# EDGAR Filing Document

**Accession Number:** 0000757010
**File Stem:** 0001752724-25-178322
**Filing Date:** 2025-7
**Character Count:** 164043
**Document Hash:** 84e0f00cb9a6d32242a7625d63506553
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-178322.hdr.sgml**: 20250725

**ACCESSION NUMBER**: 0001752724-25-178322

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250725

**DATE AS OF CHANGE**: 20250725

**PERIOD START**: 20260228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FRANKLIN TAX FREE TRUST
- **CENTRAL INDEX KEY:** 0000757010

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 0228

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04149
- **FILM NUMBER:** 251150165

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403-1906
- **BUSINESS PHONE:** 650-312-2000

**MAIL ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403-1906

## Series and Classes Contracts Data

### FRANKLIN FEDERAL LIMITED-TERM TAX-FREE INCOME FUND (Series ID: S000006933)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018804 | CLASS A1      | FFTFX           |
| C000096868 | Advisor Class | FTFZX           |
| C000194373 | Class R6      | FFTRX           |
| C000205911 | Class A       | FFLQX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Franklin Tax Free Trust

- **b. Investment Company Act file number:** 811-04149

- **c. CIK number of Registrant:** 0000757010

- **d. LEI of Registrant:** 549300C12HCE48FV1C70

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

  - **Street Address 1:** One Franklin Parkway

  - **City:** San Mateo

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94403-1906

  - **Telephone number:** 650-312-2000

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

- **a. Name of Series:** Franklin Federal Limited-Term Tax-Free Income Fund

- **b. EDGAR series identifier (if any):** S000006933

- **c. LEI of Series:** 5493007EWSZA540FRT73

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

- **a. Date of fiscal year-end:** 2026-02-28

- **b. Date as of which information is reported:** 2025-05-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $884481683.21

**Total Liabilities:** $8450363.47

**Net Assets:** $876031319.74

**Delayed Delivery Securities:** $5576504.00

**Cash Not Reported:** $867237.96

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -1444.13000000 | **1-Year:** -23845.66000000 | **5-Year:** -40461.93000000 | **10-Year:** -54937.79000000 | **30-Year:** -57833.92000000

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

- **3-Month:** -684.37000000 | **1-Year:** -2901.82000000 | **5-Year:** -5037.72000000 | **10-Year:** -3186.00000000 | **30-Year:** -4540.49000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000205911 | -0.27%               | -0.26%               | 0.43%                |
| Class ID C000096868 | -0.35%               | -0.14%               | 0.45%                |
| Class ID C000018804 | -0.26%               | -0.25%               | 0.44%                |
| Class ID C000194373 | -0.25%               | -0.24%               | 0.46%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-352938.37              | $-4330784.75                               |
| Month 2  | $-1882446.12             | $-1797962.85                               |
| Month 3  | $-10211.85               | $1733469.38                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| County of Trimble KY                                                                  | County of Trimble, Series 2001 A                                                                                       | CUSIP: 896224BC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3375000 | PA      | $3230747.10   | 0.37%             | 2026-09-01      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| City of Atlanta GA Department of Aviation                                             | City of Atlanta, Series 2024 A-1                                                                                       | CUSIP: 04780MS67<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $306741.72    | 0.04%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                       | California Community Choice Financing Authority, Series 2021 B-1                                                       | CUSIP: 13013JAG1<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    470000 | PA      | $476106.62    | 0.05%             | 2028-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Kentucky State Property & Building Commission                                         | Kentucky State Property & Building Commission, Series A                                                                | CUSIP: 49151F4U1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5715000 | PA      | $6325869.49   | 0.72%             | 2033-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Entrada Community Development District                                                | Entrada Community Development District, Series 2021                                                                    | CUSIP: 29384HAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    370000 | PA      | $342915.30    | 0.04%             | 2031-05-01      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                        | Black Belt Energy Gas District, Series 2024 A                                                                          | CUSIP: 09182TDL8<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2109020.60   | 0.24%             | 2055-05-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Halifax Hospital Medical Center                                                       | Halifax Hospital Medical Center, Series 2016                                                                           | CUSIP: 405815LB5<br>LEI: 549300H6HDJUXLEMUW23 | Long             | DBT              | MUN               | US        |   2890000 | PA      | $2938969.03   | 0.34%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                                  | Colorado Health Facilities Authority, Series 2022 A                                                                    | CUSIP: 19648FWD2<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    900000 | PA      | $958195.89    | 0.11%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Babcock Ranch Community Independent Special District                                  | Babcock Ranch Community Independent Special District, Series 2020                                                      | CUSIP: 05616KBC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    515000 | PA      | $492282.01    | 0.06%             | 2030-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Village Community Development District No. 15                                         | Village Community Development District No. 15, Series 2024                                                             | CUSIP: 92708KAF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    740000 | PA      | $734328.49    | 0.08%             | 2029-05-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                        | Black Belt Energy Gas District, Series 2024 C                                                                          | CUSIP: 09182TDU8<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10401413.00  | 1.19%             | 2055-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Laramie WY                                                                  | County of Laramie, Series 2021                                                                                         | CUSIP: 516706CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $557118.05    | 0.06%             | 2027-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Florida Municipal Power Agency                                                        | Florida Municipal Power Agency, Series 2017 A                                                                          | CUSIP: 342816N84<br>LEI: 549300M3I10QJUPNU131 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006152.90   | 0.11%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of San Antonio TX Electric & Gas Systems Revenue                                 | City of San Antonio, Series 2015                                                                                       | CUSIP: 7962534A7<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |  10415000 | PA      | $10550830.35  | 1.20%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                     | State of Illinois, Series 2017 D                                                                                       | CUSIP: 452152P96<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   5025000 | PA      | $5229078.32   | 0.60%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Iowa Finance Authority                                                                | Iowa Finance Authority, Series 2023 B                                                                                  | CUSIP: 46247SFC3<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |    640000 | PA      | $672935.55    | 0.08%             | 2028-05-15      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| Eastern Kentucky University                                                           | Eastern Kentucky University, Series 2021 A                                                                             | CUSIP: 276552GT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1205000 | PA      | $1216144.68   | 0.14%             | 2026-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| South Carolina State Housing Finance & Development Authority                          | South Carolina State Housing Finance & Development Authority, Series 2021 B                                            | CUSIP: 83712EHP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1495379.10   | 0.17%             | 2025-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                         | Main Street Natural Gas, Inc., Series 2022 A                                                                           | CUSIP: 56035DDX7<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4463702.10   | 0.51%             | 2052-09-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                            | Michigan Finance Authority, Series 2016                                                                                | CUSIP: 59447TMC4<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2045335.80   | 0.23%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Summerstone Community Development District                                            | Summerstone Community Development District, Series 2020                                                                | CUSIP: 865711AB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    165000 | PA      | $161200.74    | 0.02%             | 2030-05-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Denver City & County School District No. 1                                            | Denver City & County School District No. 1, Series 2025 A                                                              | CUSIP: 249174YU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5704493.50   | 0.65%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Las Vegas Valley Water District                                                       | Las Vegas Valley Water District, Series 2020 D                                                                         | CUSIP: 517845JE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2750000.00   | 0.31%             | 2025-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power                                               | Los Angeles Department of Water & Power, Series 2020 A                                                                 | CUSIP: 544532AS3<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |  16180000 | PA      | $16195879.05  | 1.85%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Santa Fe                                                                    | County of Santa Fe, Series 2024                                                                                        | CUSIP: 80189NAD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3700000 | PA      | $3691551.05   | 0.42%             | 2049-12-10      | Variable      | 3.29%                 | No            |                  2 | On Loan: No      |
| County of Cook IL Sales Tax Revenue                                                   | County of Cook, Series 2024                                                                                            | CUSIP: 213248EB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1062454.70   | 0.12%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Texas Turnpike System                                                         | Central Texas Turnpike System, Series 2002 A                                                                           | CUSIP: 882762FG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3280000 | PA      | $3051605.73   | 0.35%             | 2027-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                              | Massachusetts Development Finance Agency, Series 2011 N                                                                | CUSIP: 57584YN47<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $996301.40    | 0.11%             | 2041-07-01      | Variable      | 0.45%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                                           | Virginia Small Business Financing Authority, Series 2022                                                               | CUSIP: 928104NF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1755325.78   | 0.20%             | 2029-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Allegheny County Airport Authority                                                    | Allegheny County Airport Authority, Series 2023 A                                                                      | CUSIP: 01728LGV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1079050.50   | 0.12%             | 2036-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Parish of St. John the Baptist                                                        | Parish of St. John the Baptist, Series 2017 C                                                                          | CUSIP: 79020FBB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4901939.50   | 0.56%             | 2037-06-01      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                                             | New York Transportation Development Corp., Series 2018                                                                 | CUSIP: 650116CP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7195000 | PA      | $7194658.96   | 0.82%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| THF Public Facility Corp.                                                             | THF Public Facility Corp., Series 2022                                                                                 | CUSIP: 883720AA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3496378.20   | 0.40%             | 2040-03-01      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                     | State of Illinois, Series 2016                                                                                         | CUSIP: 452152H20<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    750000 | PA      | $767292.68    | 0.09%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                                 | Pennsylvania Economic Development Financing Authority, Series 2025 A                                                   | CUSIP: 70870JGZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8200000 | PA      | $8531557.16   | 0.97%             | 2060-03-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                             | Indiana Finance Authority, Series 2025 B                                                                               | CUSIP: 45506EMZ3<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    785000 | PA      | $814810.85    | 0.09%             | 2030-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Berea KY                                                                      | City of Berea, Series 2002 A                                                                                           | CUSIP: 083536AB8<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |    150000 | PA      | $150000.00    | 0.02%             | 2032-06-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Citizens Memorial Hospital District                                                   | Citizens Memorial Hospital District, Series 2024 A                                                                     | CUSIP: 174762EV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5015316.00   | 0.57%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| St Johns County Housing Finance Authority                                             | St. Johns County Housing Finance Authority, Series 2023 B                                                              | CUSIP: 79039AAB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $995076.70    | 0.11%             | 2028-12-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Kentucky Municipal Energy Agency                                                      | Kentucky Municipal Energy Agency, Series 2025                                                                          | CUSIP: 491499AG4<br>LEI: 254900W8G3M70YHUAO94 | Long             | DBT              | MUN               | US        |   3020000 | PA      | $3313371.26   | 0.38%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                             | Indiana Finance Authority, Series 2025 B                                                                               | CUSIP: 45506ENE9<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    535000 | PA      | $553346.06    | 0.06%             | 2035-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                             | Indiana Finance Authority, Series 2021 B                                                                               | CUSIP: 455059AL9<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4472263.35   | 0.51%             | 2025-08-01      | Fixed         | 0.65%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                            | Illinois Finance Authority, Series 2019                                                                                | CUSIP: 45204E2L1<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   3570000 | PA      | $3566525.32   | 0.41%             | 2034-11-01      | Floating      | 4.23%                 | No            |                  2 | On Loan: No      |
| Wayne County Airport Authority                                                        | Wayne County Airport Authority, Series 2017 E                                                                          | CUSIP: 944514YL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5047942.00   | 0.58%             | 2026-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Trimble KY                                                                  | County of Trimble, Series 2023 A                                                                                       | CUSIP: 896221AF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2516225.50   | 0.29%             | 2054-06-01      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade FL Aviation Revenue                                              | County of Miami-Dade, Series 2024 A                                                                                    | CUSIP: 59333P7D4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4650000 | PA      | $4810252.49   | 0.55%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Development Authority of Monroe County (The)                                          | Development Authority of Monroe County (The), Series 2009                                                              | CUSIP: 610530FU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1908725.60   | 0.22%             | 2049-07-01      | Variable      | 1.00%                 | No            |                  2 | On Loan: No      |
| Chicago Park District                                                                 | Chicago Park District, Series 2020 F-2                                                                                 | CUSIP: 167615F32<br>LEI: 549300DNSTZGBZLIU409 | Long             | DBT              | MUN               | US        |    500000 | PA      | $504930.20    | 0.06%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Providence RI                                                                 | City of Providence, Series 2021 A                                                                                      | CUSIP: 743787Z97<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $504911.00    | 0.06%             | 2026-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                                           | Virginia Small Business Financing Authority, Series 2021                                                               | CUSIP: 928103AN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $228651.65    | 0.03%             | 2025-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Hillsborough County Aviation Authority                                                | Hillsborough County Aviation Authority, Series 2024 B                                                                  | CUSIP: 432308V43<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10085000 | PA      | $10823053.58  | 1.24%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Eastern Kentucky University                                                           | Eastern Kentucky University, Series 2021 A                                                                             | CUSIP: 276552GS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1155000 | PA      | $1155592.52   | 0.13%             | 2025-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| North Carolina Capital Facilities Finance Agency                                      | North Carolina Capital Facilities Finance Agency, Series 2021 A                                                        | CUSIP: 65818PNV7<br>LEI: 549300PWNPSB7G58A235 | Long             | DBT              | MUN               | US        |    850000 | PA      | $862614.00    | 0.10%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Allentown Neighborhood Improvement Zone Development Authority                         | Allentown Neighborhood Improvement Zone Development Authority, Series 2022                                             | CUSIP: 018444BP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    590000 | PA      | $605441.24    | 0.07%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia Gas Works Co.                                                            | Philadelphia Gas Works Co., Series 16th A                                                                              | CUSIP: 71783MBH7<br>LEI: 549300H8UJ7V5WU5IA90 | Long             | DBT              | MUN               | US        |    600000 | PA      | $614543.52    | 0.07%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                            | Illinois Finance Authority, Series 2024                                                                                | CUSIP: 45204FXK6<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    400000 | PA      | $410444.80    | 0.05%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                               | South Carolina Public Service Authority, Series 2024 A                                                                 | CUSIP: 8371513P2<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    675000 | PA      | $735088.03    | 0.08%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kaufman County Fresh Water Supply District No. 1-D                                    | Kaufman County Fresh Water Supply District No. 1-D, Series 2024                                                        | CUSIP: 48618TBQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    385000 | PA      | $399751.66    | 0.05%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                              | New Hampshire Business Finance Authority, Series 2024-3, Class A                                                       | CUSIP: 63607WAW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    994983 | PA      | $877655.61    | 0.10%             | 2041-10-20      | Variable      | 4.16%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power                                               | Los Angeles Department of Water & Power, Series 2002 A-6                                                               | CUSIP: 544495DX9<br>LEI: 549300S8NXV6YU61GG95 | Long             | STIV             | MUN               | US        |   3200000 | PA      | $3200000.00   | 0.37%             | 2035-07-01      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| Montgomery County Industrial Development Authority/PA                                 | Montgomery County Industrial Development Authority, Series 2023 A                                                      | CUSIP: 61361TAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5062799.00   | 0.58%             | 2053-04-01      | Variable      | 4.10%                 | No            |                  2 | On Loan: No      |
| Columbus Metropolitan Housing Authority                                               | Columbus Metropolitan Housing Authority, Series 2024                                                                   | CUSIP: 19951AAR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1434561.00   | 0.16%             | 2034-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                         | Main Street Natural Gas, Inc., Series 2023 D                                                                           | CUSIP: 56035DFT4<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4156420.00   | 0.47%             | 2054-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Jacksonville Transportation Authority                                                 | Jacksonville Transportation Authority, Series 2020                                                                     | CUSIP: 469494AZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1805389.56   | 0.21%             | 2025-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Iowa Higher Education Loan Authority                                                  | Iowa Higher Education Loan Authority, Series 2025                                                                      | CUSIP: 46247DAX5<br>LEI: 549300DWVTM3KRNR0M36 | Long             | DBT              | MUN               | US        |   1370000 | PA      | $1434978.55   | 0.16%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Deschutes & Jefferson Counties School District No. 2J Redmond                         | Deschutes & Jefferson Counties School District No. 2J Redmond, Series 2021                                             | CUSIP: 250343KG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $849846.41    | 0.10%             | 2025-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                                           | Virginia Small Business Financing Authority, Series 2021                                                               | CUSIP: 928103AP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $231740.64    | 0.03%             | 2026-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Eastern Kentucky University                                                           | Eastern Kentucky University, Series 2021 A                                                                             | CUSIP: 276552GU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1255000 | PA      | $1276306.51   | 0.15%             | 2027-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Texas Municipal Gas Acquisition & Supply Corp. IV                                     | Texas Municipal Gas Acquisition & Supply Corp. IV, Series 2023 A                                                       | CUSIP: 88256PAG5<br>LEI: 549300PTUE847QDBBW22 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5284991.50   | 0.60%             | 2054-01-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                            | Illinois Finance Authority, Series 2015 A                                                                              | CUSIP: 45203HU34<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    590000 | PA      | $590123.25    | 0.07%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                               | South Carolina Public Service Authority, Series 2024 A                                                                 | CUSIP: 8371514F3<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3127946.40   | 0.36%             | 2054-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                              | Arizona Industrial Development Authority, Series 2020 A                                                                | CUSIP: 04052FBC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002879.80   | 0.11%             | 2025-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Lakes by the Bay South Community Development District                                 | Lakes by the Bay South Community Development District, Series 2024                                                     | CUSIP: 51206QAM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    710000 | PA      | $716098.19    | 0.08%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                               | South Carolina Public Service Authority, Series 2024 A                                                                 | CUSIP: 8371513M9<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    500000 | PA      | $532084.15    | 0.06%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maricopa County Industrial Development Authority                                      | Maricopa County Industrial Development Authority, Series 2024                                                          | CUSIP: 56681NJD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8345000 | PA      | $8551739.03   | 0.98%             | 2029-10-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| State of Oregon                                                                       | State of Oregon, Series 2015 B                                                                                         | CUSIP: 68608U3M6<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |   2785000 | PA      | $2793570.28   | 0.32%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Mounds View                                                                   | City of Mounds View, Series 2024                                                                                       | CUSIP: 620646AC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5500000 | PA      | $5504184.40   | 0.63%             | 2046-03-01      | Variable      | 3.38%                 | No            |                  2 | On Loan: No      |
| Arkansas Development Finance Authority                                                | Arkansas Development Finance Authority, Series 2024                                                                    | CUSIP: 04109FCC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    735000 | PA      | $749351.32    | 0.09%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                       | California Community Choice Financing Authority, Series 2021 B-1                                                       | CUSIP: 13013JAE6<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    400000 | PA      | $404511.92    | 0.05%             | 2027-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Youngstown State University                                                           | Youngstown State University, Series 2021                                                                               | CUSIP: 987720EX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $864775.89    | 0.10%             | 2026-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                     | State of Illinois, Series 2017 C                                                                                       | CUSIP: 452152P21<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2063772.00   | 0.24%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Garden State Preservation Trust                                                       | Garden State Preservation Trust, Series 2005 A                                                                         | CUSIP: 365418BX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  20560000 | PA      | $21578690.43  | 2.46%             | 2028-11-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Louisiana Offshore Terminal Authority                                                 | Louisiana Offshore Terminal Authority, Series 2007 A                                                                   | CUSIP: 546510FS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1509381.45   | 0.17%             | 2027-09-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Delaware State Economic Development Authority                                         | Delaware State Economic Development Authority, Series 2020 A                                                           | CUSIP: 246387SV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4923719.50   | 0.56%             | 2045-10-01      | Variable      | 1.25%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                                             | New York Transportation Development Corp., Series 2020 C                                                               | CUSIP: 650116EE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2216303.10   | 0.25%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Municipal Energy Agency                                                      | Kentucky Municipal Energy Agency, Series 2025                                                                          | CUSIP: 491499AF6<br>LEI: 254900W8G3M70YHUAO94 | Long             | DBT              | MUN               | US        |   2875000 | PA      | $3156118.65   | 0.36%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Westside 211 Special Improvement District                                             | Westside 211 Special Improvement District, Series 2021                                                                 | CUSIP: 96145JAF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $266156.07    | 0.03%             | 2027-08-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Spokane County School District No. 354 Mead                                           | Spokane County School District No. 354 Mead, Series 2018                                                               | CUSIP: 848780SV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1162131.01   | 0.13%             | 2032-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Energy Southeast A Cooperative District                                               | Energy Southeast A Cooperative District, Series 2023 A-1                                                               | CUSIP: 292723AK9<br>LEI: 2549001SMMZ81MXBXZ89 | Long             | DBT              | MUN               | US        |   4285000 | PA      | $4577273.42   | 0.52%             | 2053-11-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Kaufman County Fresh Water Supply District No. 1-D                                    | Kaufman County Fresh Water Supply District No. 1-D, Series 2021                                                        | CUSIP: 48618TAS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $144815.04    | 0.02%             | 2027-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| City of New Orleans LA Sewerage Service Revenue                                       | City of New Orleans, Series 2020 B                                                                                     | CUSIP: 647719PE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $621215.22    | 0.07%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois Sales Tax Revenue                                                   | State of Illinois, Series 2021 A                                                                                       | CUSIP: 452227RM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1523363.40   | 0.17%             | 2027-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Spokane County School District No. 354 Mead                                           | Spokane County School District No. 354 Mead, Series 2018                                                               | CUSIP: 848780SW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1552634.70   | 0.18%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                     | Southeast Energy Authority A Cooperative District, Series 2025 B                                                       | CUSIP: 84136HBT9<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1575000 | PA      | $1626256.96   | 0.19%             | 2055-03-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Maryland Economic Development Corp.                                                   | Maryland Economic Development Corp., Series 2022 A                                                                     | CUSIP: 57422JBH0<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10087853.00  | 1.15%             | 2028-11-12      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Adams County General Authority                                                        | Adams County General Authority, Series 2024 B-2                                                                        | CUSIP: 006114AG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1473541.20   | 0.17%             | 2029-06-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| City of Grand Forks ND                                                                | City of Grand Forks, Series 2021                                                                                       | CUSIP: 38546WCY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2325000 | PA      | $2390325.99   | 0.27%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CMFA Special Finance Agency VII                                                       | CMFA Special Finance Agency VII, Series 2021 A-2                                                                       | CUSIP: 12574UAC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    890000 | PA      | $730981.03    | 0.08%             | 2047-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                                   | Wisconsin Health & Educational Facilities Authority, Series 2024 B-2                                                   | CUSIP: 97712JJH7<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    840000 | PA      | $831628.22    | 0.09%             | 2028-08-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                               | South Carolina Public Service Authority, Series 2025 B                                                                 | CUSIP: 8371515Z8<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    750000 | PA      | $798126.23    | 0.09%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL                                                                    | City of Chicago, Series 2024 B                                                                                         | CUSIP: 167486T58<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1038027.00   | 0.12%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chester County Industrial Development Authority                                       | Chester County Industrial Development Authority, Series 2024                                                           | CUSIP: 165588FP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3294561.40   | 0.38%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                                             | New York Transportation Development Corp., Series 2020 A                                                               | CUSIP: 650116DE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $502697.75    | 0.06%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AES Puerto Rico LP                                                                    | AES Puerto Rico LP                                                                                                     | CUSIP: N/A<br>LEI: 54930031FSLPC1L9X341       | Long             | DBT              | CORP              | US        |    539723 | PA      | $539722.96    | 0.06%             | 2026-03-04      | Fixed         | 12.50%                | No            |                  3 | On Loan: No      |
| Los Angeles Department of Water & Power                                               | Los Angeles Department of Water & Power, Series 2025 A                                                                 | CUSIP: 544532PA6<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4150146.80   | 0.47%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Missouri Development Finance Board                                                    | Missouri Development Finance Board, Series 2021                                                                        | CUSIP: 60636SHM9<br>LEI: 549300JD8BCNBV9D3830 | Long             | DBT              | MUN               | US        |    660000 | PA      | $669892.87    | 0.08%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                        | New Jersey Transportation Trust Fund Authority, Series 2006 C                                                          | CUSIP: 646136EP2<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $9504636.00   | 1.08%             | 2026-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Sangamon County School District No. 186 Springfield                                   | Sangamon County School District No. 186 Springfield, Series 2020 C                                                     | CUSIP: 800766LV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1485000 | PA      | $1560956.86   | 0.18%             | 2036-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Cook IL Sales Tax Revenue                                                   | County of Cook, Series 2024                                                                                            | CUSIP: 213248EA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $522518.15    | 0.06%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arkansas Development Finance Authority                                                | Arkansas Development Finance Authority, Series 2024                                                                    | CUSIP: 04109FCD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $823791.20    | 0.09%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kindred Community Development District II                                             | Kindred Community Development District II, Series 2021                                                                 | CUSIP: 494581AF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $219778.51    | 0.03%             | 2031-05-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Minnesota Higher Education Facilities Authority                                       | Minnesota Higher Education Facilities Authority, Series 2019                                                           | CUSIP: 60416JBQ2<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023864.20   | 0.12%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Development Authority of Burke County (The)                                           | Development Authority of Burke County (The), Series 4th 1995                                                           | CUSIP: 121342QJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3010723.20   | 0.34%             | 2032-10-01      | Variable      | 3.80%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Combined Utility System Revenue                                    | City of Houston, Series 2018 D                                                                                         | CUSIP: 44244CSL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031361.90   | 0.12%             | 2026-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington Health Care Facilities Authority                                           | Washington Health Care Facilities Authority, Series 2021                                                               | CUSIP: 93978HXY6<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |    280000 | PA      | $301218.88    | 0.03%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Atlanta GA Department of Aviation                                             | City of Atlanta, Series 2020 A                                                                                         | CUSIP: 04780MWX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1502235.75   | 0.17%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| East Palm Drive Community Development District                                        | East Palm Drive Community Development District, Series 2024                                                            | CUSIP: 27425AAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    370000 | PA      | $370380.66    | 0.04%             | 2031-06-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                           | Washington State Housing Finance Commission, Series 2023                                                               | CUSIP: 93978LGK6<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    410000 | PA      | $422869.16    | 0.05%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Cumberland MD                                                                 | City of Cumberland, Series 2021                                                                                        | CUSIP: 230723NZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $455000.00    | 0.05%             | 2025-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Maryland                                                                     | State of Maryland, Series 2017 B                                                                                       | CUSIP: 574193PE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30751.51     | 0.00%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Roswell Development Authority                                                         | Roswell Development Authority, Series 2025 A                                                                           | CUSIP: 77853AAA1<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |   7500000 | PA      | $7500000.00   | 0.86%             | 2047-04-01      | Variable      | 3.05%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                        | Black Belt Energy Gas District, Series 2019 A-1                                                                        | CUSIP: 09182RAR2<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5000837.00   | 0.57%             | 2049-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                             | New Jersey Economic Development Authority, Series 2019 B                                                               | CUSIP: 645780FM4<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   7500000 | PA      | $6535588.50   | 0.75%             | 2039-10-01      | Variable      | 2.05%                 | No            |                  2 | On Loan: No      |
| Vancouver Housing Authority                                                           | Vancouver Housing Authority, Series 2024 B                                                                             | CUSIP: 92162PAD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1055000 | PA      | $1076825.42   | 0.12%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                             | Indiana Finance Authority, Series 2025 B                                                                               | CUSIP: 45506ENA7<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    875000 | PA      | $911378.48    | 0.10%             | 2031-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fort Carson Family Housing LLC                                                        | Fort Carson Family Housing LLC, Series 1999                                                                            | CUSIP: 347075AB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4460000 | PA      | $4738883.80   | 0.54%             | 2029-11-15      | Fixed         | 7.86%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL                                                                    | City of Chicago, Series 2020 A                                                                                         | CUSIP: 167486G29<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   3100000 | PA      | $3191097.22   | 0.36%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                            | Illinois Finance Authority, Series 2024                                                                                | CUSIP: 45204FXL4<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    400000 | PA      | $414848.44    | 0.05%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Tennessee                                                                    | State of Tennessee, Series 2023 A                                                                                      | CUSIP: 880541H59<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6670000 | PA      | $7410522.74   | 0.85%             | 2031-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina State University at Raleigh                                            | North Carolina State University at Raleigh, Series 2018                                                                | CUSIP: 658289G23<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3085453.20   | 0.35%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                                   | Wisconsin Health & Educational Facilities Authority, Series 2024 A                                                     | CUSIP: 97712JKF9<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5271488.50   | 0.60%             | 2029-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Hawaii                                                                  | University of Hawaii, Series 2020 D                                                                                    | CUSIP: 91428LNW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1725000 | PA      | $1735441.94   | 0.20%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                       | California Community Choice Financing Authority, Series 2021 B-1                                                       | CUSIP: 13013JAB2<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    850000 | PA      | $852738.87    | 0.10%             | 2026-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                                 | Pennsylvania Economic Development Financing Authority, Series 2021 B                                                   | CUSIP: 708692BU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3845208.40   | 0.44%             | 2031-06-01      | Variable      | 1.10%                 | No            |                  2 | On Loan: No      |
| Crystal Cay Community Development District                                            | Crystal Cay Community Development District, Series 2021                                                                | CUSIP: 229092AB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $301830.52    | 0.03%             | 2031-05-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                        | Black Belt Energy Gas District, Series 2021 B                                                                          | CUSIP: 09182TAF4<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4990028.00   | 0.57%             | 2052-10-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Allentown Neighborhood Improvement Zone Development Authority                         | Allentown Neighborhood Improvement Zone Development Authority, Series 2022                                             | CUSIP: 018444BN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $503714.55    | 0.06%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                               | South Carolina Public Service Authority, Series 2024 A                                                                 | CUSIP: 8371513L1<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    525000 | PA      | $549955.51    | 0.06%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rhodine Road North Community Development District                                     | Rhodine Road North Community Development District, Series 2022                                                         | CUSIP: 762402AF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    195000 | PA      | $183370.79    | 0.02%             | 2032-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| City of Farmington NM                                                                 | City of Farmington, Series 2010 D                                                                                      | CUSIP: 311450GC8<br>LEI: 5493000GWMTI2L4AZA61 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4030354.40   | 0.46%             | 2040-06-01      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| Ohio Air Quality Development Authority                                                | Ohio Air Quality Development Authority, Series 2014 D                                                                  | CUSIP: 677525WY9<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3477225.85   | 0.40%             | 2026-05-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| City of Pflugerville TX                                                               | City of Pflugerville, Series 2025                                                                                      | CUSIP: 717088CP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1685000 | PA      | $1723309.32   | 0.20%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Eastern Kentucky University                                                           | Eastern Kentucky University, Series 2021 A                                                                             | CUSIP: 276552GV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1305000 | PA      | $1330187.15   | 0.15%             | 2028-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Horace ND                                                                     | City of Horace, Series 2024 B                                                                                          | CUSIP: 440365JC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1751156.40   | 0.20%             | 2026-08-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power                                               | Los Angeles Department of Water & Power, Series 2002 A-3                                                               | CUSIP: 544495DV3<br>LEI: 549300S8NXV6YU61GG95 | Long             | STIV             | MUN               | US        |   2500000 | PA      | $2500000.00   | 0.29%             | 2035-07-01      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| Private Colleges & Universities Authority                                             | Private Colleges & Universities Authority, Series 2021                                                                 | CUSIP: 74265LW38<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $427290.71    | 0.05%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Town of Chestertown MD                                                                | Town of Chestertown, Series 2021 A                                                                                     | CUSIP: 166630AE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1035000 | PA      | $1040364.41   | 0.12%             | 2026-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Missouri Development Finance Board                                                    | Missouri Development Finance Board, Series 2021                                                                        | CUSIP: 60636SHL1<br>LEI: 549300JD8BCNBV9D3830 | Long             | DBT              | MUN               | US        |    405000 | PA      | $407158.45    | 0.05%             | 2026-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southern Ute Indian Tribe of the Southern Ute Reservation of Colorado                 | Southern Ute Indian Tribe of the Southern Ute Reservation of Colorado, Series 2025 A                                   | CUSIP: 844090AD2<br>LEI: 549300X0RZRBWLO0J697 | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2899236.73   | 0.33%             | 2035-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Hamilton OH                                                                 | County of Hamilton, Series 2021 B                                                                                      | CUSIP: 4072722B8<br>LEI: 549300TO1E3N4E4YIO28 | Long             | STIV             | MUN               | US        |   2200000 | PA      | $2200000.00   | 0.25%             | 2051-08-15      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| Scottsdale Municipal Property Corp.                                                   | Scottsdale Municipal Property Corp., Series 2015                                                                       | CUSIP: 810489RQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2325000 | PA      | $2328465.41   | 0.27%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Morris NJ                                                                   | County of Morris, Series 2021                                                                                          | CUSIP: 618024BP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4215000 | PA      | $4169792.44   | 0.48%             | 2026-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities & Community Development Authority | Louisiana Local Government Environmental Facilities & Community Development Authority, Series 2023, Class A-1          | CUSIP: 54627RAR1<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1508569 | PA      | $1519154.09   | 0.17%             | 2031-06-01      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                           | Washington State Housing Finance Commission, Series 2025 A                                                             | CUSIP: 93978LJC1<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1071676.10   | 0.12%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Crawford County Memorial Hospital, Inc.                                               | Crawford County Memorial Hospital, Inc., Series 2024                                                                   | CUSIP: 224832BA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2020560.00   | 0.23%             | 2027-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                         | Main Street Natural Gas, Inc., Series 2022 C                                                                           | CUSIP: 56035DDP4<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |  15000000 | PA      | $14911431.00  | 1.70%             | 2052-08-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Michigan Strategic Fund                                                               | Michigan Strategic Fund, Series 2005                                                                                   | CUSIP: 594698EH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5915000 | PA      | $5549119.39   | 0.63%             | 2035-04-01      | Variable      | 0.88%                 | No            |                  2 | On Loan: No      |
| Energy Southeast A Cooperative District                                               | Energy Southeast A Cooperative District, Series 2023 B-1                                                               | CUSIP: 292723AY9<br>LEI: 2549001SMMZ81MXBXZ89 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3793368.60   | 0.43%             | 2054-04-01      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| Leomas Landing Community Development District                                         | Leomas Landing Community Development District, Series 2021                                                             | CUSIP: 526400AB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $99093.48     | 0.01%             | 2031-05-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Ohio Housing Finance Agency                                                           | Ohio Housing Finance Agency, Series 2023 B                                                                             | CUSIP: 676900WK5<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3007022.10   | 0.34%             | 2026-03-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Kaufman County Fresh Water Supply District No. 1-D                                    | Kaufman County Fresh Water Supply District No. 1-D, Series 2024                                                        | CUSIP: 48618TBR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    470000 | PA      | $495455.62    | 0.06%             | 2033-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Eden Hills Community Development District                                             | Eden Hills Community Development District, Series 2020                                                                 | CUSIP: 279449AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $107418.91    | 0.01%             | 2030-05-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                                           | Virginia Small Business Financing Authority, Series 2022                                                               | CUSIP: 928104NE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $180969.95    | 0.02%             | 2029-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                                 | Pennsylvania Economic Development Financing Authority, Series 2017 A                                                   | CUSIP: 70870JAN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1230000 | PA      | $1274856.38   | 0.15%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                       | California Community Choice Financing Authority, Series 2021 B-1                                                       | CUSIP: 13013JAA4<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    535000 | PA      | $535322.87    | 0.06%             | 2025-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                           | Washington State Housing Finance Commission, Series 2025 A                                                             | CUSIP: 93978LJA5<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    500000 | PA      | $533093.40    | 0.06%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Health & Educational Facilities Authority of the State of Missouri                    | Health & Educational Facilities Authority of the State of Missouri, Series 2014 F                                      | CUSIP: 60637AFM9<br>LEI: 549300IWTBCMX5JB3277 | Long             | STIV             | MUN               | US        |  12800000 | PA      | $12800000.00  | 1.46%             | 2044-06-01      | Variable      | 3.05%                 | No            |                  2 | On Loan: No      |
| Pine Isle Community Development District                                              | Pine Isle Community Development District, Series 2021                                                                  | CUSIP: 72265AAB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $219536.40    | 0.03%             | 2031-12-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| City of Horace ND                                                                     | City of Horace, Series 2024 C                                                                                          | CUSIP: 440365JD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    385000 | PA      | $390140.40    | 0.04%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Municipal Gas Agency                                                        | Minnesota Municipal Gas Agency, Series 2022 B                                                                          | CUSIP: 60406UAN7<br>LEI: 549300SISI6N1C6S3136 | Long             | DBT              | MUN               | US        |   8000000 | PA      | $7981286.40   | 0.91%             | 2052-12-01      | Floating      | 3.90%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                               | South Carolina Public Service Authority, Series 2024 A                                                                 | CUSIP: 8371513N7<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    550000 | PA      | $592017.42    | 0.07%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lafayette Consolidated Government                                                     | Lafayette Consolidated Government, Series 2015                                                                         | CUSIP: 50646PCG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2418469.20   | 0.28%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Cook IL Sales Tax Revenue                                                   | County of Cook, Series 2024                                                                                            | CUSIP: 213248EC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1074928.70   | 0.12%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                           | Washington State Housing Finance Commission, Series 2025 A                                                             | CUSIP: 93978LJB3<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    750000 | PA      | $801522.08    | 0.09%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Long Beach Bond Finance Authority                                                     | Long Beach Bond Finance Authority, Series 2007 B                                                                       | CUSIP: 54241ABC6<br>LEI: 549300BKBZ5U7OZH3S21 | Long             | DBT              | MUN               | US        |   6125000 | PA      | $6194744.15   | 0.71%             | 2027-11-15      | Floating      | 4.52%                 | No            |                  2 | On Loan: No      |
| County of Atlantic NJ                                                                 | County of Atlantic, Series 2020                                                                                        | CUSIP: 048483K91<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1800000.00   | 0.21%             | 2025-06-01      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                      | California Health Facilities Financing Authority, Series 2016 B-3                                                      | CUSIP: 13032UGP7<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |  13340000 | PA      | $13252221.47  | 1.51%             | 2036-10-01      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| City of Detroit MI                                                                    | City of Detroit, Series 2018                                                                                           | CUSIP: 2510933M0<br>LEI: 549300BQRJP7MKKHOY28 | Long             | DBT              | MUN               | US        |    950000 | PA      | $974891.90    | 0.11%             | 2033-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Capital Facilities Finance Agency                                      | North Carolina Capital Facilities Finance Agency, Series 2021 A                                                        | CUSIP: 65818PNU9<br>LEI: 549300PWNPSB7G58A235 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003107.70   | 0.11%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tennergy Corp.                                                                        | Tennergy Corp., Series 2022 A                                                                                          | CUSIP: 880397CF9<br>LEI: 5493008K3JJFBSC4C235 | Long             | DBT              | MUN               | US        |   8010000 | PA      | $8399364.50   | 0.96%             | 2053-10-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Westside 211 Special Improvement District                                             | Westside 211 Special Improvement District, Series 2021                                                                 | CUSIP: 96145JAD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    265000 | PA      | $263389.17    | 0.03%             | 2025-08-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                     | State of Illinois, Series 2019 B                                                                                       | CUSIP: 4521525K3<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    375000 | PA      | $396003.64    | 0.05%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Detroit MI                                                                    | City of Detroit, Series 2018                                                                                           | CUSIP: 2510933S7<br>LEI: 549300BQRJP7MKKHOY28 | Long             | DBT              | MUN               | US        |   1110000 | PA      | $1122287.37   | 0.13%             | 2038-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Town of Chestertown MD                                                                | Town of Chestertown, Series 2021 A                                                                                     | CUSIP: 166630AF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1215000 | PA      | $1236292.63   | 0.14%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lakewood Ranch Stewardship District                                                   | Lakewood Ranch Stewardship District, Series 2024                                                                       | CUSIP: 51265KFR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $131001.14    | 0.01%             | 2031-05-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Austin Housing Finance Corp.                                                          | Austin Housing Finance Corp., Series 2024                                                                              | CUSIP: 052425HY4<br>LEI: 549300UBTYKESVNBXV64 | Long             | DBT              | MUN               | US        |   8500000 | PA      | $8541387.35   | 0.98%             | 2042-11-01      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                     | State of Illinois, Series 2018 B                                                                                       | CUSIP: 4521523D1<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    625000 | PA      | $649686.25    | 0.07%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Horace ND                                                                     | City of Horace, Series 2024 C                                                                                          | CUSIP: 440365JF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $492253.81    | 0.06%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| River Hall Community Development District                                             | River Hall Community Development District, Series 2021 A-1                                                             | CUSIP: 768247AM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $217537.30    | 0.02%             | 2026-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Villamar Community Development District                                               | Villamar Community Development District, Series 2020                                                                   | CUSIP: 92715KAF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $233309.95    | 0.03%             | 2030-05-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Leon County Housing Finance Authority                                                 | Leon County Housing Finance Authority, Series 2022 A-2                                                                 | CUSIP: 52643TAF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2383128.00   | 0.27%             | 2057-05-01      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                                   | Wisconsin Health & Educational Facilities Authority, Series 2021                                                       | CUSIP: 97712JDY6<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    360000 | PA      | $358297.42    | 0.04%             | 2027-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia Housing Finance Agency                                           | District of Columbia Housing Finance Agency, Series 2024 A-2                                                           | CUSIP: 254768YN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6335000 | PA      | $6464297.98   | 0.74%             | 2046-09-01      | Variable      | 4.10%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                                 | Louisiana Public Facilities Authority, Series 2021                                                                     | CUSIP: 546399LA2<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    250000 | PA      | $251008.13    | 0.03%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Energy Research & Development Authority                                | New York State Energy Research & Development Authority, Series 1994 D                                                  | CUSIP: 649845HD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2957538.90   | 0.34%             | 2029-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Jersey City Municipal Utilities Authority                                             | Jersey City Municipal Utilities Authority, Series 2025 A                                                               | CUSIP: 476624DQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1015786.80   | 0.12%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Housing Finance Agency                                                     | California Housing Finance Agency, Series 2024 L                                                                       | CUSIP: 13034DAG9<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1016379.20   | 0.12%             | 2027-12-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Industrial Tourist Educational Medical & Envirml Ctl Facs Fing Auth       | Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority, Series 2021 | CUSIP: 74527EFF0<br>LEI: 549300YJRISCG6HQ4512 | Long             | DBT              | MUN               | PR        |    195000 | PA      | $195170.57    | 0.02%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Town of Trophy Club TX Public Improvement District No. 1                              | Town of Trophy Club, Series 2025                                                                                       | CUSIP: 89706PAV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    590000 | PA      | $608930.98    | 0.07%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ohio Housing Finance Agency                                                           | Ohio Housing Finance Agency, Series 2025                                                                               | CUSIP: 676900XP3<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1206745.92   | 0.14%             | 2047-11-01      | Variable      | 3.70%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                                         | Main Street Natural Gas, Inc., Series 2021 A                                                                           | CUSIP: 56035DDH2<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3249239.18   | 0.37%             | 2052-07-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                            | Illinois Finance Authority, Series 2021 A                                                                              | CUSIP: 45204FMW2<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1095561 | PA      | $317712.70    | 0.04%             | 2027-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Washoe NV                                                                   | County of Washoe, Series 2016 F                                                                                        | CUSIP: 940865BH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3575000 | PA      | $3571721.01   | 0.41%             | 2036-03-01      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                                   | Wisconsin Health & Educational Facilities Authority, Series 2021                                                       | CUSIP: 97712JDX8<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    345000 | PA      | $344135.43    | 0.04%             | 2026-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Celina TX                                                                     | City of Celina, Series 2024                                                                                            | CUSIP: 15114CJV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    190000 | PA      | $188435.20    | 0.02%             | 2031-09-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| County of Suffolk NY                                                                  | County of Suffolk, Series 2018 B                                                                                       | CUSIP: 86476PYE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4205000 | PA      | $4260532.49   | 0.49%             | 2028-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State Health & Educational Facilities Authority                           | Connecticut State Health & Educational Facilities Authority, Series M                                                  | CUSIP: 20775DNV0<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    170000 | PA      | $170120.80    | 0.02%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Oregon Housing & Community Services Department                               | State of Oregon Housing & Community Services Department, Series 2024 R                                                 | CUSIP: 68608ENL2<br>LEI: 549300N3PYWYJ0Z8N757 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5046204.00   | 0.58%             | 2048-01-10      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                             | Maryland Health & Higher Educational Facilities Authority, Series 2020 B-2                                             | CUSIP: 57421CAU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5110000 | PA      | $5220270.73   | 0.60%             | 2045-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Jersey City Redevelopment Agency                                                      | Jersey City Redevelopment Agency, Series 2024 A                                                                        | CUSIP: 476637AZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3518459.35   | 0.40%             | 2025-12-11      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Industrial Tourist Educational Medical & Envirml Ctl Facs Fing Auth       | Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority, Series 2021 | CUSIP: 74527EFH6<br>LEI: 549300YJRISCG6HQ4512 | Long             | DBT              | MUN               | PR        |    450000 | PA      | $460772.69    | 0.05%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                              | Public Finance Authority, Series 2023-1, Class B-1                                                                     | CUSIP: 74448AAA0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2535000 | PA      | $2607494.41   | 0.30%             | 2034-07-25      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| City of Atlanta GA Department of Aviation                                             | City of Atlanta, Series 2024 A-1                                                                                       | CUSIP: 04780MS59<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $550819.78    | 0.06%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Preserve at South Branch Community Development District                               | Preserve at South Branch Community Development District, Series 2021                                                   | CUSIP: 74082PAK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $335680.38    | 0.04%             | 2031-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Development Authority of Monroe County (The)                                          | Development Authority of Monroe County (The), Series 2006                                                              | CUSIP: 610530FX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3510271.45   | 0.40%             | 2041-12-01      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| City of Moline IL                                                                     | City of Moline, Series 2021 C                                                                                          | CUSIP: 608557B37<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    925000 | PA      | $911356.25    | 0.10%             | 2025-12-01      | Fixed         | 1.44%                 | No            |                  2 | On Loan: No      |
| Mississippi Business Finance Corp.                                                    | Mississippi Business Finance Corp., Series 2004                                                                        | CUSIP: 60527MAQ2<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2402851.75   | 0.27%             | 2029-03-01      | Variable      | 0.70%                 | No            |                  2 | On Loan: No      |
| Vancouver Housing Authority                                                           | Vancouver Housing Authority, Series 2024 A                                                                             | CUSIP: 92162PAG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1655000 | PA      | $1666085.19   | 0.19%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Farmington NM                                                                 | City of Farmington, Series 2010 C                                                                                      | CUSIP: 311450GE4<br>LEI: 5493000GWMTI2L4AZA61 | Long             | DBT              | MUN               | US        |  11000000 | PA      | $11029258.90  | 1.26%             | 2040-06-01      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                                  | Triborough Bridge & Tunnel Authority, Series 2025 B-1                                                                  | CUSIP: 89602HJA6<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3624699.75   | 0.41%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Des Moines Independent Community School District                                      | Des Moines Independent Community School District, Series 2018                                                          | CUSIP: 250111DF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9300000 | PA      | $9233193.45   | 1.05%             | 2029-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois Sales Tax Revenue                                                   | State of Illinois, Series 2021 C                                                                                       | CUSIP: 452227RZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2001325.60   | 0.23%             | 2025-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ohio Air Quality Development Authority                                                | Ohio Air Quality Development Authority, Series 2022 A                                                                  | CUSIP: 677525WV5<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   7500000 | PA      | $7558689.75   | 0.86%             | 2039-11-01      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority                                          | New York City Transitional Finance Authority, Series 2025 F-1                                                          | CUSIP: 64972JQA9<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2242381.80   | 0.26%             | 2033-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                              | Public Finance Authority, Series 2021 A                                                                                | CUSIP: 74444VBF6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    285000 | PA      | $284775.19    | 0.03%             | 2025-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tennessee Energy Acquisition Corp.                                                    | Tennessee Energy Acquisition Corp., Series 2023 A-1                                                                    | CUSIP: 880443JF4<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |  14560000 | PA      | $14911785.62  | 1.70%             | 2053-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Development Authority of Burke County (The)                                           | Development Authority of Burke County (The), Series 5th 1994                                                           | CUSIP: 121342QM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1762837.13   | 0.20%             | 2032-10-01      | Variable      | 3.70%                 | No            |                  2 | On Loan: No      |
| City of Grand Forks ND                                                                | City of Grand Forks, Series 2021                                                                                       | CUSIP: 38546WCZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1680000 | PA      | $1742565.72   | 0.20%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Jefferson AL Sewer Revenue                                                  | County of Jefferson, Series 2024                                                                                       | CUSIP: 472682ZC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2727053.00   | 0.31%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Farmington NM                                                                 | City of Farmington, Series 2010 A                                                                                      | CUSIP: 311450FX3<br>LEI: 5493000GWMTI2L4AZA61 | Long             | DBT              | MUN               | US        |   4250000 | PA      | $4077339.08   | 0.47%             | 2040-06-01      | Variable      | 0.88%                 | No            |                  2 | On Loan: No      |
| Industrial Development Board of the City of Mobile Alabama                            | Industrial Development Board of the City of Mobile Alabama, Series 2007 A                                              | CUSIP: 607167DZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3992320.00   | 0.46%             | 2034-06-01      | Variable      | 1.00%                 | No            |                  2 | On Loan: No      |
| Health & Educational Facilities Authority of the State of Missouri                    | Health & Educational Facilities Authority of the State of Missouri, Series 2000 C                                      | CUSIP: 606901WT9<br>LEI: 549300IWTBCMX5JB3277 | Long             | STIV             | MUN               | US        |   4500000 | PA      | $4500000.00   | 0.51%             | 2040-03-01      | Variable      | 2.80%                 | No            |                  2 | On Loan: No      |
| Celebration Community Development District                                            | Celebration Community Development District, Series 2021                                                                | CUSIP: 151001ED2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $223515.31    | 0.03%             | 2031-05-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                            | Illinois Finance Authority, Series 2024                                                                                | CUSIP: 45204FXJ9<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    340000 | PA      | $344091.19    | 0.04%             | 2026-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                                 | Louisiana Public Facilities Authority, Series 2025 B                                                                   | CUSIP: 546399UQ7<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4273854.80   | 0.49%             | 2030-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                        | New Jersey Transportation Trust Fund Authority, Series 2006 C                                                          | CUSIP: 646136TM3<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |  11110000 | PA      | $10235065.28  | 1.17%             | 2027-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Kingman Gate Community Development District                                           | Kingman Gate Community Development District, Series 2021                                                               | CUSIP: 495742AF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $240862.03    | 0.03%             | 2031-06-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                     | State of Illinois, Series 2018 A                                                                                       | CUSIP: 4521522M2<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    375000 | PA      | $391287.75    | 0.04%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Park District                                                                 | Chicago Park District, Series 2020 F-2                                                                                 | CUSIP: 167615F40<br>LEI: 549300DNSTZGBZLIU409 | Long             | DBT              | MUN               | US        |    550000 | PA      | $565713.01    | 0.06%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Newark NJ                                                                     | City of Newark, Series 2025 B                                                                                          | CUSIP: 650367TD7<br>LEI: 5493008RBPM01QHRYX34 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4037263.20   | 0.46%             | 2026-05-07      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                             | New Jersey Economic Development Authority, Series 2019                                                                 | CUSIP: 64577B6L3<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6285885.60   | 0.72%             | 2027-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                             | New Jersey Economic Development Authority, Series 2022 A                                                               | CUSIP: 64577XDK9<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007530.10   | 0.12%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Denver City & County School District No. 1                                            | Denver City & County School District No. 1, Series 2025 A                                                              | CUSIP: 249174ZE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3256294.80   | 0.37%             | 2044-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Patriots Energy Group Financing Agency                                                | Patriots Energy Group Financing Agency, Series 2023 A-1                                                                | CUSIP: 70342PAN4<br>LEI: 5493008X0DFBVFH4HL19 | Long             | DBT              | MUN               | US        |   3535000 | PA      | $3723230.62   | 0.43%             | 2054-10-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| New Mexico Mortgage Finance Authority                                                 | New Mexico Mortgage Finance Authority, Series 2023                                                                     | CUSIP: 64719HEP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4100000 | PA      | $4101127.09   | 0.47%             | 2042-02-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Columbus Metropolitan Housing Authority                                               | Columbus Metropolitan Housing Authority, Series 2024                                                                   | CUSIP: 199518AQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2032389.20   | 0.23%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Iowa Finance Authority                                                                | Iowa Finance Authority, Series 2021 B                                                                                  | CUSIP: 46247SBP8<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1451467.80   | 0.17%             | 2056-05-15      | Floating      | 3.58%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                                  | Colorado Health Facilities Authority, Series 2020 A                                                                    | CUSIP: 19648FPT5<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | STIV             | MUN               | US        |    200000 | PA      | $200000.00    | 0.02%             | 2052-12-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Regional Transportation District                                                      | Regional Transportation District, Series 2020 A                                                                        | CUSIP: 759151AX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1165000 | PA      | $1166673.41   | 0.13%             | 2025-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kaufman County Fresh Water Supply District No. 1-D                                    | Kaufman County Fresh Water Supply District No. 1-D, Series 2021                                                        | CUSIP: 48618TAQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $143816.35    | 0.02%             | 2025-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL                                                                    | City of Chicago, Series 2024 B                                                                                         | CUSIP: 167486T66<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   3220000 | PA      | $3377590.02   | 0.39%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                        | Black Belt Energy Gas District, Series 2023 D-3                                                                        | CUSIP: 09182TCT2<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5098433.50   | 0.58%             | 2049-06-01      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| County of Cook IL Sales Tax Revenue                                                   | County of Cook, Series 2021 A                                                                                          | CUSIP: 213248CD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    845000 | PA      | $908314.75    | 0.10%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                               | South Carolina Public Service Authority, Series 2024 A                                                                 | CUSIP: 8371513K3<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    675000 | PA      | $694540.44    | 0.08%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Franklin Municipal Green Bond ETF                                                     | Franklin Municipal Green Bond ETF                                                                                      | CUSIP: 35473P850<br>LEI: 549300D0VIUWD9JJ6J30 | Long             |  | RF                | US        |   1160000 | NS      | $26651116.00  | 3.04%             |  |  |  | No            |                  1 | On Loan: No      |
| New York State Housing Finance Agency                                                 | New York State Housing Finance Agency, Series 2022 A-2                                                                 | CUSIP: 64987JSF9<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   2825000 | PA      | $2766460.92   | 0.32%             | 2060-11-01      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                       | California Community Choice Financing Authority, Series 2021 B-1                                                       | CUSIP: 13013JAC0<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    325000 | PA      | $327142.43    | 0.04%             | 2026-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Vancouver Housing Authority                                                           | Vancouver Housing Authority, Series 2024 A                                                                             | CUSIP: 92162PAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1460000 | PA      | $1490203.90   | 0.17%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Higher Education Facilities Authority                                       | Minnesota Higher Education Facilities Authority, Series 2019                                                           | CUSIP: 60416JBR0<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1043133.90   | 0.12%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Energy Research & Development Authority                                | New York State Energy Research & Development Authority, Series 1997 A                                                  | CUSIP: 649845HE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $9991400.00   | 1.14%             | 2032-08-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Keys Edge Community Development District                                              | Keys Edge Community Development District, Series 2024                                                                  | CUSIP: 49333FAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    405000 | PA      | $403045.67    | 0.05%             | 2031-05-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Kaufman County Fresh Water Supply District No. 1-D                                    | Kaufman County Fresh Water Supply District No. 1-D, Series 2021                                                        | CUSIP: 48618TAR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $144272.93    | 0.02%             | 2026-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Lehigh County Industrial Development Authority                                        | Lehigh County Industrial Development Authority, Series 2016 B                                                          | CUSIP: 524808BZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4948471.00   | 0.56%             | 2027-02-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| City of Horace ND                                                                     | City of Horace, Series 2024 C                                                                                          | CUSIP: 440365JE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $410991.48    | 0.05%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Housing Finance Agency                                                 | New York State Housing Finance Agency, Series 2025 A-2                                                                 | CUSIP: 64987J2X8<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4000700.00   | 0.46%             | 2064-11-01      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| Virgin Islands Transportation & Infrastructure Corp.                                  | Virgin Islands Transportation & Infrastructure Corp., Series 2025                                                      | CUSIP: 927686AC9<br>LEI: N/A                  | Long             | DBT              | MUN               | VI        |    640000 | PA      | $663060.80    | 0.08%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Iowa Higher Education Loan Authority                                                  | Iowa Higher Education Loan Authority, Series 2025                                                                      | CUSIP: 46247DBC0<br>LEI: 549300DWVTM3KRNR0M36 | Long             | DBT              | MUN               | US        |   2050000 | PA      | $2138715.19   | 0.24%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Housing Agency                                                   | California Community Housing Agency, Series 2021 A-2                                                                   | CUSIP: 13013FAS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2795000 | PA      | $2425884.19   | 0.28%             | 2043-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                                 | Metropolitan Transportation Authority, Series 2017 A-2                                                                 | CUSIP: 59261AMG9<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   3980000 | PA      | $4009805.82   | 0.46%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lee County Housing Finance Authority                                                  | Lee County Housing Finance Authority, Series 2023 B                                                                    | CUSIP: 52349HBE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3987362.80   | 0.46%             | 2028-07-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Tennessee Energy Acquisition Corp.                                                    | Tennessee Energy Acquisition Corp., Series 2021 A                                                                      | CUSIP: 88044TAD1<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |    350000 | PA      | $351899.14    | 0.04%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ohio Housing Finance Agency                                                           | Ohio Housing Finance Agency, Series 2023 B                                                                             | CUSIP: 676900WF6<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1701838.89   | 0.19%             | 2026-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Middleton Community Development District A                                            | Middleton Community Development District A, Series 2022                                                                | CUSIP: 596681AA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $202955.08    | 0.02%             | 2027-05-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| City of Atlanta GA Department of Aviation                                             | City of Atlanta, Series 2024 A-1                                                                                       | CUSIP: 04780MS83<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $228237.36    | 0.03%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Baytown Leased Housing Associates II LP                                               | Baytown Leased Housing Associates II LP, First Lien, Project CME Term Loan                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |  25110000 | PA      | $25139707.64  | 2.87%             | 2040-08-01      | Variable      | 6.58%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                  | Massachusetts Housing Finance Agency, Series 2022 C-3                                                                  | CUSIP: 57587GRC1<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10005042.00  | 1.14%             | 2026-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Lee County Industrial Development Authority/FL                                        | Lee County Industrial Development Authority, Series 2024 B-3                                                           | CUSIP: 52349EET3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3001833.90   | 0.34%             | 2029-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Storey Park Community Development District                                            | Storey Park Community Development District, Series 2021                                                                | CUSIP: 86216RAP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    170000 | PA      | $161778.77    | 0.02%             | 2031-06-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| State of Louisiana Gasoline & Fuels Tax Revenue                                       | State of Louisiana, Series 2022 A                                                                                      | CUSIP: 546475VU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2875000 | PA      | $2868234.26   | 0.33%             | 2043-05-01      | Floating      | 3.53%                 | No            |                  2 | On Loan: No      |
| University of Hawaii                                                                  | University of Hawaii, Series 2020 D                                                                                    | CUSIP: 91428LNX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4360000 | PA      | $4475543.49   | 0.51%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Oregon Housing & Community Services Department                               | State of Oregon Housing & Community Services Department, Series 2022 II-1                                              | CUSIP: 68608ENC2<br>LEI: 549300N3PYWYJ0Z8N757 | Long             | DBT              | MUN               | US        |   2270000 | PA      | $2281106.43   | 0.26%             | 2025-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| University of Hawaii                                                                  | University of Hawaii, Series 2020 B                                                                                    | CUSIP: 91428LNE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2865000 | PA      | $2940924.79   | 0.34%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                     | State of Illinois, Series 2010-4                                                                                       | CUSIP: 452152GC9<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    250000 | PA      | $250401.78    | 0.03%             | 2025-07-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Shingle Creek at Bronson Community Development District                               | Shingle Creek at Bronson Community Development District, Series 2021                                                   | CUSIP: 82459NAB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $480271.85    | 0.05%             | 2031-06-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Poitras East Community Development District                                           | Poitras East Community Development District, Series 2023                                                               | CUSIP: 73086BAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300478.71    | 0.03%             | 2028-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of New Orleans LA Sewerage Service Revenue                                       | City of New Orleans, Series 2020 B                                                                                     | CUSIP: 647719PF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $577429.77    | 0.07%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Reno County Unified School District No. 308 Hutchinson                                | Reno County Unified School District No. 308 Hutchinson, Series 2019                                                    | CUSIP: 759804GB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1575000 | PA      | $1640988.88   | 0.19%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virgin Islands Transportation & Infrastructure Corp.                                  | Virgin Islands Transportation & Infrastructure Corp., Series 2025                                                      | CUSIP: 927686AB1<br>LEI: N/A                  | Long             | DBT              | MUN               | VI        |    800000 | PA      | $815870.24    | 0.09%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                             | Indiana Finance Authority, Series 2025 B                                                                               | CUSIP: 45506ENB5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    920000 | PA      | $958948.75    | 0.11%             | 2032-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Special Care Facilities Financing Authority of the City of Pell City Alabama          | Special Care Facilities Financing Authority of the City of Pell City Alabama, Series 2021 A                            | CUSIP: 705888BW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1030000 | PA      | $1048153.54   | 0.12%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Jacksonville Transportation Authority                                                 | Jacksonville Transportation Authority, Series 2020                                                                     | CUSIP: 469494BA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1940000 | PA      | $1985901.18   | 0.23%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                             | Indiana Finance Authority, Series 2013 E                                                                               | CUSIP: 455054BN5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4981931.50   | 0.57%             | 2037-05-01      | Variable      | 3.55%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                              | Public Finance Authority, Series 2021 A                                                                                | CUSIP: 74444VBG4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    300000 | PA      | $299609.73    | 0.03%             | 2026-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| South Creek Community Development District                                            | South Creek Community Development District, Series 2021                                                                | CUSIP: 837512AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $164907.21    | 0.02%             | 2031-06-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Salem-Keizer School District No. 24J                                                  | Salem-Keizer School District No. 24J, Series 2018                                                                      | CUSIP: 569203MW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2001370.00   | 0.23%             | 2025-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Richland SC                                                                 | County of Richland, Series 2021                                                                                        | CUSIP: 76363RAB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $309730.66    | 0.04%             | 2026-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority                                          | New York City Transitional Finance Authority, Series 2025 D                                                            | CUSIP: 64972JMR6<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3058277.40   | 0.35%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of New Jersey                                                                   | State of New Jersey                                                                                                    | CUSIP: 646039UG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000000.00   | 0.23%             | 2025-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Youngstown State University                                                           | Youngstown State University, Series 2021                                                                               | CUSIP: 987720EW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    580000 | PA      | $583132.06    | 0.07%             | 2025-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                        | Black Belt Energy Gas District, Series 2023 B-2                                                                        | CUSIP: 09182NCT5<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10590963.00  | 1.21%             | 2053-12-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Philadelphia Gas Works Co.                                                            | Philadelphia Gas Works Co., Series 16th A                                                                              | CUSIP: 71783MBG9<br>LEI: 549300H8UJ7V5WU5IA90 | Long             | DBT              | MUN               | US        |    500000 | PA      | $501538.65    | 0.06%             | 2025-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New Orleans LA Sewerage Service Revenue                                       | City of New Orleans, Series 2020 B                                                                                     | CUSIP: 647719PD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $457766.69    | 0.05%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina State University at Raleigh                                            | North Carolina State University at Raleigh, Series 2018                                                                | CUSIP: 658289G31<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1575065.55   | 0.18%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                              | Public Finance Authority, Series 2021 A                                                                                | CUSIP: 74442EGM6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    150000 | PA      | $149102.79    | 0.02%             | 2026-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Town of Little Elm TX                                                                 | Town of Little Elm, Series 2021                                                                                        | CUSIP: 537098BN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    117000 | PA      | $113490.34    | 0.01%             | 2026-09-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                             | Indiana Finance Authority, Series 2025 B                                                                               | CUSIP: 45506END1<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1015000 | PA      | $1054782.11   | 0.12%             | 2034-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp.                                                    | New York Liberty Development Corp., Series 2021 A                                                                      | CUSIP: 649519DJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    780000 | PA      | $716547.31    | 0.08%             | 2027-11-15      | Fixed         | 0.95%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                                      | Kentucky Public Energy Authority, Series 2022 A-2                                                                      | CUSIP: 74440DDT8<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |  14125000 | PA      | $14053300.09  | 1.60%             | 2052-08-01      | Floating      | 4.10%                 | No            |                  2 | On Loan: No      |
| University of Hawaii                                                                  | University of Hawaii, Series 2020 B                                                                                    | CUSIP: 91428LND4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3440000 | PA      | $3460823.35   | 0.40%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                       | California Community Choice Financing Authority, Series 2023 C                                                         | CUSIP: 13013JCM6<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   4245000 | PA      | $4396630.98   | 0.50%             | 2054-01-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                        | Black Belt Energy Gas District, Series 2022 E                                                                          | CUSIP: 09182TBL0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4125569.20   | 0.47%             | 2053-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Detroit MI                                                                    | City of Detroit, Series 2018                                                                                           | CUSIP: 2510933R9<br>LEI: 549300BQRJP7MKKHOY28 | Long             | DBT              | MUN               | US        |   2280000 | PA      | $2314097.63   | 0.26%             | 2037-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| West Virginia Economic Development Authority                                          | West Virginia Economic Development Authority, Series 2010 A                                                            | CUSIP: 95648VBH1<br>LEI: 549300WW88TKKF5H1220 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $982760.70    | 0.11%             | 2038-12-01      | Variable      | 0.62%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                             | Indiana Finance Authority, Series 2023 A                                                                               | CUSIP: 45506EEJ8<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $995030.20    | 0.11%             | 2025-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                       | California Community Choice Financing Authority, Series 2021 B-1                                                       | CUSIP: 13013JAF3<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    375000 | PA      | $379302.75    | 0.04%             | 2028-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                             | Indiana Finance Authority, Series 2025 B                                                                               | CUSIP: 45506ENC3<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    965000 | PA      | $1006048.49   | 0.11%             | 2033-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Auburn School District No. 408 of King & Pierce Counties                              | Auburn School District No. 408 of King & Pierce Counties, Series 2018                                                  | CUSIP: 494619EH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1790030.47   | 0.20%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Pflugerville TX                                                               | City of Pflugerville, Series 2025                                                                                      | CUSIP: 717088CN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2985000 | PA      | $2995576.45   | 0.34%             | 2025-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-30

**Name of Applicant:** Franklin Tax Free Trust

**Signature:** Monica Krogh

**Name of Signer:** Monica Krogh

**Title:** Assistant Treasurer