# EDGAR Filing Document

**Accession Number:** 0000906236
**File Stem:** 0000940400-25-005608
**Filing Date:** 2025-10
**Character Count:** 93711
**Document Hash:** 52f5e84b86174a10db205f379047c768
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-005608.hdr.sgml**: 20251029

**ACCESSION NUMBER**: 0000940400-25-005608

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250829

**FILED AS OF DATE**: 20251029

**DATE AS OF CHANGE**: 20251029

**PERIOD START**: 20250831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VOYAGEUR MUTUAL FUNDS
- **CENTRAL INDEX KEY:** 0000906236

**ORGANIZATION NAME:**
- **EIN:** 411720518
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07742
- **FILM NUMBER:** 251429325

**BUSINESS ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354
- **BUSINESS PHONE:** 18005231918

**MAIL ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VOYAGEUR MUTUAL FUNDS INC
- **DATE OF NAME CHANGE:** 19930714

## Series and Classes Contracts Data

### Macquarie Minnesota High-Yield Municipal Bond Fund (Series ID: S000002412)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000006409 | Class A             | DVMHX           |
| C000006411 | Class C             | DVMMX           |
| C000135925 | Institutional Class | DMHIX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Voyageur Mutual Funds

- **b. Investment Company Act file number:** 811-07742

- **c. CIK number of Registrant:** 0000906236

- **d. LEI of Registrant:** 549300D8BQFTKREY6O09

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

  - **Street Address 1:** 100 Independence

  - **City:** Philadelphia

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19106

  - **Telephone number:** 800-523-1918

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

- **a. Name of Series:** Macquarie Minnesota High-Yield Municipal Bond Fund

- **b. EDGAR series identifier (if any):** S000002412

- **c. LEI of Series:** YBLW7P81WLFJTSTCRO52

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

- **a. Date of fiscal year-end:** 2025-08-31

- **b. Date as of which information is reported:** 2025-08-29

**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:** $217049972.24

**Total Liabilities:** $1032110.77

**Net Assets:** $216017861.47

**Cash Not Reported:** $373975.96

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 97.58034000 | **1-Year:** 1083.65674000 | **5-Year:** 11881.10984000 | **10-Year:** 155889.14118000 | **30-Year:** 16616.51266000

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

- **3-Month:** 29.51730000 | **1-Year:** 261.35646000 | **5-Year:** 2949.94749000 | **10-Year:** 23253.22239000 | **30-Year:** 1697.24722000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000006409 | 0.64%                | -1.12%               | 0.97%                |
| Class ID C000006411 | 0.57%                | -1.18%               | 0.80%                |
| Class ID C000135925 | 0.66%                | -1.10%               | 0.89%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-865462.23              | $1481880.35                                |
| Month 2  | $-4160.71                | $-3136719.49                               |
| Month 3  | $-581.46                 | $1246281.02                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Health & Education Facilities Authority                  | CUSIP: 60416H3Z5<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2588460.00   | 1.20%             | 2047-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DILWORTH-GLYNDON-FELTON MN IND | Dilworth Glyndon Felton Independent School District No 2164        | CUSIP: 254278KU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $184448.25    | 0.09%             | 2041-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| STILLWATER MN MF REVENUE       | City of Stillwater MN                                              | CUSIP: 860770BE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $689745.00    | 0.32%             | 2042-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue             | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1405000 | PA      | $1261718.10   | 0.58%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| RAMSEY CNTY MN                 | County of Ramsey MN                                                | CUSIP: 751622XZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $480905.00    | 0.22%             | 2042-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WAYZATA MN SENIOR HSG REVENUE  | City of Wayzata MN                                                 | CUSIP: 946829BP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $297363.50    | 0.14%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN CHARTER SCH LEA | City of Minneapolis MN                                             | CUSIP: 60375CBZ6<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   1130000 | PA      | $918305.80    | 0.43%             | 2052-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR | Puerto Rico Electric Power Authority                               | CUSIP: 74526QWE8<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    370000 | PA      | $245587.50    | 0.11%             | 2036-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ROCHESTER MN HLTH CARE FACS RE | City of Rochester MN                                               | CUSIP: 771902HP1<br>LEI: 549300006EX3INSHXA95 | Long             | DBT              | MUN               | US        |   1605000 | PA      | $1468767.60   | 0.68%             | 2050-11-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Health & Education Facilities Authority                  | CUSIP: 60416H7G3<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    300000 | PA      | $300345.00    | 0.14%             | 2037-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 852297BX7<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   1620000 | PA      | $1501837.20   | 0.70%             | 2036-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAINT CLOUD MN HLTH CARE REVEN | City of St Cloud MN                                                | CUSIP: 78916VDW7<br>LEI: 549300IOO80ICGIWAU74 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $1919722.50   | 0.89%             | 2049-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Health & Education Facilities Authority                  | CUSIP: 60416JDV9<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    365000 | PA      | $298544.45    | 0.14%             | 2040-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| EAGAN MN CHRTR SCH LEASE REVEN | City of Eagan MN                                                   | CUSIP: 26940AAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    640000 | PA      | $611865.60    | 0.28%             | 2045-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue             | CUSIP: 74529JRK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2587500.00   | 1.20%             | 2053-07-01      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR | Puerto Rico Electric Power Authority                               | CUSIP: 74526QVC3<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    585000 | PA      | $388293.75    | 0.18%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN & SAINT PAUL MN | City of Minneapolis MN/St Paul Housing & Redevelopment Authority   | CUSIP: 603695KD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2057640.00   | 0.95%             | 2042-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WOODBURY MN CHRT SCH LEASE REV | City of Woodbury MN                                                | CUSIP: 979134AT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    890000 | PA      | $712071.20    | 0.33%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR | Puerto Rico Electric Power Authority                               | CUSIP: 74526QXP2<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    130000 | PA      | $85962.50     | 0.04%             | 2024-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 852297CK4<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    440000 | PA      | $396968.00    | 0.18%             | 2052-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SARTELL MN HLTH CARE & HSG FAC | City of Sartell MN                                                 | CUSIP: 803807BJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $344515.50    | 0.16%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Health & Education Facilities Authority                  | CUSIP: 60416H7J7<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $980650.00    | 0.45%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DULUTH MN ECON DEV AUTH HLTH C | Duluth Economic Development Authority                              | CUSIP: 26444CJF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    380000 | PA      | $392015.60    | 0.18%             | 2033-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN STUDENT HSG REV | City of Minneapolis MN                                             | CUSIP: 60379NCL8<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |    570000 | PA      | $498225.60    | 0.23%             | 2053-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                        | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   1525416 | PA      | $959105.15    | 0.44%             | 2043-11-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY       | Minnesota Housing Finance Agency                                   | CUSIP: 60416TGV4<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $811700.00    | 0.38%             | 2046-07-01      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| OTSEGO CHRT SCH LEASE REVENUE  | City of Otsego MN                                                  | CUSIP: 689149AC6<br>LEI: 549300C7IZXQ4JXHZS47 | Long             | DBT              | MUN               | US        |   1435000 | PA      | $1201841.20   | 0.56%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 852297BY5<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1006525.00   | 0.47%             | 2047-09-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Health & Education Facilities Authority                  | CUSIP: 60416HF74<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100016.00    | 0.05%             | 2026-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ROCHESTER MN HLTH CARE FACS RE | City of Rochester MN                                               | CUSIP: 771902HQ9<br>LEI: 549300006EX3INSHXA95 | Long             | DBT              | MUN               | US        |   2215000 | PA      | $2031487.25   | 0.94%             | 2053-11-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| STILLWATER MN INDEP SCH DIST # | Stillwater Independent School District No 834                      | CUSIP: 860758TB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    435000 | PA      | $420397.05    | 0.19%             | 2041-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Health & Education Facilities Authority                  | CUSIP: 60416JBH2<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    920000 | PA      | $828450.80    | 0.38%             | 2038-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DAKOTA CNTY MN CMNTY DEV AGY S | Dakota County Community Development Agency                         | CUSIP: 23410LBX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1995000 | PA      | $1702991.85   | 0.79%             | 2051-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST OFFICE OF HGR EDU | Minnesota Office of Higher Education                               | CUSIP: 60416MCA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $231345.00    | 0.11%             | 2042-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN CHARTER SCH LEA | City of Minneapolis MN                                             | CUSIP: 60375CBY9<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |    690000 | PA      | $592999.80    | 0.27%             | 2042-07-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN CHARTER SCH LEA | City of Minneapolis MN                                             | CUSIP: 60375CCA0<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |    880000 | PA      | $701280.80    | 0.32%             | 2057-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MINNESOTA MUNI GAS AGY COMMODI | Minnesota Municipal Gas Agency                                     | CUSIP: 60406UAM9<br>LEI: 549300SISI6N1C6S3136 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1016780.00   | 0.47%             | 2052-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| SHAKOPEE MN HLTH CARE FACS REV | City of Shakopee MN                                                | CUSIP: 819175BK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $130000.00    | 0.06%             | 2031-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WAYZATA MN SENIOR HSG REVENUE  | City of Wayzata MN                                                 | CUSIP: 946829BN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $367964.00    | 0.17%             | 2039-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SHAKOPEE MN HLTH CARE FACS REV | City of Shakopee MN                                                | CUSIP: 819175BJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $105023.10    | 0.05%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FOREST LAKE MN CHARTER SCH LEA | City of Forest Lake MN                                             | CUSIP: 345856AJ7<br>LEI: 549300YEG0ZNW83BJB14 | Long             | DBT              | MUN               | US        |    585000 | PA      | $584976.60    | 0.27%             | 2044-08-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| HAM LAKE MN CHRT SCH LEASE REV | City of Ham Lake MN                                                | CUSIP: 406511AC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    710000 | PA      | $586552.30    | 0.27%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Health & Education Facilities Authority                  | CUSIP: 60416JBY5<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    450000 | PA      | $473107.50    | 0.22%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST                   | State of Minnesota                                                 | CUSIP: 60412AC35<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1143270.00   | 0.53%             | 2032-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DEEPHAVEN MN HSG & HLTHCARE    | Deephaven Housing & Healthcare                                     | CUSIP: 24379CAH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    335000 | PA      | $305124.70    | 0.14%             | 2038-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EAGAN MN CHRTR SCH LEASE REVEN | City of Eagan MN                                                   | CUSIP: 26940AAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $653604.00    | 0.30%             | 2055-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| COLOGNE MN CHRT SCH LEASE REVE | City of Cologne MN                                                 | CUSIP: 195239AH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $220103.40    | 0.10%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN PORT AUTH SOL WS | St Paul Port Authority                                             | CUSIP: 79307RAB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5350000 | PA      | $5000377.50   | 2.31%             | 2037-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| COLOGNE MN CHRT SCH LEASE REVE | City of Cologne MN                                                 | CUSIP: 195239AJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $349989.50    | 0.16%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GLENCOE MN HLTHCARE FACS REVEN | City of Glencoe MN                                                 | CUSIP: 378160BW4<br>LEI: 549300YD6XHLXYWWYP70 | Long             | DBT              | MUN               | US        |    185000 | PA      | $184937.10    | 0.09%             | 2031-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY       | Minnesota Housing Finance Agency                                   | CUSIP: 60416TH92<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    880000 | PA      | $935114.40    | 0.43%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN HLTH CARE SYS R | City of Minneapolis MN                                             | CUSIP: 60374VDV2<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $968560.00    | 0.45%             | 2044-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA MN                    | City of Virginia MN                                                | CUSIP: 9278722V2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $972760.00    | 0.45%             | 2038-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN & SAINT PAUL MN | City of Minneapolis MN/St Paul Housing & Redevelopment Authority   | CUSIP: 603695KB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1740000 | PA      | $1831228.20   | 0.85%             | 2040-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-SAINT PAUL MN MET  | Minneapolis-St Paul Metropolitan Airports Commission               | CUSIP: 603827N44<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $2921800.00   | 1.35%             | 2054-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HAYWARD HSG & HLTHCARE FACS RE | City of Hayward MN                                                 | CUSIP: 421307AM1<br>LEI: 549300YF6QD4DXUDGL81 | Long             | DBT              | MUN               | US        |     90000 | PA      | $47700.00     | 0.02%             | 2044-10-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST AGRIC & ECON DEVB | Minnesota Agricultural & Economic Development Board                | CUSIP: 6049203E6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $648778.00    | 0.30%             | 2054-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-SAINT PAUL MN MET  | Minneapolis-St Paul Metropolitan Airports Commission               | CUSIP: 603827E28<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | PA      | $346625.40    | 0.16%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DEEPHAVEN MN HSG & HLTHCARE    | Deephaven Housing & Healthcare                                     | CUSIP: 24379CAJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    315000 | PA      | $280224.00    | 0.13%             | 2040-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SARTELL MN HLTH CARE & HSG FAC | City of Sartell MN                                                 | CUSIP: 803807BH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003850.00   | 0.46%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Health & Education Facilities Authority                  | CUSIP: 60416H7L2<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1055000 | PA      | $965567.65    | 0.45%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COTTONWOOD MN REVENUE          | City of Cottonwood MN                                              | CUSIP: 22188TAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1210000 | PA      | $930986.10    | 0.43%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLOGNE MN CHRT SCH LEASE REVE | City of Cologne MN                                                 | CUSIP: 195239AK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    360000 | PA      | $323161.20    | 0.15%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 852297AY6<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1392495.00   | 0.64%             | 2050-07-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| HAM LAKE MN CHRT SCH LEASE REV | City of Ham Lake MN                                                | CUSIP: 406511AB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $223358.10    | 0.10%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WAYZATA MN SENIOR HSG REVENUE  | City of Wayzata MN                                                 | CUSIP: 946829BM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $464860.00    | 0.22%             | 2038-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Health & Education Facilities Authority                  | CUSIP: 60416JBJ8<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1670000 | PA      | $1544416.00   | 0.71%             | 2045-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HIBBING MN INDEP SCH DIST #701 | Hibbing Independent School District No 701                         | CUSIP: 428599AQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $400295.00    | 0.19%             | 2041-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN & SAINT PAUL MN | City of Minneapolis MN/St Paul Housing & Redevelopment Authority   | CUSIP: 603695KA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $276281.20    | 0.13%             | 2039-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WOODBURY MN CHRT SCH LEASE REV | City of Woodbury MN                                                | CUSIP: 979134BB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $941120.00    | 0.44%             | 2065-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SARTELL MN HLTH CARE & HSG FAC | City of Sartell MN                                                 | CUSIP: 803807AX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $589530.00    | 0.27%             | 2037-09-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| ROCHESTER MN HLTH CARE FACS RE | City of Rochester MN                                               | CUSIP: 771902HS5<br>LEI: 549300006EX3INSHXA95 | Long             | DBT              | MUN               | US        |   2700000 | PA      | $2700000.00   | 1.25%             | 2064-11-15      | Variable      | 2.75%                 | No            |                  2 | On Loan: No      |
| BETHEL MN CHRT SCH LEASE REVEN | City of Bethel MN                                                  | CUSIP: 086759AJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    840000 | PA      | $826669.20    | 0.38%             | 2032-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BRAINERD MN SENIOR HSG & HLTHC | City of Brainerd MN                                                | CUSIP: 10501DAF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1775000 | PA      | $1688184.75   | 0.78%             | 2060-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-SAINT PAUL MN MET  | Minneapolis-St Paul Metropolitan Airports Commission               | CUSIP: 603827F35<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $583842.00    | 0.27%             | 2049-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MORRIS MN HLTH CARE FACS REVEN | City of Morris MN                                                  | CUSIP: 618147AP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1023810.00   | 0.47%             | 2049-08-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| GIBBON MN INDEP SCH DIST #2365 | Gibbon Independent School District No 2365/MN                      | CUSIP: 374627DH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1132887.50   | 0.52%             | 2052-02-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| WAYZATA MN SENIOR HSG REVENUE  | City of Wayzata MN                                                 | CUSIP: 946829BL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $459285.00    | 0.21%             | 2037-08-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN                 | City of Minneapolis MN                                             | CUSIP: 60375BHF6<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   1970000 | PA      | $1699223.50   | 0.79%             | 2038-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BETHEL MN CHRT SCH LEASE REVEN | City of Bethel MN                                                  | CUSIP: 086759AK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $780844.00    | 0.36%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 852297DA5<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $931600.00    | 0.43%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DEEPHAVEN MN HSG & HLTHCARE    | Deephaven Housing & Healthcare                                     | CUSIP: 24379CAL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    185000 | PA      | $149492.95    | 0.07%             | 2048-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT CLOUD MN HLTH CARE REVEN | City of St Cloud MN                                                | CUSIP: 78916VDR8<br>LEI: 549300IOO80ICGIWAU74 | Long             | DBT              | MUN               | US        |    630000 | PA      | $624834.00    | 0.29%             | 2046-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VICTORIA MN HLTH CARE FACS REV | City of Victoria MN                                                | CUSIP: 92627TAT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1269630.00   | 0.59%             | 2039-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DULUTH MN ECON DEV AUTH HLTH C | Duluth Economic Development Authority                              | CUSIP: 26444CHG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6940000 | PA      | $6660387.40   | 3.08%             | 2058-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-SAINT PAUL MN MET  | Minneapolis-St Paul Metropolitan Airports Commission               | CUSIP: 603827Q82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2310000 | PA      | $2331529.20   | 1.08%             | 2049-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-SAINT PAUL MN MET  | Minneapolis-St Paul Metropolitan Airports Commission               | CUSIP: 603827F27<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2150000 | PA      | $2119040.00   | 0.98%             | 2044-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW LONDON ECON DEV AUTH MN PU | City of New London Economic Development Authority                  | CUSIP: 646565AF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    880000 | PA      | $878424.80    | 0.41%             | 2038-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Health & Education Facilities Authority                  | CUSIP: 60416JDA5<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    935000 | PA      | $804689.05    | 0.37%             | 2046-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 852297CD0<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    500000 | PA      | $499635.00    | 0.23%             | 2046-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| APPLE VY MN SENIOR HSG REVENUE | City of Apple Valley MN                                            | CUSIP: 03800RBK1<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |    625000 | PA      | $600206.25    | 0.28%             | 2055-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Health & Education Facilities Authority                  | CUSIP: 60416JGG9<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $986980.00    | 0.46%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FOREST LAKE MN CHARTER SCH LEA | City of Forest Lake MN                                             | CUSIP: 345856AV0<br>LEI: 549300YEG0ZNW83BJB14 | Long             | DBT              | MUN               | US        |    975000 | PA      | $910825.50    | 0.42%             | 2050-08-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| HAM LAKE MN CHRT SCH LEASE REV | City of Ham Lake MN                                                | CUSIP: 406511AP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $589855.50    | 0.27%             | 2047-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR | Puerto Rico Electric Power Authority                               | CUSIP: 74526QVX7<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    295000 | PA      | $195806.25    | 0.09%             | 2040-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ROSEMOUNT MN                   | City of Rosemount MN                                               | CUSIP: 7775773Y1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2930000 | PA      | $2524605.20   | 1.17%             | 2053-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN PORT AUTH DIST E | St Paul Port Authority                                             | CUSIP: 79308GBC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1102882.00   | 0.51%             | 2046-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FOREST LAKE MN CHARTER SCH LEA | City of Forest Lake MN                                             | CUSIP: 345856AE8<br>LEI: 549300YEG0ZNW83BJB14 | Long             | DBT              | MUN               | US        |    125000 | PA      | $125033.75    | 0.06%             | 2026-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN TAX INCR REVENU | City of Minneapolis MN                                             | CUSIP: 603795CY9<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500075.00    | 0.23%             | 2027-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Health & Education Facilities Authority                  | CUSIP: 60416H6L3<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    600000 | PA      | $527388.00    | 0.24%             | 2048-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DULUTH MN ECON DEV AUTH HLTH C | Duluth Economic Development Authority                              | CUSIP: 26444CGZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $361360.00    | 0.17%             | 2043-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| DULUTH MN ECON DEV AUTH HLTH C | Duluth Economic Development Authority                              | CUSIP: 26444CKL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1012000.00   | 0.47%             | 2052-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DULUTH MN ECON DEV AUTH HLTH C | Duluth Economic Development Authority                              | CUSIP: 26444CHF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1972340.00   | 0.91%             | 2058-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                        | CUSIP: 74514L3P0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $826490.00    | 0.38%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Health & Education Facilities Authority                  | CUSIP: 60416JHZ6<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1247850.00   | 0.58%             | 2049-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CASS LAKE MN INDEP SCH DIST #1 | Cass Lake-Bena Independent School District No 115                  | CUSIP: 148087LL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    925000 | PA      | $875281.25    | 0.41%             | 2042-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| APPLE VLY MN SENIOR LIVING REV | City of Apple Valley MN                                            | CUSIP: 03789YDS2<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |    490000 | PA      | $253138.90    | 0.12%             | 2037-01-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SAINT CLOUD MN HLTH CARE REVEN | City of St Cloud MN                                                | CUSIP: 78916VET3<br>LEI: 549300IOO80ICGIWAU74 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2107425.00   | 0.98%             | 2050-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ANOKA MN HLTHCARE & HSG FAC RE | City of Anoka MN                                                   | CUSIP: 03632RAH3<br>LEI: 549300R336CIYVDY0N47 | Long             | DBT              | MUN               | US        |    400000 | PA      | $331528.00    | 0.15%             | 2049-11-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-SAINT PAUL MN MET  | Minneapolis-St Paul Metropolitan Airports Commission               | CUSIP: 603827Q74<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1024910.00   | 0.47%             | 2044-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ST CLOUD MN CHRT SCH LEASE REV | City of St Cloud MN                                                | CUSIP: 788326AD8<br>LEI: 549300IOO80ICGIWAU74 | Long             | DBT              | MUN               | US        |    750000 | PA      | $582067.50    | 0.27%             | 2046-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET COUNCIL MINNEAPOLIS-SAINT  | Metropolitan Council                                               | CUSIP: 5918524L9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $550901.75    | 0.26%             | 2043-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Health & Education Facilities Authority                  | CUSIP: 60416H3Y8<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1205125.00   | 0.56%             | 2037-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 852297DB3<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $957374.00    | 0.44%             | 2055-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST                   | State of Minnesota                                                 | CUSIP: 60412AN41<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3417342.50   | 1.58%             | 2043-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW LONDON ECON DEV AUTH MN PU | City of New London Economic Development Authority                  | CUSIP: 646565AE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    345000 | PA      | $348118.80    | 0.16%             | 2033-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ANOKA-HENNEPIN MN INDEP SCH DI | Anoka-Hennepin Independent School District No 11                   | CUSIP: 0363034T9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $540345.00    | 0.25%             | 2045-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| APPLE VY MN SENIOR HSG REVENUE | City of Apple Valley MN                                            | CUSIP: 03800RBL9<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $960900.00    | 0.44%             | 2065-09-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CASS LAKE MN INDEP SCH DIST #1 | Cass Lake-Bena Independent School District No 115                  | CUSIP: 148087LM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $751216.00    | 0.35%             | 2043-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR | Puerto Rico Electric Power Authority                               | CUSIP: 74526QVZ2<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    105000 | PA      | $69693.75     | 0.03%             | 2026-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BROOKLYN CENTER MN MF HSG REVE | City of Brooklyn Center MN                                         | CUSIP: 113880EG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    632730 | PA      | $442911.06    | 0.21%             | 2035-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Health & Education Facilities Authority                  | CUSIP: 60416JGW4<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    750000 | PA      | $669652.50    | 0.31%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WAYZATA MN SENIOR HSG REVENUE  | City of Wayzata MN                                                 | CUSIP: 946829BJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $150795.00    | 0.07%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BETHEL MN SENIOR HSG REVENUE   | City of Bethel MN                                                  | CUSIP: 08676PBB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $835810.00    | 0.39%             | 2054-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY       | Minnesota Housing Finance Agency                                   | CUSIP: 60416TCQ9<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    635000 | PA      | $409390.85    | 0.19%             | 2051-01-01      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| APPLE VLY MN SENIOR LIVING REV | City of Apple Valley MN                                            | CUSIP: 03789YDT0<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |   1495000 | PA      | $660999.30    | 0.31%             | 2052-01-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| DULUTH MN HSG & REDEV AUTH CHR | Duluth Housing & Redevelopment Authority                           | CUSIP: 264454AH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1311295.00   | 0.61%             | 2048-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WOODBURY MN CHRT SCH LEASE REV | City of Woodbury MN                                                | CUSIP: 979134AV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    790000 | PA      | $535383.00    | 0.25%             | 2056-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| STHRN MINNESOTA ST MUNI PWR AG | Southern Minnesota Municipal Power Agency                          | CUSIP: 843375C38<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $401972.00    | 0.19%             | 2046-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAPLE GROVE MN HLTH CARE FACS  | City of Maple Grove MN                                             | CUSIP: 56516TBU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1625000 | PA      | $1529011.25   | 0.71%             | 2037-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ROSEMOUNT MN INDEP SCH DIST #1 | Rosemount-Apple Valley-Eagan Independent School District No 196    | CUSIP: 777594ZY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1070000 | PA      | $983233.70    | 0.46%             | 2044-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ST JOSEPH MN SENIOR HSG & HLTH | City of St Joseph MN                                               | CUSIP: 790755AL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $851040.00    | 0.39%             | 2055-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Health & Education Facilities Authority                  | CUSIP: 60416H3W2<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1335450.00   | 0.62%             | 2047-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN SENIOR HSG & HL | City of Minneapolis MN                                             | CUSIP: 603787AN2<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1485834.00   | 0.69%             | 2050-11-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| DEEPHAVEN MN CHARTER SCH LEASE | City of Deephaven MN                                               | CUSIP: 24380HAS1<br>LEI: 5493005IOLNBTFT2MD86 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $969730.00    | 0.45%             | 2050-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 792892HM6<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $898640.00    | 0.42%             | 2043-05-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| WOODBURY MN CHRT SCH LEASE REV | City of Woodbury MN                                                | CUSIP: 979134AU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1140000 | PA      | $801659.40    | 0.37%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Health & Education Facilities Authority                  | CUSIP: 60416H4Y7<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   2350000 | PA      | $2209893.00   | 1.02%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DULUTH MN HSG & REDEV AUTH CHR | Duluth Housing & Redevelopment Authority                           | CUSIP: 264454AG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $612514.00    | 0.28%             | 2038-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CASS LAKE MN INDEP SCH DIST #1 | Cass Lake-Bena Independent School District No 115                  | CUSIP: 148087LK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $362760.00    | 0.17%             | 2041-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DULUTH MN ECON DEV AUTH HLTH C | Duluth Economic Development Authority                              | CUSIP: 26444CHE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1590000 | PA      | $1547626.50   | 0.72%             | 2053-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-SAINT PAUL MN MET  | Minneapolis-St Paul Metropolitan Airports Commission               | CUSIP: 603827Q58<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1036090.00   | 0.48%             | 2042-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Health & Education Facilities Authority                  | CUSIP: 60416JCB4<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    300000 | PA      | $296133.00    | 0.14%             | 2037-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY       | Minnesota Housing Finance Agency                                   | CUSIP: 60416USQ9<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1582112.00   | 0.73%             | 2045-07-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| MAPLE PLAIN MN SR HSG & HLTH C | City of Maple Plain MN                                             | CUSIP: 56531SAR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $865350.00    | 0.40%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN STUDENT HSG REV | City of Minneapolis MN                                             | CUSIP: 60379NCK0<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |    750000 | PA      | $662910.00    | 0.31%             | 2043-08-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BETHEL MN SENIOR HSG REVENUE   | City of Bethel MN                                                  | CUSIP: 08676PAR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1475000 | PA      | $1210798.00   | 0.56%             | 2058-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CROOKSTON MN HLTH CARE FACS RE | City of Crookston MN                                               | CUSIP: 227235BL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1025000 | PA      | $536403.00    | 0.25%             | 2051-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 792909FM0<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   1875000 | PA      | $1809543.75   | 0.84%             | 2047-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHATFIELD MN HLTHCARE & HSG FA | City of Chatfield MN                                               | CUSIP: 161818AR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $203597.50    | 0.09%             | 2039-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 852297CE8<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3501085.00   | 1.62%             | 2051-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SAUK RAPIDS MN HLTH CARE HSG F | City of Sauk Rapids MN                                             | CUSIP: 804359BW6<br>LEI: 549300EEYEG1XIKNKU21 | Long             | DBT              | MUN               | US        |    790000 | PA      | $671365.70    | 0.31%             | 2039-01-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| MET COUNCIL MINNEAPOLIS-SAINT  | Metropolitan Council                                               | CUSIP: 5918524J4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $591006.00    | 0.27%             | 2041-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HUGO MN CHTR SCH LEASE REVENUE | City of Hugo MN                                                    | CUSIP: 444584AJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000150.00   | 0.46%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR | Puerto Rico Electric Power Authority                               | CUSIP: 74526QWX6<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |     85000 | PA      | $56418.75     | 0.03%             | 2027-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| APPLE VLY MN SENIOR LIVING REV | City of Apple Valley MN                                            | CUSIP: 03789YDH6<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |    535000 | PA      | $292521.95    | 0.14%             | 2047-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Health & Education Facilities Authority                  | CUSIP: 60416JCE8<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    100000 | PA      | $86944.00     | 0.04%             | 2044-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RICE CNTY MN                   | County of Rice MN                                                  | CUSIP: 762698LE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1302015.00   | 0.60%             | 2052-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHATFIELD MN HLTHCARE & HSG FA | City of Chatfield MN                                               | CUSIP: 161818AT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1173135.00   | 0.54%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN                 | City of Minneapolis MN                                             | CUSIP: 60375BHE9<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1149096.00   | 0.53%             | 2037-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BETHEL MN HSG AND HLTH CARE FA | City of Bethel MN Housing and Health Care Facilities Revenue       | CUSIP: 08675RAV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $276483.00    | 0.13%             | 2049-03-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| APPLE VY MN SENIOR HSG REVENUE | City of Apple Valley MN                                            | CUSIP: 03800RAT3<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |    840000 | PA      | $672168.00    | 0.31%             | 2053-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST                   | State of Minnesota                                                 | CUSIP: 60412AEM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1325000 | PA      | $1326205.75   | 0.61%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAPLE GROVE MN HLTH CARE FACS  | City of Maple Grove MN                                             | CUSIP: 56516TAY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $284004.00    | 0.13%             | 2035-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HUGO MN CHTR SCH LEASE REVENUE | City of Hugo MN                                                    | CUSIP: 444584AK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    495000 | PA      | $452702.25    | 0.21%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                        | CUSIP: 74514L3M7<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   1070000 | PA      | $993869.50    | 0.46%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Health & Education Facilities Authority                  | CUSIP: 60416JEY2<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    500000 | PA      | $542120.00    | 0.25%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCHESTER MN HLTH CARE & HSG R | City of Rochester MN                                               | CUSIP: 771906CV4<br>LEI: 549300006EX3INSHXA95 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1200204.00   | 0.56%             | 2048-12-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| WHITE BEAR LAKE MN INDEP SCH D | White Bear Lake Independent School District No 624                 | CUSIP: 963439C36<br>LEI: 549300I7BXOUJLASQ618 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $802420.00    | 0.37%             | 2042-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Health & Education Facilities Authority                  | CUSIP: 60416JDW7<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    325000 | PA      | $246112.75    | 0.11%             | 2043-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| APPLE VY MN SENIOR HSG REVENUE | City of Apple Valley MN                                            | CUSIP: 03800RAU0<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1002557.00   | 0.46%             | 2058-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF MINNESOTA MN           | University of Minnesota                                            | CUSIP: 914460QL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $909009.00    | 0.42%             | 2042-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN CHARTER SCH LEA | City of Minneapolis MN                                             | CUSIP: 60375CBV5<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1181642.00   | 0.55%             | 2057-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WESTONKA MN INDEP SCH DIST #27 | Westonka Independent School District No 277                        | CUSIP: 960906GG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1035000 | PA      | $936281.70    | 0.43%             | 2044-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BROOKLYN PK MN CHRT SCH LEASE  | City of Brooklyn Park MN                                           | CUSIP: 114224AQ1<br>LEI: 549300SRSB2KMQNYBB75 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $871180.00    | 0.40%             | 2054-06-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN HLTH CARE SYS R | City of Minneapolis MN                                             | CUSIP: 60374VEV1<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $923970.00    | 0.43%             | 2040-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 852297CG3<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    200000 | PA      | $201298.00    | 0.09%             | 2029-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN                 | City of Minneapolis MN                                             | CUSIP: 60375BHK5<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $786700.00    | 0.36%             | 2042-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN HLTH CARE SYS R | City of Minneapolis MN                                             | CUSIP: 60374VEF6<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $961900.00    | 0.45%             | 2049-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR | Puerto Rico Electric Power Authority                               | CUSIP: 74526QZY1<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    165000 | PA      | $109518.75    | 0.05%             | 2042-07-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 852297AS9<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1426862.50   | 0.66%             | 2050-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-SAINT PAUL MN MET  | Minneapolis-St Paul Metropolitan Airports Commission               | CUSIP: 603827C53<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4016120.00   | 1.86%             | 2044-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST AGRIC & ECON DEVB | Minnesota Agricultural & Economic Development Board                | CUSIP: 6049203D8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2050000 | PA      | $1722840.50   | 0.80%             | 2049-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-SAINT PAUL MN MET  | Minneapolis-St Paul Metropolitan Airports Commission               | CUSIP: 603827E93<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $506435.00    | 0.23%             | 2039-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY       | Minnesota Housing Finance Agency                                   | CUSIP: 60416UCG8<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    350000 | PA      | $335692.00    | 0.16%             | 2066-08-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue             | CUSIP: 74529JQH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5075000 | PA      | $1184555.75   | 0.55%             | 2051-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BETHEL MN CHRT SCH LEASE REVEN | City of Bethel MN                                                  | CUSIP: 086759AL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $610155.00    | 0.28%             | 2047-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY       | Minnesota Housing Finance Agency                                   | CUSIP: 60416T5M6<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    920000 | PA      | $919135.20    | 0.43%             | 2038-07-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue             | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1271000 | PA      | $401699.55    | 0.19%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ELK RIVER MN INDEP SCH DIST #7 | Elk River Independent School District No 728                       | CUSIP: 287425N99<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $435214.80    | 0.20%             | 2040-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| DULUTH MN ECON DEV AUTH REVENU | Duluth Economic Development Authority                              | CUSIP: 26444VAH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1155000 | PA      | $930213.90    | 0.43%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAINT PETER MN INDEP SCH DIST# | St Peter Independent School District No 508                        | CUSIP: 793181KN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $296481.25    | 0.14%             | 2045-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WSTRN MN MUNI PWR AGY          | Western Minnesota Municipal Power Agency                           | CUSIP: 958697KL7<br>LEI: 549300LFJK9CQSN2NJ11 | Long             | DBT              | MUN               | US        |    555000 | PA      | $556792.65    | 0.26%             | 2049-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCHESTER MN HLTH CARE FACS RE | City of Rochester MN                                               | CUSIP: 771902HJ5<br>LEI: 549300006EX3INSHXA95 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1471680.00   | 0.68%             | 2039-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN HLTH CARE SYS R | City of Minneapolis MN                                             | CUSIP: 60374VEU3<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   1900000 | PA      | $1770819.00   | 0.82%             | 2039-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| APPLE VY MN SENIOR HSG REVENUE | City of Apple Valley MN                                            | CUSIP: 03800RAR7<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $931600.00    | 0.43%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 792909FL2<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1292793.00   | 0.60%             | 2043-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N W MULTI-CNTY MN HSG & REDEV  | Northwest Multi-County Housing & Redevelopment Authority           | CUSIP: 667579DA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1275000 | PA      | $1193106.75   | 0.55%             | 2045-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ROCHESTER MN HLTH CARE FACS RE | City of Rochester MN                                               | CUSIP: 771902HM8<br>LEI: 549300006EX3INSHXA95 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002920.00   | 0.46%             | 2057-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 792908CH6<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1610240.00   | 0.75%             | 2048-05-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| WAYZATA MN SENIOR HSG REVENUE  | City of Wayzata MN                                                 | CUSIP: 946829BR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1135075.00   | 0.53%             | 2054-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MORRIS MN HLTH CARE FACS REVEN | City of Morris MN                                                  | CUSIP: 618147AN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $357705.00    | 0.17%             | 2044-08-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| ST BONIFACIUS MN HLTHCARE REVE | City of St Bonifacius MN                                           | CUSIP: 78763EAL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1790000 | PA      | $1739396.70   | 0.81%             | 2060-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN HLTH CARE SYS R | City of Minneapolis MN                                             | CUSIP: 60374VEE9<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   2855000 | PA      | $2321429.05   | 1.07%             | 2048-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR | Puerto Rico Electric Power Authority                               | CUSIP: 74526QXY3<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |     95000 | PA      | $62818.75     | 0.03%             | 2025-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WOODBURY MN CHRT SCH LEASE REV | City of Woodbury MN                                                | CUSIP: 979134BA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2203125.00   | 1.02%             | 2063-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SAINT PETER MN INDEP SCH DIST# | St Peter Independent School District No 508                        | CUSIP: 793181KM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $136620.00    | 0.06%             | 2044-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 852297CZ1<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    715000 | PA      | $683082.40    | 0.32%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHASKA MN ECON DEV AUTH LEASE  | Chaska Economic Development Authority                              | CUSIP: 16166NGK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1110587.50   | 0.51%             | 2054-02-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-SAINT PAUL MN MET  | Minneapolis-St Paul Metropolitan Airports Commission               | CUSIP: 603827L46<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $245545.00    | 0.11%             | 2047-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN HLTH CARE SYS R | City of Minneapolis MN                                             | CUSIP: 60374VDR1<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1252987.50   | 0.58%             | 2032-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BETHEL MN CHRT SCH LEASE REVEN | City of Bethel MN                                                  | CUSIP: 086759AM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $199622.50    | 0.09%             | 2052-07-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| W SAINT PAUL MN HSG & HLTH CAR | City of West St Paul MN                                            | CUSIP: 95568PAP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1281945.00   | 0.59%             | 2049-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DULUTH MN INDEP SCH DIST #709  | Duluth Independent School District No 709                          | CUSIP: 264474JJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $767790.00    | 0.36%             | 2034-03-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN STUDENT HSG REV | City of Minneapolis MN                                             | CUSIP: 60379NBX3<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |    675000 | PA      | $667419.75    | 0.31%             | 2039-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH | Minnesota Health & Education Facilities Authority                  | CUSIP: 60416JJA9<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1325000 | PA      | $1098782.75   | 0.51%             | 2053-10-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR | Puerto Rico Electric Power Authority                               | CUSIP: 74526QYY2<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    650000 | PA      | $431437.50    | 0.20%             | 2027-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH | Housing & Redevelopment Authority of The City of St Paul Minnesota | CUSIP: 792908DG7<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    700000 | PA      | $553322.00    | 0.26%             | 2042-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BETHEL MN HSG AND HLTHCARE REV | City of Bethel MN Housing and Health Care Facilities Revenue       | CUSIP: 08675TAM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1280000 | PA      | $1184883.20   | 0.55%             | 2048-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue             | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1008975.00   | 0.47%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DAKOTA CNTY MN CMNTY DEV AGY M | Dakota County Community Development Agency                         | CUSIP: 23409VFP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $680565.00    | 0.32%             | 2043-05-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST AGRIC & ECON DEVB | Minnesota Agricultural & Economic Development Board                | CUSIP: 6049203C0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $506350.00    | 0.23%             | 2047-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BETHEL MN HSG AND HLTH CARE FA | City of Bethel MN Housing and Health Care Facilities Revenue       | CUSIP: 08675RAU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1053668.00   | 0.49%             | 2044-03-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| HAYWARD MN HLTH CARE FACS REVE | City of Hayward MN                                                 | CUSIP: 421306AB7<br>LEI: 549300YF6QD4DXUDGL81 | Long             | DBT              | MUN               | US        |    750000 | PA      | $571522.50    | 0.26%             | 2034-08-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BROOKLYN PK MN CHRT SCH LEASE  | City of Brooklyn Park MN                                           | CUSIP: 114224AR9<br>LEI: 549300SRSB2KMQNYBB75 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1293480.00   | 0.60%             | 2064-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DULUTH MN ECON DEV AUTH REVENU | Duluth Economic Development Authority                              | CUSIP: 26444VAF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1442715.00   | 0.67%             | 2031-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-29

**Name of Applicant:** Voyageur Mutual Funds

**Signature:** Dan Geatens

**Name of Signer:** Dan Geatens

**Title:** Division Director - Head of US Fund Administration