# EDGAR Filing Document

**Accession Number:** 0000751656
**File Stem:** 0002071691-26-004591
**Filing Date:** 2026-2
**Character Count:** 194103
**Document Hash:** 4cc588b5d9678b61744763eef0c1c6f2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-26-004591.hdr.sgml**: 20260225

**ACCESSION NUMBER**: 0002071691-26-004591

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260225

**DATE AS OF CHANGE**: 20260225

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MFS MUNICIPAL SERIES TRUST
- **CENTRAL INDEX KEY:** 0000751656

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04096
- **FILM NUMBER:** 26679552

**BUSINESS ADDRESS:**
- **STREET 1:** 111 HUNTINGTON AVENUE
- **STREET 2:** 21ST FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199
- **BUSINESS PHONE:** 18006372929

**MAIL ADDRESS:**
- **STREET 1:** 111 HUNTINGTON AVENUE
- **STREET 2:** 21ST FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MFS MANAGED MULTI STATE MUNICIPAL BOND TRUST
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MFS MANAGED MULTI STATE TAX EXEMPT TRUST
- **DATE OF NAME CHANGE:** 19890410

## Series and Classes Contracts Data

### MFS Massachusetts Municipal Bond Fund (Series ID: S000002534)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000006987 | A            | MFSSX           |
| C000006988 | B            | MBMAX           |
| C000169770 | I            | MTALX           |
| C000194250 | R6           | MPMAX           |

## Nport-Ex

MMA-Q3

![](img43b4aa721.gif)

**Quarterly Report**

December 31, 2025

MFS<sup>®</sup> Massachusetts <br>Municipal Bond Fund

![](img9c8d5a822.gif)

------

**Portfolio of Investments**

12/31/25 (unaudited)

The Portfolio of Investments is a complete list of all securities owned by your fund. It is categorized by broad-based asset classes.

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

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Municipal Bonds – 98.0%  | Municipal Bonds – 98.0%  | Municipal Bonds – 98.0%  |
| Airport Revenue – 5.3% | Airport Revenue – 5.3% | Airport Revenue – 5.3% |
| Denver, CO, City & County Airport System Rev., "A", 4.125%, 11/15/2047  | $265000 | &nbsp;&nbsp;&nbsp; $242853 |
| Denver, CO, City & County Airport System Rev., "A", 4.125%, 11/15/2053  | 250000 | &nbsp;&nbsp;&nbsp; 223597 |
| Massachusetts Port Authority Rev., "A", 5%, 7/01/2038  | 2000000 | &nbsp;&nbsp;&nbsp; 2092853 |
| Massachusetts Port Authority Rev., "A", 5%, 7/01/2040  | 2755000 | &nbsp;&nbsp;&nbsp; 2858636 |
| Massachusetts Port Authority Rev., "A", 5%, 7/01/2042  | 3000000 | &nbsp;&nbsp;&nbsp; 3017463 |
| Massachusetts Port Authority Rev., "A", 5%, 7/01/2042  | 3455000 | &nbsp;&nbsp;&nbsp; 3624130 |
| Massachusetts Port Authority Rev., "A", 5%, 7/01/2047  | 1500000 | &nbsp;&nbsp;&nbsp; 1505683 |
| Massachusetts Port Authority Rev., "C", 5%, 7/01/2044  | 3000000 | &nbsp;&nbsp;&nbsp; 3055902 |
| Massachusetts Port Authority Rev., "E", 5%, 7/01/2051  | 3055000 | &nbsp;&nbsp;&nbsp; 3088792 |
| New York Transportation Development Corp., Special Facilities Rev. (John F. Kennedy International Airport New Terminal One <br> Project), AGM, 5.25%, 6/30/2060 <br>| 1675000 | &nbsp;&nbsp;&nbsp; 1698052 |
|  |  | &nbsp;&nbsp;&nbsp; $21407961 |
| General Obligations - General Purpose – 13.6% | General Obligations - General Purpose – 13.6% | General Obligations - General Purpose – 13.6% |
| Bridgeview, IL, Stadium & Redevelopment Projects, Taxable, AAC, 5.14%, 12/01/2036  | $705000 | &nbsp;&nbsp;&nbsp; $659404 |
| Brockton, MA, Public Safety Facility, General Obligation, 4%, 8/01/2052  | 1740000 | &nbsp;&nbsp;&nbsp; 1611683 |
| Commonwealth of Massachusetts, General Obligation Consolidated Loan, "A", 5%, 5/01/2053  | 2130000 | &nbsp;&nbsp;&nbsp; 2198804 |
| Commonwealth of Massachusetts, General Obligation Consolidated Loan, "B", 5.25%, 8/01/2028  | 2225000 | &nbsp;&nbsp;&nbsp; 2382355 |
| Commonwealth of Massachusetts, General Obligation Consolidated Loan, "B", 4%, 5/01/2045  | 2000000 | &nbsp;&nbsp;&nbsp; 1912991 |
| Commonwealth of Massachusetts, General Obligation Consolidated Loan, "B", 5%, 5/01/2048  | 2000000 | &nbsp;&nbsp;&nbsp; 2098604 |
| Commonwealth of Massachusetts, General Obligation Consolidated Loan, "B", 5%, 5/01/2054  | 2115000 | &nbsp;&nbsp;&nbsp; 2192554 |
| Commonwealth of Massachusetts, General Obligation Consolidated Loan, "E", 5%, 8/01/2053  | 2930000 | &nbsp;&nbsp;&nbsp; 3044383 |
| Commonwealth of Massachusetts, General Obligation Consolidated Loan, "F", 5%, 11/01/2042  | 3000000 | &nbsp;&nbsp;&nbsp; 3063398 |
| Commonwealth of Massachusetts, General Obligation Consolidated Loan, "F", 5%, 8/01/2049  | 4000000 | &nbsp;&nbsp;&nbsp; 4203626 |
| Commonwealth of Massachusetts, General Obligation Consolidated Loan, "G", 5%, 12/01/2047  | 1000000 | &nbsp;&nbsp;&nbsp; 1060726 |
| Commonwealth of Puerto Rico, General Obligation Restructured, "A", 5.75%, 7/01/2031  | 343525 | &nbsp;&nbsp;&nbsp; 377398 |
| Commonwealth of Puerto Rico, General Obligation Restructured, "A", 4%, 7/01/2033  | 143685 | &nbsp;&nbsp;&nbsp; 143642 |
| Commonwealth of Puerto Rico, General Obligation Restructured, "A", 4%, 7/01/2035  | 282284 | &nbsp;&nbsp;&nbsp; 277397 |
| Commonwealth of Puerto Rico, General Obligation Restructured, "A", 4%, 7/01/2037  | 110848 | &nbsp;&nbsp;&nbsp; 107456 |
| Commonwealth of Puerto Rico, General Obligation Restructured, "A", 4%, 7/01/2041  | 150711 | &nbsp;&nbsp;&nbsp; 139347 |
| Commonwealth of Puerto Rico, General Obligation Restructured, "A", 4%, 7/01/2046  | 516737 | &nbsp;&nbsp;&nbsp; 450827 |
| Commonwealth of Puerto Rico, General Obligation Restructured, Capital Appreciation, "A", 0%, 7/01/2033  | 184909 | &nbsp;&nbsp;&nbsp; 133808 |
| Framingham, MA, General Obligation Purpose Loan, 5%, 8/01/2041  | 1095000 | &nbsp;&nbsp;&nbsp; 1173850 |
| Framingham, MA, General Obligation Purpose Loan, 5%, 8/01/2042  | 1130000 | &nbsp;&nbsp;&nbsp; 1202653 |
| Hingham, MA, General Obligation Municipal Purpose Loan, 4%, 2/01/2050  | 3020000 | &nbsp;&nbsp;&nbsp; 2898733 |
| Lawrence, MA, General Obligation Purpose Loan, 4%, 6/01/2044  | 1665000 | &nbsp;&nbsp;&nbsp; 1633639 |
| Lawrence, MA, General Obligation Purpose Loan, 3%, 2/01/2049  | 3000000 | &nbsp;&nbsp;&nbsp; 2260877 |
| Nantucket, MA, General Obligation Purpose Loan, "A", 4%, 8/15/2039  | 1090000 | &nbsp;&nbsp;&nbsp; 1126497 |
| Nantucket, MA, General Obligation Purpose Loan, "A", 4%, 8/15/2040  | 1125000 | &nbsp;&nbsp;&nbsp; 1150538 |
| Nantucket, MA, General Obligation Purpose Loan, "A", 4%, 8/15/2041  | 1000000 | &nbsp;&nbsp;&nbsp; 1013287 |
| New Bedford, MA, General Obligation State Qualified Municipal Purpose Loan, 4%, 9/01/2047  | 3000000 | &nbsp;&nbsp;&nbsp; 2872688 |
| Pittsfield, MA, General Obligation State Qualified Municipal Purpose Loan, 4%, 12/01/2041  | 685000 | &nbsp;&nbsp;&nbsp; 689180 |
| Pittsfield, MA, General Obligation State Qualified Municipal Purpose Loan, 4%, 12/01/2042  | 790000 | &nbsp;&nbsp;&nbsp; 787942 |
| Pittsfield, MA, General Obligation State Qualified Municipal Purpose Loan, 4%, 12/01/2043  | 730000 | &nbsp;&nbsp;&nbsp; 720213 |
| Provincetown, MA, General Obligation Municipal Purpose Loan, Taxable, 3%, 6/15/2028  | 755000 | &nbsp;&nbsp;&nbsp; 755087 |
| Quincy, MA, General Obligation, "B", 5%, 7/01/2041  | 620000 | &nbsp;&nbsp;&nbsp; 671568 |
| Quincy, MA, General Obligation, "B", 5%, 7/01/2042  | 600000 | &nbsp;&nbsp;&nbsp; 644211 |
| State of Illinois, General Obligation, 5.5%, 5/01/2039  | 280000 | &nbsp;&nbsp;&nbsp; 299607 |
| State of Illinois, General Obligation, 5.75%, 5/01/2045  | 255000 | &nbsp;&nbsp;&nbsp; 269016 |
| State of Illinois, General Obligation, "C", 4%, 10/01/2040  | 630000 | &nbsp;&nbsp;&nbsp; 607997 |
| State of Illinois, General Obligation, "C", 4%, 10/01/2041  | 280000 | &nbsp;&nbsp;&nbsp; 267598 |
| Texas Cedar Port Navigation & Improvement District, Unlimited Tax, 4.5%, 9/01/2048  | 395000 | &nbsp;&nbsp;&nbsp; 382149 |
| Texas Cedar Port Navigation & Improvement District, Unlimited Tax, 4.5%, 9/01/2052  | 160000 | &nbsp;&nbsp;&nbsp; 153048 |
| Tisbury, MA, General Obligation, Municipal Purpose Loan, Unlimited Tax, 3%, 8/15/2052  | 5000000 | &nbsp;&nbsp;&nbsp; 3732353 |
| Wakefield, MA, General Obligation Purpose Loan, 5%, 8/15/2050  | 3000000 | &nbsp;&nbsp;&nbsp; 3167854 |
|  |  | &nbsp;&nbsp;&nbsp; $54538988 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Municipal Bonds – continued  | Municipal Bonds – continued  | Municipal Bonds – continued  |
| General Obligations - Schools – 2.3% | General Obligations - Schools – 2.3% | General Obligations - Schools – 2.3% |
| Chicago, IL, Board of Education, Unlimited Tax General Obligation Dedicated Rev., "A", 4%, 12/01/2047  | $1270000 | &nbsp;&nbsp;&nbsp; $988880 |
| Nashoba, MA, Regional School District, General Obligation Project Loan, "70B", 4%, 6/15/2045  | 3010000 | &nbsp;&nbsp;&nbsp; 2921005 |
| Orange County, CA, Anaheim Elementary School District, AGM, 4%, 8/01/2048  | 1285000 | &nbsp;&nbsp;&nbsp; 1238610 |
| Tri-County, MA, Regional School District General Obligation Project Loan, "70B", 4%, 6/01/2044  | 4000000 | &nbsp;&nbsp;&nbsp; 3903501 |
|  |  | &nbsp;&nbsp;&nbsp; $9051996 |
| Healthcare Revenue - Hospitals – 17.0% | Healthcare Revenue - Hospitals – 17.0% | Healthcare Revenue - Hospitals – 17.0% |
| California Health Facilities Financing Authority Rev. (Cedars-Sinai Health System), "A", 5%, 8/15/2051  | $2405000 | &nbsp;&nbsp;&nbsp; $2504091 |
| Harris County, TX, Cultural Education Facilities Finance Corp., Hospital Rev. (Memorial Hermann Health System), "A", <br> 4.125%, 7/01/2052 <br>| 1960000 | &nbsp;&nbsp;&nbsp; 1777262 |
| Massachusetts Development Finance Agency Rev. (Atrius Health), "A", 4%, 6/01/2049 (Prerefunded 6/01/2029)  | 1500000 | &nbsp;&nbsp;&nbsp; 1574302 |
| Massachusetts Development Finance Agency Rev. (Baystate Medical Center), "N", 5%, 7/01/2044  | 2000000 | &nbsp;&nbsp;&nbsp; 2000868 |
| Massachusetts Development Finance Agency Rev. (Boston Medical Center), "G", 5.25%, 7/01/2052  | 2000000 | &nbsp;&nbsp;&nbsp; 1994608 |
| Massachusetts Development Finance Agency Rev. (Brown University Health Obligated Group), "A", 5.5%, 8/15/2050  | 3000000 | &nbsp;&nbsp;&nbsp; 3104383 |
| Massachusetts Development Finance Agency Rev. (CareGroup), "I", 5%, 7/01/2037  | 1000000 | &nbsp;&nbsp;&nbsp; 1007344 |
| Massachusetts Development Finance Agency Rev. (CareGroup), "J-2", 5%, 7/01/2036  | 1000000 | &nbsp;&nbsp;&nbsp; 1043956 |
| Massachusetts Development Finance Agency Rev. (CareGroup), "J-2", 5%, 7/01/2037  | 1000000 | &nbsp;&nbsp;&nbsp; 1041482 |
| Massachusetts Development Finance Agency Rev. (CareGroup), "J-2", 5%, 7/01/2043  | 2855000 | &nbsp;&nbsp;&nbsp; 2922206 |
| Massachusetts Development Finance Agency Rev. (CareGroup), "J-2", 5%, 7/01/2048  | 3115000 | &nbsp;&nbsp;&nbsp; 3153451 |
| Massachusetts Development Finance Agency Rev. (CareGroup), "K", 5%, 7/01/2036  | 635000 | &nbsp;&nbsp;&nbsp; 669936 |
| Massachusetts Development Finance Agency Rev. (CareGroup), "K", 5%, 7/01/2037  | 850000 | &nbsp;&nbsp;&nbsp; 893717 |
| Massachusetts Development Finance Agency Rev. (CareGroup), "K", 5%, 7/01/2038  | 700000 | &nbsp;&nbsp;&nbsp; 733930 |
| Massachusetts Development Finance Agency Rev. (CareGroup), "N", AGM, 5.5%, 7/01/2055  | 2000000 | &nbsp;&nbsp;&nbsp; 2116227 |
| Massachusetts Development Finance Agency Rev. (CareGroup), "N", AGM, 5.5%, 7/01/2055  | 2000000 | &nbsp;&nbsp;&nbsp; 2147077 |
| Massachusetts Development Finance Agency Rev. (Children's Hospital), "T", 4%, 3/01/2054  | 2500000 | &nbsp;&nbsp;&nbsp; 2344232 |
| Massachusetts Development Finance Agency Rev. (Children's Hospital), "T", 5.25%, 3/01/2054  | 3000000 | &nbsp;&nbsp;&nbsp; 3163188 |
| Massachusetts Development Finance Agency Rev. (Dana-Farber Cancer Institute), "N", 5%, 12/01/2041  | 2690000 | &nbsp;&nbsp;&nbsp; 2716166 |
| Massachusetts Development Finance Agency Rev. (Dana-Farber Cancer Institute), "O", 5%, 12/01/2034  | 400000 | &nbsp;&nbsp;&nbsp; 428705 |
| Massachusetts Development Finance Agency Rev. (Mass General Brigham), "D", 5%, 7/01/2054  | 3000000 | &nbsp;&nbsp;&nbsp; 3068015 |
| Massachusetts Development Finance Agency Rev. (Milford Regional Medical Center), "G", 5%, 7/15/2046  | 1000000 | &nbsp;&nbsp;&nbsp; 1107721 |
| Massachusetts Development Finance Agency Rev. (Partners Healthcare), "Q", 5%, 7/01/2041  | 1810000 | &nbsp;&nbsp;&nbsp; 1820319 |
| Massachusetts Development Finance Agency Rev. (Partners Healthcare), "Q", 5%, 7/01/2047  | 1500000 | &nbsp;&nbsp;&nbsp; 1503993 |
| Massachusetts Development Finance Agency Rev. (Partners Healthcare), "S", 4%, 7/01/2041  | 1500000 | &nbsp;&nbsp;&nbsp; 1487854 |
| Massachusetts Development Finance Agency Rev. (South Shore Hospital), "I", 5%, 7/01/2041  | 2300000 | &nbsp;&nbsp;&nbsp; 2302730 |
| Massachusetts Development Finance Agency Rev. (UMass Memorial Health Care Obligated Group), "I", 5%, 7/01/2041  | 1850000 | &nbsp;&nbsp;&nbsp; 1855892 |
| Massachusetts Development Finance Agency Rev. (UMass Memorial Health Care Obligated Group), "K", 5%, 7/01/2038  | 2000000 | &nbsp;&nbsp;&nbsp; 2020611 |
| Massachusetts Development Finance Agency Rev. (UMass Memorial Health Care Obligated Group), "L", 5%, 7/01/2044  | 1000000 | &nbsp;&nbsp;&nbsp; 1000868 |
| Massachusetts Development Finance Agency Rev. (UMass Memorial Health Care Obligated Group), "N-1", 5.25%, 7/01/2050  | 5000000 | &nbsp;&nbsp;&nbsp; 5147577 |
| Massachusetts Development Finance Agency Rev. (Wellforce, Inc.), "A", 4%, 7/01/2044  | 2080000 | &nbsp;&nbsp;&nbsp; 1799466 |
| Massachusetts Development Finance Agency Rev. (Wellforce, Inc.), "A", 5%, 7/01/2044  | 2000000 | &nbsp;&nbsp;&nbsp; 1974251 |
| Massachusetts Development Finance Agency Rev. (Wellforce, Inc.), "C", AGM, 4%, 10/01/2045  | 4075000 | &nbsp;&nbsp;&nbsp; 3747969 |
| New York Dormitory Authority Rev. (Northwell Health Obligated Group), "A", 4.25%, 5/01/2052  | 2000000 | &nbsp;&nbsp;&nbsp; 1833287 |
|  |  | &nbsp;&nbsp;&nbsp; $68007684 |
| Healthcare Revenue - Long Term Care – 1.7% | Healthcare Revenue - Long Term Care – 1.7% | Healthcare Revenue - Long Term Care – 1.7% |
| Massachusetts Development Finance Agency First Mortgage Rev. (Berkshire Retirement Community), 5%, 7/01/2031  | $1250000 | &nbsp;&nbsp;&nbsp; $1251303 |
| Massachusetts Development Finance Agency Refunding Rev. (Lasell Village, Inc.), 5.25%, 7/01/2055  | 2000000 | &nbsp;&nbsp;&nbsp; 2005547 |
| Massachusetts Development Finance Agency Rev. (Adventcare), "A", 6.75%, 10/15/2037 (a)(d) | 415361 | &nbsp;&nbsp;&nbsp; 4 |
| Massachusetts Development Finance Agency Rev. (Carleton-Willard Village), 4%, 12/01/2042  | 485000 | &nbsp;&nbsp;&nbsp; 453649 |
| Massachusetts Development Finance Agency Rev. (Carleton-Willard Village), 5%, 12/01/2042  | 525000 | &nbsp;&nbsp;&nbsp; 531332 |
| Massachusetts Development Finance Agency Rev. (Loomis Communities), 4%, 1/01/2031 (n) | 500000 | &nbsp;&nbsp;&nbsp; 508008 |
| Massachusetts Development Finance Agency Rev. (Loomis Communities), 4%, 1/01/2051  | 900000 | &nbsp;&nbsp;&nbsp; 768236 |
| Massachusetts Development Finance Agency Rev. (Newbridge on the Charles, Inc.), 5%, 10/01/2037 (n) | 1250000 | &nbsp;&nbsp;&nbsp; 1263174 |
|  |  | &nbsp;&nbsp;&nbsp; $6781253 |
| Miscellaneous Revenue - Other – 2.5% | Miscellaneous Revenue - Other – 2.5% | Miscellaneous Revenue - Other – 2.5% |
| Massachusetts Development Finance Agency Rev. (Woods Hole Oceanographic Institution), 5%, 6/01/2037  | $1000000 | &nbsp;&nbsp;&nbsp; $1038271 |
| Massachusetts Development Finance Agency Rev. (Woods Hole Oceanographic Institution), 5%, 6/01/2038  | 1000000 | &nbsp;&nbsp;&nbsp; 1035707 |
| Massachusetts Development Finance Agency Rev. (Woods Hole Oceanographic Institution), 5%, 6/01/2043  | 1000000 | &nbsp;&nbsp;&nbsp; 1023295 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Municipal Bonds – continued  | Municipal Bonds – continued  | Municipal Bonds – continued  |
| Miscellaneous Revenue - Other – continued | Miscellaneous Revenue - Other – continued | Miscellaneous Revenue - Other – continued |
| Massachusetts Port Authority, Special Facilities Rev. (BOSFuel Project), "A", 5%, 7/01/2038  | $1180000 | &nbsp;&nbsp;&nbsp; $1228557 |
| Massachusetts Port Authority, Special Facilities Rev. (BOSFuel Project), "A", 5%, 7/01/2039  | 2000000 | &nbsp;&nbsp;&nbsp; 2076160 |
| New York Liberty Development Corp., Liberty Rev. (3 World Trade Center Project), "1", 5%, 11/15/2044 (n) | 950000 | &nbsp;&nbsp;&nbsp; 948485 |
| Pennsylvania Economic Development Financing Authority, Private Activity Rev. (PennDOT Major Bridges Package One Project), <br> AGM, 5%, 12/31/2057 <br>| 1495000 | &nbsp;&nbsp;&nbsp; 1474487 |
| Virgin Islands Hotel Development Financing Corp. Rev., Taxable (Frenchman's Reef Hotel), "A-1", 6%, 12/01/2055 (w) | 1140000 | &nbsp;&nbsp;&nbsp; 1120203 |
| Virgin Islands Matching Fund Special Purpose Securitization Corp., "A", 5%, 10/01/2026  | 140000 | &nbsp;&nbsp;&nbsp; 141248 |
|  |  | &nbsp;&nbsp;&nbsp; $10086413 |
| Multi-Family Housing Revenue – 6.1% | Multi-Family Housing Revenue – 6.1% | Multi-Family Housing Revenue – 6.1% |
| Massachusetts Housing Finance Agency Rev., "B", 4.125%, 12/01/2036  | $3000000 | &nbsp;&nbsp;&nbsp; $3000793 |
| Massachusetts Housing Finance Agency Rev., "A-3", 3.05%, 12/01/2027  | 2000000 | &nbsp;&nbsp;&nbsp; 2005940 |
| Massachusetts Housing Finance Agency, "A", 3.7%, 12/01/2038  | 1000000 | &nbsp;&nbsp;&nbsp; 999963 |
| Massachusetts Housing Finance Agency, "A", 3.8%, 12/01/2043  | 2025000 | &nbsp;&nbsp;&nbsp; 1939115 |
| Massachusetts Housing Finance Agency, "A-1", 4.55%, 12/01/2044  | 1000000 | &nbsp;&nbsp;&nbsp; 1013782 |
| Massachusetts Housing Finance Agency, "A-1", 4.7%, 12/01/2049  | 800000 | &nbsp;&nbsp;&nbsp; 800323 |
| Massachusetts Housing Finance Agency, "A-1", 4.8%, 12/01/2054  | 1000000 | &nbsp;&nbsp;&nbsp; 984967 |
| Massachusetts Housing Finance Agency, "C-1", 4.85%, 12/01/2043  | 1000000 | &nbsp;&nbsp;&nbsp; 1025093 |
| Massachusetts Housing Finance Agency, "C-1", 5.1%, 12/01/2048  | 1000000 | &nbsp;&nbsp;&nbsp; 1018213 |
| Massachusetts Housing Finance Agency, "C-1", 5.2%, 12/01/2053  | 1000000 | &nbsp;&nbsp;&nbsp; 1017561 |
| Massachusetts Housing Finance Agency, "C-1", 5.125%, 12/01/2057  | 3000000 | &nbsp;&nbsp;&nbsp; 3071838 |
| Massachusetts Housing Finance Agency, "C-1", 2.9%, 12/01/2039  | 1000000 | &nbsp;&nbsp;&nbsp; 857889 |
| Massachusetts Housing Finance Agency, "C-1", 3.1%, 12/01/2044  | 2000000 | &nbsp;&nbsp;&nbsp; 1666508 |
| Massachusetts Housing Finance Agency, Multi-Family Housing, "A", FHA, 4.75%, 12/01/2030  | 1425000 | &nbsp;&nbsp;&nbsp; 1426219 |
| Massachusetts Housing Finance Agency, Multi-Family Housing, "A", FHA, 4.875%, 12/01/2032  | 1190000 | &nbsp;&nbsp;&nbsp; 1190910 |
| National Finance Authority, NH, Municipal Certificates, "1-A", 4.375%, 9/20/2036  | 1071896 | &nbsp;&nbsp;&nbsp; 1091181 |
| North Carolina, Housing Finance Agency (Multi-Family Tax-Exempt Mortgaged Back), FNMA, 4.45%, 5/01/2040  | 985325 | &nbsp;&nbsp;&nbsp; 1021640 |
| San Antonio, TX, Housing Trust Public Facility Corp., Multi-Family (Cedar Ridge Terrace Apartments), "A", FNMA, <br> 4.45%, 4/01/2043 <br>| 140000 | &nbsp;&nbsp;&nbsp; 139661 |
|  |  | &nbsp;&nbsp;&nbsp; $24271596 |
| Sales & Excise Tax Revenue – 7.4% | Sales & Excise Tax Revenue – 7.4% | Sales & Excise Tax Revenue – 7.4% |
| Guam Government Business Privilege Tax Refunding Rev., "F", 4%, 1/01/2042  | $255000 | &nbsp;&nbsp;&nbsp; $245860 |
| Massachusetts Bay Transportation Authority, Sales Tax Rev., "A-1", 5.25%, 7/01/2029  | 1850000 | &nbsp;&nbsp;&nbsp; 2032253 |
| Massachusetts Bay Transportation Authority, Senior Sales Tax, "B", 5.25%, 7/01/2047  | 3000000 | &nbsp;&nbsp;&nbsp; 3253222 |
| Massachusetts Bay Transportation Authority, Senior Sales Tax, "B", 5.25%, 7/01/2055  | 4000000 | &nbsp;&nbsp;&nbsp; 4265076 |
| Massachusetts Bay Transportation Authority, Senior Sales Tax, Capital Appreciation, "A", 0%, 7/01/2030  | 1465000 | &nbsp;&nbsp;&nbsp; 1279251 |
| Massachusetts School Building Authority, Senior Dedicated Sales Tax Rev., "A", 5%, 2/15/2044  | 4000000 | &nbsp;&nbsp;&nbsp; 4117335 |
| Massachusetts School Building Authority, Subordinated Dedicated Sales Tax, "A", 5.25%, 2/15/2050  | 1000000 | &nbsp;&nbsp;&nbsp; 1066462 |
| Massachusetts School Building Authority, Subordinated Dedicated Sales Tax, (Social Bonds), "A", 5%, 2/15/2050  | 4000000 | &nbsp;&nbsp;&nbsp; 4182070 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., "2019A-2", 4.536%, 7/01/2053  | 5000 | &nbsp;&nbsp;&nbsp; 4529 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., "A-1", 4.55%, 7/01/2040  | 73000 | &nbsp;&nbsp;&nbsp; 73027 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., "A-1", 4.75%, 7/01/2053  | 239000 | &nbsp;&nbsp;&nbsp; 225273 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., "A-1", 5%, 7/01/2058  | 3806000 | &nbsp;&nbsp;&nbsp; 3664246 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., "A-2", 4.329%, 7/01/2040  | 597000 | &nbsp;&nbsp;&nbsp; 584095 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., "A-2", 4.329%, 7/01/2040  | 256000 | &nbsp;&nbsp;&nbsp; 250466 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., "A-2", 4.784%, 7/01/2058  | 2179000 | &nbsp;&nbsp;&nbsp; 2034385 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, "A-1", 0%, 7/01/2029  | 22000 | &nbsp;&nbsp;&nbsp; 19540 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, "A-1", 0%, 7/01/2031  | 1059000 | &nbsp;&nbsp;&nbsp; 870041 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, "A-1", 0%, 7/01/2033  | 1011000 | &nbsp;&nbsp;&nbsp; 765572 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, "A-1", 0%, 7/01/2046  | 475000 | &nbsp;&nbsp;&nbsp; 158659 |
| Wisconsin Public Finance Authority, Limited Obligation Grant Rev. (American Dream at Meadowlands Project), "A", <br> 6.25%, 8/01/2027 (a)(d)(n)<br>| 480000 | &nbsp;&nbsp;&nbsp; 384000 |
| Wisconsin Public Finance Authority, Limited Obligation Grant Rev., Taxable (American Dream at Meadowlands Project), "A", <br> 5.625%, 8/01/2024 (a)(d)(n)<br>| 360000 | &nbsp;&nbsp;&nbsp; 324000 |
|  |  | &nbsp;&nbsp;&nbsp; $29799362 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Municipal Bonds – continued  | Municipal Bonds – continued  | Municipal Bonds – continued  |
| Secondary Schools – 2.1% | Secondary Schools – 2.1% | Secondary Schools – 2.1% |
| District of Columbia Rev. (Rocketship D.C. Obligated Group - Issue No. 1), "A", 5%, 6/01/2056 (n) | $290000 | &nbsp;&nbsp;&nbsp; $250408 |
| Lowell, MA, Collegiate Charter School Rev., 5%, 6/15/2039  | 1000000 | &nbsp;&nbsp;&nbsp; 1001332 |
| Lowell, MA, Collegiate Charter School Rev., 5%, 6/15/2054  | 1000000 | &nbsp;&nbsp;&nbsp; 930690 |
| Massachusetts Development Finance Agency Rev. (Dexter Southfield), 5%, 5/01/2030  | 500000 | &nbsp;&nbsp;&nbsp; 500356 |
| Massachusetts Development Finance Agency Rev. (Dexter Southfield), 5%, 5/01/2031  | 1015000 | &nbsp;&nbsp;&nbsp; 1015710 |
| Massachusetts Development Finance Agency Rev. (Foxborough Regional Charter School), "B", 5%, 7/01/2037  | 1000000 | &nbsp;&nbsp;&nbsp; 1008069 |
| Massachusetts Development Finance Agency Rev. (Middlesex School), 4.25%, 7/01/2054  | 1350000 | &nbsp;&nbsp;&nbsp; 1261826 |
| Massachusetts Development Finance Agency Rev. (Roxbury Latin School), "A", 3.5%, 7/01/2044  | 265000 | &nbsp;&nbsp;&nbsp; 231500 |
| Massachusetts Development Finance Agency Rev. (Sabis International Charter School), 5%, 4/15/2033  | 2000000 | &nbsp;&nbsp;&nbsp; 2000643 |
|  |  | &nbsp;&nbsp;&nbsp; $8200534 |
| Single Family Housing - State – 4.5% | Single Family Housing - State – 4.5% | Single Family Housing - State – 4.5% |
| Connecticut Housing Finance Authority Rev. (Housing Mortgage Finance Program), "C-1", 4%, 11/15/2047  | $130000 | &nbsp;&nbsp;&nbsp; $130305 |
| Massachusetts Housing Finance Agency Rev. (Social Bonds), "B", 4.8%, 12/01/2050  | 3000000 | &nbsp;&nbsp;&nbsp; 3001078 |
| Massachusetts Housing Finance Agency, Single Family Housing Rev., "206", 3.3%, 6/01/2034  | 365000 | &nbsp;&nbsp;&nbsp; 359292 |
| Massachusetts Housing Finance Agency, Single Family Housing Rev., "206", 3.45%, 12/01/2036  | 485000 | &nbsp;&nbsp;&nbsp; 476354 |
| Massachusetts Housing Finance Agency, Single Family Housing Rev., "220", GNMA, 1.35%, 12/01/2029  | 400000 | &nbsp;&nbsp;&nbsp; 366667 |
| Massachusetts Housing Finance Agency, Single Family Housing Rev., "222", GNMA, 3%, 6/01/2051  | 720000 | &nbsp;&nbsp;&nbsp; 708136 |
| Massachusetts Housing Finance Agency, Single Family Housing Rev., "225", 5.5%, 12/01/2052  | 3320000 | &nbsp;&nbsp;&nbsp; 3515191 |
| Massachusetts Housing Finance Agency, Single Family Housing Rev., "230", 4.45%, 6/01/2026  | 315000 | &nbsp;&nbsp;&nbsp; 316364 |
| Massachusetts Housing Finance Agency, Single Family Housing Rev., "234", GNMA, 4.5%, 12/01/2044  | 1250000 | &nbsp;&nbsp;&nbsp; 1255424 |
| Massachusetts Housing Finance Agency, Single Family Housing Rev., "234", GNMA, 4.7%, 12/01/2049  | 2750000 | &nbsp;&nbsp;&nbsp; 2761369 |
| Massachusetts Housing Finance Agency, Single Family Housing Rev., "237", 4.5%, 12/01/2049  | 630000 | &nbsp;&nbsp;&nbsp; 614394 |
| Massachusetts Housing Finance Agency, Single Family Housing Rev., "237", 4.55%, 12/01/2054  | 500000 | &nbsp;&nbsp;&nbsp; 491491 |
| Massachusetts Housing Finance Agency, Single Family Housing Rev., "242", GNMA, 4.75%, 12/01/2050  | 1500000 | &nbsp;&nbsp;&nbsp; 1499168 |
| Massachusetts Housing Finance Agency, Single Family Housing Rev., "214", GNMA, 2.95%, 12/01/2044  | 1865000 | &nbsp;&nbsp;&nbsp; 1513894 |
| Massachusetts Housing Finance Agency, Single Family Housing Rev., Taxable, "231", 4.7%, 12/01/2033  | 500000 | &nbsp;&nbsp;&nbsp; 535901 |
| Massachusetts Housing Finance Agency, Single Family Housing Rev., Taxable, "231", 4.75%, 12/01/2034  | 560000 | &nbsp;&nbsp;&nbsp; 595618 |
|  |  | &nbsp;&nbsp;&nbsp; $18140646 |
| Student Loan Revenue – 4.8% | Student Loan Revenue – 4.8% | Student Loan Revenue – 4.8% |
| Massachusetts Educational Financing Authority, Education Loan Rev., "B", 5%, 7/01/2029  | $1400000 | &nbsp;&nbsp;&nbsp; $1468564 |
| Massachusetts Educational Financing Authority, Education Loan Rev., "B", 5%, 7/01/2030  | 1300000 | &nbsp;&nbsp;&nbsp; 1382239 |
| Massachusetts Educational Financing Authority, Education Loan Rev., "B", 5%, 7/01/2031  | 1000000 | &nbsp;&nbsp;&nbsp; 1075024 |
| Massachusetts Educational Financing Authority, Education Loan Rev., "B", 2%, 7/01/2037  | 2105000 | &nbsp;&nbsp;&nbsp; 1751591 |
| Massachusetts Educational Financing Authority, Education Loan Rev., "C", 5%, 7/01/2032  | 1450000 | &nbsp;&nbsp;&nbsp; 1565342 |
| Massachusetts Educational Financing Authority, Education Loan Rev., "C", 4.125%, 7/01/2046  | 2250000 | &nbsp;&nbsp;&nbsp; 1945178 |
| Massachusetts Educational Financing Authority, Education Loan Rev., "C", 3.75%, 7/01/2047  | 4000000 | &nbsp;&nbsp;&nbsp; 3274497 |
| Massachusetts Educational Financing Authority, Education Loan Rev., "C", 3%, 7/01/2051  | 2000000 | &nbsp;&nbsp;&nbsp; 1364942 |
| Massachusetts Educational Financing Authority, Education Loan Rev., "C", 4.125%, 7/01/2052  | 3000000 | &nbsp;&nbsp;&nbsp; 2505107 |
| Massachusetts Educational Financing Authority, Education Loan Rev., "N", 4.25%, 7/01/2032  | 1800000 | &nbsp;&nbsp;&nbsp; 1834871 |
| New Jersey Higher Education Student Assistance Authority, Senior Student Loan Rev., "B", 4%, 12/01/2041  | 1185000 | &nbsp;&nbsp;&nbsp; 1179038 |
|  |  | &nbsp;&nbsp;&nbsp; $19346393 |
| Tax - Other – 0.8% | Tax - Other – 0.8% | Tax - Other – 0.8% |
| Chicago, IL, Board of Education, Dedicated Capital Improvement, 5.75%, 4/01/2035  | $1670000 | &nbsp;&nbsp;&nbsp; $1708073 |
| Chicago, IL, Board of Education, Dedicated Capital Improvement, 5%, 4/01/2045  | 270000 | &nbsp;&nbsp;&nbsp; 270132 |
| Chicago, IL, Board of Education, Dedicated Capital Improvement, 5.75%, 4/01/2048  | 710000 | &nbsp;&nbsp;&nbsp; 745127 |
| Guam Government Limited Obligation Rev., "A", 5%, 12/01/2036  | 120000 | &nbsp;&nbsp;&nbsp; 121259 |
| Guam Government Limited Obligation Rev., "A", 5%, 12/01/2046  | 370000 | &nbsp;&nbsp;&nbsp; 372798 |
|  |  | &nbsp;&nbsp;&nbsp; $3217389 |
| Tax Assessment – 0.0% | Tax Assessment – 0.0% | Tax Assessment – 0.0% |
| Brunswick, MD, Special Obligation Refunding (Brunswick Crossing Special Taxing District), 4%, 7/01/2029  | $20000 | &nbsp;&nbsp;&nbsp; $19960 |
| Brunswick, MD, Special Obligation Refunding (Brunswick Crossing Special Taxing District), 5%, 7/01/2036  | 31000 | &nbsp;&nbsp;&nbsp; 31573 |
|  |  | &nbsp;&nbsp;&nbsp; $51533 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Municipal Bonds – continued  | Municipal Bonds – continued  | Municipal Bonds – continued  |
| Tobacco – 0.6% | Tobacco – 0.6% | Tobacco – 0.6% |
| Buckeye, OH, Tobacco Settlement Financing Authority, Asset-Backed Refunding, 2020 A-2, "1", 4%, 6/01/2048  | $1290000 | &nbsp;&nbsp;&nbsp; $1113744 |
| Buckeye, OH, Tobacco Settlement Financing Authority, Asset-Backed Refunding, 2020 B-2, "2", 5%, 6/01/2055  | 505000 | &nbsp;&nbsp;&nbsp; 408779 |
| Golden State, CA, Tobacco Securitization Corp., Tobacco Settlement Rev., Taxable, "B-1", 3.85%, 6/01/2050  | 880000 | &nbsp;&nbsp;&nbsp; 804278 |
|  |  | &nbsp;&nbsp;&nbsp; $2326801 |
| Toll Roads – 0.3% | Toll Roads – 0.3% | Toll Roads – 0.3% |
| Massachusetts Department of Transportation, Metropolitan Highway System Refunding Rev., "B-1", 5%, 1/01/2037  | $1000000 | &nbsp;&nbsp;&nbsp; $1057483 |
| Transportation – 1.0% | Transportation – 1.0% | Transportation – 1.0% |
| Commonwealth of Massachusetts Transportation Fund Rev. (Rail Enhancement Program), "A", 5%, 6/01/2053  | $4000000 | &nbsp;&nbsp;&nbsp; $4155944 |
| Transportation - Special Tax – 4.1% | Transportation - Special Tax – 4.1% | Transportation - Special Tax – 4.1% |
| Commonwealth of Massachusetts Transportation Fund Rev. (Rail Enhancement & Accelerated Bridge Programs), "A", <br> 5%, 6/01/2036 <br>| $2850000 | &nbsp;&nbsp;&nbsp; $2870655 |
| Commonwealth of Massachusetts Transportation Fund Rev. (Rail Enhancement & Accelerated Bridge Programs), "A", <br> 5%, 6/01/2042 <br>| 3000000 | &nbsp;&nbsp;&nbsp; 3050531 |
| Commonwealth of Massachusetts Transportation Fund Rev. (Rail Enhancement Program), "B", 5%, 6/01/2049  | 3000000 | &nbsp;&nbsp;&nbsp; 3124983 |
| Commonwealth of Massachusetts, Transportation Fund Rev. (Rail Enhancement Program), "A", 5%, 6/01/2048  | 5000000 | &nbsp;&nbsp;&nbsp; 5295819 |
| Commonwealth of Massachusetts, Transportation Fund Rev. (Rail Enhancement Program), "A", 5%, 6/01/2049  | 2000000 | &nbsp;&nbsp;&nbsp; 2107961 |
|  |  | &nbsp;&nbsp;&nbsp; $16449949 |
| Universities - Colleges – 18.0% | Universities - Colleges – 18.0% | Universities - Colleges – 18.0% |
| Connecticut Health & Educational Facilities Authority Rev. (Connecticut College), "M", 3%, 7/01/2047  | $2830000 | &nbsp;&nbsp;&nbsp; $2117573 |
| Massachusetts Development Finance Agency Refunding Rev. (Boston College), "W", 4.25%, 7/01/2055  | 3850000 | &nbsp;&nbsp;&nbsp; 3677472 |
| Massachusetts Development Finance Agency Refunding Rev. (Boston University), "B-2", 5%, 10/01/2048  | 2000000 | &nbsp;&nbsp;&nbsp; 2102948 |
| Massachusetts Development Finance Agency Refunding Rev. (Brandeis University), "S-1", 5%, 10/01/2038  | 3015000 | &nbsp;&nbsp;&nbsp; 3180646 |
| Massachusetts Development Finance Agency Refunding Rev. (Brandeis University), "S-1", 5%, 10/01/2040  | 2665000 | &nbsp;&nbsp;&nbsp; 2799531 |
| Massachusetts Development Finance Agency Refunding Rev. (Emerson College), 5.25%, 1/01/2044  | 1020000 | &nbsp;&nbsp;&nbsp; 1040661 |
| Massachusetts Development Finance Agency Refunding Rev. (Olin College), "F", 5%, 11/01/2040  | 850000 | &nbsp;&nbsp;&nbsp; 933652 |
| Massachusetts Development Finance Agency Refunding Rev. (Olin College), "F", 5%, 11/01/2042  | 950000 | &nbsp;&nbsp;&nbsp; 1022102 |
| Massachusetts Development Finance Agency Refunding Rev. (Olin College), "F", 4.125%, 11/01/2043  | 1250000 | &nbsp;&nbsp;&nbsp; 1230742 |
| Massachusetts Development Finance Agency Refunding Rev. (Olin College), "G", 5.25%, 11/01/2051  | 3500000 | &nbsp;&nbsp;&nbsp; 3666184 |
| Massachusetts Development Finance Agency Refunding Rev. (Suffolk University), 5%, 7/01/2035  | 970000 | &nbsp;&nbsp;&nbsp; 988701 |
| Massachusetts Development Finance Agency Refunding Rev. (Suffolk University), 5%, 7/01/2036  | 850000 | &nbsp;&nbsp;&nbsp; 855956 |
| Massachusetts Development Finance Agency Refunding Rev. (Suffolk University), 5%, 7/01/2037  | 625000 | &nbsp;&nbsp;&nbsp; 633053 |
| Massachusetts Development Finance Agency Refunding Rev. (Suffolk University), 5%, 7/01/2038  | 340000 | &nbsp;&nbsp;&nbsp; 344075 |
| Massachusetts Development Finance Agency Refunding Rev. (Suffolk University), 4%, 7/01/2039  | 3055000 | &nbsp;&nbsp;&nbsp; 2899569 |
| Massachusetts Development Finance Agency Rev. (Bentley University), 5%, 7/01/2040  | 1500000 | &nbsp;&nbsp;&nbsp; 1508854 |
| Massachusetts Development Finance Agency Rev. (Bentley University), 5%, 7/01/2055  | 1250000 | &nbsp;&nbsp;&nbsp; 1276369 |
| Massachusetts Development Finance Agency Rev. (Brandeis University), "R", 5%, 10/01/2038  | 835000 | &nbsp;&nbsp;&nbsp; 872318 |
| Massachusetts Development Finance Agency Rev. (Emerson College), 5%, 1/01/2043  | 725000 | &nbsp;&nbsp;&nbsp; 725718 |
| Massachusetts Development Finance Agency Rev. (Emerson College), 5%, 1/01/2048  | 2845000 | &nbsp;&nbsp;&nbsp; 2752829 |
| Massachusetts Development Finance Agency Rev. (Emerson College), "A", 5.25%, 1/01/2042  | 2000000 | &nbsp;&nbsp;&nbsp; 2007074 |
| Massachusetts Development Finance Agency Rev. (Emmanuel College), "A", 5%, 10/01/2043  | 2000000 | &nbsp;&nbsp;&nbsp; 1927533 |
| Massachusetts Development Finance Agency Rev. (Emmanuel College), "A", 4%, 10/01/2046  | 1375000 | &nbsp;&nbsp;&nbsp; 1122714 |
| Massachusetts Development Finance Agency Rev. (Lasell University), 4%, 7/01/2045  | 250000 | &nbsp;&nbsp;&nbsp; 210892 |
| Massachusetts Development Finance Agency Rev. (Merrimack College), 5%, 7/01/2047  | 1000000 | &nbsp;&nbsp;&nbsp; 968786 |
| Massachusetts Development Finance Agency Rev. (Merrimack College), 5%, 7/01/2052  | 2300000 | &nbsp;&nbsp;&nbsp; 2215658 |
| Massachusetts Development Finance Agency Rev. (Merrimack College), "B", 4%, 7/01/2042  | 475000 | &nbsp;&nbsp;&nbsp; 422448 |
| Massachusetts Development Finance Agency Rev. (Merrimack College), "B", 4%, 7/01/2050  | 1825000 | &nbsp;&nbsp;&nbsp; 1489249 |
| Massachusetts Development Finance Agency Rev. (Northeastern University), 5%, 10/01/2044  | 2000000 | &nbsp;&nbsp;&nbsp; 2122449 |
| Massachusetts Development Finance Agency Rev. (Northeastern University), "A", 5%, 10/01/2042  | 2000000 | &nbsp;&nbsp;&nbsp; 2194076 |
| Massachusetts Development Finance Agency Rev. (Simmons University), "H", SYNCORA, 5.25%, 10/01/2026  | 495000 | &nbsp;&nbsp;&nbsp; 498413 |
| Massachusetts Development Finance Agency Rev. (Springfield College), "A", 4%, 6/01/2056  | 1500000 | &nbsp;&nbsp;&nbsp; 1130351 |
| Massachusetts Development Finance Agency Rev. (Suffolk University), 4%, 7/01/2046  | 1000000 | &nbsp;&nbsp;&nbsp; 856329 |
| Massachusetts Development Finance Agency Rev. (Suffolk University), 4%, 7/01/2051  | 1385000 | &nbsp;&nbsp;&nbsp; 1145261 |
| Massachusetts Development Finance Agency Rev. (Tufts University Student Housing Project), 5.25%, 6/01/2055  | 2000000 | &nbsp;&nbsp;&nbsp; 2084641 |
| Massachusetts Development Finance Agency Rev. (Wellesley College), "N", 5%, 7/01/2042  | 5000000 | &nbsp;&nbsp;&nbsp; 5541826 |
| Massachusetts Development Finance Agency Rev. (Wentworth Institute of Technology), 5%, 10/01/2046  | 2000000 | &nbsp;&nbsp;&nbsp; 1934099 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Municipal Bonds – continued  | Municipal Bonds – continued  | Municipal Bonds – continued  |
| Universities - Colleges – continued | Universities - Colleges – continued | Universities - Colleges – continued |
| Massachusetts Development Finance Agency Rev. (Western New England University), 5%, 9/01/2031  | $1110000 | &nbsp;&nbsp;&nbsp; $1110940 |
| Massachusetts Development Finance Agency Rev. (Western New England University), AGM, 5%, 9/01/2038  | 2550000 | &nbsp;&nbsp;&nbsp; 2642221 |
| Massachusetts Development Finance Agency Rev. (Worcester Polytechnic Institute), 5%, 9/01/2039  | 950000 | &nbsp;&nbsp;&nbsp; 990847 |
| Massachusetts Development Finance Agency Rev. (Worcester Polytechnic Institute), 5%, 9/01/2047  | 1395000 | &nbsp;&nbsp;&nbsp; 1403596 |
| Massachusetts Health & Educational Facilities Authority Rev. (Boston College), 5.5%, 6/01/2027  | 1735000 | &nbsp;&nbsp;&nbsp; 1808595 |
| Massachusetts Health & Educational Facilities Authority Rev. (Massachusetts Institute of Technology), "I-1", 5.2%, 1/01/2028  | 1000000 | &nbsp;&nbsp;&nbsp; 1054938 |
| Puerto Rico Industrial, Tourist, Educational, Medical & Environmental Control Facilities Financing Authority, Educational Facilities <br> Rev. (University Plaza Project), NPFG, 5%, 7/01/2033 <br>| 215000 | &nbsp;&nbsp;&nbsp; 215486 |
| Puerto Rico Industrial, Tourist, Educational, Medical & Environmental Control Facilities Financing Authority, Higher Education <br> Rev. (University of Sacred Heart), 4.375%, 10/01/2031 <br>| 75000 | &nbsp;&nbsp;&nbsp; 74171 |
| Puerto Rico Industrial, Tourist, Educational, Medical & Environmental Control Facilities Financing Authority, Higher Education <br> Rev. (University of Sacred Heart), 5%, 10/01/2042 <br>| 90000 | &nbsp;&nbsp;&nbsp; 85666 |
| Red River, TX, Education Finance Corp., Higher Education Rev. (Houston Baptist University Project), 5.5%, 10/01/2046  | 470000 | &nbsp;&nbsp;&nbsp; 470528 |
|  |  | &nbsp;&nbsp;&nbsp; $72357740 |
| Universities - Dormitories – 0.6% | Universities - Dormitories – 0.6% | Universities - Dormitories – 0.6% |
| Massachusetts Development Finance Agency Rev. (Merrimack College Student Housing Project), "A", 5%, 7/01/2054  | $1300000 | &nbsp;&nbsp;&nbsp; $1250049 |
| Massachusetts Development Finance Agency Rev. (Merrimack College Student Housing Project), "A", 5%, 7/01/2060  | 1100000 | &nbsp;&nbsp;&nbsp; 1043513 |
|  |  | &nbsp;&nbsp;&nbsp; $2293562 |
| Utilities - Municipal Owned – 0.4% | Utilities - Municipal Owned – 0.4% | Utilities - Municipal Owned – 0.4% |
| Puerto Rico Electric Power Authority Refunding Rev., "DDD", 5%, 7/01/2021 (a)(d) | $315000 | &nbsp;&nbsp;&nbsp; $210263 |
| Puerto Rico Electric Power Authority Refunding Rev., "DDD", 5%, 7/01/2022 (a)(d) | 510000 | &nbsp;&nbsp;&nbsp; 340425 |
| Puerto Rico Electric Power Authority Rev., "CCC", 5.25%, 7/01/2027 (a)(d) | 300000 | &nbsp;&nbsp;&nbsp; 200250 |
| Puerto Rico Electric Power Authority Rev., "TT", 5%, 7/01/2037 (a)(d) | 415000 | &nbsp;&nbsp;&nbsp; 277012 |
| Puerto Rico Electric Power Authority Rev., "VV", NPFG, 5.25%, 7/01/2029  | 385000 | &nbsp;&nbsp;&nbsp; 388519 |
| Puerto Rico Electric Power Authority Rev., "VV", NPFG, 5.25%, 7/01/2034  | 35000 | &nbsp;&nbsp;&nbsp; 35494 |
| Puerto Rico Electric Power Authority Rev., "ZZ", 5.25%, 7/01/2023 (a)(d) | 220000 | &nbsp;&nbsp;&nbsp; 146850 |
|  |  | &nbsp;&nbsp;&nbsp; $1598813 |
| Utilities - Other – 3.3% | Utilities - Other – 3.3% | Utilities - Other – 3.3% |
| California Community Choice Financing Authority, Clean Energy Project Rev. (Green Bonds), "C", 5.25%, 1/01/2054 (Put Date <br> 10/01/2031) <br>| $2250000 | &nbsp;&nbsp;&nbsp; $2390718 |
| Patriots Energy Group Financing Agency, SC, Gas Supply Rev., "B-1", 5.25%, 2/01/2054 (Put Date 3/01/2031)  | 1200000 | &nbsp;&nbsp;&nbsp; 1297263 |
| Southeast Alabama Energy Authority (Project No. 5), "A", 5.25%, 1/01/2054 (Put Date 7/01/2029)  | 2065000 | &nbsp;&nbsp;&nbsp; 2175846 |
| Southeast Alabama Energy Authority, "A-1", 5.5%, 11/01/2053 (Put Date 1/01/2031)  | 2720000 | &nbsp;&nbsp;&nbsp; 2971516 |
| Tennergy Corp., TN, Gas Supply Rev., "A", 5.5%, 10/01/2053 (Put Date 12/01/2030)  | 1270000 | &nbsp;&nbsp;&nbsp; 1362227 |
| Tennessee Energy Acquisition Corp., Gas Project Rev., "A", 5.25%, 9/01/2026  | 885000 | &nbsp;&nbsp;&nbsp; 894004 |
| Tennessee Energy Acquisition Corp., Gas Project Rev., "A-1", 5%, 5/01/2053 (Put Date 5/01/2028)  | 2020000 | &nbsp;&nbsp;&nbsp; 2076756 |
|  |  | &nbsp;&nbsp;&nbsp; $13168330 |
| Water & Sewer Utility Revenue – 1.6% | Water & Sewer Utility Revenue – 1.6% | Water & Sewer Utility Revenue – 1.6% |
| Guam Waterworks Authority Rev. (Water and Wastewater System), "A", 5%, 1/01/2050  | $455000 | &nbsp;&nbsp;&nbsp; $457666 |
| Massachusetts Clean Water Trust, State Revolving Fund (Green Bonds), "26B", 5%, 2/01/2043  | 1000000 | &nbsp;&nbsp;&nbsp; 1101225 |
| Massachusetts Water Pollution Abatement Trust, 5.25%, 8/01/2027  | 1280000 | &nbsp;&nbsp;&nbsp; 1336050 |
| Massachusetts Water Pollution Abatement Trust, 5.25%, 8/01/2033  | 2000000 | &nbsp;&nbsp;&nbsp; 2374801 |
| Massachusetts Water Resources Authority, General Rev., "B", 5%, 8/01/2042  | 430000 | &nbsp;&nbsp;&nbsp; 467737 |
| Massachusetts Water Resources Authority, General Rev., "B", 5%, 8/01/2043  | 750000 | &nbsp;&nbsp;&nbsp; 808865 |
|  |  | &nbsp;&nbsp;&nbsp; $6546344 |
| **Total Municipal Bonds**  |  | &nbsp;&nbsp; **$392856714** |
| Bonds – 0.0%  | Bonds – 0.0%  | Bonds – 0.0%  |
| Transportation - Services – 0.0% | Transportation - Services – 0.0% | Transportation - Services – 0.0% |
| Toll Road Investors Partnership II LP, Capital Appreciation, NPFG, 0%, 2/15/2043 (n)  | $659596 | &nbsp;&nbsp;&nbsp; $226769 |
| Contingent Value Instruments – 0.1% | Contingent Value Instruments – 0.1% | Contingent Value Instruments – 0.1% |
| General Obligations - General Purpose – 0.1% | General Obligations - General Purpose – 0.1% | General Obligations - General Purpose – 0.1% |
| Commonwealth of Puerto Rico, General Obligation Contingent Value Instrument, 11/01/2043  | $553451 | &nbsp;&nbsp;&nbsp; $354208 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Mutual Funds (h) – 0.7%  | Mutual Funds (h) – 0.7%  | Mutual Funds (h) – 0.7%  |
| Money Market Funds – 0.7% | Money Market Funds – 0.7% |  |
| MFS Institutional Money Market Portfolio, 3.82% (v)  | 2918351 | &nbsp;&nbsp;&nbsp; $2918935 |
| Other Assets, Less Liabilities – 1.2% |  | &nbsp;&nbsp;&nbsp; 4656820 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; **$401013446** |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(d) In default.

&nbsp;&nbsp;&nbsp;&nbsp;(h) An affiliated issuer, which may be considered one in which the fund owns 5% or more
 of the outstanding voting securities, or a company which is under common control. At period end, the aggregate values of the fund's investments in affiliated
 issuers and in unaffiliated issuers were $2,918,935 and $393,437,691, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;(n) Securities exempt from registration under Rule 144A of the Securities Act of 1933.
 These securities may be sold in the ordinary course of business in transactions exempt from registration, normally to qualified institutional buyers.
 At period end, the aggregate value of these securities was $3,904,844, representing 1.0% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(v) Affiliated issuer that is available only to investment companies managed by MFS. The
 rate quoted for the MFS Institutional Money Market Portfolio is the annualized seven-day yield of the fund at period end.

&nbsp;&nbsp;&nbsp;&nbsp;(w) When-issued security.

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

---

| | |
|:---|:---|
| The following abbreviations are used in this report and are defined: | The following abbreviations are used in this report and are defined: |
| AAC | Ambac Assurance Corp. |
| AGM | Assured Guaranty Municipal |
| FHA | Federal Housing Administration |
| FNMA | Federal National Mortgage Assn. |
| GNMA | Government National Mortgage Assn. |
| NPFG | National Public Finance Guarantee Corp. |
| SYNCORA | Syncora Guarantee Inc. |

---

See attached supplemental information. For more information see notes to financial statements as disclosed in the most recent semiannual or annual report.

------

**Supplemental Information**

12/31/25 (unaudited)

The fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial

Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies.

**(1) Investment Valuations**

Subject to its oversight, the fund's Board of Trustees has delegated primary responsibility for determining or causing to be determined the value of the fund's investments to MFS as the fund's adviser, pursuant to the fund's valuation policy and procedures which have been adopted by the adviser and approved by the Board. In accordance with Rule 2a-5 under the Investment Company Act of 1940, the Board of Trustees designated the adviser as the "valuation designee" of the fund. If the adviser, as valuation designee, determines that reliable market quotations are not readily available for an investment, the investment is valued at fair value as determined in good faith by the adviser in accordance with the adviser's fair valuation policy and procedures.

Under the fund's valuation policy and procedures, debt instruments and floating rate loans, including restricted debt instruments, are

generally valued at an evaluated or composite bid as provided by a third-party pricing service. Short-term instruments with a maturity at

issuance of 60 days or less may be valued at amortized cost, which approximates market value. Open-end investment companies are generally valued at net asset value per share.

Under the fund's valuation policy and procedures, market quotations are not considered to be readily available for debt instruments, floating rate loans, and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services or otherwise determined by the adviser in accordance with the adviser's fair valuation policy and procedures. Securities and other assets generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. In determining values, third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, spreads and other market data. Pricing services generally value debt instruments assuming orderly transactions of institutional round lot sizes, but a fund may hold or transact in such securities in smaller, odd lot sizes. In instances where a fund holds an odd lot size position in a debt instrument, such position will typically be valued using the pricing agent's institutional round lot price for the debt instrument. Odd lots may trade at lower prices than institutional round lots, and the fund may receive different prices when it sells odd lot positions than it would receive for sales of institutional round lot positions. An investment may also be valued at fair value if the adviser determines that the investment's value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of the fund's net asset value, or after the halt of trading of a specific security where trading does not resume prior to the close of the exchange or market on which the security is principally traded. The adviser generally relies on third-party pricing services or other information (such as the correlation with price movements of similar securities in the same or other markets; the type, cost and investment characteristics of the security; the business and financial condition of the issuer; and trading and other market data) to assist in determining whether to fair value and at what value to fair value an investment. The value of an investment for purposes of calculating the fund's net asset value can differ depending on the source and method used to determine value. When fair valuation is used, the value of an investment used to determine the fund's net asset value may differ from quoted or published prices for the same investment. There can be no assurance that the fund could obtain the fair value assigned to an investment if it were to sell the investment at the same time at which the fund determines its net

asset value per share.

Various inputs are used in determining the value of the fund's assets or liabilities. These inputs are categorized into three broad levels. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fund's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes other significant observable market-based inputs (including quoted prices for similar securities, interest rates, prepayment speed, and credit risk). Level 3 includes significant unobservable inputs, which may include the adviser's own assumptions in determining the fair value of investments. The following is a summary of the levels used as of December 31, 2025 in valuing the fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Financial Instruments** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Municipal Bonds | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $393210922 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $393210922 |
| U.S. Corporate Bonds | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 226769 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 226769 |
| Investment Companies | &nbsp;&nbsp;&nbsp; 2918935 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2918935 |
| Total | &nbsp;&nbsp;&nbsp; $2918935 | &nbsp;&nbsp;&nbsp; $393437691 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $396356626 |

---

For further information regarding security characteristics, see the Portfolio of Investments.

------

*Supplemental Information (unaudited) – continued*

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

**(2) Investments in Affiliated Issuers**

An affiliated issuer may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. The following were affiliated issuers for the period ended December 31, 2025:

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated Issuers** | **Beginning** <br>**Value**<br>| **Purchases** | **Sales** <br>**Proceeds**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation or** <br>**Depreciation**<br>| **Ending** <br>**Value**<br>|
| MFS Institutional Money Market Portfolio  | &nbsp;&nbsp; $5866473 | &nbsp;&nbsp; $92737903 | &nbsp;&nbsp; $95687056 | &nbsp;&nbsp; $1197 | &nbsp;&nbsp; $418 | &nbsp;&nbsp; $2918935<br>|

---

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

---

| | | |
|:---|:---|:---|
| **Affiliated Issuers** | **Dividend** <br>**Income**<br>| **Capital Gain** <br>**Distributions**<br>|
| MFS Institutional Money Market Portfolio  | &nbsp;&nbsp; $312011 | &nbsp;&nbsp; $— |

---

**(3) Jurisdiction Weightings**

Jurisdiction weighting percentages based on net assets, as of December 31, 2025, are as follows:

---

| | |
|:---|:---|
| Massachusetts  | 85.4% |
| Puerto Rico  | 3.2% |
| California  | 1.8% |
| Illinois  | 1.5% |
| Alabama  | 1.3% |
| New York  | 1.1% |
| Tennessee  | 1.1% |
| Texas  | 0.7% |
| Connecticut  | 0.6% |
| Ohio  | 0.4% |
| Pennsylvania  | 0.4% |
| Guam | 0.3% |
| New Hampshire | 0.3% |
| New Jersey | 0.3% |
| North Carolina | 0.3% |
| South Carolina  | 0.3% |
| U.S. Virgin Islands | 0.3% |
| Wisconsin  | 0.2% |
| Colorado | 0.1% |
| Virginia | 0.1% |
| Washington DC | 0.1% |
| Maryland (o) | 0.0% |

---

(o) Less than 0.1%.

The jurisdiction weighting percentages include both accrued interest amounts and equivalent exposure from any derivatives holdings, if applicable.

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** MFS Municipal Series Trust

- **b. Investment Company Act file number:** 811-04096

- **c. CIK number of Registrant:** 0000751656

- **d. LEI of Registrant:** 5493001Q9KE7H84Z5340

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

  - **Street Address 1:** 111 Huntington Avenue

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02199

  - **Telephone number:** 617-954-5000

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

- **a. Name of Series:** MFS Massachusetts Municipal Bond Fund

- **b. EDGAR series identifier (if any):** S000002534

- **c. LEI of Series:** MI3C3CKY7VNRDNDWCO87

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-12-31

**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:** $404189279.05

**Total Liabilities:** $3175836.33

**Net Assets:** $401013442.72

**Delayed Delivery Securities:** $1101547.80

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -723.86184450 | **1-Year:** -15226.31126550 | **5-Year:** -54606.18511300 | **10-Year:** -138995.36262750 | **30-Year:** -60709.68847910

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

- **3-Month:** -86.62406060 | **1-Year:** -1694.96024060 | **5-Year:** -4954.89739220 | **10-Year:** -9202.53969210 | **30-Year:** -5930.79790160

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000006987 | 1.27%                | 0.36%                | -0.02%               |
| Class ID C000006988 | 1.20%                | 0.30%                | -0.08%               |
| Class ID C000169770 | 1.32%                | 0.40%                | -0.04%               |
| Class ID C000194250 | 1.33%                | 0.29%                | 0.08%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-337503.12              | $4309640.98                                |
| Month 2  | $1304.58                 | $305596.21                                 |
| Month 3  | $2207.57                 | $-1081875.27                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Anaheim City School District                                                                              | Anaheim City School District                                                                              | CUSIP: 032555QY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1285000 | PA      | $1238609.83   | 0.31%             | 2048-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Village of Bridgeview IL                                                                                  | Village of Bridgeview                                                                                     | CUSIP: 108555GG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    705000 | PA      | $659403.77    | 0.16%             | 2036-12-01      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| City of Brockton MA                                                                                       | City of Brockton                                                                                          | CUSIP: 111746LA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1740000 | PA      | $1611683.35   | 0.40%             | 2052-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Brunswick MD                                                                                      | City of Brunswick                                                                                         | CUSIP: 117250AD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $19960.51     | 0.00%             | 2029-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Brunswick MD                                                                                      | City of Brunswick                                                                                         | CUSIP: 117250AE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     31000 | PA      | $31572.95     | 0.01%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Buckeye Tobacco Settlement Financing Authority                                                            | Buckeye Tobacco Settlement Financing Authority                                                            | CUSIP: 118217CX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1290000 | PA      | $1113744.33   | 0.28%             | 2048-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Buckeye Tobacco Settlement Financing Authority                                                            | Buckeye Tobacco Settlement Financing Authority                                                            | CUSIP: 118217CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    505000 | PA      | $408778.76    | 0.10%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                                           | California Community Choice Financing Authority                                                           | CUSIP: 13013JCM6<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2390717.93   | 0.60%             | 2054-01-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                                          | California Health Facilities Financing Authority                                                          | CUSIP: 13032UB49<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   2405000 | PA      | $2504090.81   | 0.62%             | 2051-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cedar Port Navigation & Improvement District                                                              | Cedar Port Navigation & Improvement District, Series 2023                                                 | CUSIP: 15051PAZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    395000 | PA      | $382148.64    | 0.10%             | 2048-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Cedar Port Navigation & Improvement District                                                              | Cedar Port Navigation & Improvement District, Series 2023                                                 | CUSIP: 15051PBD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $153047.57    | 0.04%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                                                | Chicago Board of Education                                                                                | CUSIP: 167505YC4<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1270000 | PA      | $988879.79    | 0.25%             | 2047-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education Dedicated Capital Improvement Tax                                              | Chicago Board of Education Dedicated Capital Improvement Tax, Series 2016                                 | CUSIP: 167510AD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1670000 | PA      | $1708073.33   | 0.43%             | 2035-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education Dedicated Capital Improvement Tax                                              | Chicago Board of Education Dedicated Capital Improvement Tax                                              | CUSIP: 167510BH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    270000 | PA      | $270131.57    | 0.07%             | 2045-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education Dedicated Capital Improvement Tax                                              | Chicago Board of Education Dedicated Capital Improvement Tax                                              | CUSIP: 167510BJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    710000 | PA      | $745127.04    | 0.19%             | 2048-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Connecticut Housing Finance Authority                                                                     | Connecticut Housing Finance Authority, Series 2017                                                        | CUSIP: 20775CTX2<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |    130000 | PA      | $130305.12    | 0.03%             | 2047-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State Health & Educational Facilities Authority                                               | Connecticut State Health & Educational Facilities Authority                                               | CUSIP: 20775DSQ6<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   2830000 | PA      | $2117572.69   | 0.53%             | 2047-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| City & County of Denver CO Airport System Revenue                                                         | City & County of Denver                                                                                   | CUSIP: 249182QW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    265000 | PA      | $242852.76    | 0.06%             | 2047-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| City & County of Denver CO Airport System Revenue                                                         | City & County of Denver                                                                                   | CUSIP: 249182QY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $223597.40    | 0.06%             | 2053-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                                                      | District of Columbia                                                                                      | CUSIP: 25483VUX0<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    290000 | PA      | $250407.72    | 0.06%             | 2056-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Energy Southeast A Cooperative District                                                                   | Energy Southeast A Cooperative District                                                                   | CUSIP: 292723AK9<br>LEI: 2549001SMMZ81MXBXZ89 | Long             | DBT              | MUN               | US        |   2720000 | PA      | $2971515.95   | 0.74%             | 2053-11-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Framingham MA                                                                                     | City of Framingham                                                                                        | CUSIP: 351695CE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1095000 | PA      | $1173849.86   | 0.29%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Framingham MA                                                                                     | City of Framingham                                                                                        | CUSIP: 351695CF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1130000 | PA      | $1202653.24   | 0.30%             | 2042-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Golden State Tobacco Securitization Corp.                                                                 | Golden State Tobacco Securitization Corp.                                                                 | CUSIP: 38122ND82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    880000 | PA      | $804277.41    | 0.20%             | 2050-06-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Guam Government Waterworks Authority                                                                      | Guam Government Waterworks Authority                                                                      | CUSIP: 40065FDF8<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |    455000 | PA      | $457665.85    | 0.11%             | 2050-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Territory of Guam                                                                                         | Territory of Guam                                                                                         | CUSIP: 40065HDU1<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |    120000 | PA      | $121258.90    | 0.03%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Territory of Guam                                                                                         | Territory of Guam                                                                                         | CUSIP: 40065HDV9<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |    370000 | PA      | $372798.27    | 0.09%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Territory of Guam                                                                                         | Territory of Guam                                                                                         | CUSIP: 40065NCR6<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |    255000 | PA      | $245860.44    | 0.06%             | 2042-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Harris County Cultural Education Facilities Finance Corp.                                                 | Harris County Cultural Education Facilities Finance Corp.                                                 | CUSIP: 414009RR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1960000 | PA      | $1777262.14   | 0.44%             | 2052-07-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Town of Hingham MA                                                                                        | Town of Hingham, Series 2025                                                                              | CUSIP: 433344YK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3020000 | PA      | $2898732.81   | 0.72%             | 2050-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                                         | State of Illinois                                                                                         | CUSIP: 4521526L0<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    280000 | PA      | $299607.50    | 0.07%             | 2039-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                                         | State of Illinois                                                                                         | CUSIP: 4521526M8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    255000 | PA      | $269016.33    | 0.07%             | 2045-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                                         | State of Illinois                                                                                         | CUSIP: 4521527E5<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    630000 | PA      | $607997.12    | 0.15%             | 2040-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                                         | State of Illinois                                                                                         | CUSIP: 4521527F2<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    280000 | PA      | $267598.13    | 0.07%             | 2041-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Lawrence MA                                                                                       | City of Lawrence                                                                                          | CUSIP: 520229BC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2260877.10   | 0.56%             | 2049-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| City of Lawrence MA                                                                                       | City of Lawrence                                                                                          | CUSIP: 520229CD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1665000 | PA      | $1633639.06   | 0.41%             | 2044-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Collegiate Charter School of Lowell                                                                       | Collegiate Charter School of Lowell                                                                       | CUSIP: 547649AB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001331.60   | 0.25%             | 2039-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Collegiate Charter School of Lowell                                                                       | Collegiate Charter School of Lowell                                                                       | CUSIP: 547649AD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $930690.30    | 0.23%             | 2054-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MFS Institutional Money Market Portfolio                                                                  | MFS Institutional Money Market Portfolio, Class A                                                         | CUSIP: 55291X109<br>LEI: 5L2W638H85N8T1136O07 | Long             | STIV             | RF                | US        |   2892279 | NS      | $2892857.68   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Massachusetts Bay Transportation Authority Sales Tax Revenue                                              | Massachusetts Bay Transportation Authority Sales Tax, Series 2025 B                                       | CUSIP: 5755792D8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3253221.90   | 0.81%             | 2047-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Bay Transportation Authority Sales Tax Revenue                                              | Massachusetts Bay Transportation Authority Sales Tax, Series 2025 B                                       | CUSIP: 5755792J5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4265076.40   | 1.06%             | 2055-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Bay Transportation Authority Sales Tax Revenue                                              | Massachusetts Bay Transportation Authority Sales Tax Revenue                                              | CUSIP: 575579QA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1850000 | PA      | $2032253.12   | 0.51%             | 2029-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Bay Transportation Authority Sales Tax Revenue                                              | Massachusetts Bay Transportation Authority Sales Tax, Series 2016 A                                       | CUSIP: 575579ZQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1465000 | PA      | $1279250.60   | 0.32%             | 2030-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Transportation Trust Fund Metropolitan Highway System Revenue                               | Massachusetts Transportation Trust Fund Metropolitan Highway System Revenue                               | CUSIP: 57563CDX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1057482.90   | 0.26%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                                                             | Massachusetts Educational Financing Authority                                                             | CUSIP: 57563RQA0<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $1945177.88   | 0.49%             | 2046-07-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                                                             | Massachusetts Educational Financing Authority                                                             | CUSIP: 57563RQV4<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3274496.80   | 0.82%             | 2047-07-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                                                             | Massachusetts Educational Financing Authority                                                             | CUSIP: 57563RRM3<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1468563.74   | 0.37%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                                                             | Massachusetts Educational Financing Authority                                                             | CUSIP: 57563RRN1<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1382239.04   | 0.34%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                                                             | Massachusetts Educational Financing Authority                                                             | CUSIP: 57563RSJ9<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |   2105000 | PA      | $1751590.92   | 0.44%             | 2037-07-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                                                             | Massachusetts Educational Financing Authority                                                             | CUSIP: 57563RSK6<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1364942.00   | 0.34%             | 2051-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                                                             | Massachusetts Educational Financing Authority                                                             | CUSIP: 57563RTC3<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1075024.00   | 0.27%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                                                             | Massachusetts Educational Financing Authority                                                             | CUSIP: 57563RTE9<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2505107.40   | 0.62%             | 2052-07-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                                                             | Massachusetts Educational Financing Authority, Series 2024 B                                              | CUSIP: 57563RUB3<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1834871.40   | 0.46%             | 2032-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                                                             | Massachusetts Educational Financing Authority, Series 2024C                                               | CUSIP: 57563RUC1<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1565341.85   | 0.39%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Clean Water Trust (The)                                                                     | Massachusetts Clean Water Trust (The), Series 26B                                                         | CUSIP: 575829NQ5<br>LEI: 549300SYPEROLSQU0261 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1101225.20   | 0.27%             | 2043-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                                             | Commonwealth of Massachusetts                                                                             | CUSIP: 57582NXN0<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   2225000 | PA      | $2382355.34   | 0.59%             | 2028-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                                             | Commonwealth of Massachusetts, Series 2023A                                                               | CUSIP: 57582R3A2<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   2130000 | PA      | $2198803.90   | 0.55%             | 2053-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                                             | Commonwealth of Massachusetts, Series 2024B                                                               | CUSIP: 57582R7Y6<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2098604.20   | 0.52%             | 2048-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                                             | Commonwealth of Massachusetts, Series 2024B                                                               | CUSIP: 57582R8A7<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   2115000 | PA      | $2192553.67   | 0.55%             | 2054-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                                             | Commonwealth of Massachusetts, Series 2015 B                                                              | CUSIP: 57582RDF0<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1912990.80   | 0.48%             | 2045-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                                             | Commonwealth of Massachusetts                                                                             | CUSIP: 57582RQN9<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3063397.80   | 0.76%             | 2042-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                                             | Commonwealth of Massachusetts, Series 2024 E                                                              | CUSIP: 57582TAQ5<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   2930000 | PA      | $3044382.51   | 0.76%             | 2053-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                                             | Commonwealth of Massachusetts, Series 2025F                                                               | CUSIP: 57582TFF4<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4203626.00   | 1.05%             | 2049-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                                             | Commonwealth of Massachusetts, Series 2025G                                                               | CUSIP: 57582TGE6<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1060725.90   | 0.26%             | 2047-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57583RJF3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    495000 | PA      | $498412.68    | 0.12%             | 2026-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57583UN79<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000868.60   | 0.50%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57583UQ84<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    265000 | PA      | $231499.44    | 0.06%             | 2044-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584X2E0<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1395000 | PA      | $1403595.57   | 0.35%             | 2047-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584X4L2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1263174.25   | 0.31%             | 2037-10-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584X8V6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1487854.50   | 0.37%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XBA8<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1251303.13   | 0.31%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XCF6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000643.40   | 0.50%             | 2033-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XD65<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2007073.60   | 0.50%             | 2042-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XDR9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1015000 | PA      | $1015709.99   | 0.25%             | 2031-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XEF4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500356.35    | 0.12%             | 2030-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XF63<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2020611.20   | 0.50%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XGY1<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1110000 | PA      | $1110940.17   | 0.28%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XJ36<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1934099.40   | 0.48%             | 2046-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XJF9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1810000 | PA      | $1820319.17   | 0.45%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XJG7<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1503993.30   | 0.38%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XKC4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1850000 | PA      | $1855892.07   | 0.46%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XKJ9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1508853.60   | 0.38%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XM73<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    850000 | PA      | $855955.53    | 0.21%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XM81<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   3055000 | PA      | $2899568.93   | 0.72%             | 2039-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XMU2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007343.70   | 0.25%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XNN7<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2302729.64   | 0.57%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XNY3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2690000 | PA      | $2716165.63   | 0.68%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XPY1<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1927533.40   | 0.48%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XPZ8<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1122714.45   | 0.28%             | 2046-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XQ87<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $968786.40    | 0.24%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584Y3V9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2122448.80   | 0.53%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584Y4J5<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2215658.31   | 0.55%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency, Series 2023 G                                                   | CUSIP: 57584Y4T3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1994608.00   | 0.50%             | 2052-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency, Series 2023 F                                                   | CUSIP: 57584Y6Q7<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    850000 | PA      | $933651.99    | 0.23%             | 2040-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency, Series 2023 F                                                   | CUSIP: 57584Y6S3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    950000 | PA      | $1022101.49   | 0.25%             | 2042-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency, Series 2023 F                                                   | CUSIP: 57584Y6T1<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1230742.13   | 0.31%             | 2043-11-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency, Series 2024D                                                    | CUSIP: 57584Y7Y9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3068014.80   | 0.77%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YAH2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000867.70   | 0.25%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YC98<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   4075000 | PA      | $3747969.43   | 0.93%             | 2045-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YDJ5<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1008069.40   | 0.25%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YF53<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1107720.70   | 0.28%             | 2046-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YFJ3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    725000 | PA      | $725718.11    | 0.18%             | 2043-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YFK0<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2845000 | PA      | $2752829.40   | 0.69%             | 2048-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YGN3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1038271.60   | 0.26%             | 2037-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YGP8<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1035706.60   | 0.26%             | 2038-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YGQ6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023295.20   | 0.26%             | 2043-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YJR1<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1043955.80   | 0.26%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YJS9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1041481.90   | 0.26%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YJU4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2855000 | PA      | $2922205.84   | 0.73%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YJV2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   3115000 | PA      | $3153450.63   | 0.79%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YL56<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $856329.40    | 0.21%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YL64<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1385000 | PA      | $1145260.66   | 0.29%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YLH0<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    835000 | PA      | $872318.40    | 0.22%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YMD8<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2550000 | PA      | $2642221.01   | 0.66%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YN21<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    250000 | PA      | $210892.05    | 0.05%             | 2045-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YN62<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    475000 | PA      | $422448.19    | 0.11%             | 2042-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YN70<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1825000 | PA      | $1489249.46   | 0.37%             | 2050-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YPB9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   3015000 | PA      | $3180645.61   | 0.79%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YPD5<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2665000 | PA      | $2799531.33   | 0.70%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YQJ1<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1974251.20   | 0.49%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YQK8<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2080000 | PA      | $1799465.62   | 0.45%             | 2044-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YRY7<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    970000 | PA      | $988701.12    | 0.25%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YSA8<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    625000 | PA      | $633053.38    | 0.16%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YSB6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    340000 | PA      | $344074.56    | 0.09%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YSK6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1574302.20   | 0.39%             | 2049-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency, Series 2021                                                     | CUSIP: 57584YT74<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    900000 | PA      | $768236.04    | 0.19%             | 2051-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YT90<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $508007.45    | 0.13%             | 2031-01-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YTF6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    635000 | PA      | $669935.60    | 0.17%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YTG4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    850000 | PA      | $893716.95    | 0.22%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YTH2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    700000 | PA      | $733930.54    | 0.18%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YVB2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    400000 | PA      | $428704.80    | 0.11%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YVN6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    950000 | PA      | $990846.58    | 0.25%             | 2039-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YWG0<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    485000 | PA      | $453649.16    | 0.11%             | 2042-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YWH8<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    525000 | PA      | $531332.34    | 0.13%             | 2042-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YX53<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1130351.40   | 0.28%             | 2056-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57585AAC4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    415361 | PA      | $4.15         | 0.00%             | 2037-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency, Series 2024 T                                                   | CUSIP: 57585BAB4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3163188.30   | 0.79%             | 2054-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency, Series 2024 T                                                   | CUSIP: 57585BAC2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2344231.75   | 0.58%             | 2054-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency, Series 2024 A                                                   | CUSIP: 57585BBG2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2194076.00   | 0.55%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency, Series 2024                                                     | CUSIP: 57585BBQ0<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1261825.70   | 0.31%             | 2054-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency, Series 2024A                                                    | CUSIP: 57585BBT4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1250048.67   | 0.31%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency, Series 2024A                                                    | CUSIP: 57585BBU1<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1043513.46   | 0.26%             | 2060-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency, Series 2025                                                     | CUSIP: 57585BDY1<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1020000 | PA      | $1040661.12   | 0.26%             | 2044-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency, Series 2025 N-1                                                 | CUSIP: 57585BEX2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5147577.50   | 1.28%             | 2050-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency, Series 2025B-2                                                  | CUSIP: 57585BGQ5<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2102948.20   | 0.52%             | 2048-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency, Series 2025W                                                    | CUSIP: 57585BHN1<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   3850000 | PA      | $3677471.88   | 0.92%             | 2055-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency, Series 2025 G                                                   | CUSIP: 57585BHQ4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3666183.85   | 0.91%             | 2051-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency, Series 2025                                                     | CUSIP: 57585BJF6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1276368.75   | 0.32%             | 2055-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency, Series 2025                                                     | CUSIP: 57585BJU3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2005546.80   | 0.50%             | 2055-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency, Series 2025 A                                                   | CUSIP: 57585BKB3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3104382.90   | 0.77%             | 2050-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency, Series 2025                                                     | CUSIP: 57585BMV7<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2084641.40   | 0.52%             | 2055-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency, Series N                                                        | CUSIP: 57585BPC6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2116227.60   | 0.53%             | 2055-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency, Series N                                                        | CUSIP: 57585BPE2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2147076.80   | 0.54%             | 2055-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency, Series 2025 N                                                   | CUSIP: 57585BQE1<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5541825.50   | 1.38%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Health & Educational Facilities Authority                                                   | Massachusetts Health & Educational Facilities Authority                                                   | CUSIP: 57585JVZ1<br>LEI: 549300MV50RWQFTX5223 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1054937.90   | 0.26%             | 2028-01-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Massachusetts Health & Educational Facilities Authority                                                   | Massachusetts Health & Educational Facilities Authority                                                   | CUSIP: 57586CS71<br>LEI: 549300MV50RWQFTX5223 | Long             | DBT              | MUN               | US        |   1735000 | PA      | $1808595.06   | 0.45%             | 2027-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency                                                                      | CUSIP: 57586N6M8<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $857888.90    | 0.21%             | 2039-12-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency                                                                      | CUSIP: 57586N6N6<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1666507.80   | 0.42%             | 2044-12-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency                                                                      | CUSIP: 57586NZ61<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $999963.50    | 0.25%             | 2038-12-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency                                                                      | CUSIP: 57586NZ79<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   2025000 | PA      | $1939114.89   | 0.48%             | 2043-12-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency, Series 2013B                                                        | CUSIP: 57586P7K6<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3000792.90   | 0.75%             | 2036-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency, Series 2023 C1                                                      | CUSIP: 57586VAY9<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1025092.90   | 0.26%             | 2043-12-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency, Series 2023 C1                                                      | CUSIP: 57586VAZ6<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1018212.90   | 0.25%             | 2048-12-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency, Series 2023 C1                                                      | CUSIP: 57586VBA0<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1017560.90   | 0.25%             | 2053-12-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency, Series 2024A-1                                                      | CUSIP: 57586VCE1<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1013782.20   | 0.25%             | 2044-12-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency, Series 2024A-1                                                      | CUSIP: 57586VCF8<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    800000 | PA      | $800323.28    | 0.20%             | 2049-12-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency, Series 2024A-1                                                      | CUSIP: 57586VCG6<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $984967.50    | 0.25%             | 2054-12-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency                                                                      | CUSIP: 57586YCB1<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   1425000 | PA      | $1426218.66   | 0.36%             | 2030-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency                                                                      | CUSIP: 57586YCC9<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   1190000 | PA      | $1190909.87   | 0.30%             | 2032-12-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency                                                                      | CUSIP: 57587A2Y3<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   1865000 | PA      | $1513893.79   | 0.38%             | 2044-12-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency                                                                      | CUSIP: 57587AQ92<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    365000 | PA      | $359291.91    | 0.09%             | 2034-06-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency                                                                      | CUSIP: 57587AR26<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    485000 | PA      | $476354.34    | 0.12%             | 2036-12-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency, Series 249                                                          | CUSIP: 57587G4N2<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3001077.90   | 0.75%             | 2050-12-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency, Series 234                                                          | CUSIP: 57587GE76<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1255424.38   | 0.31%             | 2044-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency, Series 234                                                          | CUSIP: 57587GE84<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2761369.33   | 0.69%             | 2049-12-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency                                                                      | CUSIP: 57587GEB7<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    400000 | PA      | $366666.72    | 0.09%             | 2029-12-01      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency, Series 222                                                          | CUSIP: 57587GJG1<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    720000 | PA      | $708135.48    | 0.18%             | 2051-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency, Series 237                                                          | CUSIP: 57587GL86<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    630000 | PA      | $614393.58    | 0.15%             | 2049-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency, Series 237                                                          | CUSIP: 57587GL94<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    500000 | PA      | $491490.75    | 0.12%             | 2054-12-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency                                                                      | CUSIP: 57587GQY4<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3071837.70   | 0.77%             | 2057-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency                                                                      | CUSIP: 57587GSH9<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   3320000 | PA      | $3515191.43   | 0.88%             | 2052-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency, Series 242                                                          | CUSIP: 57587GV51<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1499167.65   | 0.37%             | 2050-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency                                                                      | CUSIP: 57587GWC5<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2005940.00   | 0.50%             | 2027-12-01      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency, Series 230                                                          | CUSIP: 57587GYU3<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    315000 | PA      | $316363.82    | 0.08%             | 2026-06-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency, Series 231                                                          | CUSIP: 57587GZQ1<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    500000 | PA      | $535900.90    | 0.13%             | 2033-12-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency, Series 231                                                          | CUSIP: 57587GZS7<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    560000 | PA      | $595618.46    | 0.15%             | 2034-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                                              | Massachusetts Port Authority                                                                              | CUSIP: 575896SP1<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3017462.70   | 0.75%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                                              | Massachusetts Port Authority                                                                              | CUSIP: 575896SQ9<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1505682.75   | 0.38%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                                              | Massachusetts Port Authority                                                                              | CUSIP: 575896TL9<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2092853.00   | 0.52%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                                              | Massachusetts Port Authority                                                                              | CUSIP: 575896TN5<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   2755000 | PA      | $2858635.66   | 0.71%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                                              | Massachusetts Port Authority                                                                              | CUSIP: 575896VG7<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3055901.70   | 0.76%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                                              | Massachusetts Port Authority                                                                              | CUSIP: 575896YK5<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   3055000 | PA      | $3088792.58   | 0.77%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                                              | Massachusetts Port Authority                                                                              | CUSIP: 575896ZA6<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   3455000 | PA      | $3624130.54   | 0.90%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                                              | Massachusetts Port Authority                                                                              | CUSIP: 575898DP3<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   1180000 | PA      | $1228557.00   | 0.31%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                                              | Massachusetts Port Authority                                                                              | CUSIP: 575898DQ1<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2076159.80   | 0.52%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts School Building Authority                                                                   | Massachusetts School Building Authority, Series 2025 A                                                    | CUSIP: 576000E33<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1066461.50   | 0.27%             | 2050-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts School Building Authority                                                                   | Massachusetts School Building Authority, Series 2025 A                                                    | CUSIP: 576000E41<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4182069.60   | 1.04%             | 2050-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts School Building Authority                                                                   | Massachusetts School Building Authority                                                                   | CUSIP: 576000WX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4117334.80   | 1.03%             | 2044-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Clean Water Trust (The)                                                                     | Massachusetts Clean Water Trust (The)                                                                     | CUSIP: 57604PB78<br>LEI: 549300SYPEROLSQU0261 | Long             | DBT              | MUN               | US        |   1280000 | PA      | $1336050.30   | 0.33%             | 2027-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Clean Water Trust (The)                                                                     | Massachusetts Clean Water Trust (The)                                                                     | CUSIP: 57604PC51<br>LEI: 549300SYPEROLSQU0261 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2374800.80   | 0.59%             | 2033-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts Transportation Fund Revenue                                                 | Commonwealth of Massachusetts Transportation Fund Revenue                                                 | CUSIP: 57604TEC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2850000 | PA      | $2870655.38   | 0.72%             | 2036-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts Transportation Fund Revenue                                                 | Commonwealth of Massachusetts Transportation Fund Revenue                                                 | CUSIP: 57604TGG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3050530.50   | 0.76%             | 2042-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts Transportation Fund Revenue                                                 | Commonwealth of Massachusetts Transportation Fund, Series 2023B                                           | CUSIP: 57604TKH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3124982.70   | 0.78%             | 2049-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts Transportation Fund Revenue                                                 | Commonwealth of Massachusetts Transportation Fund, Series 2024A                                           | CUSIP: 57604TLG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4155944.00   | 1.04%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts Transportation Fund Revenue                                                 | Commonwealth of Massachusetts Transportation Fund, Series 2025A                                           | CUSIP: 57604TLX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5295819.50   | 1.32%             | 2048-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts Transportation Fund Revenue                                                 | Commonwealth of Massachusetts Transportation Fund, Series 2025A                                           | CUSIP: 57604TLY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2107961.00   | 0.53%             | 2049-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Water Resources Authority                                                                   | Massachusetts Water Resources Authority                                                                   | CUSIP: 576051E36<br>LEI: 549300GBS2G3YGHOYO19 | Long             | DBT              | MUN               | US        |    430000 | PA      | $467737.40    | 0.12%             | 2042-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Water Resources Authority                                                                   | Massachusetts Water Resources Authority                                                                   | CUSIP: 576051E44<br>LEI: 549300GBS2G3YGHOYO19 | Long             | DBT              | MUN               | US        |    750000 | PA      | $808864.80    | 0.20%             | 2043-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Matching Fund Special Purpose Securitization Corp.                                                        | Matching Fund Special Purpose Securitization Corp.                                                        | CUSIP: 57665NAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | VI        |    140000 | PA      | $141247.89    | 0.04%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Town of Nantucket MA                                                                                      | Town of Nantucket                                                                                         | CUSIP: 630191X41<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1090000 | PA      | $1126497.23   | 0.28%             | 2039-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Town of Nantucket MA                                                                                      | Town of Nantucket                                                                                         | CUSIP: 630191X58<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1150538.18   | 0.29%             | 2040-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Town of Nantucket MA                                                                                      | Town of Nantucket                                                                                         | CUSIP: 630191X66<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1013286.90   | 0.25%             | 2041-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Nashoba Regional School District/MA                                                                       | Nashoba Regional School District                                                                          | CUSIP: 631192GN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3010000 | PA      | $2921005.14   | 0.73%             | 2045-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                                                  | New Hampshire Business Finance Authority                                                                  | CUSIP: 63607WAC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1071896 | PA      | $1091180.97   | 0.27%             | 2036-09-20      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| City of New Bedford MA                                                                                    | City of New Bedford                                                                                       | CUSIP: 642170SB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2872688.10   | 0.72%             | 2047-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Higher Education Student Assistance Authority                                                  | New Jersey Higher Education Student Assistance Authority                                                  | CUSIP: 646080WP2<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |   1185000 | PA      | $1179037.91   | 0.29%             | 2041-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp.                                                                        | New York Liberty Development Corp.                                                                        | CUSIP: 649519DA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    950000 | PA      | $948484.66    | 0.24%             | 2044-11-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| New York State Dormitory Authority                                                                        | New York State Dormitory Authority                                                                        | CUSIP: 65000BNG9<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1833286.80   | 0.46%             | 2052-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                                                                 | New York Transportation Development Corp., Series 2024                                                    | CUSIP: 650116HR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1675000 | PA      | $1698051.85   | 0.42%             | 2060-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| North Carolina Housing Finance Agency                                                                     | North Carolina Housing Finance Agency, Series M TEMS 2024                                                 | CUSIP: 65821GAA2<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |    985325 | PA      | $1021640.13   | 0.25%             | 2040-05-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Patriots Energy Group Financing Agency                                                                    | Patriots Energy Group Financing Agency, Series 2023 SUB B-1                                               | CUSIP: 70342PAR5<br>LEI: 5493008X0DFBVFH4HL19 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1297263.12   | 0.32%             | 2054-02-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                                                     | Pennsylvania Economic Development Financing Authority                                                     | CUSIP: 70868YAX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1495000 | PA      | $1474487.40   | 0.37%             | 2057-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Pittsfield MA                                                                                     | City of Pittsfield                                                                                        | CUSIP: 725464GB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    685000 | PA      | $689179.60    | 0.17%             | 2041-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Pittsfield MA                                                                                     | City of Pittsfield                                                                                        | CUSIP: 725464GC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    790000 | PA      | $787942.37    | 0.20%             | 2042-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Pittsfield MA                                                                                     | City of Pittsfield                                                                                        | CUSIP: 725464GD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    730000 | PA      | $720212.67    | 0.18%             | 2043-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Town of Provincetown MA                                                                                   | Town of Provincetown                                                                                      | CUSIP: 744074LH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    755000 | PA      | $755086.60    | 0.19%             | 2028-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                                                  | Public Finance Authority                                                                                  | CUSIP: 74446EAA4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    480000 | PA      | $384000.00    | 0.10%             | 2027-08-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Public Finance Authority                                                                                  | Public Finance Authority                                                                                  | CUSIP: 74446EAC0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    360000 | PA      | $324000.00    | 0.08%             | 2024-08-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                                               | Commonwealth of Puerto Rico                                                                               | CUSIP: 74514L3J4<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    343525 | PA      | $377398.25    | 0.09%             | 2031-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                                               | Commonwealth of Puerto Rico                                                                               | CUSIP: 74514L3K1<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    143685 | PA      | $143642.33    | 0.04%             | 2033-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                                               | Commonwealth of Puerto Rico                                                                               | CUSIP: 74514L3L9<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    282284 | PA      | $277396.62    | 0.07%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                                               | Commonwealth of Puerto Rico                                                                               | CUSIP: 74514L3M7<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    110848 | PA      | $107455.67    | 0.03%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                                               | Commonwealth of Puerto Rico                                                                               | CUSIP: 74514L3N5<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    150711 | PA      | $139346.61    | 0.03%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                                               | Commonwealth of Puerto Rico                                                                               | CUSIP: 74514L3P0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    516737 | PA      | $450826.89    | 0.11%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                                               | Commonwealth of Puerto Rico                                                                               | CUSIP: 74514L3R6<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    184909 | PA      | $133808.36    | 0.03%             | 2033-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                                               | Commonwealth of Puerto Rico                                                                               | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    553451 | PA      | $354208.40    | 0.09%             | 2043-11-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                                      | Puerto Rico Electric Power Authority                                                                      | CUSIP: 74526QKX9<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    415000 | PA      | $277012.50    | 0.07%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                                      | Puerto Rico Electric Power Authority                                                                      | CUSIP: 74526QXN7<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    220000 | PA      | $146850.00    | 0.04%             | 2023-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                                      | Puerto Rico Electric Power Authority                                                                      | CUSIP: 74526QYY2<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    300000 | PA      | $200250.00    | 0.05%             | 2027-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                                      | Puerto Rico Electric Power Authority                                                                      | CUSIP: 74526QZM7<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    315000 | PA      | $210262.50    | 0.05%             | 2021-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                                      | Puerto Rico Electric Power Authority                                                                      | CUSIP: 74526QZN5<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    510000 | PA      | $340425.00    | 0.08%             | 2022-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                                      | Puerto Rico Electric Power Authority, Series VV                                                           | CUSIP: 74526YGT6<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    385000 | PA      | $388519.40    | 0.10%             | 2029-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                                      | Puerto Rico Electric Power Authority, Series VV                                                           | CUSIP: 74526YGW9<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |     35000 | PA      | $35494.01     | 0.01%             | 2034-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority | Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority | CUSIP: 745272GF5<br>LEI: 549300YJRISCG6HQ4512 | Long             | DBT              | MUN               | PR        |     75000 | PA      | $74170.79     | 0.02%             | 2031-10-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority | Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority | CUSIP: 745272GG3<br>LEI: 549300YJRISCG6HQ4512 | Long             | DBT              | MUN               | PR        |     90000 | PA      | $85666.00     | 0.02%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority | Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority | CUSIP: 74528NAU1<br>LEI: 549300YJRISCG6HQ4512 | Long             | DBT              | MUN               | PR        |    215000 | PA      | $215485.88    | 0.05%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                                                   | Puerto Rico Sales Tax Financing Corp. Sales Tax                                                           | CUSIP: 74529JPV1<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |     73000 | PA      | $73027.08     | 0.02%             | 2040-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                                                   | Puerto Rico Sales Tax Financing Corp. Sales Tax                                                           | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    239000 | PA      | $225272.70    | 0.06%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                                                   | Puerto Rico Sales Tax Financing Corp. Sales Tax                                                           | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   3806000 | PA      | $3664246.29   | 0.91%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                                                   | Puerto Rico Sales Tax Financing Corp. Sales Tax                                                           | CUSIP: 74529JQD0<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |     22000 | PA      | $19540.31     | 0.00%             | 2029-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                                                   | Puerto Rico Sales Tax Financing Corp. Sales Tax                                                           | CUSIP: 74529JQE8<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   1059000 | PA      | $870041.25    | 0.22%             | 2031-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                                                   | Puerto Rico Sales Tax Financing Corp. Sales Tax                                                           | CUSIP: 74529JQF5<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   1011000 | PA      | $765571.86    | 0.19%             | 2033-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                                                   | Puerto Rico Sales Tax Financing Corp. Sales Tax                                                           | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    475000 | PA      | $158659.45    | 0.04%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                                                   | Puerto Rico Sales Tax Financing Corp. Sales Tax                                                           | CUSIP: 74529JRH0<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    597000 | PA      | $584094.65    | 0.15%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                                                   | Puerto Rico Sales Tax Financing Corp. Sales Tax                                                           | CUSIP: 74529JRJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    256000 | PA      | $250466.05    | 0.06%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                                                   | Puerto Rico Sales Tax Financing Corp. Sales Tax                                                           | CUSIP: 74529JRK3<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |      5000 | PA      | $4529.00      | 0.00%             | 2053-07-01      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                                                   | Puerto Rico Sales Tax Financing Corp. Sales Tax                                                           | CUSIP: 74529JRL1<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   2179000 | PA      | $2034384.78   | 0.51%             | 2058-07-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| City of Quincy MA                                                                                         | City of Quincy                                                                                            | CUSIP: 748508H27<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    620000 | PA      | $671567.82    | 0.17%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Quincy MA                                                                                         | City of Quincy                                                                                            | CUSIP: 748508H35<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $644210.82    | 0.16%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Red River Education Finance Corp.                                                                         | Red River Education Finance Corp.                                                                         | CUSIP: 756870BE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    470000 | PA      | $470527.72    | 0.12%             | 2046-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| San Antonio Housing Trust Public Facility Corp.                                                           | San Antonio Housing Trust Public Facility Corp., Series BDS 2024A                                         | CUSIP: 79626WAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $139660.58    | 0.03%             | 2043-04-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                                         | Southeast Energy Authority A Cooperative District                                                         | CUSIP: 84136FBT3<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   2065000 | PA      | $2175846.10   | 0.54%             | 2054-01-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Tennergy Corp.                                                                                            | Tennergy Corp.                                                                                            | CUSIP: 880397CF9<br>LEI: 5493008K3JJFBSC4C235 | Long             | DBT              | MUN               | US        |   1270000 | PA      | $1362227.27   | 0.34%             | 2053-10-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Tennessee Energy Acquisition Corp.                                                                        | Tennessee Energy Acquisition Corp.                                                                        | CUSIP: 880443BS4<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |    885000 | PA      | $894003.81    | 0.22%             | 2026-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Tennessee Energy Acquisition Corp.                                                                        | Tennessee Energy Acquisition Corp.                                                                        | CUSIP: 880443JF4<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |   2020000 | PA      | $2076756.14   | 0.52%             | 2053-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Town of Tisbury MA                                                                                        | Town of Tisbury                                                                                           | CUSIP: 888240GE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $3732353.50   | 0.93%             | 2052-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Toll Road Investors Partnership II LP                                                                     | Toll Road Investors Partnership II LP                                                                     | CUSIP: 88948ABM8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    659596 | PA      | $226769.20    | 0.06%             | 2043-02-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Tri-County Regional Vocational Technical School District/MA                                               | Tri-County Regional Vocational Technical School District, Series CHAPTER 70B                              | CUSIP: 895541CU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3903501.20   | 0.97%             | 2044-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Virgin Islands Hotel Development Financing Corp.                                                          | Virgin Islands Hotel Development Financing Corp., Series 2025A-1                                          | CUSIP: 92766AAN8<br>LEI: N/A                  | Long             | DBT              | MUN               | VI        |   1140000 | PA      | $1120202.99   | 0.28%             | 2055-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Town of Wakefield MA                                                                                      | Town of Wakefield, Series 2025                                                                            | CUSIP: 931065XK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3167854.50   | 0.79%             | 2050-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-30

**Name of Applicant:** MFS Municipal Series Trust

**Signature:** James Byrne

**Name of Signer:** James Byrne

**Title:** Assistant Treasurer