# EDGAR Filing Document

**Accession Number:** 0000035373
**File Stem:** 0000035402-25-002139
**Filing Date:** 2025-11
**Character Count:** 300808
**Document Hash:** bd9428cbd0e64821988663b2c97f33f1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000035402-25-002139.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0000035402-25-002139

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251125

**DATE AS OF CHANGE**: 20251125

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIDELITY MUNICIPAL TRUST
- **CENTRAL INDEX KEY:** 0000035373

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-02628
- **FILM NUMBER:** 251519364

**BUSINESS ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 617-563-7000

**MAIL ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MUNICIPAL BOND FUND/MA/
- **DATE OF NAME CHANGE:** 19860327

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIDELITY MUNICIPAL BOND FUND INC
- **DATE OF NAME CHANGE:** 19850503

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIDELITY MUNICIPAL BOND FUND LTD
- **DATE OF NAME CHANGE:** 19770201

## Series and Classes Contracts Data

### Fidelity Conservative Income Municipal Bond Fund (Series ID: S000042537)

| Class ID   | Class Name                                                        | Ticker Symbol   |
|:---|:---|:---|
| C000131629 | Fidelity Conservative Income Municipal Bond Fund                  | FMNDX           |
| C000243072 | Fidelity Advisor Conservative Income Municipal Bond Fund: Class Z | FMNHX           |
| C000243073 | Fidelity Advisor Conservative Income Municipal Bond Fund: Class A | FMNFX           |
| C000243074 | Fidelity Advisor Conservative Income Municipal Bond Fund: Class I | FMNGX           |

## Nport-Ex

**Quarterly Holdings Report**

**for**

**Fidelity® Conservative Income Municipal Bond Fund**

**September 30, 2025**

CMB-NPRT3-1125

1.967799.111 ---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Municipal Securities - 101.1%** | &nbsp;&nbsp;**Municipal Securities - 101.1%** | &nbsp;&nbsp;**Municipal Securities - 101.1%** |
|  | Principal<br> Amount (a)<br>| Value ($)<br>|
| Alabama - 4.6%  |  |  |
| Electric Utilities - 0.8% |  |  |
| Mobile AL Indl Dev Board Poll Cont Rev (Alabama Power & Light Proj.) 3.78% tender 6/1/2034 (b) | 875000 | 877270 |
| Mobile AL Indl Dev Board Poll Cont Rev (Alabama Power & Light Proj.) Series 2007 A, 3.375% tender 6/1/2034 (b) | 1045000 | 1060817 |
| Mobile AL Indl Dev Board Poll Cont Rev (Alabama Power & Light Proj.) Series 2008, 3.3% tender 7/15/2034 (b) | 3600000 | 3605267 |
| Walker Cnty AL Economic & Indl Dev Auth Solid Waste Disp Rev (Alabama Power & Light Proj.) Series FIRST 2023, 3.9% 8/1/2063 VRDN (b)(c) | 9300000 | 9300000 |
|  |  | 14843354 |
| General Obligations - 1.8% |  |  |
| Black Belt Energy Gas Dist Ala Gas Supply Rev 4% tender 7/1/2052 (Liquidity Facility Royal Bank of Canada), (Royal Bank of Canada Guaranteed) (b) | 3585000 | 3648424 |
| Black Belt Energy Gas District 5% 5/1/2028 (BP PLC Guaranteed)  | 580000 | 604749 |
| Black Belt Energy Gas District 5.25% 12/1/2025 (Morgan Stanley Guaranteed)  | 335000 | 335995 |
| Black Belt Energy Gas District 5.25% 6/1/2026 (Morgan Stanley Guaranteed)  | 780000 | 789558 |
| Black Belt Energy Gas District 5.25% tender 2/1/2053 (Morgan Stanley Guaranteed) (b) | 12165000 | 12992905 |
| Black Belt Energy Gas District Series 2022 E, 5% 6/1/2026 (Canadian Imperial Bank of Commerce/New York NY Guaranteed)  | 1390000 | 1407433 |
| Black Belt Energy Gas District Series 2023 D 1, 5.5% tender 6/1/2049 (Goldman Sachs Group Inc/The Guaranteed) (b) | 1530000 | 1639768 |
| Black Belt Energy Gas District Series 2023C, 5.5% 6/1/2026 (Goldman Sachs Group Inc/The Guaranteed)  | 570000 | 577839 |
| Black Belt Energy Gas District Series 2023C, 5.5% 6/1/2027 (Goldman Sachs Group Inc/The Guaranteed)  | 245000 | 253525 |
| Black Belt Energy Gas District Series 2025 D, 5% 2/1/2027 (Pacific Life Insurance Co Guaranteed) (d) | 240000 | 246292 |
| Black Belt Energy Gas District Series 2025 D, 5% 8/1/2028 (Pacific Life Insurance Co Guaranteed) (d) | 1090000 | 1148338 |
| Black Belt Energy Gas District Series 2025 D, 5% 8/1/2029 (Pacific Life Insurance Co Guaranteed) (d) | 1200000 | 1282709 |
| Lower Ala Gas Dist Gas Proj Rev 4% tender 12/1/2050 (Goldman Sachs Group Inc/The Guaranteed) (b) | 7200000 | 7214744 |
|  |  | 32142279 |
| Health Care - 0.2% |  |  |
| Health Care Auth For Bapt Hlth Ala Series 2013B, 4.31% 11/1/2042 VRDN (b) | 2923000 | 2923000 |
| Housing - 0.2% |  |  |
| Alabama Hsg Fin Auth Multi Fam Hsg Rev (Cooper Green Homes Proj.) Series 2024 C, 5% tender 2/1/2029 (b) | 2675000 | 2800671 |
| Industrial Development - 0.5% |  |  |
| Decatur AL Indl Dev Brd Exempt (Nucor Corp Proj.) 3.2% 8/1/2036 VRDN (b)(c) | 9426000 | 9426000 |
| Synthetics - 1.0% |  |  |
| Black Belt Energy Gas Dist Ala Gas Supply Rev Participating VRDN Series 2023 XM1110, 3.19% 12/1/2053 (Liquidity Facility Royal Bank of Canada NY) (b)(e) | 3600000 | 3600000 |
| Black Belt Energy Gas District Participating VRDN 3.14% 2/1/2053 (Liquidity Facility Morgan Stanley Bank NA) (b)(e) | 2795000 | 2795000 |
| Black Belt Energy Gas District Participating VRDN 3.19% 2/1/2053 (Liquidity Facility Morgan Stanley Bank NA) (b)(e) | 12515000 | 12515000 |
|  |  | 18910000 |
| Water & Sewer - 0.1% |  |  |
| Jefferson Cnty AL Swr Rev 5% 10/1/2025  | 900000 | 900000 |
| Jefferson Cnty AL Swr Rev 5% 10/1/2026  | 545000 | 557469 |
| Jefferson Cnty AL Swr Rev 5% 10/1/2027  | 500000 | 523270 |
|  |  | 1980739 |
| TOTAL ALABAMA |  | 83026043 |
| Alaska - 0.4%  |  |  |
| General Obligations - 0.1% |  |  |
| Alaska St Gen. Oblig. Series 2025 A, 5% 8/1/2026  | 950000 | 969931 |
| Alaska St Gen. Oblig. Series 2025 A, 5% 8/1/2027  | 325000 | 340160 |
| Alaska St Gen. Oblig. Series 2025 A, 5% 8/1/2028  | 420000 | 449963 |
|  |  | 1760054 |
| Synthetics - 0.3% |  |  |
| Municipality of Anchorage AK Participating VRDN Series 2025 XF3381, 3.04% 2/1/2050 (Liquidity Facility Wells Fargo Bank NA) (b)(c)(e) | 5200000 | 5200000 |
| Transportation - 0.0% |  |  |
| Alaska Airport Series 2021 C, 5% 10/1/2025 (c) | 1075000 | 1075000 |
| TOTAL ALASKA |  | 8035054 |
| Arizona - 2.7%  |  |  |
| Electric Utilities - 0.5% |  |  |
| Coconino Cnty AZ Poll Ctl Corp (Nevada Power Co Proj.) Series 2017A, 4.125% tender 9/1/2032 (b)(c) | 1460000 | 1465219 |
| Maricopa Cnty AZ Pollution Ctl (Arizona Public Service Co Proj.) 3.09% 5/1/2029 VRDN (b) | 3800000 | 3800000 |
| Maricopa Cnty AZ Pollution Ctl (Arizona Public Service Co Proj.) 3.09% 5/1/2029 VRDN (b) | 3100000 | 3100000 |
|  |  | 8365219 |
| Health Care - 0.2% |  |  |
| Maricopa Cnty AZ Ida Rev (Banner Health System Proj.) 5% tender 1/1/2053 (b) | 2390000 | 2415870 |
| Yuma AZ Indl Dev Auth Hosp Rev (Yuma Regional Medical Center Proj.) Series 2024 A, 5% 8/1/2026  | 1125000 | 1145684 |
|  |  | 3561554 |
| Housing - 0.2% |  |  |
| Arizona St Indl Dev Auth Multifamily Hsg Rev 2.76% tender 7/1/2047 (b) | 4510000 | 4476757 |
| Industrial Development - 0.7% |  |  |
| Chandler AZ Indl Deve Auth Idr (Intel Corp Proj.) 5% tender 9/1/2052 (b)(c) | 12550000 | 12763265 |
| Resource Recovery - 0.4% |  |  |
| Phoenix Ariz Indl Dev Auth Solid Waste Disp Rev (Republic Services Inc Proj.) 3.85% tender 12/1/2035 (b)(c) | 6700000 | 6698966 |
| Synthetics - 0.7% |  |  |
| Arizona Ind Dev Auth Multi Fam Hsg Auth Participating VRDN Series 2023 MIZ9157, 3.12% 12/1/2063 (Liquidity Facility Mizuho Capital Markets LLC) (b)(e)(f) | 1905969 | 1905969 |
| Arizona Indl Dev Auth Participating VRDN Series 2023 XF3174, 3.17% 11/1/2041 (Liquidity Facility Mizuho Capital Markets LLC) (b)(e) | 10740000 | 10740000 |
|  |  | 12645969 |
| Transportation - 0.0% |  |  |
| Phoenix AZ Cvc Imp Crp Apr Rev Series 2023, 5% 7/1/2026 (c) | 1155000 | 1173017 |
| TOTAL ARIZONA |  | 49684747 |
| Arkansas - 0.2%  |  |  |
| Industrial Development - 0.2% |  |  |
| Blytheville AR Indl Dev Rev (Nucor Corp Proj.) 3.2% 6/1/2028 VRDN (b)(c) | 3100000 | 3100000 |
| California - 11.2%  |  |  |
| Electric Utilities - 0.1% |  |  |
| Southern CA Pub Pwr Auth Southn Trans Sys Renewal Proj Rev (Southern Ca Pub Pwr Auth Proj.) Series 2025 2, 5% tender 7/1/2053 (b) | 2520000 | 2673606 |
| Escrowed/Pre-Refunded - 0.0% |  |  |
| Port Oakland Calif Rev 5% 5/1/2026 (Escrowed to Maturity) (c) | 5000 | 5069 |
| General Obligations - 0.2% |  |  |
| California Community Choice Financing Authority 5% 12/1/2025 (Athene Annuity And Life Company Guaranteed)  | 1000000 | 1002391 |
| California Community Choice Financing Authority 5% 3/1/2028 (Morgan Stanley Guaranteed)  | 460000 | 480928 |
| California Community Choice Financing Authority 5% 9/1/2028 (Morgan Stanley Guaranteed)  | 1460000 | 1539475 |
|  |  | 3022794 |
| Health Care - 0.1% |  |  |
| California Health Facilities Financing Authority (Providence Health Systems Proj.) Series 2019 C, 5% tender 10/1/2039 (b) | 1700000 | 1700000 |
| Resource Recovery - 1.7% |  |  |
| California Mun Fin Auth Solid Waste Disp Rev (Republic Services Inc Proj.) Series 2021 B, 3.85% tender 7/1/2051 (b)(c) | 3200000 | 3198543 |
| California Mun Fin Auth Solid Waste Disp Rev (Republic Services Inc Proj.) Series 2021A, 3.75% tender 7/1/2041 (b)(c) | 8100000 | 8100000 |
| California Mun Fin Auth Solid Waste Disp Rev (Waste Management Inc Del Proj.) Series 2020B, 3.85% tender 11/1/2041 (b)(c) | 5800000 | 5799439 |
| California Mun Fin Auth Solid Waste Disp Rev (Waste Management Inc Del Proj.) Series 2024B, 3.375% tender 9/1/2050 (b)(c) | 2080000 | 2067130 |
| California Pcf Solid Wst Disp (Republic Services Inc Proj.) Series 2017 A 1, 3.85% tender 11/1/2042 (b)(c)(g) | 5600000 | 5599695 |
| California Pcf Solid Wst Disp (Republic Services Inc Proj.) Series 2023, 3.8% tender 7/1/2043 (b)(c)(g) | 6150000 | 6145534 |
|  |  | 30910341 |
| Synthetics - 7.2% |  |  |
| California Hsg Fin Agcy Ltd Obl Participating VRDN Series 2023 XF3127, 3.17% 6/1/2030 (Liquidity Facility Mizuho Capital Markets LLC) (b)(e) | 1755000 | 1755000 |
| California Multi Fam Hsg Rev Participating VRDN Series 2025 BAML6065, 3.65% 5/15/2036 (Liquidity Facility Bank of America, N.A.) (b)(c)(e) | 18250000 | 18250000 |
| California Statewide Cmntys Dev Auth Multi Fam Hsg Rev Participating VRDN Series 2024 MIZ9162, 3.1% 12/1/2062 (Liquidity Facility Mizuho Capital Markets LLC) (b)(e)(f) | 645000 | 645000 |
| California Stwide Cmnty Mf Rev Participating VRDN 4.3% 11/1/2033 (Liquidity Facility Mizuho Capital Markets LLC) (b)(c)(e) | 9590000 | 9590000 |
| California Stwide Cmnty Mf Rev Participating VRDN 4.3% 12/1/2027 (Liquidity Facility Mizuho Capital Markets LLC) (b)(c)(e) | 14670244 | 14670244 |
| El Paso TX Hsg Fin Auth Participating VRDN Series 2022 MIZ9104, 3.12% 8/1/2062 (Liquidity Facility Mizuho Capital Markets LLC) (b)(e)(f) | 10391875 | 10391875 |
| Los Angeles CA Multi Fam Mtg Rev Participating VRDN Series 2025 MIZ9221, 3.1% 8/4/2028 (Liquidity Facility Mizuho Capital Markets LLC) (b)(e)(f) | 10550000 | 10550000 |
| Los Angeles Cmty Redv Agy Mfhr Participating VRDN Series 2022 MIZ9089, 4.3% 4/15/2042 (Liquidity Facility Mizuho Capital Markets LLC) (b)(c)(e) | 30375000 | 30375001 |
| San Francisco CA Multi Fam Hsg Haynes Apts Participating VRDN Series 2025 CF7033, 2.99% 7/1/2053 (Liquidity Facility Citibank NA) (b)(e) | 8200000 | 8200000 |
| San Francisco City & County Multi Fam Hsg Rev Participating VRDN 3.1% 12/1/2052 (Liquidity Facility Mizuho Capital Markets LLC) (b)(e)(f) | 25415000 | 25415000 |
|  |  | 129842120 |
| Transportation - 1.9% |  |  |
| Los Angeles CA Dept Arpts Rev 5% 5/15/2026 (c) | 7220000 | 7323538 |
| Los Angeles CA Dept Arpts Rev 5% 5/15/2026 (c) | 2285000 | 2317768 |
| Los Angeles CA Dept Arpts Rev 5% 5/15/2027 (c) | 5780000 | 5997436 |
| Los Angeles CA Dept Arpts Rev 5% 5/15/2027 (c) | 4180000 | 4337246 |
| Los Angeles CA Dept Arpts Rev Series 2023 A, 5% 5/15/2026 (c) | 510000 | 517314 |
| Port Oakland Calif Rev Series 2021 H, 5% 5/1/2026 (c) | 1740000 | 1759772 |
| San Diego Cnty CA Reg Arpt Auth Arpt Rev Series 2025 B, 5% 7/1/2028 (c) | 1650000 | 1747281 |
| San Diego Cnty CA Reg Arpt Auth Arpt Rev Series 2025 B, 5% 7/1/2029 (c) | 1595000 | 1719898 |
| San Francisco CA City & County Airports Commission International Airport Revenue Series 2023A, 5% 5/1/2026 (c) | 3760000 | 3808632 |
| San Francisco CA City & County Airports Commission International Airport Revenue Series SECOND 2019H, 5% 5/1/2027 (c) | 3810000 | 3940736 |
|  |  | 33469621 |
| TOTAL CALIFORNIA |  | 201623551 |
| Colorado - 1.2%  |  |  |
| Education - 0.0% |  |  |
| Colorado Edl & Cultural Fac Auth Rev (Mesivta Of Greater Los Angeles Proj.) 3.24% 6/1/2029, LOC Deutsche Bank AG VRDN (b) | 630000 | 630000 |
| Health Care - 0.0% |  |  |
| Colorado Health Facilities Authority (CommonSpirit Health Proj.) 5% 11/1/2025  | 255000 | 255387 |
| Housing - 0.1% |  |  |
| Maiker Hsg Partners Colo Multifamily Hsg Rev Series 2023, 4.5% tender 5/1/2042 (b) | 2017000 | 2031835 |
| Special Tax - 0.0% |  |  |
| Baseline Met Dist No 1 Spl Revcolo Series 2024A, 5% 12/1/2025 (Assured Guaranty Inc Insured)  | 340000 | 341021 |
| Synthetics - 0.5% |  |  |
| Colorado Health Facilities Authority Participating VRDN 3.04% 11/1/2052 (Liquidity Facility JP Morgan Chase Bank NA) (b)(e) | 5880000 | 5880000 |
| Colorado Health Facilities Authority Participating VRDN 3.04% 11/1/2052 (Liquidity Facility JP Morgan Chase Bank NA) (b)(e) | 3000000 | 3000000 |
|  |  | 8880000 |
| Transportation - 0.6% |  |  |
| Denver CO City & Cnty Arpt 5% 11/15/2025 (c) | 2540000 | 2546429 |
| Denver CO City & Cnty Arpt 5.25% 11/15/2026 (c) | 3165000 | 3253045 |
| Denver CO City & Cnty Arpt Series 2018 A, 5% 12/1/2027 (c) | 2825000 | 2954359 |
| Denver CO City & Cnty Arpt Series 2022A, 5% 11/15/2025 (c) | 1555000 | 1558936 |
|  |  | 10312769 |
| TOTAL COLORADO |  | 22451012 |
| Connecticut - 1.5%  |  |  |
| Education - 0.8% |  |  |
| Connecticut St Health & Edl Facs Auth Revenue (Yale University Proj.) 2.8% tender 7/1/2057 (b) | 10995000 | 10986914 |
| Connecticut St Health & Edl Facs Auth Revenue (Yale University Proj.) Series 2010A 3, 2.95% tender 7/1/2049 (b) | 975000 | 976745 |
| Connecticut St Health & Edl Facs Auth Revenue (Yale University Proj.) Series 2017 B2, 3.2% tender 7/1/2037 (b) | 1850000 | 1854207 |
|  |  | 13817866 |
| General Obligations - 0.3% |  |  |
| Connecticut St Spl Tax Oblig 5% 5/1/2026  | 805000 | 816450 |
| New Haven CT Gen. Oblig. Series 2023, 5% 8/1/2026 (Build America Mutual Assurance Co Insured)  | 445000 | 453515 |
| New Haven CT Gen. Oblig. Series 2023, 5% 8/1/2027 (Build America Mutual Assurance Co Insured)  | 415000 | 433131 |
| New Haven CT Gen. Oblig. Series 2024, 5% 8/1/2028 (Assured Guaranty Inc Insured)  | 2905000 | 3095689 |
| West Haven CT BAN 4.25% 3/26/2026  | 1800000 | 1809656 |
|  |  | 6608441 |
| Health Care - 0.4% |  |  |
| Connecticut St Health & Edl Facs Auth Revenue (Yale New Haven Hospital Inc Proj.) Series 2024 A, 5% 7/1/2027  | 2900000 | 3020632 |
| Connecticut St Health & Edl Facs Auth Revenue (Yale New Haven Hospital Inc Proj.) Series 2024 A, 5% 7/1/2028  | 3800000 | 4064690 |
|  |  | 7085322 |
| Special Tax - 0.0% |  |  |
| Connecticut St Spl Tax Oblig Series A, 5% 8/1/2026  | 475000 | 475833 |
| TOTAL CONNECTICUT |  | 27987462 |
| District Of Columbia - 1.3%  |  |  |
| Housing - 0.2% |  |  |
| District Columbia Hsg Fin Mult Series 2024, 3.65% tender 7/1/2028 (b) | 2870000 | 2910607 |
| Synthetics - 0.5% |  |  |
| Washington DC Multi Fam Hsg Auth Participating VRDN Series 2025 CF7039, 3.01% 4/1/2053 (Liquidity Facility Citibank NA) (b)(e) | 8760000 | 8760000 |
| Transportation - 0.6% |  |  |
| Metropolitan Wash DC Arpts Ath Series 2019A, 5% 10/1/2026 (c) | 825000 | 841907 |
| Metropolitan Wash DC Arpts Ath Series 2023 A, 5% 10/1/2026 (c) | 1250000 | 1275619 |
| Metropolitan Wash DC Arpts Ath Series 2023 A, 5% 10/1/2028 (c) | 2335000 | 2483309 |
| Metropolitan Wash DC Arpts Ath Series 2024A, 5% 10/1/2025 (c) | 2000000 | 2000000 |
| Metropolitan Wash DC Arpts Ath Series 2024A, 5% 10/1/2027 (c) | 4445000 | 4637644 |
|  |  | 11238479 |
| Water & Sewer - 0.0% |  |  |
| District Columbia Wtr & Swr Auth Pub Util Rev Series 2022E, 3% tender 10/1/2057 (b) | 855000 | 849934 |
| TOTAL DISTRICT OF COLUMBIA |  | 23759020 |
| Florida - 9.6%  |  |  |
| Escrowed/Pre-Refunded - 0.0% |  |  |
| Greater Orlando Aviation Auth 5% 10/1/2025 (Escrowed to Maturity) (c) | 365000 | 365000 |
| General Obligations - 0.2% |  |  |
| Duval Cnty FL Sch Brd Ctfs Part (Duval Cnty FL Sch Dist Proj.) 5% 7/1/2026 (Assured Guaranty Inc Insured)  | 3115000 | 3171529 |
| Jacksonville Fla Spl Rev (Jacksonville FL Proj.) 5% 10/1/2025  | 290000 | 290000 |
| Pasco Cnty FL Sch Brd Cert of Part (Pasco Cnty FL Sch Dist Proj.) Series 2022 A, 5% 8/1/2026 (Assured Guaranty Inc Insured)  | 665000 | 677725 |
|  |  | 4139254 |
| Health Care - 0.7% |  |  |
| Lee County Industrial Development Authority/FL (Lee Mem Health Sys Fl Hosp Rev Proj.) 3.49% 4/1/2049 VRDN (b) | 11500000 | 11500000 |
| Orange Cnty FL Health Facs Auth Rev (Advent Health Proj.) 5% tender 11/15/2052 (b) | 1815000 | 1858059 |
|  |  | 13358059 |
| Housing - 0.9% |  |  |
| Broward Cty FL Hsg Aut Hsg Rev Series 2023, 4.05% tender 9/1/2056 (b) | 1191000 | 1195994 |
| Escambia Cnty FL Hsg Fin Auth Multifamily Hsg Rev Series 2024, 3.8% tender 6/1/2027 (b) | 4400000 | 4423580 |
| Fla Hsg Fin Corp Multifamily Mtg Rev Series 2023 B, 5% tender 2/1/2027 (b) | 985000 | 991293 |
| Fla Hsg Fin Corp Multifamily Mtg Rev Series 2023 C, 5% tender 12/1/2026 (b) | 705000 | 707128 |
| Florida Hsg Fin Corp Mltfmy Rv Series 2024 E, 3.8% tender 6/1/2042 (b) | 1530000 | 1536467 |
| Miami Dade Cnty FL Hsg Fin Auth Multifamily Hsg Rev 5% tender 10/1/2026 (b) | 4055000 | 4055000 |
| Miami Dade Cnty FL Hsg Fin Auth Multifamily Hsg Rev Series 2023, 3.55% tender 1/1/2027 (b) | 2965000 | 2967457 |
| Polk Cnty FL Hsg Fin Auth Multi Fam Hsg Rev (Episcopal Catholic Apts Proj.) 4.15% tender 12/1/2040 (b) | 1296000 | 1304630 |
|  |  | 17181549 |
| Resource Recovery - 0.6% |  |  |
| Florida Dev Fin Corp Solid Waste Disp Rev (Waste Management Inc Del Proj.) Series 2025A, 3.4% tender 9/1/2050 (b)(c) | 1450000 | 1449464 |
| Hillsborough Cnty FL Sldwst Rec Series A, 5% 9/1/2026 (c) | 1435000 | 1459527 |
| Miami-Dade Cnty FL Ida Sld Waste Disp Rev (Waste Management Inc Del Proj.) Series 2018 B, 4% tender 11/1/2048 (b)(c) | 7500000 | 7499150 |
|  |  | 10408141 |
| Special Tax - 1.4% |  |  |
| Florida Ins Assistance Interlocal Agy Fla Ins Assmt Rev Series 2023 A2, 3.63% 9/1/2032 (Liquidity Facility Florida St) VRDN (b) | 24940000 | 24940000 |
| Synthetics - 5.4% |  |  |
| Florida Dev Fin Corp Rev Participating VRDN 4.15% 7/1/2053 (Liquidity Facility Barclays Bank PLC) (b)(c)(e) | 4800000 | 4800000 |
| Florida Dev Fin Corp Rev Participating VRDN Series 2024 XF1704, 3.09% 7/1/2053 (Liquidity Facility Royal Bank of Canada NY) (b)(c)(e) | 19065000 | 19065001 |
| Gallery Smathers Plz FL Participating VRDN Series 2025 CF7017, 3.01% 4/1/2037 (Liquidity Facility Citibank NA) (b)(e) | 2790000 | 2790000 |
| Greater Orlando Aviation Auth Participating VRDN Series 2025 XF1854, 2.95% 10/1/2048 (Liquidity Facility JP Morgan Chase Bank NA) (b)(c)(e) | 8150000 | 8150000 |
| Greater Orlando Aviation Auth Participating VRDN Series 2025 ZF1930, 2.95% 10/1/2051 (Liquidity Facility JP Morgan Chase Bank NA) (b)(c)(e) | 6455000 | 6455000 |
| Hillsborough Cnty FL Aviation Participating VRDN Series 2024 XF1740, 2.95% 10/1/2054 (Liquidity Facility JP Morgan Chase Bank NA) (b)(c)(e) | 5005000 | 5005000 |
| Hillsborough Cnty FL Aviation Participating VRDN Series 2025 ZL0629, 2.95% 10/1/2054 (Liquidity Facility JP Morgan Chase Bank NA) (b)(c)(e) | 3810000 | 3810000 |
| Miami Dade County Hsg Multi Fam Hsg Rev Participating VRDN Series 2022 MIZ9087, 3.12% 11/1/2061 (Liquidity Facility Mizuho Capital Markets LLC) (b)(e)(f) | 1015000 | 1015000 |
| Miami-Dade Cnty Fla Aviat Rev Participating VRDN 2.99% 10/1/2055 (Liquidity Facility JP Morgan Chase Bank NA) (b)(c)(e) | 10500000 | 10500000 |
| Miami-Dade Cnty Fla Aviat Rev Participating VRDN Series 2025 CF7044, 3.04% 10/1/2040 (Liquidity Facility Citibank NA) (b)(c)(e) | 11300000 | 11300000 |
| Miami-Dade Cnty Fla Aviat Rev Participating VRDN Series 2025 ZF1933, 2.99% 10/1/2050 (Liquidity Facility JP Morgan Chase Bank NA) (b)(c)(e) | 5655000 | 5655000 |
| Miami-Dade Cnty Fla Aviat Rev Participating VRDN Series 2025 ZF1934, 2.99% 10/1/2050 (Liquidity Facility JP Morgan Chase Bank NA) (b)(c)(e) | 6660000 | 6660000 |
| Orange Cnty FL Health Facs Auth Rev Participating VRDN Series 2025 XF3302, 3.01% 10/1/2056 (Liquidity Facility Wells Fargo Bank NA) (b)(e) | 13200000 | 13200000 |
|  |  | 98405001 |
| Transportation - 0.4% |  |  |
| Broward Cnty FL Arpt Sys Rev Series 2017, 5% 10/1/2028 (c) | 275000 | 286096 |
| Broward Cnty FL Port Everglades Series 2022, 5% 9/1/2027 (c) | 1265000 | 1311135 |
| Greater Orlando Aviation Auth Series 2024, 5% 10/1/2028 (c) | 3390000 | 3607331 |
| Hillsborough Cnty FL Aviation (Tampa International Airport Proj.) Series 2022A, 5% 10/1/2025 (c) | 1180000 | 1180000 |
| Osceola Cnty Fla Transn Rev (Osceola Parkway Proj.) Series 2019 A 2, 0% 10/1/2026 (h) | 275000 | 265136 |
| Osceola Cnty Fla Transn Rev (Osceola Parkway Proj.) Series 2019 A 2, 0% 10/1/2027 (h) | 360000 | 335083 |
|  |  | 6984781 |
| TOTAL FLORIDA |  | 175781785 |
| Georgia - 4.7%  |  |  |
| Electric Utilities - 3.5% |  |  |
| Appling Cnty GA Dev Auth Pcr (Oglethorpe Pwr Corp Proj.) 3.38% 1/1/2038 VRDN (b) | 7100000 | 7100000 |
| Bartow Cnty GA Dev Auth Solid Waste Disp Fac Rev (Georgia Power Co Proj.) 3.55% 11/1/2062 VRDN (b)(c) | 46500000 | 46500000 |
| Burke Cnty GA Dev Auth Pcr (Georgia Power Co Proj.) Series 2008 SECOND, 3.375% tender 11/1/2048 (b) | 730000 | 734492 |
| Burke Cnty GA Dev Auth Pcr (Georgia Power Co Proj.) Series FIFTH 1994, 3.7% tender 10/1/2032 (b) | 1285000 | 1311962 |
| Burke Cnty GA Dev Auth Pcr (Georgia Power Co Proj.) Series FOURTH 1994, 3.8% tender 10/1/2032 (b) | 1885000 | 1894810 |
| Georgia Mun Elec Auth Pwr Rev Series 2022 A, 5% 7/1/2026 (Assured Guaranty Inc Insured)  | 230000 | 234364 |
| Georgia Mun Elec Auth Pwr Rev Series 2024A, 5% 1/1/2028  | 1000000 | 1053756 |
| Georgia Mun Elec Auth Pwr Rev Series A, 5% 1/1/2028  | 2005000 | 2041553 |
| Monroe Cnty GA Dev Auth Pcr (Georgia Power Co Proj.) Series FIRST 2012, 3.875% tender 6/1/2042 (b) | 1725000 | 1731646 |
|  |  | 62602583 |
| General Obligations - 0.6% |  |  |
| Main Street Natural Gas Inc 4% tender 5/1/2052 (Citigroup Inc Guaranteed) (b) | 3870000 | 3964498 |
| Main Street Natural Gas Inc Series 2022A, 4% 12/1/2025 (Citigroup Inc Guaranteed)  | 800000 | 800872 |
| Main Street Natural Gas Inc Series 2022B, 5% tender 12/1/2052 (Citigroup Inc Guaranteed) (b) | 1785000 | 1891205 |
| Main Street Natural Gas Inc Series 2023B, 5% 9/1/2026 (Royal Bank of Canada Guaranteed)  | 430000 | 437026 |
| Main Street Natural Gas Inc Series 2023D, 5% 12/1/2025 (Citigroup Inc Guaranteed)  | 350000 | 350967 |
| Main Street Natural Gas Inc Series 2023D, 5% 12/1/2026 (Citigroup Inc Guaranteed)  | 195000 | 199042 |
| Main Street Natural Gas Inc Series 2024 A 1, 5% 3/1/2026 (Royal Bank of Canada Guaranteed)  | 430000 | 433013 |
| Main Street Natural Gas Inc Series 2024 A 1, 5% 3/1/2027 (Royal Bank of Canada Guaranteed)  | 700000 | 718104 |
| Main Street Natural Gas Inc Series 2024 A 1, 5% 9/1/2026 (Royal Bank of Canada Guaranteed)  | 350000 | 355719 |
| Main Street Natural Gas Inc Series 2024 A 1, 5% 9/1/2027 (Royal Bank of Canada Guaranteed)  | 625000 | 647288 |
| Main Street Natural Gas Inc Series 2024C, 5% 12/1/2026 (Citibank NA Guaranteed), (Citigroup Inc Guaranteed)  | 875000 | 893139 |
| Main Street Natural Gas Inc Series 2024C, 5% 12/1/2027 (Citibank NA Guaranteed), (Citigroup Inc Guaranteed)  | 1000000 | 1037103 |
|  |  | 11727976 |
| Housing - 0.1% |  |  |
| Atlanta GA Urban Resdtl Fin Auth Mf Hsg Rev (North Block Assoc Proj.) 3.4% tender 2/1/2029 (b) | 2500000 | 2532383 |
| Synthetics - 0.1% |  |  |
| Buford Hsg Auth Multi Fam Participating VRDN Series 2023 XF3118, 3.17% 3/1/2041 (Liquidity Facility Mizuho Capital Markets LLC) (b)(e) | 1855143 | 1855142 |
| Transportation - 0.4% |  |  |
| Atlanta GA Arpt Rev Series 2025B B 1, 5% 7/1/2026 (c) | 1680000 | 1706332 |
| Atlanta GA Arpt Rev Series 2025B B 1, 5% 7/1/2028 (c) | 3700000 | 3922182 |
| Atlanta GA Arpt Rev Series 2025B B 1, 5% 7/1/2029 (c) | 1800000 | 1940951 |
|  |  | 7569465 |
| TOTAL GEORGIA |  | 86287549 |
| Guam - 0.1%  |  |  |
| Electric Utilities - 0.1% |  |  |
| Guam Power Auth. 5% 10/1/2025  | 980000 | 979999 |
| Hawaii - 0.2%  |  |  |
| Housing - 0.2% |  |  |
| Honolulu HI City & Cnty Mfr Series 2023, 5% tender 6/1/2027 (b) | 3480000 | 3525517 |
| Synthetics - 0.0% |  |  |
| Hawaii St Arpts Sys Rev Participating VRDN Series 2025 ZF1831, 2.96% 7/1/2048 (Liquidity Facility Bank of America, N.A.) (b)(c)(e) | 900000 | 900000 |
| TOTAL HAWAII |  | 4425517 |
| Illinois - 4.3%  |  |  |
| Education - 0.0% |  |  |
| Kane Cnty Ill Rev (Glenwood School For Boys, Il Proj.) 3.09% 2/1/2028, LOC Northern Trust CO Chicago VRDN (b) | 800000 | 800000 |
| Escrowed/Pre-Refunded - 0.0% |  |  |
| Railsplitter Tobacco Settlement Auth Settlement Rev Series 2017, 5% 6/1/2026 (Escrowed to Maturity)  | 635000 | 645211 |
| General Obligations - 0.8% |  |  |
| Cook Cnty IL Gen. Oblig. Series 2022 A, 5% 11/15/2025  | 2775000 | 2782541 |
| Illinois St Gen. Oblig. 5% 3/1/2026  | 3850000 | 3887230 |
| Illinois St Gen. Oblig. Series 2017D, 5% 11/1/2026  | 930000 | 952835 |
| Illinois St Gen. Oblig. Series 2017D, 5% 11/1/2027  | 945000 | 988318 |
| Illinois St Gen. Oblig. Series MAY 2023 C, 5% 5/1/2026  | 2540000 | 2574230 |
| Illinois St Gen. Oblig. Series MAY 2024 B, 5% 5/1/2026  | 585000 | 592884 |
| Illinois St Gen. Oblig. Series MAY 2024 B, 5% 5/1/2027  | 405000 | 419622 |
| Illinois St Gen. Oblig. Series MAY 2024 B, 5% 5/1/2028  | 670000 | 708526 |
|  |  | 12906186 |
| Health Care - 0.0% |  |  |
| University of Illinois (University of Illinois Hospital And Health Sciences System Proj.) Series 2023, 5% 10/1/2027  | 255000 | 265546 |
| Housing - 0.1% |  |  |
| Illinois Hsg Dev Auth Multifamily Hsg Rev 5% tender 2/1/2027 (b) | 893000 | 898585 |
| Illinois Hsg Dev Auth Multifamily Hsg Rev Series 2023, 5% tender 2/1/2027 (b) | 966000 | 972172 |
|  |  | 1870757 |
| Special Tax - 0.1% |  |  |
| Cook Cnty Ill Sales Tax Rev Series 2022 A, 5% 11/15/2025  | 430000 | 431035 |
| Metropolitan Pier & Exposition Auth Ill Dedicated St Tax Rev 0% 6/15/2026 (Assured Guaranty Inc Insured) (h) | 720000 | 704850 |
|  |  | 1135885 |
| Synthetics - 2.4% |  |  |
| Chicago IL O'Hare Intl Arpt Rev Participating VRDN 3.03% 1/1/2053 (Liquidity Facility JP Morgan Chase Bank NA) (b)(c)(e) | 24700000 | 24700000 |
| Chicago IL O'Hare Intl Arpt Rev Participating VRDN Series 2025 ZF1980, 3.05% 1/1/2059 (Liquidity Facility JP Morgan Chase Bank NA) (b)(c)(e) | 4500000 | 4500000 |
| Chicago IL Wastewater Transmission Rev Participating VRDN Series 2025 XG0605, 3.01% 1/1/2058 (Liquidity Facility Barclays Bank PLC) (b)(e) | 3400000 | 3400000 |
| Chicago Ill Tran Auth Sales Tax Rcpts Rev Participating VRDN Series 2024 XF3290, 3.03% 12/1/2049 (Liquidity Facility Wells Fargo Bank NA) (b)(e) | 5500000 | 5500000 |
| IL Fin Auth Rev Plymouth Place Participating VRDN Series 2025 002, 3.19% 5/15/2056 (Liquidity Facility Barclays Bank PLC) (b)(e) | 6400000 | 6400000 |
|  |  | 44500000 |
| Transportation - 0.7% |  |  |
| Chicago IL Midway Arpt Rev Series 2023A, 5% 1/1/2027 (Build America Mutual Assurance Co Insured) (c) | 635000 | 650822 |
| Chicago IL Midway Arpt Rev Series 2023A, 5% 1/1/2028 (Build America Mutual Assurance Co Insured) (c) | 1480000 | 1544698 |
| Chicago IL O'Hare Intl Arpt Rev Series 2022 C, 5% 1/1/2026 (c) | 760000 | 764112 |
| Chicago IL O'Hare Intl Arpt Rev Series 2024C, 5% 1/1/2028 (c) | 6810000 | 7092590 |
| Chicago IL O'Hare Intl Arpt Rev Series 2024E, 5% 1/1/2026 (c) | 3065000 | 3081584 |
|  |  | 13133806 |
| Water & Sewer - 0.2% |  |  |
| Chicago IL Wtr Rev Series 2023 B, 5% 11/1/2025  | 635000 | 635926 |
| Illinois Finance Authority Rev (IL Wtr State Rev Fund Proj.) 5% 1/1/2027 (d) | 2300000 | 2372162 |
|  |  | 3008088 |
| TOTAL ILLINOIS |  | 78265479 |
| Indiana - 1.9%  |  |  |
| Electric Utilities - 1.1% |  |  |
| Indiana St Dev Fin Auth Envr Rev (Duke Energy Ind Inc Proj.) 3.01% 12/1/2038 VRDN (b)(c) | 14700000 | 14700000 |
| Rockport Ind Pollution Ctl Rev (Indiana Michigan Power Co Proj.) Series 2025 A, 3.7% tender 6/1/2047 (b) | 4955000 | 5085504 |
|  |  | 19785504 |
| General Obligations - 0.1% |  |  |
| Westfield Washington Ind Multi (Westfield-Wash Ind Schs Proj.) Series 2024 A, 5% 1/15/2028 (Build America Mutual Assurance Co Insured)  | 625000 | 657615 |
| Westfield Washington Ind Multi (Westfield-Wash Ind Schs Proj.) Series 2024 A, 5% 7/15/2027 (Build America Mutual Assurance Co Insured)  | 500000 | 520127 |
| Westfield Washington Ind Multi (Westfield-Wash Ind Schs Proj.) Series 2024 A, 5% 7/15/2028 (Build America Mutual Assurance Co Insured)  | 615000 | 653814 |
| Westfield Washington Ind Multi (Westfield-Wash Ind Schs Proj.) Series 2024B, 5% 7/15/2027 (Build America Mutual Assurance Co Insured)  | 360000 | 374490 |
| Westfield Washington Ind Multi (Westfield-Wash Ind Schs Proj.) Series 2024B, 5% 7/15/2028 (Build America Mutual Assurance Co Insured)  | 1000000 | 1063112 |
|  |  | 3269158 |
| Resource Recovery - 0.3% |  |  |
| Indiana St Fin Auth Economic Dev Rev (Republic Services Inc Proj.) Series 2010A, 3.8% tender 5/1/2028 (b)(c) | 3000000 | 2998655 |
| Indiana St Fin Auth Economic Dev Rev (Republic Services Inc Proj.) Series 2012, 3.8% tender 5/1/2028 (b)(c) | 2800000 | 2798745 |
|  |  | 5797400 |
| Transportation - 0.4% |  |  |
| Indianapolis IN Loc Pub Impt Bd Bank (Indianapolis IN Arpt Auth Rev Proj.) 5% 1/1/2026 (c) | 255000 | 256360 |
| Indianapolis IN Loc Pub Impt Bd Bank (Indianapolis IN Arpt Auth Rev Proj.) Series 2019 D, 5% 1/1/2026 (c) | 3035000 | 3051192 |
| Indianapolis IN Loc Pub Impt Bd Bank (Indianapolis IN Arpt Auth Rev Proj.) Series A-1, 5% 1/1/2026 (c) | 1270000 | 1276776 |
| Indianapolis Local Public Improvement Bond Bank (Indianapolis IN Arpt Auth Rev Proj.) Series 2023I 2, 5% 1/1/2026 (c) | 665000 | 668547 |
| Indianapolis Local Public Improvement Bond Bank (Indianapolis IN Arpt Auth Rev Proj.) Series 2023I 2, 5% 1/1/2027 (c) | 1335000 | 1368265 |
|  |  | 6621140 |
| TOTAL INDIANA |  | 35473202 |
| Iowa - 0.5%  |  |  |
| Education - 0.0% |  |  |
| Iowa Student Ln Liquidity Corp (Iowa Student Ln 10/1/19 Proj.) Series 2023 B, 5% 12/1/2026 (c) | 380000 | 387231 |
| Electric Utilities - 0.5% |  |  |
| Iowa Fin Auth Sld Disp Wst Rev (Midamerican Energy Co Proj.) 3% 7/1/2038 VRDN (b)(c) | 1170000 | 1170000 |
| Iowa Fin Auth Sld Disp Wst Rev (Midamerican Energy Co Proj.) Series 2016 B, 3% 12/1/2046 VRDN (b)(c) | 4600000 | 4600000 |
| Iowa Fin Auth Solid Waste Facs Rev (Midamerican Energy Co Proj.) 2.95% 12/1/2047 VRDN (b)(c) | 3625000 | 3625000 |
|  |  | 9395000 |
| TOTAL IOWA |  | 9782231 |
| Kansas - 0.0%  |  |  |
| General Obligations - 0.0% |  |  |
| City of Olathe KS Gen. Oblig. Series 230, 2.5% 10/1/2027  | 720000 | 716827 |
| Kentucky - 2.8%  |  |  |
| Electric Utilities - 0.5% |  |  |
| Trimble Cnty KY Environmental Facs Rev (Kentucky Utilities Co Proj.) 4.7% tender 6/1/2054 (b)(c) | 8255000 | 8343575 |
| General Obligations - 0.2% |  |  |
| Kentucky Inc KY Pub Energy Auth Gas Supply Rev Series 2025A, 5% 12/1/2026 (Morgan Stanley Guaranteed)  | 555000 | 567082 |
| Kentucky Inc KY Pub Energy Auth Gas Supply Rev Series 2025A, 5% 12/1/2027 (Morgan Stanley Guaranteed)  | 230000 | 239121 |
| Kentucky Inc KY Pub Energy Auth Gas Supply Rev Series 2025A, 5% 6/1/2026 (Morgan Stanley Guaranteed)  | 350000 | 354181 |
| Kentucky Inc KY Pub Energy Auth Gas Supply Rev Series 2025A, 5% 6/1/2027 (Morgan Stanley Guaranteed)  | 600000 | 618126 |
| Kentucky Inc KY Pub Energy Auth Gas Supply Rev Series 2025A, 5% 6/1/2028 (Morgan Stanley Guaranteed)  | 470000 | 492378 |
| Kentucky St Pty & Bldgs Commn (Kentucky St Proj.) Series A, 5% 4/1/2027  | 420000 | 436087 |
| Kentucky St Pty & Bldgs Commn (Kentucky St Proj.) Series A, 5% 4/1/2028  | 2000000 | 2125084 |
|  |  | 4832059 |
| Industrial Development - 1.9% |  |  |
| Meade Cnty KY Indl Bldg Rev (Nucor Corp Proj.) Series 2020 A 1, 4.05% 7/1/2060 VRDN (b)(c) | 13115000 | 13115000 |
| Meade Cnty KY Indl Bldg Rev (Nucor Corp Proj.) Series 2020 B 1, 4.05% 7/1/2060 VRDN (b)(c) | 22185000 | 22185000 |
|  |  | 35300000 |
| Resource Recovery - 0.2% |  |  |
| Kentucky Economic Dev Fin Auth Solid Waste Disp Rev (Republic Services Inc Proj.) Series 2010A, 3.8% tender 4/1/2031 (b)(c) | 2750000 | 2750000 |
| TOTAL KENTUCKY |  | 51225634 |
| Louisiana - 3.1%  |  |  |
| Housing - 0.2% |  |  |
| Louisiana Housing Corp Series 2024B, 3.75% tender 2/1/2028 (b) | 2000000 | 2022940 |
| Louisiana Housing Corp Series 2024B, 3.75% tender 2/1/2028 (b) | 1130000 | 1142961 |
|  |  | 3165901 |
| Industrial Development - 2.4% |  |  |
| St James Parish LA Rev (Nucor Corp Proj.) 3.05% 11/1/2040 VRDN (b) | 1650000 | 1650000 |
| St James Parish LA Rev (Nucor Corp Proj.) 3.13% 11/1/2040 VRDN (b) | 40035000 | 40035000 |
| St John Baptist Parish LA Rev (Conocophillips Inc Proj.) 4.05% tender 6/1/2037 (b) | 1815000 | 1830762 |
|  |  | 43515762 |
| Synthetics - 0.0% |  |  |
| Los Angeles Hsg Corp Rev Participating VRDN Series 2025 XF3347, 3.17% 7/1/2042 (Liquidity Facility Mizuho Capital Markets LLC) (b)(e) | 800000 | 800000 |
| Transportation - 0.5% |  |  |
| New Orleans LA Aviation Board 5% 1/1/2026 (c) | 2090000 | 2100780 |
| New Orleans LA Aviation Board 5% 1/1/2027 (c) | 2340000 | 2398888 |
| New Orleans LA Aviation Board 5% 1/1/2028 (c) | 4410000 | 4603761 |
|  |  | 9103429 |
| TOTAL LOUISIANA |  | 56585092 |
| Maryland - 0.4%  |  |  |
| Housing - 0.3% |  |  |
| Maryland Community Development Administration (MD Mhsg Rev 1997 Proj.) Series 2023 D, 3.5% 1/1/2026  | 4810000 | 4817371 |
| Synthetics - 0.1% |  |  |
| Maryland St Econ Dev Corp Participating VRDN Series 2024 XF3222, 3.12% 4/1/2054 (Liquidity Facility Mizuho Capital Markets LLC) (b)(e) | 2810000 | 2810000 |
| TOTAL MARYLAND |  | 7627371 |
| Massachusetts - 0.3%  |  |  |
| General Obligations - 0.1% |  |  |
| Hudson MA Gen. Oblig. BAN 5% 6/11/2026  | 2500000 | 2519422 |
| Special Tax - 0.2% |  |  |
| Massachusetts St Sch Bldg Auth Dedicated Sales Tax Rev Series 2015C, 5% 8/15/2027  | 2925000 | 2928402 |
| TOTAL MASSACHUSETTS |  | 5447824 |
| Michigan - 1.2%  |  |  |
| Electric Utilities - 0.3% |  |  |
| Michigan St Strategic Fd Ltd Oblig Rev (Consumers Energy Co Proj.) Series 2019, 3.35% tender 10/1/2049 (b)(c) | 5540000 | 5509953 |
| General Obligations - 0.3% |  |  |
| Detroit MI Gen. Oblig. Series 2024, 5% 5/1/2026  | 1300000 | 1313957 |
| Detroit MI Gen. Oblig. Series 2024, 5% 5/1/2027  | 1365000 | 1404397 |
| Detroit MI Gen. Oblig. Series 2024, 5% 5/1/2028  | 745000 | 779936 |
| Southfield Mich Pub Schs 5% 5/1/2026 (State of Michigan Guaranteed)  | 1475000 | 1494851 |
|  |  | 4993141 |
| Health Care - 0.4% |  |  |
| Michigan Fin Auth Rev (Bronson Methodist Hsp, Mi Proj.) Series 2019 C, 3.75% tender 11/15/2049 (b) | 3600000 | 3600835 |
| Michigan Fin Auth Rev (Corewell Health Proj.) 5% 4/15/2026  | 3010000 | 3045715 |
|  |  | 6646550 |
| Housing - 0.1% |  |  |
| Michigan State Housing Development Authority Series 2025, 2.7% tender 10/1/2043 (b) | 2175000 | 2161059 |
| Special Tax - 0.0% |  |  |
| Detroit MI Downtown Dev Auth Tax Series 2024, 5% 7/1/2026  | 400000 | 406658 |
| Detroit MI Downtown Dev Auth Tax Series 2024, 5% 7/1/2027  | 550000 | 572302 |
|  |  | 978960 |
| Transportation - 0.1% |  |  |
| Wayne Cnty Mich Arpt Auth Rev Series 2017 E, 4% 12/1/2025 (c) | 1095000 | 1096733 |
| Wayne Cnty Mich Arpt Auth Rev Series F, 5% 12/1/2026 (c) | 565000 | 565483 |
|  |  | 1662216 |
| TOTAL MICHIGAN |  | 21951879 |
| Minnesota - 0.1%  |  |  |
| Electric Utilities - 0.0% |  |  |
| Northern Muni Pwr Agcy MN Elec Sys Rev Series 2023, 5% 1/1/2026  | 240000 | 241262 |
| Northern Muni Pwr Agcy MN Elec Sys Rev Series 2023, 5% 1/1/2027  | 365000 | 375048 |
|  |  | 616310 |
| General Obligations - 0.1% |  |  |
| Minnesota Housing Finance Agency (Minnesota St Proj.) Series 2022 B, 5% 8/1/2026  | 1080000 | 1100201 |
| Transportation - 0.0% |  |  |
| Minneapolis Met Airport Commis Series 2022B, 5% 1/1/2026 (c) | 575000 | 578009 |
| TOTAL MINNESOTA |  | 2294520 |
| Mississippi - 0.7%  |  |  |
| Education - 0.2% |  |  |
| Jackson St Univ Edl Bldg Corp MS Rev Series 2021 A, 0.8% 3/1/2028 (Build America Mutual Assurance Co Insured) (b) | 4740000 | 4512289 |
| Electric Utilities - 0.5% |  |  |
| Mississippi Business Fin Corp Miss Solid Waste Disp Fac & Wastewater Fac Rev (Mississippi Power Co Proj.) 3.8% 11/1/2052 VRDN (b)(c) | 8170000 | 8170000 |
| TOTAL MISSISSIPPI |  | 12682289 |
| Missouri - 0.2%  |  |  |
| Housing - 0.1% |  |  |
| Kansas City MO Planned Indl Expansion Auth Multifamily Hsg Rev Series 2023, 5% tender 7/1/2045 (b) | 1528000 | 1566023 |
| Synthetics - 0.1% |  |  |
| St Louis County Ind Dev Auth Multi Fam Hsg Rev Participating VRDN 3.12% 10/1/2063 (Liquidity Facility Mizuho Capital Markets LLC) (b)(e)(f) | 1969501 | 1969501 |
| TOTAL MISSOURI |  | 3535524 |
| Montana - 0.3%  |  |  |
| Housing - 0.3% |  |  |
| Montana St Brd Hsg Multifamilyhsg Rev Series 2024, 3.32% tender 7/1/2046 (b) | 4940000 | 4974172 |
| Nebraska - 0.4%  |  |  |
| Industrial Development - 0.2% |  |  |
| Stanton Cnty NE Indl Dev Rev (Nucor Corp Proj.) 3.2% 11/1/2026 VRDN (b)(c) | 3600000 | 3600000 |
| Stanton Cnty NE Indl Dev Rev (Nucor Corp Proj.) 3.2% 6/1/2028 VRDN (b)(c) | 625000 | 625000 |
|  |  | 4225000 |
| Synthetics - 0.2% |  |  |
| Omaha NE Arpt Auth Arpt Rev Participating VRDN 3.09% 12/15/2049 (Liquidity Facility Bank of America, N.A.) (b)(c)(e) | 3600000 | 3600000 |
| TOTAL NEBRASKA |  | 7825000 |
| Nevada - 0.3%  |  |  |
| Electric Utilities - 0.0% |  |  |
| Clark NV Pollutn Ctl Rev (Nevada Power Co Proj.) Series 2017, 3.75% tender 1/1/2036 (b) | 910000 | 912254 |
| General Obligations - 0.1% |  |  |
| Clark Cnty NV School Dist Series 2015 C, 5% 6/15/2027  | 1145000 | 1150274 |
| Housing - 0.1% |  |  |
| Nevada Hsg Div Series 2024, 5% tender 7/1/2028 (b) | 1975000 | 2046767 |
| Resource Recovery - 0.1% |  |  |
| Nevada Dpt Bus & Ind Solid Waste Disp Rev (Republic Services Inc Proj.) Series 2001, 3.95% tender 12/1/2026 (b)(c)(g) | 1150000 | 1149830 |
| TOTAL NEVADA |  | 5259125 |
| New Hampshire - 1.2%  |  |  |
| Education - 0.0% |  |  |
| New Hampshire Health and Education Facilities Authority Act (New Hampshire Higher Ed Ln Proj.) Series 2023 B, 5.5% 11/1/2026 (c) | 190000 | 194472 |
| Housing - 0.2% |  |  |
| New Hampshire St Hsg Fin Auth Multi-Family Hsg (NH Mhsg Rev 2017 Proj.) 3.8% 7/1/2026  | 680000 | 680582 |
| New Hampshire St Hsg Fin Auth Multi-Family Hsg (NH Mhsg Rev 2017 Proj.) 3.85% 1/1/2027  | 1080000 | 1087535 |
| New Hampshire St Hsg Fin Auth Multi-Family Hsg (NH Mhsg Rev 2017 Proj.) Series 2023 4, 3.625% 4/1/2026  | 365000 | 365566 |
| New Hampshire St Hsg Fin Auth Multi-Family Hsg (NH Mhsg Rev 2017 Proj.) Series 2023 4, 3.7% 1/1/2027  | 1170000 | 1176872 |
|  |  | 3310555 |
| Resource Recovery - 0.9% |  |  |
| National Fin Auth NH Solid Waste Disp Rev (Waste Management Inc Del Proj.) Series 2019 A 2, 4.25% tender 7/1/2027 (b)(c) | 11960000 | 12055578 |
| National Fin Auth NH Solid Waste Disp Rev (Waste Management Inc Del Proj.) Series 2019 A 3, 4% tender 7/1/2033 (b)(c) | 4100000 | 4101743 |
|  |  | 16157321 |
| Synthetics - 0.1% |  |  |
| Nat'l Fin Auth NH Specialty Bonds Series 2024 MS0023, 3.19% tender 12/15/2030 (Liquidity Facility Morgan Stanley Bank NA) (b)(e)(f) | 2400000 | 2400000 |
| TOTAL NEW HAMPSHIRE |  | 22062348 |
| New Jersey - 2.8%  |  |  |
| Education - 0.2% |  |  |
| Higher Ed Student Assistance Auth NJ Student Ln Rev (NJ Stud Loan 2010-1 Proj.) 5% 12/1/2025 (c) | 1815000 | 1820299 |
| Higher Ed Student Assistance Auth NJ Student Ln Rev (NJ Stud Loan 2018 Proj.) Series 2018 B, 5% 12/1/2026 (c) | 635000 | 646644 |
| Higher Ed Student Assistance Auth NJ Student Ln Rev (NJ Stud Loan 2019 Proj.) 5% 12/1/2025 (c) | 1670000 | 1674537 |
| Higher Ed Student Assistance Auth NJ Student Ln Rev (NJ Stud Loan 2019 Proj.) Series 2022A, 5% 12/1/2025 (c) | 350000 | 350832 |
|  |  | 4492312 |
| General Obligations - 2.2% |  |  |
| Belleville NJ Tan Gen. Oblig. BAN 4% 7/7/2026  | 15512500 | 15614172 |
| New Jersey Econom Dev Auth Rev (New Jersey St Proj.) Series 2019 GGG, 5.25% 9/1/2026 (g) | 1840000 | 1883669 |
| New Jersey Economic Dev Auth Rev (New Jersey St Proj.) 5% 11/1/2025  | 635000 | 636131 |
| New Jersey Economic Dev Auth Rev (New Jersey St Proj.) Series 2023 RRR, 5% 3/1/2026  | 3445000 | 3477235 |
| New Jersey Economic Dev Auth Rev (New Jersey St Proj.) Series 2024 SSS, 5% 6/15/2026  | 2295000 | 2332283 |
| New Jersey Trans Trust Fund Auth 0% 12/15/2025 (h) | 1555000 | 1545795 |
| New Jersey Trans Trust Fund Auth 0% 12/15/2025 (h) | 665000 | 661063 |
| NJ Hlth Care Facs Fing Auth Dept Human Svcs Lease (New Jersey St Proj.) Series 2024, 5% 9/15/2026  | 2435000 | 2489715 |
| NJ Hlth Care Facs Fing Auth Dept Human Svcs Lease (New Jersey St Proj.) Series 2024, 5% 9/15/2026  | 325000 | 332303 |
| NJ Hlth Care Facs Fing Auth Dept Human Svcs Lease (New Jersey St Proj.) Series 2024, 5% 9/15/2027  | 630000 | 659863 |
| Orange Twp NJ BAN 4% 3/18/2026  | 8388185 | 8427143 |
|  |  | 38059372 |
| Housing - 0.2% |  |  |
| NJ Hsg & Mtg Fin Agy Multi Fam Rev (NJ Multi-Family 12/16/04 Proj.) Series 2024 D 2, 2.85% 11/1/2026  | 4060000 | 4056530 |
| Synthetics - 0.2% |  |  |
| New Jersey Trans Trust Fund Auth Participating VRDN Series 2021 XM0929, 3.04% 6/15/2050 (Liquidity Facility JP Morgan Chase Bank NA) (b)(e) | 4535000 | 4535000 |
| TOTAL NEW JERSEY |  | 51143214 |
| New Jersey,New York - 1.0%  |  |  |
| Transportation - 1.0% |  |  |
| Port Auth NY & NJ 5% 10/15/2026 (c) | 2600000 | 2654864 |
| Port Auth NY & NJ 5% 10/15/2027 (c) | 1995000 | 2078627 |
| Port Auth NY & NJ 5% 7/15/2026 (c) | 2550000 | 2589997 |
| Port Auth NY & NJ Series 195, 5% 10/1/2025 (c) | 1225000 | 1224999 |
| Port Auth NY & NJ Series 226, 5% 10/15/2027 (c) | 1445000 | 1505572 |
| Port Auth NY & NJ Series 242, 5% 12/1/2025 (c) | 2680000 | 2688187 |
| Port Auth NY & NJ Series 242, 5% 12/1/2026 (c) | 5495000 | 5625624 |
|  |  | 18367870 |
| TOTAL NEW JERSEY,NEW YORK |  | 18367870 |
| New Mexico - 0.5%  |  |  |
| Housing - 0.5% |  |  |
| New Mexico Mtg Fin Auth Mf Hsg Rev (Jlg Nm Abq 2023, Lllp Proj.) Series 2023, 2.97% tender 2/1/2042 (b) | 3698000 | 3693798 |
| Santa Fe Cnty N Mex Multifamily Rev Series 2024, 3.29% tender 12/10/2049 (b) | 5660000 | 5692279 |
|  |  | 9386077 |
| TOTAL NEW MEXICO |  | 9386077 |
| New York - 9.5%  |  |  |
| Education - 0.0% |  |  |
| St Lawrence County Industrial Development Agency (St Lawrence University Proj.) 5% 7/1/2026  | 255000 | 259073 |
| Electric Utilities - 0.2% |  |  |
| Long Island Pwr Auth NY Elec Series 2025B, 3% tender 9/1/2055 (b) | 3755000 | 3735614 |
| General Obligations - 4.6% |  |  |
| Albany NY BAN 4% 3/20/2026  | 18300000 | 18378189 |
| Binghamton NY BAN 4% 4/10/2026  | 16200000 | 16286931 |
| City of New York NY Gen. Oblig. 5% 8/1/2028  | 11545000 | 12346806 |
| East Hampton NY Un Free Sh Dis 2.1% 6/1/2027  | 1285000 | 1256290 |
| East Syracuse-Minoa NY Cent SD BAN Series 2025, 4% 6/25/2026  | 5900000 | 5943377 |
| Farmington NY Gen. Oblig. BAN Series 2025, 4% 7/29/2026  | 6600000 | 6618822 |
| Ithaca City New York BAN 4.25% 2/13/2026  | 7800000 | 7822596 |
| Ithaca City New York Gen. Oblig. BAN 4.5% 7/17/2026  | 2600000 | 2623061 |
| Sullivan West Cent Sch Dist NY BAN Series 2025, 4% 6/25/2026  | 7200000 | 7246898 |
| Washington Co NY BAN 4% 3/20/2026  | 4100000 | 4121999 |
|  |  | 82644969 |
| Housing - 0.6% |  |  |
| Monroe Cnty NY Indl Dev Agy Multi-Family Hsg Rev 5% tender 7/1/2028 (b) | 947000 | 981412 |
| New York St Hsg Fin Agy Series 2023 E 2, 3.8% tender 11/1/2063 (b) | 1170000 | 1170548 |
| New York St Hsg Fin Agy Series 2024 A, 3.375% tender 11/1/2063 (b) | 8340000 | 8342152 |
| NY City Hsg Dev Corp Multifamily Hsg Rev (New York Mhsg 7/27/1993 Proj.) Series 2021 K2, 0.9% tender 11/1/2060 (b) | 795000 | 789754 |
|  |  | 11283866 |
| Special Tax - 0.4% |  |  |
| New York City Transitional Finance Authority (New York NY City Transitional Fin Auth Rev Proj.) 5% 11/1/2027  | 5895000 | 6211793 |
| New York NY City Ida Rev (Queens Ballpark Company LLC Proj.) Series 2021A, 5% 1/1/2026 (Assured Guaranty Inc Insured)  | 380000 | 381961 |
| NY Payroll Mobility Tax 2% tender 5/15/2045 (b) | 635000 | 630616 |
|  |  | 7224370 |
| Synthetics - 3.2% |  |  |
| Liberty NY Dev Corp Rev Participating VRDN 3.24% 10/1/2035 (Liquidity Facility Morgan Stanley Bank NA) (b)(e) | 2578500 | 2578500 |
| Metropolitan Transn Auth NY Rv Participating VRDN 3.14% 11/15/2043 (Liquidity Facility JP Morgan Chase Bank NA) (b)(e) | 4445000 | 4445000 |
| Metropolitan Transn Auth NY Rv Participating VRDN Series 2022 XF1321, 3.14% 11/15/2055 (Liquidity Facility JP Morgan Chase Bank NA) (b)(e) | 3025000 | 3025000 |
| Metropolitan Transn Auth NY Rv Participating VRDN Series 2023 XF1649, 3.14% 11/15/2045 (Liquidity Facility JP Morgan Chase Bank NA) (b)(e) | 4480000 | 4480000 |
| Metropolitan Transn Auth NY Rv Participating VRDN Series 2025 XF8023, 3.01% 11/15/2049 (Liquidity Facility JP Morgan Chase Bank NA) (b)(e) | 12900000 | 12900000 |
| New York St Hsg Fin Agy Participating VRDN Series 2022 003, 3.24% 11/1/2041 (Liquidity Facility Barclays Bank PLC) (b)(e) | 3500000 | 3500000 |
| New York St Hsg Fin Agy Participating VRDN Series 2022 007, 3.34% 11/1/2041 (Liquidity Facility Barclays Bank PLC) (b)(c)(e) | 27890000 | 27890000 |
|  |  | 58818500 |
| Transportation - 0.5% |  |  |
| Metropolitan Transn Auth NY Rv Series 2017 B, 5% 11/15/2026  | 1270000 | 1301680 |
| Metropolitan Transn Auth NY Rv Series 2017C 1, 5% 11/15/2025  | 665000 | 666599 |
| Metropolitan Transn Auth NY Rv Series C 1, 5% 11/15/2026  | 1585000 | 1589499 |
| New York Transportation Development Corp (Jfk International Air Terminal Proj.) 5% 12/1/2025 (c) | 1875000 | 1880261 |
| New York Transportation Development Corp (Jfk International Air Terminal Proj.) Series 2022, 5% 12/1/2026 (c) | 3175000 | 3245097 |
|  |  | 8683136 |
| TOTAL NEW YORK |  | 172649528 |
| North Carolina - 1.1%  |  |  |
| Escrowed/Pre-Refunded - 0.2% |  |  |
| Cumberland Cnty NC Series 2024, 3.75% tender 12/1/2027 (b)(c) | 3400000 | 3400494 |
| Health Care - 0.5% |  |  |
| Atrium Health Series 2018 D, 3.625% tender 1/15/2048 (b) | 2850000 | 2886097 |
| Atrium Health Series 2018C, 3.45% tender 1/15/2048 (b) | 3425000 | 3426202 |
| North Carolina Med Care Commn Hosp Rev (Caromont Health Inc Proj.) 5% tender 2/1/2051 (b) | 2525000 | 2542494 |
|  |  | 8854793 |
| Housing - 0.4% |  |  |
| Inlivian NC Multifamily Rev (Sycamore Station Ii Llc Proj.) 3.625% tender 11/1/2058 (b) | 4350000 | 4406685 |
| North Carolina Housing Finance Agency (NC Homeownership Proj.) Series 55 C, 3.2% tender 7/1/2056 (b) | 4000000 | 4000118 |
|  |  | 8406803 |
| TOTAL NORTH CAROLINA |  | 20662090 |
| Ohio - 1.8%  |  |  |
| Education - 0.1% |  |  |
| Northeast Ohio Med Univ Gen Rcpts Series 2022, 5% 12/1/2025 (Build America Mutual Assurance Co Insured)  | 170000 | 170485 |
| Ohio St Higher Ed Fac Comm (Case Western Reserve Univ, Oh Proj.) 1.625% tender 12/1/2034 (b) | 735000 | 719695 |
| Ohio St Higher Ed Fac Comm (Xavier Univ, OH Proj.) Series 2020, 5% 5/1/2026  | 700000 | 708157 |
|  |  | 1598337 |
| Electric Utilities - 0.9% |  |  |
| American Mun Pwr Rev Series 2023A, 5% 2/15/2026  | 3130000 | 3157184 |
| American Mun Pwr Rev Series 2023A, 5% 2/15/2027  | 4915000 | 5076993 |
| Ohio St Air Quality Dev Auth (American Electric Power Co Inc Proj.) Series 2014C, 3.65% 12/1/2027 (c) | 4055000 | 4061155 |
| Ohio St Air Quality Dev Auth (American Electric Power Co Inc Proj.) Series 2014D, 3.2% 5/1/2026  | 3720000 | 3711129 |
|  |  | 16006461 |
| Health Care - 0.6% |  |  |
| Ohio St Hosp Rev (University Hosp Hlth Sys, Oh Proj.) Series 2013 B, 3.42% 1/15/2033 VRDN (b) | 6355000 | 6355000 |
| Ohio St Hosp Rev (University Hosp Hlth Sys, Oh Proj.) Series 2015B, 3.42% 1/15/2045 VRDN (b) | 5005000 | 5005000 |
|  |  | 11360000 |
| Housing - 0.1% |  |  |
| Columbus-Franklin Cnty Ohio Fin Auth Multifamily Hsg Rev Series 2023, 5% tender 7/1/2045 (b) | 1333000 | 1357687 |
| Water & Sewer - 0.1% |  |  |
| Hamilton Cnty OH Swr Sys Rev Series 2024 B, 5% 12/1/2025  | 755000 | 757817 |
| Hamilton Cnty OH Swr Sys Rev Series 2024 B, 5% 12/1/2026  | 755000 | 776465 |
| Hamilton Cnty OH Swr Sys Rev Series 2024 B, 5% 12/1/2027  | 505000 | 533108 |
|  |  | 2067390 |
| TOTAL OHIO |  | 32389875 |
| Oklahoma - 1.2%  |  |  |
| General Obligations - 0.7% |  |  |
| Oklahoma Cnty Indep Sch Dist 89 Oklahoma City 3% 7/1/2026  | 7140000 | 7143666 |
| Oklahoma St Inds Auth Edl Facs Lease Rev (Oklahoma Cnty Indep Sch Dist 89 Oklahoma City Proj.) Series 2024, 5% 4/1/2028  | 5125000 | 5430154 |
|  |  | 12573820 |
| Health Care - 0.4% |  |  |
| OK Dev Fin Auth Health Sys Rev (Integris Baptist Medical Ctr Proj.) Series 2020B, 3.53% 8/15/2031 VRDN (b) | 7425000 | 7425000 |
| Synthetics - 0.1% |  |  |
| Steele Duncan Plaza LLC Participating VRDN Series 2022 MIZ9103, 3.12% 8/1/2062 (Liquidity Facility Mizuho Capital Markets LLC) (b)(e)(f) | 1642775 | 1642775 |
| TOTAL OKLAHOMA |  | 21641595 |
| Oregon - 0.1%  |  |  |
| General Obligations - 0.1% |  |  |
| Redmond or Gen. Oblig. Series 2025 A, 5% 6/1/2029 (c) | 1055000 | 1126692 |
| Transportation - 0.0% |  |  |
| Port of Portland Arpt Rev 5% 7/1/2026  | 360000 | 366695 |
| TOTAL OREGON |  | 1493387 |
| Pennsylvania - 5.8%  |  |  |
| General Obligations - 0.9% |  |  |
| Pennsylvania St 5% 9/1/2026  | 7990000 | 8174116 |
| Pennsylvania St Series 2019, 5% 7/15/2026  | 2000000 | 2039269 |
| Philadelphia PA Gen. Oblig. Series 2025 C, 5% 8/1/2026  | 590000 | 601634 |
| Philadelphia PA Gen. Oblig. Series 2025 C, 5% 8/1/2027  | 3555000 | 3714874 |
| Philadelphia PA Gen. Oblig. Series 2025 C, 5% 8/1/2028  | 1000000 | 1070772 |
|  |  | 15600665 |
| Health Care - 0.9% |  |  |
| Dauphin Cnty PA Gen Auth Hlth Sys Rev (UPMC Proj.) Series 2016 A, 5% 6/1/2026  | 255000 | 258152 |
| Geisinger Auth PA Hlth Sys Rev (Kaiser Permanente Hlth System Proj.) Series 2020 B, 5% tender 4/1/2043 (b) | 3975000 | 4052778 |
| Montgomery Cnty PA Higher Ed & Health Auth Rev (Thomas Jefferson Univ-Abiington Proj.) Series 2018 D, 3.69% 9/1/2050 VRDN (b) | 8380000 | 8380001 |
| Pennsylvania Econ Dev Fing Auth UPMC Rev (UPMC Proj.) Series 2022 A, 5% 2/15/2026  | 125000 | 125964 |
| Philadelphia PA Auth For Indl Dev Revs (Thomas Jefferson Univ-Abiington Proj.) Series 2017 B, 3.69% 9/1/2050 VRDN (b) | 4165000 | 4165000 |
|  |  | 16981895 |
| Housing - 0.0% |  |  |
| Pennsylvania Hsg Fin Agy Single Family Mtg Rev (PA Single Family Mortgage Proj.) 5% 10/1/2025  | 700000 | 699999 |
| Resource Recovery - 3.5% |  |  |
| Pennsylvania Econ Dev Sld Wst (Republic Services Inc Proj.) Series 2014, 3.7% tender 6/1/2044 (b)(c) | 13400000 | 13400000 |
| Pennsylvania Econ Dev Sld Wst (Waste Management Inc Del Proj.) 4.25% tender 7/1/2041 (b)(c) | 4700000 | 4735549 |
| Pennsylvania Econ Dev Sld Wst (Waste Management Inc Del Proj.) Series 2013, 3.85% tender 8/1/2045 (b)(c) | 7900000 | 7898994 |
| Pennsylvania Econ Dev Sld Wst (Waste Management Inc Del Proj.) Series 2019 A, 3.875% tender 8/1/2038 (b)(c) | 7900000 | 7900129 |
| Pennsylvania Econ Dev Sld Wst (Waste Management Inc Del Proj.) Series 2021A 2, 4.6% tender 10/1/2046 (b)(c) | 15885000 | 15953244 |
| Pennsylvania Econ Dev Sld Wst (Waste Management Inc Del Proj.) Series 2021A, 4% tender 6/1/2041 (b)(c) | 7450000 | 7451700 |
| Pennsylvania Econ Dev Sld Wst (Waste Management Inc Del Proj.) Series 2025 A, 3.8% tender 6/1/2049 (b)(c) | 5700000 | 5698206 |
|  |  | 63037822 |
| Synthetics - 0.2% |  |  |
| Pennsylvania Turnpike Commission Participating VRDN Series 5096, 3.04% 6/1/2047 (Liquidity Facility JP Morgan Securities LLC) (b)(e) | 3400000 | 3400000 |
| Transportation - 0.3% |  |  |
| Allegheny County Airport Authority (Pittsburgh Intl Airport Proj.) Series 2021 A, 5% 1/1/2027 (c) | 655000 | 670915 |
| Allegheny County Airport Authority (Pittsburgh Intl Airport Proj.) Series 2023A, 5% 1/1/2027 (Assured Guaranty Inc Insured) (c) | 540000 | 552651 |
| Philadelphia PA Airport Rev Series 2021, 5% 7/1/2026 (c) | 635000 | 644668 |
| Philadelphia PA Airport Rev Series 2025B, 5% 7/1/2028 (c) | 565000 | 595853 |
| Philadelphia PA Airport Rev Series 2025B, 5% 7/1/2029 (c) | 2825000 | 3030581 |
|  |  | 5494668 |
| TOTAL PENNSYLVANIA |  | 105215049 |
| Rhode Island - 0.1%  |  |  |
| Education - 0.0% |  |  |
| Rhode Island St Student Ln 5% 12/1/2025 (c) | 555000 | 556752 |
| General Obligations - 0.1% |  |  |
| Pawtucket RI Gen. Oblig. BAN Series 2024 2, 4.5% 10/24/2025  | 2100000 | 2101084 |
| TOTAL RHODE ISLAND |  | 2657836 |
| South Carolina - 0.8%  |  |  |
| Electric Utilities - 0.1% |  |  |
| South Carolina St Svc Auth Rev 5% 12/1/2026  | 2370000 | 2434053 |
| Industrial Development - 0.2% |  |  |
| Berkeley Cnty SC Indl Dev Rev (Nucor Corp Proj.) 3.2% 4/1/2030 VRDN (b)(c) | 3000000 | 3000000 |
| Berkeley Cnty SC Indl Dev Rev (Nucor Corp Proj.) 3.2% 9/1/2028 VRDN (b)(c) | 800000 | 800000 |
|  |  | 3800000 |
| Synthetics - 0.5% |  |  |
| South Carolina Conway Hosp Participating VRDN Series 2022 019, 3.24% 7/1/2047 (Liquidity Facility Barclays Bank PLC) (b)(e) | 2400000 | 2400000 |
| South Carolina St Svc Auth Rev Participating VRDN 3.03% 12/1/2054 (Liquidity Facility JP Morgan Chase Bank NA) (b)(e) | 5000000 | 5000000 |
|  |  | 7400000 |
| Transportation - 0.0% |  |  |
| South Carolina St Ports Auth Series 2019 B, 5% 7/1/2027 (c) | 170000 | 175626 |
| TOTAL SOUTH CAROLINA |  | 13809679 |
| Tennessee - 1.0%  |  |  |
| Health Care - 0.8% |  |  |
| Chatanooga TN Health Ed & Hsg Fac Brd Rev (Commonspirit Health Proj.) 3.05% 5/1/2039 VRDN (b) | 15140000 | 15140000 |
| Synthetics - 0.1% |  |  |
| Metropolitan Govt Nashville & Davidson County Hlth & Edl Facs Participating VRDN Series 2024 MIZ9163, 3.12% 12/1/2062 (Liquidity Facility Mizuho Capital Markets LLC) (b)(e)(f) | 1540658 | 1540658 |
| Transportation - 0.1% |  |  |
| Metro Nashville Arpt Auth Rev 5% 7/1/2026 (c) | 430000 | 436547 |
| Metro Nashville Arpt Auth Rev 5% 7/1/2027 (c) | 650000 | 673076 |
|  |  | 1109623 |
| TOTAL TENNESSEE |  | 17790281 |
| Texas - 14.9%  |  |  |
| Education - 0.0% |  |  |
| Brazos Tex Higher Ed Auth Inc Student Loan Prog Rev 5% 4/1/2027 (c) | 500000 | 510964 |
| Electric Utilities - 0.3% |  |  |
| San Antonio TX Elec & Gas Rev 5% 2/1/2026  | 575000 | 579389 |
| San Antonio TX Elec & Gas Rev SIFMA Municipal Swap Index + 0.87%, 3.76% tender 2/1/2048 (b)(i) | 5390000 | 5389328 |
|  |  | 5968717 |
| General Obligations - 4.2% |  |  |
| Argyle TX Indpt Sch Dist Series 2025 B 1, 4% tender 8/15/2057 (Permanent Sch Fund of Texas Guaranteed) (b) | 2830000 | 2904975 |
| Argyle TX Indpt Sch Dist Series 2025 B 2, 4% tender 8/15/2057 (Permanent Sch Fund of Texas Guaranteed) (b) | 4380000 | 4554554 |
| Cuero TX Independent School District 5% 8/15/2026 (Permanent Sch Fund of Texas Guaranteed)  | 1240000 | 1266209 |
| Dallas TX Gen. Oblig. Series 2024A, 5% 2/15/2026  | 9495000 | 9575303 |
| Dallas TX ISD Series 2025A 2025A 1, 5% tender 2/15/2055 (Permanent Sch Fund of Texas Guaranteed) (b) | 8800000 | 8866533 |
| Denton Independent School District Series B1, 4% tender 8/15/2055 (Permanent Sch Fund of Texas Guaranteed) (b) | 8355000 | 8687968 |
| Hays TX Cons Indpt Schl Dist Series 2022, 5% 2/15/2026 (Permanent Sch Fund of Texas Guaranteed)  | 445000 | 448980 |
| Humble TX Indpt Sch Dist Series 2025, 5% 2/15/2026 (Permanent Sch Fund of Texas Guaranteed)  | 3825000 | 3860070 |
| Humble TX Indpt Sch Dist Series 2025, 5% 2/15/2028 (Permanent Sch Fund of Texas Guaranteed)  | 5700000 | 6041992 |
| Humble TX Indpt Sch Dist Series 2025, 5% 2/15/2029 (Permanent Sch Fund of Texas Guaranteed)  | 3490000 | 3784656 |
| Hutto TX Indpt Sch Dist Series 2015, 4% tender 2/1/2055 (Permanent Sch Fund of Texas Guaranteed) (b) | 2755000 | 2841185 |
| Navarro Tex Indpt Sch Dist Series 2025, 4% tender 2/15/2062 (Permanent Sch Fund of Texas Guaranteed) (b) | 3300000 | 3407748 |
| North East Indpt Sch Dist TX Series 2015, 3% 8/1/2027 (Permanent Sch Fund of Texas Guaranteed)  | 1095000 | 1095000 |
| North East Indpt Sch Dist TX Series 2024, 3.75% tender 8/1/2049 (Permanent Sch Fund of Texas Guaranteed) (b) | 1870000 | 1900041 |
| Northside TX Indpt Sch Dist Series 2023 B, 3% tender 8/1/2053 (Permanent Sch Fund of Texas Guaranteed) (b) | 5905000 | 5909716 |
| Northside TX Indpt Sch Dist Series 2024B, 3.45% tender 8/1/2054 (Permanent Sch Fund of Texas Guaranteed) (b) | 2120000 | 2142709 |
| Prosper Tex Indpt Sch Dist Series 2019 B, 4% tender 2/15/2050 (Permanent Sch Fund of Texas Guaranteed) (b) | 1050000 | 1059748 |
| Texarkana Tex Indpt Sch Dist Series 2024, 4% tender 2/15/2053 (Permanent Sch Fund of Texas Guaranteed) (b) | 4520000 | 4561962 |
| Texas Mun Gas Acquisition & Supply Corp IV Gas Supply Rev Series 2023A, 5.25% 1/1/2026 (BP PLC Guaranteed)  | 635000 | 638068 |
| Texas Mun Gas Acquisition & Supply Corp IV Gas Supply Rev Series 2023A, 5.25% 1/1/2027 (BP PLC Guaranteed)  | 635000 | 651077 |
| Texas Mun Gas Acquisition & Supply Corp IV Gas Supply Rev Series 2023B, 5.25% 1/1/2026 (BP PLC Guaranteed)  | 760000 | 763673 |
| Texas State Gen. Oblig. Series 2016, 5.5% 8/1/2026 (c) | 645000 | 658642 |
|  |  | 75620809 |
| Health Care - 0.1% |  |  |
| Tarrant Cnty TX Cultural Ed Facs Fin Corp Hosp Rev (Baylor Scott & White Health Proj.) 5% tender 11/15/2052 (b) | 2695000 | 2718316 |
| Housing - 0.4% |  |  |
| Dallas Tex Hsg Fin Corp Multi Family Hsg Rev Series 2023, 5% tender 7/1/2026 (b) | 1493000 | 1497582 |
| Dallas Tex Hsg Fin Corp Multi Family Hsg Rev Series 2023, 5% tender 7/1/2042 (b) | 1982000 | 2031320 |
| Dallas Tex Hsg Fin Corp Multi Family Hsg Rev Series 2023, 5% tender 9/1/2026 (b) | 1861000 | 1862924 |
| Houston Tex Fin Corp Multifamilty Hsg Rev 5% tender 8/1/2041 (b) | 1080000 | 1099301 |
| Texas St Affordable Hsg Corp Multifamily Hsg Rev Series 2023, 3.625% tender 1/1/2045 (b) | 1365000 | 1377471 |
|  |  | 7868598 |
| Industrial Development - 5.4% |  |  |
| Port Arthur TX Navigation Dist Env Fac Rev (Motiva Enterprises Llc Proj.) 3.45% 11/1/2040 VRDN (b) | 36775000 | 36775000 |
| Port Arthur TX Navigation Dist Env Fac Rev (Motiva Enterprises Llc Proj.) 3.5% 11/1/2040 VRDN (b) | 2600000 | 2600000 |
| Port Arthur TX Navigation Dist Env Fac Rev (Motiva Enterprises Llc Proj.) 3.55% 12/1/2027 VRDN (b)(c) | 58085000 | 58085000 |
|  |  | 97460000 |
| Resource Recovery - 1.3% |  |  |
| Mission TX Economic Dev Corp Solid Waste Disp Rev (Republic Services Inc Proj.) Series 2012, 3.85% tender 1/1/2026 (b)(c) | 3000000 | 2999618 |
| Mission TX Economic Dev Corp Solid Waste Disp Rev (Republic Services Inc Proj.) Series 2020A, 3.85% tender 5/1/2050 (b)(c) | 6900000 | 6899121 |
| Mission TX Economic Dev Corp Solid Waste Disp Rev (Waste Management Inc Del Proj.) Series 2020 B, 3.8% tender 7/1/2040 (b)(c) | 10350000 | 10346743 |
| Mission TX Economic Dev Corp Solid Waste Disp Rev (Waste Management Inc Del Proj.) Series 2023A, 4.25% tender 6/1/2048 (b)(c) | 2800000 | 2816254 |
|  |  | 23061736 |
| Special Tax - 0.1% |  |  |
| Fort Worth Tex Spl Tax Rev (Will Rogers Memorial Ctr Proj.) Series 2025, 5% 3/1/2028  | 500000 | 527103 |
| Houston TX Hotel Occ Tx & Spl Rev Series 2014, 5% 9/1/2026  | 955000 | 956658 |
|  |  | 1483761 |
| Synthetics - 1.4% |  |  |
| Brazos County Tex Hsg Fin Corp Participating VRDN Series 2023 XF3129, 3.17% 9/1/2041 (Liquidity Facility Mizuho Capital Markets LLC) (b)(e) | 1588307 | 1588307 |
| City of Houston TX Airport System Revenue Participating VRDN Series 2025 ZF1926, 3.01% 7/1/2053 (Liquidity Facility JP Morgan Chase Bank NA) (b)(c)(e) | 4260000 | 4260000 |
| El Paso TX Hsg Fin Auth Participating VRDN Series 2022 MIZ9104, 3.12% 8/1/2062 (Liquidity Facility Mizuho Capital Markets LLC) (b)(e)(f) | 2325282 | 2325282 |
| Houston Hsg Auth Fountainview Multi Fam Hsg Participating VRDN Series 2024 XG0585, 4.05% 7/1/2064 (Liquidity Facility Barclays Bank PLC) (b)(e) | 3300000 | 3300000 |
| Texas Affordable Hsg Corp Multi Fam Hsg Rev Participating VRDN 3.12% 10/1/2062 (Liquidity Facility Mizuho Capital Markets LLC) (b)(e)(f) | 13246483 | 13246483 |
|  |  | 24720072 |
| Transportation - 1.7% |  |  |
| Austin Tex Airport Sys Series 2022, 5% 11/15/2025 (c) | 1215000 | 1218000 |
| Dallas Fort Worth International Airport Series 2025 A 1, 5% 11/1/2027 (c)(d) | 5835000 | 6077576 |
| Dallas Fort Worth International Airport Series 2025 A 1, 5% 11/1/2028 (c)(d) | 20860000 | 22122971 |
| Galveston TX Wharves & Terminal Revenue Series 2023, 5.25% 8/1/2027 (c) | 315000 | 325236 |
| North TX Twy Auth Rev 5% 1/1/2026  | 730000 | 734151 |
|  |  | 30477934 |
| Water & Sewer - 0.0% |  |  |
| Garland TX Wtr & Swr Rev Series 2025, 5% 3/1/2029  | 510000 | 550372 |
| TOTAL TEXAS |  | 270441279 |
| Utah - 0.4%  |  |  |
| Health Care - 0.1% |  |  |
| Utah Cnty Utah Hosp Rev (Ihc Health Services Inc Proj.) Series 2020B 2, 5% tender 5/15/2060 (b) | 1565000 | 1594057 |
| Industrial Development - 0.1% |  |  |
| Box Elder Cnty Utah Pollution Ctl Rev (Nucor Corp Proj.) 3.1% 4/1/2028 VRDN (b) | 1100000 | 1100000 |
| Transportation - 0.2% |  |  |
| Salt Lake City UT Arpt Rev Series 2023A, 5% 7/1/2026 (c) | 635000 | 644668 |
| Salt Lake City UT Arpt Rev Series 2023A, 5% 7/1/2027 (c) | 595000 | 616640 |
| Salt Lake City UT Arpt Rev Series 2025A, 5% 7/1/2027 (c) | 2540000 | 2632378 |
|  |  | 3893686 |
| TOTAL UTAH |  | 6587743 |
| Vermont - 0.1%  |  |  |
| Education - 0.1% |  |  |
| Vermont St Stud Assit Corp 5% 6/15/2026 (c) | 1080000 | 1091994 |
| Vermont St Stud Assit Corp Series 2019 A, 5% 6/15/2026 (c) | 775000 | 783607 |
|  |  | 1875601 |
| TOTAL VERMONT |  | 1875601 |
| Virginia - 0.5%  |  |  |
| Electric Utilities - 0.0% |  |  |
| Halifax Cnty VA Indl Dev Auth Pollution Ctl Rev (Virginia Electric And Power Co Proj.) 3.8% tender 12/1/2041 (b) | 1115000 | 1131351 |
| Escrowed/Pre-Refunded - 0.2% |  |  |
| Virginia Small Business Fing Auth Environmental Facs Rev 4% tender 11/1/2052 (b)(c) | 2900000 | 2901690 |
| Housing - 0.2% |  |  |
| Alexandria VA Redv & Hsg Auth Multi Fam Hsg Rev Series 2024, 3.4% tender 12/1/2054 (b) | 3525000 | 3526504 |
| Synthetics - 0.1% |  |  |
| Lynchburg Economic Development Authority Participating VRDN Series 2018 XL0075, 3.19% 1/1/2055 (Liquidity Facility JP Morgan Chase Bank NA) (b)(e) | 250000 | 250000 |
| Nat'l Sr Campuses Participating VRDN Series 2022 028, 3.24% 1/1/2045 (Liquidity Facility Barclays Bank PLC) (b)(e) | 1100000 | 1100000 |
|  |  | 1350000 |
| TOTAL VIRGINIA |  | 8909545 |
| Washington - 2.2%  |  |  |
| Health Care - 0.6% |  |  |
| Washington St Health Care Facs Auth Rev (Multicare Health System, WA Proj.) 5% 8/15/2027  | 4500000 | 4673361 |
| Washington St Health Care Facs Auth Rev (Multicare Health System, WA Proj.) 5% 8/15/2028  | 4600000 | 4873013 |
| Washington St Health Care Facs Auth Rev (Multicare Health System, WA Proj.) 5% 8/15/2029  | 825000 | 888912 |
|  |  | 10435286 |
| Housing - 0.0% |  |  |
| Seattle Wash Hsg Auth Rev Series 2023, 5% 6/1/2027  | 765000 | 778280 |
| Washington St Hsg Fin Commn Multifamily Hsg Rev Series 2023, 5% tender 12/1/2043 (b) | 1407000 | 1424494 |
|  |  | 2202774 |
| Transportation - 1.4% |  |  |
| Port Seattle WA Rev Series 2018A, 5% 5/1/2027 (c) | 2610000 | 2693780 |
| Port Seattle WA Rev Series 2021C, 5% 8/1/2029 (c) | 8635000 | 9302403 |
| Port Seattle WA Rev Series 2022B, 5% 8/1/2026 (c) | 995000 | 1012054 |
| Port Seattle WA Rev Series 2024B, 5% 7/1/2029 (c) | 10415000 | 11203614 |
| Port Seattle WA Rev Series B, 5% 10/1/2027 (c) | 635000 | 641103 |
|  |  | 24852954 |
| Water & Sewer - 0.2% |  |  |
| King Cnty WA Swr Rev 0.875% tender 1/1/2042 (b) | 3430000 | 3403085 |
| TOTAL WASHINGTON |  | 40894099 |
| West Virginia - 0.8%  |  |  |
| Electric Utilities - 0.2% |  |  |
| West Virginia Economic Dev Auth Sold Waste Disp Facs Rev (Appalachian Power Co Proj.) Series 2009B, 3.7% tender 12/1/2042 (b) | 3980000 | 4076716 |
| Health Care - 0.2% |  |  |
| West Virginia St Hosp Fin Auth Hosp Rev (West Virginia United Health Sy Stem Proj.) Series 2018 E, 3.5% 6/1/2033 VRDN (b) | 4310000 | 4310000 |
| Housing - 0.2% |  |  |
| West VA St Hsg Dev Fd Multifamily Hsg Rev Series 2024, 5% tender 8/1/2027 (b) | 3170000 | 3268045 |
| Industrial Development - 0.2% |  |  |
| West Virginia Economic Dev Auth Sold Waste Disp Facs Rev (Appalachian Power Co Proj.) Series 2011A, 3.3% tender 1/1/2041 (b)(c) | 2985000 | 3006396 |
| TOTAL WEST VIRGINIA |  | 14661157 |
| Wisconsin - 0.6%  |  |  |
| Education - 0.0% |  |  |
| Wisconsin St Health & Edl Facs Auth Rev (Marquette University, WI Proj.) 5% 10/1/2025  | 585000 | 585000 |
| General Obligations - 0.2% |  |  |
| Milwaukee WI Gen. Oblig. 2% 3/1/2027  | 1965000 | 1940685 |
| Milwaukee WI Gen. Oblig. 5% 4/1/2026  | 1105000 | 1116366 |
|  |  | 3057051 |
| Housing - 0.2% |  |  |
| Wisconsin Hsg & Eda Hsg Rev (Wi Hsg Rev 3/12/74 Proj.) 2.99% 5/1/2042, LOC Bank of America NA VRDN (b)(c) | 2720000 | 2720001 |
| Wisconsin Hsg & Eda Hsg Rev (Wi Mhsg Rev 2007 Proj.) Series 2023 E, 3.875% tender 11/1/2054 (b) | 1165000 | 1165894 |
|  |  | 3885895 |
| Industrial Development - 0.2% |  |  |
| Wisconsin St Health & Edl Facs Auth Rev (WI Forensic Science Proj Proj.) Series 2024, 5% 8/1/2027 (g) | 3040000 | 3080901 |
| Transportation - 0.0% |  |  |
| Milwaukee Cnty WI Arpt Rev Series 2023 A, 5% 12/1/2026 (c) | 510000 | 521473 |
| TOTAL WISCONSIN |  | 11130320 |
| Wyoming - 0.5%  |  |  |
| Electric Utilities - 0.5% |  |  |
| Lincoln Cnty Wyo Environmental Impt Rev (Pacificorp Proj.) Series 1995, 3.17% 11/1/2025 VRDN (b)(c) | 8800000 | 8800000 |
| <br> **TOTAL MUNICIPAL SECURITIES**<br> (Cost $1,838,992,138) |  | <br> **1843356481** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 0.4%** | &nbsp;&nbsp;**Money Market Funds - 0.4%** | &nbsp;&nbsp;**Money Market Funds - 0.4%** | &nbsp;&nbsp;**Money Market Funds - 0.4%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Municipal Cash Central Fund (j)(k)<br>(Cost $7,995,923)<br>| 3.29 | 7994324 | **7995923** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 101.5%**<br> (Cost $1,846,988,061)<br>| <br>**1851352404** |
| **NET OTHER ASSETS (LIABILITIES) - (1.5)%**  | **(27333520)** |
| **NET ASSETS - 100.0%** | **1824018884** |

---

**Security Type Abbreviations**

BAN - BOND ANTICIPATION NOTE <br> VRDN - VARIABLE RATE DEMAND NOTE (A debt instrument that is payable upon demand, either daily, weekly or monthly)

**Legend**

(a) Amount is stated in United States dollars unless otherwise noted.

(b) Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.

(c) Private activity obligations whose interest is subject to the federal alternative minimum tax for individuals.

(d) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

(e) Provides evidence of ownership in one or more underlying municipal bonds. Coupon rates are determined by re-marketing agents based on current market conditions.

(f) Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $73,047,543 or 4.0% of net assets.

(g) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $17,859,629 or 1.0% of net assets.

(h) Zero coupon bond which is issued at a discount.

(i) Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors.

(j) Information in this report regarding holdings by state and security types does not reflect the holdings of the Fidelity Central Fund.

(k) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

---

| | | |
|:---|:---|:---|
| Additional information on each restricted holding is as follows: | Additional information on each restricted holding is as follows: | Additional information on each restricted holding is as follows: |
| Security | Acquisition Date | Acquisition Cost ($)<br>|
| Arizona Ind Dev Auth Multi Fam Hsg Auth Participating VRDN Series 2023 MIZ9157, 3.12% 12/1/2063 (Liquidity Facility Mizuho Capital Markets LLC) | 12/21/2023 | 1905969 |
| California Statewide Cmntys Dev Auth Multi Fam Hsg Rev Participating VRDN Series 2024 MIZ9162, 3.1% 12/1/2062 (Liquidity Facility Mizuho Capital Markets LLC) | 1/18/2024 | 645000 |
| El Paso TX Hsg Fin Auth Participating VRDN Series 2022 MIZ9104, 3.12% 8/1/2062 (Liquidity Facility Mizuho Capital Markets LLC) | 4/1/2022 | 10391875 |
| El Paso TX Hsg Fin Auth Participating VRDN Series 2022 MIZ9104, 3.12% 8/1/2062 (Liquidity Facility Mizuho Capital Markets LLC) | 8/5/2022 | 2325282 |
| Los Angeles CA Multi Fam Mtg Rev Participating VRDN Series 2025 MIZ9221, 3.1% 8/4/2028 (Liquidity Facility Mizuho Capital Markets LLC) | 8/5/2025 | 10550000 |
| Metropolitan Govt Nashville & Davidson County Hlth & Edl Facs Participating VRDN Series 2024 MIZ9163, 3.12% 12/1/2062 (Liquidity Facility Mizuho Capital Markets LLC) | 1/18/2024 | 1540658 |
| Miami Dade County Hsg Multi Fam Hsg Rev Participating VRDN Series 2022 MIZ9087, 3.12% 11/1/2061 (Liquidity Facility Mizuho Capital Markets LLC) | 1/27/2022 | 1015000 |
| Nat'l Fin Auth NH Specialty Bonds Series 2024 MS0023, 3.19% tender 12/15/2030 (Liquidity Facility Morgan Stanley Bank NA) | 4/16/2024 | 2400000 |
| San Francisco City & County Multi Fam Hsg Rev Participating VRDN 3.1% 12/1/2052 (Liquidity Facility Mizuho Capital Markets LLC) | 12/19/2022 - 1/30/2023 | 25415000 |
| St Louis County Ind Dev Auth Multi Fam Hsg Rev Participating VRDN 3.12% 10/1/2063 (Liquidity Facility Mizuho Capital Markets LLC) | 11/17/2023 | 1969501 |
| Steele Duncan Plaza LLC Participating VRDN Series 2022 MIZ9103, 3.12% 8/1/2062 (Liquidity Facility Mizuho Capital Markets LLC) | 8/11/2022 | 1642775 |
| Texas Affordable Hsg Corp Multi Fam Hsg Rev Participating VRDN 3.12% 10/1/2062 (Liquidity Facility Mizuho Capital Markets LLC) | 1/27/2023 | 13246483 |

---

**Affiliated Central Funds**

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Municipal Cash Central Fund | 69248358 | 452800207 | 514052642 | 844758 | - | - | 7995923 | 7994324 | 0.3% |
| Total | 69248358 | 452800207 | 514052642 | 844758 | - | - | 7995923 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.

**Investment Valuation**

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.

The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - Unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value investments by major category are as follows:

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. Municipal Securities are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

*The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.*

*Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.*

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Fidelity Municipal Trust

- **b. Investment Company Act file number:** 811-02628

- **c. CIK number of Registrant:** 0000035373

- **d. LEI of Registrant:** MC33ZH3HL1S8YN987650

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

  - **Street Address 1:** 245 Summer Street

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02210

  - **Telephone number:** 1-800-FIDELITY

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

- **a. Name of Series:** Fidelity Conservative Income Municipal Bond Fund

- **b. EDGAR series identifier (if any):** S000042537

- **c. LEI of Series:** 549300Q02I54MSXQ2O87

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1862101863.48

**Total Liabilities:** $38058127.11

**Net Assets:** $1824043736.37

**Delayed Delivery Securities:** $33412418.70

**Cash Not Reported:** $174.68

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 16331.75406490 | **1-Year:** 65336.41305050 | **5-Year:** 42373.85204040 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

- **3-Month:** 2938.75032023 | **1-Year:** 2536.24961539 | **5-Year:** 1368.74897492 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000131629 | 0.33%                | 0.34%                | 0.15%                |
| Class ID C000243074 | 0.33%                | 0.34%                | 0.15%                |
| Class ID C000243072 | 0.34%                | 0.35%                | 0.15%                |
| Class ID C000243073 | 0.32%                | 0.32%                | 0.13%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $23049.17                | $1564558.43                                |
| Month 2  | $95376.65                | $1088413.43                                |
| Month 3  | $13671.90                | $-614428.22                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CALIFORNIA MUN FIN AUTH SOLID WASTE DISP REV                                              | CA ST MFA SW 3.85% MT @                                                   | CUSIP: 13048RAN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5800000 | PA      | $5799439.14   | 0.32%             | 2041-11-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| STANTON CNTY NE INDL DEV REV                                                              | NE NUCOR 98 V7@                                                           | CUSIP: 854743AE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $625000.00    | 0.03%             | 2028-06-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH DC ARPTS ATH                                                            | MTRO WA DC ARPT 5% 10/1/2028 @                                            | CUSIP: 592647LL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2335000 | PA      | $2483308.93   | 0.14%             | 2028-10-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | NY MTA TRANSP 2023-XF1649-LA Q=JPMC BK D7                                 | CUSIP: 88035G3V8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4480000 | PA      | $4480000.00   | 0.25%             | 2045-11-15      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH ECONOMIC DEV REV                                                      | IN FIN ECON REP SERV 2012 MT@                                             | CUSIP: 45505RBT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2800000 | PA      | $2798744.76   | 0.15%             | 2028-05-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| COOK CNTY IL                                                                              | COOK CY IL 5% 11/15/2025                                                  | CUSIP: 213185MT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2775000 | PA      | $2782541.34   | 0.15%             | 2025-11-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MOBILE AL IDB POLLUTN CTL REV                                                             | MOBILE AL IDB 3.375% MT                                                   | CUSIP: 607167EA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1045000 | PA      | $1060817.43   | 0.06%             | 2034-06-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| BASELINE MET DIST NO 1 SPL REVCOLO                                                        | BASELINE MET DI 5% 12/1/2025                                              | CUSIP: 069826AE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    340000 | PA      | $341021.43    | 0.02%             | 2025-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| HEALTH CARE AUTH FOR BAPT HLTH ALA                                                        | HLTH BAPTIST AL 2013B V7                                                  | CUSIP: 42219UBR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2923000 | PA      | $2923000.00   | 0.16%             | 2042-11-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| AMERICAN MUN PWR REV                                                                      | AMERICAN MUN OH 5% 2/15/2026                                              | CUSIP: 02765URM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3130000 | PA      | $3157183.74   | 0.17%             | 2026-02-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | CHICAGO IL TRANSIT SALES TX 2024-XF3290-BNY Q=WF D7                       | CUSIP: 88035J4S8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5500000 | PA      | $5500000.00   | 0.30%             | 2049-12-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST SCH BLDG AUTH DEDICATED SALES TAX REV                                    | MA SCH BLDG 5% 8/15/2027                                                  | CUSIP: 576000RT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2925000 | PA      | $2928402.36   | 0.16%             | 2027-08-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MONROE CNTY N Y INDL DEV AGY MULTI-FAMILY HSG REV                                         | MONRO NY 61075N 5% 7/1/2028                                               | CUSIP: 61075NAC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    947000 | PA      | $981411.90    | 0.05%             | 2028-07-01      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA GAS SUPPLY REV                                                    | MAIN STR NAT GA 4% MT                                                     | CUSIP: 56035DCZ3<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   3870000 | PA      | $3964498.43   | 0.22%             | 2052-05-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| MIZUHO FLOATER / RESIDUAL TR VAR STS                                                      | AZ IDA MF HSG ROERS FLAGSTAFF 2023-MIZ9157 MZ/MZ D35                      | CUSIP: 60700HUK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1905969 | PA      | $1905969.00   | 0.10%             | 2063-12-01      | Variable      | 0.03%                 | Yes           |                  2 | On Loan: No      |
| COOK CNTY ILL SALES TAX REV                                                               | COOK CNY IL STR 5% 11/15/2025                                             | CUSIP: 213248CU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    430000 | PA      | $431034.84    | 0.02%             | 2025-11-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PORT AUTH NY and NJ                                                                       | PORT NY NJ 5% 7/15/2026 @                                                 | CUSIP: 73358W5B6<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   2550000 | PA      | $2589996.75   | 0.14%             | 2026-07-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH ECONOMIC DEV REV                                                      | IN FIN ECON VAR MT@                                                       | CUSIP: 45505RBN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2998655.10   | 0.16%             | 2028-05-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALAGAS PROJ REV                                                | BLACK BELT ENE 5.5% 6/1/2049 MT                                           | CUSIP: 09182TCR6<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1530000 | PA      | $1639767.56   | 0.09%             | 2049-06-01      | Variable      | 0.06%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | COLORADO HEALTH(COMMONSPIRIT HE) 2022-XM1061-ALL Q=JPMC BANK DR7          | CUSIP: 88035DU37<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5880000 | PA      | $5880000.00   | 0.32%             | 2052-11-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| ALBANY NY                                                                                 | ALBANY CITY NY 3/20/26 BAN                                                | CUSIP: 012429CF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  18300000 | PA      | $18378188.58  | 1.01%             | 2026-03-20      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| DENVER CO CITY and CNTY ARPT                                                              | DENVER CO ARPT 5% 12/1/2027 @                                             | CUSIP: 249182LA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2825000 | PA      | $2954359.29   | 0.16%             | 2027-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| DALLAS TX ISD                                                                             | DALLAS TX ISD 25A-1 G=PSF MT                                              | CUSIP: 235308Q30<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8800000 | PA      | $8866533.28   | 0.49%             | 2055-02-15      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | SC ST PUB SVC 2024-XM1175-BNY AG/Q=JP D7                                  | CUSIP: 88035JGC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5000000.00   | 0.27%             | 2054-12-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| OHIO ST HOSP REV                                                                          | OH UNIV HOSP SYS R-FLOAT V7                                               | CUSIP: 67756CCB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6355000 | PA      | $6355000.00   | 0.35%             | 2033-01-15      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| ST JAMES PARISH LA REV                                                                    | LA NUCOR 10B1 V7                                                          | CUSIP: 790103AH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1650000.00   | 0.09%             | 2040-11-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | HILLSBOROUGH FL TAMPA ARPT 2025-ZL0629-BLK Q=JP D7@                       | CUSIP: 88035PHY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3810000 | PA      | $3810000.00   | 0.21%             | 2054-10-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE        | SAN FRAN ARPT 5% 5/1/2026 @                                               | CUSIP: 79766DVA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3760000 | PA      | $3808631.84   | 0.21%             | 2026-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH ENVIRONMENTAL FACS REV                                  | VA SM BUS PURE SALMON LLC PRE MT@                                         | CUSIP: 92810RAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2900000 | PA      | $2901690.41   | 0.16%             | 2052-11-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA GAS SUPPLY REV                                                    | MAIN STR NAT GA 5% 9/1/2026                                               | CUSIP: 56035DGG1<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    350000 | PA      | $355718.69    | 0.02%             | 2026-09-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH DC ARPTS ATH                                                            | MTRO WA DC ARPT 5% 10/1/2027 @                                            | CUSIP: 592647MK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4445000 | PA      | $4637643.63   | 0.25%             | 2027-10-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HEALTH and EDL FACS AUTH REVENUE                                           | CONN ST HEALTH 2.80% 7/1/2057                                             | CUSIP: 20775DUY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10995000 | PA      | $10986913.18  | 0.60%             | 2057-07-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| NORTHERN MUN PWR AGY MN ELEC                                                              | N MUNI PWR 5% 1/1/2027                                                    | CUSIP: 665444LC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $375048.12    | 0.02%             | 2027-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| LIBERTY NY DEV CORP REV                                                                   | LIBERTY NY DEV 2015-XM0106 LIQ MORGAN STANLEY                             | CUSIP: 531127AM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2578500 | PA      | $2578500.00   | 0.14%             | 2035-10-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| PORT PORTLAND OR ARPT REV                                                                 | PORTLND OR ARPT 5% 7/1/2026                                               | CUSIP: 735240U43<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    360000 | PA      | $366695.39    | 0.02%             | 2026-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| IOWA FIN AUTH SOLID WASTE FACSREV                                                         | IA MIDAMERICAN - BRK 17 V7@                                               | CUSIP: 46246YAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3625000 | PA      | $3625000.00   | 0.20%             | 2047-12-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH DC ARPTS ATH                                                            | MTRO WA DC ARPT 5% 10/1/2026 @                                            | CUSIP: 592647FX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $841908.29    | 0.05%             | 2026-10-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| BURKE CNTY GA DEV AUTH PCR                                                                | BURKE GA PCR 3.7% MT                                                      | CUSIP: 121342QM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1285000 | PA      | $1311961.87   | 0.07%             | 2032-10-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| DALLAS TEX HSG FIN CORP MULTI FAMILY HSG REV                                              | DALLAS MHSG 5% MT                                                         | CUSIP: 235298BT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1861000 | PA      | $1862923.90   | 0.10%             | 2026-09-01      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| BERKELEY CNTY SC INDL DEV REV                                                             | SC NUCOR 97 V7@                                                           | CUSIP: 084185DD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3000000.00   | 0.16%             | 2030-04-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| GREATER ORLANDO AVIATION AUTH                                                             | GT ORLANDO ARPT 5% 10/1/2025 @                                            | CUSIP: 3922744C7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $365000.00    | 0.02%             | 2025-10-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| SOUTHFIELD MICH PUB SCHS                                                                  | SOUTHFIELD MICH 5% 5/1/2026                                               | CUSIP: 844215RA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1475000 | PA      | $1494851.44   | 0.08%             | 2026-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PORT SEATTLE WA REV                                                                       | PORT SEATTLE 5% 5/1/2027 @                                                | CUSIP: 735389C63<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2610000 | PA      | $2693780.48   | 0.15%             | 2027-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY TRANSITIONALFIN AUTH REV                                                | NEW YORK AUTH 5% 11/1/2027                                                | CUSIP: 64972JSK5<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   5895000 | PA      | $6211792.58   | 0.34%             | 2027-11-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| SULLIVAN WEST CENT SCH DIST NY                                                            | SULLIVAN WEST NY CSD 6/25/26 BAN                                          | CUSIP: 865353DG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7200000 | PA      | $7246897.92   | 0.40%             | 2026-06-25      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT ARPT REV                                                                | SLT LAKE U 5% 7/1/2027@                                                   | CUSIP: 795576MF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2540000 | PA      | $2632377.51   | 0.14%             | 2027-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT ARPTS REV                                                             | LA CA AIRPT 5% 5/15/2027 @                                                | CUSIP: 5444453F4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5780000 | PA      | $5997436.09   | 0.33%             | 2027-05-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PAWTUCKET R I                                                                             | PAWTUCKET CITY RI 24-2 10/24/25 BAN                                       | CUSIP: 7041654L0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2101084.23   | 0.12%             | 2025-10-24      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALAGAS PROJ REV                                                | BLACK BELT ENE 5% 8/1/2029                                                | CUSIP: 09182TFE2<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1282708.68   | 0.07%             | 2029-08-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| ITHACA CITY NEW YORK                                                                      | ITHACA CITY NY 7/17/26 BAN                                                | CUSIP: 465650U80<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2600000 | PA      | $2623060.96   | 0.14%             | 2026-07-17      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MIZUHO FLOATER / RESIDUAL TR VAR STS                                                      | NASHVILLE and DAVIDSON TN HLTH and EDUC EWING HGTS 2024-MIZ9163 MZ/MZ D35 | CUSIP: 60700HVD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1540658 | PA      | $1540658.00   | 0.08%             | 2062-12-01      | Variable      | 0.03%                 | Yes           |                  2 | On Loan: No      |
| DECATUR AL INDL DEV BRD EXEMPT                                                            | AL NUCOR 03A V7@                                                          | CUSIP: 242846AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9426000 | PA      | $9426000.00   | 0.52%             | 2036-08-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| MOBILE AL IDB POLLUTN CTL REV                                                             | MOBILE AL IDB 3.65% MT                                                    | CUSIP: 607167DX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3600000 | PA      | $3605266.44   | 0.20%             | 2034-07-15      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| NEW ORLEANS LA AVIATION BOARD                                                             | N ORLEANS AVIAT 5% 1/1/2026@                                              | CUSIP: 64763HLX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2090000 | PA      | $2100780.43   | 0.12%             | 2026-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| POLK CO FL HSG FIN AUTH MFH RV                                                            | POLK CO FL HFA 4.15% MT                                                   | CUSIP: 731903BN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1296000 | PA      | $1304630.32   | 0.07%             | 2040-12-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| DALLAS TX                                                                                 | DALLAS TX 5% 2/15/2026                                                    | CUSIP: 235219VZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9495000 | PA      | $9575303.01   | 0.52%             | 2026-02-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| ESCAMBIA CNTY FLA HSG FIN AUTHMULTIFAMILY HSG REV                                         | ESCAM FL 3.8% MT                                                          | CUSIP: 296121FQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4400000 | PA      | $4423579.60   | 0.24%             | 2027-06-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| NORTH TX TWY AUTH REV                                                                     | NORTH TX TOLL 5% 1/1/2026                                                 | CUSIP: 66285WE77<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    730000 | PA      | $734151.36    | 0.04%             | 2026-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| BURKE CNTY GA DEV AUTH PCR                                                                | BURKE GA PCR 3.8% MT                                                      | CUSIP: 121342QG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1885000 | PA      | $1894810.11   | 0.10%             | 2032-10-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| ARGYLE TX INDPT SCH DIST                                                                  | ARGYLE TX ISD 4% G=PSF 8/15/2057 MT                                       | CUSIP: 040319X26<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2830000 | PA      | $2904974.91   | 0.16%             | 2057-08-15      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| BROWARD CO FL ARPT                                                                        | BROW CO FL ARPT 5% 10/1/2028 @                                            | CUSIP: 114894XH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $286095.92    | 0.02%             | 2028-10-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| ST JOHN BAPTIST PARISH LA REV                                                             | ST JOHN BAP REV 4.05% MT                                                  | CUSIP: 79020FAW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1815000 | PA      | $1830761.64   | 0.10%             | 2037-06-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| HIGHER ED STUDENT ASSISTANCE AUTH NJ STUDENT LN REV                                       | NJ STUD LOAN 5% 12/1/2025 @                                               | CUSIP: 646080WH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1670000 | PA      | $1674536.39   | 0.09%             | 2025-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| DALLAS TEX HSG FIN CORP MULTI FAMILY HSG REV                                              | CITY OF DALLAS HOUSING FINANCE CORPORATION 2023 5% 7/1/2042               | CUSIP: 235298BU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1982000 | PA      | $2031320.09   | 0.11%             | 2042-07-01      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSPORTATION DEVELOPMENT CORP                                                  | NY TRANS CORP 5% 12/1/2026 @                                              | CUSIP: 650116FA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3175000 | PA      | $3245096.70   | 0.18%             | 2026-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | NJ TRANSP FD 2021-XM0929-MST Q=JPMC BK D7                                 | CUSIP: 88034XXV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4535000 | PA      | $4535000.00   | 0.25%             | 2050-06-15      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| COLUMBUS-FRANKLIN CNTY OHIO FIN AUTH MULTIFAMILY HSG REV                                  | COLUMBUS HSG RE 5% 7/1/2045 MT                                            | CUSIP: 19910XAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1333000 | PA      | $1357686.63   | 0.07%             | 2045-07-01      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| PORT AUTH NY and NJ                                                                       | PORT NY NJ 5% 12/1/2026 @                                                 | CUSIP: 73358XJU7<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   5495000 | PA      | $5625623.84   | 0.31%             | 2026-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY AL SWR REV                                                                 | JEFF AL W+S 5% 10/1/2025                                                  | CUSIP: 472682YU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $900000.00    | 0.05%             | 2025-10-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | BRAZOS TX HSG FIN CORP 2023-XF3129-AMR MZ/MZ D7                           | CUSIP: 88035GQP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1588307 | PA      | $1588307.00   | 0.09%             | 2041-09-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| YUMA AZ INDL DEV AUTH HOSP REV                                                            | YUMA AZ HOSP 5% 8/1/2026                                                  | CUSIP: 988514CG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1145684.14   | 0.06%             | 2026-08-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH SOLID WASTE DISP REV                                              | CA SOLID WASTE REPUBLIC SEVICES 21A MT@                                   | CUSIP: 13048RAJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8100000 | PA      | $8100000.00   | 0.44%             | 2041-07-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY CITY IDA REV                                                                  | NYC IDA 5% 1/1/2026                                                       | CUSIP: 64971PKU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    380000 | PA      | $381961.22    | 0.02%             | 2026-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PORTS AUTH                                                              | SC PORT AUTH 5% 7/1/2027@                                                 | CUSIP: 837123JT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    170000 | PA      | $175626.41    | 0.01%             | 2027-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST SPL TAX OBLIG                                                              | CT SPEC TAX 5% 8/1/2026                                                   | CUSIP: 207758TY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $475834.15    | 0.03%             | 2026-08-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NORTHEAST OHIO MED UNIV GEN RCPTS                                                         | NE OHIO MED UNI 5% 12/1/2025                                              | CUSIP: 66433RCG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    170000 | PA      | $170484.86    | 0.01%             | 2025-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | MD MF HSG WOODINGTON GARDENS 2024-XF3222-AMR MZ/MZ D7                     | CUSIP: 88035HK96<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2810000 | PA      | $2810000.00   | 0.15%             | 2054-04-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | CA MF HSG FIN AGY 2023-XF3127-AMR MZ/MZ D7                                | CUSIP: 88035F4X5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1755000 | PA      | $1755000.00   | 0.10%             | 2030-06-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH SOLID WASTE DISP REV                                              | CA SOLID WASTE REPUBLIC SEVICES 21B MT@                                   | CUSIP: 13048RAK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3200000 | PA      | $3198543.04   | 0.18%             | 2051-07-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| MIZUHO FLOATER / RESIDUAL TR VAR STS                                                      | SAINT LOUIS MO IDA HAWKINS VILLAGE APTS 2023-MIZ9153 MZ/MZ D35            | CUSIP: 60700HTX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1969501 | PA      | $1969501.00   | 0.11%             | 2063-10-01      | Variable      | 0.03%                 | Yes           |                  2 | On Loan: No      |
| CHICAGO IL OHARE INTL ARPT REV                                                            | CHICAGO OHARE 5% 1/1/2026 @                                               | CUSIP: 1675937E6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3065000 | PA      | $3081583.80   | 0.17%             | 2026-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS IND LOC PUB IMPT BD BK                                                       | INDIANAPOL SER A-1 5% 1/1/2027@                                           | CUSIP: 45528UTD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1270000 | PA      | $1276775.32   | 0.07%             | 2026-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MED CARE CM HSP                                                            | NC MED CARE HSP 5% MT                                                     | CUSIP: 65820HN90<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2525000 | PA      | $2542493.96   | 0.14%             | 2051-02-01      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALAGAS PROJ REV                                                | BLACK BELT ENE 5.25% 12/1/2025                                            | CUSIP: 09182TBY2<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    335000 | PA      | $335994.85    | 0.02%             | 2025-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| ALABAMA HSG FIN AU MF HSG REV                                                             | AL HFA MFH RV 5% MT                                                       | CUSIP: 01030PGZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2675000 | PA      | $2800670.70   | 0.15%             | 2029-02-01      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| NAVARRO TEX INDPT SCH DIST                                                                | NAVARRO ISD 4% 2/15/28 MT                                                 | CUSIP: 639285SW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3300000 | PA      | $3407747.97   | 0.19%             | 2062-02-15      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| DETROIT MI                                                                                | DETROIT MI 5% 5/1/2026                                                    | CUSIP: 2510936G0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1313956.54   | 0.07%             | 2026-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| DIRECTOR ST NV DPT BUS and IND SOLID WASTE DISP REV                                       | NV SLD WST 3.95% @ MT                                                     | CUSIP: 25459JAF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1149830.38   | 0.06%             | 2026-12-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTHRV                                                                       | ILLINOIS FN RV 5% 1/1/2027                                                | CUSIP: 45204FG25<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2372161.35   | 0.13%             | 2027-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| OSCEOLA CNTY FLA TRANSN REV                                                               | OSCEOLA FL TRAN 0% 10/1/2027                                              | CUSIP: 688031EG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    360000 | PA      | $335083.14    | 0.02%             | 2027-10-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| HONOLULU HI CITY and CNTY MFR                                                             | HONOLULU HI MFR 5% 12/1/2026 MT                                           | CUSIP: 438697BQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3480000 | PA      | $3525517.01   | 0.19%             | 2027-06-01      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | NY MTA TRANS 2022-XF1355-NUV Q=JPMC BK D7                                 | CUSIP: 88035DDN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4445000 | PA      | $4445000.00   | 0.24%             | 2043-11-15      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH DC ARPTS ATH                                                            | MTRO WA DC ARPT 5% 10/1/2025 @                                            | CUSIP: 592647MH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000000.00   | 0.11%             | 2025-10-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MIZUHO FLOATER / RESIDUAL TR VAR STS                                                      | TX ST MF HSG ROERS BOERNE 2023-MIZ9124 MZ/MZ D35                          | CUSIP: 60700HQD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  13246483 | PA      | $13246483.00  | 0.73%             | 2062-10-01      | Variable      | 0.03%                 | Yes           |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | HI ST ARPT 2025-ZF1831-BLK Q=BA D7@                                       | CUSIP: 88035MPK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $900000.00    | 0.05%             | 2048-07-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALA GAS SUPPLY REV                                             | BLACK BELT ALAB 4% MT                                                     | CUSIP: 09182NCB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3585000 | PA      | $3648423.67   | 0.20%             | 2052-07-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| OLATHE KS                                                                                 | OLATHE KS 2.50% 10/1/2027                                                 | CUSIP: 679384KP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    720000 | PA      | $716828.33    | 0.04%             | 2027-10-01      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| MIZUHO FLOATER / RESIDUAL TR VAR STS                                                      | EL PASO TX HSG FIN 2022-MIZ9104 MZ/MZ D35                                 | CUSIP: 60700HNE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2325282 | PA      | $2325282.00   | 0.13%             | 2062-08-01      | Variable      | 0.03%                 | Yes           |                  2 | On Loan: No      |
| NORTHERN MUN PWR AGY MN ELEC                                                              | N MUNI PWR 5% 1/1/2026                                                    | CUSIP: 665444LB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $241262.18    | 0.01%             | 2026-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY AZ IDA REV                                                                  | MARICOPA IDA 5% MT                                                        | CUSIP: 56682HDU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2390000 | PA      | $2415869.84   | 0.13%             | 2053-01-01      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | TAMPA FL INTL ARPT 2024-XF1740-MFS Q=JP D7@                               | CUSIP: 88035JME9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5005000 | PA      | $5005000.00   | 0.27%             | 2054-10-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY GO                                                                          | NYC NY 5% 8/1/2028                                                        | CUSIP: 64966SKE5<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |  11545000 | PA      | $12346806.02  | 0.68%             | 2028-08-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS IND LOC PUB IMPTBD BK                                                        | INDIANAPOLIS BK 5% 1/1/2026 @                                             | CUSIP: 45528VAX7<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |    665000 | PA      | $668547.71    | 0.04%             | 2026-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| ILLINOIS HSG DEV AUTH MULTIFAMILY HSG REV                                                 | ILLINOIS HDA MU 5% 2/1/2027 MT                                            | CUSIP: 45203LEL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    893000 | PA      | $898585.63    | 0.05%             | 2027-02-01      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| DENVER CO CITY and CNTY ARPT                                                              | DENVER CO ARPT 5.25% 11/15/2026                                           | CUSIP: 249182SU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3165000 | PA      | $3253044.60   | 0.18%             | 2026-11-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECON DEV SLD WST                                                             | PA EDFA SW 3.95% MT@                                                      | CUSIP: 708692CB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5700000 | PA      | $5698206.21   | 0.31%             | 2049-06-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS IND LOC PUB IMPTBD BK                                                        | INDIANAPOLIS BK 5% 1/1/2027 @                                             | CUSIP: 45528VAY5<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1368264.73   | 0.08%             | 2027-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GEORGIA MUN ELEC AUTH PWR REV                                                             | GA MEAG 5% 7/1/2026                                                       | CUSIP: 62620HET5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $234364.07    | 0.01%             | 2026-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PORT SEATTLE WA REV                                                                       | PORT SEATTLE 5% 7/1/2029 @                                                | CUSIP: 7353892A5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10415000 | PA      | $11203613.39  | 0.61%             | 2029-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| DETROIT MI DOWNTOWN DEV AUTH TAX                                                          | DETROIT DWNTWN 5% 7/1/2026                                                | CUSIP: 251135HB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $406658.92    | 0.02%             | 2026-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA GAS SUPPLY REV                                                    | MAIN STR NAT GA 5% 3/1/2026                                               | CUSIP: 56035DGF3<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    430000 | PA      | $433013.14    | 0.02%             | 2026-03-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST SPL TAX OBLIG                                                              | CT SPEC TAX 5% 5/1/2026                                                   | CUSIP: 207758B69<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    805000 | PA      | $816450.48    | 0.04%             | 2026-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ECONOMIC DEV AUTH SOLD WASTE DISP FACS REV                                  | WV EDA SLD WAST 3.3% MT @                                                 | CUSIP: 95648VBY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2985000 | PA      | $3006396.18   | 0.16%             | 2041-01-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HEALTH and EDL FACS AUTH REVENUE                                           | CONN ST HEALTH 3.2% 7/1/2037 MT                                           | CUSIP: 20775DVU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1850000 | PA      | $1854207.46   | 0.10%             | 2037-07-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| BRAZOS TEX HIGHER ED AUTH INCSTUDENT LN PROG REV                                          | BRAZOS TEX HIGH 5% 4/1/2027@                                              | CUSIP: 10623ACT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $510963.50    | 0.03%             | 2027-04-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HSG and EDA HSG REV                                                             | WISCONSIN HSG and ECONOMIC DEV AUTH HSG REV VAR-AMT-SER F                 | CUSIP: 976904SB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2720000 | PA      | $2720000.00   | 0.15%             | 2042-05-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| TEXAS MUN GAS ACQUISITION and SUPPLY CORP IV GAS SUPPLY REV                               | TEXAS GAS IV 5.25% 1/1/2026                                               | CUSIP: 88256PAB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    635000 | PA      | $638068.45    | 0.03%             | 2026-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PORT OAKLAND CALIF REV                                                                    | PORT OAKLAND CA 5% 5/1/2026 @                                             | CUSIP: 735000UW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5069.30      | 0.00%             | 2026-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| KANE CNTY ILL REV                                                                         | IL GLENWOOD SCH 93 L=NT V7                                                | CUSIP: 483870AB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $800000.00    | 0.04%             | 2028-02-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| WESTFIELD WASHINGTON IND MULTI                                                            | WSTFLD WA SCH 5% 7/15/2027                                                | CUSIP: 96023PNJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $520126.65    | 0.03%             | 2027-07-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| BERKELEY CNTY SC INDL DEV REV                                                             | SC NUCOR 95 V7@                                                           | CUSIP: 084185DB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $800000.00    | 0.04%             | 2028-09-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH REV                                                          | NEW JERSEY ECN 5% 3/1/2026                                                | CUSIP: 64577XEN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3445000 | PA      | $3477234.52   | 0.19%             | 2026-03-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CO FL IDA SLD WASTE DISP REV                                                   | MIAMI-DADE SLW 4.50% 11/1/2048 MT @                                       | CUSIP: 59333GAN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7500000 | PA      | $7499149.50   | 0.41%             | 2048-11-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ECONOMIC DEV AUTH SOLD WASTE DISP FACS REV                                  | WV EDA SLD WAST 3.7% MT                                                   | CUSIP: 95648VBX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3980000 | PA      | $4076715.59   | 0.22%             | 2042-12-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST                                                                           | PA ST 5% 7/15/2026                                                        | CUSIP: 70914PP97<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2039269.40   | 0.11%             | 2026-07-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | SAN FRAN CA MHSG FD HAYNES APTS 2025-CF7033 CI/CI D7- FOR CASH            | CUSIP: 88035PYA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8200000 | PA      | $8200000.00   | 0.45%             | 2053-07-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                                               | IL ST 5% 11/1/2026                                                        | CUSIP: 452152Q61<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    930000 | PA      | $952834.76    | 0.05%             | 2026-11-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS IND LOC PUB IMPT BD BK                                                       | INDIANAPOL 5% 1/1/2026@                                                   | CUSIP: 45528UD65<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3035000 | PA      | $3051191.42   | 0.17%             | 2026-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA GAS SUPPLY REV                                                    | MAIN STR NAT GA 5% 12/1/2026                                              | CUSIP: 56035DFN7<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    195000 | PA      | $199042.33    | 0.01%             | 2026-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MOBILE AL IDB POLLUTN CTL REV                                                             | MOBILE AL IDB 3.78% MT                                                    | CUSIP: 607167DW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $877270.36    | 0.05%             | 2034-06-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | BLACK BELT AL ENERGY 2022-XF3073-NUV Q=MO D7                              | CUSIP: 88035EPR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12515000 | PA      | $12515000.00  | 0.69%             | 2053-02-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| RIB FLOATER TRUST VARIOUS STS                                                             | VA NATL SENIOR CAMPUS BC22-028 BC/BC DR42                                 | CUSIP: 76252PVB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1100000.00   | 0.06%             | 2045-01-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| JACKSON ST UNIV EDL BLDG CORP MS REV                                                      | JACKSON ST UNIV .80% 3/1/2028                                             | CUSIP: 468714FF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4740000 | PA      | $4512288.98   | 0.25%             | 2028-03-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA GAS SUPPLY REV                                                    | MAIN STR NAT GA 5% 9/1/2026                                               | CUSIP: 56035DEU2<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    430000 | PA      | $437025.81    | 0.02%             | 2026-09-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MEADE CNTY KY INDL BLDG REV                                                               | KY NUCOR 20A1 V1@                                                         | CUSIP: 583022AB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  13115000 | PA      | $13115000.00  | 0.72%             | 2060-07-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| MIAMI DADE CNTY FL HSG FIN AUTH MULTIFAMILY HSG REV                                       | MIAMI-DADE MFH 3.55% MT                                                   | CUSIP: 593344BT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2965000 | PA      | $2967456.80   | 0.16%             | 2027-01-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY AL SWR REV                                                                 | JEFF AL W+S 5% 10/1/2026                                                  | CUSIP: 472682YV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    545000 | PA      | $557468.89    | 0.03%             | 2026-10-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA ARPT ATH REV                                                            | ALLEG PA ARPT 5% 1/1/2027 @                                               | CUSIP: 01728LGL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    540000 | PA      | $552651.82    | 0.03%             | 2027-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                                               | IL ST 5% 5/1/2026                                                         | CUSIP: 452153JH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $592883.64    | 0.03%             | 2026-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| LINCOLN CNTY WYO ENVIRONMENTAL IMPT REV                                                   | WY PACIFICORP-BRK LIN 95 V7@                                              | CUSIP: 533477AC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8800000 | PA      | $8800000.00   | 0.48%             | 2025-11-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| WESTFIELD WASHINGTON IND MULTI                                                            | WSTFLD WA SCH 5% 7/15/2028                                                | CUSIP: 96023PPN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1063111.60   | 0.06%             | 2028-07-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AIRPORT REV                                                               | PHIL PA AIRPORT 5% 7/1/2026 @                                             | CUSIP: 717817XG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    635000 | PA      | $644668.19    | 0.04%             | 2026-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA ARPT ATH REV                                                            | ALLEG PA ARPT 5% 1/1/2027 @                                               | CUSIP: 01728LER9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    655000 | PA      | $670914.54    | 0.04%             | 2027-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WASHINGTON CO NY                                                                          | WASHINGTON CNTY NY 3/20/26 BAN                                            | CUSIP: 938123HY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4100000 | PA      | $4121998.96   | 0.23%             | 2026-03-20      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| GEISINGER AUTH PA HLTH SYS REV                                                            | GEISINGER PA 5% 4/1/2043 MT                                               | CUSIP: 368497JX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3975000 | PA      | $4052778.43   | 0.22%             | 2043-04-01      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | BRIGHTLINE FL PASSENGER RAIL 2024-XG0577-NUV E-AGM(BC)/BC D1@             | CUSIP: 88035HZ74<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4800000 | PA      | $4800000.00   | 0.26%             | 2053-07-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECON DEV SLD WST                                                             | PA EDFA SW MT@                                                            | CUSIP: 708692BH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  13400000 | PA      | $13400000.00  | 0.73%             | 2044-06-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | OMAHA NE ARPT 2024-XG0593-MST E-AGC/Q=BA D7@                              | CUSIP: 88035JY22<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3600000 | PA      | $3600000.00   | 0.20%             | 2049-12-15      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| DENVER CO CITY and CNTY ARPT                                                              | DENVER CO ARPT 5% 11/15/2025 @                                            | CUSIP: 249182QA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1555000 | PA      | $1558935.71   | 0.09%             | 2025-11-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL OHARE INTL ARPT REV                                                            | CHICAGO OHARE 5% 1/1/2026@                                                | CUSIP: 167593Z21<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    760000 | PA      | $764112.13    | 0.04%             | 2026-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALAGAS PROJ REV                                                | BLACK BELT ENE 5.50% 6/1/2026                                             | CUSIP: 09182TCU9<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    570000 | PA      | $577839.10    | 0.03%             | 2026-06-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSN AUTH NY RV                                                            | NY MTA TRANSP 5% 11/15/2026                                               | CUSIP: 59261ANH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1270000 | PA      | $1301680.15   | 0.07%             | 2026-11-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| KENTUCKY INC KY PUB ENERGY AUTH GAS SUPPLY REV                                            | KENTUCKY INC KY 5% 12/1/2027                                              | CUSIP: 74440DFH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $239121.46    | 0.01%             | 2027-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MICH ARPT AUTH REV                                                             | WAYNE CO MI AAR 5% 12/1/2026@                                             | CUSIP: 944514TC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    565000 | PA      | $565483.41    | 0.03%             | 2026-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PORT OAKLAND CALIF REV                                                                    | PORT OAKLAND CA 5% 5/1/2026 @                                             | CUSIP: 735000VG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1740000 | PA      | $1759772.32   | 0.10%             | 2026-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL DEV REVS                                                    | PA THO JFFRSN U 17B RFLOAT7                                               | CUSIP: 71781XCR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4165000 | PA      | $4165000.00   | 0.23%             | 2050-09-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | GTR ORLANDO ARPT 2025-ZF1930-BLK Q=JP D7@                                 | CUSIP: 88035PMC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6455000 | PA      | $6455000.00   | 0.35%             | 2051-10-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | HOUSTON TX ARPT 2025-ZF1926-BLK E-AGM/Q=JP D7@                            | CUSIP: 88035PLL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4260000 | PA      | $4260000.00   | 0.23%             | 2053-07-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA GAS SUPPLY REV                                                    | MAIN STR NAT GA 5% 12/1/2025                                              | CUSIP: 56035DFM9<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    350000 | PA      | $350966.98    | 0.02%             | 2025-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| HILLSBOROUGH CNTY FL AVIATION                                                             | HILLSB FL AVIAT 5% 10/1/2025 @                                            | CUSIP: 432308M50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1180000 | PA      | $1180000.00   | 0.06%             | 2025-10-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FD LTD OBLIG REV                                                    | MI STRAT FND 3.35% MT@                                                    | CUSIP: 594698TK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5540000 | PA      | $5509952.70   | 0.30%             | 2049-10-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| HAYS TX CONS INDPT SCHL DIST                                                              | HAYS TX ISD 5% 2/15/2026                                                  | CUSIP: 4211106K8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $448980.04    | 0.02%             | 2026-02-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HSG FIN AGY SINGLE FAMILY MTG REV FOR ISSUES DATED PRIOR TO 12/20/2017 SEE 7 | PENNSYLVANIA H7 5% 10/1/2025                                              | CUSIP: 70879QQH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $700000.00    | 0.04%             | 2025-10-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | NY MTA TRAN-XF8023-NUV Q=JP D7                                            | CUSIP: 88035RHX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12900000 | PA      | $12900000.00  | 0.71%             | 2049-11-15      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | CHICAGO IL OHARE ARPT 2025-ZF1980-BLK Q=JP D7@ - for cash                 | CUSIP: 88035PU55<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4500000.00   | 0.25%             | 2059-01-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| OHIO ST HOSP REV                                                                          | OH UNIV HOSP HLTH SVCS 15B V7                                             | CUSIP: 67756CCG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5005000 | PA      | $5005000.00   | 0.27%             | 2045-01-15      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| NORTH EAST INDPT SCH DIST TX                                                              | NE TX ISD 3% 8/1/2027                                                     | CUSIP: 659155HJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1095000 | PA      | $1095000.00   | 0.06%             | 2027-08-01      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| KENTUCKY INC KY PUB ENERGY AUTH GAS SUPPLY REV                                            | KENTUCKY INC KY 5% 6/1/2026                                               | CUSIP: 74440DFE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $354180.79    | 0.02%             | 2026-06-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| CUERO TX INDEPENDENT SCHOOL DISTRICT                                                      | CUERO TX INDEPE 5% 8/15/2026                                              | CUSIP: 229831HX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1240000 | PA      | $1266208.64   | 0.07%             | 2026-08-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| REDMOND OR                                                                                | REDMOND OR 5% 6/1/2029@                                                   | CUSIP: 757657YZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1055000 | PA      | $1126692.21   | 0.06%             | 2029-06-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PORT AUTH NY and NJ                                                                       | PORT NY NJ 5% 10/15/2027 @                                                | CUSIP: 73358XBY7<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   1445000 | PA      | $1505571.65   | 0.08%             | 2027-10-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| EAST HAMPTON NY UN FREE SH DIS                                                            | EAST HAMP NY SD 2.10% 6/1/2027                                            | CUSIP: 272718GS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1285000 | PA      | $1256291.43   | 0.07%             | 2027-06-01      | Fixed         | 0.02%                 | No            |                  2 | On Loan: No      |
| KENTUCKY INC KY PUB ENERGY AUTH GAS SUPPLY REV                                            | KENTUCKY INC KY 5% 6/1/2028                                               | CUSIP: 74440DFJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    470000 | PA      | $492378.20    | 0.03%             | 2028-06-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH MULTIFAMILY HSG REV                                              | ARIZONA ST INDL 2.76% MT                                                  | CUSIP: 04062PDH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4510000 | PA      | $4476757.24   | 0.25%             | 2047-07-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | MIAMI-DADE CNTY FL AVIATION 2025-CF7044 E-AG/BH Q=CI D7@                  | CUSIP: 88035RGV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11300000 | PA      | $11300000.00  | 0.62%             | 2040-10-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL OHARE INTL ARPT REV                                                            | CHICAGO OHARE 5% 1/1/2028 @                                               | CUSIP: 1675935L2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6810000 | PA      | $7092589.80   | 0.39%             | 2028-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUT                                                            | NEW JERSEY ST TRANSN TR FD AUTH CAP APPREC-TRANSN SYS-SER                 | CUSIP: 646136XC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    665000 | PA      | $661063.47    | 0.04%             | 2025-12-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TEX FIN CORP MFHR                                                                 | HOUSTON TX MF 5% 8/1/2041                                                 | CUSIP: 442396EL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1080000 | PA      | $1099301.11   | 0.06%             | 2041-08-01      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECON DEV SLD WST                                                             | PA EDFA SW 8/1/45 MT@                                                     | CUSIP: 708692BG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7900000 | PA      | $7898993.54   | 0.43%             | 2045-08-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| OK DEV FIN AUTH HEALTH SYS REV                                                            | OK INTEGRIS HLTH 20B V7                                                   | CUSIP: 67884XCU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7425000 | PA      | $7425000.00   | 0.41%             | 2031-08-15      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| BURKE CNTY GA DEV AUTH PCR                                                                | BURKE GA PCR MT 11/1/2048                                                 | CUSIP: 121342QK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    730000 | PA      | $734492.27    | 0.04%             | 2048-11-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | MIAMI DADE FL ARPT 2025-ZF1934-BLK Q=JP D7@                               | CUSIP: 88035PPB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6660000 | PA      | $6660000.00   | 0.37%             | 2050-10-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MET AIRPORT COMMIS                                                            | MN MAC PORT REV 5% 1/1/2026 @                                             | CUSIP: 603827J31<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $578009.49    | 0.03%             | 2026-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST HSG FIN AGY                                                                   | NYS_HFA 3.375% MT                                                         | CUSIP: 64987JQ38<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8340000 | PA      | $8342151.72   | 0.46%             | 2063-11-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| BROWARD CTY FL HSG AUT HSG REV                                                            | BROWARD HSG 4.05% 9/1/2056 MT                                             | CUSIP: 115027RA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1191000 | PA      | $1195995.05   | 0.07%             | 2056-09-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE        | SAN FRAN ARPT 5% 5/1/2027 @                                               | CUSIP: 79766DSL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3810000 | PA      | $3940735.96   | 0.22%             | 2027-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| METRO NASHVLL ARPT TN                                                                     | MET NASH AIR TN 5% 7/1/2026 @                                             | CUSIP: 592190QF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    430000 | PA      | $436546.97    | 0.02%             | 2026-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| CITY HSG DEV CORPMULTIFAMILY HSG REV                                                      | CITY HSG DEV CO 0.9% MT                                                   | CUSIP: 64972EK32<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    795000 | PA      | $789753.80    | 0.04%             | 2060-11-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                                               | IL ST 5% 5/1/2027                                                         | CUSIP: 452153JJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    405000 | PA      | $419622.93    | 0.02%             | 2027-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN PIER and EXPOSITION AUTH ILL DEDICATED ST TAX REV                            | MET PIER and EXPO 0% 6/15/2026                                            | CUSIP: 592248AY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    720000 | PA      | $704850.12    | 0.04%             | 2026-06-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT ARPT REV                                                                | SLT LAKE U 5% 7/1/2026 @                                                  | CUSIP: 795576LH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    635000 | PA      | $644668.19    | 0.04%             | 2026-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | GTR ORLANDO FL ARPT 2025-XF1854-FE Q=JP D7@                               | CUSIP: 88035MWV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8150000 | PA      | $8150000.00   | 0.45%             | 2048-10-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| LEE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY/FL                                            | LEE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY/FL V7                         | CUSIP: 52350LAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11500000 | PA      | $11500000.00  | 0.63%             | 2049-04-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| IOWA FIN AUTH SLD DISP WST REV                                                            | IA MIDAMERICAN - BRK 08A V7@                                              | CUSIP: 46245EAW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1170000 | PA      | $1170000.00   | 0.06%             | 2038-07-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| EAST SYRACUSE-MINOA NY CENT SD                                                            | E SYRACUSE MINOA NY CSD 6/25/26 BAN                                       | CUSIP: 275443EX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5900000 | PA      | $5943376.80   | 0.33%             | 2026-06-25      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                                               | IL ST 5% 5/1/2028                                                         | CUSIP: 452153JK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    670000 | PA      | $708525.87    | 0.04%             | 2028-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH RE                                                                      | MICHIGAN FIN AU 5% 4/15/2026                                              | CUSIP: 59447T3F8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3010000 | PA      | $3045715.46   | 0.17%             | 2026-04-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY AL SWR REV                                                                 | JEFF AL W+S 5% 10/1/2027                                                  | CUSIP: 472682YW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $523270.20    | 0.03%             | 2027-10-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH DC ARPTS ATH                                                            | MTRO WA DC ARPT 5% 10/1/2026 @                                            | CUSIP: 592647LJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1275618.63   | 0.07%             | 2026-10-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MICH ARPT AUTH REV                                                             | WAYNE CO MI AAR 4% 12/1/2025 @                                            | CUSIP: 944514YK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1095000 | PA      | $1096732.62   | 0.06%             | 2025-12-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| GALVESTON TX WHARVES and TERMINAL REVENUE                                                 | GALVESTON TX ST 5.25% 8/1/2027 @                                          | CUSIP: 364568HX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    315000 | PA      | $325235.61    | 0.02%             | 2027-08-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| DETROIT MI                                                                                | DETROIT MI 5% 5/1/2027                                                    | CUSIP: 2510936H8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1365000 | PA      | $1404397.31   | 0.08%             | 2027-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| HILLSBOROUGH CO FL SLDWST RECV                                                            | HILLSBOROUGH CNTY SOLID WASTE 5% 9/1/2026                                 | CUSIP: 432342DM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1435000 | PA      | $1459527.02   | 0.08%             | 2026-09-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | CO ST COMMONSPIRIT HLTH 2022-XM1060-ALL Q=JPMC BK D7                      | CUSIP: 88035DT96<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3000000.00   | 0.16%             | 2052-11-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                                               | IL ST 5% 5/1/2026                                                         | CUSIP: 452153FQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2540000 | PA      | $2574229.80   | 0.14%             | 2026-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TX ELEC and GAS REV                                                           | SAN ANTONIO E and G SIFMA+87 MT                                           | CUSIP: 79625GFV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5390000 | PA      | $5389328.41   | 0.30%             | 2048-02-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| PHOENIX AZ CVC IMP CRP APR REV                                                            | PHX CVC APT REV 5% 7/1/2026 @                                             | CUSIP: 71883MQJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1155000 | PA      | $1173017.19   | 0.06%             | 2026-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECON DEV SLD WST                                                             | PA EDFA SW 4.6% 10/1/2046 MT @                                            | CUSIP: 708692BZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  15885000 | PA      | $15953243.55  | 0.87%             | 2046-10-01      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| NEW HAVEN CT                                                                              | NEW_HAVEN CT 5% 8/1/2027                                                  | CUSIP: 645021CR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $433130.73    | 0.02%             | 2027-08-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | DC MFH SKYLINE APTS 2025-CF7039 CI/CI D7 - for cash                       | CUSIP: 88035P7H5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8760000 | PA      | $8760000.00   | 0.48%             | 2053-04-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| PORT AUTH NY and NJ                                                                       | PORT NY NJ 5% 12/1/2025 @                                                 | CUSIP: 73358XJT0<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   2680000 | PA      | $2688187.13   | 0.15%             | 2025-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| ITHACA CITY NEW YORK                                                                      | ITHACA CITY NY 2/13/26 BAN                                                | CUSIP: 465650U72<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7800000 | PA      | $7822595.82   | 0.43%             | 2026-02-13      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST STUDENT LN                                                                | RI STUD LN 5% 12/01/25 @                                                  | CUSIP: 762315QT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    555000 | PA      | $556751.52    | 0.03%             | 2025-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PORT AUTH NY and NJ                                                                       | PORT NY NJ 5% 10/15/2027 @                                                | CUSIP: 73358XRA2<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   1995000 | PA      | $2078626.61   | 0.11%             | 2027-10-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| DALLAS FORT WORTH TX INTL ARPT                                                            | DFW ARPT 5% 11/1/2027 @                                                   | CUSIP: 23503CFN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5835000 | PA      | $6077576.70   | 0.33%             | 2027-11-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PROSPER TEX INDPT SCH DIST                                                                | PROSPER TX ISD 4% 2/15/2050 MT                                            | CUSIP: 7436002V9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1059747.78   | 0.06%             | 2050-02-15      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| OSCEOLA CNTY FLA TRANSN REV                                                               | OSCEOLA FL TRAN 0% 10/1/2026                                              | CUSIP: 688031EF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $265135.59    | 0.01%             | 2026-10-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CLARK NV POLLUTN CTL REV                                                                  | CLARK CO NV PCR 3.75% MT                                                  | CUSIP: 181008BE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    910000 | PA      | $912253.52    | 0.05%             | 2036-01-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| MEADE CNTY KY INDL BLDG REV                                                               | KY NUCOR 20B1 V1@                                                         | CUSIP: 583022AC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  22185000 | PA      | $22185000.00  | 1.22%             | 2060-07-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMN MULTIFAMILY HSG REV                                           | WA HFC MF 5% MT                                                           | CUSIP: 93978PPU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1407000 | PA      | $1424493.51   | 0.08%             | 2043-12-01      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA ARPT REV                                                                       | ATLANTA GA ARPT 5% 7/1/2028 @                                             | CUSIP: 04780M2J7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3700000 | PA      | $3922182.04   | 0.22%             | 2028-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MIZUHO FLOATER / RESIDUAL TR VAR STS                                                      | LOS ANGELES CA MF MTG REV 2025-MIZ9221 MZ/MZ D35                          | CUSIP: 60700HH77<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10550000 | PA      | $10550000.00  | 0.58%             | 2028-08-04      | Variable      | 0.03%                 | Yes           |                  2 | On Loan: No      |
| BINGHAMTON NY                                                                             | BINGHAMTON CITY NY 4/10/26 BAN                                            | CUSIP: 0904912K6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  16200000 | PA      | $16286930.82  | 0.89%             | 2026-04-10      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| BOX ELDER CNTY UTAH POLLUTION CTL REV                                                     | BOX ELDER CNTY UTAH POLLUTION CTL REV VAR-REF-NUCOR CORP PROJ             | CUSIP: 103160AE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1100000.00   | 0.06%             | 2028-04-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| MAIKER HSG PARTNERS COLO MULTIFAMILY HSG REV                                              | MAIKER HSG PART 4.5% MT                                                   | CUSIP: 56031AAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2017000 | PA      | $2031835.44   | 0.11%             | 2042-05-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| DUVAL CNTY FLA SCH BRD CTFS PT                                                            | DUVAL FL SD COP 5% 7/1/2026                                               | CUSIP: 267169GZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3115000 | PA      | $3171529.46   | 0.17%             | 2026-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| OHIO ST HIGHER EDL FAC COMMN                                                              | OH HI ED COM 1.625% MT                                                    | CUSIP: 67756DVP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    735000 | PA      | $719694.73    | 0.04%             | 2034-12-01      | Variable      | 0.02%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALAGAS PROJ REV                                                | BLACK BELT ENE 5% 5/1/2028                                                | CUSIP: 09182TFU6<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    580000 | PA      | $604748.54    | 0.03%             | 2028-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO MTG FIN AUTH MF HSG REV                                                        | NM MTG MHSG REV 3/1/26 MT                                                 | CUSIP: 64719HEQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3698000 | PA      | $3693798.33   | 0.20%             | 2042-02-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CALIF PUB PWR AUTH SOUTHN TRANSMISSION SYS RENEWALPROJ REV                       | SOUTHERN CFA 5% MT                                                        | CUSIP: 842469DL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2520000 | PA      | $2673606.35   | 0.15%             | 2053-07-01      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH REV                                                          | NEW JERSEY ECN 5% 11/1/2025                                               | CUSIP: 64577XDK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    635000 | PA      | $636131.44    | 0.03%             | 2025-11-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MISSION TX ECONIMC DEV CORP SOLID WASTE DISP REV                                          | MISSION TX EDC 7/1/2040 MT@                                               | CUSIP: 605155BS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10350000 | PA      | $10346742.86  | 0.57%             | 2040-07-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| MONTANA ST BRD HSG MULTIFAMILYHSG REV                                                     | MONTANA ST BRD HSG 3.32% MT                                               | CUSIP: 61212VAU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4940000 | PA      | $4974171.96   | 0.27%             | 2046-07-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                                                                  | MINNESOTA ST HS 5% 8/1/2026                                               | CUSIP: 60416TTZ1<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   1080000 | PA      | $1100200.10   | 0.06%             | 2026-08-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| LOUISIANA HOUSING CORP                                                                    | LOOP COMMONS 3.75% MT                                                     | CUSIP: 54627CBU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2022939.80   | 0.11%             | 2028-02-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE ST HSG FIN AUTH MULTI-FAMILY HSG                                            | NEW HAMPSHIRE 3.85% 1/1/2027                                              | CUSIP: 64469MQM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1080000 | PA      | $1087535.27   | 0.06%             | 2027-01-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| WALKER CNTY AL ECONOMIC and INDL DEV AUTH SOLID WASTE DISP REV                            | AL PWR - SOUTHERN CO 23-1 V1@                                             | CUSIP: 931542AB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9300000 | PA      | $9300000.00   | 0.51%             | 2063-08-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HEALTH and EDL FACS AUTH REVENUE                                           | CONN ST HEALTH 5% 7/1/2028                                                | CUSIP: 20775DYE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3800000 | PA      | $4064689.76   | 0.22%             | 2028-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MIZUHO FLOATER / RESIDUAL TR VAR STS                                                      | CA STATEWIDE MFH 2023-MIZ9121 G=FHLM/MZ D1@                               | CUSIP: 60700HPW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9590000 | PA      | $9590000.00   | 0.53%             | 2033-11-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| IOWA STUDENT LN LIQUIDITY CORP                                                            | IOWASTUD LIQUID 5% 12/1/2026 @                                            | CUSIP: 462590NR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    380000 | PA      | $387230.83    | 0.02%             | 2026-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECON DEV SLD WST                                                             | PA EDFA SW 1.75% 8/1/2038 MT @                                            | CUSIP: 708692BP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7900000 | PA      | $7900128.77   | 0.43%             | 2038-08-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NV SCHOOL DIST                                                                 | CLARK CO NV SD 5% 6/15/2027                                               | CUSIP: 181059TD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1145000 | PA      | $1150273.64   | 0.06%             | 2027-06-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | LYNCHBURG VA EDA CENTRA HLTH 2018-XL0075-NUV Q=JPMC BK D7                 | CUSIP: 88034MXT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250000.00    | 0.01%             | 2055-01-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | BRIGHTLINE FL PASSENGER RAIL 2024-XF1704-NUV E-AGM(RC)/RC D7@             | CUSIP: 88035HZ25<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  19065000 | PA      | $19065000.00  | 1.05%             | 2053-07-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| OHIO ST AIR QUALITY DEV AUTH                                                              | OH AIR QUAL 3.20% 5/1/2026                                                | CUSIP: 677525WY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3720000 | PA      | $3711128.92   | 0.20%             | 2026-05-01      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT ARPTS REV                                                             | LA CA AIRPT 5% 5/15/2027 @                                                | CUSIP: 5444452G3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4180000 | PA      | $4337246.17   | 0.24%             | 2027-05-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| COLORADO EDL and CULTURAL FAC AUTH REV                                                    | CO MESIVTA GRTR LA 04 L=DB V7                                             | CUSIP: 196458YZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    630000 | PA      | $630000.00    | 0.03%             | 2029-06-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| MISSION TX ECONIMC DEV CORP SOLID WASTE DISP REV                                          | MISSION TX EDC 5/1/50 MT@                                                 | CUSIP: 605155BQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6900000 | PA      | $6899120.94   | 0.38%             | 2050-05-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | LA HSG CORP REV 2025-XF3347-AMR MZ/MZ D7                                  | CUSIP: 88035MS55<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $800000.00    | 0.04%             | 2042-07-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                                               | IL ST 5% 11/1/2027                                                        | CUSIP: 452152P96<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    945000 | PA      | $988318.14    | 0.05%             | 2027-11-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| DISTRICT COLUMBIA WTR and SWR AU                                                          | DC W and S 3% MT                                                          | CUSIP: 254845TJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    855000 | PA      | $849933.95    | 0.05%             | 2057-10-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST SVC AUTH REV                                                            | SC PUB SVC 5% 12/1/2026                                                   | CUSIP: 8371515X3<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   2370000 | PA      | $2434052.57   | 0.13%             | 2026-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| METRO NASHVLL ARPT TN                                                                     | MET NASH AIR TN 5% 7/1/2027 @                                             | CUSIP: 592190QG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $673075.72    | 0.04%             | 2027-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| LOUISIANA HOUSING CORP                                                                    | RIDGE COMMONS COLLAT SOFT PUTS 3.75% MT                                   | CUSIP: 54627CBV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1130000 | PA      | $1142960.99   | 0.06%             | 2028-02-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| DALLAS TEX HSG FIN CORP MULTI FAMILY HSG REV                                              | DALLAS MHSG 5% 7/1/2026 MT                                                | CUSIP: 235298BS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1493000 | PA      | $1497581.72   | 0.08%             | 2026-07-01      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| HIGHER ED STUDENT ASSISTANCE AUTH NJ STUDENT LN REV                                       | NJ STUD LOAN 5% 12/1/2025 @                                               | CUSIP: 646080SN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1815000 | PA      | $1820298.35   | 0.10%             | 2025-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| RIB FLOATER TRUST VARIOUS STS                                                             | SC CONWAY HOSP BC22-019 BC/BC DR42                                        | CUSIP: 76252PTY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2400000.00   | 0.13%             | 2047-07-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| HUMBLE TX INDPT SCH DIST                                                                  | HUMBLE TX ISD 5% 2/15/2026                                                | CUSIP: 445047NF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3825000 | PA      | $3860069.51   | 0.21%             | 2026-02-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| ALASKA ST                                                                                 | AK ST 5% 8/1/2028                                                         | CUSIP: 0117706D1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    420000 | PA      | $449962.76    | 0.02%             | 2028-08-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX HOTEL OCC TX and SPL RV                                                        | HOUSTON TX HOTS 5% 9/1/2026                                               | CUSIP: 44237NGP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    955000 | PA      | $956657.50    | 0.05%             | 2026-09-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HEALTH and EDL FACS AUTH REVENUE                                           | CONN ST HEALTH 5% 7/1/2027                                                | CUSIP: 20775DYD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2900000 | PA      | $3020631.88   | 0.17%             | 2027-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AIRPORT REV                                                               | PHIL PA AIRPORT 5% 7/1/2029@                                              | CUSIP: 717817YJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2825000 | PA      | $3030579.77   | 0.17%             | 2029-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| HAMILTON CNTY OH SWR SYS REV                                                              | HAMILTON OH SWR 5% 12/1/2027                                              | CUSIP: 407288H44<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    505000 | PA      | $533108.30    | 0.03%             | 2027-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| SANTA FE CNTY N MEX MULTIFAMILY REV                                                       | SANTA NM 3.29% 12/10/2049 MT                                              | CUSIP: 80189NAD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5660000 | PA      | $5692278.98   | 0.31%             | 2049-12-10      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| KENTUCKY INC KY PUB ENERGY AUTH GAS SUPPLY REV                                            | KENTUCKY INC KY 5% 6/1/2027                                               | CUSIP: 74440DFG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $618125.70    | 0.03%             | 2027-06-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| FLORIDA HSG FIN CORP MLTFMY RV                                                            | FL HFC MF 3.8% 6/1/2042 MT                                                | CUSIP: 34073JVE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1530000 | PA      | $1536466.85   | 0.08%             | 2042-06-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| LOWER ALA GAS DIST GAS PROJ REV                                                           | LOWER ALA GAS D 4% MT                                                     | CUSIP: 547804AM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7200000 | PA      | $7214744.16   | 0.40%             | 2050-12-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA GAS SUPPLY REV                                                    | MAIN STR NAT GA 5% 12/1/2052 MT                                           | CUSIP: 56035DEE8<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1785000 | PA      | $1891204.82   | 0.10%             | 2052-12-01      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS IND LOC PUB IMPT BD BK                                                       | INDIANAPOL 5% 1/1/2026 @                                                  | CUSIP: 45528U4T5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    255000 | PA      | $256360.40    | 0.01%             | 2026-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NEW ORLEANS LA AVIATION BOARD                                                             | N ORLEANS AVIAT 5% 1/1/2028@                                              | CUSIP: 64763HLZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4410000 | PA      | $4603760.85   | 0.25%             | 2028-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALAGAS PROJ REV                                                | BLACK BELT ENE 5.50% 6/1/2027                                             | CUSIP: 09182TCV7<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    245000 | PA      | $253525.66    | 0.01%             | 2027-06-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PTY and BLDGS COMMN                                                           | KY ST PROP 5% 4/1/2028                                                    | CUSIP: 49151F4P2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2125084.00   | 0.12%             | 2028-04-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NJ ST HSG and MTG FIN AGY MFR                                                             | NJ ST HMFA MF1 2.85% 11/1/2026                                            | CUSIP: 6461087L8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4060000 | PA      | $4056530.73   | 0.22%             | 2026-11-01      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| BLYTHEVILLE AR INDL DEV REV                                                               | AR NUCOR 98 V7@                                                           | CUSIP: 096490BV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3100000 | PA      | $3100000.00   | 0.17%             | 2028-06-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| MILWAUKEE CNTY WI ARPT REV                                                                | MILWAUKEE WI AR 5% 12/1/2026 @                                            | CUSIP: 602248LR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    510000 | PA      | $521473.32    | 0.03%             | 2026-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT ARPT REV                                                                | SLT LAKE U 5% 7/1/2027 @                                                  | CUSIP: 795576LJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    595000 | PA      | $616639.61    | 0.03%             | 2027-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| FLORIDA INS ASSISTANCE INTERLOCAL AGY FLA INS ASSMT REV                                   | FL INSURANCE 2023 A2 Q=FL V7                                              | CUSIP: 34074EAF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  24940000 | PA      | $24940000.00  | 1.37%             | 2032-09-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| DENVER CO CITY and CNTY ARPT                                                              | DENVER CO ARPT 5% 11/15/2025                                              | CUSIP: 249182ST4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2540000 | PA      | $2546428.74   | 0.14%             | 2025-11-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL WTR REV                                                                        | CHICAGO WTR 5% 11/1/2025                                                  | CUSIP: 167736V61<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    635000 | PA      | $635926.40    | 0.03%             | 2025-11-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| ATRIUM HEALTH                                                                             | ATRIUM HEALTH 3.45% MT                                                    | CUSIP: 160853TL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3425000 | PA      | $3426201.49   | 0.19%             | 2048-01-15      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| ST JAMES PARISH LA REV                                                                    | LA NUCOR 10A1 V7                                                          | CUSIP: 790103AG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  40035000 | PA      | $40035000.00  | 2.19%             | 2040-11-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH N H SOLID WASTE DISP REV                                                | NATIONAL FN AT 4.25% MT@                                                  | CUSIP: 63608RAE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11960000 | PA      | $12055577.14  | 0.66%             | 2027-07-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA ARPT REV                                                                       | ATLANTA GA ARPT 25B1 7/1/26@                                              | CUSIP: 04780M2G3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1680000 | PA      | $1706332.49   | 0.09%             | 2026-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| FARMINGTON N Y                                                                            | FARMINGTON TWN NY 7/29/26 BAN                                             | CUSIP: 311459ED9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6600000 | PA      | $6618821.88   | 0.36%             | 2026-07-29      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| BARTOW CNTY GA DEV AUTH SOLIDWASTE DISP FAC REV                                           | GA PWR - SOUTHERN CO 22-2 V1@                                             | CUSIP: 06964KAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  46500000 | PA      | $46500000.00  | 2.55%             | 2062-11-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| HUMBLE TX INDPT SCH DIST                                                                  | HUMBLE TX ISD 0% 2/15/2028                                                | CUSIP: 445047NH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5700000 | PA      | $6041992.02   | 0.33%             | 2028-02-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA                                                                           | PHILA PA 5% 8/1/2028                                                      | CUSIP: 717813C31<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1070771.60   | 0.06%             | 2028-08-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALAGAS PROJ REV                                                | BLACK BELT ENE 5.25% 6/1/2026                                             | CUSIP: 09182TBZ9<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    780000 | PA      | $789557.50    | 0.04%             | 2026-06-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PASCO CNTY FL SCH BRD COP                                                                 | PASCO FL SB COP 5% 8/1/2026                                               | CUSIP: 702528MY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    665000 | PA      | $677724.78    | 0.04%             | 2026-08-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| ILLINOIS HSG DEV AUTH MULTIFAMILY HSG REV                                                 | ILLINOIS HDA MU 0% 2/1/2027                                               | CUSIP: 45203LEM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    966000 | PA      | $972171.68    | 0.05%             | 2027-02-01      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| PORT SEATTLE WA REV                                                                       | PORT SEATTLE 5% 10/1/2027 @                                               | CUSIP: 735389XF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    635000 | PA      | $641102.60    | 0.04%             | 2027-10-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALAGAS PROJ REV                                                | BLACK BELT ENE(MO) 5.25% 6/1/29MT 53                                      | CUSIP: 09182TCG0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |  12165000 | PA      | $12992904.89  | 0.71%             | 2053-02-01      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FL HEALTH FACS AUTH REV                                                       | ORANGE CNTY FL 0% 11/15/2052                                              | CUSIP: 68450LGT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1815000 | PA      | $1858059.42   | 0.10%             | 2052-11-15      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| PORT PORT ARTHUR TX NAV DIST E                                                            | PRT ARTHR TX MTVA10E Q=SELF V7                                            | CUSIP: 735220AW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2600000 | PA      | $2600000.00   | 0.14%             | 2040-11-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT ARPTS REV                                                             | LA CA AIRPT 5% 5/15/2026 @                                                | CUSIP: 5444452F5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7220000 | PA      | $7323538.41   | 0.40%             | 2026-05-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUT                                                            | NJ ST TRANSN TR FD AUTH CAP APPREC-TRANSN SYS-SER A                       | CUSIP: 646136WE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1555000 | PA      | $1545795.02   | 0.08%             | 2025-12-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| GEORGIA MUN ELEC AUTH PWR REV                                                             | GA MEAG 5% 1/1/2028                                                       | CUSIP: 62620HJF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1053755.50   | 0.06%             | 2028-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT ARPTS REV                                                             | LA CA AIRPT 5% 5/15/2026 @                                                | CUSIP: 544445XP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2285000 | PA      | $2317768.04   | 0.13%             | 2026-05-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST                                                                           | PA ST 5% 9/1/2026                                                         | CUSIP: 70914P2V3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7990000 | PA      | $8174115.17   | 0.45%             | 2026-09-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE HEALTH and ED FACSAUTH REV MEMORIAL HOSP                                    | NEW HAMPSHIRE H 5.50% 11/1/2026 @                                         | CUSIP: 64461XHV0<br>LEI: 549300CNCK7OT82W5653 | Long             | DBT              | MUN               | US        |    190000 | PA      | $194472.39    | 0.01%             | 2026-11-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| ROCKPORT IND POLLUTION CTL REV                                                            | ROCKPORT IN PCR 3.7% 6/1/2047 MT                                          | CUSIP: 773835BY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4955000 | PA      | $5085503.80   | 0.28%             | 2047-06-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| ORANGE TWP NJ                                                                             | ORANGE TWP CITY ESSEX CNTY NJ 3/18/26 BAN                                 | CUSIP: 685312NP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8388185 | PA      | $8427143.09   | 0.46%             | 2026-03-18      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| JACKSONVILLE FLA SPL REV                                                                  | JACKSONVILLE F 5% 10/1/2025                                               | CUSIP: 469487TA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $290000.00    | 0.02%             | 2025-10-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WEST VA ST HSG DEV FD MULTIFAMILY HSG REV                                                 | WEST VA ST HSG 5% MT                                                      | CUSIP: 956629AH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3170000 | PA      | $3268044.93   | 0.18%             | 2027-08-01      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| WEST HAVEN CT                                                                             | W HAVEN CITY CT 3/26/26 BAN                                               | CUSIP: 9531402P4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1809655.74   | 0.10%             | 2026-03-26      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND CNTY NC                                                                        | CUMBERLAND CNTY NC PROJECT AERO PRE MT@                                   | CUSIP: 230589AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3400000 | PA      | $3400494.02   | 0.19%             | 2027-12-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PTY and BLDGS COMMN                                                           | KY ST PROP 5% 4/1/2027                                                    | CUSIP: 49151F4N7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    420000 | PA      | $436086.55    | 0.02%             | 2027-04-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| VERMONT ST STUD ASSIT CORP                                                                | VT STUD LN 5% 6/15/2026 @                                                 | CUSIP: 92428CKH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1080000 | PA      | $1091994.48   | 0.06%             | 2026-06-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ECONOMIC DEV FIN AUTH SOLID WASTE DISP REV                                       | KENTUCKY ECONOMIC DEV FIN REPUBLIC SVCS-A ***AMT***@                      | CUSIP: 49126RAC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2750000.00   | 0.15%             | 2031-04-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| OHIO ST HIGHER EDL FAC COMMN                                                              | OH HI ED COM 5% 5/1/2026                                                  | CUSIP: 67756DVT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $708157.73    | 0.04%             | 2026-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | MIAMI-DADE FL AVIATION 2025-XF1827-FE Q=JP D7@                            | CUSIP: 88035MNR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10500000 | PA      | $10500000.00  | 0.58%             | 2055-10-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HEALTH and EDL FACS AUTH REVENUE                                           | CONN ST HEALTH 2.95% MT                                                   | CUSIP: 20775DXK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    975000 | PA      | $976745.35    | 0.05%             | 2049-07-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH SOLID WASTE DISP REV                                              | CA ST MFA SW 3.375% 9/1/2050 @                                            | CUSIP: 13048RAS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2080000 | PA      | $2067129.79   | 0.11%             | 2050-09-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| FLA HSG FIN CORP MULTIFAMILY MTG REV                                                      | FL MHSG 5% MT                                                             | CUSIP: 34074HGY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    705000 | PA      | $707127.69    | 0.04%             | 2026-12-01      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL MIDWAY ARPT REV                                                                | CHICAGO MIDWAY 5% 1/1/2027 @                                              | CUSIP: 167562RR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    635000 | PA      | $650822.55    | 0.04%             | 2027-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| VERMONT ST STUD ASSIT CORP                                                                | VT STUD LN 5% 6/15/2026@                                                  | CUSIP: 92428CLV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    775000 | PA      | $783607.15    | 0.04%             | 2026-06-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| AUSTIN TEX AIRPORT SYS                                                                    | AUSTIN TX ARPT 5% 11/15/2025@                                             | CUSIP: 052398HA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1215000 | PA      | $1217999.59   | 0.07%             | 2025-11-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MILWAUKEE WI                                                                              | MILWAUKEE 5% 4/1/2026                                                     | CUSIP: 602366C61<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1105000 | PA      | $1116366.36   | 0.06%             | 2026-04-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST HSG FIN AGY                                                                   | NYS HFA 3.8% MT                                                           | CUSIP: 64987JP54<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1170000 | PA      | $1170548.73   | 0.06%             | 2063-11-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | CA MFH TERESINA APTS BAML25-6045 BA/BA D1@                                | CUSIP: 88035MAS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  18250000 | PA      | $18250000.00  | 1.00%             | 2036-05-15      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| ALASKA ST                                                                                 | AK ST 5% 8/1/2026                                                         | CUSIP: 0117706B5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    950000 | PA      | $969930.72    | 0.05%             | 2026-08-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST CMNTY DEV ADMIN DEPT HSG and CMNTY DEV                                        | MARYLAND ST CMN 3.50% 1/1/2026                                            | CUSIP: 57419T3S8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4810000 | PA      | $4817371.33   | 0.26%             | 2026-01-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MIZUHO FLOATER / RESIDUAL TR VAR STS                                                      | SAN FRAN C and C MFH 1601 MARIPOSA APTS 2022-MIZ9095 MZ/MZ D35            | CUSIP: 60700HLU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10391875 | PA      | $10391875.00  | 0.57%             | 2057-07-01      | Variable      | 0.03%                 | Yes           |                  2 | On Loan: No      |
| SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV                                                  | SAN DIEGO ARPT 5% 7/1/2028 @                                              | CUSIP: 79739GSK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1747280.87   | 0.10%             | 2028-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MISSION TX ECONIMC DEV CORP SOLID WASTE DISP REV                                          | MISSION TX EDC 2.05/VAR MT@                                               | CUSIP: 605155BM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2999617.80   | 0.16%             | 2026-01-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA ST INDS AUTH EDL FACSLEASE REV                                                   | OKLAHOMA ST IND 5% 4/1/2028                                               | CUSIP: 67910FAD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5125000 | PA      | $5430154.29   | 0.30%             | 2028-04-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOM DEV AUTH REV                                                            | NJ EDA REV 5.25% 9/1/26                                                   | CUSIP: 64577B6K5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1840000 | PA      | $1883669.09   | 0.10%             | 2026-09-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PORT AUTH NY and NJ                                                                       | PORT NY NJ 5% 10/15/2026 @                                                | CUSIP: 73358XQZ8<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   2600000 | PA      | $2654863.90   | 0.15%             | 2026-10-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HEALTH FACS FNG AUTH REV                                                       | CALIFORNIA HLTH 0% 10/1/2039 MT                                           | CUSIP: 13032UB80<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1700000.00   | 0.09%             | 2039-10-01      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| MIZUHO FLOATER / RESIDUAL TR VAR STS                                                      | CA STATEWIDE MFH 2023-MIZ9122 G=FHLM/MZ D1@                               | CUSIP: 60700HPY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  14670244 | PA      | $14670244.00  | 0.80%             | 2027-12-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HEALTH CARE FACS AUTH REV                                                   | WA ST HLTH CAR 5% 8/15/2028                                               | CUSIP: 93978HB61<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4600000 | PA      | $4873013.22   | 0.27%             | 2028-08-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HEALTH CARE FACS AUTH REV                                                   | WA ST HLTH CAR 5% 8/15/2027                                               | CUSIP: 93978HB53<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4673360.70   | 0.26%             | 2027-08-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HSG and EDA HSG REV                                                             | WI HSG EDA 3.875% MT                                                      | CUSIP: 9769044P4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1165000 | PA      | $1165893.56   | 0.06%             | 2054-11-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECON DEV SLD WST                                                             | PA EDFA SW 2.15% MT@                                                      | CUSIP: 708692BF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4700000 | PA      | $4735549.86   | 0.26%             | 2041-07-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA                                                                           | PHILA PA 5% 8/1/2027                                                      | CUSIP: 717813C23<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3555000 | PA      | $3714874.39   | 0.20%             | 2027-08-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MISSION TX ECONIMC DEV CORP SOLID WASTE DISP REV                                          | MISSION TX EDC 4.25% 6/1/2048 MT @                                        | CUSIP: 605155BU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2800000 | PA      | $2816254.56   | 0.15%             | 2048-06-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECON DEV SLD WST                                                             | PA EDFA SW SIFMA+40 MT @                                                  | CUSIP: 708692BT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7450000 | PA      | $7451700.09   | 0.41%             | 2041-06-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| NJ HLTH CARE FACS FING AUTH DEPT HUMAN SVCS LEASE                                         | NJ HLTH CARE FA 5% 9/15/2026                                              | CUSIP: 64579XEM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2435000 | PA      | $2489715.18   | 0.14%             | 2026-09-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| BROWARD CNTY FL PORT EVERGLADES                                                           | BROWARD FL PORT 5% 9/1/2027 @                                             | CUSIP: 11506KGJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1265000 | PA      | $1311135.44   | 0.07%             | 2027-09-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MIZUHO FLOATER / RESIDUAL TR VAR STS                                                      | LOS ANGELES MFH HOLLYWOOD and VINE APTS 2022-MIZ9089 FRE/MZ D1@           | CUSIP: 60700HKS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  30375000 | PA      | $30375000.00  | 1.67%             | 2042-04-15      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| RIB FLOATER TRUST VARIOUS STS                                                             | NY HSG 42ND and 10TH BC22-003 BC/BC DR42                                  | CUSIP: 76252PRU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3500000.00   | 0.19%             | 2041-11-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| KING CNTY WA SWR REV                                                                      | KING CNTY SWR 1/1/2042 MT                                                 | CUSIP: 495290BD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3430000 | PA      | $3403085.13   | 0.19%             | 2042-01-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | HHA FOUNTAINVIEW PFC TX MF HSG 2024-XG0585-NPI BC/BC D1                   | CUSIP: 88035JGX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3300000 | PA      | $3300000.00   | 0.18%             | 2064-07-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| STANTON CNTY NE INDL DEV REV                                                              | NE NUCOR 96 V7                                                            | CUSIP: 854743AD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3600000 | PA      | $3600000.00   | 0.20%             | 2026-11-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| NY PAYROLL MOBILITY TX                                                                    | TRIBOROUGH BRID 2% MT                                                     | CUSIP: 89602HAD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    635000 | PA      | $630615.83    | 0.03%             | 2045-05-15      | Variable      | 0.02%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA PCF SOLID WST DISP                                                             | CAL PCR SWDR 4% MT @                                                      | CUSIP: 130536RC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5600000 | PA      | $5599695.36   | 0.31%             | 2042-11-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY AZ POLLUTION CTL                                                            | MARICOPA AZ PUB SVC 09E V7                                                | CUSIP: 566854ET8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3100000 | PA      | $3100000.00   | 0.17%             | 2029-05-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| RIB FLOATER TRUST VARIOUS STS                                                             | NYS HFA 42ND and 10TH BC22-007 L=BC/BC DR42@                              | CUSIP: 76252PSF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  27890000 | PA      | $27890000.00  | 1.53%             | 2041-11-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| PORT SEATTLE WA REV                                                                       | PORT SEATTLE 5% 8/1/2026                                                  | CUSIP: 735389T81<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    995000 | PA      | $1012053.80   | 0.06%             | 2026-08-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | CHICAGO IL OHARE ARPT 2022-XM1078-MST AGM/JPMC BK D7@                     | CUSIP: 88035ENZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  24700000 | PA      | $24700000.00  | 1.35%             | 2053-01-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| ALASKA ST                                                                                 | AK ST 5% 8/1/2027                                                         | CUSIP: 0117706C3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $340160.15    | 0.02%             | 2027-08-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| INDIANA ST DEV FIN AUTH ENVR R                                                            | INDIANA ST DEV FIN AUTH ENVIRONMENTAL REV VAR-PSI ENERGY INC PROJS-SER B  | CUSIP: 454912AT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  14700000 | PA      | $14700000.00  | 0.81%             | 2038-12-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| IOWA FIN AUTH SLD DISP WST REV                                                            | IA MIDAMERICAN - BRK 16B V7@                                              | CUSIP: 46245EAY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4600000 | PA      | $4600000.00   | 0.25%             | 2046-12-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| PORT SEATTLE WA REV                                                                       | PORT SEATTLE 5% 8/1/2029 @                                                | CUSIP: 735389P51<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8635000 | PA      | $9302403.47   | 0.51%             | 2029-08-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | MIAMI DADE FL ARPT 2025-ZF1933-BLK Q=JP D7@                               | CUSIP: 88035PNZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5655000 | PA      | $5655000.00   | 0.31%             | 2050-10-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| TEXARKANA TEX INDPT SCH DIST                                                              | TEXAR TX 4% 2/15/2053 MT                                                  | CUSIP: 881847VM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4520000 | PA      | $4561961.87   | 0.25%             | 2053-02-15      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA GAS SUPPLY REV                                                    | MAIN STR NAT GA 5% 12/1/2026                                              | CUSIP: 56035DHM7<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    875000 | PA      | $893138.66    | 0.05%             | 2026-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| KENTUCKY INC KY PUB ENERGY AUTH GAS SUPPLY REV                                            | KENTUCKY INC KY 5% 12/1/2026                                              | CUSIP: 74440DFF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    555000 | PA      | $567082.35    | 0.03%             | 2026-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NEVADA HSG DIV                                                                            | NV MHSG 5% MT                                                             | CUSIP: 641272HR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1975000 | PA      | $2046767.16   | 0.11%             | 2028-07-01      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH and EDL FACSAUTH REV                                                  | WISCONSIN ST H 5% 8/1/2027                                                | CUSIP: 97712JHF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3040000 | PA      | $3080901.38   | 0.17%             | 2027-08-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE ST HSG FIN AUTH MULTI-FAMILY HSG                                            | NEW HAMPSHIRE 3.80% 7/1/2026                                              | CUSIP: 64469MQL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    680000 | PA      | $680581.81    | 0.04%             | 2026-07-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH CO                                                              | COLORADO HEALTH 5% 11/1/2025                                              | CUSIP: 19648FVZ4<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    255000 | PA      | $255386.91    | 0.01%             | 2025-11-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MIZUHO FLOATER / RESIDUAL TR VAR STS                                                      | CA MHG FIDDIMENT AFFORDABLE 2024-MIZ9162 MZ/MZ D35                        | CUSIP: 60700HVA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    645000 | PA      | $645000.00    | 0.04%             | 2062-12-01      | Variable      | 0.03%                 | Yes           |                  2 | On Loan: No      |
| NEW HAMPSHIRE ST HSG FIN AUTH MULTI-FAMILY HSG                                            | NEW HAMPSHIRE 3.625% 4/1/2026                                             | CUSIP: 64469MRK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $365566.33    | 0.02%             | 2026-04-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA GAS SUPPLY REV                                                    | MAIN STR NAT GA 5% 9/1/2027                                               | CUSIP: 56035DGJ5<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    625000 | PA      | $647288.19    | 0.04%             | 2027-09-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| HIGHER ED STUDENT ASSISTANCE AUTH NJ STUDENT LN REV                                       | NJ STUD LOAN 5% 12/1/2025 @                                               | CUSIP: 646080WA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $350832.48    | 0.02%             | 2025-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| BELLEVILLE NJ TAN                                                                         | BELLEVILLE TWP ESSEX CNTY NJ 7/7/26 BAN                                   | CUSIP: 079098GJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  15512500 | PA      | $15614172.03  | 0.86%             | 2026-07-07      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MIAMI DADE CNTY FL HSG FIN AUTH MULTIFAMILY HSG REV                                       | MIAMI-DADE MFH 5% 10/1/2026 MT                                            | CUSIP: 593344BP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4055000 | PA      | $4055000.00   | 0.22%             | 2026-10-01      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| TEXAS ST AFFORDABLE HSG CORP MULTIFAMILY HSG REV                                          | TX AHC MF 3.625% MT                                                       | CUSIP: 88271FFR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1365000 | PA      | $1377471.46   | 0.08%             | 2045-01-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| ARGYLE TX INDPT SCH DIST                                                                  | ARGYLE TX ISD 4% MT                                                       | CUSIP: 040319X34<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4380000 | PA      | $4554554.39   | 0.25%             | 2057-08-15      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSN AUTH NY RV                                                            | NY MTA TRANSP 5% 11/15/2025                                               | CUSIP: 59261APR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    665000 | PA      | $666599.06    | 0.04%             | 2025-11-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| Fidelity Revere Street Trust                                                              | Fidelity Municipal Cash Central Fund                                      | CUSIP: 31635A204<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |   7994324 | NS      | $7995923.02   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| OKLAHOMA CO OK IDS 89 OKLA CTY                                                            | OKLAHOMA CTY OK 3% 7/1/2026                                               | CUSIP: 678841LL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7140000 | PA      | $7143665.68   | 0.39%             | 2026-07-01      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA                                                                           | PHILA PA 5% 8/1/2026                                                      | CUSIP: 717813B99<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    590000 | PA      | $601633.74    | 0.03%             | 2026-08-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | NH NATL FIN AUTH UNIV HOSP HOME CARE 2024-MS0023 MO DT                    | CUSIP: 88035HM37<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2400000.00   | 0.13%             | 2030-12-15      | Variable      | 0.03%                 | Yes           |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | FL ORLANDO HLTH 2025-XF3302-NUV Q=WF D7                                   | CUSIP: 88035MEG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  13200000 | PA      | $13200000.00  | 0.72%             | 2056-10-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| HIGHER ED STUDENT ASSISTANCE AUTH NJ STUDENT LN REV                                       | NJ STUD LOAN SER B 5% 12/1/2026@                                          | CUSIP: 646080TT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    635000 | PA      | $646644.38    | 0.04%             | 2026-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MILWAUKEE WI                                                                              | MILWAUKEE 2% 3/1/2027                                                     | CUSIP: 602366VT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1965000 | PA      | $1940684.89   | 0.11%             | 2027-03-01      | Fixed         | 0.02%                 | No            |                  2 | On Loan: No      |
| MIZUHO FLOATER / RESIDUAL TR VAR STS                                                      | MIAMI-DADE CNTY FL MFH SUPERIOR MANOR APTS 2022-MIZ9087 MZ/MZ D35         | CUSIP: 60700HKP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1015000 | PA      | $1015000.00   | 0.06%             | 2061-11-01      | Variable      | 0.03%                 | Yes           |                  2 | On Loan: No      |
| TEXAS MUN GAS ACQUISITION and SUPPLY CORP IV GAS SUPPLY REV                               | TEXAS GAS IV 5.25% 1/1/2026                                               | CUSIP: 88256PAJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    760000 | PA      | $763672.47    | 0.04%             | 2026-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TEXAS STATE                                                                               | TX ST 5.50% 8/1/2026 @                                                    | CUSIP: 8827235Z8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    645000 | PA      | $658641.56    | 0.04%             | 2026-08-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| NEW HAVEN CT                                                                              | NEW_HAVEN CT 5% 8/1/2028                                                  | CUSIP: 645021DL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2905000 | PA      | $3095688.56   | 0.17%             | 2028-08-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA HIGHER ED and HEALTH AUTH REV                                          | PA THO JFFRSN U 18D RFLOAT V7                                             | CUSIP: 613603ZL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8380000 | PA      | $8380000.00   | 0.46%             | 2050-09-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| GUAM POWER AUTH.                                                                          | GUAM POWER AUTH 5% 10/1/2025 Q                                            | CUSIP: 400653JQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    980000 | PA      | $980000.00    | 0.05%             | 2025-10-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH N H SOLID WASTE DISP REV                                                | NATIONAL FN AT 2.15% MT@                                                  | CUSIP: 63608RAF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4100000 | PA      | $4101743.32   | 0.22%             | 2033-07-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| GEORGIA MUN ELEC AUTH PWR REV                                                             | GA MEAG 5% 1/1/2028                                                       | CUSIP: 626207Q49<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2005000 | PA      | $2041552.95   | 0.11%             | 2028-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| HAMILTON CNTY OH SWR SYS REV                                                              | HAMILTON OH SWR 5% 12/1/2025                                              | CUSIP: 407288H28<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    755000 | PA      | $757817.43    | 0.04%             | 2025-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | AZ MFH SAFFORD PRJ 2023-XF3174-AMR MZ/MZ D7                               | CUSIP: 88035GT24<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5940000 | PA      | $5940000.00   | 0.33%             | 2041-11-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HEALTH CARE FACS AUTH REV                                                   | WA ST HLTH CAR 5% 8/15/2029                                               | CUSIP: 93978HB79<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $888912.17    | 0.05%             | 2029-08-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| CHATANOOGA TN HEALTH ED and HSG FAC BRD REV                                               | CHTNOOGA TN COMNSPIRIT HLTH V7                                            | CUSIP: 162410CB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  15140000 | PA      | $15140000.00  | 0.83%             | 2039-05-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| GARLAND TX WTR and SWR REV                                                                | GARLAND TX WTR and 5% 3/1/2029                                            | CUSIP: 366168TJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    510000 | PA      | $550372.42    | 0.03%             | 2029-03-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| APPLING CNTY GA DEV AUTH PCR                                                              | GA OGLETHORPE PWR HATCH 13A V7                                            | CUSIP: 038315EX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7100000 | PA      | $7100000.00   | 0.39%             | 2038-01-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI BUSINESS FIN CORPMISS SOLID WASTE DISP FAC and WASTEWATER FAC REV             | MS PWR - SOUTHERN CO 22-1 V1@                                             | CUSIP: 60528EAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8170000 | PA      | $8170000.00   | 0.45%             | 2052-11-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| PORT PORT ARTHUR TX NAV DIST E                                                            | PORT ARTHUR NAV DIST TX ENVIR VAR-REF-MOTIVA ENTERPRISES PJ ***AMT***     | CUSIP: 735220AG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  58085000 | PA      | $58085000.00  | 3.18%             | 2027-12-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| ALEXANDRIA VA REDV and HSG AU MFH                                                         | ALEXANDRIA MFH 3.4% MT                                                    | CUSIP: 015330FB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3525000 | PA      | $3526503.06   | 0.19%             | 2054-12-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| UTAH CNTY UTAH HOSP REV                                                                   | UT CNTY UT HOSP 5% MT                                                     | CUSIP: 917393DF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1565000 | PA      | $1594057.36   | 0.09%             | 2060-05-15      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| DAUPHIN CO PA GEN AUTH HLTH SYS REV                                                       | DAUPHIN HLTH PA 5% 6/1/26                                                 | CUSIP: 23825EDN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    255000 | PA      | $258152.18    | 0.01%             | 2026-06-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| RAILSPLITTER TOB SETTLEMENT AUTH ILL TOB SETTLEMENT REV                                   | RAILSPLITTER IL 5% 6/1/26                                                 | CUSIP: 75076PAY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    635000 | PA      | $645210.67    | 0.04%             | 2026-06-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NORTHSIDE TX INDPT SCH DIST                                                               | NTHSIDE TX ISD 3.45% G=PSF 8/1/2054 MT                                    | CUSIP: 66702RK92<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2120000 | PA      | $2142708.59   | 0.12%             | 2054-08-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV                                   | CALIFORNIA CMY 5% 9/1/2028                                                | CUSIP: 13013JEE2<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1460000 | PA      | $1539474.66   | 0.08%             | 2028-09-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| LONG ISLAND PWR AUTH NY ELEC                                                              | LIPA NY 9/1/2055 MT                                                       | CUSIP: 542691LD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3755000 | PA      | $3735614.06   | 0.20%             | 2055-09-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA HSG FIN AGY MULTIFAMILY HSG REV                                            | NC HSG FIN AGY 3.2% MT                                                    | CUSIP: 65820BBB1<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4000118.00   | 0.22%             | 2056-07-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | ANCHORAGE AK PORT REV 2025-XF3381-INV E-AGC/Q=WF D7@                      | CUSIP: 88035PJP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5200000 | PA      | $5200000.00   | 0.29%             | 2050-02-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| MONROE CNTY GA DEV AUTH PCR                                                               | MONROE GA PCR 3.875% MT                                                   | CUSIP: 610530FV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1725000 | PA      | $1731646.08   | 0.09%             | 2042-06-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| MIZUHO FLOATER / RESIDUAL TR VAR STS                                                      | OK MFH DUNCAN PL 2022-MIZ9103 MZ/MZ D35                                   | CUSIP: 60700HNB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1642775 | PA      | $1642775.00   | 0.09%             | 2062-08-01      | Variable      | 0.03%                 | Yes           |                  2 | On Loan: No      |
| PORT PORT ARTHUR TX NAV DIST E                                                            | PRT ARTHR TX MTVA10D Q=SELF V7                                            | CUSIP: 735220AX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  36775000 | PA      | $36775000.00  | 2.02%             | 2040-11-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| DETROIT MI DOWNTOWN DEV AUTH TAX                                                          | DETROIT DWNTWN 5% 7/1/2027                                                | CUSIP: 251135HC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $572301.84    | 0.03%             | 2027-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NORTHSIDE TX INDPT SCH DIST                                                               | NTHSIDE TX ISD 3% MT                                                      | CUSIP: 66702RH54<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5905000 | PA      | $5909716.32   | 0.32%             | 2053-08-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | BUFORD GA MF HSG AUTH 2023-XF3118-AMR MZ/MZ D7                            | CUSIP: 88035FN48<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1855143 | PA      | $1855143.00   | 0.10%             | 2041-03-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY IL UNIV REV                                                                    | UNIV IL 5% 10/1/2027                                                      | CUSIP: 9143536X0<br>LEI: 549300VD8PPC4Q5HK850 | Long             | DBT              | MUN               | US        |    255000 | PA      | $265545.75    | 0.01%             | 2027-10-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TARRANT CNTY TX CULTURAL ED FACS FIN CORP HOSP REV                                        | TARRANT EFFC HO 5% MT                                                     | CUSIP: 87638QSF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2695000 | PA      | $2718316.06   | 0.15%             | 2052-11-15      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| HALIFAX CNTY VA INDL DEV AUTH POLLUTION CTL REV VRDO IAM COML PAPER 3/A2 SER 1992         | HALIFAX CNTY VA 3.8% MT                                                   | CUSIP: 40579PAE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1115000 | PA      | $1131351.36   | 0.06%             | 2041-12-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSN AUTH NY RV                                                            | NY MTA TRANSP 5% 11/15/2026                                               | CUSIP: 59259Y5R6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1585000 | PA      | $1589498.55   | 0.09%             | 2026-11-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| DETROIT MI                                                                                | DETROIT MI 5% 5/1/2028                                                    | CUSIP: 2510936J4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    745000 | PA      | $779936.03    | 0.04%             | 2028-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT ARPTS REV                                                             | LA CA AIRPT 5% 5/15/2026 @                                                | CUSIP: 544445W54<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    510000 | PA      | $517313.66    | 0.03%             | 2026-05-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | BLACK BELT AL ENERGY 2022-ZL0396-BLK Q=MO D7                              | CUSIP: 88035EQD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2795000 | PA      | $2795000.00   | 0.15%             | 2053-02-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL MIDWAY ARPT REV                                                                | CHICAGO MIDWAY 5% 1/1/2028 @                                              | CUSIP: 167562RS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1480000 | PA      | $1544697.61   | 0.08%             | 2028-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA GAS SUPPLY REV                                                    | MAIN STR NAT GA 5% 12/1/2027                                              | CUSIP: 56035DHN5<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1037102.60   | 0.06%             | 2027-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PORT AUTH NY and NJ                                                                       | PORT NY NJ 5% 10/1/2025 AMT                                               | CUSIP: 73358WZY3<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   1225000 | PA      | $1225000.00   | 0.07%             | 2025-10-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| HUMBLE TX INDPT SCH DIST                                                                  | HUMBLE TX ISD 0% 2/15/2029                                                | CUSIP: 445047NJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3490000 | PA      | $3784656.51   | 0.21%             | 2029-02-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| HUTTO TX INDPT SCH DIST                                                                   | HUTTO TX ISD 4% MT                                                        | CUSIP: 4484926N3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2755000 | PA      | $2841184.67   | 0.16%             | 2055-02-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA ARPT REV                                                                       | ATLANTA GA ARPT 5% 7/1/2029 @                                             | CUSIP: 04780M2K4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1940950.62   | 0.11%             | 2029-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WESTFIELD WASHINGTON IND MULTI                                                            | WSTFLD WA SCH 5% 7/15/2028                                                | CUSIP: 96023PNL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    615000 | PA      | $653813.63    | 0.04%             | 2028-07-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| KANSAS CITY MO PLANNED INDL EXPANSION AUTH MULTIFAMILY HSG REV                            | KANSAS CITY MSR 5% MT                                                     | CUSIP: 48507MAC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1528000 | PA      | $1566022.75   | 0.09%             | 2045-07-01      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA GAS SUPPLY REV                                                    | MAIN STR NAT GA 5% 3/1/2027                                               | CUSIP: 56035DGH9<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    700000 | PA      | $718104.17    | 0.04%             | 2027-03-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA PCF SOLID WST DISP                                                             | CAL PCR SWDR 4.25% 7/1/2043 MT @                                          | CUSIP: 130536RN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6150000 | PA      | $6145533.87   | 0.34%             | 2043-07-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV                                                  | SAN DIEGO ARPT 5% 7/1/2029 @                                              | CUSIP: 79739GSL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1595000 | PA      | $1719897.91   | 0.09%             | 2029-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | NY MTA TRANSP 2022-XF1321-LA Q=JPMC BK D7                                 | CUSIP: 88035AUM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3025000 | PA      | $3025000.00   | 0.17%             | 2055-11-15      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSPORTATION DEVELOPMENT CORP                                                  | NY TRANS CORP 5% 12/1/2025 @                                              | CUSIP: 650116DE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1875000 | PA      | $1880261.06   | 0.10%             | 2025-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NEW ORLEANS LA AVIATION BOARD                                                             | N ORLEANS AVIAT 5% 1/1/2027@                                              | CUSIP: 64763HLY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2340000 | PA      | $2398887.97   | 0.13%             | 2027-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY AZ POLLUTION CTL                                                            | MARICOPA AZ PUB SVC 09D V7                                                | CUSIP: 566854ES0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3800000 | PA      | $3800000.00   | 0.21%             | 2029-05-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| FORT WORTH TEX SPL TAX REV                                                                | FORT WRTH TEX 5% 3/1/2028                                                 | CUSIP: 349507DD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $527103.05    | 0.03%             | 2028-03-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | CHICAGO IL WSTWTR 2025-XG0605-NUV I=AG Q=BC D7                            | CUSIP: 88035MWN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3400000 | PA      | $3400000.00   | 0.19%             | 2058-01-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| NJ HLTH CARE FACS FING AUTH DEPT HUMAN SVCS LEASE                                         | NJ HLTH CARE FA 5% 9/15/2027                                              | CUSIP: 64579XEN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    630000 | PA      | $659862.57    | 0.04%             | 2027-09-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| J P MORGAN CHASE PUTTERS / DRIVERS TR VAR STS                                             | PA TPK PUTTER-5096 Q=JPS D7                                               | CUSIP: 46640KU85<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3400000 | PA      | $3400000.00   | 0.19%             | 2047-06-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| SEATTLE WASH HSG AUTH REV                                                                 | SEATTLE WA HSG 5% 6/1/2027                                                | CUSIP: 812636PA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    765000 | PA      | $778280.55    | 0.04%             | 2027-06-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH REV                                                          | NEW JERSEY ECN 5% 6/15/2026                                               | CUSIP: 64577XET9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2295000 | PA      | $2332282.73   | 0.13%             | 2026-06-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA URBAN RESDTL FIN AUTH MF HSG REV                                               | ATLANTA GA URBAN RESDTL FIN 3.4% MT                                       | CUSIP: 04785VBX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2532382.50   | 0.14%             | 2029-02-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| WESTFIELD WASHINGTON IND MULTI                                                            | WSTFLD WA SCH 5% 1/15/2028                                                | CUSIP: 96023PNK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $657615.31    | 0.04%             | 2028-01-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| INLIVIAN N C MULTIFAMILY REV                                                              | INLIVIAN N C MU 11/1/2058 MT                                              | CUSIP: 45753CAT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4350000 | PA      | $4406685.29   | 0.24%             | 2058-11-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| ST LAWRENCE CNTY N Y INDL DEV AGY CIVIC DEV CORP REV                                      | ST LAWRENCE CNT 5% 7/1/2026                                               | CUSIP: 791078ED6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    255000 | PA      | $259073.22    | 0.01%             | 2026-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TRIMBLE CNTY KY ENVIRONMENTAL FACS REV                                                    | TRIMBLE CNTY KY 0% 6/1/2054 @                                             | CUSIP: 896221AE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8255000 | PA      | $8343574.50   | 0.46%             | 2054-06-01      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALAGAS PROJ REV                                                | BLACK BELT ENE 5% 6/1/2026                                                | CUSIP: 09182TBH9<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1390000 | PA      | $1407433.24   | 0.08%             | 2026-06-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TX ELEC and GAS REV                                                           | SAN ANTONIO E and G 5% 2/1/2026                                           | CUSIP: 79625GED1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $579388.80    | 0.03%             | 2026-02-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| HUDSON MA                                                                                 | HUDSON TWN MA 6/11/26 BAN                                                 | CUSIP: 443852XA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2519421.50   | 0.14%             | 2026-06-11      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | FHLMC FL GALLERY SMATHERS PLZ 2025-CF7017 CI/CI D7                        | CUSIP: 88035MKR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2790000 | PA      | $2790000.00   | 0.15%             | 2037-04-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| DISTRICT COLUMBIA HSG FIN MULT                                                            | DC HSG MF 3.65% MT                                                        | CUSIP: 25477PQA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2870000 | PA      | $2910606.77   | 0.16%             | 2028-07-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALAGAS PROJ REV                                                | BLACK BELT ENE 5% 2/1/2027                                                | CUSIP: 09182TEZ6<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    240000 | PA      | $246292.99    | 0.01%             | 2027-02-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECONOMIC DEV FINGAUTH UPMC REV                                               | PENNSYLVANIA EC 5% 2/15/2026                                              | CUSIP: 70870JDN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $125964.11    | 0.01%             | 2026-02-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE ST HSG FIN AUTH MULTI-FAMILY HSG                                            | NEW HAMPSHIRE 3.70% 1/1/2027                                              | CUSIP: 64469MRL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1170000 | PA      | $1176872.00   | 0.06%             | 2027-01-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ST HOSP FIN AUTH HOSP REV                                                   | WV UNIV HLTH 18E RFLOAT V7                                                | CUSIP: 956622P32<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4310000 | PA      | $4310000.00   | 0.24%             | 2033-06-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV                                   | CALIFORNIA CMY 5% 12/1/2025                                               | CUSIP: 13013JDS2<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002391.20   | 0.05%             | 2025-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| HAMILTON CNTY OH SWR SYS REV                                                              | HAMILTON OH SWR 5% 12/1/2026                                              | CUSIP: 407288H36<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    755000 | PA      | $776464.65    | 0.04%             | 2026-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP SOLID WASTE DISP REV                                                 | FLORIDA DEV FIN 3.40% 9/1/2050 @                                          | CUSIP: 34061XAH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1449464.37   | 0.08%             | 2050-09-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| WESTFIELD WASHINGTON IND MULTI                                                            | WSTFLD WA SCH 5% 7/15/2027                                                | CUSIP: 96023PPL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    360000 | PA      | $374491.19    | 0.02%             | 2027-07-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GREATER ORLANDO AVIATION AUTH                                                             | GT ORLANDO ARPT 5% 10/1/2028 @                                            | CUSIP: 392275EQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3390000 | PA      | $3607330.87   | 0.20%             | 2028-10-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| DALLAS FORT WORTH TX INTL ARPT                                                            | DFW ARPT 5% 11/1/2028 @                                                   | CUSIP: 23503CFP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  20860000 | PA      | $22122970.79  | 1.21%             | 2028-11-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| FLA HSG FIN CORP MULTIFAMILY MTG REV                                                      | FL MHSG 5% 2/1/2027 MT                                                    | CUSIP: 34074HGZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    985000 | PA      | $991293.07    | 0.05%             | 2027-02-01      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALAGAS PROJ REV                                                | BLACK BELT ENE 5% 8/1/2028                                                | CUSIP: 09182TFC6<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1090000 | PA      | $1148338.00   | 0.06%             | 2028-08-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TEXAS MUN GAS ACQUISITION and SUPPLY CORP IV GAS SUPPLY REV                               | TEXAS GAS IV 5.25% 1/1/2027                                               | CUSIP: 88256PAC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    635000 | PA      | $651077.31    | 0.04%             | 2027-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| AMERICAN MUN PWR REV                                                                      | AMERICAN MUN OH 5% 2/15/2027                                              | CUSIP: 02765URN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4915000 | PA      | $5076992.99   | 0.28%             | 2027-02-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA GAS SUPPLY REV                                                    | MAIN STR NAT GA 4% 12/1/2025                                              | CUSIP: 56035DDS8<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    800000 | PA      | $800871.76    | 0.04%             | 2025-12-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV                                   | CALIFORNIA CMY 5% 3/1/2028                                                | CUSIP: 13013JED4<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    460000 | PA      | $480928.07    | 0.03%             | 2028-03-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NEW HAVEN CT                                                                              | NEW_HAVEN CT 5% 8/1/2026                                                  | CUSIP: 645021CQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $453515.08    | 0.02%             | 2026-08-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MIZUHO FLOATER / RESIDUAL TR VAR STS                                                      | SAN FRANCISCO CA CITY and CNTY MF HSG 2022-MIZ9115 MZ/MZ D35              | CUSIP: 60700HPG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  25415000 | PA      | $25415000.00  | 1.39%             | 2052-12-01      | Variable      | 0.03%                 | Yes           |                  2 | On Loan: No      |
| ALASKA AIRPORT                                                                            | AK AIRPORT 5% 10/1/2025 @                                                 | CUSIP: 011842UN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1075000 | PA      | $1075000.00   | 0.06%             | 2025-10-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| CHANDLER AZ INDL DEVE AUTH IDR                                                            | CHANDLER AZ IDR(INTEL) 5% 9/1/27MT@                                       | CUSIP: 158862CB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12550000 | PA      | $12763264.66  | 0.70%             | 2052-09-01      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AIRPORT REV                                                               | PHIL PA AIRPORT 5% 7/1/2028@                                              | CUSIP: 717817YH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    565000 | PA      | $595853.18    | 0.03%             | 2028-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NJ HLTH CARE FACS FING AUTH DEPT HUMAN SVCS LEASE                                         | NJ HLTH CARE FA 5% 9/15/2026                                              | CUSIP: 64579XEB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $332302.85    | 0.02%             | 2026-09-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| DENTON TEXAS ISD                                                                          | DENTON TX ISD 4% MT                                                       | CUSIP: 249002NM4<br>LEI: 5493005I9W678SUI0Z07 | Long             | DBT              | MUN               | US        |   8355000 | PA      | $8687968.47   | 0.48%             | 2055-08-15      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| NORTH EAST INDPT SCH DIST TX                                                              | NE TX ISD 3.75% 8/1/2049 MT                                               | CUSIP: 659155QL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1870000 | PA      | $1900041.36   | 0.10%             | 2049-08-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| ATRIUM HEALTH                                                                             | ATRIUM HEALTH 3.625% MT                                                   | CUSIP: 160853VT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2850000 | PA      | $2886097.25   | 0.16%             | 2048-01-15      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                                               | IL ST 5% 3/1/2026                                                         | CUSIP: 452153DF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3850000 | PA      | $3887230.27   | 0.21%             | 2026-03-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TENDER OPT BD TR RCPTS / CTFS VAR STS                                                     | BLACK BELT AL ENERGY GAS DIST 2023-XM1110-ALL G=RC Q=RC D7                | CUSIP: 88035FC24<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3600000 | PA      | $3600000.00   | 0.20%             | 2053-12-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| OHIO ST AIR QUALITY DEV AUTH                                                              | OH AIR QUAL 3.65% 12/1/2027 @                                             | CUSIP: 677525XB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4055000 | PA      | $4061154.68   | 0.22%             | 2027-12-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| RIB FLOATER TRUST VARIOUS STS                                                             | IL PLYMOUTH PLACE BC25-002 BC/BC D35                                      | CUSIP: 76252PG45<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6400000 | PA      | $6400000.00   | 0.35%             | 2056-05-15      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH and EDL FACSAUTH REV                                                  | WISCONSIN ST H 5% 10/1/2025 Q                                             | CUSIP: 97712JFJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $585000.00    | 0.03%             | 2025-10-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY                                              | UNASSGND LC 567 2.7% MT                                                   | CUSIP: 59465FAG5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2175000 | PA      | $2161058.69   | 0.12%             | 2043-10-01      | Variable      | 0.03%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH RE                                                                      | MICHIGAN FIN AU 3.75% MT                                                  | CUSIP: 59447TWZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3600000 | PA      | $3600834.48   | 0.20%             | 2049-11-15      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| PHOENIX ARIZ INDL DEV AUTH SOLID WASTE DISP REV                                           | PHX IDA SW 3.85% 12/1/2035 @                                              | CUSIP: 71884RAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6700000 | PA      | $6698965.52   | 0.37%             | 2035-12-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| COCONINO CNTY AZ POLL CTL CORP                                                            | COCONINO AZ PC 4.125% 9/1/2032 @                                          | CUSIP: 191855BN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1460000 | PA      | $1465218.92   | 0.08%             | 2032-09-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** Laura M. Del Prato

**Signature:** Laura M. Del Prato

**Name of Signer:** Laura M. Del Prato

**Title:** President and Treasurer