisiana State, Local Government Environmental Facilities & Community Development Authority, Jefferson Parish GOMESA Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 11/01/2044 (C) |  | 500 | 378 |
| &nbsp;&nbsp;&nbsp;Louisiana State, Local Government Environmental Facilities & Community Development Authority, Terrebonne Parish GOMESA Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 11/01/2039 (C) |  | 800 | 790 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;St. John the Baptist Parish, Marathon Oil Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.125%, 06/01/2037 (A) | $| 1140 | $1103 |
|  |  |  | 3177 |
| **Maine — 0.2%** | **Maine — 0.2%** | **Maine — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;Maine State, Finance Authority, Solid Waste Disposal, Coastal Resource, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.375%, 12/15/2033 (C)(D) |  | 2000 | 24 |
| &nbsp;&nbsp;&nbsp;Maine State, Health & Higher Educational Facilities Authority, Eastern Maine Health Care, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2046  |  | 2600 | 2602 |
|  |  |  | 2626 |
| **Maryland — 0.3%** | **Maryland — 0.3%** | **Maryland — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;Maryland State, Economic Development Corporation, Purple Line Light Rail Project, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 06/30/2055  |  | 625 | 645 |
| &nbsp;&nbsp;&nbsp;Prince George's County, Chesapeake Lighthouse Charter School Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 08/01/2048  |  | 1500 | 1586 |
|  |  |  | 2231 |
| **Michigan — 2.1%** | **Michigan — 2.1%** | **Michigan — 2.1%** |  |
| &nbsp;&nbsp;&nbsp;Detroit, Ser B-1, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 04/01/2044 (A)(F) |  | 3800 | 2787 |
| &nbsp;&nbsp;&nbsp;Michigan State, Finance Authority, Detroit Water and Sewerage Project, Senior Lien, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2033  |  | 3000 | 3078 |
| &nbsp;&nbsp;&nbsp;Michigan State, Finance Authority, Local Government Loan Program, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 10/01/2029  |  | 5750 | 5757 |
| &nbsp;&nbsp;&nbsp;Michigan State, Finance Authority, Public School Academy, Bradford Academy Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2050  |  | 310 | 245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.800%, 09/01/2040  |  | 185 | 153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.300%, 09/01/2030  |  | 120 | 108 |
| &nbsp;&nbsp;&nbsp;Michigan State, Finance Authority, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 06/01/2045 (G) |  | 5000 | 1053 |
| &nbsp;&nbsp;&nbsp;Michigan State, Finance Authority, Tobacco Settlement, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 06/01/2046 (G) |  | 21000 | 2376 |
| &nbsp;&nbsp;&nbsp;Michigan State, Finance Authority, Tobacco Settlement, Ser B-2-CLASS, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 06/01/2065 (G) |  | 20000 | 1690 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Tax-Advantaged Income Fund** (Continued)

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Michigan State, Finance Authority, Tobacco Settlement, Ser C, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 06/01/2058 (G) | $| 125250 | $5605 |
|  |  |  | 22852 |
| **Minnesota — 0.6%** | **Minnesota — 0.6%** | **Minnesota — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;Independence, Beacon Academy Project, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 07/01/2026  |  | 615 | 596 |
| &nbsp;&nbsp;&nbsp;Minneapolis, Education Authority, Twin Cities International School, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2032 (C) |  | 750 | 750 |
| &nbsp;&nbsp;&nbsp;Minneapolis, NorthEast College Prep Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2055  |  | 710 | 580 |
| &nbsp;&nbsp;&nbsp;Shakopee, Senior Housing Revenue, Benedictine Living Community Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.850%, 11/01/2058 (A)(C) |  | 500 | 492 |
| &nbsp;&nbsp;&nbsp;St. Cloud, Health Care Revenue, Centracare Health System, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 05/01/2049  |  | 4000 | 3618 |
| &nbsp;&nbsp;&nbsp;St. Cloud, Stride Academy Project, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.750%, 04/01/2026  |  | 350 | 320 |
|  |  |  | 6356 |
| **Missouri — 0.7%** | **Missouri — 0.7%** | **Missouri — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;Lees Summit, Industrial Development Authority, John Knox Village Project, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/15/2051  |  | 1050 | 883 |
| &nbsp;&nbsp;&nbsp;Missouri State, Development Finance Board, Saint Louis Zoo Projects, Ser 2022, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 05/01/2055  |  | 4005 | 4163 |
| &nbsp;&nbsp;&nbsp;St. Louis, Land Clearance for Redevelopment Authority, National Geospacial Intelligence, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.125%, 06/01/2046  |  | 2370 | 2408 |
|  |  |  | 7454 |
| **Montana — 0.1%** | **Montana — 0.1%** | **Montana — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;Kalispel, Housing and Health Care Facilities, Immanuel Lutheran Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 05/15/2052  |  | 1500 | 1188 |
| **Nevada — 0.9%** | **Nevada — 0.9%** | **Nevada — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;Nevada State, Department of Business & Industry, Fulcrum Sierra Biofuels Project, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.950%, 02/15/2038 (C) |  | 3000 | 2672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.125%, 12/15/2037 (C) |  | 2355 | 1784 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Reno, Sub-Ser D, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 07/01/2058 (C)(G) | $| 10000 | $965 |
| &nbsp;&nbsp;&nbsp;Reno, Sub-Ser, TRAN  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 07/01/2058 (C)(G) |  | 23000 | 2703 |
|  |  |  | 8124 |
| **New Jersey — 1.7%** | **New Jersey — 1.7%** | **New Jersey — 1.7%** |  |
| &nbsp;&nbsp;&nbsp;New Jersey State, Economic Development Authority, Kapowski Road Landfill Project, SAB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.750%, 04/01/2031  |  | 2500 | 2490 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Economic Development Authority, Portal North Bridge Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2052  |  | 4000 | 4092 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Economic Development Authority, Sub-Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.125%, 07/01/2029  |  | 445 | 436 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Educational Facilities Authority, Stockton University, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2041  |  | 2000 | 2025 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Tobacco Settlement Financing, Sub-Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2046  |  | 770 | 744 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Transportation Trust Fund Authority, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 12/15/2030 (G) |  | 1000 | 712 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Transportation Trust Fund Authority, Fund Authority, Transportation Program, Ser AA, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 06/15/2041 |  | 1250 | 1275 |
| &nbsp;&nbsp;&nbsp;New Jersey State, Transportation Trust Fund Authority, Fund Authority, Transportation Program, Ser CC, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 06/15/2050  |  | 500 | 536 |
| &nbsp;&nbsp;&nbsp;Newark, GO, NATL  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 04/01/2033 (G) |  | 6220 | 3559 |
| &nbsp;&nbsp;&nbsp;South Jersey, Transportation Authority, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2039  |  | 2500 | 2542 |
|  |  |  | 18411 |
| **New York — 8.4%** | **New York — 8.4%** | **New York — 8.4%** |  |
| &nbsp;&nbsp;&nbsp;Build NYC Resource, NYU Law School Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2041  |  | 1500 | 1506 |
| &nbsp;&nbsp;&nbsp;Hempstead Town, Local Development, Acadamy Charter School Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.600%, 02/01/2051  |  | 500 | 371 |
| &nbsp;&nbsp;&nbsp;Hempstead Town, Local Development, Academy Christian School Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.760%, 02/01/2048  |  | 1000 | 1052 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Tax-Advantaged Income Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Monroe County, Industrial Development, Ann's Community Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2040  | $1500 | $1266 |
| &nbsp;&nbsp;&nbsp;New York City, Industrial Development Agency, Yankee Stadium Project, RB, FGIC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.625%, 03/01/2026 (A) | 425 | 435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.615%, 03/01/2025 (A) | 400 | 407 |
| &nbsp;&nbsp;&nbsp;New York City, Transitional Finance Authority, Future Tax Secured Revenue, Sub-Ser A-1, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2039  | 8000 | 8864 |
| &nbsp;&nbsp;&nbsp;New York City, Transitional Finance Authority, Future Tax Secured Revenue, Sub-Ser D-1, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 11/01/2045  | 5000 | 5692 |
| &nbsp;&nbsp;&nbsp;New York Counties, Tobacco Trust IV, Ser E, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 06/01/2055 (G) | 57000 | 3859 |
| &nbsp;&nbsp;&nbsp;New York Counties, Tobacco Trust V, Sub-Ser, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 06/01/2055 (G) | 28000 | 1980 |
| &nbsp;&nbsp;&nbsp;New York State, Dormitory Authority, Pace University Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 100  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/01/2023 (B) | 10 | 10 |
| &nbsp;&nbsp;&nbsp;New York State, Dormitory Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 03/15/2048  | 8000 | 7577 |
| &nbsp;&nbsp;&nbsp;New York State, Liberty Development Authority, Goldman Sachs Headquarters Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 10/01/2037  | 1000 | 1119 |
| &nbsp;&nbsp;&nbsp;New York State, Liberty Development Authority, World Trade Center Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.375%, 11/15/2040 (C) | 4000 | 4002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2044 (C) | 10750 | 10122 |
| &nbsp;&nbsp;&nbsp;New York State, Thruway Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/15/2046  | 4000 | 4305 |
| &nbsp;&nbsp;&nbsp;New York State, Transportation Development, Delta Airlines, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2025  | 5000 | 5045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2029  | 545 | 555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2033  | 4085 | 4132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2040  | 1500 | 1495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375%, 10/01/2045  | 3000 | 2731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/01/2030  | 1000 | 972 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;New York State, Transportation Development, JFK International Airport Project, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 08/01/2031  | $| 1300 | $1329 |
| &nbsp;&nbsp;&nbsp;New York State, Transportation Development, LaGuardia Airport Terminal B Redevelopment Project, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2046  |  | 3985 | 3953 |
| &nbsp;&nbsp;&nbsp;Suffolk, Tobacco Asset Securitization, Sub-Ser, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 06/01/2066 (G) |  | 21000 | 2195 |
| &nbsp;&nbsp;&nbsp;Syracuse, Industrial Development Agency, Carousel Center Project, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.693%, 01/01/2028 (C) |  | 1800 | 1751 |
| &nbsp;&nbsp;&nbsp;TSASC, Tobacco Settlement Bond, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2033  |  | 5790 | 5961 |
| &nbsp;&nbsp;&nbsp;TSASC, Tobacco Settlement Bond, Sub-Ser, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2045  |  | 4250 | 3998 |
| &nbsp;&nbsp;&nbsp;Ulster County, Capital Resource, Woodland Pond at New Paltz, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 09/15/2047  |  | 1000 | 763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 09/15/2053  |  | 2500 | 1839 |
|  |  |  | 89286 |
| **North Carolina — 0.1%** | **North Carolina — 0.1%** | **North Carolina — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;North Carolina State, Medical Care Commission, United Church Homes and Services, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/2023 (H) |  | 610 | 621 |
| **North Dakota — 0.2%** | **North Dakota — 0.2%** | **North Dakota — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;Grand Forks County, Solid Waste Facility, Red River Biorefinery Project, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 12/15/2043 (C)(D) |  | 1500 | 843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.625%, 12/15/2031 (C)(D) |  | 1000 | 596 |
|  |  |  | 1439 |
| **Ohio — 2.5%** | **Ohio — 2.5%** | **Ohio — 2.5%** |  |
| &nbsp;&nbsp;&nbsp;Buckeye, Tobacco Settlement Financing Authority, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2055  |  | 3500 | 3207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 06/01/2057 (G) |  | 47500 | 5552 |
| &nbsp;&nbsp;&nbsp;Franklin County, Convention Facilities Authority, Greater Columbus Convention Center, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2044  |  | 4000 | 3958 |
| &nbsp;&nbsp;&nbsp;Lake County, Port & Economic Development Authority, 1st Mortgage - Tapestry Wickliffe, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.750%, 12/01/2052 (C)(D) |  | 650 | 162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 12/01/2037 (C)(D) |  | 1100 | 275 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Tax-Advantaged Income Fund** (Continued)

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Montgomery County, Trousdale Foundation Properties Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.250%, 04/01/2049 (C)(D) | $| 1900 | $714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 04/01/2038 (C)(D) |  | 1615 | 607 |
| &nbsp;&nbsp;&nbsp;Ohio State, Air Quality Development Authority, American Electric Corporation, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.100%, 04/01/2028 (A) |  | 3420 | 3293 |
| &nbsp;&nbsp;&nbsp;Ohio State, Air Quality Development Authority, Duke Energy, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 11/01/2039 (A) |  | 3500 | 3482 |
| &nbsp;&nbsp;&nbsp;Ohio State, Air Quality Development Authority, Vanadium Project, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2049 (C) |  | 2250 | 2073 |
| &nbsp;&nbsp;&nbsp;Southern Ohio, Port Authority, Purecycle Project, Ser A, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 12/01/2030 (C)(D) |  | 3000 | 2674 |
|  |  |  | 25997 |
| **Oklahoma — 0.5%** | **Oklahoma — 0.5%** | **Oklahoma — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;Comanche County, Hospital Authority, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2025  |  | 1500 | 1513 |
| &nbsp;&nbsp;&nbsp;Oklahoma State, Development Finance Authority, Alden Group Renewable Energy, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.000%, 12/01/2041 (C) |  | 2500 | 1960 |
| &nbsp;&nbsp;&nbsp;Oklahoma State, Development Finance Authority, Oklahoma City University Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/2035  |  | 2790 | 2498 |
| &nbsp;&nbsp;&nbsp;Payne County, Economic Development Authority, Epworth Living Retirement Community, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 11/01/2051 (D) |  | 2163 | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.875%, 11/01/2046 (D) |  | 1081 | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.625%, 11/01/2036 (D) |  | 522 | 1 |
|  |  |  | 5980 |
| **Oregon — 0.1%** | **Oregon — 0.1%** | **Oregon — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;Clackamas County, Hospital Facility Authority, Willametter View Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/2052  |  | 1500 | 1372 |
| &nbsp;&nbsp;&nbsp;Oregon State, Business Development Commission, Red Rock Biofuels LLC, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 04/01/2031 (C)(D) |  | 11100 | 810 |
| &nbsp;&nbsp;&nbsp;Salem, Hospital Facility Authority, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2023  |  | 100 | 100 |
|  |  |  | 2282 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| **Pennsylvania — 1.9%** | **Pennsylvania — 1.9%** |  |
| &nbsp;&nbsp;&nbsp;Berks County, Industrial Development Authority, The Highlands at Wyomissing Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/2029  | $300 | $304 |
| &nbsp;&nbsp;&nbsp;Blythe Township, Solid Waste Authority, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 100  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.750%, 12/01/2027 (B) | 3875 | 4510 |
| &nbsp;&nbsp;&nbsp;Chester County, Industrial Development Authority, Woodlands at Graystone Project, SAB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375%, 03/01/2028 (C) | 275 | 269 |
| &nbsp;&nbsp;&nbsp;Franklin County, Industrial Development Authority, Menno-Haven Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2025  | 495 | 480 |
| &nbsp;&nbsp;&nbsp;Lancaster County, Hospital Authority, Penn State Health System Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2046  | 2500 | 2556 |
| &nbsp;&nbsp;&nbsp;Lancaster County, Hospital Authority, Penn State Health, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2051  | 3000 | 3054 |
| &nbsp;&nbsp;&nbsp;Montgomery County, Higher Education & Health Authority, Thomas Jefferson University, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 09/01/2049  | 1000 | 884 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Commonwealth Financing Authority, Tobacco Master Settlement, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2034  | 2000 | 2159 |
| &nbsp;&nbsp;&nbsp;Pennsylvania State, Economic Development Financing Authority, Consol Energy Inc Project, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.000%, 04/01/2051 (A)(C) | 2040 | 2322 |
| &nbsp;&nbsp;&nbsp;Philadelphia, Industrial Development Authority, University Square Apartments Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 12/01/2058 (C) | 2000 | 1773 |
| &nbsp;&nbsp;&nbsp;Southcentral Pennsylvania, General Authority, York Academy Regional Christian School Program, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 07/15/2048 (C) | 2800 | 2893 |
| &nbsp;&nbsp;&nbsp;Washington County, Redevelopment Authority, TA  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/2023  | 195 | 194 |
| &nbsp;&nbsp;&nbsp;West Cornwall Township, Municipal Authority, Pleasant View Retirement Community, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 12/15/2023  | 235 | 231 |
|  |  | 21629 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Tax-Advantaged Income Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| **Puerto Rico — 7.3%** | **Puerto Rico — 7.3%** |  |
| &nbsp;&nbsp;&nbsp;Puerto Rico, Electric Power Authority, Ser AAA, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 07/01/2030 (D) | $200 | $148 |
| &nbsp;&nbsp;&nbsp;Puerto Rico, Electric Power Authority, Ser UU, RB, AGM  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.046%, 07/01/2029 (A) | 9040 | 8471 |
| &nbsp;&nbsp;&nbsp;Puerto Rico, Electric Power Authority, Ser V, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 07/01/2020 (D) | 1380 | 1023 |
| &nbsp;&nbsp;&nbsp;Puerto Rico, Electric Power Authority, Ser ZZ, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 07/01/2019 (D) | 1265 | 933 |
| &nbsp;&nbsp;&nbsp;Puerto Rico, GDB Debt Recovery Authority, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.500%, 08/20/2040  | 10947 | 9141 |
| &nbsp;&nbsp;&nbsp;Puerto Rico, Highway & Transportation Authority, Ser G, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2042 (D) | 3000 | 600 |
| &nbsp;&nbsp;&nbsp;Puerto Rico, Highway & Transportation Authority, Ser H-REMK, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.450%, 07/01/2035 (D) | 2340 | 468 |
| &nbsp;&nbsp;&nbsp;Puerto Rico, Highway & Transportation Authority, Ser K, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2026 (D) | 3040 | 608 |
| &nbsp;&nbsp;&nbsp;Puerto Rico, Highway & Transportation Authority, Ser M, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2046 (D) | 10000 | 2000 |
| &nbsp;&nbsp;&nbsp;Puerto Rico, Sales Tax Financing Sales Tax Revenue, Ser A2, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.784%, 07/01/2058  | 11604 | 10578 |
| &nbsp;&nbsp;&nbsp;Puerto Rico, Sales Tax Financing Sales Tax Revenue, Ser A-2A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.550%, 07/01/2040  | 2000 | 1858 |
| &nbsp;&nbsp;&nbsp;Puerto Rico, Sales Tax Financing, Sales Tax Revenue, Ser A1, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2058  | 6253 | 5917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 07/01/2046 (G) | 12100 | 3034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 07/01/2051 (G) | 37000 | 6916 |
| &nbsp;&nbsp;&nbsp;Puerto Rico, Ser A, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 07/01/2024 (G) | 399 | 366 |
| &nbsp;&nbsp;&nbsp;Puerto Rico, Ser A1, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.625%, 07/01/2027  | 2578 | 2638 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/2041  | 5000 | 4004 |
| &nbsp;&nbsp;&nbsp;Puerto Rico, Sub-Ser CW, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 11/01/2043 (A)(E) | 16691 | 7594 |
| &nbsp;&nbsp;&nbsp;Puerto Rico, Sub-Ser Senior, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 11/01/2051 (A)(E) | 10927 | 4876 |
| &nbsp;&nbsp;&nbsp;Puerto Rico, Sub-Ser, GO  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 11/01/2051 (A)(E) | 18711 | 6619 |
|  |  | 77792 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| **Rhode Island — 0.3%** | **Rhode Island — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;Rhode Island State, Tobacco Settlement Financing Authority, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 06/01/2052 (G) | $6890 | $1115 |
| &nbsp;&nbsp;&nbsp;Rhode Island State, Tobacco Settlement Financing Authority, Ser B, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2050  | 2000 | 2003 |
|  |  | 3118 |
| **South Carolina — 0.7%** | **South Carolina — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;South Carolina State, Jobs-Economic Development Authority, Bon Secours Mercy Health, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2046  | 2000 | 2093 |
| &nbsp;&nbsp;&nbsp;South Carolina State, Jobs-Economic Development Authority, Repower S. Berkeley Project, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.250%, 02/01/2045 (C)(D) | 1000 | 400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 02/01/2027 (C)(D) | 1000 | 400 |
| &nbsp;&nbsp;&nbsp;South Carolina State, Jobs-Economic Development Authority, Repower S. Berkeley Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.000%, 12/06/2029 (D) | 155 | 127 |
| &nbsp;&nbsp;&nbsp;South Carolina State, Public Service Authority, Santee Cooper Project, Ser C, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.784%, 12/01/2041  | 5059 | 4919 |
|  |  | 7939 |
| **Tennessee — 1.4%** | **Tennessee — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;Bristol, Industrial Development Board, Pinnacle Project, TA  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.625%, 06/01/2035  | 2000 | 1803 |
| &nbsp;&nbsp;&nbsp;Memphis-Shelby County, Industrial Development Board, Graceland Project, TA  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 07/01/2037 (D) | 700 | 510 |
| &nbsp;&nbsp;&nbsp;Nashville, Metropolitan Development & Housing Agency, TA  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 06/01/2028 (C) | 495 | 495 |
| &nbsp;&nbsp;&nbsp;Shelby County, Health Educational & Housing Facilities Board, The Farms at Baily Station, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.750%, 10/01/2059  | 2500 | 2141 |
| &nbsp;&nbsp;&nbsp;Tennergy, Gas Supply, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 10/01/2053 (A) | 3000 | 3133 |
| &nbsp;&nbsp;&nbsp;Tennessee State, Energy Acquisition, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 09/01/2026  | 2355 | 2429 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Tax-Advantaged Income Fund** (Continued)

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Tennessee State, Energy Acquisition, Ser C, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/2027  | $| 4000 | $4089 |
|  |  |  | 14600 |
| **Texas — 3.5%** | **Texas — 3.5%** | **Texas — 3.5%** |  |
| &nbsp;&nbsp;&nbsp;Angelina & Neches, River Authority, Jefferson Enterprise Energy, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.000%, 12/01/2045 (C) |  | 3000 | 2605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.500%, 12/01/2045 (C) |  | 1750 | 1334 |
| &nbsp;&nbsp;&nbsp;Baytown, Municipal Development District, Baytown Convention Center Hotel, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2050 (C) |  | 500 | 411 |
| &nbsp;&nbsp;&nbsp;Brazoria County, Industrial Development, Aleon Renewable Metals, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.000%, 06/01/2042 (A)(C) |  | 1500 | 1465 |
| &nbsp;&nbsp;&nbsp;Brazoria County, Industrial Development, Gladieux Metals Recycling Project, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.000%, 03/01/2039 (C) |  | 9470 | 9999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 03/01/2039  |  | 500 | 462 |
| &nbsp;&nbsp;&nbsp;Calhoun County, Navigation Industrial Development Authority, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.625%, 07/01/2026 (C) |  | 2000 | 1797 |
| &nbsp;&nbsp;&nbsp;Clifton, Higher Education Finance, International Leadership Project, Ser D, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.125%, 08/15/2048  |  | 1250 | 1271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 08/15/2038  |  | 1500 | 1530 |
| &nbsp;&nbsp;&nbsp;New Hope, Cultural Education Facilities, Cardinal Bay Village Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 07/01/2046 (D) |  | 1250 | 625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2031 (D) |  | 250 | 125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2046 (D) |  | 2000 | 1250 |
| &nbsp;&nbsp;&nbsp;New Hope, Cultural Education Facilities, Edgemere Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2047  |  | 1500 | 1361 |
| &nbsp;&nbsp;&nbsp;New Hope, Cultural Education Facilities, Longhorn Village Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2042  |  | 500 | 465 |
| &nbsp;&nbsp;&nbsp;New Hope, Cultural Education Facilities, Quality Senior Housing Foundation, Ser A1, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2054  |  | 500 | 429 |
| &nbsp;&nbsp;&nbsp;North Texas, Tollway Authority, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/01/2045  |  | 6000 | 6141 |
| &nbsp;&nbsp;&nbsp;Port Beaumont, Navigation District, Jefferson Gulf Coast Energy Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 01/01/2025 (C) |  | 1000 | 936 |
| &nbsp;&nbsp;&nbsp;Port Isabel, GO  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.100%, 02/15/2049 (C) |  | 1000 | 1011 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Texas State, Municipal Gas Acquisition & Supply I, Senior Lien, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 12/15/2023  | $| 670 | $684 |
| &nbsp;&nbsp;&nbsp;Texas State, Municipal Gas Acquisition & Supply I, Sub-Ser C, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.656%, 12/15/2026 (A) |  | 3000 | 2859 |
| &nbsp;&nbsp;&nbsp;Woodloch, Health Facilities Development, Inspired Living Lewsville Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.750%, 12/01/2051 (C)(D) |  | 2500 | 1506 |
|  |  |  | 38266 |
| **Utah — 0.2%** | **Utah — 0.2%** | **Utah — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;Mida Mountain Village, Public Infrastructure District, Mountain Village Assesment, SAB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/2050 (C) |  | 500 | 378 |
| &nbsp;&nbsp;&nbsp;UIPA Crossroads, Public Infrastructure District, TA  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375%, 06/01/2052 (C) |  | 1000 | 815 |
| &nbsp;&nbsp;&nbsp;Utah Charter School, Finance Authority, St George Campus Project, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2052 (C) |  | 1300 | 1118 |
| &nbsp;&nbsp;&nbsp;Utah State, Charter School Finance Authority, Early Light Academy Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 07/15/2027 (C) |  | 500 | 485 |
|  |  |  | 2796 |
| **Vermont — 0.1%** | **Vermont — 0.1%** | **Vermont — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;Vermont State, Student Assistance, Ser A, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/2028  |  | 550 | 563 |
| **Virgin Islands — 0.6%** | **Virgin Islands — 0.6%** | **Virgin Islands — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;Matching Fund Special Purpose Securitization, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2027  |  | 1840 | 1895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/01/2032  |  | 4530 | 4660 |
|  |  |  | 6555 |
| **Virginia — 1.6%** | **Virginia — 1.6%** | **Virginia — 1.6%** |  |
| &nbsp;&nbsp;&nbsp;Farms of New Kent, Community Development Authority, Ser A, SAB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.750%, 03/01/2036 (C) |  | 2900 | 2743 |
| &nbsp;&nbsp;&nbsp;Hanover County, Economic Development Authority, Covenant Woods Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2038  |  | 375 | 368 |
| &nbsp;&nbsp;&nbsp;Henrico County, Economic Development Authority, Pinnacle Living Obligation Group, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/2044  |  | 1000 | 913 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Tax-Advantaged Income Fund** (Continued)

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;James City County, Economic Development Authority, United Methodist Home Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-Refunded @ 100  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 06/01/2023 (B) | $| 2119 | $2151 |
| &nbsp;&nbsp;&nbsp;Lewistown Commerce Center, Community Development Authority, Ser C, TA  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.050%, 03/01/2054  |  | 118 | 59 |
| &nbsp;&nbsp;&nbsp;Lewistown Commerce Center, Community Development Authority, TA  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.050%, 03/01/2044 (D) |  | 80 | 63 |
| &nbsp;&nbsp;&nbsp;Virginia State, Small Business Financing Authority, Bon Secours Mercy Health, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/2049  |  | 2000 | 1827 |
| &nbsp;&nbsp;&nbsp;Virginia State, Small Business Financing Authority, Rixey Student Housing Project, Ser A, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 07/01/2044 (C) |  | 6565 | 6170 |
| &nbsp;&nbsp;&nbsp;Virginia State, Small Business Financing Authority, Transform 66 P3 Project, AMT, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/31/2049  |  | 2500 | 2500 |
|  |  |  | 16794 |
| **Washington — 0.5%** | **Washington — 0.5%** | **Washington — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;Skagit County, Public Hospital District No. 1, Skagit Regional Health, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2028  |  | 1000 | 1045 |
| &nbsp;&nbsp;&nbsp;Washington State, Convention Center Public Facilities District, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/2031  |  | 1000 | 902 |
| &nbsp;&nbsp;&nbsp;Washington State, Housing Finance Commission, Judson Park Project, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/2033 (C) |  | 225 | 210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/2028 (C) |  | 400 | 371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.700%, 07/01/2023 (C) |  | 125 | 124 |
| &nbsp;&nbsp;&nbsp;Washington State, Tobacco Settlement Authority, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 06/01/2032  |  | 1155 | 1156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 06/01/2033  |  | 2500 | 2503 |
|  |  |  | 6311 |
| **West Virginia — 0.6%** | **West Virginia — 0.6%** | **West Virginia — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;West Virginia State, Tobacco Settlement, Finance Authority, Ser B, RB  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 06/01/2047 (G) |  | 73250 | 6069 |
| **Wisconsin — 2.7%** | **Wisconsin — 2.7%** | **Wisconsin — 2.7%** |  |
| &nbsp;&nbsp;&nbsp;Center District, Senior Dedicated Tax Revenue, Ser C, RB, AGM  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 12/15/2055 (G) |  | 25000 | 4682 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Health & Educational Facilities Authority, Camillus Health System, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/2046  | $1000 | $845 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Health & Educational Facilities Authority, Wisconsin Illinois Senior Housing, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 08/01/2048  | 1500 | 1229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/2028  | 1140 | 1084 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Public Finance Authority, Barton College Project, Ser A, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2038  | 2500 | 2369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/2048  | 1500 | 1352 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Public Finance Authority, Celanese Project, Ser B, AMT, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/2025  | 2000 | 2036 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Public Finance Authority, Delray Beach Radiation Therapy Project, Ser A-DELRAY, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 11/01/2046 (C)(D) | 3500 | 2100 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Public Finance Authority, Estancia Valley Classical, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 07/01/2051 (C) | 1000 | 708 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Public Finance Authority, Irving Convention Center Hotel Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 01/01/2050 (C) | 3250 | 3535 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Public Finance Authority, Lake Erie College, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.875%, 10/01/2054 (C) | 2770 | 2199 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Public Finance Authority, Marys Woods at Marylhurst Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 05/15/2052 (C) | 1750 | 1489 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Public Finance Authority, Northwest Nazarene University Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 10/01/2049  | 1000 | 871 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Public Finance Authority, Procure Proton Therapy Center Project, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.375%, 01/01/2048 (C) | 5070 | 3118 |
| &nbsp;&nbsp;&nbsp;Wisconsin State, Public Finance Authority, Retirement Facilities First Mortgage, RB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 03/01/2055 (C) | 2500 | 2180 |
|  |  | 29797 |
| Total Municipal Bonds |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $810,558) ($ Thousands) |  | 758435 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Tax-Advantaged Income Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **CORPORATE OBLIGATIONS — 19.5%** | **CORPORATE OBLIGATIONS — 19.5%** | **CORPORATE OBLIGATIONS — 19.5%** |
| **Financials — 17.3%** | **Financials — 17.3%** |  |
| &nbsp;&nbsp;&nbsp;Ally Financial  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.700%, H15T7Y + 3.481%(A)(I) | $1000 | $666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.700%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.868%(A)(I) | 1000 | 724 |
| &nbsp;&nbsp;&nbsp;American Express  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.550%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 2.854%(A)(I) | 5000 | 3975 |
| &nbsp;&nbsp;&nbsp;Australia & New Zealand Banking Group  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.750%, USD ICE Swap 11:00 NY 5 Yr + 5.168%(A)(C)(I) | 6900 | 6833 |
| &nbsp;&nbsp;&nbsp;Bank of America  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, ICE LIBOR USD 3 Month + 4.174%(A)(I) | 2900 | 2861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.300%, ICE LIBOR USD 3 Month + 4.553%(A)(I) | 1700 | 1685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.250%, ICE LIBOR USD 3 Month + 3.705%(A)(I) | 5000 | 4825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.125%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.231%(A)(I) | 400 | 387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 2.760%(A)(I) | 3000 | 2565 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.625%, ICE LIBOR USD 3 Month + 3.131%(A)(I) | 2200 | 1901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.750%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 2.630%(A)(I) | 5800 | 4615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.700%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.352%(A)(I) | 5000 | 4458 |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.625%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 4.389%, 10/27/2082 (A) | 3200 | 3292 |
| &nbsp;&nbsp;&nbsp;Barclays PLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.000%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 5.672%(A)(I) | 1500 | 1444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.750%, USD Swap Semi 30/360 5 Yr Curr + 4.842%(A)(I) | 1000 | 960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.410%(A)(I) | 3000 | 2204 |
| &nbsp;&nbsp;&nbsp;Benloch Ranch, Improvement Association No. 2  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.000%, 12/01/2051 (C)(J) | 6000 | 5781 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **CORPORATE OBLIGATIONS (continued)** | **CORPORATE OBLIGATIONS (continued)** | **CORPORATE OBLIGATIONS (continued)** |
| &nbsp;&nbsp;&nbsp;BNP Paribas  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.250%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 4.969%(A)(C)(I) | $2400 | $2490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.625%, USD Swap Semi 30/360 5 Yr Curr + 4.149%(A)(C)(I) | 1500 | 1441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.625%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.196%(A)(C)(I) | 8000 | 6489 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets PLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 4.036%(A)(I) | 600 | 571 |
| &nbsp;&nbsp;&nbsp;Capital One Financial  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.950%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.157%(A)(I) | 5300 | 4081 |
| &nbsp;&nbsp;&nbsp;Charles Schwab  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.168%(A)(I) | 6000 | 5100 |
| &nbsp;&nbsp;&nbsp;Citigroup  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.250%, ICE LIBOR USD 3 Month + 4.517%(A)(I) | 3800 | 3677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.597%(A)(I) | 3000 | 2599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.417%(A)(I) | 4400 | 3671 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Group  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.375%, ICE LIBOR USD 3 Month + 3.157%(A)(I) | 2380 | 2196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.650%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 5.313%(A)(I) | 2200 | 2117 |
| &nbsp;&nbsp;&nbsp;CoBank ACB  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.250%, ICE LIBOR USD 3 Month + 4.660%(A)(I) | 500 | 480 |
| &nbsp;&nbsp;&nbsp;Comerica  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.625%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 5.291%(A)(I) | 2600 | 2524 |
| &nbsp;&nbsp;&nbsp;Credit Agricole MTN  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.237%(A)(C)(I) | 3000 | 2350 |
| &nbsp;&nbsp;&nbsp;Credit Suisse Group  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.750%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 6.383%(A)(C)(I) | 2600 | 2217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.500%, USD Swap Semi 30/360 5 Yr Curr + 4.598%(A)(C)(I) | 1800 | 1485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 4.889%(A)(I) | 2500 | 1463 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Tax-Advantaged Income Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **CORPORATE OBLIGATIONS (continued)** | **CORPORATE OBLIGATIONS (continued)** | **CORPORATE OBLIGATIONS (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.554%(A)(C)(I) | $2500 | $1218 |
| &nbsp;&nbsp;&nbsp;Depository Trust & Clearing  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.375%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 2.606%(A)(C)(I) | 750 | 573 |
| &nbsp;&nbsp;&nbsp;Discover Financial Services  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.125%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 5.783%(A)(I) | 500 | 488 |
| &nbsp;&nbsp;&nbsp;Employees Retirement  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 07/01/2049 (E)(J) | 3000 | 67 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bancorp  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 4.215%(A)(I) | 500 | 468 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.623%(A)(I) | 1000 | 964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.125%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 2.949%(A)(I) | 2500 | 2037 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings PLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, USD ICE Swap 11:00 NY 5 Yr + 3.746%(A)(I) | 1500 | 1328 |
| &nbsp;&nbsp;&nbsp;Huntington Bancshares  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.625%, US Treas Yield Curve Rate T Note Const Mat 10 Yr + 4.945%(A)(I) | 600 | 543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.450%, H15T7Y + 4.045%(A)(I) | 3800 | 3363 |
| &nbsp;&nbsp;&nbsp;ING Groep  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, USD Swap Semi 30/360 5 Yr Curr + 4.446%(A)(I) | 3500 | 3293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.750%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 4.342%(A)(I) | 1000 | 880 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.750%, ICE LIBOR USD 3 Month + 3.780%(A)(I) | 7200 | 7139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.650%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 2.850%(A)(I) | 2300 | 1932 |
| &nbsp;&nbsp;&nbsp;KeyCorp  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, ICE LIBOR USD 3 Month + 3.606%(A)(I) | 3000 | 2624 |
| &nbsp;&nbsp;&nbsp;M&T Bank  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.125%, ICE LIBOR USD 3 Month + 3.520%(A)(I) | 500 | 435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.174%(A)(I) | 3800 | 3517 |

---

---

| | | |
|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **CORPORATE OBLIGATIONS (continued)** | **CORPORATE OBLIGATIONS (continued)** | **CORPORATE OBLIGATIONS (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 2.679%(A)(I) | $500 | $383 |
| &nbsp;&nbsp;&nbsp;MetLife  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.850%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.576%(A)(I) | 3800 | 3451 |
| &nbsp;&nbsp;&nbsp;Nordea Bank Abp MTN  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.125%, USD Swap Semi 30/360 5 Yr Curr + 3.388%(A)(C)(I) | 5000 | 4886 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.000%(A)(I) | 3400 | 3196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.400%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 2.595%(A)(I) | 1000 | 769 |
| &nbsp;&nbsp;&nbsp;Reagan Ranch Development LLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.500%, 09/01/2031 (C) | 5000 | 4392 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Scotland Group PLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.000%, USD Swap Semi 30/360 5 Yr Curr + 5.720%(A)(I) | 200 | 195 |
| &nbsp;&nbsp;&nbsp;Societe Generale  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.000%, USD ICE Swap 11:00 NY 5 Yr + 5.873%(A)(C)(I) | 1800 | 1803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.375%, USD Swap Semi 30/360 5 Yr Curr + 4.302%(A)(C)(I) | 700 | 672 |
| &nbsp;&nbsp;&nbsp;Standard Chartered PLC  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.014%, ICE LIBOR USD 3 Month + 1.460%(A)(C)(I) | 4000 | 3636 |
| &nbsp;&nbsp;&nbsp;SVB Financial Group  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.074%(A)(I) | 500 | 329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.202%(A)(I) | 4100 | 2683 |
| &nbsp;&nbsp;&nbsp;Toll Road Investors Partnership II  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 02/15/2043 (C)(G) | 21652 | 5226 |
| &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.125%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 4.075%, 10/31/2082 (A) | 4000 | 4100 |
| &nbsp;&nbsp;&nbsp;Truist Financial  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.950%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 4.605%(A)(I) | 1200 | 1158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.800%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.003%(A)(I) | 8500 | 7716 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Tax-Advantaged Income Fund** (Continued)

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) |
| **CORPORATE OBLIGATIONS (continued)** | **CORPORATE OBLIGATIONS (continued)** | **CORPORATE OBLIGATIONS (continued)** | **CORPORATE OBLIGATIONS (continued)** |
| &nbsp;&nbsp;&nbsp;UBS Group  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.313%(A)(C)(I) | $| 6000 | $4448 |
| &nbsp;&nbsp;&nbsp;UBS Group Funding Switzerland  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, USD Swap Semi 30/360 5 Yr Curr + 4.344%(A)(C)(I) |  | 600 | 591 |
| &nbsp;&nbsp;&nbsp;US Bancorp  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.700%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 2.541%(A)(I) |  | 7200 | 5744 |
| &nbsp;&nbsp;&nbsp;Voya Financial  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.125%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.358%(A)(I) |  | 1200 | 1163 |
| &nbsp;&nbsp;&nbsp;Wells Fargo  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.875%, ICE LIBOR USD 3 Month + 3.990%(A)(I) |  | 1894 | 1854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.900%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.453%(A)(I) |  | 2200 | 1917 |
|  |  |  | 185308 |
| **Health Care — 0.7%** | **Health Care — 0.7%** | **Health Care — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;CommonSpirit Health  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.187%, 10/01/2049  |  | 1800 | 1394 |
| &nbsp;&nbsp;&nbsp;Cottage Health Obligated Group  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.304%, 11/01/2049  |  | 1500 | 1082 |
| &nbsp;&nbsp;&nbsp;Toledo Hospital  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.325%, 11/15/2028  |  | 2500 | 1944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.982%, 11/15/2045  |  | 1000 | 655 |
| &nbsp;&nbsp;&nbsp;Tower Health  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.451%, 02/01/2050  |  | 4040 | 2089 |
|  |  |  | 7164 |
| **Utilities — 1.5%** | **Utilities — 1.5%** | **Utilities — 1.5%** |  |
| &nbsp;&nbsp;&nbsp;Dominion Energy  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.650%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 2.993%(A)(I) |  | 9000 | 7718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.350%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.195%(A)(I) |  | 800 | 670 |
| &nbsp;&nbsp;&nbsp;Duke Energy  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.875%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.388%(A)(I) |  | 4900 | 4410 |
| &nbsp;&nbsp;&nbsp;NiSource  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.650%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 2.843%(A)(I) |  | 2500 | 2325 |
| &nbsp;&nbsp;&nbsp;Pacific Gas & Electric  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.950%, 07/01/2050  |  | 300 | 240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.550%, 07/01/2030  |  | 300 | 274 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description | Face Amount <br> (Thousands) | Face Amount <br> (Thousands) | Market Value<br> ($ Thousands) | Market Value<br> ($ Thousands) |
| **CORPORATE OBLIGATIONS (continued)** | **CORPORATE OBLIGATIONS (continued)** | **CORPORATE OBLIGATIONS (continued)** | **CORPORATE OBLIGATIONS (continued)** | **CORPORATE OBLIGATIONS (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.850%, 11/15/2023  | $| 50 | $| 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.750%, 07/01/2028  |  | 100 |  | 88 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.450%, 07/01/2025  |  | 100 |  | 95 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.400%, 08/15/2024  |  | 100 |  | 96 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.300%, 03/15/2027  |  | 100 |  | 88 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.250%, 06/15/2023  |  | 150 |  | 148 |
|  |  |  |  | 16201 |
| Total Corporate Obligations |  |  |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $240,422) ($ Thousands) |  |  |  | 208673 |
|  | <br> Shares | <br> Shares |  |  |
| **PREFERRED STOCK — 5.3%** | **PREFERRED STOCK — 5.3%** | **PREFERRED STOCK — 5.3%** | **PREFERRED STOCK — 5.3%** | **PREFERRED STOCK — 5.3%** |
| **Communication Services — 0.2%** | **Communication Services — 0.2%** | **Communication Services — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;AT&T  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%(I) |  | 137000 |  | 2522 |
| **Consumer Discretionary — 0.1%** | **Consumer Discretionary — 0.1%** | **Consumer Discretionary — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Dairy Farmers of America  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.875%\*(I) |  | 15000 |  | 1448 |
| **Financials — 4.8%** | **Financials — 4.8%** | **Financials — 4.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Allstate  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%(I) |  | 23980 |  | 499 |
| &nbsp;&nbsp;&nbsp;Arch Capital Group  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.450%(I) |  | 13693 |  | 304 |
| &nbsp;&nbsp;&nbsp;Associated Banc-Corp  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.875%(I) |  | 12516 |  | 287 |
| &nbsp;&nbsp;&nbsp;Capital One Financial  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%(I) |  | 71700 |  | 1393 |
| &nbsp;&nbsp;&nbsp;Citigroup (A) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.875%, ICE LIBOR USD 3 Month + 4.130%(A)(I) |  | 85700 |  | 2145 |
| &nbsp;&nbsp;&nbsp;Equitable Holdings  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%(I) |  | 25000 |  | 521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.300%(I) |  | 25209 |  | 459 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bancorp (A) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.625%, ICE LIBOR USD 3 Month + 3.710%(A)(I) |  | 80000 |  | 2053 |
| &nbsp;&nbsp;&nbsp;First Republic Bank  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%(I) |  | 100000 |  | 1684 |
| &nbsp;&nbsp;&nbsp;Fulton Financial  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.125%(I) |  | 10000 |  | 206 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group (A) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, ICE LIBOR USD 3 Month + 3.640%(A)(I) |  | 228100 |  | 5616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.262%, ICE LIBOR USD 3 Month + 0.670%(A)(I) |  | 30599 |  | 591 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Tax-Advantaged Income Fund** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **PREFERRED STOCK (continued)** | **PREFERRED STOCK (continued)** | **PREFERRED STOCK (continued)** |
| &nbsp;&nbsp;&nbsp;KeyCorp (A) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.125%, ICE LIBOR USD 3 Month + 3.892%(A)(I) | 4000 | $99 |
| &nbsp;&nbsp;&nbsp;M&T Bank (A) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.625%, ICE LIBOR USD 3 Month + 4.020%(A)(I) | 12841 | 294 |
| &nbsp;&nbsp;&nbsp;MetLife  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.625%(I) | 21691 | 525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%(I) | 191891 | 3915 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley (A) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.125%, ICE LIBOR USD 3 Month + 4.320%(A)(I) | 106823 | 2728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.875%, ICE LIBOR USD 3 Month + 3.940%(A)(I) | 53657 | 1361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.779%, ICE LIBOR USD 3 Month + 0.700%(A)(I) | 161113 | 3219 |
| &nbsp;&nbsp;&nbsp;NY Community Bancorp (A) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.375%, ICE LIBOR USD 3 Month + 3.821%(A)(I) | 110000 | 2640 |
| &nbsp;&nbsp;&nbsp;Regions Financial  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.375%, ICE LIBOR USD 3 Month + 3.536%(A)(I) | 2600 | 67 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.700%, ICE LIBOR USD 3 Month + 3.148%(A)(I) | 16000 | 370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.450%(I) | 49094 | 920 |
| &nbsp;&nbsp;&nbsp;RenaissanceRe Holdings  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.200%(I) | 40000 | 713 |
| &nbsp;&nbsp;&nbsp;State Street (A) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.900%, ICE LIBOR USD 3 Month + 3.108%(A)(I) | 126855 | 3084 |
| &nbsp;&nbsp;&nbsp;Stifel Financial  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%(I) | 37500 | 673 |
| &nbsp;&nbsp;&nbsp;SVB Financial Group  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%(I) | 1802 | 32 |
| &nbsp;&nbsp;&nbsp;Synovus Financial (A) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.875%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 4.127%(A)(I) | 50000 | 1205 |
| &nbsp;&nbsp;&nbsp;US Bancorp (A) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.099%, ICE LIBOR USD 3 Month + 1.020%(A)(I) | 500 | 424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.679%, ICE LIBOR USD 3 Month + 0.600%(A)(I) | 10051 | 196 |
| &nbsp;&nbsp;&nbsp;Valley National Bancorp (A) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.250%, ICE LIBOR USD 3 Month + 3.850%(A)(I) | 73487 | 1784 |
| &nbsp;&nbsp;&nbsp;Voya Financial (A) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.350%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.210%(A)(I) | 105000 | 2302 |
| &nbsp;&nbsp;&nbsp;Webster Financial  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%(I) | 36337 | 896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%(I) | 42731 | 863 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **PREFERRED STOCK (continued)** | **PREFERRED STOCK (continued)** | **PREFERRED STOCK (continued)** |
| &nbsp;&nbsp;&nbsp;Wells Fargo  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.500%\*(I) | 1468 | $1747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.625%, ICE LIBOR USD 3 Month + 3.690%(A)(I) | 50433 | 1283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.850%, ICE LIBOR USD 3 Month + 3.090%(A)(I) | 120000 | 2786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.625%(I) | 5000 | 114 |
| &nbsp;&nbsp;&nbsp;Western Alliance Bancorp (A) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.452%(A)(I) | 22500 | 481 |
|  |  | 50479 |
| **Utilities — 0.2%** | **Utilities — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;Duke Energy  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.750%(I) | 8727 | 214 |
| &nbsp;&nbsp;&nbsp;Enbridge (A) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.375%, ICE LIBOR USD 3 Month + 3.593%(A) | 5032 | 122 |
| &nbsp;&nbsp;&nbsp;Entergy Texas  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.375%(I) | 39700 | 934 |
| &nbsp;&nbsp;&nbsp;NSTAR Electric  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.780%(I) | 10708 | 932 |
|  |  | 2202 |
| Total Preferred Stock  |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $61,398) ($ Thousands) |  | 56651 |
|  | Face Amount <br> (Thousands) |  |
| **U.S. TREASURY OBLIGATIONS — 2.9%** | **U.S. TREASURY OBLIGATIONS — 2.9%** | **U.S. TREASURY OBLIGATIONS — 2.9%** |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Bills  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.192%, 02/23/2023 (K) | $7000 | 6932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.460%, 02/16/2023 (K) | 24400 | 24185 |
| Total U.S. Treasury Obligations | Total U.S. Treasury Obligations |  |
| &nbsp;&nbsp;&nbsp;(Cost $31,118) ($ Thousands) | &nbsp;&nbsp;&nbsp;(Cost $31,118) ($ Thousands) | 31117 |
| Total Investments in Securities — 98.4% |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $1,143,496) ($ Thousands)  | &nbsp;&nbsp;&nbsp;(Cost $1,143,496) ($ Thousands)  | $1054876 |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**SCHEDULE OF INVESTMENTS (Unaudited)** 

November 30, 2022

**Tax-Advantaged Income Fund** (Concluded)

A list of the open futures contracts held by the Fund at November 30, 2022, is as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type of Contract** | **Number of<br> Contracts** | **Expiration Date** | **Notional Amount (Thousands)** | **Value (Thousands)** | **Unrealized Appreciation/ (Depreciation) (Thousands)** |
| Short Contracts |  |  |  |  |  |
| &nbsp;&nbsp;U.S. Ultra Long Treasury Bond | (14) | Mar-2023 | $(1876) | $(1908) | $(32) |

---

---

| | |
|:---|:---|
|  | Percentages are based on Net Assets of $1,072,060 ($ Thousands). |
| \* | Non-income producing security. |
| (A) | Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates. |
| (B) | Pre-Refunded Securities — The maturity date shown is the pre-refunded date. |
| (C) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration normally to qualified institutions. On November 30, 2022, the value of these securities amounted to $230,353 ($ Thousands), representing 21.5% of the Net Assets of the Fund. |
| (D) | Security is in default on interest payment. |
| (E) | No interest rate available. |
| (F) | Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. |
| (G) | Zero coupon security.  |
| (H) | Security is escrowed to maturity. |
| (I) | Perpetual security with no stated maturity date. |
| (J) | Level 3 security in accordance with fair value hierarchy. |
| (K) | Interest rate represents the security's effective yield at the time of purchase. |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| The following is a summary of the level of inputs used as of November 30, 2022, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands): | The following is a summary of the level of inputs used as of November 30, 2022, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands): | The following is a summary of the level of inputs used as of November 30, 2022, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands): | The following is a summary of the level of inputs used as of November 30, 2022, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands): | The following is a summary of the level of inputs used as of November 30, 2022, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands): |
| **Investments in Securities** | **Level 1<br> ($)** | **Level 2<br> ($)** | **Level 3<br> ($)<sup>(1)</sup>** | **Total<br> ($)** |
| &nbsp;&nbsp;&nbsp;Municipal Bonds |  | 758435 |  | 758435 |
| &nbsp;&nbsp;&nbsp;Corporate Obligations |  | 202825 | 5848 | 208673 |
| &nbsp;&nbsp;&nbsp;Preferred Stock | 42423 | 14228 |  | 56651 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Obligations | – | 31117 | – | 31117 |
| Total Investments in Securities | 42423 | 1006605 | 5848 | 1054876 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Other Financial Instruments** | **Level 1<br> ($)** | **Level 2<br> ($)** | **Level 3<br> ($)** | **Total<br> ($)** |
| &nbsp;&nbsp;Futures Contracts\* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Unrealized Depreciation | (32) |  |  | (32) |
| Total Other Financial Instruments | (32) |  |  | (32) |

---

(1) A reconciliation of Level 3 investments and disclosures of significant unobservable inputs are presented when the Fund has a significant amount of Level 3 investments at the end of the period in relation to Net Assets. Management has concluded that Level 3 investments are not material in relation to Net Assets.

\* Futures contracts and forward contracts are valued at unrealized appreciation (depreciation) on the instrument.

For information on the Fund's policy regarding valuation of investments, fair value hierarchy levels and other significant accounting policies, please refer to Note 2 of the Fund's most recent financial statements.

The following is a summary of the transactions with affiliates for the period ended November 30, 2022 ($ Thousands):

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description**  | **Value 8/31/22** | **Purchases at Cost**  | **Proceeds from Sales**  | **Realized Gain/ (Loss)** | **Change in Unrealized Appreciation/ (Depreciation)** | **Value 11/30/22** | **Income**  | **Capital Gains** |
| SEI Daily Income Trust, Government Fund, Cl F | $&nbsp;&nbsp;&nbsp;&nbsp;685 | $&nbsp;&nbsp;&nbsp;&nbsp;21676 | $&nbsp;&nbsp;&nbsp;&nbsp;(22361) | $&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;50 | $&nbsp;&nbsp;&nbsp;&nbsp;— |

---

Amounts designated as "—" are $0 or have been rounded to $0.

See "Glossary" for abbreviations.

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

**Glossary: (abbreviations which may be used in the preceding Schedules of Investments)** 

November 30, 2022

---

| |
|:---|
| **Portfolio Abbreviations** |
| AGC — Assured Guaranty Corporation |
| AGM— Assured Guaranty Municipal |
| AMBAC — American Municipal Bond Assurance Co. |
| AMT — Alternative Minimum Tax |
| BAM — Build America Mutual Assurance Corp. |
| BAN — Bond Anticipation Note |
| Cl — Class |
| COP — Certificate of Participation |
| FHA— Federal Housing Administration |
| FHLMC — Federal Home Loan Mortgage Corporation |
| FGIC — Financial Guaranty Insurance Company |
| FNMA — Federal National Mortgage Association |
| GNMA — Government National Mortgage Association |
| GO — General Obligation |
| H15T7Y — US Treasury Yield Curve Rate T Note Constant Maturity 7 Year |
| LIBOR— London Interbank Offered Rate |
| MTN — Medium Term Note |
| NATL — National Public Finance Guarantee Corp. |
| PSF-GTD — Permanent School Board Loan Fund |
| Q-SBLF — Qualified State Bond Loan Fund |
| RB — Revenue Bond |
| SAB — Special Assessment Bond |
| Ser— Series |
| TA — Tax Allocation |
| TRAN – Tax Revenue Anticipation Note |
| USD — U.S. Dollar |

---

------

SEI Tax Exempt Trust / Quarterly Report / November 30, 2022

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** SEI TAX EXEMPT TRUST

- **b. Investment Company Act file number:** 811-03447

- **c. CIK number of Registrant:** 0000701817

- **d. LEI of Registrant:** 549300HVETA65JWIV692

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

  - **Street Address 1:** ONE FREEDOM VALLEY DRIVE

  - **City:** OAKS

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19456

  - **Telephone number:** 8003425734

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

- **a. Name of Series:** INTERMEDIATE-TERM MUNICIPAL FUND

- **b. EDGAR series identifier (if any):** S000006439

- **c. LEI of Series:** 549300JU0DMQV9KM2741

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

- **a. Date of fiscal year-end:** 2023-08-31

- **b. Date as of which information is reported:** 2022-11-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1759571622.65

**Total Liabilities:** $6157224.93

**Net Assets:** $1753414397.72

**Cash Not Reported:** $3394937.36

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -3397.66168882 | **1-Year:** -88863.19460837 | **5-Year:** -252188.61352601 | **10-Year:** -285571.08801167 | **30-Year:** -41964.45113555

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

- **3-Month:** -425.36651596 | **1-Year:** -7843.52243545 | **5-Year:** -43903.69067135 | **10-Year:** -56160.08368169 | **30-Year:** -15852.09570600

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000017636 | 3.84%                | -0.73%               | -3.44%               |
| Class ID C000147417 | 3.85%                | -0.61%               | -3.51%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-4480889.86             | $65738861.37                               |
| Month 2  | $-2964812.96             | $-12807426.00                              |
| Month 3  | $-2483248.78             | $-67760236.54                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| PORT AUTH N Y & N J                                                            | PORT AUTH OF NEW YORK & NEW JE PORT AUTHORITY OF NEW YORK & NEW JERSEY            | CUSIP: 73358W3E2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5269005.50   | 0.30%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST                                                                        | UTAH ST STATE OF UTAH                                                             | CUSIP: 917542WU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    495000 | PA      | $484119.21    | 0.03%             | 2034-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS DEPT TRANSN MET HWY SYS REV                                      | MASSACHUSETTS ST DEPT OF TRANS MASSACHUSETTS TRANSPORTATION TRUST FUND METROPOLIT | CUSIP: 57563CES7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3309393.00   | 0.19%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST                                                                       | TEXAS ST STATE OF TEXAS                                                           | CUSIP: 882724VX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    435000 | PA      | $445470.02    | 0.03%             | 2031-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TEX HIGHER ED FIN CORP ED REV                                        | ARLINGTON TX HGR EDU FIN CORP ARLINGTON HIGHER EDUCATION FINANCE CORP             | CUSIP: 0418067N4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    695000 | PA      | $763284.10    | 0.04%             | 2040-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA PUB FIN AUTH SR LIVING REV                                          | CALIFORNIA PUBLIC FIN AUTH SEN CALIFORNIA PUBLIC FINANCE AUTHORITY                | CUSIP: 13057GAF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    355000 | PA      | $326661.63    | 0.02%             | 2028-11-15      | Fixed         | 2.38%                 | Yes           |                  2 | On Loan: No      |
| ST JOHN BAPTIST PARISH LA REV                                                  | SAINT JOHN THE BAPTIST PARISH PARISH OF ST JOHN THE BAPTIST LA                    | CUSIP: 79020FBA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    590000 | PA      | $544346.27    | 0.03%             | 2037-06-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FLA SCH BRD CTFS PARTN                                         | MIAMI-DADE CNTY FL SCH BRD COP SCHOOL BOARD OF MIAMI-DADE COUNTY/THE              | CUSIP: 59333MR72<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6985000 | PA      | $7302992.82   | 0.42%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RENO NEV SALES TAX REV                                                         | RENO NV SALES TAX REVENUE CITY OF RENO NV                                         | CUSIP: 759861DP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    590000 | PA      | $619814.06    | 0.04%             | 2037-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST                                                                  | NEW JERSEY ST STATE OF NEW JERSEY                                                 | CUSIP: 646039YS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3070000 | PA      | $3247546.70   | 0.19%             | 2032-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GREENEVILLE TENN HEALTH & EDL FACS BRD HOSP REV                                | GREENEVILLE TN HLTH & EDUCTNL GREENEVILLE HEALTH & EDUCATIONAL FACILITIES BOARD   | CUSIP: 396649EP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3015865.20   | 0.17%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARKE CNTY GA HOSP AUTH REV CTFS                                              | CLARKE CNTY GA HOSP AUTH CLARKE COUNTY HOSPITAL AUTHORITY                         | CUSIP: 181685HX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1075000 | PA      | $1108235.88   | 0.06%             | 2024-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST                                                                | PENNSYLVANIA ST COMMONWEALTH OF PENNSYLVANIA                                      | CUSIP: 70914PB68<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2702936.75   | 0.15%             | 2026-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT AUTH IOWA TOB SETTLEMENT REV                                | TOBACCO SETTLEMENT AUTH IA TOB IOWA TOBACCO SETTLEMENT AUTHORITY                  | CUSIP: 888805CH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    610000 | PA      | $605659.79    | 0.03%             | 2049-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HIGHER ED ASSISTANCE AUTH STUD LN                                | NEW JERSEY ST HGR EDU ASSISTAN NEW JERSEY HIGHER EDUCATION STUDENT ASSISTANCE AUT | CUSIP: 646080TR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2476896.72   | 0.14%             | 2024-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEASTERN PA TRANSN AUTH REV                                                | S ESTRN PA TRANSPRTN AUTH SOUTHEASTERN PENNSYLVANIA TRANSPORTATION AUTHORITY      | CUSIP: 842039FK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2551727.48   | 0.15%             | 2039-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSN DEV CORP SPL FAC REV                                           | NEW YORK ST TRANSPRTN DEV CORP NEW YORK TRANSPORTATION DEVELOPMENT CORP           | CUSIP: 650116FH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    775000 | PA      | $802451.20    | 0.05%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREATER ASHEVILLE REGL ARPT AUTH N C ARPT SYS REV                              | GTR ASHEVILLE REGL ARPT AUTH N GREATER ASHEVILLE REGIONAL AIRPORT AUTHORITY       | CUSIP: 39160CAE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $480818.27    | 0.03%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH REV                                                          | ILLINOIS ST FIN AUTH REVENUE ILLINOIS FINANCE AUTHORITY                           | CUSIP: 45204FEG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    605000 | PA      | $620536.46    | 0.04%             | 2050-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST MUN PWR AGY ELEC REV                                              | MINNESOTA ST MUNI PWR AGY ELEC MINNESOTA MUNICIPAL POWER AGENCY                   | CUSIP: 60412PEN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $364260.37    | 0.02%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON CNTY VA INDL DEV AUTH HOSP FAC REV                                   | ARLINGTON CNTY VA INDL DEV AUT ARLINGTON COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY  | CUSIP: 041438GQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $406018.69    | 0.02%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH TEX TWY AUTH REV                                                         | N TX TOLLWAY AUTH REVENUE NORTH TEXAS TOLLWAY AUTHORITY                           | CUSIP: 66285WVW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2668422.25   | 0.15%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HENRY CNTY GA HOSP AUTH REV                                                    | HENRY CNTY GA HOSP AUTH D/B/A HENRY COUNTY HOSPITAL AUTHORITY                     | CUSIP: 426357FZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1698949.56   | 0.10%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECONOMIC DEV FING AUTH UPMC REV                                   | PENNSYLVANIA ST ECON DEV FING PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHOR  | CUSIP: 70870JCY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2523131.97   | 0.14%             | 2033-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BURKE CNTY GA DEV AUTH POLLUTN CTL REV                                         | BURKE CNTY GA DEV AUTH POLL CO DEVELOPMENT AUTHORITY OF BURKE COUNTY/THE          | CUSIP: 121342NR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    785000 | PA      | $736933.82    | 0.04%             | 2040-01-01      | Floating      | 1.50%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON N Y LOC DEV CORP REV                                                | HUNTINGTON NY LOCAL DEV CORP R HUNTINGTON LOCAL DEVELOPMENT CORP                  | CUSIP: 446490AT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     90000 | PA      | $86616.08     | 0.00%             | 2025-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN PIER & EXPOSITION AUTH ILL REV                                    | MET PIER & EXPOSITION AUTH IL METROPOLITAN PIER & EXPOSITION AUTHORITY            | CUSIP: 592250CT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    255000 | PA      | $261949.23    | 0.01%             | 2032-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CITY & CNTY ARPT REV                                               | DENVER CITY & CNTY CO ARPT REV CITY & COUNTY OF DENVER CO AIRPORT SYSTEM REVENUE  | CUSIP: 249182HG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10189244.00  | 0.58%             | 2027-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of New York                                                               | NEW YORK NY CITY OF NEW YORK NY                                                   | CUSIP: 64966QJ76<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    280000 | PA      | $324691.00    | 0.02%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FD LTD OBLIG REV                                         | MICHIGAN ST STRATEGIC FUND LTD MICHIGAN STRATEGIC FUND                            | CUSIP: 594698QL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3575417.30   | 0.20%             | 2031-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOVE FIELD ARPT MODERNIZATION CORP TEX GEN ARPT REV                            | LOVE FIELD TX ARPT MODERNIZATI LOVE FIELD AIRPORT MODERNIZATION CORP              | CUSIP: 54714CBF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1048401.30   | 0.06%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENTON TEX UTIL SYS REV                                                        | DENTON TX UTILITY SYS REVENUE CITY OF DENTON TX UTILITY SYSTEM REVENUE            | CUSIP: 249015C63<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7500000 | PA      | $8042103.00   | 0.46%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO HSG & FIN ASSN                                                           | IDAHO ST HSG & FIN ASSN IDAHO HOUSING & FINANCE ASSOCIATION                       | CUSIP: 45129WPX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    835000 | PA      | $937403.31    | 0.05%             | 2029-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUB SVCS AUTH REV                                            | SOUTH CAROLINA ST PUBLIC SVC A SOUTH CAROLINA PUBLIC SERVICE AUTHORITY            | CUSIP: 837151XZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2207394.90   | 0.13%             | 2036-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSN AUTH N Y REV                                               | MET TRANSPRTN AUTH NY REVENUE METROPOLITAN TRANSPORTATION AUTHORITY               | CUSIP: 59261AG68<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $528649.50    | 0.03%             | 2045-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BROWARD CNTY FLA ARPT SYS REV                                                  | BROWARD CNTY FL ARPT SYS REVEN COUNTY OF BROWARD FL AIRPORT SYSTEM REVENUE        | CUSIP: 114894XP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1356157.79   | 0.08%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CONVENTION CTR HOTEL AUTH REV                                      | DENVER CO CONVENTION CENTER HO DENVER CONVENTION CENTER HOTEL AUTHORITY           | CUSIP: 249189DL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1219318.44   | 0.07%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                                | NEW JERSEY ST TRANSPRTN TRUST NEW JERSEY TRANSPORTATION TRUST FUND AUTHORITY      | CUSIP: 6461367V7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    955000 | PA      | $1062474.84   | 0.06%             | 2031-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                                            | PUERTO RICO CMWLTH COMMONWEALTH OF PUERTO RICO                                    | CUSIP: 74514L3G0<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   3400000 | PA      | $3478204.76   | 0.20%             | 2027-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| NEWARK N J BRD ED                                                              | NEWARK NJ BRD OF EDU NEWARK BOARD OF EDUCATION                                    | CUSIP: 650370DC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $304417.77    | 0.02%             | 2023-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA HSG DEV AUTH                                                      | SOUTH DAKOTA ST HSG DEV AUTH SOUTH DAKOTA HOUSING DEVELOPMENT AUTHORITY           | CUSIP: 83756CZA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    840000 | PA      | $840342.47    | 0.05%             | 2049-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY CENT ARK                                                            | UNIV OF CENTRAL ARKANSAS AR RE UNIVERSITY OF CENTRAL ARKANSAS                     | CUSIP: 914115RC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1265000 | PA      | $1332022.23   | 0.08%             | 2026-04-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| PEFA INC IOWA GAS PROJ REV                                                     | PEFA INC IA GAS PROJ REVENUE PEFA INC                                             | CUSIP: 70556CAB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1024257.70   | 0.06%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GUAM PWR AUTH REV                                                              | GUAM PWR AUTH REVENUE GUAM POWER AUTHORITY                                        | CUSIP: 400653JY8<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |   2205000 | PA      | $2330604.52   | 0.13%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH REV                                                  | COLORADO ST HLTH FACS AUTH REV COLORADO HEALTH FACILITIES AUTHORITY               | CUSIP: 19648FXB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $253232.08    | 0.01%             | 2026-11-19      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HSG DEV COMMN SINGLE FAMILY MTG REV                                | MISSOURI ST HSG DEV COMMISSION MISSOURI HOUSING DEVELOPMENT COMMISSION            | CUSIP: 60637BXS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    580000 | PA      | $571659.37    | 0.03%             | 2050-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH REV                                                  | COLORADO ST HLTH FACS AUTH REV COLORADO HEALTH FACILITIES AUTHORITY               | CUSIP: 19648FLF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2828271.00   | 0.16%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENDALL KANE & WILL CNTYS ILL CMNTY UNIT SCH DIST NO 308                       | KENDALL KANE & WILL CNTYS IL C KENDALL KANE & WILL COUNTIES COMMUNITY UNIT SCHOOL | CUSIP: 488764YE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $245810.28    | 0.01%             | 2025-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH REV                                                  | COLORADO ST HLTH FACS AUTH REV COLORADO HEALTH FACILITIES AUTHORITY               | CUSIP: 19648FWH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $948314.15    | 0.05%             | 2033-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST                                                                  | WASHINGTON ST STATE OF WASHINGTON                                                 | CUSIP: 93974DHD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2540000 | PA      | $2634559.37   | 0.15%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA HIGHER EDL FACS FING AUTH REV                                          | FLORIDA ST HGR EDUCTNL FACS FI FLORIDA HIGHER EDUCATIONAL FACILITIES FINANCIAL AU | CUSIP: 34073TJZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1295000 | PA      | $1309078.07   | 0.07%             | 2037-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TEX ELEC & GAS REV                                                 | SAN ANTONIO TX ELEC & GAS REVE CITY OF SAN ANTONIO TX ELECTRIC & GAS SYSTEMS REVE | CUSIP: 79625GFS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    940000 | PA      | $943907.77    | 0.05%             | 2023-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV 21ST CENTY COLLEGE & EQUIP PROG     | VIRGINIA ST CLG BLDG AUTH EDUC VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778VLQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2223874.60   | 0.13%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REGIONAL TRAN AUTH LA SALES TAX REV                                            | REGL TRANSIT AUTH LA SALES TAX REGIONAL TRANSIT AUTHORITY SALES TAX REVENUE       | CUSIP: 75912RCD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    515000 | PA      | $557262.08    | 0.03%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORT SMITH ARK WTR & SWR REV                                                   | FORT SMITH AR WTR & SWR REVENU CITY OF FORT SMITH AR WATER & SEWER REVENUE        | CUSIP: 348815PN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1612363.05   | 0.09%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST MUN PWR AGY REV                                                     | FLORIDA ST MUNI PWR AGY FLORIDA MUNICIPAL POWER AGENCY                            | CUSIP: 342816G33<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1057213.90   | 0.06%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA WTR & WASTEWTR REV                                                  | ATLANTA GA WTR & WSTWTR REVENU CITY OF ATLANTA GA WATER & WASTEWATER REVENUE      | CUSIP: 047870NB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5010000 | PA      | $5288387.16   | 0.30%             | 2033-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST CMNTY DEV ADMIN DEPT HSG & CMNTY DEV                               | MARYLAND ST CMNTY DEV ADMIN DE MARYLAND COMMUNITY DEVELOPMENT ADMINISTRATION      | CUSIP: 57419TDL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    435000 | PA      | $429465.23    | 0.02%             | 2050-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| WISCONSIN CTR DIST WIS TAX REV                                                 | WISCONSIN CENTER DIST WI TAX R WISCONSIN CENTER DISTRICT                          | CUSIP: 976595FG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    370000 | PA      | $287020.25    | 0.02%             | 2029-12-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSN AUTH N Y REV                                               | MET TRANSPRTN AUTH NY REVENUE METROPOLITAN TRANSPORTATION AUTHORITY               | CUSIP: 59261AE60<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1019788.50   | 0.06%             | 2034-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COOK CNTY ILL                                                                  | COOK CNTY IL COUNTY OF COOK IL                                                    | CUSIP: 213185MD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    730000 | PA      | $754602.39    | 0.04%             | 2026-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MONROE CNTY N Y INDL DEV CORP REV                                              | MONROE CNTY NY INDL DEV CORP R MONROE COUNTY INDUSTRIAL DEVELOPMENT CORP/NY       | CUSIP: 61075TPP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1325000 | PA      | $1443430.62   | 0.08%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ALA GAS SUPPLY DIST GAS SUPPLY REV                                   | S E ALABAMA ST GAS SPLY DIST G SOUTHEAST ALABAMA GAS SUPPLY DISTRICT/THE          | CUSIP: 84131TAF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4993979.00   | 0.28%             | 2049-04-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH JERSEY PORT CORP N J REV                                                 | SOUTH JERSEY NJ PORT CORP SOUTH JERSEY PORT CORP                                  | CUSIP: 838530RC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    570000 | PA      | $590540.69    | 0.03%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH ENVIRONMENTAL FACS REV                                     | INDIANA ST FIN AUTH ENVRNMNTL INDIANA FINANCE AUTHORITY                           | CUSIP: 455059AG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1930000 | PA      | $1926006.25   | 0.11%             | 2024-12-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| GEO L SMITH II GA WORLD CONGRESS CTR AUTH CONVENTION CTR HOTEL REV             | GEO L SMITH II GA CONGRESS CTR GEORGE L SMITH II CONGRESS CENTER AUTHORITY        | CUSIP: 37255MAE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    710000 | PA      | $662635.97    | 0.04%             | 2036-01-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CHICAGO ILL BRD ED                                                             | CHICAGO IL BRD OF EDU CHICAGO BOARD OF EDUCATION                                  | CUSIP: 167505XH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1435000 | PA      | $1435884.68   | 0.08%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TEX ELEC & GAS REV                                                 | SAN ANTONIO TX ELEC & GAS REVE CITY OF SAN ANTONIO TX ELECTRIC & GAS SYSTEMS REVE | CUSIP: 7962532J0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6181320.60   | 0.35%             | 2024-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BROOKHAVEN N Y LOC DEV CORP REV                                                | BROOKHAVEN NY LOCAL DEV CORP R BROOKHAVEN LOCAL DEVELOPMENT CORP                  | CUSIP: 113168BM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    340000 | PA      | $314630.80    | 0.02%             | 2025-11-01      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| CLIFTON TEX HIGHER ED FIN CORP ED REV                                          | CLIFTON TX HGR EDU FIN CORP ED CLIFTON HIGHER EDUCATION FINANCE CORP              | CUSIP: 187145CT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1082680.41   | 0.06%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH REV                                               | NEW JERSEY ST ECON DEV AUTH RE NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY          | CUSIP: 64577XDP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    285000 | PA      | $314159.95    | 0.02%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FLA EDL FACS AUTH REV                                          | MIAMI-DADE CNTY FL EDUCTNL FAC MIAMI-DADE COUNTY EDUCATIONAL FACILITIES AUTHORITY | CUSIP: 59333ALU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    910000 | PA      | $942808.59    | 0.05%             | 2031-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS TRANSN COMMN CENT TEX TPK SYS REV                                        | TEXAS ST TRANSPRTN COMMISSION CENTRAL TEXAS TURNPIKE SYSTEM                       | CUSIP: 88283KAU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2559551.75   | 0.15%             | 2031-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HSG & ECONOMIC DEV AUTH HSG REV                                      | WISCONSIN ST HSG & ECON DEV AU WISCONSIN HOUSING & ECONOMIC DEVELOPMENT AUTHORITY | CUSIP: 976904Y30<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $225237.12    | 0.01%             | 2050-11-01      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH REV                                               | NEW JERSEY ST ECON DEV AUTH RE NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY          | CUSIP: 64577B4D3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    995000 | PA      | $1066538.41   | 0.06%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BIRMINGHAM ALA ARPT AUTH ARPT REV                                              | BIRMINGHAM AL ARPT AUTH ARPT R BIRMINGHAM AIRPORT AUTHORITY                       | CUSIP: 090888GM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1075000 | PA      | $1171342.25   | 0.07%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP SALES TAX REV                                  | PUERTO RICO SALES TAX FING COR PUERTO RICO SALES TAX FINANCING CORP SALES TAX REV | CUSIP: 74529JPV1<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   8625000 | PA      | $8011162.20   | 0.46%             | 2040-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| DELAWARE VALLEY PA REGL FIN AUTH LOC GOVT REV                                  | DELAWARE VLY PA REGL FIN AUTH DELAWARE VALLEY REGIONAL FINANCE AUTHORITY          | CUSIP: 246579LA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3995135.20   | 0.23%             | 2048-09-01      | Floating      | 2.20%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS HEALTHCARE FACS REV                                        | PUBLIC FIN AUTH WI HLTHCARE FA PUBLIC FINANCE AUTHORITY                           | CUSIP: 74444KBU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $489220.46    | 0.03%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL O HARE INTL ARPT REV                                               | CHICAGO IL O'HARE INTERNATIONA CHICAGO O'HARE INTERNATIONAL AIRPORT               | CUSIP: 167593UY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3629110.45   | 0.21%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REGIONAL TRANSN DIST COLO PRIVATE ACTIVITY REV                                 | REGL CO TRANSPRTN DIST PRIV AC REGIONAL TRANSPORTATION DISTRICT                   | CUSIP: 759151BJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1115000 | PA      | $1197450.12   | 0.07%             | 2031-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BROWARD CNTY FLA ARPT SYS REV                                                  | BROWARD CNTY FL ARPT SYS REVEN COUNTY OF BROWARD FL AIRPORT SYSTEM REVENUE        | CUSIP: 114894ZE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1085991.60   | 0.06%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST HEALTH & HIGHER EDL FACS AUTH REV                                  | MARYLAND ST HLTH & HGR EDUCTNL MARYLAND HEALTH & HIGHER EDUCATIONAL FACILITIES AU | CUSIP: 574218V34<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5256661.00   | 0.30%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                            | CALIFORNIA ST STATE OF CALIFORNIA                                                 | CUSIP: 13063DLM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7900000 | PA      | $8941601.57   | 0.51%             | 2033-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSN DEV CORP SPL FAC REV                                           | NEW YORK ST TRANSPRTN DEV CORP NEW YORK TRANSPORTATION DEVELOPMENT CORP           | CUSIP: 650116DD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $128274.21    | 0.01%             | 2024-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH TRAN AUTH SALES TAX REV                                                   | UTAH ST TRANSIT AUTH SALES TAX UTAH TRANSIT AUTHORITY                             | CUSIP: 917567DP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1585000 | PA      | $1750021.48   | 0.10%             | 2032-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH REV                                                      | ARIZONA ST INDL DEV AUTH REVEN ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY           | CUSIP: 04052ABH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3310132 | PA      | $3185365.40   | 0.18%             | 2033-05-20      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| TEMPE ARIZ INDL DEV AUTH REV                                                   | TEMPE AZ INDL DEV AUTH REVENUE TEMPE INDUSTRIAL DEVELOPMENT AUTHORITY             | CUSIP: 87972MBL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    355000 | PA      | $336013.85    | 0.02%             | 2027-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS NEV CONVENTION & VISITORS AUTH CONVENTION CTR EXPANSION REV          | LAS VEGAS NV CONVENTION & VISI LAS VEGAS CONVENTION & VISITORS AUTHORITY          | CUSIP: 51771FAC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $206308.68    | 0.01%             | 2024-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                            | CALIFORNIA ST STATE OF CALIFORNIA                                                 | CUSIP: 13063DVY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    360000 | PA      | $362556.79    | 0.02%             | 2041-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NEV                                                                 | CLARK CNTY NV COUNTY OF CLARK NV                                                  | CUSIP: 180848SA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5412412.50   | 0.31%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEWARK N J BRD ED                                                              | NEWARK NJ BRD OF EDU NEWARK BOARD OF EDUCATION                                    | CUSIP: 650370DF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $560696.06    | 0.03%             | 2026-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA STUDENT LN LIQUIDITY CORP STUDENT LN REV                                  | IOWA ST STUDENT LOAN LIQUIDITY IOWA STUDENT LOAN LIQUIDITY CORP                   | CUSIP: 462590MJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    190000 | PA      | $190000.00    | 0.01%             | 2022-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSN DEV CORP SPL FAC REV                                           | NEW YORK ST TRANSPRTN DEV CORP NEW YORK TRANSPORTATION DEVELOPMENT CORP           | CUSIP: 650116FL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4056565.60   | 0.23%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST BLDG AUTH BLDG REV                                                    | IDAHO ST BLDG AUTH BLDG REVENU IDAHO STATE BUILDING AUTHORITY                     | CUSIP: 451443VS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $224016.43    | 0.01%             | 2023-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                            | CALIFORNIA ST STATE OF CALIFORNIA                                                 | CUSIP: 13063C6S4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3210611.70   | 0.18%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAINE HEALTH & HIGHER EDL FACS AUTH REV                                        | MAINE HLTH & HGR EDUCTNL FACS MAINE HEALTH & HIGHER EDUCATIONAL FACILITIES AUTHO  | CUSIP: 56042RG89<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    195000 | PA      | $197875.65    | 0.01%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HEALTH & EDL FACS AUTH REV                                      | CONNECTICUT ST HLTH & EDUCTNL CONNECTICUT STATE HEALTH & EDUCATIONAL FACILITIES   | CUSIP: 20775DDM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    255000 | PA      | $259659.44    | 0.01%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN PIER & EXPOSITION AUTH ILL REV                                    | MET PIER & EXPOSITION AUTH IL METROPOLITAN PIER & EXPOSITION AUTHORITY            | CUSIP: 592250EW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2910000 | PA      | $2613499.81   | 0.15%             | 2042-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV                                 | KENTUCKY ST PUBLIC ENERGY AUTH KENTUCKY PUBLIC ENERGY AUTHORITY                   | CUSIP: 74440DBD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  15725000 | PA      | $15680988.87  | 0.89%             | 2049-01-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY INDL DEV AGY REV                                             | NEW YORK CITY NY INDL DEV AGY NEW YORK CITY INDUSTRIAL DEVELOPMENT AGENCY         | CUSIP: 64971PLB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | PA      | $305133.28    | 0.02%             | 2033-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZATION CORP ILL                                              | SALES TAX SECURITIZATION CORP SALES TAX SECURITIZATION CORP                       | CUSIP: 79467BAJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    380000 | PA      | $408631.06    | 0.02%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY MICH UNIV REVS                                                      | UNIV OF MICHIGAN MI UNIVERSITY OF MICHIGAN                                        | CUSIP: 914455MB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    340000 | PA      | $340000.00    | 0.02%             | 2024-12-01      | Floating      | 0.95%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA ST HEALTH & EDL FACS AUTH REV                                     | SOUTH DAKOTA ST HLTH & EDUCTNL SOUTH DAKOTA HEALTH & EDUCATIONAL FACILITIES AUTHO | CUSIP: 83755VZU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1005000 | PA      | $1033999.17   | 0.06%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TEX CULTURAL ED FACS FIN CORP REV                                  | HARRIS CNTY TX CULTURAL EDU FA HARRIS COUNTY CULTURAL EDUCATION FACILITIES FINANC | CUSIP: 414009MG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2114818.20   | 0.12%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH REV                                                  | COLORADO ST HLTH FACS AUTH REV COLORADO HEALTH FACILITIES AUTHORITY               | CUSIP: 19648FJU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1578123.30   | 0.09%             | 2034-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH TEX MUN WTR DIST TEX WTR SYS REV                                         | N TEXAS ST MUNI WTR DIST WTR S NORTH TEXAS MUNICIPAL WATER DISTRICT WATER SYSTEM  | CUSIP: 662903QW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2560000 | PA      | $2767795.97   | 0.16%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HSG DEV COMMN SINGLE FAMILY MTG REV                                | MISSOURI ST HSG DEV COMMISSION MISSOURI HOUSING DEVELOPMENT COMMISSION            | CUSIP: 60637BWK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    855000 | PA      | $852207.06    | 0.05%             | 2050-05-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| OMAHA PUB PWR DIST NEB ELEC REV                                                | OMAHA NE PUBLIC PWR DIST ELEC OMAHA PUBLIC POWER DISTRICT                         | CUSIP: 682001HL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1897993.56   | 0.11%             | 2041-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY CONN                                                                | UNIV OF CONNECTICUT CT UNIVERSITY OF CONNECTICUT                                  | CUSIP: 9142333E9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5500000 | PA      | $6136715.75   | 0.35%             | 2037-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS MUN GAS ACQUISITION & SUPPLY CORP III GAS SUPPLY REV                     | TEXAS ST MUNI GAS ACQUISITION& TEXAS MUNICIPAL GAS ACQUISITION & SUPPLY CORP III  | CUSIP: 88256HBG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1046032.80   | 0.06%             | 2031-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CATHEDRAL CITY CALIF REDEV AGY SUCCESSOR AGY TAX ALLOCATION                    | CATHEDRAL CITY CA REDEV AGY SU CATHEDRAL CITY REDEVELOPMENT AGENCY SUCCESSOR AGEN | CUSIP: 14916YCT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $777898.88    | 0.04%             | 2033-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS RETIREMENT FAC REV                                         | PUBLIC FIN AUTH WI RETMNT FAC PUBLIC FINANCE AUTHORITY                            | CUSIP: 74444VBJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $243014.70    | 0.01%             | 2028-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA ARPT REV                                                            | ATLANTA GA ARPT REVENUE CITY OF ATLANTA GA DEPARTMENT OF AVIATION                 | CUSIP: 04780ME70<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1072494.10   | 0.06%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OCTORARA PA AREA SCH DIST                                                      | OCTORARA PA AREA SCH DIST OCTORARA AREA SCHOOL DISTRICT                           | CUSIP: 675740RT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $667397.38    | 0.04%             | 2025-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY ILL UNIV REVS                                                       | UNIV OF ILLINOIS IL REVENUES UNIVERSITY OF ILLINOIS                               | CUSIP: 914353ZH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3210000 | PA      | $3228606.44   | 0.18%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CORPUS CHRISTI TEX UTIL SYS REV                                                | CORPUS CHRISTI TX UTILITY SYSR CITY OF CORPUS CHRISTI TX UTILITY SYSTEM REVENUE   | CUSIP: 220245H72<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1673873.55   | 0.10%             | 2033-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV                                 | KENTUCKY ST PUBLIC ENERGY AUTH KENTUCKY PUBLIC ENERGY AUTHORITY                   | CUSIP: 74440DAR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10280000 | PA      | $10272153.28  | 0.59%             | 2048-04-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH N H SR LIVING REV                                            | NATIONAL FIN AUTH NH SENIOR LI NEW HAMPSHIRE BUSINESS FINANCE AUTHORITY           | CUSIP: 63608SAK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $271640.10    | 0.02%             | 2031-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HAWAII ST                                                                      | HAWAII ST STATE OF HAWAII                                                         | CUSIP: 419792YC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2044649.60   | 0.12%             | 2037-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HOSP FIN AUTH REV                                                  | MICHIGAN ST HOSP FIN AUTH MICHIGAN STATE HOSPITAL FINANCE AUTHORITY               | CUSIP: 59465HVU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    345000 | PA      | $356733.17    | 0.02%             | 2047-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EAST HEMPFIELD TWP PA INDL DEV AUTH REV                                        | E HEMPFIELD TWP PA INDL DEV AU EAST HEMPFIELD TOWNSHIP INDUSTRIAL DEVELOPMENT AUT | CUSIP: 273007BB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $749802.90    | 0.04%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FLA WTR & SWR REV                                              | MIAMI-DADE CNTY FL WTR & SWR R COUNTY OF MIAMI-DADE FL WATER & SEWER SYSTEM REVEN | CUSIP: 59334DMD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1812049.75   | 0.10%             | 2034-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS VY NEV WTR DIST                                                      | LAS VEGAS VLY NV WTR DIST LAS VEGAS VALLEY WATER DISTRICT                         | CUSIP: 517845MG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3585000 | PA      | $4182567.16   | 0.24%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH COMMODITY SUPPLY REV ALA                                 | SOUTHEAST ENERGY AUTH AL COMMO SOUTHEAST ENERGY AUTHORITY A COOPERATIVE DISTRICT  | CUSIP: 84136FBL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4920000 | PA      | $5228808.23   | 0.30%             | 2053-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PUBLIC PWR GENERATION AGY NEB REV                                              | PUBLIC PWR GENERATION AGY NE R PUBLIC POWER GENERATION AGENCY                     | CUSIP: 744434DN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5500000 | PA      | $5690793.90   | 0.32%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP SALES TAX REV                                  | PUERTO RICO SALES TAX FING COR PUERTO RICO SALES TAX FINANCING CORP SALES TAX REV | CUSIP: 74529JQH1<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |  22042000 | PA      | $4119918.71   | 0.23%             | 2051-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PORTS AUTH PORTS REV                                         | SOUTH CAROLINA ST PORTS AUTH P SOUTH CAROLINA PORTS AUTHORITY                     | CUSIP: 837123HB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1596899.70   | 0.09%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PORTS AUTH PORTS REV                                         | SOUTH CAROLINA ST PORTS AUTH P SOUTH CAROLINA PORTS AUTHORITY                     | CUSIP: 837123HA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2402503.43   | 0.14%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HSG DEV COMMN SINGLE FAMILY MTG REV                                | MISSOURI ST HSG DEV COMMISSION MISSOURI HOUSING DEVELOPMENT COMMISSION            | CUSIP: 60637BB41<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1267577.61   | 0.07%             | 2051-05-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| PHOENIX ARIZ CIVIC IMPT CORP ARPT REV                                          | PHOENIX AZ CIVIC IMPT CORP ARP CITY OF PHOENIX CIVIC IMPROVEMENT CORP             | CUSIP: 71883MPN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3100000 | PA      | $3345165.36   | 0.19%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLLIN CNTY TEX CMNTY COLLEGE DIST                                             | COLLIN CNTY TX CMNTY CLG DIST COLLIN COUNTY COMMUNITY COLLEGE DISTRICT            | CUSIP: 194741HP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2596371.50   | 0.15%             | 2034-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF DEPT ARPTS REV                                               | LOS ANGELES CA DEPT OF ARPTS A CITY OF LOS ANGELES DEPARTMENT OF AIRPORTS         | CUSIP: 544445NF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1620108.45   | 0.09%             | 2028-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST HSG & CMNTY DEV AUTH SINGLE FAMILY REV                              | INDIANA ST HSG & CMNTY DEV AUT INDIANA HOUSING & COMMUNITY DEVELOPMENT AUTHORITY  | CUSIP: 45505TTF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $315071.19    | 0.02%             | 2051-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ALACHUA CNTY FLA HEALTH FACS AUTH HEALTH FACS REV                              | ALACHUA CNTY FL HLTH FACS AUTH ALACHUA COUNTY HEALTH FACILITIES AUTHORITY         | CUSIP: 010685KV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1620074.25   | 0.09%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS REV                           | NEW YORK CITY NY MUNI WTR FIN NEW YORK CITY MUNICIPAL WATER FINANCE AUTHORITY     | CUSIP: 64972FX27<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3530000 | PA      | $3530000.00   | 0.20%             | 2043-06-15      | Floating      | 1.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL BRD ED DEDICATED CAP IMPT                                          | CHICAGO IL BRD OF EDU DEDICATE CHICAGO BOARD OF EDUCATION                         | CUSIP: 167510AJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $450622.98    | 0.03%             | 2036-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HEALTH & EDL FACS AUTH REV                                      | CONNECTICUT ST HLTH & EDUCTNL CONNECTICUT STATE HEALTH & EDUCATIONAL FACILITIES   | CUSIP: 20775DDL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    390000 | PA      | $395701.92    | 0.02%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI HOME CORP SINGLE FAMILY MTG REV                                    | MISSISSIPPI ST HOME CORP SF MT MISSISSIPPI HOME CORP                              | CUSIP: 60535QXL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $106619.29    | 0.01%             | 2050-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                                | NEW JERSEY ST TRANSPRTN TRUST NEW JERSEY TRANSPORTATION TRUST FUND AUTHORITY      | CUSIP: 6461366A4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $290924.45    | 0.02%             | 2024-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HIDALGO CNTY TEX REGL MOBILITY AUTH TOLL & VEH REGISTRATION FEE REV            | HIDALGO CNTY TX REGL MOBILITY HIDALGO COUNTY REGIONAL MOBILITY AUTHORITY          | CUSIP: 42934AAE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $314049.42    | 0.02%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VAUXMONT MET DIST COLO                                                         | VAUXMONT MET DIST CO VAUXMONT METROPOLITAN DISTRICT                               | CUSIP: 92242SAF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $235619.89    | 0.01%             | 2026-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY REV                                               | MASSACHUSETTS ST DEV FIN AGY R MASSACHUSETTS DEVELOPMENT FINANCE AGENCY           | CUSIP: 57584XDQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1575717.90   | 0.09%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL BRD ED                                                             | CHICAGO IL BRD OF EDU CHICAGO BOARD OF EDUCATION                                  | CUSIP: 167505YC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $431522.34    | 0.02%             | 2047-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV                        | CALIFORNIA CMNTY CHOICE FING A CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY    | CUSIP: 13013JBJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1999360.60   | 0.11%             | 2053-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL TRAN AUTH SALES TAX RCPTS REV                                      | CHICAGO IL TRANSIT AUTH SALES CHICAGO TRANSIT AUTHORITY SALES TAX RECEIPTS FUND   | CUSIP: 16772PCE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1752776.20   | 0.10%             | 2055-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS EDL FING AUTH ED LN REV                                          | MASSACHUSETTS ST EDUCTNL FING MASSACHUSETTS EDUCATIONAL FINANCING AUTHORITY       | CUSIP: 57563RSH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1626431.10   | 0.09%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY REV                                               | MASSACHUSETTS ST DEV FIN AGY R MASSACHUSETTS DEVELOPMENT FINANCE AGENCY           | CUSIP: 57584YA74<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $304870.74    | 0.02%             | 2023-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AUSTIN-BERGSTROM LANDHOST ENTERPRISES INC TEX ARPT HOTEL REV                   | AUSTIN-BERGSTROM LANDHOST ENTE AUSTIN-BERGSTROM LANDHOST ENTERPRISES INC          | CUSIP: 052193AL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    465000 | PA      | $485893.10    | 0.03%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEMPE ARIZ INDL DEV AUTH REV                                                   | TEMPE AZ INDL DEV AUTH REVENUE TEMPE INDUSTRIAL DEVELOPMENT AUTHORITY             | CUSIP: 87972MAV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $864904.41    | 0.05%             | 2027-10-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA GAS SUPPLY REV                                         | MAIN STREET NATURAL GAS INC GA MAIN STREET NATURAL GAS INC                        | CUSIP: 56035DDH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2910000 | PA      | $2915413.18   | 0.17%             | 2052-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST MUN PWR AGY ELEC REV                                              | MINNESOTA ST MUNI PWR AGY ELEC MINNESOTA MUNICIPAL POWER AGENCY                   | CUSIP: 60412PEQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $624227.76    | 0.04%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST SPL TAX OBLIG REV                                               | CONNECTICUT ST SPL TAX OBLIG R STATE OF CONNECTICUT SPECIAL TAX REVENUE           | CUSIP: 207758YE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2234003.60   | 0.13%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH FING AUTH PA TOB MASTER SETTLEMENT PMT REV                        | CMWLTH FING AUTH PA TOBACCO MA COMMONWEALTH FINANCING AUTHORITY                   | CUSIP: 20282EAG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2995000 | PA      | $3188497.37   | 0.18%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UTAH ARPT REV                                                   | SALT LAKE CITY UT ARPT REVENUE CITY OF SALT LAKE CITY UT AIRPORT REVENUE          | CUSIP: 795576FU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5180392.00   | 0.30%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REGIONAL TRANSN AUTH ILL                                                       | REGL TRANSPRTN AUTH IL REGIONAL TRANSPORTATION AUTHORITY                          | CUSIP: 759911NG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3136317.60   | 0.18%             | 2025-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZATION CORP ILL                                              | SALES TAX SECURITIZATION CORP SALES TAX SECURITIZATION CORP                       | CUSIP: 79467BCX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $212313.14    | 0.01%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL MET WTR RECLAMATION DIST GTR CHICAGO                               | CHICAGO IL MET WTR RECLAMATION METROPOLITAN WATER RECLAMATION DISTRICT OF GREATER | CUSIP: 167560VY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1740682.35   | 0.10%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX ARIZ CIVIC IMPT CORP ARPT REV                                          | PHOENIX AZ CIVIC IMPT CORP ARP CITY OF PHOENIX CIVIC IMPROVEMENT CORP             | CUSIP: 71883MMS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2153467.00   | 0.12%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MUNICIPAL ELEC AUTH GA                                                         | MUNI ELEC AUTH OF GEORGIA MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA                 | CUSIP: 626207Q49<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4140000 | PA      | $4379578.90   | 0.25%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH REV                                                          | ILLINOIS ST FIN AUTH REVENUE ILLINOIS FINANCE AUTHORITY                           | CUSIP: 45203HS37<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2045311.60   | 0.12%             | 2034-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS POLLUTION CTL REV                                          | PUBLIC FIN AUTH WI POLL CONTRO PUBLIC FINANCE AUTHORITY                           | CUSIP: 74447HAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10450000 | PA      | $10456879.24  | 0.60%             | 2046-10-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| ORLANDO FLA UTILS COMMN UTIL SYS REV                                           | ORLANDO FL UTILITIES COMMISSIO ORLANDO UTILITIES COMMISSION                       | CUSIP: 686507JC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3789332.05   | 0.22%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL WTR REV                                                            | CHICAGO IL WTRWKS REVENUE CITY OF CHICAGO IL WATERWORKS REVENUE                   | CUSIP: 167736F77<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2360000 | PA      | $2475922.26   | 0.14%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY ARIZ INDL DEV AUTH SR LIVING FACS REV                            | MARICOPA CNTY AZ INDL DEV AUTH MARICOPA COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY   | CUSIP: 56682PBT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1560000 | PA      | $1211667.76   | 0.07%             | 2036-01-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| OHIO ST HIGHER EDL FAC COMMN  REV                                              | OHIO ST HGR EDUCTNL FAC COMMIS OHIO HIGHER EDUCATIONAL FACILITY COMMISSION        | CUSIP: 67756DRH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2615000 | PA      | $2854559.63   | 0.16%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUB SVCS AUTH REV                                            | SOUTH CAROLINA ST PUBLIC SVC A SOUTH CAROLINA PUBLIC SERVICE AUTHORITY            | CUSIP: 837151XT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    385000 | PA      | $404392.68    | 0.02%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY-HOUSTON SPORTS AUTH TEX REV                                        | HARRIS CNTY-HOUSTON TX SPORTS HARRIS COUNTY-HOUSTON SPORTS AUTHORITY              | CUSIP: 413890DE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3310000 | PA      | $3408495.67   | 0.19%             | 2030-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NEV SCH DIST                                                        | CLARK CNTY NV SCH DIST CLARK COUNTY SCHOOL DISTRICT                               | CUSIP: 181059J49<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1124489.90   | 0.06%             | 2029-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| APPLING CNTY GA DEV AUTH POLLUTN CTL REV                                       | APPLING CNTY GA DEV AUTH DEVELOPMENT AUTHORITY OF APPLING COUNTY                  | CUSIP: 038315EW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $281630.76    | 0.02%             | 2038-01-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| VILLAGE CMNTY DEV DIST NO 13 FLA SPL ASSMT REV                                 | VLG FL CDD #13 SPL ASSMNT REVE VILLAGE COMMUNITY DEVELOPMENT DISTRICT NO 13       | CUSIP: 92708HAL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $479225.15    | 0.03%             | 2026-05-01      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA SCH DIST                                                       | PHILADELPHIA PA SCH DIST SCHOOL DISTRICT OF PHILADELPHIA/THE                      | CUSIP: 717883YJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1410000 | PA      | $1550580.24   | 0.09%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS EDL FING AUTH ED LN REV                                          | MASSACHUSETTS ST EDUCTNL FING MASSACHUSETTS EDUCATIONAL FINANCING AUTHORITY       | CUSIP: 57563RSG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1216449.68   | 0.07%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY INDL DEV AGY REV                                             | NEW YORK CITY NY INDL DEV AGY NEW YORK CITY INDUSTRIAL DEVELOPMENT AGENCY         | CUSIP: 64971PKA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $111050.15    | 0.01%             | 2030-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUCKEYE OHIO TOB SETTLEMENT FING AUTH                                          | BUCKEYE OH TOBACCO SETTLEMENT BUCKEYE TOBACCO SETTLEMENT FINANCING AUTHORITY      | CUSIP: 118217CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1465962.72   | 0.08%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV CALIF REGTS MED CTR POOLED REV                                            | UNIV OF CALIFORNIA CA RGTS MED REGENTS OF THE UNIVERSITY OF CALIFORNIA MEDICAL CE | CUSIP: 913366KG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $832945.47    | 0.05%             | 2034-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL                                                                    | CHICAGO IL CITY OF CHICAGO IL                                                     | CUSIP: 167486E88<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    355000 | PA      | $355347.15    | 0.02%             | 2023-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New York                                                               | NEW YORK NY CITY OF NEW YORK NY                                                   | CUSIP: 64966QXQ8<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4019677.60   | 0.23%             | 2037-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TPK AUTH TPK REV                                                 | NEW JERSEY ST TURNPIKE AUTH TU NEW JERSEY TURNPIKE AUTHORITY                      | CUSIP: 646140DH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1072567.60   | 0.06%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOVE FIELD ARPT MODERNIZATION CORP TEX GEN ARPT REV                            | LOVE FIELD TX ARPT MODERNIZATI LOVE FIELD AIRPORT MODERNIZATION CORP              | CUSIP: 54714CBK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1035300.20   | 0.06%             | 2034-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                                            | PUERTO RICO CMWLTH COMMONWEALTH OF PUERTO RICO                                    | CUSIP: 74514L3M7<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   3350031 | PA      | $2791054.54   | 0.16%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VOLUSIA CNTY FLA EDL FAC AUTH REV                                              | VOLUSIA CNTY FL EDUCTNL FAC AU VOLUSIA COUNTY EDUCATIONAL FACILITY AUTHORITY      | CUSIP: 928836MY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    270000 | PA      | $267637.99    | 0.02%             | 2035-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALT VERDE FINL CORP GAS REV  ARIZ                                             | SALT VERDE AZ FINANCIAL CORP S SALT VERDE FINANCIAL CORP                          | CUSIP: 79575EAR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2623391.50   | 0.15%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST                                                                 | CONNECTICUT ST STATE OF CONNECTICUT                                               | CUSIP: 20772KHZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1105000 | PA      | $1135710.82   | 0.06%             | 2036-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH REV                                                          | MICHIGAN ST FIN AUTH REVENUE MICHIGAN FINANCE AUTHORITY                           | CUSIP: 59447PZM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031386.80   | 0.06%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS HEALTHCARE FACS REV                                        | PUBLIC FIN AUTH WI HLTHCARE FA PUBLIC FINANCE AUTHORITY                           | CUSIP: 74444KBW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $768369.60    | 0.04%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL BRD ED DEDICATED CAP IMPT                                          | CHICAGO IL BRD OF EDU DEDICATE CHICAGO BOARD OF EDUCATION                         | CUSIP: 167510AF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $510164.05    | 0.03%             | 2033-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RIVERSIDE CNTY CALIF TRANSN COMMN TOLL REV                                     | RIVERSIDE CNTY CA TRANSPRTN CO RIVERSIDE COUNTY TRANSPORTATION COMMISSION         | CUSIP: 76912DAV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $969584.20    | 0.06%             | 2038-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AUSTIN TEX ELEC UTIL SYS REV                                                   | AUSTIN TX ELEC UTILITY SYS REV CITY OF AUSTIN TX ELECTRIC UTILITY REVENUE         | CUSIP: 052414RC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1535000 | PA      | $1647823.27   | 0.09%             | 2032-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI ST GAMING TAX REV                                                  | MISSISSIPPI ST GAMING TAX REVE STATE OF MISSISSIPPI GAMING TAX REVENUE            | CUSIP: 605638BG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $328677.81    | 0.02%             | 2029-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST ENTERPRISE DEV AUTH STUDENT HSG REV                              | CALIFORNIA ST ENTERPRISE DEV A CALIFORNIA ENTERPRISE DEVELOPMENT AUTHORITY        | CUSIP: 13069BAN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    370000 | PA      | $370441.60    | 0.02%             | 2045-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH N H SR LIVING REV                                            | NATIONAL FIN AUTH NH SENIOR LI NEW HAMPSHIRE BUSINESS FINANCE AUTHORITY           | CUSIP: 63608SAJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    285000 | PA      | $270454.68    | 0.02%             | 2030-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TPK COMMN TPK REV                                              | PENNSYLVANIA ST TURNPIKE COMMI PENNSYLVANIA TURNPIKE COMMISSION                   | CUSIP: 709224DG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4260000 | PA      | $4424694.16   | 0.25%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NEV SCH DIST                                                        | CLARK CNTY NV SCH DIST CLARK COUNTY SCHOOL DISTRICT                               | CUSIP: 1810592Q8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2115000 | PA      | $2324850.30   | 0.13%             | 2039-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST                                                                       | TEXAS ST STATE OF TEXAS                                                           | CUSIP: 882724VW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $641543.88    | 0.04%             | 2030-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HIGHER ED FACS AUTH REV                                           | MINNESOTA ST HGR EDU FACS AUTH MINNESOTA HIGHER EDUCATION FACILITIES AUTHORITY    | CUSIP: 60416JCZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $802041.50    | 0.05%             | 2041-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CITY & CNTY ARPT REV                                               | DENVER CITY & CNTY CO ARPT REV CITY & COUNTY OF DENVER CO AIRPORT SYSTEM REVENUE  | CUSIP: 249182JG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1010000 | PA      | $1030758.63   | 0.06%             | 2032-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TSASC INC N Y                                                                  | TSASC INC NY TSASC INC/NY                                                         | CUSIP: 898526EY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $543353.79    | 0.03%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVS NON ST SUPPORTED DEBT                               | NEW YORK ST DORM AUTH REVENUES NEW YORK STATE DORMITORY AUTHORITY                 | CUSIP: 649907M66<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    910000 | PA      | $947499.19    | 0.05%             | 2034-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL TRAN AUTH SALES TAX RCPTS REV                                      | CHICAGO IL TRANSIT AUTH SALES CHICAGO TRANSIT AUTHORITY SALES TAX RECEIPTS FUND   | CUSIP: 16772PCB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $565034.20    | 0.03%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH STUDENT HSG REV                                        | CALIFORNIA ST MUNI FIN AUTH ST CALIFORNIA MUNICIPAL FINANCE AUTHORITY             | CUSIP: 13049YFF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1170000 | PA      | $1190577.96   | 0.07%             | 2034-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES WTR AUTH MICH WTR SUPPLY SYS REV                                   | GREAT LAKES MI WTR AUTH WTR SPLY SYS REVENUE 5.00% 07/01/2031                     | CUSIP: 39081JAL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3665000 | PA      | $3908493.44   | 0.22%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS TRANSN COMMN CENT TEX TPK SYS REV                                        | TEXAS ST TRANSPRTN COMMISSION CENTRAL TEXAS TURNPIKE SYSTEM                       | CUSIP: 88283KAW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6500000 | PA      | $6639541.35   | 0.38%             | 2033-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST HOSP FAC REV                                                           | OHIO ST HOSP FAC REVENUE STATE OF OHIO                                            | CUSIP: 677561KH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1374071.50   | 0.08%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHERN OHIO PORT AUTH EXEMPT FAC REV                                         | STHRN OH PORT EXEMPT FAC REVEN SOUTHERN OHIO PORT AUTHORITY                       | CUSIP: 84355AAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1054072.14   | 0.06%             | 2025-12-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH ARPT SYS REV                                  | MET WASHINGTON DC ARPTS AUTH A METROPOLITAN WASHINGTON AIRPORTS AUTHORITY AVIATIO | CUSIP: 5926465F6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2705000 | PA      | $2739788.19   | 0.16%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY-HOUSTON SPORTS AUTH TEX REV                                        | HARRIS CNTY-HOUSTON TX SPORTS HARRIS COUNTY-HOUSTON SPORTS AUTHORITY              | CUSIP: 413890DD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2325000 | PA      | $2394623.75   | 0.14%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL PLAINS ENERGY PROJ NEB GAS PROJ REV                                    | CENTRL PLAINS ENERGY PROJ NE G CENTRAL PLAINS ENERGY PROJECT                      | CUSIP: 154871CK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1056668.70   | 0.06%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TPK COMMN TPK REV                                              | PENNSYLVANIA ST TURNPIKE COMMI PENNSYLVANIA TURNPIKE COMMISSION                   | CUSIP: 709224RU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5393332.50   | 0.31%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FOOTHILL / EASTERN TRANSN CORRIDOR AGY CALIF TOLL RD REV                       | FOOTHILL ESTRN TRANSPRTN CORRI FOOTHILL-EASTERN TRANSPORTATION CORRIDOR AGENCY    | CUSIP: 345105JR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    190000 | PA      | $203451.05    | 0.01%             | 2030-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL FLA EXPWY AUTH SR LIENREV                                              | CENTRL FL EXPRESSWAY AUTH SR L CENTRAL FLORIDA EXPRESSWAY AUTHORITY               | CUSIP: 153476GL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2900000 | PA      | $3168696.89   | 0.18%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST HSG FIN AGY HSG REV                                           | MASSACHUSETTS ST HSG FIN AGY H MASSACHUSETTS HOUSING FINANCE AGENCY               | CUSIP: 57587GFS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    355000 | PA      | $343340.24    | 0.02%             | 2050-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL O HARE INTL ARPT SPL FAC REV                                       | CHICAGO IL O'HARE INTERNATIONA CHICAGO O'HARE INTERNATIONAL AIRPORT               | CUSIP: 167590EZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1517378.85   | 0.09%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MOON INDL DEV AUTH PA REV                                                      | MOON INDL DEV AUTH PA REVENUE MOON INDUSTRIAL DEVELOPMENT AUTHORITY               | CUSIP: 61543RAR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1810000 | PA      | $1687547.35   | 0.10%             | 2030-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST PORT AUTH REV                                                 | MASSACHUSETTS ST PORT AUTH MASSACHUSETTS PORT AUTHORITY                           | CUSIP: 575896PR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1318378.63   | 0.08%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHERN TOB SECURITIZATION CORP ALASKA TOB SETTLEMENT REV                     | NTHRN AK TOBACCO SECURITIZATIO NORTHERN TOBACCO SECURITIZATION CORP               | CUSIP: 66585VBS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    615000 | PA      | $587343.76    | 0.03%             | 2036-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV                     | GOLDEN ST TOBACCO SECURITIZATI GOLDEN STATE TOBACCO SECURITIZATION CORP           | CUSIP: 38122NYL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3184896.30   | 0.18%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DULUTH MINN INDPT SCH DIST NO 709 CTFS PARTN                                   | DULUTH MN INDEP SCH DIST #709 DULUTH INDEPENDENT SCHOOL DISTRICT NO 709           | CUSIP: 264474GY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $520965.90    | 0.03%             | 2025-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New York                                                               | NEW YORK NY CITY OF NEW YORK NY                                                   | CUSIP: 64966QVN7<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1695000 | PA      | $1695081.87   | 0.10%             | 2038-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALACHUA CNTY FLA HEALTH FACS AUTH HEALTH FACS REV                              | ALACHUA CNTY FL HLTH FACS AUTH ALACHUA COUNTY HEALTH FACILITIES AUTHORITY         | CUSIP: 010685LD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4235250.80   | 0.24%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP SURFACE TRANSN FAC REV                                    | FLORIDA DEV FIN CORP SURFACE T FLORIDA DEVELOPMENT FINANCE CORP                   | CUSIP: 34061YAH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2465000 | PA      | $2191028.81   | 0.12%             | 2049-01-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| MUNICIPAL ELEC AUTH GA                                                         | MUNI ELEC AUTH OF GEORGIA MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA                 | CUSIP: 6262076J8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    710000 | PA      | $766955.49    | 0.04%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST VA PKWYS AUTH TPK TOLL REV                                                | WEST VIRGINIA ST PARKWAYS AUTH WEST VIRGINIA PARKWAYS AUTHORITY                   | CUSIP: 956510AS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1005000 | PA      | $1093909.03   | 0.06%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TSASC INC N Y                                                                  | TSASC INC NY TSASC INC/NY                                                         | CUSIP: 898526EZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $543136.02    | 0.03%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN MUN PWR OHIO INC REV                                                  | AMERICAN MUNI PWR-OHIO INC OH AMERICAN MUNICIPAL POWER INC                        | CUSIP: 02765UGA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5126261.50   | 0.29%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY CONN                                                                | UNIV OF CONNECTICUT CT UNIVERSITY OF CONNECTICUT                                  | CUSIP: 9142333F6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4740000 | PA      | $5269615.84   | 0.30%             | 2038-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA ARPT REV                                                       | PHILADELPHIA PA ARPT REVENUE CITY OF PHILADELPHIA PA AIRPORT REVENUE              | CUSIP: 717817XW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $472732.75    | 0.03%             | 2040-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH CHARTER SCH REV                                              | ILLINOIS ST FIN AUTH CHRT SCHR ILLINOIS FINANCE AUTHORITY                         | CUSIP: 452022BF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1533723.30   | 0.09%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSN DEV CORP SPL FAC REV                                           | NEW YORK ST TRANSPRTN DEV CORP NEW YORK TRANSPORTATION DEVELOPMENT CORP           | CUSIP: 650116EJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $582879.99    | 0.03%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREATER ORLANDO AVIATION AUTH ORLANDO FLA ARPT FACS REV                        | GTR ORLANDO FL AVIATION AUTH A GREATER ORLANDO AVIATION AUTHORITY                 | CUSIP: 392274Z41<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1627068.30   | 0.09%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                                    | ILLINOIS ST STATE OF ILLINOIS                                                     | CUSIP: 4521526K2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3750000 | PA      | $4092190.50   | 0.23%             | 2030-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ARLINGTON CNTY VA INDL DEV AUTH HOSP FAC REV                                   | ARLINGTON CNTY VA INDL DEV AUT ARLINGTON COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY  | CUSIP: 041438GN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $295931.41    | 0.02%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VERMONT HSG FIN AGY                                                            | VERMONT ST HSG FIN AGY VERMONT HOUSING FINANCE AGENCY                             | CUSIP: 924190HZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    170000 | PA      | $169875.34    | 0.01%             | 2045-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RENO NEV SALES TAX REV                                                         | RENO NV SALES TAX REVENUE CITY OF RENO NV                                         | CUSIP: 759861EE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $431534.56    | 0.02%             | 2033-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS STUDENT HSG REV                                            | PUBLIC FIN AUTH WI STUDENT HSG PUBLIC FINANCE AUTHORITY                           | CUSIP: 74439YDB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $232134.48    | 0.01%             | 2028-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEBRASKA INVT FIN AUTH SINGLE FAMILY HSG REV                                   | NEBRASKA ST INVESTMENT FIN AUT NEBRASKA INVESTMENT FINANCE AUTHORITY              | CUSIP: 63968MZY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1110000 | PA      | $1057703.24   | 0.06%             | 2052-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NORTH TEX TWY AUTH REV                                                         | N TX TOLLWAY AUTH REVENUE NORTH TEXAS TOLLWAY AUTHORITY                           | CUSIP: 66285WXV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1903114.26   | 0.11%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSN DEV CORP SPL FAC REV                                           | NEW YORK ST TRANSPRTN DEV CORP NEW YORK TRANSPORTATION DEVELOPMENT CORP           | CUSIP: 650116CZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2625000 | PA      | $2615617.99   | 0.15%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DALLAS CNTY TEX UTIL & RECLAMATION DIST                                        | DALLAS CNTY TX UTILITY & RECLA DALLAS COUNTY UTILITY & RECLAMATION DISTRICT       | CUSIP: 234839PL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1090835.90   | 0.06%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OSCEOLA CNTY FLA TRANSN REV                                                    | OSCEOLA CNTY FL TRANSPRTN REVE COUNTY OF OSCEOLA FL TRANSPORTATION REVENUE        | CUSIP: 688031EF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $229461.51    | 0.01%             | 2026-10-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UTAH ARPT REV                                                   | SALT LAKE CITY UT ARPT REVENUE CITY OF SALT LAKE CITY UT AIRPORT REVENUE          | CUSIP: 795576GN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1590076.05   | 0.09%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                            | CALIFORNIA ST STATE OF CALIFORNIA                                                 | CUSIP: 13063CX47<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3395000 | PA      | $3684141.29   | 0.21%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST VA PKWYS AUTH TPK TOLL REV                                                | WEST VIRGINIA ST PARKWAYS AUTH WEST VIRGINIA PARKWAYS AUTHORITY                   | CUSIP: 956510AN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1372928.25   | 0.08%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES WTR AUTH MICH WTR SUPPLY SYS REV                                   | GREAT LAKES MI WTR AUTH WTR SP GREAT LAKES WATER AUTHORITY WATER SUPPLY SYSTEM RE | CUSIP: 39081JEL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1118873.00   | 0.06%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH BRDG & TUNL AUTH N Y PAYROLL MOBILITY TAX                           | TRIBOROUGH NY BRIDGE & TUNNEL TRIBOROUGH BRIDGE & TUNNEL AUTHORITY                | CUSIP: 89602HET0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    905000 | PA      | $487201.41    | 0.03%             | 2036-11-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TWY AUTH GEN REV                                                   | NEW YORK ST THRUWAY AUTH NEW YORK STATE THRUWAY AUTHORITY                         | CUSIP: 650009N90<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3330035.80   | 0.19%             | 2024-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST MTG AGY HOMEOWNER MTG REV                                          | NEW YORK ST MTGE AGY HOMEOWNER STATE OF NEW YORK MORTGAGE AGENCY                  | CUSIP: 649883C60<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $998484.20    | 0.06%             | 2025-04-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| PHOENIX ARIZ INDL DEV AUTH STUDENT HSG REV                                     | PHOENIX AZ INDL DEV AUTH STUDE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF PH | CUSIP: 71885DCY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    355000 | PA      | $362255.99    | 0.02%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CATHEDRAL CITY CALIF REDEV AGY SUCCESSOR AGY TAX ALLOCATION                    | CATHEDRAL CITY CA REDEV AGY SU CATHEDRAL CITY REDEVELOPMENT AGENCY SUCCESSOR AGEN | CUSIP: 14916YDL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $216445.68    | 0.01%             | 2023-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL MET WTR RECLAMATION DIST GTR CHICAGO                               | CHICAGO IL MET WTR RECLAMATION METROPOLITAN WATER RECLAMATION DISTRICT OF GREATER | CUSIP: 167560VM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    640000 | PA      | $667563.84    | 0.04%             | 2024-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                                    | ILLINOIS ST STATE OF ILLINOIS                                                     | CUSIP: 4521526Z9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4020000 | PA      | $3784272.83   | 0.22%             | 2035-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH ST PERS INCOME TAX REV                                   | NEW YORK ST DORM AUTH ST PERSO NEW YORK STATE DORMITORY AUTHORITY                 | CUSIP: 64990FPD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1900000 | PA      | $2115076.39   | 0.12%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA GAS SUPPLY REV                                         | MAIN STREET NATURAL GAS INC GA MAIN STREET NATURAL GAS INC                        | CUSIP: 56035DCZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1954571.00   | 0.11%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY TEX PERM UNIV FD                                                    | UNIV OF TEXAS TX PERMANENT UNI PERMANENT UNIVERSITY FUND - UNIVERSITY OF TEXAS SY | CUSIP: 9151154F3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2285000 | PA      | $2370369.89   | 0.14%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZATION CORP ILL                                              | SALES TAX SECURITIZATION CORP SALES TAX SECURITIZATION CORP                       | CUSIP: 79467BCW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3931683.75   | 0.22%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH NATL CHARTER SCH REVOLVING LN FD REV                     | ARIZONA ST INDL DEV AUTH NATIO ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY           | CUSIP: 04052FCL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4570000 | PA      | $4443456.24   | 0.25%             | 2036-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TEX ARPT SYS REV                                                       | HOUSTON TX ARPT SYS REVENUE CITY OF HOUSTON TX AIRPORT SYSTEM REVENUE             | CUSIP: 4423487H5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1980000 | PA      | $1983193.34   | 0.11%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF DEPT ARPTS REV                                               | LOS ANGELES CA DEPT OF ARPTS A CITY OF LOS ANGELES DEPARTMENT OF AIRPORTS         | CUSIP: 544445YA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $483829.40    | 0.03%             | 2037-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VILLAGE CMNTY DEV DIST NO 14 FLA SPL ASSMT REV                                 | VLG FL CDD #14 SPL ASSMNT REVE VILLAGE COMMUNITY DEVELOPMENT DISTRICT NO 14       | CUSIP: 92708JAC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1225000 | PA      | $1235089.22   | 0.07%             | 2037-05-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| BROWARD CNTY FLA PORT FACS REV                                                 | BROWARD CNTY FL PORT FACS REVE COUNTY OF BROWARD FL PORT FACILITIES REVENUE       | CUSIP: 11506KFU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1115763.10   | 0.06%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WILDWOOD UTIL DEPENDENT DIST FLA UTIL REV                                      | WILDWOOD UTILITY DEPENDENT DIS WILDWOOD UTILITY DEPENDENT DISTRICT                | CUSIP: 968214AK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $619533.20    | 0.04%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HEALTH & EDL FACS AUTH REV                                      | CONNECTICUT ST HLTH & EDUCTNL CONNECTICUT STATE HEALTH & EDUCATIONAL FACILITIES   | CUSIP: 20775DTB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $254285.88    | 0.01%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                                            | PUERTO RICO CMWLTH COMMONWEALTH OF PUERTO RICO                                    | CUSIP: 74514L3T2<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |  11894077 | PA      | $5411805.23   | 0.31%             | 2043-11-01      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| ANCHORAGE ALASKA WTR REV                                                       | ANCHORAGE AK WTR REVENUE CITY OF ANCHORAGE AK WATER REVENUE                       | CUSIP: 033285UR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1624591.65   | 0.09%             | 2031-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CITY & CNTY ARPT REV                                               | DENVER CITY & CNTY CO ARPT REV CITY & COUNTY OF DENVER CO AIRPORT SYSTEM REVENUE  | CUSIP: 249182TA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $320554.08    | 0.02%             | 2032-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS & ST PAUL MINN MET ARPTS COMMN ARPT REV                            | MINNEAPOLIS-SAINT PAUL MN MET MINNEAPOLIS-ST PAUL METROPOLITAN AIRPORTS COMMISSI  | CUSIP: 603827YQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $322404.90    | 0.02%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TPK AUTH TPK REV                                                 | NEW JERSEY ST TURNPIKE AUTH TU NEW JERSEY TURNPIKE AUTHORITY                      | CUSIP: 646140CA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1373451.38   | 0.08%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE N C ARPT REV                                                         | CHARLOTTE NC ARPT REVENUE CITY OF CHARLOTTE NC AIRPORT REVENUE                    | CUSIP: 161036UH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2392038.23   | 0.14%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CONVENTION CTR HOTEL AUTH REV                                      | DENVER CO CONVENTION CENTER HO DENVER CONVENTION CENTER HOTEL AUTHORITY           | CUSIP: 249189DN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1008482.50   | 0.06%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER CNTY PA HOSP AUTH REV                                                | LANCASTER CNTY PA HOSP AUTH LANCASTER COUNTY HOSPITAL AUTHORITY/PA                | CUSIP: 514045M67<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1940000 | PA      | $2092946.69   | 0.12%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NEV SCH DIST                                                        | CLARK CNTY NV SCH DIST CLARK COUNTY SCHOOL DISTRICT                               | CUSIP: 181059M86<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1075313.60   | 0.06%             | 2026-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JEA FLA ELEC SYS REV                                                           | JEA FL ELEC SYS REVENUE JEA ELECTRIC SYSTEM REVENUE                               | CUSIP: 46613SQJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3277490.40   | 0.19%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST VA PKWYS AUTH TPK TOLL REV                                                | WEST VIRGINIA ST PARKWAYS AUTH WEST VIRGINIA PARKWAYS AUTHORITY                   | CUSIP: 956510AR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1090618.20   | 0.06%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TEX ELEC & GAS REV                                                 | SAN ANTONIO TX ELEC & GAS REVE CITY OF SAN ANTONIO TX ELECTRIC & GAS SYSTEMS REVE | CUSIP: 79625GBX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    735000 | PA      | $697025.27    | 0.04%             | 2049-02-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| GLENDALE ARIZ INDL DEV AUTH SR LIVING FACS REV                                 | GLENDALE AZ INDL DEV AUTH SENI GLENDALE INDUSTRIAL DEVELOPMENT AUTHORITY          | CUSIP: 378287AT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    380000 | PA      | $359444.70    | 0.02%             | 2028-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST                                                                  | NEW JERSEY ST STATE OF NEW JERSEY                                                 | CUSIP: 646039VF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1053500.10   | 0.06%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                                    | ILLINOIS ST STATE OF ILLINOIS                                                     | CUSIP: 452152N31<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2970000 | PA      | $3020987.48   | 0.17%             | 2036-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HIDALGO CNTY TEX REGL MOBILITY AUTH TOLL & VEH REGISTRATION FEE REV            | HIDALGO CNTY TX REGL MOBILITY HIDALGO COUNTY REGIONAL MOBILITY AUTHORITY          | CUSIP: 42934AAD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $273591.37    | 0.02%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WTR DIST SOUTHN CALIF WTRWRKS REV                                 | MET WTR DIST OF STHRN CA WTRWK METROPOLITAN WATER DISTRICT OF SOUTHERN CALIFORNIA | CUSIP: 59266TLY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4244920.40   | 0.24%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN PIER & EXPOSITION AUTH ILL REV                                    | MET PIER & EXPOSITION AUTH IL METROPOLITAN PIER & EXPOSITION AUTHORITY            | CUSIP: 592250CS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $257298.95    | 0.01%             | 2031-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH SPL FAC REV                                       | NEW JERSEY ST ECON DEV AUTH SP NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY          | CUSIP: 64578CBW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1160000 | PA      | $1166594.37   | 0.07%             | 2030-11-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL                                                                    | CHICAGO IL CITY OF CHICAGO IL                                                     | CUSIP: 167486D71<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3020000 | PA      | $3120568.42   | 0.18%             | 2035-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| COLORADO HSG & FIN AUTH                                                        | COLORADO ST HSG & FIN AUTH COLORADO HOUSING AND FINANCE AUTHORITY                 | CUSIP: 196480DQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    920000 | PA      | $917130.52    | 0.05%             | 2050-05-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA                                                                | PHILADELPHIA PA CITY OF PHILADELPHIA PA                                           | CUSIP: 717813YT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5905000 | PA      | $6599345.33   | 0.38%             | 2032-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA HOSP DEV AUTH REV                                            | ALLEGHENY CNTY PA HOSP DEV AUT ALLEGHENY COUNTY HOSPITAL DEVELOPMENT AUTHORITY    | CUSIP: 01728A3Q7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5352848.00   | 0.31%             | 2030-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH REV                                          | VIRGINIA ST SMALL BUSINESS FIN VIRGINIA SMALL BUSINESS FINANCING AUTHORITY        | CUSIP: 928104NH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1140000 | PA      | $1135009.76   | 0.06%             | 2030-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CITY & CNTY CTFS PARTN                                             | DENVER CO CITY & CNTY COPS CITY & COUNTY OF DENVER CO                             | CUSIP: 249183XZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1360000 | PA      | $1447865.25   | 0.08%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVS NON ST SUPPORTED DEBT                               | NEW YORK ST DORM AUTH REVENUES NEW YORK STATE DORMITORY AUTHORITY                 | CUSIP: 65000BQF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5594.74      | 0.00%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CNTY CALIF REGL ARPT AUTH ARPT REV                                   | SAN DIEGO CNTY CA REGL ARPT AU SAN DIEGO COUNTY REGIONAL AIRPORT AUTHORITY        | CUSIP: 79739GLL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $359128.14    | 0.02%             | 2024-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BI-STATE DEV AGY MO ILL MET DIST MASS TRAN SALES TAX                           | BI-ST DEV AGY OF THE MO-IL MET BI-STATE DEVELOPMENT AGENCY OF THE MISSOURI-ILLINO | CUSIP: 088632CF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    995000 | PA      | $1012012.61   | 0.06%             | 2036-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSN DEV CORP SPL FAC REV                                           | NEW YORK ST TRANSPRTN DEV CORP NEW YORK TRANSPORTATION DEVELOPMENT CORP           | CUSIP: 650116FE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $678664.22    | 0.04%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FLA AVIATION REV                                               | MIAMI-DADE CNTY FL AVIATION RE COUNTY OF MIAMI-DADE FL AVIATION REVENUE           | CUSIP: 59333PL30<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2029444.40   | 0.12%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEPT TRANSN SUNSHINE SKYWAY REV                                     | FLORIDA ST DEPT TRANSPRTN SUNS SUNSHINE SKYWAY BRIDGE                             | CUSIP: 34161HAP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2930000 | PA      | $3031065.37   | 0.17%             | 2033-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP N J                                               | TOBACCO SETTLEMENT FING CORP N TOBACCO SETTLEMENT FINANCING CORP                  | CUSIP: 888808HL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10272284.00  | 0.59%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH REV                                        | WISCONSIN ST HLTH & EDUCTNL FA WISCONSIN HEALTH & EDUCATIONAL FACILITIES AUTHORIT | CUSIP: 97712DM45<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4155000 | PA      | $4547996.52   | 0.26%             | 2031-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RICHMOND IND HOSP AUTH REV                                                     | RICHMOND IN HOSP AUTH REVENUE RICHMOND HOSPITAL AUTHORITY                         | CUSIP: 764791BA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3400000 | PA      | $3459608.80   | 0.20%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL PLAINS ENERGY PROJ NEB GAS PROJ REV                                    | CENTRL PLAINS ENERGY PROJ NE G CENTRAL PLAINS ENERGY PROJECT                      | CUSIP: 154871CN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2860000 | PA      | $2974260.15   | 0.17%             | 2037-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH REV                                                          | ILLINOIS ST FIN AUTH REVENUE ILLINOIS FINANCE AUTHORITY                           | CUSIP: 45203H4X7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1885000 | PA      | $1959280.88   | 0.11%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HIGHER ED FACS AUTH REV                                           | MINNESOTA ST HGR EDU FACS AUTH MINNESOTA HIGHER EDUCATION FACILITIES AUTHORITY    | CUSIP: 60416JCY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $210926.43    | 0.01%             | 2038-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TPK COMMN TPK REV                                              | PENNSYLVANIA ST TURNPIKE COMMI PENNSYLVANIA TURNPIKE COMMISSION                   | CUSIP: 709224KU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3178281.00   | 0.18%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUB SVCS AUTH REV                                            | SOUTH CAROLINA ST PUBLIC SVC A SOUTH CAROLINA PUBLIC SERVICE AUTHORITY            | CUSIP: 837151ZR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $169556.91    | 0.01%             | 2038-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HEALTH & EDL FACS AUTH HEALTH FACS REV                             | MISSOURI ST HLTH & EDUCTNL FAC HEALTH & EDUCATIONAL FACILITIES AUTHORITY OF THE S | CUSIP: 60637AKS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1058797.40   | 0.06%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARION & POLK CNTYS ORE SCH DIST NO 24J SALEM                                  | MARION & POLK CNTYS OR SCH DIS SALEM-KEIZER SCHOOL DISTRICT NO 24J                | CUSIP: 569203NW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $259206.98    | 0.01%             | 2024-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL PLAINS ENERGY PROJ NEB GAS PROJ REV                                    | CENTRL PLAINS ENERGY PROJ NE G CENTRAL PLAINS ENERGY PROJECT                      | CUSIP: 154871CM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2091769.20   | 0.12%             | 2036-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DALLAS FORT WORTH TEX INTL ARPT REV                                            | DALLAS-FORT WORTH TX INTERNATI DALLAS FORT WORTH INTERNATIONAL AIRPORT            | CUSIP: 235036S68<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2298078.90   | 0.13%             | 2026-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA SCH DIST                                                       | PHILADELPHIA PA SCH DIST SCHOOL DISTRICT OF PHILADELPHIA/THE                      | CUSIP: 717883UD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $27038.54     | 0.00%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUB FACS AUTH REV                                                    | LOUISIANA ST PUBLIC FACS AUTHR LOUISIANA PUBLIC FACILITIES AUTHORITY              | CUSIP: 5463986F0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3192005.10   | 0.18%             | 2030-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH REV                                                          | MICHIGAN ST FIN AUTH REVENUE MICHIGAN FINANCE AUTHORITY                           | CUSIP: 59447T3N1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3610000 | PA      | $4138265.02   | 0.24%             | 2033-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TR AGY FLA STUDENT HSG REV                                             | CAPITAL TRUST AGY FL STUDENT H CAPITAL TRUST AGENCY INC                           | CUSIP: 140536AC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2790836.40   | 0.16%             | 2043-12-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| METROPOLITAN PIER & EXPOSITION AUTH ILL REV                                    | MET PIER & EXPOSITION AUTH IL METROPOLITAN PIER & EXPOSITION AUTHORITY            | CUSIP: 592250CU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $307229.91    | 0.02%             | 2033-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST HSG FIN & DEV AUTH MTG REV                                   | SOUTH CAROLINA ST HSG FIN & DE SOUTH CAROLINA STATE HOUSING FINANCE & DEVELOPMENT | CUSIP: 83712DG42<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    605000 | PA      | $600132.78    | 0.03%             | 2050-01-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CLACKAMAS CNTY ORE HOSP FAC AUTH REV                                           | CLACKAMAS CNTY OR HOSP FAC AUT CLACKAMAS COUNTY HOSPITAL FACILITY AUTHORITY       | CUSIP: 179027YL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $457947.90    | 0.03%             | 2040-11-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| AUSTIN TEX ARPT SYS REV                                                        | AUSTIN TX ARPT SYS REVENUE CITY OF AUSTIN TX AIRPORT SYSTEM REVENUE               | CUSIP: 052398FV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $926195.49    | 0.05%             | 2037-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEBRASKA INVT FIN AUTH SINGLE FAMILY HSG REV                                   | NEBRASKA ST INVESTMENT FIN AUT NEBRASKA INVESTMENT FINANCE AUTHORITY              | CUSIP: 63968MZD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2360000 | PA      | $2275331.22   | 0.13%             | 2050-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SEI Daily Income Trust: Government Fund; Class F Shares                        | SEI DAILY INCOME TRUST GOVERNMENT FUND (#36)                                      | CUSIP: 783965593<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    944011 | NS      | $944011.27    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| PHOENIX ARIZ INDL DEV AUTH STUDENT HSG REV                                     | PHOENIX AZ INDL DEV AUTH STUDE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF PH | CUSIP: 71885DCU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $362380.10    | 0.02%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST URBAN DEV CORP REV                                                 | NEW YORK ST URBAN DEV CORP REV NEW YORK STATE URBAN DEVELOPMENT CORP              | CUSIP: 650035N61<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3335000 | PA      | $3419271.45   | 0.20%             | 2032-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV                     | GOLDEN ST TOBACCO SECURITIZATI GOLDEN STATE TOBACCO SECURITIZATION CORP           | CUSIP: 38122NB84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6375000 | PA      | $683444.63    | 0.04%             | 2066-06-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| JEA FLA ELEC SYS REV                                                           | JEA FL ELEC SYS REVENUE JEA Electric System Revenue                               | CUSIP: 46613SNX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    970000 | PA      | $988318.94    | 0.06%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUB SVCS AUTH REV                                            | SOUTH CAROLINA ST PUBLIC SVC A SOUTH CAROLINA PUBLIC SERVICE AUTHORITY            | CUSIP: 837151ZP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2905378.03   | 0.17%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PARK CREEK MET DIST COLO REV                                                   | PARK CREEK CO MET DIST REVENUE PARK CREEK METROPOLITAN DISTRICT                   | CUSIP: 700387GU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1050065.50   | 0.06%             | 2032-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX ARIZ CIVIC IMPT CORP ARPT REV                                          | PHOENIX AZ CIVIC IMPT CORP ARP CITY OF PHOENIX CIVIC IMPROVEMENT CORP             | CUSIP: 71883MJV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $262028.55    | 0.01%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TPK AUTH TPK REV                                                 | NEW JERSEY ST TURNPIKE AUTH TU NEW JERSEY TURNPIKE AUTHORITY                      | CUSIP: 646140CB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6579479.40   | 0.38%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH REV                                                          | MICHIGAN ST FIN AUTH REVENUE MICHIGAN FINANCE AUTHORITY                           | CUSIP: 59447TCN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2755000 | PA      | $2834150.60   | 0.16%             | 2033-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MICH ARPT AUTH REV                                                  | WAYNE CNTY MI ARPT AUTH REVENU WAYNE COUNTY AIRPORT AUTHORITY                     | CUSIP: 944514SR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1891587.78   | 0.11%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSN AUTH N Y REV                                               | MET TRANSPRTN AUTH NY REVENUE METROPOLITAN TRANSPORTATION AUTHORITY               | CUSIP: 59261AQB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4126113.20   | 0.24%             | 2031-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HENRICO CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FAC REV                     | HENRICO CNTY VA ECON DEV AUTH HENRICO COUNTY ECONOMIC DEVELOPMENT AUTHORITY       | CUSIP: 42605QHK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    430000 | PA      | $453927.09    | 0.03%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO HEALTH FACS AUTH REV                                                     | IDAHO ST HLTH FACS AUTH REVENU IDAHO HEALTH FACILITIES AUTHORITY                  | CUSIP: 451295C23<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $580631.21    | 0.03%             | 2033-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEBRASKA PUB PWR DIST REV                                                      | NEBRASKA ST PUBLIC PWR DIST RE NEBRASKA PUBLIC POWER DISTRICT                     | CUSIP: 63968A6M2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    775000 | PA      | $795340.34    | 0.05%             | 2024-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BIRMINGHAM ALA ARPT AUTH ARPT REV                                              | BIRMINGHAM AL ARPT AUTH ARPT R BIRMINGHAM AIRPORT AUTHORITY                       | CUSIP: 090888GG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $227965.10    | 0.01%             | 2023-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ESCAMBIA CNTY FLA HEALTH FACS AUTH HEALTH FAC REV                              | ESCAMBIA CNTY FL HLTH FACS AUT ESCAMBIA COUNTY HEALTH FACILITIES AUTHORITY        | CUSIP: 296110GF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1900000 | PA      | $1612377.62   | 0.09%             | 2050-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HSG FIN AGY MUN CTFS                                                | CALIFORNIA HSG FIN AGY MUNI CT CALIFORNIA HOUSING FINANCE AGENCY                  | CUSIP: 13033DAE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2926999 | PA      | $2639532.37   | 0.15%             | 2035-11-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH REV                                                          | ILLINOIS ST FIN AUTH REVENUE ILLINOIS FINANCE AUTHORITY                           | CUSIP: 45204FQB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3265000 | PA      | $3447661.73   | 0.20%             | 2047-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MUNICIPAL ELEC AUTH GA                                                         | MUNI ELEC AUTH OF GA MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA                      | CUSIP: 62620HAR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $583649.47    | 0.03%             | 2038-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP REV                                                       | FLORIDA ST DEV FIN CORP FLORIDA DEVELOPMENT FINANCE CORP                          | CUSIP: 340618DF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3100000 | PA      | $3080099.55   | 0.18%             | 2057-07-01      | Floating      | 7.25%                 | Yes           |                  2 | On Loan: No      |
| City of New York                                                               | NEW YORK NY CITY OF NEW YORK NY                                                   | CUSIP: 64966QMA5<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    465000 | PA      | $502496.90    | 0.03%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH REV                                        | WISCONSIN ST HLTH & EDUCTNL FA WISCONSIN HEALTH & EDUCATIONAL FACILITIES AUTHORIT | CUSIP: 97712D7Z3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2118754.00   | 0.12%             | 2054-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CITY & CNTY ARPT REV                                               | DENVER CITY & CNTY CO ARPT REV CITY & COUNTY OF DENVER CO AIRPORT SYSTEM REVENUE  | CUSIP: 249182TB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1030000 | PA      | $1172865.22   | 0.07%             | 2033-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HEALTH & EDL FACS AUTH REV                                      | CONNECTICUT ST HLTH & EDUCTNL CONNECTICUT STATE HEALTH & EDUCATIONAL FACILITIES   | CUSIP: 20775DTA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    840000 | PA      | $927167.30    | 0.05%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH JERSEY PORT CORP N J REV                                                 | SOUTH JERSEY NJ PORT CORP SOUTH JERSEY PORT CORP                                  | CUSIP: 838530RE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    570000 | PA      | $584062.30    | 0.03%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH REV                                                          | ILLINOIS ST FIN AUTH REVENUE ILLINOIS FINANCE AUTHORITY                           | CUSIP: 45203HP55<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1077687.77   | 0.06%             | 2033-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TPK AUTH TPK REV                                                 | NEW JERSEY ST TURNPIKE AUTH TU NEW JERSEY TURNPIKE AUTHORITY                      | CUSIP: 646140CC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $382910.96    | 0.02%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MICH ARPT AUTH REV                                                  | WAYNE CNTY MI ARPT AUTH REVENU WAYNE COUNTY AIRPORT AUTHORITY                     | CUSIP: 944514SQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1367838.68   | 0.08%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HEALTH CARE FACS AUTH REV                                        | WASHINGTON ST HLTH CARE FACS A WASHINGTON HEALTH CARE FACILITIES AUTHORITY        | CUSIP: 93978HPU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1297456.13   | 0.07%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST                                                                 | CONNECTICUT ST STATE OF CONNECTICUT                                               | CUSIP: 20772KDV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5572634.50   | 0.32%             | 2029-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REGIONAL TRANSN DIST COLO PRIVATE ACTIVITY REV                                 | REGL CO TRANSPRTN DIST PRIV AC REGIONAL TRANSPORTATION DISTRICT                   | CUSIP: 759151BK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2060000 | PA      | $2209034.00   | 0.13%             | 2031-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL DEV MULTIFAMILY REV                              | PHILADELPHIA PA AUTH FOR INDL PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT   | CUSIP: 717908AF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4725000 | PA      | $4899242.88   | 0.28%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN JOAQUIN HILLS CALIF TRANSN CORRIDOR AGY TOLL RD REV                        | SAN JOAQUIN HILLS CA TRANSPRTN SAN JOAQUIN HILLS TRANSPORTATION CORRIDOR AGENCY   | CUSIP: 798111GG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1165000 | PA      | $1226441.98   | 0.07%             | 2029-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP SALES TAX REV                                  | PUERTO RICO SALES TAX FING COR PUERTO RICO SALES TAX FINANCING CORP SALES TAX REV | CUSIP: 74529JRJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |  11790000 | PA      | $10651327.70  | 0.61%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| PHOENIX ARIZ CIVIC IMPT CORP ARPT REV                                          | PHOENIX AZ CIVIC IMPT CORP ARP CITY OF PHOENIX CIVIC IMPROVEMENT CORP             | CUSIP: 71883MJY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1095000 | PA      | $1145395.95   | 0.07%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALA GAS PREPAY REV                                  | BLACK BELT ENERGY GAS DIST ALG BLACK BELT ENERGY GAS DISTRICT                     | CUSIP: 09182RAR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4980400.00   | 0.28%             | 2049-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HIGHER ED ASSISTANCE AUTH STUD LN                                | NEW JERSEY ST HGR EDU ASSISTAN NEW JERSEY HIGHER EDUCATION STUDENT ASSISTANCE AUT | CUSIP: 646080VV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1555526.07   | 0.09%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTCHESTER CNTY N Y LOC DEV CORP REV                                          | WESTCHESTER CNTY NY LOCAL DEV WESTCHESTER COUNTY LOCAL DEVELOPMENT CORP           | CUSIP: 95737TBB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2350000 | PA      | $2359739.11   | 0.13%             | 2034-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TROY UNIV ALA FACS REV                                                         | TROY UNIV AL FACS REVENUE TROY UNIVERSITY                                         | CUSIP: 897745CN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    645000 | PA      | $706565.83    | 0.04%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO ST SEVERANCE TAX                                                    | NEW MEXICO ST SEVERANCE TAX STATE OF NEW MEXICO SEVERANCE TAX PERMANENT FUND      | CUSIP: 6473103H2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10940000 | PA      | $12216279.00  | 0.70%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARION & POLK CNTYS ORE SCH DIST NO 24J SALEM                                  | MARION & POLK CNTYS OR SCH DIS SALEM-KEIZER SCHOOL DISTRICT NO 24J                | CUSIP: 569203NX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $290594.98    | 0.02%             | 2025-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY HEALTH CARE FACS FING AUTH REV                                      | NEW JERSEY ST HLTH CARE FACS F NEW JERSEY HEALTH CARE FACILITIES FINANCING AUTHOR | CUSIP: 645790MT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2590000 | PA      | $2766938.70   | 0.16%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TEX ELEC & GAS REV                                                 | SAN ANTONIO TX ELEC & GAS REVE CITY OF SAN ANTONIO TX ELECTRIC & GAS SYSTEMS REVE | CUSIP: 79625GDL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1410000 | PA      | $1587077.81   | 0.09%             | 2033-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KANSAS ST DEPT TRANSN HWY REV                                                  | KANSAS ST DEPT OF TRANSPRTN HI STATE OF KANSAS DEPARTMENT OF TRANSPORTATION       | CUSIP: 485424QP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2105332.00   | 0.12%             | 2033-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO HEALTH FACS AUTH REV                                                     | IDAHO ST HLTH FACS AUTH REVENU IDAHO HEALTH FACILITIES AUTHORITY                  | CUSIP: 451295B81<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $359657.73    | 0.02%             | 2031-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH ST PERS INCOME TAX REV                                   | NEW YORK ST DORM AUTH ST PERSO NEW YORK STATE DORMITORY AUTHORITY                 | CUSIP: 64990FK86<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4845000 | PA      | $4885855.46   | 0.28%             | 2038-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH WASTEWATER UTIL REV                                        | INDIANA FIN AUTH IN WSTWTR UTI INDIANA FINANCE AUTHORITY                          | CUSIP: 45505MJR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2725000 | PA      | $2804686.90   | 0.16%             | 2035-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS EXEMPT FACS REV                                            | PUBLIC FIN AUTH WI EXEMPT FACS PUBLIC FINANCE AUTHORITY                           | CUSIP: 74443QAB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1395000 | PA      | $1405886.86   | 0.08%             | 2024-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| E 470 PUB HWY AUTH COLO REV                                                    | E-470 CO PUBLIC HIGHWAY AUTH E-470 PUBLIC HIGHWAY AUTHORITY                       | CUSIP: 26822LMV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    610000 | PA      | $603992.72    | 0.03%             | 2039-09-01      | Floating      | 2.39%                 | No            |                  2 | On Loan: No      |
| HILLSBOROUGH CNTY FLA SOLID WASTE & RES RECOVERY REV                           | HILLSBOROUGH CNTY FL SOL WST & COUNTY OF HILLSBOROUGH FL SOLID WASTE & RESOURCE R | CUSIP: 432342DP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3695000 | PA      | $3885908.83   | 0.22%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                                            | PUERTO RICO CMWLTH COMMONWEALTH OF PUERTO RICO                                    | CUSIP: 74514L3L9<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   1284490 | PA      | $1092315.14   | 0.06%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST                                                                       | TEXAS ST STATE OF TEXAS                                                           | CUSIP: 882723N70<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2630000 | PA      | $2822765.59   | 0.16%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PALM BEACH CNTY FLA HEALTH FACS AUTH RETIREMENT CMNTY REV                      | PALM BEACH CNTY FL HLTH FACS A PALM BEACH COUNTY HEALTH FACILITIES AUTHORITY      | CUSIP: 69650MAV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5850000 | PA      | $5889432.51   | 0.34%             | 2032-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA ARPT REV                                                       | PHILADELPHIA PA ARPT REVENUE CITY OF PHILADELPHIA PA AIRPORT REVENUE              | CUSIP: 717817UD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1050525.70   | 0.06%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV                        | CALIFORNIA CMNTY CHOICE FING A CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY    | CUSIP: 13013JAP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6520000 | PA      | $6432569.41   | 0.37%             | 2052-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH DULLES TOLL RD REV                            | MET WASHINGTON DC ARPTS AUTH D METROPOLITAN WASHINGTON AIRPORTS AUTHORITY DULLES  | CUSIP: 592643CY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $967269.00    | 0.06%             | 2035-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA EDL ENHANCEMENT FDG CORP TOB SETTLEMENT REV                       | SOUTH DAKOTA ST EDUCTNL ENHANC EDUCATIONAL ENHANCEMENT FUNDING CORP               | CUSIP: 83754LAJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1012008.00   | 0.06%             | 2023-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                            | CALIFORNIA ST STATE OF CALIFORNIA                                                 | CUSIP: 13063CX21<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3260499.00   | 0.19%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BROWARD CNTY FLA SCH BRD CTFS PARTN                                            | BROWARD CNTY FL SCH BRD COPS SCHOOL DISTRICT OF BROWARD COUNTY/FL                 | CUSIP: 115065B60<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5542337.50   | 0.32%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH REV                                                          | ILLINOIS ST FIN AUTH REVENUE ILLINOIS FINANCE AUTHORITY                           | CUSIP: 45204EFB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2105170.40   | 0.12%             | 2036-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEE CNTY FLA SOLID WASTE SYS REV                                               | LEE CNTY FL SOL WST SYS REVENU COUNTY OF LEE FL SOLID WASTE SYSTEM REVENUE        | CUSIP: 523510EU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2425000 | PA      | $2530436.58   | 0.14%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL BRD ED                                                             | CHICAGO IL BRD OF EDU CHICAGO BOARD OF EDUCATION                                  | CUSIP: 167505SX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2840000 | PA      | $2859092.47   | 0.16%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA ARPT REV                                                            | ATLANTA GA ARPT REVENUE CITY OF ATLANTA GA DEPARTMENT OF AVIATION                 | CUSIP: 04780ME62<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1616295.00   | 0.09%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW ORLEANS LA AVIATION BRD REV                                                | NEW ORLEANS LA AVIATION BRD NEW ORLEANS AVIATION BOARD                            | CUSIP: 64763HFB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3078938.10   | 0.18%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH MOBILE HOME PK REV                                     | CALIFORNIA ST MUNI FIN AUTH MO CALIFORNIA MUNICIPAL FINANCE AUTHORITY             | CUSIP: 13049SCQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1055000 | PA      | $1023780.23   | 0.06%             | 2037-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of New York                                                               | NEW YORK NY CITY OF NEW YORK NY                                                   | CUSIP: 64966QPY0<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2781173.18   | 0.16%             | 2036-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GAINESVILLE & HALL CNTY GA HOSP AUTH REV ANTIC CTFS                            | GAINESVILLE & HALL CNTY GA HOS GAINESVILLE & HALL COUNTY HOSPITAL AUTHORITY       | CUSIP: 362762QQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $826021.56    | 0.05%             | 2051-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CONVENTION CTR HOTEL AUTH REV                                      | DENVER CO CONVENTION CENTER HO DENVER CONVENTION CENTER HOTEL AUTHORITY           | CUSIP: 249189DK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    855000 | PA      | $870295.35    | 0.05%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PIEDMONT MUN PWR AGY S C ELEC REV                                              | PIEDMONT SC MUNI PWR AGY ELEC PIEDMONT MUNICIPAL POWER AGENCY                     | CUSIP: 720175A57<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    485000 | PA      | $496421.31    | 0.03%             | 2024-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TEX HIGHER ED FIN CORP ED REV                                        | ARLINGTON TX HGR EDU FIN CORP ARLINGTON HIGHER EDUCATION FINANCE CORP             | CUSIP: 0418067M6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    810000 | PA      | $896513.83    | 0.05%             | 2038-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL                                                                    | CHICAGO IL CITY OF CHICAGO IL                                                     | CUSIP: 167486WY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1130000 | PA      | $1149065.36   | 0.07%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MUNICIPAL ELEC AUTH GA                                                         | MUNI ELEC AUTH OF GA MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA                      | CUSIP: 62620HAV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $464080.15    | 0.03%             | 2046-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MAINE HEALTH & HIGHER EDL FACS AUTH REV                                        | MAINE HLTH & HGR EDUCTNL FACS MAINE HEALTH & HIGHER EDUCATIONAL FACILITIES AUTHO  | CUSIP: 56042RH21<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    265000 | PA      | $265324.02    | 0.02%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IDAHO HEALTH FACS AUTH REV                                                     | IDAHO ST HLTH FACS AUTH REVENU IDAHO HEALTH FACILITIES AUTHORITY                  | CUSIP: 451295B99<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $565725.25    | 0.03%             | 2032-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| APPLE VY MINN SR LIVING REV                                                    | APPLE VLY MN SENIOR LIVING REV CITY OF APPLE VALLEY MN                            | CUSIP: 03789YCM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1085000 | PA      | $998341.81    | 0.06%             | 2031-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH REV                                                          | ILLINOIS ST FIN AUTH REVENUE ILLINOIS FINANCE AUTHORITY                           | CUSIP: 45203HTB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1015223.20   | 0.06%             | 2028-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSN DEV CORP SPL FAC REV                                           | NEW YORK ST TRANSPRTN DEV CORP NEW YORK TRANSPORTATION DEVELOPMENT CORP           | CUSIP: 650116EZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2677842.30   | 0.15%             | 2031-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CHATTANOOGA TENN HEALTH EDL & HSG FAC BRD REV                                  | CHATTANOOGA TN HLTH EDUCTNL &H CHATTANOOGA HEALTH EDUCATIONAL & HOUSING FACILITY  | CUSIP: 162410EG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    420000 | PA      | $439760.79    | 0.03%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA SCH DIST                                                       | PHILADELPHIA PA SCH DIST SCHOOL DISTRICT OF PHILADELPHIA/THE                      | CUSIP: 717883VX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1652253.00   | 0.09%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS LTD OBLIG PILOT REV                                        | PUBLIC FIN AUTH WI LIMITED OBL PUBLIC FINANCE AUTHORITY                           | CUSIP: 74446HAD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1390000 | PA      | $1155995.72   | 0.07%             | 2050-12-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| CONNECTICUT ST HEALTH & EDL FACS AUTH REV                                      | CONNECTICUT ST HLTH & EDUCTNL CONNECTICUT STATE HEALTH & EDUCATIONAL FACILITIES   | CUSIP: 20775DRT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1420000 | PA      | $1341127.95   | 0.08%             | 2049-07-01      | Fixed         | 1.10%                 | No            |                  2 | On Loan: No      |
| KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV                                 | KENTUCKY ST PUBLIC ENERGY AUTH KENTUCKY PUBLIC ENERGY AUTHORITY                   | CUSIP: 74440DDS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2945000 | PA      | $2862295.57   | 0.16%             | 2052-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA TPK AUTH TRIANGLE EXPWY SYS REV                                 | NORTH CAROLINA ST TURNPIKE AUT NORTH CAROLINA TURNPIKE AUTHORITY                  | CUSIP: 65830RCC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2176217.60   | 0.12%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY REV                                               | MASSACHUSETTS ST DEV FIN AGY R MASSACHUSETTS DEVELOPMENT FINANCE AGENCY           | CUSIP: 57584YD89<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $123420.32    | 0.01%             | 2025-07-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| HAWAII ST ARPTS SYS REV                                                        | HAWAII ST ARPTS SYS REVENUE STATE OF HAWAII AIRPORTS SYSTEM REVENUE               | CUSIP: 419794ZV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3182723.10   | 0.18%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST MTG AGY HOMEOWNER MTG REV                                          | NEW YORK ST MTGE AGY HOMEOWNER STATE OF NEW YORK MORTGAGE AGENCY                  | CUSIP: 649883C45<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    920000 | PA      | $920117.39    | 0.05%             | 2024-04-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| DALLAS TEX HOTEL OCCUPANCY TAX REV                                             | DALLAS TX HOTEL OCCUPANCY TAX CITY OF DALLAS TX HOTEL OCCUPANCY TAX REVENUE       | CUSIP: 235286AN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    480000 | PA      | $477378.19    | 0.03%             | 2034-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IMLAY CITY MICH CMNTY SCHS DIST                                                | IMLAY CITY MI CMNTY SCH DIST IMLAY CITY COMMUNITY SCHOOLS                         | CUSIP: 452488LJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    420000 | PA      | $476693.91    | 0.03%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH REV                                                  | COLORADO ST HLTH FACS AUTH REV COLORADO HEALTH FACILITIES AUTHORITY               | CUSIP: 19648FWL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1230244.21   | 0.07%             | 2036-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LONG IS PWR AUTH N Y ELEC SYS REV                                              | LONG ISLAND NY PWR AUTH ELEC S LONG ISLAND POWER AUTHORITY                        | CUSIP: 542691AN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $270378.50    | 0.02%             | 2033-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG DEV AUTH SINGLE FAMILY MTG REV                                 | MICHIGAN ST HSG DEV AUTH SF MT MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY       | CUSIP: 594654GD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $213756.35    | 0.01%             | 2050-06-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH REV                                                  | COLORADO ST HLTH FACS AUTH REV COLORADO HEALTH FACILITIES AUTHORITY               | CUSIP: 19648FKP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1037624.60   | 0.06%             | 2037-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New York                                                               | NEW YORK NY CITY OF NEW YORK NY                                                   | CUSIP: 64966QFH8<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    500000 | PA      | $507808.05    | 0.03%             | 2035-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PORTS AUTH PORTS REV                                         | SOUTH CAROLINA ST PORTS AUTH P SOUTH CAROLINA PORTS AUTHORITY                     | CUSIP: 837123GJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1160000 | PA      | $1153542.05   | 0.07%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA WTR & WASTEWTR REV                                             | PHILADELPHIA PA WTR & WSTWTR R CITY OF PHILADELPHIA PA WATER & WASTEWATER REVENUE | CUSIP: 717893L58<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2257399.20   | 0.13%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEMPE ARIZ INDL DEV AUTH REV                                                   | TEMPE AZ INDL DEV AUTH REVENUE TEMPE INDUSTRIAL DEVELOPMENT AUTHORITY             | CUSIP: 87972MBM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $339470.04    | 0.02%             | 2028-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                                    | ILLINOIS ST STATE OF ILLINOIS                                                     | CUSIP: 452152T50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    780000 | PA      | $801099.23    | 0.05%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT AUTH IOWA TOB SETTLEMENT REV                                | TOBACCO SETTLEMENT AUTH IA TOB IOWA TOBACCO SETTLEMENT AUTHORITY                  | CUSIP: 888805BZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1075000 | PA      | $1015069.93   | 0.06%             | 2035-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA GAS SUPPLY REV                                         | MAIN STREET NATURAL GAS INC GA MAIN STREET NATURAL GAS INC                        | CUSIP: 56035DCH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3019449.00   | 0.17%             | 2049-08-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL BRD ED                                                             | CHICAGO IL BRD OF EDU CHICAGO BOARD OF EDUCATION                                  | CUSIP: 167505WX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101118.72    | 0.01%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA MUN PWR AGY PWR SUPPLY SYS REV                                         | INDIANA ST MUNI PWR AGY INDIANA MUNICIPAL POWER AGENCY                            | CUSIP: 454898TQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1296683.38   | 0.07%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST DEPT WTR RES CENT VY PROJ REV                                    | CALIFORNIA ST DEPT OF WTR RESO STATE OF CALIFORNIA DEPARTMENT OF WATER RESOURCES  | CUSIP: 13067WKE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5231.24      | 0.00%             | 2024-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALABAMA ST PORT AUTH DOCKS FACS REV                                            | ALABAMA ST PORT AUTH DOCKS FAC STATE OF ALABAMA DOCKS DEPARTMENT                  | CUSIP: 010604BY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1056637.50   | 0.06%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST SALES TAX REV                                                      | ILLINOIS ST SALES TAX REVENUE STATE OF ILLINOIS SALES TAX REVENUE                 | CUSIP: 452227NA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4600000 | PA      | $5014353.28   | 0.29%             | 2028-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FLA TOURIST DEV TAX REV                                            | ORANGE CNTY FL TOURIST DEV TAX ORANGE COUNTY CONVENTION CENTER/ORLANDO            | CUSIP: 684545ZV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3270000 | PA      | $3469764.30   | 0.20%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT SEATTLE WASH REV                                                          | PORT OF SEATTLE WA REVENUE PORT OF SEATTLE WA                                     | CUSIP: 735389V70<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1044149.70   | 0.06%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RAILSPLITTER TOB SETTLEMENT AUTH ILL SETTLEMENT REV                            | RAILSPLITTER IL TOBACCO SETTLE RAILSPLITTER TOBACCO SETTLEMENT AUTHORITY          | CUSIP: 75076PAZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6100000 | PA      | $6481769.72   | 0.37%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV                                    | NEW YORK CITY NY TRANSITIONAL NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTUR  | CUSIP: 64971XMS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1420000 | PA      | $1458061.82   | 0.08%             | 2024-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TEMPE ARIZ INDL DEV AUTH REV                                                   | TEMPE AZ INDL DEV AUTH REVENUE TEMPE INDUSTRIAL DEVELOPMENT AUTHORITY             | CUSIP: 87972MBN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    385000 | PA      | $351620.31    | 0.02%             | 2029-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH WASTEWATER UTIL REV                                        | INDIANA FIN AUTH IN WSTWTR UTI INDIANA FINANCE AUTHORITY                          | CUSIP: 45505MJS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1485000 | PA      | $1522339.14   | 0.09%             | 2036-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TPK COMMN TPK REV                                              | PENNSYLVANIA ST TURNPIKE COMMI PENNSYLVANIA TURNPIKE COMMISSION                   | CUSIP: 709224PB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3180376.80   | 0.18%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI JT MUN ELEC UTIL COMMN PWR PROJ REV                                   | MISSOURI JT MUNI ELEC UTILITY MISSOURI JOINT MUNICIPAL ELECTRIC UTILITY COMMISSI  | CUSIP: 606092HX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5135000 | PA      | $5366338.43   | 0.31%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVS NON ST SUPPORTED DEBT                               | NEW YORK ST DORM AUTH REVENUES NEW YORK STATE DORMITORY AUTHORITY                 | CUSIP: 65000BQW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3245000 | PA      | $3605582.45   | 0.21%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LONG IS PWR AUTH N Y ELEC SYS REV                                              | LONG ISLAND NY PWR AUTH ELEC S LONG ISLAND POWER AUTHORITY                        | CUSIP: 542691ER7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1980000 | PA      | $1997937.02   | 0.11%             | 2037-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN CORP TEX HOSP REV                                | NEW HOPE CULTURAL EDU FACS FIN NEW HOPE CULTURAL EDUCATION FACILITIES FINANCE COR | CUSIP: 645424AL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1645000 | PA      | $1780088.39   | 0.10%             | 2030-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL BRD ED                                                             | CHICAGO IL BRD OF EDU CHICAGO BOARD OF EDUCATION                                  | CUSIP: 167505WW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $657768.15    | 0.04%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New York                                                               | NEW YORK NY CITY OF NEW YORK NY                                                   | CUSIP: 64966QMG2<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1810000 | PA      | $2062540.43   | 0.12%             | 2032-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TARRANT CNTY TEX CULTURAL ED FACS FIN CORP HOSP REV                            | TARRANT CNTY TX CULTURAL EDU F TARRANT COUNTY CULTURAL EDUCATION FACILITIES FINAN | CUSIP: 87638QPJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1575383.25   | 0.09%             | 2032-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH SALES TAX REV ST SUPPORTED DEBT                          | NEW YORK ST DORM AUTH SALES TA NEW YORK STATE DORMITORY AUTHORITY                 | CUSIP: 64990ADY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5302556.00   | 0.30%             | 2030-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                                    | ILLINOIS ST STATE OF ILLINOIS                                                     | CUSIP: 452152Q20<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1042737.20   | 0.06%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIBERTY DEV CORP LIBERTY REV                                          | NEW YORK ST LIBERTY DEV CORP L NEW YORK LIBERTY DEVELOPMENT CORP                  | CUSIP: 649519EL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    610000 | PA      | $475086.54    | 0.03%             | 2042-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH REV                                                          | ILLINOIS ST FIN AUTH REVENUE ILLINOIS FINANCE AUTHORITY                           | CUSIP: 45203HZ62<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2659778.25   | 0.15%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MED CARE COMMN RETIREMENT FACS REV                              | NORTH CAROLINA ST MED CARE COM NORTH CAROLINA MEDICAL CARE COMMISSION             | CUSIP: 65820YRU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    740000 | PA      | $715380.57    | 0.04%             | 2024-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALA GAS SUPPLY REV                                  | BLACK BELT ENERGY GAS DIST AL BLACK BELT ENERGY GAS DISTRICT                      | CUSIP: 09182NBR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5570000 | PA      | $5466979.51   | 0.31%             | 2051-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WESTCHESTER CNTY N Y LOC DEV CORP REV                                          | WESTCHESTER CNTY NY LOCAL DEV WESTCHESTER COUNTY LOCAL DEVELOPMENT CORP           | CUSIP: 95737TEY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1055000 | PA      | $1016610.66   | 0.06%             | 2026-07-01      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| NORTH TEX TWY AUTH REV                                                         | N TX TOLLWAY AUTH REVENUE NORTH TEXAS TOLLWAY AUTHORITY                           | CUSIP: 66285WNL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4785000 | PA      | $4944793.16   | 0.28%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW ORLEANS LA AVIATION BRD SPL FAC REV                                        | NEW ORLEANS LA AVIATION BRD SP NEW ORLEANS AVIATION BOARD                         | CUSIP: 64763KAC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1644611.85   | 0.09%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REGIONAL TRANSN AUTH ILL                                                       | REGL TRANSPRTN AUTH IL REGIONAL TRANSPORTATION AUTHORITY                          | CUSIP: 759911RY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1162552.90   | 0.07%             | 2031-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TPK COMMN TPK REV                                              | PENNSYLVANIA ST TURNPIKE COMMI PENNSYLVANIA TURNPIKE COMMISSION                   | CUSIP: 709224A82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6525462.00   | 0.37%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSN DEV CORP SPL FAC REV                                           | NEW YORK ST TRANSPRTN DEV CORP NEW YORK TRANSPORTATION DEVELOPMENT CORP           | CUSIP: 650116DE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $118863.32    | 0.01%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LONG IS PWR AUTH N Y ELEC SYS REV                                              | LONG ISLAND NY PWR AUTH ELEC S LONG ISLAND POWER AUTHORITY                        | CUSIP: 542691DM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1366241.85   | 0.08%             | 2050-09-01      | Floating      | 0.84%                 | No            |                  2 | On Loan: No      |
| OHIO ST ADULT CORRECTIONAL CAP FACS                                            | OHIO ST ADULT CORRECTIONAL CAP STATE OF OHIO                                      | CUSIP: 677524BQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2655000 | PA      | $2908221.69   | 0.17%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST PORT AUTH SPL FACS REV                                        | MASSACHUSETTS ST PORT AUTH SPL MASSACHUSETTS PORT AUTHORITY                       | CUSIP: 575898DF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1330000 | PA      | $1425532.04   | 0.08%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUB SVCS AUTH REV                                            | SOUTH CAROLINA ST PUBLIC SVC A SOUTH CAROLINA PUBLIC SERVICE AUTHORITY            | CUSIP: 837151KE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3800000 | PA      | $3924320.04   | 0.22%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA GAS PROJ REV                                           | MAIN STREET NATURAL GAS INC GA MAIN STREET NATURAL GAS INC                        | CUSIP: 56036YDK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1915000 | PA      | $2066571.68   | 0.12%             | 2028-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH N H SR LIVING REV                                            | NATIONAL FIN AUTH NH SENIOR LI NEW HAMPSHIRE BUSINESS FINANCE AUTHORITY           | CUSIP: 63608SAH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $288381.03    | 0.02%             | 2029-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST                                                                  | WASHINGTON ST STATE OF WASHINGTON                                                 | CUSIP: 93974DLX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2730000 | PA      | $2854423.03   | 0.16%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY CENT ARK                                                            | UNIV OF CENTRAL ARKANSAS AR RE UNIVERSITY OF CENTRAL ARKANSAS                     | CUSIP: 914115RL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1265000 | PA      | $1332022.23   | 0.08%             | 2026-04-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| GEO L SMITH II GA WORLD CONGRESS CTR AUTH CONVENTION CTR HOTEL REV             | GEO L SMITH II GA CONGRESS CTR GEORGE L SMITH II CONGRESS CENTER AUTHORITY        | CUSIP: 37255MAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1215027.15   | 0.07%             | 2054-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EAST HEMPFIELD TWP PA INDL DEV AUTH REV                                        | E HEMPFIELD TWP PA INDL DEV AU EAST HEMPFIELD TOWNSHIP INDUSTRIAL DEVELOPMENT AUT | CUSIP: 273007BC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $904934.54    | 0.05%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH ED REV                                                   | ARIZONA ST INDL DEV AUTH EDU R ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY           | CUSIP: 04052BAT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1805000 | PA      | $1854222.53   | 0.11%             | 2037-07-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| SALT VERDE FINL CORP GAS REV  ARIZ                                             | SALT VERDE AZ FINANCIAL CORP S SALT VERDE FINANCIAL CORP                          | CUSIP: 79575EAM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4510000 | PA      | $4697076.15   | 0.27%             | 2026-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TEXAS ST                                                                       | TEXAS ST STATE OF TEXAS                                                           | CUSIP: 882723RG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3095014.50   | 0.18%             | 2029-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER COLO RIV AUTH TEX TRANSMISSION CONTRACT REV                              | LOWER COLORADO RIVER TX AUTH T LOWER COLORADO RIVER AUTHORITY                     | CUSIP: 54811BPQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1045449.60   | 0.06%             | 2031-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP SURFACE TRANSN FAC REV                                    | FLORIDA DEV FIN CORP SURFACE T FLORIDA DEVELOPMENT FINANCE CORP                   | CUSIP: 34061YAD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $899004.40    | 0.05%             | 2049-01-01      | Floating      | 6.50%                 | Yes           |                  2 | On Loan: No      |
| MASSACHUSETTS ST SCH BLDG AUTH DEDICATED SALES TAX REV                         | MASSACHUSETTS ST SCH BLDG AUTH MASSACHUSETTS SCHOOL BUILDING AUTHORITY            | CUSIP: 576000SH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1370000 | PA      | $1451629.94   | 0.08%             | 2029-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENNESSEE ENERGY ACQUISITION CORP GAS REV                                      | TENNESSEE ST ENERGY ACQUISITIO TENNESSEE ENERGY ACQUISITION CORP                  | CUSIP: 880443JE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2488352.75   | 0.14%             | 2049-11-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HSG & ECONOMIC DEV AUTH HOME OWNERSHIP REV                           | WISCONSIN ST HSG & ECON DEV AU WISCONSIN HOUSING & ECONOMIC DEVELOPMENT AUTHORITY | CUSIP: 97689QPF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    930000 | PA      | $896732.69    | 0.05%             | 2052-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| LOWER ALA GAS DIST GAS PROJ REV                                                | LOWER AL GAS DIST GAS PROJ REV LOWER ALABAMA GAS DISTRICT/THE                     | CUSIP: 547804AB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3300000 | PA      | $3453215.70   | 0.20%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZATION CORP ILL                                              | SALES TAX SECURITIZATION CORP SALES TAX SECURITIZATION CORP                       | CUSIP: 79467BBE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3760000 | PA      | $3972961.89   | 0.23%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS HOTEL REV                                                  | PUBLIC FIN AUTH WI HOTEL REVEN PUBLIC FINANCE AUTHORITY                           | CUSIP: 74447DAD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    815000 | PA      | $738192.12    | 0.04%             | 2062-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE N C ARPT REV                                                         | CHARLOTTE NC ARPT REVENUE CITY OF CHARLOTTE NC AIRPORT REVENUE                    | CUSIP: 161036NQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1525000 | PA      | $1638444.45   | 0.09%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENDALL KANE & WILL CNTYS ILL CMNTY UNIT SCH DIST NO 308                       | KENDALL KANE & WILL CNTYS IL C KENDALL KANE & WILL COUNTIES COMMUNITY UNIT SCHOOL | CUSIP: 488764YG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1055000 | PA      | $1136318.35   | 0.06%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TPK COMMN TPK REV                                              | PENNSYLVANIA ST TURNPIKE COMMI PENNSYLVANIA TURNPIKE COMMISSION                   | CUSIP: 709225GE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $273834.15    | 0.02%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CNTY CALIF TOB SECURITIZATION AGY TOB SETTLEMENT REV                | CALIFORNIA CNTY CA TOBACCO SEC CALIFORNIA COUNTY TOBACCO SECURITIZATION AGENCY    | CUSIP: 13016NEH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $207584.74    | 0.01%             | 2025-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH REV                                                  | COLORADO ST HLTH FACS AUTH REV COLORADO HEALTH FACILITIES AUTHORITY               | CUSIP: 19648FJY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $461982.85    | 0.03%             | 2038-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN CORP TEX SR LIVING REV                           | NEW HOPE CULTURAL EDU FACS FIN NEW HOPE CULTURAL EDUCATION FACILITIES FINANCE COR | CUSIP: 64542PGC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $580321.05    | 0.03%             | 2057-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV                     | GOLDEN ST TOBACCO SECURITIZATI GOLDEN STATE TOBACCO SECURITIZATION CORP           | CUSIP: 38122NZA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1567195.38   | 0.09%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST SPL TAX OBLIG REV                                               | CONNECTICUT ST SPL TAX OBLIG R STATE OF CONNECTICUT SPECIAL TAX REVENUE           | CUSIP: 207758C84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1332404.71   | 0.08%             | 2036-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| REGIONAL TRANSN DIST COLO PRIVATE ACTIVITY REV                                 | REGL CO TRANSPRTN DIST PRIV AC REGIONAL TRANSPORTATION DISTRICT                   | CUSIP: 759151BE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $635934.18    | 0.04%             | 2029-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP VA                                                | TOBACCO SETTLEMENT FING CORP V TOBACCO SETTLEMENT FINANCING CORP/VA               | CUSIP: 88880NAW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  41470000 | PA      | $9932123.06   | 0.57%             | 2047-06-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH REV                                                  | COLORADO ST HLTH FACS AUTH REV COLORADO HEALTH FACILITIES AUTHORITY               | CUSIP: 19648FXC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2265000 | PA      | $2421451.25   | 0.14%             | 2049-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH JERSEY PORT CORP N J REV                                                 | SOUTH JERSEY NJ PORT CORP SOUTH JERSEY PORT CORP                                  | CUSIP: 838530RB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $442156.57    | 0.03%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                            | CALIFORNIA ST STATE OF CALIFORNIA                                                 | CUSIP: 13063DQ84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $943711.91    | 0.05%             | 2035-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSN DEV CORP SPL FAC REV                                           | NEW YORK ST TRANSPRTN DEV CORP NEW YORK TRANSPORTATION DEVELOPMENT CORP           | CUSIP: 650116CX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4550000 | PA      | $4424440.93   | 0.25%             | 2030-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWR REV                                              | PUERTO RICO ELEC PWR AUTH PWR PUERTO RICO ELECTRIC POWER AUTHORITY                | CUSIP: 74526QKW1<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   1000000 | PA      | $737500.00    | 0.04%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  3 | On Loan: No      |
| State of California                                                            | CALIFORNIA ST STATE OF CALIFORNIA                                                 | CUSIP: 13063CU40<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1628901.00   | 0.09%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS PRIVATE ACTIVITY BD SURFACE TRANSN CORP REV                              | TEXAS ST PRIV ACTIVITY BOND SU TEXAS PRIVATE ACTIVITY BOND SURFACE TRANSPORTATION | CUSIP: 882667AG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2559866.25   | 0.15%             | 2038-12-31      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV                                    | NEW YORK CITY NY TRANSITIONAL NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTUR  | CUSIP: 64971XRU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    925000 | PA      | $1050326.12   | 0.06%             | 2033-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TWY AUTH ST PERS INCOME TAX REV                                    | NEW YORK ST THRUWAY AUTH PERSO NEW YORK STATE THRUWAY AUTHORITY                   | CUSIP: 650028WW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2895000 | PA      | $2955893.14   | 0.17%             | 2036-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ST LOUIS MO ARPT REV                                                           | SAINT LOUIS MO ARPT REVENUE CITY OF ST LOUIS MO AIRPORT REVENUE                   | CUSIP: 791638K57<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $663587.31    | 0.04%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HEALTH & EDL FACS AUTH HEALTH FACS REV                             | MISSOURI ST HLTH & EDUCTNL FAC HEALTH & EDUCATIONAL FACILITIES AUTHORITY OF THE S | CUSIP: 60637AHW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3114056.70   | 0.18%             | 2034-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                                    | ILLINOIS ST STATE OF ILLINOIS                                                     | CUSIP: 452152VG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3350000 | PA      | $3394730.88   | 0.19%             | 2030-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PORT SEATTLE WASH REV                                                          | PORT OF SEATTLE WA REVENUE PORT OF SEATTLE WA                                     | CUSIP: 735389H68<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1572425.25   | 0.09%             | 2036-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI JT MUN ELEC UTIL COMMN PWR PROJ REV                                   | MISSOURI JT MUNI ELEC UTILITY MISSOURI JOINT MUNICIPAL ELECTRIC UTILITY COMMISSI  | CUSIP: 606092GA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1850000 | PA      | $1887605.14   | 0.11%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BAY AREA TOLL AUTH CALIF TOLL BRDG REV                                         | BAY AREA CA TOLL AUTH TOLL BRI BAY AREA TOLL AUTHORITY                            | CUSIP: 072024XT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1115000 | PA      | $1087268.50   | 0.06%             | 2056-04-01      | Floating      | 1.97%                 | No            |                  2 | On Loan: No      |
| PORT PORTLAND ORE ARPT REV                                                     | PORT OF PORTLAND OR ARPT REVEN PORT OF PORTLAND OR AIRPORT REVENUE                | CUSIP: 7352402J1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1941135.80   | 0.11%             | 2036-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA ST HWY IMPT REV                                                      | LOUISIANA ST HIGHWAY IMPT REVE STATE OF LOUISIANA                                 | CUSIP: 546486BM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1554591.15   | 0.09%             | 2030-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL FLA EXPWY AUTH SR LIENREV                                              | CENTRL FL EXPRESSWAY AUTH SR L CENTRAL FLORIDA EXPRESSWAY AUTHORITY               | CUSIP: 153476CQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1356439.88   | 0.08%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COOK CNTY ILL SALES TAX REV                                                    | COOK CNTY IL SALES TAX REVENUE COUNTY OF COOK IL SALES TAX REVENUE                | CUSIP: 213248BF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4215915.20   | 0.24%             | 2035-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY INDL DEV AGY REV                                             | NEW YORK CITY NY INDL DEV AGY NEW YORK CITY INDUSTRIAL DEVELOPMENT AGENCY         | CUSIP: 64971PLC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    740000 | PA      | $670937.65    | 0.04%             | 2034-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| HALIFAX CNTY VA INDL DEV AUTH REV                                              | HALIFAX CNTY VA INDL DEV AUTH HALIFAX COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY     | CUSIP: 40579PAD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1320000 | PA      | $1271869.90   | 0.07%             | 2041-12-01      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST TOLL HWY AUTH TOLL HIGHWAY REV                                     | ILLINOIS ST TOLL HIGHWAY AUTH ILLINOIS STATE TOLL HIGHWAY AUTHORITY               | CUSIP: 452252JA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1275562.50   | 0.07%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WHITING IND ENVIRONMENTAL FACS REV                                             | WHITING IN ENVRNMNTL FACS REVE CITY OF WHITING IN                                 | CUSIP: 96634RAT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5078162.50   | 0.29%             | 2047-11-01      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| OSCEOLA CNTY FLA TRANSN REV                                                    | OSCEOLA CNTY FL TRANSPRTN REVE COUNTY OF OSCEOLA FL TRANSPORTATION REVENUE        | CUSIP: 688031EG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    360000 | PA      | $285278.00    | 0.02%             | 2027-10-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH STUDENT HSG & ACADEMIC FAC REV                               | ILLINOIS ST FIN AUTH STUDENT H ILLINOIS FINANCE AUTHORITY                         | CUSIP: 45203KAJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $395356.80    | 0.02%             | 2029-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT SEATTLE WASH REV                                                          | PORT OF SEATTLE WA REVENUE PORT OF SEATTLE WA                                     | CUSIP: 735389G69<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5055000 | PA      | $5413630.51   | 0.31%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWR REV                                              | PUERTO RICO ELEC PWR AUTH PWR PUERTO RICO ELECTRIC POWER AUTHORITY                | CUSIP: 74526QVX7<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   2940000 | PA      | $2175600.00   | 0.12%             | 2040-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TEX ELEC & GAS REV                                                 | SAN ANTONIO TX ELEC & GAS REVE CITY OF SAN ANTONIO TX ELECTRIC & GAS SYSTEMS REVE | CUSIP: 79625GEC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1066665.40   | 0.06%             | 2033-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TENNESSEE HSG DEV AGY RESIDENTIAL FIN PROG REV                                 | TENNESSEE HSG DEV AGY RSDL FIN TENNESSEE HOUSING DEVELOPMENT AGENCY               | CUSIP: 880461DN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    615000 | PA      | $614372.21    | 0.04%             | 2045-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST HOSP REV                                                               | OHIO ST HOSP REVENUE STATE OF OHIO                                                | CUSIP: 67756CEJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3230000 | PA      | $3343304.20   | 0.19%             | 2050-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TEX ELEC & GAS REV                                                 | SAN ANTONIO TX ELEC & GAS REVE CITY OF SAN ANTONIO TX ELECTRIC & GAS SYSTEMS REVE | CUSIP: 79625GDM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1900992.70   | 0.11%             | 2034-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DALLAS TEX HOTEL OCCUPANCY TAX REV                                             | DALLAS TX HOTEL OCCUPANCY TAX CITY OF DALLAS TX HOTEL OCCUPANCY TAX REVENUE       | CUSIP: 235286AK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006991.20   | 0.06%             | 2031-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF DEPT WTR & PWR WTRWKS REV                                    | LOS ANGELES CA DEPT OF WTR & P LOS ANGELES DEPARTMENT OF WATER & POWER WATER SYST | CUSIP: 544525YL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $650000.00    | 0.04%             | 2045-07-01      | Floating      | 0.60%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVS NON ST SUPPORTED DEBT                               | NEW YORK ST DORM AUTH REVENUES NEW YORK STATE DORMITORY AUTHORITY                 | CUSIP: 64990CVJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2153381.00   | 0.12%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS LEASE DEV REV                                              | PUBLIC FIN AUTH WI LEASE DEV R PUBLIC FINANCE AUTHORITY                           | CUSIP: 74444YAS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6880000 | PA      | $7206511.73   | 0.41%             | 2034-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MUNICIPAL ELEC AUTH GA                                                         | MUNI ELEC AUTH OF GEORGIA MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA                 | CUSIP: 626207Y32<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1025000 | PA      | $1109910.69   | 0.06%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New York                                                               | NEW YORK NY CITY OF NEW YORK NY                                                   | CUSIP: 64966QXW5<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1336140.25   | 0.08%             | 2047-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT VERDE FINL CORP GAS REV  ARIZ                                             | SALT VERDE AZ FINANCIAL CORP S SALT VERDE FINANCIAL CORP                          | CUSIP: 79575EAK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1330000 | PA      | $1364217.04   | 0.08%             | 2024-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PORT ST LUCIE FLA UTIL REV                                                     | PORT SAINT LUCIE FL UTILITY RE CITY OF PORT ST LUCIE FL UTILITY SYSTEM REVENUE    | CUSIP: 735352QD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1609015.80   | 0.09%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEBRASKA PUB PWR DIST REV                                                      | NEBRASKA ST PUBLIC PWR DIST RE NEBRASKA PUBLIC POWER DISTRICT                     | CUSIP: 63968AZ40<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1080802.70   | 0.06%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAMILTON CNTY OHIO SALES TAX                                                   | HAMILTON CNTY OH SALES TAX COUNTY OF HAMILTON OH SALES TAX REVENUE                | CUSIP: 407287MG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1658883.04   | 0.09%             | 2032-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMN                                                    | WASHINGTON ST HSG FIN COMMISSI WASHINGTON STATE HOUSING FINANCE COMMISSION        | CUSIP: 93978TS59<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    978420 | PA      | $876984.23    | 0.05%             | 2035-12-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST                                                                   | WISCONSIN ST STATE OF WISCONSIN                                                   | CUSIP: 97705MGQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1278748.04   | 0.07%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY HOUSTON TEX UNIV REVS                                               | UNIV OF HOUSTON TX UNIV REVENU UNIVERSITY OF HOUSTON                              | CUSIP: 914302EU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3211194.00   | 0.18%             | 2029-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS REV                           | NEW YORK CITY NY MUNI WTR FIN NEW YORK CITY MUNICIPAL WATER FINANCE AUTHORITY     | CUSIP: 64972GXW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1520092.44   | 0.09%             | 2040-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV                                 | KENTUCKY ST PUBLIC ENERGY AUTH KENTUCKY PUBLIC ENERGY AUTHORITY                   | CUSIP: 74440DCZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1775000 | PA      | $1762155.92   | 0.10%             | 2050-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CLEAR CREEK TEX INDPT SCH DIST                                                 | CLEAR CREEK TX INDEP SCH DIST CLEAR CREEK INDEPENDENT SCHOOL DISTRICT             | CUSIP: 184541EF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    640000 | PA      | $603226.11    | 0.03%             | 2038-02-15      | Floating      | 0.28%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA DEV FIN AUTH HEALTH SYS REV                                           | OKLAHOMA ST DEV FIN AUTH HLTHS OKLAHOMA DEVELOPMENT FINANCE AUTHORITY             | CUSIP: 67884XCG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1510000 | PA      | $1386878.22   | 0.08%             | 2043-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NORTH TEX TWY AUTH REV                                                         | N TX TOLLWAY AUTH REVENUE NORTH TEXAS TOLLWAY AUTHORITY                           | CUSIP: 66285WXB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1775000 | PA      | $1871972.16   | 0.11%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ST JOHN BAPTIST PARISH LA REV                                                  | SAINT JOHN THE BAPTIST PARISH PARISH OF ST JOHN THE BAPTIST LA                    | CUSIP: 79020FAY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $918471.50    | 0.05%             | 2037-06-01      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZATION CORP ILL                                              | SALES TAX SECURITIZATION CORP SALES TAX SECURITIZATION CORP                       | CUSIP: 79467BBH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1043072.10   | 0.06%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH ARPT SYS REV                                  | MET WASHINGTON DC ARPTS AUTH A METROPOLITAN WASHINGTON AIRPORTS AUTHORITY AVIATIO | CUSIP: 592647FY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4805529.30   | 0.27%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY ARIZ INDL DEV AUTH REV                                           | MARICOPA CNTY AZ INDL DEV AUTH MARICOPA COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY   | CUSIP: 56682HBV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2419318.13   | 0.14%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH DAKOTA ST HSG FIN AGY                                                    | NORTH DAKOTA ST HSG FIN AGY NORTH DAKOTA HOUSING FINANCE AGENCY                   | CUSIP: 658909ST4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    380000 | PA      | $371578.86    | 0.02%             | 2033-07-01      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI BUSINESS FIN CORP MISS GULF OPPORTUNITY ZONE                       | MISSISSIPPI ST BUSINESS FIN CO MISSISSIPPI BUSINESS FINANCE CORP                  | CUSIP: 60528ACD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    645000 | PA      | $645000.00    | 0.04%             | 2035-11-01      | Floating      | 1.00%                 | No            |                  2 | On Loan: No      |
| STOCKTON CALIF REDEV AGY SUCCESSOR AGY TAX ALLOCATION                          | STOCKTON CA REDEV AGY SUCCESSO STOCKTON REDEVELOPMENT AGENCY SUCCESSOR AGENCY     | CUSIP: 861403AH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1815000 | PA      | $1946347.92   | 0.11%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST PUB WKS BRD LEASE REV                                            | CALIFORNIA ST PUBLIC WKS BRD L CALIFORNIA STATE PUBLIC WORKS BOARD                | CUSIP: 13068LCH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006047.60   | 0.06%             | 2026-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZATION CORP ILL                                              | SALES TAX SECURITIZATION CORP SALES TAX SECURITIZATION CORP                       | CUSIP: 79467BEJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3301512.60   | 0.19%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON CNTY VA INDL DEV AUTH HOSP FAC REV                                   | ARLINGTON CNTY VA INDL DEV AUT ARLINGTON COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY  | CUSIP: 041438GP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $267390.98    | 0.02%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI JT MUN ELEC UTIL COMMN PWR PROJ REV                                   | MISSOURI JT MUNI ELEC UTILITY MISSOURI JOINT MUNICIPAL ELECTRIC UTILITY COMMISSI  | CUSIP: 606092GW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2065304.00   | 0.12%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISVILLE & JEFFERSON CNTY KY METRO GOVT HEALTH SYS REV                       | LOUISVILLE & JEFFERSON CNTY KY LOUISVILLE/JEFFERSON COUNTY METROPOLITAN GOVERNMEN | CUSIP: 54659LCD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1232502.03   | 0.07%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA ST HEALTH & EDL FACS AUTH REV                                     | SOUTH DAKOTA ST HLTH & EDUCTNL SOUTH DAKOTA HEALTH & EDUCATIONAL FACILITIES AUTHO | CUSIP: 83755VZQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    830000 | PA      | $870728.10    | 0.05%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH REV                                          | VIRGINIA ST SMALL BUSINESS FIN VIRGINIA SMALL BUSINESS FINANCING AUTHORITY        | CUSIP: 928104QG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2086974.20   | 0.12%             | 2042-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TPK COMMN TPK REV                                              | PENNSYLVANIA ST TURNPIKE COMMI PENNSYLVANIA TURNPIKE COMMISSION                   | CUSIP: 709225BZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1960000 | PA      | $1943866.06   | 0.11%             | 2041-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST PRIVATE ACTIVITY REV                                                   | OHIO ST PRIVATE ACTIVITY REVEN STATE OF OHIO                                      | CUSIP: 67759YAJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    655000 | PA      | $676661.96    | 0.04%             | 2027-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NEV PASSENGER FAC CHARGE REV                                        | CLARK CNTY NV PASSENGER FAC CH COUNTY OF CLARK NV PASSENGER FACILITY CHARGE REVEN | CUSIP: 181006GT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1545000 | PA      | $1688845.53   | 0.10%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH FING AUTH PA TOB MASTER SETTLEMENT PMT REV                        | CMWLTH FING AUTH PA TOBACCO MA COMMONWEALTH FINANCING AUTHORITY                   | CUSIP: 20282EAP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3795095.15   | 0.22%             | 2033-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP EDL FACS REV                                              | FLORIDA ST DEV FIN CORP EDUCTN FLORIDA DEVELOPMENT FINANCE CORP                   | CUSIP: 34061UEW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    285000 | PA      | $299381.90    | 0.02%             | 2026-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN PIER & EXPOSITION AUTH ILL REV                                    | MET PIER & EXPOSITION AUTH IL METROPOLITAN PIER & EXPOSITION AUTHORITY            | CUSIP: 592250CV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $409008.44    | 0.02%             | 2034-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH REV                                                          | MICHIGAN ST FIN AUTH REVENUE MICHIGAN FINANCE AUTHORITY                           | CUSIP: 59447TU27<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $221058.13    | 0.01%             | 2025-10-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| CHATTANOOGA TENN HEALTH EDL & HSG FAC BRD REV                                  | CHATTANOOGA TN HLTH EDUCTNL &H CHATTANOOGA HEALTH EDUCATIONAL & HOUSING FACILITY  | CUSIP: 162410EF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1015000 | PA      | $1067863.43   | 0.06%             | 2034-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH REV                                          | VIRGINIA ST SMALL BUSINESS FIN VIRGINIA SMALL BUSINESS FINANCING AUTHORITY        | CUSIP: 928104ML9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    490000 | PA      | $510459.71    | 0.03%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH REV                                                          | MICHIGAN ST FIN AUTH REVENUE MICHIGAN FINANCE AUTHORITY                           | CUSIP: 59447TT86<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $625729.78    | 0.04%             | 2023-10-15      | Fixed         | 0.40%                 | No            |                  2 | On Loan: No      |
| HOUSTON TEX HOTEL OCCUPANCY TAX & SPL REV                                      | HOUSTON TX HOTEL OCCUPANCY TAX CITY OF HOUSTON TX HOTEL OCCUPANCY TAX & SPECIAL R | CUSIP: 44237NLF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    190000 | PA      | $191691.57    | 0.01%             | 2023-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                            | CALIFORNIA ST STATE OF CALIFORNIA                                                 | CUSIP: 13063CYL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5015000 | PA      | $5332090.43   | 0.30%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST HIGHER EDL FAC COMMN  REV                                              | OHIO ST HGR EDUCTNL FAC COMMIS OHIO HIGHER EDUCATIONAL FACILITY COMMISSION        | CUSIP: 67756DC79<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $317412.81    | 0.02%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL O HARE INTL ARPT REV                                               | CHICAGO IL O'HARE INTERNATIONA CHICAGO O'HARE INTERNATIONAL AIRPORT               | CUSIP: 167593RG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4151690.80   | 0.24%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE N C ARPT REV                                                         | CHARLOTTE NC ARPT REVENUE CITY OF CHARLOTTE NC AIRPORT REVENUE                    | CUSIP: 161036LW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1639655.85   | 0.09%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA INDL DEV AUTH RETIREMENT CMNTY REV                          | MONTGOMERY CNTY PA INDL DEV AU MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY | CUSIP: 61360PCK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4485000 | PA      | $4484882.04   | 0.26%             | 2036-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COCONINO CNTY ARIZ POLLUTN CTL CORP REV                                        | COCONINO CNTY AZ POLL CONTROLC COCONINO COUNTY POLLUTION CONTROL CORP             | CUSIP: 191855BL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1990579.80   | 0.11%             | 2039-03-01      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST TRANSN AUTH PASSENGER FAC CHARGE REV                               | MARYLAND ST TRANSPRTN AUTH PAS MARYLAND STATE TRANSPORTATION AUTHORITY PASSENGER  | CUSIP: 57429NCQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4850000 | PA      | $5132105.59   | 0.29%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH N H SR LIVING REV                                            | NATIONAL FIN AUTH NH SENIOR LI NEW HAMPSHIRE BUSINESS FINANCE AUTHORITY           | CUSIP: 63608SAM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    670000 | PA      | $527872.70    | 0.03%             | 2051-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI JT MUN ELEC UTIL COMMN PWR PROJ REV                                   | MISSOURI JT MUNI ELEC UTILITY MISSOURI JOINT MUNICIPAL ELECTRIC UTILITY COMMISSI  | CUSIP: 606092GB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1427858.04   | 0.08%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CONVENTION CTR HOTEL AUTH REV                                      | DENVER CO CONVENTION CENTER HO DENVER CONVENTION CENTER HOTEL AUTHORITY           | CUSIP: 249189DP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $804981.28    | 0.05%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FAIRFAX CNTY VA INDL DEV AUTH REV                                              | FAIRFAX CNTY VA INDL DEV AUTH FAIRFAX COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY     | CUSIP: 303823LP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3055000 | PA      | $3283304.12   | 0.19%             | 2026-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                                    | ILLINOIS ST STATE OF ILLINOIS                                                     | CUSIP: 452153AH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    895000 | PA      | $942144.39    | 0.05%             | 2029-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH REV                                                          | MICHIGAN ST FIN AUTH REVENUE MICHIGAN FINANCE AUTHORITY                           | CUSIP: 59447TQN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2125662.60   | 0.12%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA ST HEALTH & EDL FACS AUTH REV                                     | SOUTH DAKOTA ST HLTH & EDUCTNL SOUTH DAKOTA HEALTH & EDUCATIONAL FACILITIES AUTHO | CUSIP: 83755VZR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $943759.89    | 0.05%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NEV SCH DIST                                                        | CLARK CNTY NV SCH DIST CLARK COUNTY SCHOOL DISTRICT                               | CUSIP: 181059Z82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1805000 | PA      | $1940941.05   | 0.11%             | 2026-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI ST GAMING TAX REV                                                  | MISSISSIPPI ST GAMING TAX REVE STATE OF MISSISSIPPI GAMING TAX REVENUE            | CUSIP: 605638BA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    285000 | PA      | $290078.22    | 0.02%             | 2023-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HEALTH & EDL FACS AUTH REV                                      | CONNECTICUT ST HLTH & EDUCTNL CONNECTICUT STATE HEALTH & EDUCATIONAL FACILITIES   | CUSIP: 20774Y7D3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1230000 | PA      | $1258114.23   | 0.07%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH WASTEWATER UTIL REV                                        | INDIANA FIN AUTH IN WSTWTR UTI INDIANA FINANCE AUTHORITY                          | CUSIP: 45505MJN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5025000 | PA      | $5863731.80   | 0.33%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL PLAINS ENERGY PROJ NEB GAS PROJ REV                                    | CENTRL PLAINS ENERGY PROJ NE G CENTRAL PLAINS ENERGY PROJECT                      | CUSIP: 154871CP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    730000 | PA      | $755136.53    | 0.04%             | 2042-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL O HARE INTL ARPT REV                                               | CHICAGO IL O'HARE INTERNATIONA CHICAGO O'HARE INTERNATIONAL AIRPORT               | CUSIP: 167593VN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2450000 | PA      | $2577219.68   | 0.15%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH STUDENT HSG & ACADEMIC FAC REV                               | ILLINOIS ST FIN AUTH STUDENT H ILLINOIS FINANCE AUTHORITY                         | CUSIP: 45203KAL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $358238.23    | 0.02%             | 2031-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HSG DEV COMMN SINGLE FAMILY MTG REV                                | MISSOURI ST HSG DEV COMMISSION MISSOURI HOUSING DEVELOPMENT COMMISSION            | CUSIP: 60637BN30<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    785000 | PA      | $759438.20    | 0.04%             | 2052-11-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| LOVE FIELD ARPT MODERNIZATION CORP TEX GEN ARPT REV                            | LOVE FIELD TX ARPT MODERNIZATI LOVE FIELD AIRPORT MODERNIZATION CORP              | CUSIP: 54714CBL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1032539.60   | 0.06%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH REV                                        | WISCONSIN ST HLTH & EDUCTNL FA WISCONSIN HEALTH & EDUCATIONAL FACILITIES AUTHORIT | CUSIP: 97712DKP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1155000 | PA      | $1175814.14   | 0.07%             | 2034-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH REV                                          | VIRGINIA ST SMALL BUSINESS FIN VIRGINIA SMALL BUSINESS FINANCING AUTHORITY        | CUSIP: 928104PH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1126127.47   | 0.06%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KING CNTY WASH PUB HOSP DIST NO 001                                            | KING CNTY WA PUBLIC HOSP DIST KING COUNTY PUBLIC HOSPITAL DISTRICT NO 1           | CUSIP: 494782KC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7720000 | PA      | $8287302.66   | 0.47%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST                                                                 | CONNECTICUT ST STATE OF CONNECTICUT                                               | CUSIP: 20772JRB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2040067.00   | 0.12%             | 2025-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL O HARE INTL ARPT REV                                               | CHICAGO IL O'HARE INTERNATIONA CHICAGO O'HARE INTERNATIONAL AIRPORT               | CUSIP: 167593QK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5114819.00   | 0.29%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL O HARE INTL ARPT REV                                               | CHICAGO IL O'HARE INTERNATIONA CHICAGO O'HARE INTERNATIONAL AIRPORT               | CUSIP: 167593RJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5840000 | PA      | $6030855.87   | 0.34%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WYANDOTTE CNTY KANS CITY KANS UNI GOVT SPL OBLIG REV                           | WYANDOTTE CNTY KS KANSAS CITY WYANDOTTE COUNTY-KANSAS CITY UNIFIED GOVERNMENT     | CUSIP: 98267VDC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    870000 | PA      | $814299.29    | 0.05%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZATION CORP ILL                                              | SALES TAX SECURITIZATION CORP SALES TAX SECURITIZATION CORP                       | CUSIP: 79467BEB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    360000 | PA      | $378900.50    | 0.02%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS WATER DEV BRD                                                            | TEXAS ST WTR DEV BRD TEXAS WATER DEVELOPMENT BOARD                                | CUSIP: 882854G63<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3750000 | PA      | $4074812.25   | 0.23%             | 2026-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL MOTOR FUEL TAX REV                                                 | CHICAGO IL MTR FUEL TAX REVENU CITY OF CHICAGO IL MOTOR FUEL TAX REVENUE          | CUSIP: 16756KEE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1024303.10   | 0.06%             | 2024-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CONVENTION CTR HOTEL AUTH REV                                      | DENVER CO CONVENTION CENTER HO DENVER CONVENTION CENTER HOTEL AUTHORITY           | CUSIP: 249189DQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $602584.08    | 0.03%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA HOSPS & HIGHER ED FACS AUTH REV                                | PHILADELPHIA PA HOSPS & HGR ED HOSPITALS & HIGHER EDUCATION FACILITIES AUTHORITY  | CUSIP: 717825PZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $753623.36    | 0.04%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA JOBS-ECONOMIC DEV AUTH EDL FACS REV                             | SOUTH CAROLINA ST JOBS-ECON DE SOUTH CAROLINA JOBS-ECONOMIC DEVELOPMENT AUTHORITY | CUSIP: 83704MAL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1870000 | PA      | $1897462.07   | 0.11%             | 2039-06-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| SEMINOLE CNTY FLA INDL DEV AUTH RETIREMENT FAC REV                             | SEMINOLE CNTY FL INDL DEV AUTH SEMINOLE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY   | CUSIP: 81669TAF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    835000 | PA      | $780544.97    | 0.04%             | 2025-11-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| WASHINGTON CNTY NEB WASTEWATER & SOLID WASTE DISP FACS REV                     | WASHINGTON CNTY NE WSTWTR SOLW COUNTY OF WASHINGTON NE                            | CUSIP: 938120AD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $660463.23    | 0.04%             | 2030-09-01      | Fixed         | 0.90%                 | No            |                  2 | On Loan: No      |
| NEW ORLEANS LA AVIATION BRD GULF OPPORTUNITY ZONE CFC REV                      | NEW ORLEANS LA AVIATION BRD GU NEW ORLEANS AVIATION BOARD                         | CUSIP: 64763XAR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1340291.61   | 0.08%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSN DEV CORP SPL FAC REV                                           | NEW YORK ST TRANSPRTN DEV CORP NEW YORK TRANSPORTATION DEVELOPMENT CORP           | CUSIP: 650116FM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3013434.90   | 0.17%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MUNICIPAL ELEC AUTH GA                                                         | MUNI ELEC AUTH OF GA MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA                      | CUSIP: 62620HAU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $631012.53    | 0.04%             | 2041-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX ARIZ CIVIC IMPT CORP ARPT REV                                          | PHOENIX AZ CIVIC IMPT CORP ARP CITY OF PHOENIX CIVIC IMPROVEMENT CORP             | CUSIP: 71883MJW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $523915.25    | 0.03%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSN AUTH N Y DEDICATED TAX FD                                  | MET TRANSPRTN AUTH NY DEDICATE METROPOLITAN TRANSPORTATION AUTHORITY              | CUSIP: 59259NV91<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4140000 | PA      | $4216859.93   | 0.24%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KANE CNTY ILL SCH DIST NO 131 AURORA EAST SIDE                                 | KANE CNTY IL SCH DIST #131 AUR KANE COUNTY SCHOOL DISTRICT NO 131 AURORA EAST SID | CUSIP: 484008PC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    815000 | PA      | $876798.52    | 0.05%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OCTORARA PA AREA SCH DIST                                                      | OCTORARA PA AREA SCH DIST OCTORARA AREA SCHOOL DISTRICT                           | CUSIP: 675740RS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $254077.60    | 0.01%             | 2024-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MEDFORD ORE HOSP FACS AUTH REV                                                 | MEDFORD OR HOSP FACS AUTH REVE MEDFORD HOSPITAL FACILITIES AUTHORITY              | CUSIP: 584283GJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $276815.14    | 0.02%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER ALA GAS DIST GAS PROJ REV                                                | LOWER AL GAS DIST GAS PROJ REV LOWER ALABAMA GAS DISTRICT/THE                     | CUSIP: 547804AD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3140000 | PA      | $3313919.26   | 0.19%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH EAST INDPT SCH DIST TEX                                                  | NORTH EAST TX INDEP SCH DIST NORTH EAST INDEPENDENT SCHOOL DISTRICT/TX            | CUSIP: 659155QH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3175000 | PA      | $3152074.28   | 0.18%             | 2052-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST MUN PWR AGY REV                                                     | FLORIDA ST MUNI PWR AGY FLORIDA MUNICIPAL POWER AGENCY                            | CUSIP: 342816H73<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1480000 | PA      | $1539492.15   | 0.09%             | 2024-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TEX CULTURAL ED FACS FIN CORP THERMAL UTIL REV                     | HARRIS CNTY TX CULTURAL EDU FA HARRIS COUNTY CULTURAL EDUCATION FACILITIES FINANC | CUSIP: 41401PCK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1372841.38   | 0.08%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL O HARE INTL ARPT REV                                               | CHICAGO IL O'HARE INTERNATIONA CHICAGO O'HARE INTERNATIONAL AIRPORT               | CUSIP: 167593K84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1290000 | PA      | $1344742.31   | 0.08%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST                                                                    | MARYLAND ST STATE OF MARYLAND                                                     | CUSIP: 574193PZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5269527.00   | 0.30%             | 2025-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS & ST PAUL MINN MET ARPTS COMMN ARPT REV                            | MINNEAPOLIS-SAINT PAUL MN MET MINNEAPOLIS-ST PAUL METROPOLITAN AIRPORTS COMMISSI  | CUSIP: 603827YS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $321860.40    | 0.02%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TEX ARPT SYS REV                                                       | HOUSTON TX ARPT SYS REVENUE CITY OF HOUSTON TX AIRPORT SYSTEM REVENUE             | CUSIP: 442349CE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2450000 | PA      | $2609691.74   | 0.15%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ENERGY NORTHWEST WASH ELEC REV                                                 | ENERGY N W WA ELEC REVENUE ENERGY NORTHWEST                                       | CUSIP: 29270C4J1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2771855.75   | 0.16%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FLA TOURIST DEV TAX REV                                            | ORANGE CNTY FL TOURIST DEV TAX ORANGE COUNTY CONVENTION CENTER/ORLANDO            | CUSIP: 684545YC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    310000 | PA      | $322066.35    | 0.02%             | 2024-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TPK AUTH TPK REV                                                 | NEW JERSEY ST TURNPIKE AUTH TU NEW JERSEY TURNPIKE AUTHORITY                      | CUSIP: 6461396R1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2230000 | PA      | $2403535.48   | 0.14%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA ST GAS & FUELS TAX REV                                               | LOUISIANA ST GAS & FUELS TAX R STATE OF LOUISIANA GASOLINE & FUELS TAX REVENUE    | CUSIP: 546475VU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    395000 | PA      | $383347.34    | 0.02%             | 2043-05-01      | Floating      | 3.16%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF DEPT WTR & PWR REV                                           | LOS ANGELES CA DEPT WTR & PWR LOS ANGELES DEPARTMENT OF WATER & POWER             | CUSIP: 544495D68<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2562374.75   | 0.15%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| APPLE VY MINN SR LIVING REV                                                    | APPLE VLY MN SENIOR LIVING REV CITY OF APPLE VALLEY MN                            | CUSIP: 03789YDU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $333753.72    | 0.02%             | 2037-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH REV                                        | WISCONSIN ST HLTH & EDUCTNL FA WISCONSIN HEALTH & EDUCATIONAL FACILITIES AUTHORIT | CUSIP: 97712D4A1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1035000 | PA      | $990583.18    | 0.06%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                                    | ILLINOIS ST STATE OF ILLINOIS                                                     | CUSIP: 452152P70<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1014278.10   | 0.06%             | 2023-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COOK CNTY ILL                                                                  | COOK CNTY IL COUNTY OF COOK IL                                                    | CUSIP: 213185MX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $556321.10    | 0.03%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH TEX TWY AUTH REV                                                         | N TX TOLLWAY AUTH REVENUE NORTH TEXAS TOLLWAY AUTHORITY                           | CUSIP: 66285WNH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5198567.00   | 0.30%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OSCEOLA CNTY FLA TRANSN REV                                                    | OSCEOLA CNTY FL TRANSPRTN REVE COUNTY OF OSCEOLA FL TRANSPORTATION REVENUE        | CUSIP: 688031EE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $109694.30    | 0.01%             | 2025-10-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CITY & CNTY CTFS PARTN                                             | DENVER CO CITY & CNTY COPS CITY & COUNTY OF DENVER CO                             | CUSIP: 249183XX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1465000 | PA      | $1563662.77   | 0.09%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CITY & CNTY ARPT REV                                               | DENVER CITY & CNTY CO ARPT REV CITY & COUNTY OF DENVER CO AIRPORT SYSTEM REVENUE  | CUSIP: 249182LE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2132503.00   | 0.12%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH REV                                        | WISCONSIN ST HLTH & EDUCTNL FA WISCONSIN HEALTH & EDUCATIONAL FACILITIES AUTHORIT | CUSIP: 97712DD94<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1835000 | PA      | $1949836.69   | 0.11%             | 2034-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL WTR REV                                                            | CHICAGO IL WTRWKS REVENUE CITY OF CHICAGO IL WATERWORKS REVENUE                   | CUSIP: 167736P76<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5222968.50   | 0.30%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE-MECKLENBERG HOSP AUTH N C HEALTH CARE SYS REV                        | CHARLOTTE-MECKLENBURG NC HOSP CHARLOTTE-MECKLENBURG HOSPITAL AUTHORITY/THE        | CUSIP: 160853VD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5547755.50   | 0.32%             | 2049-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW ORLEANS LA AVIATION BRD REV                                                | NEW ORLEANS LA AVIATION BRD NEW ORLEANS AVIATION BOARD                            | CUSIP: 64763HFG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2146059.09   | 0.12%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH REV                                                  | COLORADO ST HLTH FACS AUTH REV COLORADO HEALTH FACILITIES AUTHORITY               | CUSIP: 19648FJZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2550000 | PA      | $2325208.58   | 0.13%             | 2039-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI ST GAMING TAX REV                                                  | MISSISSIPPI ST GAMING TAX REVE STATE OF MISSISSIPPI GAMING TAX REVENUE            | CUSIP: 605638AP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1048939.90   | 0.06%             | 2029-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS STUDENT HSG REV                                            | PUBLIC FIN AUTH WI STUDENT HSG PUBLIC FINANCE AUTHORITY                           | CUSIP: 74439YDA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $231075.32    | 0.01%             | 2027-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ECONOMIC DEV AUTH SOLID WASTE DISP FACS REV                      | WEST VIRGINIA ST ECON DEV AUTH WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY       | CUSIP: 95648VBM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2267623.59   | 0.13%             | 2042-12-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL WTR REV                                                            | CHICAGO IL WTRWKS REVENUE CITY OF CHICAGO IL WATERWORKS REVENUE                   | CUSIP: 167736B89<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023394.00   | 0.06%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH REV                                                        | INDIANA ST FIN AUTH REVENUE INDIANA FINANCE AUTHORITY                             | CUSIP: 45506DTP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2098841.20   | 0.12%             | 2035-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PHOENIX ARIZ CIVIC IMPT CORP ARPT REV                                          | PHOENIX AZ CIVIC IMPT CORP ARP CITY OF PHOENIX CIVIC IMPROVEMENT CORP             | CUSIP: 71883MJU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $629091.06    | 0.04%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH DULLES TOLL RD REV                            | MET WASHINGTON DC ARPTS AUTH D METROPOLITAN WASHINGTON AIRPORTS AUTHORITY DULLES  | CUSIP: 592643DB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $944818.20    | 0.05%             | 2038-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY INDL DEV AGY REV                                             | NEW YORK CITY NY INDL DEV AGY NEW YORK CITY INDUSTRIAL DEVELOPMENT AGENCY         | CUSIP: 64971PJY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $119733.15    | 0.01%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY ARIZ INDL DEV AUTH EXEMPT FACS REV                               | MARICOPA CNTY INDL DEV AUTH EX MARICOPA COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY   | CUSIP: 56678TAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    305000 | PA      | $243029.76    | 0.01%             | 2047-10-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| MASSACHUSETTS ST TRANSN FD REV                                                 | MASSACHUSETTS ST TRANSPRTN FUN COMMONWEALTH OF MASSACHUSETTS TRANSPORTATION FUND  | CUSIP: 57604TGF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1078304.75   | 0.06%             | 2037-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BIRMINGHAM ALA ARPT AUTH ARPT REV                                              | BIRMINGHAM AL ARPT AUTH ARPT R BIRMINGHAM AIRPORT AUTHORITY                       | CUSIP: 090888GH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $335812.23    | 0.02%             | 2024-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH REV                                        | WISCONSIN ST HLTH & EDUCTNL FA WISCONSIN HEALTH & EDUCATIONAL FACILITIES AUTHORIT | CUSIP: 97712DQK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3810000 | PA      | $4043844.47   | 0.23%             | 2030-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TWY AUTH GEN REV                                                   | NEW YORK ST THRUWAY AUTH NEW YORK STATE THRUWAY AUTHORITY                         | CUSIP: 650009ZV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2095000 | PA      | $2141856.56   | 0.12%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS HSG DEV AUTH REV                                                      | ILLINOIS ST HSG DEV AUTH REVEN ILLINOIS HOUSING DEVELOPMENT AUTHORITY             | CUSIP: 45201YM87<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1025000 | PA      | $1016309.03   | 0.06%             | 2046-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL WTR REV                                                            | CHICAGO IL WTRWKS REVENUE CITY OF CHICAGO IL WATERWORKS REVENUE                   | CUSIP: 167736C54<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1517515.95   | 0.09%             | 2034-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA FIN AUTH MIDWESTERN DISASTER AREA REV                                     | IOWA ST FIN AUTH MIDWSTRN DISA IOWA FINANCE AUTHORITY                             | CUSIP: 46246SAU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2515000 | PA      | $2374069.96   | 0.14%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OREGON ST FACS AUTH REV                                                        | OREGON ST FACS AUTH REVENUE OREGON STATE FACILITIES AUTHORITY                     | CUSIP: 68608JVA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1027323.90   | 0.06%             | 2024-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT VERDE FINL CORP GAS REV  ARIZ                                             | SALT VERDE AZ FINANCIAL CORP S SALT VERDE FINANCIAL CORP                          | CUSIP: 79575EAS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1033917.00   | 0.06%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTCHESTER TOBACCO ASSET SECURITIZATION CORP N Y TOBACCO SETTLEMENT ASSET BKD | WESTCHESTER NY TOBACCO ASSET S WESTCHESTER TOBACCO ASSET SECURITIZATION CORP      | CUSIP: 957480BK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2080688.40   | 0.12%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN CORP TEX RETIREMENT FAC REV                      | NEW HOPE CULTURAL ED FACS FIN NEW HOPE CULTURAL EDUCATION FACILITIES FINANCE COR  | CUSIP: 64542UFN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    385000 | PA      | $284146.67    | 0.02%             | 2055-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY-HOUSTON SPORTS AUTH TEX REV                                        | HARRIS CNTY-HOUSTON TX SPORTS HARRIS COUNTY-HOUSTON SPORTS AUTHORITY              | CUSIP: 413890EH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1126430.91   | 0.06%             | 2033-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST PUB BLDG AUTH PUB FACS REV                                         | VIRGINIA ST PUBLIC BLDG AUTH P VIRGINIA PUBLIC BUILDING AUTHORITY                 | CUSIP: 9281725S0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5500000 | PA      | $5605211.15   | 0.32%             | 2038-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST SPL TAX OBLIG REV                                               | CONNECTICUT ST SPL TAX OBLIG R STATE OF CONNECTICUT SPECIAL TAX REVENUE           | CUSIP: 207758ZT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1144189.20   | 0.07%             | 2031-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUB SVCS AUTH REV                                            | SOUTH CAROLINA ST PUBLIC SVC A SOUTH CAROLINA PUBLIC SERVICE AUTHORITY            | CUSIP: 837151WW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1989744.80   | 0.11%             | 2034-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MED CARE COMMN RETIREMENT FACS REV                              | NORTH CAROLINA ST MED CARE COM NORTH CAROLINA MEDICAL CARE COMMISSION             | CUSIP: 65820YSK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    830000 | PA      | $716052.62    | 0.04%             | 2041-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ST JOHNS CNTY FLA INDL DEV AUTH SR LIVING REV                                  | SAINT JOHNS CNTY FL INDL DEV A ST JOHNS COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY   | CUSIP: 79041LAP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    305000 | PA      | $225692.44    | 0.01%             | 2046-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST                                                                  | NEW JERSEY ST STATE OF NEW JERSEY                                                 | CUSIP: 646039YJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    890000 | PA      | $938650.52    | 0.05%             | 2025-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN PIER & EXPOSITION AUTH ILL REV                                    | MET PIER & EXPOSITION AUTH IL METROPOLITAN PIER & EXPOSITION AUTHORITY            | CUSIP: 592250EY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1605000 | PA      | $1358458.20   | 0.08%             | 2052-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ST JOHN BAPTIST PARISH LA REV                                                  | SAINT JOHN THE BAPTIST PARISH PARISH OF ST JOHN THE BAPTIST LA                    | CUSIP: 79020FAX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2658865.83   | 0.15%             | 2037-06-01      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY REV                                               | MASSACHUSETTS ST DEV FIN AGY R MASSACHUSETTS DEVELOPMENT FINANCE AGENCY           | CUSIP: 57584Y3E7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $333295.14    | 0.02%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS RETIREMENT FAC REV                                         | PUBLIC FIN AUTH WI RETMNT FAC PUBLIC FINANCE AUTHORITY                            | CUSIP: 74444VBH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $122572.90    | 0.01%             | 2027-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT COLUMBIA INCOME TAX REV                                               | DIST OF COLUMBIA INCOME TAX SE DISTRICT OF COLUMBIA                               | CUSIP: 25477GUT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4473446.00   | 0.26%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL TRAN AUTH SALES TAX RCPTS REV                                      | CHICAGO IL TRANSIT AUTH SALES CHICAGO TRANSIT AUTHORITY SALES TAX RECEIPTS FUND   | CUSIP: 16772PBU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1523432.85   | 0.09%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TEX SPL TAX REV                                                      | ARLINGTON TX SPL TAX REVENUE CITY OF ARLINGTON TX SPECIAL TAX REVENUE             | CUSIP: 04184RBC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2091807.40   | 0.12%             | 2030-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST DEPT WTR RES CENT VY PROJ REV                                    | CALIFORNIA ST DEPT OF WTR RESO STATE OF CALIFORNIA DEPARTMENT OF WATER RESOURCES  | CUSIP: 13067WKV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1905000 | PA      | $2003372.49   | 0.11%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH ARPT SYS REV                                  | MET WASHINGTON DC ARPTS AUTH A METROPOLITAN WASHINGTON AIRPORTS AUTHORITY AVIATIO | CUSIP: 592647EE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2128917.00   | 0.12%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY REV                                               | MASSACHUSETTS ST DEV FIN AGY R MASSACHUSETTS DEVELOPMENT FINANCE AGENCY           | CUSIP: 57584Y3F4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $281495.48    | 0.02%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HEALTH & EDL FACS AUTH HEALTH FACS REV                               | WISCONSIN ST HLTH & EDUCTNL FA WISCONSIN HEALTH & EDUCATIONAL FACILITIES AUTHORIT | CUSIP: 97670FBE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1701205.11   | 0.10%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS NEV CONVENTION & VISITORS AUTH REV                                   | LAS VEGAS NV NEW CONVENTION & LAS VEGAS CONVENTION & VISITORS AUTHORITY           | CUSIP: 517704GB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $540902.93    | 0.03%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LUZERNE CNTY PA INDL DEV AUTH REV                                              | LUZERNE CNTY PA INDL DEV AUTH LUZERNE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY     | CUSIP: 550728AF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2249582.25   | 0.13%             | 2039-12-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| WEST VA PKWYS AUTH TPK TOLL REV                                                | WEST VIRGINIA ST PARKWAYS AUTH WEST VIRGINIA PARKWAYS AUTHORITY                   | CUSIP: 956510AP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1510000 | PA      | $1654358.57   | 0.09%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL FLA EXPWY AUTH SR LIENREV                                              | CENTRL FL EXPRESSWAY AUTH SR L CENTRAL FLORIDA EXPRESSWAY AUTHORITY               | CUSIP: 153476GT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    770000 | PA      | $794209.26    | 0.05%             | 2034-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY COLO ENTERPRISE SYS REV                                             | UNIV OF COLORADO CO ENTERPRISE UNIVERSITY OF COLORADO                             | CUSIP: 91417NCZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    270000 | PA      | $261538.85    | 0.01%             | 2051-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| COLORADO DEPT TRANSN HEADQUARTERS FACS LEASE PUR AGREEMENT CTFS PARTN          | COLORADO ST DEPT OF TRANSPRTN STATE OF COLORADO DEPARTMENT OF TRANSPORTATION      | CUSIP: 19645TAN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $532270.40    | 0.03%             | 2031-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SACRAMENTO CNTY CALIF ARPT SYS REV                                             | SACRAMENTO CNTY CA ARPT SYS RE COUNTY OF SACRAMENTO CA AIRPORT SYSTEM REVENUE     | CUSIP: 786107QZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $547370.10    | 0.03%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST TOLL HWY AUTH TOLL HIGHWAY REV                                     | ILLINOIS ST TOLL HIGHWAY AUTH ILLINOIS STATE TOLL HIGHWAY AUTHORITY               | CUSIP: 452252PF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1315000 | PA      | $1471834.13   | 0.08%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH REV                                        | WISCONSIN ST HLTH & EDUCTNL FA WISCONSIN HEALTH & EDUCATIONAL FACILITIES AUTHORIT | CUSIP: 97712D3Y0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    470000 | PA      | $456865.19    | 0.03%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CITY & CNTY BRD WTR COMMRS WTR REV                                 | DENVER CITY & CNTY CO BRD OF W BOARD OF WATER COMMISSIONERS CITY & COUNTY OF DENV | CUSIP: 24916PJM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2345735.80   | 0.13%             | 2033-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER ALA GAS DIST GAS PROJ REV                                                | LOWER AL GAS DIST GAS PROJ REV LOWER ALABAMA GAS DISTRICT/THE                     | CUSIP: 547804AF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2098327.00   | 0.12%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS HOTEL REV                                                  | PUBLIC FIN AUTH WI HOTEL REVEN PUBLIC FINANCE AUTHORITY                           | CUSIP: 74447DAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1785000 | PA      | $1652166.55   | 0.09%             | 2052-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS RETIREMENT FAC REV                                         | PUBLIC FIN AUTH WI RETMNT FAC PUBLIC FINANCE AUTHORITY                            | CUSIP: 74444VBG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $296317.23    | 0.02%             | 2026-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MATCHING FD SPL PURP SECURITIZATION CORP VIRGIN IS                             | MATCHING FUND SPL PURPOSE SECU MATCHING FUND SPECIAL PURPOSE SECURITIZATION CORP  | CUSIP: 57665NAG0<br>LEI: N/A                  | Long             | DBT              | MUN               | VI        |   1065000 | PA      | $1071489.15   | 0.06%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST TOLL HWY AUTH TOLL HIGHWAY REV                                     | ILLINOIS ST TOLL HIGHWAY AUTH ILLINOIS STATE TOLL HIGHWAY AUTHORITY               | CUSIP: 452252LG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2111085.60   | 0.12%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                                | NEW JERSEY ST TRANSPRTN TRUST NEW JERSEY TRANSPORTATION TRUST FUND AUTHORITY      | CUSIP: 6461365V9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1348601.88   | 0.08%             | 2032-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWR REV                                              | PUERTO RICO ELEC PWR AUTH PWR PUERTO RICO ELECTRIC POWER AUTHORITY                | CUSIP: 74526QYY2<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   2990000 | PA      | $2212600.00   | 0.13%             | 2027-07-01      | Fixed         | 5.25%                 | No            |                  3 | On Loan: No      |
| CONNECTICUT ST                                                                 | CONNECTICUT ST STATE OF CONNECTICUT                                               | CUSIP: 20772KCH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2460000 | PA      | $2648714.23   | 0.15%             | 2026-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO MTG FIN AUTH                                                        | NEW MEXICO ST MTGE FIN AUTH NEW MEXICO MORTGAGE FINANCE AUTHORITY                 | CUSIP: 647201KP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    920000 | PA      | $907067.65    | 0.05%             | 2051-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA GAS SUPPLY REV                                         | MAIN STREET NATURAL GAS INC GA MAIN STREET NATURAL GAS INC                        | CUSIP: 56035DDQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $375009.90    | 0.02%             | 2023-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWR REV                                              | PUERTO RICO ELEC PWR AUTH PWR PUERTO RICO ELECTRIC POWER AUTHORITY                | CUSIP: 74526QVD1<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   3035000 | PA      | $2245900.00   | 0.13%             | 2033-07-01      | Fixed         | 5.25%                 | No            |                  3 | On Loan: No      |
| MONTGOMERY CNTY PA HIGHER ED & HEALTH AUTH REV                                 | MONTGOMERY CNTY PA HGR EDU & H MONTGOMERY COUNTY HIGHER EDUCATION AND HEALTH AUTH | CUSIP: 613603YQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2815000 | PA      | $3010663.89   | 0.17%             | 2033-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH REV                                                  | COLORADO ST HLTH FACS AUTH REV COLORADO HEALTH FACILITIES AUTHORITY               | CUSIP: 19648FRV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    205000 | PA      | $178422.86    | 0.01%             | 2040-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GUAM PWR AUTH REV                                                              | GUAM PWR AUTH REVENUE GUAM POWER AUTHORITY                                        | CUSIP: 400653JX0<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |   2000000 | PA      | $2131265.00   | 0.12%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORFOLK VA ECONOMIC DEV AUTH HOSP FACS REV                                     | NORFOLK VA ECON DEV AUTH HOSPF NORFOLK ECONOMIC DEVELOPMENT AUTHORITY             | CUSIP: 65588TAS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1035000 | PA      | $1131305.30   | 0.06%             | 2048-11-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUB SVCS AUTH REV                                            | SOUTH CAROLINA ST PUBLIC SVC A SOUTH CAROLINA PUBLIC SERVICE AUTHORITY            | CUSIP: 837151T33<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2727366.50   | 0.16%             | 2038-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CUYAHOGA CNTY OHIO HOSP REV                                                    | CUYAHOGA CNTY OH HOSP REVENUE COUNTY OF CUYAHOGA OH                               | CUSIP: 2322655P9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3069035.40   | 0.18%             | 2037-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SPARKS NEV TOURISM IMPT DIST NO 1 REV                                          | SPARKS NV TOURISM IMPT DIST #1 CITY OF SPARKS NV                                  | CUSIP: 846562AC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $125686.28    | 0.01%             | 2024-06-15      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| CHICAGO ILL WTR REV                                                            | CHICAGO IL WTRWKS REVENUE CITY OF CHICAGO IL WATERWORKS REVENUE                   | CUSIP: 167736F69<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1820000 | PA      | $1916167.71   | 0.11%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL FLA EXPWY AUTH SR LIENREV                                              | CENTRL FL EXPRESSWAY AUTH SR L CENTRAL FLORIDA EXPRESSWAY AUTHORITY               | CUSIP: 153476HK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1682417.10   | 0.10%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UPTOWN DEV AUTH TEX TAX INCREMENT CONTRACT REV                                 | UPTOWN DEV AUTH TX INCR CONTRA UPTOWN DEVELOPMENT AUTHORITY                       | CUSIP: 916856HL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $378590.40    | 0.02%             | 2033-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VOLUSIA CNTY FLA EDL FAC AUTH REV                                              | VOLUSIA CNTY FL EDUCTNL FAC AU VOLUSIA COUNTY EDUCATIONAL FACILITY AUTHORITY      | CUSIP: 928836MW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    755000 | PA      | $798419.14    | 0.05%             | 2026-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS RETIREMENT FAC REV                                         | PUBLIC FIN AUTH WI RETMNT FAC PUBLIC FINANCE AUTHORITY                            | CUSIP: 74444VBF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    285000 | PA      | $283105.15    | 0.02%             | 2025-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH TEX TWY AUTH REV                                                         | N TX TOLLWAY AUTH REVENUE NORTH TEXAS TOLLWAY AUTHORITY                           | CUSIP: 66285WSK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1410000 | PA      | $1492563.26   | 0.09%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EL PASO TEX                                                                    | EL PASO TX CITY OF EL PASO TX                                                     | CUSIP: 283734C82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2050000 | PA      | $2184994.76   | 0.12%             | 2034-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH REV                                                          | MICHIGAN ST FIN AUTH REVENUE MICHIGAN FINANCE AUTHORITY                           | CUSIP: 59447TFX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2565000 | PA      | $2644168.47   | 0.15%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSN DEV CORP SPL FAC REV                                           | NEW YORK ST TRANSPRTN DEV CORP NEW YORK TRANSPORTATION DEVELOPMENT CORP           | CUSIP: 650116EK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $132943.24    | 0.01%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV                                    | NEW YORK CITY NY TRANSITIONAL NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTUR  | CUSIP: 64971XT81<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    410000 | PA      | $409967.08    | 0.02%             | 2038-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GEORGIA ST                                                                     | GEORGIA ST STATE OF GEORGIA                                                       | CUSIP: 373384R73<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5142689.00   | 0.29%             | 2024-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CITY & CNTY ARPT REV                                               | DENVER CITY & CNTY CO ARPT REV CITY & COUNTY OF DENVER CO AIRPORT SYSTEM REVENUE  | CUSIP: 249182JY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1076561.00   | 0.06%             | 2031-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS HOTEL REV                                                  | PUBLIC FIN AUTH WI HOTEL REVEN PUBLIC FINANCE AUTHORITY                           | CUSIP: 74447DAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1475000 | PA      | $1420456.57   | 0.08%             | 2042-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS EDL FING AUTH ED LN REV                                          | MASSACHUSETTS ST EDUCTNL FING MASSACHUSETTS EDUCATIONAL FINANCING AUTHORITY       | CUSIP: 57563RQS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1865393.60   | 0.11%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH REV                                        | WISCONSIN ST HLTH & EDUCTNL FA WISCONSIN HEALTH & EDUCATIONAL FACILITIES AUTHORIT | CUSIP: 97712D4B9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1009836.74   | 0.06%             | 2039-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLIFTON TEX HIGHER ED FIN CORP ED REV                                          | CLIFTON TX HGR EDU FIN CORP ED CLIFTON HIGHER EDUCATION FINANCE CORP              | CUSIP: 187145HV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1043014.50   | 0.06%             | 2032-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FULTON CNTY GA DEV AUTH HOSP REV                                               | FULTON CNTY GA DEV AUTH HOSP DEVELOPMENT AUTHORITY FOR FULTON COUNTY              | CUSIP: 36005GAR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1045490.10   | 0.06%             | 2033-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST                                                                  | NEW JERSEY ST STATE OF NEW JERSEY                                                 | CUSIP: 646039YQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1059131.00   | 0.06%             | 2031-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIBERTY DEV CORP LIBERTY REV                                          | NEW YORK ST LIBERTY DEV CORP L NEW YORK LIBERTY DEVELOPMENT CORP                  | CUSIP: 649519EH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2170000 | PA      | $1596463.14   | 0.09%             | 2051-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL TEX REGL MOBILITY AUTH REV                                             | CENTRL TX REGL MOBILITY AUTH R CENTRAL TEXAS REGIONAL MOBILITY AUTHORITY          | CUSIP: 155498NG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    770000 | PA      | $766478.02    | 0.04%             | 2037-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MIAMI BEACH FLA REDEV AGY TAX INCREMENT REV                                    | MIAMI BEACH FL REDEV AGY MIAMI BEACH REDEVELOPMENT AGENCY                         | CUSIP: 593237FJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2553667.25   | 0.15%             | 2030-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS EDL FING AUTH ED LN REV                                          | MASSACHUSETTS ST EDUCTNL FING MASSACHUSETTS EDUCATIONAL FINANCING AUTHORITY       | CUSIP: 57563RPC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2596514.00   | 0.15%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSN AUTH N Y REV                                               | MET TRANSPRTN AUTH NY REVENUE METROPOLITAN TRANSPORTATION AUTHORITY               | CUSIP: 59261AJQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023055.50   | 0.06%             | 2030-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH ECONOMIC DEV REV                                         | ARIZONA ST INDL DEV AUTH ECON ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY            | CUSIP: 040523AF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3560000 | PA      | $2492000.00   | 0.14%             | 2050-07-01      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| City of New York                                                               | NEW YORK NY CITY OF NEW YORK NY                                                   | CUSIP: 64966QK90<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   6240000 | PA      | $6996480.82   | 0.40%             | 2041-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MED CARE COMMN RETIREMENT FACS REV                              | NORTH CAROLINA ST MED CARE COM NORTH CAROLINA MEDICAL CARE COMMISSION             | CUSIP: 65820YQH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    605000 | PA      | $605602.94    | 0.03%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND HEALTH & EDL BLDG CORP HIGHER ED FAC REV                          | RHODE ISLAND ST HLTH & EDUCTNL RHODE ISLAND HEALTH AND EDUCATIONAL BUILDING CORP  | CUSIP: 762197TJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1405000 | PA      | $1510137.41   | 0.09%             | 2028-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HEALTH & EDL FACS AUTH REV                                      | CONNECTICUT ST HLTH & EDUCTNL CONNECTICUT STATE HEALTH & EDUCATIONAL FACILITIES   | CUSIP: 20774Y2A4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $732653.74    | 0.04%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PIEDMONT MUN PWR AGY S C ELEC REV                                              | PIEDMONT SC MUNI PWR AGY ELEC PIEDMONT MUNICIPAL POWER AGENCY                     | CUSIP: 720175ZH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5125000 | PA      | $5195361.64   | 0.30%             | 2033-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA REDEV AUTH REV                                                 | PHILADELPHIA PA REDEV AUTH REDEVELOPMENT AUTHORITY OF THE CITY OF PHILADELPHI     | CUSIP: 717868FK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1307080.88   | 0.07%             | 2025-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COOK CNTY ILL                                                                  | COOK CNTY IL COUNTY OF COOK IL                                                    | CUSIP: 213185LY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $494793.18    | 0.03%             | 2033-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL O HARE INTL ARPT REV                                               | CHICAGO IL O'HARE INTERNATIONA CHICAGO O'HARE INTERNATIONAL AIRPORT               | CUSIP: 1675933B6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1890000 | PA      | $2041584.24   | 0.12%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TEX HOTEL OCCUPANCY TAX & SPL REV                                      | HOUSTON TX HOTEL OCCUPANCY TAX CITY OF HOUSTON TX HOTEL OCCUPANCY TAX & SPECIAL R | CUSIP: 44237NLH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $220102.08    | 0.01%             | 2025-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TEX ARPT SYS REV                                                   | SAN ANTONIO TX ARPT SYS REVENU CITY OF SAN ANTONIO TX AIRPORT SYSTEM              | CUSIP: 796242TY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1040000 | PA      | $1089497.45   | 0.06%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTILITY DEBT SECURITIZATION AUTH N Y                                           | UTILITY DEBT SECURITIZATION AU UTILITY DEBT SECURITIZATION AUTHORITY              | CUSIP: 91802RBN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1810000 | PA      | $1923229.80   | 0.11%             | 2033-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST                                                               | MASSACHUSETTS ST COMMONWEALTH OF MASSACHUSETTS                                    | CUSIP: 57582RVU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2740623.25   | 0.16%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSN AUTH N Y REV                                               | MET TRANSPRTN AUTH NY REVENUE METROPOLITAN TRANSPORTATION AUTHORITY               | CUSIP: 59261AQD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1438285.65   | 0.08%             | 2032-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TAMPA FLA CAP IMPT CIG TAX ALLOCATION                                          | TAMPA FL CAPITAL IMPT CIGARETT CITY OF TAMPA FL                                   | CUSIP: 875146AU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    305000 | PA      | $165723.95    | 0.01%             | 2036-09-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY REV                                               | MASSACHUSETTS ST DEV FIN AGY R MASSACHUSETTS DEVELOPMENT FINANCE AGENCY           | CUSIP: 57584YPF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $544441.26    | 0.03%             | 2049-07-01      | Floating      | 2.98%                 | Yes           |                  2 | On Loan: No      |
| CALIFORNIA STATEWIDE CMNTYS DEV AUTH REV                                       | CALIFORNIA STWD CMNTYS DEV AUT CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHO | CUSIP: 13080SBW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $121055.68    | 0.01%             | 2023-11-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| TEXAS TRANSN COMMN CENT TEX TPK SYS REV                                        | TEXAS ST TRANSPRTN COMMISSION CENTRAL TEXAS TURNPIKE SYSTEM                       | CUSIP: 88283KAY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1475000 | PA      | $1499138.38   | 0.09%             | 2037-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST                                                               | MASSACHUSETTS ST COMMONWEALTH OF MASSACHUSETTS                                    | CUSIP: 57582RXB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6500000 | PA      | $6814380.30   | 0.39%             | 2034-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NASSAU CNTY N Y LOC ECONOMIC ASSISTANCE CORP REV                               | NASSAU CNTY NY LOCAL ECON ASSI NASSAU COUNTY LOCAL ECONOMIC ASSISTANCE CORP       | CUSIP: 63166LCU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1024297.10   | 0.06%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| POMPANO BEACH FLA REV                                                          | POMPANO BEACH FL REVENUE CITY OF POMPANO BEACH FL                                 | CUSIP: 732203BL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $393963.89    | 0.02%             | 2027-01-01      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH STUDENT HSG & ACADEMIC FAC REV                               | ILLINOIS ST FIN AUTH STUDENT H ILLINOIS FINANCE AUTHORITY                         | CUSIP: 45203KAG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $199386.16    | 0.01%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHAMPAIGN CNTY ILL CMNTY UNIT SCH DIST NO 004                                  | CHAMPAIGN CNTY IL CMNTY UNIT S CHAMPAIGN COUNTY COMMUNITY UNIT SCHOOL DISTRICT NO | CUSIP: 158249MH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $303166.86    | 0.02%             | 2025-01-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| LOWER ALA GAS DIST GAS PROJ REV                                                | LOWER AL GAS DIST GAS PROJ REV LOWER ALABAMA GAS DISTRICT/THE                     | CUSIP: 547804AM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4982582.50   | 0.28%             | 2050-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VILLAGE CMNTY DEV DIST NO 14 FLA SPL ASSMT REV                                 | VLG FL CDD #14 SPL ASSMNT REVE VILLAGE COMMUNITY DEVELOPMENT DISTRICT NO 14       | CUSIP: 92708JAB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200275.14    | 0.01%             | 2032-05-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS NEV CONVENTION & VISITORS AUTH CONVENTION CTR EXPANSION REV          | LAS VEGAS NV CONVENTION & VISI LAS VEGAS CONVENTION & VISITORS AUTHORITY          | CUSIP: 51771FBG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2167698.20   | 0.12%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                                | NEW JERSEY ST TRANSPRTN TRUST NEW JERSEY TRANSPORTATION TRUST FUND AUTHORITY      | CUSIP: 6461362C4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2110472.00   | 0.12%             | 2028-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MINN HEALTH CARE SYS REV                                           | MINNEAPOLIS MN HLTH CARE SYS R CITY OF MINNEAPOLIS MN                             | CUSIP: 60374VEA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2845000 | PA      | $2999902.00   | 0.17%             | 2035-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA SCH DIST                                                       | PHILADELPHIA PA SCH DIST SCHOOL DISTRICT OF PHILADELPHIA/THE                      | CUSIP: 717883YN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2966119.80   | 0.17%             | 2038-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST AIR QUALITY DEV AUTH REV                                               | OHIO ST AIR QUALITY DEV AUTH OHIO AIR QUALITY DEVELOPMENT AUTHORITY               | CUSIP: 677525WU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    990000 | PA      | $991296.21    | 0.06%             | 2030-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VILLAGE CMNTY DEV DIST NO 13 FLA SPL ASSMT REV                                 | VLG FL CDD #13 SPL ASSMNT REVE VILLAGE COMMUNITY DEVELOPMENT DISTRICT NO 13       | CUSIP: 92708HAB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    965000 | PA      | $841774.42    | 0.05%             | 2029-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MUNICIPAL ELEC AUTH GA                                                         | MUNI ELEC AUTH OF GEORGIA MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA                 | CUSIP: 6262073R3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    555000 | PA      | $566281.54    | 0.03%             | 2024-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SEMINOLE CNTY FLA INDL DEV AUTH RETIREMENT FAC REV                             | SEMINOLE CNTY FL INDL DEV AUTH SEMINOLE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY   | CUSIP: 81669TAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3660000 | PA      | $3084364.35   | 0.18%             | 2039-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH REV                                               | NEW JERSEY ST ECON DEV AUTH RE NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY          | CUSIP: 64577BKT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3020000 | PA      | $3157375.27   | 0.18%             | 2026-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST SPL TAX OBLIG REV                                               | CONNECTICUT ST SPL TAX OBLIG R STATE OF CONNECTICUT SPECIAL TAX REVENUE           | CUSIP: 207758SM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2581049.75   | 0.15%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOVE FIELD ARPT MODERNIZATION CORP TEX GEN ARPT REV                            | LOVE FIELD TX ARPT MODERNIZATI LOVE FIELD AIRPORT MODERNIZATION CORP              | CUSIP: 54714CBG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1308564.13   | 0.07%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS EDL FING AUTH ED LN REV                                          | MASSACHUSETTS ST EDUCTNL FING MASSACHUSETTS EDUCATIONAL FINANCING AUTHORITY       | CUSIP: 57563RRK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    915000 | PA      | $971858.37    | 0.06%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTICA MICH CMNTY SCHS                                                          | UTICA MI CMNTY SCHS UTICA COMMUNITY SCHOOLS/MI                                    | CUSIP: 917661T42<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2632312.00   | 0.15%             | 2025-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL O HARE INTL ARPT REV                                               | CHICAGO IL O'HARE INTERNATIONA CHICAGO O'HARE INTERNATIONAL AIRPORT               | CUSIP: 167593U67<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    510000 | PA      | $562330.79    | 0.03%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TEX ELEC & GAS REV                                                 | SAN ANTONIO TX ELEC & GAS REVE CITY OF SAN ANTONIO TX ELECTRIC & GAS SYSTEMS REVE | CUSIP: 79625GEN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $418865.93    | 0.02%             | 2035-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST HSG & CMNTY DEV AUTH SINGLE FAMILY REV                              | INDIANA ST HSG & CMNTY DEV AUT INDIANA HOUSING & COMMUNITY DEVELOPMENT AUTHORITY  | CUSIP: 45505TWR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    790000 | PA      | $752340.62    | 0.04%             | 2052-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| HENRICO CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FAC REV                     | HENRICO CNTY VA ECON DEV AUTH HENRICO COUNTY ECONOMIC DEVELOPMENT AUTHORITY       | CUSIP: 42605QHM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1225000 | PA      | $1279265.05   | 0.07%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH REV                                        | WISCONSIN ST HLTH & EDUCTNL FA WISCONSIN HEALTH & EDUCATIONAL FACILITIES AUTHORIT | CUSIP: 97712D7R1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    705000 | PA      | $606827.83    | 0.03%             | 2041-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY-HOUSTON SPORTS AUTH TEX REV                                        | HARRIS CNTY-HOUSTON TX SPORTS HARRIS COUNTY-HOUSTON SPORTS AUTHORITY              | CUSIP: 413890DC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2575506.00   | 0.15%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                                    | ILLINOIS ST STATE OF ILLINOIS                                                     | CUSIP: 452152Q46<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1585000 | PA      | $1635520.45   | 0.09%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS & ST PAUL MINN MET ARPTS COMMN ARPT REV                            | MINNEAPOLIS-SAINT PAUL MN MET MINNEAPOLIS-ST PAUL METROPOLITAN AIRPORTS COMMISSI  | CUSIP: 603827K70<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    915000 | PA      | $871995.00    | 0.05%             | 2038-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OREGON ST FACS AUTH REV                                                        | OREGON ST FACS AUTH REVENUE OREGON STATE FACILITIES AUTHORITY                     | CUSIP: 68608JVM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2594008.50   | 0.15%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GDB DEBT RECOVERY AUTH OF COMWLTH PUERTO RICO                                  | GDB DEBT RECOVERY AUTH OF CMWL GDB DEBT RECOVERY AUTHORITY OF PUERTO RICO         | CUSIP: 36829QAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   1814062 | PA      | $1514741.77   | 0.09%             | 2040-08-20      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BUCKEYE OHIO TOB SETTLEMENT FING AUTH                                          | BUCKEYE OH TOBACCO SETTLEMENT BUCKEYE TOBACCO SETTLEMENT FINANCING AUTHORITY      | CUSIP: 118217DA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3035000 | PA      | $354773.90    | 0.02%             | 2057-06-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL PROJS FIN AUTH FLA STUDENT HSG REV                                     | CAPITAL PROJS FL FIN AUTH STUD CAPITAL PROJECTS FINANCE AUTHORITY/FL              | CUSIP: 140427BH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $372504.29    | 0.02%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CYPRESS-FAIRBANKS TEX INDPT SCH DIST                                           | CYPRESS-FAIRBANKS TX INDEP SCH CYPRESS-FAIRBANKS INDEPENDENT SCHOOL DISTRICT      | CUSIP: 232769EN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5500000 | PA      | $6169705.30   | 0.35%             | 2032-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST URBAN DEV CORP REV                                                 | NEW YORK ST URBAN DEV CORP REV NEW YORK STATE URBAN DEVELOPMENT CORP              | CUSIP: 650036DH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2315000 | PA      | $2226701.73   | 0.13%             | 2043-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GLENDALE ARIZ INDL DEV AUTH SR LIVING FACS REV                                 | GLENDALE AZ INDL DEV AUTH SENI GLENDALE INDUSTRIAL DEVELOPMENT AUTHORITY          | CUSIP: 378287AN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $454568.70    | 0.03%             | 2031-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST HEALTH & HIGHER EDL FACS AUTH REV                                  | MARYLAND ST HLTH & HGR EDUCTNL MARYLAND HEALTH & HIGHER EDUCATIONAL FACILITIES AU | CUSIP: 574218T29<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2097166.40   | 0.12%             | 2036-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ALLEN CNTY OHIO HOSP FACS REV                                                  | ALLEN CNTY OH HOSP FACS REVENU COUNTY OF ALLEN OH HOSPITAL FACILITIES REVENUE     | CUSIP: 01757LGT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $827945.93    | 0.05%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FLA TOURIST DEV TAX REV                                            | ORANGE CNTY FL TOURIST DEV TAX ORANGE COUNTY CONVENTION CENTER/ORLANDO            | CUSIP: 684545YR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    755000 | PA      | $798625.18    | 0.05%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH MIAMI FLA HEALTH FACS AUTH HOSP REV                                      | S MIAMI FL HLTH FACS AUTH CITY OF SOUTH MIAMI HEALTH FACILITIES AUTHORITY IN      | CUSIP: 838810DV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3210495.30   | 0.18%             | 2031-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MED CARE COMMN RETIREMENT FACS REV                              | NORTH CAROLINA ST MED CARE COM NORTH CAROLINA MEDICAL CARE COMMISSION             | CUSIP: 65820YQU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    285000 | PA      | $276276.15    | 0.02%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT SEATTLE WASH REV                                                          | PORT OF SEATTLE WA REVENUE PORT OF SEATTLE WA                                     | CUSIP: 735389N38<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003891.10   | 0.06%             | 2038-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ST LOUIS MO ARPT REV                                                           | SAINT LOUIS MO ARPT REVENUE CITY OF ST LOUIS MO AIRPORT REVENUE                   | CUSIP: 791638K40<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    595000 | PA      | $633762.94    | 0.04%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY MD                                                             | MONTGOMERY CNTY MD COUNTY OF MONTGOMERY MD                                        | CUSIP: 6133403M8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1625000 | PA      | $1699024.93   | 0.10%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY REV                                               | MASSACHUSETTS ST DEV FIN AGY R MASSACHUSETTS DEVELOPMENT FINANCE AGENCY           | CUSIP: 57584XZP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2965000 | PA      | $2997730.64   | 0.17%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI ST GAMING TAX REV                                                  | MISSISSIPPI ST GAMING TAX REVE STATE OF MISSISSIPPI GAMING TAX REVENUE            | CUSIP: 605638BH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $930771.34    | 0.05%             | 2030-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SANTA FE NEW MEXICO RETIREMENT FAC REV                                         | SANTA FE NM RETMNT FAC REVENUE CITY OF SANTA FE NM                                | CUSIP: 802170AM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $603817.89    | 0.03%             | 2034-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HENRY CNTY GA HOSP AUTH REV                                                    | HENRY CNTY GA HOSP AUTH D/B/A HENRY COUNTY HOSPITAL AUTHORITY                     | CUSIP: 426357GG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1390000 | PA      | $1430426.62   | 0.08%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MUNICIPAL ELEC AUTH GA                                                         | MUNI ELEC AUTH OF GEORGIA MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA                 | CUSIP: 626207Y65<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1587350.10   | 0.09%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF DEPT ARPTS REV                                               | LOS ANGELES CA DEPT OF ARPTS A CITY OF LOS ANGELES DEPARTMENT OF AIRPORTS         | CUSIP: 544445SN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    535000 | PA      | $583990.16    | 0.03%             | 2033-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HSG FIN AGY SINGLE FAMILY MTG REV                                 | PENNSYLVANIA ST HSG FIN AGY SF PENNSYLVANIA HOUSING FINANCE AGENCY                | CUSIP: 70879QLX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1885000 | PA      | $1837144.19   | 0.10%             | 2051-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| TSASC INC N Y                                                                  | TSASC INC NY TSASC INC/NY                                                         | CUSIP: 898526ET1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1037366.40   | 0.06%             | 2025-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEMPE ARIZ INDL DEV AUTH REV                                                   | TEMPE AZ INDL DEV AUTH REVENUE TEMPE INDUSTRIAL DEVELOPMENT AUTHORITY             | CUSIP: 87972MAW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1094349.72   | 0.06%             | 2037-10-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| PENNSYLVANIA ST TPK COMMN TPK REV                                              | PENNSYLVANIA ST TURNPIKE COMMI PENNSYLVANIA TURNPIKE COMMISSION                   | CUSIP: 709224B24<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1077881.10   | 0.06%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH REV                                               | NEW JERSEY ST ECON DEV AUTH RE NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY          | CUSIP: 64577B4K7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1225000 | PA      | $1249552.31   | 0.07%             | 2037-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA SCH DIST                                                       | PHILADELPHIA PA SCH DIST SCHOOL DISTRICT OF PHILADELPHIA/THE                      | CUSIP: 717883VD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2133734.80   | 0.12%             | 2036-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL BRD ED                                                             | CHICAGO IL BRD OF EDU CHICAGO BOARD OF EDUCATION                                  | CUSIP: 167505WB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    640000 | PA      | $600630.85    | 0.03%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JEA FLA WTR & SWR SYS REV                                                      | JEA FL WTR & SWR REVENUE JEA WATER & SEWER SYSTEM REVENUE                         | CUSIP: 46615SDH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1111581.60   | 0.06%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MEDFORD ORE HOSP FACS AUTH REV                                                 | MEDFORD OR HOSP FACS AUTH REVE MEDFORD HOSPITAL FACILITIES AUTHORITY              | CUSIP: 584283GS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1083430.80   | 0.06%             | 2034-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CITY & CNTY ARPT REV                                               | DENVER CITY & CNTY CO ARPT REV CITY & COUNTY OF DENVER CO AIRPORT SYSTEM REVENUE  | CUSIP: 249182JA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2044530.60   | 0.12%             | 2026-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CENTRAL TEX REGL MOBILITY AUTH REV                                             | CENTRL TX REGL MOBILITY AUTH R CENTRAL TEXAS REGIONAL MOBILITY AUTHORITY          | CUSIP: 155498LQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $216540.20    | 0.01%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TARRANT CNTY TEX CULTURAL ED FACS FIN CORP REV                                 | TARRANT CNTY TX CULTURAL EDU F TARRANT COUNTY CULTURAL EDUCATION FACILITIES FINAN | CUSIP: 87638THC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2180309.60   | 0.12%             | 2053-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                                    | ILLINOIS ST STATE OF ILLINOIS                                                     | CUSIP: 452153DA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    670000 | PA      | $705953.34    | 0.04%             | 2042-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY REV                                               | MASSACHUSETTS ST DEV FIN AGY R MASSACHUSETTS DEVELOPMENT FINANCE AGENCY           | CUSIP: 57584XM65<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $154779.80    | 0.01%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOB SECURITIZATION AUTH NORTHN CALIF TOB SETTLEMENT REV                        | TOBACCO SECURITIZATION AUTH NT TOBACCO SECURITIZATION AUTHORITY OF NORTHERN CALIF | CUSIP: 888794BZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1615000 | PA      | $1602888.15   | 0.09%             | 2049-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW ORLEANS LA AVIATION BRD REV                                                | NEW ORLEANS LA AVIATION BRD NEW ORLEANS AVIATION BOARD                            | CUSIP: 64763HFF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2147813.64   | 0.12%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS SPORTS FACS AUTH                                                      | ILLINOIS ST SPORTS FACS AUTH ILLINOIS SPORTS FACILITIES AUTHORITY/THE             | CUSIP: 452143FN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1581485.70   | 0.09%             | 2029-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP SALES TAX REV                                  | PUERTO RICO SALES TAX FING COR PUERTO RICO SALES TAX FINANCING CORP SALES TAX REV | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |  14830000 | PA      | $3718994.73   | 0.21%             | 2046-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HEALTH FACS FING AUTH REV                                           | CALIFORNIA ST HLTH FACS FING A CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY   | CUSIP: 13032UMR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3225000 | PA      | $3584342.72   | 0.20%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO HEALTH FACS AUTH REV                                                     | IDAHO ST HLTH FACS AUTH REVENU IDAHO HEALTH FACILITIES AUTHORITY                  | CUSIP: 451295B73<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $556615.30    | 0.03%             | 2030-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                                    | ILLINOIS ST STATE OF ILLINOIS                                                     | CUSIP: 4521526F3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    165000 | PA      | $166398.57    | 0.01%             | 2023-05-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| HOUSTON TEX ARPT SYS REV                                                       | HOUSTON TX ARPT SYS REVENUE CITY OF HOUSTON TX AIRPORT SYSTEM REVENUE             | CUSIP: 442349CH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1584405.30   | 0.09%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUCKS CNTY PA INDL DEV AUTH REV                                                | BUCKS CNTY PA INDL DEV AUTH BUCKS COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY         | CUSIP: 118612MB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2055766.20   | 0.12%             | 2036-03-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| SAN JOAQUIN HILLS CALIF TRANSN CORRIDOR AGY TOLL RD REV                        | SAN JOAQUIN HILLS CA TRANSPRTN SAN JOAQUIN HILLS TRANSPORTATION CORRIDOR AGENCY   | CUSIP: 798111GS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    815000 | PA      | $893465.10    | 0.05%             | 2033-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST PORT AUTH REV                                                 | MASSACHUSETTS ST PORT AUTH MASSACHUSETTS PORT AUTHORITY                           | CUSIP: 575896SE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1855000 | PA      | $1968857.49   | 0.11%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITIZENS PPTY INS CORP FLA                                                     | CITIZENS PROPERTY INSURANCE CO CITIZENS PROPERTY INSURANCE INC                    | CUSIP: 176553HB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  15000000 | PA      | $15592611.00  | 0.89%             | 2025-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH STUDENT HSG & ACADEMIC FAC REV                               | ILLINOIS ST FIN AUTH STUDENT H ILLINOIS FINANCE AUTHORITY                         | CUSIP: 45203KAF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $499962.75    | 0.03%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO DEPT TRANSN HEADQUARTERS FACS LEASE PUR AGREEMENT CTFS PARTN          | COLORADO ST DEPT OF TRANSPRTN STATE OF COLORADO DEPARTMENT OF TRANSPORTATION      | CUSIP: 19645TAM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $372831.17    | 0.02%             | 2030-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| YAVAPAI CNTY ARIZ INDL DEV AUTH HOSP FAC REV                                   | YAVAPAI CNTY AZ INDL DEV AUTH INDUSTRIAL DEVELOPMENT AUTHORITY OF THE COUNTY OF   | CUSIP: 985900DH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011700.00   | 0.06%             | 2033-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL O HARE INTL ARPT REV                                               | CHICAGO IL O'HARE INTERNATIONA CHICAGO O'HARE INTERNATIONAL AIRPORT               | CUSIP: 1675932C5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1040000 | PA      | $1102140.62   | 0.06%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STOCKTON CALIF REDEV AGY SUCCESSOR AGY TAX ALLOCATION                          | STOCKTON CA REDEV AGY SUCCESSO STOCKTON REDEVELOPMENT AGENCY SUCCESSOR AGENCY     | CUSIP: 861403AG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1875095.43   | 0.11%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REGIONAL TRANSN DIST COLO PRIVATE ACTIVITY REV                                 | REGL CO TRANSPRTN DIST PRIV AC REGIONAL TRANSPORTATION DISTRICT                   | CUSIP: 759151BM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $171105.20    | 0.01%             | 2032-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL BRD ED DEDICATED CAP IMPT                                          | CHICAGO IL BRD OF EDU DEDICATE CHICAGO BOARD OF EDUCATION                         | CUSIP: 167510AG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    620000 | PA      | $631118.71    | 0.04%             | 2034-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST DEPT TRANSN CONS TRANSN                                            | MARYLAND ST DEPT OF TRANSPRTN STATE OF MARYLAND DEPARTMENT OF TRANSPORTATION      | CUSIP: 574204N82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1571183.55   | 0.09%             | 2032-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH REV                                          | VIRGINIA ST SMALL BUSINESS FIN VIRGINIA SMALL BUSINESS FINANCING AUTHORITY        | CUSIP: 928104NK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $362180.16    | 0.02%             | 2031-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZATION CORP ILL                                              | SALES TAX SECURITIZATION CORP SALES TAX SECURITIZATION CORP                       | CUSIP: 79467BCS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2128395.00   | 0.12%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST                                                                  | WASHINGTON ST STATE OF WASHINGTON                                                 | CUSIP: 93974EWF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4645438.20   | 0.26%             | 2036-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PRINCE GEORGES CNTY MD REV                                                     | PRINCE GEORGES CNTY MD REVENUE COUNTY OF PRINCE GEORGE'S MD                       | CUSIP: 741724CA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1885219.20   | 0.11%             | 2031-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST EDL FACS AUTH REV                                                | NEW JERSEY ST EDUCTNL FACS AUT NEW JERSEY EDUCATIONAL FACILITIES AUTHORITY        | CUSIP: 6460667B0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $123938.32    | 0.01%             | 2050-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA SCH DIST                                                       | PHILADELPHIA PA SCH DIST SCHOOL DISTRICT OF PHILADELPHIA/THE                      | CUSIP: 717883UX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1087255.10   | 0.06%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST HIGHER EDL FAC COMMN  REV                                              | OHIO ST HGR EDUCTNL FAC COMMIS OHIO HIGHER EDUCATIONAL FACILITY COMMISSION        | CUSIP: 67756DC53<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    680000 | PA      | $726797.94    | 0.04%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN PIER & EXPOSITION AUTH ILL REV                                    | MET PIER & EXPOSITION AUTH IL METROPOLITAN PIER & EXPOSITION AUTHORITY            | CUSIP: 592250EX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4265000 | PA      | $3694213.34   | 0.21%             | 2047-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                                    | ILLINOIS ST STATE OF ILLINOIS                                                     | CUSIP: 4521527B1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $199001.74    | 0.01%             | 2037-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIBERTY DEV CORP LIBERTY REV                                          | NEW YORK ST LIBERTY DEV CORP L NEW YORK LIBERTY DEVELOPMENT CORP                  | CUSIP: 649519DK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1355000 | PA      | $1125950.26   | 0.06%             | 2028-11-15      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMN NONPROFIT HSG REV                                  | WASHINGTON ST HSG FIN COMMISSI WASHINGTON STATE HOUSING FINANCE COMMISSION        | CUSIP: 939783YX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    745000 | PA      | $667996.73    | 0.04%             | 2034-01-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| HOUSTON TEX ARPT SYS REV                                                       | HOUSTON TX ARPT SYS REVENUE CITY OF HOUSTON TX AIRPORT SYSTEM REVENUE             | CUSIP: 442349BG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3685000 | PA      | $4051864.23   | 0.23%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UPTOWN DEV AUTH TEX TAX INCREMENT CONTRACT REV                                 | UPTOWN DEV AUTH TX INCR CONTRA UPTOWN DEVELOPMENT AUTHORITY                       | CUSIP: 916856HN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $255212.82    | 0.01%             | 2035-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH REV                                                          | MICHIGAN ST FIN AUTH REVENUE MICHIGAN FINANCE AUTHORITY                           | CUSIP: 59447TUJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1335861.30   | 0.08%             | 2050-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HEALTH & EDL FACS AUTH REV                                      | CONNECTICUT ST HLTH & EDUCTNL CONNECTICUT STATE HEALTH & EDUCATIONAL FACILITIES   | CUSIP: 20774YZ83<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $951620.85    | 0.05%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS STUDENT HSG REV                                            | PUBLIC FIN AUTH WI STUDENT HSG PUBLIC FINANCE AUTHORITY                           | CUSIP: 74439YDC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $230124.71    | 0.01%             | 2029-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PORT SEATTLE WASH REV                                                          | PORT OF SEATTLE WA REVENUE PORT OF SEATTLE WA                                     | CUSIP: 735389WL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1539713.55   | 0.09%             | 2032-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                            | CALIFORNIA ST STATE OF CALIFORNIA                                                 | CUSIP: 13063C5W6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3880000 | PA      | $4214084.68   | 0.24%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOVE FIELD ARPT MODERNIZATION CORP TEX GEN ARPT REV                            | LOVE FIELD TX ARPT MODERNIZATI LOVE FIELD AIRPORT MODERNIZATION CORP              | CUSIP: 54714CBJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1221066.93   | 0.07%             | 2033-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CELEBRATION POINTE CMNTY DEV DIST NO 1 FLA SPL ASSMT REV                       | CELEBRATION POINTE CMNTY DEV D CELEBRATION POINTE COMMUNITY DEVELOPMENT DISTRICT  | CUSIP: 15102HAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $135836.73    | 0.01%             | 2024-05-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES WTR AUTH MICH WTR SUPPLY SYS REV                                   | GREAT LAKES MI WTR AUTH WTR SPLY SYS REVENUE 5.00% 07/01/2036                     | CUSIP: 39081JBE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5243693.00   | 0.30%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV                     | GOLDEN ST TOBACCO SECURITIZATI GOLDEN STATE TOBACCO SECURITIZATION CORP           | CUSIP: 38122NZR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4960000 | PA      | $5582322.77   | 0.32%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CONVENTION CTR HOTEL AUTH REV                                      | DENVER CO CONVENTION CENTER HO DENVER CONVENTION CENTER HOTEL AUTHORITY           | CUSIP: 249189DH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $409716.08    | 0.02%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY HEALTH CARE FACS FING AUTH REV                                      | NEW JERSEY ST HLTH CARE FACS F NEW JERSEY HEALTH CARE FACILITIES FINANCING AUTHOR | CUSIP: 645790LM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2331060.30   | 0.13%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY WIS HOSPS & CLINICS AUTH REV                                        | UNIV HOSPS & CLINICS AUTH WI UNIVERSITY OF WISCONSIN HOSPITALS & CLINICS          | CUSIP: 915260EN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $499833.45    | 0.03%             | 2037-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON D C MET AREA TRAN AUTH DEDICATED REV                                | WASHINGTON DC MET AREA TRANSIT WASHINGTON METROPOLITAN AREA TRANSIT AUTHORITY DED | CUSIP: 93878YBN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3029148.30   | 0.17%             | 2039-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TEXAS MUN GAS ACQUISITION & SUPPLY CORP I GAS SUPPLY REV                       | TEXAS ST MUNI GAS ACQUISITION TEXAS MUNICIPAL GAS ACQUISITION AND SUPPLY CORP I   | CUSIP: 88256CEX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $940355.10    | 0.05%             | 2026-12-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MILWAUKEE CNTY WIS ARPT REV                                                    | MILWAUKEE CNTY WI ARPT REVENUE COUNTY OF MILWAUKEE WI AIRPORT REVENUE             | CUSIP: 602248KN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $528630.75    | 0.03%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER CNTY PA HOSP AUTH REV                                                | LANCASTER CNTY PA HOSP AUTH LANCASTER COUNTY HOSPITAL AUTHORITY/PA                | CUSIP: 514045W58<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2044708.60   | 0.12%             | 2046-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUB SVCS AUTH REV                                            | SOUTH CAROLINA ST PUBLIC SVC A SOUTH CAROLINA PUBLIC SERVICE AUTHORITY            | CUSIP: 837151WT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    540000 | PA      | $589155.12    | 0.03%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INLAND EMPIRE TOBACCO SECURIZATION AUTH CALIF TOB                              | INLAND EMPIRE CA TOBACCO SECUR INLAND EMPIRE TOBACCO SECURITIZATION CORP          | CUSIP: 45734TAG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  77400000 | PA      | $4226032.26   | 0.24%             | 2057-06-01      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| ILLINOIS MUN ELEC AGY PWR SUPPLY SYS REV                                       | ILLINOIS ST MUNI ELEC AGY PWR ILLINOIS MUNICIPAL ELECTRIC AGENCY                  | CUSIP: 452024JA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5252014.00   | 0.30%             | 2032-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX ARIZ INDL DEV AUTH STUDENT HSG REV                                     | PHOENIX AZ INDL DEV AUTH STUDE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF PH | CUSIP: 71885DCX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $117862.61    | 0.01%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUB FACS AUTH REV                                                    | LOUISIANA PUB FACS AUTH REVENU LOUISIANA PUBLIC FACILITIES AUTHORITY              | CUSIP: 546399PG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $384963.56    | 0.02%             | 2037-06-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| NEW YORK TRANSN DEV CORP SPL FAC REV                                           | NEW YORK ST TRANSPRTN DEV CORP NEW YORK TRANSPORTATION DEVELOPMENT CORP           | CUSIP: 650116CN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4030813.20   | 0.23%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH ST PERS INCOME TAX REV                                   | NEW YORK ST DORM AUTH ST PERSO NEW YORK STATE DORMITORY AUTHORITY                 | CUSIP: 64990FL36<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1248750.15   | 0.07%             | 2041-03-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH REV                                               | NEW JERSEY ST ECON DEV AUTH RE NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY          | CUSIP: 64577BKL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3151004.70   | 0.18%             | 2027-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSN AUTH N Y REV                                               | MET TRANSPRTN AUTH NY REVENUE METROPOLITAN TRANSPORTATION AUTHORITY               | CUSIP: 59261AE78<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1920000 | PA      | $1925400.96   | 0.11%             | 2023-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                            | CALIFORNIA ST STATE OF CALIFORNIA                                                 | CUSIP: 13063CUT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2659099.75   | 0.15%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY TRANSITIONAL FIN AUTH BLDG AID REV                           | NEW YORK CITY NY TRANSITIONAL NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY BUILD  | CUSIP: 64972H3C4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1799161.49   | 0.10%             | 2035-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TEX HOTEL OCCUPANCY TAX & SPL REV                                      | HOUSTON TX HOTEL OCCUPANCY TAX CITY OF HOUSTON TX HOTEL OCCUPANCY TAX & SPECIAL R | CUSIP: 44237NLJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $165371.31    | 0.01%             | 2026-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                            | CALIFORNIA ST STATE OF CALIFORNIA                                                 | CUSIP: 13063DS90<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $566923.35    | 0.03%             | 2047-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                                    | ILLINOIS ST STATE OF ILLINOIS                                                     | CUSIP: 452152VJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    935000 | PA      | $946854.49    | 0.05%             | 2032-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GEORGETOWN TEX UTIL SYS REV                                                    | GEORGETOWN TX UTILITY SYS REVE CITY OF GEORGETOWN TX UTILITY SYSTEM REVENUE       | CUSIP: 373064P81<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1705000 | PA      | $1874852.78   | 0.11%             | 2037-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HEALTH & EDL FACS AUTH HEALTH FACS REV                             | MISSOURI ST HLTH & EDUCTNL FAC HEALTH & EDUCATIONAL FACILITIES AUTHORITY OF THE S | CUSIP: 60637AVQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    720000 | PA      | $814997.95    | 0.05%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH REV                                        | WISCONSIN ST HLTH & EDUCTNL FA WISCONSIN HEALTH & EDUCATIONAL FACILITIES AUTHORIT | CUSIP: 97712JEC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    665000 | PA      | $554253.69    | 0.03%             | 2037-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV                                    | NEW YORK CITY NY TRANSITIONAL NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTUR  | CUSIP: 64971XWA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    185000 | PA      | $187746.23    | 0.01%             | 2035-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL MET WTR RECLAMATION DIST GTR CHICAGO                               | CHICAGO IL MET WTR RECLAMATION METROPOLITAN WATER RECLAMATION DISTRICT OF GREATER | CUSIP: 167560TA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3275000 | PA      | $3500384.19   | 0.20%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT COLUMBIA                                                              | DIST OF COLUMBIA DISTRICT OF COLUMBIA                                             | CUSIP: 25476FSX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2698375.75   | 0.15%             | 2033-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA PUB FIN AUTH REV                                                    | CALIFORNIA PUBLIC FIN AUTH REV CALIFORNIA PUBLIC FINANCE AUTHORITY                | CUSIP: 13057EFF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    370000 | PA      | $375603.91    | 0.02%             | 2036-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| APPLE VY MINN SR LIVING REV                                                    | APPLE VLY MN SENIOR LIVING REV CITY OF APPLE VALLEY MN                            | CUSIP: 03789YCK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1320000 | PA      | $1248785.08   | 0.07%             | 2029-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL MIDWAY ARPT REV                                                    | CHICAGO IL MIDWAY ARPT REVENUE CHICAGO MIDWAY INTERNATIONAL AIRPORT               | CUSIP: 167562NR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2970000 | PA      | $3006558.62   | 0.17%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA MUN PWR AGY PWR SUPPLY SYS REV                                         | INDIANA ST MUNI PWR AGY INDIANA MUNICIPAL POWER AGENCY                            | CUSIP: 454898VK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2182305.40   | 0.12%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUCKEYE OHIO TOB SETTLEMENT FING AUTH                                          | BUCKEYE OH TOBACCO SETTLEMENT BUCKEYE TOBACCO SETTLEMENT FINANCING AUTHORITY      | CUSIP: 118217CN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4325000 | PA      | $4624469.49   | 0.26%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CITY & CNTY ARPT REV                                               | DENVER CITY & CNTY CO ARPT REV CITY & COUNTY OF DENVER CO AIRPORT SYSTEM REVENUE  | CUSIP: 249182KQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1330412.38   | 0.08%             | 2030-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH REV                                                          | ILLINOIS ST FIN AUTH REVENUE ILLINOIS FINANCE AUTHORITY                           | CUSIP: 45204FME2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $900000.00    | 0.05%             | 2055-07-15      | Floating      | 0.97%                 | No            |                  2 | On Loan: No      |
| ESCAMBIA CNTY FLA HEALTH FACS AUTH HEALTH FAC REV                              | ESCAMBIA CNTY FL HLTH FACS AUT ESCAMBIA COUNTY HEALTH FACILITIES AUTHORITY        | CUSIP: 296110GD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    640000 | PA      | $557557.18    | 0.03%             | 2045-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PIEDMONT MUN PWR AGY S C ELEC REV                                              | PIEDMONT SC MUNI PWR AGY ELEC PIEDMONT MUNICIPAL POWER AGENCY                     | CUSIP: 720175A65<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    385000 | PA      | $399930.65    | 0.02%             | 2025-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOVE FIELD ARPT MODERNIZATION CORP TEX GEN ARPT REV                            | LOVE FIELD TX ARPT MODERNIZATI LOVE FIELD AIRPORT MODERNIZATION CORP              | CUSIP: 54714CBH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2608850.00   | 0.15%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COOK CNTY ILL SALES TAX REV                                                    | COOK CNTY IL SALES TAX REVENUE COUNTY OF COOK IL SALES TAX REVENUE                | CUSIP: 213248CF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    560000 | PA      | $621389.78    | 0.04%             | 2031-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA JOBS-ECONOMIC DEV AUTH HOSP FACS REV                            | SOUTH CAROLINA ST JOBS-ECON DE SOUTH CAROLINA JOBS-ECONOMIC DEVELOPMENT AUTHORITY | CUSIP: 83703EMS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1460000 | PA      | $1610750.11   | 0.09%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENNERGY CORP TENN GAS REV                                                     | TENNERGY CORP TN GAS REVENUE TENNERGY CORP/TN                                     | CUSIP: 880397BW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2449629.25   | 0.14%             | 2051-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                                    | ILLINOIS ST STATE OF ILLINOIS                                                     | CUSIP: 4521525Q0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2800000 | PA      | $2635081.40   | 0.15%             | 2035-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP SALES TAX REV                                  | PUERTO RICO SALES TAX FING COR PUERTO RICO SALES TAX FINANCING CORP SALES TAX REV | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   1000000 | PA      | $911204.40    | 0.05%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CALIF ASSN GOVTS CAP GRNT RCPTS REV                                  | SAN DIEGO ASSN OF GOVTS CA CAP SAN DIEGO ASSOCIATION OF GOVERNMENTS               | CUSIP: 797258AC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3135207.90   | 0.18%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA SCH DIST                                                       | PHILADELPHIA PA SCH DIST SCHOOL DISTRICT OF PHILADELPHIA/THE                      | CUSIP: 717883TD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3390000 | PA      | $3609087.56   | 0.21%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA GAS SUPPLY REV                                         | MAIN STREET NATURAL GAS INC GA MAIN STREET NATURAL GAS INC                        | CUSIP: 56035DCR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6640000 | PA      | $6559015.24   | 0.37%             | 2050-03-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV                     | GOLDEN ST TOBACCO SECURITIZATI GOLDEN STATE TOBACCO SECURITIZATION CORP           | CUSIP: 38122NZB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2875000 | PA      | $3166340.71   | 0.18%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DALLAS FORT WORTH TEX INTL ARPT REV                                            | DALLAS-FORT WORTH TX INTERNATI DALLAS FORT WORTH INTERNATIONAL AIRPORT            | CUSIP: 2350364Z0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $259912.50    | 0.01%             | 2024-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH REV                                        | WISCONSIN ST HLTH & EDUCTNL FA WISCONSIN HEALTH & EDUCATIONAL FACILITIES AUTHORIT | CUSIP: 97712JEG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1084398.64   | 0.06%             | 2054-08-15      | Floating      | 1.97%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA SCH DIST                                                       | PHILADELPHIA PA SCH DIST SCHOOL DISTRICT OF PHILADELPHIA/THE                      | CUSIP: 717883WB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5055521.00   | 0.29%             | 2035-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BROWARD CNTY FLA SCH DIST                                                      | BROWARD CNTY FL SCH DIST SCHOOL DISTRICT OF BROWARD COUNTY/FL                     | CUSIP: 115067HT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2885000 | PA      | $3164008.06   | 0.18%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL                                                                    | CHICAGO IL CITY OF CHICAGO IL                                                     | CUSIP: 167486SQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1210000 | PA      | $1218388.93   | 0.07%             | 2029-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FLA EDL FACS AUTH REV                                          | MIAMI-DADE CNTY FL EDUCTNL FAC MIAMI-DADE COUNTY EDUCATIONAL FACILITIES AUTHORITY | CUSIP: 59333ALT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    430000 | PA      | $445712.20    | 0.03%             | 2030-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REGIONAL TRANSN AUTH ILL                                                       | REGL TRANSPRTN AUTH IL REGIONAL TRANSPORTATION AUTHORITY                          | CUSIP: 759911PX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1760215.80   | 0.10%             | 2030-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GLENDALE ARIZ INDL DEV AUTH SR LIVING FACS REV                                 | GLENDALE AZ INDL DEV AUTH SENI GLENDALE INDUSTRIAL DEVELOPMENT AUTHORITY          | CUSIP: 378287AZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $469578.25    | 0.03%             | 2041-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX ARIZ INDL DEV AUTH HEALTH CARE FACS REV                                | PHOENIX AZ INDL DEV AUTH HLTHC INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF PH | CUSIP: 71884SAC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $700000.00    | 0.04%             | 2052-11-15      | Floating      | 0.97%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                                    | ILLINOIS ST STATE OF ILLINOIS                                                     | CUSIP: 4521526V8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    810000 | PA      | $857646.31    | 0.05%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SACRAMENTO CNTY CALIF ARPT SYS REV                                             | SACRAMENTO CNTY CA ARPT SYS RE COUNTY OF SACRAMENTO CA AIRPORT SYSTEM REVENUE     | CUSIP: 786107SW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1094740.20   | 0.06%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTH N Y & N J                                                            | PORT AUTH OF NEW YORK & NEW JE PORT AUTHORITY OF NEW YORK & NEW JERSEY            | CUSIP: 73358XGH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    605000 | PA      | $631716.38    | 0.04%             | 2039-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS HEALTHCARE FACS REV                                        | PUBLIC FIN AUTH WI HLTHCARE FA PUBLIC FINANCE AUTHORITY                           | CUSIP: 74444KBV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $333232.41    | 0.02%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY WIS HOSPS & CLINICS AUTH REV                                        | UNIV HOSPS & CLINICS AUTH WI UNIVERSITY OF WISCONSIN HOSPITALS & CLINICS          | CUSIP: 915260EQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    295000 | PA      | $292107.50    | 0.02%             | 2039-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KANSAS CITY MO SAN SWR SYS REV                                                 | KANSAS CITY MO SAN SWR SYSTEM CITY OF KANSAS CITY MO SANITARY SEWER SYSTEM REVEN  | CUSIP: 48507THD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1103034.70   | 0.06%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                                  | MASSACHUSETTS ST EDUCTNL FING MASSACHUSETTS EDUCATIONAL FINANCING AUTHORITY       | CUSIP: 57563RLJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1029604.70   | 0.06%             | 2025-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRINITY RIVER AUTH TEX REGL WASTEWTR SYS REV                                   | TRINITY RIVER TX AUTH REGL WST TRINITY RIVER AUTHORITY CENTRAL REGIONAL WASTEWATE | CUSIP: 89658HVG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1094067.60   | 0.06%             | 2032-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST MTG AGY HOMEOWNER MTG REV                                          | NEW YORK ST MTGE AGY HOMEOWNER STATE OF NEW YORK MORTGAGE AGENCY                  | CUSIP: 649883K38<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $999060.40    | 0.06%             | 2024-10-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| TENNESSEE ENERGY ACQUISITION CORP GAS REV                                      | TENNESSEE ST ENERGY ACQUISITIO TENNESSEE ENERGY ACQUISITION CORP                  | CUSIP: 880443EE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3485000 | PA      | $3562859.78   | 0.20%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH REV                                               | NEW JERSEY ST ECON DEV AUTH RE NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY          | CUSIP: 645918T86<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1775000 | PA      | $1783481.48   | 0.10%             | 2025-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY ALA                                                             | JEFFERSON CNTY AL COUNTY OF JEFFERSON AL                                          | CUSIP: 472628RQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2621034.25   | 0.15%             | 2025-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP SALES TAX REV                                  | PUERTO RICO SALES TAX FING COR PUERTO RICO SALES TAX FINANCING CORP SALES TAX REV | CUSIP: 74529JRH0<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   1250000 | PA      | $1129275.63   | 0.06%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| PORT PORTLAND ORE ARPT REV                                                     | PORT OF PORTLAND OR ARPT REVEN PORT OF PORTLAND OR AIRPORT REVENUE                | CUSIP: 735240U50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1040000 | PA      | $1144144.66   | 0.07%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                                                       | MINNESOTA ST HSG FIN AGY MINNESOTA HOUSING FINANCE AGENCY                         | CUSIP: 60416TCR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1332651.38   | 0.08%             | 2051-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP SALES TAX REV                                  | PUERTO RICO SALES TAX FING COR PUERTO RICO SALES TAX FINANCING CORP SALES TAX REV | CUSIP: 74529JQD0<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   1500000 | PA      | $1089384.30   | 0.06%             | 2029-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS EDL FING AUTH ED LN REV                                          | MASSACHUSETTS ST EDUCTNL FING MASSACHUSETTS EDUCATIONAL FINANCING AUTHORITY       | CUSIP: 57563RTA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1925000 | PA      | $2085579.65   | 0.12%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY ILL UNIV REVS                                                       | UNIV OF ILLINOIS IL REVENUES UNIVERSITY OF ILLINOIS                               | CUSIP: 914353G27<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2035000 | PA      | $2078221.77   | 0.12%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY REV                                               | MASSACHUSETTS ST DEV FIN AGY R MASSACHUSETTS DEVELOPMENT FINANCE AGENCY           | CUSIP: 57584YQC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1325000 | PA      | $1373483.47   | 0.08%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                            | CALIFORNIA ST STATE OF CALIFORNIA                                                 | CUSIP: 13063D2G2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1692530.10   | 0.10%             | 2042-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONROE CNTY GA DEV AUTH POLLUTION CTL REV                                      | MONROE CNTY GA DEV AUTH POLL C DEVELOPMENT AUTHORITY OF MONROE COUNTY/THE         | CUSIP: 610530FU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    730000 | PA      | $640039.18    | 0.04%             | 2049-07-01      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA GAS SUPPLY REV                                         | MAIN STREET NATURAL GAS INC GA MAIN STREET NATURAL GAS INC                        | CUSIP: 56035DAW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003629.70   | 0.06%             | 2048-08-01      | Floating      | 3.95%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH REV                                          | VIRGINIA ST SMALL BUSINESS FIN VIRGINIA SMALL BUSINESS FINANCING AUTHORITY        | CUSIP: 928104QJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    440000 | PA      | $453756.56    | 0.03%             | 2047-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HEALTH FACS FING AUTH REV                                           | CALIFORNIA ST HLTH FACS FING A CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY   | CUSIP: 13032UA81<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    620000 | PA      | $620864.65    | 0.04%             | 2040-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP EDL FACS REV                                              | FLORIDA ST DEV FIN CORP EDUCTN FLORIDA DEVELOPMENT FINANCE CORP                   | CUSIP: 34061UEX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $345672.05    | 0.02%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                            | CALIFORNIA ST STATE OF CALIFORNIA                                                 | CUSIP: 13063DS41<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3650000 | PA      | $4290803.86   | 0.24%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                                    | ILLINOIS ST STATE OF ILLINOIS                                                     | CUSIP: 452153DL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2126421.60   | 0.12%             | 2031-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OREGON ST DEPT ADMINISTRATIVE SVCS LOTTERY REV                                 | OREGON ST DEPT OF ADMIN SVCS L OREGON STATE LOTTERY                               | CUSIP: 68607VJ30<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2450000 | PA      | $2526943.72   | 0.14%             | 2024-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO HSG & FIN ASSN NONPROFIT FACS REV                                        | IDAHO ST HSG & FIN ASSN NONPRO IDAHO HOUSING & FINANCE ASSOCIATION                | CUSIP: 45129GFL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1176601.95   | 0.07%             | 2041-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA SCH DIST                                                       | PHILADELPHIA PA SCH DIST SCHOOL DISTRICT OF PHILADELPHIA/THE                      | CUSIP: 717883UE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7975000 | PA      | $8446963.69   | 0.48%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLUMBUS CNTY N C INDL FACS & POLLUTN CTL FING AUTH ENVIRONMENTAL IMPT REV     | COLUMBUS CNTY NC INDL FACS & P COLUMBUS COUNTY INDUSTRIAL FACILITIES & POLLUTION  | CUSIP: 199040AG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1565000 | PA      | $1507099.23   | 0.09%             | 2027-03-01      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| ALLENTOWN PA NEIGHBORHOOD IMPT ZONE DEV AUTH TAX REV                           | ALLENTOWN PA NEIGHBORHOOD IMPT ALLENTOWN NEIGHBORHOOD IMPROVEMENT ZONE DEVELOPMEN | CUSIP: 018444AY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1850000 | PA      | $1673807.48   | 0.10%             | 2042-05-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH REV                                                  | COLORADO ST HLTH FACS AUTH REV COLORADO HEALTH FACILITIES AUTHORITY               | CUSIP: 1964745K2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6425000 | PA      | $6867685.71   | 0.39%             | 2036-11-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA GAS SUPPLY REV                                         | MAIN STREET NATURAL GAS INC GA MAIN STREET NATURAL GAS INC                        | CUSIP: 56035DAL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1865000 | PA      | $1855005.47   | 0.11%             | 2048-04-01      | Floating      | 3.27%                 | No            |                  2 | On Loan: No      |
| UMATILLA CNTY ORE SCH DIST NO 008R HERMISTON                                   | UMATILLA CNTY OR SCH DIST #8 R UMATILLA COUNTY SCHOOL DISTRICT NO 8R HERMISTON    | CUSIP: 904121NU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $858256.40    | 0.05%             | 2027-06-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY REV                                               | MASSACHUSETTS ST DEV FIN AGY R MASSACHUSETTS DEVELOPMENT FINANCE AGENCY           | CUSIP: 57584XZN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2225000 | PA      | $2253453.08   | 0.13%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BROWARD CNTY FLA ARPT SYS REV                                                  | BROWARD CNTY FL ARPT SYS REVEN COUNTY OF BROWARD FL AIRPORT SYSTEM REVENUE        | CUSIP: 114894XQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2079398.40   | 0.12%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST HSG & CMNTY DEV AUTH SINGLE FAMILY REV                              | INDIANA ST HSG & CMNTY DEV AUT INDIANA HOUSING & COMMUNITY DEVELOPMENT AUTHORITY  | CUSIP: 45505TRP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $417618.60    | 0.02%             | 2049-07-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                                | NEW JERSEY ST TRANSPRTN TRUST NEW JERSEY TRANSPORTATION TRUST FUND AUTHORITY      | CUSIP: 6461363L3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3687977.30   | 0.21%             | 2029-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                                    | ILLINOIS ST STATE OF ILLINOIS                                                     | CUSIP: 452153CR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2118233.60   | 0.12%             | 2030-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ST LOUIS MO INDL DEV AUTH REV                                                  | SAINT LOUIS MO INDL DEV AUTH INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF ST   | CUSIP: 791649JV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2350000 | PA      | $2130556.06   | 0.12%             | 2042-06-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| SOUTH JERSEY PORT CORP N J REV                                                 | SOUTH JERSEY NJ PORT CORP SOUTH JERSEY PORT CORP                                  | CUSIP: 838530RA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    285000 | PA      | $297056.73    | 0.02%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2022-11-30

**Name of Applicant:** SEI TAX EXEMPT TRUST

**Signature:** Ankit Puri

**Name of Signer:** Ankit Puri

**Title:** CFO