# EDGAR Filing Document

**Accession Number:** 0000916620
**File Stem:** 0002066578-26-001931
**Filing Date:** 2026-5
**Character Count:** 250001
**Document Hash:** 07aebfebd502826a75d0a0e4662e3a47
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002066578-26-001931.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0002066578-26-001931

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NORTHERN FUNDS
- **CENTRAL INDEX KEY:** 0000916620

**ORGANIZATION NAME:**
- **EIN:** 391777365
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08236
- **FILM NUMBER:** 261034976

**BUSINESS ADDRESS:**
- **STREET 1:** NORTHERN FUNDS
- **STREET 2:** 50 SOUTH LASALLE STREET
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60603
- **BUSINESS PHONE:** 800-595-9111

**MAIL ADDRESS:**
- **STREET 1:** NORTHERN FUNDS
- **STREET 2:** 50 SOUTH LASALLE STREET
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60603

## Series and Classes Contracts Data

### TAX-ADVANTAGED ULTRA-SHORT FIXED INCOME FUND (Series ID: S000025873)

| Class ID   | Class Name                                   | Ticker Symbol   |
|:---|:---|:---|
| C000077367 | TAX-ADVANTAGED ULTRA-SHORT FIXED INCOME FUND | NTAUX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Northern Funds

- **b. Investment Company Act file number:** 811-08236

- **c. CIK number of Registrant:** 0000916620

- **d. LEI of Registrant:** 5493004ZY1PEJR3C0A81

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

  - **Street Address 1:** 50 South LaSalle Street

  - **City:** Chicago

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60603

  - **Telephone number:** 800-595-9111

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

- **a. Name of Series:** Tax-Advantaged Ultra-Short Fixed Income Fund

- **b. EDGAR series identifier (if any):** S000025873

- **c. LEI of Series:** 5493005B469YICS80F51

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

- **a. Date of fiscal year-end:** 2026-03-31

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $2959942765.52

**Total Liabilities:** $30007845.17

**Net Assets:** $2929934920.35

**Delayed Delivery Securities:** $28067233.75

**Cash Not Reported:** $18087.39

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 30757.029672046398 | **1-Year:** 257676.023663794925 | **5-Year:** 102982.243650436142 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

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

- **3-Month:** 2807.286286761365 | **1-Year:** 9108.533536881299 | **5-Year:** 2171.914791695223 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000077367 | 0.54%                | 0.32%                | -0.34%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $42073.71                | $7176770.19                                |
| Month 2  | $737906.99               | $3859785.79                                |
| Month 3  | $1203072.69              | $-19889651.41                              |

**Designated Index Information**

- **Index Name:** 75% MLMUN6-12M / 25% MLMUN13YGO

- **Index Identifier:** MMUN1Y75GO

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| DISTRICT OF COLUMBIA VAR                      | DISTRICT OF COLUMBIA VAR                      | CUSIP: 25477PPQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5005718.50   | 0.17%             | 2040-09-01      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN. AUTHO 5.00%                     | MICHIGAN FIN. AUTHO 5.00%                     | CUSIP: 59447TMD2<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   2785000 | PA      | $2819481.92   | 0.10%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY PUBLIC ENERG VAR                     | KENTUCKY PUBLIC ENERG VAR                     | CUSIP: 74440DCM4<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |  19150000 | PA      | $19325264.63  | 0.66%             | 2050-02-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| TENNERGY CORP/TN VAR                          | TENNERGY CORP/TN VAR                          | CUSIP: 880397BW3<br>LEI: 5493008K3JJFBSC4C235 | Long             | DBT              | MUN               | US        |  17805000 | PA      | $17979661.71  | 0.61%             | 2051-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SEATTLE WA MU FRN                     | CITY OF SEATTLE WA MU FRN                     | CUSIP: 812643WU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7520000 | PA      | $7480189.87   | 0.26%             | 2045-05-01      | Floating      | 2.67%                 | No            |                  2 | On Loan: No      |
| MISSOURI PUBLIC UTI 4.00%                     | MISSOURI PUBLIC UTI 4.00%                     | CUSIP: 606374AT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11980000 | PA      | $11993966.28  | 0.41%             | 2026-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN GOV. NAS VAR                     | METROPOLITAN GOV. NAS VAR                     | CUSIP: 592113CE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6900000 | PA      | $6907405.08   | 0.24%             | 2044-06-01      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS VAR                     | BLACK BELT ENERGY GAS VAR                     | CUSIP: 09182TAM9<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   9800000 | PA      | $9858739.24   | 0.34%             | 2052-10-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| CITY OF PLANO TX 5.00%                        | CITY OF PLANO TX 5.00%                        | CUSIP: 727177ZF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3362200.08   | 0.11%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN GOV. N 3.35%                     | METROPOLITAN GOV. N 3.35%                     | CUSIP: 592113CA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1700000.00   | 0.06%             | 2026-04-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| KANE COUNTY SCHOOL 5.00%                      | KANE COUNTY SCHOOL 5.00%                      | CUSIP: 484008MW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3920000 | PA      | $4060556.30   | 0.14%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN. AUTHORIT FRN                     | INDIANA FIN. AUTHORIT FRN                     | CUSIP: 45506EDH3<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   5975000 | PA      | $5954572.07   | 0.20%             | 2039-03-01      | Floating      | 2.72%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL G VAR                     | MAIN STREET NATURAL G VAR                     | CUSIP: 56035DDH2<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    300000 | PA      | $303494.52    | 0.01%             | 2052-07-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| MAINE MUNICIPAL BD. 5.00%                     | MAINE MUNICIPAL BD. 5.00%                     | CUSIP: 56045SBA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2150000 | PA      | $2232649.66   | 0.08%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF PENSACOLA F 5.00%                     | CITY OF PENSACOLA F 5.00%                     | CUSIP: 709427EL8<br>LEI: 549300Y7HMDKHDFTZ042 | Long             | DBT              | MUN               | US        |    890000 | PA      | $916633.43    | 0.03%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALEXANDRIA REDEVELOPM VAR                     | ALEXANDRIA REDEVELOPM VAR                     | CUSIP: 015330FC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3635000 | PA      | $3637892.01   | 0.12%             | 2054-12-01      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| KANE COUNTY SCHOOL 5.00%                      | KANE COUNTY SCHOOL 5.00%                      | CUSIP: 484008MX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $378082.88    | 0.01%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PEFA INC VAR                                  | PEFA INC VAR                                  | CUSIP: 70556CAB0<br>LEI: 549300RSE249DJNRHY07 | Long             | DBT              | MUN               | US        |  11645000 | PA      | $11732817.27  | 0.40%             | 2049-09-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY STATE PROP 5.00%                     | KENTUCKY STATE PROP 5.00%                     | CUSIP: 49151F5X4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2630000 | PA      | $2718561.31   | 0.09%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA MUNICIPAL G VAR                     | MINNESOTA MUNICIPAL G VAR                     | CUSIP: 60406UAM9<br>LEI: 549300SISI6N1C6S3136 | Long             | DBT              | MUN               | US        |   5875000 | PA      | $5950526.65   | 0.20%             | 2052-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| STATE OF ILLINOIS 5.00%                       | STATE OF ILLINOIS 5.00%                       | CUSIP: 4521522K6<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1134709.18   | 0.04%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA HOUSING FIN. VAR                      | FLORIDA HOUSING FIN. VAR                      | CUSIP: 34074HHV7<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |   2505000 | PA      | $2508700.14   | 0.09%             | 2029-12-01      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| OAK RIDGE HOUSING AUT VAR                     | OAK RIDGE HOUSING AUT VAR                     | CUSIP: 67178HAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4485000 | PA      | $4488647.65   | 0.15%             | 2044-12-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY VAR                      | CALIFORNIA COMMUNITY VAR                      | CUSIP: 13013JCS3<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2614370.75   | 0.09%             | 2054-05-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| COUNTY OF EL PASO T 5.00%                     | COUNTY OF EL PASO T 5.00%                     | CUSIP: 2834975X9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4034856.00   | 0.14%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY HEALTH C 5.00%                     | NEW JERSEY HEALTH C 5.00%                     | CUSIP: 64579XEC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2305000 | PA      | $2385031.67   | 0.08%             | 2027-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA MUNICIPAL P 5.00%                     | FLORIDA MUNICIPAL P 5.00%                     | CUSIP: 342816U29<br>LEI: 549300M3I10QJUPNU131 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1372662.59   | 0.05%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SHREVEPORT 5.00%                      | CITY OF SHREVEPORT 5.00%                      | CUSIP: 825485XV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    775000 | PA      | $799713.98    | 0.03%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN. AUTHO 2.60%                     | ILLINOIS FIN. AUTHO 2.60%                     | CUSIP: 45203UAN3<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   6920000 | PA      | $6920241.51   | 0.24%             | 2026-04-07      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| ALABAMA HOUSING FIN. VAR                      | ALABAMA HOUSING FIN. VAR                      | CUSIP: 01030PHE9<br>LEI: 549300VFN7EHPOFS7D76 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1201824.96   | 0.04%             | 2029-07-01      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| ILLINOIS HOUSING DEV. VAR                     | ILLINOIS HOUSING DEV. VAR                     | CUSIP: 45203LEK5<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |   3100000 | PA      | $3086949.93   | 0.11%             | 2028-08-01      | Variable      | 2.80%                 | No            |                  2 | On Loan: No      |
| TEXAS STATE AFFORDA 2.80%                     | TEXAS STATE AFFORDA 2.80%                     | CUSIP: 88271FFN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1198652.64   | 0.04%             | 2027-02-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| NORTH TEXAS MUNICIP 5.00%                     | NORTH TEXAS MUNICIP 5.00%                     | CUSIP: 662903G80<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3450000 | PA      | $3569104.70   | 0.12%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN. AUTHO 5.00%                     | MICHIGAN FIN. AUTHO 5.00%                     | CUSIP: 59447UAB6<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   7220000 | PA      | $7273680.70   | 0.25%             | 2026-07-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BOROUGH OF NORTH SL 5.00%                     | BOROUGH OF NORTH SL 5.00%                     | CUSIP: 662523X61<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6312168.60   | 0.22%             | 2028-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TULSA COUNTY INDL. 5.00%                      | TULSA COUNTY INDL. 5.00%                      | CUSIP: 89952PHY4<br>LEI: 549300WEYXBXLGN1E271 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1365114.92   | 0.05%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HEALTH & 5.00%                      | WISCONSIN HEALTH & 5.00%                      | CUSIP: 97712JPT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1042113.00   | 0.04%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNIT 5.00%                     | CALIFORNIA COMMUNIT 5.00%                     | CUSIP: 13013JCT1<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023538.70   | 0.03%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF EL PASO T 5.00%                     | COUNTY OF EL PASO T 5.00%                     | CUSIP: 2834975Z4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1275000 | PA      | $1286110.35   | 0.04%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF ESSEX NJ 4.00%                      | COUNTY OF ESSEX NJ 4.00%                      | CUSIP: 2968044U8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12305000 | PA      | $12351197.89  | 0.42%             | 2026-07-08      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN. AUTHO 5.00%                     | MICHIGAN FIN. AUTHO 5.00%                     | CUSIP: 59447UAC4<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   7060000 | PA      | $7124310.95   | 0.24%             | 2026-08-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAVANNAH HOUSING AUTH VAR                     | SAVANNAH HOUSING AUTH VAR                     | CUSIP: 804837BR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3115000 | PA      | $3118682.24   | 0.11%             | 2043-07-01      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| TULSA COUNTY INDL. 5.00%                      | TULSA COUNTY INDL. 5.00%                      | CUSIP: 89952PHW8<br>LEI: 549300WEYXBXLGN1E271 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1513191.60   | 0.05%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TULSA COUNTY INDL. 5.00%                      | TULSA COUNTY INDL. 5.00%                      | CUSIP: 89952PHX6<br>LEI: 549300WEYXBXLGN1E271 | Long             | DBT              | MUN               | US        |    550000 | PA      | $566021.67    | 0.02%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LUBBOCK HOUSING FIN. VAR                      | LUBBOCK HOUSING FIN. VAR                      | CUSIP: 549211BE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1491165.60   | 0.05%             | 2029-03-01      | Variable      | 2.80%                 | No            |                  2 | On Loan: No      |
| PLATTE COUNTY R-III 6.25%                     | PLATTE COUNTY R-III 6.25%                     | CUSIP: 727717KN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2960000 | PA      | $3056519.98   | 0.10%             | 2027-03-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| COUNTY OF SEMINOLE 5.00%                      | COUNTY OF SEMINOLE 5.00%                      | CUSIP: 816705KK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $724496.64    | 0.02%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF ATLANTA GA 5.00%                      | CITY OF ATLANTA GA 5.00%                      | CUSIP: 04780MS26<br>LEI: 549300GHLQ0J51NUBM84 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2611631.75   | 0.09%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS HOUSING DEV. VAR                     | ILLINOIS HOUSING DEV. VAR                     | CUSIP: 45203LFU2<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2202973.08   | 0.08%             | 2029-07-01      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| RALEIGH HOUSING AUTHO VAR                     | RALEIGH HOUSING AUTHO VAR                     | CUSIP: 751115CC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3450000 | PA      | $3458590.16   | 0.12%             | 2044-01-01      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MEDI 5.00%                     | NORTH CAROLINA MEDI 5.00%                     | CUSIP: 65821DZC8<br>LEI: SYIJ9BNVFR17R33OPQ57 | Long             | DBT              | MUN               | US        |   3055000 | PA      | $3066867.45   | 0.10%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF PHILADELPHI 5.00%                     | CITY OF PHILADELPHI 5.00%                     | CUSIP: 717813C31<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |   2725000 | PA      | $2869780.07   | 0.10%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY STATE PROP 5.00%                     | KENTUCKY STATE PROP 5.00%                     | CUSIP: 49151F6V7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3617857.25   | 0.12%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS HOUSING DEV. VAR                     | ILLINOIS HOUSING DEV. VAR                     | CUSIP: 45203LFT5<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1502397.15   | 0.05%             | 2029-08-01      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| ALABAMA HIGHWAY AUT 5.00%                     | ALABAMA HIGHWAY AUT 5.00%                     | CUSIP: 010559AC6<br>LEI: 549300TKZX0YNENZC895 | Long             | DBT              | MUN               | US        |   6170000 | PA      | $6522021.33   | 0.22%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF ILLINOIS 5.00%                       | STATE OF ILLINOIS 5.00%                       | CUSIP: 452152Q61<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |  12435000 | PA      | $12592394.77  | 0.43%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER COLORADO RIVE 5.00%                     | LOWER COLORADO RIVE 5.00%                     | CUSIP: 54811GQ29<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |   2800000 | PA      | $2808112.44   | 0.10%             | 2026-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SPRING HILL 4.00%                     | CITY OF SPRING HILL 4.00%                     | CUSIP: 849658UK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9990000 | PA      | $10036715.24  | 0.34%             | 2027-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HIGHER 5.00%                     | PENNSYLVANIA HIGHER 5.00%                     | CUSIP: 70917TTF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2240000 | PA      | $2260097.73   | 0.08%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF QUINCY MA 5.00%                       | CITY OF QUINCY MA 5.00%                       | CUSIP: 748508Y93<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11890000 | PA      | $11970695.05  | 0.41%             | 2026-07-24      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SPRING BRANCH INDEP 5.00%                     | SPRING BRANCH INDEP 5.00%                     | CUSIP: 849476WW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4315000 | PA      | $4507520.63   | 0.15%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW ORLEANS AVIATIO 5.00%                     | NEW ORLEANS AVIATIO 5.00%                     | CUSIP: 64763HLY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5225000 | PA      | $5304415.30   | 0.18%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY STATE PROP 5.00%                     | KENTUCKY STATE PROP 5.00%                     | CUSIP: 49151F6W5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11600000 | PA      | $12247844.92  | 0.42%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SHREVEPORT 5.00%                      | CITY OF SHREVEPORT 5.00%                      | CUSIP: 825485XW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1421453.07   | 0.05%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HEALTH & 5.00%                      | WISCONSIN HEALTH & 5.00%                      | CUSIP: 97712JPR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $576961.15    | 0.02%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SALT LAKE C 5.00%                     | CITY OF SALT LAKE C 5.00%                     | CUSIP: 795576GY7<br>LEI: 549300CRGKV67DRSGT85 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2347469.10   | 0.08%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF MILWAUKEE W 5.00%                     | CITY OF MILWAUKEE W 5.00%                     | CUSIP: 602366H33<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8440000 | PA      | $8805504.33   | 0.30%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER COLORADO RIVE 5.00%                     | LOWER COLORADO RIVE 5.00%                     | CUSIP: 54811GQ45<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |   1565000 | PA      | $1636345.69   | 0.06%             | 2028-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF RHODE ISLA 5.00%                     | STATE OF RHODE ISLA 5.00%                     | CUSIP: 762223RF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1040000 | PA      | $1048493.99   | 0.04%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MEDI 5.00%                     | NORTH CAROLINA MEDI 5.00%                     | CUSIP: 65821DZD6<br>LEI: SYIJ9BNVFR17R33OPQ57 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1796516.93   | 0.06%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER COLORADO RIVE 5.00%                     | LOWER COLORADO RIVE 5.00%                     | CUSIP: 54811GQ37<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2155431.60   | 0.07%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF PEARLAND TX 5.00%                     | CITY OF PEARLAND TX 5.00%                     | CUSIP: 704865ZA5<br>LEI: 549300UYAWZP0LF3EF82 | Long             | DBT              | MUN               | US        |   2605000 | PA      | $2721332.27   | 0.09%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HENNEPIN COUNTY HOUSI VAR                     | HENNEPIN COUNTY HOUSI VAR                     | CUSIP: 42552RAN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4505822.10   | 0.15%             | 2046-02-01      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND COUNTY M 5.00%                     | CUMBERLAND COUNTY M 5.00%                     | CUSIP: 230614TN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    395000 | PA      | $402173.32    | 0.01%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND COUNTY M 5.00%                     | CUMBERLAND COUNTY M 5.00%                     | CUSIP: 230614TM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    295000 | PA      | $295762.28    | 0.01%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA HOUSIN VAR                     | NORTH CAROLINA HOUSIN VAR                     | CUSIP: 65821BAP0<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7006248.90   | 0.24%             | 2030-02-01      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| GREATER ORLANDO AVI 5.00%                     | GREATER ORLANDO AVI 5.00%                     | CUSIP: 392274Y91<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |   5045000 | PA      | $5198973.40   | 0.18%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SALT LAKE C 5.00%                     | CITY OF SALT LAKE C 5.00%                     | CUSIP: 795576LK1<br>LEI: 549300CRGKV67DRSGT85 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1564979.40   | 0.05%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF RHODE ISLA 5.00%                     | STATE OF RHODE ISLA 5.00%                     | CUSIP: 762223RG2<br>LEI: 5493001B4TX233UP4J06 | Long             | DBT              | MUN               | US        |   1210000 | PA      | $1248565.85   | 0.04%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MEDI 5.00%                     | NORTH CAROLINA MEDI 5.00%                     | CUSIP: 65821DZE4<br>LEI: SYIJ9BNVFR17R33OPQ57 | Long             | DBT              | MUN               | US        |   2115000 | PA      | $2218975.09   | 0.08%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF REDMOND OR 5.00%                      | CITY OF REDMOND OR 5.00%                      | CUSIP: 757657YY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1039144.30   | 0.04%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RICHMOND REDEVELOPMEN VAR                     | RICHMOND REDEVELOPMEN VAR                     | CUSIP: 76543PBC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000068.60   | 0.07%             | 2055-12-01      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HEALTH & 5.00%                      | WISCONSIN HEALTH & 5.00%                      | CUSIP: 97712JPS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1220000 | PA      | $1248884.72   | 0.04%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND COUNTY M 5.00%                     | CUMBERLAND COUNTY M 5.00%                     | CUSIP: 230614TP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $428263.36    | 0.01%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SPARTA AREA SCHOOLS 5.00%                     | SPARTA AREA SCHOOLS 5.00%                     | CUSIP: 846625NX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    390000 | PA      | $415832.90    | 0.01%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENTON INDEPENDENT 5.00%                      | DENTON INDEPENDENT 5.00%                      | CUSIP: 249002NQ5<br>LEI: 5493005I9W678SUI0Z07 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5282988.50   | 0.18%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA HOUSING FIN. VAR                      | FLORIDA HOUSING FIN. VAR                      | CUSIP: 34073JVF3<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $5990460.00   | 0.20%             | 2043-03-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS DEV. 5.00%                      | MASSACHUSETTS DEV. 5.00%                      | CUSIP: 57585BNJ3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1440138.00   | 0.05%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MID-BAY BRIDGE AUTH 5.00%                     | MID-BAY BRIDGE AUTH 5.00%                     | CUSIP: 342814EE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3145000 | PA      | $3301321.91   | 0.11%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AKRON BATH COPLEY J 5.00%                     | AKRON BATH COPLEY J 5.00%                     | CUSIP: 009730QE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1825000 | PA      | $1890863.52   | 0.06%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS LOCAL 5.00%                      | INDIANAPOLIS LOCAL 5.00%                      | CUSIP: 45528UD81<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   6325000 | PA      | $6545146.05   | 0.22%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DECATUR TOWNSHIP MU 5.00%                     | DECATUR TOWNSHIP MU 5.00%                     | CUSIP: 243360JC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1713889.65   | 0.06%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON HEALTH C 5.00%                     | WASHINGTON HEALTH C 5.00%                     | CUSIP: 93978HB61<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |   2790000 | PA      | $2914366.76   | 0.10%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO O HARE INTL 5.00%                     | CHICAGO O HARE INTL 5.00%                     | CUSIP: 167591BQ8<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   5465000 | PA      | $5802200.34   | 0.20%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOUSIN VAR                     | MICHIGAN STATE HOUSIN VAR                     | CUSIP: 59465FAP5<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   1565000 | PA      | $1564766.82   | 0.05%             | 2042-12-01      | Variable      | 2.67%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY VAR                      | CALIFORNIA COMMUNITY VAR                      | CUSIP: 13013JCB0<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   3175000 | PA      | $3329670.13   | 0.11%             | 2053-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS COUNTY FLOOD 5.00%                     | HARRIS COUNTY FLOOD 5.00%                     | CUSIP: 414019CS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1580359.95   | 0.05%             | 2028-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SAN ANTONIO 5.00%                     | CITY OF SAN ANTONIO 5.00%                     | CUSIP: 79623PTQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5240000 | PA      | $5460359.82   | 0.19%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON HEALTH C 5.00%                     | WASHINGTON HEALTH C 5.00%                     | CUSIP: 93978HB53<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |   2675000 | PA      | $2745113.36   | 0.09%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PAGAYA AI DEBT GRA 4.497%                     | PAGAYA AI DEBT GRA 4.497%                     | CUSIP: 69549BAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2399779 | PA      | $2391372.87   | 0.08%             | 2033-04-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| USF FINC. CORP 5.00%                          | USF FINC. CORP 5.00%                          | CUSIP: 90343SBK0<br>LEI: 549300P9Y92T23EMUI42 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1028171.10   | 0.04%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA HOUSING FIN. VAR                      | FLORIDA HOUSING FIN. VAR                      | CUSIP: 34074HHW5<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |   1675000 | PA      | $1676648.20   | 0.06%             | 2029-01-01      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| SOUTH LYON COMMUNIT 5.00%                     | SOUTH LYON COMMUNIT 5.00%                     | CUSIP: 838736ZL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $906350.16    | 0.03%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SCHOOL DISTRICT OF 5.00%                      | SCHOOL DISTRICT OF 5.00%                      | CUSIP: 115065E83<br>LEI: 5493006KVNQDJ1D0OD92 | Long             | DBT              | MUN               | US        |   7710000 | PA      | $7918171.54   | 0.27%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNIT 4.00%                     | CALIFORNIA COMMUNIT 4.00%                     | CUSIP: 13013JBF2<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   2475000 | PA      | $2494693.58   | 0.09%             | 2027-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOUSIN VAR                     | MICHIGAN STATE HOUSIN VAR                     | CUSIP: 59465FAN0<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |    980000 | PA      | $979885.93    | 0.03%             | 2042-12-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY G 5.00%                     | BLACK BELT ENERGY G 5.00%                     | CUSIP: 09182THL4<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1036255.20   | 0.04%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IPS MULTI-SCHOOL BL 4.00%                     | IPS MULTI-SCHOOL BL 4.00%                     | CUSIP: 46263RNS0<br>LEI: 549300BHLK1DUJUYPM91 | Long             | DBT              | MUN               | US        |   7200000 | PA      | $7321983.84   | 0.25%             | 2027-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CITY OF HOUSTON TX 5.00%                      | CITY OF HOUSTON TX 5.00%                      | CUSIP: 442332CR1<br>LEI: 549300C64URYS0WQQY42 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1045231.00   | 0.04%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS COUNTY FLOOD 5.00%                     | HARRIS COUNTY FLOOD 5.00%                     | CUSIP: 414019CW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  13500000 | PA      | $14223239.55  | 0.49%             | 2028-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS DEV. 5.00%                      | MASSACHUSETTS DEV. 5.00%                      | CUSIP: 57585BNH7<br>LEI: 549300QPZ5W3279DU141 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2513710.00   | 0.09%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SAN ANTONIO 5.00%                     | CITY OF SAN ANTONIO 5.00%                     | CUSIP: 79623PUL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2325000 | PA      | $2422774.16   | 0.08%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAINE STATE HOUSING 2.90%                     | MAINE STATE HOUSING 2.90%                     | CUSIP: 56052FV85<br>LEI: 549300SO05LH6D240016 | Long             | DBT              | MUN               | US        |   4400000 | PA      | $4380679.60   | 0.15%             | 2027-11-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| ZIONSVILLE COMMUNIT 5.00%                     | ZIONSVILLE COMMUNIT 5.00%                     | CUSIP: 98972LPW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1425883.62   | 0.05%             | 2027-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANS 5.00%                     | NEW YORK CITY TRANS 5.00%                     | CUSIP: 64972LAU7<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7222175.80   | 0.25%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF PHILADELPHI 5.00%                     | CITY OF PHILADELPHI 5.00%                     | CUSIP: 717817YG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1025060.30   | 0.03%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DECATUR TOWNSHIP MU 5.00%                     | DECATUR TOWNSHIP MU 5.00%                     | CUSIP: 243360JD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2530000 | PA      | $2653467.29   | 0.09%             | 2028-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NOBLESVILLE SCHOOLS 6.00%                     | NOBLESVILLE SCHOOLS 6.00%                     | CUSIP: 655165DK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $512920.75    | 0.02%             | 2027-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ORANGE SA 4.00%                               | ORANGE SA 4.00%                               | CUSIP: 685218AH2<br>LEI: 969500MCOONR8990S771 | Long             | DBT              | CORP              | FR        |   5000000 | PA      | $4949939.10   | 0.17%             | 2029-01-13      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| SCHOOL DISTRICT OF 5.00%                      | SCHOOL DISTRICT OF 5.00%                      | CUSIP: 115065E91<br>LEI: 5493006KVNQDJ1D0OD92 | Long             | DBT              | MUN               | US        |   5575000 | PA      | $5839856.54   | 0.20%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY TURNPIKE 5.00%                     | NEW JERSEY TURNPIKE 5.00%                     | CUSIP: 6461397B5<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   3835000 | PA      | $3907981.58   | 0.13%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN. AUTHORI VAR                     | MICHIGAN FIN. AUTHORI VAR                     | CUSIP: 59447T2Y8<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   2905000 | PA      | $3032253.53   | 0.10%             | 2043-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS MUNICIPAL 5.00%                      | ILLINOIS MUNICIPAL 5.00%                      | CUSIP: 452024JH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9450000 | PA      | $9831874.50   | 0.34%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PAGAYA AI DEBT GRA 4.883%                     | PAGAYA AI DEBT GRA 4.883%                     | CUSIP: 69549BAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6699383 | PA      | $6649908.94   | 0.23%             | 2033-04-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| OSCEOLA COUNTY HOUSIN VAR                     | OSCEOLA COUNTY HOUSIN VAR                     | CUSIP: 687904CY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2675000 | PA      | $2663217.70   | 0.09%             | 2029-04-01      | Variable      | 2.75%                 | No            |                  2 | On Loan: No      |
| TEXAS MUNICIPAL GAS 5.00%                     | TEXAS MUNICIPAL GAS 5.00%                     | CUSIP: 88256HBC1<br>LEI: 0UDITKOYW0YKG3BBP242 | Long             | DBT              | MUN               | US        |   4285000 | PA      | $4401686.55   | 0.15%             | 2027-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA MUNICIPAL P 5.00%                     | FLORIDA MUNICIPAL P 5.00%                     | CUSIP: 342816T96<br>LEI: 549300M3I10QJUPNU131 | Long             | DBT              | MUN               | US        |    795000 | PA      | $821526.13    | 0.03%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SANTANDER UK GRP. HLD F2F                     | SANTANDER UK GRP. HLD F2F                     | CUSIP: 80281LAX3<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |   4800000 | PA      | $4754977.34   | 0.16%             | 2029-09-22      | Fixed         | 4.32%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL 5.00%                     | MAIN STREET NATURAL 5.00%                     | CUSIP: 56035DBH4<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   2510000 | PA      | $2591748.44   | 0.09%             | 2028-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF OHIO 5.00%                           | STATE OF OHIO 5.00%                           | CUSIP: 67756CHE1<br>LEI: 5493005LGDPOFHUC6Z36 | Long             | DBT              | MUN               | US        |  12800000 | PA      | $13561815.04  | 0.46%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON & CLACKA 5.00%                     | WASHINGTON & CLACKA 5.00%                     | CUSIP: 938395TB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1545153.60   | 0.05%             | 2027-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL F2F                          | BANK OF MONTREAL F2F                          | CUSIP: 06368MXU3<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |  16600000 | PA      | $16504235.93  | 0.56%             | 2028-09-22      | Fixed         | 4.06%                 | No            |                  2 | On Loan: No      |
| WASHINGTON HEALTH C 5.00%                     | WASHINGTON HEALTH C 5.00%                     | CUSIP: 93978HD44<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |    650000 | PA      | $679472.11    | 0.02%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DAIMLER TRUCK FIN. 4.15%                      | DAIMLER TRUCK FIN. 4.15%                      | CUSIP: 233853BK5<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |   9300000 | PA      | $9169744.39   | 0.31%             | 2029-01-12      | Fixed         | 4.15%                 | Yes           |                  2 | On Loan: No      |
| CITY OF GREEN BAY W 5.00%                     | CITY OF GREEN BAY W 5.00%                     | CUSIP: 392642HJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1090000 | PA      | $1159511.26   | 0.04%             | 2029-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HHA FOUNTAINVIEW PFC VAR                      | HHA FOUNTAINVIEW PFC VAR                      | CUSIP: 42837AAE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2125000 | PA      | $2108501.08   | 0.07%             | 2043-04-01      | Variable      | 2.75%                 | No            |                  2 | On Loan: No      |
| MISSOURI PUBLIC UTI 4.00%                     | MISSOURI PUBLIC UTI 4.00%                     | CUSIP: 606374AU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4700000 | PA      | $4759323.40   | 0.16%             | 2027-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA HOUSING FIN. VAR                      | FLORIDA HOUSING FIN. VAR                      | CUSIP: 34074HJB9<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2988051.00   | 0.10%             | 2043-09-01      | Variable      | 2.80%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASHIN 5.00%                     | METROPOLITAN WASHIN 5.00%                     | CUSIP: 592647JX0<br>LEI: 7HERAVJJLN8J1DZ6AZ19 | Long             | DBT              | MUN               | US        |   2940000 | PA      | $3084610.07   | 0.11%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTHORITY OF N 5.00%                     | PORT AUTHORITY OF N 5.00%                     | CUSIP: 73358XRB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6975000 | PA      | $7347810.26   | 0.25%             | 2028-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DECATUR TOWNSHIP MU 5.00%                     | DECATUR TOWNSHIP MU 5.00%                     | CUSIP: 243360JA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1320000 | PA      | $1342739.77   | 0.05%             | 2027-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SAN ANTONIO 5.00%                     | CITY OF SAN ANTONIO 5.00%                     | CUSIP: 79623PTM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6350000 | PA      | $6617039.09   | 0.23%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NOBLESVILLE SCHOOLS 6.00%                     | NOBLESVILLE SCHOOLS 6.00%                     | CUSIP: 655165DL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1325000 | PA      | $1380444.76   | 0.05%             | 2027-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO MIDWAY INTL 5.00%                     | CHICAGO MIDWAY INTL 5.00%                     | CUSIP: 167562UN5<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3677910.60   | 0.13%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA TURNPI 5.00%                     | PENNSYLVANIA TURNPI 5.00%                     | CUSIP: 709225RL2<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   8000000 | PA      | $8205294.40   | 0.28%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET TOWER GBL. FUND 4.00%                     | MET TOWER GBL. FUND 4.00%                     | CUSIP: 58989V2M5<br>LEI: 635400OFJCY9IOGBGY57 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9895171.30   | 0.34%             | 2029-01-14      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| SAN FRANCISCO CITY 5.00%                      | SAN FRANCISCO CITY 5.00%                      | CUSIP: 79766DNQ8<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   1715000 | PA      | $1816234.56   | 0.06%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY G 5.00%                     | BLACK BELT ENERGY G 5.00%                     | CUSIP: 09182THK6<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1280651.13   | 0.04%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SALT LAKE C 5.00%                     | CITY OF SALT LAKE C 5.00%                     | CUSIP: 795576GX9<br>LEI: 549300CRGKV67DRSGT85 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3075180.90   | 0.10%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAMPTON ROADS SANIT 5.00%                     | HAMPTON ROADS SANIT 5.00%                     | CUSIP: 409327MW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3355000 | PA      | $3378429.98   | 0.12%             | 2026-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SENECA VALLEY SCHOO 5.00%                     | SENECA VALLEY SCHOO 5.00%                     | CUSIP: 817207TE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    925000 | PA      | $946552.32    | 0.03%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MESQUITE INDEPENDEN 5.00%                     | MESQUITE INDEPENDEN 5.00%                     | CUSIP: 590760UL6<br>LEI: 549300M7COV11VUIZE16 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1584541.20   | 0.05%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHIPPEWA VALLEY SCH 5.00%                     | CHIPPEWA VALLEY SCH 5.00%                     | CUSIP: 170016K32<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1302663.57   | 0.04%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZ 5.00%                     | SALES TAX SECURITIZ 5.00%                     | CUSIP: 79467BAJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5170000 | PA      | $5372413.26   | 0.18%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI BEACH REDEVEL 5.00%                     | MIAMI BEACH REDEVEL 5.00%                     | CUSIP: 593237FU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1765908.83   | 0.06%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY & COUNTY OF HO 5.00%                     | CITY & COUNTY OF HO 5.00%                     | CUSIP: 438687P66<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11390000 | PA      | $12008900.71  | 0.41%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PALM BEACH COUNTY H 2.80%                     | PALM BEACH COUNTY H 2.80%                     | CUSIP: 696513AV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $997143.70    | 0.03%             | 2027-02-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| COUNTY OF MIAMI-DAD 5.00%                     | COUNTY OF MIAMI-DAD 5.00%                     | CUSIP: 59333P7E2<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   4100000 | PA      | $4301667.11   | 0.15%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF PINAL AZ 5.00%                      | COUNTY OF PINAL AZ 5.00%                      | CUSIP: 72205RHA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1054339.50   | 0.04%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MACON-BIBB COUNTY HOU VAR                     | MACON-BIBB COUNTY HOU VAR                     | CUSIP: 55554RAH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3504245.50   | 0.12%             | 2029-02-01      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CITY 5.00%                      | SAN FRANCISCO CITY 5.00%                      | CUSIP: 79766DRP6<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |  10880000 | PA      | $11116345.15  | 0.38%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF LEE FL AI 5.00%                     | COUNTY OF LEE FL AI 5.00%                     | CUSIP: 523470GG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2622967.75   | 0.09%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF LOS ANGELES 5.00%                     | CITY OF LOS ANGELES 5.00%                     | CUSIP: 5444452H1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6500000 | PA      | $6788820.35   | 0.23%             | 2028-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SENECA VALLEY SCHOO 5.00%                     | SENECA VALLEY SCHOO 5.00%                     | CUSIP: 817207TF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1775000 | PA      | $1852198.12   | 0.06%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF EL PASO TX 5.00%                      | CITY OF EL PASO TX 5.00%                      | CUSIP: 283735AB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2064186.00   | 0.07%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALABAMA HOUSING FIN. VAR                      | ALABAMA HOUSING FIN. VAR                      | CUSIP: 01030PHD1<br>LEI: 549300VFN7EHPOFS7D76 | Long             | DBT              | MUN               | US        |   1900000 | PA      | $1903247.48   | 0.06%             | 2028-12-01      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN. AUTHO 5.00%                     | ILLINOIS FIN. AUTHO 5.00%                     | CUSIP: 45204FAS4<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3153284.70   | 0.11%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE MUNIC 5.00%                     | NEW HAMPSHIRE MUNIC 5.00%                     | CUSIP: 64465QTD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2067478.20   | 0.07%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBI 5.00%                     | DISTRICT OF COLUMBI 5.00%                     | CUSIP: 254845VA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    765000 | PA      | $810234.99    | 0.03%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHIPPEWA VALLEY SCH 5.00%                     | CHIPPEWA VALLEY SCH 5.00%                     | CUSIP: 170016K40<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1280000 | PA      | $1313874.30   | 0.04%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBI 5.00%                     | DISTRICT OF COLUMBI 5.00%                     | CUSIP: 254845UM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2330087.54   | 0.08%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS MUNICIPAL GAS 5.00%                     | TEXAS MUNICIPAL GAS 5.00%                     | CUSIP: 88256FAC6<br>LEI: 254900OCOQCKZZ4U6C83 | Long             | DBT              | MUN               | US        |    625000 | PA      | $650094.06    | 0.02%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WAYNE COUNTY AIRPOR 5.00%                     | WAYNE COUNTY AIRPOR 5.00%                     | CUSIP: 944514ZU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3098686.20   | 0.11%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF EL PASO TX 5.00%                      | CITY OF EL PASO TX 5.00%                      | CUSIP: 283735AC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1052374.40   | 0.04%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OWENSBORO-DAVIESS C 5.00%                     | OWENSBORO-DAVIESS C 5.00%                     | CUSIP: 690882DF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2205000 | PA      | $2282601.89   | 0.08%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF NEW MEXICO 5.00%                     | STATE OF NEW MEXICO 5.00%                     | CUSIP: 6473104B4<br>LEI: 549300H4YLM23QKOGK29 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4207465.20   | 0.14%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MESQUITE INDEPENDEN 5.00%                     | MESQUITE INDEPENDEN 5.00%                     | CUSIP: 590760UK8<br>LEI: 549300M7COV11VUIZE16 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1548345.15   | 0.05%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BOROUGH OF NORTH SL 5.00%                     | BOROUGH OF NORTH SL 5.00%                     | CUSIP: 662523X53<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4100000 | PA      | $4222961.46   | 0.14%             | 2027-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| POLK COUNTY HOUSING F VAR                     | POLK COUNTY HOUSING F VAR                     | CUSIP: 731903BP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2253566.48   | 0.08%             | 2028-12-01      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| CHICAGO O HARE INTL 5.00%                     | CHICAGO O HARE INTL 5.00%                     | CUSIP: 167593YY2<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   2290000 | PA      | $2328884.66   | 0.08%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY & COUNTY OF DE 5.00%                     | CITY & COUNTY OF DE 5.00%                     | CUSIP: 249182LA2<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   3865000 | PA      | $3990864.88   | 0.14%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL FRN                          | BANK OF MONTREAL FRN                          | CUSIP: 06368FAD1<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |   9600000 | PA      | $9609770.40   | 0.33%             | 2026-09-15      | Floating      | 4.26%                 | No            |                  2 | On Loan: No      |
| NATIONWIDE BLDG. SOCI FRN                     | NATIONWIDE BLDG. SOCI FRN                     | CUSIP: 63861VAG2<br>LEI: 549300XFX12G42QIKN82 | Long             | DBT              | CORP              | GB        |   4300000 | PA      | $4316475.28   | 0.15%             | 2028-02-16      | Floating      | 4.96%                 | Yes           |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS VAR                     | BLACK BELT ENERGY GAS VAR                     | CUSIP: 09182TBC0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1163325.40   | 0.04%             | 2053-04-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| STATE OF WASHINGTON 5.00%                     | STATE OF WASHINGTON 5.00%                     | CUSIP: 93972AFB7<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   6800000 | PA      | $7091298.40   | 0.24%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ATLANTA URBAN RESIDEN VAR                     | ATLANTA URBAN RESIDEN VAR                     | CUSIP: 04785VBT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4100000 | PA      | $4094796.69   | 0.14%             | 2029-05-01      | Variable      | 2.92%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECONOM 5.00%                     | PENNSYLVANIA ECONOM 5.00%                     | CUSIP: 70870JHB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2680000 | PA      | $2732297.25   | 0.09%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JERSEY CITY MUNICIP 5.00%                     | JERSEY CITY MUNICIP 5.00%                     | CUSIP: 476624DQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  15510000 | PA      | $15541269.71  | 0.53%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALBUQUERQUE MUNICIP 5.00%                     | ALBUQUERQUE MUNICIP 5.00%                     | CUSIP: 013595ZN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2150000 | PA      | $2167415.22   | 0.07%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF RICHARDSON 5.00%                      | CITY OF RICHARDSON 5.00%                      | CUSIP: 7632273G8<br>LEI: 549300YMK2Z7UGNHHQ13 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2041227.20   | 0.07%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FRASER PUBLIC SCHOO 5.00%                     | FRASER PUBLIC SCHOO 5.00%                     | CUSIP: 355514PX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1415000 | PA      | $1417730.67   | 0.05%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KELLER INDEPENDENT 5.00%                      | KELLER INDEPENDENT 5.00%                      | CUSIP: 487694VF5<br>LEI: 549300BS0JDJPR8KUN68 | Long             | DBT              | MUN               | US        |   4550000 | PA      | $4648955.22   | 0.16%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON & CLACKA 5.00%                     | WASHINGTON & CLACKA 5.00%                     | CUSIP: 938395TC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2105353.40   | 0.07%             | 2028-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT OF SEATTLE WA 5.00%                      | PORT OF SEATTLE WA 5.00%                      | CUSIP: 7353893K2<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   3100000 | PA      | $3252480.01   | 0.11%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF DANE WI 4.00%                       | COUNTY OF DANE WI 4.00%                       | CUSIP: 236092RX2<br>LEI: 5493000I57K3U1SCHU17 | Long             | DBT              | MUN               | US        |   3965000 | PA      | $4010970.21   | 0.14%             | 2027-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CITY OF AUSTIN TX 5.00%                       | CITY OF AUSTIN TX 5.00%                       | CUSIP: 0523973E4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3694884.90   | 0.13%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TARRANT COUNTY CULT 5.00%                     | TARRANT COUNTY CULT 5.00%                     | CUSIP: 87638QUK3<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |    600000 | PA      | $632925.72    | 0.02%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VILLAGE OF BOLINGBR 5.00%                     | VILLAGE OF BOLINGBR 5.00%                     | CUSIP: 097552TH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1490000 | PA      | $1543314.88   | 0.05%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OSCEOLA COUNTY HOUSIN VAR                     | OSCEOLA COUNTY HOUSIN VAR                     | CUSIP: 687904CX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1850000 | PA      | $1825537.08   | 0.06%             | 2043-09-01      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| UTAH HOUSING CORP VAR                         | UTAH HOUSING CORP VAR                         | CUSIP: 917434DR0<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2460238.75   | 0.08%             | 2045-03-01      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUNICIPAL VAR                      | CALIFORNIA MUNICIPAL VAR                      | CUSIP: 130483KW9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   4280000 | PA      | $4204694.68   | 0.14%             | 2046-03-01      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| KENTUCKY PUBLIC ENE 5.00%                     | KENTUCKY PUBLIC ENE 5.00%                     | CUSIP: 74440DET7<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1083406.28   | 0.04%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HEALTH & 5.00%                      | WISCONSIN HEALTH & 5.00%                      | CUSIP: 97712DD37<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1649227.20   | 0.06%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY OF COLORAD VAR                     | UNIVERSITY OF COLORAD VAR                     | CUSIP: 91417NDA0<br>LEI: 549300V9VTO8HF8HW723 | Long             | DBT              | MUN               | US        |   4510000 | PA      | $4484298.86   | 0.15%             | 2051-06-01      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH VAR                     | SOUTHEAST ENERGY AUTH VAR                     | CUSIP: 84136FAH0<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |  23950000 | PA      | $24371266.13  | 0.83%             | 2051-11-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAP. AMERIC 5.25%                     | HYUNDAI CAP. AMERIC 5.25%                     | CUSIP: 44891ACT2<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5027842.25   | 0.17%             | 2027-01-08      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| UNIVERSITY OF KENTU 3.00%                     | UNIVERSITY OF KENTU 3.00%                     | CUSIP: 914378PL2<br>LEI: 549300CXE3YQ1HXYCQ71 | Long             | DBT              | MUN               | US        |   2105000 | PA      | $2105000.00   | 0.07%             | 2026-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CNH EQUIP. TST. 202 4.77%                     | CNH EQUIP. TST. 202 4.77%                     | CUSIP: 18978FAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    742112 | PA      | $747071.00    | 0.03%             | 2029-06-15      | Fixed         | 4.77%                 | No            |                  2 | On Loan: No      |
| MARICOPA COUNTY ELE 5.00%                     | MARICOPA COUNTY ELE 5.00%                     | CUSIP: 567385HP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1830000 | PA      | $1841151.11   | 0.06%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA LOCAL GOV 5.00%                     | LOUISIANA LOCAL GOV 5.00%                     | CUSIP: 54628C4A7<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1026825.70   | 0.04%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF NORTH CARO 5.00%                     | STATE OF NORTH CARO 5.00%                     | CUSIP: 65829QGB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2054056.20   | 0.07%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF LEE FL AI 5.00%                     | COUNTY OF LEE FL AI 5.00%                     | CUSIP: 523470GF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3525000 | PA      | $3632058.48   | 0.12%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH OF PEN 5.00%                     | COMMONWEALTH OF PEN 5.00%                     | CUSIP: 70914PE32<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7170000 | PA      | $7248469.20   | 0.25%             | 2027-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF LOS ANGELES 5.00%                     | CITY OF LOS ANGELES 5.00%                     | CUSIP: 544445GL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5222169.50   | 0.18%             | 2028-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC 5.25%                     | NEW JERSEY ECONOMIC 5.25%                     | CUSIP: 64577B6K5<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5055839.50   | 0.17%             | 2026-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ING GROEP NV FRN                              | ING GROEP NV FRN                              | CUSIP: 456837AX1<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |  23800000 | PA      | $23800000.00  | 0.81%             | 2027-04-01      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| FORT ZUMWALT SCHOOL 5.00%                     | FORT ZUMWALT SCHOOL 5.00%                     | CUSIP: 3495454A8<br>LEI: 549300GAUDH543HQW865 | Long             | DBT              | MUN               | US        |   8415000 | PA      | $8784037.30   | 0.30%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORT BEND INDEPENDE 5.00%                     | FORT BEND INDEPENDE 5.00%                     | CUSIP: 346843WT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1360000 | PA      | $1372665.68   | 0.05%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MUNICIPAL ELEC. AUT 5.00%                     | MUNICIPAL ELEC. AUT 5.00%                     | CUSIP: 626207U85<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |   9040000 | PA      | $9093567.42   | 0.31%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF DANE WI 5.00%                       | COUNTY OF DANE WI 5.00%                       | CUSIP: 236092LS9<br>LEI: 5493000I57K3U1SCHU17 | Long             | DBT              | MUN               | US        |   3400000 | PA      | $3550395.26   | 0.12%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSP 5.00%                     | METROPOLITAN TRANSP 5.00%                     | CUSIP: 59261A5T0<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   9370000 | PA      | $9941140.85   | 0.34%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON HEALTH C 5.00%                     | WASHINGTON HEALTH C 5.00%                     | CUSIP: 93978HD36<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |    790000 | PA      | $813913.77    | 0.03%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP 4.55%                             | ORACLE CORP 4.55%                             | CUSIP: 68389XDW2<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |  14560000 | PA      | $14375986.79  | 0.49%             | 2029-02-04      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| SAUDI ARABIAN OIL C 4.00%                     | SAUDI ARABIAN OIL C 4.00%                     | CUSIP: 80415RAB7<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |   5620000 | PA      | $5502058.68   | 0.19%             | 2029-02-02      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| MICHIGAN STATE HOSP 5.00%                     | MICHIGAN STATE HOSP 5.00%                     | CUSIP: 59465HXP6<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002771.50   | 0.03%             | 2026-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KNOX COUNTY HEALTH ED VAR                     | KNOX COUNTY HEALTH ED VAR                     | CUSIP: 499652AN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4665000 | PA      | $4701344.08   | 0.16%             | 2027-12-01      | Variable      | 4.05%                 | No            |                  2 | On Loan: No      |
| BOARD OF REGENTS OF 2.40%                     | BOARD OF REGENTS OF 2.40%                     | CUSIP: 91514YQM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6330000 | PA      | $6329102.41   | 0.22%             | 2026-07-01      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| DALLAS FORT WORTH I 5.00%                     | DALLAS FORT WORTH I 5.00%                     | CUSIP: 23503CFP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1050637.00   | 0.04%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE COUNTY HOU VAR                     | MIAMI-DADE COUNTY HOU VAR                     | CUSIP: 593344DM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2736285.48   | 0.09%             | 2029-04-01      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| PORT OF SEATTLE WA 5.00%                      | PORT OF SEATTLE WA 5.00%                      | CUSIP: 735389F60<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   1035000 | PA      | $1078085.08   | 0.04%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATWEST MARKETS PLC FRN                       | NATWEST MARKETS PLC FRN                       | CUSIP: 63906YAE8<br>LEI: RR3QWICWWIPCS8A4S074 | Long             | DBT              | CORP              | GB        |   2800000 | PA      | $2804028.25   | 0.10%             | 2026-09-29      | Floating      | 4.45%                 | Yes           |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINAN FRN                     | SUMITOMO MITSUI FINAN FRN                     | CUSIP: 86562MCL2<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |   9880000 | PA      | $9905447.92   | 0.34%             | 2027-01-14      | Floating      | 4.55%                 | No            |                  2 | On Loan: No      |
| COOPERATIEVE RABOBANK F2V                     | COOPERATIEVE RABOBANK F2V                     | CUSIP: 74977RDN1<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |  10000000 | PA      | $9909321.10   | 0.34%             | 2028-04-06      | Fixed         | 3.65%                 | Yes           |                  2 | On Loan: No      |
| COLORADO HEALTH FACIL VAR                     | COLORADO HEALTH FACIL VAR                     | CUSIP: 19648FVL5<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |  11205000 | PA      | $11780420.45  | 0.40%             | 2062-05-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG/NEW F2F                      | DEUTSCHE BANK AG/NEW F2F                      | CUSIP: 251526CU1<br>LEI: N/A                  | Long             | DBT              | CORP              | DE        |  20809000 | PA      | $21848782.03  | 0.75%             | 2029-11-20      | Fixed         | 6.82%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT STATE H 5.00%                     | CONNECTICUT STATE H 5.00%                     | CUSIP: 20775DYD8<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   5500000 | PA      | $5654255.20   | 0.19%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF NORTH CARO 5.00%                     | STATE OF NORTH CARO 5.00%                     | CUSIP: 658268EZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12640000 | PA      | $13223818.85  | 0.45%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ENERGY NORTHWEST 5.00%                        | ENERGY NORTHWEST 5.00%                        | CUSIP: 29270C6X8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3260000 | PA      | $3434940.08   | 0.12%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER COLORADO RIVE 5.00%                     | LOWER COLORADO RIVE 5.00%                     | CUSIP: 54811BS36<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |    750000 | PA      | $769797.00    | 0.03%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY HOUSING 2.95%                      | NEW JERSEY HOUSING 2.95%                      | CUSIP: 6461087N4<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |   2770000 | PA      | $2757622.81   | 0.09%             | 2028-05-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA HEALTH 5.00%                     | SOUTH DAKOTA HEALTH 5.00%                     | CUSIP: 83755VU85<br>LEI: 549300ZW6LKR8UI2C378 | Long             | DBT              | MUN               | US        |    360000 | PA      | $364468.61    | 0.01%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN. AUTHORI FRN                     | ILLINOIS FIN. AUTHORI FRN                     | CUSIP: 45204E2L1<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   7250000 | PA      | $7259000.88   | 0.25%             | 2034-11-01      | Floating      | 3.70%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH FINC. 5.00%                      | COMMONWEALTH FINC. 5.00%                      | CUSIP: 20282EAJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2280000 | PA      | $2389136.99   | 0.08%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF FORT SMITH 5.00%                      | CITY OF FORT SMITH 5.00%                      | CUSIP: 348815PC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2385000 | PA      | $2412245.52   | 0.08%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BAY AREA TOLL AUTHORI FRN                     | BAY AREA TOLL AUTHORI FRN                     | CUSIP: 072024XT4<br>LEI: 5493001FUZGUQMIP5D78 | Long             | DBT              | MUN               | US        |   8500000 | PA      | $8444216.20   | 0.29%             | 2056-04-01      | Floating      | 2.72%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY COUNTY HIGH FRN                     | ALLEGHENY COUNTY HIGH FRN                     | CUSIP: 01729EKZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4984569.00   | 0.17%             | 2033-02-01      | Floating      | 2.84%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY COUNTY HOSP FRN                     | ALLEGHENY COUNTY HOSP FRN                     | CUSIP: 01728A5V4<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |  40000000 | PA      | $39710600.00  | 1.36%             | 2047-11-15      | Floating      | 3.12%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACIL FRN                     | COLORADO HEALTH FACIL FRN                     | CUSIP: 19648FVM3<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |  22100000 | PA      | $22096351.29  | 0.75%             | 2061-05-15      | Floating      | 2.97%                 | No            |                  2 | On Loan: No      |
| CHICAGO O HARE INTL 5.00%                     | CHICAGO O HARE INTL 5.00%                     | CUSIP: 1675935M0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3156548.70   | 0.11%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENNESSEE HOUSING D 3.30%                     | TENNESSEE HOUSING D 3.30%                     | CUSIP: 880461HL5<br>LEI: 25490004PSQYQLFJGI76 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1750311.15   | 0.06%             | 2028-01-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| COUNTY OF COOK IL S 5.00%                     | COUNTY OF COOK IL S 5.00%                     | CUSIP: 213248FB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1056521.60   | 0.04%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF BROWNSVILLE 5.00%                     | CITY OF BROWNSVILLE 5.00%                     | CUSIP: 1164753S1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    720000 | PA      | $726608.38    | 0.02%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VALPARAISO 21ST CEN 5.00%                     | VALPARAISO 21ST CEN 5.00%                     | CUSIP: 920272AC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1020000 | PA      | $1037812.67   | 0.04%             | 2027-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY G 5.00%                     | BLACK BELT ENERGY G 5.00%                     | CUSIP: 09182TFU6<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    510000 | PA      | $524476.15    | 0.02%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MEDICAL UNIVERSITY 5.00%                      | MEDICAL UNIVERSITY 5.00%                      | CUSIP: 58463YAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1056495.60   | 0.04%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND STADIUM AU 5.00%                     | MARYLAND STADIUM AU 5.00%                     | CUSIP: 574294AD6<br>LEI: 549300VA283TTQRDNF71 | Long             | DBT              | MUN               | US        |   2180000 | PA      | $2188804.58   | 0.07%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSPOR FRN                     | METROPOLITAN TRANSPOR FRN                     | CUSIP: 59261AM87<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |  40000000 | PA      | $40000000.00  | 1.37%             | 2042-11-15      | Floating      | 3.09%                 | No            |                  2 | On Loan: No      |
| COUNTY OF MIAMI-DAD 5.00%                     | COUNTY OF MIAMI-DAD 5.00%                     | CUSIP: 59333P7D4<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   3700000 | PA      | $3810723.24   | 0.13%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PEARLAND INDEPENDEN 5.00%                     | PEARLAND INDEPENDEN 5.00%                     | CUSIP: 704880BQ5<br>LEI: 549300UU8ZB6DL6OXQ09 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1568290.05   | 0.05%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHTENAW COUNTY IN 5.00%                     | WASHTENAW COUNTY IN 5.00%                     | CUSIP: 941009CW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4360000 | PA      | $4472078.60   | 0.15%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBI 2.95%                     | DISTRICT OF COLUMBI 2.95%                     | CUSIP: 25477PQF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4478238.90   | 0.15%             | 2028-09-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| YAKIMA COUNTY SCHOO 5.00%                     | YAKIMA COUNTY SCHOO 5.00%                     | CUSIP: 984392FY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1605000 | PA      | $1667933.49   | 0.06%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF BROWNSVILLE 5.00%                     | CITY OF BROWNSVILLE 5.00%                     | CUSIP: 1164753U6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $657683.19    | 0.02%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF HAMILTON 5.00%                      | COUNTY OF HAMILTON 5.00%                      | CUSIP: 407216PC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2885000 | PA      | $2901574.61   | 0.10%             | 2026-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VALPARAISO 21ST CEN 5.00%                     | VALPARAISO 21ST CEN 5.00%                     | CUSIP: 920272AD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $411295.24    | 0.01%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CITY 5.00%                      | SAN FRANCISCO CITY 5.00%                      | CUSIP: 79766DVC0<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2402866.58   | 0.08%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL FLORIDA TOU 5.00%                     | CENTRAL FLORIDA TOU 5.00%                     | CUSIP: 758449QM7<br>LEI: 549300DLSKH6SZ96KV94 | Long             | DBT              | MUN               | US        |   1315000 | PA      | $1319814.08   | 0.05%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NI US GOV T PORTFOLIO                         | NI US GOV T PORTFOLIO                         | CUSIP: 665278404<br>LEI: 549300Y178DO5JBR1S04 | Long             | STIV             | RF                | US        |   9671557 | NS      | $9671557.01   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACK BELT ENERGY GAS FRN                     | BLACK BELT ENERGY GAS FRN                     | CUSIP: 09182TAN7<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |  29000000 | PA      | $28950601.40  | 0.99%             | 2052-10-01      | Floating      | 2.77%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS FRN                     | BLACK BELT ENERGY GAS FRN                     | CUSIP: 09182NCC2<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |  20000000 | PA      | $20085626.00  | 0.69%             | 2052-07-01      | Floating      | 3.84%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS VAR                     | BLACK BELT ENERGY GAS VAR                     | CUSIP: 09182TCG0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |  34930000 | PA      | $36644081.47  | 1.25%             | 2053-02-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| STATE OF ILLINOIS 5.00%                       | STATE OF ILLINOIS 5.00%                       | CUSIP: 4521526R7<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   3430000 | PA      | $3538229.53   | 0.12%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY TURNPIKE 5.00%                     | NEW JERSEY TURNPIKE 5.00%                     | CUSIP: 646140FM0<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   4490000 | PA      | $4575446.50   | 0.16%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF TUCSON AZ 5.00%                       | CITY OF TUCSON AZ 5.00%                       | CUSIP: 898711X84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6460000 | PA      | $6647708.22   | 0.23%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WAYNE STATE UNIVERS 5.00%                     | WAYNE STATE UNIVERS 5.00%                     | CUSIP: 946303J70<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $518044.80    | 0.02%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH WEST HENDRICK 5.00%                     | NORTH WEST HENDRICK 5.00%                     | CUSIP: 66328RDV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    680000 | PA      | $703194.60    | 0.02%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF BROWNSVILLE 5.00%                     | CITY OF BROWNSVILLE 5.00%                     | CUSIP: 1164753T9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    660000 | PA      | $679987.90    | 0.02%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF HAMILTON 5.00%                      | COUNTY OF HAMILTON 5.00%                      | CUSIP: 407216PD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1281796.99   | 0.04%             | 2026-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA HEALTH 5.00%                     | SOUTH DAKOTA HEALTH 5.00%                     | CUSIP: 83755VU93<br>LEI: 549300ZW6LKR8UI2C378 | Long             | DBT              | MUN               | US        |    915000 | PA      | $943384.12    | 0.03%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ZIONSVILLE COMMUNIT 5.00%                     | ZIONSVILLE COMMUNIT 5.00%                     | CUSIP: 98972LPX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    510000 | PA      | $525253.79    | 0.02%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHERN MINNESOTA 5.00%                      | SOUTHERN MINNESOTA 5.00%                      | CUSIP: 843375F84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1240000 | PA      | $1262740.24   | 0.04%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDUSTRIAL DEV. BOARD VAR                     | INDUSTRIAL DEV. BOARD VAR                     | CUSIP: 607167DX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6500000 | PA      | $6442150.00   | 0.22%             | 2034-07-15      | Variable      | 2.75%                 | No            |                  2 | On Loan: No      |
| MINNESOTA MUNICIPAL G FRN                     | MINNESOTA MUNICIPAL G FRN                     | CUSIP: 60406UAN7<br>LEI: 549300SISI6N1C6S3136 | Long             | DBT              | MUN               | US        |  40000000 | PA      | $39900288.00  | 1.36%             | 2052-12-01      | Floating      | 3.44%                 | No            |                  2 | On Loan: No      |
| RURAL WATER FINC. A 3.05%                     | RURAL WATER FINC. A 3.05%                     | CUSIP: 781741CW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10000259.00  | 0.34%             | 2027-05-01      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| NORTH WEST HENDRICK 5.00%                     | NORTH WEST HENDRICK 5.00%                     | CUSIP: 66328RDU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    785000 | PA      | $804451.52    | 0.03%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF RACINE WI 5.00%                       | CITY OF RACINE WI 5.00%                       | CUSIP: 750022KR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2885000 | PA      | $2895664.98   | 0.10%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PARK CREEK METROPOL 5.00%                     | PARK CREEK METROPOL 5.00%                     | CUSIP: 700385BN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $710093.02    | 0.02%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF CONNECTICU 5.00%                     | STATE OF CONNECTICU 5.00%                     | CUSIP: 20772KG94<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |   8075000 | PA      | $8539109.82   | 0.29%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF PENSACOLA F 5.00%                     | CITY OF PENSACOLA F 5.00%                     | CUSIP: 709427EM6<br>LEI: 549300Y7HMDKHDFTZ042 | Long             | DBT              | MUN               | US        |   1180000 | PA      | $1238040.78   | 0.04%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SAN ANTONIO 5.00%                     | CITY OF SAN ANTONIO 5.00%                     | CUSIP: 79625GAE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4745000 | PA      | $4843233.84   | 0.17%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSPOR FRN                     | METROPOLITAN TRANSPOR FRN                     | CUSIP: 59261AL96<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    200000 | PA      | $199424.84    | 0.01%             | 2026-11-01      | Floating      | 2.87%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN. AUTHO 5.00%                     | MICHIGAN FIN. AUTHO 5.00%                     | CUSIP: 59447T3G6<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |   3915000 | PA      | $4005598.97   | 0.14%             | 2027-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENNESSEE ENERGY ACQU VAR                     | TENNESSEE ENERGY ACQU VAR                     | CUSIP: 880443JF4<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |  14100000 | PA      | $14543583.18  | 0.50%             | 2053-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF IRVING TX W 5.00%                     | CITY OF IRVING TX W 5.00%                     | CUSIP: 463831UZ8<br>LEI: 5493002R7BX8XPQ92O37 | Long             | DBT              | MUN               | US        |   1585000 | PA      | $1599820.54   | 0.05%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA HEALTH FACILI FRN                     | ARIZONA HEALTH FACILI FRN                     | CUSIP: 040507QT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7335000 | PA      | $7292273.63   | 0.25%             | 2046-01-01      | Floating      | 2.67%                 | No            |                  2 | On Loan: No      |
| MINNESOTA RURAL WAT 3.30%                     | MINNESOTA RURAL WAT 3.30%                     | CUSIP: 60411PBE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10002838.00  | 0.34%             | 2026-08-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| TRAVERSE CITY AREA 5.00%                      | TRAVERSE CITY AREA 5.00%                      | CUSIP: 894282SU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8100000 | PA      | $8304712.92   | 0.28%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CIVICVENTURES/AK 5.00%                        | CIVICVENTURES/AK 5.00%                        | CUSIP: 178860CA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    975000 | PA      | $1021297.97   | 0.03%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HEALTH & EDUCATIONA 5.00%                     | HEALTH & EDUCATIONA 5.00%                     | CUSIP: 60637AXV9<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |    750000 | PA      | $788715.30    | 0.03%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PARK CREEK METROPOL 5.00%                     | PARK CREEK METROPOL 5.00%                     | CUSIP: 700385BP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1036884.30   | 0.04%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF MICHIGAN 5.00%                       | STATE OF MICHIGAN 5.00%                       | CUSIP: 594612DJ9<br>LEI: CADMV8WVNQO7XM117W54 | Long             | DBT              | MUN               | US        |   4435000 | PA      | $4538066.74   | 0.15%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SCHOOL DISTRICT OF 5.00%                      | SCHOOL DISTRICT OF 5.00%                      | CUSIP: 115065ZN7<br>LEI: 5493006KVNQDJ1D0OD92 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5027672.50   | 0.17%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA PORT 5.00%                     | SOUTH CAROLINA PORT 5.00%                     | CUSIP: 837123GX0<br>LEI: 5493001YXW15H9J1M026 | Long             | DBT              | MUN               | US        |   2920000 | PA      | $2935577.91   | 0.10%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE VALLEY REGIO FRN                     | DELAWARE VALLEY REGIO FRN                     | CUSIP: 246579LL8<br>LEI: 549300HGYP3NW885TT18 | Long             | DBT              | MUN               | US        |  11000000 | PA      | $10986444.70  | 0.37%             | 2057-03-01      | Floating      | 2.94%                 | No            |                  2 | On Loan: No      |
| SWEETWATER COUNTY 2 6.00%                     | SWEETWATER COUNTY 2 6.00%                     | CUSIP: 87048HAC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2655000 | PA      | $2672789.56   | 0.09%             | 2026-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DEVELOPMENT AUTHORITY VAR                     | DEVELOPMENT AUTHORITY VAR                     | CUSIP: 121342QL6<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | MUN               | US        |   3800000 | PA      | $3811936.18   | 0.13%             | 2053-11-01      | Variable      | 3.38%                 | No            |                  2 | On Loan: No      |
| WEST OTTAWA PUBLIC 5.00%                      | WEST OTTAWA PUBLIC 5.00%                      | CUSIP: 955023XB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9125000 | PA      | $9245122.41   | 0.32%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF ALASKA 5.00%                         | STATE OF ALASKA 5.00%                         | CUSIP: 0117706C3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2065078.80   | 0.07%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLEVELAND COUNTY IN 4.00%                     | CLEVELAND COUNTY IN 4.00%                     | CUSIP: 186054JX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5520000 | PA      | $5585273.45   | 0.19%             | 2027-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| STATE OF ILLINOIS 5.25%                       | STATE OF ILLINOIS 5.25%                       | CUSIP: 452153NN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  23415000 | PA      | $24681290.22  | 0.84%             | 2028-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VALPARAISO 21ST CEN 5.00%                     | VALPARAISO 21ST CEN 5.00%                     | CUSIP: 920272AF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4025000 | PA      | $4223253.79   | 0.14%             | 2028-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHERN MINNESOTA 5.00%                      | SOUTHERN MINNESOTA 5.00%                      | CUSIP: 843375F92<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1249683.96   | 0.04%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN. AUTHOR 5.00%                     | INDIANA FIN. AUTHOR 5.00%                     | CUSIP: 45506EQE6<br>LEI: 549300IMOY6ECI21DH68 | Long             | DBT              | MUN               | US        |   6290000 | PA      | $6642087.15   | 0.23%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF PHOENIX CIVIC 5%                      | CITY OF PHOENIX CIVIC 5%                      | CUSIP: 71883RNQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1756759.90   | 0.06%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC 4.25%                     | NEW JERSEY ECONOMIC 4.25%                     | CUSIP: 64577BKK9<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |  13565000 | PA      | $13573784.69  | 0.46%             | 2026-06-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY VAR                      | CALIFORNIA COMMUNITY VAR                      | CUSIP: 13013JBJ4<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   8725000 | PA      | $8831369.97   | 0.30%             | 2053-05-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOUS 3.35%                     | MICHIGAN STATE HOUS 3.35%                     | CUSIP: 59465PDL9<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |    655000 | PA      | $655000.00    | 0.02%             | 2026-04-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| CITY OF DALLAS TX 5.00%                       | CITY OF DALLAS TX 5.00%                       | CUSIP: 235219UU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5565000 | PA      | $5815231.34   | 0.20%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY & COUNTY OF DE 5.00%                     | CITY & COUNTY OF DE 5.00%                     | CUSIP: 249182TR7<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |  15560000 | PA      | $15789903.67  | 0.54%             | 2026-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF TULSA OK 3.00%                        | CITY OF TULSA OK 3.00%                        | CUSIP: 899645J30<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3002446.50   | 0.10%             | 2026-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| STATE OF ILLINOIS 5.00%                       | STATE OF ILLINOIS 5.00%                       | CUSIP: 452153LL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7076176.80   | 0.24%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NOBLESVILLE SCHOOLS 6.00%                     | NOBLESVILLE SCHOOLS 6.00%                     | CUSIP: 655165DM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1345000 | PA      | $1422323.92   | 0.05%             | 2028-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| STATE OF HAWAII 5.00%                         | STATE OF HAWAII 5.00%                         | CUSIP: 419792HU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6895000 | PA      | $6909374.01   | 0.24%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF OHIO 5.00%                           | STATE OF OHIO 5.00%                           | CUSIP: 677561LU4<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   3220000 | PA      | $3277141.15   | 0.11%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF SPOTSYLVA 5.00%                     | COUNTY OF SPOTSYLVA 5.00%                     | CUSIP: 849269GJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002056.60   | 0.03%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS HOUSING DE 3.80%                     | ILLINOIS HOUSING DE 3.80%                     | CUSIP: 45203MTL5<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |    600000 | PA      | $602683.44    | 0.02%             | 2026-10-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| CHANDLER INDL. DEV. A VAR                     | CHANDLER INDL. DEV. A VAR                     | CUSIP: 158862CE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7500000 | PA      | $7595412.00   | 0.26%             | 2049-06-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT STATE HEA VAR                     | CONNECTICUT STATE HEA VAR                     | CUSIP: 20775DYS5<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |  20000000 | PA      | $21282746.00  | 0.73%             | 2049-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| DALLAS INDEPENDENT 5.00%                      | DALLAS INDEPENDENT 5.00%                      | CUSIP: 235308R39<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2285000 | PA      | $2390740.66   | 0.08%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DECATUR HOUSING AUTHO VAR                     | DECATUR HOUSING AUTHO VAR                     | CUSIP: 24311PAF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4510209.60   | 0.15%             | 2028-09-01      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| CITY OF MILWAUKEE W 5.00%                     | CITY OF MILWAUKEE W 5.00%                     | CUSIP: 6023663V6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9480000 | PA      | $9969050.45   | 0.34%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF LEANDER TX 5.00%                      | CITY OF LEANDER TX 5.00%                      | CUSIP: 521838Y63<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1315762.75   | 0.04%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSP 5.00%                     | METROPOLITAN TRANSP 5.00%                     | CUSIP: 59261A5S2<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1120000 | PA      | $1163301.89   | 0.04%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA HOUSING DEV. VAR                     | VIRGINIA HOUSING DEV. VAR                     | CUSIP: 92812XRF1<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |   6315000 | PA      | $6315126.30   | 0.22%             | 2056-07-01      | Variable      | 3.13%                 | No            |                  2 | On Loan: No      |
| BURLESON INDEPENDEN 5.00%                     | BURLESON INDEPENDEN 5.00%                     | CUSIP: 1214034Q9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2230000 | PA      | $2302860.34   | 0.08%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAP. AMERIC 4.25%                     | HYUNDAI CAP. AMERIC 4.25%                     | CUSIP: 44891AED5<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4945203.50   | 0.17%             | 2029-01-08      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| SUMITOMO MITSUI FI 4.108%                     | SUMITOMO MITSUI FI 4.108%                     | CUSIP: 86562MEJ5<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |   3500000 | PA      | $3469379.45   | 0.12%             | 2029-01-15      | Fixed         | 4.11%                 | No            |                  2 | On Loan: No      |
| LADUE SCHOOL DISTR 2.125%                     | LADUE SCHOOL DISTR 2.125%                     | CUSIP: 505786HM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2310000 | PA      | $2268550.75   | 0.08%             | 2028-03-01      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL G VAR                     | MAIN STREET NATURAL G VAR                     | CUSIP: 56035DDP4<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   7500000 | PA      | $7483902.00   | 0.26%             | 2052-08-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| CITY OF LUBBOCK TX 5.00%                      | CITY OF LUBBOCK TX 5.00%                      | CUSIP: 549203YP6<br>LEI: 549300I1QTL3QZV4BX74 | Long             | DBT              | MUN               | US        |    675000 | PA      | $675621.07    | 0.02%             | 2026-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS STATE AFFORDABL VAR                     | TEXAS STATE AFFORDABL VAR                     | CUSIP: 88271FFR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3400000 | PA      | $3417036.38   | 0.12%             | 2045-01-01      | Variable      | 3.62%                 | No            |                  2 | On Loan: No      |
| MARYLAND HEALTH & H 5.00%                     | MARYLAND HEALTH & H 5.00%                     | CUSIP: 57421CNW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1032079.30   | 0.04%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HOUSING VAR                      | PENNSYLVANIA HOUSING VAR                      | CUSIP: 708797BP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1685000 | PA      | $1662146.35   | 0.06%             | 2029-09-01      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| CLARK COUNTY SCHOOL 5.00%                     | CLARK COUNTY SCHOOL 5.00%                     | CUSIP: 181059UY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1040000 | PA      | $1045249.40   | 0.04%             | 2026-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG/NEW FRN                      | DEUTSCHE BANK AG/NEW FRN                      | CUSIP: 251526CN7<br>LEI: N/A                  | Long             | DBT              | CORP              | DE        |   7500000 | PA      | $7520130.00   | 0.26%             | 2027-11-16      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| OHIO AIR QUALITY DEV. VAR                     | OHIO AIR QUALITY DEV. VAR                     | CUSIP: 677525WS2<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7089713.40   | 0.24%             | 2040-11-01      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| EAST CAROLINA UNIVE 5.00%                     | EAST CAROLINA UNIVE 5.00%                     | CUSIP: 271371XD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1225000 | PA      | $1227247.88   | 0.04%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA COUNTY IND 4.00%                     | OKLAHOMA COUNTY IND 4.00%                     | CUSIP: 678739XB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3425000 | PA      | $3468302.28   | 0.12%             | 2027-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTHORITY OF N 5.00%                     | PORT AUTHORITY OF N 5.00%                     | CUSIP: 73358XBZ4<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   3520000 | PA      | $3708142.24   | 0.13%             | 2028-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF NEW YORK NY 5.00%                     | CITY OF NEW YORK NY 5.00%                     | CUSIP: 64966SPV2<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10517835.00  | 0.36%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS COUNTY HOUSING VAR                     | HARRIS COUNTY HOUSING VAR                     | CUSIP: 414158TQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4150000 | PA      | $4133756.49   | 0.14%             | 2043-09-01      | Variable      | 2.95%                 | No            |                  2 | On Loan: No      |
| RURAL WATER FINC. A 2.75%                     | RURAL WATER FINC. A 2.75%                     | CUSIP: 781741JR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  32025000 | PA      | $31633971.55  | 1.08%             | 2028-05-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| CITY OF ATLANTA GA 5.00%                      | CITY OF ATLANTA GA 5.00%                      | CUSIP: 04780M2J7<br>LEI: 549300GHLQ0J51NUBM84 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4178610.80   | 0.14%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DOUGLAS COUNTY SCHO 5.00%                     | DOUGLAS COUNTY SCHO 5.00%                     | CUSIP: 259030RA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1850000 | PA      | $1939735.92   | 0.07%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDUSTRIAL DEV. AUTHO VAR                     | INDUSTRIAL DEV. AUTHO VAR                     | CUSIP: 721779LM6<br>LEI: 549300QDTQ25545R4K19 | Long             | DBT              | MUN               | US        |   7595000 | PA      | $7528499.70   | 0.26%             | 2059-10-01      | Variable      | 2.71%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY HOUSING 2.95%                      | NEW JERSEY HOUSING 2.95%                      | CUSIP: 64610ABG9<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |  16795000 | PA      | $16733970.33  | 0.57%             | 2028-11-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| SANTANDER COMMER. 4.0781%                     | SANTANDER COMMER. 4.0781%                     | CUSIP: 78398LAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2841144 | PA      | $2831716.20   | 0.10%             | 2028-01-15      | Variable      | 4.08%                 | Yes           |                  2 | On Loan: No      |
| MONROE & ST CLAIR C 5.00%                     | MONROE & ST CLAIR C 5.00%                     | CUSIP: 610253DS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1110000 | PA      | $1173309.07   | 0.04%             | 2029-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF NEW ORLEANS 5.00%                     | CITY OF NEW ORLEANS 5.00%                     | CUSIP: 64763FD30<br>LEI: 54930084B6KHR5PR2651 | Long             | DBT              | MUN               | US        |    500000 | PA      | $521494.60    | 0.02%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DTE ENERGY CO 4.875%                          | DTE ENERGY CO 4.875%                          | CUSIP: 233331BJ5<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |   4200000 | PA      | $4237697.60   | 0.14%             | 2028-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL 5.40%                     | GENERAL MOTORS FINL 5.40%                     | CUSIP: 37045XEQ5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5044027.85   | 0.17%             | 2027-05-08      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS LOCAL 5.00%                      | INDIANAPOLIS LOCAL 5.00%                      | CUSIP: 45528VDZ9<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |    780000 | PA      | $794964.38    | 0.03%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY STATE PROP 5.00%                     | KENTUCKY STATE PROP 5.00%                     | CUSIP: 49151F4P2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1569196.65   | 0.05%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLACKAMAS & WASHING 5.00%                     | CLACKAMAS & WASHING 5.00%                     | CUSIP: 178882QM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8310000 | PA      | $8548120.56   | 0.29%             | 2027-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTERN MICHIGAN UN 5.00%                     | WESTERN MICHIGAN UN 5.00%                     | CUSIP: 958638ZS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4595000 | PA      | $4754898.65   | 0.16%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF ALBUQUERQUE 5.00%                     | CITY OF ALBUQUERQUE 5.00%                     | CUSIP: 013519CG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1715000 | PA      | $1725493.74   | 0.06%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCKFORD PUBLIC SCH 5.00%                     | ROCKFORD PUBLIC SCH 5.00%                     | CUSIP: 773318XQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6185000 | PA      | $6196935.81   | 0.21%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF FORT BEND 5.00%                     | COUNTY OF FORT BEND 5.00%                     | CUSIP: 346766Z50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2765000 | PA      | $2824124.27   | 0.10%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CIVICVENTURES/AK 5.00%                        | CIVICVENTURES/AK 5.00%                        | CUSIP: 178860BZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    930000 | PA      | $957248.26    | 0.03%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PROSPER INDEPENDENT 5.00%                     | PROSPER INDEPENDENT 5.00%                     | CUSIP: 7436003V8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2110000 | PA      | $2153862.89   | 0.07%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTHORITY OF N 5.00%                     | PORT AUTHORITY OF N 5.00%                     | CUSIP: 73358XNG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  15005000 | PA      | $15438090.82  | 0.53%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE DORM 5.00%                     | NEW YORK STATE DORM 5.00%                     | CUSIP: 64990KHG1<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1047482.70   | 0.04%             | 2028-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RICHMOND COUNTY BOA 5.00%                     | RICHMOND COUNTY BOA 5.00%                     | CUSIP: 764581KQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11705000 | PA      | $12403549.72  | 0.42%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNIT 5.00%                     | CALIFORNIA COMMUNIT 5.00%                     | CUSIP: 13013JGS9<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1809229.98   | 0.06%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BONNEVILLE JOINT SC 5.00%                     | BONNEVILLE JOINT SC 5.00%                     | CUSIP: 098419NK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $530727.44    | 0.02%             | 2026-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GRP. IN F2F                     | GOLDMAN SACHS GRP. IN F2F                     | CUSIP: 38145GAP5<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9938295.00   | 0.34%             | 2029-01-21      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| BEXAR MGT. AND DEV. C VAR                     | BEXAR MGT. AND DEV. C VAR                     | CUSIP: 08857CAC4<br>LEI: 2549009KNEM1RHMCBG65 | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1585515.52   | 0.05%             | 2029-03-01      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| MINNESOTA HOUSING F 3.25%                     | MINNESOTA HOUSING F 3.25%                     | CUSIP: 60416UNU5<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   5875000 | PA      | $5880075.41   | 0.20%             | 2027-08-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CITY OF DALLAS TX 5.00%                       | CITY OF DALLAS TX 5.00%                       | CUSIP: 235219ZF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1160000 | PA      | $1198659.67   | 0.04%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO FIN. AUT 2.00%                     | NEW MEXICO FIN. AUT 2.00%                     | CUSIP: 64711NH81<br>LEI: 549300L6217Y7X40SP94 | Long             | DBT              | MUN               | US        |   4600000 | PA      | $4484327.48   | 0.15%             | 2028-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL PLAINS ENER 5.00%                     | CENTRAL PLAINS ENER 5.00%                     | CUSIP: 154871CC9<br>LEI: SVQOT7V5CPLIGNP5BE29 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1021308.10   | 0.03%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA COUNTY INDL. VAR                     | MARICOPA COUNTY INDL. VAR                     | CUSIP: 56682HDV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10393782.00  | 0.35%             | 2053-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| MERCEDES-BENZ AUTO 4.80%                      | MERCEDES-BENZ AUTO 4.80%                      | CUSIP: 587918AD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4044268 | PA      | $4062593.80   | 0.14%             | 2029-04-16      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| BMW VEHICLE LEASE T 5.00%                     | BMW VEHICLE LEASE T 5.00%                     | CUSIP: 05611UAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6100000 | PA      | $6118246.32   | 0.21%             | 2027-06-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLEVELAND COUNTY IN 4.00%                     | CLEVELAND COUNTY IN 4.00%                     | CUSIP: 186054JY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7440000 | PA      | $7614114.60   | 0.26%             | 2028-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA COUNTY UNI 5.00%                     | MARICOPA COUNTY UNI 5.00%                     | CUSIP: 567505SL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2265000 | PA      | $2335628.36   | 0.08%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JACKSON COUNTY CONS 6.00%                     | JACKSON COUNTY CONS 6.00%                     | CUSIP: 467484SK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2830000 | PA      | $2916439.24   | 0.10%             | 2027-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTHORITY OF N 5.00%                     | PORT AUTHORITY OF N 5.00%                     | CUSIP: 73358XRA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3867245.25   | 0.13%             | 2027-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHEMEKETA COMMUNITY 5.00%                     | CHEMEKETA COMMUNITY 5.00%                     | CUSIP: 163597JF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4210706.80   | 0.14%             | 2028-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SOMERVILLE 5.00%                      | CITY OF SOMERVILLE 5.00%                      | CUSIP: 835241MV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  13230000 | PA      | $13311648.95  | 0.45%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER COLORADO RIVE 5.00%                     | LOWER COLORADO RIVE 5.00%                     | CUSIP: 54811BS44<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2613970.75   | 0.09%             | 2028-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBIA VAR                      | DISTRICT OF COLUMBIA VAR                      | CUSIP: 25477PQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2499680.50   | 0.09%             | 2041-09-01      | Variable      | 2.87%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPT. O 5.00%                     | LOS ANGELES DEPT. O 5.00%                     | CUSIP: 544525Z92<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   6630000 | PA      | $6930767.30   | 0.24%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANSING SCHOOL DIST 5.00%                     | LANSING SCHOOL DIST 5.00%                     | CUSIP: 516444VD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    345000 | PA      | $353868.60    | 0.01%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO HOUSING FIN. AGE VAR                     | OHIO HOUSING FIN. AGE VAR                     | CUSIP: 676900YQ0<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |    900000 | PA      | $888803.82    | 0.03%             | 2029-07-01      | Variable      | 2.68%                 | No            |                  2 | On Loan: No      |
| KOOTENAI COUNTY SCH 4.00%                     | KOOTENAI COUNTY SCH 4.00%                     | CUSIP: 500548GK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3039244.80   | 0.10%             | 2027-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL G VAR                     | MAIN STREET NATURAL G VAR                     | CUSIP: 56035DEE8<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |  34565000 | PA      | $36063565.58  | 1.23%             | 2052-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF FORT BEND 5.00%                     | COUNTY OF FORT BEND 5.00%                     | CUSIP: 346766W38<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1535000 | PA      | $1567823.06   | 0.05%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HIDALGO COUNTY DRAI 5.00%                     | HIDALGO COUNTY DRAI 5.00%                     | CUSIP: 429335PJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1560000 | PA      | $1611868.60   | 0.06%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA HOUSI 3.55%                     | WEST VIRGINIA HOUSI 3.55%                     | CUSIP: 95662NLR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $475878.04    | 0.02%             | 2026-11-01      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE HOUS 3.625%                     | NEW HAMPSHIRE HOUS 3.625%                     | CUSIP: 64469MRK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.03%             | 2026-04-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN. AUTHORIT VAR                     | INDIANA FIN. AUTHORIT VAR                     | CUSIP: 455054BH8<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   5750000 | PA      | $5785770.75   | 0.20%             | 2031-03-01      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUNICIPAL VAR                      | CALIFORNIA MUNICIPAL VAR                      | CUSIP: 130483KM1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   2280000 | PA      | $2281013.69   | 0.08%             | 2056-01-01      | Variable      | 2.95%                 | No            |                  2 | On Loan: No      |
| WYOMING COMMUNITY D 3.05%                     | WYOMING COMMUNITY D 3.05%                     | CUSIP: 98322QC54<br>LEI: 549300UQ62NB8FGTHW65 | Long             | DBT              | MUN               | US        |   1030000 | PA      | $1031288.12   | 0.04%             | 2028-12-01      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| MINNESOTA HOUSING F 2.60%                     | MINNESOTA HOUSING F 2.60%                     | CUSIP: 60416UF67<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   2780000 | PA      | $2764790.06   | 0.09%             | 2027-08-01      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN. AUTHO 2.70%                     | ILLINOIS FIN. AUTHO 2.70%                     | CUSIP: 45203UAK9<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |  12000000 | PA      | $12000073.20  | 0.41%             | 2026-04-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| CITY OF AUSTIN TX A 5.00%                     | CITY OF AUSTIN TX A 5.00%                     | CUSIP: 052398HY3<br>LEI: IW10PQVTU7HKS3JMW253 | Long             | DBT              | MUN               | US        |    900000 | PA      | $911451.87    | 0.03%             | 2026-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA HOUSING FIN. VAR                      | FLORIDA HOUSING FIN. VAR                      | CUSIP: 34074HHS4<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |   9325000 | PA      | $9332934.64   | 0.32%             | 2044-12-01      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| LOUISIANA STATE CIT 5.00%                     | LOUISIANA STATE CIT 5.00%                     | CUSIP: 546456EF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  14700000 | PA      | $14754639.90  | 0.50%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT OF PORTLAND OR 5.00%                     | PORT OF PORTLAND OR 5.00%                     | CUSIP: 735240V75<br>LEI: 549300BRH7XZ3ZK0DS46 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1025557.10   | 0.04%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF AUSTIN TX A 5.00%                     | CITY OF AUSTIN TX A 5.00%                     | CUSIP: 052398JA3<br>LEI: IW10PQVTU7HKS3JMW253 | Long             | DBT              | MUN               | US        |   1525000 | PA      | $1600884.92   | 0.05%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPT. O 5.00%                     | LOS ANGELES DEPT. O 5.00%                     | CUSIP: 544525Z84<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   2675000 | PA      | $2753395.42   | 0.09%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL G VAR                     | MAIN STREET NATURAL G VAR                     | CUSIP: 56035DCZ3<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |  11045000 | PA      | $11156064.10  | 0.38%             | 2052-05-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO FRN                       | JPMORGAN CHASE & CO FRN                       | CUSIP: 46647PCQ7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |  11400000 | PA      | $11405898.82  | 0.39%             | 2027-09-22      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| JOHNSON CITY HEALTH & VAR                     | JOHNSON CITY HEALTH & VAR                     | CUSIP: 47827TAD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3014332.80   | 0.10%             | 2027-12-01      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| CARMAX AUTO OWNER T 4.92%                     | CARMAX AUTO OWNER T 4.92%                     | CUSIP: 14318WAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    732422 | PA      | $736501.44    | 0.03%             | 2028-10-16      | Fixed         | 4.92%                 | No            |                  2 | On Loan: No      |
| LIBERTY PUBLIC SCHO 4.00%                     | LIBERTY PUBLIC SCHO 4.00%                     | CUSIP: 18347AKS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2150000 | PA      | $2209246.69   | 0.08%             | 2028-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF BROWARD F 5.00%                     | COUNTY OF BROWARD F 5.00%                     | CUSIP: 11506KHD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007881.80   | 0.03%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORD CREDIT AUTO LE 5.05%                     | FORD CREDIT AUTO LE 5.05%                     | CUSIP: 345290AE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1001311.30   | 0.03%             | 2027-06-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECONOM 5.00%                     | PENNSYLVANIA ECONOM 5.00%                     | CUSIP: 70870JHC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3641596.70   | 0.12%             | 2028-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AU 5.00%                     | SOUTHEAST ENERGY AU 5.00%                     | CUSIP: 84136HCR2<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5195941.00   | 0.18%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WAYNE TOWNSHIP SCHO 5.00%                     | WAYNE TOWNSHIP SCHO 5.00%                     | CUSIP: 946363UD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1155000 | PA      | $1162254.32   | 0.04%             | 2026-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA COUNTY IND 3.25%                     | OKLAHOMA COUNTY IND 3.25%                     | CUSIP: 678705TN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  17375000 | PA      | $17436067.91  | 0.60%             | 2027-05-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASHIN 5.00%                     | METROPOLITAN WASHIN 5.00%                     | CUSIP: 592647NJ6<br>LEI: 7HERAVJJLN8J1DZ6AZ19 | Long             | DBT              | MUN               | US        |    550000 | PA      | $567195.20    | 0.02%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEE COUNTY SCHOOL B 5.00%                     | LEE COUNTY SCHOOL B 5.00%                     | CUSIP: 523494SK9<br>LEI: 54930014H67DITNA1Q29 | Long             | DBT              | MUN               | US        |   5350000 | PA      | $5633003.77   | 0.19%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF MILWAUKEE W 5.00%                     | CITY OF MILWAUKEE W 5.00%                     | CUSIP: 602366YK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2608265.50   | 0.09%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SPRINGFIELD SCHOOL 5.50%                      | SPRINGFIELD SCHOOL 5.50%                      | CUSIP: 851035VN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4214858.00   | 0.14%             | 2028-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO MTGE. FIN. VAR                     | NEW MEXICO MTGE. FIN. VAR                     | CUSIP: 64720AAC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9110000 | PA      | $9111479.46   | 0.31%             | 2057-09-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF BROWARD F 5.00%                     | COUNTY OF BROWARD F 5.00%                     | CUSIP: 11506KHE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1025495.90   | 0.04%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY HOUSING 2.95%                      | NEW JERSEY HOUSING 2.95%                      | CUSIP: 64610ABF1<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |   6875000 | PA      | $6866663.38   | 0.23%             | 2027-11-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| COUNTY OF BROWARD F 5.00%                     | COUNTY OF BROWARD F 5.00%                     | CUSIP: 11506KHF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2125000 | PA      | $2206201.78   | 0.08%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF YUMA AZ 5.00%                         | CITY OF YUMA AZ 5.00%                         | CUSIP: 98851WBR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    865000 | PA      | $870358.42    | 0.03%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PARISH OF LIVINGSTO 5.00%                     | PARISH OF LIVINGSTO 5.00%                     | CUSIP: 53880CAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5835000 | PA      | $6149702.56   | 0.21%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY HOUSING 2.90%                      | NEW JERSEY HOUSING 2.90%                      | CUSIP: 6461087M6<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3731448.38   | 0.13%             | 2027-11-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| COUNTY OF FORT BEND 5.00%                     | COUNTY OF FORT BEND 5.00%                     | CUSIP: 346766Z68<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3550000 | PA      | $3708533.42   | 0.13%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF FORT BEND 5.00%                     | COUNTY OF FORT BEND 5.00%                     | CUSIP: 346766T99<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    865000 | PA      | $903297.88    | 0.03%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF AUSTIN TX 5.00%                       | CITY OF AUSTIN TX 5.00%                       | CUSIP: 0523973D6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4140360.00   | 0.14%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER INDEPENDE 5.00%                     | LANCASTER INDEPENDE 5.00%                     | CUSIP: 514462T59<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    980000 | PA      | $999945.06    | 0.03%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TARRANT COUNTY CULT 5.00%                     | TARRANT COUNTY CULT 5.00%                     | CUSIP: 87638QUJ6<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |    870000 | PA      | $899665.35    | 0.03%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND HEALTH & H 5.00%                     | MARYLAND HEALTH & H 5.00%                     | CUSIP: 57421CNX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1035000 | PA      | $1088419.46   | 0.04%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOSP 5.00%                     | MICHIGAN STATE HOSP 5.00%                     | CUSIP: 59465HXQ4<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |    340000 | PA      | $348666.02    | 0.01%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PMA LEVY & AID ANTI 5.00%                     | PMA LEVY & AID ANTI 5.00%                     | CUSIP: 730146DP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1430000 | PA      | $1437275.41   | 0.05%             | 2026-06-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SPARTA AREA SCHOOLS 5.00%                     | SPARTA AREA SCHOOLS 5.00%                     | CUSIP: 846625NW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $272280.03    | 0.01%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA HOUSING FIN. VAR                      | FLORIDA HOUSING FIN. VAR                      | CUSIP: 34074HHF2<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3020019.90   | 0.10%             | 2058-07-01      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| DECATUR TOWNSHIP MU 5.00%                     | DECATUR TOWNSHIP MU 5.00%                     | CUSIP: 243360JB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1385000 | PA      | $1423576.27   | 0.05%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NOBLESVILLE SCHOOLS 6.00%                     | NOBLESVILLE SCHOOLS 6.00%                     | CUSIP: 655165DN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1635000 | PA      | $1752673.24   | 0.06%             | 2028-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO MIDWAY INTL 5.00%                     | CHICAGO MIDWAY INTL 5.00%                     | CUSIP: 167562UL9<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   3615000 | PA      | $3669944.75   | 0.13%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TIPPECANOE SCHOOL C 5.00%                     | TIPPECANOE SCHOOL C 5.00%                     | CUSIP: 887870FM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1635000 | PA      | $1663294.98   | 0.06%             | 2027-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS LOCAL 5.00%                      | INDIANAPOLIS LOCAL 5.00%                      | CUSIP: 45528VHB8<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2546437.75   | 0.09%             | 2027-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOSP 5.00%                     | MICHIGAN STATE HOSP 5.00%                     | CUSIP: 59465HXS0<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |    500000 | PA      | $531173.40    | 0.02%             | 2029-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORT WAYNE COMMUNIT 5.00%                     | FORT WAYNE COMMUNIT 5.00%                     | CUSIP: 349244HK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $753588.78    | 0.03%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ST CHARLES COUNTY P 5.00%                     | ST CHARLES COUNTY P 5.00%                     | CUSIP: 78764YFQ5<br>LEI: 54930038VJHZW7PR1R14 | Long             | DBT              | MUN               | US        |    765000 | PA      | $793699.05    | 0.03%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUNICIP 5.425%                     | CALIFORNIA MUNICIP 5.425%                     | CUSIP: 13048V5N4<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    350000 | PA      | $348788.13    | 0.01%             | 2028-09-01      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| COUNTY OF PIMA AZ 5.00%                       | COUNTY OF PIMA AZ 5.00%                       | CUSIP: 721664KP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2860000 | PA      | $2968338.23   | 0.10%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SCHOOL BOARD OF MIA 5.00%                     | SCHOOL BOARD OF MIA 5.00%                     | CUSIP: 59333MW76<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8840000 | PA      | $9071166.88   | 0.31%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WYANDOTTE COUNTY-KA 4.00%                     | WYANDOTTE COUNTY-KA 4.00%                     | CUSIP: 98267ADF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2065000 | PA      | $2103874.86   | 0.07%             | 2027-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF LUZERNE P 5.00%                     | COUNTY OF LUZERNE P 5.00%                     | CUSIP: 550697WQ5<br>LEI: 5493001Z1Y4QDISEER29 | Long             | DBT              | MUN               | US        |   2380000 | PA      | $2447022.47   | 0.08%             | 2027-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROANOKE ECONOMIC DE 5.00%                     | ROANOKE ECONOMIC DE 5.00%                     | CUSIP: 770082CE3<br>LEI: 549300P5QQORJY0U4T83 | Long             | DBT              | MUN               | US        |   1010000 | PA      | $1015666.50   | 0.03%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO MIDWAY INTL 5.00%                     | CHICAGO MIDWAY INTL 5.00%                     | CUSIP: 167562UM7<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1565000 | PA      | $1619199.71   | 0.06%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN. AUTHORI VAR                     | ILLINOIS FIN. AUTHORI VAR                     | CUSIP: 45204FTD7<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1490000 | PA      | $1523166.66   | 0.05%             | 2052-08-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA HOUSING FIN. VAR                      | FLORIDA HOUSING FIN. VAR                      | CUSIP: 34074HHY1<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |   7750000 | PA      | $7760375.70   | 0.26%             | 2044-01-01      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| STATE OF OHIO 5.00%                           | STATE OF OHIO 5.00%                           | CUSIP: 677523RG9<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   5245000 | PA      | $5512246.91   | 0.19%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANS 5.00%                     | NEW YORK CITY TRANS 5.00%                     | CUSIP: 64972JA99<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2349562.28   | 0.08%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA HOUSING VAR                     | WEST VIRGINIA HOUSING VAR                     | CUSIP: 956629AK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3300000 | PA      | $3291784.32   | 0.11%             | 2028-11-01      | Variable      | 2.87%                 | No            |                  2 | On Loan: No      |
| COUNTY OF HAYS TX 5.00%                       | COUNTY OF HAYS TX 5.00%                       | CUSIP: 4210202G2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $417313.20    | 0.01%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF ECTOR TX 5.00%                      | COUNTY OF ECTOR TX 5.00%                      | CUSIP: 279245KA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3105000 | PA      | $3169547.05   | 0.11%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND COUNTY IND VAR                     | CUMBERLAND COUNTY IND VAR                     | CUSIP: 230589AB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  20500000 | PA      | $20502111.50  | 0.70%             | 2027-12-01      | Variable      | 3.13%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA INFRA. & E VAR                     | CALIFORNIA INFRA. & E VAR                     | CUSIP: 13034A7F1<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |  30000000 | PA      | $30014157.00  | 1.02%             | 2065-01-01      | Variable      | 3.50%                 | Yes           |                  2 | On Loan: No      |
| KANE COUNTY COMMUNI 5.00%                     | KANE COUNTY COMMUNI 5.00%                     | CUSIP: 484026NQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2725000 | PA      | $2836395.28   | 0.10%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANS 5.00%                     | NEW YORK CITY TRANS 5.00%                     | CUSIP: 64972JB23<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2662221.00   | 0.09%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF HAYS TX 5.00%                       | COUNTY OF HAYS TX 5.00%                       | CUSIP: 421020Y44<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    635000 | PA      | $674507.03    | 0.02%             | 2029-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN MUNICIPAL 5.00%                      | AMERICAN MUNICIPAL 5.00%                      | CUSIP: 02765URP1<br>LEI: EARKGGZJJEMVD66XQ486 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10395387.00  | 0.35%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW ALBANY-FLOYD CO 5.00%                     | NEW ALBANY-FLOYD CO 5.00%                     | CUSIP: 641667SA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1725000 | PA      | $1773710.72   | 0.06%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SNOHOMISH COUNTY SC 5.00%                     | SNOHOMISH COUNTY SC 5.00%                     | CUSIP: 833221WY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2525000 | PA      | $2566963.99   | 0.09%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY STATE PROP 5.00%                     | KENTUCKY STATE PROP 5.00%                     | CUSIP: 49151F5Y2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3167546.10   | 0.11%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SAN ANTONIO 5.00%                     | CITY OF SAN ANTONIO 5.00%                     | CUSIP: 79625GMH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8200000 | PA      | $8547836.62   | 0.29%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF GLENDALE AZ 5.00%                     | CITY OF GLENDALE AZ 5.00%                     | CUSIP: 378352RY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3018204.60   | 0.10%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF GARLAND TX 5.00%                      | CITY OF GARLAND TX 5.00%                      | CUSIP: 366120FR9<br>LEI: 549300O5KXJ5HAWVEN53 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020264.90   | 0.03%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF SANTA BAR 5.00%                     | COUNTY OF SANTA BAR 5.00%                     | CUSIP: 80136PCL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1195000 | PA      | $1233738.08   | 0.04%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF LOS ANGELES 5.00%                     | CITY OF LOS ANGELES 5.00%                     | CUSIP: 544445XR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4530000 | PA      | $4731285.57   | 0.16%             | 2028-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WAYNE COUNTY AIRPOR 5.00%                     | WAYNE COUNTY AIRPOR 5.00%                     | CUSIP: 9445142S6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7750000 | PA      | $8133335.15   | 0.28%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| USF FINC. CORP 5.00%                          | USF FINC. CORP 5.00%                          | CUSIP: 90343SBL8<br>LEI: 549300P9Y92T23EMUI42 | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1191554.44   | 0.04%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HUMBLE INDEPENDENT 5.00%                      | HUMBLE INDEPENDENT 5.00%                      | CUSIP: 445047QE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2040000 | PA      | $2168183.81   | 0.07%             | 2029-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF HOUSTON TX 5.00%                      | CITY OF HOUSTON TX 5.00%                      | CUSIP: 442349JA5<br>LEI: 549300C64URYS0WQQY42 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1561985.85   | 0.05%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA HEALTH 5.00%                     | SOUTH DAKOTA HEALTH 5.00%                     | CUSIP: 83755VZ72<br>LEI: 549300ZW6LKR8UI2C378 | Long             | DBT              | MUN               | US        |   1075000 | PA      | $1107688.49   | 0.04%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GRAND RAPIDS PUBLIC 5.00%                     | GRAND RAPIDS PUBLIC 5.00%                     | CUSIP: 386280SS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3965000 | PA      | $4061350.29   | 0.14%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS HOUSING DEV. VAR                     | ILLINOIS HOUSING DEV. VAR                     | CUSIP: 45203LFV0<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1742633.03   | 0.06%             | 2029-04-01      | Variable      | 2.80%                 | No            |                  2 | On Loan: No      |
| KANSAS DEV. FIN. AUTH VAR                     | KANSAS DEV. FIN. AUTH VAR                     | CUSIP: 48542AFH9<br>LEI: 549300WTL7BL8KBDPR87 | Long             | DBT              | MUN               | US        |   4130000 | PA      | $4353780.75   | 0.15%             | 2054-11-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF TEXAS 5.00%                          | STATE OF TEXAS 5.00%                          | CUSIP: 882725CS1<br>LEI: 549300X9CH74QB747L76 | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7409028.20   | 0.25%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TARRANT COUNTY CULT 5.00%                     | TARRANT COUNTY CULT 5.00%                     | CUSIP: 87638QTM1<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   2150000 | PA      | $2276504.71   | 0.08%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF HAYS TX 5.00%                       | COUNTY OF HAYS TX 5.00%                       | CUSIP: 4210202H0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    655000 | PA      | $695751.35    | 0.02%             | 2029-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORT WAYNE COMMUNIT 5.00%                     | FORT WAYNE COMMUNIT 5.00%                     | CUSIP: 349244HM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $423579.16    | 0.01%             | 2029-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SARASOTA COUNTY SCH 5.00%                     | SARASOTA COUNTY SCH 5.00%                     | CUSIP: 80330QDE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1383201.05   | 0.05%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALASKA HOUSING FIN. 5.00%                     | ALASKA HOUSING FIN. 5.00%                     | CUSIP: 011839XJ1<br>LEI: 549300HJ8NOJNYW6ER36 | Long             | DBT              | MUN               | US        |   2605000 | PA      | $2673364.32   | 0.09%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA RES. AUTHO 5.00%                     | VIRGINIA RES. AUTHO 5.00%                     | CUSIP: 92818PF81<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2095000 | PA      | $2176862.54   | 0.07%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF DANE WI 5.00%                       | COUNTY OF DANE WI 5.00%                       | CUSIP: 236092LR1<br>LEI: 5493000I57K3U1SCHU17 | Long             | DBT              | MUN               | US        |   4560000 | PA      | $4664738.18   | 0.16%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PERRY TOWNSHIP SCHO 5.00%                     | PERRY TOWNSHIP SCHO 5.00%                     | CUSIP: 715000CF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1358479.08   | 0.05%             | 2026-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF AUSTIN TX A 5.00%                     | CITY OF AUSTIN TX A 5.00%                     | CUSIP: 052398HZ0<br>LEI: IW10PQVTU7HKS3JMW253 | Long             | DBT              | MUN               | US        |   1425000 | PA      | $1471145.78   | 0.05%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TROY SCHOOL DISTRIC 5.00%                     | TROY SCHOOL DISTRIC 5.00%                     | CUSIP: 897404UE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1535000 | PA      | $1639961.00   | 0.06%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN. AUTH ADJ                        | MICHIGAN FIN. AUTH ADJ                        | CUSIP: 59447T3W1<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |  15000000 | PA      | $14968707.00  | 0.51%             | 2047-04-15      | Floating      | 3.17%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE HOUSI 3.80%                     | NEW HAMPSHIRE HOUSI 3.80%                     | CUSIP: 64469MQL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000583.00   | 0.03%             | 2026-07-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| CHICAGO TRANSIT AUT 5.00%                     | CHICAGO TRANSIT AUT 5.00%                     | CUSIP: 16772PDV5<br>LEI: 549300CB8XLRGIPN3E12 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2331795.38   | 0.08%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DUPAGE COUNTY FORES 5.00%                     | DUPAGE COUNTY FORES 5.00%                     | CUSIP: 262651VH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1658420.32   | 0.06%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF JACKSONVILL 5.00%                     | CITY OF JACKSONVILL 5.00%                     | CUSIP: 469487QC9<br>LEI: 549300XQE0JVN9WV0J40 | Long             | DBT              | MUN               | US        |   8650000 | PA      | $8752211.86   | 0.30%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MORROW COUNTY SCHOO 5.00%                     | MORROW COUNTY SCHOO 5.00%                     | CUSIP: 618890DD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1416058.88   | 0.05%             | 2027-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN. AUTHO 5.00%                     | MICHIGAN FIN. AUTHO 5.00%                     | CUSIP: 59447UAG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2645000 | PA      | $2782067.60   | 0.09%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF OHIO 5.00%                           | STATE OF OHIO 5.00%                           | CUSIP: 67756CGH5<br>LEI: P35YK5QO6QSHOB2Y1B40 | Long             | DBT              | MUN               | US        |   2160000 | PA      | $2192981.69   | 0.07%             | 2027-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF POLK FL 5.00%                       | COUNTY OF POLK FL 5.00%                       | CUSIP: 731124CD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    795000 | PA      | $808153.99    | 0.03%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY OF OKLAH 5.00%                     | UNIVERSITY OF OKLAH 5.00%                     | CUSIP: 91476PD88<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $377274.60    | 0.01%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HILLSBOROUGH COUNTY H VAR                     | HILLSBOROUGH COUNTY H VAR                     | CUSIP: 43232EDG1<br>LEI: 5493003JJ1KK4FWWU787 | Long             | DBT              | MUN               | US        |   2605000 | PA      | $2608079.11   | 0.09%             | 2028-12-01      | Variable      | 3.13%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO MTGE. FIN. VAR                     | NEW MEXICO MTGE. FIN. VAR                     | CUSIP: 64719HET3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1999930.20   | 0.07%             | 2042-02-01      | Variable      | 2.92%                 | No            |                  2 | On Loan: No      |
| PALM BEACH COUNTY HOU VAR                     | PALM BEACH COUNTY HOU VAR                     | CUSIP: 69651MAT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1525000 | PA      | $1501170.50   | 0.05%             | 2030-02-01      | Variable      | 2.90%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STRAT. FUN 5.00%                     | MICHIGAN STRAT. FUN 5.00%                     | CUSIP: 594698TG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3090000 | PA      | $3141353.95   | 0.11%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS WATER DEV. BO 5.00%                     | TEXAS WATER DEV. BO 5.00%                     | CUSIP: 882854T77<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3865000 | PA      | $3896306.89   | 0.13%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF ILLINOIS 3.25%                       | STATE OF ILLINOIS 3.25%                       | CUSIP: 452152Q53<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   6855000 | PA      | $6872889.49   | 0.23%             | 2026-11-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CARMEL CLAY SCHOOLS 5.00%                     | CARMEL CLAY SCHOOLS 5.00%                     | CUSIP: 143267GT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2405000 | PA      | $2449274.61   | 0.08%             | 2027-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH WEST HENDRICK 5.00%                     | NORTH WEST HENDRICK 5.00%                     | CUSIP: 66328RDW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $730990.33    | 0.02%             | 2028-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTMORELAND COUNTY 5.00%                     | WESTMORELAND COUNTY 5.00%                     | CUSIP: 961017SL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1830000 | PA      | $1884449.09   | 0.06%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTICA COMMUNITY SCH 5.00%                     | UTICA COMMUNITY SCH 5.00%                     | CUSIP: 9176612N9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1782056.96   | 0.06%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GUTHRIE COUNTY HOSP 4.50%                     | GUTHRIE COUNTY HOSP 4.50%                     | CUSIP: 40341HAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1999470.20   | 0.07%             | 2029-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA TURN 5.00%                     | NORTH CAROLINA TURN 5.00%                     | CUSIP: 65830RBX6<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |   2395000 | PA      | $2520042.95   | 0.09%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MANATEE COUNTY SCHO 5.00%                     | MANATEE COUNTY SCHO 5.00%                     | CUSIP: 56185NHH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    595000 | PA      | $625118.60    | 0.02%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HEALTH & EDUCATIONAL VAR                      | HEALTH & EDUCATIONAL VAR                      | CUSIP: 60637ATR3<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |  17500000 | PA      | $18283042.75  | 0.62%             | 2052-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPT. O 5.00%                     | LOS ANGELES DEPT. O 5.00%                     | CUSIP: 544532CS1<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   6270000 | PA      | $6294246.72   | 0.21%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH VAR                     | SOUTHEAST ENERGY AUTH VAR                     | CUSIP: 84136FBB2<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |  10600000 | PA      | $10981887.26  | 0.37%             | 2053-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA HOUSI 3.50%                     | WEST VIRGINIA HOUSI 3.50%                     | CUSIP: 95662NLQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500121.10    | 0.02%             | 2026-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSP 5.00%                     | METROPOLITAN TRANSP 5.00%                     | CUSIP: 59261AWY9<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   2675000 | PA      | $2778421.92   | 0.09%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLLIN COUNTY COMMU 5.00%                     | COLLIN COUNTY COMMU 5.00%                     | CUSIP: 194742FL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5580000 | PA      | $5758238.03   | 0.20%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF CHICAGO IL 5.00%                      | CITY OF CHICAGO IL 5.00%                      | CUSIP: 167727YW0<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2339796.90   | 0.08%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA HEALTH 5.00%                     | SOUTH DAKOTA HEALTH 5.00%                     | CUSIP: 83755VV27<br>LEI: 549300ZW6LKR8UI2C378 | Long             | DBT              | MUN               | US        |   1165000 | PA      | $1225536.31   | 0.04%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF PHILADELPHI 5.00%                     | CITY OF PHILADELPHI 5.00%                     | CUSIP: 717817YH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    860000 | PA      | $898401.32    | 0.03%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DEL VALLE INDEPENDE 5.00%                     | DEL VALLE INDEPENDE 5.00%                     | CUSIP: 245505YR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    795000 | PA      | $799178.60    | 0.03%             | 2026-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF LUZERNE P 5.00%                     | COUNTY OF LUZERNE P 5.00%                     | CUSIP: 550697WP7<br>LEI: 5493001Z1Y4QDISEER29 | Long             | DBT              | MUN               | US        |    200000 | PA      | $200971.54    | 0.01%             | 2026-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF LUZERNE P 5.00%                     | COUNTY OF LUZERNE P 5.00%                     | CUSIP: 550697WR3<br>LEI: 5493001Z1Y4QDISEER29 | Long             | DBT              | MUN               | US        |   3490000 | PA      | $3666008.03   | 0.13%             | 2028-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF OHIO 5.00%                           | STATE OF OHIO 5.00%                           | CUSIP: 67756CGJ1<br>LEI: P35YK5QO6QSHOB2Y1B40 | Long             | DBT              | MUN               | US        |   6240000 | PA      | $6454058.83   | 0.22%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW ALBANY-FLOYD CO 5.00%                     | NEW ALBANY-FLOYD CO 5.00%                     | CUSIP: 641667RZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4905000 | PA      | $4990657.98   | 0.17%             | 2027-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN GOV. NAS VAR                     | METROPOLITAN GOV. NAS VAR                     | CUSIP: 592113CW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2240000 | PA      | $2243759.17   | 0.08%             | 2042-12-01      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| UTICA COMMUNITY SCH 5.00%                     | UTICA COMMUNITY SCH 5.00%                     | CUSIP: 9176612P4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $800136.90    | 0.03%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ADAMS COUNTY SCHOOL 5.00%                     | ADAMS COUNTY SCHOOL 5.00%                     | CUSIP: 005824LQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $305256.48    | 0.01%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC AUTHORITY FO 6.25%                     | PUBLIC AUTHORITY FO 6.25%                     | CUSIP: 744387AC5<br>LEI: 549300C6IJKXQOMRAB11 | Long             | DBT              | MUN               | US        |   5225000 | PA      | $5466037.09   | 0.19%             | 2028-11-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBI 5.00%                     | DISTRICT OF COLUMBI 5.00%                     | CUSIP: 25476FUA4<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   2175000 | PA      | $2235306.01   | 0.08%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS VAR                     | BLACK BELT ENERGY GAS VAR                     | CUSIP: 09182TCR6<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |  20040000 | PA      | $21070552.99  | 0.72%             | 2049-06-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| LANCASTER COUNTY PU 5.00%                     | LANCASTER COUNTY PU 5.00%                     | CUSIP: 514116AC6<br>LEI: 5493004EFQNI7UOCFI47 | Long             | DBT              | MUN               | US        |    375000 | PA      | $376482.15    | 0.01%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER COLORADO RIVE 5.00%                     | LOWER COLORADO RIVE 5.00%                     | CUSIP: 54811BP39<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4105584.00   | 0.14%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROANOKE ECONOMIC DE 5.00%                     | ROANOKE ECONOMIC DE 5.00%                     | CUSIP: 770082CF0<br>LEI: 549300P5QQORJY0U4T83 | Long             | DBT              | MUN               | US        |    800000 | PA      | $821838.96    | 0.03%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW ALBANY-FLOYD CO 5.00%                     | NEW ALBANY-FLOYD CO 5.00%                     | CUSIP: 641667RY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1490000 | PA      | $1499575.49   | 0.05%             | 2026-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOSP 5.00%                     | MICHIGAN STATE HOSP 5.00%                     | CUSIP: 59465HXR2<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |    795000 | PA      | $830358.42    | 0.03%             | 2028-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ADAMS COUNTY SCHOOL 5.00%                     | ADAMS COUNTY SCHOOL 5.00%                     | CUSIP: 005824LR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    355000 | PA      | $368427.45    | 0.01%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ST CHARLES COUNTY P 5.00%                     | ST CHARLES COUNTY P 5.00%                     | CUSIP: 78764YFP7<br>LEI: 54930038VJHZW7PR1R14 | Long             | DBT              | MUN               | US        |    900000 | PA      | $913804.11    | 0.03%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DICKSON HEALTH & EDUC VAR                     | DICKSON HEALTH & EDUC VAR                     | CUSIP: 253509AC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5002713.00   | 0.17%             | 2044-04-01      | Variable      | 3.05%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPT. O 5.00%                     | LOS ANGELES DEPT. O 5.00%                     | CUSIP: 5444952C7<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   3180000 | PA      | $3235034.03   | 0.11%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT OF SEATTLE WA 5.00%                      | PORT OF SEATTLE WA 5.00%                      | CUSIP: 735389G69<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   2055000 | PA      | $2139144.85   | 0.07%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA PUBL 5.00%                     | SOUTH CAROLINA PUBL 5.00%                     | CUSIP: 8371515X3<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   4395000 | PA      | $4465664.57   | 0.15%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF MANHATTAN K 4.00%                     | CITY OF MANHATTAN K 4.00%                     | CUSIP: 562895XX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  19150000 | PA      | $19189341.76  | 0.65%             | 2028-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PAULDING COUNTY SCH 5.00%                     | PAULDING COUNTY SCH 5.00%                     | CUSIP: 703600GF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3060831.00   | 0.10%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MID-BAY BRIDGE AUTH 5.00%                     | MID-BAY BRIDGE AUTH 5.00%                     | CUSIP: 342814ED8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1752415.08   | 0.06%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPT. O 5.00%                     | LOS ANGELES DEPT. O 5.00%                     | CUSIP: 544532GJ7<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   1990000 | PA      | $1999309.82   | 0.07%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA CAPITOL IM 5.00%                     | OKLAHOMA CAPITOL IM 5.00%                     | CUSIP: 678514DT4<br>LEI: 549300LYHYBINTZ5AY71 | Long             | DBT              | MUN               | US        |    510000 | PA      | $537574.32    | 0.02%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FRISCO INDEPENDENT 5.00%                      | FRISCO INDEPENDENT 5.00%                      | CUSIP: 35880C2Q6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4850000 | PA      | $5070804.50   | 0.17%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FRASER PUBLIC SCHOO 5.00%                     | FRASER PUBLIC SCHOO 5.00%                     | CUSIP: 355514PY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2850000 | PA      | $2921103.80   | 0.10%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FAC 5.00%                     | COLORADO HEALTH FAC 5.00%                     | CUSIP: 19648FKD5<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5142673.00   | 0.18%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPT. O 5.00%                     | LOS ANGELES DEPT. O 5.00%                     | CUSIP: 5444954E1<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   1930000 | PA      | $1939029.12   | 0.07%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TULSA COUNTY INDL. 5.00%                      | TULSA COUNTY INDL. 5.00%                      | CUSIP: 89952PFD2<br>LEI: 549300WEYXBXLGN1E271 | Long             | DBT              | MUN               | US        |   8480000 | PA      | $8742550.98   | 0.30%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPT. O 5.00%                     | LOS ANGELES DEPT. O 5.00%                     | CUSIP: 5444957D0<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   2225000 | PA      | $2288263.43   | 0.08%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN MUNICIPAL 5.00%                      | AMERICAN MUNICIPAL 5.00%                      | CUSIP: 02765URN6<br>LEI: EARKGGZJJEMVD66XQ486 | Long             | DBT              | MUN               | US        |   6765000 | PA      | $6891432.44   | 0.24%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DUVAL COUNTY PUBLIC 5.00%                     | DUVAL COUNTY PUBLIC 5.00%                     | CUSIP: 267169HM5<br>LEI: 254900RS6MO5WEO2WC42 | Long             | DBT              | MUN               | US        |   2850000 | PA      | $2934912.90   | 0.10%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAKE COUNTY SCHOOL 5.00%                      | LAKE COUNTY SCHOOL 5.00%                      | CUSIP: 50825JLZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1188131.62   | 0.04%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON & MULTNO 5.00%                     | WASHINGTON & MULTNO 5.00%                     | CUSIP: 9384292Y2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1355000 | PA      | $1426974.35   | 0.05%             | 2028-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRISTOL WARREN REGI 5.00%                     | BRISTOL WARREN REGI 5.00%                     | CUSIP: 110377DP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  25000000 | PA      | $25099660.00  | 0.86%             | 2026-06-04      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ASSET LIAB 5.00%                     | KENTUCKY ASSET LIAB 5.00%                     | CUSIP: 49118NGE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6290000 | PA      | $6347731.51   | 0.22%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MULTNOMAH COUNTY SC 5.00%                     | MULTNOMAH COUNTY SC 5.00%                     | CUSIP: 625574QE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    695000 | PA      | $729317.64    | 0.02%             | 2028-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MID-BAY BRIDGE AUTH 5.00%                     | MID-BAY BRIDGE AUTH 5.00%                     | CUSIP: 342814EC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3284242.98   | 0.11%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-ST PAUL 5.00%                     | MINNEAPOLIS-ST PAUL 5.00%                     | CUSIP: 603827WT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11705000 | PA      | $11901998.66  | 0.41%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPT. O 5.00%                     | LOS ANGELES DEPT. O 5.00%                     | CUSIP: 544532AT1<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   4035000 | PA      | $4053876.94   | 0.14%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAKE COUNTY SCHOOL 5.00%                      | LAKE COUNTY SCHOOL 5.00%                      | CUSIP: 50825JLY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1945000 | PA      | $1995342.05   | 0.07%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF WILLIAMSO 5.00%                     | COUNTY OF WILLIAMSO 5.00%                     | CUSIP: 969888CX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $919101.96    | 0.03%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLIFTON HIGHER EDUC 5.00%                     | CLIFTON HIGHER EDUC 5.00%                     | CUSIP: 187145UV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3056615.40   | 0.10%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI JOINT MUNI 5.00%                     | MISSOURI JOINT MUNI 5.00%                     | CUSIP: 606092PY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3885000 | PA      | $3942568.32   | 0.13%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OREGON STATE LOTTER 5.00%                     | OREGON STATE LOTTER 5.00%                     | CUSIP: 68607V5Z4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5124573.00   | 0.17%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SCHOOL DISTRICT OF 5.00%                      | SCHOOL DISTRICT OF 5.00%                      | CUSIP: 115065E26<br>LEI: 5493006KVNQDJ1D0OD92 | Long             | DBT              | MUN               | US        |   6710000 | PA      | $7047196.96   | 0.24%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MADISON METROPOLITA 5.00%                     | MADISON METROPOLITA 5.00%                     | CUSIP: 558495QK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2560000 | PA      | $2676183.30   | 0.09%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF MOORHEAD MN 4.00%                     | CITY OF MOORHEAD MN 4.00%                     | CUSIP: 616142WS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  18845000 | PA      | $19078227.60  | 0.65%             | 2027-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPT. O 5.00%                     | LOS ANGELES DEPT. O 5.00%                     | CUSIP: 5444954F8<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   3040000 | PA      | $3126436.32   | 0.11%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PALM BEACH COUNTY S 5.00%                     | PALM BEACH COUNTY S 5.00%                     | CUSIP: 696550L83<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4675000 | PA      | $4825188.58   | 0.16%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPT. O 5.00%                     | LOS ANGELES DEPT. O 5.00%                     | CUSIP: 5444954Z4<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   2600000 | PA      | $2610054.46   | 0.09%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN. AUTHOR 5.00%                     | INDIANA FIN. AUTHOR 5.00%                     | CUSIP: 45506EMR1<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   2710000 | PA      | $2816546.90   | 0.10%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MULTNOMAH COUNTY SC 5.00%                     | MULTNOMAH COUNTY SC 5.00%                     | CUSIP: 625574QD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4680000 | PA      | $4806779.33   | 0.16%             | 2027-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SPRINGFIELD 5.00%                     | CITY OF SPRINGFIELD 5.00%                     | CUSIP: 850578TX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3220000 | PA      | $3284670.80   | 0.11%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY TURNPIKE 5.00%                     | NEW JERSEY TURNPIKE 5.00%                     | CUSIP: 646140JK0<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   3485000 | PA      | $3636121.80   | 0.12%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KUBOTA CREDIT OWNER 4.61%                     | KUBOTA CREDIT OWNER 4.61%                     | CUSIP: 50117FAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2010238 | PA      | $2014951.04   | 0.07%             | 2027-12-15      | Fixed         | 4.61%                 | Yes           |                  2 | On Loan: No      |
| SANTANDER HLDGS. USA FRN                      | SANTANDER HLDGS. USA FRN                      | CUSIP: 80282KBP0<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $20155703.80  | 0.69%             | 2029-03-20      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FIN. 4.25%                     | AMERICAN HONDA FIN. 4.25%                     | CUSIP: 02665WGK1<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9917211.30   | 0.34%             | 2028-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN. AUTHORI 5.00%                     | PUBLIC FIN. AUTHORI 5.00%                     | CUSIP: 74443DMR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $564317.49    | 0.02%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SEASONED LOANS STRU 3.50%                     | SEASONED LOANS STRU 3.50%                     | CUSIP: 35564CAN7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   5796680 | PA      | $5690456.66   | 0.19%             | 2028-11-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY CARD FNDG 5.04%                     | SYNCHRONY CARD FNDG 5.04%                     | CUSIP: 87166PAM3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2250000 | PA      | $2269685.03   | 0.08%             | 2030-03-15      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP. 6.45%                     | AERCAP IRELAND CAP. 6.45%                     | CUSIP: 00774MBG9<br>LEI: 549300TI38531ODB1G63 | Long             | DBT              | CORP              | IE        |   5000000 | PA      | $5094118.90   | 0.17%             | 2027-04-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| HSBC HLDGS. PLC FRN                           | HSBC HLDGS. PLC FRN                           | CUSIP: 404280ET2<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   6000000 | PA      | $6015900.00   | 0.21%             | 2029-03-03      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| BMW US CAP. LLC FRN                           | BMW US CAP. LLC FRN                           | CUSIP: 05565EDE2<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1699997.16   | 0.06%             | 2027-08-11      | Floating      | 4.38%                 | Yes           |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA/T F2F                     | BANK OF NOVA SCOTIA/T F2F                     | CUSIP: 06418GAU1<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |  24500000 | PA      | $24343981.55  | 0.83%             | 2028-09-15      | Fixed         | 4.04%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GRP. OF 4.45%                      | VOLKSWAGEN GRP. OF 4.45%                      | CUSIP: 928668CV2<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |  12300000 | PA      | $12263956.08  | 0.42%             | 2027-09-11      | Fixed         | 4.45%                 | Yes           |                  2 | On Loan: No      |
| MICHIGAN STATE HOSP 5.00%                     | MICHIGAN STATE HOSP 5.00%                     | CUSIP: 59465HYE0<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |    295000 | PA      | $308120.42    | 0.01%             | 2028-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONMOUTH COUNTY IMP 4.00%                     | MONMOUTH COUNTY IMP 4.00%                     | CUSIP: 60956PV41<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2995000 | PA      | $3036373.53   | 0.10%             | 2027-03-12      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PK ALIFT LOAN FNDG. 4.75%                     | PK ALIFT LOAN FNDG. 4.75%                     | CUSIP: 69291NAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4151324 | PA      | $4130814.72   | 0.14%             | 2043-03-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| MICHIGAN STATE HOSP 5.00%                     | MICHIGAN STATE HOSP 5.00%                     | CUSIP: 59465HYF7<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |    425000 | PA      | $451497.39    | 0.02%             | 2029-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WF CARD ISSUANCE TR 4.94%                     | WF CARD ISSUANCE TR 4.94%                     | CUSIP: 92970QAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $5040584.00   | 0.17%             | 2029-02-15      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| SANTANDER DRIVE AUT 5.14%                     | SANTANDER DRIVE AUT 5.14%                     | CUSIP: 802920AG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6545000 | PA      | $6580544.59   | 0.22%             | 2032-02-17      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| PAGAYA AI DEBT GRA 5.008%                     | PAGAYA AI DEBT GRA 5.008%                     | CUSIP: 69549BAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2399779 | PA      | $2388588.17   | 0.08%             | 2033-04-15      | Fixed         | 5.01%                 | Yes           |                  2 | On Loan: No      |
| WASHINGTON HEALTH C 5.00%                     | WASHINGTON HEALTH C 5.00%                     | CUSIP: 93978HUS2<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |   1865000 | PA      | $1920533.36   | 0.07%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARSH & MCLENNAN COS FRN                      | MARSH & MCLENNAN COS FRN                      | CUSIP: 571748BZ4<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |   3530000 | PA      | $3537448.69   | 0.12%             | 2027-11-08      | Floating      | 4.37%                 | No            |                  2 | On Loan: —       |
| CITIGROUP INC FRN                             | CITIGROUP INC FRN                             | CUSIP: 17327CAX1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  12900000 | PA      | $12900129.00  | 0.44%             | 2029-03-04      | Floating      | 4.52%                 | No            |                  2 | On Loan: No      |
| HUMBLE INDEPENDENT 5.00%                      | HUMBLE INDEPENDENT 5.00%                      | CUSIP: 445047QD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1412978.72   | 0.05%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLEVELAND COUNTY IN 4.00%                     | CLEVELAND COUNTY IN 4.00%                     | CUSIP: 186072UB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    680000 | PA      | $703770.76    | 0.02%             | 2029-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HCA INC 5.00%                                 | HCA INC 5.00%                                 | CUSIP: 404119CY3<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   3470000 | PA      | $3504028.73   | 0.12%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON NATL. BANK F2F                     | HUNTINGTON NATL. BANK F2F                     | CUSIP: 44644MAK7<br>LEI: 2WHM8VNJH63UN14OL754 | Long             | DBT              | CORP              | US        |   7400000 | PA      | $7425013.41   | 0.25%             | 2028-04-12      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| SANTANDER MTGE. AS 5.545%                     | SANTANDER MTGE. AS 5.545%                     | CUSIP: 80262BAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4808290 | PA      | $4822439.91   | 0.16%             | 2065-01-25      | Variable      | 5.55%                 | Yes           |                  2 | On Loan: No      |
| MICHIGAN STATE HOSP 5.00%                     | MICHIGAN STATE HOSP 5.00%                     | CUSIP: 59465HYC4<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |    690000 | PA      | $691912.34    | 0.02%             | 2026-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN. AUTHORI 5.00%                     | PUBLIC FIN. AUTHORI 5.00%                     | CUSIP: 74443DMQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    265000 | PA      | $268956.00    | 0.01%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HEALTH & 5.00%                      | WISCONSIN HEALTH & 5.00%                      | CUSIP: 97712D6L5<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   2685000 | PA      | $2791161.41   | 0.10%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASHIN 5.00%                     | METROPOLITAN WASHIN 5.00%                     | CUSIP: 592647ML2<br>LEI: 7HERAVJJLN8J1DZ6AZ19 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3672154.85   | 0.13%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EXETER AUTOMOBILE R 5.89%                     | EXETER AUTOMOBILE R 5.89%                     | CUSIP: 30168JAF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2300000 | PA      | $2331449.97   | 0.08%             | 2031-07-15      | Fixed         | 5.89%                 | No            |                  2 | On Loan: No      |
| ABN AMRO BANK NV FRN                          | ABN AMRO BANK NV FRN                          | CUSIP: 00084DBJ8<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |  20000000 | PA      | $19978200.00  | 0.68%             | 2028-07-07      | Floating      | 4.42%                 | Yes           |                  2 | On Loan: No      |
| MOBILE COUNTY BOARD 5.00%                     | MOBILE COUNTY BOARD 5.00%                     | CUSIP: 607298BS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1015000 | PA      | $1078154.72   | 0.04%             | 2029-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER COLORADO RIVE 5.00%                     | LOWER COLORADO RIVE 5.00%                     | CUSIP: 54811BV57<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |   3210000 | PA      | $3416507.33   | 0.12%             | 2029-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WORLD OMNI AUTO REC 4.86%                     | WORLD OMNI AUTO REC 4.86%                     | CUSIP: 98164RAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1898527 | PA      | $1906721.10   | 0.07%             | 2029-03-15      | Fixed         | 4.86%                 | No            |                  2 | On Loan: No      |
| JEFFERSON EXCHANGE A FRN                      | JEFFERSON EXCHANGE A FRN                      | CUSIP: 47405HAB0<br>LEI: 2549006S3H8CIXYC2W43 | Long             | DBT              | CORP              | US        |   4400000 | PA      | $4400000.00   | 0.15%             | 2062-06-01      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AU 5.00%                     | SOUTHEAST ENERGY AU 5.00%                     | CUSIP: 84136HAM5<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    500000 | PA      | $514530.70    | 0.02%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MOBILE COUNTY BOARD 5.00%                     | MOBILE COUNTY BOARD 5.00%                     | CUSIP: 607298BQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    715000 | PA      | $730210.41    | 0.02%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ST CHARLES COUNTY P 5.00%                     | ST CHARLES COUNTY P 5.00%                     | CUSIP: 78764YFR3<br>LEI: 54930038VJHZW7PR1R14 | Long             | DBT              | MUN               | US        |    870000 | PA      | $919235.74    | 0.03%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ATLANTA URBAN RESIDEN VAR                     | ATLANTA URBAN RESIDEN VAR                     | CUSIP: 04785VBS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4820000 | PA      | $4815815.28   | 0.16%             | 2029-05-01      | Variable      | 2.92%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND INFRA. 5.00%                     | RHODE ISLAND INFRA. 5.00%                     | CUSIP: 76223MDZ2<br>LEI: 54930022Z6KOPRSQCG49 | Long             | DBT              | MUN               | US        |    775000 | PA      | $803293.55    | 0.03%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND INFRA. 5.00%                     | RHODE ISLAND INFRA. 5.00%                     | CUSIP: 76223MEA6<br>LEI: 54930022Z6KOPRSQCG49 | Long             | DBT              | MUN               | US        |    500000 | PA      | $529440.65    | 0.02%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MANATEE COUNTY SCHO 5.00%                     | MANATEE COUNTY SCHO 5.00%                     | CUSIP: 56185NJC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6250000 | PA      | $6567763.75   | 0.22%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Northern Institutional Liquid Asset Portfolio | Northern Institutional Liquid Asset Portfolio | CUSIP: 665279105<br>LEI: 549300Y178DO5JBR1S04 | Long             | STIV             | RF                | US        |    101185 | NS      | $101185.00    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-30

**Name of Applicant:** Northern Funds

**Signature:** Randal E. Rein

**Name of Signer:** Randal E. Rein

**Title:** Treasurer and Principal Financial Officer