# EDGAR Filing Document

**Accession Number:** 0001020661
**File Stem:** 0001752724-25-181573
**Filing Date:** 2025-7
**Character Count:** 135122
**Document Hash:** 97309f0ca365317d58b5717d1c1ededb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-181573.hdr.sgml**: 20250729

**ACCESSION NUMBER**: 0001752724-25-181573

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250729

**DATE AS OF CHANGE**: 20250729

**PERIOD START**: 20250531

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NUVEEN MULTISTATE TRUST III
- **CENTRAL INDEX KEY:** 0001020661

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0531

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07943
- **FILM NUMBER:** 251158426

**BUSINESS ADDRESS:**
- **STREET 1:** JOHN NUVEEN & CO INC
- **STREET 2:** 333 W WACKER DRIVE 32ND FLOOR
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 3129178200

**MAIL ADDRESS:**
- **STREET 1:** JOHN NUVEEN & CO INC
- **STREET 2:** 333 W WACKER DR 32ND FLOOR
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NUVEEN  MULTISTATE TRUST III
- **DATE OF NAME CHANGE:** 20040108

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NUVEEN FLAGSHIP MULTISTATE TRUST III
- **DATE OF NAME CHANGE:** 19960807

## Series and Classes Contracts Data

### Nuveen North Carolina Municipal Bond Fund (Series ID: S000000562)

| Class ID   | Class Name                                          | Ticker Symbol   |
|:---|:---|:---|
| C000001556 | Nuveen North Carolina Municipal Bond Fund - Class A | FLNCX           |
| C000001559 | Nuveen North Carolina Municipal Bond Fund - Class I | FCNRX           |
| C000137685 | Class C                                             | FDCCX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Nuveen Multistate Trust III

- **b. Investment Company Act file number:** 811-07943

- **c. CIK number of Registrant:** 0001020661

- **d. LEI of Registrant:** 549300KF91725RB3OG60

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

  - **Street Address 1:** 333 W. Wacker Dr

  - **City:** Chicago

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60606

  - **Telephone number:** 312-917-7700

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

- **a. Name of Series:** Nuveen North Carolina Municipal Bond Fund

- **b. EDGAR series identifier (if any):** S000000562

- **c. LEI of Series:** MR4QVTHE7H776RYIWT58

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

- **a. Date of fiscal year-end:** 2025-05-31

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $508869309.00

**Total Liabilities:** $9349333.00

**Net Assets:** $499519976.00

**Delayed Delivery Securities:** $7583529.00

**Cash Not Reported:** $4202249.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -10.77000000 | **1-Year:** -2761.73000000 | **5-Year:** -14191.63000000 | **10-Year:** -216069.65000000 | **30-Year:** -166817.33000000

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** -76.52000000 | **10-Year:** -2013.19000000 | **30-Year:** -665.77000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000001556 | -2.05%               | -0.57%               | -0.46%               |
| Class ID C000001559 | -2.02%               | -0.55%               | -0.44%               |
| Class ID C000137685 | -2.11%               | -0.64%               | -0.53%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-89009.22               | $-11728402.18                              |
| Month 2  | $-22325.00               | $-4065476.49                               |
| Month 3  | $0.00                    | $-3414497.70                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| North Carolina State, Limited Obligation Bonds, Series 2020B                                                                                          | North Carolina State, Limited Obligation Bonds, Series 2020B                                                                                          | CUSIP: 65829QEE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $864637.38    | 0.17%             | 2032-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Department of Transportation, Private Activity Revenue Bonds, I-77 Hot Lanes Project, Series 2015                                      | North Carolina Department of Transportation, Private Activity Revenue Bonds, I-77 Hot Lanes Project, Series 2015                                      | CUSIP: 65820FAF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11170000 | PA      | $10703906.06  | 2.14%             | 2054-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sanford, North Carolina, Enterprise Systems Revenue Bonds, Refunding Series 2019                                                                      | Sanford, North Carolina, Enterprise Systems Revenue Bonds, Refunding Series 2019                                                                      | CUSIP: 800618BU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1805000 | PA      | $1643510.98   | 0.33%             | 2045-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Capital Appreciation Series 2019                                         | North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Capital Appreciation Series 2019                                         | CUSIP: 65830VAS9<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |   3600000 | PA      | $1096587.00   | 0.22%             | 2049-01-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Senior Lien Series 2024A                                                 | North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Senior Lien Series 2024A                                                 | CUSIP: 65830RDA4<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1979782.00   | 0.40%             | 2058-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission, Retirement Facility First Mortgage Revenue Bonds, Everyage, Series 2024B                                      | North Carolina Medical Care Commission, Retirement Facility First Mortgage Revenue Bonds, Everyage, Series 2024B                                      | CUSIP: 65820YTJ5<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1219955.18   | 0.24%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sampson County, North Carolina, Limited Obligaiton Bonds, Refunding Series 2015                                                                       | Sampson County, North Carolina, Limited Obligaiton Bonds, Refunding Series 2015                                                                       | CUSIP: 79588VAU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2445000 | PA      | $2457634.78   | 0.49%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Burke County, North Carolina, Limited Obligation Bonds, Series 2018                                                                                   | Burke County, North Carolina, Limited Obligation Bonds, Series 2018                                                                                   | CUSIP: 121358BG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $413246.08    | 0.08%             | 2029-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of North Carolina, Greensboro, General Revenue Bonds, Refunding Series 2017                                                                | University of North Carolina, Greensboro, General Revenue Bonds, Refunding Series 2017                                                                | CUSIP: 914719UV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1049488.50   | 0.21%             | 2030-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Guilford County, North Carolina, General Obligation Bonds, School Series 2025                                                                         | Guilford County, North Carolina, General Obligation Bonds, School Series 2025                                                                         | CUSIP: 401784X57<br>LEI: 549300OUKUGQGH8RCL96 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $960141.10    | 0.19%             | 2043-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Scotland County, North Carolina, Limited Obligation Bonds, Series 2018                                                                                | Scotland County, North Carolina, Limited Obligation Bonds, Series 2018                                                                                | CUSIP: 809323BM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    690000 | PA      | $715965.05    | 0.14%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Lutheran Services for the Aging, Series 2021A                           | North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Lutheran Services for the Aging, Series 2021A                           | CUSIP: 65821DYD7<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    295000 | PA      | $290005.18    | 0.06%             | 2031-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Onslow County, North Carolina, Combined Enterprise System Revenue Bonds, Series 2023                                                                  | Onslow County, North Carolina, Combined Enterprise System Revenue Bonds, Series 2023                                                                  | CUSIP: 682852DV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1843758.54   | 0.37%             | 2053-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1                                                            | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1                                                            | CUSIP: 74529JQF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3554000 | PA      | $2519001.63   | 0.50%             | 2033-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Sampson County, North Carolina, Limited Obligaiton Bonds, Refunding Series 2017                                                                       | Sampson County, North Carolina, Limited Obligaiton Bonds, Refunding Series 2017                                                                       | CUSIP: 79588VBR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3570000 | PA      | $3613881.37   | 0.72%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Huntersville, North Carolina, General Obligation Bonds, Public Improvement Series 2024                                                                | Huntersville, North Carolina, General Obligation Bonds, Public Improvement Series 2024                                                                | CUSIP: 445798GH8<br>LEI: 54930087GGCJ3BA5DF20 | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1421061.77   | 0.28%             | 2040-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Wake County, North Carolina, Limited Obligation Bonds, Series 2025B                                                                                   | Wake County, North Carolina, Limited Obligation Bonds, Series 2025B                                                                                   | CUSIP: 930876JG3<br>LEI: 5493007XQJHO082P1H29 | Long             | DBT              | MUN               | US        |   2570000 | PA      | $2820349.87   | 0.56%             | 2038-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pender County, North Carolina, Limited General Obligation Bonds, Series 2024A                                                                         | Pender County, North Carolina, Limited General Obligation Bonds, Series 2024A                                                                         | CUSIP: 706716DM6<br>LEI: 549300TW9ZHCIKDLQB34 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1110945.40   | 0.22%             | 2036-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina State, Limited Obligation Bonds, Refunding Series 2017B                                                                                | North Carolina State, Limited Obligation Bonds, Refunding Series 2017B                                                                                | CUSIP: 65829QCY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3275000 | PA      | $3400361.11   | 0.68%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Lutheran Services for the Aging, Series 2021A                           | North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Lutheran Services for the Aging, Series 2021A                           | CUSIP: 65821DYF2<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    550000 | PA      | $480640.05    | 0.10%             | 2041-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Lee County, North Carolina, Limited Obligation Bonds, Series 2018                                                                                     | Lee County, North Carolina, Limited Obligation Bonds, Series 2018                                                                                     | CUSIP: 523724AT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $591350.76    | 0.12%             | 2036-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Greenville Utilities Commission, North Carolina, Combined Enterprise System Revenue Bonds, Series 2025                                                | Greenville Utilities Commission, North Carolina, Combined Enterprise System Revenue Bonds, Series 2025                                                | CUSIP: 396321EY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $306497.65    | 0.06%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Scotland County, North Carolina, Limited Obligation Bonds, Series 2017                                                                                | Scotland County, North Carolina, Limited Obligation Bonds, Series 2017                                                                                | CUSIP: 809323AN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $519970.20    | 0.10%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Turnpike Authority, Monroe Expressway Toll  Revenue Bonds, Series 2017A                                                                | North Carolina Turnpike Authority, Monroe Expressway Toll  Revenue Bonds, Series 2017A                                                                | CUSIP: 65830UAC6<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1184722.68   | 0.24%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Davidson County, North Carolina, General Obligation Bonds, Limited Obligation Series 2016                                                             | Davidson County, North Carolina, General Obligation Bonds, Limited Obligation Series 2016                                                             | CUSIP: 238603BH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1795000 | PA      | $1825654.47   | 0.37%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina State, Limited Obligation Bonds, Refunding Series 2017B                                                                                | North Carolina State, Limited Obligation Bonds, Refunding Series 2017B                                                                                | CUSIP: 65829QCX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $270538.48    | 0.05%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Charlotte, North Carolina, Water and Sewer System Revenue Bonds, Refunding Series 2018                                                                | Charlotte, North Carolina, Water and Sewer System Revenue Bonds, Refunding Series 2018                                                                | CUSIP: 161045PE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $505804.70    | 0.10%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Durham Capital Financing Corporation, Durham County, North Carolina, Limited Obligation Bonds, Refunding Series 2016                                  | Durham Capital Financing Corporation, Durham County, North Carolina, Limited Obligation Bonds, Refunding Series 2016                                  | CUSIP: 266780CN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1265000 | PA      | $1301394.43   | 0.26%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Asheville, North Carolina, General Obligation Bonds, Refunding Series 2023                                                                            | Asheville, North Carolina, General Obligation Bonds, Refunding Series 2023                                                                            | CUSIP: 044033SR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $494062.70    | 0.10%             | 2039-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Capital Facilities Financing Agency, Educational Facility Revenue Bonds, Wake Forest University, Series 2018                           | North Carolina Capital Facilities Financing Agency, Educational Facility Revenue Bonds, Wake Forest University, Series 2018                           | CUSIP: 65818PMZ9<br>LEI: 549300PWNPSB7G58A235 | Long             | DBT              | MUN               | US        |   7500000 | PA      | $7578288.00   | 1.52%             | 2048-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rowan County, North Carolina, Limited Obligation Bonds, Series 2024                                                                                   | Rowan County, North Carolina, Limited Obligation Bonds, Series 2024                                                                                   | CUSIP: 779473AV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1360000 | PA      | $1256224.93   | 0.25%             | 2044-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Union County, North Carolina, Enterprise System Revenue Bonds, Series 2019A                                                                           | Union County, North Carolina, Enterprise System Revenue Bonds, Series 2019A                                                                           | CUSIP: 906400FG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1312903.34   | 0.26%             | 2044-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Buncombe County, North Carolina, Limited Obligation Bonds, Series 2015                                                                                | Buncombe County, North Carolina, Limited Obligation Bonds, Series 2015                                                                                | CUSIP: 120525FM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1250000.00   | 0.25%             | 2033-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured Cofina Project Series 2019A-2A                                     | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured Cofina Project Series 2019A-2A                                     | CUSIP: 74529JRQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2098852.36   | 0.42%             | 2040-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| University of North Carolina, Asheville, General Revenue Bonds, Refunding Series 2017                                                                 | University of North Carolina, Asheville, General Revenue Bonds, Refunding Series 2017                                                                 | CUSIP: 914710HH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5047073.00   | 1.01%             | 2042-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wake County, North Carolina, General Obligation Bonds, Parks, Greenways, Recreation and Open Space, Series 2022C                                      | Wake County, North Carolina, General Obligation Bonds, Parks, Greenways, Recreation and Open Space, Series 2022C                                      | CUSIP: 930864FN8<br>LEI: 5493007XQJHO082P1H29 | Long             | DBT              | MUN               | US        |    810000 | PA      | $873023.02    | 0.17%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Vidant Health, Refunding Series 2015                                    | North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Vidant Health, Refunding Series 2015                                    | CUSIP: 65821DSN2<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2938805.10   | 0.59%             | 2045-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina State University at Raleigh, General Revenue Bonds, Refunding Series 2018                                                              | North Carolina State University at Raleigh, General Revenue Bonds, Refunding Series 2018                                                              | CUSIP: 658289N66<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1652724.19   | 0.33%             | 2040-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Union County, North Carolina, Enterprise System Revenue Bonds, Series 2015                                                                            | Union County, North Carolina, Enterprise System Revenue Bonds, Series 2015                                                                            | CUSIP: 906400DD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $503731.40    | 0.10%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Appalachian State University, North Carolina, Revenue Bonds, Millennial Campus Indoor Facilities Project Series 2024                                  | Appalachian State University, North Carolina, Revenue Bonds, Millennial Campus Indoor Facilities Project Series 2024                                  | CUSIP: 037778AJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $248367.65    | 0.05%             | 2034-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greenville Utilities Commission, North Carolina, Combined Enterprise System Revenue Bonds, Series 2025                                                | Greenville Utilities Commission, North Carolina, Combined Enterprise System Revenue Bonds, Series 2025                                                | CUSIP: 396321EX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    340000 | PA      | $374319.94    | 0.07%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina State University at Raleigh, General Revenue Bonds, Refunding Series 2018                                                              | North Carolina State University at Raleigh, General Revenue Bonds, Refunding Series 2018                                                              | CUSIP: 658289N74<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1790000 | PA      | $1722859.96   | 0.34%             | 2041-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Charlotte, North Carolina, General Obligation Bonds, Refunding Series 2016A                                                                           | Charlotte, North Carolina, General Obligation Bonds, Refunding Series 2016A                                                                           | CUSIP: 161035HG8<br>LEI: 5493001QNY6JJFWHQ568 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1750242.90   | 0.35%             | 2036-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| University of North Carolina, Charlotte, General Revenue Bonds, Refunding Series 2017A                                                                | University of North Carolina, Charlotte, General Revenue Bonds, Refunding Series 2017A                                                                | CUSIP: 914716K38<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $239616.14    | 0.05%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina State, Limited Obligation Bonds, Refunding Series 2017B                                                                                | North Carolina State, Limited Obligation Bonds, Refunding Series 2017B                                                                                | CUSIP: 65829QCZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3108422.10   | 0.62%             | 2030-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oak Island, North Carolina, Enterprise System Revenue Bonds, Refunding Series 2017                                                                    | Oak Island, North Carolina, Enterprise System Revenue Bonds, Refunding Series 2017                                                                    | CUSIP: 67140PDT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1027392.70   | 0.21%             | 2033-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hanover County, North Carolina, Hospital Revenue Bonds, New Hanover Regional Medical Center, Series 2017                                          | New Hanover County, North Carolina, Hospital Revenue Bonds, New Hanover Regional Medical Center, Series 2017                                          | CUSIP: 644804FM3<br>LEI: 549300TDDH9O6TH23823 | Long             | DBT              | MUN               | US        |   2990000 | PA      | $3129967.88   | 0.63%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Lutheran Services for the Aging, Series 2021A                           | North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Lutheran Services for the Aging, Series 2021A                           | CUSIP: 65821DYC9<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    285000 | PA      | $281348.30    | 0.06%             | 2030-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Cabarrus County, North Carolina, Limited Obligation Installment Financing Contract Bonds, Refunding Series 2024A                                      | Cabarrus County, North Carolina, Limited Obligation Installment Financing Contract Bonds, Refunding Series 2024A                                      | CUSIP: 12677REL7<br>LEI: 549300HVGPJDNBDPZV71 | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3957776.25   | 0.79%             | 2042-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Capital Facilities Finance Agency, Educational Facilities Revenue Bonds, Campbell University, Refunding Series 2021A                   | North Carolina Capital Facilities Finance Agency, Educational Facilities Revenue Bonds, Campbell University, Refunding Series 2021A                   | CUSIP: 65818PPC7<br>LEI: 549300PWNPSB7G58A235 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1032335.10   | 0.21%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Western Carolina University, North Carolina, General Revenue Bonds, Series 2020B                                                                      | Western Carolina University, North Carolina, General Revenue Bonds, Series 2020B                                                                      | CUSIP: 957897MD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $5485158.60   | 1.10%             | 2045-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Nags Head, North Carolina, Limited Obligation Bonds, Series 2023                                                                                      | Nags Head, North Carolina, Limited Obligation Bonds, Series 2023                                                                                      | CUSIP: 629752AQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    920000 | PA      | $990105.56    | 0.20%             | 2039-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Elizabeth City State University, North Carolina, General Revenue Bonds, Series 2019                                                                   | Elizabeth City State University, North Carolina, General Revenue Bonds, Series 2019                                                                   | CUSIP: 286650DC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    745000 | PA      | $784922.69    | 0.16%             | 2030-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Duplin County, North Carolina, Limited Obligation Bonds, County Water Districts, Series 2016                                                          | Duplin County, North Carolina, Limited Obligation Bonds, County Water Districts, Series 2016                                                          | CUSIP: 266122BL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1475000 | PA      | $1492768.44   | 0.30%             | 2032-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Iredell County, North Carolina, General Obligation Bonds, School Series 2025                                                                          | Iredell County, North Carolina, General Obligation Bonds, School Series 2025                                                                          | CUSIP: 462668MA9<br>LEI: 549300NE65QUOJ0ETV20 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1442500.50   | 0.29%             | 2042-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Western Carolina University, North Carolina, General Revenue Bonds, Series 2025                                                                       | Western Carolina University, North Carolina, General Revenue Bonds, Series 2025                                                                       | CUSIP: 957897NE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1020796.67   | 0.20%             | 2043-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Wilmington, North Carolina, Limited Obligation Bonds, Series 2023D                                                                                    | Wilmington, North Carolina, Limited Obligation Bonds, Series 2023D                                                                                    | CUSIP: 971697KW6<br>LEI: 549300Y5IY4G3QB69428 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1327829.00   | 0.27%             | 2041-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greensboro, North Carolina, Combined Enterprise System Revenue Bonds, Series 2024B                                                                    | Greensboro, North Carolina, Combined Enterprise System Revenue Bonds, Series 2024B                                                                    | CUSIP: 395468PJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3102762.60   | 0.62%             | 2054-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wake County, North Carolina, General Obligation Bonds, Public Improvement Series 2023A                                                                | Wake County, North Carolina, General Obligation Bonds, Public Improvement Series 2023A                                                                | CUSIP: 930864GS6<br>LEI: 5493007XQJHO082P1H29 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5412255.00   | 1.08%             | 2039-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greenville Utilities Commission, North Carolina, Combined Enterprise System Revenue Bonds, Series 2022                                                | Greenville Utilities Commission, North Carolina, Combined Enterprise System Revenue Bonds, Series 2022                                                | CUSIP: 396321EM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | PA      | $314944.41    | 0.06%             | 2041-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Capital Facilities Financing Agency, Educational Facility Revenue Bonds, Wake Forest University, Refunding Series 2016                 | North Carolina Capital Facilities Financing Agency, Educational Facility Revenue Bonds, Wake Forest University, Refunding Series 2016                 | CUSIP: 65818PKQ1<br>LEI: 549300PWNPSB7G58A235 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5015981.50   | 1.00%             | 2035-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pender County, North Carolina, General Obligation Bonds, School Series 2024                                                                           | Pender County, North Carolina, General Obligation Bonds, School Series 2024                                                                           | CUSIP: 706711KH0<br>LEI: 549300TW9ZHCIKDLQB34 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1896486.40   | 0.38%             | 2043-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Capital Facilities Financing Agency, Educational Facilities Revenue Bond, Meredith College, Refunding Series 2016                      | North Carolina Capital Facilities Financing Agency, Educational Facilities Revenue Bond, Meredith College, Refunding Series 2016                      | CUSIP: 65818PLF4<br>LEI: 549300PWNPSB7G58A235 | Long             | DBT              | MUN               | US        |    685000 | PA      | $616892.78    | 0.12%             | 2034-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Turnpike Authority, Monroe Expressway Toll  Revenue Bonds, Capital Appreciation Series 2017C                                           | North Carolina Turnpike Authority, Monroe Expressway Toll  Revenue Bonds, Capital Appreciation Series 2017C                                           | CUSIP: 65830UAG7<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |    865000 | PA      | $796598.14    | 0.16%             | 2027-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Central University, General Revenue Bonds, Series 2019                                                                                 | North Carolina Central University, General Revenue Bonds, Series 2019                                                                                 | CUSIP: 65819PDQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1035000 | PA      | $1057115.57   | 0.21%             | 2038-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greensboro, North Carolina Limited Obligation Bonds, Series 2024                                                                                      | Greensboro, North Carolina Limited Obligation Bonds, Series 2024                                                                                      | CUSIP: 395476HA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $843344.64    | 0.17%             | 2044-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| National Finance Authority, New Hampshire, Revenue Bonds, Winston-Salem Sustainable Energy Partners Series 2025A                                      | National Finance Authority, New Hampshire, Revenue Bonds, Winston-Salem Sustainable Energy Partners Series 2025A                                      | CUSIP: 63607YCQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3236215.80   | 0.65%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cape Fear Public Utility Authority, North Carolina,  Water and Sewer System Revenue Bonds, Refunding Series 2019A                                     | Cape Fear Public Utility Authority, North Carolina,  Water and Sewer System Revenue Bonds, Refunding Series 2019A                                     | CUSIP: 139391EV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1895000 | PA      | $1866374.89   | 0.37%             | 2038-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Buncombe County, North Carolina, Limited Obligation Bonds, Series 2015                                                                                | Buncombe County, North Carolina, Limited Obligation Bonds, Series 2015                                                                                | CUSIP: 120525FU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1375000.00   | 0.28%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission, Retirement Facilities First Mortgage Revenue Bonds, Sharon Towers, Series 2019A                               | North Carolina Medical Care Commission, Retirement Facilities First Mortgage Revenue Bonds, Sharon Towers, Series 2019A                               | CUSIP: 65820YRN8<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   1105000 | PA      | $1038317.78   | 0.21%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pender County, North Carolina, Limited General Obligation Bonds, Series 2024A                                                                         | Pender County, North Carolina, Limited General Obligation Bonds, Series 2024A                                                                         | CUSIP: 706716DS3<br>LEI: 549300TW9ZHCIKDLQB34 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1065174.90   | 0.21%             | 2041-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Charlotte-Mecklenburg Hospital Authority, North Carolina, Health Care Revenue Bonds, Doing Business as Atrium Health, Refunding Series 2018D          | Charlotte-Mecklenburg Hospital Authority, North Carolina, Health Care Revenue Bonds, Doing Business as Atrium Health, Refunding Series 2018D          | CUSIP: 160853VT1<br>LEI: 549300XOH4JU704GMZ32 | Long             | DBT              | MUN               | US        |    500000 | PA      | $502091.65    | 0.10%             | 2048-01-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| North Carolina State University at Raleigh, General Revenue Bonds, Series 2024B                                                                       | North Carolina State University at Raleigh, General Revenue Bonds, Series 2024B                                                                       | CUSIP: 658289S95<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3660000 | PA      | $3368902.27   | 0.67%             | 2045-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Sewerage District of Buncombe County, North Carolina, Sewerage System Revenue Bonds, Series 2014                                         | Metropolitan Sewerage District of Buncombe County, North Carolina, Sewerage System Revenue Bonds, Series 2014                                         | CUSIP: 120532KF2<br>LEI: 254900U5AA2F4DQUFZ71 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1750894.25   | 0.35%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Johnston County, North Carolina, Water and Sewer Revenue Bonds, Series 2024                                                                           | Johnston County, North Carolina, Water and Sewer Revenue Bonds, Series 2024                                                                           | CUSIP: 479357CJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3335000 | PA      | $3422127.88   | 0.69%             | 2049-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Capital Appreciation Series 2019                                         | North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Capital Appreciation Series 2019                                         | CUSIP: 65830VAR1<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $1932371.40   | 0.39%             | 2048-01-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Johnston County, North Carolina, Water and Sewer Revenue Bonds, Series 2023                                                                           | Johnston County, North Carolina, Water and Sewer Revenue Bonds, Series 2023                                                                           | CUSIP: 479357BP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4125000 | PA      | $3638008.69   | 0.73%             | 2053-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Charlotte, North Carolina, Water and Sewer System Revenue Bonds, Series 2024                                                                          | Charlotte, North Carolina, Water and Sewer System Revenue Bonds, Series 2024                                                                          | CUSIP: 161045ST7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1132070.80   | 0.23%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, Social Series 52-A                                                               | North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, Social Series 52-A                                                               | CUSIP: 6582074D4<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000904.30   | 0.20%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mecklenburg County, North Carolina, Limited Obligation Bonds, Series 2025                                                                             | Mecklenburg County, North Carolina, Limited Obligation Bonds, Series 2025                                                                             | CUSIP: 58400CCD7<br>LEI: 5493006G3IC5PBHB7A65 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1896821.00   | 0.38%             | 2043-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Rocky Mount, North Carolina, Special Obligation Bonds, Series 2016                                                                                    | Rocky Mount, North Carolina, Special Obligation Bonds, Series 2016                                                                                    | CUSIP: 774652AL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1018075.90   | 0.20%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Davidson County, North Carolina, General Obligation Bonds, Limited Obligation Series 2016                                                             | Davidson County, North Carolina, General Obligation Bonds, Limited Obligation Series 2016                                                             | CUSIP: 238603BF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1018807.30   | 0.20%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cape Fear Public Utility Authority, North Carolina,  Water and Sewer System Revenue Bonds, Refunding Series 2019A                                     | Cape Fear Public Utility Authority, North Carolina,  Water and Sewer System Revenue Bonds, Refunding Series 2019A                                     | CUSIP: 139391EX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4615000 | PA      | $4326073.31   | 0.87%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Turnpike Authority, Monroe Expressway Toll  Revenue Bonds, Capital Appreciation Series 2017C                                           | North Carolina Turnpike Authority, Monroe Expressway Toll  Revenue Bonds, Capital Appreciation Series 2017C                                           | CUSIP: 65830UAT9<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |   3735000 | PA      | $1973120.20   | 0.40%             | 2038-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| County of Durham, North Carolina, General Obligation Bonds, Refunding Series 2023                                                                     | County of Durham, North Carolina, General Obligation Bonds, Refunding Series 2023                                                                     | CUSIP: 266705W57<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2020000 | PA      | $1980623.94   | 0.40%             | 2040-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission, Health Care Facilities Revenues Bonds, Wake Forest Baptist Obligated Group, Series 2019A                      | North Carolina Medical Care Commission, Health Care Facilities Revenues Bonds, Wake Forest Baptist Obligated Group, Series 2019A                      | CUSIP: 65821DWE7<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1051370.80   | 0.21%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Charlotte-Mecklenburg Hospital Authority, North Carolina, Health Care Revenue Bonds, Doing Business as Atrium Health, Refunding Series 2018A          | Charlotte-Mecklenburg Hospital Authority, North Carolina, Health Care Revenue Bonds, Doing Business as Atrium Health, Refunding Series 2018A          | CUSIP: 160853UJ4<br>LEI: 549300XOH4JU704GMZ32 | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3620243.25   | 0.72%             | 2039-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Vidant Health, Refunding Series 2015                                    | North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Vidant Health, Refunding Series 2015                                    | CUSIP: 65821DSM4<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   5860000 | PA      | $5837666.37   | 1.17%             | 2040-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greensboro, North Carolina, Combined Enterprise System Revenue Bonds, Series 2024B                                                                    | Greensboro, North Carolina, Combined Enterprise System Revenue Bonds, Series 2024B                                                                    | CUSIP: 395468PH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1041525.00   | 0.21%             | 2049-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Union County, North Carolina, Enterprise System Revenue Bonds, Series 2015                                                                            | Union County, North Carolina, Enterprise System Revenue Bonds, Series 2015                                                                            | CUSIP: 906400DC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1020000 | PA      | $1028004.25   | 0.21%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Charlotte, North Carolina, Certificates of Participation, Refunding Cultural Arts Facilities Series 2019B                                             | Charlotte, North Carolina, Certificates of Participation, Refunding Cultural Arts Facilities Series 2019B                                             | CUSIP: 1610372S4<br>LEI: 5493001QNY6JJFWHQ568 | Long             | DBT              | MUN               | US        |   1930000 | PA      | $2019453.76   | 0.40%             | 2037-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greenville Utilities Commission, North Carolina, Combined Enterprise System Revenue Bonds, Series 2022                                                | Greenville Utilities Commission, North Carolina, Combined Enterprise System Revenue Bonds, Series 2022                                                | CUSIP: 396321EQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | PA      | $312396.91    | 0.06%             | 2044-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Charlotte, North Carolina, Airport Revenue Bonds, Charlotte Douglas International, Refunding Series 2017A                                             | Charlotte, North Carolina, Airport Revenue Bonds, Charlotte Douglas International, Refunding Series 2017A                                             | CUSIP: 161036MJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6610000 | PA      | $6617943.90   | 1.32%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cary, North Carolina, Combined Enterprise System Revenue Bonds, Series 2017                                                                           | Cary, North Carolina, Combined Enterprise System Revenue Bonds, Series 2017                                                                           | CUSIP: 147056GD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1753502.23   | 0.35%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wake County, North Carolina, Limited Obligation Bonds, Series 2019                                                                                    | Wake County, North Carolina, Limited Obligation Bonds, Series 2019                                                                                    | CUSIP: 930876EK9<br>LEI: 5493007XQJHO082P1H29 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2159312.20   | 0.43%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Elizabeth City State University, North Carolina, General Revenue Bonds, Series 2019                                                                   | Elizabeth City State University, North Carolina, General Revenue Bonds, Series 2019                                                                   | CUSIP: 286650DH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1517299.35   | 0.30%             | 2040-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wilmington, North Carolina, Limited Obligation Bonds, Series 2023D                                                                                    | Wilmington, North Carolina, Limited Obligation Bonds, Series 2023D                                                                                    | CUSIP: 971697KV8<br>LEI: 549300Y5IY4G3QB69428 | Long             | DBT              | MUN               | US        |    500000 | PA      | $534938.25    | 0.11%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Department of Transportation, Private Activity Revenue Bonds, I-77 Hot Lanes Project, Series 2015                                      | North Carolina Department of Transportation, Private Activity Revenue Bonds, I-77 Hot Lanes Project, Series 2015                                      | CUSIP: 65820FAG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1500495.00   | 0.30%             | 2037-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greensboro, North Carolina, Combined Enterprise System Revenue Bonds, Series 2022                                                                     | Greensboro, North Carolina, Combined Enterprise System Revenue Bonds, Series 2022                                                                     | CUSIP: 395468NH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  13060000 | PA      | $13733271.73  | 2.75%             | 2047-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Garner, North Carolina, General Obligation Bonds, Public Improvement Series 2025B                                                                     | Garner, North Carolina, General Obligation Bonds, Public Improvement Series 2025B                                                                     | CUSIP: 366244NM9<br>LEI: 5493000E1R6VGD5YAY62 | Long             | DBT              | MUN               | US        |   1510000 | PA      | $1468486.93   | 0.29%             | 2041-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Charlotte, North Carolina, Storm Water Fee Revenue Bonds, Refunding Series 2024                                                                       | Charlotte, North Carolina, Storm Water Fee Revenue Bonds, Refunding Series 2024                                                                       | CUSIP: 16104PJA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2705565.60   | 0.54%             | 2054-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina State University at Raleigh, General Revenue Bonds, Series 2024B                                                                       | North Carolina State University at Raleigh, General Revenue Bonds, Series 2024B                                                                       | CUSIP: 658289T29<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1137311.00   | 0.23%             | 2046-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission, Retirement Facilities First Mortgage Revenue Bonds, EveryAge, Series 2021A                                    | North Carolina Medical Care Commission, Retirement Facilities First Mortgage Revenue Bonds, EveryAge, Series 2021A                                    | CUSIP: 65820YSP2<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   2970000 | PA      | $2414332.60   | 0.48%             | 2047-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| University of North Carolina, Charlotte, General Revenue Bonds, Refunding Series 2017A                                                                | University of North Carolina, Charlotte, General Revenue Bonds, Refunding Series 2017A                                                                | CUSIP: 914716L29<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4415000 | PA      | $4128422.79   | 0.83%             | 2040-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Johnston County, North Carolina, Water and Sewer Revenue Bonds, Series 2023                                                                           | Johnston County, North Carolina, Water and Sewer Revenue Bonds, Series 2023                                                                           | CUSIP: 479357BN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3176773.60   | 0.64%             | 2048-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| University of North Carolina, Charlotte, General Revenue Bonds, Series 2017                                                                           | University of North Carolina, Charlotte, General Revenue Bonds, Series 2017                                                                           | CUSIP: 914716H65<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2165000 | PA      | $2190965.06   | 0.44%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of North Carolina, Chapel Hill, Revenue Bonds, Hospital System, Series 2019                                                                | University of North Carolina, Chapel Hill, Revenue Bonds, Hospital System, Series 2019                                                                | CUSIP: 914714CY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8010000 | PA      | $8384443.47   | 1.68%             | 2045-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of North Carolina, Greensboro, General Revenue Bonds, Series 2018                                                                          | University of North Carolina, Greensboro, General Revenue Bonds, Series 2018                                                                          | CUSIP: 914719XA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6070275.60   | 1.22%             | 2043-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Capital Facilities Financing Agency, Educational Facilities Revenue Bond, Meredith College, Refunding Series 2018                      | North Carolina Capital Facilities Financing Agency, Educational Facilities Revenue Bond, Meredith College, Refunding Series 2018                      | CUSIP: 65818PMH9<br>LEI: 549300PWNPSB7G58A235 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4628416.50   | 0.93%             | 2038-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Turnpike Authority, Monroe Expressway Toll  Revenue Bonds, Capital Appreciation Series 2017C                                           | North Carolina Turnpike Authority, Monroe Expressway Toll  Revenue Bonds, Capital Appreciation Series 2017C                                           | CUSIP: 65830UAQ5<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |   2905000 | PA      | $1795506.71   | 0.36%             | 2035-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Cabarrus County, North Carolina, Limited Obligation Installment Financing Contract Bonds, Refunding Series 2022A                                      | Cabarrus County, North Carolina, Limited Obligation Installment Financing Contract Bonds, Refunding Series 2022A                                      | CUSIP: 12677RDQ7<br>LEI: 549300HVGPJDNBDPZV71 | Long             | DBT              | MUN               | US        |   4675000 | PA      | $4958992.23   | 0.99%             | 2040-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Union County, North Carolina, Enterprise System Revenue Bonds, Series 2021                                                                            | Union County, North Carolina, Enterprise System Revenue Bonds, Series 2021                                                                            | CUSIP: 906400GE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1275000 | PA      | $884179.86    | 0.18%             | 2051-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1                                                            | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1                                                            | CUSIP: 74529JPU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5296000 | PA      | $5260766.77   | 1.05%             | 2034-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Jacksonville City, North Carolina, Enterprise System Revenue Bonds, Refunding Series 2016                                                             | Jacksonville City, North Carolina, Enterprise System Revenue Bonds, Refunding Series 2016                                                             | CUSIP: 469650AN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $651164.10    | 0.13%             | 2029-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| North Carolina Turnpike Authority, Monroe Expressway Toll  Revenue Bonds, Capital Appreciation Series 2017C                                           | North Carolina Turnpike Authority, Monroe Expressway Toll  Revenue Bonds, Capital Appreciation Series 2017C                                           | CUSIP: 65830UAV4<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |   2385000 | PA      | $1103546.89   | 0.22%             | 2040-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Appalachian State University, North Carolina, General Revenue Bonds, Series 2019                                                                      | Appalachian State University, North Carolina, General Revenue Bonds, Series 2019                                                                      | CUSIP: 037777ZY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3415000 | PA      | $2965064.19   | 0.59%             | 2048-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Charlotte, North Carolina, Certificates of Participation, Convention Facilities Project, Series 2019A                                                 | Charlotte, North Carolina, Certificates of Participation, Convention Facilities Project, Series 2019A                                                 | CUSIP: 161037Y91<br>LEI: 5493001QNY6JJFWHQ568 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1014809.40   | 0.20%             | 2044-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Appalachian State University, North Carolina, General Revenue Bonds, Millennial Campus End Zone Project, Series 2018                                  | Appalachian State University, North Carolina, General Revenue Bonds, Millennial Campus End Zone Project, Series 2018                                  | CUSIP: 037777YX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1995000 | PA      | $2016275.48   | 0.40%             | 2044-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Guilford County, North Carolina, General Obligation Bonds, School Series 2024                                                                         | Guilford County, North Carolina, General Obligation Bonds, School Series 2024                                                                         | CUSIP: 401784V26<br>LEI: 549300OUKUGQGH8RCL96 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2917196.10   | 0.58%             | 2041-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Taxable Restructured Cofina Project Series 2019A-2                              | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Taxable Restructured Cofina Project Series 2019A-2                              | CUSIP: 74529JRH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7405000 | PA      | $6914898.59   | 1.38%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| Charlotte, North Carolina, Storm Water Fee Revenue Bonds, Refunding Series 2024                                                                       | Charlotte, North Carolina, Storm Water Fee Revenue Bonds, Refunding Series 2024                                                                       | CUSIP: 16104PHZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $915783.10    | 0.18%             | 2049-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Harnett County, North Carolina, Limited Obligation Bonds, Series 2025                                                                                 | Harnett County, North Carolina, Limited Obligation Bonds, Series 2025                                                                                 | CUSIP: 41333TCN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    930000 | PA      | $1032778.39   | 0.21%             | 2033-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Nags Head, North Carolina, Limited Obligation Bonds, Series 2023                                                                                      | Nags Head, North Carolina, Limited Obligation Bonds, Series 2023                                                                                      | CUSIP: 629752AT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    935000 | PA      | $985851.19    | 0.20%             | 2042-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wake County, North Carolina, Limited Obligation Bonds, Refunding Series 2016A                                                                         | Wake County, North Carolina, Limited Obligation Bonds, Refunding Series 2016A                                                                         | CUSIP: 930876CZ8<br>LEI: 5493007XQJHO082P1H29 | Long             | DBT              | MUN               | US        |    500000 | PA      | $509822.75    | 0.10%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wake County, North Carolina, Limited Obligation Bonds, Series 2024                                                                                    | Wake County, North Carolina, Limited Obligation Bonds, Series 2024                                                                                    | CUSIP: 930876HL4<br>LEI: 5493007XQJHO082P1H29 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2220623.40   | 0.44%             | 2036-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Charlotte, North Carolina, Airport Revenue Bonds, Charlotte Douglas International, Refunding Series 2017A                                             | Charlotte, North Carolina, Airport Revenue Bonds, Charlotte Douglas International, Refunding Series 2017A                                             | CUSIP: 161036MH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1925000 | PA      | $1938424.57   | 0.39%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Capital Appreciation Series 2019                                         | North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Capital Appreciation Series 2019                                         | CUSIP: 65830VAQ3<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |  15500000 | PA      | $5265114.40   | 1.05%             | 2047-01-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Brunswick County, North Carolina, Enterprise System Revenue Bonds, Series 2020                                                                        | Brunswick County, North Carolina, Enterprise System Revenue Bonds, Series 2020                                                                        | CUSIP: 117068HK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1325623.68   | 0.27%             | 2046-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, Series 57-A                                                                      | North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, Series 57-A                                                                      | CUSIP: 65820BBF2<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2222741.60   | 0.44%             | 2056-01-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| New Hanover County, North Carolina, Hospital Revenue Bonds, New Hanover Regional Medical Center, Series 2017                                          | New Hanover County, North Carolina, Hospital Revenue Bonds, New Hanover Regional Medical Center, Series 2017                                          | CUSIP: 644804FG6<br>LEI: 549300TDDH9O6TH23823 | Long             | DBT              | MUN               | US        |   2895000 | PA      | $3030520.74   | 0.61%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission, Revenue Bonds, First Mortgage Galloway Ridge Project, Refunding Series 2019A                                  | North Carolina Medical Care Commission, Revenue Bonds, First Mortgage Galloway Ridge Project, Refunding Series 2019A                                  | CUSIP: 65820YQW9<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   1225000 | PA      | $1125840.17   | 0.23%             | 2039-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Capital Appreciation Series 2019                                         | North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Capital Appreciation Series 2019                                         | CUSIP: 65830VAK6<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |   5150000 | PA      | $2280990.11   | 0.46%             | 2042-01-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Pender County, North Carolina, Limited General Obligation Bonds, Series 2024A                                                                         | Pender County, North Carolina, Limited General Obligation Bonds, Series 2024A                                                                         | CUSIP: 706716DP9<br>LEI: 549300TW9ZHCIKDLQB34 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1092564.20   | 0.22%             | 2038-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina State, Federal Grant Anticipation Revenue, Vehicle Series 2021                                                                         | North Carolina State, Federal Grant Anticipation Revenue, Vehicle Series 2021                                                                         | CUSIP: 658268ER4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2756161.75   | 0.55%             | 2031-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oak Island, North Carolina, Enterprise System Revenue Bonds, Refunding Series 2017                                                                    | Oak Island, North Carolina, Enterprise System Revenue Bonds, Refunding Series 2017                                                                    | CUSIP: 67140PDM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1215000 | PA      | $1264184.78   | 0.25%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Onslow County, North Carolina, Combined Enterprise System Revenue Bonds, Refunding Series 2016                                                        | Onslow County, North Carolina, Combined Enterprise System Revenue Bonds, Refunding Series 2016                                                        | CUSIP: 682852CS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    940000 | PA      | $965911.10    | 0.19%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oak Island, North Carolina, Enterprise System Revenue Bonds, Refunding Series 2017                                                                    | Oak Island, North Carolina, Enterprise System Revenue Bonds, Refunding Series 2017                                                                    | CUSIP: 67140PDN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1381907.76   | 0.28%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Refunding Series 2015A                                                       | North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Refunding Series 2015A                                                       | CUSIP: 658203X25<br>LEI: 549300N3Q65G1ODRFX75 | Long             | DBT              | MUN               | US        |    295000 | PA      | $298087.91    | 0.06%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Senior Lien Series 2009B                                                 | North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Senior Lien Series 2009B                                                 | CUSIP: 65830RAR0<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |   3760000 | PA      | $2565169.01   | 0.51%             | 2035-01-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Cabarrus County, North Carolina, Limited Obligation Installment Financing Contract Bonds, Refunding Series 2024A                                      | Cabarrus County, North Carolina, Limited Obligation Installment Financing Contract Bonds, Refunding Series 2024A                                      | CUSIP: 12677REM5<br>LEI: 549300HVGPJDNBDPZV71 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1577177.10   | 0.32%             | 2043-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Capital Facilities Financing Agency, Educational Facilities Revenue Bond, Meredith College, Refunding Series 2016                      | North Carolina Capital Facilities Financing Agency, Educational Facilities Revenue Bond, Meredith College, Refunding Series 2016                      | CUSIP: 65818PLE7<br>LEI: 549300PWNPSB7G58A235 | Long             | DBT              | MUN               | US        |    800000 | PA      | $733565.76    | 0.15%             | 2033-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission, Health Care Facilities Revenues Bonds, Wake Forest Baptist Obligated Group, Series 2019A                      | North Carolina Medical Care Commission, Health Care Facilities Revenues Bonds, Wake Forest Baptist Obligated Group, Series 2019A                      | CUSIP: 65821DWG2<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1044997.50   | 0.21%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Charlotte-Mecklenburg Hospital Authority, North Carolina, Health Care Revenue Bonds, DBA Carolinas HealthCare System, Refunding Series 2016A          | Charlotte-Mecklenburg Hospital Authority, North Carolina, Health Care Revenue Bonds, DBA Carolinas HealthCare System, Refunding Series 2016A          | CUSIP: 160853ST5<br>LEI: 549300XOH4JU704GMZ32 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3021347.10   | 0.60%             | 2036-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Garner, North Carolina, General Obligation Bonds, Public Improvement Series 2025B                                                                     | Garner, North Carolina, General Obligation Bonds, Public Improvement Series 2025B                                                                     | CUSIP: 366244NN7<br>LEI: 5493000E1R6VGD5YAY62 | Long             | DBT              | MUN               | US        |   1510000 | PA      | $1455991.23   | 0.29%             | 2042-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Nags Head, North Carolina, Limited Obligation Bonds, Series 2023                                                                                      | Nags Head, North Carolina, Limited Obligation Bonds, Series 2023                                                                                      | CUSIP: 629752AN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    660000 | PA      | $722236.55    | 0.14%             | 2037-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Burke County, North Carolina, Limited Obligation Bonds, Series 2018                                                                                   | Burke County, North Carolina, Limited Obligation Bonds, Series 2018                                                                                   | CUSIP: 121358BJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $103105.70    | 0.02%             | 2031-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greenville Utilities Commission, North Carolina, Combined Enterprise System Revenue Bonds, Series 2022                                                | Greenville Utilities Commission, North Carolina, Combined Enterprise System Revenue Bonds, Series 2022                                                | CUSIP: 396321EP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $285847.41    | 0.06%             | 2043-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| North Carolina Turnpike Authority, Monroe Expressway Toll  Revenue Bonds, Capital Appreciation Series 2017C                                           | North Carolina Turnpike Authority, Monroe Expressway Toll  Revenue Bonds, Capital Appreciation Series 2017C                                           | CUSIP: 65830UAJ1<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |    880000 | PA      | $739556.14    | 0.15%             | 2029-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Fuquay-Varina, North Carolina, Combined Utilities Revenue Bonds, Series 2024C                                                                         | Fuquay-Varina, North Carolina, Combined Utilities Revenue Bonds, Series 2024C                                                                         | CUSIP: 36106QCU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1130000 | PA      | $1263919.58   | 0.25%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Novant Health Obligated Group, Series 2019A                             | North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Novant Health Obligated Group, Series 2019A                             | CUSIP: 65821DWK3<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |  28995000 | PA      | $25021452.71  | 5.01%             | 2049-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Greenville Utilities Commission, North Carolina, Combined Enterprise System Revenue Bonds, Series 2022                                                | Greenville Utilities Commission, North Carolina, Combined Enterprise System Revenue Bonds, Series 2022                                                | CUSIP: 396321EN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $306876.93    | 0.06%             | 2042-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Refunding Series 1993B                                                     | North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Refunding Series 1993B                                                     | CUSIP: 658196PK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    310000 | PA      | $314931.39    | 0.06%             | 2026-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Rex Healthcare, Series 2015A                                            | North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Rex Healthcare, Series 2015A                                            | CUSIP: 65821DTQ4<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   2950000 | PA      | $2916271.18   | 0.58%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Refunding Series 2016A                                                       | North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Refunding Series 2016A                                                       | CUSIP: 6582034N1<br>LEI: 549300N3Q65G1ODRFX75 | Long             | DBT              | MUN               | US        |    740000 | PA      | $751102.22    | 0.15%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Nags Head, North Carolina, Limited Obligation Bonds, Series 2023                                                                                      | Nags Head, North Carolina, Limited Obligation Bonds, Series 2023                                                                                      | CUSIP: 629752AS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    930000 | PA      | $987126.92    | 0.20%             | 2041-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of North Carolina, Charlotte, General Revenue Bonds, Series 2020A                                                                          | University of North Carolina, Charlotte, General Revenue Bonds, Series 2020A                                                                          | CUSIP: 914716P82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $999800.60    | 0.20%             | 2037-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Turnpike Authority, Monroe Expressway Toll  Revenue Bonds, Capital Appreciation Series 2017C                                           | North Carolina Turnpike Authority, Monroe Expressway Toll  Revenue Bonds, Capital Appreciation Series 2017C                                           | CUSIP: 65830UAU6<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |   3995000 | PA      | $1979125.00   | 0.40%             | 2039-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| New Hanover County, North Carolina, Limited Obligation Bonds, Series 2024                                                                             | New Hanover County, North Carolina, Limited Obligation Bonds, Series 2024                                                                             | CUSIP: 64480PHR3<br>LEI: 549300TDDH9O6TH23823 | Long             | DBT              | MUN               | US        |    680000 | PA      | $718772.72    | 0.14%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina State, Limited Obligation Bonds, Series 2022A                                                                                          | North Carolina State, Limited Obligation Bonds, Series 2022A                                                                                          | CUSIP: 65829QFB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1785000 | PA      | $2000907.00   | 0.40%             | 2032-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Turnpike Authority, Monroe Expressway Toll  Revenue Bonds, Capital Appreciation Series 2017C                                           | North Carolina Turnpike Authority, Monroe Expressway Toll  Revenue Bonds, Capital Appreciation Series 2017C                                           | CUSIP: 65830UAM4<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |    175000 | PA      | $126565.92    | 0.03%             | 2032-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| County of Durham, North Carolina, General Obligation Bonds, Refunding Series 2023                                                                     | County of Durham, North Carolina, General Obligation Bonds, Refunding Series 2023                                                                     | CUSIP: 266705W65<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $972143.00    | 0.19%             | 2041-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Hanover County, North Carolina, Hospital Revenue Bonds, New Hanover Regional Medical Center, Series 2017                                          | New Hanover County, North Carolina, Hospital Revenue Bonds, New Hanover Regional Medical Center, Series 2017                                          | CUSIP: 644804FL5<br>LEI: 549300TDDH9O6TH23823 | Long             | DBT              | MUN               | US        |    960000 | PA      | $1004939.52   | 0.20%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Charlotte, North Carolina, Airport Revenue Bonds, Charlotte Douglas International, Series 2023A                                                       | Charlotte, North Carolina, Airport Revenue Bonds, Charlotte Douglas International, Series 2023A                                                       | CUSIP: 161036VN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6103332.00   | 1.22%             | 2053-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Charlotte, North Carolina, Water and Sewer System Revenue Bonds, Refunding Series 2015                                                                | Charlotte, North Carolina, Water and Sewer System Revenue Bonds, Refunding Series 2015                                                                | CUSIP: 161045MT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    940000 | PA      | $941130.82    | 0.19%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina State, Limited Obligation Bonds, Series 2020B                                                                                          | North Carolina State, Limited Obligation Bonds, Series 2020B                                                                                          | CUSIP: 65829QED2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2165000 | PA      | $2348409.27   | 0.47%             | 2032-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Charlotte, North Carolina, Certificates of Participation, Nascar Hall of Fame Public Facilities, Refunding Series 2019C                               | Charlotte, North Carolina, Certificates of Participation, Nascar Hall of Fame Public Facilities, Refunding Series 2019C                               | CUSIP: 161037Z66<br>LEI: 5493001QNY6JJFWHQ568 | Long             | DBT              | MUN               | US        |   1465000 | PA      | $1453858.09   | 0.29%             | 2037-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina State Education Assistance Authority, Student Loan Revenue Bonds, Senior Series 2020A                                                  | North Carolina State Education Assistance Authority, Student Loan Revenue Bonds, Senior Series 2020A                                                  | CUSIP: 658262GM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031961.20   | 0.21%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wilmington, North Carolina, Limited Obligation Bonds, Series 2023D                                                                                    | Wilmington, North Carolina, Limited Obligation Bonds, Series 2023D                                                                                    | CUSIP: 971697KY2<br>LEI: 549300Y5IY4G3QB69428 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1310706.13   | 0.26%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Agricultural & Technical State University, General Revenue Bonds, Refunding Series 2015A                                               | North Carolina Agricultural & Technical State University, General Revenue Bonds, Refunding Series 2015A                                               | CUSIP: 658187HA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4516004.25   | 0.90%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cabarrus County, North Carolina, Limited Obligation Installment Financing Contract Bonds, Refunding Series 2024A                                      | Cabarrus County, North Carolina, Limited Obligation Installment Financing Contract Bonds, Refunding Series 2024A                                      | CUSIP: 12677REN3<br>LEI: 549300HVGPJDNBDPZV71 | Long             | DBT              | MUN               | US        |    500000 | PA      | $523155.10    | 0.10%             | 2044-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission, Retirement Facility Revenue Bonds, Penick Village Project First Mortgage Series 2024A                         | North Carolina Medical Care Commission, Retirement Facility Revenue Bonds, Penick Village Project First Mortgage Series 2024A                         | CUSIP: 65820YTM8<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    900000 | PA      | $901313.37    | 0.18%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Durham, North Carolina, General Obligation Bonds, Refunding Series 2023                                                                     | County of Durham, North Carolina, General Obligation Bonds, Refunding Series 2023                                                                     | CUSIP: 266705W73<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1870000 | PA      | $1802289.36   | 0.36%             | 2042-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission, Retirement Facilities First Mortgage Revenue Bonds, Twin Lakes Community, Series 2025A                        | North Carolina Medical Care Commission, Retirement Facilities First Mortgage Revenue Bonds, Twin Lakes Community, Series 2025A                        | CUSIP: 65820YTT3<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1215431.25   | 0.24%             | 2055-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Hanover County, North Carolina, Limited Obligation Bonds, Series 2024                                                                             | New Hanover County, North Carolina, Limited Obligation Bonds, Series 2024                                                                             | CUSIP: 64480PHP7<br>LEI: 549300TDDH9O6TH23823 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1077488.20   | 0.22%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sampson County Water & Sewer District II, North Carolina, General Obligation Bonds, Refunding Series 2015                                             | Sampson County Water & Sewer District II, North Carolina, General Obligation Bonds, Refunding Series 2015                                             | CUSIP: 79587WAY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1260199.84   | 0.25%             | 2040-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Charlotte, North Carolina, General Obligation Bonds, Refunding Series 2024                                                                            | Charlotte, North Carolina, General Obligation Bonds, Refunding Series 2024                                                                            | CUSIP: 161035NU0<br>LEI: 5493001QNY6JJFWHQ568 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1128027.80   | 0.23%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Clayton, North Carolina, Water and Sewer System Revenue Bonds, Series 2022                                                                            | Clayton, North Carolina, Water and Sewer System Revenue Bonds, Series 2022                                                                            | CUSIP: 184383AV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1900000 | PA      | $1967557.16   | 0.39%             | 2045-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Senior Lien Series 2009B                                                 | North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Senior Lien Series 2009B                                                 | CUSIP: 65830RAT6<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |  20150000 | PA      | $12350051.87  | 2.47%             | 2037-01-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Charlotte, North Carolina, Certificates of Participation, Convention Facilities Project, Series 2019A                                                 | Charlotte, North Carolina, Certificates of Participation, Convention Facilities Project, Series 2019A                                                 | CUSIP: 161037X92<br>LEI: 5493001QNY6JJFWHQ568 | Long             | DBT              | MUN               | US        |    310000 | PA      | $329383.74    | 0.07%             | 2033-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cabarrus County, North Carolina, Limited Obligation Installment Financing Contract Bonds, Refunding Series 2024A                                      | Cabarrus County, North Carolina, Limited Obligation Installment Financing Contract Bonds, Refunding Series 2024A                                      | CUSIP: 12677REK9<br>LEI: 549300HVGPJDNBDPZV71 | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3993185.63   | 0.80%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Senior Lien Series 2009B                                                 | North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Senior Lien Series 2009B                                                 | CUSIP: 65830RAU3<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |  15615000 | PA      | $9009341.27   | 1.80%             | 2038-01-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Huntersville, North Carolina, General Obligation Bonds, Public Improvement Series 2024                                                                | Huntersville, North Carolina, General Obligation Bonds, Public Improvement Series 2024                                                                | CUSIP: 445798GG0<br>LEI: 54930087GGCJ3BA5DF20 | Long             | DBT              | MUN               | US        |   1270000 | PA      | $1254245.27   | 0.25%             | 2039-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Greenville, North Carolina, Combined Enterprise System Revenue Bonds, Series 2016                                                                     | Greenville, North Carolina, Combined Enterprise System Revenue Bonds, Series 2016                                                                     | CUSIP: 396290CY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3330000 | PA      | $3063915.68   | 0.61%             | 2046-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Charlotte-Mecklenburg Hospital Authority, North Carolina, Health Care Revenue Bonds, DBA Carolinas HealthCare System, Refunding Series 2016A          | Charlotte-Mecklenburg Hospital Authority, North Carolina, Health Care Revenue Bonds, DBA Carolinas HealthCare System, Refunding Series 2016A          | CUSIP: 160853SX6<br>LEI: 549300XOH4JU704GMZ32 | Long             | DBT              | MUN               | US        |   1685000 | PA      | $1690825.21   | 0.34%             | 2040-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina State Education Assistance Authority, Student Loan Revenue Bonds, Refunding Senior Series 2025A                                        | North Carolina State Education Assistance Authority, Student Loan Revenue Bonds, Refunding Senior Series 2025A                                        | CUSIP: 658262GZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3600000 | PA      | $3717725.40   | 0.74%             | 2033-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greenville Utilities Commission, North Carolina, Combined Enterprise System Revenue Bonds, Series 2022                                                | Greenville Utilities Commission, North Carolina, Combined Enterprise System Revenue Bonds, Series 2022                                                | CUSIP: 396321ER8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $747852.15    | 0.15%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mooresville, North Carolina, Special Assessment Revenue Bonds, Series 2015                                                                            | Mooresville, North Carolina, Special Assessment Revenue Bonds, Series 2015                                                                            | CUSIP: 616129AA0<br>LEI: 549300ISWSZ083ZKZF60 | Long             | DBT              | MUN               | US        |    485000 | PA      | $472886.20    | 0.09%             | 2040-03-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Pender County, North Carolina, Limited General Obligation Bonds, Series 2024A                                                                         | Pender County, North Carolina, Limited General Obligation Bonds, Series 2024A                                                                         | CUSIP: 706716DR5<br>LEI: 549300TW9ZHCIKDLQB34 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1074789.00   | 0.22%             | 2040-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cary, North Carolina, Combined Enterprise System Revenue Bonds, Series 2017                                                                           | Cary, North Carolina, Combined Enterprise System Revenue Bonds, Series 2017                                                                           | CUSIP: 147056GF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $406765.76    | 0.08%             | 2038-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Elizabeth City State University, North Carolina, General Revenue Bonds, Series 2019                                                                   | Elizabeth City State University, North Carolina, General Revenue Bonds, Series 2019                                                                   | CUSIP: 286650DB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    465000 | PA      | $489911.91    | 0.10%             | 2029-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Scotland County, North Carolina, Limited Obligation Bonds, Series 2017                                                                                | Scotland County, North Carolina, Limited Obligation Bonds, Series 2017                                                                                | CUSIP: 809323AR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $257904.00    | 0.05%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wake County, North Carolina, Limited Obligation Bonds, Series 2018A                                                                                   | Wake County, North Carolina, Limited Obligation Bonds, Series 2018A                                                                                   | CUSIP: 930876DW4<br>LEI: 5493007XQJHO082P1H29 | Long             | DBT              | MUN               | US        |   2045000 | PA      | $2125206.95   | 0.43%             | 2036-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of North Carolina, Charlotte, General Revenue Bonds, Series 2017                                                                           | University of North Carolina, Charlotte, General Revenue Bonds, Series 2017                                                                           | CUSIP: 914716H73<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6600000 | PA      | $6665819.16   | 1.33%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Rex Healthcare, Series 2015A                                            | North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Rex Healthcare, Series 2015A                                            | CUSIP: 65821DTK7<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000947.10   | 0.20%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Refunding Series 2018A                                                   | North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Refunding Series 2018A                                                   | CUSIP: 65830VAD2<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |   4875000 | PA      | $4883296.76   | 0.98%             | 2036-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Hanover County, North Carolina, Limited Obligation Bonds, Series 2024                                                                             | New Hanover County, North Carolina, Limited Obligation Bonds, Series 2024                                                                             | CUSIP: 64480PHQ5<br>LEI: 549300TDDH9O6TH23823 | Long             | DBT              | MUN               | US        |   1560000 | PA      | $1662676.08   | 0.33%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Scotland County, North Carolina, Limited Obligation Bonds, Series 2018                                                                                | Scotland County, North Carolina, Limited Obligation Bonds, Series 2018                                                                                | CUSIP: 809323BK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    660000 | PA      | $688706.57    | 0.14%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Monroe, North Carolina, Combined Enterprise System Revenue Bonds, Refunding Series 2017                                                               | Monroe, North Carolina, Combined Enterprise System Revenue Bonds, Refunding Series 2017                                                               | CUSIP: 611190FB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1430000 | PA      | $1438119.54   | 0.29%             | 2043-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Union County, North Carolina, General Obligation Bonds, School Series 2023                                                                            | Union County, North Carolina, General Obligation Bonds, School Series 2023                                                                            | CUSIP: 9063954Y1<br>LEI: 5493007ESG9QHLUW6165 | Long             | DBT              | MUN               | US        |   2970000 | PA      | $3154729.25   | 0.63%             | 2042-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Duplin County, North Carolina, Limited Obligation Bonds, County Water Districts, Series 2016                                                          | Duplin County, North Carolina, Limited Obligation Bonds, County Water Districts, Series 2016                                                          | CUSIP: 266122BN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010529.20   | 0.20%             | 2034-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fuquay-Varina, North Carolina, Combined Utilities Revenue Bonds, Series 2024C                                                                         | Fuquay-Varina, North Carolina, Combined Utilities Revenue Bonds, Series 2024C                                                                         | CUSIP: 36106QDJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1173735.88   | 0.23%             | 2049-06-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Senior Lien Series 2009B                                                 | North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Senior Lien Series 2009B                                                 | CUSIP: 65830RAQ2<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |     70000 | PA      | $50163.02     | 0.01%             | 2034-01-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Ashe County, North Carolina, Limited Obligation Bonds, Series 2025                                                                                    | Ashe County, North Carolina, Limited Obligation Bonds, Series 2025                                                                                    | CUSIP: 043891AT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $827213.71    | 0.17%             | 2043-06-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission, Retirement Facilities First Mortgage Revenue Bonds, United Methodist Retirement Homes, Refunding Series 2016A | North Carolina Medical Care Commission, Retirement Facilities First Mortgage Revenue Bonds, United Methodist Retirement Homes, Refunding Series 2016A | CUSIP: 65820YLS3<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    550000 | PA      | $558012.51    | 0.11%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Western Carolina University, North Carolina, General Revenue Bonds, Series 2018                                                                       | Western Carolina University, North Carolina, General Revenue Bonds, Series 2018                                                                       | CUSIP: 957897KR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4536766.80   | 0.91%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Huntersville, North Carolina, General Obligation Bonds, Public Improvement Series 2024                                                                | Huntersville, North Carolina, General Obligation Bonds, Public Improvement Series 2024                                                                | CUSIP: 445798GE5<br>LEI: 54930087GGCJ3BA5DF20 | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1609973.72   | 0.32%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mebane, North Carolina, Combined Utilities Revenue Bonds, Series 2024                                                                                 | Mebane, North Carolina, Combined Utilities Revenue Bonds, Series 2024                                                                                 | CUSIP: 583445AQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2870000 | PA      | $3062887.53   | 0.61%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Senior Lien Series 2009B                                                 | North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Senior Lien Series 2009B                                                 | CUSIP: 65830RAS8<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |  21205000 | PA      | $13718055.23  | 2.75%             | 2036-01-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Elizabeth City State University, North Carolina, General Revenue Bonds, Series 2019                                                                   | Elizabeth City State University, North Carolina, General Revenue Bonds, Series 2019                                                                   | CUSIP: 286650DA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $443454.35    | 0.09%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Turnpike Authority, Monroe Expressway Toll  Revenue Bonds, Capital Appreciation Series 2017C                                           | North Carolina Turnpike Authority, Monroe Expressway Toll  Revenue Bonds, Capital Appreciation Series 2017C                                           | CUSIP: 65830UAP7<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $977505.60    | 0.20%             | 2034-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission, Retirement Facilities First Mortgage Revenue Bonds, United Methodist Retirement Homes, Refunding Series 2016A | North Carolina Medical Care Commission, Retirement Facilities First Mortgage Revenue Bonds, United Methodist Retirement Homes, Refunding Series 2016A | CUSIP: 65820YLU8<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    225000 | PA      | $228242.79    | 0.05%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greensboro, North Carolina, Combined Enterprise System Revenue Bonds, Series 2017A                                                                    | Greensboro, North Carolina, Combined Enterprise System Revenue Bonds, Series 2017A                                                                    | CUSIP: 395468KZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4629181.00   | 0.93%             | 2047-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Refunding Series 2016A                                                       | North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Refunding Series 2016A                                                       | CUSIP: 6582034M3<br>LEI: 549300N3Q65G1ODRFX75 | Long             | DBT              | MUN               | US        |   3065000 | PA      | $3113027.94   | 0.62%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Raleigh Housing Authority, North Carolina, Multifamily Housing Revenue Bonds, Parkside Apartments Project Series 2024A                                | Raleigh Housing Authority, North Carolina, Multifamily Housing Revenue Bonds, Parkside Apartments Project Series 2024A                                | CUSIP: 751115BV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4125000 | PA      | $3939766.05   | 0.79%             | 2043-12-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Charlotte, North Carolina, Airport Revenue Bonds, Charlotte Douglas International, Series 2021A                                                       | Charlotte, North Carolina, Airport Revenue Bonds, Charlotte Douglas International, Series 2021A                                                       | CUSIP: 161036RW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4445289.00   | 0.89%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Raleigh, North Carolina, Combined Enterprise System Revenue and Refunding Bonds, Series 2023                                                  | City of Raleigh, North Carolina, Combined Enterprise System Revenue and Refunding Bonds, Series 2023                                                  | CUSIP: 751100NN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3875000 | PA      | $4036516.20   | 0.81%             | 2048-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Raleigh Durham Airport Authority, North Carolina, Airport Revenue Bonds, Refunding Series 2015A                                                       | Raleigh Durham Airport Authority, North Carolina, Airport Revenue Bonds, Refunding Series 2015A                                                       | CUSIP: 751073JY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300250.89    | 0.06%             | 2030-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, Series 52-A                                                                      | North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, Series 52-A                                                                      | CUSIP: 6582074C6<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |   4995000 | PA      | $4929867.20   | 0.99%             | 2043-07-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-31

**Name of Applicant:** Nuveen Multistate Trust III

**Signature:** Gina Spunder

**Name of Signer:** Gina Spunder

**Title:** Director, Fund Financial Reporting