# EDGAR Filing Document

**Accession Number:** 0001479026
**File Stem:** 0001752724-25-182427
**Filing Date:** 2025-7
**Character Count:** 63093
**Document Hash:** 5ac1c10fab379629587f90c9b43e86d6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-182427.hdr.sgml**: 20250729

**ACCESSION NUMBER**: 0001752724-25-182427

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250729

**DATE AS OF CHANGE**: 20250729

**PERIOD START**: 20250831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Goldman Sachs ETF Trust
- **CENTRAL INDEX KEY:** 0001479026

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23013
- **FILM NUMBER:** 251161025

**BUSINESS ADDRESS:**
- **STREET 1:** 200 WEST STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10282-2198
- **BUSINESS PHONE:** (312) 655-4400

**MAIL ADDRESS:**
- **STREET 1:** 200 WEST STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10282-2198

## Series and Classes Contracts Data

### Goldman Sachs Municipal Income ETF (Series ID: S000085814)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000251209 | Goldman Sachs Municipal Income ETF | GMUB            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Goldman Sachs ETF Trust

- **b. Investment Company Act file number:** 811-23013

- **c. CIK number of Registrant:** 0001479026

- **d. LEI of Registrant:** 549300VEZF7K2ES5WL82

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

  - **Street Address 1:** 200 West Street

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10282

  - **Telephone number:** 312-655-4400

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

- **a. Name of Series:** Goldman Sachs Municipal Income ETF

- **b. EDGAR series identifier (if any):** S000085814

- **c. LEI of Series:** 9845006FLE6FC66A9003

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

- **a. Date of fiscal year-end:** 2025-08-31

- **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:** $24185368.62

**Total Liabilities:** $1994440.88

**Net Assets:** $22190927.74

**Delayed Delivery Securities:** $668225.00

**Cash Not Reported:** $992965.49

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 10.44000000 | **1-Year:** 410.17000000 | **5-Year:** 1423.51000000 | **10-Year:** 4445.63000000 | **30-Year:** 2096.61000000

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

- **3-Month:** 9.34000000 | **1-Year:** 76.61000000 | **5-Year:** 367.53000000 | **10-Year:** 638.52000000 | **30-Year:** 299.47000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000251209 | -1.16%               | -0.51%               | 0.29%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $4733.33                 | $-165793.86                                |
| Month 2  | $-13596.67               | $-94876.81                                 |
| Month 3  | $-11536.45               | $-1233.68                                  |

**Designated Index Information**

- **Index Name:** Securities Only Portfolio

- **Index Identifier:** Securities Only Portfolio_PV105934

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US ULTRA BOND CBT                                                   | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        -1 | NC      | $-1080.36     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| ABERDEEN FL CDD SPL ASSMNT                  | Aberdeen Community Development District                             | CUSIP: 00301PAU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     55000 | PA      | $48783.74     | 0.22%             | 2036-05-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BROOKLYN ARENA NY LOCAL DEV CO              | Brooklyn Arena Local Development Corp                               | CUSIP: 113807BQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $72714.77     | 0.33%             | 2043-07-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HLTH & EDUCTNL FAC              | Health & Educational Facilities Authority of the State of Missouri  | CUSIP: 6069014P8<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |    525000 | PA      | $525000.00    | 2.37%             | 2035-10-01      | Variable      | 1.65%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL AVIATION RE              | County of Miami-Dade FL Aviation Revenue                            | CUSIP: 59333PR75<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $149755.58    | 0.67%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV              | Colorado Health Facilities Authority                                | CUSIP: 19648FPF5<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    150000 | PA      | $158431.52    | 0.71%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE               | Metropolitan Transportation Authority                               | CUSIP: 59261A2H9<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    100000 | PA      | $86180.41     | 0.39%             | 2048-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SEMINOLE CNTY FL SALES TAX REV              | County of Seminole FL Sales Tax Revenue                             | CUSIP: 816691EV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $118648.42    | 0.53%             | 2026-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FIRCREST PROPERTIES                         | Fircrest Properties                                                 | CUSIP: 318094AE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $111252.93    | 0.50%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST               | New Jersey Transportation Trust Fund Authority                      | CUSIP: 6461367Z8<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    100000 | PA      | $99027.56     | 0.45%             | 2035-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JACKSONVILLE PUBLIC EDUCTNL BL              | Jacksonville Public Educational Building Authority                  | CUSIP: 469480BT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $128260.23    | 0.58%             | 2044-08-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA HSG FIN AGY COLLATERA              | Oklahoma Housing Finance Agency                                     | CUSIP: 67886UAU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300287.07    | 1.35%             | 2028-07-01      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CITY & CNTY CA M              | City & County of San Francisco CA                                   | CUSIP: 79765PEG4<br>LEI: 549300RA28ZEFOB6M782 | Long             | DBT              | MUN               | US        |    125000 | PA      | $125058.91    | 0.56%             | 2029-08-01      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV              | Colorado Health Facilities Authority                                | CUSIP: 19648FJJ4<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |     95000 | PA      | $95767.35     | 0.43%             | 2049-08-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| ONONDAGA NY CIVIC DEV CORP                  | Onondaga Civic Development Corp                                     | CUSIP: 682832KV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $168405.03    | 0.76%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TURNPIKE AUTH TU              | New Jersey Turnpike Authority                                       | CUSIP: 646140JA2<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |    200000 | PA      | $209269.74    | 0.94%             | 2043-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BROWARD CNTY FL CONVENTION CTR              | County of Broward FL Convention Center Hotel Revenue                | CUSIP: 115012AP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $207674.56    | 0.94%             | 2040-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLIFTON TX HGR EDU FIN CORP ED              | Clifton Higher Education Finance Corp                               | CUSIP: 187145UC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $63357.94     | 0.29%             | 2039-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WAGONER CNTY OK DEV AUTH SALES              | Wagoner County Development Authority/OK                             | CUSIP: 93054CAF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100260.50    | 0.45%             | 2035-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SALEM VA ECON DEV AUTH EDUCTNL              | Salem Economic Development Authority                                | CUSIP: 794565BJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $198679.10    | 0.90%             | 2045-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AUSTIN TX AFFORDABLE PUBLIC FA              | Austin Affordable Pfc Inc                                           | CUSIP: 05217TAU8<br>LEI: 529900LKLIWOHOEBOF89 | Long             | DBT              | MUN               | US        |    100000 | PA      | $103814.28    | 0.47%             | 2028-09-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FL HLTH FACS AUTH               | Orange County Health Facilities Authority                           | CUSIP: 68450LHF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $105380.19    | 0.47%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET WASHINGTON DC ARPTS AUTH D              | Metropolitan Washington Airports Authority Dulles Toll Road Revenue | CUSIP: 592643CY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $99563.69     | 0.45%             | 2035-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY AL SWR REVENUE               | County of Jefferson AL Sewer Revenue                                | CUSIP: 472682ZM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $103960.03    | 0.47%             | 2042-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FREDERICK CNTY MD TAX INCR & S              | County of Frederick MD                                              | CUSIP: 355612AD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $131719.79    | 0.59%             | 2039-07-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR              | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue              | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $93955.56     | 0.42%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSION TX ECON DEV CORP SOL W              | Mission Economic Development Corp                                   | CUSIP: 605155BR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $249998.93    | 1.13%             | 2046-05-01      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                 | State of Illinois                                                   | CUSIP: 452152H61<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    135000 | PA      | $122213.14    | 0.55%             | 2041-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KARNES CNTY TX HOSP DIST HOSP               | Karnes County Hospital District                                     | CUSIP: 485722AQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $130070.80    | 0.59%             | 2044-02-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                 | State of Illinois                                                   | CUSIP: 452153KA6<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    135000 | PA      | $138856.21    | 0.63%             | 2043-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS IN LOCAL PUBLIC I              | Indianapolis Local Public Improvement Bond Bank                     | CUSIP: 45528VEC9<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |    100000 | PA      | $108076.20    | 0.49%             | 2030-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH NY BRIDGE & TUNNEL               | Triborough Bridge & Tunnel Authority                                | CUSIP: 89602HHY6<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |    100000 | PA      | $105299.33    | 0.47%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HILLSBOROUGH CNTY FL HSG FIN A              | Hillsborough County Housing Finance Authority                       | CUSIP: 43232EDB2<br>LEI: 5493003JJ1KK4FWWU787 | Long             | DBT              | MUN               | US        |    100000 | PA      | $99884.02     | 0.45%             | 2042-09-01      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A              | California Community Choice Financing Authority                     | CUSIP: 13013JFR2<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    215000 | PA      | $227630.52    | 1.03%             | 2055-02-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST HSG FIN AGY MF HSG REV              | Ohio Housing Finance Agency                                         | CUSIP: 676900XP3<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |    200000 | PA      | $201124.32    | 0.91%             | 2047-11-01      | Variable      | 3.70%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL WSTWTR TRANSMISSION              | City of Chicago IL Wastewater Transmission Revenue                  | CUSIP: 167727K54<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $163501.29    | 0.74%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KING CNTY WA SCH DIST #216 ENU              | King County School District No 216 Enumclaw                         | CUSIP: 495008SA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $223844.62    | 1.01%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH ST PERSO              | New York State Dormitory Authority                                  | CUSIP: 64990KGV9<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    150000 | PA      | $153710.55    | 0.69%             | 2048-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST               | New Jersey Transportation Trust Fund Authority                      | CUSIP: 64613CAD0<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    150000 | PA      | $137617.89    | 0.62%             | 2041-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH BROWARD FL HOSP DIST                  | South Broward Hospital District                                     | CUSIP: 836753LS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101674.07    | 0.46%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL                                  | City of Chicago IL                                                  | CUSIP: 167486S67<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    180000 | PA      | $177508.31    | 0.80%             | 2041-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MATAGORDA CNTY TX NAV DIST #1               | Matagorda County Navigation District No 1                           | CUSIP: 576528DV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $255361.58    | 1.15%             | 2030-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| TRADITION CDD #9 FL SPL ASSMNT              | Tradition Community Development District No 9                       | CUSIP: 89269NAF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $95644.72     | 0.43%             | 2045-05-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| LOWERY HILLS CDD FL SPL ASSMNT              | Lowery Hills Community Development District                         | CUSIP: 548652AA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $99847.46     | 0.45%             | 2032-05-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| BROOKLYN ARENA NY LOCAL DEV CO              | Brooklyn Arena Local Development Corp                               | CUSIP: 113807BF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $201118.16    | 0.91%             | 2029-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NUECES RIVER TX AUTH                        | Nueces River Authority                                              | CUSIP: 670500EY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100210.88    | 0.45%             | 2026-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP              | New York Transportation Development Corp                            | CUSIP: 650116CZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $173141.82    | 0.78%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ATHENS-CLARKE CNTY GA UNIF GOV              | Athens-Clarke County Unified Government Development Authority       | CUSIP: 047059KT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $84028.16     | 0.38%             | 2039-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST                             | Commonwealth of Pennsylvania                                        | CUSIP: 70914P4J8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $93887.66     | 0.42%             | 2044-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE              | South Carolina Jobs-Economic Development Authority                  | CUSIP: 83704HAD9<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    100000 | PA      | $103919.51    | 0.47%             | 2030-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GUNTER TX SPL ASSMNT REVENUE                | City of Gunter TX                                                   | CUSIP: 40314PAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $98692.29     | 0.44%             | 2032-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HAMMOCK OAKS CDD FL ASSMNT                  | Hammock Oaks Community Development District                         | CUSIP: 40834PAG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    170000 | PA      | $171096.87    | 0.77%             | 2032-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL               | Metropolitan Pier & Exposition Authority                            | CUSIP: 592250FV1<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |    100000 | PA      | $96059.90     | 0.43%             | 2053-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TROY NY CAPITAL RESOURCE CORP               | Troy Capital Resource Corp                                          | CUSIP: 897579BV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $103338.54    | 0.47%             | 2037-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV              | Colorado Health Facilities Authority                                | CUSIP: 19648FKQ6<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    100000 | PA      | $101633.95    | 0.46%             | 2038-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH REVENUE                | New Hampshire Business Finance Authority                            | CUSIP: 63607YBJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100035.25    | 0.45%             | 2048-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| S E ALABAMA ST GAS SPLY DIST G              | Southeast Alabama Gas Supply District/The                           | CUSIP: 84131TBT8<br>LEI: 549300BL04JIB2GJZ178 | Long             | DBT              | MUN               | US        |    125000 | PA      | $130723.85    | 0.59%             | 2049-06-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZATION CORP               | Sales Tax Securitization Corp                                       | CUSIP: 79467BEH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $152328.46    | 0.69%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRAILS AT CROWFOOT MET DIST #3              | Trails at Crowfoot Metropolitan District No 3                       | CUSIP: 89286RAH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $103569.21    | 0.47%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MATCHING FUND SPL PURPOSE SECU              | Matching Fund Special Purpose Securitization Corp                   | CUSIP: 57665NAD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101829.82    | 0.46%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI ST BUSINESS FIN CO              | Mississippi Business Finance Corp                                   | CUSIP: 60528ABK9<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |    515000 | PA      | $515000.00    | 2.32%             | 2030-12-01      | Variable      | 1.65%                 | No            |                  2 | On Loan: No      |
| NEVADA DEPT OF BUSINESS & INDU              | State of Nevada Department of Business & Industry                   | CUSIP: 641455AB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $95425.44     | 0.43%             | 2065-01-01      | Variable      | 9.50%                 | No            |                  2 | On Loan: No      |
| FOREST GROVE OR REVENUE                     | City of Forest Grove OR                                             | CUSIP: 345648EE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $178772.95    | 0.81%             | 2033-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT WTR & PWR               | Los Angeles Department of Water & Power                             | CUSIP: 5444956D1<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    100000 | PA      | $99034.86     | 0.45%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLUMBUS-FRANKLIN CNTY OH FIN               | Columbus-Franklin County Finance Authority                          | CUSIP: 19910XAJ5<br>LEI: 549300NX3ODQN2ETOO82 | Long             | DBT              | MUN               | US        |    100000 | PA      | $104214.41    | 0.47%             | 2028-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL MF HSG REVENUE                   | City of Chicago IL                                                  | CUSIP: 167570TW0<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    150000 | PA      | $149807.84    | 0.68%             | 2028-10-01      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                          | Commonwealth of Puerto Rico                                         | CUSIP: 74514L3K1<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    109000 | PA      | $104870.61    | 0.47%             | 2033-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU                       | Chicago Board of Education                                          | CUSIP: 167501VH5<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |     90000 | PA      | $71576.95     | 0.32%             | 2030-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DENVER CITY & CNTY CO ARPT REV              | City & County of Denver CO Airport System Revenue                   | CUSIP: 249182LV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $128707.53    | 0.58%             | 2043-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST               | New Jersey Transportation Trust Fund Authority                      | CUSIP: 646136WU1<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    335000 | PA      | $171035.22    | 0.77%             | 2039-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST INFRASTRUCTURE &              | California Infrastructure & Economic Development Bank               | CUSIP: 13035ADD8<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |    100000 | PA      | $105705.77    | 0.48%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP              | New York Transportation Development Corp                            | CUSIP: 650116EX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $89046.10     | 0.40%             | 2042-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AVENTURA ISLES CMNTY DEV DISTF              | Aventura Isles Community Development District                       | CUSIP: 05357GAE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $203600.80    | 0.92%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY INDL DEV AGY               | New York City Industrial Development Agency                         | CUSIP: 64971PLK9<br>LEI: 549300XR20ZR5DHL9534 | Long             | DBT              | MUN               | US        |    170000 | PA      | $122222.21    | 0.55%             | 2046-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ALABAMA ST HSG FIN AUTH SF MTG              | Alabama Housing Finance Authority                                   | CUSIP: 01030RLJ9<br>LEI: 549300VFN7EHPOFS7D76 | Long             | DBT              | MUN               | US        |    100000 | PA      | $97025.56     | 0.44%             | 2044-10-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| TRINITY RIVER TX AUTH REGL WST              | Trinity River Authority Central Regional Wastewater System Revenue  | CUSIP: 89658HZR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $104836.33    | 0.47%             | 2043-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SARASOTA CNTY FL PUBLIC HOSP D              | Sarasota County Public Hospital District                            | CUSIP: 803301DK3<br>LEI: 549300JY4SF4DU1YDF85 | Long             | DBT              | MUN               | US        |    100000 | PA      | $86231.73     | 0.39%             | 2048-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MONROE CNTY GA DEV AUTH POLL C              | Development Authority of Monroe County/The                          | CUSIP: 610530FY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    185000 | PA      | $185335.61    | 0.84%             | 2048-10-01      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV              | Colorado Health Facilities Authority                                | CUSIP: 19648FPT5<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 2.25%             | 2052-12-01      | Variable      | 2.20%                 | No            |                  2 | On Loan: No      |
| NORWOOD OH SPL OBLIG REVENUE                | City of Norwood OH                                                  | CUSIP: 669681AA6<br>LEI: 5493000KZUQ48Z2VEE89 | Long             | DBT              | MUN               | US        |    145000 | PA      | $144298.74    | 0.65%             | 2030-12-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| HAMPTON ROADS VA TRANSPRTN ACC              | Hampton Roads Transportation Accountability Commission              | CUSIP: 40934TAV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    255000 | PA      | $260593.48    | 1.17%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BURKE CNTY GA DEV AUTH POLL CO              | Development Authority of Burke County/The                           | CUSIP: 121342MW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.45%             | 2049-07-01      | Variable      | 2.20%                 | No            |                  2 | On Loan: No      |
| PEACE CREEK VLG CDD FL SPL ASS              | Peace Creek Village Community Development District                  | CUSIP: 70459CAD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $99788.54     | 0.45%             | 2032-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PORT OF PORTLAND OR ARPT REVEN              | Port of Portland OR Airport Revenue                                 | CUSIP: 7352402C6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $159310.88    | 0.72%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARTFORD CT SPL OBLIG                       | City of Hartford CT                                                 | CUSIP: 416464AN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $260175.65    | 1.17%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ERIE PA HGR EDU BLDG AUTH                   | City of Erie Higher Education Building Authority                    | CUSIP: 295435CR0<br>LEI: 549300JDMWBZICIGLV66 | Long             | DBT              | MUN               | US        |     25000 | PA      | $23083.88     | 0.10%             | 2036-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DENVER CO HLTH & HOSP AUTH HLT              | Denver Health & Hospital Authority                                  | CUSIP: 24918EEJ5<br>LEI: 549300WFV5S7GIR4OS67 | Long             | DBT              | MUN               | US        |    110000 | PA      | $99825.78     | 0.45%             | 2040-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PROVIDENCE RI PUBLIC BLDGS AUT              | Providence Public Building Authority                                | CUSIP: 74381MDJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $106225.43    | 0.48%             | 2041-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN               | New Hope Cultural Education Facilities Finance Corp                 | CUSIP: 64542UGV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $105365.42    | 0.47%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT WTR & PWR               | Los Angeles Department of Water & Power                             | CUSIP: 544495DY7<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 2.25%             | 2035-07-01      | Variable      | 3.05%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                  | Public Finance Authority                                            | CUSIP: 74442PK95<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    100000 | PA      | $101437.42    | 0.46%             | 2050-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| OHIO ST HGR EDUCTNL FAC COMMIS              | Ohio Higher Educational Facility Commission                         | CUSIP: 67756DS49<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |    100000 | PA      | $102480.79    | 0.46%             | 2040-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA              | Chicago O'Hare International Airport                                | CUSIP: 167593F31<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $136072.22    | 0.61%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING               | Pennsylvania Economic Development Financing Authority               | CUSIP: 70869PMF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $123632.46    | 0.56%             | 2039-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH COOPERAT              | Southeast Energy Authority A Cooperative District                   | CUSIP: 84136HBT9<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    200000 | PA      | $206508.82    | 0.93%             | 2055-03-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-SAINT PAUL MN MET               | Minneapolis-St Paul Metropolitan Airports Commission                | CUSIP: 603827Q25<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $103227.98    | 0.47%             | 2039-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT NEW ORLEANS LA BRD OF COM              | Port New Orleans Board of Commissioners                             | CUSIP: 734782ED3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101889.26    | 0.46%             | 2055-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DETROIT MI                                  | City of Detroit MI                                                  | CUSIP: 2510936C9<br>LEI: 549300BQRJP7MKKHOY28 | Long             | DBT              | MUN               | US        |    100000 | PA      | $110714.10    | 0.50%             | 2039-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CHANDLER AZ INDL DEV AUTH INDL              | Chandler Industrial Development Authority                           | CUSIP: 158862CB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101901.50    | 0.46%             | 2052-09-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI EDUCTNL FAC              | Public Finance Authority                                            | CUSIP: 74443DLU3<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100537.88    | 0.45%             | 2040-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GAINESVILLE FL UTILITIES SYS R              | City of Gainesville FL Utilities System Revenue                     | CUSIP: 362848RR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 2.25%             | 2042-10-01      | Variable      | 2.20%                 | No            |                  2 | On Loan: No      |
| ANDOVER NY CENTRL SCH DIST                  | Andover Central School District                                     | CUSIP: 034345DD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100057.06    | 0.45%             | 2025-06-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| LIBERTY COVE CDD FL SPL ASSMNT              | Liberty Cove Community Development District                         | CUSIP: 530430AA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     85000 | PA      | $84874.99     | 0.38%             | 2031-05-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL               | Black Belt Energy Gas District                                      | CUSIP: 09182NBR0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    150000 | PA      | $148344.36    | 0.67%             | 2051-06-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP                     | Florida Development Finance Corp                                    | CUSIP: 340618DZ7<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    250000 | PA      | $254562.83    | 1.15%             | 2057-07-01      | Variable      | 8.25%                 | No            |                  2 | On Loan: No      |
| SAUQUOIT VLY NY CENTRL SCH DIS              | Sauquoit Valley Central School District                             | CUSIP: 804515EW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100106.22    | 0.45%             | 2025-08-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| PHOENIX AZ CIVIC IMPT CORP ARP              | City of Phoenix Civic Improvement Corp                              | CUSIP: 71883MPT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $128359.84    | 0.58%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST TRANSPRTN COMMISSION               | Central Texas Turnpike System                                       | CUSIP: 88283KBQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $105265.46    | 0.47%             | 2042-08-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT ARPT REVENUE              | City of Salt Lake City UT Airport Revenue                           | CUSIP: 795576FV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100713.76    | 0.45%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST CONVENTION CENTE              | Washington State Convention Center Public Facilities District       | CUSIP: 93976ACR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100684.87    | 0.45%             | 2031-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL WTRWKS REVENUE                   | City of Chicago IL Waterworks Revenue                               | CUSIP: 167736F69<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $117925.12    | 0.53%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST HLTH FACS FING A              | California Health Facilities Financing Authority                    | CUSIP: 13032UN87<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |    100000 | PA      | $110143.43    | 0.50%             | 2061-11-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CELINA TX SPL ASSESSMENT REVEN              | City of Celina TX                                                   | CUSIP: 15114CHU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $105327.96    | 0.47%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT BUSINESS PRIVILEGE T              | Territory of Guam                                                   | CUSIP: 40065NCR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $88436.88     | 0.40%             | 2042-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUBLIC SVC A              | South Carolina Public Service Authority                             | CUSIP: 8371514U0<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    100000 | PA      | $90686.48     | 0.41%             | 2044-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| SPRINGFIELD IL ELEC REVENUE                 | City of Springfield IL Electric Revenue                             | CUSIP: 850578UA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $107591.02    | 0.48%             | 2030-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST EDUCTNL FACS AUT              | New Jersey Educational Facilities Authority                         | CUSIP: 646067KE7<br>LEI: 549300UTOO4X537XXG70 | Long             | DBT              | MUN               | US        |    200000 | PA      | $221292.34    | 1.00%             | 2064-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING               | Pennsylvania Economic Development Financing Authority               | CUSIP: 70870JGY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $105056.37    | 0.47%             | 2060-03-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR              | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue              | CUSIP: 74529JRJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $186561.28    | 0.84%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| MILWAUKEE WI                                | City of Milwaukee WI                                                | CUSIP: 602366WY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100631.77    | 0.45%             | 2028-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST FIN AUTH REVENUE                | Michigan Finance Authority                                          | CUSIP: 59447TW58<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    265000 | PA      | $243943.02    | 1.10%             | 2040-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF ARPTS A              | City of Los Angeles Department of Airports                          | CUSIP: 5444452K4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $106143.83    | 0.48%             | 2030-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CROSSINGS CDD FL SPL ASSMNT                 | Crossings Community Development District                            | CUSIP: 22766NAF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $95254.69     | 0.43%             | 2044-05-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TX HGR EDU FIN CORP               | Arlington Higher Education Finance Corp                             | CUSIP: 0418067A2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $104546.95    | 0.47%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOCORRO TX INDEP SCH DIST                   | Socorro Independent School District                                 | CUSIP: 833715DD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $125561.14    | 0.57%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PINELLAS CNTY FL SCH BRD COPS               | Pinellas County School Board                                        | CUSIP: 723203BL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $196453.15    | 0.89%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP EDUCTN              | Florida Development Finance Corp                                    | CUSIP: 34061UMU9<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    125000 | PA      | $125086.64    | 0.56%             | 2044-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH SP              | New Jersey Economic Development Authority                           | CUSIP: 64578CCF6<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    100000 | PA      | $95278.79     | 0.43%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZATION CORP               | Sales Tax Securitization Corp                                       | CUSIP: 79467BCR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100986.04    | 0.46%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WILL CNTY IL FOREST PRESERVE D              | Will County Forest Preserve District                                | CUSIP: 968661JN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $104214.69    | 0.47%             | 2042-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST INFRASTRUCTURE &              | California Infrastructure & Economic Development Bank               | CUSIP: 13034A6B1<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |    100000 | PA      | $96927.17     | 0.44%             | 2065-01-01      | Variable      | 9.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY MUNI WTR FIN               | New York City Municipal Water Finance Authority                     | CUSIP: 64972GCM4<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |    200000 | PA      | $200000.00    | 0.90%             | 2050-06-15      | Variable      | 2.20%                 | No            |                  2 | On Loan: No      |
| OSCEOLA CNTY FL TRANSPRTN REVE              | County of Osceola FL Transportation Revenue                         | CUSIP: 688031DZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $156997.72    | 0.71%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VOLUSIA CNTY FL EDUCTNL FAC AU              | Volusia County Educational Facility Authority                       | CUSIP: 928836PJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $210959.82    | 0.95%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT OF SEATTLE WA REVENUE                  | Port of Seattle WA                                                  | CUSIP: 7353892A5<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |    100000 | PA      | $105313.16    | 0.47%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                          | Commonwealth of Puerto Rico                                         | CUSIP: 74514L3P0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |     25000 | PA      | $20562.15     | 0.09%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COOK CNTY IL SALES TAX REVENUE              | County of Cook IL Sales Tax Revenue                                 | CUSIP: 213248ER4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $230686.74    | 1.04%             | 2042-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WHITING IN ENVRNMNTL FACS REVE              | City of Whiting IN                                                  | CUSIP: 96634RAU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100892.00    | 0.45%             | 2044-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR              | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue              | CUSIP: 74529JQH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     99000 | PA      | $23371.47     | 0.11%             | 2051-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| COATESVILLE PA AREA SCH DIST                | Coatesville School District                                         | CUSIP: 190684QY9<br>LEI: 549300FB4I8E5MPRFX97 | Long             | DBT              | MUN               | US        |    250000 | PA      | $260298.85    | 1.17%             | 2042-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR              | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue              | CUSIP: 74529JRR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    167000 | PA      | $159321.97    | 0.72%             | 2040-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR              | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue              | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $44944.80     | 0.20%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CLEVELAND OH ARPT SPL REVENUE               | City of Cleveland OH                                                | CUSIP: 186347AC4<br>LEI: 549300IQSLQPCVVMKJ96 | Long             | DBT              | MUN               | US        |    180000 | PA      | $180077.44    | 0.81%             | 2027-09-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA INDL DEV AU              | Montgomery County Industrial Development Authority/PA               | CUSIP: 61360PCJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101178.28    | 0.46%             | 2033-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-29

**Name of Applicant:** Goldman Sachs ETF Trust

**Signature:** Peter Fortner

**Name of Signer:** Peter Fortner

**Title:** Vice President Assistant Treasurer