# EDGAR Filing Document

**Accession Number:** 0000035373
**File Stem:** 0000035402-25-002197
**Filing Date:** 2025-11
**Character Count:** 168526
**Document Hash:** a091027ebe774f4fba79916bb2bd65d2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000035402-25-002197.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0000035402-25-002197

**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:** 251519637

**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 Michigan Municipal Income Fund (Series ID: S000007129)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000019503 | Fidelity Michigan Municipal Income Fund | FMHTX           |

## Nport-Ex

**Quarterly Holdings Report**

**for**

**Fidelity® Michigan Municipal Income Fund**

**September 30, 2025**

MIR-NPRT3-1125

1.807731.121 ---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Municipal Securities - 95.1%** | &nbsp;&nbsp;**Municipal Securities - 95.1%** | &nbsp;&nbsp;**Municipal Securities - 95.1%** |
|  | Principal<br> Amount (a)<br>| Value ($)<br>|
| Guam - 0.9%  |  |  |
| Electric Utilities - 0.2% |  |  |
| Guam Power Auth. 5% 10/1/2044  | 1000000 | 1020087 |
| Water & Sewer - 0.7% |  |  |
| Guam Govt Wtrwks Auth Wtr & Wst Rev Series 2025A, 5.25% 7/1/2039  | 1000000 | 1079307 |
| Guam Govt Wtrwks Auth Wtr & Wst Rev Series 2025A, 5.25% 7/1/2040  | 1105000 | 1184265 |
| Guam Govt Wtrwks Auth Wtr & Wst Rev Series 2025A, 5.5% 7/1/2043  | 750000 | 802964 |
|  |  | 3066536 |
| TOTAL GUAM |  | 4086623 |
| Michigan - 93.2%  |  |  |
| Education - 10.2% |  |  |
| Ferris St Univ Mich Rev Series 2025A, 5% 10/1/2043 (Assured Guaranty Inc Insured)  | 1715000 | 1802742 |
| Ferris St Univ Mich Rev Series 2025A, 5% 10/1/2044 (Assured Guaranty Inc Insured)  | 1010000 | 1057377 |
| Ferris St Univ Mich Rev Series 2025A, 5% 10/1/2045 (Assured Guaranty Inc Insured)  | 800000 | 836578 |
| Ferris St Univ Mich Rev Series 2025A, 5% 10/1/2049 (Assured Guaranty Inc Insured)  | 2000000 | 2086037 |
| Grand Valley MI St Univ Rev 5% 12/1/2034  | 1075000 | 1122454 |
| Grand Valley MI St Univ Rev 5% 12/1/2035  | 1225000 | 1274309 |
| Grand Valley MI St Univ Rev 5% 12/1/2037  | 1375000 | 1418499 |
| Michigan Finance Authority (Calvin University Proj.) 3% 9/1/2050  | 2320000 | 1594233 |
| Michigan Finance Authority (Calvin University Proj.) 5% 9/1/2038  | 1270000 | 1326738 |
| Michigan Finance Authority (Kalamazoo College Proj.) Series 2018, 4% 12/1/2036  | 690000 | 694820 |
| Michigan Finance Authority (Kalamazoo College Proj.) Series 2018, 4% 12/1/2047  | 2610000 | 2324988 |
| Michigan Finance Authority (Lawrence Technological University Proj.) 4% 2/1/2032  | 285000 | 282751 |
| Michigan Finance Authority (Lawrence Technological University Proj.) Series 2022, 4% 2/1/2027  | 100000 | 99927 |
| Michigan Finance Authority (Lawrence Technological University Proj.) Series 2022, 4% 2/1/2042  | 1120000 | 949470 |
| Michigan Finance Authority (University of Detroit Mercy Proj.) Series 2023, 5% 11/1/2032  | 1110000 | 1182399 |
| Michigan Finance Authority (University of Detroit Mercy Proj.) Series 2023, 5% 11/1/2033  | 1250000 | 1327281 |
| Michigan Finance Authority (University of Detroit Mercy Proj.) Series 2023, 5% 11/1/2037  | 2000000 | 2043921 |
| Michigan Finance Authority (University of Detroit Mercy Proj.) Series 2023, 5.25% 11/1/2035  | 1400000 | 1482711 |
| Michigan St Univ Revs Series 2024A, 5.25% 8/15/2054  | 3000000 | 3168683 |
| Michigan St Univ Revs Series 2025A, 5.25% 2/15/2050  | 2150000 | 2289497 |
| Michigan Technological Univ Series 2021, 4% 10/1/2046  | 2835000 | 2569334 |
| Northern MI Univ Revs Series 2021, 4% 6/1/2039  | 900000 | 893821 |
| Northern MI Univ Revs Series 2021, 4% 6/1/2040  | 500000 | 489135 |
| Northern MI Univ Revs Series 2021, 4% 6/1/2041  | 1385000 | 1336538 |
| Northern MI Univ Revs Series 2021, 4% 6/1/2046  | 1850000 | 1667523 |
| Northern MI Univ Revs Series 2021, 5% 6/1/2032  | 375000 | 412704 |
| Northern MI Univ Revs Series 2021, 5% 6/1/2033  | 365000 | 399236 |
| Northern MI Univ Revs Series 2021, 5% 6/1/2034  | 375000 | 407689 |
| Northern MI Univ Revs Series 2021, 5% 6/1/2035  | 375000 | 404999 |
| Northern MI Univ Revs Series 2021, 5% 6/1/2036  | 400000 | 427976 |
| Wayne St Univ MI Univ Revs Series 2023A, 4% 11/15/2039 (Build America Mutual Assurance Co Insured)  | 2000000 | 2012100 |
| Wayne St Univ MI Univ Revs Series 2023A, 4% 11/15/2040 (Build America Mutual Assurance Co Insured)  | 1500000 | 1495483 |
| Wayne St Univ MI Univ Revs Series 2024A, 5% 11/15/2035 (Build America Mutual Assurance Co Insured)  | 1000000 | 1136843 |
| Wayne St Univ MI Univ Revs Series 2024A, 5% 11/15/2036 (Build America Mutual Assurance Co Insured)  | 1200000 | 1351767 |
| Wayne St Univ MI Univ Revs Series 2025A, 5.25% 11/15/2055  | 1000000 | 1039376 |
| Western MI Univ Revs Series 2021 A, 5% 11/15/2031 (Assured Guaranty Inc Insured)  | 150000 | 166971 |
| Western MI Univ Revs Series 2021 A, 5% 11/15/2032 (Assured Guaranty Inc Insured)  | 300000 | 331876 |
| Western MI Univ Revs Series 2021 A, 5% 11/15/2036 (Assured Guaranty Inc Insured)  | 400000 | 430825 |
| Western MI Univ Revs Series 2021 A, 5% 11/15/2038 (Assured Guaranty Inc Insured)  | 625000 | 665304 |
| Western MI Univ Revs Series 2021 A, 5% 11/15/2040 (Assured Guaranty Inc Insured)  | 635000 | 668981 |
| Western MI Univ Revs Series 2025A, 5.25% 11/15/2054  | 1000000 | 1048882 |
|  |  | 47722778 |
| Electric Utilities - 4.7% |  |  |
| Lansing Mich Brd Wtr & Lt Util Sys Rev 2% tender 7/1/2051 (b) | 2000000 | 1975505 |
| Lansing Mich Brd Wtr & Lt Util Sys Rev Series 2024 A, 5% 7/1/2054  | 2000000 | 2080605 |
| Marquette MI Lt & Pwr Elec Util 5% 7/1/2029  | 780000 | 791341 |
| Marquette MI Lt & Pwr Elec Util 5% 7/1/2030  | 900000 | 912750 |
| Marquette MI Lt & Pwr Elec Util 5% 7/1/2031  | 780000 | 790643 |
| Marquette MI Lt & Pwr Elec Util 5% 7/1/2032  | 1000000 | 1013197 |
| Marquette MI Lt & Pwr Elec Util 5% 7/1/2033  | 705000 | 713726 |
| Michigan Fin Auth Act 38 Facs Sr Rev (Provident Grp Hfh Energy LLC Proj.) Series 2024, 5% 2/28/2038  | 1700000 | 1849998 |
| Michigan Fin Auth Act 38 Facs Sr Rev (Provident Grp Hfh Energy LLC Proj.) Series 2024, 5% 2/28/2039  | 1000000 | 1078554 |
| Michigan Fin Auth Act 38 Facs Sr Rev (Provident Grp Hfh Energy LLC Proj.) Series 2024, 5.25% 2/29/2040  | 600000 | 646267 |
| Michigan St Strategic Fd Ltd Oblig Rev (Dte Elec Co Proj.) Series 2023 DT, 3.875% tender 6/1/2053 (b)(c) | 7000000 | 6859135 |
| Michigan St Strategic Fd Ltd Oblig Rev (DTE Electric Co Proj.) 1.35% 8/1/2029  | 2000000 | 1823316 |
| Michigan St Strategic Fd Ltd Oblig Rev (DTE Electric Co Proj.) 1.45% 9/1/2030  | 2000000 | 1779766 |
|  |  | 22314803 |
| Escrowed/Pre-Refunded - 0.0% |  |  |
| Kalamazoo MI Hosp Fin Auth Hosp Fac Rev Series 2016, 5% 5/15/2028 (Pre-refunded to 5/15/2026 at 100)  | 5000 | 5070 |
| Kalamazoo MI Hosp Fin Auth Hosp Fac Rev Series 2016, 5% 5/15/2030 (Pre-refunded to 5/15/2026 at 100)  | 30000 | 30419 |
|  |  | 35489 |
| General Obligations - 27.3% |  |  |
| Barry Cnty Mich Gen. Oblig. 2% 3/1/2037  | 260000 | 202079 |
| Berkley Mich Sch Dist 4% 5/1/2031 (State of Michigan Guaranteed)  | 535000 | 571662 |
| Berkley Mich Sch Dist 4% 5/1/2033 (State of Michigan Guaranteed)  | 210000 | 224769 |
| Berkley Mich Sch Dist 5% 5/1/2040 (State of Michigan Guaranteed)  | 310000 | 341607 |
| Berkley Mich Sch Dist Series 2024 II, 5% 5/1/2030 (State of Michigan Guaranteed)  | 375000 | 416144 |
| Berkley Mich Sch Dist Series 2024 II, 5% 5/1/2031 (State of Michigan Guaranteed)  | 450000 | 507518 |
| Berkley Mich Sch Dist Series 2024 II, 5% 5/1/2032 (State of Michigan Guaranteed)  | 400000 | 456413 |
| Berkley Mich Sch Dist Series 2024 II, 5% 5/1/2033 (State of Michigan Guaranteed)  | 500000 | 575501 |
| Berkley Mich Sch Dist Series 2024 II, 5% 5/1/2036 (State of Michigan Guaranteed)  | 540000 | 614675 |
| Berkley Mich Sch Dist Series 2024 II, 5% 5/1/2037 (State of Michigan Guaranteed)  | 1075000 | 1213426 |
| Berkley Mich Sch Dist Series 2024 II, 5% 5/1/2038 (State of Michigan Guaranteed)  | 575000 | 642626 |
| Berkley Mich Sch Dist Series 2024 II, 5% 5/1/2039 (State of Michigan Guaranteed)  | 650000 | 720341 |
| Berkley Mich Sch Dist Series 2024 II, 5% 5/1/2040 (State of Michigan Guaranteed)  | 350000 | 384881 |
| Berkley Mich Sch Dist Series 2024 II, 5% 5/1/2041 (State of Michigan Guaranteed)  | 775000 | 840618 |
| Birmingham Ciy School District Series 2024, 5% 5/1/2033  | 350000 | 400278 |
| Birmingham Ciy School District Series 2024, 5% 5/1/2034  | 425000 | 481870 |
| Birmingham Ciy School District Series 2024, 5% 5/1/2035  | 450000 | 506015 |
| Birmingham Ciy School District Series 2024, 5% 5/1/2036  | 300000 | 334206 |
| Birmingham Ciy School District Series 2024, 5% 5/1/2037  | 280000 | 309578 |
| Birmingham Ciy School District Series 2024, 5% 5/1/2038  | 600000 | 657894 |
| Brighton MI Area School Dist Series 2020, 3% 5/1/2036 (State of Michigan Guaranteed)  | 1260000 | 1122938 |
| Byron Center Mich Pub Schs Series 2023 II, 5.25% 5/1/2053 (State of Michigan Guaranteed)  | 3570000 | 3762873 |
| Charles Stewart Mott Cmnty College Dist MI Gen. Oblig. Series 2020, 2.125% 5/1/2034 (Assured Guaranty Municipal Corp Insured)  | 825000 | 695993 |
| Chippewa Valley MI Schs 5% 5/1/2032 (State of Michigan Guaranteed)  | 1000000 | 1001839 |
| Chippewa Valley MI Schs 5% 5/1/2034 (State of Michigan Guaranteed)  | 1075000 | 1076978 |
| City of Lansing MI Gen. Oblig. 4% 6/1/2040 (Assured Guaranty Inc Insured)  | 4810000 | 4732709 |
| Clarkston MI Cmnty Schs Series 2025 II, 5.25% 5/1/2050 (State of Michigan Guaranteed)  | 2000000 | 2108422 |
| County of Genesee MI Water Supply System Revenue (Genesee Cnty MI Proj.) Gen. Oblig. 5% 11/1/2037 (Assured Guaranty Inc Insured)  | 1000000 | 1107783 |
| County of Genesee MI Water Supply System Revenue (Genesee Cnty MI Proj.) Gen. Oblig. 5% 11/1/2038 (Assured Guaranty Inc Insured)  | 800000 | 880539 |
| Crestwood Mich Sch Dist 5% 5/1/2045 (State of Michigan Guaranteed)  | 400000 | 419856 |
| Detroit MI Gen. Oblig. Series 2020, 5.5% 4/1/2035  | 1040000 | 1121296 |
| Detroit MI Gen. Oblig. Series 2020, 5.5% 4/1/2036  | 435000 | 466371 |
| Detroit MI Gen. Oblig. Series 2020, 5.5% 4/1/2037  | 465000 | 495998 |
| Detroit MI Gen. Oblig. Series 2020, 5.5% 4/1/2038  | 490000 | 519887 |
| Detroit MI Gen. Oblig. Series 2021A, 5% 4/1/2037  | 1875000 | 1976068 |
| Detroit MI Gen. Oblig. Series 2021A, 5% 4/1/2039  | 1210000 | 1258441 |
| Detroit MI Gen. Oblig. Series 2023C, 6% 5/1/2043  | 1500000 | 1632699 |
| Detroit MI Gen. Oblig. Series 2024, 5% 5/1/2038  | 3520000 | 3755631 |
| Detroit MI Gen. Oblig. Series 2024, 5% 5/1/2039  | 3700000 | 3914787 |
| Farmington Mich Pub Sch Dist Series 2020, 4% 5/1/2040  | 3000000 | 2965394 |
| Ferndale Mich Pub Schs Series 2020, 3% 5/1/2045 (State of Michigan Guaranteed)  | 1000000 | 789619 |
| Gerald R Ford Intl Arpt Auth Mich Rev (Kent Cnty MI Proj.) Series 2021, 5% 1/1/2026 (c) | 225000 | 226188 |
| Gerald R Ford Intl Arpt Auth Mich Rev (Kent Cnty MI Proj.) Series 2021, 5% 1/1/2029 (c) | 525000 | 561787 |
| Gerald R Ford Intl Arpt Auth Mich Rev (Kent Cnty MI Proj.) Series 2021, 5% 1/1/2030 (c) | 425000 | 462148 |
| Gerald R Ford Intl Arpt Auth Mich Rev (Kent Cnty MI Proj.) Series 2021, 5% 1/1/2031 (c) | 725000 | 799049 |
| Gerald R Ford Intl Arpt Auth Mich Rev (Kent Cnty MI Proj.) Series 2021, 5% 1/1/2032 (c) | 725000 | 804587 |
| Gerald R Ford Intl Arpt Auth Mich Rev (Kent Cnty MI Proj.) Series 2021, 5% 1/1/2033 (c) | 1000000 | 1099916 |
| Gerald R Ford Intl Arpt Auth Mich Rev (Kent Cnty MI Proj.) Series 2021, 5% 1/1/2034 (c) | 1000000 | 1089485 |
| Gerald R Ford Intl Arpt Auth Mich Rev (Kent Cnty MI Proj.) Series 2021, 5% 1/1/2037 (c) | 700000 | 746542 |
| Gerald R Ford Intl Arpt Auth Mich Rev (Kent Cnty MI Proj.) Series 2021, 5% 1/1/2038 (c) | 1170000 | 1238838 |
| Gerald R Ford Intl Arpt Auth Mich Rev (Kent Cnty MI Proj.) Series 2021, 5% 1/1/2039 (c) | 1000000 | 1051429 |
| Gerald R Ford Intl Arpt Auth Mich Rev (Kent Cnty MI Proj.) Series 2021, 5% 1/1/2040 (c) | 1000000 | 1042856 |
| Gerald R Ford Intl Arpt Auth Mich Rev (Kent Cnty MI Proj.) Series 2021, 5% 1/1/2041 (c) | 1100000 | 1139014 |
| Gerald R Ford Intl Arpt Auth Mich Rev (Kent Cnty MI Proj.) Series 2021, 5% 1/1/2046 (c) | 2000000 | 2028791 |
| Gerald R Ford Intl Arpt Auth Mich Rev (Kent Cnty MI Proj.) Series 2024, 5% 1/1/2049 (c) | 3040000 | 3078394 |
| Grand Rapids MI Gen. Oblig. Series 2025, 5% 4/1/2055  | 2000000 | 2058146 |
| Grand Rapids MI Pub Schs 5% 5/1/2029 (Assured Guaranty Inc Insured)  | 480000 | 496600 |
| Grandville Mich Pub Schs Dist Series I, 4% 5/1/2039 (Assured Guaranty Inc Insured)  | 1000000 | 1001157 |
| Grandville Mich Pub Schs Dist Series I, 4% 5/1/2040 (Assured Guaranty Inc Insured)  | 1300000 | 1305067 |
| Grosse Pointe MI Pub Sch Sys Series 2021, 3% 5/1/2033  | 1000000 | 974638 |
| Grosse Pointe Park Mich Gen. Oblig. Series 2019, 2.375% 10/1/2039  | 510000 | 394097 |
| Holland MI Sch Dist Series 2023 II, 4% 11/1/2039 (State of Michigan Guaranteed)  | 1855000 | 1860862 |
| Holland MI Sch Dist Series 2023 II, 4% 11/1/2040 (State of Michigan Guaranteed)  | 1915000 | 1903078 |
| Kalamazoo Cnty Mich Gen. Oblig. 2% 5/1/2037  | 2495000 | 1940751 |
| Kalamazoo Cnty Mich Gen. Oblig. 3% 5/1/2030  | 1690000 | 1711411 |
| Kalamazoo Cnty Mich Gen. Oblig. Series 2021, 2% 5/1/2038  | 1660000 | 1249736 |
| Karegnondi Wtr Auth Mich (Genesee Cnty MI Proj.) Series 2024, 5% 11/1/2039 (Build America Mutual Assurance Co Insured)  | 2250000 | 2459140 |
| Lanse Creuse Mich Pub Sch 5% 5/1/2049 (State of Michigan Guaranteed)  | 2750000 | 2868033 |
| Lansing Mich Sch Dist Series 2025 II, 5% 5/1/2031 (State of Michigan Guaranteed)  | 605000 | 679314 |
| Lansing Mich Sch Dist Series 2025 II, 5% 5/1/2032 (State of Michigan Guaranteed)  | 580000 | 658050 |
| Lansing Mich Sch Dist Series 2025 II, 5% 5/1/2036 (State of Michigan Guaranteed)  | 755000 | 849884 |
| Lansing Mich Sch Dist Series 2025 II, 5% 5/1/2037 (State of Michigan Guaranteed)  | 1000000 | 1112486 |
| Lansing Mich Sch Dist Series 2025 II, 5% 5/1/2038 (State of Michigan Guaranteed)  | 1400000 | 1545958 |
| Lincoln MI Cons Sch Dist 5% 5/1/2031 (State of Michigan Guaranteed)  | 500000 | 505238 |
| Lincoln MI Cons Sch Dist 5% 5/1/2032 (State of Michigan Guaranteed)  | 1000000 | 1009608 |
| Macomb Interceptor Drain Drainage District (Macomb CO Proj.) Gen. Oblig. 5% 5/1/2034  | 1750000 | 1803110 |
| Mattawan Consolidated School District MI Series 2024 I, 5% 5/1/2054 (State of Michigan Guaranteed)  | 1000000 | 1033928 |
| Michigan St Bldg Auth Rev (State of Michigan Proj.) 3% 10/15/2045  | 8670000 | 7030542 |
| Michigan St Bldg Auth Rev (State of Michigan Proj.) 5.25% 4/15/2059  | 3000000 | 3159043 |
| Michigan St Bldg Auth Rev (State of Michigan Proj.) Series 2021 I, 3% 10/15/2051  | 1770000 | 1331191 |
| Michigan St Bldg Auth Rev (State of Michigan Proj.) Series 2023 II, 5% 10/15/2037  | 2000000 | 2215693 |
| Midland Cnty Mich Wtr Supply Sys Lee Twp (Midland Cnty Mich Proj.) Gen. Oblig. Series 2020, 3% 9/1/2048  | 695000 | 547417 |
| Orion Charter Twp Mich Gen. Oblig. Series 2020, 2% 4/1/2034  | 795000 | 665142 |
| Pennfield Mich Schs Dist Series 2022, 3% 5/1/2051 (State of Michigan Guaranteed)  | 1160000 | 871962 |
| Portage MI Pub Schs 4% 11/1/2042  | 1000000 | 945917 |
| Portage MI Pub Schs 5% 11/1/2032  | 2500000 | 2526482 |
| Portage MI Pub Schs 5% 11/1/2034  | 1250000 | 1261214 |
| Portage Mich Gen. Oblig. 2% 7/1/2035  | 780000 | 634383 |
| Portage Mich Gen. Oblig. 2% 7/1/2036  | 795000 | 626365 |
| Portage Mich Gen. Oblig. 2% 7/1/2037  | 810000 | 618864 |
| Saginaw Cnty MI Gen. Oblig. Series 2020B, 3% 12/1/2040  | 500000 | 429452 |
| State of Michigan Gen. Oblig. 4% 5/15/2040  | 500000 | 503774 |
| Utica MI Cmnty Schs Series 2024, 5% 5/1/2039 (State of Michigan Guaranteed)  | 1250000 | 1368789 |
| Warren MI Cons Sch Dist 5% 5/1/2037 (State of Michigan Guaranteed)  | 3105000 | 3521582 |
| Warren MI Cons Sch Dist Series 2016, 5% 5/1/2035 (State of Michigan Guaranteed)  | 1250000 | 1258832 |
| Warren MI Cons Sch Dist Series 2018, 5% 5/1/2032 (State of Michigan Guaranteed)  | 1100000 | 1160933 |
| Warren Mich Gen. Oblig. Series 2023, 5% 6/1/2039  | 1310000 | 1423975 |
| Woodhaven Brownstown MI SD 5% 5/1/2055 (State of Michigan Guaranteed)  | 1000000 | 1033940 |
| Woodhaven Brownstown MI SD Series 2021 I, 3% 11/1/2046 (State of Michigan Guaranteed)  | 1000000 | 769691 |
| Wyandotte Mich City Sch Dist 5% 5/1/2040  | 300000 | 328309 |
| Wyandotte Mich City Sch Dist 5% 5/1/2041  | 375000 | 406222 |
| Ypsilanti Mich Sch Dist Series 2016 A, 5% 5/1/2032 (State of Michigan Guaranteed)  | 2000000 | 2019215 |
|  |  | 127656467 |
| Health Care - 16.4% |  |  |
| Flint MI Hosp Bldg Auth Rev (Hurley Medical Center, MI Proj.) Series 2020, 4% 7/1/2038  | 1800000 | 1731143 |
| Flint MI Hosp Bldg Auth Rev (Hurley Medical Center, MI Proj.) Series 2020, 4% 7/1/2041  | 1395000 | 1297457 |
| Grand Traverse Cnty MI Hosp (Munson Healthcare Proj.) 3% 7/1/2051  | 2440000 | 1681767 |
| Kalamazoo MI Hosp Fin Auth Hosp Fac Rev (Bronson Methodist Hsp, MI Proj.) Series 2016, 5% 5/15/2030  | 4970000 | 5032857 |
| Kent MI Hosp Fin Auth (Mary Free Bed Rehabilitation Hospital Proj.) Series 2021 A, 4% 4/1/2041  | 2805000 | 2638485 |
| Kentwood Mich Economic Dev (Holland Home of Grand Rapids Proj.) Series 2021, 4% 11/15/2045  | 500000 | 404328 |
| Kentwood Mich Economic Dev (Holland Home of Grand Rapids Proj.) Series 2022, 4% 11/15/2031  | 920000 | 912658 |
| Kentwood Mich Economic Dev (Holland Home of Grand Rapids Proj.) Series 2022, 4% 11/15/2043  | 2250000 | 1872278 |
| Michigan Fin Auth Rev (Corewell Health Proj.) 4% 4/15/2042  | 2000000 | 1925377 |
| Michigan Fin Auth Rev (Henry Ford Health Care Corp,Mi Proj.) Series 2016, 5% 11/15/2028  | 2655000 | 2721136 |
| Michigan Fin Auth Rev (Henry Ford Health Care Corp,Mi Proj.) Series 2016, 5% 11/15/2029  | 4950000 | 5071136 |
| Michigan Fin Auth Rev (Henry Ford Health Care Corp,Mi Proj.) Series 2016, 5% 11/15/2030  | 4545000 | 4652513 |
| Michigan Fin Auth Rev (Henry Ford Health Care Corp,Mi Proj.) Series 2019A, 5% 11/15/2048  | 11850000 | 11882286 |
| Michigan Fin Auth Rev (Holland Community Hospital Proj.) 5% 1/1/2031  | 1170000 | 1176450 |
| Michigan Fin Auth Rev (Holland Community Hospital Proj.) 5% 1/1/2032  | 1895000 | 1904823 |
| Michigan Fin Auth Rev (Holland Community Hospital Proj.) 5% 1/1/2033  | 1915000 | 1924382 |
| Michigan Fin Auth Rev (Holland Community Hospital Proj.) 5% 1/1/2034  | 2135000 | 2144819 |
| Michigan Fin Auth Rev (Mclaren Hlth Care Corp Proj.) Series 2015 D2, 1.2% tender 10/15/2038 (b) | 4190000 | 3980250 |
| Michigan Fin Auth Rev (Mclaren Hlth Care Corp Proj.) Series 2019 A, 4% 2/15/2044  | 4140000 | 3784458 |
| Michigan Fin Auth Rev (Mclaren Hlth Care Corp Proj.) Series 2019 A, 4% 2/15/2050  | 6530000 | 5659295 |
| Michigan Fin Auth Rev (Trinity Health Proj.) 5% 12/1/2030  | 710000 | 744201 |
| Michigan Fin Auth Rev (Trinity Health Proj.) Series 2019 A, 4% 12/1/2049  | 8180000 | 7169647 |
| Michigan Fin Auth Rev (Trinity Health Proj.) Series MI 2019 A, 3% 12/1/2049  | 2000000 | 1416544 |
| Michigan St Strategic Fd Ltd Oblig Rev (United Methodist Retirement Community Inc Proj.) 4% 5/15/2027  | 275000 | 274909 |
| Michigan St Strategic Fd Ltd Oblig Rev (United Methodist Retirement Community Inc Proj.) 5% 5/15/2044  | 1500000 | 1429434 |
| Michigan St Strategic Fd Ltd Oblig Rev (United Methodist Retirement Community Inc Proj.) Series 2019, 5% 11/15/2034  | 500000 | 509962 |
| Saginaw MI Hosp Fin Auth Hosp (Covenant Medical Center Inc Proj.) Series 2020 J, 4% 7/1/2036  | 770000 | 777039 |
| Saginaw MI Hosp Fin Auth Hosp (Covenant Medical Center Inc Proj.) Series 2020 J, 4% 7/1/2039  | 1430000 | 1407847 |
| Saginaw MI Hosp Fin Auth Hosp (Covenant Medical Center Inc Proj.) Series 2020 J, 4% 7/1/2040  | 490000 | 476526 |
|  |  | 76604007 |
| Housing - 7.6% |  |  |
| Michigan Hsg Dev Auth Rent Hsg Rev (MI Single Family Mortgage Proj.) 3% 6/1/2051  | 1820000 | 1801562 |
| Michigan Hsg Dev Auth Rent Hsg Rev (MI Single Family Mortgage Proj.) 3.5% 12/1/2050  | 1975000 | 1974017 |
| Michigan Hsg Dev Auth Rent Hsg Rev (MI Single Family Mortgage Proj.) 5% 6/1/2053  | 1765000 | 1843588 |
| Michigan Hsg Dev Auth Rent Hsg Rev (MI Single Family Mortgage Proj.) 5.5% 6/1/2053  | 1975000 | 2090615 |
| Michigan Hsg Dev Auth Rent Hsg Rev (MI Single Family Mortgage Proj.) 6.25% 12/1/2055  | 2000000 | 2229954 |
| Michigan Hsg Dev Auth Rent Hsg Rev (MI Single Family Mortgage Proj.) Series 2018 A, 4% 12/1/2048  | 410000 | 411474 |
| Michigan Hsg Dev Auth Rent Hsg Rev (MI Single Family Mortgage Proj.) Series 2018C, 4.25% 6/1/2049  | 1040000 | 1048034 |
| Michigan Hsg Dev Auth Rent Hsg Rev (MI Single Family Mortgage Proj.) Series 2019 B, 3.75% 6/1/2050  | 1410000 | 1413972 |
| Michigan Hsg Dev Auth Rent Hsg Rev (MI Single Family Mortgage Proj.) Series 2021A, 3% 6/1/2052  | 2140000 | 2114228 |
| Michigan Hsg Dev Auth Rent Hsg Rev (MI Single Family Mortgage Proj.) Series 2024A, 6% 6/1/2054  | 2410000 | 2617465 |
| Michigan Hsg Dev Auth Rent Hsg Rev (Rental Hsg Rev Bonds 11/15/1990 Proj.) Series 2021 A, 2.125% 10/1/2036  | 1775000 | 1426569 |
| Michigan Hsg Dev Auth Rent Hsg Rev (Rental Hsg Rev Bonds 11/15/1990 Proj.) Series 2021 A, 2.45% 10/1/2046  | 2000000 | 1354396 |
| Michigan Hsg Dev Auth Rent Hsg Rev (Rental Hsg Rev Bonds 11/15/1990 Proj.) Series 2021 A, 2.55% 10/1/2051  | 2095000 | 1354040 |
| Michigan Hsg Dev Auth Rent Hsg Rev Series 2023 B, 5.75% 6/1/2054  | 1785000 | 1918299 |
| Michigan Hsg Dev Auth Rent Hsg Rev Series 2023A, 3.8% 12/1/2033  | 1490000 | 1525596 |
| Michigan Hsg Dev Rental Hsg (Rental Hsg Rev Bonds 11/15/1990 Proj.) Series 2019 A 1, 3.35% 10/1/2049  | 3000000 | 2436527 |
| Michigan Hsg Dev Rental Hsg Series 2017 A, 3.75% 10/1/2042  | 2000000 | 1880178 |
| Michigan Hsg Dev Rental Hsg Series 2018 A, 3.8% 10/1/2038  | 3965000 | 3868389 |
| Michigan Hsg Dev Rental Hsg Series 2019 A 1, 3.6% 10/1/2060  | 2500000 | 2067829 |
|  |  | 35376732 |
| Industrial Development - 1.1% |  |  |
| Michigan St Strategic Fd Ltd Oblig Rev (Graphic Packaging Intl Inc Proj.) 4% tender 10/1/2061 (b)(c) | 5000000 | 4997302 |
| Special Tax - 1.5% |  |  |
| Detroit MI Downtown Dev Auth Tax Series 2024, 5% 7/1/2048  | 890000 | 919667 |
| Michigan Fin Auth Rev (Wayne Cnty MI Proj.) Gen. Oblig. 4% 11/1/2055  | 2500000 | 2214042 |
| Michigan Fin Auth Rev (Wayne Cnty MI Proj.) Series 2018, 5% 11/1/2035  | 1000000 | 1044565 |
| Michigan Fin Auth Rev (Wayne Cnty MI Proj.) Series 2018, 5% 11/1/2036  | 1250000 | 1301124 |
| Michigan Fin Auth Rev (Wayne Cnty MI Proj.) Series 2018, 5% 11/1/2038  | 1595000 | 1646102 |
|  |  | 7125500 |
| Tobacco Bonds - 3.2% |  |  |
| Michigan Fin Auth Rev (Michigan Tobacco Settlement Fin Auth Tobacco Settlement Asset Backed Rev Proj.) 4% 6/1/2035  | 2000000 | 1984750 |
| Michigan Fin Auth Rev (Michigan Tobacco Settlement Fin Auth Tobacco Settlement Asset Backed Rev Proj.) 4% 6/1/2037  | 2000000 | 1933585 |
| Michigan Fin Auth Rev (Michigan Tobacco Settlement Fin Auth Tobacco Settlement Asset Backed Rev Proj.) 4% 6/1/2040  | 2000000 | 1849721 |
| Michigan Fin Auth Rev (Michigan Tobacco Settlement Fin Auth Tobacco Settlement Asset Backed Rev Proj.) 4% 6/1/2049  | 7250000 | 6138602 |
| Michigan Fin Auth Rev (Michigan Tobacco Settlement Fin Auth Tobacco Settlement Asset Backed Rev Proj.) Series 2020 A 2, 5% 6/1/2040  | 3000000 | 3041355 |
|  |  | 14948013 |
| Transportation - 15.1% |  |  |
| Michigan St Strategic Fd Ltd Oblig Rev (Oakland Corridor Partners LLC Proj.) Series 2018, 4.25% 12/31/2038 (Assured Guaranty Inc Insured) (c) | 5840000 | 5772042 |
| Michigan St Strategic Fd Ltd Oblig Rev (Oakland Corridor Partners LLC Proj.) Series 2018, 5% 12/31/2025 (c) | 2200000 | 2207106 |
| Michigan St Strategic Fd Ltd Oblig Rev (Oakland Corridor Partners LLC Proj.) Series 2018, 5% 12/31/2026 (c) | 490000 | 499161 |
| Michigan St Strategic Fd Ltd Oblig Rev (Oakland Corridor Partners LLC Proj.) Series 2018, 5% 12/31/2028 (c) | 440000 | 463139 |
| Michigan St Strategic Fd Ltd Oblig Rev (Oakland Corridor Partners LLC Proj.) Series 2018, 5% 12/31/2030 (c) | 4080000 | 4274327 |
| Michigan St Strategic Fd Ltd Oblig Rev (Oakland Corridor Partners LLC Proj.) Series 2018, 5% 12/31/2031 (c) | 3210000 | 3351095 |
| Michigan St Strategic Fd Ltd Oblig Rev (Oakland Corridor Partners LLC Proj.) Series 2018, 5% 12/31/2032 (c) | 1875000 | 1950112 |
| Michigan St Strategic Fd Ltd Oblig Rev (Oakland Corridor Partners LLC Proj.) Series 2018, 5% 12/31/2033 (c) | 2000000 | 2072273 |
| Michigan St Strategic Fd Ltd Oblig Rev (Oakland Corridor Partners LLC Proj.) Series 2018, 5% 12/31/2043 (c) | 4000000 | 4004971 |
| Michigan St Strategic Fd Ltd Oblig Rev (Oakland Corridor Partners LLC Proj.) Series 2018, 5% 6/30/2029 (c) | 35000 | 36802 |
| Michigan St Strategic Fd Ltd Oblig Rev (Oakland Corridor Partners LLC Proj.) Series 2018, 5% 6/30/2031 (c) | 530000 | 554289 |
| Michigan St Strategic Fd Ltd Oblig Rev (Oakland Corridor Partners LLC Proj.) Series 2018, 5% 6/30/2033 (c) | 2415000 | 2506912 |
| Wayne Cnty Mich Arpt Auth Rev 5% 12/1/2029 (c) | 720000 | 721096 |
| Wayne Cnty Mich Arpt Auth Rev 5% 12/1/2031 (c) | 860000 | 861059 |
| Wayne Cnty Mich Arpt Auth Rev 5% 12/1/2037  | 545000 | 557579 |
| Wayne Cnty Mich Arpt Auth Rev Series 2018D, 5% 12/1/2030 (c) | 5865000 | 6193071 |
| Wayne Cnty Mich Arpt Auth Rev Series 2018D, 5% 12/1/2031 (c) | 2825000 | 2964162 |
| Wayne Cnty Mich Arpt Auth Rev Series 2018D, 5% 12/1/2032 (c) | 2945000 | 3078833 |
| Wayne Cnty Mich Arpt Auth Rev Series 2021 A, 5% 12/1/2038  | 1250000 | 1335952 |
| Wayne Cnty Mich Arpt Auth Rev Series 2021 B, 5% 12/1/2035 (c) | 1225000 | 1311351 |
| Wayne Cnty Mich Arpt Auth Rev Series 2021 B, 5% 12/1/2037 (c) | 1520000 | 1604261 |
| Wayne Cnty Mich Arpt Auth Rev Series 2021 B, 5% 12/1/2046 (c) | 1280000 | 1293449 |
| Wayne Cnty Mich Arpt Auth Rev Series 2023 D, 5% 12/1/2030 (Assured Guaranty Inc Insured) (c) | 1270000 | 1391994 |
| Wayne Cnty Mich Arpt Auth Rev Series 2023 D, 5.25% 12/1/2037 (Assured Guaranty Inc Insured) (c) | 900000 | 985780 |
| Wayne Cnty Mich Arpt Auth Rev Series 2023B, 5.25% 12/1/2037 (Assured Guaranty Inc Insured) (c) | 1000000 | 1095311 |
| Wayne Cnty Mich Arpt Auth Rev Series 2023B, 5.25% 12/1/2038 (Assured Guaranty Inc Insured) (c) | 900000 | 977009 |
| Wayne Cnty Mich Arpt Auth Rev Series 2023B, 5.5% 12/1/2039 (Assured Guaranty Inc Insured) (c) | 635000 | 700425 |
| Wayne Cnty Mich Arpt Auth Rev Series 2023B, 5.5% 12/1/2041 (Assured Guaranty Inc Insured) (c) | 1685000 | 1830808 |
| Wayne Cnty Mich Arpt Auth Rev Series 2023B, 5.5% 12/1/2042 (Assured Guaranty Inc Insured) (c) | 800000 | 862007 |
| Wayne Cnty Mich Arpt Auth Rev Series 2023B, 5.5% 12/1/2043 (Assured Guaranty Inc Insured) (c) | 675000 | 723113 |
| Wayne Cnty Mich Arpt Auth Rev Series 2025 A, 5.5% 12/1/2050  | 2000000 | 2157817 |
| Wayne Cnty Mich Arpt Auth Rev Series 2025 B, 5% 12/1/2029 (c) | 565000 | 610282 |
| Wayne Cnty Mich Arpt Auth Rev Series 2025 B, 5% 12/1/2030 (c) | 555000 | 608312 |
| Wayne Cnty Mich Arpt Auth Rev Series 2025 B, 5% 12/1/2031 (c) | 850000 | 940184 |
| Wayne Cnty Mich Arpt Auth Rev Series 2025 B, 5.5% 12/1/2041 (c) | 800000 | 887762 |
| Wayne Cnty Mich Arpt Auth Rev Series 2025 B, 5.5% 12/1/2043 (c) | 625000 | 681978 |
| Wayne Cnty Mich Arpt Auth Rev Series 2025 B, 5.75% 12/1/2050 (c) | 2650000 | 2881071 |
| Wayne Cnty Mich Arpt Auth Rev Series G, 5% 12/1/2036  | 5760000 | 5766641 |
|  |  | 70713536 |
| Water & Sewer - 6.1% |  |  |
| Detroit MI Sew Disp Rev (Great Lakes Sewer Auth Mich Proj.) 5% 7/1/2036 (National Public Finance Guarantee Corporation Insured)  | 10000 | 10019 |
| Detroit MI Sew Disp Rev (Great Lakes Sewer Auth Mich Proj.) 5.5% 7/1/2029 (Assured Guaranty Inc Insured)  | 20000 | 20858 |
| Downriver Util Wastewater Auth MI Swr Sys Rev Series 2018, 5% 4/1/2033 (Assured Guaranty Inc Insured)  | 735000 | 773201 |
| Downriver Util Wastewater Auth MI Swr Sys Rev Series 2018, 5% 4/1/2034 (Assured Guaranty Inc Insured)  | 520000 | 545497 |
| Downriver Util Wastewater Auth MI Swr Sys Rev Series 2018, 5% 4/1/2035 (Assured Guaranty Inc Insured)  | 500000 | 523356 |
| Grand Rapids MI San Swr Sys Series 2018, 5% 1/1/2034  | 550000 | 574577 |
| Grand Rapids MI San Swr Sys Series 2018, 5% 1/1/2038  | 655000 | 676423 |
| Grand Rapids MI Wtr Supply Sys Series 2016, 5% 1/1/2031  | 250000 | 251149 |
| Grand Rapids MI Wtr Supply Sys Series 2016, 5% 1/1/2032  | 320000 | 321334 |
| Grand Rapids MI Wtr Supply Sys Series 2016, 5% 1/1/2033  | 550000 | 552098 |
| Great Lakes Sewer Auth Mich Series 2025 C, 5.25% 7/1/2043  | 540000 | 582309 |
| Great Lakes Sewer Auth Mich Series 2025 C, 5.25% 7/1/2044  | 1700000 | 1819111 |
| Great Lakes Sewer Auth Mich Series B, 5% 7/1/2027  | 15000 | 15278 |
| Great Lakes Wtr Auth Mich Wtr Supply Sys Rev Series 2024B, 5% 7/1/2036  | 1500000 | 1678672 |
| Great Lakes Wtr Auth Mich Wtr Supply Sys Rev Series 2025 A, 5% 7/1/2029  | 1250000 | 1365906 |
| Great Lakes Wtr Auth Mich Wtr Supply Sys Rev Series 2025 A, 5% 7/1/2030  | 1400000 | 1561262 |
| Great Lakes Wtr Auth Mich Wtr Supply Sys Rev Series 2025 D, 5.25% 7/1/2043  | 3270000 | 3526207 |
| Great Lakes Wtr Auth Mich Wtr Supply Sys Rev Series 2025 D, 5.25% 7/1/2044  | 1365000 | 1460638 |
| Great Lakes Wtr Auth Mich Wtr Supply Sys Rev Series 2025 D, 5.25% 7/1/2045  | 4000000 | 4262348 |
| Great Lakes Wtr Auth Mich Wtr Supply Sys Rev Series 2025 D, 5.5% 7/1/2055  | 600000 | 642322 |
| Great Lakes Wtr Auth Mich Wtr Supply Sys Rev Series 2025C, 5% 7/1/2029  | 500000 | 546362 |
| Great Lakes Wtr Auth Mich Wtr Supply Sys Rev Series 2025C, 5% 7/1/2030  | 875000 | 975789 |
| Great Lakes Wtr Auth Mich Wtr Supply Sys Rev Series 2025C, 5.25% 7/1/2043  | 1500000 | 1614648 |
| Great Lakes Wtr Auth Mich Wtr Supply Sys Rev Series 2025C, 5.25% 7/1/2044  | 1040000 | 1113426 |
| Michigan Fin Auth Rev (MI St Clean Wtr Revolving Fnd Proj.) Series 2024A, 5% 10/1/2044  | 3000000 | 3209601 |
|  |  | 28622391 |
| TOTAL MICHIGAN |  | 436117018 |
| Puerto Rico - 1.0%  |  |  |
| General Obligations - 0.7% |  |  |
| Puerto Rico Comwlth Gen. Oblig. Series 2022 A 1, 0% 7/1/2033 (d) | 1643730 | 1173980 |
| Puerto Rico Comwlth Gen. Oblig. Series 2022 A 1, 5.625% 7/1/2029  | 595000 | 636507 |
| Puerto Rico Comwlth Gen. Oblig. Series 2022 A 1, 5.75% 7/1/2031  | 1410000 | 1562507 |
|  |  | 3372994 |
| Health Care - 0.3% |  |  |
| Puerto Rico Indl Tourist Edl Med & Environmental Ctl Facs Fing Auth Hosp Rev (Hosp Auxilio Mutou Oblig Grp Proj.) Series 2021, 4% 7/1/2036  | 195000 | 186513 |
| Puerto Rico Indl Tourist Edl Med & Environmental Ctl Facs Fing Auth Hosp Rev (Hosp Auxilio Mutou Oblig Grp Proj.) Series 2021, 5% 7/1/2030  | 845000 | 906056 |
| Puerto Rico Indl Tourist Edl Med & Environmental Ctl Facs Fing Auth Hosp Rev (Hosp Auxilio Mutou Oblig Grp Proj.) Series 2021, 5% 7/1/2032  | 360000 | 385662 |
|  |  | 1478231 |
| TOTAL PUERTO RICO |  | 4851225 |
| <br> **TOTAL MUNICIPAL SECURITIES**<br> (Cost $456,518,114) |  | <br> **445054866** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 3.5%** | &nbsp;&nbsp;**Money Market Funds - 3.5%** | &nbsp;&nbsp;**Money Market Funds - 3.5%** | &nbsp;&nbsp;**Money Market Funds - 3.5%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Municipal Cash Central Fund (e)(f)<br>(Cost $16,386,869)<br>| 3.29 | 16383593 | **16386869** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 98.6%**<br> (Cost $472,904,983)<br>| <br>**461441735** |
| **NET OTHER ASSETS (LIABILITIES) - 1.4%**  | **6461381** |
| **NET ASSETS - 100.0%** | **467903116** |

---

**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) Zero coupon bond which is issued at a discount.

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

(f) 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.

**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 | 9338870 | 114314369 | 107266370 | 366462 | - | - | 16386869 | 16383593 | 0.5% |
| Total | 9338870 | 114314369 | 107266370 | 366462 | - | - | 16386869 |  |  |

---

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 Michigan Municipal Income Fund

- **b. EDGAR series identifier (if any):** S000007129

- **c. LEI of Series:** Q560UQKIPJ1Q9COEKD40

**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:** $468439098.82

**Total Liabilities:** $1337163.61

**Net Assets:** $467101935.21

**Cash Not Reported:** $99999.55

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 24312.14255400 | **1-Year:** 72484.20796650 | **5-Year:** 120675.21714250 | **10-Year:** 95852.64013950 | **30-Year:** 16058.70981650

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

- **3-Month:** 1454.86045777 | **1-Year:** 4960.44273375 | **5-Year:** 4995.84735095 | **10-Year:** 1431.42370453 | **30-Year:** 104.58566000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000019503 | -0.28%               | 0.79%                | 2.37%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-13528.24               | $-2761705.68                               |
| Month 2  | $57270.00                | $2278845.18                                |
| Month 3  | $-142920.78              | $10046913.03                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| PORTAGE MICH                                                                   | PORTAGE MICH 2% 7/1/2037                                      | CUSIP: 735764HV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    810000 | PA      | $618863.98    | 0.13%             | 2037-07-01      | Fixed         | 0.02%                 | No            |                  2 | On Loan: No      |
| FERNDALE MICH PUB SCHS                                                         | FERNDALE MI PUB 3% 5/1/2045                                   | CUSIP: 315162EZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $789619.20    | 0.17%             | 2045-05-01      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FD LTD OBLIG REV                                         | MI STRAT FND 5% 11/15/2034                                    | CUSIP: 594698RC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $509961.75    | 0.11%             | 2034-11-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| KENTWOOD MICH ECONOMIC DEV                                                     | KENTWOOD MI ECO 4% 11/15/2045                                 | CUSIP: 491740EZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $404328.40    | 0.09%             | 2045-11-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| GERALD R FORD INTL ARPT AUTH MICH REV                                          | GERALD R FORD I 5% 1/1/2038 @                                 | CUSIP: 373695AU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1170000 | PA      | $1238837.54   | 0.27%             | 2038-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| SAGINAW MI HOSP FIN AUTH HOSP                                                  | SAGINAW HOSP 4% 7/1/2039                                      | CUSIP: 786744JE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1430000 | PA      | $1407847.44   | 0.30%             | 2039-07-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH RE                                                           | MICHIGAN FIN AU 4% 6/1/2035                                   | CUSIP: 59447TK93<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1984749.60   | 0.42%             | 2035-06-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| GRAND RAPIDS MI WTR SUPPLY SYS                                                 | GRAND RAPID WTR 5% 1/1/33                                     | CUSIP: 386316NA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $552098.03    | 0.12%             | 2033-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG DEV AUTH SINGLE FAMILY MTG REV                                 | MICHIGAN 3.75% MT                                             | CUSIP: 594654GD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1410000 | PA      | $1413971.97   | 0.30%             | 2050-06-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| GERALD R FORD INTL ARPT AUTH MICH REV                                          | GERALD R FORD I 5% 1/1/2046 @                                 | CUSIP: 373695AY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2028791.40   | 0.43%             | 2046-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| BERKLEY MICH SCH DIST                                                          | BERKLEY MI SCD 5% 5/1/2040                                    | CUSIP: 084482EB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    310000 | PA      | $341607.23    | 0.07%             | 2040-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| DETROIT MI                                                                     | DETROIT MI 5% 4/1/2037                                        | CUSIP: 2510934Y3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1875000 | PA      | $1976067.75   | 0.42%             | 2037-04-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GERALD R FORD INTL ARPT AUTH MICH REV                                          | GERALD R FORD I 5% 1/1/2026 @                                 | CUSIP: 373695AG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $226188.99    | 0.05%             | 2026-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG DEV AUTH SINGLE FAMILY MTG REV                                 | MICHIGAN MT(MI-WL 12/17/87) 3% 6/1/52                         | CUSIP: 594654NX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2140000 | PA      | $2114227.55   | 0.45%             | 2052-06-01      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MICH ARPT AUTH REV                                                  | WAYNE CO MI AAR 5.50% 12/1/2050                               | CUSIP: 944514S66<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2157816.80   | 0.46%             | 2050-12-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| DETROIT MI SEW DISP REV                                                        | DETROIT MI SWR/AGC/FGIC 5.5% 7/1/29                           | CUSIP: 2512373S0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20857.55     | 0.00%             | 2029-07-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| GRANDVILLE MICH PUB SCHS DIST                                                  | GRANDVILLE MICH 4% 5/1/2039                                   | CUSIP: 386892RP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001157.50   | 0.21%             | 2039-05-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH LTD OBLIG REV                                                | MI FIN AUTH LTD 4% 2/1/2032                                   | CUSIP: 594479HN0<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    285000 | PA      | $282750.72    | 0.06%             | 2032-02-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| GRAND TRAVERSE CNTY MI HOSP                                                    | GRAND TRAV HOSP 3% 7/1/2051                                   | CUSIP: 386523JJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2440000 | PA      | $1681766.83   | 0.36%             | 2051-07-01      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| BERKLEY MICH SCH DIST                                                          | BERKLEY MI SCD 5% 5/1/2040                                    | CUSIP: 084482DD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $384880.97    | 0.08%             | 2040-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH RE                                                           | MICHIGAN FIN AU(BEAUMONT-SPECTR) 4% 4/15/42                   | CUSIP: 59447T3V3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1925377.00   | 0.41%             | 2042-04-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH RE                                                           | MICHIGAN FIN AU 3% 12/1/2049                                  | CUSIP: 59447TXJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1416543.80   | 0.30%             | 2049-12-01      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| GRAND RAPIDS MI WTR SUPPLY SYS                                                 | GRAND RAPID WTR 5% 1/1/32                                     | CUSIP: 386316MZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $321333.57    | 0.07%             | 2032-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| DOWNRIVER UTIL WASTEWATER AUTHMICH SWR SYS REV                                 | DOWNRIVER UTIL 5% 4/1/2034                                    | CUSIP: 26111PAP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    520000 | PA      | $545497.00    | 0.12%             | 2034-04-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH RE                                                           | MICHIGAN FIN AU 5% 12/1/2030                                  | CUSIP: 59447TQJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    710000 | PA      | $744201.48    | 0.16%             | 2030-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| BIRMINGHAM CIY SCHOOL DISTRICT/MI                                              | BIRMINGHAM CIY 5% 5/1/2033                                    | CUSIP: 091212JB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $400277.96    | 0.09%             | 2033-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH RE                                                           | MICHIGAN FIN AU 5% 1/1/34                                     | CUSIP: 59447TNJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2135000 | PA      | $2144818.87   | 0.46%             | 2034-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH LTD OBLIG REV                                                | MI FIN AUTH LTD 5.25% 11/1/2035                               | CUSIP: 594479JG3<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1482711.44   | 0.32%             | 2035-11-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| SAGINAW MI HOSP FIN AUTH HOSP                                                  | SAGINAW HOSP 4% 7/1/2036                                      | CUSIP: 786744JB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    770000 | PA      | $777039.19    | 0.17%             | 2036-07-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| LANSING MICH BRD WTR and LT UTIL SYS REV                                       | LANSING MI WTR 5% 7/1/2054                                    | CUSIP: 516391FM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2080604.60   | 0.45%             | 2054-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| CRESTWOOD MICH SCH DIST                                                        | CREST MI 226363 5% 5/1/2045                                   | CUSIP: 226363HR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $419857.04    | 0.09%             | 2045-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES WTR AUTH MICH WTR SUPPLY SYS REV                                   | GREAT LAKES WTR 5% 7/1/2030                                   | CUSIP: 39081JHM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1561262.08   | 0.33%             | 2030-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES WTR AUTH MICH WTR SUPPLY SYS REV                                   | GREAT LAKES WTR 5% 7/1/2036                                   | CUSIP: 39081JHH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1678671.60   | 0.36%             | 2036-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| KALAMAZOO MI HFA HOSP FAC REV                                                  | KALAMAZOO HFA H 5% 5/15/2030 PRE                              | CUSIP: 483233QR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30418.85     | 0.01%             | 2030-05-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST UNIV REVS                                                          | MI ST UNIV 5.25% 8/15/54                                      | CUSIP: 594712ZH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3168682.50   | 0.68%             | 2054-08-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN HSG DEV RENTAL HSG                                                    | MI ST HDA RENTL 3.8% 10/1/2038                                | CUSIP: 59465M4K8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3965000 | PA      | $3868388.81   | 0.83%             | 2038-10-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| LANSING MICH BRD WTR and LT UTIL SYS REV                                       | LANSING MI WTR 2% MT                                          | CUSIP: 516391DV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1975505.00   | 0.42%             | 2051-07-01      | Variable      | 0.02%                 | No            |                  2 | On Loan: No      |
| BYRON CENTER MICH PUB SCHS                                                     | BYRON CENTER MI 5.25% 5/1/2053                                | CUSIP: 124511QZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3570000 | PA      | $3762873.18   | 0.81%             | 2053-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GERALD R FORD INTL ARPT AUTH MICH REV                                          | GERALD R FORD I 5% 1/1/2030 @                                 | CUSIP: 373695AL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $462147.76    | 0.10%             | 2030-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| KENT MI HOSP FIN AUTH                                                          | KENT MI HOSP (MARY FREE BED HOSP REHAB CTR) 4% 4/1/41         | CUSIP: 490580FN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2805000 | PA      | $2638484.82   | 0.56%             | 2041-04-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| KAREGNONDI WTR AUTH MICH                                                       | KAREGNONDI WTR 5% 11/1/2039                                   | CUSIP: 48563UCR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2459139.98   | 0.53%             | 2039-11-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PORTAGE MI PUB SCHS                                                            | PORTAGE MI PUB 4% 11/1/2042                                   | CUSIP: 735779NY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $945918.20    | 0.20%             | 2042-11-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| LANSING MICH SCH DIST                                                          | LANSING MICH SC 5% 5/1/2031                                   | CUSIP: 516444UL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    605000 | PA      | $679314.15    | 0.15%             | 2031-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG DEV AUTH SINGLE FAMILY MTG REV                                 | MICHIGAN MT 5.75% 6/1/2054                                    | CUSIP: 594654US2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1785000 | PA      | $1918299.34   | 0.41%             | 2054-06-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MICH ARPT AUTH REV                                                  | WAYNE CO MI AAR 5.50% 12/1/2043 @                             | CUSIP: 944514U55<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $681978.13    | 0.15%             | 2043-12-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| GRAND VALLEY MI ST UNIV REV                                                    | GRAND VLY MI UN 5% 12/1/2035                                  | CUSIP: 386545MP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1225000 | PA      | $1274309.31   | 0.27%             | 2035-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH RE                                                           | MICHIGAN FIN AU 5% 10/1/2044                                  | CUSIP: 59447T8A4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3209601.00   | 0.69%             | 2044-10-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NORTHERN MI UNIV REVS                                                          | NO MICH UN REVS 4% 6/1/2041                                   | CUSIP: 665398NQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1385000 | PA      | $1336538.43   | 0.29%             | 2041-06-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| PENNFIELD MICH SCHS DIST                                                       | PENNFIELD MI SC 3% 5/1/2051                                   | CUSIP: 708186KR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1160000 | PA      | $871961.68    | 0.19%             | 2051-05-01      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| PORTAGE MICH                                                                   | PORTAGE MICH 2% 7/1/2036                                      | CUSIP: 735764HU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    795000 | PA      | $626364.60    | 0.13%             | 2036-07-01      | Fixed         | 0.02%                 | No            |                  2 | On Loan: No      |
| NORTHERN MI UNIV REVS                                                          | NO MICH UN REVS 5% 6/1/2035                                   | CUSIP: 665398NJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $404998.69    | 0.09%             | 2035-06-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH LTD OBLIG REV                                                | MI FIN AUTH LTD 5% 11/1/2032                                  | CUSIP: 594479JD0<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1110000 | PA      | $1182399.31   | 0.25%             | 2032-11-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NORTHERN MI UNIV REVS                                                          | NO MICH UN REVS 5% 6/1/2034                                   | CUSIP: 665398NH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $407689.31    | 0.09%             | 2034-06-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| DETROIT MI                                                                     | DETROIT MI 5.50% 4/1/2036                                     | CUSIP: 2510934J6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    435000 | PA      | $466370.81    | 0.10%             | 2036-04-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| GERALD R FORD INTL ARPT AUTH MICH REV                                          | GERALD R FORD I 5% 1/1/2033 @                                 | CUSIP: 373695AP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1099915.60   | 0.24%             | 2033-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WAYNE ST UNIV MI UNIV REVS                                                     | WAYNE ST U MI 5.25% 11/15/2055                                | CUSIP: 946303M35<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1039375.80   | 0.22%             | 2055-11-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MARQUETTE MI LT and PWR ELEC UTIL                                              | MARQUETTE LTPWR 5% 7/1/29                                     | CUSIP: 571498CR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    780000 | PA      | $791340.89    | 0.17%             | 2029-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WARREN MI CSD                                                                  | WARREN MI CSD 5% 5/1/2037                                     | CUSIP: 935341S73<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3105000 | PA      | $3521582.01   | 0.75%             | 2037-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| BERKLEY MICH SCH DIST                                                          | BERKLEY MI SCD 5% 5/1/2039                                    | CUSIP: 084482DC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $720340.92    | 0.15%             | 2039-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| BRIGHTON MI AREA SCHOOL DIST                                                   | BRIGHTON MI SD 3% 5/1/2036                                    | CUSIP: 109367VP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1122938.21   | 0.24%             | 2036-05-01      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FD LTD OBLIG REV                                         | MI STRAT FND 5% 12/31/2026 @                                  | CUSIP: 594698QA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    490000 | PA      | $499161.04    | 0.11%             | 2026-12-31      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GERALD R FORD INTL ARPT AUTH MICH REV                                          | GERALD R FORD I 5% 1/1/2041 @                                 | CUSIP: 373695AX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1139013.81   | 0.24%             | 2041-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NORTHERN MI UNIV REVS                                                          | NO MICH UN REVS 5% 6/1/2032                                   | CUSIP: 665398NF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $412704.23    | 0.09%             | 2032-06-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NORTHERN MI UNIV REVS                                                          | NO MICH UN REVS 4% 6/1/2040                                   | CUSIP: 665398NP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $489134.60    | 0.10%             | 2040-06-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MICH ARPT AUTH REV                                                  | WAYNE CO MI AAR 5% 12/1/2035 @                                | CUSIP: 944514E38<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1225000 | PA      | $1311350.86   | 0.28%             | 2035-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| BIRMINGHAM CIY SCHOOL DISTRICT/MI                                              | BIRMINGHAM CIY 5% 5/1/2034                                    | CUSIP: 091212JC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $481869.55    | 0.10%             | 2034-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GRAND RAPIDS MI SAN SWR SYS                                                    | GRAND RAPID SWR 5% 1/1/2038                                   | CUSIP: 386289LY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    655000 | PA      | $676422.56    | 0.14%             | 2038-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES WTR AUTH MICH WTR SUPPLY SYS REV                                   | GREAT LAKES WTR 5.25% 7/1/2044                                | CUSIP: 39081JJP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1040000 | PA      | $1113426.18   | 0.24%             | 2044-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN HSG DEV RENTAL HSG                                                    | MI ST HDA RENTL 3.6% 10/1/2060                                | CUSIP: 59465M6P5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2067828.75   | 0.44%             | 2060-10-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MICH ARPT AUTH REV                                                  | WAYNE CO MI AAR 5% 12/1/2031 @                                | CUSIP: 944514S90<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $940183.90    | 0.20%             | 2031-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WAYNE ST UNIV MI UNIV REVS                                                     | WAYNE ST U MI 4% 11/15/2040                                   | CUSIP: 946303G40<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1495482.90   | 0.32%             | 2040-11-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| LANSING MICH SCH DIST                                                          | LANSING MICH SC 5% 5/1/2037                                   | CUSIP: 516444US3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1112485.90   | 0.24%             | 2037-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GERALD R FORD INTL ARPT AUTH MICH REV                                          | GERALD R FORD I 5% 1/1/2031 @                                 | CUSIP: 373695AM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $799048.82    | 0.17%             | 2031-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH LTD OBLIG REV                                                | MI FIN AUTH LTD 4% 12/1/2047                                  | CUSIP: 594479EF0<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   2610000 | PA      | $2324987.22   | 0.50%             | 2047-12-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| DETROIT MI                                                                     | DETROIT MI 5% 4/1/2039                                        | CUSIP: 2510935A4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1210000 | PA      | $1258440.78   | 0.27%             | 2039-04-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH RE                                                           | MICHIGAN FIN AU 5% 1/1/32                                     | CUSIP: 59447TNG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1895000 | PA      | $1904822.54   | 0.41%             | 2032-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GERALD R FORD INTL ARPT AUTH MICH REV                                          | GERALD R FORD I 5% 1/1/2040 @                                 | CUSIP: 373695AW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1042856.00   | 0.22%             | 2040-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PORTAGE MI PUB SCHS                                                            | PORTAGE MI PUB 5% 11/1/2034                                   | CUSIP: 735779NA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1261213.50   | 0.27%             | 2034-11-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MICH ARPT AUTH REV                                                  | WAYNE CO MI AAR 5% 12/1/2030 @                                | CUSIP: 944514ZX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5865000 | PA      | $6193069.92   | 1.33%             | 2030-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MICH ARPT AUTH REV                                                  | WAYNE CO MI AAR 5% 12/1/2032 @                                | CUSIP: 944514ZZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2945000 | PA      | $3078833.46   | 0.66%             | 2032-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GERALD R FORD INTL ARPT AUTH MICH REV                                          | GERALD R FORD I 5% 1/1/2039 @                                 | CUSIP: 373695AV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1051428.60   | 0.23%             | 2039-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| YPSILANTI MICH SCH DIST                                                        | YPSILANTI MI SD 5% 5/1/32                                     | CUSIP: 987864NU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2019214.80   | 0.43%             | 2032-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN TECHNOLOGICAL UNIV                                                    | MICH TECH UNIV 4% 10/1/2046                                   | CUSIP: 594746PY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2835000 | PA      | $2569334.13   | 0.55%             | 2046-10-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG DEV AUTH RENTHSG REV                                           | MICHIGAN ST HS 2.125% 10/1/2036                               | CUSIP: 59465PAV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1775000 | PA      | $1426568.39   | 0.31%             | 2036-10-01      | Fixed         | 0.02%                 | No            |                  2 | On Loan: No      |
| WOODHAVEN BROWNSTOWN MI SD                                                     | WOODHAVEN BROWN 3% 11/1/2046                                  | CUSIP: 97942NGK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $769691.40    | 0.16%             | 2046-11-01      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FD LTD OBLIG REV                                         | MI STRAT FND 5% 12/31/2043 @                                  | CUSIP: 594698QT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4004971.20   | 0.86%             | 2043-12-31      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG DEV AUTH RENTHSG REV                                           | MICHIGAN ST HS 2.45% 10/1/2046                                | CUSIP: 59465PAX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1354395.80   | 0.29%             | 2046-10-01      | Fixed         | 0.02%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES SEWER AUTH MICH                                                    | GT LAKES WTR MI 5% 7/1/2027                                   | CUSIP: 39081HAD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $15278.36     | 0.00%             | 2027-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| CHARLES STEWART MOTT CMNTY COLLEGE DIST MI                                     | CHARLES STEWART 2.125% 5/1/2034                               | CUSIP: 15987EHR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $695993.35    | 0.15%             | 2034-05-01      | Fixed         | 0.02%                 | No            |                  2 | On Loan: No      |
| WESTERN MI UNIV REVS                                                           | WESTRN MI UNIV 5% 11/15/2031                                  | CUSIP: 958638XP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $166971.36    | 0.04%             | 2031-11-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG DEV AUTH SINGLE FAMILY MTG REV                                 | MICHIGAN MT 3.50% 12/1/2050                                   | CUSIP: 594654JK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1975000 | PA      | $1974017.04   | 0.42%             | 2050-12-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH RE                                                           | MICHIGAN FIN AU 4% 6/1/2049                                   | CUSIP: 59447TL76<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7250000 | PA      | $6138601.83   | 1.31%             | 2049-06-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| COUNTY OF GENESEE MI WATER SUPPLY SYSTEM REVENUE                               | COUNTY OF GENES 5% 11/1/2038                                  | CUSIP: 371646AP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $880539.04    | 0.19%             | 2038-11-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MICH ARPT AUTH REV                                                  | WAYNE CO MI AAR 5% 12/1/2046 @                                | CUSIP: 944514F29<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1280000 | PA      | $1293448.70   | 0.28%             | 2046-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| LINCOLN MI CONS SCH DIST                                                       | LINCOLN MI CSD 5% 5/1/2032                                    | CUSIP: 533883MZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009607.40   | 0.22%             | 2032-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FD LTD OBLIG REV                                         | MI STRAT FND 5% 6/30/2029 @                                   | CUSIP: 594698QF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $36802.73     | 0.01%             | 2029-06-30      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FD LTD OBLIG REV                                         | MI STRAT FND 4.25% 12/31/2038@                                | CUSIP: 594698QS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5840000 | PA      | $5772041.67   | 1.24%             | 2038-12-31      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FD LTD OBLIG REV                                         | MI STRAT FND 5% 12/31/2032 @                                  | CUSIP: 594698QN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1875000 | PA      | $1950111.56   | 0.42%             | 2032-12-31      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES WTR AUTH MICH WTR SUPPLY SYS REV                                   | GREAT LAKES WTR 5.25% 7/1/2045                                | CUSIP: 39081JKM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4262347.20   | 0.91%             | 2045-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| CHIPPEWA VALLEY MI SCHS                                                        | CHIPPEWA MI SD 5% 5/1/34                                      | CUSIP: 170016ZT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1075000 | PA      | $1076977.25   | 0.23%             | 2034-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| DETROIT MI                                                                     | DETROIT MI 5.50% 4/1/2038                                     | CUSIP: 2510934L1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    490000 | PA      | $519886.52    | 0.11%             | 2038-04-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FD LTD OBLIG REV                                         | MI STRAT FND 5% 6/30/2031 @                                   | CUSIP: 594698QK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $554289.16    | 0.12%             | 2031-06-30      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| DETROIT MI DOWNTOWN DEV AUTH TAX                                               | DETROIT DWNTWN 5% 7/1/2048                                    | CUSIP: 251135HU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    890000 | PA      | $919667.08    | 0.20%             | 2048-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES WTR AUTH MICH WTR SUPPLY SYS REV                                   | GREAT LAKES WTR 5.25% 7/1/2043                                | CUSIP: 39081JJN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1614647.70   | 0.35%             | 2043-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| BERKLEY MICH SCH DIST                                                          | BERKLEY MI SCD 4% 5/1/2031                                    | CUSIP: 084482DS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    535000 | PA      | $571662.32    | 0.12%             | 2031-05-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MACOMB INTERCEPTOR DRAIN DRAINAGE DISTRICT                                     | MACOMB INTERCEP 5% 5/1/2034                                   | CUSIP: 55539PCN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1803109.53   | 0.39%             | 2034-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| CLARKSTON MI CMNTY SCHS                                                        | CLARKSTON MI SD 5.25% 5/1/2050                                | CUSIP: 182252ZP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2108421.80   | 0.45%             | 2050-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FD LTD OBLIG REV                                         | MI STRAT FND 5% 6/30/2033 @                                   | CUSIP: 594698QP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2415000 | PA      | $2506912.00   | 0.54%             | 2033-06-30      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WOODHAVEN BROWNSTOWN MI SD                                                     | WOODHAVEN BROWN 5% 5/1/2055                                   | CUSIP: 97942NHQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1033940.00   | 0.22%             | 2055-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH RE                                                           | MICHIGAN FIN AU 4% 6/1/2037                                   | CUSIP: 59447TL35<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1933585.20   | 0.41%             | 2037-06-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH LTD OBLIG REV                                                | MI FIN AUTH LTD 5% 11/1/2037                                  | CUSIP: 594479JJ7<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2043920.80   | 0.44%             | 2037-11-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| LINCOLN MI CONS SCH DIST                                                       | LINCOLN MI CSD 5% 5/1/2031                                    | CUSIP: 533883MY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $505238.30    | 0.11%             | 2031-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| BERKLEY MICH SCH DIST                                                          | BERKLEY MI SCD 5% 5/1/2037                                    | CUSIP: 084482DA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1075000 | PA      | $1213425.49   | 0.26%             | 2037-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| UTICA MI CMNTY SCHS                                                            | UTICA MI CSD 5% 5/1/2039                                      | CUSIP: 9176612L3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1368788.75   | 0.29%             | 2039-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST BLDG AUTH REV                                                      | MI BLDG 5.25% 4/15/2059                                       | CUSIP: 594615MP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3159042.90   | 0.68%             | 2059-04-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MIDLAND CNTY MICH WTR SUPPLY SYS LEE TWP                                       | MIDLAND CNTY MI 3% 9/1/2048                                   | CUSIP: 59748CAN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    695000 | PA      | $547416.61    | 0.12%             | 2048-09-01      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MICH ARPT AUTH REV                                                  | WAYNE CO MI AAR 5.50% 12/1/2043 @                             | CUSIP: 944514K98<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $723113.33    | 0.15%             | 2043-12-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| KALAMAZOO CNTY MICH                                                            | KALAM MI 2% 5/1/2037                                          | CUSIP: 483195ZR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2495000 | PA      | $1940750.72   | 0.42%             | 2037-05-01      | Fixed         | 0.02%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH RE                                                           | MICHIGAN FIN AU 5% 6/1/2040                                   | CUSIP: 59447TG80<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3041355.00   | 0.65%             | 2040-06-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG DEV AUTH RENTHSG REV                                           | MICHIGAN ST HS 2.55% 10/1/2051                                | CUSIP: 59465PAY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2095000 | PA      | $1354040.40   | 0.29%             | 2051-10-01      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG DEV AUTH SINGLE FAMILY MTG REV                                 | MICHIGAN MT(MI-WL 12/17/87) 5.5% 6/1/53                       | CUSIP: 594654SG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1975000 | PA      | $2090615.12   | 0.45%             | 2053-06-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| BERKLEY MICH SCH DIST                                                          | BERKLEY MI SCD 5% 5/1/2038                                    | CUSIP: 084482DB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $642625.98    | 0.14%             | 2038-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| BERKLEY MICH SCH DIST                                                          | BERKLEY MI SCD 5% 5/1/2033                                    | CUSIP: 084482CW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $575501.25    | 0.12%             | 2033-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| BERKLEY MICH SCH DIST                                                          | BERKLEY MI SCD 5% 5/1/2031                                    | CUSIP: 084482CU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $507518.19    | 0.11%             | 2031-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| BERKLEY MICH SCH DIST                                                          | BERKLEY MI SCD 4% 5/1/2033                                    | CUSIP: 084482DU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $224768.96    | 0.05%             | 2033-05-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| DETROIT MI                                                                     | DETROIT MI 5.50% 4/1/2037                                     | CUSIP: 2510934K3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    465000 | PA      | $495998.43    | 0.11%             | 2037-04-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| NORTHERN MI UNIV REVS                                                          | NO MICH UN REVS 4% 6/1/2039                                   | CUSIP: 665398NN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $893820.69    | 0.19%             | 2039-06-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| GUAM POWER AUTH.                                                               | GUAM POWER AUTH 5% 10/1/2044 Q                                | CUSIP: 400653KK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020087.10   | 0.22%             | 2044-10-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| LANSING MICH SCH DIST                                                          | LANSING MICH SC 5% 5/1/2036                                   | CUSIP: 516444UR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    755000 | PA      | $849884.17    | 0.18%             | 2036-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GERALD R FORD INTL ARPT AUTH MICH REV                                          | GERALD R FORD I 5% 1/1/2029 @                                 | CUSIP: 373695AK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $561787.01    | 0.12%             | 2029-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH ACT 38 FACSSR REV                                            | MICHIGAN FIN 5.25% 2/29/2040                                  | CUSIP: 59447NAX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $646267.26    | 0.14%             | 2040-02-29      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WAYNE ST UNIV MI UNIV REVS                                                     | WAYNE ST U MI 5% 11/15/2036                                   | CUSIP: 946303J54<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1351767.12   | 0.29%             | 2036-11-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MARQUETTE MI LT and PWR ELEC UTIL                                              | MARQUETTE LTPWR 5% 7/1/31                                     | CUSIP: 571498CT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    780000 | PA      | $790642.55    | 0.17%             | 2031-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| BIRMINGHAM CIY SCHOOL DISTRICT/MI                                              | BIRMINGHAM CIY 5% 5/1/2035                                    | CUSIP: 091212JD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $506014.70    | 0.11%             | 2035-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                                            | PR ST 5.75% 7/1/2031                                          | CUSIP: 74514L3J4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1410000 | PA      | $1562507.15   | 0.33%             | 2031-07-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| WAYNE ST UNIV MI UNIV REVS                                                     | WAYNE ST U MI 4% 11/15/2039                                   | CUSIP: 946303G32<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2012099.60   | 0.43%             | 2039-11-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| WESTERN MI UNIV REVS                                                           | WESTRN MI UNIV 5% 11/15/2038                                  | CUSIP: 958638XW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $665304.38    | 0.14%             | 2038-11-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES SEWER AUTH MICH                                                    | GT LAKES SEW MI 5.25% 7/1/2043                                | CUSIP: 39081HHL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    540000 | PA      | $582309.49    | 0.12%             | 2043-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH RE                                                           | MICHIGAN FIN AU 5% 1/1/31                                     | CUSIP: 59447TNF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1170000 | PA      | $1176450.33   | 0.25%             | 2031-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GRAND VALLEY MI ST UNIV REV                                                    | GRAND VLY MI UN 5% 12/1/2037                                  | CUSIP: 386545MR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1418498.26   | 0.30%             | 2037-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| FARMINGTON MICH PUB SCH DIST                                                   | FARMINGTON PUBI 4% 5/1/2040                                   | CUSIP: 311261UU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2965393.80   | 0.63%             | 2040-05-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| HOLLAND MI SCH DIST                                                            | HOLLAND MICH 4% 11/1/2040                                     | CUSIP: 435236LN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1915000 | PA      | $1903077.98   | 0.41%             | 2040-11-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| BIRMINGHAM CIY SCHOOL DISTRICT/MI                                              | BIRMINGHAM CIY 5% 5/1/2038                                    | CUSIP: 091212JG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $657894.36    | 0.14%             | 2038-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GERALD R FORD INTL ARPT AUTH MICH REV                                          | GERALD R FORD I 5% 1/1/2049 @                                 | CUSIP: 373695CE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3040000 | PA      | $3078393.98   | 0.66%             | 2049-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| KALAMAZOO CNTY MICH                                                            | KALAM MI 2% 5/1/2038                                          | CUSIP: 483195ZS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1660000 | PA      | $1249736.31   | 0.27%             | 2038-05-01      | Fixed         | 0.02%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH RE                                                           | MICHIGAN FIN AU 4% 2/15/2044                                  | CUSIP: 59447TVA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4140000 | PA      | $3784457.63   | 0.81%             | 2044-02-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST BLDG AUTH REV                                                      | MI BLDG 5% 10/15/2037                                         | CUSIP: 594615LJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2215692.60   | 0.47%             | 2037-10-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GROSSE POINTE MI PUB SCH SYS                                                   | GROSSE PT PSS 3% 5/1/2033                                     | CUSIP: 399100LM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $974637.90    | 0.21%             | 2033-05-01      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| ORION CHARTER TWP MICH                                                         | ORION MI 2% 4/1/2034                                          | CUSIP: 686269CB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    795000 | PA      | $665141.92    | 0.14%             | 2034-04-01      | Fixed         | 0.02%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MICH ARPT AUTH REV                                                  | WAYNE CO MI AAR 5% 12/1/2037                                  | CUSIP: 944514VH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    545000 | PA      | $557579.36    | 0.12%             | 2037-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT WTRWKS AUTH WTR and WST                                              | GUAM GVT WTSW 5.25% 7/1/2040                                  | CUSIP: 40065FFC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1105000 | PA      | $1184265.19   | 0.25%             | 2040-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GERALD R FORD INTL ARPT AUTH MICH REV                                          | GERALD R FORD I 5% 1/1/2034 @                                 | CUSIP: 373695AQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1089484.80   | 0.23%             | 2034-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FD LTD OBLIG REV                                         | MI STRAT FND 1.45% 9/1/2030                                   | CUSIP: 594698SQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1779765.60   | 0.38%             | 2030-09-01      | Fixed         | 0.01%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MICH ARPT AUTH REV                                                  | WAYNE CO MI AAR 5.50% 12/1/2039 @                             | CUSIP: 944514K56<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    635000 | PA      | $700425.26    | 0.15%             | 2039-12-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST                                                                    | MI ST 4% 5/15/2040                                            | CUSIP: 594612ER0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $503774.35    | 0.11%             | 2040-05-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FD LTD OBLIG REV                                         | MI STRAT FND 5% 12/31/2031 @                                  | CUSIP: 594698QL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3210000 | PA      | $3351094.59   | 0.72%             | 2031-12-31      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| SAGINAW MI HOSP FIN AUTH HOSP                                                  | SAGINAW HOSP 4% 7/1/2040                                      | CUSIP: 786744JF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    490000 | PA      | $476525.83    | 0.10%             | 2040-07-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| FERRIS ST UNIV MICH REV                                                        | FERRIS ST UNIV 5% 10/1/2044                                   | CUSIP: 315361MW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1010000 | PA      | $1057376.68   | 0.23%             | 2044-10-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NORTHERN MI UNIV REVS                                                          | NO MICH UN REVS 5% 6/1/2033                                   | CUSIP: 665398NG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $399236.45    | 0.09%             | 2033-06-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MICH ARPT AUTH REV                                                  | WAYNE CO MI AAR 5.50% 12/1/2042 @                             | CUSIP: 944514K80<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $862006.88    | 0.18%             | 2042-12-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| GERALD R FORD INTL ARPT AUTH MICH REV                                          | GERALD R FORD I 5% 1/1/2037 @                                 | CUSIP: 373695AT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $746542.23    | 0.16%             | 2037-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| CHIPPEWA VALLEY MI SCHS                                                        | CHIPPEWA MI SD 5% 5/1/32                                      | CUSIP: 170016ZR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001839.30   | 0.21%             | 2032-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NORTHERN MI UNIV REVS                                                          | NO MICH UN REVS 4% 6/1/2046                                   | CUSIP: 665398NR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1850000 | PA      | $1667523.22   | 0.36%             | 2046-06-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| BARRY CNTY MICH                                                                | BARRY MI 068815 2% 3/1/2037                                   | CUSIP: 068815QL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $202080.27    | 0.04%             | 2037-03-01      | Fixed         | 0.02%                 | No            |                  2 | On Loan: No      |
| DETROIT MI                                                                     | DETROIT MI 6% 5/1/2043                                        | CUSIP: 2510936E5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1632699.45   | 0.35%             | 2043-05-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH RE                                                           | MICHIGAN FIN AU 5% 11/15/2048                                 | CUSIP: 59447TUH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11850000 | PA      | $11882285.33  | 2.54%             | 2048-11-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MICH ARPT AUTH REV                                                  | WAYNE CO MI AAR 5.75% 12/1/2050 @                             | CUSIP: 944514U89<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2650000 | PA      | $2881071.26   | 0.62%             | 2050-12-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MICH ARPT AUTH REV                                                  | WAYNE CO MI AAR 5.50% 12/1/2041 @                             | CUSIP: 944514U30<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $887761.84    | 0.19%             | 2041-12-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| BERKLEY MICH SCH DIST                                                          | BERKLEY MI SCD 5% 5/1/2036                                    | CUSIP: 084482CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    540000 | PA      | $614674.71    | 0.13%             | 2036-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MICH ARPT AUTH REV                                                  | WAYNE CO MI AAR 5% 12/1/2030 @                                | CUSIP: 944514P44<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1270000 | PA      | $1391994.17   | 0.30%             | 2030-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO INDL TOURIST EDL MED and ENVIRONMENTAL CTL FACS FING AUTH HOSP REV | PR AFICA HOSP 4% 7/1/2036                                     | CUSIP: 74527EFS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    195000 | PA      | $186513.44    | 0.04%             | 2036-07-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FD LTD OBLIG REV                                         | MI STRAT FND MT 3.875% 6/1/2053 @                             | CUSIP: 594698TD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7000000 | PA      | $6859134.80   | 1.47%             | 2053-06-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| GRAND RAPIDS MI PUB SCHS                                                       | GRAND RAPIDS MI 5% 5/1/29                                     | CUSIP: 386280QV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    480000 | PA      | $496600.08    | 0.11%             | 2029-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MARQUETTE MI LT and PWR ELEC UTIL                                              | MARQUETTE LTPWR 5% 7/1/33                                     | CUSIP: 571498CV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    705000 | PA      | $713726.70    | 0.15%             | 2033-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| LANSING MICH SCH DIST                                                          | LANSING MICH SC 5% 5/1/2032                                   | CUSIP: 516444UM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    580000 | PA      | $658049.96    | 0.14%             | 2032-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST BLDG AUTH REV                                                      | MI BLDG 3% 10/15/2045                                         | CUSIP: 594615HK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8670000 | PA      | $7030542.02   | 1.51%             | 2045-10-15      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| BERKLEY MICH SCH DIST                                                          | BERKLEY MI SCD 5% 5/1/2030                                    | CUSIP: 084482CT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $416143.69    | 0.09%             | 2030-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FD LTD OBLIG REV                                         | MI STRAT FND 5% 12/31/2025 @                                  | CUSIP: 594698PY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2207105.78   | 0.47%             | 2025-12-31      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WARREN MI CSD                                                                  | WARREN MI CSD 5% 5/1/2035                                     | CUSIP: 935341G27<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1258832.00   | 0.27%             | 2035-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MICH ARPT AUTH REV                                                  | WAYNE CO MI AAR 5.25% 12/1/2037 @                             | CUSIP: 944514Q35<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $985780.26    | 0.21%             | 2037-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WARREN MICH                                                                    | WARREN MICHIGAN 5% 6/1/2039                                   | CUSIP: 935325DW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1310000 | PA      | $1423975.37   | 0.30%             | 2039-06-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES WTR AUTH MICH WTR SUPPLY SYS REV                                   | GREAT LAKES WTR 5.50% 7/1/2055                                | CUSIP: 39081JKP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $642322.20    | 0.14%             | 2055-07-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| WESTERN MI UNIV REVS                                                           | WESTRN MI UNIV 5% 11/15/2032                                  | CUSIP: 958638XQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $331876.23    | 0.07%             | 2032-11-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WARREN MI CSD                                                                  | WARREN MI CSD 5% 5/1/2032                                     | CUSIP: 935341J73<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1160932.85   | 0.25%             | 2032-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| BERKLEY MICH SCH DIST                                                          | BERKLEY MI SCD 5% 5/1/2041                                    | CUSIP: 084482DE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    775000 | PA      | $840618.09    | 0.18%             | 2041-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WYANDOTTE MICH CITY SCH DIST                                                   | WYANDOTTE MICH 5% 5/1/2040                                    | CUSIP: 982781JW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $328308.78    | 0.07%             | 2040-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST UNIV REVS                                                          | MI ST UNIV 5.25% 2/15/2050                                    | CUSIP: 594712C66<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2150000 | PA      | $2289497.59   | 0.49%             | 2050-02-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH RE                                                           | MICHIGAN FIN AU 5% 11/1/2036                                  | CUSIP: 59447TSJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1301123.75   | 0.28%             | 2036-11-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH RE                                                           | MICHIGAN FIN AU 5% 11/1/2038                                  | CUSIP: 59447TSL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1595000 | PA      | $1646102.21   | 0.35%             | 2038-11-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FD LTD OBLIG REV                                         | MI STRAT FND 4% 5/15/2027                                     | CUSIP: 594698RQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $274909.86    | 0.06%             | 2027-05-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG DEV AUTH SINGLE FAMILY MTG REV                                 | MICHIGAN MT 3% 6/1/2051                                       | CUSIP: 594654LR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1820000 | PA      | $1801562.13   | 0.39%             | 2051-06-01      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES WTR AUTH MICH WTR SUPPLY SYS REV                                   | GREAT LAKES WTR 5.25% 7/1/2044                                | CUSIP: 39081JKL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1365000 | PA      | $1460638.45   | 0.31%             | 2044-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT WTRWKS AUTH WTR and WST                                              | GUAM GVT WTSW 5.50% 7/1/2043                                  | CUSIP: 40065FFF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $802964.03    | 0.17%             | 2043-07-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| MARQUETTE MI LT and PWR ELEC UTIL                                              | MARQUETTE LTPWR 5% 7/1/30                                     | CUSIP: 571498CS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $912749.76    | 0.20%             | 2030-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| COUNTY OF GENESEE MI WATER SUPPLY SYSTEM REVENUE                               | COUNTY OF GENESEE MI WATER SUPPLY SYSTEM REVENUE 5% 11/1/2037 | CUSIP: 371646AN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1107782.90   | 0.24%             | 2037-11-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH RE                                                           | MICHIGAN FIN AU 4% 11/1/2055                                  | CUSIP: 59447TP72<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2214041.25   | 0.47%             | 2055-11-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MICH ARPT AUTH REV                                                  | WAYNE CO MI AAR 5% 12/1/2031 AMT                              | CUSIP: 944514RM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    860000 | PA      | $861059.00    | 0.18%             | 2031-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES SEWER AUTH MICH                                                    | GT LAKES SEW MI 5.25% 7/1/2044                                | CUSIP: 39081HHM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1819110.16   | 0.39%             | 2044-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MICH ARPT AUTH REV                                                  | WAYNE CO MI AAR 5.25% 12/1/2037 @                             | CUSIP: 944514K31<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1095311.40   | 0.23%             | 2037-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| DOWNRIVER UTIL WASTEWATER AUTHMICH SWR SYS REV                                 | DOWNRIVER UTIL 5% 4/1/2035                                    | CUSIP: 26111PAQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $523355.80    | 0.11%             | 2035-04-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GRAND RAPIDS MI SAN SWR SYS                                                    | GRAND RAPID SWR 5% 1/1/2034                                   | CUSIP: 386289LU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $574577.47    | 0.12%             | 2034-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PORTAGE MI PUB SCHS                                                            | PORTAGE MI PUB 5% 11/1/2032                                   | CUSIP: 735779MS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2526481.50   | 0.54%             | 2032-11-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WYANDOTTE MICH CITY SCH DIST                                                   | WYANDOTTE MICH 5% 5/1/2041                                    | CUSIP: 982781JX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $406222.28    | 0.09%             | 2041-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH LTD OBLIG REV                                                | MI FIN AUTH LTD 5% 9/1/2038                                   | CUSIP: 594479GE1<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1270000 | PA      | $1326737.89   | 0.28%             | 2038-09-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| FLINT MI HOSP BLDG AUTH REV                                                    | FLINT MI BLDG 4% 7/1/2038                                     | CUSIP: 339511EX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1731142.98   | 0.37%             | 2038-07-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MICHIGAN HSG DEV RENTAL HSG                                                    | MI ST HDA RENTL 3.35% 10/1/2049                               | CUSIP: 59465M6M2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2436526.80   | 0.52%             | 2049-10-01      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MICH ARPT AUTH REV                                                  | WAYNE CO MI AAR 5.50% 12/1/2041 @                             | CUSIP: 944514K72<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1685000 | PA      | $1830807.60   | 0.39%             | 2041-12-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| GRAND VALLEY MI ST UNIV REV                                                    | GRAND VLY MI UN 5% 12/1/2034                                  | CUSIP: 386545MN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1075000 | PA      | $1122454.37   | 0.24%             | 2034-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MICH ARPT AUTH REV                                                  | WAYNE CO MI AAR 5% 12/1/2036                                  | CUSIP: 944514UF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5760000 | PA      | $5766639.55   | 1.23%             | 2036-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| KENTWOOD MICH ECONOMIC DEV                                                     | KENTWOOD MI ECO 4% 11/15/2031 Q                               | CUSIP: 491740FA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    920000 | PA      | $912658.22    | 0.20%             | 2031-11-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG DEV AUTH SINGLE FAMILY MTG REV                                 | MICHIGAN MT 4% 12/1/2048                                      | CUSIP: 594654CM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    410000 | PA      | $411474.52    | 0.09%             | 2048-12-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| Fidelity Revere Street Trust                                                   | Fidelity Municipal Cash Central Fund                          | CUSIP: 31635A204<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |  16383593 | NS      | $16386869.41  | 3.51%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTERN MI UNIV REVS                                                           | WESTRN MI UNIV/AGM 5.25% 11/15/54                             | CUSIP: 958638B64<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1048880.60   | 0.22%             | 2054-11-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FD LTD OBLIG REV                                         | MI STRAT FND 5% 12/31/2028 @                                  | CUSIP: 594698QE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    440000 | PA      | $463139.07    | 0.10%             | 2028-12-31      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| DETROIT MI                                                                     | DETROIT MI 5% 5/1/2039                                        | CUSIP: 2510936V7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3700000 | PA      | $3914787.22   | 0.84%             | 2039-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG DEV AUTH SINGLE FAMILY MTG REV                                 | MICHIGAN MT 5% 6/1/2053                                       | CUSIP: 594654RG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1765000 | PA      | $1843587.51   | 0.39%             | 2053-06-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH LTD OBLIG REV                                                | MI FIN AUTH LTD 5% 11/1/2033                                  | CUSIP: 594479JE8<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1327280.75   | 0.28%             | 2033-11-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| LANSING MICH                                                                   | LANSING MICH 4% 6/1/2040                                      | CUSIP: 516372TW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4810000 | PA      | $4732708.59   | 1.01%             | 2040-06-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| GROSSE POINTE PARK MICH                                                        | GROSS MI 2.375% 10/1/2039                                     | CUSIP: 399136CF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    510000 | PA      | $394097.55    | 0.08%             | 2039-10-01      | Fixed         | 0.02%                 | No            |                  2 | On Loan: No      |
| LANSING MICH SCH DIST                                                          | LANSING MICH SC 5% 5/1/2038                                   | CUSIP: 516444UT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1545957.98   | 0.33%             | 2038-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| FERRIS ST UNIV MICH REV                                                        | FERRIS ST UNIV 5% 10/1/2043                                   | CUSIP: 315361MV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1715000 | PA      | $1802741.80   | 0.39%             | 2043-10-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MICH ARPT AUTH REV                                                  | WAYNE CO MI AAR 5% 12/1/2029                                  | CUSIP: 944514S74<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    565000 | PA      | $610281.87    | 0.13%             | 2029-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG DEV AUTH SINGLE FAMILY MTG REV                                 | MICHIGAN MT 6% 6/1/2054                                       | CUSIP: 594654WT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2410000 | PA      | $2617465.33   | 0.56%             | 2054-06-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FD LTD OBLIG REV                                         | MI STRAT FND 5% 5/15/2044                                     | CUSIP: 594698RS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1429434.00   | 0.31%             | 2044-05-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MICH ARPT AUTH REV                                                  | WAYNE CO MI AAR 5% 12/1/2031 @                                | CUSIP: 944514ZY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2825000 | PA      | $2964162.33   | 0.63%             | 2031-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| SAGINAW CNTY MI                                                                | SAGANAW CNTY MI 3% 12/1/2040                                  | CUSIP: 7867027J3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $429451.75    | 0.09%             | 2040-12-01      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| MICHIGAN HSG DEV RENTAL HSG                                                    | MI ST HDA RENTL 3.75% 10/1/2042                               | CUSIP: 59465M3J2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1880179.00   | 0.40%             | 2042-10-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH ACT 38 FACSSR REV                                            | MICHIGAN FIN 5% 2/28/2038                                     | CUSIP: 59447NAV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1849998.14   | 0.40%             | 2038-02-28      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FD LTD OBLIG REV                                         | MI STRAT FND 5% 12/31/2030 @                                  | CUSIP: 594698QJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4080000 | PA      | $4274327.14   | 0.92%             | 2030-12-31      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MATTAWAN CONSOLIDATED SCHOOL DISTRICT/MI                                       | MATTAWAN CONSOL 5% 5/1/2054                                   | CUSIP: 577056MR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1033928.10   | 0.22%             | 2054-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| KENTWOOD MICH ECONOMIC DEV                                                     | KENTWOOD MI ECO 4% 11/15/2043 Q                               | CUSIP: 491740FB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $1872277.20   | 0.40%             | 2043-11-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| LANSE CREUSE MICH PUB SCH                                                      | LANSE CREUSE 5% 5/1/2049                                      | CUSIP: 516228TM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2868033.03   | 0.61%             | 2049-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES WTR AUTH MICH WTR SUPPLY SYS REV                                   | GREAT LAKES WTR 5% 7/1/2029                                   | CUSIP: 39081JHY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $546362.40    | 0.12%             | 2029-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PORTAGE MICH                                                                   | PORTAGE MICH 2% 7/1/2035                                      | CUSIP: 735764HT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    780000 | PA      | $634383.28    | 0.14%             | 2035-07-01      | Fixed         | 0.02%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG DEV AUTH SINGLE FAMILY MTG REV                                 | MICHIGAN MT 3.80% 12/1/2033                                   | CUSIP: 594654TD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1490000 | PA      | $1525595.65   | 0.33%             | 2033-12-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH RE                                                           | MICHIGAN FIN AU 1.20% MT                                      | CUSIP: 59447TU68<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4190000 | PA      | $3980249.86   | 0.85%             | 2038-10-15      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO INDL TOURIST EDL MED and ENVIRONMENTAL CTL FACS FING AUTH HOSP REV | PR AFICA HOSP 5% 7/1/2032                                     | CUSIP: 74527EFN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    360000 | PA      | $385661.95    | 0.08%             | 2032-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GRANDVILLE MICH PUB SCHS DIST                                                  | GRANDVILLE MICH 4% 5/1/2040                                   | CUSIP: 386892RQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1305066.62   | 0.28%             | 2040-05-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| DETROIT MI SEW DISP REV                                                        | DETROIT MI SWR 5% NATL 7/1/2036                               | CUSIP: 2512377P2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $10019.44     | 0.00%             | 2036-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH RE                                                           | MICHIGAN FIN AU 5% 11/15/2029                                 | CUSIP: 59447TME0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4950000 | PA      | $5071136.40   | 1.09%             | 2029-11-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| DOWNRIVER UTIL WASTEWATER AUTHMICH SWR SYS REV                                 | DOWNRIVER UTIL 5% 4/1/2033                                    | CUSIP: 26111PAN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    735000 | PA      | $773201.26    | 0.17%             | 2033-04-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH LTD OBLIG REV                                                | MI FIN AUTH LTD 3% 9/1/2050                                   | CUSIP: 594479GK7<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   2320000 | PA      | $1594233.24   | 0.34%             | 2050-09-01      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| KALAMAZOO MI HFA HOSP FAC REV                                                  | KALAMAZOO HFA H 5% 5/15/2030                                  | CUSIP: 483233RF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4970000 | PA      | $5032857.08   | 1.08%             | 2030-05-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH RE                                                           | MICHIGAN FIN AU 5% 1/1/33                                     | CUSIP: 59447TNH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1915000 | PA      | $1924382.35   | 0.41%             | 2033-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH LTD OBLIG REV                                                | MI FIN AUTH LTD 4% 2/1/2042                                   | CUSIP: 594479HP5<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1120000 | PA      | $949470.03    | 0.20%             | 2042-02-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                                            | PR ST 0% 7/1/2033                                             | CUSIP: 74514L3R6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1643730 | PA      | $1173980.07   | 0.25%             | 2033-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| KALAMAZOO MI HFA HOSP FAC REV                                                  | KALAMAZOO HFA H 5% 5/15/2028 PRE                              | CUSIP: 483233QP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5069.81      | 0.00%             | 2028-05-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MICH ARPT AUTH REV                                                  | WAYNE CO MI AAR 5% 12/1/2030 @                                | CUSIP: 944514S82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    555000 | PA      | $608312.41    | 0.13%             | 2030-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG DEV AUTH SINGLE FAMILY MTG REV                                 | MICHIGAN MT 4.25% 6/1/2049                                    | CUSIP: 594654DQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1040000 | PA      | $1048033.79   | 0.22%             | 2049-06-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES WTR AUTH MICH WTR SUPPLY SYS REV                                   | GREAT LAKES WTR 5% 7/1/2029                                   | CUSIP: 39081JHL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1365906.00   | 0.29%             | 2029-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES WTR AUTH MICH WTR SUPPLY SYS REV                                   | GREAT LAKES WTR 5.25% 7/1/2043                                | CUSIP: 39081JKK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3270000 | PA      | $3526207.44   | 0.75%             | 2043-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NORTHERN MI UNIV REVS                                                          | NO MICH UN REVS 5% 6/1/2036                                   | CUSIP: 665398NK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $427975.52    | 0.09%             | 2036-06-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH RE                                                           | MICHIGAN FIN AU 5% 11/1/2035                                  | CUSIP: 59447TSH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1044565.40   | 0.22%             | 2035-11-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| DETROIT MI                                                                     | DETROIT MI 5% 5/1/2038                                        | CUSIP: 2510936U9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3520000 | PA      | $3755630.91   | 0.80%             | 2038-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH RE                                                           | MICHIGAN FIN AU 4% 12/1/2049                                  | CUSIP: 59447TXH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8180000 | PA      | $7169647.30   | 1.53%             | 2049-12-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MICH ARPT AUTH REV                                                  | WAYNE CO MI AAR 5% 12/1/2029 AMT                              | CUSIP: 944514RK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    720000 | PA      | $721096.49    | 0.15%             | 2029-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| FLINT MI HOSP BLDG AUTH REV                                                    | FLINT MI BLDG 4% 7/1/2041                                     | CUSIP: 339511EY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1395000 | PA      | $1297456.86   | 0.28%             | 2041-07-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH RE                                                           | MICHIGAN FIN AU 4% 6/1/2040                                   | CUSIP: 59447TL68<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1849721.40   | 0.40%             | 2040-06-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES WTR AUTH MICH WTR SUPPLY SYS REV                                   | GREAT LAKES WTR 5% 7/1/2030                                   | CUSIP: 39081JHZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $975788.80    | 0.21%             | 2030-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH LTD OBLIG REV                                                | MI FIN AUTH LTD 4% 12/1/2036                                  | CUSIP: 594479EB9<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    690000 | PA      | $694820.41    | 0.15%             | 2036-12-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FD LTD OBLIG REV                                         | MI STRAT FND 5% 12/31/2033 @                                  | CUSIP: 594698QQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2072273.20   | 0.44%             | 2033-12-31      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH ACT 38 FACSSR REV                                            | MICHIGAN FIN 5% 2/28/2039                                     | CUSIP: 59447NAW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1078553.70   | 0.23%             | 2039-02-28      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| FERRIS ST UNIV MICH REV                                                        | FERRIS ST UNIV 5% 10/1/2049                                   | CUSIP: 315361MY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2086037.00   | 0.45%             | 2049-10-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH RE                                                           | MICHIGAN FIN AU 5% 11/15/2030                                 | CUSIP: 59447TMF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4545000 | PA      | $4652512.88   | 1.00%             | 2030-11-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| KALAMAZOO CNTY MICH                                                            | KALAM MI 3% 5/1/2030                                          | CUSIP: 483195ZJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1690000 | PA      | $1711410.78   | 0.37%             | 2030-05-01      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MICH ARPT AUTH REV                                                  | WAYNE CO MI AAR 5% 12/1/2038                                  | CUSIP: 944514C22<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1335952.25   | 0.29%             | 2038-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FD LTD OBLIG REV                                         | MI STRAT FND 4% MT@                                           | CUSIP: 594698SR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4997301.50   | 1.07%             | 2061-10-01      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH RE                                                           | MICHIGAN FIN AU 5% 11/15/2028                                 | CUSIP: 59447TMD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2655000 | PA      | $2721135.78   | 0.58%             | 2028-11-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| FERRIS ST UNIV MICH REV                                                        | FERRIS ST UNIV 5% 10/1/2045                                   | CUSIP: 315361MX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $836578.72    | 0.18%             | 2045-10-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| BERKLEY MICH SCH DIST                                                          | BERKLEY MI SCD 5% 5/1/2032                                    | CUSIP: 084482CV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $456413.04    | 0.10%             | 2032-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG DEV AUTH SINGLE FAMILY MTG REV                                 | MICHIGAN MT 6.25% 12/1/2055                                   | CUSIP: 594654C94<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2229954.00   | 0.48%             | 2055-12-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| MARQUETTE MI LT and PWR ELEC UTIL                                              | MARQUETTE LTPWR 5% 7/1/32                                     | CUSIP: 571498CU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1013197.20   | 0.22%             | 2032-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT WTRWKS AUTH WTR and WST                                              | GUAM GVT WTSW 5.25% 7/1/2039                                  | CUSIP: 40065FFB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1079306.90   | 0.23%             | 2039-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FD LTD OBLIG REV                                         | MI STRAT FND 1.35% 8/1/2029                                   | CUSIP: 594698SP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1823316.20   | 0.39%             | 2029-08-01      | Fixed         | 0.01%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH LTD OBLIG REV                                                | MI FIN AUTH LTD 4% 2/1/2027                                   | CUSIP: 594479HM2<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    100000 | PA      | $99927.43     | 0.02%             | 2027-02-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST BLDG AUTH REV                                                      | MI BLDG 3% 10/15/2051                                         | CUSIP: 594615JZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1770000 | PA      | $1331190.98   | 0.28%             | 2051-10-15      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| GRAND RAPIDS MI WTR SUPPLY SYS                                                 | GRAND RAPID WTR 5% 1/1/31                                     | CUSIP: 386316MY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $251149.03    | 0.05%             | 2031-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MICH ARPT AUTH REV                                                  | WAYNE CO MI AAR 5.25% 12/1/2038 @                             | CUSIP: 944514K49<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $977009.31    | 0.21%             | 2038-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH RE                                                           | MICHIGAN FIN AU(MCLAREN HLTHCRE) 4% 2/15/50                   | CUSIP: 59447TVE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6530000 | PA      | $5659295.02   | 1.21%             | 2050-02-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| WESTERN MI UNIV REVS                                                           | WESTRN MI UNIV 5% 11/15/2040                                  | CUSIP: 958638XY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    635000 | PA      | $668980.88    | 0.14%             | 2040-11-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| DETROIT MI                                                                     | DETROIT MI 5.50% 4/1/2035                                     | CUSIP: 2510934H0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1040000 | PA      | $1121295.66   | 0.24%             | 2035-04-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| HOLLAND MI SCH DIST                                                            | HOLLAND MICH 4% 11/1/2039                                     | CUSIP: 435236LM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1855000 | PA      | $1860861.80   | 0.40%             | 2039-11-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| WESTERN MI UNIV REVS                                                           | WESTRN MI UNIV 5% 11/15/2036                                  | CUSIP: 958638XU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $430825.40    | 0.09%             | 2036-11-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GRAND RAPIDS MI                                                                | GRAND RPDS MICH 5% 4/1/2055                                   | CUSIP: 386226P73<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2058146.40   | 0.44%             | 2055-04-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO INDL TOURIST EDL MED and ENVIRONMENTAL CTL FACS FING AUTH HOSP REV | PR AFICA HOSP 5% 7/1/2030                                     | CUSIP: 74527EFL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    845000 | PA      | $906056.07    | 0.19%             | 2030-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| BIRMINGHAM CIY SCHOOL DISTRICT/MI                                              | BIRMINGHAM CIY 5% 5/1/2036                                    | CUSIP: 091212JE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $334206.39    | 0.07%             | 2036-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WAYNE ST UNIV MI UNIV REVS                                                     | WAYNE ST U MI 5% 11/15/2035                                   | CUSIP: 946303J47<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1136843.40   | 0.24%             | 2035-11-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| GERALD R FORD INTL ARPT AUTH MICH REV                                          | GERALD R FORD I 5% 1/1/2032 @                                 | CUSIP: 373695AN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $804587.09    | 0.17%             | 2032-01-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| BIRMINGHAM CIY SCHOOL DISTRICT/MI                                              | BIRMINGHAM CIY 5% 5/1/2037                                    | CUSIP: 091212JF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $309577.83    | 0.07%             | 2037-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MICH ARPT AUTH REV                                                  | WAYNE CO MI AAR 5% 12/1/2037 @                                | CUSIP: 944514E53<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1520000 | PA      | $1604261.05   | 0.34%             | 2037-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                                            | PR ST 5.625% 7/1/2029                                         | CUSIP: 74514L3H8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    595000 | PA      | $636506.72    | 0.14%             | 2029-07-01      | Fixed         | 0.06%                 | 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