# EDGAR Filing Document

**Accession Number:** 0000203142
**File Stem:** 0001752724-23-065412
**Filing Date:** 2023-3
**Character Count:** 113412
**Document Hash:** 7a11f94be1094ac29057702badb3faf0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-065412.hdr.sgml**: 20230324

**ACCESSION NUMBER**: 0001752724-23-065412

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230324

**DATE AS OF CHANGE**: 20230324

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DEUTSCHE DWS MUNICIPAL TRUST
- **CENTRAL INDEX KEY:** 0000203142
- **IRS NUMBER:** 046396607
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0531

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-02671
- **FILM NUMBER:** 23758826

**BUSINESS ADDRESS:**
- **STREET 1:** 875 THIRD AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022-6225
- **BUSINESS PHONE:** 212-454-4500

**MAIL ADDRESS:**
- **STREET 1:** 875 THIRD AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022-6225

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DEUTSCHE MUNICIPAL TRUST
- **DATE OF NAME CHANGE:** 20140811

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DWS MUNICIPAL TRUST
- **DATE OF NAME CHANGE:** 20060207

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SCUDDER MUNICIPAL TRUST
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### DWS Short-Term Municipal Bond Fund (Series ID: S000031144)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000096616 | Class A             | SRMAX           |
| C000096618 | Class C             | SRMCX           |
| C000096619 | Class S             | SRMSX           |
| C000096620 | Institutional Class | MGSMX           |

## Nport-Ex

Investment Portfolio**as of January 31, 2023 (Unaudited)** 

**DWS Short-Term Municipal Bond Fund** 

---

| | | |
|:---|:---|:---|
|  | **Principal** <br>**Amount ($)**<br>| **Value ($)** |
| **Municipal Investments 99.7%** | **Municipal Investments 99.7%** |  |
| **Alabama 4.6%** | **Alabama 4.6%** |  |
| Alabama, Black Belt Energy Gas District Prepay Revenue: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, 4.0%, Mandatory Put 12/1/2023 @ 100, 12/1/2048, GTY: Goldman Sachs <br> Group, Inc.<br>| 2200000 | 2206370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series D-1, 4.0%, Mandatory Put 6/1/2027 @ 100, 7/1/2052, GTY: Royal Bank of <br> Canada, LIQ: Royal Bank of Canada<br>| 665000 | 677393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B-1, 4.0%, Mandatory Put 10/1/2027 @ 100, 4/1/2053, GTY: Goldman Sachs <br> Group, Inc.<br>| 2885000 | 2886173 |
| &nbsp;&nbsp;&nbsp; Southeast Alabama, Energy Authority Commodity Supply Revenue Project 4, <br> Series B-1, 5.0%, Mandatory Put 8/1/2028 @ 100, 5/1/2053, GTY: Goldman Sachs & <br> Co.<br>| 1365000 | 1431123 |
| &nbsp;&nbsp;&nbsp; Southeast Alabama, State Gas Supply District Revenue Project, Series A, 4.0%, <br> Mandatory Put 6/1/2024 @ 100, 6/1/2049, GTY: Morgan Stanley<br>| 1200000 | 1202830 |
|  |  | **8403889** |
| **Alaska 0.0%** | **Alaska 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Alaska, Northern Tobacco Securitization Corp. Tobacco Settlement Revenue, "2", <br> Series B-1, 0.5%, 6/1/2031<br>| 80000 | **79506** |
| **Arizona 2.4%** | **Arizona 2.4%** |  |
| &nbsp;&nbsp;&nbsp; Arizona, Industrial Development Authority, Hospital Revenue Bonds, Phoenix Children <br> Hospital:<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.0%, 2/1/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 220313 |
| &nbsp;&nbsp;&nbsp; Series A, 5.0%, 2/1/2028  | 1300000 | &nbsp;&nbsp;&nbsp; 1463989 |
| &nbsp;&nbsp;&nbsp; Arizona, Tempe Industrial Development Authority, Tempe Life Care Village Inc., <br> Series C-2, 1.125%, 12/1/2026<br>| 2000000 | &nbsp;&nbsp;&nbsp; 1746202 |
| &nbsp;&nbsp;&nbsp; Coconino County, AZ, Pollution Control Corp. Revenue, Nevada Power Co., Series A, <br> AMT, 1.875%, Mandatory Put 3/31/2023 @ 100, 9/1/2032<br>| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 997968 |
|  |  | **4428472** |
| **California 14.7%** | **California 14.7%** |  |
| California, Bay Area Toll Authority, Toll Bridge Revenue, San Francisco Bay Area: |  |  |
| &nbsp;&nbsp;&nbsp; Series B-1, MUNIPSA + 1.1%, 2.76% (a), Mandatory Put 4/1/2024 @ 100, 4/1/2045 | 1900000 | &nbsp;&nbsp;&nbsp; 1910347 |
| &nbsp;&nbsp;&nbsp; Series A, MUNIPSA + 1.25%, 2.91% (a), Mandatory Put 4/1/2027 @ 100, 4/1/2036 | 3940000 | &nbsp;&nbsp;&nbsp; 3973347 |
| &nbsp;&nbsp;&nbsp; California, Community Choice Financing Authority Clean Energy Project Revenue, <br> Series A-1, 4.0%, Mandatory Put 8/1/2028 @ 100, 5/1/2053, GTY: Morgan Stanley<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2031745 |
| &nbsp;&nbsp;&nbsp; California, Eastern Municipal Water District, Series B, MUNIPSA + 0.1%, 1.76% (a), <br> Mandatory Put 7/1/2024 @ 100, 7/1/2046<br>| 1630000 | &nbsp;&nbsp;&nbsp; 1619307 |
| &nbsp;&nbsp;&nbsp; California, Metropolitan Water District Revenue, Series E, MUNIPSA + 0.14%, 1.8% <br> (a), Mandatory Put 5/21/2024 @100, 7/1/2037<br>| &nbsp;&nbsp; 880000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 874872 |
| &nbsp;&nbsp;&nbsp; California, Municipal Finance Authority, Waste Disposal Revenue, Series A, AMT, <br> 4.125%, Mandatory Put 10/1/2025 @ 100, 10/1/2041, GTY: Waste Management <br> Holdings<br>| &nbsp;&nbsp; 320000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 322586 |
| &nbsp;&nbsp;&nbsp; California, Nuveen AMT-Free Municipal Credit Income Fund, Series C, 2.11% (b), <br> 2/1/2023<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp; California, Public Finance Authority Revenue, Enso Village Project, Series B-3, 144A, <br> 2.125%, 11/15/2027<br>| 1500000 | &nbsp;&nbsp;&nbsp; 1422525 |
| &nbsp;&nbsp;&nbsp; California, San Diego Association of Governments, Capital Grant Receipts Revenue, <br> Mid-Coast Corridor Transit Project, Series B, 1.8%, 11/15/2027<br>| 1500000 | &nbsp;&nbsp;&nbsp; 1438820 |

---

------

---

| | | |
|:---|:---|:---|
| California, State Infrastructure & Economic Development Bank Revenue: |  |  |
| &nbsp;&nbsp;&nbsp; 1.75%, Mandatory Put 8/1/2026 @ 100, 8/1/2055 | 1100000 | 1040859 |
| &nbsp;&nbsp;&nbsp; Series A, MUNIPSA + 0.35%, 2.01% (a), Mandatory Put 8/1/2024 @ 100, 8/1/2047 | 570000 | 562644 |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 3.65%, Mandatory Put 1/31/2024 @ 100, 1/1/2050 | 2000000 | 1999968 |
| &nbsp;&nbsp;&nbsp; California, State Municipal Finance Authority Revenue, LAX Integrated Express <br> Solutions LLC, APM Project:<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 5.0%, 12/31/2025 | 1000000 | 1050746 |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 5.0%, 6/30/2026 | 500000 | 528109 |
| California, Transbay Joint Powers Authority, Series B, 2.4%, 10/1/2049 | 110000 | 104086 |
| &nbsp;&nbsp;&nbsp; Los Angeles County, CA, Community College District, General Obligation, Series C-1, <br> 5.0%, 8/1/2024<br>| 2000000 | 2083904 |
| &nbsp;&nbsp;&nbsp; Los Angeles County, CA, Department of Water & Power System, Series E, 5.0%, <br> 7/1/2025<br>| 1000000 | 1068027 |
| Port Oakland, CA, Intermediate Lien Revenue Bonds: |  |  |
| &nbsp;&nbsp;&nbsp; Series H, AMT, 5.0%, 5/1/2028 | 500000 | 551150 |
| &nbsp;&nbsp;&nbsp; Series H, AMT, 5.0%, 11/1/2029 | 250000 | 281552 |
| &nbsp;&nbsp;&nbsp; San Diego Country, CA, Unified School District, General Obligation, Series O-2, 5.0%, <br> 7/1/2024<br>| 3000000 | 3120743 |
|  |  | **26985337** |
| **Colorado 1.5%** | **Colorado 1.5%** |  |
| Denver City & County, CO, Airport System Revenue: |  |  |
| &nbsp;&nbsp;&nbsp; Series C, 5.0%, 11/15/2025 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 537507 |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 5.0%, 12/1/2026 | 2000000 | &nbsp;&nbsp;&nbsp; 2148341 |
|  |  | **2685848** |
| **Connecticut 4.8%** | **Connecticut 4.8%** |  |
| Connecticut, State General Obligation: |  |  |
| &nbsp;&nbsp;&nbsp; Series E, 5.0%, 11/15/2025 | 1000000 | &nbsp;&nbsp;&nbsp; 1074452 |
| &nbsp;&nbsp;&nbsp; Series A, 5.0%, 3/15/2029 | 2000000 | &nbsp;&nbsp;&nbsp; 2111796 |
| &nbsp;&nbsp;&nbsp; Connecticut, State Health & Educational Facilities Authority, Series A, 2.8%, Mandatory <br> Put 2/10/2026 @ 100, 7/1/2048<br>| 1500000 | &nbsp;&nbsp;&nbsp; 1498368 |
| Connecticut, State Housing Finance Authority, Housing Finance Mortgage Program: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A-4, MUNIPSA + 0.3%, 1.96% (a), Mandatory Put 11/15/2024 @ 100, <br> 11/15/2050<br>| 2500000 | &nbsp;&nbsp;&nbsp; 2480515 |
| &nbsp;&nbsp;&nbsp; Series C-1, 4.0%, 11/15/2047 | &nbsp;&nbsp; 555000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 559340 |
| &nbsp;&nbsp;&nbsp; Connecticut, State Housing Finance Program Authority Revenue, Series A-1, 4.0%, <br> 11/15/2047<br>| &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 453576 |
| Connecticut, State Special Tax Obligation Revenue, Series B, 5.0%, 7/1/2025 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 532673 |
|  |  | **8710720** |
| **Florida 3.8%** | **Florida 3.8%** |  |
| &nbsp;&nbsp;&nbsp; Florida, Capital Projects Finance Authority, Student Housing Revenue, Capital Project <br> Loan Program, Series A-1, 5.0%, 10/1/2026<br>| &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 515137 |
| &nbsp;&nbsp;&nbsp; Florida, Development Finance Corp., Brightline Florida Passenger Rail Expansion <br> Project, Series A, 144A, AMT, 7.25%, Mandatory Put 10/3/2023 @ 100, 7/1/2057<br>| &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 499229 |
| &nbsp;&nbsp;&nbsp; Florida, Development Finance Corp., The Mayflower Retirement Community Project, <br> Series B, 144A, 1.75%, 6/1/2026<br>| 1020000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 925265 |
| &nbsp;&nbsp;&nbsp; Florida, Development Finance Corp., Transportation Facility Revenue, Virgin Trains <br> U.S.A. Passenger Rail Project, Series A, 144A, AMT, 6.375%, Mandatory Put <br> 1/1/2026 @ 100, 1/1/2049<br>| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 924086 |
| Florida, Duval County Public Schools, Series A, 5.0%, 7/1/2025, INS: AGMC | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 530006 |
| &nbsp;&nbsp;&nbsp; Hillsborough County, FL, Solid Waste & Resource Recovery Revenue, Series A, AMT, <br> 5.0%, 9/1/2025<br>| 2250000 | &nbsp;&nbsp;&nbsp; 2362962 |

---

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Lee County, FL, Industrial Development Authority, Health Care Facilities Revenue, <br> Cypress Cove At Healthpark Florida, Inc., Series B2, 3.25%, 10/1/2026<br>| 1000000 | 967021 |
| &nbsp;&nbsp;&nbsp; Village, FL, Community Development District No. 13, Special Assessment Revenue, <br> 2.625%, 5/1/2024<br>| 245000 | 240349 |
|  |  | **6964055** |
| **Georgia 3.6%** | **Georgia 3.6%** |  |
| &nbsp;&nbsp;&nbsp; Burke County, GA, Development Authority, Pollution Control Revenue, Oglethorpe <br> Power Corp., Series E, 3.25%, Mandatory Put 2/3/2025 @ 100, 11/1/2045<br>| 1200000 | 1199878 |
| &nbsp;&nbsp;&nbsp; Georgia, Geo L Smith II Congress Center Authority, Convention Center Hotel First Tier <br> Revenue, Series A, 2.375%, 1/1/2031<br>| 750000 | 671635 |
| Georgia, Main Street Natural Gas, Inc., Gas Supply Revenue: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, 4.0%, Mandatory Put 9/1/2023 @ 100, 4/1/2048, GTY: Royal Bank of <br> Canada, LIQ: Royal Bank of Canada<br>| 1865000 | 1872534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, 4.0%, Mandatory Put 12/1/2023 @ 100, 8/1/2048, GTY: Royal Bank of <br> Canada, LIQ: Royal Bank of Canada<br>| 750000 | 754313 |
| &nbsp;&nbsp;&nbsp; Series B, 5.0%, Mandatory Put 6/1/2029 @ 100,12/1/2052, GTY: Citi Group, Inc. | 2000000 | 2114934 |
|  |  | **6613294** |
| **Illinois 2.5%** | **Illinois 2.5%** |  |
| Chicago, O'Hare International Airport Revenue, Series C, AMT, 5.0%, 1/1/2025 | 850000 | 880191 |
| Illinois, State General Obligation: |  |  |
| &nbsp;&nbsp;&nbsp; 5.0%, 8/1/2023 | 1000000 | &nbsp;&nbsp;&nbsp; 1010952 |
| &nbsp;&nbsp;&nbsp; Series B, 5.0%, 3/1/2025 | &nbsp;&nbsp; 770000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 801293 |
| &nbsp;&nbsp;&nbsp; Series A, 5.0%, 3/1/2028 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 811024 |
| &nbsp;&nbsp;&nbsp; 5.375%, 5/1/2023 | 1000000 | &nbsp;&nbsp;&nbsp; 1006337 |
|  |  | **4509797** |
| **Indiana 0.4%** | **Indiana 0.4%** |  |
| &nbsp;&nbsp;&nbsp; Indiana, Finance Authority Revenue, Deaconess Health System, Series B, MUNIPSA + <br> 0.3%, 1.96% (a), Mandatory Put 3/1/2027 @ 100, 3/1/2039<br>| &nbsp;&nbsp; 705000 | **687753** |
| **Kansas 0.2%** | **Kansas 0.2%** |  |
| &nbsp;&nbsp;&nbsp; Manhattan, KS, Health Care Facilities Revenue Bonds, Meadowlark Hills Retirement, <br> Series B-1, 2.875%, 6/1/2028<br>| &nbsp;&nbsp; 375000 | **338098** |
| **Kentucky 3.0%** | **Kentucky 3.0%** |  |
| &nbsp;&nbsp;&nbsp; Boone County, KY, Pollution Control Revenue, Duke Energy Kentucky, Inc., Project, <br> Series A, 3.7%, 8/1/2027<br>| &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 756710 |
| &nbsp;&nbsp;&nbsp; Kentucky, Higher Education Student Loan Corp. Revenue, Taxable Asset Back Notes, <br> "A1A", Series 2021-1, 1.65%, 3/25/2051<br>| &nbsp;&nbsp; 729833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 680695 |
| &nbsp;&nbsp;&nbsp; Kentucky, State Public Energy Authority, Gas Supply Revenue, Series B, 4.0%, <br> Mandatory Put 1/1/2025 @ 100, 1/1/2049, GTY: BP Corp. North America, Inc.<br>| 1435000 | &nbsp;&nbsp;&nbsp; 1435137 |
| &nbsp;&nbsp;&nbsp; Louisville & Jefferson County, KY, Metropolitan Government Control Revenue, <br> Louisville Gas & Celectric Co., Series B, AMT, 1.35%, 11/1/2027<br>| 3000000 | &nbsp;&nbsp;&nbsp; 2722064 |
|  |  | **5594606** |
| **Louisiana 2.1%** | **Louisiana 2.1%** |  |
| &nbsp;&nbsp;&nbsp; Lake Charles, LA, Harbor & Terminal District Revenue, Big Lake Fuels LLC Project, <br> AMT, 1.0%, Mandatory Put 12/1/2024 @ 100, 12/1/2051<br>| 3000000 | &nbsp;&nbsp;&nbsp; 2833498 |
| Louisiana, Stadium & Exposition District, Bond Anticipation Notes, 5.0%, 7/3/2023 | 1000000 | &nbsp;&nbsp;&nbsp; 1001422 |
|  |  | **3834920** |
| **Maryland 0.6%** | **Maryland 0.6%** |  |
| &nbsp;&nbsp;&nbsp; Maryland, State Health & Higher Educational Facilities Authority Revenue, University <br> of Maryland Medical System Obligated Group, Series B-2, 5.0%, Mandatory Put <br> 7/1/2027 @ 100, 7/1/2045<br>| 1000000 | **1079994** |

---

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| | | |
|:---|:---|:---|
| **Massachusetts 0.1%** | **Massachusetts 0.1%** |  |
| Massachusetts, Educational Financing Authority Education Loan Revenue: |  |  |
| &nbsp;&nbsp;&nbsp; Series B, AMT, 2.0%, 7/1/2037 | 170000 | 146092 |
| &nbsp;&nbsp;&nbsp; Series B, AMT, 2.625%, 7/1/2036 | 80000 | 76364 |
|  |  | **222456** |
| **Michigan 2.7%** | **Michigan 2.7%** |  |
| Michigan, State Finance Authority Revenue: |  |  |
| &nbsp;&nbsp;&nbsp; "A1A", Series A, 1.3%, 7/25/2061 | 1109300 | 1035444 |
| &nbsp;&nbsp;&nbsp; Series A-1, 5.0%, 7/20/2023 | 750000 | 758352 |
| &nbsp;&nbsp;&nbsp; Michigan, State Finance Authority Revenue, Beaumont-Spectrum, MUNIPSA + 0.75%, <br> 2.41% (a), Mandatory Put 4/15/2027 @ 100, 4/15/2047<br>| 1750000 | 1721553 |
| &nbsp;&nbsp;&nbsp; Michigan, State Finance Authority Revenue, Hospital McLaren Health Care Corp., <br> Series D-2, 1.2%, Mandatory Put 4/13/2028 @ 100, 10/15/2038<br>| 1250000 | 1139396 |
| &nbsp;&nbsp;&nbsp; Michigan, State University Revenue, Series 2000-A, 1.7% (b), 2/1/2023, SPA: Northern <br> Trust Co.<br>| 300000 | 300000 |
|  |  | **4954745** |
| **Minnesota 0.8%** | **Minnesota 0.8%** |  |
| &nbsp;&nbsp;&nbsp; Minnesota, Municipal Gas Agency Commodity Supply Revenue, Series A, 4.0%, <br> Mandatory Put 12/1/2027 @ 100,12/1/2052, GTY: Royal Bank of Canada, LIQ: Royal <br> Bank of Canada<br>| 1500000 | **1529585** |
| **Mississippi 0.3%** | **Mississippi 0.3%** |  |
| &nbsp;&nbsp;&nbsp; Lowndes County, MS, Solid Waste Disposal And Pollution Control Refunding Revenue <br> Bonds, International Company Project, 2.65%, Mandatory Put 4/1/2027 @ 100, <br> 4/1/2037, GTY: International Paper Co.<br>| &nbsp;&nbsp; 500000 | **472491** |
| **Missouri 1.1%** | **Missouri 1.1%** |  |
| &nbsp;&nbsp;&nbsp; Missouri, Higher Education Loan Authority Revenue, Taxable Student Loan Asset Back <br> Notes, "AIA", Series 2021-1, 1.53%, 1/25/2061<br>| 1597466 | &nbsp;&nbsp;&nbsp; 1419913 |
| Missouri, Plaza At Noah's Ark Community Improvement District: |  |  |
| &nbsp;&nbsp;&nbsp; 3.0%, 5/1/2023 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 149581 |
| &nbsp;&nbsp;&nbsp; 3.0%, 5/1/2024 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 196724 |
| &nbsp;&nbsp;&nbsp; 3.0%, 5/1/2025 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 218367 |
|  |  | **1984585** |
| **Nevada 0.2%** | **Nevada 0.2%** |  |
| &nbsp;&nbsp;&nbsp; Nevada, State Department of Business and Industry, Republic Services, Inc. Project, <br> Series 2001, 144A, AMT, 3.75%, Mandatory Put 6/1/2023 @ 100, 12/1/2026<br>| &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300261 |
| &nbsp;&nbsp;&nbsp; Sparks, NV, Tourism Improvement District No. 1 Revenue, Sales Tax Revenue, Series A, <br> 144A, 2.5%, 6/15/2024<br>| &nbsp;&nbsp; 155000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 151264 |
|  |  | **451525** |
| **New Jersey 3.4%** | **New Jersey 3.4%** |  |
| &nbsp;&nbsp;&nbsp; New Jersey, State Economic Development Authority, Motor Vehicle Surcharge Revenue, <br> Series A, 3.125%, 7/1/2029<br>| &nbsp;&nbsp; 195000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 195143 |
| &nbsp;&nbsp;&nbsp; New Jersey, State Transportation Trust Fund Authority, Federal Highway Reimbursement <br> Notes, Series A, 5.0%, 6/15/2024<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1030983 |
| New Jersey, Tobacco Settlement Financing Corp., Series A, 5.0%, 6/1/2025 | 1955000 | &nbsp;&nbsp;&nbsp; 2029062 |
| Newark City, NJ, General Obligation, Series C, 3.75%, 2/17/2023 | 3000000 | &nbsp;&nbsp;&nbsp; 3000730 |
|  |  | **6255918** |
| **New Mexico 0.3%** | **New Mexico 0.3%** |  |
| &nbsp;&nbsp;&nbsp; New Mexico, Mortgage Finance Authority, Single Family Mortgage, "I", Series A-1, <br> 4.0%, 1/1/2049<br>| &nbsp;&nbsp; 500000 | **505620** |

---

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| | | |
|:---|:---|:---|
| **New York 12.6%** | **New York 12.6%** |  |
| &nbsp;&nbsp;&nbsp; Chautauqua County, NY, Capital Resource Corp., Exempt Facilities Revenue, NRG <br> Energy, Inc. Project, 1.3%, Mandatory Put 4/3/2023 @ 100, 4/1/2042<br>| 2000000 | 1990715 |
| &nbsp;&nbsp;&nbsp; New York, Amherst Industrial Development Agency, Multi Family Housing Revenue, <br> 3.9%, Mandatory Put 4/1/2025 @ 100, 4/1/2026<br>| 2000000 | 2032937 |
| &nbsp;&nbsp;&nbsp; New York, Long Island Power Authority, Series C, MUNIPSA + 0.45%, 2.11% (a), <br> Mandatory Put 9/1/2025 @ 100, 9/1/2038<br>| 1000000 | 980544 |
| &nbsp;&nbsp;&nbsp; New York, Metropolitan Transportation Authority, Dedicated Tax Fund, Series A-1, <br> 1.15% (b), 2/1/2023, LOC: TD Bank NA<br>| 100000 | 100000 |
| &nbsp;&nbsp;&nbsp; New York, State Mortgage Agency, Homeowner Mortgage Revenue, Series 195, 4.0%, <br> 10/1/2046<br>| 930000 | 934499 |
| &nbsp;&nbsp;&nbsp; New York, State Transportation Development Corp., Special Facility Revenue, Delta Air <br> Lines, Inc., LaGuardia Airport Terminals C&D Redevelopment, AMT, 5.0%, 1/1/2024<br>| 2500000 | 2524680 |
| &nbsp;&nbsp;&nbsp; New York, State Transportation Development Corp., Special Facility Revenue, Terminal <br> 4 John F. Kennedy International Airport Project, AMT, 5.0%, 12/1/2028<br>| 1500000 | 1622736 |
| New York, Triborough Bridge & Tunnel Authority Revenue: |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.0%, 8/15/2024 | 3000000 | 3111634 |
| &nbsp;&nbsp;&nbsp; Series A, 5.0%, 11/15/2024 | 1250000 | 1309275 |
| &nbsp;&nbsp;&nbsp; Series A, 5.0%, 11/15/2025 (c) | 1250000 | 1339905 |
| New York & New Jersey, Port Authority: |  |  |
| &nbsp;&nbsp;&nbsp; Series 226, AMT, 5.0%, 10/15/2027 | 750000 | 818883 |
| &nbsp;&nbsp;&nbsp; Series 226, AMT, 5.0%, 10/15/2028 | &nbsp;&nbsp; 660000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 732067 |
| &nbsp;&nbsp;&nbsp; New York City, NY, Housing Development Corp., Multi-Family Mortgage Revenue, <br> Series A, 1.125%, Mandatory Put 11/1/2024 @ 100, 5/1/2060<br>| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 961758 |
| New York, NY, General Obligation: |  |  |
| &nbsp;&nbsp;&nbsp; Series D-4, 1.15% (b), 2/1/2023, LOC: TD Bank NA | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 700000 |
| &nbsp;&nbsp;&nbsp; Series I-4, 1.15% (b), 2/1/2023, LOC: TD Bank NA | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100000 |
| &nbsp;&nbsp;&nbsp; Series 3, 1.75% (b), 2/1/2023 | &nbsp;&nbsp; 740000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 740000 |
| &nbsp;&nbsp;&nbsp; New York, NY, Municipal Water Finance Authority, Water & Sewer System Revenue, <br> Series EE-2, 1.2% (b), 2/1/2023, LIQ: State Street B&T Co.<br>| &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200000 |
| Oyster Bay, NY, Public Improvement Refunding Bonds, 4.0%, 11/1/2027, INS: BAM | &nbsp;&nbsp; 315000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 340650 |
| Troy, NY, Capital Resource Corp. Revenue, Rensselaer Polytechnic Institute: |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.0%, 9/1/2025 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 315214 |
| &nbsp;&nbsp;&nbsp; Series A, 5.0%, 9/1/2027 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 545453 |
| &nbsp;&nbsp;&nbsp; 5.0%, 8/1/2028 | 1000000 | &nbsp;&nbsp;&nbsp; 1057627 |
| &nbsp;&nbsp;&nbsp; Series A, 5.0%, 9/1/2028 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 553279 |
|  |  | **23011856** |
| **North Carolina 1.1%** | **North Carolina 1.1%** |  |
| North Carolina, Charlotte-Mecklenburg Hospital Health Care Authorirty Revenue: |  |  |
| &nbsp;&nbsp;&nbsp; Series E, 1.27% (b), 2/1/2023, LOC: Royal Bank of Canada | &nbsp;&nbsp; 520000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 520000 |
| &nbsp;&nbsp;&nbsp; Series C, 5.0%, Mandatory Put 12/1/2028 @ 100, 1/15/2050 | 1000000 | &nbsp;&nbsp;&nbsp; 1134336 |
| &nbsp;&nbsp;&nbsp; North Carolina, State Housing Finance Agency, Home Ownership Revenue, Series 38-B, <br> 4.0%, 7/1/2047<br>| &nbsp;&nbsp; 360000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 362822 |
|  |  | **2017158** |
| **North Dakota 0.8%** | **North Dakota 0.8%** |  |
| &nbsp;&nbsp;&nbsp; North Dakota, State Housing Finance Agency, Home Mortgage Housing Finance <br> Program:<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series B, MUNIPSA + 0.2%, 1.86% (a), Mandatory Put 7/1/2024 @100, 1/1/2043 | &nbsp;&nbsp; 925000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 925000 |
| &nbsp;&nbsp;&nbsp; Series A, 4.0%, 7/1/2047 | &nbsp;&nbsp; 505000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 508837 |
|  |  | **1433837** |
| **Ohio 5.1%** | **Ohio 5.1%** |  |
| Allen Country, OH, Hospital Facilities Revenue, Series A, 5.0%, 12/1/2023 | 1000000 | &nbsp;&nbsp;&nbsp; 1019096 |
| Cleveland, OH, Airport System Revenue, Series A, AMT, 5.0%, 1/1/2025 | 1000000 | &nbsp;&nbsp;&nbsp; 1034387 |

---

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Franklin Country, OH, Trinity Health Corp. Obligated Group, Series OH, 3.3%, <br> Mandatory Put 5/1/2023 @100, 12/1/2046<br>| 1000000 | 999921 |
| Ohio, Higher Educational Facilities Commission, University of Dayton: |  |  |
| &nbsp;&nbsp;&nbsp; Series B, 5.0%, 2/1/2027 | 995000 | 1083744 |
| &nbsp;&nbsp;&nbsp; Series B, 5.0%, 2/1/2028 | 1045000 | 1159623 |
| &nbsp;&nbsp;&nbsp; Ohio, Port of Greater Cincinnati Development Authority Revenue, Convention Center <br> Hotel Acquisition And Demolition Project, Series A, 3.0%, 5/1/2023<br>| 1500000 | 1497761 |
| Ohio, State Turnpike Commission, Infrastructure Projects, Series A, 5.0%, 2/15/2024 | 2500000 | 2567248 |
|  |  | **9361780** |
| **Oregon 0.3%** | **Oregon 0.3%** |  |
| &nbsp;&nbsp;&nbsp; Oregon, State Housing & Community Services Department, Mortgage Revenue, <br> Series A, 3.5%, 7/1/2036<br>| 595000 | **594418** |
| **Pennsylvania 5.8%** | **Pennsylvania 5.8%** |  |
| &nbsp;&nbsp;&nbsp; Geisinger, PA, Authority Health System Revenue, Series B, 5.0%, Mandatory Put <br> 2/15/2027 @ 100, 4/1/2043<br>| 1000000 | 1070688 |
| &nbsp;&nbsp;&nbsp; Pennsylvania, Commonwealth Financing Authority, Tobacco Master Settlement Payment <br> Revenue Bonds, 5.0%, 6/1/2026<br>| 2000000 | 2148396 |
| &nbsp;&nbsp;&nbsp; Pennsylvania, Economic Development Financing Authority, Solid Waste Disposal <br> Revenue:<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series B-1, AMT, 3.45%, Mandatory Put 4/17/2023 @ 100, 4/1/2049 | 1000000 | 1000272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AMT, 4.0%, Mandatory Put 2/1/2023 @ 100, 8/1/2045, GTY: Waste Management, <br> Inc.<br>| 3000000 | &nbsp;&nbsp;&nbsp; 3000058 |
| Pennsylvania, State Housing Finance Agency, Single Family Mortgage Revenue: |  |  |
| &nbsp;&nbsp;&nbsp; Series 119, AMT, 3.5%, 10/1/2041 | &nbsp;&nbsp; 360000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 359493 |
| &nbsp;&nbsp;&nbsp; Series 122, AMT, 4.0%, 10/1/2046 | 1590000 | &nbsp;&nbsp;&nbsp; 1599806 |
| &nbsp;&nbsp;&nbsp; Pittsburgh & Allegheny Counties, PA, Sports & Exhibition Authority Revenue, Series B, <br> 5.0%, 2/1/2029, INS: AGMC<br>| &nbsp;&nbsp; 875000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 984216 |
| &nbsp;&nbsp;&nbsp; Pittsburgh, PA, Water & Sewer Authority Systems Revenue, Series C, MUNIPSA + <br> 0.65%, 2.31% (a), Mandatory Put 12/1/2023 @ 100, 9/1/2040, INS: AGMC<br>| &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 499645 |
|  |  | **10662574** |
| **South Dakota 0.5%** | **South Dakota 0.5%** |  |
| &nbsp;&nbsp;&nbsp; South Dakota, Housing Development Authority, Homeownership Mortgage, Series B, <br> 4.0%, 11/1/2047<br>| &nbsp;&nbsp; 855000 | **861453** |
| **Tennessee 1.2%** | **Tennessee 1.2%** |  |
| &nbsp;&nbsp;&nbsp; Tennessee, Housing Development Agency, Residential Financing Program Revenue, <br> Series 1C, AMT, 3.0%, 7/1/2038<br>| &nbsp;&nbsp;&nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24935 |
| &nbsp;&nbsp;&nbsp; Tennessee, State Energy Acquisition Corp., Gas Revenue, Series A, 4.0%, Mandatory <br> Put 5/1/2023 @ 100, 5/1/2048, GTY: Goldman Sachs Group, Inc.<br>| 2250000 | &nbsp;&nbsp;&nbsp; 2252407 |
|  |  | **2277342** |
| **Texas 10.4%** | **Texas 10.4%** |  |
| Austin, TX , Water & Wastewater System Revenue, 5.0%, 11/15/2024 | 1000000 | &nbsp;&nbsp;&nbsp; 1047420 |
| &nbsp;&nbsp;&nbsp; Fort Bend, TX, Independent School District Variable Rate, Unlimited Tax Building and <br> Refunding Bonds:<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series B, 0.875%, Mandatory Put 8/1/2025 @ 100, 8/1/2050 | &nbsp;&nbsp; 390000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 368815 |
| &nbsp;&nbsp;&nbsp; Series B, 3.0%, Mandatory Put 8/1/2023 @ 100, 8/1/2052 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 999689 |
| Harris County, TX, Spring Branch Independent School District, 5.0%, 2/1/2025 | 1500000 | &nbsp;&nbsp;&nbsp; 1579328 |
| Houston, TX, Airport Systems Revenue: |  |  |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 5.0%, 7/1/2025 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 524005 |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 5.0%, 7/1/2026 | 1000000 | &nbsp;&nbsp;&nbsp; 1066261 |
| &nbsp;&nbsp;&nbsp; Series C, AMT, 5.0%, 7/1/2026 | 2500000 | &nbsp;&nbsp;&nbsp; 2665654 |
| &nbsp;&nbsp;&nbsp; Houston, TX, Hotel Occupancy Tax And Special Revenue, Convention and <br> Entertainment Facilities Department, 5.0%, 9/1/2026<br>| 1735000 | &nbsp;&nbsp;&nbsp; 1883146 |
| &nbsp;&nbsp;&nbsp; Houston, TX, Independent School District, 4.0%, Mandatory Put 6/1/2023 @ 100, <br> 6/1/2029<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1004538 |

---

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Mission, TX, Economic Development Corp., Waste Managament Inc., Series A, AMT, <br> 3.5%, Mandatory Put 3/1/2023 @ 100, 5/1/2046<br>| 650000 | 650065 |
| &nbsp;&nbsp;&nbsp; New Hope, TX, Cultural Education Facilities Finance Corporation, Retirement Facility <br> Revenue, Outlook at Windhaven Project, Series B3, 4.25%, 10/1/2026<br>| 2000000 | 2000352 |
| North Texas, Tollway Authority Revenue, Series B, 5.0%, 1/1/2025 | 3000000 | 3149984 |
| Texas, Grand Parkway Transportation Corp., 5.0%, 2/1/2023 | 1040000 | 1040000 |
| &nbsp;&nbsp;&nbsp; Texas, State Municipal Gas Acquisition & Supply Corp., III Gas Supply Revenue, 5.0%, <br> 12/15/2029, GTY: Macquarie Group Ltd.<br>| 500000 | 531697 |
| Texas, State Water Implementation Revenue, 5.0%, 10/15/2024 | 500000 | 522821 |
|  |  | **19033775** |
| **Virginia 2.2%** | **Virginia 2.2%** |  |
| &nbsp;&nbsp;&nbsp; Chesapeake Bay, VA, Bridge & Tunnel District Revenue, First Tier General Resolution, <br> 5.0%, 11/1/2023<br>| 1250000 | 1268386 |
| &nbsp;&nbsp;&nbsp; Louisa, VA, Industrial Development Authority, Pollution Control Revenue, Virginia <br> Electric And Power Company Project, Series C, 1.65%, Mandatory Put 5/31/2024 @ <br> 100, 11/1/2035<br>| 950000 | 923465 |
| &nbsp;&nbsp;&nbsp; Peninsula, VA, Ports Authority, Coal Terminal Revenue, Dominion Terminal Associates <br> Project, Series 2003, 3.8%, Mandatory Put 10/1/2024 @ 100, 10/1/2033<br>| 750000 | 756797 |
| &nbsp;&nbsp;&nbsp; Virginia, Small Business Financing Authority Revenue, Elizabeth River Crossings <br> OpCo., LLC Project, AMT, 4.0%, 7/1/2029<br>| 1000000 | 1023400 |
|  |  | **3972048** |
| **Washington 2.8%** | **Washington 2.8%** |  |
| &nbsp;&nbsp;&nbsp; King County, WA, Industrial Development Authority, Health Care Facilities Revenue, <br> Cypress Cove At Healthpark Florida, Inc., Series A, MUNIPSA + 0.23%, 1.89% (a), <br> Mandatory Put 1/1/2027 @ 100, 1/1/2040<br>| 1155000 | &nbsp;&nbsp;&nbsp; 1125416 |
| Seattle, WA, Municipal Light & Power Revenue: |  |  |
| &nbsp;&nbsp;&nbsp; Series B, MUNIPSA + 0.25%, 1.91% (a), Mandatory Put 11/1/2026 @ 100, 5/1/2045 | &nbsp;&nbsp; 355000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 348314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C-1, MUNIPSA + 0.49%, 2.15% (a), Mandatory Put 11/1/2023 @ 100, <br> 11/1/2046<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2000536 |
| &nbsp;&nbsp;&nbsp; Washington, Central Puget Sound Regional Transit Authority Sales & Use Taxes <br> Revenue, Motor Vehicle Excise Tax Improvement, Green Bond, Series 2A, MUNIPSA <br> + 0.2%, 1.86% (a), Mandatory Put 11/1/2026 @ 100, 11/1/2045<br>| 1615000 | &nbsp;&nbsp;&nbsp; 1572529 |
|  |  | **5046795** |
| **West Virginia 0.5%** | **West Virginia 0.5%** |  |
| &nbsp;&nbsp;&nbsp; West Virginia, State Economic Development Authority, Solid Waste Disposal Facilities <br> Revenue, Arch Resources Project, Series A, AMT, 4.125%, Mandatory Put 7/1/2025 <br> @ 100, 7/1/2045<br>| 1000000 | **987884** |
| **Wisconsin 3.2%** | **Wisconsin 3.2%** |  |
| &nbsp;&nbsp;&nbsp; Wisconsin, State Health & Educational Facilities Authority Revenue, Advocate Aurora <br> Health Credit Group:<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C-4, MUNIPSA + 0.65%, 2.31% (a), Mandatory Put 7/31/2024 @ 100, <br> 8/15/2054<br>| 1000000 | &nbsp;&nbsp;&nbsp; 1000330 |
| &nbsp;&nbsp;&nbsp; Series B-2, 5.0%, Mandatory Put 6/24/2026 @ 100, 8/15/2054 | 1000000 | &nbsp;&nbsp;&nbsp; 1077632 |
| &nbsp;&nbsp;&nbsp; Series C-3, 5.0%, Mandatory Put 6/24/2026 @ 100, 8/15/2054 | 1000000 | &nbsp;&nbsp;&nbsp; 1077341 |
| &nbsp;&nbsp;&nbsp; Wisconsin, State Housing & Economic Development Authority, Series B, 4.0%, <br> Mandatory Put 11/1/2025 @ 100, 11/1/2053<br>| 2000000 | &nbsp;&nbsp;&nbsp; 2021950 |
| &nbsp;&nbsp;&nbsp; Wisconsin, State Housing & Economic Development Authority, Home Ownership <br> Revenue, Series A, AMT, 3.5%, 3/1/2046<br>| &nbsp;&nbsp; 710000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 706236 |
|  |  | **5883489** |
| **Other 0.1%** | **Other 0.1%** |  |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp., Multi-Family Variable Rate Certificates, "A", <br> Series M-024, AMT, 2.304%, 5/15/2027<br>| &nbsp;&nbsp; 115000 | **107953** |
| **Total Municipal Investments** (Cost $185,581,534) | **Total Municipal Investments** (Cost $185,581,534) | **182545576** |

---

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

------

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value ($)** |
| **Open-End Investment Companies 0.0%** | **Open-End Investment Companies 0.0%** |  |
| &nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds MuniCash Portfolio, Institutional Shares, 1.5% (d) <br> (Cost $17,795)<br>| 17550 | **18505** |

---

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

---

| | | |
|:---|:---|:---|
|  | **% of Net**<br> **Assets**<br>| **Value ($)** |
| **Total Investment Portfolio** (Cost $185,599,329) | &nbsp;&nbsp; 99.7 | **182564081** |
| **Other Assets and Liabilities, Net**  | &nbsp;&nbsp;&nbsp; 0.3 | **564936** |
| **Net Assets** | 100.0 | **183129017** |

---

*For information on the Fund's policies regarding the valuation of investments and other significant accounting policies, please refer to the Fund's most recent semi-annual or annual financial statements.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(a)* *Variable or floating rate security. These securities are shown at their current rate as of January 31, 2023. For securities based on* *a published reference rate and spread, the reference rate and spread are indicated within the description above. Certain variable* *rate securities are not based on a published reference rate and spread but adjust periodically based on current market conditions,* *prepayment of underlying positions and/or other variables. Securities with a floor or ceiling feature are disclosed at the inherent* *rate, where applicable.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(b)* *Variable rate demand notes and variable rate demand preferred shares are securities whose interest rates are reset periodically* *(usually daily mode or weekly mode) by remarketing agents based on current market levels, and are not directly set as a fixed* *spread to a reference rate. These securities may be redeemed at par by the holder through a put or tender feature, and are shown* *at their current rates as of January 31, 2023. Date shown reflects the earlier of demand date or stated maturity date.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(c)* *When-issued security.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(d)* *Current yield; not a coupon rate.* 

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

---

| |
|:---|
| *144A: Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions* <br> *exempt from registration, normally to qualified institutional buyers.*<br>|
| *AGMC: Assured Guaranty Municipal Corp.* |
| *AMT: Subject to alternative minimum tax.* |
| *BAM: Build America Mutual* |
| *GTY: Guaranty Agreement* |
| *INS: Insured* |
| *LIQ: Liquidity Facility* |
| *LOC: Letter of Credit* |
| *MUNIPSA: SIFMA Municipal Swap Index Yield* |
| *SIFMA: Securities Industry and Financial Markets Association* |
| *SPA: Standby Bond Purchase Agreement* |

---

------

***Fair Value Measurements***

*Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.*

*The following is a summary of the inputs used as of January 31, 2023 in valuing the Fund's investments.* 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Municipal Investments (a) | $— | $182545576 | $— | $182545576 |
| Open-End Investment Companies  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18505 |
| **Total** | **$18505** | **$182545576** | **$—** | **$182564081** |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;*(a)* *See Investment Portfolio for additional detailed categorizations.* 

**OBTAIN AN OPEN-END FUND PROSPECTUS**

**To obtain a summary prospectus, if available, or prospectus, download one from fundsus.dws.com, talk to your financial representative or call (800) 728-3337. We advise you to carefully consider the product's objectives, risks, charges and expenses before investing. The summary prospectus and prospectus contain this and other important information about the investment product. Please read the prospectus carefully before you invest.**

**CLOSED-END FUNDS**

Closed-end funds, unlike open-end funds, are not continuously offered. There is a one time public offering and once issued, shares of closed-end funds are sold in the open market through a stock exchange. Shares of closed-end funds frequently trade at a discount to net asset value. The price of the fund's shares is determined by a number of factors, several of which are beyond the control of the fund. Therefore, the fund cannot predict whether its shares will trade at, below or above net asset value.

The brand DWS represents DWS Group GmbH & Co. KGaA and any of its subsidiaries such as DWS Distributors, Inc. which offers investment products or DWS Investment Management Americas Inc. and RREEF America L.L.C. which offer advisory services.

NO BANK GUARANTEE \| NOT FDIC INSURED \| MAY LOSE VALUE

DSTMBF-PH1

R-080548-2 (1/25)

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** DEUTSCHE DWS MUNICIPAL TRUST

- **b. Investment Company Act file number:** 811-02671

- **c. CIK number of Registrant:** 0000203142

- **d. LEI of Registrant:** PXMELE24BHVOU00K5462

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

  - **Street Address 1:** 875 Third Avenue

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10022-6225

  - **Telephone number:** 212-454-4500

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

- **a. Name of Series:** DWS Short-Term Municipal Bond Fund

- **b. EDGAR series identifier (if any):** S000031144

- **c. LEI of Series:** HQI7L66EK0KEA7WU8D48

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

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**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:** $187177637.71

**Total Liabilities:** $4101555.99

**Net Assets:** $183076081.72

**Delayed Delivery Securities:** $3836362.50

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -249.05000000 | **1-Year:** -8372.84000000 | **5-Year:** -13272.82000000 | **10-Year:** -2419.96000000 | **30-Year:** -332.61000000

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

- **3-Month:** -64.39000000 | **1-Year:** -944.14000000 | **5-Year:** -1278.07000000 | **10-Year:** -16.54000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000096619 | 1.66%                | 0.20%                | 1.23%                |
| Class ID C000096618 | 1.59%                | 0.23%                | 1.05%                |
| Class ID C000096616 | 1.65%                | 0.19%                | 1.22%                |
| Class ID C000096620 | 1.67%                | 0.21%                | 1.24%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-328400.02              | $3194397.79                                |
| Month 2  | $-80996.53               | $146867.03                                 |
| Month 3  | $-123438.90              | $1970052.09                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| State of New York Mortgage Agency                                         | NEW YORK ST MTGE AGY HOMEOWNER MTGE REVENUE                        | CUSIP: 649883L29<br>LEI: 549300ZQWNLLIG564027 | Long             | DBT              | MUN               | US        |    930000 | PA      | $934498.78    | 0.51%             | 2046-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tennessee Housing Development Agency                                      | TENNESSEE HSG DEV AGY RSDL FIN PROGRAM REVENUE                     | CUSIP: 880461BD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $24935.14     | 0.01%             | 2038-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| County of Hillsborough FL Solid Waste & Resource Recovery Revenue         | HILLSBOROUGH CNTY FL SOL WST & RESOURCE RECOVERY REVENUE           | CUSIP: 432342DL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2362961.93   | 1.29%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                       | NEW YORK NY                                                        | CUSIP: 64966LCP4<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    700000 | PA      | $700000.00    | 0.38%             | 2040-08-01      | Variable      | 1.15%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                | Michigan Finance Authority Student Loan Asset-Backed Notes 2021-1  | CUSIP: 59447TV83<br>LEI: N/A                  | Long             |  | MUN               | US        |   1109300 | PA      | $1035443.58   | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| City of Newark NJ                                                         | NEWARK NJ                                                          | CUSIP: 650367SE6<br>LEI: 5493008RBPM01QHRYX34 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3000730.20   | 1.64%             | 2023-02-17      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Village Community Development District No 13                              | VLG FL CDD #13 SPL ASSMNT REVENUE                                  | CUSIP: 92708HAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    245000 | PA      | $240348.97    | 0.13%             | 2024-05-01      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                    | CALIFORNIA ST MUNI FIN AUTH REVENUE                                | CUSIP: 13048VBF4<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    500000 | PA      | $528108.60    | 0.29%             | 2026-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Long Island Power Authority                                               | LONG ISLAND NY PWR AUTH ELEC SYS REVENUE                           | CUSIP: 542691GE4<br>LEI: 1R46U5SYJ63KQXF39168 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $980544.60    | 0.54%             | 2038-09-01      | Variable      | 2.11%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                               | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE                  | CUSIP: 56035DEE8<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2114933.80   | 1.16%             | 2052-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                 | HOUSTON TX ARPT SYS REVENUE                                        | CUSIP: 442349AG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $524004.55    | 0.29%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fort Bend Independent School District                                     | FORT BEND TX INDEP SCH DIST                                        | CUSIP: 346843UW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $999688.70    | 0.55%             | 2052-08-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                            | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                            | CUSIP: 6461363E9<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1030983.20   | 0.56%             | 2024-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Transbay Joint Powers Authority                                           | TRANSBAY JT POWERS AUTH CA                                         | CUSIP: 89356CBP0<br>LEI: 549300WC0UP8WU8GYU95 | Long             | DBT              | MUN               | US        |    110000 | PA      | $104085.59    | 0.06%             | 2049-10-01      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| West Virginia Economic Development Authority                              | WEST VIRGINIA ST ECON DEV AUTH SOL WST DISP FACS                   | CUSIP: 95648VBJ7<br>LEI: 549300WW88TKKF5H1220 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $987884.30    | 0.54%             | 2045-07-01      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| Texas Municipal Gas Acquisition & Supply Corp III                         | TEXAS ST MUNI GAS ACQUISITION& SPLY CORP III GAS SPLY REVEN        | CUSIP: 88256HBE7<br>LEI: 0UDITKOYW0YKG3BBP242 | Long             | DBT              | MUN               | US        |    500000 | PA      | $531696.80    | 0.29%             | 2029-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chautauqua County Capital Resource Corp                                   | CHAUTAUQUA CNTY NY CAPITAL RESOURCE CORP EXEMPT FACS REVENUE       | CUSIP: 16254PAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1990714.80   | 1.09%             | 2042-04-01      | Variable      | 1.30%                 | No            |                  2 | On Loan: No      |
| Missouri Higher Education Loan Authority                                  | Missouri Higher Education Loan Authority                           | CUSIP: 606072LC8<br>LEI: 549300MTJ0T46T0MPL41 | Long             |  | MUN               | US        |   1597466 | PA      | $1419912.73   | 0.78%             |  |  |  | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development Bank                     | CALIFORNIA ST INFRASTRUCTURE & ECON DEV BANK REVENUE               | CUSIP: 13034A2R0<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1999967.60   | 1.09%             | 2050-01-01      | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                       | WISCONSIN ST HLTH & EDUCTNL FACS AUTH REVENUE                      | CUSIP: 97712DP34<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000330.40   | 0.55%             | 2054-08-15      | Floating      | 2.31%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                          | FLORIDA ST DEV FIN CORP                                            | CUSIP: 340618DF1<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    500000 | PA      | $499229.05    | 0.27%             | 2057-07-01      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| City & County of Denver CO Airport System Revenue                         | DENVER CITY & CNTY CO ARPT REVENUE                                 | CUSIP: 249182RW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $537507.15    | 0.29%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Housing Finance Agency                                     | NORTH CAROLINA ST HSG FIN AGY HOMEOWNERSHIP REVENUE                | CUSIP: 658207TZ8<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |    360000 | PA      | $362822.18    | 0.20%             | 2047-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Housing Finance Authority                                     | CONNECTICUT ST HSG FIN AUTH HSG MTGE FIN PROGRAM                   | CUSIP: 20775CQB3<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |    450000 | PA      | $453576.29    | 0.25%             | 2047-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                      | CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE                       | CUSIP: 167593Y97<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $880190.81    | 0.48%             | 2025-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lake Charles Harbor & Terminal District                                   | LAKE CHARLES LA HARBOR & TERMINAL DIST                             | CUSIP: 507739BB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2833498.50   | 1.55%             | 2051-12-01      | Variable      | 1.00%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                  | ARIZONA INDL DEV AUTH HOSP REVENUE                                 | CUSIP: 04052EAJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $225229.04    | 0.12%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Community College District/CA                                 | LOS ANGELES CA CMNTY CLG DIST                                      | CUSIP: 54438CYV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2083904.40   | 1.14%             | 2024-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Development Authority of Burke County/The                                 | BURKE CNTY GA DEV AUTH POLL CONTROL REVENUE                        | CUSIP: 121342PN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1199878.44   | 0.66%             | 2045-11-01      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                            | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE                  | CUSIP: 09182TBC0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   2885000 | PA      | $2886173.33   | 1.58%             | 2053-04-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Troy Capital Resource Corp                                                | TROY NY CAPITAL RESOURCE CORP REVENUE                              | CUSIP: 897579BL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $545453.50    | 0.30%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Stadium & Exposition District                                   | LOUISIANA STADIUM & EXPOSITION DIST LA                             | CUSIP: 546410CE9<br>LEI: 5493000QEHWDGVGH7J62 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001421.70   | 0.55%             | 2023-07-03      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisa Industrial Development Authority                                   | LOUISA VA INDL DEV AUTH POLL CONTROL REVENUE                       | CUSIP: 546068AW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    950000 | PA      | $923464.60    | 0.50%             | 2035-11-01      | Variable      | 1.65%                 | No            |                  2 | On Loan: No      |
| Port of Greater Cincinnati Development Authority                          | PORT AUTH OF GTR CINCINNATI DEV AUTH OH REVENUE                    | CUSIP: 73357CAA7<br>LEI: 549300IK2RCZBY62ST97 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1497761.55   | 0.82%             | 2023-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                           | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE        | CUSIP: 13013JBJ4<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2031744.60   | 1.11%             | 2053-05-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Hotel Occupancy Tax & Special Revenue                  | HOUSTON TX HOTEL OCCUPANCY TAX & SPL REVENUE                       | CUSIP: 44237NKT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1735000 | PA      | $1883146.27   | 1.03%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Peninsula Ports Authority                                                 | PENINSULA VA PORTS AUTH COAL TERMINAL REVENUE                      | CUSIP: 707162BE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $756796.65    | 0.41%             | 2033-10-01      | Variable      | 3.80%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                      | TRIBOROUGH NY BRIDGE & TUNNEL AUTH PAYROLL MOBILITY TAX            | CUSIP: 89602HFB8<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1309275.38   | 0.72%             | 2024-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Wisconsin                                                        | WISCONSIN ST                                                       | CUSIP: 97705MXA8<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |    690000 | PA      | $789856.87    | 0.43%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Higher Education Student Loan Corp                               | Kentucky Higher Education Student Loan Corp                        | CUSIP: 49130NFB0<br>LEI: N/A                  | Long             |  | MUN               | US        |    729833 | PA      | $680694.67    | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                  | ARIZONA INDL DEV AUTH HOSP REVENUE                                 | CUSIP: 04052EAH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $220312.98    | 0.12%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisville/Jefferson County Metropolitan Government                       | LOUISVILLE & JEFFERSON CNTY KY MET GOVT POLL CONTROL REVENUE       | CUSIP: 546749AU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2722063.50   | 1.49%             | 2027-11-01      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| Bay Area Toll Authority                                                   | BAY AREA CA TOLL AUTH TOLL BRIDGE REVENUE                          | CUSIP: 072024SR4<br>LEI: 5493001FUZGUQMIP5D78 | Long             | DBT              | MUN               | US        |   1900000 | PA      | $1910346.83   | 1.04%             | 2045-04-01      | Floating      | 2.76%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                                   | PORT AUTH OF NEW YORK & NEW JERSEY NY                              | CUSIP: 73358XBY7<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |    750000 | PA      | $818882.78    | 0.45%             | 2027-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                           | NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE           | CUSIP: 64972GZB3<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |    200000 | PA      | $200000.00    | 0.11%             | 2045-06-15      | Variable      | 1.20%                 | No            |                  2 | On Loan: No      |
| Coconino County Pollution Control Corp                                    | COCONINO CNTY AZ POLL CONTROLCORP                                  | CUSIP: 191855BK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $997968.60    | 0.55%             | 2032-09-01      | Variable      | 1.88%                 | No            |                  2 | On Loan: No      |
| City of Austin TX Water & Wastewater System Revenue                       | AUSTIN TX WTR & WSTWTR SYS REVENUE                                 | CUSIP: 052477PF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1047420.30   | 0.57%             | 2024-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                | MICHIGAN ST FIN AUTH REVENUE                                       | CUSIP: 59447TU68<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1139396.00   | 0.62%             | 2038-10-15      | Variable      | 1.20%                 | No            |                  2 | On Loan: No      |
| State of Connecticut Special Tax Revenue                                  | CONNECTICUT ST SPL TAX OBLIG REVENUE                               | CUSIP: 207758M26<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $532673.45    | 0.29%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Housing Finance Authority                                     | CONNECTICUT ST HSG FIN AUTH HSG MTGE FIN PROGRAM                   | CUSIP: 20775HSV6<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2480515.25   | 1.35%             | 2050-11-15      | Floating      | 1.96%                 | No            |                  2 | On Loan: No      |
| Capital Projects Finance Authority/FL                                     | CAPITAL PROJS FL FIN AUTH STUDENT HSG REVENUE                      | CUSIP: 140427BG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $515137.30    | 0.28%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Seattle WA Municipal Light & Power Revenue                        | SEATTLE WA MUNI LIGHT & PWR REVENUE                                | CUSIP: 812643WU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    355000 | PA      | $348313.79    | 0.19%             | 2045-05-01      | Floating      | 1.91%                 | No            |                  2 | On Loan: No      |
| Minnesota Municipal Gas Agency                                            | MINNESOTA MUNI GAS AGY COMMODITY SPLY REVENUE                      | CUSIP: 60406UAM9<br>LEI: 549300SISI6N1C6S3136 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1529584.80   | 0.84%             | 2052-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| NUVEEN AMT FREE MUNI CREDIT                                               | NUVEEN AMT FREE MUNI CREDIT                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.55%             | 2031-12-01      | Variable      | 2.11%                 | No            |                  2 | On Loan: No      |
| Fort Bend Independent School District                                     | FORT BEND TX INDEP SCH DIST                                        | CUSIP: 346843RY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    390000 | PA      | $368815.01    | 0.20%             | 2050-08-01      | Variable      | 0.88%                 | No            |                  2 | On Loan: No      |
| Troy Capital Resource Corp                                                | TROY NY CAPITAL RESOURCE CORP REVENUE                              | CUSIP: 897579BK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $315214.20    | 0.17%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chesapeake Bay Bridge & Tunnel District                                   | CHESAPEAKE BAY VA BRIDGE & TUNNEL DIST REVENUE                     | CUSIP: 16514PAG4<br>LEI: 549300JGWE66ZSSOYN09 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1268386.13   | 0.69%             | 2023-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Lowndes MS                                                      | LOWNDES CNTY MS SOL WST DISP & POLL CONTROL REVENUE                | CUSIP: 54877EAC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $472490.80    | 0.26%             | 2037-04-01      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                | MICHIGAN ST FIN AUTH REVENUE                                       | CUSIP: 59447T3W1<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1721553.58   | 0.94%             | 2047-04-15      | Floating      | 2.41%                 | No            |                  2 | On Loan: No      |
| Plaza at Noah's Ark Community Improvement District                        | PLAZA AT NOAHS ARK CMNTY IMPT DIST MO TAX INCR & IMPT              | CUSIP: 72813LAH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $149581.08    | 0.08%             | 2023-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| San Diego Unified School District/CA                                      | SAN DIEGO CA UNIF SCH DIST                                         | CUSIP: 797356FA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3120743.10   | 1.70%             | 2024-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                       | WISCONSIN ST HLTH & EDUCTNL FACS AUTH REVENUE                      | CUSIP: 97712JGV9<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1077340.50   | 0.59%             | 2054-08-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                    | CALIFORNIA ST MUNI FIN AUTH SOL WST DISP REVENUE                   | CUSIP: 13048RAL1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    320000 | PA      | $322586.50    | 0.18%             | 2041-10-01      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                         | ILLINOIS ST                                                        | CUSIP: 452153DE6<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    770000 | PA      | $801292.72    | 0.44%             | 2025-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Puget Sound Regional Transit Authority                            | CENTRL PUGET SOUND WA REGL TRANSIT AUTH SALES & USE TAX            | CUSIP: 15504RGN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1615000 | PA      | $1572529.05   | 0.86%             | 2045-11-01      | Floating      | 1.86%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                      | TRIBOROUGH NY BRIDGE & TUNNEL AUTH REVENUES                        | CUSIP: 89602RHX6<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1339905.25   | 0.73%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bay Area Toll Authority                                                   | BAY AREA CA TOLL AUTH TOLL BRIDGE REVENUE                          | CUSIP: 072024ST0<br>LEI: 5493001FUZGUQMIP5D78 | Long             | DBT              | MUN               | US        |   3940000 | PA      | $3973346.58   | 2.17%             | 2036-04-01      | Floating      | 2.91%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                  | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE                     | CUSIP: 650116CC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2524680.00   | 1.38%             | 2024-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                 | NEW JERSEY ST ECON DEV AUTH MTR VEHCL SURCHARGE REVENUE            | CUSIP: 64578JBA3<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    195000 | PA      | $195142.90    | 0.11%             | 2029-07-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| North Dakota Housing Finance Agency                                       | NORTH DAKOTA ST HSG FIN AGY                                        | CUSIP: 658909TY2<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |    925000 | PA      | $925000.00    | 0.51%             | 2043-01-01      | Floating      | 1.86%                 | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development Bank                     | CALIFORNIA ST INFRASTRUCTURE & ECON DEV BANK REVENUE               | CUSIP: 13034AQ45<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |    570000 | PA      | $562644.49    | 0.31%             | 2047-08-01      | Floating      | 2.01%                 | No            |                  2 | On Loan: No      |
| New Mexico Mortgage Finance Authority                                     | NEW MEXICO ST MTGE FIN AUTH                                        | CUSIP: 6472007V0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $505619.55    | 0.28%             | 2049-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Texas Water Development Board                                             | TEXAS WTR DEV BRD ST WTR IMPLEMENTATION REVENUE FUND               | CUSIP: 88285AAD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $522821.25    | 0.29%             | 2024-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                               | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE                  | CUSIP: 56035DAW2<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    750000 | PA      | $754313.10    | 0.41%             | 2048-08-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Allen OH Hospital Facilities Revenue                            | ALLEN CNTY OH HOSP FACS REVENUE                                    | CUSIP: 01757LGN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1019095.90   | 0.56%             | 2023-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tennessee Energy Acquisition Corp                                         | TENNESSEE ST ENERGY ACQUISITION CORP GAS REVENUE                   | CUSIP: 880443HZ2<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2252406.38   | 1.23%             | 2048-05-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Southeast Alabama Gas Supply District/The                                 | S E ALABAMA ST GAS SPLY DIST GAS SPLY REVENUE                      | CUSIP: 84131TAQ5<br>LEI: 549300BL04JIB2GJZ178 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1202830.32   | 0.66%             | 2049-06-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                          | KENTUCKY ST PUBLIC ENERGY AUTH GAS SPLY REVENUE                    | CUSIP: 74440DBD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1435000 | PA      | $1435137.04   | 0.78%             | 2049-01-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| County of King WA Sewer Revenue                                           | KING CNTY WA SWR REVENUE                                           | CUSIP: 495290EF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1155000 | PA      | $1125415.95   | 0.61%             | 2040-01-01      | Floating      | 1.89%                 | No            |                  2 | On Loan: No      |
| Troy Capital Resource Corp                                                | TROY NY CAPITAL RESOURCE CORP REVENUE                              | CUSIP: 897579BM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $553279.10    | 0.30%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port of Oakland                                                           | PORT OF OAKLAND CA                                                 | CUSIP: 735000TF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $551149.70    | 0.30%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pittsburgh Water & Sewer Authority                                        | PITTSBURGH PA WTR & SWR AUTH                                       | CUSIP: 725304UC1<br>LEI: 54930034DVH6W22T1E86 | Long             | DBT              | MUN               | US        |    500000 | PA      | $499645.10    | 0.27%             | 2040-09-01      | Floating      | 2.31%                 | No            |                  2 | On Loan: No      |
| Michigan State University                                                 | MICHIGAN ST UNIV REVENUES                                          | CUSIP: 594712NA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300000.00    | 0.16%             | 2030-08-15      | Variable      | 1.70%                 | No            |                  2 | On Loan: No      |
| Sports & Exhibition Authority of Pittsburgh and Allegheny County          | PITTSBURGH & ALLEGHENY CNTY PA SPORTS & EXHIBITION AUTH HOTE       | CUSIP: 724791CF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $984215.49    | 0.54%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power                                   | LOS ANGELES CA DEPT OF WTR & PWR REVENUE                           | CUSIP: 544532GA6<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1068027.00   | 0.58%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Cleveland OH Airport System Revenue                               | CLEVELAND OH ARPT SYS REVENUE                                      | CUSIP: 186352RL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1034386.70   | 0.57%             | 2025-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                    | CALIFORNIA ST MUNI FIN AUTH REVENUE                                | CUSIP: 13048VBE7<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1050746.20   | 0.57%             | 2025-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Public Finance Authority                                       | CALIFORNIA PUBLIC FIN AUTH SENIOR LIVING REVENUE                   | CUSIP: 13057GAG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1422525.30   | 0.78%             | 2027-11-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Ohio Higher Educational Facility Commission                               | OHIO ST HGR EDUCTNL FAC COMMISSION                                 | CUSIP: 67756DF84<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |   1045000 | PA      | $1159622.81   | 0.63%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp                                    | NEW YORK CITY NY HSG DEV CORP MF HSG REVENUE                       | CUSIP: 64972ENB1<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $961757.60    | 0.53%             | 2060-05-01      | Variable      | 1.12%                 | No            |                  2 | On Loan: No      |
| Eastern Municipal Water District                                          | ESTRN CA MUNI WTR DIST WTR & WSTWTR REVENUE                        | CUSIP: 27627TCG5<br>LEI: 549300ZCFVRFDIRWK089 | Long             | DBT              | MUN               | US        |   1630000 | PA      | $1619306.55   | 0.88%             | 2046-07-01      | Floating      | 1.76%                 | No            |                  2 | On Loan: No      |
| City of Sparks NV                                                         | SPARKS NV TOURISM IMPT DIST #1 REVENUE                             | CUSIP: 846562AC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $151263.57    | 0.08%             | 2024-06-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Geisinger Authority                                                       | GEISINGER PA AUTH HLTH SYS REVENUE                                 | CUSIP: 368497JX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1070688.40   | 0.58%             | 2043-04-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                  | ARIZONA INDL DEV AUTH HOSP REVENUE                                 | CUSIP: 04052EBE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1238759.72   | 0.68%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                      | TRIBOROUGH NY BRIDGE & TUNNEL AUTH PAYROLL MOBILITY TAX            | CUSIP: 89602HDT1<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3111634.50   | 1.70%             | 2024-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                 | HOUSTON TX ARPT SYS REVENUE                                        | CUSIP: 442349AH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1066261.50   | 0.58%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                     | PENNSYLVANIA ST ECON DEV FING AUTH SOLID WASTE DISPOSAL REV        | CUSIP: 708692BG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3000057.60   | 1.64%             | 2045-08-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                | MICHIGAN ST FIN AUTH REVENUE                                       | CUSIP: 59447T3Y7<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    750000 | PA      | $758351.85    | 0.41%             | 2023-07-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Boone KY                                                        | BOONE CNTY KY POLL CONTROL REVENUE                                 | CUSIP: 098792AQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $756710.33    | 0.41%             | 2027-08-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                  | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE                     | CUSIP: 650116FC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1622735.70   | 0.89%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Manhattan KS                                                      | MANHATTAN KS HLTH CARE FAC REVENUE                                 | CUSIP: 563017EG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $338097.64    | 0.18%             | 2028-06-01      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                             | MASSACHUSETTS ST EDUCTNL FING AUTH                                 | CUSIP: 57563RSJ9<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |    170000 | PA      | $146092.48    | 0.08%             | 2037-07-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Plaza at Noah's Ark Community Improvement District                        | PLAZA AT NOAHS ARK CMNTY IMPT DIST MO TAX INCR & IMPT              | CUSIP: 72813LAJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $196724.58    | 0.11%             | 2024-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily VRD Certificates                                        | FEDERAL HOME LOAN MTGE CORP VA MF VARIABLE RATE CTFS               | CUSIP: 31350AAU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $107953.36    | 0.06%             | 2027-05-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                 | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE                   | CUSIP: 57421CAU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1079994.50   | 0.59%             | 2045-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| North Texas Tollway Authority                                             | N TX TOLLWAY AUTH REVENUE                                          | CUSIP: 66285WK39<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3149984.10   | 1.72%             | 2025-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                          | FLORIDA DEV FIN CORP SURFACE TRANPRTN FAC REVENUE                  | CUSIP: 34061YAC4<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $924086.30    | 0.50%             | 2049-01-01      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |
| BlackRock Liquidity Funds MuniCash Portfolio, Institutional Shares        | BlackRock Liquidity Funds MuniCash Portfolio, Institutional Shares | CUSIP: 09248U841<br>LEI: 549300RWBJ885673DL84 | Long             | STIV             | RF                | US        |        28 | NS      | $27.61        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| State of Connecticut                                                      | CONNECTICUT ST                                                     | CUSIP: 20772JA51<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2111795.80   | 1.15%             | 2029-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                       | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                        | CUSIP: 7087964R5<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   1590000 | PA      | $1599806.01   | 0.87%             | 2046-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                 | INDIANA ST FIN AUTH REVENUE                                        | CUSIP: 45506EDH3<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    705000 | PA      | $687752.95    | 0.38%             | 2039-03-01      | Floating      | 1.96%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                               | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE                  | CUSIP: 56035DAK8<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1865000 | PA      | $1872534.04   | 1.02%             | 2048-04-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Housing Finance Authority                                     | CONNECTICUT ST HSG FIN AUTH HSG MTGE FIN PROGRAM                   | CUSIP: 20775CTX2<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |    555000 | PA      | $559339.49    | 0.31%             | 2047-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Housing & Economic Development Authority Home Ownership Revenue | WISCONSIN ST HSG & ECON DEV AUTH HOME OWNERSHIP REVENUE            | CUSIP: 97689QDD5<br>LEI: 549300AT0SEG8YQT2K79 | Long             | DBT              | MUN               | US        |    710000 | PA      | $706235.86    | 0.39%             | 2046-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Lee County Industrial Development Authority/FL                            | LEE CNTY FL INDL DEV AUTH HLTHCR FACS REVENUE                      | CUSIP: 52349EEN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $967021.40    | 0.53%             | 2026-10-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Charlotte-Mecklenburg Hospital Authority/The                              | CHARLOTTE-MECKLENBURG NC HOSPAUTH HLTH CARE SYS REVENUE            | CUSIP: 160853VA2<br>LEI: 549300XOH4JU704GMZ32 | Long             | DBT              | MUN               | US        |    520000 | PA      | $520000.00    | 0.28%             | 2042-01-15      | Variable      | 1.27%                 | No            |                  2 | On Loan: No      |
| County of Franklin OH                                                     | FRANKLIN CNTY OH REVENUE                                           | CUSIP: 353202FK5<br>LEI: 549300VCBUC1RZE7KL42 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $999921.40    | 0.55%             | 2046-12-01      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                     | MET TRANSPRTN AUTH NY DEDICATED TAX FUND                           | CUSIP: 59259N8Q9<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.05%             | 2031-11-01      | Variable      | 1.15%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                         | SOUTHEAST ENERGY AUTH AL COMMODITY SPLY REVENUE                    | CUSIP: 84136FBB2<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1365000 | PA      | $1431123.19   | 0.78%             | 2053-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                                   | PORT AUTH OF NEW YORK & NEW JERSEY NY                              | CUSIP: 73358XBZ4<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |    660000 | PA      | $732066.72    | 0.40%             | 2028-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development Bank                     | CALIFORNIA ST INFRASTRUCTURE & ECON DEV BANK REVENUE               | CUSIP: 13034AD23<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1040859.49   | 0.57%             | 2055-08-01      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| North Dakota Housing Finance Agency                                       | NORTH DAKOTA ST HSG FIN AGY                                        | CUSIP: 658909MA1<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |    505000 | PA      | $508836.79    | 0.28%             | 2047-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Water District of Southern California                        | MET WTR DIST OF STHRN CA WTRWKS REVENUE                            | CUSIP: 59266TNV9<br>LEI: 5493003GD0S0P56RLT45 | Long             | DBT              | MUN               | US        |    880000 | PA      | $874871.62    | 0.48%             | 2037-07-01      | Floating      | 1.80%                 | No            |                  2 | On Loan: No      |
| San Diego Association of Governments                                      | SAN DIEGO ASSN OF GOVTS CA CAPITAL GRANT RECEIPTS REVENUE          | CUSIP: 797258AE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1438820.25   | 0.79%             | 2027-11-15      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| Wisconsin Housing & Economic Development Authority Housing Revenue        | WISCONSIN ST HSG & ECON DEV AUTH HSG REVENUE                       | CUSIP: 9769043D2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2021950.20   | 1.10%             | 2053-11-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                 | HOUSTON TX ARPT SYS REVENUE                                        | CUSIP: 442349CB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2665653.75   | 1.46%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Connecticut                                                      | CONNECTICUT ST                                                     | CUSIP: 20772KSB6<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1074452.40   | 0.59%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tempe Industrial Development Authority                                    | TEMPE AZ INDL DEV AUTH REVENUE                                     | CUSIP: 87972MBW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1746201.80   | 0.95%             | 2026-12-01      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                          | FLORIDA ST DEV FIN CORP SENIOR LIVING REVENUE                      | CUSIP: 34061WBQ6<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   1020000 | PA      | $925264.64    | 0.51%             | 2026-06-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                     | PENNSYLVANIA ST ECON DEV FING AUTH SOLID WASTE DISPOSAL REV        | CUSIP: 708692BM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000272.30   | 0.55%             | 2049-04-01      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                       | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                        | CUSIP: 7087962J5<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |    360000 | PA      | $359493.12    | 0.20%             | 2041-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| South Dakota Housing Development Authority                                | SOUTH DAKOTA ST HSG DEV AUTH                                       | CUSIP: 83756CQM0<br>LEI: 549300G853EK61667C18 | Long             | DBT              | MUN               | US        |    855000 | PA      | $861452.60    | 0.47%             | 2047-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Northern Tobacco Securitization Corp                                      | NTHRN AK TOBACCO SECURITIZATION CORP TOBACCO SETTLEMENT REVE       | CUSIP: 66585VBZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     80000 | PA      | $79506.20     | 0.04%             | 2031-06-01      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Duval County Public Schools                                               | DUVAL CNTY FL SCH BRD COPS                                         | CUSIP: 267169GY0<br>LEI: 254900RS6MO5WEO2WC42 | Long             | DBT              | MUN               | US        |    500000 | PA      | $530005.85    | 0.29%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Nevada Department of Business & Industry                         | DIRECTOR OF THE ST OF NEVADA DEPT OF BUSINESS & INDUSTRY           | CUSIP: 25459JAF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300261.57    | 0.16%             | 2026-12-01      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Ohio Higher Educational Facility Commission                               | OHIO ST HGR EDUCTNL FAC COMMISSION                                 | CUSIP: 67756DF76<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |    995000 | PA      | $1083743.55   | 0.59%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Grand Parkway Transportation Corp                                         | GRAND PARKWAY TRANSPRTN CORP T                                     | CUSIP: 38612PAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1040000 | PA      | $1040000.00   | 0.57%             | 2023-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ohio Turnpike & Infrastructure Commission                                 | OHIO ST TURNPIKE COMMISSION                                        | CUSIP: 67760HNL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2567247.75   | 1.40%             | 2024-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mission Economic Development Corp                                         | MISSION TX ECON DEV CORP SOL WST DISP REVENUE                      | CUSIP: 605155BR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $650065.26    | 0.36%             | 2046-05-01      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                       | NEW YORK NY                                                        | CUSIP: 64966FA87<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.05%             | 2036-04-01      | Variable      | 1.15%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                       | NEW YORK NY                                                        | CUSIP: 64966QWL0<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    740000 | PA      | $740000.00    | 0.40%             | 2042-04-01      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                             | MASSACHUSETTS ST EDUCTNL FING AUTH                                 | CUSIP: 57563RRP6<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |     80000 | PA      | $76363.62     | 0.04%             | 2036-07-01      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Amherst Industrial Development Agency                                     | AMHERST NY INDL DEV AGY MF HSG REVENUE                             | CUSIP: 031370AA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2032936.80   | 1.11%             | 2026-04-01      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| City & County of Denver CO Airport System Revenue                         | DENVER CITY & CNTY CO ARPT REVENUE                                 | CUSIP: 249182KZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2148341.20   | 1.17%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| George L Smith II Congress Center Authority                               | GEO L SMITH II GA CONGRESS CTR AUTH                                | CUSIP: 37255MAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $671634.90    | 0.37%             | 2031-01-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                         | ILLINOIS ST                                                        | CUSIP: 452152ML2<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010951.70   | 0.55%             | 2023-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Troy Capital Resource Corp                                                | TROY NY CAPITAL RESOURCE CORP REVENUE                              | CUSIP: 897579BA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1057626.70   | 0.58%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State Health & Educational Facilities Authority               | CONNECTICUT ST HLTH & EDUCTNL FACS AUTH REVENUE                    | CUSIP: 20775DUX8<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1498367.70   | 0.82%             | 2048-07-01      | Variable      | 2.80%                 | No            |                  2 | On Loan: No      |
| Charlotte-Mecklenburg Hospital Authority/The                              | CHARLOTTE-MECKLENBURG NC HOSP AUTH HLTH CARE SYS REVENUE           | CUSIP: 160853VE4<br>LEI: 549300XOH4JU704GMZ32 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1134336.00   | 0.62%             | 2050-01-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Oregon Housing & Community Services Department                   | OREGON ST HSG & CMNTY SVCS DEPT MTGE REVENUE                       | CUSIP: 686087SU2<br>LEI: 549300N3PYWYJ0Z8N757 | Long             | DBT              | MUN               | US        |    595000 | PA      | $594417.85    | 0.32%             | 2036-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                       | WISCONSIN ST HLTH & EDUCTNL FACS AUTH REVENUE                      | CUSIP: 97712JGW7<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1077631.90   | 0.59%             | 2054-08-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corp                                         | TOBACCO SETTLEMENT FING CORP NJ                                    | CUSIP: 888808HA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1955000 | PA      | $2029061.46   | 1.11%             | 2025-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Town of Oyster Bay NY                                                     | OYSTER BAY NY                                                      | CUSIP: 692160RT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    315000 | PA      | $340649.95    | 0.19%             | 2027-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth Financing Authority                                          | CMWLTH FING AUTH PA TOBACCO MASTER SETTLEMENT PAYMENT REV          | CUSIP: 20282EAG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2148395.80   | 1.17%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                            | BLACK BELT ENERGY GAS DIST AL GAS SPLY REVENUE                     | CUSIP: 09182NCB4<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    665000 | PA      | $677392.34    | 0.37%             | 2052-07-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                         | ILLINOIS ST                                                        | CUSIP: 4521526F3<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006337.10   | 0.55%             | 2023-05-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Port of Oakland                                                           | PORT OF OAKLAND CA                                                 | CUSIP: 735000TH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $281552.18    | 0.15%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp                       | NEW HOPE CULTURAL ED FACS FIN CORP TX RETIREMENT FAC REVENUE       | CUSIP: 64542UGL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000351.60   | 1.09%             | 2026-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                               | VIRGINIA ST SMALL BUSINESS FING AUTH REVENUE                       | CUSIP: 928104NF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023400.40   | 0.56%             | 2029-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                         | ILLINOIS ST                                                        | CUSIP: 452153AG4<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    750000 | PA      | $811024.28    | 0.44%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                            | BLACK BELT ENERGY GAS DIST AL GAS PREPAY REVENUE                   | CUSIP: 09182RAF8<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2206370.32   | 1.21%             | 2048-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| BlackRock Liquidity Funds MuniCash Portfolio, Institutional Shares        | BlackRock Liquidity Funds MuniCash Portfolio, Institutional Shares | CUSIP: 09248U841<br>LEI: 549300RWBJ885673DL84 | Long             | STIV             | RF                | US        |     17523 | NS      | $17526.20     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Plaza at Noah's Ark Community Improvement District                        | PLAZA AT NOAHS ARK CMNTY IMPT DIST MO TAX INCR & IMPT              | CUSIP: 72813LAK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $218367.11    | 0.12%             | 2025-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Spring Branch Independent School District                                 | SPRING BRANCH TX INDEP SCH DIST                                    | CUSIP: 849476UX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1579327.80   | 0.86%             | 2025-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Houston Independent School District                                       | HOUSTON TX INDEP SCH DIST                                          | CUSIP: 442403PP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1004537.70   | 0.55%             | 2029-06-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Seattle WA Municipal Light & Power Revenue                        | SEATTLE WA MUNI LIGHT & PWR REVENUE                                | CUSIP: 812643SE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000536.20   | 1.09%             | 2046-11-01      | Floating      | 2.15%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-01

**Name of Applicant:** DEUTSCHE DWS MUNICIPAL TRUST

**Signature:** Diane Kenneally

**Name of Signer:** Diane Kenneally

**Title:** Treasurer and Chief Financial Officer