# EDGAR Filing Document

**Accession Number:** 0001845809
**File Stem:** 0000940400-26-020752
**Filing Date:** 2026-5
**Character Count:** 109554
**Document Hash:** d74841a343df0c40b2983e4b477aa34c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-020752.hdr.sgml**: 20260521

**ACCESSION NUMBER**: 0000940400-26-020752

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260521

**DATE AS OF CHANGE**: 20260521

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Putnam ETF Trust
- **CENTRAL INDEX KEY:** 0001845809

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23643
- **FILM NUMBER:** 261008687

**BUSINESS ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02111
- **BUSINESS PHONE:** 6177601060

**MAIL ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02111

## Series and Classes Contracts Data

### Franklin Municipal Income ETF (Series ID: S000094551)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000263084 | Franklin Municipal Income ETF |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Putnam ETF Trust

- **b. Investment Company Act file number:** 811-23643

- **c. CIK number of Registrant:** 0001845809

- **d. LEI of Registrant:** 549300EMFKH8ETCKNO35

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

  - **Street Address 1:** One Franklin Parkway

  - **City:** San Mateo

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94403-1906

  - **Telephone number:** 650-312-2000

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

- **a. Name of Series:** Franklin Municipal Income ETF

- **b. EDGAR series identifier (if any):** S000094551

- **c. LEI of Series:** 254900FL0S9OMY2ZPJ51

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

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $500219529.36

**Total Liabilities:** $28926627.08

**Net Assets:** $471292902.28

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 428.38490000 | **1-Year:** 8206.46685000 | **5-Year:** 56049.83969000 | **10-Year:** 255511.70489000 | **30-Year:** 18433.36433000

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

- **3-Month:** 88.11297000 | **1-Year:** 316.18115000 | **5-Year:** 6577.85758000 | **10-Year:** 14895.26054000 | **30-Year:** 447.65168000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000263084 | 0.64%                | 1.84%                | -2.31%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $126037.75               | $1514702.88                                |
| Month 2  | $-252117.48              | $7569399.39                                |
| Month 3  | $-548111.96              | $-12417739.58                              |

**Designated Index Information**

- **Index Name:** BTMNTR Index

- **Index Identifier:** BM10506

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ILLINOIS ST                                                                   | IL ILS 5.25 05/01/2040              | CUSIP: 452153FG9<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2650000 | PA      | $2800203.86   | 0.59%             | 2040-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PORT OF HOUSTON AUTHORITY OF HARRIS COUNTY (TX)                               | TX PRHTRN 5 10/01/2048              | CUSIP: 734262GV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5745000 | PA      | $5897111.51   | 1.25%             | 2048-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ST. CLAIR COUNTY COMMUNITY UNIT SCHOOL DISTRICT N.187 (IL)                    | IL SCCSCD 5 01/01/2049              | CUSIP: 788550MP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002328.30   | 0.21%             | 2049-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GLENDALE CITY INDUSTRIAL DEVELOPMENT AUTHORITY (THE) (AZ)                     | AZ GLEDEV 5 05/15/2039              | CUSIP: 378287AP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3417596.00   | 0.73%             | 2039-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GRAND FORKS (ND), CITY OF                                                     | ND GRAMED 3 12/01/2046              | CUSIP: 38546WDP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1497562.00   | 0.32%             | 2046-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| LOUISVILLE & JEFFERSON COUNTY METRO GOVERNMENT (KY)                           | KY LOUMED 5 10/01/2031              | CUSIP: 54659LBP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1144496.43   | 0.24%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA DEV AUTH                                                           | GA ATLHSG 6 07/01/2055              | CUSIP: 04777LDW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101607.03    | 0.02%             | 2055-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PORT SEATTLE WASH                                                             | WA PTSGEN 5 08/01/2041              | CUSIP: 735389V70<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2097456.80   | 0.45%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD                        | FRETE 2024-ML22 AUS                 | CUSIP: 3137HCXR8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGSE             | US        |   2709055 | PA      | $2751230.72   | 0.58%             | 2040-10-25      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST HSG FIN AGY                                                  | MA MASHSG 5.1 12/01/2030            | CUSIP: 57586NGX3<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    590000 | PA      | $590559.85    | 0.13%             | 2030-12-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TPK COMMN                                                     | PA PASTRN 4.9 12/01/2044            | CUSIP: 709224DV8<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5032959.00   | 1.07%             | 2044-12-01      | Variable      | 4.90%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH                                                          | PA PHIDEV 5 11/01/2047              | CUSIP: 71781XHE6<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   1155000 | PA      | $1183965.67   | 0.25%             | 2047-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FW TEX STR PUB FAC CORP                                                       | TX FWTDEV 5 05/01/2038              | CUSIP: 30322SAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1578331.50   | 0.33%             | 2038-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT COLUMBIA                                                             | DC DISREV 5 07/01/2048              | CUSIP: 25483VTE4<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1207571.63   | 0.26%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH                                                           | IN INSFIN 5.75 05/15/2060           | CUSIP: 45506EPC1<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005475.00   | 0.21%             | 2060-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MED CARE COMMN RETIREMENT FACS                                 | NC NCSMED 5 10/01/2039              | CUSIP: 65820YSV9<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    250000 | PA      | $261435.45    | 0.06%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST                                                                       | OH OHSMED 4 11/15/2041              | CUSIP: 67756CFC7<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |    455000 | PA      | $409143.78    | 0.09%             | 2041-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MATAGORDA COUNTY NAVIGATION DISTRICT N.1 (TX)                                 | TX MATPOL 4.4 05/01/2030            | CUSIP: 576528CY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2337899.18   | 0.50%             | 2030-05-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| NORTH DAKOTA ST HSG FIN AGY                                                   | ND NDSMFH 5 07/01/2050              | CUSIP: 65889BCE2<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $502811.15    | 0.11%             | 2050-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DETROIT MICH                                                                  | MI DET 04/01/2044                   | CUSIP: 251093S84<br>LEI: 549300BQRJP7MKKHOY28 | Long             | DBT              | MUN               | US        |   2137784 | PA      | $1648286.62   | 0.35%             | 2044-04-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HEALTH & EDL FACS AUTH                                            | MO MOSMED 4 05/01/2034              | CUSIP: 60636AVW0<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1919533.00   | 0.41%             | 2034-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FINANCE AUTHORITY (NH)                                               | NH NFAHSG 10/20/2040                | CUSIP: 63607DAB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1496271 | PA      | $1481260.45   | 0.31%             | 2040-10-20      | Variable      | 4.15%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HEALTH & EDL FACS AUTH                                         | CT CTSHGR 5 07/01/2034              | CUSIP: 20775DPE6<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    600000 | PA      | $640194.78    | 0.14%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH INFRASTRUCTURE AGY                                                       | UT UTSFAC 4 10/15/2033              | CUSIP: 917467BY7<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |   1225000 | PA      | $1200237.36   | 0.25%             | 2033-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX ARIZ INDL DEV AUTH                                                    | AZ PHOEDU 5 07/01/2044              | CUSIP: 71885FDK0<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000693.90   | 0.21%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                                           | WI PUBEDU 5.75 07/01/2062           | CUSIP: 74448GAA7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1388315 | PA      | $1426473.84   | 0.30%             | 2062-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                                           | WI PUBTRN 5.75 12/31/2065           | CUSIP: 74448UAD0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1021379.30   | 0.22%             | 2065-12-31      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| HAMILTON CNTY OHIO                                                            | OH HAMMED 5 01/01/2032              | CUSIP: 40727RBC1<br>LEI: 549300TO1E3N4E4YIO28 | Long             | DBT              | MUN               | US        |    655000 | PA      | $655590.29    | 0.14%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING AUTH                                             | CA CCEDEV 04/01/2056                | CUSIP: 13013JHK5<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1057959.90   | 0.22%             | 2056-04-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| KNOX COUNTY HEALTH EDUCATION & HOUSING FACILITY BOARD (TN)                    | TN KNOMED 5.5 07/01/2059            | CUSIP: 499526AT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1817473.88   | 0.39%             | 2059-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CLIFTON HIGHER EDUCATION FINANCE CORP (TX)                                    | TX CLIEDU 4 08/15/2047              | CUSIP: 187145QF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1410000 | PA      | $1281115.28   | 0.27%             | 2047-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL                                                                   | IL CHI 6 01/01/2050                 | CUSIP: 167486U72<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1549898.25   | 0.33%             | 2050-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GALVESTON TEX                                                                 | TX GALTRN 5.5 08/01/2043            | CUSIP: 364568KE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $420602.44    | 0.09%             | 2043-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FINANCING CORP (RI)                                        | RI TOBGEN 5 06/01/2050              | CUSIP: 888809BG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3184571.33   | 0.68%             | 2050-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS CMNTY HSG & ECONOMIC DEV CORP                                           | TX TXSMFH 6.25 01/01/2065           | CUSIP: 88231CAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1080790.97   | 0.23%             | 2065-01-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| PORT SEATTLE WASH                                                             | WA PTSGEN 5 08/01/2047              | CUSIP: 735389V96<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1015557.60   | 0.22%             | 2047-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GALVESTON TEX                                                                 | TX GALTRN 5.5 08/01/2042            | CUSIP: 364568KD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $528799.75    | 0.11%             | 2042-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS IND LOC PUB IMPT BD BK                                           | IN INPGEN 4.12 02/01/2052           | CUSIP: 45528U6T3<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   3185000 | PA      | $2879629.21   | 0.61%             | 2052-02-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CUYAHOGA CNTY OHIO PORT AUTH                                        | OH CLETRN 5.5 12/01/2053            | CUSIP: 18610PAW8<br>LEI: 549300KI3FXFLUKF3A98 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2485036.50   | 0.53%             | 2053-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TARRANT CNTY TEX CULTURAL ED FACS FIN CORP                                    | TX TAREDU 5 11/15/2037              | CUSIP: 87638RKB2<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2773036.75   | 0.59%             | 2037-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CITY DEPARTMENT OF AIRPORTS (CA)                                  | CA LOSAPT 5 05/15/2046              | CUSIP: 544445Q77<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5500.25      | 0.00%             | 2046-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS IND LOC PUB IMPT BD BK                                           | IN INPGEN 5.25 02/01/2054           | CUSIP: 45528UZL8<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3556365.40   | 0.75%             | 2054-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MARICOPA COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY (THE) (AZ)                   | AZ MAREDU 5 07/01/2036              | CUSIP: 56681NAS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $248827.50    | 0.05%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                                           | WI PUBFIN 5.75 07/01/2053           | CUSIP: 74439YET4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1911895.80   | 0.41%             | 2053-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| UTAH INFRASTRUCTURE AGY                                                       | UT UTSFAC 4 10/15/2041              | CUSIP: 917467CD2<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |    500000 | PA      | $457123.10    | 0.10%             | 2041-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FINANCING CORP                                          | PR PRCGEN 4.75 07/01/2053           | CUSIP: 74529JPW9<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |   2900000 | PA      | $2704430.09   | 0.57%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| DULUTH ECONOMIC DEVELOPMENT AUTHORITY (MN)                                    | MN DULDEV 4 07/01/2031              | CUSIP: 26444VAF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $973472.40    | 0.21%             | 2031-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HEALTH & EDL FACS AUTH                                            | MO MOSMED 4 05/01/2040              | CUSIP: 60636AWC3<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2134059.83   | 0.45%             | 2040-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LAKEWOOD RANCH STEWARDSHIP DIST FLA                                           | FL LKRGEN 6 05/01/2056              | CUSIP: 51265KGH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $542736.13    | 0.12%             | 2056-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL                                                                   | IL CHI 4 01/01/2036                 | CUSIP: 167486M55<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   3850000 | PA      | $3628803.26   | 0.77%             | 2036-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KENTWOOD CITY ECONOMIC DEVELOPMENT CORP (THE) (MI)                            | MI KTWDEV 4 11/15/2043              | CUSIP: 491740FB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    695000 | PA      | $620526.09    | 0.13%             | 2043-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FRETE 2019-ML05 TR                                                            | FRETE 2019-ML05 AUS                 | CUSIP: 30309HAC1<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |   2930933 | PA      | $2800472.44   | 0.59%             | 2036-01-25      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| LAKE HOUSTON REDEV AUTH TAX TEX                                               | TX LKHDEV 3 09/01/2044              | CUSIP: 51001QAU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $365828.10    | 0.08%             | 2044-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH                                                          | PA PHIDEV 5 11/01/2047              | CUSIP: 71781XHG1<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   1195000 | PA      | $1159642.58   | 0.25%             | 2047-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PASSAIC CNTY N J IMPT AUTH                                                    | NJ PASEDU 5.38 07/01/2053           | CUSIP: 70275QAC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000943.40   | 0.21%             | 2053-07-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| KENTWOOD CITY ECONOMIC DEVELOPMENT CORP (THE) (MI)                            | MI KTWDEV 4 11/15/2045              | CUSIP: 491740EZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $967767.19    | 0.21%             | 2045-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TAMPA (FL), CITY OF                                                           | FL TAMGEN 0 09/01/2042              | CUSIP: 875146BA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    830000 | PA      | $394927.11    | 0.08%             | 2042-09-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL EDUCATION FACILITIES FINANCE CORP (TX)                      | TX NHPFAC 4 07/01/2048              | CUSIP: 64542YBF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1705000 | PA      | $1460364.72   | 0.31%             | 2048-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA PUB SVC AUTH                                                   | SC SCSUTL 5 12/01/2036              | CUSIP: 83715BCP0<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1305316.48   | 0.28%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH                                              | DC METAPT 0 10/01/2037              | CUSIP: 592643BP4<br>LEI: 7HERAVJJLN8J1DZ6AZ19 | Long             | DBT              | MUN               | US        |  11000000 | PA      | $6388639.40   | 1.36%             | 2037-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY (VA)                        | FL CHAUTL 6.12 10/01/2055           | CUSIP: 16080TAL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1535256.90   | 0.33%             | 2055-10-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| JOHNSON CITY TENN HEALTH & EDL FACS BRD                                       | TN JOHMED 12/01/2027                | CUSIP: 47827TAD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3014550.30   | 0.64%             | 2027-12-01      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CITY & CNTY                                                       | CO DENAPT 5.5 11/15/2035            | CUSIP: 249182QL3<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2231919.20   | 0.47%             | 2035-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CUYAHOGA CNTY OHIO PORT AUTH                                        | OH CLETRN 4 07/01/2046              | CUSIP: 18610PBQ0<br>LEI: 549300KI3FXFLUKF3A98 | Long             | DBT              | MUN               | US        |    950000 | PA      | $833365.94    | 0.18%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DEKALB COUNTY HOUSING AUTHORITY (GA)                                          | GA DEKMFH 4 03/01/2034              | CUSIP: 240471PF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4958702.50   | 1.05%             | 2034-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH                                                  | NJ NJSDEV 5 06/01/2037              | CUSIP: 64577B4K7<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1267855.88   | 0.27%             | 2037-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIBERTY DEVELOPMENT CORP (NY)                                        | NY NYCDEV 2.75 02/15/2044           | CUSIP: 649519EN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5250000 | PA      | $3901649.33   | 0.83%             | 2044-02-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH BRDG & TUNL AUTH N Y                                               | NY TRITRN 5.25 05/15/2057           | CUSIP: 896035BE1<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   5600000 | PA      | $5785698.80   | 1.23%             | 2057-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LINCOLN CNTY S D                                                              | SD LINDEV 4 08/01/2041              | CUSIP: 53340EAA5<br>LEI: 549300USXDZ5FGJLUV88 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1238503.56   | 0.26%             | 2041-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IRVING TEX                                                                    | TX IRVFAC 5 08/15/2033              | CUSIP: 463805DC2<br>LEI: 5493002R7BX8XPQ92O37 | Long             | DBT              | MUN               | US        |    240000 | PA      | $244831.94    | 0.05%             | 2033-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAKE HOUSTON REDEV AUTH TAX TEX                                               | TX LKHDEV 3 09/01/2040              | CUSIP: 51001QAS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $180087.89    | 0.04%             | 2040-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MED CARE COMMN RETIREMENT FACS                                 | NC NCSMED 5.12 10/01/2054           | CUSIP: 65820YSY3<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1507291.50   | 0.32%             | 2054-10-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| OMAHA PUB PWR DIST NEB                                                        | NE OMAPWR 5.25 02/01/2048           | CUSIP: 682001JU7<br>LEI: 54930000VJEJ9CGIYG32 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2637953.25   | 0.56%             | 2048-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALA                                                | AL BBEUTL 5 10/01/2035              | CUSIP: 09182TGM3<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3127381.80   | 0.66%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY (CA)                         | CA CASPOL 5 11/21/2045              | CUSIP: 13054WAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3500331.45   | 0.74%             | 2045-11-21      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO (IL), CITY OF                                                         | IL CHITRN 5.5 01/01/2055            | CUSIP: 167593Y48<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   3825000 | PA      | $3936810.11   | 0.84%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE HEALTH & ED FACS AUTH                                           | NH NHSMED 5 10/01/2037              | CUSIP: 6446147E3<br>LEI: 549300CNCK7OT82W5653 | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4515108.75   | 0.96%             | 2037-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GAITHERSBURG MD                                                               | MD GAIDEV 5 01/01/2036              | CUSIP: 363128CU1<br>LEI: 549300UFHDHDCHDE0F65 | Long             | DBT              | MUN               | US        |    750000 | PA      | $758179.88    | 0.16%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES COMMUNITY FACILITIES DISTRICT (CA)                                | CA LOSFAC 4 09/01/2046              | CUSIP: 544386DX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1460000 | PA      | $1300959.13   | 0.28%             | 2046-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LAKE HOUSTON REDEV AUTH TAX TEX                                               | TX LKHDEV 3 09/01/2034              | CUSIP: 51001QAL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $134082.24    | 0.03%             | 2034-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE ECONOMIC DEVELOPMENT AUTHORITY (DE)                                  | DE DESEDU 4 06/01/2042              | CUSIP: 246372BB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    730000 | PA      | $627621.15    | 0.13%             | 2042-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SANTA FE (NM), CITY OF                                                        | NM STEFAC 5 05/15/2032              | CUSIP: 802170AH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2155000 | PA      | $2156129.65   | 0.46%             | 2032-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG DEV AUTH                                                      | MI MISHSG 4.45 10/01/2034           | CUSIP: 59465MM28<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100025.49    | 0.02%             | 2034-10-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| ST. CLAIR COUNTY COMMUNITY UNIT SCHOOL DISTRICT N.187 (IL)                    | IL SCCSCD 5 01/01/2054              | CUSIP: 788550MQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $982020.60    | 0.21%             | 2054-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH                                                             | MI MISFIN 5.25 02/01/2032           | CUSIP: 594479DB0<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1855000 | PA      | $1862581.94   | 0.40%             | 2032-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                                           | WI PUBEDU 5.25 06/15/2065           | CUSIP: 74442EMS6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    250000 | PA      | $222103.05    | 0.05%             | 2065-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                                           | WI PUBFAC 5.25 07/01/2028           | CUSIP: 74443CAB9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    340000 | PA      | $340293.73    | 0.07%             | 2028-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CSCDA COMMUNITY IMPROVEMENT AUTHORITY (CA)                                    | CA CDAHSG 3.25 04/01/2057           | CUSIP: 126292BG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1137299.04   | 0.24%             | 2057-04-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP                                                          | FL FLSMED 5 02/01/2052              | CUSIP: 34061QBU0<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $926321.50    | 0.20%             | 2052-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KNOX CNTY TENN HEALTH EDL & HSG FACS BRD                                      | TN KNOMED 5.5 07/01/2054            | CUSIP: 499526AS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1043177.40   | 0.22%             | 2054-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LAKE HOUSTON REDEV AUTH TAX TEX                                               | TX LKHDEV 3 09/01/2037              | CUSIP: 51001QAP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $186956.81    | 0.04%             | 2037-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SEMINOLE CNTY FLA INDL DEV AUTH                                               | FL SEMEDU 4 06/15/2056              | CUSIP: 816686AM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    805000 | PA      | $592155.50    | 0.13%             | 2056-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CSCDA COMMUNITY IMPROVEMENT AUTHORITY (CA)                                    | CA CDAHSG 3 03/01/2057              | CUSIP: 126292BB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2350000 | PA      | $1572220.50   | 0.33%             | 2057-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                                           | WI PUBMFH 6.81 04/28/2036           | CUSIP: 74448FAA9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1641329.92   | 0.35%             | 2036-04-28      | Fixed         | 6.81%                 | No            |                  2 | On Loan: No      |
| ST JOHN BAPTIST PARISH LA                                                     | LA SJBCTF 06/01/2037                | CUSIP: 79020FAY2<br>LEI: 1FRVQX2CRLGC1XLP5727 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3993844.00   | 0.85%             | 2037-06-01      | Variable      | 2.20%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CITY & CNTY                                                       | DENVER COLO CITY & CNTY (TOBs)      | CUSIP: 249182TF3<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   5675000 | PA      | $6318518.27   | 1.34%             | 2037-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| KANSAS CITY MO INDL DEV AUTH                                                  | MO KANDEV 4 03/01/2039              | CUSIP: 48504NCE7<br>LEI: 549300QWDXL46XQC8110 | Long             | DBT              | MUN               | US        |   5215000 | PA      | $5005261.04   | 1.06%             | 2039-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMN                                                   | WA WASHSG 03/01/2050                | CUSIP: 93978UAA4<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1087836 | PA      | $1048533.73   | 0.22%             | 2050-03-01      | Variable      | 4.08%                 | No            |                  2 | On Loan: No      |
| E 470 PUB HWY AUTH COLO                                                       | CO EHYTRN 0 09/01/2034              | CUSIP: 26822LEP5<br>LEI: 549300164ZV2301BC703 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $3758462.50   | 0.80%             | 2034-09-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIBERTY DEVELOPMENT CORP (NY)                                        | NY NYCDEV 3 11/15/2051              | CUSIP: 649519EH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $2532702.20   | 0.54%             | 2051-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GULFPORT MISS                                                                 | MS GULMED 5.5 07/01/2055            | CUSIP: 402682DH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1875000 | PA      | $1899420.19   | 0.40%             | 2055-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW MEMPHIS ARENA PUBLIC BUILDING AUTHORITY OF MEMPHIS AND SHELBY COUNTY (TN) | TX NHPFAC 4 11/01/2055              | CUSIP: 64542UFN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $200892.95    | 0.04%             | 2055-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FARMINGTON N MEX                                                              | NM FARPOL 2.15 04/01/2033           | CUSIP: 311450FW5<br>LEI: 5493000GWMTI2L4AZA61 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1731130.80   | 0.37%             | 2033-04-01      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| IOWA HIGHER ED LN AUTH                                                        | IA IASHGR 6 10/01/2055              | CUSIP: 46247DBK2<br>LEI: 549300DWVTM3KRNR0M36 | Long             | DBT              | MUN               | US        |   1490000 | PA      | $1534704.92   | 0.33%             | 2055-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| EAST NASSAU STEWARDSHIP DIST FLA                                              | FL ENADEV 6.25 05/01/2056           | CUSIP: 273794AQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $815410.72    | 0.17%             | 2056-05-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                                           | WI PUBFIN 4 09/01/2056              | CUSIP: 74445QDX5<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1443383.40   | 0.31%             | 2056-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTH N Y & N J                                                           | PORT AUTH N Y & N J (TOBs)          | CUSIP: 73358W4C5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4745000 | PA      | $4790831.42   | 1.02%             | 2049-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY INC KY PUB ENERGY AUTH                                               | KY KYSPWR 5 12/01/2033              | CUSIP: 74440DFQ2<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   1505000 | PA      | $1519908.38   | 0.32%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA FIN AUTH                                                                 | IA IASGEN 4 05/15/2046              | CUSIP: 46247SBM5<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   3850000 | PA      | $3256207.96   | 0.69%             | 2046-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MUNICIPAL ELEC AUTH GA                                                        | GA MELPWR 5.25 01/01/2054           | CUSIP: 62620HJZ6<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1801840.78   | 0.38%             | 2054-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NV LASGEN 5 07/01/2043                                                        | NV LASGEN 5 07/01/2043 (TOBs)       | CUSIP: 51771FAT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3900000 | PA      | $3986141.25   | 0.85%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS NEV SPL IMPT DIST NO 818                                            | NV LASGEN 5 12/01/2054              | CUSIP: 51779DAP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1148048.16   | 0.24%             | 2054-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ONEIDA INDIAN NATION N Y                                                      | NY ONEFAC 8 09/01/2040              | CUSIP: 682504AB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $582552.63    | 0.12%             | 2040-09-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| A.B. WON PAT INTERNATIONAL AIRPORT AUTHORITY                                  | NY NYTTRN 4 10/31/2046              | CUSIP: 650110AD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1790732.60   | 0.38%             | 2046-10-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOWER COLO RIV AUTH TEX                                                       | TX LWCGEN 6 05/15/2052              | CUSIP: 54811BZT1<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3463582.53   | 0.73%             | 2052-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GALVESTON TEX                                                                 | TX GALTRN 5.5 08/01/2044            | CUSIP: 364568KF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $574577.36    | 0.12%             | 2044-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP                                                          | FL FLSDEV 4 07/01/2055              | CUSIP: 34061UGS1<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    750000 | PA      | $561863.93    | 0.12%             | 2055-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ANNA (TX), CITY OF                                                            | TX ANNGEN 5.88 09/15/2051           | CUSIP: 035713AZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    679000 | PA      | $694418.53    | 0.15%             | 2051-09-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PHOENIX ARIZ INDL DEV AUTH                                                    | AZ PHOEDU 5 07/01/2035              | CUSIP: 71885FDN4<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100012.34    | 0.02%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HEALTH & EDL FACS AUTH                                            | MO MOSMED 4 05/01/2045              | CUSIP: 60636AWS8<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1589617.05   | 0.34%             | 2045-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND STUDENT LOAN AUTHORITY (RI)                                      | RI RISSTD 5 12/01/2044              | CUSIP: 762323DT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    985000 | PA      | $967399.23    | 0.21%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH TRANSIT AUTHORITY (UT)                                                   | UT UTSFAC 5 05/15/2041              | CUSIP: 917547F97<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2960000 | PA      | $3156985.93   | 0.67%             | 2041-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLIFTON HIGHER EDUCATION FINANCE CORP (TX)                                    | TX CLIEDU 4.25 04/01/2048           | CUSIP: 187145SA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2525000 | PA      | $2357071.09   | 0.50%             | 2048-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NATIONAL FINANCE AUTHORITY (NH)                                               | NH NFADEV 3.62 08/20/2039           | CUSIP: 63607WAU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3351694 | PA      | $3152446.59   | 0.67%             | 2039-08-20      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HSG FIN AUTH                                                   | CT CTSHSG 4.1 11/15/2039            | CUSIP: 20775B2D7<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |   1685000 | PA      | $1631072.08   | 0.35%             | 2039-11-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| IRVING TEX                                                                    | TX IRVFAC 5 08/15/2039              | CUSIP: 463805DJ7<br>LEI: 5493002R7BX8XPQ92O37 | Long             | DBT              | MUN               | US        |    600000 | PA      | $601953.18    | 0.13%             | 2039-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS COUNTY CULTURAL EDUCATION FACILITIES FINANCE CORP (TX)                 | TX HAREDU 5 06/01/2028              | CUSIP: 414009EZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    830000 | PA      | $823000.61    | 0.17%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH                                                             | IL ILSGEN 5.25 10/01/2053           | CUSIP: 45203NAV1<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2574996.50   | 0.55%             | 2053-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING AUTH                                             | CA CCEDEV 01/01/2056                | CUSIP: 13013JFX9<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2027434.60   | 0.43%             | 2056-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| DOUBLE BRANCH COMMUNITY DEVELOPMENT DISTRICT (FL)                             | FL DOUDEV 4.25 05/01/2034           | CUSIP: 25856MAV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    890000 | PA      | $885739.66    | 0.19%             | 2034-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CITY DEPARTMENT OF AIRPORTS (CA)                                  | CA LOSAPT 4 05/15/2035              | CUSIP: 544445XY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1517350.50   | 0.32%             | 2035-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LAKE HOUSTON REDEV AUTH TAX TEX                                               | TX LKHDEV 3 09/01/2047              | CUSIP: 51001QAV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $415087.80    | 0.09%             | 2047-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HEALTH & EDL FACS AUTH                                         | CT CTSMED 5 07/01/2034              | CUSIP: 20774YW45<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1502330.85   | 0.32%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLIFTON TEX HIGHER ED FIN CORP                                                | TX CLIEDU 4.5 08/15/2054            | CUSIP: 187145TN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2280000 | PA      | $2123962.73   | 0.45%             | 2054-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH                                           | WI WISMED 5.5 02/15/2054            | CUSIP: 97712JKM4<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2269743.96   | 0.48%             | 2054-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL BRD ED                                                            | IL CHIEDU 5 12/01/2040              | CUSIP: 167505A30<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1739730.96   | 0.37%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SEMINOLE CNTY FLA INDL DEV AUTH                                               | FL SEMEDU 4 06/15/2051              | CUSIP: 816686AL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    830000 | PA      | $634333.06    | 0.13%             | 2051-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH                                                          | PA PHIDEV 4 06/15/2029              | CUSIP: 71781XFY4<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    175000 | PA      | $172900.14    | 0.04%             | 2029-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ORANGE COUNTY HEALTH FACILITIES AUTHORITY (FL)                                | FL ORAMED 5 10/01/2042              | CUSIP: 68450LHK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1322621.38   | 0.28%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT VERDE FINL CORP SR GAS                                                   | AZ SLTPWR 5 12/01/2037              | CUSIP: 79575EAS7<br>LEI: 549300VEWOZY6TQOIF03 | Long             | DBT              | MUN               | US        |    500000 | PA      | $528071.55    | 0.11%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH COOP DIST ALA                                           | AL SEEPWR 5 11/01/2035              | CUSIP: 84136HDM2<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1045174.20   | 0.22%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA                                                       | GA MAIUTL 12/01/2053                | CUSIP: 56035DGB2<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   3300000 | PA      | $3494587.80   | 0.74%             | 2053-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST URBAN DEV CORP                                                    | NY NYSFAC 5 03/15/2044              | CUSIP: 64985TEL1<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10641887.00  | 2.26%             | 2044-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUB FACS AUTH                                                       | LA LASFAC 5.5 09/01/2059            | CUSIP: 546399SY3<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3275686.38   | 0.70%             | 2059-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH                                                     | CO COSMED 5 05/15/2045              | CUSIP: 19648A5G6<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000387.30   | 0.21%             | 2045-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO HEALTH & HOSP AUTH                                                | CO DENMED 6 12/01/2055              | CUSIP: 24918EEP1<br>LEI: 549300WFV5S7GIR4OS67 | Long             | DBT              | MUN               | US        |    250000 | PA      | $263814.68    | 0.06%             | 2055-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH                                              | DC METAPT 4 10/01/2036              | CUSIP: 592643CZ1<br>LEI: 7HERAVJJLN8J1DZ6AZ19 | Long             | DBT              | MUN               | US        |   1490000 | PA      | $1490744.70   | 0.32%             | 2036-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HERICO COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY (VA)                           | VA HENDEV 5.93 08/23/2027           | CUSIP: 426063JU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3550000 | PA      | $3649475.97   | 0.77%             | 2027-08-23      | Floating      | 5.93%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP                                                | NY NYCMFH 2.4 11/01/2050            | CUSIP: 64972ESG5<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $2500872.00   | 0.53%             | 2050-11-01      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSPORTATION DEVELOPMENT CORP (NY)                                 | NY NYTTRN 5 07/01/2046              | CUSIP: 650116AR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1999915.40   | 0.42%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY COUNTY AIRPORT AUTHORITY (PA)                                       | PA ALLAPT 4 01/01/2046              | CUSIP: 01728LFH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3155001.85   | 0.67%             | 2046-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KANSAS CITY MO INDL DEV AUTH                                                  | MO KANDEV 5 03/01/2046              | CUSIP: 48504NBC2<br>LEI: 549300QWDXL46XQC8110 | Long             | DBT              | MUN               | US        |   2700000 | PA      | $2701624.05   | 0.57%             | 2046-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MENIFEE CALIF UN SCH DIST                                                     | CA MNFSCD 4 09/01/2045              | CUSIP: 5868104B6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    860000 | PA      | $777152.16    | 0.16%             | 2045-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA PUB SVC AUTH                                                   | SC SCSUTL 5 12/01/2046              | CUSIP: 8371516N4<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2605103.00   | 0.55%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VILLAGE CMNTY DEV DIST NO 15 FLA                                              | FL VGEDEV 4.8 05/01/2055            | CUSIP: 92708KAK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    695000 | PA      | $647642.14    | 0.14%             | 2055-05-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP                                                | NY NYCMFH 3.35 11/01/2065           | CUSIP: 64972ELG2<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   5670000 | PA      | $4064015.59   | 0.86%             | 2065-11-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| YAVAPAI COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY (AZ)                          | AZ YAVDEV 5 03/01/2032              | CUSIP: 98521VAD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $175053.18    | 0.04%             | 2032-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO, COMMONWEALTH OF                                                  | PR PRC 4 07/01/2037                 | CUSIP: 74514L3M7<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1498035.94   | 0.32%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FL ORAMED 4 10/01/2052                                                        | FL ORAMED 4 10/01/2052 (TOBs)       | CUSIP: 68450LGQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7265000 | PA      | $6134018.32   | 1.30%             | 2052-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TEX HIGHER ED FIN CORP                                                | TX HOUHGR 5.25 10/01/2054           | CUSIP: 44237QAJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1190319.25   | 0.25%             | 2054-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY HOUSING AGENCY                                           | CA CCHHSG 3 08/01/2056              | CUSIP: 13013FAU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5975000 | PA      | $4019850.94   | 0.85%             | 2056-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                                           | WI PUBGEN 4 04/01/2042              | CUSIP: 74442PZX6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |     20000 | PA      | $21004.99     | 0.00%             | 2042-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DULUTH ECONOMIC DEVELOPMENT AUTHORITY (MN)                                    | MN DULDEV 4 07/01/2036              | CUSIP: 26444VAG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1162914.88   | 0.25%             | 2036-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALASKA INDL DEV & EXPT AUTH                                                   | ALASKA INDL DEV & EXPT AUTH (TOBs)  | CUSIP: 011903GK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6930000 | PA      | $6434633.50   | 1.37%             | 2044-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH                                                       | CA CASMFH 4.2 08/01/2040            | CUSIP: 130489AB3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   3550000 | PA      | $3528510.79   | 0.75%             | 2040-08-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| PORT GTR CINCINNATI DEV AUTH OHIO                                             | OH PRTDEV 5 12/01/2058              | CUSIP: 734195DE7<br>LEI: 549300IK2RCZBY62ST97 | Long             | DBT              | MUN               | US        |   2740000 | PA      | $2763355.21   | 0.59%             | 2058-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                                           | WI PUBGEN 4 04/01/2042              | CUSIP: 74442PA21<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    830000 | PA      | $742196.04    | 0.16%             | 2042-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA DEV AUTH                                                           | GA ATLHSG 6 07/01/2050              | CUSIP: 04777LDV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $102515.78    | 0.02%             | 2050-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT COLUMBIA                                                             | DC DISREV 5 07/01/2037              | CUSIP: 25483VTC8<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2522288.50   | 0.54%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF DEPT WTR & PWR                                              | CA LOSUTL 5 07/01/2046              | CUSIP: 544532EC4<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1027503.80   | 0.22%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CALIF CITY & CNTY CMNTY FACS DIST NO 2016-1                     | CA SFOFAC 4 09/01/2042              | CUSIP: 79773LAB8<br>LEI: 549300RA28ZEFOB6M782 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1841910.80   | 0.39%             | 2042-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA JOBS-ECONOMIC DEV AUTH                                         | SC SCSMED 5.5 11/01/2054            | CUSIP: 837032CF6<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5210314.00   | 1.11%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH                                              | DC METAPT 4 10/01/2044              | CUSIP: 592643DD9<br>LEI: 7HERAVJJLN8J1DZ6AZ19 | Long             | DBT              | MUN               | US        |   2055000 | PA      | $1873881.14   | 0.40%             | 2044-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST PORT AUTH                                                    | MA MASTRN 4 07/01/2046              | CUSIP: 575896RS6<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3166681.35   | 0.67%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL BRD ED                                                            | IL CHIEDU 5 12/01/2035              | CUSIP: 167505XL5<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1910000 | PA      | $1919962.37   | 0.41%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT SEATTLE WASH                                                             | WA PTSGEN 5 08/01/2037              | CUSIP: 735389V39<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1597062.00   | 0.34%             | 2037-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SEMINOLE CNTY FLA INDL DEV AUTH                                               | FL SEMEDU 4 06/15/2041              | CUSIP: 816686AK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $371656.98    | 0.08%             | 2041-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GRAYS HARBOR CNTY WASH PUB HOSP DIST NO 1                                     | WA GRHMED 6.88 12/01/2049           | CUSIP: 389526AH7<br>LEI: TBI9VVSY0W0HBJJJJM65 | Long             | DBT              | MUN               | US        |   3325000 | PA      | $3626582.49   | 0.77%             | 2049-12-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SEMINOLE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY (FL)                         | FL SEMEDU 4 06/15/2036              | CUSIP: 816686AJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    315000 | PA      | $295419.10    | 0.06%             | 2036-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY (PA)                    | PA PASDEV 5.75 12/31/2062           | CUSIP: 70868YAZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2332247.40   | 0.49%             | 2062-12-31      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MARICOPA COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY (THE) (AZ)                   | AZ MAREDU 5 07/01/2035              | CUSIP: 56681NAN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $350408.28    | 0.07%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMN                                                   | WA WASHSG 5.25 07/01/2064           | CUSIP: 93978LJQ0<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $994804.70    | 0.21%             | 2064-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA JOBS-ECONOMIC DEV AUTH                                         | SC SCSMED 4 12/01/2044              | CUSIP: 83703EMQ5<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1189582.94   | 0.25%             | 2044-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CITY & CNTY                                                       | CO DENAPT 5 11/15/2037              | CUSIP: 249182QN9<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1544352.08   | 0.33%             | 2037-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP                                                          | FL FLSHSG 5 06/01/2051              | CUSIP: 34061WAY0<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1177903.87   | 0.25%             | 2051-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| M-S-R ENERGY AUTH CALIF                                                       | CA MSRPWR 6.5 11/01/2039            | CUSIP: 55374SAC4<br>LEI: 549300UEMSS1JTK5YB98 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2669369.63   | 0.57%             | 2039-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| OHIO ST HOSP FAC REV ACTING BY AND THROUGH THE OHIO DEV FING COMMN            | OH OHSMED 4 01/01/2043              | CUSIP: 677561LF7<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |     15000 | PA      | $15343.26     | 0.00%             | 2043-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY HOUSING AGENCY                                           | CA CCHHSG 4 02/01/2056              | CUSIP: 13013FAR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $696299.18    | 0.15%             | 2056-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IRVING TEX                                                                    | TX IRVFAC 5 08/15/2036              | CUSIP: 463805DF5<br>LEI: 5493002R7BX8XPQ92O37 | Long             | DBT              | MUN               | US        |    430000 | PA      | $436030.54    | 0.09%             | 2036-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH                                                             | IL ILSGEN 5 10/01/2048              | CUSIP: 45203NAU3<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2561038.75   | 0.54%             | 2048-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL BRD ED                                                            | IL CHIEDU 5.25 12/01/2039           | CUSIP: 167505QR0<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1443487.50   | 0.31%             | 2039-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TPK COMMN                                                     | PA PASTRN 4 12/01/2049              | CUSIP: 709224P78<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2160000 | PA      | $1926700.56   | 0.41%             | 2049-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL O HARE INTL ARPT                                                  | IL CHITRN 5 01/01/2060              | CUSIP: 167591AG1<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $986873.20    | 0.21%             | 2060-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH                                                             | IL ILSHSG 5 02/15/2047              | CUSIP: 45203KAP0<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    500000 | PA      | $464040.95    | 0.10%             | 2047-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT SEATTLE WASH                                                             | WA PTSGEN 5 08/01/2038              | CUSIP: 735389V47<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3173658.60   | 0.67%             | 2038-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FINANCING CORP (NJ)                                        | NJ TOBGEN 5 06/01/2036              | CUSIP: 888808HM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4123792.80   | 0.87%             | 2036-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BEAUMONT CITY HOUSING AUTHORITY (TX)                                          | TX BEAHSG 6.5 07/01/2055            | CUSIP: 07451AAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1100123.89   | 0.23%             | 2055-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH                                                             | IL ILSGEN 4 11/01/2051              | CUSIP: 45204FLG8<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1243063.35   | 0.26%             | 2051-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH                                                             | MI MISFIN 5 12/01/2045              | CUSIP: 594479CW5<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    250000 | PA      | $228179.93    | 0.05%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WILLIAMSON COUNTY INDUSTRIAL DEVELOPMENT (TN)                                 | TN WMNMFH 05/01/2042                | CUSIP: 969878AB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6625000 | PA      | $6702217.03   | 1.42%             | 2042-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX CITY CIVIC IMPROVEMENT CORP (AZ)                                      | AZ PHOGEN 5.5 07/01/2043            | CUSIP: 71884WBH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1177092.00   | 0.25%             | 2043-07-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH                                              | DC METAPT 4 10/01/2037              | CUSIP: 592643DA5<br>LEI: 7HERAVJJLN8J1DZ6AZ19 | Long             | DBT              | MUN               | US        |   3140000 | PA      | $3098966.48   | 0.66%             | 2037-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH                                                     | CO COSMED 5.5 09/15/2054            | CUSIP: 19648FZN7<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1255000 | PA      | $1238568.41   | 0.26%             | 2054-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHESTER COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY (PA)                          | PA CHEDEV 5 08/01/2030              | CUSIP: 16559PAR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    720000 | PA      | $720312.55    | 0.15%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO CNTY W VA CNTY COMMN                                                     | WV OHSDEV 5.25 06/01/2053           | CUSIP: 677321BU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $731691.90    | 0.16%             | 2053-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH COOP DIST ALA                                           | AL SEEPWR 01/01/2056                | CUSIP: 84136HBC6<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    780000 | PA      | $785008.38    | 0.17%             | 2056-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTH N Y & N J                                                           | NY PORTRN 5 09/15/2029              | CUSIP: 73358WR97<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   3525000 | PA      | $3650842.50   | 0.77%             | 2029-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH                                                  | NJ NJSDEV 5 10/01/2037              | CUSIP: 64578CCE9<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3036758.10   | 0.64%             | 2037-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY (PA)                          | PA INNDEV 4 05/01/2054              | CUSIP: 45469NEZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $879140.80    | 0.19%             | 2054-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HEALTH & EDL FACS AUTH                                            | MO MOSMED 4 05/01/2043              | CUSIP: 60636AWD1<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1285468.38   | 0.27%             | 2043-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH N H                                                         | NH NFAEDU 6 08/01/2065              | CUSIP: 63607EAD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $979031.00    | 0.21%             | 2065-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| KNOX COUNTY HEALTH EDUCATION & HOUSING FACILITY BOARD (TN)                    | TN KNOMED 5.25 07/01/2049           | CUSIP: 499526AR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1289237.63   | 0.27%             | 2049-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                                   | IL ILS 5.25 05/01/2041              | CUSIP: 452153FH7<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1312317.63   | 0.28%             | 2041-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CSCDA COMMUNITY IMPROVEMENT AUTHORITY (CA)                                    | CA CDAHSG 3 12/01/2056              | CUSIP: 126292AR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3250000 | PA      | $2208239.15   | 0.47%             | 2056-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                                           | WI PUBGEN 5 02/01/2062              | CUSIP: 74447DAD9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1888365.00   | 0.40%             | 2062-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH                                                           | IN INSUTL 5 10/01/2045              | CUSIP: 45505MPT7<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1068795.00   | 0.23%             | 2045-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY (THE) (AZ)                           | AZ AZSEDU 4 12/15/2051              | CUSIP: 04052BMT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $540571.29    | 0.11%             | 2051-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IRVING TEX                                                                    | TX IRVFAC 5 08/15/2031              | CUSIP: 463805DA6<br>LEI: 5493002R7BX8XPQ92O37 | Long             | DBT              | MUN               | US        |    100000 | PA      | $102633.87    | 0.02%             | 2031-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTHORITY (FL)                          | FL VOLEDU 4 10/15/2039              | CUSIP: 928836NC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $494793.05    | 0.10%             | 2039-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING AUTH                                             | CA CCEDEV 5 03/01/2036              | CUSIP: 13013JHM1<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   4750000 | PA      | $4937066.88   | 1.05%             | 2036-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN                                   | CA SFOAPT 5 05/01/2035              | CUSIP: 79766DTP4<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3211920.90   | 0.68%             | 2035-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CITY & CNTY                                                       | CO DENAPT 5.5 11/15/2038            | CUSIP: 249182QP4<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2305149.63   | 0.49%             | 2038-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TEX HIGHER ED FIN CORP                                              | TX ARLEDU 4.5 08/15/2060            | CUSIP: 041807ML9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $933581.40    | 0.20%             | 2060-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ST LOUIS MO MUN FIN CORP                                                      | MO STLCTT 5 10/01/2045              | CUSIP: 79165TUC3<br>LEI: 549300CR13DAYKUKQN03 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2295718.43   | 0.49%             | 2045-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Putnam Investment Fund.                                                       | Putnam Investment Fund. GOVT MMKT P | CUSIP: 74680A869<br>LEI: 549300SRAF55EHI5J317 | Long             | STIV             | RF                | US        |  13566362 | NS      | $13566361.72  | 2.88%             |  |  |  | No            |                  1 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTIFAMILY VAR RATE CTFS RELATING TO MUN SECS       | OT FEDMFH 2.55 06/15/2035           | CUSIP: 31350ACS5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGSE             | US        |   6525000 | PA      | $5826156.84   | 1.24%             | 2035-06-15      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN PIER & EXPOSITION AUTH ILL                                       | IL MPNFAC 4 06/15/2052              | CUSIP: 592250EY6<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   2900000 | PA      | $2439994.17   | 0.52%             | 2052-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                                   | IL ILS 5 12/01/2031                 | CUSIP: 452152T27<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2870000 | PA      | $2943519.36   | 0.62%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH                                           | WI WISMED 4 04/01/2036              | CUSIP: 97712D8M1<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   7825000 | PA      | $7900040.19   | 1.68%             | 2036-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH                                                           | IN INSUTL 5 10/01/2043              | CUSIP: 45505MPR1<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1677997.30   | 0.36%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GRAND PKWY TRANSN CORP TEX                                                    | GRAND PKWY TRANSN CORP TEX (TOBs)   | CUSIP: 38611TBR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4546101.15   | 0.96%             | 2048-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FINANCE AUTHORITY (NH)                                               | NH NFADEV 4.25 07/20/2041           | CUSIP: 63607WAQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1951812 | PA      | $1920877.93   | 0.41%             | 2041-07-20      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| LAKE HOUSTON REDEV AUTH TAX TEX                                               | TX LKHDEV 3 09/01/2039              | CUSIP: 51001QAR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $204293.85    | 0.04%             | 2039-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| RAMSEY MINN                                                                   | MN RAMEDU 5 06/01/2032              | CUSIP: 751814AA2<br>LEI: 549300PYUDKBK3S78343 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1158482.98   | 0.25%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTWOOD CITY ECONOMIC DEVELOPMENT CORP (THE) (MI)                            | MI KTWDEV 4 11/15/2031              | CUSIP: 491740FA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $426160.93    | 0.09%             | 2031-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALT VERDE FINL CORP SR GAS                                                   | AZ SLTPWR 5.5 12/01/2029            | CUSIP: 79575EAQ1<br>LEI: 549300VEWOZY6TQOIF03 | Long             | DBT              | MUN               | US        |   1900000 | PA      | $2019252.36   | 0.43%             | 2029-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AURORA CROSSROADS MET DIST NO 2 COLO                                          | CO AUCDEV 0 12/01/2055              | CUSIP: 05162QAE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    950000 | PA      | $866601.12    | 0.18%             | 2055-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NY NYSTRN 5 03/15/2054                                                        | NY NYSTRN 5 03/15/2054 (TOBs)       | CUSIP: 650028ZP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7200000 | PA      | $7308424.08   | 1.55%             | 2054-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH                                                          | PA PHIDEV 5 06/15/2039              | CUSIP: 71781XFZ1<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    500000 | PA      | $492488.60    | 0.10%             | 2039-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT COLUMBIA                                                             | DC DIS 5 01/01/2045                 | CUSIP: 25476FA40<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5264315.00   | 1.12%             | 2045-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DETROIT MICH                                                                  | MI DET 6 05/01/2043                 | CUSIP: 2510936E5<br>LEI: 549300BQRJP7MKKHOY28 | Long             | DBT              | MUN               | US        |    500000 | PA      | $551675.70    | 0.12%             | 2043-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMN                                                   | WA WASHSG 3.38 04/20/2037           | CUSIP: 93978T4M8<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   3218797 | PA      | $2981513.63   | 0.63%             | 2037-04-20      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                                           | WI PUBTRN 6.5 12/31/2065            | CUSIP: 74448UAC2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    500000 | PA      | $545990.90    | 0.12%             | 2065-12-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| VAUXMONT MET DIST COLO                                                        | CO VAUFAC 3.25 12/15/2050           | CUSIP: 92242SAN3<br>LEI: 549300M7XL6MB0OW8D56 | Long             | DBT              | MUN               | US        |    938000 | PA      | $810066.09    | 0.17%             | 2050-12-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CSCDA COMMUNITY IMPROVEMENT AUTHORITY (CA)                                    | CA CDAHSG 3 02/01/2057              | CUSIP: 126292AW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4300000 | PA      | $2980318.82   | 0.63%             | 2057-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP                                                          | FL FLSDEV 4 07/01/2045              | CUSIP: 34061UGR3<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    600000 | PA      | $494785.86    | 0.10%             | 2045-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TR AUTH FLA                                                           | FL CTSEDU 5.25 07/01/2055           | CUSIP: 14054WBW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    335000 | PA      | $315816.79    | 0.07%             | 2055-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUB FACS AUTH                                                       | LA LASFAC 5.25 05/15/2055           | CUSIP: 546399UN4<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2565406.00   | 0.54%             | 2055-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| IDAHO HEALTH FACS AUTH                                                        | ID IDSMED 4.38 03/01/2053           | CUSIP: 451295H44<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |   1515000 | PA      | $1388018.46   | 0.29%             | 2053-03-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| IRVING TEX                                                                    | TX IRVFAC 5 08/15/2034              | CUSIP: 463805DD0<br>LEI: 5493002R7BX8XPQ92O37 | Long             | DBT              | MUN               | US        |    300000 | PA      | $306039.51    | 0.06%             | 2034-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DC METAPT 4 10/01/2053                                                        | DC METAPT 4 10/01/2053 (TOBs)       | CUSIP: 592643DJ6<br>LEI: 7HERAVJJLN8J1DZ6AZ19 | Long             | DBT              | MUN               | US        |   2050000 | PA      | $1694256.94   | 0.36%             | 2053-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH                                                  | NJ NJSDEV 5.25 11/01/2060           | CUSIP: 645912GC4<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    430000 | PA      | $415927.00    | 0.09%             | 2060-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LAKE HOUSTON REDEV AUTH TAX TEX                                               | TX LKHDEV 3 09/01/2038              | CUSIP: 51001QAQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $166988.34    | 0.04%             | 2038-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ONEIDA INDIAN NATION N Y                                                      | NY ONEFAC 6 09/01/2043              | CUSIP: 682504AC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $885638.41    | 0.19%             | 2043-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MENIFEE CALIF UN SCH DIST                                                     | CA MNFSCD 4 09/01/2041              | CUSIP: 5868104A8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $757347.12    | 0.16%             | 2041-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                                           | WI PUBMFH 6.75 12/01/2060           | CUSIP: 74441XJJ9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    900000 | PA      | $909986.67    | 0.19%             | 2060-12-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA PUB SVC AUTH                                                   | SC SCSUTL 5 12/01/2036              | CUSIP: 83715BDC8<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   2700000 | PA      | $2706303.42   | 0.57%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-21

**Name of Applicant:** Putnam ETF Trust

**Signature:** Monica Krogh

**Name of Signer:** Monica Krogh

**Title:** Assistant Treasurer Controller, US Fund Administration and Oversight