# EDGAR Filing Document

**Accession Number:** 0001034665
**File Stem:** 0001752724-25-157956
**Filing Date:** 2025-6
**Character Count:** 268420
**Document Hash:** 58f05565364e254f2889e33870bce9f6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-157956.hdr.sgml**: 20250626

**ACCESSION NUMBER**: 0001752724-25-157956

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250626

**DATE AS OF CHANGE**: 20250626

**PERIOD START**: 20250731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BLACKROCK MUNIHOLDINGS FUND, INC.
- **CENTRAL INDEX KEY:** 0001034665

**ORGANIZATION NAME:**
- **EIN:** 223508039
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08081
- **FILM NUMBER:** 251077026

**BUSINESS ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809
- **BUSINESS PHONE:** 800-441-7762

**MAIL ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BLACKROCK MUNIHOLDINGS FUND INC
- **DATE OF NAME CHANGE:** 20061026

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MUNIHOLDINGS FUND INC
- **DATE OF NAME CHANGE:** 19970226

## Nport-Ex

April 30, 2025

2025 Quarterly Report <br>&nbsp;&nbsp;&nbsp;&nbsp;(Unaudited)<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**BlackRock MuniHoldings Fund, Inc. (MHD)**<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**Not FDIC Insured • May Lose Value • No Bank Guarantee**<br>

------

Schedule of Investments (unaudited)

April 30, 2025

**BlackRock MuniHoldings Fund, Inc. (MHD)** 

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>

---

| | | |
|:---|:---|:---|
| *Security* | *Par* <br>*(000)*<br>| *Value* |
| **Municipal Bonds** | **Municipal Bonds** | **Municipal Bonds** |
| **Alabama — 5.9%** | **Alabama — 5.9%** |  |
| Black Belt Energy Gas District, RB<sup>(a)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.25%, 01/01/54 | $2450 | &nbsp;&nbsp; $2576300 |
| &nbsp;&nbsp;&nbsp; Series A, 5.25%, 05/01/55 | 1275 | &nbsp;&nbsp; 1352449 |
| &nbsp;&nbsp;&nbsp; Series F, 5.50%, 11/01/53 | 1115 | &nbsp;&nbsp; 1166341 |
| &nbsp;&nbsp;&nbsp; Black Belt Energy Gas District, Refunding RB, 4.00%, <br> 06/01/51<sup>(a)</sup><br>| 9590 | &nbsp;&nbsp; 9478510 |
| &nbsp;&nbsp;&nbsp; County of Jefferson Alabama Sewer Revenue, <br> Refunding RB, 5.25%, 10/01/49<br>| 4715 | &nbsp;&nbsp; 4740465 |
| &nbsp;&nbsp;&nbsp; Southeast Alabama Gas Supply District, Refunding RB, <br> Series B, 5.00%, 06/01/49<sup>(a)</sup><br>| 2825 | &nbsp;&nbsp; 2934941 |
| Southeast Energy Authority A Cooperative District, RB<sup>(a)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 01/01/56 | 4895 | &nbsp;&nbsp; 5014509 |
| &nbsp;&nbsp;&nbsp; Series A-1, 5.50%, 01/01/53 | 1890 | &nbsp;&nbsp; 2002810 |
| &nbsp;&nbsp;&nbsp; Series B, 5.00%, 01/01/54 | 4595 | &nbsp;&nbsp; 4773432 |
| &nbsp;&nbsp;&nbsp; Series B-1, 5.00%, 05/01/53 | 4510 | &nbsp;&nbsp; 4627393 |
|  |  | &nbsp;&nbsp; 38667150 |
| **Arizona — 2.5%** | **Arizona — 2.5%** |  |
| Arizona Industrial Development Authority, RB<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.38%, 07/01/39 | 575 | &nbsp;&nbsp; 508004 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 07/01/49 | 550 | &nbsp;&nbsp; 479479 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 07/01/54 | 425 | &nbsp;&nbsp; 359346 |
| &nbsp;&nbsp;&nbsp; Arizona Industrial Development Authority, Refunding <br> RB<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 07/01/52 | 130 | &nbsp;&nbsp; 119692 |
| &nbsp;&nbsp;&nbsp; Series G, 5.00%, 07/01/47 | 435 | &nbsp;&nbsp; 409911 |
| &nbsp;&nbsp;&nbsp; City of Phoenix Civic Improvement Corp., RB, Junior <br> Lien, 5.25%, 07/01/47<br>| 2425 | &nbsp;&nbsp; 2568520 |
| &nbsp;&nbsp;&nbsp; Glendale Industrial Development Authority, RB, 5.00%, <br> 05/15/56<br>| 65 | &nbsp;&nbsp; 58572 |
| &nbsp;&nbsp;&nbsp; Industrial Development Authority of the City of Phoenix <br> Arizona, RB, Series A, 5.00%, 07/01/46<sup>(b)</sup><br>| 2120 | &nbsp;&nbsp; 1979260 |
| &nbsp;&nbsp;&nbsp; Industrial Development Authority of the County of Pima, <br> RB, 5.00%, 07/01/34<sup>(b)</sup><br>| 400 | &nbsp;&nbsp; 398443 |
| &nbsp;&nbsp;&nbsp; Industrial Development Authority of the County of Pima, <br> Refunding RB, 5.00%, 06/15/49<sup>(b)</sup><br>| 300 | &nbsp;&nbsp; 280193 |
| Salt Verde Financial Corp., RB |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 12/01/32 | 3500 | &nbsp;&nbsp; 3670022 |
| &nbsp;&nbsp;&nbsp; 5.00%, 12/01/37 | 5235 | &nbsp;&nbsp; 5439556 |
|  |  | &nbsp;&nbsp; 16270998 |
| **Arkansas — 1.3%** | **Arkansas — 1.3%** |  |
| Arkansas Development Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; AMT, 4.75%, 09/01/49<sup>(b)</sup> | 4235 | &nbsp;&nbsp; 3863715 |
| &nbsp;&nbsp;&nbsp; AMT, Sustainability Bonds, 5.70%, 05/01/53 | 1170 | &nbsp;&nbsp; 1177231 |
| &nbsp;&nbsp;&nbsp; City of Benton Arkansas Sales & Use Tax, RB, (AGM), <br> 4.00%, 06/01/39<br>| 505 | &nbsp;&nbsp; 476845 |
| &nbsp;&nbsp;&nbsp; City of Springdale Arkansas Sales & Use Tax Revenue, <br> RB, Series B, (BAM), 4.13%, 08/01/47<br>| 3085 | &nbsp;&nbsp; 2882347 |
|  |  | &nbsp;&nbsp; 8400138 |
| **California — 4.7%** | **California — 4.7%** |  |
| &nbsp;&nbsp;&nbsp; California Enterprise Development Authority, RB, 8.00%, <br> 11/15/62<sup>(b)</sup><br>| 1025 | &nbsp;&nbsp; 998511 |
| &nbsp;&nbsp;&nbsp; California Infrastructure & Economic Development Bank, <br> Refunding RB, Series A, Class B, AMT, Sustainability <br> Bonds, 9.50%, 01/01/65<sup>(a)(b)</sup><br>| 3200 | &nbsp;&nbsp; 3077739 |
| &nbsp;&nbsp;&nbsp; California Municipal Finance Authority, ARB, AMT, <br> Senior Lien, 5.00%, 12/31/43<br>| 800 | &nbsp;&nbsp; 790425 |
| &nbsp;&nbsp;&nbsp; California Pollution Control Financing Authority, RB, <br> AMT, 5.00%, 11/21/45<sup>(b)</sup><br>| 1755 | &nbsp;&nbsp; 1721556 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **California (continued)** | **California (continued)** |  |
| &nbsp;&nbsp;&nbsp; City of Los Angeles Department of Airports, Refunding <br> ARB, AMT, Subordinate, 5.00%, 05/15/46<br>| 830 | &nbsp;&nbsp; $837875 |
| &nbsp;&nbsp;&nbsp; Hartnell Community College District, GO, Series D, <br> 7.00%, 08/01/34<sup>(c)</sup><br>| 1650 | &nbsp;&nbsp; 1770433 |
| &nbsp;&nbsp;&nbsp; Norwalk-La Mirada Unified School District, Refunding <br> GO, Series E, Election 2002, (AGC), 0.00%, <br> 08/01/38<sup>(d)</sup><br>| 8000 | &nbsp;&nbsp; 4500231 |
| Palomar Community College District, GO |  |  |
| &nbsp;&nbsp;&nbsp; Series B, Convertible, 6.20%, 08/01/39<sup>(c)</sup> | 2605 | &nbsp;&nbsp; 3049023 |
| &nbsp;&nbsp;&nbsp; Series B, Election 2006, 0.00%, 08/01/30<sup>(d)</sup> | 1500 | &nbsp;&nbsp; 1248485 |
| &nbsp;&nbsp;&nbsp; San Diego Community College District, GO, Election <br> 2002, 6.00%, 08/01/27<sup>(c)(e)</sup><br>| 2800 | &nbsp;&nbsp; 2981130 |
| San Diego County Regional Airport Authority, ARB |  |  |
| &nbsp;&nbsp;&nbsp; Series B, AMT, 5.00%, 07/01/47 | 1515 | &nbsp;&nbsp; 1494585 |
| &nbsp;&nbsp;&nbsp; Series B, AMT, Subordinate, 5.00%, 07/01/56 | 2150 | &nbsp;&nbsp; 2112836 |
| San Diego Unified School District, GO<sup>(d)(f)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; Class A, 0.00%, 07/01/29 | 5315 | &nbsp;&nbsp; 4575714 |
| &nbsp;&nbsp;&nbsp; Series A, 0.00%, 07/01/29 | 685 | &nbsp;&nbsp; 589558 |
| &nbsp;&nbsp;&nbsp; Washington Township Health Care District, GO, <br> Series B, Election 2004, 5.50%, 08/01/40<br>| 920 | &nbsp;&nbsp; 921879 |
|  |  | &nbsp;&nbsp; 30669980 |
| **Colorado — 1.7%** | **Colorado — 1.7%** |  |
| &nbsp;&nbsp;&nbsp; City & County of Denver Colorado Airport System <br> Revenue, Refunding ARB, Series D, AMT, 5.75%, <br> 11/15/45<br>| 1160 | &nbsp;&nbsp; 1235532 |
| &nbsp;&nbsp;&nbsp; City & County of Denver Colorado Pledged Excise Tax <br> Revenue, RB, CAB<sup>(d)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A-2, 0.00%, 08/01/37 | 1490 | &nbsp;&nbsp; 819606 |
| &nbsp;&nbsp;&nbsp; Series A-2, 0.00%, 08/01/38 | 915 | &nbsp;&nbsp; 476427 |
| &nbsp;&nbsp;&nbsp; Colorado Educational & Cultural Facilities Authority, RB, <br> 5.50%, 07/01/40<br>| 2510 | &nbsp;&nbsp; 2512474 |
| Colorado Health Facilities Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 11/01/47 | 480 | &nbsp;&nbsp; 498882 |
| &nbsp;&nbsp;&nbsp; 5.25%, 11/01/52 | 1000 | &nbsp;&nbsp; 1027090 |
| Colorado Health Facilities Authority, Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 4.00%, 11/15/46 | 1610 | &nbsp;&nbsp; 1406740 |
| &nbsp;&nbsp;&nbsp; Series A, 4.00%, 08/01/49 | 1950 | &nbsp;&nbsp; 1675305 |
| &nbsp;&nbsp;&nbsp; Series A, 4.00%, 05/15/52 | 1500 | &nbsp;&nbsp; 1338276 |
|  |  | &nbsp;&nbsp; 10990332 |
| **Connecticut — 0.1%** | **Connecticut — 0.1%** |  |
| &nbsp;&nbsp;&nbsp; Connecticut State Health & Educational Facilities <br> Authority, RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 07/15/48 | 390 | &nbsp;&nbsp; 403944 |
| &nbsp;&nbsp;&nbsp; 4.25%, 07/15/53 | 525 | &nbsp;&nbsp; 468815 |
|  |  | &nbsp;&nbsp; 872759 |
| **Delaware — 0.5%** | **Delaware — 0.5%** |  |
| County of Kent Delaware, RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 07/01/40 | 330 | &nbsp;&nbsp; 325171 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 07/01/53 | 775 | &nbsp;&nbsp; 727387 |
| &nbsp;&nbsp;&nbsp; Delaware State Health Facilities Authority, RB, 5.00%, <br> 06/01/48<br>| 2180 | &nbsp;&nbsp; 2095139 |
|  |  | &nbsp;&nbsp; 3147697 |
| **District of Columbia — 4.3%** | **District of Columbia — 4.3%** |  |
| &nbsp;&nbsp;&nbsp; District of Columbia Income Tax Revenue, RB, Series A, <br> 5.25%, 05/01/48<br>| 1205 | &nbsp;&nbsp; 1269971 |
| &nbsp;&nbsp;&nbsp; District of Columbia, Refunding GO, Series A, 5.25%, <br> 01/01/48<br>| 2285 | &nbsp;&nbsp; 2397186 |
| District of Columbia, Refunding RB, 5.00%, 10/01/48 | 1695 | &nbsp;&nbsp; 1609285 |
| District of Columbia, TA, 5.13%, 06/01/41 | 1195 | &nbsp;&nbsp; 1196209 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2025

**BlackRock MuniHoldings Fund, Inc. (MHD)** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **District of Columbia (continued)** | **District of Columbia (continued)** |  |
| &nbsp;&nbsp;&nbsp; Metropolitan Washington Airports Authority Aviation <br> Revenue, Refunding ARB, Series A, AMT, 5.25%, <br> 10/01/49<br>| 1190 | &nbsp;&nbsp; $1209614 |
| &nbsp;&nbsp;&nbsp; Metropolitan Washington Airports Authority Dulles Toll <br> Road Revenue, Refunding RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series B, 2nd Senior Lien, (AGC), 0.00%, 10/01/34<sup>(d)</sup> | 10170 | &nbsp;&nbsp; 6904434 |
| &nbsp;&nbsp;&nbsp; Series B, 2nd Senior Lien, (AGC), 0.00%, 10/01/35<sup>(d)</sup> | 13485 | &nbsp;&nbsp; 8711121 |
| &nbsp;&nbsp;&nbsp; Series B, Subordinate, 4.00%, 10/01/49 | 2000 | &nbsp;&nbsp; 1722862 |
| &nbsp;&nbsp;&nbsp; Washington Metropolitan Area Transit Authority <br> Dedicated Revenue, RB<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, 2nd Lien, Sustainability Bonds, 4.38%, <br> 07/15/59<br>| 2690 | &nbsp;&nbsp; 2504967 |
| &nbsp;&nbsp;&nbsp; Series A, Sustainability Bonds, 4.00%, 07/15/46 | 875 | &nbsp;&nbsp; 781498 |
|  |  | &nbsp;&nbsp; 28307147 |
| **Florida — 7.3%** | **Florida — 7.3%** |  |
| Capital Trust Agency, Inc., RB<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 01/01/55 | 305 | &nbsp;&nbsp; 271243 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 06/01/45 | 480 | &nbsp;&nbsp; 397363 |
| &nbsp;&nbsp;&nbsp; Series A, 5.50%, 06/01/57 | 170 | &nbsp;&nbsp; 140897 |
| &nbsp;&nbsp;&nbsp; City of Gainesville Florida Utilities System Revenue, <br> Refunding RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 10/01/29<sup>(e)</sup> | 20 | &nbsp;&nbsp; 21564 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 10/01/47 | 4095 | &nbsp;&nbsp; 4128453 |
| &nbsp;&nbsp;&nbsp; City of South Miami Health Facilities Authority, Inc., <br> Refunding RB, 5.00%, 08/15/42<br>| 1290 | &nbsp;&nbsp; 1297069 |
| City of Tampa Florida, RB, Series B, 5.00%, 07/01/50 | 2685 | &nbsp;&nbsp; 2691244 |
| &nbsp;&nbsp;&nbsp; Collier County Industrial Development Authority, RB, <br> (AGM), 5.00%, 10/01/54<br>| 3500 | &nbsp;&nbsp; 3522016 |
| &nbsp;&nbsp;&nbsp; County of Broward Florida Airport System Revenue, <br> ARB, Series A, AMT, 5.00%, 10/01/49<br>| 1000 | &nbsp;&nbsp; 1001739 |
| &nbsp;&nbsp;&nbsp; County of Broward Florida Water & Sewer Utility <br> Revenue, RB, Series A, 4.00%, 10/01/45<br>| 585 | &nbsp;&nbsp; 540308 |
| &nbsp;&nbsp;&nbsp; County of Miami-Dade Florida Aviation Revenue, <br> Refunding ARB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 5.00%, 10/01/44 | 3525 | &nbsp;&nbsp; 3543286 |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 5.50%, 10/01/55 | 1490 | &nbsp;&nbsp; 1542718 |
| &nbsp;&nbsp;&nbsp; County of Miami-Dade Florida Aviation Revenue, <br> Refunding RB, Series B, AMT, 5.00%, 10/01/40<br>| 3120 | &nbsp;&nbsp; 3121185 |
| &nbsp;&nbsp;&nbsp; County of Miami-Dade Seaport Department, Refunding <br> RB, Series A, AMT, 5.25%, 10/01/52<br>| 1245 | &nbsp;&nbsp; 1261473 |
| &nbsp;&nbsp;&nbsp; County of Osceola Florida Transportation Revenue, <br> Refunding RB, CAB<sup>(d)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A-2, 0.00%, 10/01/46 | 260 | &nbsp;&nbsp; 86938 |
| &nbsp;&nbsp;&nbsp; Series A-2, 0.00%, 10/01/47 | 435 | &nbsp;&nbsp; 128940 |
| County of Pasco Florida, RB, (AGM), 5.75%, 09/01/54 | 500 | &nbsp;&nbsp; 530836 |
| &nbsp;&nbsp;&nbsp; Cypress Bluff Community Development District, SAB, <br> Series A, 3.80%, 05/01/50<sup>(b)</sup><br>| 430 | &nbsp;&nbsp; 329783 |
| Florida Development Finance Corp., RB |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 06/30/57<sup>(b)(g)(h)</sup> | 526 | &nbsp;&nbsp; 139639 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 06/15/56 | 75 | &nbsp;&nbsp; 68375 |
| &nbsp;&nbsp;&nbsp; AMT, 5.00%, 05/01/29<sup>(b)</sup> | 270 | &nbsp;&nbsp; 272724 |
| Florida Development Finance Corp., Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; AMT, (AGM), 5.00%, 07/01/44 | 6495 | &nbsp;&nbsp; 6406236 |
| &nbsp;&nbsp;&nbsp; AMT, (AGM), 5.25%, 07/01/47 | 1600 | &nbsp;&nbsp; 1606575 |
| &nbsp;&nbsp;&nbsp; Hillsborough County Aviation Authority, ARB, Class A, <br> AMT, 5.00%, 10/01/48<br>| 1730 | &nbsp;&nbsp; 1706631 |
| &nbsp;&nbsp;&nbsp; Hillsborough County Industrial Development Authority, <br> Refunding RB, Series C, 4.13%, 11/15/51<br>| 1400 | &nbsp;&nbsp; 1267138 |
| &nbsp;&nbsp;&nbsp; Lakewood Ranch Stewardship District, SAB, 6.30%, <br> 05/01/54<br>| 570 | &nbsp;&nbsp; 590290 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Florida (continued)** | **Florida (continued)** |  |
| Orange County Health Facilities Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 10/01/47 | 1500 | &nbsp;&nbsp; $1498365 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 10/01/53 | 1075 | &nbsp;&nbsp; 1092752 |
| Orange County Health Facilities Authority, Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 4.50%, 10/01/56 | 3310 | &nbsp;&nbsp; 3143850 |
| &nbsp;&nbsp;&nbsp; Series A, 5.25%, 10/01/56 | 1205 | &nbsp;&nbsp; 1232634 |
| &nbsp;&nbsp;&nbsp; Palm Beach County Health Facilities Authority, <br> Refunding RB, 4.00%, 08/15/49<br>| 1185 | &nbsp;&nbsp; 992732 |
| &nbsp;&nbsp;&nbsp; Southern Groves Community Development District No. <br> 5, Refunding SAB, 4.00%, 05/01/43<br>| 220 | &nbsp;&nbsp; 184134 |
| &nbsp;&nbsp;&nbsp; Stevens Plantation Community Development District, <br> SAB, Series A, 7.10%, 05/01/35<sup>(g)(h)</sup><br>| 800 | &nbsp;&nbsp; 458158 |
| Trout Creek Community Development District, SAB |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 05/01/40 | 630 | &nbsp;&nbsp; 552474 |
| &nbsp;&nbsp;&nbsp; 4.00%, 05/01/51 | 1050 | &nbsp;&nbsp; 827788 |
| &nbsp;&nbsp;&nbsp; Village Community Development District No. 15, SAB, <br> 5.25%, 05/01/54<sup>(b)</sup><br>| 590 | &nbsp;&nbsp; 590702 |
| &nbsp;&nbsp;&nbsp; Westside Community Development District, SAB, <br> 4.00%, 05/01/50<br>| 815 | &nbsp;&nbsp; 622492 |
|  |  | &nbsp;&nbsp; 47810744 |
| **Georgia — 2.6%** | **Georgia — 2.6%** |  |
| &nbsp;&nbsp;&nbsp; City of Atlanta Georgia Department of Aviation, <br> Refunding ARB, Series B, AMT, 5.00%, 07/01/52<br>| 1520 | &nbsp;&nbsp; 1521811 |
| &nbsp;&nbsp;&nbsp; County of DeKalb Georgia Water & Sewerage Revenue, <br> Refunding RB, 5.00%, 10/01/48<br>| 3135 | &nbsp;&nbsp; 3244011 |
| &nbsp;&nbsp;&nbsp; Dalton Whitfield County Joint Development Authority, <br> RB, 4.00%, 08/15/48<br>| 2615 | &nbsp;&nbsp; 2320720 |
| &nbsp;&nbsp;&nbsp; East Point Business & Industrial Development Authority, <br> RB, Series A, 5.25%, 06/15/62<sup>(b)</sup><br>| 535 | &nbsp;&nbsp; 361125 |
| &nbsp;&nbsp;&nbsp; Gainesville & Hall County Hospital Authority, RB, <br> Series A, 4.00%, 02/15/51<br>| 1460 | &nbsp;&nbsp; 1236974 |
| &nbsp;&nbsp;&nbsp; Main Street Natural Gas, Inc., RB, Series A, 5.00%, <br> 06/01/53<sup>(a)</sup><br>| 7815 | &nbsp;&nbsp; 8070655 |
| &nbsp;&nbsp;&nbsp; Municipal Electric Authority of Georgia, RB, Series A, <br> 5.00%, 01/01/59<br>| 480 | &nbsp;&nbsp; 478180 |
|  |  | &nbsp;&nbsp; 17233476 |
| **Hawaii — 1.1%** | **Hawaii — 1.1%** |  |
| State of Hawaii Airports System Revenue, ARB |  |  |
| &nbsp;&nbsp;&nbsp; Series B, 5.00%, 07/01/49 | 4090 | &nbsp;&nbsp; 4199650 |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 5.50%, 07/01/54 | 1745 | &nbsp;&nbsp; 1810657 |
| State of Hawaii Airports System Revenue, COP |  |  |
| &nbsp;&nbsp;&nbsp; AMT, 5.25%, 08/01/25 | 425 | &nbsp;&nbsp; 425289 |
| &nbsp;&nbsp;&nbsp; AMT, 5.25%, 08/01/26 | 460 | &nbsp;&nbsp; 460852 |
|  |  | &nbsp;&nbsp; 6896448 |
| **Idaho — 0.4%** | **Idaho — 0.4%** |  |
| &nbsp;&nbsp;&nbsp; Idaho Housing & Finance Association, RB, S/F Housing, <br> Series A, (FHLMC, FNMA, GNMA), 4.60%, 01/01/49<br>| 820 | &nbsp;&nbsp; 793836 |
| &nbsp;&nbsp;&nbsp; Power County Industrial Development Corp., RB, <br> 6.45%, 08/01/32<br>| 2000 | &nbsp;&nbsp; 2003784 |
|  |  | &nbsp;&nbsp; 2797620 |
| **Illinois — 8.6%** | **Illinois — 8.6%** |  |
| Chicago Board of Education, GO |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 12/01/34 | 1760 | &nbsp;&nbsp; 1761010 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 12/01/40 | 1410 | &nbsp;&nbsp; 1373935 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 12/01/42 | 1480 | &nbsp;&nbsp; 1425964 |
| &nbsp;&nbsp;&nbsp; Series C, 5.25%, 12/01/35 | 2655 | &nbsp;&nbsp; 2655245 |
| &nbsp;&nbsp;&nbsp; Series D, 5.00%, 12/01/46 | 3480 | &nbsp;&nbsp; 3292822 |
| &nbsp;&nbsp;&nbsp; Series H, 5.00%, 12/01/36 | 585 | &nbsp;&nbsp; 552194 |
| Chicago Board of Education, Refunding GO |  |  |
| &nbsp;&nbsp;&nbsp; Series C, 5.00%, 12/01/27 | 500 | &nbsp;&nbsp; 506303 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

April 30, 2025

**BlackRock MuniHoldings Fund, Inc. (MHD)** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Illinois (continued)** | **Illinois (continued)** |  |
| Chicago Board of Education, Refunding GO (continued) |  |  |
| &nbsp;&nbsp;&nbsp; Series C, 5.00%, 12/01/34 | 475 | &nbsp;&nbsp; $475120 |
| &nbsp;&nbsp;&nbsp; Series G, 5.00%, 12/01/34 | 315 | &nbsp;&nbsp; 314964 |
| &nbsp;&nbsp;&nbsp; Chicago Midway International Airport, Refunding ARB, <br> Series B, 5.00%, 01/01/46<br>| 2240 | &nbsp;&nbsp; 2240317 |
| Chicago O'Hare International Airport, ARB |  |  |
| &nbsp;&nbsp;&nbsp; Series D, AMT, Senior Lien, 5.00%, 01/01/47 | 2480 | &nbsp;&nbsp; 2434013 |
| &nbsp;&nbsp;&nbsp; Senior Lien, 4.50%, 01/01/56 | 6720 | &nbsp;&nbsp; 6338977 |
| Chicago O'Hare International Airport, Refunding ARB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, AMT, Senior Lien, 5.25%, 01/01/48 | 1660 | &nbsp;&nbsp; 1703397 |
| &nbsp;&nbsp;&nbsp; Series A, AMT, Senior Lien, 4.38%, 01/01/53 | 1390 | &nbsp;&nbsp; 1242494 |
| &nbsp;&nbsp;&nbsp; City of Chicago Illinois Wastewater Transmission <br> Revenue, RB, Series A, 2nd Lien, (AGM), 5.25%, <br> 01/01/58<br>| 885 | &nbsp;&nbsp; 917342 |
| &nbsp;&nbsp;&nbsp; City of Chicago Illinois Waterworks Revenue, RB, <br> Series A, 2nd Lien, (AGM), 5.25%, 11/01/53<br>| 1445 | &nbsp;&nbsp; 1494032 |
| Illinois Finance Authority, Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 02/15/27<sup>(e)</sup> | 60 | &nbsp;&nbsp; 60852 |
| &nbsp;&nbsp;&nbsp; 4.00%, 02/15/41 | 1885 | &nbsp;&nbsp; 1734563 |
| &nbsp;&nbsp;&nbsp; Series A, 4.00%, 07/15/47 | 1485 | &nbsp;&nbsp; 1323115 |
| Illinois State Toll Highway Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 01/01/40 | 5625 | &nbsp;&nbsp; 5626693 |
| &nbsp;&nbsp;&nbsp; Series B, 5.00%, 01/01/40 | 2250 | &nbsp;&nbsp; 2253714 |
| &nbsp;&nbsp;&nbsp; Metropolitan Pier & Exposition Authority, RB, 5.00%, <br> 06/15/57<br>| 2370 | &nbsp;&nbsp; 2249325 |
| &nbsp;&nbsp;&nbsp; Metropolitan Pier & Exposition Authority, Refunding <br> RB<sup>(d)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; Series B, (AGM), 0.00%, 06/15/44 | 3765 | &nbsp;&nbsp; 1468236 |
| &nbsp;&nbsp;&nbsp; Series B, (AGM), 0.00%, 06/15/47 | 22775 | &nbsp;&nbsp; 7373858 |
| State of Illinois, GO |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 05/01/39 | 795 | &nbsp;&nbsp; 836418 |
| &nbsp;&nbsp;&nbsp; Series B, 5.25%, 05/01/41 | 1770 | &nbsp;&nbsp; 1841255 |
| &nbsp;&nbsp;&nbsp; Series B, 5.25%, 05/01/48 | 1805 | &nbsp;&nbsp; 1832795 |
| &nbsp;&nbsp;&nbsp; Series D, 5.00%, 11/01/28 | 900 | &nbsp;&nbsp; 927304 |
|  |  | &nbsp;&nbsp; 56256257 |
| **Indiana — 1.4%** | **Indiana — 1.4%** |  |
| &nbsp;&nbsp;&nbsp; City of Valparaiso Indiana, Refunding RB, AMT, 4.50%, <br> 01/01/34<sup>(b)</sup><br>| 405 | &nbsp;&nbsp; 414413 |
| &nbsp;&nbsp;&nbsp; Indiana Finance Authority, RB, Series A, 5.00%, <br> 10/01/53<br>| 2150 | &nbsp;&nbsp; 2192059 |
| &nbsp;&nbsp;&nbsp; Indiana Housing & Community Development Authority, <br> RB, S/F Housing, Series A-1, Sustainability Bonds, <br> (FHLMC, FNMA, GNMA), 4.65%, 07/01/49<br>| 2475 | &nbsp;&nbsp; 2409493 |
| &nbsp;&nbsp;&nbsp; Indianapolis Local Public Improvement Bond Bank, RB, <br> Series F1, Subordinate, (BAM), 5.00%, 03/01/53<br>| 3950 | &nbsp;&nbsp; 4019656 |
|  |  | &nbsp;&nbsp; 9035621 |
| **Kansas — 0.3%** | **Kansas — 0.3%** |  |
| &nbsp;&nbsp;&nbsp; Wyandotte County Unified School District No. <br> 500 Kansas City, GO, (BAM), 5.00%, 09/01/50<br>| 2130 | &nbsp;&nbsp; 2170675 |
| **Kentucky — 1.8%** | **Kentucky — 1.8%** |  |
| Fayette County School District Finance Corp., RB |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 06/01/44 | 860 | &nbsp;&nbsp; 886293 |
| &nbsp;&nbsp;&nbsp; (BAM-TCRS), 5.00%, 06/01/46 | 760 | &nbsp;&nbsp; 776920 |
| &nbsp;&nbsp;&nbsp; (BAM-TCRS), 5.00%, 06/01/47 | 1155 | &nbsp;&nbsp; 1177661 |
| &nbsp;&nbsp;&nbsp; Kentucky Economic Development Finance Authority, <br> Refunding RB, Series A, 5.00%, 08/01/44<br>| 735 | &nbsp;&nbsp; 721242 |
| &nbsp;&nbsp;&nbsp; Kentucky Public Energy Authority, Refunding RB, <br> Series B, 5.00%, 01/01/55<sup>(a)</sup><br>| 4430 | &nbsp;&nbsp; 4635091 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Kentucky (continued)** | **Kentucky (continued)** |  |
| &nbsp;&nbsp;&nbsp; Kentucky Public Transportation Infrastructure Authority, <br> RB, CAB<sup>(c)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; Convertible, 6.45%, 07/01/34 | 500 | &nbsp;&nbsp; $571510 |
| &nbsp;&nbsp;&nbsp; Convertible, 6.60%, 07/01/39 | 830 | &nbsp;&nbsp; 947717 |
| &nbsp;&nbsp;&nbsp; Convertible, 6.75%, 07/01/43 | 1770 | &nbsp;&nbsp; 2005698 |
|  |  | &nbsp;&nbsp; 11722132 |
| **Louisiana — 1.7%** | **Louisiana — 1.7%** |  |
| Louisiana Public Facilities Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 10/01/53 | 4140 | &nbsp;&nbsp; 4117021 |
| &nbsp;&nbsp;&nbsp; AMT, 5.50%, 09/01/59 | 3235 | &nbsp;&nbsp; 3305771 |
| &nbsp;&nbsp;&nbsp; Louisiana Stadium & Exposition District, Refunding RB, <br> Series A, 5.25%, 07/01/53<br>| 3520 | &nbsp;&nbsp; 3608047 |
|  |  | &nbsp;&nbsp; 11030839 |
| **Maryland — 0.5%** | **Maryland — 0.5%** |  |
| &nbsp;&nbsp;&nbsp; Maryland Health & Higher Educational Facilities <br> Authority, RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series B, 4.00%, 04/15/50 | 1645 | &nbsp;&nbsp; 1424373 |
| &nbsp;&nbsp;&nbsp; Series C, 5.00%, 05/15/45 | 2125 | &nbsp;&nbsp; 2093792 |
|  |  | &nbsp;&nbsp; 3518165 |
| **Massachusetts — 2.6%** | **Massachusetts — 2.6%** |  |
| Commonwealth of Massachusetts, GO |  |  |
| &nbsp;&nbsp;&nbsp; Series C, 5.00%, 10/01/47 | 1195 | &nbsp;&nbsp; 1234576 |
| &nbsp;&nbsp;&nbsp; Series C, 5.00%, 10/01/52 | 1240 | &nbsp;&nbsp; 1271212 |
| Massachusetts Development Finance Agency, RB |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 10/01/48 | 830 | &nbsp;&nbsp; 721879 |
| &nbsp;&nbsp;&nbsp; Series A, 5.25%, 01/01/42 | 1110 | &nbsp;&nbsp; 1112782 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 01/01/47 | 5005 | &nbsp;&nbsp; 4752630 |
| &nbsp;&nbsp;&nbsp; Massachusetts Development Finance Agency, <br> Refunding RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 04/15/40 | 400 | &nbsp;&nbsp; 383730 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 10/01/35 | 500 | &nbsp;&nbsp; 487520 |
| &nbsp;&nbsp;&nbsp; Series P, 5.45%, 05/15/59 | 2010 | &nbsp;&nbsp; 2146048 |
| &nbsp;&nbsp;&nbsp; Massachusetts Port Authority, ARB, Series E, AMT, <br> 5.00%, 07/01/46<br>| 3100 | &nbsp;&nbsp; 3111350 |
| &nbsp;&nbsp;&nbsp; Massachusetts Port Authority, Refunding ARB, Series A, <br> AMT, 5.00%, 07/01/47<br>| 1500 | &nbsp;&nbsp; 1504709 |
|  |  | &nbsp;&nbsp; 16726436 |
| **Michigan — 3.0%** | **Michigan — 3.0%** |  |
| &nbsp;&nbsp;&nbsp; City of Detroit Michigan Water Supply System Revenue, <br> RB, Series B, 2nd Lien, (AGM), 6.25%, 07/01/36<br>| 5 | &nbsp;&nbsp; 5008 |
| &nbsp;&nbsp;&nbsp; City of Lansing Michigan, Refunding GO, Series B, <br> (AGM), 4.13%, 06/01/48<br>| 1360 | &nbsp;&nbsp; 1231733 |
| &nbsp;&nbsp;&nbsp; Eastern Michigan University, RB, Series A, 4.00%, <br> 03/01/28<sup>(e)</sup><br>| 45 | &nbsp;&nbsp; 46057 |
| &nbsp;&nbsp;&nbsp; Great Lakes Water Authority Sewage Disposal System <br> Revenue, RB, Series B, 2nd Lien, 5.25%, 07/01/47<br>| 1490 | &nbsp;&nbsp; 1562744 |
| &nbsp;&nbsp;&nbsp; Great Lakes Water Authority Water Supply System <br> Revenue, RB, Series A, Senior Lien, 5.25%, <br> 07/01/52<br>| 3525 | &nbsp;&nbsp; 3663506 |
| Michigan Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 02/15/47 | 4815 | &nbsp;&nbsp; 4289921 |
| &nbsp;&nbsp;&nbsp; 4.00%, 02/15/50 | 3140 | &nbsp;&nbsp; 2768628 |
| &nbsp;&nbsp;&nbsp; Sustainability Bonds, 5.50%, 02/28/57 | 355 | &nbsp;&nbsp; 371980 |
| &nbsp;&nbsp;&nbsp; Michigan State Building Authority, Refunding RB, <br> Series I, 4.00%, 10/15/52<br>| 710 | &nbsp;&nbsp; 610459 |
| &nbsp;&nbsp;&nbsp; Michigan State Housing Development Authority, RB, S/F <br> Housing, Series D, Sustainability Bonds, 4.45%, <br> 12/01/49<br>| 1085 | &nbsp;&nbsp; 1012453 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2025

**BlackRock MuniHoldings Fund, Inc. (MHD)** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Michigan (continued)** | **Michigan (continued)** |  |
| Michigan Strategic Fund, RB, AMT, 5.00%, 12/31/43 | 1795 | &nbsp;&nbsp; $1794997 |
| &nbsp;&nbsp;&nbsp; State of Michigan Trunk Line Revenue, RB, 5.00%, <br> 11/15/46<br>| 1980 | &nbsp;&nbsp; 2059491 |
|  |  | &nbsp;&nbsp; 19416977 |
| **Minnesota — 1.8%** | **Minnesota — 1.8%** |  |
| &nbsp;&nbsp;&nbsp; City of Spring Lake Park New Mexico, RB, 5.00%, <br> 06/15/39<br>| 1080 | &nbsp;&nbsp; 1019343 |
| Duluth Economic Development Authority, Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 4.25%, 02/15/48 | 3800 | &nbsp;&nbsp; 3376964 |
| &nbsp;&nbsp;&nbsp; Series A, 5.25%, 02/15/53 | 415 | &nbsp;&nbsp; 416111 |
| &nbsp;&nbsp;&nbsp; Series A, 5.25%, 02/15/58 | 1605 | &nbsp;&nbsp; 1605442 |
| &nbsp;&nbsp;&nbsp; Minneapolis-St. Paul Metropolitan Airports Commission, <br> ARB, AMT, 5.25%, 01/01/49<br>| 3305 | &nbsp;&nbsp; 3368435 |
| &nbsp;&nbsp;&nbsp; Minnesota Agricultural & Economic Development Board, <br> RB, 5.25%, 01/01/54<br>| 1660 | &nbsp;&nbsp; 1704643 |
|  |  | &nbsp;&nbsp; 11490938 |
| **Mississippi — 1.0%** | **Mississippi — 1.0%** |  |
| &nbsp;&nbsp;&nbsp; Mississippi Development Bank, RB, (AGM), 6.88%, <br> 12/01/40<br>| 3595 | &nbsp;&nbsp; 3649270 |
| &nbsp;&nbsp;&nbsp; Mississippi Home Corp., RB, S/F Housing, Series C, <br> (FHLMC, FNMA, GNMA), 4.80%, 12/01/49<br>| 2970 | &nbsp;&nbsp; 2953189 |
|  |  | &nbsp;&nbsp; 6602459 |
| **Missouri — 1.0%** | **Missouri — 1.0%** |  |
| &nbsp;&nbsp;&nbsp; Health & Educational Facilities Authority of the State of <br> Missouri, Refunding RB, Series A, 4.00%, 02/15/49<br>| 1910 | &nbsp;&nbsp; 1648001 |
| Kansas City Industrial Development Authority, ARB |  |  |
| &nbsp;&nbsp;&nbsp; AMT, (AGM), 5.00%, 03/01/49 | 1755 | &nbsp;&nbsp; 1740899 |
| &nbsp;&nbsp;&nbsp; AMT, (AGM), 5.00%, 03/01/55 | 1775 | &nbsp;&nbsp; 1760363 |
| &nbsp;&nbsp;&nbsp; Missouri Housing Development Commission, RB, S/F <br> Housing, Series C, (FHLMC, FNMA, GNMA), 4.55%, <br> 11/01/44<br>| 1335 | &nbsp;&nbsp; 1337490 |
|  |  | &nbsp;&nbsp; 6486753 |
| **Nebraska — 1.5%** | **Nebraska — 1.5%** |  |
| &nbsp;&nbsp;&nbsp; Omaha Public Power District, Refunding RB, Series B, <br> 02/01/48<sup>(i)</sup><br>| 8975 | &nbsp;&nbsp; 9452380 |
| **Nevada — 0.1%** | **Nevada — 0.1%** |  |
| Tahoe-Douglas Visitors Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 07/01/40 | 310 | &nbsp;&nbsp; 313898 |
| &nbsp;&nbsp;&nbsp; 5.00%, 07/01/45 | 420 | &nbsp;&nbsp; 421422 |
|  |  | &nbsp;&nbsp; 735320 |
| **New Hampshire — 0.5%** | **New Hampshire — 0.5%** |  |
| &nbsp;&nbsp;&nbsp; New Hampshire Business Finance Authority, <br> Series 2025-1, Class A1, 4.17%, 01/20/41<sup>(a)</sup><br>| 1014 | &nbsp;&nbsp; 963026 |
| &nbsp;&nbsp;&nbsp; New Hampshire Business Finance Authority, RB, M/F <br> Housing<br>|  |  |
| &nbsp;&nbsp;&nbsp; Class B, 5.75%, 04/28/42 | 1285 | &nbsp;&nbsp; 1295037 |
| &nbsp;&nbsp;&nbsp; Series 2, Sustainability Bonds, 4.25%, 07/20/41 | 963 | &nbsp;&nbsp; 917231 |
|  |  | &nbsp;&nbsp; 3175294 |
| **New Jersey — 7.5%** | **New Jersey — 7.5%** |  |
| &nbsp;&nbsp;&nbsp; New Jersey Economic Development Authority, ARB, <br> Series B, AMT, 5.63%, 11/15/30<br>| 660 | &nbsp;&nbsp; 660252 |
| New Jersey Economic Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 12/15/28<sup>(e)</sup> | 60 | &nbsp;&nbsp; 63918 |
| &nbsp;&nbsp;&nbsp; 5.00%, 06/15/34 | 365 | &nbsp;&nbsp; 382922 |
| &nbsp;&nbsp;&nbsp; 5.00%, 06/15/36 | 460 | &nbsp;&nbsp; 479435 |
| &nbsp;&nbsp;&nbsp; 5.00%, 06/15/43 | 100 | &nbsp;&nbsp; 101335 |
| &nbsp;&nbsp;&nbsp; Class A, 5.25%, 11/01/47 | 4795 | &nbsp;&nbsp; 4948580 |
| &nbsp;&nbsp;&nbsp; Series B, 4.50%, 06/15/40 | 1270 | &nbsp;&nbsp; 1259576 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **New Jersey (continued)** | **New Jersey (continued)** |  |
| &nbsp;&nbsp;&nbsp; New Jersey Economic Development Authority, <br> RB (continued)<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series EEE, 5.00%, 06/15/48 | 4275 | &nbsp;&nbsp; $4298059 |
| &nbsp;&nbsp;&nbsp; AMT, (AGM), 5.00%, 01/01/31 | 790 | &nbsp;&nbsp; 793565 |
| &nbsp;&nbsp;&nbsp; AMT, (AGM), 5.13%, 07/01/42 | 200 | &nbsp;&nbsp; 200012 |
| &nbsp;&nbsp;&nbsp; AMT, 5.38%, 01/01/43 | 3000 | &nbsp;&nbsp; 3000978 |
| &nbsp;&nbsp;&nbsp; New Jersey Economic Development Authority, <br> Refunding SAB<br>|  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 04/01/28 | 2803 | &nbsp;&nbsp; 2866707 |
| &nbsp;&nbsp;&nbsp; 5.75%, 04/01/31 | 2675 | &nbsp;&nbsp; 2736336 |
| &nbsp;&nbsp;&nbsp; New Jersey Higher Education Student Assistance <br> Authority, Refunding RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series B, AMT, 4.00%, 12/01/41 | 2650 | &nbsp;&nbsp; 2562618 |
| &nbsp;&nbsp;&nbsp; Series C, AMT, Subordinate, 5.00%, 12/01/52 | 3425 | &nbsp;&nbsp; 3249014 |
| &nbsp;&nbsp;&nbsp; New Jersey Housing & Mortgage Finance Agency, RB, <br> S/F Housing, Series K, Sustainability Bonds, 4.55%, <br> 10/01/44<br>| 810 | &nbsp;&nbsp; 786752 |
| New Jersey Transportation Trust Fund Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 12/15/28<sup>(e)</sup> | 725 | &nbsp;&nbsp; 772340 |
| &nbsp;&nbsp;&nbsp; 5.00%, 12/15/32<sup>(e)</sup> | 4075 | &nbsp;&nbsp; 4546668 |
| &nbsp;&nbsp;&nbsp; 5.00%, 06/15/46 | 1345 | &nbsp;&nbsp; 1352701 |
| &nbsp;&nbsp;&nbsp; Series AA, 5.00%, 06/15/45 | 900 | &nbsp;&nbsp; 887950 |
| &nbsp;&nbsp;&nbsp; Series AA, 5.00%, 06/15/46 | 400 | &nbsp;&nbsp; 393027 |
| &nbsp;&nbsp;&nbsp; Series S, 4.13%, 06/15/39 | 1040 | &nbsp;&nbsp; 988551 |
| &nbsp;&nbsp;&nbsp; Series S, 5.25%, 06/15/43 | 2810 | &nbsp;&nbsp; 2876313 |
| &nbsp;&nbsp;&nbsp; New Jersey Transportation Trust Fund Authority, RB, <br> CAB, Series A, 0.00%, 12/15/35<sup>(d)</sup><br>| 1000 | &nbsp;&nbsp; 646419 |
| &nbsp;&nbsp;&nbsp; New Jersey Transportation Trust Fund Authority, <br> Refunding RB, Series A, 5.25%, 06/15/42<br>| 575 | &nbsp;&nbsp; 606096 |
| Tobacco Settlement Financing Corp., Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 06/01/46 | 2995 | &nbsp;&nbsp; 2976195 |
| &nbsp;&nbsp;&nbsp; Series A, 5.25%, 06/01/46 | 4430 | &nbsp;&nbsp; 4449263 |
|  |  | &nbsp;&nbsp; 48885582 |
| **New Mexico — 0.0%** | **New Mexico — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; City of Santa Fe New Mexico, RB, Series A, 5.00%, <br> 05/15/44<br>| 200 | &nbsp;&nbsp; 190288 |
| **New York — 13.2%** | **New York — 13.2%** |  |
| City of New York, GO |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 08/01/46 | 2265 | &nbsp;&nbsp; 2347929 |
| &nbsp;&nbsp;&nbsp; Series A-1, 4.00%, 09/01/46 | 2175 | &nbsp;&nbsp; 1978509 |
| &nbsp;&nbsp;&nbsp; Series C-1, 5.25%, 09/01/50 | 5000 | &nbsp;&nbsp; 5260570 |
| &nbsp;&nbsp;&nbsp; Series - G-1, 5.25%, 02/01/53 | 550 | &nbsp;&nbsp; 579917 |
| Empire State Development Corp., RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 4.00%, 03/15/45 | 3000 | &nbsp;&nbsp; 2779802 |
| &nbsp;&nbsp;&nbsp; Series A, 4.00%, 03/15/49 | 1600 | &nbsp;&nbsp; 1433896 |
| &nbsp;&nbsp;&nbsp; Empire State Development Corp., Refunding RB, <br> 4.00%, 03/15/49<br>| 1850 | &nbsp;&nbsp; 1651946 |
| &nbsp;&nbsp;&nbsp; Erie Tobacco Asset Securitization Corp., Refunding RB, <br> Series A, 5.00%, 06/01/45<br>| 3585 | &nbsp;&nbsp; 3209999 |
| Metropolitan Transportation Authority, Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; Series C-1, 5.00%, 11/15/56 | 2670 | &nbsp;&nbsp; 2591900 |
| &nbsp;&nbsp;&nbsp; Series C-1, 5.25%, 11/15/56 | 10 | &nbsp;&nbsp; 10014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, Sustainability Bonds, (BAM), 4.00%, <br> 11/15/48<br>| 2770 | &nbsp;&nbsp; 2426558 |
| &nbsp;&nbsp;&nbsp; Series C-1, Sustainability Bonds, 4.75%, 11/15/45 | 1950 | &nbsp;&nbsp; 1941557 |
| &nbsp;&nbsp;&nbsp; Series C-1, Sustainability Bonds, 5.00%, 11/15/50 | 370 | &nbsp;&nbsp; 371677 |
| &nbsp;&nbsp;&nbsp; Series C-1, Sustainability Bonds, 5.25%, 11/15/55 | 1040 | &nbsp;&nbsp; 1057678 |
| &nbsp;&nbsp;&nbsp; New York City Housing Development Corp., RB, M/F <br> Housing<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, Sustainability Bonds, (FHLMC, FNMA, <br> GNMA), 4.70%, 08/01/54<br>| 2565 | &nbsp;&nbsp; 2479053 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

April 30, 2025

**BlackRock MuniHoldings Fund, Inc. (MHD)** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **New York (continued)** | **New York (continued)** |  |
| &nbsp;&nbsp;&nbsp; New York City Housing Development Corp., RB, M/F <br> Housing (continued)<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series E-1, Sustainability Bonds, 4.85%, 11/01/53 | 2165 | &nbsp;&nbsp; $2146769 |
| &nbsp;&nbsp;&nbsp; New York City Transitional Finance Authority Future Tax <br> Secured Revenue, RB, Series F-1, Subordinate, <br> 4.00%, 02/01/51<br>| 5500 | &nbsp;&nbsp; 4833009 |
| New York Counties Tobacco Trust IV, Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 06/01/38 | 1360 | &nbsp;&nbsp; 1234984 |
| &nbsp;&nbsp;&nbsp; Series A, 6.25%, 06/01/41<sup>(b)</sup> | 2900 | &nbsp;&nbsp; 2899944 |
| New York Counties Tobacco Trust VI, Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A-2B, 5.00%, 06/01/45 | 255 | &nbsp;&nbsp; 227706 |
| &nbsp;&nbsp;&nbsp; Series A-2B, 5.00%, 06/01/51 | 245 | &nbsp;&nbsp; 216525 |
| New York Liberty Development Corp., Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; Class 1, 5.00%, 11/15/44<sup>(b)</sup> | 3920 | &nbsp;&nbsp; 3895643 |
| &nbsp;&nbsp;&nbsp; Class 2, 5.38%, 11/15/40<sup>(b)</sup> | 1450 | &nbsp;&nbsp; 1449945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, Sustainability Bonds, (BAM-TCRS), 3.00%, <br> 11/15/51<br>| 4565 | &nbsp;&nbsp; 3030746 |
| &nbsp;&nbsp;&nbsp; Series A, Sustainability Bonds, 3.00%, 11/15/51 | 1685 | &nbsp;&nbsp; 1157288 |
| &nbsp;&nbsp;&nbsp; New York Power Authority, RB, Series A, Sustainability <br> Bonds, (AGM), 5.13%, 11/15/58<br>| 1305 | &nbsp;&nbsp; 1334969 |
| &nbsp;&nbsp;&nbsp; New York Power Authority, Refunding RB, Series A, <br> Sustainability Bonds, 4.00%, 11/15/55<br>| 1160 | &nbsp;&nbsp; 1027717 |
| &nbsp;&nbsp;&nbsp; New York State Dormitory Authority, Refunding RB, <br> Series A, 4.00%, 03/15/54<br>| 1895 | &nbsp;&nbsp; 1671419 |
| &nbsp;&nbsp;&nbsp; New York Transportation Development Corp., ARB, <br> AMT, 5.63%, 04/01/40<br>| 1265 | &nbsp;&nbsp; 1310762 |
| New York Transportation Development Corp., RB |  |  |
| &nbsp;&nbsp;&nbsp; AMT, 5.00%, 10/01/35 | 1910 | &nbsp;&nbsp; 1936684 |
| &nbsp;&nbsp;&nbsp; AMT, Sustainability Bonds, (AGM), 5.00%, 06/30/49 | 3880 | &nbsp;&nbsp; 3847716 |
| &nbsp;&nbsp;&nbsp; AMT, Sustainability Bonds, 5.50%, 06/30/54 | 1985 | &nbsp;&nbsp; 2014565 |
| &nbsp;&nbsp;&nbsp; AMT, Sustainability Bonds, 6.00%, 06/30/54 | 1935 | &nbsp;&nbsp; 2025732 |
| &nbsp;&nbsp;&nbsp; AMT, Sustainability Bonds, 5.50%, 06/30/60 | 5070 | &nbsp;&nbsp; 5111727 |
| &nbsp;&nbsp;&nbsp; New York Transportation Development Corp., Refunding <br> RB, Series A, AMT, Sustainability Bonds, 5.50%, <br> 12/31/60<br>| 3275 | &nbsp;&nbsp; 3306860 |
| &nbsp;&nbsp;&nbsp; Port Authority of New York & New Jersey, Refunding <br> ARB, AMT, 5.00%, 01/15/47<br>| 4860 | &nbsp;&nbsp; 4889332 |
| &nbsp;&nbsp;&nbsp; Triborough Bridge & Tunnel Authority Sales Tax <br> Revenue, RB, Series A, 4.25%, 05/15/58<br>| 6415 | &nbsp;&nbsp; 5873916 |
| TSASC, Inc., Refunding RB, Series A, 5.00%, 06/01/41 | 535 | &nbsp;&nbsp; 537972 |
| &nbsp;&nbsp;&nbsp; Westchester Tobacco Asset Securitization Corp., <br> Refunding RB, Sub-Series C, 4.00%, 06/01/42<br>| 290 | &nbsp;&nbsp; 253368 |
|  |  | &nbsp;&nbsp; 86356303 |
| **North Carolina — 0.3%** | **North Carolina — 0.3%** |  |
| &nbsp;&nbsp;&nbsp; North Carolina Housing Finance Agency, RB, S/F <br> Housing, Series 54-A, (FHLMC, FNMA, GNMA), <br> 4.70%, 07/01/50<br>| 1445 | &nbsp;&nbsp; 1420258 |
| &nbsp;&nbsp;&nbsp; University of North Carolina at Chapel Hill, RB, 5.00%, <br> 02/01/49<br>| 460 | &nbsp;&nbsp; 493617 |
|  |  | &nbsp;&nbsp; 1913875 |
| **North Dakota — 0.4%** | **North Dakota — 0.4%** |  |
| &nbsp;&nbsp;&nbsp; North Dakota Housing Finance Agency, RB, S/F <br> Housing, Series C, Sustainability Bonds, 4.75%, <br> 07/01/49<br>| 2585 | &nbsp;&nbsp; 2543895 |
| **Ohio — 1.8%** | **Ohio — 1.8%** |  |
| &nbsp;&nbsp;&nbsp; Buckeye Tobacco Settlement Financing Authority, <br> Refunding RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A-2, Class 1, 4.00%, 06/01/48 | 610 | &nbsp;&nbsp; 513288 |
| &nbsp;&nbsp;&nbsp; Series B-2, Class 2, 5.00%, 06/01/55 | 3680 | &nbsp;&nbsp; 3168194 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Ohio (continued)** | **Ohio (continued)** |  |
| &nbsp;&nbsp;&nbsp; Columbus Regional Airport Authority, Refunding ARB, <br> AMT, 5.50%, 01/01/55<br>| 1745 | &nbsp;&nbsp; $1812706 |
| County of Franklin Ohio, RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 4.00%, 12/01/44 | 365 | &nbsp;&nbsp; 325635 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 12/01/47 | 290 | &nbsp;&nbsp; 290674 |
| &nbsp;&nbsp;&nbsp; County of Hamilton Ohio, RB, Series CC, 5.00%, <br> 11/15/49<br>| 550 | &nbsp;&nbsp; 567760 |
| &nbsp;&nbsp;&nbsp; Ohio Housing Finance Agency, RB, S/F Housing, <br> Series B, Sustainability Bonds, (FHLMC, FNMA, <br> GNMA), 4.65%, 09/01/49<br>| 3175 | &nbsp;&nbsp; 3110582 |
| State of Ohio, Refunding RB, Series A, 4.00%, 01/15/50 | 2250 | &nbsp;&nbsp; 1876263 |
|  |  | &nbsp;&nbsp; 11665102 |
| **Oklahoma — 0.8%** | **Oklahoma — 0.8%** |  |
| &nbsp;&nbsp;&nbsp; Creek County Educational Facilities Authority, RB, <br> (BAM), 4.13%, 09/01/48<br>| 890 | &nbsp;&nbsp; 806927 |
| &nbsp;&nbsp;&nbsp; Oklahoma Development Finance Authority, RB, <br> Series B, 5.50%, 08/15/52<br>| 1080 | &nbsp;&nbsp; 1081324 |
| &nbsp;&nbsp;&nbsp; Oklahoma Water Resources Board, RB, (OK CERF), <br> 4.00%, 04/01/48<br>| 950 | &nbsp;&nbsp; 866538 |
| &nbsp;&nbsp;&nbsp; University of Oklahoma, RB, Series A, (BAM), 5.00%, <br> 07/01/54<br>| 2660 | &nbsp;&nbsp; 2703654 |
|  |  | &nbsp;&nbsp; 5458443 |
| **Oregon — 0.0%** | **Oregon — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Clackamas County School District No. 12 North <br> Clackamas, GO, CAB, Series A, (GTD), 0.00%, <br> 06/15/38<sup>(d)</sup><br>| 510 | &nbsp;&nbsp; 268996 |
| **Pennsylvania — 5.0%** | **Pennsylvania — 5.0%** |  |
| &nbsp;&nbsp;&nbsp; Allegheny County Airport Authority, ARB, Series A, AMT, <br> (AGM-CR), 4.00%, 01/01/56<br>| 1670 | &nbsp;&nbsp; 1374821 |
| &nbsp;&nbsp;&nbsp; Allegheny County Hospital Development Authority, <br> Refunding RB, Series A, 5.00%, 04/01/47<br>| 2130 | &nbsp;&nbsp; 2095045 |
| &nbsp;&nbsp;&nbsp; Montgomery County Higher Education and Health <br> Authority, Refunding RB, 4.00%, 09/01/51<br>| 1430 | &nbsp;&nbsp; 1173818 |
| &nbsp;&nbsp;&nbsp; Montgomery County Industrial Development Authority, <br> RB, Series C, 5.00%, 11/15/45<br>| 605 | &nbsp;&nbsp; 600615 |
| &nbsp;&nbsp;&nbsp; Pennsylvania Economic Development Financing <br> Authority, RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 06/30/42 | 390 | &nbsp;&nbsp; 384105 |
| &nbsp;&nbsp;&nbsp; AMT, 5.50%, 06/30/40 | 2000 | &nbsp;&nbsp; 2076196 |
| &nbsp;&nbsp;&nbsp; AMT, 5.75%, 06/30/48 | 3150 | &nbsp;&nbsp; 3239653 |
| &nbsp;&nbsp;&nbsp; Pennsylvania Economic Development Financing <br> Authority, Refunding RB, AMT, 5.50%, 11/01/44<br>| 1905 | &nbsp;&nbsp; 1892871 |
| &nbsp;&nbsp;&nbsp; Pennsylvania Higher Educational Facilities Authority, <br> Refunding RB, Series B2, 5.50%, 11/01/54<br>| 2280 | &nbsp;&nbsp; 2359648 |
| &nbsp;&nbsp;&nbsp; Pennsylvania Housing Finance Agency, RB, S/F <br> Housing, Series 145A, Sustainability Bonds, 4.75%, <br> 10/01/49<br>| 5595 | &nbsp;&nbsp; 5590662 |
| &nbsp;&nbsp;&nbsp; Pennsylvania Housing Finance Agency, Refunding RB, <br> S/F Housing, Series 142-A, Sustainability Bonds, <br> 5.00%, 10/01/50<br>| 1130 | &nbsp;&nbsp; 1137419 |
| &nbsp;&nbsp;&nbsp; Pennsylvania Turnpike Commission Oil Franchise Tax <br> Revenue, Refunding RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 4.00%, 12/01/51 | 9445 | &nbsp;&nbsp; 8339496 |
| &nbsp;&nbsp;&nbsp; Series B, 4.00%, 12/01/53 | 1435 | &nbsp;&nbsp; 1223060 |
| Pennsylvania Turnpike Commission, RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, Subordinate, 4.00%, 12/01/50 | 1075 | &nbsp;&nbsp; 945530 |
| &nbsp;&nbsp;&nbsp; Series B, Subordinate, 4.00%, 12/01/51 | 610 | &nbsp;&nbsp; 534062 |
|  |  | &nbsp;&nbsp; 32967001 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2025

**BlackRock MuniHoldings Fund, Inc. (MHD)** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Puerto Rico — 5.4%** | **Puerto Rico — 5.4%** |  |
| Commonwealth of Puerto Rico, GO |  |  |
| &nbsp;&nbsp;&nbsp; Series A-1, Restructured, 5.63%, 07/01/29 | $3910 | &nbsp;&nbsp; $4031574 |
| &nbsp;&nbsp;&nbsp; Series A-1, Restructured, 5.75%, 07/01/31 | 3524 | &nbsp;&nbsp; 3709229 |
| &nbsp;&nbsp;&nbsp; Puerto Rico Sales Tax Financing Corp. Sales Tax <br> Revenue, RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A-1, Restructured, 4.75%, 07/01/53 | 9216 | &nbsp;&nbsp; 8493230 |
| &nbsp;&nbsp;&nbsp; Series A-1, Restructured, 5.00%, 07/01/58 | 11123 | &nbsp;&nbsp; 10570149 |
| &nbsp;&nbsp;&nbsp; Series A-2, Restructured, 4.78%, 07/01/58 | 2097 | &nbsp;&nbsp; 1916139 |
| &nbsp;&nbsp;&nbsp; Series B-2, Restructured, 4.78%, 07/01/58 | 412 | &nbsp;&nbsp; 377728 |
| &nbsp;&nbsp;&nbsp; Puerto Rico Sales Tax Financing Corp. Sales Tax <br> Revenue, RB, CAB, Series A-1, Restructured, 0.00%, <br> 07/01/46<sup>(d)</sup><br>| 18719 | &nbsp;&nbsp; 6000989 |
|  |  | &nbsp;&nbsp; 35099038 |
| **Rhode Island — 0.7%** | **Rhode Island — 0.7%** |  |
| &nbsp;&nbsp;&nbsp; Rhode Island Housing & Mortgage Finance Corp., RB, <br> S/F Housing<br>|  |  |
| &nbsp;&nbsp;&nbsp; Sustainability Bonds, (GNMA), 4.60%, 10/01/44 | 2970 | &nbsp;&nbsp; 2922856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, Sustainability Bonds, (GNMA), 4.45%, <br> 10/01/44<br>| 1550 | &nbsp;&nbsp; 1490785 |
|  |  | &nbsp;&nbsp; 4413641 |
| **South Carolina — 2.5%** | **South Carolina — 2.5%** |  |
| &nbsp;&nbsp;&nbsp; Charleston County Airport District, ARB, Series A, AMT, <br> 5.25%, 07/01/54<br>| 1150 | &nbsp;&nbsp; 1176029 |
| County of Berkeley Indiana, SAB |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 11/01/40 | 315 | &nbsp;&nbsp; 279348 |
| &nbsp;&nbsp;&nbsp; 4.38%, 11/01/49 | 470 | &nbsp;&nbsp; 393292 |
| &nbsp;&nbsp;&nbsp; Patriots Energy Group Financing Agency, RB, Series A1, <br> 5.25%, 10/01/54<sup>(a)</sup><br>| 1575 | &nbsp;&nbsp; 1670913 |
| &nbsp;&nbsp;&nbsp; South Carolina Jobs-Economic Development Authority, <br> RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 01/01/55<sup>(b)</sup> | 845 | &nbsp;&nbsp; 703637 |
| &nbsp;&nbsp;&nbsp; Series A, 5.50%, 11/01/50 | 2755 | &nbsp;&nbsp; 2940887 |
| &nbsp;&nbsp;&nbsp; Series A, 5.50%, 11/01/54 | 980 | &nbsp;&nbsp; 1031820 |
| &nbsp;&nbsp;&nbsp; South Carolina Jobs-Economic Development Authority, <br> Refunding RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 12/01/44 | 2015 | &nbsp;&nbsp; 1758659 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 05/01/43 | 1680 | &nbsp;&nbsp; 1696477 |
| &nbsp;&nbsp;&nbsp; Series A, 4.25%, 05/01/48 | 1385 | &nbsp;&nbsp; 1254171 |
| &nbsp;&nbsp;&nbsp; South Carolina Public Service Authority, RB, Series A, <br> 5.50%, 12/01/54<br>| 965 | &nbsp;&nbsp; 1011412 |
| South Carolina Public Service Authority, Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.25%, 12/01/50 | 1015 | &nbsp;&nbsp; 1037655 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 12/01/55 | 990 | &nbsp;&nbsp; 995572 |
| &nbsp;&nbsp;&nbsp; South Carolina State Housing Finance & Development <br> Authority, Refunding RB, S/F Housing, Series A, <br> 4.95%, 07/01/53<br>| 205 | &nbsp;&nbsp; 211929 |
|  |  | &nbsp;&nbsp; 16161801 |
| **South Dakota — 0.8%** | **South Dakota — 0.8%** |  |
| &nbsp;&nbsp;&nbsp; South Dakota Health & Educational Facilities Authority, <br> Refunding RB, 5.00%, 07/01/46<br>| 5205 | &nbsp;&nbsp; 5109242 |
| **Tennessee — 2.9%** | **Tennessee — 2.9%** |  |
| &nbsp;&nbsp;&nbsp; Knox County Health Educational & Housing Facility <br> Board, RB, Series A-1, (BAM), 5.50%, 07/01/59<br>| 430 | &nbsp;&nbsp; 456597 |
| Memphis-Shelby County Airport Authority, ARB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 5.00%, 07/01/45 | 3515 | &nbsp;&nbsp; 3507321 |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 5.00%, 07/01/49 | 11275 | &nbsp;&nbsp; 11145214 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Tennessee (continued)** | **Tennessee (continued)** |  |
| &nbsp;&nbsp;&nbsp; Metropolitan Government Nashville & Davidson County <br> Health & Educational cilities Board, RB, 5.25%, <br> 05/01/48<br>| 555 | &nbsp;&nbsp; $556381 |
| &nbsp;&nbsp;&nbsp; Metropolitan Government Nashville & Davidson County <br> Health & Educational cilities Board, Refunding RB, <br> 4.00%, 10/01/49<br>| 230 | &nbsp;&nbsp; 183343 |
| &nbsp;&nbsp;&nbsp; Metropolitan Government Nashville & Davidson County <br> Health & Educational Facs Board, Refunding RB, <br> 5.25%, 10/01/58<br>| 2930 | &nbsp;&nbsp; 2906638 |
|  |  | &nbsp;&nbsp; 18755494 |
| **Texas — 11.1%** | **Texas — 11.1%** |  |
| Arlington Higher Education Finance Corp., RB<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 7.50%, 04/01/62 | 1165 | &nbsp;&nbsp; 1119023 |
| &nbsp;&nbsp;&nbsp; 7.88%, 11/01/62 | 1005 | &nbsp;&nbsp; 1018423 |
| City of Austin Texas Airport System Revenue, ARB |  |  |
| &nbsp;&nbsp;&nbsp; AMT, 5.25%, 11/15/47 | 2500 | &nbsp;&nbsp; 2536448 |
| &nbsp;&nbsp;&nbsp; Series B, AMT, 5.00%, 11/15/44 | 1290 | &nbsp;&nbsp; 1294175 |
| &nbsp;&nbsp;&nbsp; City of Galveston Texas Wharves & Terminal Revenue, <br> ARB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 1st Lien, 5.50%, 08/01/43 | 100 | &nbsp;&nbsp; 105064 |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 1st Lien, 5.50%, 08/01/44 | 100 | &nbsp;&nbsp; 104564 |
| &nbsp;&nbsp;&nbsp; City of Garland Texas Electric Utility System Revenue, <br> Refunding RB, (AGM), 4.25%, 03/01/48<br>| 275 | &nbsp;&nbsp; 256958 |
| &nbsp;&nbsp;&nbsp; City of Houston Texas Airport System Revenue, ARB, <br> Series B, AMT, 5.50%, 07/15/39<br>| 800 | &nbsp;&nbsp; 801037 |
| &nbsp;&nbsp;&nbsp; City of Houston Texas Airport System Revenue, <br> Refunding RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Sub-Series A, AMT, 4.00%, 07/01/40 | 1525 | &nbsp;&nbsp; 1397753 |
| &nbsp;&nbsp;&nbsp; Sub-Series A, AMT, 4.00%, 07/01/46 | 1390 | &nbsp;&nbsp; 1169579 |
| &nbsp;&nbsp;&nbsp; Sub-Series A, AMT, 4.00%, 07/01/48 | 3420 | &nbsp;&nbsp; 2823595 |
| &nbsp;&nbsp;&nbsp; City of San Antonio Texas Electric & Gas Systems <br> Revenue, Refunding RB, Series A, 5.50%, 02/01/50<br>| 6755 | &nbsp;&nbsp; 7248720 |
| &nbsp;&nbsp;&nbsp; County of Harris Texas Toll Road Revenue, Refunding <br> RB, Series A, 1st Lien, 4.00%, 08/15/49<br>| 7370 | &nbsp;&nbsp; 6533883 |
| &nbsp;&nbsp;&nbsp; Dallas Fort Worth International Airport, Refunding RB, <br> Series B, 4.00%, 11/01/45<br>| 3165 | &nbsp;&nbsp; 2842870 |
| &nbsp;&nbsp;&nbsp; Fort Bend Independent School District, Refunding GO, <br> Series A, (PSF), 4.00%, 08/15/49<br>| 990 | &nbsp;&nbsp; 902377 |
| &nbsp;&nbsp;&nbsp; Gunter Independent School District, GO, (PSF), 4.00%, <br> 02/15/53<br>| 470 | &nbsp;&nbsp; 409314 |
| &nbsp;&nbsp;&nbsp; Harris County Cultural Education Facilities Finance <br> Corp., Refunding RB, 4.00%, 10/01/47<br>| 655 | &nbsp;&nbsp; 582188 |
| &nbsp;&nbsp;&nbsp; Harris County Flood Control District, Refunding GOL, <br> Series A, Sustainability Bonds, 4.00%, 09/15/48<br>| 1340 | &nbsp;&nbsp; 1197115 |
| &nbsp;&nbsp;&nbsp; Harris County-Houston Sports Authority, Refunding RB, <br> Series G, Senior Lien, (NPFGC), 0.00%, 11/15/41<sup>(d)</sup><br>| 10690 | &nbsp;&nbsp; 4168738 |
| &nbsp;&nbsp;&nbsp; Hutto Independent School District, GO, (PSF), 5.00%, <br> 08/01/48<br>| 155 | &nbsp;&nbsp; 160451 |
| &nbsp;&nbsp;&nbsp; Midland County Fresh Water Supply District No. 1, RB, <br> CAB, Series A, 0.00%, 09/15/27<sup>(d)(e)</sup><br>| 14680 | &nbsp;&nbsp; 7575905 |
| &nbsp;&nbsp;&nbsp; New Braunfels Independent School District, GO, (PSF), <br> 4.00%, 02/01/52<br>| 970 | &nbsp;&nbsp; 859041 |
| &nbsp;&nbsp;&nbsp; New Caney Independent School District, GO, (PSF), <br> 4.00%, 02/15/49<br>| 2470 | &nbsp;&nbsp; 2201066 |
| &nbsp;&nbsp;&nbsp; New Hope Cultural Education Facilities Finance Corp., <br> RB, Series A, 5.00%, 08/15/50<sup>(b)</sup><br>| 455 | &nbsp;&nbsp; 353158 |
| &nbsp;&nbsp;&nbsp; North Texas Tollway Authority, RB, Series B, 0.00%, <br> 09/01/31<sup>(d)(e)</sup><br>| 2415 | &nbsp;&nbsp; 1207868 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

April 30, 2025

**BlackRock MuniHoldings Fund, Inc. (MHD)** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Texas (continued)** | **Texas (continued)** |  |
| &nbsp;&nbsp;&nbsp; North Texas Tollway Authority, Refunding RB, 4.25%, <br> 01/01/49<br>| 2235 | &nbsp;&nbsp; $2002218 |
| &nbsp;&nbsp;&nbsp; Permanent University Fund - Texas A&M University <br> System, Refunding RB, Series A, 5.00%, 07/01/54<br>| 1770 | &nbsp;&nbsp; 1837294 |
| &nbsp;&nbsp;&nbsp; Port Authority of Houston of Harris County Texas, ARB, <br> 1st Lien, 5.00%, 10/01/53<br>| 1375 | &nbsp;&nbsp; 1411551 |
| &nbsp;&nbsp;&nbsp; Spring Branch Independent School District, GO, (PSF), <br> 4.00%, 02/01/48<br>| 1275 | &nbsp;&nbsp; 1152280 |
| &nbsp;&nbsp;&nbsp; Tarrant County Cultural Education Facilities Finance <br> Corp., RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 4.00%, 07/01/53 | 6695 | &nbsp;&nbsp; 5913095 |
| &nbsp;&nbsp;&nbsp; Series B, 5.00%, 07/01/48 | 2000 | &nbsp;&nbsp; 2004096 |
| &nbsp;&nbsp;&nbsp; Tarrant County Cultural Education Facilities Finance <br> Corp., Refunding RB, 5.00%, 10/01/49<br>| 285 | &nbsp;&nbsp; 279860 |
| &nbsp;&nbsp;&nbsp; Texas City Industrial Development Corp., RB, <br> Series 2012, 4.13%, 12/01/45<br>| 255 | &nbsp;&nbsp; 221055 |
| &nbsp;&nbsp;&nbsp; Texas Transportation Commission State Highway <br> 249 System, RB, CAB<sup>(d)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 0.00%, 08/01/35 | 270 | &nbsp;&nbsp; 173038 |
| &nbsp;&nbsp;&nbsp; 0.00%, 08/01/36 | 145 | &nbsp;&nbsp; 88331 |
| &nbsp;&nbsp;&nbsp; 0.00%, 08/01/37 | 195 | &nbsp;&nbsp; 112365 |
| &nbsp;&nbsp;&nbsp; 0.00%, 08/01/38 | 200 | &nbsp;&nbsp; 109007 |
| &nbsp;&nbsp;&nbsp; 0.00%, 08/01/39 | 1000 | &nbsp;&nbsp; 515039 |
| &nbsp;&nbsp;&nbsp; 0.00%, 08/01/43 | 795 | &nbsp;&nbsp; 318019 |
| &nbsp;&nbsp;&nbsp; 0.00%, 08/01/44 | 605 | &nbsp;&nbsp; 226314 |
| &nbsp;&nbsp;&nbsp; 0.00%, 08/01/45 | 1135 | &nbsp;&nbsp; 396573 |
| &nbsp;&nbsp;&nbsp; Texas Water Development Board, RB, Series A, 4.38%, <br> 10/15/59<br>| 4780 | &nbsp;&nbsp; 4507738 |
| &nbsp;&nbsp;&nbsp; University of Houston, Refunding RB, Series A, 5.00%, <br> 02/15/56<br>| 1640 | &nbsp;&nbsp; 1652854 |
| &nbsp;&nbsp;&nbsp; Waxahachie Independent School District, GO, (PSF), <br> 4.00%, 02/15/49<br>| 1100 | &nbsp;&nbsp; 1003613 |
|  |  | &nbsp;&nbsp; 72793653 |
| **Utah — 1.2%** | **Utah — 1.2%** |  |
| &nbsp;&nbsp;&nbsp; Black Desert Public Infrastructure District, SAB, 5.63%, <br> 12/01/53<sup>(b)</sup><br>| 375 | &nbsp;&nbsp; 364956 |
| City of Salt Lake City Utah Airport Revenue, ARB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 5.00%, 07/01/48 | 3410 | &nbsp;&nbsp; 3366577 |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 5.00%, 07/01/51 | 1340 | &nbsp;&nbsp; 1331593 |
| &nbsp;&nbsp;&nbsp; Utah Charter School Finance Authority, RB, 5.00%, <br> 06/15/39<sup>(b)</sup><br>| 200 | &nbsp;&nbsp; 188767 |
| Utah Charter School Finance Authority, Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 06/15/40<sup>(b)</sup> | 150 | &nbsp;&nbsp; 143347 |
| &nbsp;&nbsp;&nbsp; (UT), 4.00%, 04/15/42 | 400 | &nbsp;&nbsp; 361396 |
| &nbsp;&nbsp;&nbsp; 5.00%, 06/15/55<sup>(b)</sup> | 385 | &nbsp;&nbsp; 342514 |
| &nbsp;&nbsp;&nbsp; Utah Housing Corp., RB, S/F Housing, Series E, <br> (FHLMC, FNMA, GNMA), 4.70%, 01/01/50<br>| 1850 | &nbsp;&nbsp; 1818071 |
|  |  | &nbsp;&nbsp; 7917221 |
| **Vermont — 0.0%** | **Vermont — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Vermont Student Assistance Corp., RB, Series A, AMT, <br> 4.13%, 06/15/30<br>| 275 | &nbsp;&nbsp; 275025 |
| **Virginia — 0.8%** | **Virginia — 0.8%** |  |
| &nbsp;&nbsp;&nbsp; Ballston Quarter Community Development Authority, TA, <br> Series A-1, 5.50%, 03/01/46<br>| 185 | &nbsp;&nbsp; 191514 |
| &nbsp;&nbsp;&nbsp; Ballston Quarter Community Development Authority, TA, <br> CAB, Series A-2, 7.13%, 03/01/59<sup>(c)</sup><br>| 444 | &nbsp;&nbsp; 368976 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Virginia (continued)** | **Virginia (continued)** |  |
| &nbsp;&nbsp;&nbsp; Henrico County Economic Development Authority, RB, <br> 11/01/48<sup>(i)</sup><br>| 1815 | &nbsp;&nbsp; $1819374 |
| &nbsp;&nbsp;&nbsp; Virginia Housing Development Authority, RB, S/F <br> Housing, Series E-2, 4.40%, 10/01/44<br>| 365 | &nbsp;&nbsp; 351219 |
| &nbsp;&nbsp;&nbsp; Virginia Small Business Financing Authority, RB, AMT, <br> 5.00%, 12/31/52<br>| 2330 | &nbsp;&nbsp; 2226583 |
|  |  | &nbsp;&nbsp; 4957666 |
| **Washington — 1.0%** | **Washington — 1.0%** |  |
| &nbsp;&nbsp;&nbsp; Port of Seattle Washington, Refunding ARB, Series C, <br> AMT, Intermediate Lien, 5.00%, 08/01/46<br>| 5645 | &nbsp;&nbsp; 5609981 |
| &nbsp;&nbsp;&nbsp; Washington State Housing Finance Commission, <br> Refunding RB, 5.00%, 01/01/43<sup>(b)</sup><br>| 900 | &nbsp;&nbsp; 833545 |
|  |  | &nbsp;&nbsp; 6443526 |
| **Wisconsin — 0.5%** | **Wisconsin — 0.5%** |  |
| Public Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 07/01/55<sup>(b)</sup> | 300 | &nbsp;&nbsp; 252393 |
| &nbsp;&nbsp;&nbsp; Series A-1, 4.50%, 01/01/35<sup>(b)</sup> | 205 | &nbsp;&nbsp; 198362 |
| &nbsp;&nbsp;&nbsp; Series A, AMT, Senior Lien, 5.75%, 07/01/49 | 2655 | &nbsp;&nbsp; 2732355 |
| &nbsp;&nbsp;&nbsp; Public Finance Authority, Refunding RB, 5.00%, <br> 09/01/49<sup>(b)</sup><br>| 305 | &nbsp;&nbsp; 278264 |
|  |  | &nbsp;&nbsp; 3461374 |
| **Total Municipal Bonds — 114.1%** <br>**(Cost: $746,013,919)** | **Total Municipal Bonds — 114.1%** <br>**(Cost: $746,013,919)** | &nbsp;&nbsp; 745521901 |
| **Municipal Bonds Transferred to Tender Option Bond Trusts**<sup>(j)</sup> | **Municipal Bonds Transferred to Tender Option Bond Trusts**<sup>(j)</sup> | **Municipal Bonds Transferred to Tender Option Bond Trusts**<sup>(j)</sup> |
| **Alabama**<sup>(a)</sup> **— 6.1%** | **Alabama**<sup>(a)</sup> **— 6.1%** |  |
| Black Belt Energy Gas District, RB |  |  |
| &nbsp;&nbsp;&nbsp; Series C, 5.50%, 10/01/54<sup>(k)</sup> | 10407 | &nbsp;&nbsp; 11116997 |
| &nbsp;&nbsp;&nbsp; Series C-1, 5.25%, 02/01/53 | 14173 | &nbsp;&nbsp; 14798356 |
| &nbsp;&nbsp;&nbsp; Energy Southeast A Cooperative District, RB, <br> Series B-1, 5.75%, 04/01/54<br>| 12450 | &nbsp;&nbsp; 13578934 |
|  |  | &nbsp;&nbsp; 39494287 |
| **Arizona — 1.8%** | **Arizona — 1.8%** |  |
| &nbsp;&nbsp;&nbsp; Salt River Project Agricultural Improvement & Power <br> District, RB, Series B, 5.00%, 01/01/48<br>| 11390 | &nbsp;&nbsp; 11859963 |
| **Colorado — 1.6%** | **Colorado — 1.6%** |  |
| &nbsp;&nbsp;&nbsp; City & County of Denver Colorado Airport System <br> Revenue, Refunding ARB, Series A, AMT, 5.50%, <br> 11/15/53<br>| 10098 | &nbsp;&nbsp; 10526802 |
| **District of Columbia — 3.3%** | **District of Columbia — 3.3%** |  |
| &nbsp;&nbsp;&nbsp; District of Columbia Housing Finance Agency, RB, M/F <br> Housing, Series B-2, 4.10%, 09/01/39<br>| 1300 | &nbsp;&nbsp; 1254223 |
| &nbsp;&nbsp;&nbsp; Metropolitan Washington Airports Authority Aviation <br> Revenue, Refunding ARB, Series A, AMT, 5.25%, <br> 10/01/49<br>| 8958 | &nbsp;&nbsp; 9105621 |
| &nbsp;&nbsp;&nbsp; Metropolitan Washington Airports Authority Aviation <br> Revenue, Refunding RB, Series A, 5.00%, 10/01/49<br>| 11194 | &nbsp;&nbsp; 10971501 |
|  |  | &nbsp;&nbsp; 21331345 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2025

**BlackRock MuniHoldings Fund, Inc. (MHD)** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Florida — 3.3%** | **Florida — 3.3%** |  |
| &nbsp;&nbsp;&nbsp; City of Fort Lauderdale Florida Water & Sewer Revenue, <br> RB, Series B, 5.50%, 09/01/53<br>| $9060 | &nbsp;&nbsp; $9697554 |
| &nbsp;&nbsp;&nbsp; Greater Orlando Aviation Authority, ARB, AMT, 5.25%, <br> 10/01/51<br>| 11945 | &nbsp;&nbsp; 12111828 |
|  |  | &nbsp;&nbsp; 21809382 |
| **Georgia — 3.3%** | **Georgia — 3.3%** |  |
| &nbsp;&nbsp;&nbsp; Georgia Housing & Finance Authority, RB, S/F Housing, <br> Series A, 4.65%, 12/01/50<br>| 11883 | &nbsp;&nbsp; 11720392 |
| &nbsp;&nbsp;&nbsp; Main Street Natural Gas, Inc., RB, Series C, 5.00%, <br> 09/01/53<sup>(a)(k)</sup><br>| 9240 | &nbsp;&nbsp; 9639356 |
|  |  | &nbsp;&nbsp; 21359748 |
| **Illinois — 1.6%** | **Illinois — 1.6%** |  |
| &nbsp;&nbsp;&nbsp; Chicago Transit Authority Sales Tax Receipts Fund, <br> Refunding RB, Series A, 5.00%, 12/01/49<sup>(k)</sup><br>| 10158 | &nbsp;&nbsp; 10306230 |
| **Massachusetts — 1.2%** | **Massachusetts — 1.2%** |  |
| &nbsp;&nbsp;&nbsp; Commonwealth of Massachusetts, GOL, Series D, <br> 5.00%, 10/01/52<br>| 7706 | &nbsp;&nbsp; 7936332 |
| **Michigan — 0.3%** | **Michigan — 0.3%** |  |
| &nbsp;&nbsp;&nbsp; Michigan State Housing Development Authority, RB, <br> Series A, 4.05%, 10/01/48<br>| 2338 | &nbsp;&nbsp; 2132106 |
| **Missouri — 0.9%** | **Missouri — 0.9%** |  |
| &nbsp;&nbsp;&nbsp; Missouri Housing Development Commission, RB, <br> Series E, (FHLMC, FNMA, GNMA), 4.60%, 11/01/49<br>| 6360 | &nbsp;&nbsp; 6118736 |
| **Nebraska — 2.4%** | **Nebraska — 2.4%** |  |
| &nbsp;&nbsp;&nbsp; Nebraska Investment Finance Authority, RB, S/F <br> Housing, Series E, Sustainability Bonds, (FHLMC, <br> FNMA, GNMA), 4.80%, 09/01/54<br>| 5922 | &nbsp;&nbsp; 5904038 |
| &nbsp;&nbsp;&nbsp; Omaha Public Power District, Refunding RB, Series B, <br> 5.25%, 02/01/48<br>| 8980 | &nbsp;&nbsp; 9457619 |
|  |  | &nbsp;&nbsp; 15361657 |
| **New York — 6.3%** | **New York — 6.3%** |  |
| &nbsp;&nbsp;&nbsp; Metropolitan Transportation Authority Dedicated Tax <br> Fund, Refunding RB, Series B-1, Sustainability <br> Bonds, 5.00%, 11/15/49<br>| 10344 | &nbsp;&nbsp; 10699984 |
| New York City Municipal Water Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; Series AA, Class 1, Subordinate, 5.25%, 06/15/53 | 7720 | &nbsp;&nbsp; 8174411 |
| &nbsp;&nbsp;&nbsp; Series AA-1, 5.25%, 06/15/52 | 10980 | &nbsp;&nbsp; 11496777 |
| &nbsp;&nbsp;&nbsp; New York City Transitional Finance Authority, RB, <br> Series C, 5.25%, 05/01/48<br>| 10077 | &nbsp;&nbsp; 10651680 |
|  |  | &nbsp;&nbsp; 41022852 |
| **Oklahoma — 1.3%** | **Oklahoma — 1.3%** |  |
| Oklahoma Turnpike Authority, RB, 5.50%, 01/01/53 | 8126 | &nbsp;&nbsp; 8617420 |
| **Oregon — 0.9%** | **Oregon — 0.9%** |  |
| &nbsp;&nbsp;&nbsp; Port of Portland Oregon Airport Revenue, Refunding <br> ARB, Series 29, AMT, Sustainability Bonds, 5.50%, <br> 07/01/48<br>| 5620 | &nbsp;&nbsp; 5869773 |
| **Pennsylvania — 1.3%** | **Pennsylvania — 1.3%** |  |
| &nbsp;&nbsp;&nbsp; Pennsylvania Turnpike Commission, Refunding RB, <br> Series B, 5.25%, 12/01/52<br>| 8295 | &nbsp;&nbsp; 8666786 |
| **Rhode Island — 1.5%** | **Rhode Island — 1.5%** |  |
| &nbsp;&nbsp;&nbsp; Rhode Island Housing & Mortgage Finance Corp., RB, <br> S/F Housing, Series 82-A, Sustainability Bonds, <br> (GNMA), 4.60%, 10/01/49<br>| 10234 | &nbsp;&nbsp; 9863022 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **South Carolina — 2.0%** | **South Carolina — 2.0%** |  |
| &nbsp;&nbsp;&nbsp; Patriots Energy Group Financing Agency, Refunding RB, <br> Series B-1, 5.25%, 02/01/54<sup>(a)(k)</sup><br>| $12597 | &nbsp;&nbsp; $13307018 |
| **Tennessee — 1.9%** | **Tennessee — 1.9%** |  |
| &nbsp;&nbsp;&nbsp; Tennessee Energy Acquisition Corp., RB, Series A, <br> 5.00%, 05/01/52<sup>(a)(k)</sup><br>| 11655 | &nbsp;&nbsp; 12128777 |
| **Texas — 7.3%** | **Texas — 7.3%** |  |
| &nbsp;&nbsp;&nbsp; City of Houston Texas Airport System Revenue, <br> Refunding ARB, Series A, AMT, Subordinate Lien, <br> (AGM), 5.25%, 07/01/48<br>| 6450 | &nbsp;&nbsp; 6616248 |
| &nbsp;&nbsp;&nbsp; City of San Antonio Texas Electric & Gas Systems <br> Revenue, Refunding RB, Series A, 5.50%, 02/01/50<br>| 4400 | &nbsp;&nbsp; 4721594 |
| &nbsp;&nbsp;&nbsp; Crowley Independent School District, GO, 5.25%, <br> 02/01/53<br>| 5967 | &nbsp;&nbsp; 6200628 |
| &nbsp;&nbsp;&nbsp; Denton Independent School District, GO, (PSF-GTD), <br> 5.00%, 08/15/48<br>| 9840 | &nbsp;&nbsp; 10186879 |
| &nbsp;&nbsp;&nbsp; Tarrant County Cultural Education Facilities Finance <br> Corp., RB, 5.00%, 11/15/51<br>| 4041 | &nbsp;&nbsp; 4121207 |
| Texas Water Development Board, RB, 4.80%, 10/15/52 | 7785 | &nbsp;&nbsp; 15629810 |
|  |  | &nbsp;&nbsp; 47476366 |
| **Wisconsin — 0.9%** | **Wisconsin — 0.9%** |  |
| &nbsp;&nbsp;&nbsp; Wisconsin Housing & Economic Development Authority <br> Housing Revenue, RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 4.10%, 11/01/43 | 1342 | &nbsp;&nbsp; 2770982 |
| &nbsp;&nbsp;&nbsp; Series A, 4.45%, 05/01/57 | 1678 | &nbsp;&nbsp; 3138990 |
|  |  | &nbsp;&nbsp; 5909972 |
| **Total Municipal Bonds Transferred to Tender Option Bond** <br>**Trusts — 49.2%** <br>**(Cost: $322,307,670)** | **Total Municipal Bonds Transferred to Tender Option Bond** <br>**Trusts — 49.2%** <br>**(Cost: $322,307,670)** | &nbsp;&nbsp; 321098574 |
| **Total Long-Term Investments — 163.3%** <br>**(Cost: $1,068,321,589)** | **Total Long-Term Investments — 163.3%** <br>**(Cost: $1,068,321,589)** | &nbsp;&nbsp; 1066620475 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | <br>*Shares*<br>|  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.7%** | **Money Market Funds — 0.7%** |  |
| &nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds, MuniCash, Institutional <br> Shares, 3.05%<sup>(l)(m)</sup><br>| 4846810 | &nbsp;&nbsp; 4847295 |
| **Total Short-Term Securities — 0.7%** <br>**(Cost: $4,847,295)** | **Total Short-Term Securities — 0.7%** <br>**(Cost: $4,847,295)** | &nbsp;&nbsp; 4847295 |
| **Total Investments — 164.0%** <br>**(Cost: $1,073,168,884)** | **Total Investments — 164.0%** <br>**(Cost: $1,073,168,884)** | &nbsp;&nbsp; 1071467770 |
| **Liabilities in Excess of Other Assets — (0.5)%** | **Liabilities in Excess of Other Assets — (0.5)%** | &nbsp;&nbsp; (3325838)<br>|
| **Liability for TOB Trust Certificates, Including Interest Expense and** <br> **Fees Payable — (30.7)%** | **Liability for TOB Trust Certificates, Including Interest Expense and** <br> **Fees Payable — (30.7)%** | &nbsp;&nbsp; (200772429)<br>|
| **VMTP Shares at Liquidation Value, Net of Deferred Offering Costs —** <br> **(32.8)%** | **VMTP Shares at Liquidation Value, Net of Deferred Offering Costs —** <br> **(32.8)%** | &nbsp;&nbsp; (214000000)<br>|
| **Net Assets Applicable to Common Shares — 100.0%** | **Net Assets Applicable to Common Shares — 100.0%** | &nbsp;&nbsp; $653369503 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. 

<sup>(b)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(c)</sup> Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step- down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. 

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

April 30, 2025

**BlackRock MuniHoldings Fund, Inc. (MHD)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(d)</sup> Zero-coupon bond.

<sup>(e)</sup> U.S. Government securities held in escrow, are used to pay interest on this security as well as to retire the bond in full at the date indicated, typically at a premium to par. 

<sup>(f)</sup> Security is collateralized by municipal bonds or U.S. Treasury obligations.

<sup>(g)</sup> Issuer filed for bankruptcy and/or is in default.

<sup>(h)</sup> Non-income producing security.

<sup>(i)</sup> When-issued security.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(j)</sup> Represent bonds transferred to a TOB Trust in exchange of cash and residual certificates received by the Fund. These bonds serve as collateral in a secured borrowing. 

<sup>(k)</sup> All or a portion of the security is subject to a recourse agreement. The aggregate maximum potential amount the Fund could ultimately be required to pay under the agreements, which expire between February 1, 2029 to May 1, 2052, is $45,712,472. 

<sup>(l)</sup> Affiliate of the Fund.

<sup>(m)</sup> Annualized 7-day yield as of period end.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended April 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*07/31/24*<br>| *Proceeds* <br>*from Sales*<br>| *Net* <br>*Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*04/30/25*<br>| *Shares* <br>*Held at* <br>*04/30/25*<br>| *Income* | *Capital Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Liquidity Funds, MuniCash, Institutional Shares | $3674238<br> $1173057 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $— | $— | $4847295 | 4846810 | $166069 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – Unadjusted price quotations in active markets/exchanges that the Fund has the ability to access for identical assets or liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds that may not have a secondary market and/or may have a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund's policy regarding valuation of financial instruments, refer to its most recent financial statements.

The following table summarizes the Fund's financial instruments categorized in the fair value hierarchy. The breakdown of the Fund's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-Term Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $745521901 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $745521901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds Transferred to Tender Option Bond Trusts | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 321098574 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 321098574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Securities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp; 4847295 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4847295 |
|  | &nbsp;&nbsp; $4847295 | &nbsp;&nbsp;&nbsp;&nbsp; $1066620475 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $1071467770 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2025

**BlackRock MuniHoldings Fund, Inc. (MHD)** 

The Fund may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of period end, such assets and/or liabilities are categorized within the fair value hierarchy as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp; TOB Trust Certificates | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(199257979)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(199257979)<br>|
| &nbsp;&nbsp;&nbsp; VMTP Shares at Liquidation Value | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (214000000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (214000000)<br>|
|  | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(413257979)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(413257979)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Portfolio Abbreviation**  | **Portfolio Abbreviation**  |
| AGC | Assured Guaranty Corp. |
| AGM | Assured Guaranty Municipal Corp. |
| AGM-CR | AGM Insured Custodial Receipt |
| AMT | Alternative Minimum Tax |
| ARB | Airport Revenue Bonds  |
| BAM | Build America Mutual Assurance Co. |
| BAM-TCRS | &nbsp;&nbsp;&nbsp; Build America Mutual Assurance Co. - Transferable <br> Custodial Receipts<br>|
| CAB | Capital Appreciation Bonds |
| COP | Certificates of Participation |
| CR | Custodian Receipt |
| FHLMC | Federal Home Loan Mortgage Corp. |
| FNMA | Federal National Mortgage Association |
| GNMA | Government National Mortgage Association |
| GO | General Obligation Bonds |
| GOL | General Obligation Ltd. |
| GTD | GTD Guaranteed |
| M/F | Multi-Family |
| NPFGC | National Public Finance Guarantee Corp. |
| PSF | Permanent School Fund |
| PSF-GTD | Permanent School Fund Guaranteed |
| RB | Revenue Bonds |
| S/F | Single-Family |
| SAB | Special Assessment Bonds |
| TA | Tax Allocation |
| UT | Unlimited Tax |

---

Schedule of Investments

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** BlackRock MuniHoldings Fund, Inc.

- **b. Investment Company Act file number:** 811-08081

- **c. CIK number of Registrant:** 0001034665

- **d. LEI of Registrant:** MZBVMGS24JR92TGE6Z32

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

  - **Street Address 1:** 100 Bellevue Parkway

  - **City:** Wilmington

  - **State:** DE

  - **Foreign country:** US

  - **Zip / Postal Code:** 19809

  - **Telephone number:** 800-441-7762

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

- **a. Name of Series:** BlackRock MuniHoldings Fund, Inc.

- **c. LEI of Series:** MZBVMGS24JR92TGE6Z32

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

- **a. Date of fiscal year-end:** 2025-07-31

- **b. Date as of which information is reported:** 2025-04-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1117907117.96

**Total Liabilities:** $464572009.07

**Net Assets:** $653335108.89

**Delayed Delivery Securities:** $47211373.18

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 281485.41000000 | **1-Year:** 9502.66000000 | **5-Year:** 202316.05000000 | **10-Year:** 133037.18000000 | **30-Year:** 314479.93000000

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

- **3-Month:** 539.29000000 | **1-Year:** 67.69000000 | **5-Year:** 25718.38000000 | **10-Year:** 11329.73000000 | **30-Year:** 67223.87000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 1.10%                | -2.97%               | -2.06%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-306674.94              | $5639311.12                                |
| Month 2  | $-833427.31              | $-22488696.70                              |
| Month 3  | $-6872084.35             | $-9003661.42                               |

**Designated Index Information**

- **Index Name:** Fund`s Designated Reference Portfolio is the Fund`s Securities Portfolio

- **Index Identifier:** Fund`s Designated Reference Portfolio is the Fund`s Securities Portfolio

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| New Jersey Economic Development Authority                                        | NEW JERSEY ST ECON DEV AUTH REVENUE                          | CUSIP: 645918Z97<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    790000 | PA      | $793564.86    | 0.12%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ballston Quarter Community Development Authority                                 | BALLSTON QUARTER CMNTY DEV AUTH VA REVENUE                   | CUSIP: 058696AJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    444000 | PA      | $368976.33    | 0.06%             | 2059-03-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                            | PENNSYLVANIA ST ECON DEV FING AUTH T/E PRIVATE ACTIVITY REV  | CUSIP: 70868YAV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3150000 | PA      | $3239652.62   | 0.50%             | 2048-06-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH MUNI CTFS                               | CUSIP: 63607WBD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1014292 | PA      | $963025.75    | 0.15%             | 2041-01-20      | Fixed         | 4.17%                 | No            |                  2 | On Loan: No      |
| City & County of Denver CO Airport System Revenue                                | DENVER CITY & CNTY CO ARPT REVENUE                           | CUSIP: 249182QX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10097975 | PA      | $10526801.91  | 1.61%             | 2053-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116HQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5070000 | PA      | $5111727.57   | 0.78%             | 2060-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                                 | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709225DZ6<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    610000 | PA      | $534062.42    | 0.08%             | 2051-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                   | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE            | CUSIP: 09182TDB0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |  10407026 | PA      | $11116997.44  | 1.70%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                            | MET TRANSPRTN AUTH NY REVENUE                                | CUSIP: 59261A2H9<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   2770000 | PA      | $2426558.20   | 0.37%             | 2048-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Home Corp                                                            | MISSISSIPPI ST HOME CORP SF MTGE REVENUE                     | CUSIP: 60535QS50<br>LEI: 549300FFY35B829JR607 | Long             | DBT              | MUN               | US        |   2970000 | PA      | $2953189.30   | 0.45%             | 2049-12-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                          | SOUTH CAROLINA ST PUBLIC SVC AUTH REVENUE                    | CUSIP: 8371515T2<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   1015000 | PA      | $1037655.52   | 0.16%             | 2050-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                                 | FLORIDA ST DEV FIN CORP SOL WST DISP REVENUE                 | CUSIP: 34061XAB8<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    270000 | PA      | $272724.29    | 0.04%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Fort Lauderdale FL Water & Sewer Revenue                                 | FORT LAUDERDALE FL WTR & SWR REVENUE                         | CUSIP: 347658ZY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9060000 | PA      | $9697553.80   | 1.48%             | 2053-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| San Diego Unified School District/CA                                             | SAN DIEGO CA UNIF SCH DIST                                   | CUSIP: 797356AF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    685000 | PA      | $589557.92    | 0.09%             | 2029-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| City of Austin TX Airport System Revenue                                         | AUSTIN TX ARPT SYS REVENUE                                   | CUSIP: 052398GY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1290000 | PA      | $1294175.33   | 0.20%             | 2044-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Palomar Community College District                                               | PALOMAR CA CMNTY CLG DIST                                    | CUSIP: 697511BX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2605000 | PA      | $3049023.19   | 0.47%             | 2039-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL Wastewater Transmission Revenue                               | CHICAGO IL WSTWTR TRANSMISSION REVENUE                       | CUSIP: 167727C53<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    885000 | PA      | $917342.02    | 0.14%             | 2058-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                            | PENNSYLVANIA ST ECON DEV FINGAUTH EXEMPT FACS REVENUE        | CUSIP: 708686DZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1905000 | PA      | $1892871.09   | 0.29%             | 2044-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                | SOUTHEAST ENERGY AUTH COOPERATIVE DIST AL ENERGY SUPPLY REVE | CUSIP: 84136HBC6<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   4895000 | PA      | $5014509.08   | 0.77%             | 2056-01-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Missouri Housing Development Commission                                          | MISSOURI ST HSG DEV COMMISSION SF MTGE REVENUE               | CUSIP: 60637GBA6<br>LEI: 5493007FBL7WCV3NKY25 | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1337489.48   | 0.20%             | 2044-11-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| San Diego County Regional Airport Authority                                      | SAN DIEGO CNTY CA REGL ARPT AUTH AIRPORT REVENUE             | CUSIP: 79739GNY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2150000 | PA      | $2112836.26   | 0.32%             | 2056-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Benton AR Sales & Use Tax                                                | BENTON AR SALES & USE TAX                                    | CUSIP: 082756BY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    505000 | PA      | $476844.84    | 0.07%             | 2039-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                     | MASSACHUSETTS ST PORT AUTH                                   | CUSIP: 575896YJ8<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   3100000 | PA      | $3111350.19   | 0.48%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp                                           | NEW YORK CITY NY HSG DEV CORP MF HSG REV                     | CUSIP: 64972KBC8<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   2165000 | PA      | $2146769.14   | 0.33%             | 2053-11-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Omaha Public Power District                                                      | OMAHA NE PUBLIC PWR DIST ELEC REVENUE                        | CUSIP: 682001KR2<br>LEI: 54930000VJEJ9CGIYG32 | Long             | DBT              | MUN               | US        |   8980000 | PA      | $9457618.81   | 1.45%             | 2048-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                             | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FVJ0<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1338275.76   | 0.20%             | 2052-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Midland County Fresh Water Supply District No 1                                  | MIDLAND CNTY TX FRESH WTR SPLY DIST #1 REVENUE               | CUSIP: 597495BB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10760000 | PA      | $5725232.56   | 0.88%             | 2038-09-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State Health & Educational Facilities Authority                      | CONNECTICUT ST HLTH & EDUCTNL FACS AUTH REVENUE              | CUSIP: 20775DVR0<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    525000 | PA      | $468814.96    | 0.07%             | 2053-07-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Tahoe-Douglas Visitors Authority                                                 | TAHOE-DOUGLAS VISITORS AUTH NV STATELINE REVENUE             | CUSIP: 873816AR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    310000 | PA      | $313897.42    | 0.05%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Buckeye Tobacco Settlement Financing Authority                                   | BUCKEYE OH TOBACCO SETTLEMENT FING AUTH                      | CUSIP: 118217CX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    610000 | PA      | $513288.15    | 0.08%             | 2048-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                                     | MISSISSIPPI ST DEV BANK SPL OBLG                             | CUSIP: 60534TQH1<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |   3595000 | PA      | $3649269.76   | 0.56%             | 2040-12-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue          | NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE               | CUSIP: 64971X7H5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5500000 | PA      | $4833008.79   | 0.74%             | 2051-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                         | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57584XCG4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    400000 | PA      | $383729.89    | 0.06%             | 2040-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                       | MICHIGAN ST FIN AUTH ACT 38 FACS SENIOR REVEUE               | CUSIP: 59447NBE5<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    355000 | PA      | $371979.56    | 0.06%             | 2057-02-28      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Galveston TX Wharves & Terminal Revenue                                  | GALVESTON TX WHARVES & TERMINAL REVENUE                      | CUSIP: 364568KE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $105064.38    | 0.02%             | 2043-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Empire State Development Corp                                                    | NEW YORK ST URBAN DEV CORP REVENUE                           | CUSIP: 650036AP1<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1433896.00   | 0.22%             | 2049-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                          | SOUTH CAROLINA ST PUBLIC SVC AUTH REVENUE                    | CUSIP: 8371514F3<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    965000 | PA      | $1011412.57   | 0.15%             | 2054-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                        | NEW JERSEY ST ECON DEV AUTH REVENUE                          | CUSIP: 6459182D4<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3000978.24   | 0.46%             | 2043-01-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                               | SOUTH CAROLINA ST JOBS-ECON DEV AUTH HOSP FACS REVENUE       | CUSIP: 83703EMQ5<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   2015000 | PA      | $1758659.24   | 0.27%             | 2044-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI RETMNT FAC REVENUE                        | CUSIP: 74444VAR1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    305000 | PA      | $278263.98    | 0.04%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Garland TX Electric Utility System Revenue                               | GARLAND TX ELEC UTILITY SYS REVENUE                          | CUSIP: 366133TJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $256957.89    | 0.04%             | 2048-03-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                       | MICHIGAN ST FIN AUTH REVENUE                                 | CUSIP: 59447TVD2<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   4815000 | PA      | $4289921.36   | 0.66%             | 2047-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Texas Transportation Commission State Highway 249 System                         | TEXAS ST TRANSPRTN COMMISSION ST HIGHWAY 249 SYS TOLL REV    | CUSIP: 88283NAH5<br>LEI: 5493006JSGNPGVJS7691 | Long             | DBT              | MUN               | US        |    200000 | PA      | $109007.13    | 0.02%             | 2038-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                    | MASSACHUSETTS ST                                             | CUSIP: 57582RY59<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   1240000 | PA      | $1271211.73   | 0.19%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Spring Branch Independent School District                                        | SPRING BRANCH TX INDEP SCH DIST                              | CUSIP: 849476WT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1275000 | PA      | $1152280.37   | 0.18%             | 2048-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                        | NEW JERSEY ST ECON DEV AUTH ECON DEV REVENUE                 | CUSIP: 64577HMG3<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   2802842 | PA      | $2866707.10   | 0.44%             | 2028-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Buckeye Tobacco Settlement Financing Authority                                   | BUCKEYE OH TOBACCO SETTLEMENT FING AUTH                      | CUSIP: 118217CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3680000 | PA      | $3168194.14   | 0.48%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tennessee Energy Acquisition Corp                                                | TENNESSEE ENERGY ACQUISITION CORP COMMODITY PROJECT REVENUE  | CUSIP: 88044TAL3<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |  11655000 | PA      | $12128776.92  | 1.86%             | 2052-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Black Desert Public Infrastructure District                                      | BLACK DESERT PUB INFRASTRUCTURE DIST UT SPL ASSMNT           | CUSIP: 09204TAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $364956.44    | 0.06%             | 2053-12-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                        | HOUSTON TX ARPT SYS REVENUE                                  | CUSIP: 442349GV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6450000 | PA      | $6616247.72   | 1.01%             | 2048-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| County of Berkeley SC                                                            | BERKELEY CNTY SC ASSMNT REVENUE                              | CUSIP: 084220AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    315000 | PA      | $279347.84    | 0.04%             | 2040-11-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                         | MASSACHUSETTS ST DEV FIN AGY                                 | CUSIP: 57583FFZ9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2010000 | PA      | $2146047.96   | 0.33%             | 2059-05-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                              | NEW YORK NY                                                  | CUSIP: 64966SMF0<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    550000 | PA      | $579917.54    | 0.09%             | 2053-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Gainesville FL Utilities System Revenue                                  | GAINESVILLE FL UTILITIES SYS REVENUE                         | CUSIP: 362848VL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4095000 | PA      | $4128453.41   | 0.63%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                            | PENNSYLVANIA ST ECON DEV FING AUTH REVENUE                   | CUSIP: 70869PHX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    390000 | PA      | $384104.60    | 0.06%             | 2042-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Government Nashville & Davidson County Health & Educational Facs Bd | MET GOVT NASHVILLE & DAVIDSONCNTY TN HLTH & EDUCTNL FAC BRD  | CUSIP: 592041YQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2930000 | PA      | $2906638.38   | 0.44%             | 2058-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                                 | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709225GL4<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   8295000 | PA      | $8666785.88   | 1.33%             | 2052-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Village Community Development District No 15                                     | VILLAGE CDD NO 15 SPL ASSMNT REVENUE                         | CUSIP: 92708KAE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    590000 | PA      | $590701.76    | 0.09%             | 2054-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority Dulles Toll Road Revenue              | MET WASHINGTON DC ARPTS AUTH DULLES TOLL ROAD REVENUE        | CUSIP: 592643BD1<br>LEI: 7HERAVJJLN8J1DZ6AZ19 | Long             | DBT              | MUN               | US        |  13485000 | PA      | $8711120.54   | 1.33%             | 2035-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Chicago Transit Authority Sales Tax Receipts Fund                                | CHICAGO IL TRANSIT AUTH SALES TAX RECPTS REVENUE             | CUSIP: 16772PEP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10157972 | PA      | $10306229.51  | 1.58%             | 2049-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Counties Tobacco Trust VI                                               | NEW YORK CNTYS NY TOBACCO TRUST VI                           | CUSIP: 64945JAE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    255000 | PA      | $227705.94    | 0.03%             | 2045-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Duluth Economic Development Authority                                            | DULUTH MN ECON DEV AUTH HLTH CARE FACS REVENUE               | CUSIP: 26444CHB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3800000 | PA      | $3376964.43   | 0.52%             | 2048-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Salt River Project Agricultural Improvement & Power District                     | SALT RIVER AZ PROJ AGRIC IMPT& PWR DIST ELEC SYS REVENUE     | CUSIP: 79574CFQ1<br>LEI: SHB8HO6GKXJ83RX5OV39 | Long             | DBT              | MUN               | US        |  11390000 | PA      | $11859962.62  | 1.82%             | 2048-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| East Point Business & Industrial Development Authority                           | EAST PT GA BUSINESS & INDL DEV AUTHORITY REVENUE             | CUSIP: 274502AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    535000 | PA      | $361125.00    | 0.06%             | 2062-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                   | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE            | CUSIP: 09182TDL8<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1275000 | PA      | $1352449.59   | 0.21%             | 2055-05-01      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Delaware State Health Facilities Authority                                       | DELAWARE ST HLTH FACS AUTH REVENUE                           | CUSIP: 246388TM4<br>LEI: 549300RXU7M05ZYSJG42 | Long             | DBT              | MUN               | US        |   2180000 | PA      | $2095139.47   | 0.32%             | 2048-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116HM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1985000 | PA      | $2014564.95   | 0.31%             | 2054-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Illinois State Toll Highway Authority                                            | ILLINOIS ST TOLL HIGHWAY AUTH                                | CUSIP: 452252LE7<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2253714.08   | 0.34%             | 2040-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Agricultural & Economic Development Board                              | MINNESOTA ST AGRIC & ECON DEVBRD                             | CUSIP: 6049203E6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1660000 | PA      | $1704642.76   | 0.26%             | 2054-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Westchester Tobacco Asset Securitization Corp                                    | WESTCHESTER NY TOBACCO ASSET SECURITIZATION                  | CUSIP: 957480BS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $253368.54    | 0.04%             | 2042-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Texas Transportation Commission State Highway 249 System                         | TEXAS ST TRANSPRTN COMMISSION ST HIGHWAY 249 SYS TOLL REV    | CUSIP: 88283NAG7<br>LEI: 5493006JSGNPGVJS7691 | Long             | DBT              | MUN               | US        |    195000 | PA      | $112365.32    | 0.02%             | 2037-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Utah Charter School Finance Authority                                            | UTAH ST CHRT SCH FIN AUTH CHRT SCH REVENUE                   | CUSIP: 91754TYL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $188767.26    | 0.03%             | 2039-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505TG1<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    315000 | PA      | $314963.76    | 0.05%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                          | SOUTH CAROLINA ST PUBLIC SVC AUTH REVENUE                    | CUSIP: 8371515V7<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    990000 | PA      | $995571.62    | 0.15%             | 2055-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington Metropolitan Area Transit Authority Dedicated Revenue                 | WASHINGTON DC MET AREA TRANSIT AUTH DEDICATED REVENUE        | CUSIP: 93878YDY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2690000 | PA      | $2504967.06   | 0.38%             | 2059-07-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH MUNI CTFS                               | CUSIP: 63607WAQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    963172 | PA      | $917231.51    | 0.14%             | 2041-07-20      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finance Corp                        | TARRANT CNTY TX CULTURAL EDU FACS FIN CORP REVENUE           | CUSIP: 87638TGQ0<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2004095.92   | 0.31%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116HL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3880000 | PA      | $3847715.99   | 0.59%             | 2049-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Power Authority                                                         | NEW YORK ST PWR AUTH GREEN TRANSMISSION PROJ REVENUE         | CUSIP: 65000XBV1<br>LEI: I5P1GEYFGGMMDOFX2L30 | Long             | DBT              | MUN               | US        |   1305000 | PA      | $1334969.34   | 0.20%             | 2058-11-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| North Dakota Housing Finance Agency                                              | NORTH DAKOTA ST HSG FIN AGY                                  | CUSIP: 6589098A7<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |   2585000 | PA      | $2543894.65   | 0.39%             | 2049-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                             | CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE                 | CUSIP: 1675934R0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1660000 | PA      | $1703397.18   | 0.26%             | 2048-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Industrial Development Authority of the City of Phoenix Arizona/The              | PHOENIX AZ INDL DEV AUTH EDU REVENUE                         | CUSIP: 71885FFG7<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |   2120000 | PA      | $1979260.32   | 0.30%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dalton Whitfield County Joint Development Authority                              | DALTON WHITFIELD CNTY JT DEV AUTH                            | CUSIP: 235641AM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2615000 | PA      | $2320719.93   | 0.36%             | 2048-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Midland County Fresh Water Supply District No 1                                  | MIDLAND CNTY TX FRESH WTR SPLY DIST #1 REVENUE               | CUSIP: 597495BG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1395000 | PA      | $637055.65    | 0.10%             | 2041-09-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| City of Springdale AR Sales & Use Tax Revenue                                    | SPRINGDALE AR SALES & USE REVENUE                            | CUSIP: 850269GA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3085000 | PA      | $2882347.28   | 0.44%             | 2047-08-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                                 | FLORIDA ST DEV FIN CORP                                      | CUSIP: 340618DR5<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   6495000 | PA      | $6406236.34   | 0.98%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                            | PENNSYLVANIA ST ECON DEV FING AUTH T/E PRIVATE ACTIVITY REV  | CUSIP: 70868YAR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2076196.44   | 0.32%             | 2040-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority Dedicated Tax Fund                         | MET TRANSPRTN AUTH NY DEDICATED TAX FUND                     | CUSIP: 59260XCT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |         0 | PA      | $0.00         | 0.00%             | 2050-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                           | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9216000 | PA      | $8493230.41   | 1.30%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority Aviation Revenue                      | MET WASHINGTON DC ARPTS AUTH ARPT SYS REVENUE                | CUSIP: 592647GP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11193793 | PA      | $10971500.81  | 1.68%             | 2049-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                                  | NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE     | CUSIP: 64972GB60<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |  10980000 | PA      | $11496776.74  | 1.76%             | 2052-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116HW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3275000 | PA      | $3306859.72   | 0.51%             | 2060-12-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp                                                | NEW YORK ST LIBERTY DEV CORP LIBERTY REVENUE                 | CUSIP: 649519DC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1449944.58   | 0.22%             | 2040-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade FL Aviation Revenue                                         | MIAMI-DADE CNTY FL AVIATION REVENUE                          | CUSIP: 593340AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1490000 | PA      | $1542717.93   | 0.24%             | 2055-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                           | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11123000 | PA      | $10570148.53  | 1.62%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                              | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                  | CUSIP: 70879QWL3<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   5595000 | PA      | $5590662.20   | 0.86%             | 2049-10-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp                              | NEW HOPE CULTURAL EDU FACS FINCORP TX EDU REVENUE            | CUSIP: 64542QBP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $353157.51    | 0.05%             | 2050-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                        | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE             | CUSIP: 5742187N7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1645000 | PA      | $1424373.31   | 0.22%             | 2050-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Caney Independent School District                                            | NEW CANEY TX INDEP SCH DIST                                  | CUSIP: 643154KZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2470000 | PA      | $2201065.83   | 0.34%             | 2049-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Palomar Community College District                                               | PALOMAR CA CMNTY CLG DIST                                    | CUSIP: 697511BQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1248484.85   | 0.19%             | 2030-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finance Corp                        | TARRANT CNTY TX CULTURAL EDU FACS FIN CORP REVENUE           | CUSIP: 87638TGV9<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   6695000 | PA      | $5913094.50   | 0.91%             | 2053-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| South Carolina State Housing Finance & Development Authority                     | SOUTH CAROLINA ST HSG FIN & DEV AUTH MTGE REVENUE            | CUSIP: 83712D2W5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    205000 | PA      | $211929.01    | 0.03%             | 2053-07-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Industrial Development Authority of the County of Pima/The                       | PIMA CNTY AZ INDL DEV AUTH EDU REVENUE                       | CUSIP: 72177PCD0<br>LEI: 549300QDTQ25545R4K19 | Long             | DBT              | MUN               | US        |    400000 | PA      | $398443.39    | 0.06%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                      | PUERTO RICO CMWLTH                                           | CUSIP: 74514L3J4<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   3523477 | PA      | $3709228.65   | 0.57%             | 2031-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| County of Kent DE                                                                | KENT CNTY DE STUDENT HSG & DINING FAC REVENUE                | CUSIP: 490237AN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | PA      | $325171.30    | 0.05%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Energy Southeast A Cooperative District                                          | ENERGY S E AL A COOPERATIVE DIST ENERGY SPLY REVENUE         | CUSIP: 292723AY9<br>LEI: 2549001SMMZ81MXBXZ89 | Long             | DBT              | MUN               | US        |  12450000 | PA      | $13578933.80  | 2.08%             | 2054-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Allegheny County Hospital Development Authority                                  | ALLEGHENY CNTY PA HOSP DEV AUTH                              | CUSIP: 01728A4A1<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |   2130000 | PA      | $2095044.61   | 0.32%             | 2047-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hutto Independent School District                                                | HUTTO TX INDEP SCH DIST                                      | CUSIP: 4484924U9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $160450.59    | 0.02%             | 2048-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Osceola FL Transportation Revenue                                      | OSCEOLA CNTY FL TRANSPRTN REVENUE                            | CUSIP: 688031FC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    435000 | PA      | $128940.35    | 0.02%             | 2047-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Transportation Infrastructure Authority                          | KENTUCKY PUB TRANSPRTN INFRASTRUCTURE AUTH TOLL REVENUE      | CUSIP: 491397AT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    830000 | PA      | $947717.37    | 0.15%             | 2039-07-01      | Floating      | 6.60%                 | No            |                  2 | On Loan: No      |
| Trout Creek Community Development District                                       | TROUT CREEK CDD FL CAPITAL IMPT REVENUE                      | CUSIP: 897188AK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    630000 | PA      | $552473.64    | 0.08%             | 2040-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                                          | PORT AUTH OF NEW YORK & NEW JERSEY NY                        | CUSIP: 73358XHE5<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   4860000 | PA      | $4889331.61   | 0.75%             | 2047-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Creek County Educational Facilities Authority                                    | CREEK CNTY OK EDUCTNL FACS AUTH EDUCTNL FACS LEASE REVENUE   | CUSIP: 225472BV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    890000 | PA      | $806926.93    | 0.12%             | 2048-09-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Empire State Development Corp                                                    | NEW YORK ST URBAN DEV CORP REVENUE                           | CUSIP: 650036CK0<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |   1850000 | PA      | $1651946.31   | 0.25%             | 2049-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| San Diego Community College District                                             | SAN DIEGO CA CMNTY CLG DIST                                  | CUSIP: 797272GR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2800000 | PA      | $2981129.48   | 0.46%             | 2033-08-01      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State Health & Educational Facilities Authority                      | CONNECTICUT ST HLTH & EDUCTNL FACS AUTH REVENUE              | CUSIP: 20775DVQ2<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    390000 | PA      | $403943.92    | 0.06%             | 2048-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                        | NEW JERSEY ST ECON DEV AUTH REVENUE                          | CUSIP: 6459182F9<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    200000 | PA      | $200011.86    | 0.03%             | 2042-07-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Transportation Infrastructure Authority                          | KENTUCKY PUB TRANSPRTN INFRASTRUCTURE AUTH TOLL REVENUE      | CUSIP: 491397AU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1770000 | PA      | $2005697.96   | 0.31%             | 2043-07-01      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                             | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FKT0<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1950000 | PA      | $1675304.88   | 0.26%             | 2049-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency Inc                                                         | CAPITAL TRUST AGY FL EDUCTNL FACS REVENUE                    | CUSIP: 14054CCZ0<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    480000 | PA      | $397363.11    | 0.06%             | 2045-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Higher Education Student Assistance Authority                         | NEW JERSEY ST HGR EDU ASSISTANCE AUTH STUDENT LOAN REVENUE   | CUSIP: 646080WP2<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |   2650000 | PA      | $2562618.05   | 0.39%             | 2041-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                        | NEW JERSEY ST ECON DEV AUTH REV                              | CUSIP: 64577XEH5<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    100000 | PA      | $101335.18    | 0.02%             | 2043-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PPT6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    205000 | PA      | $198361.66    | 0.03%             | 2035-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Kentucky Economic Development Finance Authority                                  | KENTUCKY ST ECON DEV FIN AUTH                                | CUSIP: 49126PGE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    735000 | PA      | $721241.85    | 0.11%             | 2044-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                                      | VIRGINIA SMALL BUSINESS FING AUTH PRIV ACTIVITY REVENUE SR   | CUSIP: 928097AC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2330000 | PA      | $2226582.79   | 0.34%             | 2052-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Collier County Industrial Development Authority                                  | COLLIER CNTY FL INDL DEV AUTH                                | CUSIP: 194641BC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3522015.98   | 0.54%             | 2054-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                        | HOUSTON TX ARPT SYS REVENUE                                  | CUSIP: 442349FV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1525000 | PA      | $1397753.39   | 0.21%             | 2040-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Vermont Student Assistance Corp                                                  | VERMONT ST STUDENT ASSISTANCECORP EDU LOAN REVENUE           | CUSIP: 92428CJJ4<br>LEI: 549300VHYVRSKNFRSZ91 | Long             | DBT              | MUN               | US        |    275000 | PA      | $275024.71    | 0.04%             | 2030-06-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Great Lakes Water Authority Water Supply System Revenue                          | GREAT LAKES MI WTR AUTH WTR SPLY SYS REVENUE                 | CUSIP: 39081JEV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3525000 | PA      | $3663506.42   | 0.56%             | 2052-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                        | HOUSTON TX ARPT SYS REVENUE                                  | CUSIP: 442349FY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3420000 | PA      | $2823595.23   | 0.43%             | 2048-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Indiana Housing & Community Development Authority                                | INDIANA ST HSG & CMNTY DEV AUTH SF MTGE REVENUE              | CUSIP: 45505TT50<br>LEI: 549300QRKDYVNHT1OE86 | Long             | DBT              | MUN               | US        |   2475000 | PA      | $2409492.71   | 0.37%             | 2049-07-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Utah Charter School Finance Authority                                            | UTAH ST CHRT SCH FIN AUTH CHRT SCH REVENUE                   | CUSIP: 91754TC68<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $143346.61    | 0.02%             | 2040-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finance Corp                        | TARRANT CNTY TX CULTURAL EDU FACS FIN CORP HOSP REVENUE      | CUSIP: 87638QSE0<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   4041117 | PA      | $4121206.91   | 0.63%             | 2051-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp                                                | NEW YORK ST LIBERTY DEV CORP LIBERTY REVENUE                 | CUSIP: 649519EH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4565000 | PA      | $3030745.63   | 0.46%             | 2051-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Stadium & Exposition District                                          | LOUISIANA STADIUM & EXPOSITION DIST LA                       | CUSIP: 546410CY5<br>LEI: 5493000QEHWDGVGH7J62 | Long             | DBT              | MUN               | US        |   3520000 | PA      | $3608046.99   | 0.55%             | 2053-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Metropolitan Government Nashville & Davidson County Health & Educational Facs Bd | MET GOVT NASHVILLE & DAVIDSON CNTY TN HLTH & EDUCTNL FAC BRD | CUSIP: 592029CL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    555000 | PA      | $556380.90    | 0.09%             | 2048-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                   | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE            | CUSIP: 09182TCG0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |  14172969 | PA      | $14798355.89  | 2.27%             | 2053-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Indianapolis Local Public Improvement Bond Bank                                  | INDIANAPOLIS IN LOCAL PUBLIC IMPT BOND BANK                  | CUSIP: 45528U7H8<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   3950000 | PA      | $4019655.68   | 0.62%             | 2053-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                                  | NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE     | CUSIP: 64972GK37<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   7720000 | PA      | $8174411.11   | 1.25%             | 2053-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Permanent University Fund - Texas A&M University System                          | TEXAS ST A & M UNIV PERM UNIV FUND                           | CUSIP: 8821178Q0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1770000 | PA      | $1837294.09   | 0.28%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Diego County Regional Airport Authority                                      | SAN DIEGO CNTY CA REGL ARPT AUTH AIRPORT REVENUE             | CUSIP: 79739GGP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1515000 | PA      | $1494585.09   | 0.23%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois State Toll Highway Authority                                            | ILLINOIS ST TOLL HIGHWAY AUTH                                | CUSIP: 452252KS7<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |   5625000 | PA      | $5626693.01   | 0.86%             | 2040-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Austin TX Airport System Revenue                                         | AUSTIN TX ARPT SYS REVENUE                                   | CUSIP: 052398HV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2536448.48   | 0.39%             | 2047-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| County of Broward FL Water & Sewer Utility Revenue                               | BROWARD CNTY FL WTR & SWR UTILITY REVENUE                    | CUSIP: 115117NH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $540308.15    | 0.08%             | 2045-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                   | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE            | CUSIP: 09182TCQ8<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   2450000 | PA      | $2576300.27   | 0.39%             | 2054-01-01      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Allegheny County Airport Authority                                               | ALLEGHENY CNTY PA ARPT AUTH ARPT REVENUE                     | CUSIP: 01728LGH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1670000 | PA      | $1374821.07   | 0.21%             | 2056-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Duluth Economic Development Authority                                            | DULUTH MN ECON DEV AUTH HLTH CARE FACS REVENUE               | CUSIP: 26444CHD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $416110.89    | 0.06%             | 2053-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Transportation Infrastructure Authority                          | KENTUCKY PUB TRANSPRTN INFRASTRUCTURE AUTH TOLL REVENUE      | CUSIP: 491397AW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $571510.28    | 0.09%             | 2034-07-01      | Floating      | 6.45%                 | No            |                  2 | On Loan: No      |
| Rhode Island Housing & Mortgage Finance Corp                                     | RHODE ISLAND ST HSG & MTGE FIN CORP                          | CUSIP: 76221SDK4<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |   2970000 | PA      | $2922855.97   | 0.45%             | 2044-10-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                | SOUTHEAST ENERGY AUTH AL COMMODITY SPLY REVENUE              | CUSIP: 84136FBL0<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1890000 | PA      | $2002810.24   | 0.31%             | 2053-01-01      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                             | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FSG0<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1610000 | PA      | $1406739.59   | 0.22%             | 2046-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Hamilton OH                                                            | HAMILTON CNTY OH HOSP FACS REVENUE                           | CUSIP: 407272W25<br>LEI: 549300TO1E3N4E4YIO28 | Long             | DBT              | MUN               | US        |    550000 | PA      | $567760.07    | 0.09%             | 2049-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Hawaii Airports System Revenue                                          | HAWAII ST ARPTS SYS REVENUE                                  | CUSIP: 419794J45<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1745000 | PA      | $1810657.04   | 0.28%             | 2054-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Wisconsin Housing & Economic Development Authority                               | Wisconsin Housing & Economic Development Authority           | CUSIP: 976904Q54<br>LEI: 549300AT0SEG8YQT2K79 | Long             | DBT              | MUN               | US        |   1342222 | PA      | $1231547.70   | 0.19%             | 2057-05-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Midland County Fresh Water Supply District No 1                                  | MIDLAND CNTY TX FRESH WTR SPLY DIST #1 REVENUE               | CUSIP: 597495BD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2525000 | PA      | $1213615.50   | 0.19%             | 2040-09-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Arlington Higher Education Finance Corp                                          | ARLINGTON TX HGR EDU FIN CORP EDU REVENUE                    | CUSIP: 041807BH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1005000 | PA      | $1018423.41   | 0.16%             | 2062-11-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Oklahoma Development Finance Authority                                           | OKLAHOMA ST DEV FIN AUTH HLTHSYS REVENUE                     | CUSIP: 67884XCK1<br>LEI: 549300PXGPHUWC32DJ91 | Long             | DBT              | MUN               | US        |   1080000 | PA      | $1081323.80   | 0.17%             | 2052-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Charleston County Airport District                                               | CHARLESTON CNTY SC ARPT DIST ARPT SYS REVENUE                | CUSIP: 160070EK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1176028.99   | 0.18%             | 2054-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                        | NEW JERSEY ST ECON DEV AUTH ECON DEV REVENUE                 | CUSIP: 64577HMH1<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   2675000 | PA      | $2736335.90   | 0.42%             | 2031-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                           | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JRL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2097000 | PA      | $1916139.18   | 0.29%             | 2058-07-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| TSASC Inc/NY                                                                     | TSASC INC NY                                                 | CUSIP: 898526FF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    535000 | PA      | $537971.82    | 0.08%             | 2041-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hillsborough County Aviation Authority                                           | HILLSBOROUGH CNTY FL AVIATION AUTH                           | CUSIP: 432308P73<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7785000 | PA      | $7746284.68   | 1.19%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                            | LOUISIANA PUB FACS AUTH REVENUE                              | CUSIP: 546399RQ1<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   4140000 | PA      | $4117021.43   | 0.63%             | 2053-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI CHRT SCH REVENUE                          | CUSIP: 744396FT4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    300000 | PA      | $252393.54    | 0.04%             | 2055-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                   | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE            | CUSIP: 09182TBT3<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1115000 | PA      | $1166341.37   | 0.18%             | 2053-11-01      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| Southern Groves Community Development District No 5                              | SOUTHERN GROVE CMNTY DEV DIST #5  SPL ASSMNT                 | CUSIP: 843021AD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $184133.50    | 0.03%             | 2043-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York Counties Tobacco Trust IV                                               | NEW YORK CNTYS NY TOBACCO TRUST IV                           | CUSIP: 62947YAC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1360000 | PA      | $1234983.90   | 0.19%             | 2038-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Utah Housing Corp                                                                | UTAH HSG CORP SF MTGE REVENUE                                | CUSIP: 917437JR7<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |   1850000 | PA      | $1818070.87   | 0.28%             | 2050-01-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Cypress Bluff Community Development District                                     | CYPRESS BLUFF CDD FL SPL ASSMNT                              | CUSIP: 232677AM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    430000 | PA      | $329783.31    | 0.05%             | 2050-05-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Memphis-Shelby County Airport Authority                                          | MEMPHIS-SHELBY CNTY TN ARPT AUTH ARPT REVENUE                | CUSIP: 586111PN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11275000 | PA      | $11145213.48  | 1.71%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                      | CUSIP: 6461364X6<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   2810000 | PA      | $2876312.80   | 0.44%             | 2043-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| County of Jefferson AL Sewer Revenue                                             | JEFFERSON CNTY AL SWR REVENUE WARRANTS                       | CUSIP: 472682ZR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4715000 | PA      | $4740464.63   | 0.73%             | 2049-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                                 | FLORIDA ST DEV FIN CORP                                      | CUSIP: 340618DW4<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1606575.31   | 0.25%             | 2047-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                        | NEW JERSEY ST ECON DEV AUTH REVENUE                          | CUSIP: 64577B7L2<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    460000 | PA      | $479435.31    | 0.07%             | 2036-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp                                                | NEW YORK ST LIBERTY DEV CORP LIBERTY REVENUE                 | CUSIP: 649519DW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1685000 | PA      | $1157288.21   | 0.18%             | 2051-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                | ILLINOIS ST                                                  | CUSIP: 452153FH7<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1770000 | PA      | $1841255.23   | 0.28%             | 2041-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Montgomery County Industrial Development Authority/PA                            | MONTGOMERY CNTY PA INDL DEV AUTH                             | CUSIP: 61360PCM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    605000 | PA      | $600615.19    | 0.09%             | 2045-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                            | MET TRANSPRTN AUTH NY REVENUE                                | CUSIP: 59261AG50<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1040000 | PA      | $1057677.98   | 0.16%             | 2055-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | ILLINOIS ST FIN AUTH REVENUE                                 | CUSIP: 45204FYG4<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1885000 | PA      | $1734562.56   | 0.27%             | 2041-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                         | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57584XPW5<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $487520.03    | 0.07%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                         | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57584XD57<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   5005000 | PA      | $4752629.98   | 0.73%             | 2047-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Patriots Energy Group Financing Agency                                           | PATRIOTS ENERGY GROUP FING AGY SC GAS SPLY REVENUE           | CUSIP: 70342PAR5<br>LEI: 5493008X0DFBVFH4HL19 | Long             | DBT              | MUN               | US        |  12597022 | PA      | $13307017.71  | 2.04%             | 2054-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York Counties Tobacco Trust VI                                               | NEW YORK CNTYS NY TOBACCO TRUST VI                           | CUSIP: 64945JAF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    245000 | PA      | $216524.86    | 0.03%             | 2051-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUSTFUND AUTH                       | CUSIP: 64613CFC7<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    725000 | PA      | $772340.22    | 0.12%             | 2046-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minneapolis-St Paul Metropolitan Airports Commission                             | MINNEAPOLIS-SAINT PAUL MN MET ARPTS COMMISSION ARPT REVENUE  | CUSIP: 603827Q82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3305000 | PA      | $3368434.52   | 0.52%             | 2049-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Crowley Independent School District                                              | CROWLEY TX INDEP SCH DIST                                    | CUSIP: 228130KJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5967015 | PA      | $6200628.36   | 0.95%             | 2053-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Trout Creek Community Development District                                       | TROUT CREEK CDD FL CAPITAL IMPT REVENUE                      | CUSIP: 897188AL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $827787.60    | 0.13%             | 2051-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Dallas Fort Worth International Airport                                          | DALLAS-FORT WORTH TX INTERNATIONAL ARPT REVENUE              | CUSIP: 23503CBM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3165000 | PA      | $2842870.35   | 0.44%             | 2045-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                         | ARIZONA ST INDL DEV AUTH EDU REVENUE                         | CUSIP: 04052BJX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $508003.81    | 0.08%             | 2039-07-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505QP4<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   2655000 | PA      | $2655244.68   | 0.41%             | 2035-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                    | MASSACHUSETTS ST                                             | CUSIP: 57582RY26<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   1195000 | PA      | $1234576.26   | 0.19%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Westside Community Development District                                          | WESTSIDE FL CDD SPL ASSMNT REVENUE                           | CUSIP: 96149TAT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    815000 | PA      | $622492.07    | 0.10%             | 2050-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority Aviation Revenue                      | MET WASHINGTON DC ARPTS AUTH ARPT SYS REVENUE                | CUSIP: 592647NF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1190000 | PA      | $1209614.32   | 0.19%             | 2049-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Great Lakes Water Authority Sewage Disposal System Revenue                       | GREAT LAKES MI WTR AUTH SEWAGE DISPOSAL SYS REVENUE          | CUSIP: 39081HEL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1490000 | PA      | $1562744.12   | 0.24%             | 2047-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Montgomery County Higher Education and Health Authority                          | MONTGOMERY CNTY PA HGR EDU & HLTH AUTH                       | CUSIP: 613603B65<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1430000 | PA      | $1173818.55   | 0.18%             | 2051-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                                 | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709225BD7<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1075000 | PA      | $945530.46    | 0.14%             | 2050-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Greater Orlando Aviation Authority                                               | GTR ORLANDO FL AVIATION AUTH ARPT FACS REVENUE               | CUSIP: 392275FK4<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |  11944999 | PA      | $12111828.46  | 1.85%             | 2051-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Nebraska Investment Finance Authority                                            | NEBRASKA ST INVESTMENT FIN AUTH SF HSG REVENUE               | CUSIP: 63968M7H6<br>LEI: 549300OIIXIM3SRZWK33 | Long             | DBT              | MUN               | US        |   5922038 | PA      | $5904038.55   | 0.90%             | 2054-09-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finance Corp                        | TARRANT CNTY TX CULTURAL EDU FACS FIN CORP REVENUE           | CUSIP: 87638TJK0<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |    285000 | PA      | $279860.34    | 0.04%             | 2049-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505SM9<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    475000 | PA      | $475120.24    | 0.07%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                        | NEW JERSEY ST ECON DEV AUTH REV                              | CUSIP: 64577XED4<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   4795000 | PA      | $4948580.35   | 0.76%             | 2047-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Stevens Plantation Community Development District                                | STEVENS PLANTATION FL CDD SPL ASSMNT REVENUE                 | CUSIP: 860242AA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800136 | PA      | $458157.94    | 0.07%             | 2035-05-01      | Fixed         | 7.10%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                               | SOUTH CAROLINA ST JOBS-ECON DEV AUTH HOSP REVENUE            | CUSIP: 83703FLQ3<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1385000 | PA      | $1254171.43   | 0.19%             | 2048-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Hartnell Community College District/CA                                           | HARTNELL CA CMNTY CLG DIST                                   | CUSIP: 417123DM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1770432.81   | 0.27%             | 2034-08-01      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505PL4<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1480000 | PA      | $1425964.06   | 0.22%             | 2042-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                      | CUSIP: 6461364W8<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1040000 | PA      | $988550.98    | 0.15%             | 2039-06-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Kansas City Industrial Development Authority                                     | KANSAS CITY MO INDL DEV AUTH ARPT SPL OBLIG                  | CUSIP: 48504NBF5<br>LEI: 549300QWDXL46XQC8110 | Long             | DBT              | MUN               | US        |   1775000 | PA      | $1760363.21   | 0.27%             | 2055-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City & County of Denver CO Airport System Revenue                                | DENVER CITY & CNTY CO ARPT REVENUE                           | CUSIP: 249182TM8<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   1160000 | PA      | $1235532.40   | 0.19%             | 2045-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| City of Valparaiso IN                                                            | VALPARAISO IN EXEMPT FACS REVENUE                            | CUSIP: 92028RAD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    405000 | PA      | $414413.43    | 0.06%             | 2034-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                              | NEW YORK NY                                                  | CUSIP: 64966SHK5<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5260569.75   | 0.81%             | 2050-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116CY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1910000 | PA      | $1936684.21   | 0.30%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                             | PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE                | CUSIP: 70917TSA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2280000 | PA      | $2359647.63   | 0.36%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                       | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 544445S67<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    830000 | PA      | $837874.84    | 0.13%             | 2046-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Orange County Health Facilities Authority                                        | ORANGE CNTY FL HLTH FACS AUTH REVENUE                        | CUSIP: 68450LJQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1205000 | PA      | $1232634.41   | 0.19%             | 2056-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Tahoe-Douglas Visitors Authority                                                 | TAHOE-DOUGLAS VISITORS AUTH NV STATELINE REVENUE             | CUSIP: 873816AS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    420000 | PA      | $421422.38    | 0.06%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                        | NEW JERSEY ST ECON DEV AUTH                                  | CUSIP: 64578EMF1<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1270000 | PA      | $1259575.83   | 0.19%             | 2040-06-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority Dedicated Tax Fund                         | MET TRANSPRTN AUTH NY DEDICATED TAX FUND                     | CUSIP: 59260XCS5<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |  10344056 | PA      | $10699984.46  | 1.64%             | 2049-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan Strategic Fund                                                          | MICHIGAN ST STRATEGIC FUND LTD OBLG REVENUE                  | CUSIP: 594698QT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1795000 | PA      | $1794997.40   | 0.27%             | 2043-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Harris County Cultural Education Facilities Finance Corp                         | HARRIS CNTY TX CULTURAL EDU FACS FIN CORP REVENUE            | CUSIP: 414009QX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    655000 | PA      | $582187.52    | 0.09%             | 2047-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Atlanta GA Department of Aviation                                        | ATLANTA GA ARPT REVENUE                                      | CUSIP: 04780MF79<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1520000 | PA      | $1521811.29   | 0.23%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas Transportation Commission State Highway 249 System                         | TEXAS ST TRANSPRTN COMMISSION ST HIGHWAY 249 SYS TOLL REV    | CUSIP: 88283NAN2<br>LEI: 5493006JSGNPGVJS7691 | Long             | DBT              | MUN               | US        |    795000 | PA      | $318019.44    | 0.05%             | 2043-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                             | CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE                 | CUSIP: 167593F72<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2480000 | PA      | $2434012.76   | 0.37%             | 2047-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port of Seattle WA                                                               | PORT OF SEATTLE WA REVENUE                                   | CUSIP: 735389R26<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   5645000 | PA      | $5609980.62   | 0.86%             | 2046-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Orange County Health Facilities Authority                                        | ORANGE CNTY FL HLTH FACS AUTH REVENUE                        | CUSIP: 68450LFR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1498364.76   | 0.23%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Pollution Control Financing Authority                                 | CALIFORNIA ST POLL CONTROL FING AUTH WTR FURNISHING REVENUE  | CUSIP: 13054WAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1755000 | PA      | $1721556.30   | 0.26%             | 2045-11-21      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Counties Tobacco Trust IV                                               | NEW YORK CNTYS NY TOBACCO TRUST IV                           | CUSIP: 62947YAL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2900000 | PA      | $2899944.03   | 0.44%             | 2041-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp                                           | NEW YORK CITY NY HSG DEV CORP REVENUE                        | CUSIP: 64966WJN8<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   2565000 | PA      | $2479052.98   | 0.38%             | 2054-08-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority Dulles Toll Road Revenue              | MET WASHINGTON DC ARPTS AUTH DULLES TOLL ROAD REVENUE        | CUSIP: 592643DF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1722862.40   | 0.26%             | 2049-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| San Diego Unified School District/CA                                             | SAN DIEGO CA UNIF SCH DIST                                   | CUSIP: 797356EY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2930000 | PA      | $2525146.22   | 0.39%             | 2029-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Health & Educational Facilities Authority of the State of Missouri               | MISSOURI ST HLTH & EDUCTNL FACS AUTH HLTH FACS REVENUE       | CUSIP: 60637APW6<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   1910000 | PA      | $1648001.17   | 0.25%             | 2049-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Duluth Economic Development Authority                                            | DULUTH MN ECON DEV AUTH HLTH CARE FACS REVENUE               | CUSIP: 26444CHF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1605000 | PA      | $1605441.81   | 0.25%             | 2058-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency Inc                                                         | CAPITAL TRUST AGY FL REVENUE                                 | CUSIP: 14052WDK0<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    305000 | PA      | $271243.41    | 0.04%             | 2055-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505XR2<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1410000 | PA      | $1373935.02   | 0.21%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505WB8<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    970000 | PA      | $909365.52    | 0.14%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Housing & Mortgage Finance Agency                                     | NEW JERSEY ST HSG & MTGE FIN AGY REVENUE                     | CUSIP: 64613AJM5<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |    810000 | PA      | $786751.80    | 0.12%             | 2044-10-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Arkansas Development Finance Authority                                           | ARKANSAS ST DEV FIN AUTH INDL DEV REVENUE                    | CUSIP: 04108WCD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4235000 | PA      | $3863715.05   | 0.59%             | 2049-09-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| City of Spring Lake Park MN                                                      | SPRING LAKE PARK MN CHRT SCH LEASE REVENUE                   | CUSIP: 849824AB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1080000 | PA      | $1019343.19   | 0.16%             | 2039-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                      | CUSIP: 64613CCW6<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    575000 | PA      | $606096.38    | 0.09%             | 2042-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Gunter Independent School District                                               | GUNTER TX INDEP SCH DIST                                     | CUSIP: 403126QS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    470000 | PA      | $409313.52    | 0.06%             | 2053-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Denton Independent School District                                               | DENTON TX INDEP SCH DIST                                     | CUSIP: 249002MB9<br>LEI: 5493005I9W678SUI0Z07 | Long             | DBT              | MUN               | US        |   9840000 | PA      | $10186878.93  | 1.56%             | 2048-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Tampa FL                                                                 | TAMPA FL HOSP REVENUE                                        | CUSIP: 875161DD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2685000 | PA      | $2691244.42   | 0.41%             | 2050-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia Income Tax Revenue                                          | DIST OF COLUMBIA INCOME TAX SECURED REVENUE                  | CUSIP: 25477GWB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1205000 | PA      | $1269970.82   | 0.19%             | 2048-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                      | CUSIP: 646136WG2<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $646418.53    | 0.10%             | 2035-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                      | CUSIP: 646136Y47<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    400000 | PA      | $393027.25    | 0.06%             | 2046-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas Transportation Commission State Highway 249 System                         | TEXAS ST TRANSPRTN COMMISSION ST HIGHWAY 249 SYS TOLL REV    | CUSIP: 88283NAJ1<br>LEI: 5493006JSGNPGVJS7691 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $515039.14    | 0.08%             | 2039-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                           | CALIFORNIA ST MUNI FIN AUTH REVENUE                          | CUSIP: 13048VBY3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    800000 | PA      | $790425.05    | 0.12%             | 2043-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Gainesville & Hall County Hospital Authority                                     | GAINESVILLE & HALL CNTY GA HOSP AUTH                         | CUSIP: 362762QR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1460000 | PA      | $1236974.17   | 0.19%             | 2051-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Texas Transportation Commission State Highway 249 System                         | TEXAS ST TRANSPRTN COMMISSION ST HIGHWAY 249 SYS TOLL REV    | CUSIP: 88283NAQ5<br>LEI: 5493006JSGNPGVJS7691 | Long             | DBT              | MUN               | US        |   1135000 | PA      | $396572.93    | 0.06%             | 2045-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                                 | KENTUCKY ST PUBLIC ENERGY AUTH GAS SPLY REVENUE              | CUSIP: 74440DFC3<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   4430000 | PA      | $4635090.62   | 0.71%             | 2055-01-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                         | ARIZONA ST INDL DEV AUTH EDU REVENUE                         | CUSIP: 04052BDB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $119691.91    | 0.02%             | 2052-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                             | CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE                 | CUSIP: 167593Y55<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6720000 | PA      | $6338976.60   | 0.97%             | 2056-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Oklahoma Turnpike Authority                                                      | OKLAHOMA ST TURNPIKE AUTH                                    | CUSIP: 679111D27<br>LEI: 549300J83EP2PBDYH615 | Long             | DBT              | MUN               | US        |   8126347 | PA      | $8617419.68   | 1.32%             | 2053-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                         | ARIZONA ST INDL DEV AUTH EDU REVENUE                         | CUSIP: 04052BJP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $359346.33    | 0.06%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oklahoma Water Resources Board                                                   | OKLAHOMA ST WTR RESOURCE BRD REVOLVING FUND REVENUE          | CUSIP: 67919PUG6<br>LEI: 5493007CUNXW5UX11C71 | Long             | DBT              | MUN               | US        |    950000 | PA      | $866538.70    | 0.13%             | 2048-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corp                                                | TOBACCO SETTLEMENT FING CORP NJ                              | CUSIP: 888808HQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2995000 | PA      | $2976195.32   | 0.46%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                                 | FLORIDA ST DEV FIN CORP EDUCTNL FACS REVENUE                 | CUSIP: 34061ULD8<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    525946 | PA      | $139638.71    | 0.02%             | 2057-06-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| City of Salt Lake City UT Airport Revenue                                        | SALT LAKE CITY UT ARPT REVENUE                               | CUSIP: 795576KC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1340000 | PA      | $1331592.59   | 0.20%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                             | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FWU4<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1027089.92   | 0.16%             | 2052-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Palm Beach County Health Facilities Authority                                    | PALM BEACH CNTY FL HLTH FACS AUTH HOSP REVENUE               | CUSIP: 69651ABM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1185000 | PA      | $992732.14    | 0.15%             | 2049-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| University of Houston                                                            | UNIV OF HOUSTON TX UNIV REVENUES                             | CUSIP: 914302KP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1640000 | PA      | $1652853.91   | 0.25%             | 2056-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Glendale Industrial Development Authority                                        | GLENDALE AZ INDL DEV AUTH SENIOR LIVING FACS REVENUE         | CUSIP: 378287BA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     65000 | PA      | $58571.90     | 0.01%             | 2056-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ohio Housing Finance Agency                                                      | OHIO ST HSG FIN AGY RSDL MTGE REVENUE                        | CUSIP: 67756Q7Z4<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |   3175000 | PA      | $3110581.95   | 0.48%             | 2049-09-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Texas Transportation Commission State Highway 249 System                         | TEXAS ST TRANSPRTN COMMISSION ST HIGHWAY 249 SYS TOLL REV    | CUSIP: 88283NAP7<br>LEI: 5493006JSGNPGVJS7691 | Long             | DBT              | MUN               | US        |    605000 | PA      | $226314.02    | 0.03%             | 2044-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Fayette County School District Finance Corp                                      | FAYETTE CNTY KY SCH DIST FIN CORP                            | CUSIP: 312432Y84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1155000 | PA      | $1177661.08   | 0.18%             | 2047-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arkansas Development Finance Authority                                           | ARKANSAS DEV FIN AUTH ENVIRONMENTAL REVENUE                  | CUSIP: 04110FAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1170000 | PA      | $1177230.38   | 0.18%             | 2053-05-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL Waterworks Revenue                                            | CHICAGO IL WTRWKS REVENUE                                    | CUSIP: 167736U96<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1445000 | PA      | $1494032.01   | 0.23%             | 2053-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| County of Franklin OH                                                            | FRANKLIN CNTY OH REVENUE                                     | CUSIP: 353202FP4<br>LEI: 549300VCBUC1RZE7KL42 | Long             | DBT              | MUN               | US        |    290000 | PA      | $290673.87    | 0.04%             | 2047-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan State Housing Development Authority                                     | MICHIGAN ST HSG DEV AUTH SF MTGE REVENUE                     | CUSIP: 594654ZR9<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1012453.12   | 0.15%             | 2049-12-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                | SOUTHEAST ENERGY AUTH AL COOPERATIVE DIST COMMODITY SPLY REV | CUSIP: 84136GAK1<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   4595000 | PA      | $4773431.71   | 0.73%             | 2054-01-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                              | NEW YORK NY                                                  | CUSIP: 64966QG79<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   2175000 | PA      | $1978508.91   | 0.30%             | 2046-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Wyandotte County Unified School District No 500 Kansas City                      | WYANDOTTE CNTY KS UNIF SCH DIST #500                         | CUSIP: 982696SW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2130000 | PA      | $2170675.27   | 0.33%             | 2050-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ballston Quarter Community Development Authority                                 | BALLSTON QUARTER CMNTY DEV AUTH VA REVENUE                   | CUSIP: 058696AH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    185000 | PA      | $191513.69    | 0.03%             | 2046-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Kansas City Industrial Development Authority                                     | KANSAS CITY MO INDL DEV AUTH ARPT SPL OBLIG                  | CUSIP: 48504NBD0<br>LEI: 549300QWDXL46XQC8110 | Long             | DBT              | MUN               | US        |   1755000 | PA      | $1740899.15   | 0.27%             | 2049-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Dakota Health & Educational Facilities Authority                           | SOUTH DAKOTA ST HLTH & EDUCTNL FACS AUTH                     | CUSIP: 83755VG99<br>LEI: 549300ZW6LKR8UI2C378 | Long             | DBT              | MUN               | US        |   5205000 | PA      | $5109242.11   | 0.78%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Norwalk-La Mirada Unified School District                                        | NORWALK-LA MIRADA CA UNIF SCH DIST                           | CUSIP: 669096RW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8000000 | PA      | $4500231.36   | 0.69%             | 2038-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Texas Water Development Board                                                    | TEXAS WTR DEV BRD ST WTR IMPLEMENTATION REVENUE FUND         | CUSIP: 88285ABJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7785000 | PA      | $7883525.35   | 1.21%             | 2052-10-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| County of Kent DE                                                                | KENT CNTY DE STUDENT HSG & DINING FAC REVENUE                | CUSIP: 490237AQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    775000 | PA      | $727386.57    | 0.11%             | 2053-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                            | LOUISIANA PUB FACS AUTH REVENUE                              | CUSIP: 546399SY3<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   3235000 | PA      | $3305770.57   | 0.51%             | 2059-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                      | PUERTO RICO CMWLTH                                           | CUSIP: 74514L3H8<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   3910422 | PA      | $4031574.03   | 0.62%             | 2029-07-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                         | ARIZONA ST INDL DEV AUTH EDU REVENUE                         | CUSIP: 04052BEY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    435000 | PA      | $409911.43    | 0.06%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade FL Aviation Revenue                                         | MIAMI-DADE CNTY FL AVIATION REVENUE                          | CUSIP: 59333PZ92<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   3120000 | PA      | $3121184.48   | 0.48%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                           | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JRP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    412000 | PA      | $377727.86    | 0.06%             | 2058-07-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                         | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57584YNB1<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    830000 | PA      | $721879.44    | 0.11%             | 2048-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Waxahachie Independent School District                                           | WAXAHACHIE TX INDEP SCH DIST                                 | CUSIP: 944097A61<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1003612.79   | 0.15%             | 2049-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Utah Charter School Finance Authority                                            | UTAH ST CHRT SCH FIN AUTH CHRT SCH REVENUE                   | CUSIP: 91754TLB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $361396.00    | 0.06%             | 2042-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Idaho Housing & Finance Association                                              | IDAHO ST HSG & FIN ASSN SF MTGE REVENUE                      | CUSIP: 45129Y5H5<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    820000 | PA      | $793835.66    | 0.12%             | 2049-01-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Colorado Educational & Cultural Facilities Authority                             | COLORADO ST EDUCTNL & CULTURAL FACS AUTH REVENUE             | CUSIP: 19645RKE0<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   2510000 | PA      | $2512474.33   | 0.38%             | 2040-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Clackamas County School District No 12 North Clackamas                           | CLACKAMAS CNTY OR SCH DIST #12 NORTH CLACKAMAS               | CUSIP: 179093HN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    510000 | PA      | $268996.46    | 0.04%             | 2038-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                | ILLINOIS ST                                                  | CUSIP: 452152Q20<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    900000 | PA      | $927303.57    | 0.14%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Eastern Michigan University                                                      | ESTRN MICHIGAN UNIV REVENUES                                 | CUSIP: 276731C61<br>LEI: 549300K3C21R17LKDU63 | Long             | DBT              | MUN               | US        |     45000 | PA      | $46057.10     | 0.01%             | 2047-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Pier & Exposition Authority                                         | MET PIER & EXPOSITION AUTH IL REVENUE                        | CUSIP: 592250CL6<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   2370000 | PA      | $2249325.50   | 0.34%             | 2057-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hillsborough County Industrial Development Authority                             | HILLSBOROUGH CNTY FLA INDL DEVAUTH HEALTH SYS REVENUE        | CUSIP: 43233KAV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1267137.58   | 0.19%             | 2051-11-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                              | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                  | CUSIP: 70879QTZ6<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   1130000 | PA      | $1137418.64   | 0.17%             | 2050-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Pier & Exposition Authority                                         | MET PIER & EXPOSITION AUTH IL DEDICATED ST TAX REVENUE       | CUSIP: 592248BE7<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |  22775000 | PA      | $7373858.11   | 1.13%             | 2047-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| State of Ohio                                                                    | OHIO ST HOSP REVENUE                                         | CUSIP: 67756CEG9<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $1876263.32   | 0.29%             | 2050-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Knox County Health Educational & Housing Facility Board                          | KNOX CNTY TN HLTH EDUCTNL & HSG FAC BRD STUDENT HSG REVENUE  | CUSIP: 499526AT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    430000 | PA      | $456596.87    | 0.07%             | 2059-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                        | HOUSTON TX ARPT SYS REVENUE                                  | CUSIP: 442349HZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $801036.56    | 0.12%             | 2039-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                        | NEW JERSEY ST ECON DEV AUTH SPL FAC REVENUE                  | CUSIP: 64578CBW0<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    660000 | PA      | $660252.07    | 0.10%             | 2030-11-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Texas City Industrial Development Corp                                           | TEXAS CITY TX INDL DEV CORP INDL REVENUE                     | CUSIP: 882275AC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    255000 | PA      | $221054.55    | 0.03%             | 2045-12-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH MF AFFORDABLE HSG                       | CUSIP: 63610CAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1285000 | PA      | $1295037.26   | 0.20%             | 2042-04-28      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Texas Transportation Commission State Highway 249 System                         | TEXAS ST TRANSPRTN COMMISSION ST HIGHWAY 249 SYS TOLL REV    | CUSIP: 88283NAF9<br>LEI: 5493006JSGNPGVJS7691 | Long             | DBT              | MUN               | US        |    145000 | PA      | $88331.44     | 0.01%             | 2036-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                       | MICHIGAN ST FIN AUTH REVENUE                                 | CUSIP: 59447TVE0<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   3140000 | PA      | $2768627.55   | 0.42%             | 2050-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority Dulles Toll Road Revenue              | MET WASHINGTON DC ARPTS AUTH DULLES TOLL ROAD REVENUE        | CUSIP: 592643BC3<br>LEI: 7HERAVJJLN8J1DZ6AZ19 | Long             | DBT              | MUN               | US        |  10170000 | PA      | $6904433.85   | 1.06%             | 2034-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                                      | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE            | CUSIP: 56035DEN8<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   7815000 | PA      | $8070654.60   | 1.24%             | 2053-06-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                             | DIST OF COLUMBIA                                             | CUSIP: 25476FA57<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   2285000 | PA      | $2397186.44   | 0.37%             | 2048-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BlackRock Liquidity Funds                                                        | BlackRock Liquidity Funds: MuniCash, Institutional Shares    | CUSIP: 09248U841<br>LEI: 5493007YVNX55LTRQ706 | Long             | STIV             | RF                | US        |   7225329 | NS      | $7226051.67   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505TJ5<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    585000 | PA      | $552193.77    | 0.08%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan State Building Authority                                                | MICHIGAN ST BLDG AUTH REVENUE                                | CUSIP: 594615KN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    710000 | PA      | $610458.94    | 0.09%             | 2052-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                               | SOUTH CAROLINA ST JOBS-ECON DEV AUTH ECON DEV REVENUE        | CUSIP: 837031ZN6<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    845000 | PA      | $703636.70    | 0.11%             | 2055-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of DeKalb GA Water & Sewerage Revenue                                     | DE KALB CNTY GA WTR & SWR REVENUE                            | CUSIP: 240523A34<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3135000 | PA      | $3244011.04   | 0.50%             | 2048-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Texas Tollway Authority                                                    | N TX TOLLWAY AUTH REVENUE                                    | CUSIP: 66285WHD1<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |   2415000 | PA      | $1207868.22   | 0.18%             | 2037-09-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                | SOUTHEAST ENERGY AUTH AL COMMODITY SPLY REVENUE              | CUSIP: 84136FBB2<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   4510000 | PA      | $4627392.73   | 0.71%             | 2053-05-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                        | INDIANA ST FIN AUTH HLTH SYS REVENUE                         | CUSIP: 45470YFK2<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   2150000 | PA      | $2192059.27   | 0.34%             | 2053-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority                                     | NEW YORK NY CITY TRANSITIONAL FIN AUTH REV                   | CUSIP: 64972JCD8<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |  10076334 | PA      | $10651679.91  | 1.63%             | 2048-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                        | NEW JERSEY ST ECON DEV AUTH REV                              | CUSIP: 64577XEG7<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |     60000 | PA      | $63918.45     | 0.01%             | 2043-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rhode Island Housing & Mortgage Finance Corp                                     | RHODE ISLAND ST HSG & MTGE FIN CORP                          | CUSIP: 76221SBL4<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |  10233792 | PA      | $9863022.31   | 1.51%             | 2049-10-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116GY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1935000 | PA      | $2025731.92   | 0.31%             | 2054-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                               | SOUTH CAROLINA ST JOBS-ECON DEV AUTH HLTH FACS REVENUE       | CUSIP: 837032CD1<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   2755000 | PA      | $2940887.04   | 0.45%             | 2050-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City & County of Denver CO Pledged Excise Tax Revenue                            | DENVER CO CITY & CNTY DEDICATED TAX REVENUE                  | CUSIP: 24917DBU6<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   1490000 | PA      | $819606.34    | 0.13%             | 2037-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | ILLINOIS ST FIN AUTH REVENUE                                 | CUSIP: 45204FYF6<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |     60000 | PA      | $60852.26     | 0.01%             | 2041-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City & County of Denver CO Pledged Excise Tax Revenue                            | DENVER CO CITY & CNTY DEDICATED TAX REVENUE                  | CUSIP: 24917DBV4<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |    915000 | PA      | $476426.78    | 0.07%             | 2038-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Hillsborough County Aviation Authority                                           | HILLSBOROUGH CNTY FL AVIATION AUTH                           | CUSIP: 432308L85<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1730000 | PA      | $1706631.44   | 0.26%             | 2048-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Texas Tollway Authority                                                    | N TX TOLLWAY AUTH REVENUE                                    | CUSIP: 66285WYA8<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |   2235000 | PA      | $2002218.09   | 0.31%             | 2049-01-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Port of Portland OR Airport Revenue                                              | PORT OF PORTLAND OR ARPT REVENUE                             | CUSIP: 7352403J0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5620000 | PA      | $5869773.40   | 0.90%             | 2048-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                           | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  18719000 | PA      | $6000988.87   | 0.92%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                               | SOUTH CAROLINA ST JOBS-ECON DEV AUTH HOSP REVENUE            | CUSIP: 83703FLN0<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1680000 | PA      | $1696477.00   | 0.26%             | 2043-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Braunfels Independent School District                                        | NEW BRAUNFELS TX INDEP SCH DIST                              | CUSIP: 642543K84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    970000 | PA      | $859040.57    | 0.13%             | 2052-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                      | CUSIP: 64613CCK2<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   4075000 | PA      | $4546668.37   | 0.70%             | 2048-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                      | CUSIP: 646136Y54<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    900000 | PA      | $887950.40    | 0.14%             | 2045-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Galveston TX Wharves & Terminal Revenue                                  | GALVESTON TX WHARVES & TERMINAL REVENUE                      | CUSIP: 364568KF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $104564.00    | 0.02%             | 2044-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                             | DIST OF COLUMBIA REVENUE                                     | CUSIP: 25483VUQ5<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1695000 | PA      | $1609284.51   | 0.25%             | 2048-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Georgia Housing & Finance Authority                                              | GEORGIA ST HSG & FIN AUTH REVENUE                            | CUSIP: 37353PPU7<br>LEI: 549300I628IMF9PWV724 | Long             | DBT              | MUN               | US        |  11882970 | PA      | $11720391.33  | 1.79%             | 2050-12-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE         | CUSIP: 64990F6W9<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1895000 | PA      | $1671418.86   | 0.26%             | 2054-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fayette County School District Finance Corp                                      | FAYETTE CNTY KY SCH DIST FIN CORP                            | CUSIP: 312432Y43<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    860000 | PA      | $886293.41    | 0.14%             | 2044-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lakewood Ranch Stewardship District                                              | LAKEWOOD RANCH FL STEWARDSHIP DIST SPL ASSMNT REVENUE        | CUSIP: 51265KFJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    570000 | PA      | $590290.16    | 0.09%             | 2054-05-01      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| City Of South Miami Health Facilities Authority Inc                              | S MIAMI FL HLTH FACS AUTH                                    | CUSIP: 838810ED7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1290000 | PA      | $1297068.76   | 0.20%             | 2042-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Berkeley SC                                                            | BERKELEY CNTY SC ASSMNT REVENUE                              | CUSIP: 084220AC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    470000 | PA      | $393291.70    | 0.06%             | 2049-11-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| State of Hawaii Airports System Revenue                                          | HAWAII ST ARPTS SYS REVENUE                                  | CUSIP: 419794K76<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4090000 | PA      | $4199649.75   | 0.64%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Osceola FL Transportation Revenue                                      | OSCEOLA CNTY FL TRANSPRTN REVENUE                            | CUSIP: 688031FB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $86938.18     | 0.01%             | 2046-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                | ILLINOIS ST                                                  | CUSIP: 452153KF5<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1805000 | PA      | $1832794.67   | 0.28%             | 2048-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission Oil Franchise Tax Revenue                       | PENNSYLVANIA ST TURNPIKE COMMISSION OIL FRANCHISE TAX REVENU | CUSIP: 709221WV3<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1435000 | PA      | $1223060.07   | 0.19%             | 2053-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Detroit MI Water Supply System Revenue                                   | DETROIT MI WTR SPLY SYS REVENUE                              | CUSIP: 251256CQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5008.35      | 0.00%             | 2036-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| City of Santa Fe NM                                                              | SANTA FE NM RETMNT FAC REVENUE                               | CUSIP: 802170AP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $190288.06    | 0.03%             | 2044-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Phoenix Civic Improvement Corp                                           | PHOENIX AZ CIVIC IMPT CORP WSTWTR SYS REVENUE                | CUSIP: 71883PMN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2425000 | PA      | $2568519.99   | 0.39%             | 2047-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Patriots Energy Group Financing Agency                                           | PATRIOTS ENERGY GROUP FING AGY SC GAS SPLY REVENUE           | CUSIP: 70342PAN4<br>LEI: 5493008X0DFBVFH4HL19 | Long             | DBT              | MUN               | US        |   1575000 | PA      | $1670913.23   | 0.26%             | 2054-10-01      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                | ILLINOIS ST                                                  | CUSIP: 4521526L0<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    795000 | PA      | $836417.74    | 0.13%             | 2039-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fayette County School District Finance Corp                                      | FAYETTE CNTY KY SCH DIST FIN CORP                            | CUSIP: 312432Y92<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    760000 | PA      | $776919.61    | 0.12%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Oklahoma/The                                                       | UNIV OK REVENUES                                             | CUSIP: 91476PZT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2660000 | PA      | $2703654.03   | 0.41%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                    | MASSACHUSETTS ST                                             | CUSIP: 57582R4E3<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   7706202 | PA      | $7936332.34   | 1.21%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505VZ6<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    500000 | PA      | $506303.45    | 0.08%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                               | SOUTH CAROLINA ST JOBS-ECON DEV AUTH HLTH FACS REVENUE       | CUSIP: 837032CF6<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    980000 | PA      | $1031819.58   | 0.16%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Texas Water Development Board                                                    | TEXAS WTR DEV BRD ST WTR IMPLEMENTATION REVENUE FUND         | CUSIP: 88285AGC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4780000 | PA      | $4507738.18   | 0.69%             | 2059-10-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Chicago Midway International Airport                                             | CHICAGO IL MIDWAY ARPT REVENUE                               | CUSIP: 167562QX8<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   2240000 | PA      | $2240317.52   | 0.34%             | 2046-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Harris TX Toll Road Revenue                                            | HARRIS CNTY TX TOLL ROAD REVENUE                             | CUSIP: 41423PDY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7370000 | PA      | $6533882.93   | 1.00%             | 2049-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Memphis-Shelby County Airport Authority                                          | MEMPHIS-SHELBY CNTY TN ARPT AUTH ARPT REVENUE                | CUSIP: 586111PM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3515000 | PA      | $3507321.41   | 0.54%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                            | MET TRANSPRTN AUTH NY REVENUE                                | CUSIP: 59261AG43<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    370000 | PA      | $371676.76    | 0.06%             | 2050-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington Metropolitan Area Transit Authority Dedicated Revenue                 | WASHINGTON DC MET AREA TRANSIT AUTH DEDICATED REVENUE        | CUSIP: 93878YBT5<br>LEI: 549300ADKOK76HQMJS30 | Long             | DBT              | MUN               | US        |    875000 | PA      | $781497.73    | 0.12%             | 2046-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                             | CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE                 | CUSIP: 167593L75<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1390000 | PA      | $1242494.37   | 0.19%             | 2053-01-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                        | NEW JERSEY ST ECON DEV AUTH REVENUE                          | CUSIP: 64577B5G5<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   4275000 | PA      | $4298058.62   | 0.66%             | 2048-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Broward FL Airport System Revenue                                      | BROWARD CNTY FL ARPT SYS REVENUE                             | CUSIP: 114894YU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001739.43   | 0.15%             | 2049-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rhode Island Housing & Mortgage Finance Corp                                     | RHODE ISLAND ST HSG & MTGE FIN CORP                          | CUSIP: 76221SBK6<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1490784.56   | 0.23%             | 2044-10-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                                      | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE            | CUSIP: 56035DFK3<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   9240000 | PA      | $9639356.19   | 1.48%             | 2053-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                         | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57584XD65<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1110000 | PA      | $1112781.95   | 0.17%             | 2042-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505WC6<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   2510000 | PA      | $2383455.56   | 0.36%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                        | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE             | CUSIP: 5742182Q5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2125000 | PA      | $2093791.49   | 0.32%             | 2045-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corp                                                | TOBACCO SETTLEMENT FING CORP NJ                              | CUSIP: 888808HR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4430000 | PA      | $4449262.61   | 0.68%             | 2046-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Empire State Development Corp                                                    | NEW YORK ST URBAN DEV CORP REVENUE                           | CUSIP: 650036AN6<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2779801.71   | 0.43%             | 2045-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Erie Tobacco Asset Securitization Corp                                           | ERIE CNTY NY TOBACCO ASSET SECURITIZATION CORP TOBACCO SETTL | CUSIP: 295095BB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3585000 | PA      | $3209999.46   | 0.49%             | 2045-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                             | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FWT7<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    480000 | PA      | $498881.73    | 0.08%             | 2047-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                                 | FLORIDA ST DEV FIN CORP EDUCTNL FACS REVENUE                 | CUSIP: 34061UKQ0<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |     75000 | PA      | $68375.20     | 0.01%             | 2056-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                             | DIST OF COLUMBIA TAX INCR REVENUE                            | CUSIP: 254840DA6<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1195000 | PA      | $1196209.39   | 0.18%             | 2041-06-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Michigan State Housing Development Authority                                     | Michigan State Housing Development Authority                 | CUSIP: 59465M4M4<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   2338383 | PA      | $2132105.79   | 0.33%             | 2048-10-01      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| District of Columbia Housing Finance Agency                                      | District of Columbia Housing Finance Agency                  | CUSIP: 254768SQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1254222.79   | 0.19%             | 2039-09-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission Oil Franchise Tax Revenue                       | PENNSYLVANIA ST TURNPIKE COMMISSION OIL FRANCHISE TAX REVENU | CUSIP: 709221VZ5<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   9445000 | PA      | $8339495.71   | 1.28%             | 2051-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Port Authority of Houston of Harris County Texas                                 | PORT HOUSTON TX AUTH                                         | CUSIP: 734262GW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1411550.81   | 0.22%             | 2053-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                      | WASHINGTON ST HSG FIN COMMISSION NONPROFIT HSG REVENUE       | CUSIP: 939783VW3<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    900000 | PA      | $833544.94    | 0.13%             | 2043-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Enterprise Development Authority                                      | CALIFORNIA ST ENTERPRISE DEV AUTH REVENUE                    | CUSIP: 13067RCZ4<br>LEI: 549300544P6FSHU1HB46 | Long             | DBT              | MUN               | US        |   1025000 | PA      | $998511.35    | 0.15%             | 2062-11-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PF67<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2655000 | PA      | $2732354.59   | 0.42%             | 2049-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                            | MET TRANSPRTN AUTH NY REVENUE                                | CUSIP: 59261AHP5<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |     10000 | PA      | $10013.63     | 0.00%             | 2056-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of San Antonio TX Electric & Gas Systems Revenue                            | SAN ANTONIO TX ELEC & GAS REVENUE                            | CUSIP: 79625GGT4<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |   6755000 | PA      | $7248720.25   | 1.11%             | 2050-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade Seaport Department                                          | MIAMI-DADE CNTY FL SEAPORT REVENUE                           | CUSIP: 59335KFB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1245000 | PA      | $1261472.74   | 0.19%             | 2052-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Missouri Housing Development Commission                                          | MISSOURI ST HSG DEV COMMISSION SF MTGE REVENUE               | CUSIP: 60637GDE6<br>LEI: 5493007FBL7WCV3NKY25 | Long             | DBT              | MUN               | US        |   6360000 | PA      | $6118736.13   | 0.94%             | 2049-11-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Harris County-Houston Sports Authority                                           | HARRIS CNTY-HOUSTON TX SPORTS AUTH REVENUE                   | CUSIP: 413890BA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10690000 | PA      | $4168738.25   | 0.64%             | 2041-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Columbus Regional Airport Authority                                              | COLUMBUS OH REGL ARPT AUTH REVENUE                           | CUSIP: 199546DD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1745000 | PA      | $1812705.55   | 0.28%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency Inc                                                         | CAPITAL TRUST AGY FL EDUCTNL FACS REVENUE                    | CUSIP: 14054CFG9<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    170000 | PA      | $140897.45    | 0.02%             | 2057-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Wisconsin Housing & Economic Development Authority                               | Wisconsin Housing & Economic Development Authority           | CUSIP: 976904Q54<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1677778 | PA      | $1539434.67   | 0.24%             | 2057-05-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                            | MET TRANSPRTN AUTH NY REVENUE                                | CUSIP: 59261AHL4<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   2670000 | PA      | $2591900.18   | 0.40%             | 2056-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Gainesville FL Utilities System Revenue                                  | GAINESVILLE FL UTILITIES SYS REVENUE                         | CUSIP: 362848VJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $21563.49     | 0.00%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                              | NEW YORK NY                                                  | CUSIP: 64966Q6M7<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   2265000 | PA      | $2347929.15   | 0.36%             | 2046-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development Bank                            | CALIFORNIA ST INFRASTRUCTURE & ECON DEV BANK REVENUE         | CUSIP: 13034A6B1<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |   3200000 | PA      | $3077738.78   | 0.47%             | 2065-01-01      | Floating      | 9.50%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority Sales Tax Revenue                           | TRIBOROUGH NY BRIDGE & TUNNEL AUTH SALES TAX REVENUE         | CUSIP: 896035CD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6415000 | PA      | $5873915.98   | 0.90%             | 2058-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| City of San Antonio TX Electric & Gas Systems Revenue                            | SAN ANTONIO TX ELEC & GAS REVENUE                            | CUSIP: 79625GGT4<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |   4400000 | PA      | $4721594.24   | 0.72%             | 2050-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority Aviation Revenue                      | MET WASHINGTON DC ARPTS AUTH ARPT SYS REVENUE                | CUSIP: 592647NF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8957970 | PA      | $9105620.89   | 1.39%             | 2049-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Washington Township Health Care District                                         | WASHINGTON TWP CA HLTH CARE DIST                             | CUSIP: 940642CF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    920000 | PA      | $921878.86    | 0.14%             | 2040-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                         | ARIZONA ST INDL DEV AUTH EDU REVENUE                         | CUSIP: 04052BJN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $479479.05    | 0.07%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Lansing MI                                                               | LANSING MI                                                   | CUSIP: 516372UB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1360000 | PA      | $1231732.91   | 0.19%             | 2048-06-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                     | MASSACHUSETTS ST PORT AUTH                                   | CUSIP: 575896SQ9<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1504708.56   | 0.23%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Municipal Electric Authority of Georgia                                          | MUNI ELEC AUTH OF GEORGIA                                    | CUSIP: 626207X33<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    480000 | PA      | $478179.89    | 0.07%             | 2059-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Higher Education Student Assistance Authority                         | NEW JERSEY ST HGR EDU ASSISTANCE AUTH STUDENT LOAN REVENUE   | CUSIP: 646080WQ0<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |   3425000 | PA      | $3249013.57   | 0.50%             | 2052-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Housing Finance Agency                                            | NORTH CAROLINA ST HSG FIN AGY HOMEOWNERSHIP REVENUE          | CUSIP: 6582077N9<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |   1445000 | PA      | $1420257.32   | 0.22%             | 2050-07-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| County of Pasco FL                                                               | PASCO CNTY FL CAPITAL IMPT CIGARETTE TAX ALLOCATION          | CUSIP: 70252AAX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $530835.73    | 0.08%             | 2054-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Power County Industrial Development Corp                                         | PWR CNTY ID INDL DEV CORP SOL WST DISP REVENUE               | CUSIP: 739247AA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2003784.34   | 0.31%             | 2032-08-01      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | ILLINOIS ST FIN AUTH REVENUE                                 | CUSIP: 45204EA32<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1485000 | PA      | $1323115.49   | 0.20%             | 2047-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Utah Charter School Finance Authority                                            | UTAH ST CHRT SCH FIN AUTH CHRT SCH REVENUE                   | CUSIP: 91754TC76<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    385000 | PA      | $342514.35    | 0.05%             | 2055-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Michigan Trunk Line Revenue                                             | MICHIGAN ST TRUNK LINE                                       | CUSIP: 5946954P0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1980000 | PA      | $2059490.49   | 0.32%             | 2046-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116GP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1265000 | PA      | $1310762.35   | 0.20%             | 2040-04-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Harris County Flood Control District                                             | HARRIS CNTY TX FLOOD CONTROL DIST                            | CUSIP: 414019CP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1340000 | PA      | $1197115.06   | 0.18%             | 2048-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Hawaii Airports System Revenue                                          | HAWAII ST DEPT OF TRANSPRTN ARPTS DIV LEASE REVENUE COPS     | CUSIP: 419808AJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $425289.26    | 0.07%             | 2025-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| University of North Carolina at Chapel Hill                                      | UNIV OF NORTH CAROLINA AT CHAPEL HILL NC HOSP REVENUE        | CUSIP: 914714CZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    460000 | PA      | $493617.25    | 0.08%             | 2049-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                            | MET TRANSPRTN AUTH NY REVENUE                                | CUSIP: 59261AG35<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1950000 | PA      | $1941556.68   | 0.30%             | 2045-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Arlington Higher Education Finance Corp                                          | ARLINGTON TX HGR EDU FIN CORP EDU REVENUE                    | CUSIP: 041807CF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1165000 | PA      | $1119022.89   | 0.17%             | 2062-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Orange County Health Facilities Authority                                        | ORANGE CNTY FL HLTH FACS AUTH REVENUE                        | CUSIP: 68450LJR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3310000 | PA      | $3143849.72   | 0.48%             | 2056-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505XK7<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1760000 | PA      | $1761010.31   | 0.27%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Salt Verde Financial Corp                                                        | SALT VERDE AZ FINANCIAL CORP SENIOR GAS REVENUE              | CUSIP: 79575EAR9<br>LEI: 549300VEWOZY6TQOIF03 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3670021.53   | 0.56%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUSTFUND AUTH                       | CUSIP: 64613CFG8<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1345000 | PA      | $1352700.66   | 0.21%             | 2046-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp                                                | NEW YORK ST LIBERTY DEV CORP LIBERTY REVENUE                 | CUSIP: 649519DA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3920000 | PA      | $3895642.65   | 0.60%             | 2044-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Diego Unified School District/CA                                             | SAN DIEGO CA UNIF SCH DIST                                   | CUSIP: 797356EX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2385000 | PA      | $2050567.57   | 0.31%             | 2029-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                   | BLACK BELT ENERGY GAS DIST AL GAS SPLY REVENUE               | CUSIP: 09182NBR0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   9590000 | PA      | $9478509.82   | 1.45%             | 2051-06-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Industrial Development Authority of the County of Pima/The                       | PIMA CNTY AZ INDL DEV AUTH EDU REVENUE                       | CUSIP: 72177MSV0<br>LEI: 549300QDTQ25545R4K19 | Long             | DBT              | MUN               | US        |    300000 | PA      | $280192.98    | 0.04%             | 2049-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Orange County Health Facilities Authority                                        | ORANGE CNTY FL HLTH FACS AUTH REVENUE                        | CUSIP: 68450LHL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1075000 | PA      | $1092752.03   | 0.17%             | 2053-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas Transportation Commission State Highway 249 System                         | TEXAS ST TRANSPRTN COMMISSION ST HIGHWAY 249 SYS TOLL REV    | CUSIP: 88283NAE2<br>LEI: 5493006JSGNPGVJS7691 | Long             | DBT              | MUN               | US        |    270000 | PA      | $173037.70    | 0.03%             | 2035-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Virginia Housing Development Authority                                           | VIRGINIA ST HSG DEV AUTH CMWLTH MTGE                         | CUSIP: 92812U6J2<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |    365000 | PA      | $351219.38    | 0.05%             | 2044-10-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Metropolitan Pier & Exposition Authority                                         | MET PIER & EXPOSITION AUTH IL DEDICATED ST TAX REVENUE       | CUSIP: 592248BB3<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   3765000 | PA      | $1468235.54   | 0.22%             | 2044-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade FL Aviation Revenue                                         | MIAMI-DADE CNTY FL AVIATION REVENUE                          | CUSIP: 59333P4B1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3525000 | PA      | $3543285.51   | 0.54%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fort Bend Independent School District                                            | FORT BEND TX INDEP SCH DIST                                  | CUSIP: 346843WQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    990000 | PA      | $902377.31    | 0.14%             | 2049-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York Power Authority                                                         | NEW YORK ST PWR AUTH REVENUE                                 | CUSIP: 64989KLF1<br>LEI: I5P1GEYFGGMMDOFX2L30 | Long             | DBT              | MUN               | US        |   1160000 | PA      | $1027717.15   | 0.16%             | 2055-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Franklin OH                                                            | FRANKLIN CNTY OH REVENUE                                     | CUSIP: 353202FY5<br>LEI: 549300VCBUC1RZE7KL42 | Long             | DBT              | MUN               | US        |    365000 | PA      | $325634.99    | 0.05%             | 2044-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Salt Verde Financial Corp                                                        | SALT VERDE AZ FINANCIAL CORP SENIOR GAS REVENUE              | CUSIP: 79575EAS7<br>LEI: 549300VEWOZY6TQOIF03 | Long             | DBT              | MUN               | US        |   5235000 | PA      | $5439555.69   | 0.83%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeast Alabama Gas Supply District/The                                        | S E ALABAMA ST GAS SPLY DIST GAS SPLY REVENUE                | CUSIP: 84131TBT8<br>LEI: 549300BL04JIB2GJZ178 | Long             | DBT              | MUN               | US        |   2825000 | PA      | $2934940.75   | 0.45%             | 2049-06-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Hawaii Airports System Revenue                                          | HAWAII ST DEPT OF TRANSPRTN ARPTS DIV LEASE REVENUE COPS     | CUSIP: 419808AK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    460000 | PA      | $460851.73    | 0.07%             | 2026-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Metropolitan Government Nashville & Davidson County Health & Educational Facs Bd | MET GOVT NASHVILLE & DAVIDSONCNTY TN HLTH & EDUCTNL FAC BRD  | CUSIP: 592041YP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $183343.05    | 0.03%             | 2049-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                        | NEW JERSEY ST ECON DEV AUTH REVENUE                          | CUSIP: 64577B7J7<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    365000 | PA      | $382921.60    | 0.06%             | 2034-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Salt Lake City UT Airport Revenue                                        | SALT LAKE CITY UT ARPT REVENUE                               | CUSIP: 795576HL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3410000 | PA      | $3366576.55   | 0.52%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                        | HOUSTON TX ARPT SYS REVENUE                                  | CUSIP: 442349FX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1390000 | PA      | $1169579.08   | 0.18%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-30

**Name of Applicant:** BlackRock MuniHoldings Fund, Inc.

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer