# EDGAR Filing Document

**Accession Number:** 0002018846
**File Stem:** 0001410368-25-017042
**Filing Date:** 2025-10
**Character Count:** 106443
**Document Hash:** 3c322a80b55a12337e4c234d75d7694e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-017042.hdr.sgml**: 20251024

**ACCESSION NUMBER**: 0001410368-25-017042

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251024

**DATE AS OF CHANGE**: 20251024

**PERIOD START**: 20260228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MFS Active Exchange Traded Funds Trust
- **CENTRAL INDEX KEY:** 0002018846

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0228

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23953
- **FILM NUMBER:** 251414346

**BUSINESS ADDRESS:**
- **STREET 1:** 111 HUNTINGTON AVENUE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199
- **BUSINESS PHONE:** 617-954-5000

**MAIL ADDRESS:**
- **STREET 1:** 111 HUNTINGTON AVENUE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199

## Series and Classes Contracts Data

### MFS Active Intermediate Muni Bond ETF (Series ID: S000085668)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000251002 | MFS Active Intermediate Muni Bond ETF | MFSM            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** MFS Active Exchange Traded Funds Trust

- **b. Investment Company Act file number:** 811-23953

- **c. CIK number of Registrant:** 0002018846

- **d. LEI of Registrant:** 254900BBYRSBROE1WI76

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

  - **Street Address 1:** 111 HUNTINGTON AVENUE

  - **City:** BOSTON

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02199

  - **Telephone number:** 617-954-5000

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

- **a. Name of Series:** MFS Active Intermediate Muni Bond ETF

- **b. EDGAR series identifier (if any):** S000085668

- **c. LEI of Series:** 2549005ZTJ37E48F3888

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

- **a. Date of fiscal year-end:** 2026-02-28

- **b. Date as of which information is reported:** 2025-08-31

**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:** $48698463.37

**Total Liabilities:** $1074774.66

**Net Assets:** $47623688.71

**Delayed Delivery Securities:** $926004.60

**Cash Not Reported:** $0.11

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -85.34000000 | **1-Year:** -1918.08000000 | **5-Year:** -7630.14000000 | **10-Year:** -14915.66000000 | **30-Year:** -2020.52000000

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

- **3-Month:** -6.25000000 | **1-Year:** -197.50000000 | **5-Year:** -664.54000000 | **10-Year:** -885.92000000 | **30-Year:** -37.44000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000251002 | 0.84%                | -0.03%               | 0.81%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-13113.21               | $236087.30                                 |
| Month 2  | $25.50                   | $-150323.62                                |
| Month 3  | $-1185.86                | $230586.53                                 |

**Designated Index Information**

- **Index Name:** Barclays Municipal 1-15 Yr

- **Index Identifier:** I06112

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Chicago Board of Education Dedicated Capital Improvement Tax                     | CHICAGO IL BRD OF EDU DEDICATED CAPITAL IMPT TAX             | CUSIP: 167510AW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $108801.75    | 0.23%             | 2033-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH MUNI CTFS                               | CUSIP: 63607WBD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     99641 | PA      | $93773.37     | 0.20%             | 2041-01-20      | Floating      | 4.17%                 | No            |                  2 | On Loan: No      |
| State of Minnesota                                                               | MINNESOTA ST                                                 | CUSIP: 60412AQ63<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $476206.45    | 1.00%             | 2041-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Allegheny County Hospital Development Authority                                  | ALLEGHENY CNTY PA HOSP DEV AUTH                              | CUSIP: 01728A3W4<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |    245000 | PA      | $251990.51    | 0.53%             | 2036-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Valley Energy Authority                                                  | CENTRL VLY CA ENERGY AUTH COMMODITY SPLY REVENUE             | CUSIP: 15569DAA0<br>LEI: 254900G5IPQ9MA3FRJ55 | Long             | DBT              | MUN               | US        |    100000 | PA      | $107407.04    | 0.23%             | 2055-12-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                           | CALIFORNIA ST MUNI FIN AUTH COPS                             | CUSIP: 130493CG2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    170000 | PA      | $181626.01    | 0.38%             | 2033-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                  | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE  | CUSIP: 13013JFR2<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    500000 | PA      | $537779.85    | 1.13%             | 2055-02-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Baldwin County Industrial Development Authority                                  | BALDWIN CNTY AL INDL DEV AUTH SOL WST DISP REVENUE           | CUSIP: 05786PAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100142.51    | 0.21%             | 2055-06-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                        | HOUSTON TX ARPT SYS REVENUE                                  | CUSIP: 442349HU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $157187.90    | 0.33%             | 2034-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Florida Housing Finance Corp                                                     | FLORIDA ST HSG FIN CORP MF MTGE REVENUE                      | CUSIP: 34074HHE5<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |    250000 | PA      | $251397.33    | 0.53%             | 2058-07-01      | Floating      | 3.30%                 | No            |                  2 | On Loan: No      |
| Philadelphia Housing Authority                                                   | PHILADELPHIA PA HSG AUTH GEN REVENUE                         | CUSIP: 71783PAR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $260207.38    | 0.55%             | 2039-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commerce School District                                                         | COMMERCE GA SCH DIST                                         | CUSIP: 200635BE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $279944.95    | 0.59%             | 2043-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| STC Metropolitan District No 2                                                   | STC MET DIST #2 CO                                           | CUSIP: 85780TAW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $227603.13    | 0.48%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Northeastern Illinois University                                                 | N ESTRN IL UNIV COPS                                         | CUSIP: 66442RDL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $106048.16    | 0.22%             | 2037-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Idaho Health Facilities Authority                                                | IDAHO ST HLTH FACS AUTH REVENUE                              | CUSIP: 451295H69<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |     70000 | PA      | $75353.88     | 0.16%             | 2060-03-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Pasco Local Improvement District                                                 | PASCO WA LOCAL IMPT DIST                                     | CUSIP: 702562AN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     65000 | PA      | $64865.89     | 0.14%             | 2042-08-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | ILLINOIS ST FIN AUTH REVENUE                                 | CUSIP: 45204FK46<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    100000 | PA      | $97032.20     | 0.20%             | 2041-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| DeKalb County Housing Authority                                                  | DEKALB CNTY GA HSG AUTH MF HSG                               | CUSIP: 240471PH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $117551.64    | 0.25%             | 2034-12-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| City of Godley TX                                                                | GODLEY TX                                                    | CUSIP: 380316AP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $140713.73    | 0.30%             | 2042-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Providence Public Building Authority                                             | PROVIDENCE RI PUBLIC BLDGS AUTH REVENUE                      | CUSIP: 74381MBA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $382513.01    | 0.80%             | 2035-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                             | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FZG2<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    245000 | PA      | $263198.82    | 0.55%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arlington Higher Education Finance Corp                                          | ARLINGTON TX HGR EDU FIN CORP EDU REVENUE                    | CUSIP: 041807PT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $128145.49    | 0.27%             | 2040-06-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                          | SOUTH CAROLINA ST PUBLIC SVC AUTH REVENUE                    | CUSIP: 837151PU7<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    125000 | PA      | $125464.20    | 0.26%             | 2038-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lee County Industrial Development Authority/FL                                   | LEE CNTY FL INDL DEV AUTH HLTHCR FACS REVENUE                | CUSIP: 52349EEU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $192829.62    | 0.40%             | 2044-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                      | CUSIP: 64613CCU0<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    210000 | PA      | $199794.82    | 0.42%             | 2040-06-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Grand Parkway Transportation Corp                                                | GRAND PARKWAY TRANSPRTN CORP TX SYS TOLL REVENUE             | CUSIP: 38611TBQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $303098.22    | 0.64%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greater Asheville Regional Airport Authority                                     | GTR ASHEVILLE REGL ARPT AUTH NC ARPT SYS REVENUE             | CUSIP: 39160CAM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $523933.80    | 1.10%             | 2038-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Hampshire Health and Education Facilities Authority Act                      | NEW HAMPSHIRE ST HLTH & EDU FACS AUTH REVENUE                | CUSIP: 64461XDZ5<br>LEI: 549300CNCK7OT82W5653 | Long             | DBT              | MUN               | US        |    250000 | PA      | $253834.28    | 0.53%             | 2038-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Hawaii Airports System Revenue                                          | HAWAII ST ARPTS SYS REVENUE                                  | CUSIP: 419794L34<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $201098.40    | 0.42%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Raleigh Housing Authority                                                        | RALEIGH NC HSG AUTH MF REVENUE                               | CUSIP: 751115BY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $260303.98    | 0.55%             | 2028-08-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                           | CALIFORNIA STWD CMNTYS DEV AUTH REVENUE                      | CUSIP: 13080SX90<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    100000 | PA      | $105983.98    | 0.22%             | 2029-09-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DuBois Hospital Authority                                                        | DUBOIS PA HOSP AUTH                                          | CUSIP: 263804CY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $136753.26    | 0.29%             | 2036-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Kenmore WA                                                               | KENMORE WA                                                   | CUSIP: 489153CM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $258703.10    | 0.54%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Fort Worth TX                                                            | FORT WORTH TX SPL TAX REVENUE                                | CUSIP: 349507ER0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $104636.84    | 0.22%             | 2043-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Port of Seattle WA                                                               | PORT OF SEATTLE WA REVENUE                                   | CUSIP: 735389D47<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |    250000 | PA      | $255198.13    | 0.54%             | 2033-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southern Illinois University                                                     | STHRN ILLINOIS ST UNIV                                       | CUSIP: 8431465Y3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    310000 | PA      | $318506.25    | 0.67%             | 2039-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI STUDENT HSG REVENUE                       | CUSIP: 74439YFX4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    100000 | PA      | $106774.21    | 0.22%             | 2035-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                         | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57584XJ36<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    125000 | PA      | $115335.18    | 0.24%             | 2046-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                        | NEW JERSEY ST ECON DEV AUTH DOCK & WHARF FAC REVENUE         | CUSIP: 64578TAA2<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    100000 | PA      | $102388.26    | 0.21%             | 2035-01-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Passaic County Improvement Authority/The                                         | PASSAIC CNTY NJ IMPT AUTH CHRT SCH REVENUE                   | CUSIP: 70275QAK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100591.24    | 0.21%             | 2033-07-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                  | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE  | CUSIP: 13013JEB8<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    250000 | PA      | $265593.03    | 0.56%             | 2055-08-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finance Corp                        | TARRANT CNTY TX CULTURAL EDU FACS FIN CORP REVENUE           | CUSIP: 87638TJF1<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |    135000 | PA      | $138400.74    | 0.29%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                      | PUERTO RICO CMWLTH                                           | CUSIP: 74514L3G0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    125000 | PA      | $129247.95    | 0.27%             | 2027-07-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                                    | MASSACHUSETTS ST EDUCTNL FING AUTH                           | CUSIP: 57563RQT9<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |    300000 | PA      | $317019.96    | 0.67%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                        | INDIANA ST FIN AUTH REVENUE                                  | CUSIP: 45506EPE7<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100041.99    | 0.21%             | 2032-05-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                                      | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE            | CUSIP: 56035DJZ6<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    345000 | PA      | $368486.01    | 0.77%             | 2055-06-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Adams County General Authority                                                   | ADAMS CNTY PA GEN AUTH REV                                   | CUSIP: 006114AA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $130632.23    | 0.27%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Charleston Housing Authority/SC                                                  | CHARLESTON SC HSG AUTH REVENUE                               | CUSIP: 160340AC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $98466.76     | 0.21%             | 2035-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Columbus Metropolitan Housing Authority                                          | COLUMBUS OH MET HSG AUTH GEN REVENUE                         | CUSIP: 19951AAU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $259485.63    | 0.54%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Finance Authority of Maine                                                       | MAINE ST FIN AUTH SOL WST DISP REVENUE                       | CUSIP: 56042CAZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100663.58    | 0.21%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                             | PUERTO RICO ELEC PWR AUTH PWRREVENUE                         | CUSIP: 74526QPN6<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    325000 | PA      | $327786.81    | 0.69%             | 2030-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority                                     | NEW YORK NY CITY TRANSITIONAL FIN AUTH REV                   | CUSIP: 64972JNH7<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |    250000 | PA      | $260797.10    | 0.55%             | 2042-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Alaska Municipal Bond Bank Authority                                             | ALASKA ST MUNI BOND BANK AUTH                                | CUSIP: 01179R6G3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $276284.29    | 0.58%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fort Loramie Local School District                                               | FORT LORAMIE OH LOCAL SCH DIST COPS                          | CUSIP: 347790AW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $115502.84    | 0.24%             | 2045-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                            | PENNSYLVANIA ST ECON DEV FING AUTH T/E PRIVATE ACTIVITY REV  | CUSIP: 70868YAT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $518561.45    | 1.09%             | 2042-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Delaware State Housing Authority                                                 | DELAWARE ST HSG AUTH REVENUE                                 | CUSIP: 246395ZM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $261681.05    | 0.55%             | 2055-01-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Jacksonville Public Educational Building Authority                               | JACKSONVILLE PUBLIC EDUCTNL BLDG AUTH                        | CUSIP: 469480BT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $253562.70    | 0.53%             | 2044-08-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI EDU REVENUE                               | CUSIP: 74442EKK5<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    125000 | PA      | $130946.66    | 0.27%             | 2032-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cumberland County Industrial Facilities & Pollution Control Financing Authority  | CUMBERLAND CNTY NC INDL FACS & POLL CONTROL FING AUTH SOL WS | CUSIP: 230589AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $15003.15     | 0.03%             | 2027-12-01      | Floating      | 3.75%                 | No            |                  2 | On Loan: No      |
| Columbus Regional Airport Authority                                              | COLUMBUS OH REGL ARPT AUTH REVENUE                           | CUSIP: 199546CR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $107720.41    | 0.23%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southwestern Illinois Community College District No 522                          | SAINT CLAIR MADISON MONROE ETC CNTYS IL CMNTY CLG DIST       | CUSIP: 85227XDP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $230239.48    | 0.48%             | 2038-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Port of Seattle WA                                                               | PORT OF SEATTLE WA REVENUE                                   | CUSIP: 735389D70<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |    250000 | PA      | $253220.40    | 0.53%             | 2036-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI EDU REVENUE                               | CUSIP: 74442ENQ9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    105000 | PA      | $105382.69    | 0.22%             | 2035-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Vancouver Housing Authority                                                      | VANCOUVER WA HSG AUTH MF REVENUE                             | CUSIP: 92162PAJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $120940.63    | 0.25%             | 2042-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arapahoe County School District No 5 Cherry Creek                                | CHERRY CREEK CO SCH DIST #5                                  | CUSIP: 164555EB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $536695.75    | 1.13%             | 2042-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                       | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 544445EQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $357958.02    | 0.75%             | 2038-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                     | MASSACHUSETTS ST PORT AUTH                                   | CUSIP: 575896TM7<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |    105000 | PA      | $106277.98    | 0.22%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | CUSIP: 65000BLN6<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    250000 | PA      | $250562.13    | 0.53%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                           | NORTH CAROLINA ST MED CARE COMMISSION HLTH CARE FACS REVENUE | CUSIP: 65821DYC9<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    125000 | PA      | $126035.35    | 0.26%             | 2030-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                        | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE             | CUSIP: 574218F32<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $174282.68    | 0.37%             | 2042-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Texas Department of Housing & Community Affairs                                  | TEXAS ST DEPT OF HSG & CMNTY AFFAIRS RESDL MTG REVENUE       | CUSIP: 882750D33<br>LEI: 549300J3RRLLZZN4WP77 | Long             | DBT              | MUN               | US        |    250000 | PA      | $275927.10    | 0.58%             | 2056-01-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                  | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE  | CUSIP: 13013JFD3<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    250000 | PA      | $269157.18    | 0.57%             | 2055-02-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Pompano Beach FL                                                         | POMPANO BEACH FL REVENUE                                     | CUSIP: 732203AT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $146712.92    | 0.31%             | 2039-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                                      | VIRGINIA ST SMALL BUSINESS FING AUTH REVENUE                 | CUSIP: 928104PZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $126303.36    | 0.27%             | 2038-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Intermountain Power Agency                                                       | INTERMOUNTAIN PWR AGY UT PWR SPLY REVENUE                    | CUSIP: 45884AF40<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    245000 | PA      | $256627.75    | 0.54%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                   | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE            | CUSIP: 09182TEC7<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    250000 | PA      | $266226.33    | 0.56%             | 2055-10-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Health and Education Facilities Authority Act                      | NEW HAMPSHIRE ST HLTH & EDU FACS AUTH REVENUE                | CUSIP: 64461XKY0<br>LEI: 549300CNCK7OT82W5653 | Long             | DBT              | MUN               | US        |    125000 | PA      | $134891.94    | 0.28%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI SOL WST DISP REVENUE                      | CUSIP: 74445MAF6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    250000 | PA      | $250002.00    | 0.52%             | 2025-10-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH MUNI CTFS                               | CUSIP: 63607WBE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     99641 | PA      | $86991.05     | 0.18%             | 2041-01-20      | Floating      | 4.17%                 | No            |                  2 | On Loan: No      |
| Lancaster Municipal Authority                                                    | LANCASTER PA MUNI AUTH HLTHCARE FACS REVENUE                 | CUSIP: 514350AQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $233967.84    | 0.49%             | 2035-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Gary Chicago International Airport Authority                                     | GARY CHICAGO INTERNATIONAL ARPT AUTH IN DEV ZONE REVENUE     | CUSIP: 367066BP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $103745.49    | 0.22%             | 2042-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                                      | VIRGINIA ST SMALL BUSINESS FING AUTH REVENUE                 | CUSIP: 928104QD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $125996.18    | 0.26%             | 2040-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                            | PENNSYLVANIA ST ECON DEV FING AUTH UPMC REVENUE              | CUSIP: 70870JGX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $299693.66    | 0.63%             | 2060-03-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Hamilton OH                                                              | HAMILTON OH                                                  | CUSIP: 407756P82<br>LEI: 549300NCXYTNZWHRP508 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100321.80    | 0.21%             | 2025-12-17      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Mission Economic Development Corp                                                | MISSION TX ECON DEV CORP SOL WST DISP REVENUE                | CUSIP: 605155BW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101620.94    | 0.21%             | 2064-12-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                   | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE            | CUSIP: 09182TAW7<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    165000 | PA      | $164878.21    | 0.35%             | 2052-12-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Fourth Ward Redevelopment Authority                                              | FOURTH WARD REDEV AUTH TX TAX INCREMENT CONTRACT REVENUE     | CUSIP: 35131FAL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $160103.00    | 0.34%             | 2037-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeastern Pennsylvania Transportation Authority                               | S ESTRN PA TRANSPRTN AUTH                                    | CUSIP: 842039FQ7<br>LEI: 98450061A2F3FD36E493 | Long             | DBT              | MUN               | US        |    135000 | PA      | $138212.26    | 0.29%             | 2047-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| County of Cuyahoga OH                                                            | CUYAHOGA CNTY OH HOSP REVENUE                                | CUSIP: 2322655U8<br>LEI: 549300GHDK9DGLUNJU89 | Long             | DBT              | MUN               | US        |    350000 | PA      | $333382.77    | 0.70%             | 2052-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities & Community Development Auth | LOUISIANA ST LOCAL GOVT ENVRNMNTL FACS & CMNTY DEV AUTH REVE | CUSIP: 54628C2G6<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |    250000 | PA      | $261926.98    | 0.55%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116CH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $123301.55    | 0.26%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                | SOUTHEAST ENERGY AUTHORITY A COOPERATIVE                     | CUSIP: 84136HCF8<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |      5000 | PA      | $5325.30      | 0.01%             | 2055-05-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Edina MN                                                                 | EDINA MN                                                     | CUSIP: 280606JQ8<br>LEI: 549300V5XW2LPH6R4I43 | Long             | DBT              | MUN               | US        |    250000 | PA      | $236731.73    | 0.50%             | 2042-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                                | PHILADELPHIA PA AUTH FOR INDL DEV HOSP REVENUE               | CUSIP: 717901BF8<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    250000 | PA      | $257672.70    | 0.54%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State Street Global Advisors                                                     | State Street Institutional U.S. Government Money Market Fund | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |   1630150 | NS      | $1630149.75   | 3.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Private Activity Bond Surface Transportation Corp                          | TEXAS ST PRIV ACTIVITY BOND SURFACE TRANSPRTN CORP REVENUE   | CUSIP: 882667CG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $166438.48    | 0.35%             | 2038-06-30      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH AFFORDABLE HSG CTFS                     | CUSIP: 63607DAE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    249918 | PA      | $249690.40    | 0.52%             | 2041-06-20      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                           | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JRJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $231317.50    | 0.49%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| Miami County Unified School District No 367 Osawatomie                           | MIAMI CNTY KS UNIF SCH DIST #367                             | CUSIP: 593286JS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $311237.13    | 0.65%             | 2042-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Development Authority for Fulton County                                          | FULTON CNTY GA DEV AUTH REVENUE                              | CUSIP: 36005FCR4<br>LEI: 549300533NJL38F4K144 | Long             | DBT              | MUN               | US        |    430000 | PA      | $433669.23    | 0.91%             | 2044-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Town of Dover MA                                                                 | DOVER MA                                                     | CUSIP: 260165JR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $125458.49    | 0.26%             | 2039-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State Public School Building Authority                                           | STATE PUBLIC SCH BLDG AUTH PA COLLEGE REV                    | CUSIP: 85732NBJ3<br>LEI: 5493006JN0UR7OGWTO86 | Long             | DBT              | MUN               | US        |    265000 | PA      | $270123.22    | 0.57%             | 2044-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Celina TX                                                                | CELINA TX SPL ASSESSMENT REVENUE                             | CUSIP: 15114CKJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $264819.03    | 0.56%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington Clackamas & Yamhill Counties School District No 88J                   | WASHINGTON CLACKAMAS & YAMHILL CNTYS OR SCH DIST #88J        | CUSIP: 937440DM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $170408.28    | 0.36%             | 2034-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                          | SOUTH CAROLINA ST PUBLIC SVC AUTH REVENUE                    | CUSIP: 837151RK7<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    125000 | PA      | $127378.28    | 0.27%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Economic Development Finance Authority                                  | KENTUCKY ST ECON DEV FIN AUTH                                | CUSIP: 49126PGR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $129723.40    | 0.27%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PJ89<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    150000 | PA      | $158385.98    | 0.33%             | 2037-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State Higher Education Supplement Loan Authority                     | CONNECTICUT ST HGR EDU SUPPLEMENT LOAN AUTH REVENUE          | CUSIP: 207743YH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $264343.45    | 0.56%             | 2034-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Alaska Railroad Corp                                                             | ALASKA ST RAILROAD CORP CRUISE PORT REVENUE                  | CUSIP: 01176AAM5<br>LEI: 549300SM5ZU2HV31E004 | Long             | DBT              | MUN               | US        |    200000 | PA      | $212608.18    | 0.45%             | 2039-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Florida Higher Educational Facilities Financing Authority                        | FLORIDA ST HGR EDUCTNL FACS FINANCIAL AUTH REVENUE           | CUSIP: 34073TGK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $105576.37    | 0.22%             | 2036-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia Housing Finance Agency                                      | DIST OF COLUMBIA HSG FIN AGY MF HSG REVENUE                  | CUSIP: 25477PQC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $262722.28    | 0.55%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ohio Higher Educational Facility Commission                                      | OHIO ST HGR EDUCTNL FAC COMMISSION HLTHCR REVENUE            | CUSIP: 677510BZ1<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |    240000 | PA      | $236739.65    | 0.50%             | 2036-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                   | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE            | CUSIP: 09182TEN3<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    250000 | PA      | $263513.43    | 0.55%             | 2055-03-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp                              | NEW HOPE CULTURAL ED FACS FIN CORP TX RETIREMENT FAC REVENUE | CUSIP: 64542UFG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $145321.76    | 0.31%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                              | WISCONSIN ST HLTH & EDUCTNL FACS AUTH REVENUE                | CUSIP: 97712DQM1<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    175000 | PA      | $175624.51    | 0.37%             | 2032-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Rockland County Solid Waste Management Authority                                 | ROCKLAND CNTY NY SOL WST MGMT AUTH                           | CUSIP: 77356FAU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    340000 | PA      | $364418.49    | 0.77%             | 2044-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp                                           | NEW YORK CITY NY HSG DEV CORP MF HSG REV                     | CUSIP: 64972KGU3<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    500000 | PA      | $504318.80    | 1.06%             | 2064-11-01      | Floating      | 3.40%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                            | PENNSYLVANIA ST ECON DEV FING AUTH SOLID WASTE DISPOSAL REV  | CUSIP: 708692BL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300020.64    | 0.63%             | 2034-04-01      | Floating      | 3.85%                 | No            |                  2 | On Loan: No      |
| New Orleans Aviation Board                                                       | NEW ORLEANS LA AVIATION BRD                                  | CUSIP: 64763HHF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    355000 | PA      | $357322.13    | 0.75%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NEW HAMPSHIRE ST BUSINESS FIN AUTH WTR FAC REVENUE           | CUSIP: 644684GX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $114986.67    | 0.24%             | 2035-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                        | INDIANA ST FIN AUTH REVENUE                                  | CUSIP: 45506ENK5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    100000 | PA      | $102056.36    | 0.21%             | 2029-05-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade Seaport Department                                          | MIAMI-DADE CNTY FL SEAPORT REVENUE                           | CUSIP: 59335KET0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $262762.65    | 0.55%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Grand Forks ND                                                           | GRAND FORKS ND HLTH CARE SYS REVENUE                         | CUSIP: 38546WDB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $127450.80    | 0.27%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Galveston TX Wharves & Terminal Revenue                                  | GALVESTON TX WHARVES & TERMINAL REVENUE                      | CUSIP: 364568JH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $260734.23    | 0.55%             | 2037-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                  | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE  | CUSIP: 13013JFW1<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    245000 | PA      | $266321.30    | 0.56%             | 2056-01-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| City & County of Denver CO Airport System Revenue                                | DENVER CITY & CNTY CO ARPT REVENUE                           | CUSIP: 249182KP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $114410.86    | 0.24%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                           | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JQF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    201000 | PA      | $146868.35    | 0.31%             | 2033-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Maricopa County & Phoenix Industrial Development Authorities                     | MARICOPA CNTY & PHOENIX AZ INDL DEV AUTHORITIES MTGE REVENUE | CUSIP: 566736JT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $238226.13    | 0.50%             | 2040-09-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Allegheny County Airport Authority                                               | ALLEGHENY CNTY PA ARPT AUTH ARPT REVENUE                     | CUSIP: 01728LKN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $230326.55    | 0.48%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Finance Authority of Maine                                                       | MAINE ST FIN AUTH SOL WST DISP REVENUE                       | CUSIP: 56042CAY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $96908.98     | 0.20%             | 2047-12-01      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade FL Aviation Revenue                                         | MIAMI-DADE CNTY FL AVIATION REVENUE                          | CUSIP: 59333PR75<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $249981.38    | 0.52%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                              | PENNSYLVANIA ST HSG FIN AGY MF HSG REVENUE                   | CUSIP: 708797AN5<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |    181852 | PA      | $173010.21    | 0.36%             | 2035-08-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Town of Bennett CO Wastewater Revenue                                            | BENNETT CO WSTWTR REVENUE                                    | CUSIP: 082162AS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $257342.78    | 0.54%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505RP3<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    250000 | PA      | $257582.53    | 0.54%             | 2042-12-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| State of Washington                                                              | WASHINGTON ST                                                | CUSIP: 93974EXX9<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |    100000 | PA      | $101900.92    | 0.21%             | 2046-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cleveland County Home Loan Authority                                             | CLEVELAND CNTY OK HOME LOAN AUTH SF MTGE REVENUE             | CUSIP: 186047JJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $275367.93    | 0.58%             | 2056-01-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Stamford Housing Authority                                                       | STAMFORD CT HSG AUTH                                         | CUSIP: 852640AC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101210.30    | 0.21%             | 2030-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                                 | FLORIDA ST DEV FIN CORP EDUCTNL FACS REVENUE                 | CUSIP: 34061UNE4<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    250000 | PA      | $252176.83    | 0.53%             | 2035-06-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Education Assistance Agency                                  | PENNSYLVANIA HGR EDU ASSISTANCE AGY LOAN REVENUE             | CUSIP: 70878CBS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $101814.77    | 0.21%             | 2046-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| County of Lee FL Airport Revenue                                                 | LEE CNTY FL ARPT REVENUE                                     | CUSIP: 523470HD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $236355.00    | 0.50%             | 2038-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Lanterns Metropolitan District No 1                                              | LANTERNS MET DIST #1 CO                                      | CUSIP: 51654AAP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $265389.18    | 0.56%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Midway International Airport                                             | CHICAGO IL MIDWAY ARPT REVENUE                               | CUSIP: 167562TR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $261658.25    | 0.55%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rhode Island Student Loan Authority                                              | RHODE ISLAND ST STUDENT LOAN AUTH LOAN REVENUE               | CUSIP: 762323DK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $263798.33    | 0.55%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Downtown Revitalization Public Infrastructure District                           | DOWNTOWN REVITALIZATION PUBLIC INFRASTRUCTURE DIST UT SALES  | CUSIP: 26118TBW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100325.76    | 0.21%             | 2035-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                         | ARIZONA ST INDL DEV AUTH NATIONAL CHRT SCH REVOLVING LOAN FD | CUSIP: 04052FAU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    190000 | PA      | $192237.19    | 0.40%             | 2038-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City Center West Residential Metropolitan District No 2                          | CITY CTR WEST RSDL MET DIST #2 CO                            | CUSIP: 17776QAM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $102938.24    | 0.22%             | 2045-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PZC2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    310000 | PA      | $329170.59    | 0.69%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                               | SOUTH CAROLINA ST JOBS-ECON DEV AUTH ECON DEV REVENUE        | CUSIP: 837031H63<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    100000 | PA      | $99013.44     | 0.21%             | 2062-03-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Springfield MO Public Utility Revenue                                    | SPRINGFIELD MO PUBLIC UTILITY REVENUE                        | CUSIP: 851018KZ3<br>LEI: NDLRXEC1F2GZZETPKO45 | Long             | DBT              | MUN               | US        |    250000 | PA      | $250146.28    | 0.53%             | 2036-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Hawaii Harbor System Revenue                                            | HAWAII ST HARBOR SYS REVENUE                                 | CUSIP: 41981THG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $212581.31    | 0.45%             | 2036-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Rhode Island Student Loan Authority                                              | RHODE ISLAND ST STUDENT LOAN AUTH LOAN REVENUE               | CUSIP: 762323DL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     65000 | PA      | $58759.62     | 0.12%             | 2043-12-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                           | CALIFORNIA STWD CMNTYS DEV AUTH REVENUE                      | CUSIP: 13080SX82<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |     85000 | PA      | $89135.90     | 0.19%             | 2028-09-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL                                                               | CHICAGO IL                                                   | CUSIP: 167486R68<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    130000 | PA      | $134701.39    | 0.28%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | ILLINOIS ST FIN AUTH STUDENT HSG & ACADEMIC FAC REVENUE      | CUSIP: 45203KAN5<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    200000 | PA      | $197546.72    | 0.41%             | 2037-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arlington Higher Education Finance Corp                                          | ARLINGTON TX HGR EDU FIN CORP EDU REVENUE                    | CUSIP: 0418067P9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $256949.40    | 0.54%             | 2042-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mirabelle Metropolitan District No 2                                             | MIRABELLE MET DIST #2 CO                                     | CUSIP: 60458HAU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $107490.31    | 0.23%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp                              | NEW HOPE CULTURAL ED FACS FIN CORP TX RETIREMENT FAC REVENUE | CUSIP: 64542UHK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100354.88    | 0.21%             | 2030-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Bromley Park Metropolitan District No 3                                          | BROMLEY PARK MET DIST NO 3 CO                                | CUSIP: 11222PAL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $232000.27    | 0.49%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chesapeake Hospital Authority                                                    | CHESAPEAKE VA HOSP AUTH HOSP FAC REVENUE                     | CUSIP: 16532VBM5<br>LEI: 549300MDFV8QY288K198 | Long             | DBT              | MUN               | US        |    320000 | PA      | $310282.78    | 0.65%             | 2036-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                        | INDIANA ST FIN AUTH HLTH SYS REVENUE                         | CUSIP: 45470YDH1<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    250000 | PA      | $250091.68    | 0.53%             | 2041-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Adams & Arapahoe Counties Joint School District 28J Aurora                       | ADAMS & ARAPAHOE CNTYS CO JT SCH DIST #28J AURORA COPS       | CUSIP: 005484DA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $114828.09    | 0.24%             | 2043-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Maine Health & Higher Educational Facilities Authority                           | MAINE HLTH & HGR EDUCTNL FACS AUTH REVENUE                   | CUSIP: 56042RMD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $293742.00    | 0.62%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                         | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57584X4L2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    125000 | PA      | $125964.26    | 0.26%             | 2037-10-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| County of Santa Fe NM                                                            | SANTA FE CNTY NM MF REVENUE                                  | CUSIP: 80189NAD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $503051.35    | 1.06%             | 2049-12-10      | Floating      | 3.29%                 | No            |                  2 | On Loan: No      |
| Greater Orlando Aviation Authority                                               | GTR ORLANDO FL AVIATION AUTH ARPT FACS REVENUE               | CUSIP: 392275EJ8<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |    250000 | PA      | $259311.78    | 0.54%             | 2042-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Salt Lake City UT Airport Revenue                                        | SALT LAKE CITY UT ARPT REVENUE                               | CUSIP: 795576FX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    295000 | PA      | $293323.99    | 0.62%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hillsborough County Aviation Authority                                           | HILLSBOROUGH CNTY FL AVIATION AUTH                           | CUSIP: 432308N75<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $188976.58    | 0.40%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116GU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    245000 | PA      | $250861.26    | 0.53%             | 2042-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| EP Cimarron Ventanas PFC                                                         | EP CIMARRON VENTANAS PFC TX RSDL DEV REVENUE                 | CUSIP: 26879QAM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $246187.40    | 0.52%             | 2034-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Westfield-Washington Multi-School Building Corp                                  | WESTFIELD-WASHINGTON IN MULTI-SCH BLDG CORP                  | CUSIP: 96023PPG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $261156.75    | 0.55%             | 2043-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Duluth Economic Development Authority                                            | DULUTH MN ECON DEV AUTH HLTH CARE FACS REVENUE               | CUSIP: 26444CGX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $153411.17    | 0.32%             | 2037-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas Municipal Gas Acquisition & Supply Corp V                                  | TEXAS ST MUNI GAS ACQUISITION & SPLY CORP V GAS SPLY REVENUE | CUSIP: 88256RAK2<br>LEI: 254900XZ4J30QIJO9G03 | Long             | DBT              | MUN               | US        |    250000 | PA      | $265961.13    | 0.56%             | 2055-01-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Economic Development Finance Authority                                  | KENTUCKY ST ECON DEV FIN AUTH                                | CUSIP: 49126PGN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $131795.69    | 0.28%             | 2032-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Industrial Development Board of the City of Mobile Alabama                       | MOBILE AL INDL DEV BRD POLL CONTROL REVENUE                  | CUSIP: 607167DX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $150392.55    | 0.32%             | 2034-07-15      | Floating      | 3.30%                 | No            |                  2 | On Loan: No      |
| King County Housing Authority                                                    | KING CNTY WA HSG AUTH                                        | CUSIP: 494759TA1<br>LEI: 549300TZU8KSWALVD392 | Long             | DBT              | MUN               | US        |    170000 | PA      | $170788.24    | 0.36%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Monroe & St Clair Counties Community Unit School District No 4 Columbia/IL       | MONROE & SAINT CLAIR CNTYS IL CMNTY UNIT SCH DIST #4 COLUMBI | CUSIP: 610251EM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100068.42    | 0.21%             | 2040-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116JC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $269528.80    | 0.57%             | 2040-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                               | SOUTH CAROLINA ST JOBS-ECON DEV AUTH SOL WST DISP REVENUE    | CUSIP: 83704DAP1<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    105000 | PA      | $105241.20    | 0.22%             | 2027-12-15      | Floating      | 3.70%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp                                           | NEW YORK CITY NY HSG DEV CORP MF MTGE REVENUE                | CUSIP: 64966TGW8<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    100000 | PA      | $102948.47    | 0.22%             | 2031-12-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | ILLINOIS FIN AUTH SURFACE FREIGHT TRANSFER FACS REVENUE      | CUSIP: 45203PAD6<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    200000 | PA      | $200137.20    | 0.42%             | 2043-12-01      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| Florida Local Government Finance Commission                                      | FLORIDA LOC GOVT FIN COMMISSION SENIOR LIVING REVENUE        | CUSIP: 34077UAL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $201009.98    | 0.42%             | 2031-11-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| New Mexico Municipal Energy Acquisition Authority                                | NEW MEXICO ST MUNI ENERGY ACQUISITION AUTH GAS SPLY          | CUSIP: 647207BL2<br>LEI: 549300KZGG2YNDKKCE92 | Long             | DBT              | MUN               | US        |    100000 | PA      | $106644.57    | 0.22%             | 2054-06-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                            | PENNSYLVANIA ST ECON DEV FING AUTH REVENUE                   | CUSIP: 70869PHV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $502500.45    | 1.06%             | 2034-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rhode Island Health and Educational Building Corp                                | RHODE ISLAND ST HLTH & EDUCTNL BLDG CORP REVENUE             | CUSIP: 762244FN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $115614.51    | 0.24%             | 2036-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Juban Crossing Economic Development District                                     | JUBAN CROSSING ECON DEV DIST LA REVENUE                      | CUSIP: 48125RBZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $266983.63    | 0.56%             | 2036-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Vermont Student Assistance Corp                                                  | VERMONT ST STUDENT ASSISTANCECORP EDU LOAN REVENUE           | CUSIP: 92428CNB6<br>LEI: 549300VHYVRSKNFRSZ91 | Long             | DBT              | MUN               | US        |    250000 | PA      | $263221.33    | 0.55%             | 2033-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Halifax Hospital Medical Center                                                  | HALIFAX FL HOSP MED CTR                                      | CUSIP: 405815LG4<br>LEI: 549300H6HDJUXLEMUW23 | Long             | DBT              | MUN               | US        |    125000 | PA      | $125378.14    | 0.26%             | 2036-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI STUDENT HSG REVENUE                       | CUSIP: 74439YGE5<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    145000 | PA      | $150874.99    | 0.32%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                | ILLINOIS ST                                                  | CUSIP: 4521526L0<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    250000 | PA      | $260480.28    | 0.55%             | 2039-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Erie Higher Education Building Authority                                 | ERIE PA HGR EDU BLDG AUTH                                    | CUSIP: 295435DW8<br>LEI: 549300JDMWBZICIGLV66 | Long             | DBT              | MUN               | US        |    100000 | PA      | $99534.11     | 0.21%             | 2033-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Iowa Student Loan Liquidity Corp                                                 | IOWA ST STUDENT LOAN LIQUIDITY CORP                          | CUSIP: 462590NY2<br>LEI: 549300FO1LWVSZKGJK70 | Long             | DBT              | MUN               | US        |    250000 | PA      | $265589.38    | 0.56%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mission Economic Development Corp                                                | MISSION TX ECON DEV CORP SOL WST DISP REVENUE                | CUSIP: 605155BM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100011.00    | 0.21%             | 2026-01-01      | Floating      | 3.85%                 | No            |                  2 | On Loan: No      |
| Hospitals & Higher Education Facilities Authority of Philadelphia/The            | PHILADELPHIA PA HOSPS & HGR EDU FACS AUTH                    | CUSIP: 717825PZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $121471.49    | 0.26%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority Aviation Revenue                      | MET WASHINGTON DC ARPTS AUTH ARPT SYS REVENUE                | CUSIP: 592647FK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $117540.84    | 0.25%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp                              | NEW HOPE CULTURAL ED FACS FIN CORP TX RETIREMENT FAC REVENUE | CUSIP: 64542UGZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $169256.05    | 0.36%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado Educational & Cultural Facilities Authority                             | COLORADO EDUCTNL & CULTURAL AUTH REVENUE                     | CUSIP: 19645UUT9<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |    100000 | PA      | $101047.74    | 0.21%             | 2045-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Horace ND                                                                | HORACE ND                                                    | CUSIP: 440365HP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $129210.65    | 0.27%             | 2038-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority                                     | NEW YORK NY CITY TRANSITIONAL FIN AUTH REV                   | CUSIP: 64972JDL9<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |    250000 | PA      | $226199.35    | 0.47%             | 2042-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City & County of Denver CO Airport System Revenue                                | DENVER CITY & CNTY CO ARPT REVENUE                           | CUSIP: 249182QK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $161237.13    | 0.34%             | 2034-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Education Assistance Agency                                  | PENNSYLVANIA HGR EDU ASSISTANCE AGY LOAN REVENUE             | CUSIP: 70878CBH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $129340.17    | 0.27%             | 2045-06-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corp                                                | TOBACCO SETTLEMENT FING CORP NJ                              | CUSIP: 888808HR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $212758.13    | 0.45%             | 2046-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                                      | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE            | CUSIP: 56035DJJ2<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    250000 | PA      | $267502.43    | 0.56%             | 2055-05-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                   | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE            | CUSIP: 09182TEV5<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    110000 | PA      | $112522.45    | 0.24%             | 2056-05-01      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                | SOUTHEAST ENERGY AUTHORITY A COOPERATIVE                     | CUSIP: 84136HAU7<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    250000 | PA      | $258534.15    | 0.54%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cook County Community School District No 152 1/2 Hazel Crest                     | COOK CNTY IL CMNTY SCH DIST #152 1/2 HAZEL CREST             | CUSIP: 215147FD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $323943.75    | 0.68%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tulsa Airports Improvement Trust                                                 | TULSA OK ARPTS IMPT TRUST                                    | CUSIP: 899647SA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    245000 | PA      | $258562.02    | 0.54%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Charlotte County Industrial Development Authority/FL                             | CHARLOTTE CNTY FL INDL DEV AUTH UTILITY SYS REVENUE          | CUSIP: 16080TAJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100774.88    | 0.21%             | 2035-10-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| William Penn School District Authority                                           | WILLIAM PENN PA SCH DIST AUTH SCH REVENUE                    | CUSIP: 969257BE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101591.05    | 0.21%             | 2043-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL                                                               | CHICAGO IL                                                   | CUSIP: 167486S67<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    100000 | PA      | $98246.38     | 0.21%             | 2041-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tulsa County Home Finance Authority                                              | TULSA CNTY OK HOME FIN AUTH                                  | CUSIP: 899517JU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $137132.41    | 0.29%             | 2056-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                         | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57584XFN6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    250000 | PA      | $250215.75    | 0.53%             | 2029-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tucson Industrial Development Authority/Pima County Industrial Development Auth  | TUCSON & PIMA CNTYS AZ INDL DEV AUTHORITIES SF MTGE REVENUE  | CUSIP: 898700HP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $275444.03    | 0.58%             | 2055-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Atlanta Urban Residential Finance Authority                                      | ATLANTA GA URBAN RSDL FIN AUTH MF HSG REVENUE                | CUSIP: 04785VBX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101476.52    | 0.21%             | 2029-02-01      | Floating      | 3.40%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                        | INDIANA ST FIN AUTH REVENUE                                  | CUSIP: 45506ENW9<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    120000 | PA      | $124998.05    | 0.26%             | 2036-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                           | CALIFORNIA ST MUNI FIN AUTH REVENUE                          | CUSIP: 13048V3D8<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    250000 | PA      | $258945.93    | 0.54%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wayne County Airport Authority                                                   | WAYNE CNTY MI ARPT AUTH REVENUE                              | CUSIP: 944514XP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $247138.08    | 0.52%             | 2042-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lower Colorado River Authority                                                   | LOWER COLORADO RIVER TX AUTH TRANSMISSION CONTRACT REVENUE   | CUSIP: 54811BWW7<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |    230000 | PA      | $229997.72    | 0.48%             | 2046-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Finance Authority of Maine                                                       | MAINE ST FIN AUTH LOAN REVENUE                               | CUSIP: 56042TEP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $71308.51     | 0.15%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Lawrence Community Schools Building Corp                                   | N LAWRENCE IN CMNTY SCHS BLDGCORP                            | CUSIP: 66042RFH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $103612.57    | 0.22%             | 2038-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116FG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $217415.46    | 0.46%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EP Cimarron Ventanas PFC                                                         | EP CIMARRON VENTANAS PFC TX RSDL DEV REVENUE                 | CUSIP: 26879QAN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $18701.42     | 0.04%             | 2039-12-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | CUSIP: 65000B7W2<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    175000 | PA      | $178394.76    | 0.37%             | 2044-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                      | CUSIP: 64613CGD4<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    250000 | PA      | $255935.05    | 0.54%             | 2042-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Buckeye Tobacco Settlement Financing Authority                                   | BUCKEYE OH TOBACCO SETTLEMENT FING AUTH                      | CUSIP: 118217CP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $261971.40    | 0.55%             | 2033-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia Housing Finance Agency                                      | DIST OF COLUMBIA HSG FIN AGY MF HSG MTGE REVENUE             | CUSIP: 25477TBB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $104733.52    | 0.22%             | 2029-03-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Margaretta Local School District                                                 | MARGARETTA OH LOCAL SCH DIST COPS                            | CUSIP: 566575AM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $157369.86    | 0.33%             | 2037-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Utah Charter School Finance Authority                                            | UTAH ST CHRT SCH FIN AUTH CHRT SCH REVENUE                   | CUSIP: 91754T3U5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $154693.19    | 0.32%             | 2040-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Board of Water Commissioners City & County of Denver/The                         | DENVER CITY & CNTY CO BRD OF WTR COMMISSIONERS WTR REVENUE   | CUSIP: 24916PGB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $210941.75    | 0.44%             | 2047-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                         | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57585BJP4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    195000 | PA      | $208573.64    | 0.44%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                                      | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE            | CUSIP: 56035DGT3<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    210000 | PA      | $224282.71    | 0.47%             | 2054-05-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Minneapolis MN                                                           | MINNEAPOLIS MN HLTH CARE SYS REVENUE                         | CUSIP: 60374VEA7<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |    160000 | PA      | $163471.38    | 0.34%             | 2035-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Authority                                                          | CAPITAL TRUST AUTH FL EDUCTNL FACS REVENUE                   | CUSIP: 14054WBT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $95845.97     | 0.20%             | 2040-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                                 | MINNESOTA ST HSG FIN AGY                                     | CUSIP: 60416TQ68<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    235000 | PA      | $251669.11    | 0.53%             | 2053-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-16

**Name of Applicant:** MFS Active Exchange Traded Funds Trust

**Signature:** James Byrne

**Name of Signer:** James Byrne

**Title:** Assistant Treasurer