# EDGAR Filing Document

**Accession Number:** 0000934563
**File Stem:** 0001752724-25-209741
**Filing Date:** 2025-8
**Character Count:** 118627
**Document Hash:** 2999a2df7a0c635c601bbb82399f881b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-209741.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001752724-25-209741

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250827

**DATE AS OF CHANGE**: 20250827

**PERIOD START**: 20250630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HC CAPITAL TRUST
- **CENTRAL INDEX KEY:** 0000934563

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08918
- **FILM NUMBER:** 251266189

**BUSINESS ADDRESS:**
- **STREET 1:** 300 BARR HARBOR DRIVE, 5TH FLOOR
- **CITY:** WEST CONSHOHOCKEN
- **STATE:** PA
- **ZIP:** 19428
- **BUSINESS PHONE:** 610-828-7200

**MAIL ADDRESS:**
- **STREET 1:** 300 BARR HARBOR DRIVE, 5TH FLOOR
- **CITY:** WEST CONSHOHOCKEN
- **STATE:** PA
- **ZIP:** 19428

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HIRTLE CALLAGHAN TRUST
- **DATE OF NAME CHANGE:** 20100305

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HC CAPITAL TRUST
- **DATE OF NAME CHANGE:** 20100305

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HIRTLE CALLAGHAN TRUST
- **DATE OF NAME CHANGE:** 19941222

## Series and Classes Contracts Data

### The Intermediate Term Municipal Bond Portfolio (Series ID: S000009376)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000025691 | The Intermediate Term Municipal Bond Portfolio | HCIMX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** HC Capital Trust

- **b. Investment Company Act file number:** 811-08918

- **c. CIK number of Registrant:** 0000934563

- **d. LEI of Registrant:** 549300WBB2KZ0XDJW948

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

  - **Street Address 1:** Five Tower Bridge, 300 Barr Harbor

  - **City:** West Conshohocken

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19428

  - **Telephone number:** 610-828-7200

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

- **a. Name of Series:** The Intermediate Term Municipal Bond Portfolio

- **b. EDGAR series identifier (if any):** S000009376

- **c. LEI of Series:** 549300ZT01LGEDY4WA93

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

- **a. Date of fiscal year-end:** 2025-06-30

- **b. Date as of which information is reported:** 2025-06-30

**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:** $563139698.98

**Total Liabilities:** $13105588.19

**Net Assets:** $550034110.79

**Cash Not Reported:** $3329925.71

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -670.33722610 | **1-Year:** -19783.28802663 | **5-Year:** -87727.63361195 | **10-Year:** -166397.07122324 | **30-Year:** -31689.54302985

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000025691 | -0.47%               | 0.35%                | 0.69%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-423011.09              | $-3318617.29                               |
| Month 2  | $-175059.19              | $336832.96                                 |
| Month 3  | $126037.60               | $2501378.17                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CHICAGO ILL                                                                         | CITY OF CHICAGO IL                                 | CUSIP: 167486M55<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2335000 | PA      | $2133863.10   | 0.39%             | 2036-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TEX                                                                     | CITY OF SAN ANTONIO TX                             | CUSIP: 79623PSS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    940000 | PA      | $974347.60    | 0.18%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                                         | ILLINOIS ST                                        | CUSIP: 452153GC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1039610.00   | 0.19%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS REV                                | NEW YORK CITY MUNICIPAL WATER FINANCE AUTHORITY    | CUSIP: 64972GD84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1125600.00   | 0.20%             | 2034-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY OHIO HOSP REV                                                       | COUNTY OF MONTGOMERY OH                            | CUSIP: 613520NS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $863440.00    | 0.16%             | 2033-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MUNICIPAL ELEC AUTH GA                                                              | MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA            | CUSIP: 62620HKJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1661640.00   | 0.30%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH ARPT SYS REV                                       | METROPOLITAN WASHINGTON AIRPORTS AUTHORITY AVIATIO | CUSIP: 592647LA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2133120.00   | 0.39%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PIEDMONT MUN PWR AGY S C ELEC REV                                                   | PIEDMONT MUNICIPAL POWER AGENCY                    | CUSIP: 720175ZD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1068010.00   | 0.19%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUTLER CNTY OHIO HOSP FACS REV                                                      | BUTLER CNTY OH HOSP FACS                           | CUSIP: 123550GV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1081890.00   | 0.20%             | 2029-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BNY Mellon Strategic Municipals Inc                                                 | BNY MELLON STRATEGIC MUNICIPALS INC                | CUSIP: 05588W108<br>LEI: 549300FH0LKMOBY7N332 | Long             |  | RF                | US        |    270829 | NS      | $1603307.68   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| GREAT LAKES WTR AUTH MICH SEW DISP SYS REV                                          | GREAT LAKES MI WTR AUTH SEWAGE DISPOSAL SYS        | CUSIP: 39081HEQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1361787.50   | 0.25%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA ST MUN PWR AUTH PWR SUPPLY SYS REV                                         | OKLAHOMA MUNICIPAL POWER AUTHORITY                 | CUSIP: 67910HQZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $555100.80    | 0.10%             | 2032-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN AUTH HEALTH SYS REV                                                     | INDIANA UNIVERSITY HEALTH                          | CUSIP: 45470YEX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2250000.00   | 0.41%             | 2058-12-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| PORTLAND ORE CMNTY COLLEGE DIST                                                     | PORTLAND OR CMNTY CLG DIST                         | CUSIP: 736688MZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2221680.00   | 0.40%             | 2035-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSN DEV CORP SPL FAC REV                                                | NEW YORK TRANSPORTATION DEVELOPMENT CORP           | CUSIP: 650116FB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1795000 | PA      | $1866028.15   | 0.34%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT AUTH IOWA TOB SETTLEMENT REV                                     | TOBACCO SETTLEMENT AUTH IA TABACCO SETTLEMENT REVE | CUSIP: 888805BW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $487431.00    | 0.09%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH REV                                                               | MICHIGAN ST FIN AUTH REVENUE                       | CUSIP: 59447TC76<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1198956.00   | 0.22%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SEATTLE WASH                                                                        | CITY OF SEATTLE WA                                 | CUSIP: 812627PS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    955000 | PA      | $1038247.35   | 0.19%             | 2038-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE-MECKLENBERG HOSP AUTH N C HEALTH CARE SYS REV                             | CHARLOTTE MECKLENBURG HOSPITAL AUTHORITY THE       | CUSIP: 160853VE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1061520.00   | 0.19%             | 2050-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                                                            | MINNESOTA HOUSING FINANCE AGENCY                   | CUSIP: 60416TUD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2195000 | PA      | $2400934.90   | 0.44%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BlackRock MuniHoldings Fund Inc                                                     | BLACKROCK MUNIHOLDINGS FUND                        | CUSIP: 09253N104<br>LEI: MZBVMGS24JR92TGE6Z32 | Long             |  | RF                | US        |    243097 | NS      | $2722686.40   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| PENNSYLVANIA ST                                                                     | PENNSYLVANIA ST                                    | CUSIP: 70914PN40<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3515330.00   | 0.64%             | 2035-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JEA FLA ELEC SYS REV                                                                | JEA ELECTRIC SYSTEM REVENUE                        | CUSIP: 46613SQH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2030000 | PA      | $2160711.70   | 0.39%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH REV                                                               | MICHIGAN FINANCE AUTHORITY                         | CUSIP: 59447T4A8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6110460.00   | 1.11%             | 2044-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHESTERFIELD CNTY VA ECONOMIC DEV AUTH REV                                          | CHESTERFIELD CNTY VA ECON DEV AUTH REVENUE         | CUSIP: 16639EBP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    760000 | PA      | $832640.80    | 0.15%             | 2038-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TEX HIGHER ED FIN CORP ED REV                                             | ARLINGTON TX HGR EDU FIN CORP EDU REVENUE          | CUSIP: 041806WN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1230000 | PA      | $1305214.50   | 0.24%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT PORTLAND ORE ARPT REV                                                          | PORT OF PORTLAND OR ARPT REVENUE                   | CUSIP: 7352402Z5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2622575.00   | 0.48%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FOREST HILLS MICH PUB SCHS                                                          | FOREST HILLS PUBLIC SCHOOLS MI                     | CUSIP: 345748F28<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1037220.00   | 0.19%             | 2044-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BlackRock Liquidity Funds: MuniCash; Institutional Shares                           | BLACKROCK LIQUIDITY FUNDS MUNICASH                 | CUSIP: 09248U841<br>LEI: N/A                  | Long             | STIV             | RF                | US        |  18652288 | NS      | $18654136.44  | 3.39%             |  |  |  | No            |                  1 | On Loan: No      |
| METROPOLITAN GOVT NASHVILLE & DAVIDSON CNTY TENN                                    | METROPOLITAN GOVERNMENT OF NASHVILLE DAVIDSON CO   | CUSIP: 592112TK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1371451.50   | 0.25%             | 2033-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE IS ST STUDENT LN AUTH ED LN REV                                               | RHODE ISLAND ST STUDENT LOAN AUTH LOAN REVENUE     | CUSIP: 762323BC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $672443.75    | 0.12%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST                                                                       | STATE OF WASHINGTON                                | CUSIP: 93974DXE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7065000 | PA      | $7195066.65   | 1.31%             | 2032-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA WTR & WASTEWTR REV                                                  | CITY OF PHILADELPHIA PA W                          | CUSIP: 717893N31<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1049480.00   | 0.19%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTH N Y & N J                                                                 | PORT AUTHORITY OF NEW YORK NEW JERSEY              | CUSIP: 73358WS21<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4970000 | PA      | $5094796.70   | 0.93%             | 2030-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DALLAS TEX AREA RAPID TRAN SALES TAX REV                                            | DALLAS AREA RAPID TRANSIT                          | CUSIP: 235241TG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4730000 | PA      | $5065688.10   | 0.92%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New York                                                                    | NEW YORK NY                                        | CUSIP: 64966QQP8<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   2890000 | PA      | $3154752.90   | 0.57%             | 2032-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OMAHA NEB SAN SEW REV                                                               | OMAHA NE SANTN SWR REVENUE                         | CUSIP: 681810MT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1025410.00   | 0.19%             | 2032-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TARRANT CNTY TEX CULTURAL ED FACS FIN CORP REV                                      | TARRANT COUNTY CULTURAL EDUCATION FACILITIES FINAN | CUSIP: 87638TJD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1545000 | PA      | $1623825.90   | 0.30%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA                                                                     | CITY OF PHILADELPHIA PA                            | CUSIP: 717813XE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2600000 | PA      | $2835352.00   | 0.52%             | 2030-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLIFTON TEX HIGHER ED FIN CORP ED REV                                               | CLIFTON HIGHER EDUCATION FINANCE CORP              | CUSIP: 187145PW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    950000 | PA      | $962616.00    | 0.18%             | 2034-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PIMCO MUNICIPAL INCOME FUND III                                                     | PIMCO MUNICIPAL INCOME FUND III                    | CUSIP: 72201A103<br>LEI: SJUC6WH3GDYFFYIHMV67 | Long             |  | RF                | US        |    240845 | NS      | $1652196.70   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO ILL CTFS PARTN TAX INCREMENT ALLOCATION REV                                 | CHICAGO ILLINOIS INCREMENT ALLOCATION REVENUE      | CUSIP: 16752QAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     49477 | PA      | $35103.59     | 0.01%             | 2026-02-15      | Fixed         | 7.46%                 | No            |                  2 | On Loan: No      |
| MINNESOTA AGRIC & ECONOMIC DEV BRD REV                                              | MINNESOTA AGRICULTURAL ECONOMIC DEVELOPMENT BOAR   | CUSIP: 6049202T4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1911297.50   | 0.35%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| POLK CNTY FLA UTIL SYS REV                                                          | POLY CNTY FL UTILITY SYS REVENUE                   | CUSIP: 731167FX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    955000 | PA      | $1000639.45   | 0.18%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST EDL FACS AUTH REV                                                     | NEW JERSEY EDUCATIONAL FACILITIES AUTHORITY        | CUSIP: 646067KE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2155000 | PA      | $2384356.65   | 0.43%             | 2064-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST                                                                     | COMMONWEALTH OF PENNSYLVANIA                       | CUSIP: 70914P4C3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    835000 | PA      | $906701.45    | 0.16%             | 2038-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOVE FIELD ARPT MODERNIZATION CORP TEX SPL FACS REV                                 | LOVE FIELD TX ARPT MODERNIZATION CORP              | CUSIP: 54714FAG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $850068.00    | 0.15%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL O HARE INTL ARPT REV                                                    | CHICAGO O HARE INTERNATIONAL AIRPORT               | CUSIP: 167593Z88<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $484593.20    | 0.09%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET GOVT NASHVILLE & DAVIDSON CNTY TENN H & E FACS BRD REV                          | METROPOLITAN GOVERNMENT NASHVILLE DAVIDSON COUNT   | CUSIP: 592041A23<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $536455.00    | 0.10%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE IS ST STUDENT LN AUTH ED LN REV                                               | RHODE ISLAND STUDENT LOAN AUTHORITY                | CUSIP: 762323BY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1875000 | PA      | $1998843.75   | 0.36%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HIGHER ED ASSISTANCE AGY ED LN REV                                     | PENNSYLVANIA HIGHER EDUCATION ASSISTANCE AGENCY    | CUSIP: 70878CBF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1024020.00   | 0.19%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GEORGIA ST                                                                          | STATE OF GEORGIA                                   | CUSIP: 373385GX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $894840.00    | 0.16%             | 2036-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| TEMPLE UNIV OF THE COMWLTH SYS OF HIGHER ED PA UNIV REV                             | TEMPLE UNIVERSITY OF THE COMMONWEALTH SYSTEM OF HI | CUSIP: 880178CY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1130000 | PA      | $1206116.80   | 0.22%             | 2040-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH REV                                                               | ILLINOIS FINANCE AUTHORITY                         | CUSIP: 45204FD28<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $520120.00    | 0.09%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY REV                                                    | MASSACHUSETTS DEVELOPMENT FINANCE AGENCY           | CUSIP: 57585BMR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $440406.25    | 0.08%             | 2043-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN AUTH HEALTH SYS REV                                                     | INDIANA FINANCE AUTHORITY                          | CUSIP: 45470YFN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3655000 | PA      | $3978102.00   | 0.72%             | 2055-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TEX HIGHER ED FIN CORP ED REV                                             | ARLINGTON TX HGR EDU FIN CORP EDU REVENUE          | CUSIP: 041806WM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1025000 | PA      | $1069433.75   | 0.19%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA WTR & WASTEWTR REV                                                  | PHILADELPHIA PA WTR WSTWTR REVENUE                 | CUSIP: 7178932G5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1084890.00   | 0.20%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSN AUTH N Y REV                                                    | METROPOLITAN TRANSPORTATION AUTHORITY              | CUSIP: 59261A4V6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6915000 | PA      | $7407624.60   | 1.35%             | 2038-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZATION CORP ILL                                                   | SALES TAX SECURITIZATION CORP IL                   | CUSIP: 79467BCU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3170340.00   | 0.58%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TEX CULTURAL ED FACS FIN CORP REV                                       | HARRIS CNTY TX CULTURAL EDU FACS                   | CUSIP: 414009JT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1506660.00   | 0.27%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST WTR DEV AUTH REV                                                            | OHIO WATER DEVELOPMENT AUTHORITY                   | CUSIP: 67765QNG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1917037.50   | 0.35%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS POLLUTION CTL REV                                               | PUBLIC FINANCE AUTHORITY                           | CUSIP: 74447HAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3455000 | PA      | $3464363.05   | 0.63%             | 2046-10-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| GRAND RIVER DAM AUTH OKLA REV                                                       | GRAND RIVER DAM AUTHORITY                          | CUSIP: 386442ZU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1925000 | PA      | $2109395.75   | 0.38%             | 2037-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN GOVT NASHVILLE & DAVIDSON CNTY TENN HEALTH & EDL FACS BRD EDL FACS REV | MET GOVT NASHVILLE DAVIDSON CNTY                   | CUSIP: 592029BX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1235000 | PA      | $1331922.80   | 0.24%             | 2031-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER COLO RIV AUTH TEX TRANSMISSION CONTRACT REV                                   | LOWER COLORADO RIVER AUTHORITY                     | CUSIP: 54811BF55<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1090000 | PA      | $1176175.40   | 0.21%             | 2029-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECONOMIC DEV FING AUTH UPMC REV                                        | PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING        | CUSIP: 70870JHN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1044500.00   | 0.19%             | 2038-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS EDL FING AUTH ED LN REV                                               | MASSACHUSETTS ST EDUCTNL FING AUTH                 | CUSIP: 57563RRM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1464442.00   | 0.27%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER COLO RIV AUTH TEX REV                                                         | LOWER COLORADO RIVER AUTHORITY                     | CUSIP: 54811GH37<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2180000 | PA      | $2351980.20   | 0.43%             | 2032-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY ALA SWR REV                                                          | COUNTY OF JEFFERSON AL SEWER REVENUE               | CUSIP: 472682ZF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1805000 | PA      | $1926873.60   | 0.35%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PIMCO CALIFORNIA MUNICIPAL INCOME FUND II                                           | PIMCO CALIFORNIA MUNICIPAL INCOME FUND II          | CUSIP: 72200M108<br>LEI: 1R86W760D611I8RHLX24 | Long             |  | RF                | US        |    315690 | NS      | $1692098.40   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV                                      | KENTUCKY PUBLIC ENERGY AUTHORITY                   | CUSIP: 74440DEC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3115000 | PA      | $3332551.60   | 0.61%             | 2054-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HAMPTON RDS TRANSN ACCOUNTABILITY COMMN VA HAMPTON RDS TRANSN FD REV                | HAMPTON ROADS TRANSPORTATION ACCOUNTABILITY COMMIS | CUSIP: 409328AE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $934184.00    | 0.17%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                                 | STATE OF CALIFORNIA                                | CUSIP: 13063DS33<br>LEI: N/A                  | Long             | DBT              |  | US        |   2000000 | PA      | $2240260.00   | 0.41%             | 2033-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Western Asset Managed Municipals Fund Inc                                           | WESTERN ASSET MANAGED MUNICIPALS FUND INC          | CUSIP: 95766M105<br>LEI: 549300HVO8EY2T8K4F73 | Long             |  | RF                | US        |    397985 | NS      | $3940051.50   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS REV                                | NEW YORK CITY MUNICIPAL WATER FINANCE AUTHORITY    | CUSIP: 64972GM50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    865000 | PA      | $962641.20    | 0.18%             | 2031-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WAKE CNTY N C                                                                       | COUNTY OF WAKE NC                                  | CUSIP: 930864EK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1211397.00   | 0.22%             | 2030-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST                                                                       | STATE OF NEW JERSEY                                | CUSIP: 646039YQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1167298.00   | 0.21%             | 2031-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTHERN UTE INDIAN TRIBE OF SOUTHN UTE INDIAN RESERVATION COLO                     | SOUTHERN UTE INDIAN TRIBE OF THE SOUTHERN UTE RESE | CUSIP: 844090AD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2340000 | PA      | $2474339.40   | 0.45%             | 2035-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MFS High Yield Municipal Trust                                                      | MFS HIGH YIELD MUNICIPAL TRUST                     | CUSIP: 59318E102<br>LEI: A8WLLLHJKX1MW5QPZU93 | Long             |  | RF                | US        |    463249 | NS      | $1542619.17   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| UNIVERSITY WIS HOSPS & CLINICS AUTH REV                                             | UNIVERSITY OF WISCONSIN HOSPITALS CLINICS          | CUSIP: 915260FU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1087710.00   | 0.20%             | 2054-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST TOLL HWY AUTH TOLL HIGHWAY REV                                          | ILLINOIS STATE TOLL HIGHWAY AUTHORITY              | CUSIP: 452252NF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $910086.50    | 0.17%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY WIS HOSPS & CLINICS AUTH REV                                             | UNIVESITY OF WISCONSIN HOSPITAL                    | CUSIP: 915260CT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1225000 | PA      | $1238952.75   | 0.23%             | 2026-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH FING AUTH PA TOB MASTER SETTLEMENT PMT REV                             | COMMONWEALTH FINANCING AUTHORITY                   | CUSIP: 20282EAN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1037310.00   | 0.19%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DETROIT MICH DOWNTOWN DEV AUTH TAX INCREMENT REV                                    | DETROIT DOWNTOWN DEVELOPMENT AUTHORITY             | CUSIP: 251135HN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1054690.00   | 0.19%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA                                                                     | CITY OF PHILADELPHIA PA                            | CUSIP: 717813XF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1735000 | PA      | $1859867.95   | 0.34%             | 2031-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT SEATTLE WASH REV                                                               | PORT OF SEATTLE WA                                 | CUSIP: 735389G44<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1514280.00   | 0.28%             | 2026-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST CTFS PARTN                                                             | STATE OF MINNESOTA                                 | CUSIP: 604140XM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1345000 | PA      | $1525646.95   | 0.28%             | 2033-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST                                                                        | STATE OF MINNESOTA                                 | CUSIP: 60412AD83<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3340050.00   | 0.61%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST SALES TAX REV                                                           | STATE OF ILLINOIS SALES TAX REVENUE                | CUSIP: 452227VP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5945000 | PA      | $6050345.40   | 1.10%             | 2043-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOWARD CNTY MD                                                                      | COUNTY OF HOWARD MD                                | CUSIP: 44256PP98<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1190000 | PA      | $1329349.00   | 0.24%             | 2034-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST                                                                       | STATE OF WASHINGTON                                | CUSIP: 93974ELL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1431378.00   | 0.26%             | 2033-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FLA WTR & SWR REV                                                   | MIAMI DADE CNTY FL WTR SWR REVENUE                 | CUSIP: 59334DPE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2834575.00   | 0.52%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLACKAMAS ORE CMNTY COLLEGE DIST                                                    | CLACKAMAS COMMUNITY COLLEGE DISTRICT               | CUSIP: 179390QH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1295512.50   | 0.24%             | 2044-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH REV                                                    | NEW JERSEY ST ECON DEV AUTH REV                    | CUSIP: 64577XEQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1055850.00   | 0.19%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REGIONAL SCH UNIT NO 14 ME                                                          | REGIONAL SCHOOL UNIT NO 14                         | CUSIP: 75915PAU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1052400.00   | 0.19%             | 2042-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIDLAND TEX INDPT SCH DIST                                                          | MIDLAND INDEPENDENT SCHOOL DISTRICT                | CUSIP: 5977832X6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2410000 | PA      | $2615500.70   | 0.48%             | 2037-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST URBAN DEV CORP ST SALES TAX REV                                         | NEW YORK STATE URBAN DEVELOPMENT CORP              | CUSIP: 64985TEB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1165000 | PA      | $1304869.90   | 0.24%             | 2035-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE TRANSN AUTH TRANSN SYS REV                                                 | DELAWARE ST TRANSPRTN AUTH TRANSPRTN               | CUSIP: 246428K54<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    620000 | PA      | $678745.00    | 0.12%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS MUN GAS ACQUISITION & SUPPLY CORP IV GAS SUPPLY REV                           | TEXAS MUNICIPAL GAS ACQUISITION SUPPLY CORP IV     | CUSIP: 88256PAT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3850280.00   | 0.70%             | 2054-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST                                                                      | STATE OF CONNECTICUT                               | CUSIP: 20772KPK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1044550.00   | 0.19%             | 2029-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SEATTLE WASH MUN LT & PWR REV                                                       | SEATTLE WA MUNI LIGHT PWR REVENUE                  | CUSIP: 812643C93<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    790000 | PA      | $885645.30    | 0.16%             | 2032-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ONTARIO CALIF PUB FING AUTH LEASE REV                                               | ONTARIO PUBLIC FINANCING AUTHORITY                 | CUSIP: 68304REE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1025000 | PA      | $1074435.75   | 0.20%             | 2042-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY ILL BRD TRUSTEES CTFS PARTN                                              | UNIV OF ILLINOIS IL BRD OF TRUSTEES COPS           | CUSIP: 914325EF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2995000 | PA      | $3056277.70   | 0.56%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST WTR DEV AUTH WTR POLLUTN CTL REV                                            | OHIO ST WTR DEV AUTH WTR POLL CONTROL REVENUE      | CUSIP: 67766WP63<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3050000 | PA      | $3419843.00   | 0.62%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX ARIZ CIVIC IMPT CORP EXCISE TAX REV                                         | PHOENIX AZ CIVIC IMPT CORP EXCISE TAX REVENUE      | CUSIP: 71884AD48<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1685000 | PA      | $1840070.55   | 0.33%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TEX CULTURAL ED FACS FIN CORP MED FACS REV                              | BAYLOR COLLEGE OF MEDICINE                         | CUSIP: 414008CA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2179338.00   | 0.40%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN GOVT NASHVILLE & DAVIDSON CNTY TENN                                    | METROPOLITAN GOVERNMENT OF NASHVILLE DAVIDSON CO   | CUSIP: 592112XK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    730000 | PA      | $816738.60    | 0.15%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Nyli Mackay Definedterm Muni Opportunities Fund                                     | NYLI MACKAY DEFINEDTERM MUNI OPPORTUNITIES FUND    | CUSIP: 56064K100<br>LEI: 549300AOV8XDBTKPOR64 | Long             |  | RF                | US        |     87267 | NS      | $1290678.93   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| PALM BEACH CNTY FLA SCH BRD CTFS PARTN                                              | PALM BEACH CTNY FL SCH BRD                         | CUSIP: 696550L26<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1025000 | PA      | $1124691.50   | 0.20%             | 2036-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST TRANSN AUTH PASSENGER FAC CHARGE REV                                    | MARYLAND STATE TRANSPORTA                          | CUSIP: 57429NCR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2090000 | PA      | $2180622.40   | 0.40%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ST JOSEPH MO SCH DIST                                                               | SAINT JOSEPH MO SCH DIST                           | CUSIP: 790790FK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    995000 | PA      | $1029427.00   | 0.19%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VERMONT ST STUDENT ASSISTANCE CORP ED LN REV                                        | VERMONT STUDENT ASSISTANCE CORP                    | CUSIP: 92428CNU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1244760.00   | 0.23%             | 2033-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST                                                                        | STATE OF MINNESOTA                                 | CUSIP: 60412AJ46<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1398222.00   | 0.25%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA INDL DEV AUTH RETIREMENT CMNTY REV                               | MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY | CUSIP: 61360PCY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4087160.00   | 0.74%             | 2042-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT SEATTLE WASH REV                                                               | PORT OF SEATTLE WA                                 | CUSIP: 7353892H0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3665000 | PA      | $3863752.95   | 0.70%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS BAY TRANSN AUTH MASS SALES TAX REV                                    | MASSACHUSETTS BAY TRANSPORTATION AUTHORITY SALES T | CUSIP: 575579L21<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1518930.00   | 0.28%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALA GAS SUPPLY REV                                       | BLACK BELT ENERGY GAS DIST AL GAS SPLY REVENUE     | CUSIP: 09182NBR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2895000 | PA      | $2892799.80   | 0.53%             | 2051-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CANYONS MET DIST NO 5 COLO                                                          | CANYONS METROPOLITAN DISTRICT NO 5                 | CUSIP: 139071AN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $550160.00    | 0.10%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ONTARIO CALIF PUB FING AUTH LEASE REV                                               | ONTARIO PUBLIC FINANCING AUTHORITY                 | CUSIP: 68304REB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1077850.00   | 0.20%             | 2039-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TARRANT CNTY TEX CULTURAL ED FACS FIN CORP REV                                      | TARRANT COUNTY CULTURAL EDUCATION FACILITIES FINAN | CUSIP: 87638THF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1280000 | PA      | $1386124.80   | 0.25%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLUMBUS OHIO SWR REV                                                               | CITY OF COLUMBUS OH SEWERAGE REVENUE               | CUSIP: 199561GN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1471054.00   | 0.27%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| iShares National Muni Bond ETF                                                      | ISHARES NATIONAL MUNI BOND ETF                     | CUSIP: 464288414<br>LEI: N/A                  | Long             |  | RF                | US        |    125390 | NS      | $13100747.20  | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| UNIVERSITY CINCINNATI OHIO GEN RCPTS                                                | UNIVERSITY OF CINCINNATI OH RECPTS                 | CUSIP: 914119W57<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    775000 | PA      | $789221.25    | 0.14%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ENERGY SOUTHEAST ALA COOP DIST ENERGY SUPPLY REV                                    | ENERGY SOUTHEAST A COOPERATIVE DISTRICT            | CUSIP: 292723AY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1094190.00   | 0.20%             | 2054-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST DEPT TRANSN CONS TRANSN                                                 | MARYLAND ST DEPT OF TRANSPRTN CONSOL TRANSPRTN     | CUSIP: 574204N82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1008980.00   | 0.18%             | 2032-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY KY LEASE PUR OBLIGS                                                      | UNIVERSITY OF KENTUCKY                             | CUSIP: 914383BK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1170000 | PA      | $1203766.20   | 0.22%             | 2043-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH REV                                                               | TRINITY HEALTH CORP OBLIGATION                     | CUSIP: 59447P7P0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1004250.00   | 0.18%             | 2029-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NEV SCH DIST                                                             | CLARK COUNTY SCHOOL DISTRICT                       | CUSIP: 181059N69<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2915000 | PA      | $3153242.95   | 0.57%             | 2032-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST                                                                      | CONNECTICUT ST                                     | CUSIP: 20772KDY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    465000 | PA      | $493202.25    | 0.09%             | 2032-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MADISON WIS MET SCH DIST                                                            | MADISON WI MET SCH DIST                            | CUSIP: 558495PU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    580000 | PA      | $621000.20    | 0.11%             | 2034-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL O HARE INTL ARPT REV                                                    | CHICAGO O HARE INTERNATIONAL AIRPORT               | CUSIP: 167593Z96<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $422416.00    | 0.08%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                                 | STATE OF CALIFORNIA                                | CUSIP: 13063DQ84<br>LEI: N/A                  | Long             | DBT              |  | US        |   1000000 | PA      | $1057630.00   | 0.19%             | 2035-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Blackrock Muniyield Quality Fund III Inc                                            | BLACKROCK MUNIYIELD QUALITY FUND III INC           | CUSIP: 09254E103<br>LEI: UB5J2GS6Q51M6A2L8886 | Long             |  | RF                | US        |    348844 | NS      | $3659373.56   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| LOS ANGELES CALIF DEPT WTR & PWR REV                                                | LOS ANGELES DEPARTMENT OF WATER POWER              | CUSIP: 544532NS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1900000 | PA      | $2057206.00   | 0.37%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                                                            | MINNESOTA HOUSING FINANCE AGENCY                   | CUSIP: 60416TUB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1985000 | PA      | $2125418.90   | 0.39%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAHONING CNTY OHIO HOSP FACS REV                                                    | MAHONING COUNTY HOSPITAL                           | CUSIP: 560060ET8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $126050.00    | 0.02%             | 2025-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NORTH LAS VEGAS NEV                                                                 | CITY OF NORTH LAS VEGAS NV                         | CUSIP: 660393X79<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $839557.50    | 0.15%             | 2033-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACKROCK MUNIHOLDINGS CALIFORNIA QUALITY FUND, INC.                                | BLACKROCK MUNIHOLDINGS CALIFORNIA QUALITY FUND INC | CUSIP: 09254L107<br>LEI: NKJSRCJXMS5PZYPXY795 | Long             |  | RF                | US        |    371024 | NS      | $3840098.40   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| PHILADELPHIA PA                                                                     | PHILADELPHIA PA                                    | CUSIP: 717813A82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2159720.00   | 0.39%             | 2038-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISVILLE & JEFFERSON CNTY KY METRO GOVT                                           | LOUISVILLE JEFFERSON COUNTY METROPOLITAN GOVERNMEN | CUSIP: 546585WB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1267070.00   | 0.23%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KANSAS ST DEPT TRANSN HWY REV                                                       | STATE OF KANSAS DEPARTMENT OF TRANSPORTATION       | CUSIP: 485424SY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    920000 | PA      | $1036941.20   | 0.19%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALACHUA CNTY FLA HEALTH FACS AUTH HEALTH FACS REV                                   | ALACHUA CNTY FL HLTH FACS AUTH                     | CUSIP: 010685LD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2031100.00   | 0.37%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                                                            | MINNESOTA HOUSING FINANCE AGENCY                   | CUSIP: 60416TUC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1240000 | PA      | $1343242.40   | 0.24%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL TRAN AUTH SALES TAX RCPTS REV                                           | CHICAGO TRANSIT AUTH SALES TAX RECEIPTS REVENUE    | CUSIP: 16772PEE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1465000 | PA      | $1593832.10   | 0.29%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL O HARE INTL ARPT REV                                                    | CHICAGO O HARE INTERNATIONAL AIRPORT               | CUSIP: 167593F64<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4335000 | PA      | $4298499.30   | 0.78%             | 2042-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TROY UNIV ALA FACS REV                                                              | TROY UNIVERSITY                                    | CUSIP: 897745CM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1026850.00   | 0.19%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                                     | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH            | CUSIP: 64613CDY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1910930.00   | 0.35%             | 2036-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAINE FIN AUTH STUDENT LN REV                                                       | FINANCE AUTHORITY OF MAINE                         | CUSIP: 56042TBP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1025000 | PA      | $1046053.50   | 0.19%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES WTR AUTH MICH WTR SUPPLY SYS REV                                        | GREAT LAKES MI WTR AUTH WTR SPLY SYS REVENUE       | CUSIP: 39081JHV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2781250.00   | 0.51%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET GOVT NASHVILLE & DAVIDSON CNTY TENN H & E FACS BRD REV                          | METROPOLITAN GOVERNMENT NASHVILLE DAVIDSON COUNT   | CUSIP: 592041A31<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1094100.00   | 0.20%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PIONEER MUNICIPAL HIGH INCOME ADVANTAGE FUND, INC.                                  | PIONEER MUNICIPAL HIGH INCOME ADVANTAGE FUND INC   | CUSIP: 723762100<br>LEI: 549300XEJODK1I7Q2U66 | Long             |  | RF                | US        |    441784 | NS      | $3666807.20   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| LOWER COLO RIV AUTH TEX TRANSMISSION CONTRACT REV                                   | LOWER COLORADO RIVER AUTHORITY                     | CUSIP: 54811BG21<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1107690.00   | 0.20%             | 2034-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH REV                                                               | ILLINOIS ST FIN AUTH REVENUE                       | CUSIP: 45204FWF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1390000 | PA      | $1555020.80   | 0.28%             | 2034-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NOVI MICH CMNTY SCH DIST                                                            | NOVI COMMUNITY SCHOOL DISTRICT                     | CUSIP: 670029XH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    790000 | PA      | $802979.70    | 0.15%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH REV                                                               | MICHIGAN ST FIN AUTH REVENUE                       | CUSIP: 59447TVA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $874610.00    | 0.16%             | 2044-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HEALTH & EDL FACS AUTH REV                                           | CONNECTICUT STATE HEALTH AND EDUCATION             | CUSIP: 20774Y6T9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1114804.95   | 0.20%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST                                                                    | MASSACHUSETTS ST                                   | CUSIP: 57582R2S4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    780000 | PA      | $860753.40    | 0.16%             | 2035-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL O HARE INTL ARPT REV                                                    | CHICAGO IL O HARE INTERNATIONAL ARPT REVENUE       | CUSIP: 1675937U0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1025000 | PA      | $1122108.50   | 0.20%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH ST PERS INCOME TAX REV                                        | NEW YORK STATE DORMITORY AUTHORITY                 | CUSIP: 64990F2Z6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1028850.00   | 0.19%             | 2031-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BIRMINGHAM ALA SPL CARE FACS FING AUTH HEALTH CARE FAC REV                          | BIRMINGHAM AL SPL CARE FACS FING AUTH HLTH CARE FA | CUSIP: 090929GH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1415000 | PA      | $1417674.35   | 0.26%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST HOSP REV                                                                    | STATE OF OHIO                                      | CUSIP: 67756CFW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1967340.00   | 0.36%             | 2052-01-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FLA AVIATION REV                                                    | COUNTY OF MIAMI DADE FL AVIATION REVENUE           | CUSIP: 59333P7L6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3249180.00   | 0.59%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Eaton Vance California Municipal Bond Fund                                          | EATON VANCE CALIFORNIA MUNICIPAL BOND FUND         | CUSIP: 27828A100<br>LEI: 549300FJGD8HWP11TO17 | Long             |  | RF                | US        |    138683 | NS      | $1237052.36   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                                     | NEW JERSEY TRANSPORTATION TRUST FUND AUTHORITY     | CUSIP: 64613CDK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $821415.00    | 0.15%             | 2036-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TWY AUTH ST PERS INCOME TAX REV                                         | NEW YORK STATE THRUWAY AUTHORITY                   | CUSIP: 650028YM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4710000 | PA      | $5197626.30   | 0.94%             | 2035-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS TRANSN COMMN CENT TEX TPK SYS REV                                             | TEXAS ST TRANSPRTN COMMISSION CENTRAL TX           | CUSIP: 88283KCC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2687825.00   | 0.49%             | 2037-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECONOMIC DEV FING AUTH PRIVATE ACTIVITY REV                            | PENNSYLVANIA ST ECON DEV FING AUTH T E PRIVATE     | CUSIP: 70868YAJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3625000 | PA      | $3949401.25   | 0.72%             | 2033-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST PORT AUTH REV                                                      | MASSACHUSETTS PORT AUTHORITY                       | CUSIP: 575896YQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1638240.00   | 0.30%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT RIV PROJ AGRIC IMPT & PWR DIST ARIZ ELEC SYS REV                               | SALT RIVER PROJECT AGRICULTURAL IMPROVEMENT POWE   | CUSIP: 79574CGM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    785000 | PA      | $858915.60    | 0.16%             | 2039-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TPK COMMN TPK REV                                                   | PENNSYLVANIA TURNPIKE COMMISSION                   | CUSIP: 709225HD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1138995.00   | 0.21%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUCKEYE OHIO TOB SETTLEMENT FING AUTH                                               | BUCKEYE OH TOBACCO SETTLEMENT FING AUTH            | CUSIP: 118217CN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3117660.00   | 0.57%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH ARPT SYS REV                                       | MET WASHINGTON DC ARPTS AUTH ARPT SYS REVENUE      | CUSIP: 592647HR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2075000 | PA      | $2007396.50   | 0.36%             | 2036-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EL PASO CNTY TEX HOSP DIST                                                          | EL PASO CNTY TX HOSP DIST                          | CUSIP: 283590JQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1770958.00   | 0.32%             | 2039-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KITSAP CNTY WASH SCH DIST NO 100-C BREMERTON                                        | KITSAP COUNTY SCHOOL DISTRICT NO 100 C BREMERTON   | CUSIP: 498044HP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1702055.00   | 0.31%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TEX ELEC & GAS REV                                                      | CITY OF SAN ANTONIO TX ELECTRIC GAS SYSTEMS REVE   | CUSIP: 79625GEC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1362452.00   | 0.25%             | 2033-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BLACKROCK MUNIYIELD FUND, INC.                                                      | BLACKROCK MUNIYIELD FUND INC                       | CUSIP: 09253W104<br>LEI: AVXF9RZVI4EDWXACOH81 | Long             |  | RF                | US        |    413320 | NS      | $4149732.80   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH REV                                                    | NEW JERSEY ST ECON DEV AUTH REV                    | CUSIP: 64577XAT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    430000 | PA      | $465105.20    | 0.08%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Eaton Vance New York Municipal Bond Fund                                            | EATON VANCE NEW YORK MUNICIPAL BOND FUND           | CUSIP: 27827Y109<br>LEI: 5493003LD9U89XVQ7W91 | Long             |  | RF                | US        |    119172 | NS      | $1107107.88   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| WARREN CNTY OHIO HEALTH CARE FACS REV                                               | COUNTY OF WARREN OH                                | CUSIP: 93515PEC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1130000 | PA      | $1197088.10   | 0.22%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL MIDWAY ARPT REV                                                         | CHICAGO MIDWAY INTERNATIONAL AIRPORT               | CUSIP: 167562TM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4009320.00   | 0.73%             | 2041-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL FLA EXPWY AUTH SR LIENREV                                                   | CENTRAL FL EXPRESSWAY AUTH SR LIEN REVENUE         | CUSIP: 153476GP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1660650.00   | 0.30%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS VY NEV WTR DIST                                                           | LAS VEGAS VALLEY WATER DISTRICT                    | CUSIP: 517845PN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5435000 | PA      | $5611311.40   | 1.02%             | 2034-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY INST TECHNOLOGY                                                          | NEW JERSEY INSTITUTE OF TECHNOLOGY                 | CUSIP: 64579REA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2068420.00   | 0.38%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF DEPT WTR & PWR REV                                                | LOS ANGELES CA DEPT OF WTR PWR REVENUE             | CUSIP: 544532PM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1047600.00   | 0.19%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST MID-BAY BRIDGE AUTH REV                                                  | FLORIDA ST MID BAY BRIDGE                          | CUSIP: 342814EN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2173560.00   | 0.40%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EATON VANCE MUNICIPAL BOND FUND                                                     | EATON VANCE MUNICIPAL BOND FUND                    | CUSIP: 27827X101<br>LEI: 5493006Q4EBOXVQBQD12 | Long             |  | RF                | US        |    241922 | NS      | $2339385.74   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| OMAHA NEB SAN SEW REV                                                               | OMAHA NE SANTN SWR REVENUE                         | CUSIP: 681810MS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031660.00   | 0.19%             | 2031-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST                                                                         | MARYLAND ST                                        | CUSIP: 574193VL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1495000 | PA      | $1655174.30   | 0.30%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT COLUMBIA HOSP REV                                                          | DISTRICT OF COLUMBIA HOSP REVENUE                  | CUSIP: 254764JW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2519050.00   | 0.46%             | 2032-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH REV                                             | WISCONSIN HEALTH EDUCATIONAL FACILITIES AUTHORIT   | CUSIP: 97712DQU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2460000 | PA      | $2472841.20   | 0.45%             | 2035-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INGLEWOOD CALIF UNI SCH DIST                                                        | INGLEWOOD UNIFIED SCHOOL DISTRICT                  | CUSIP: 457110PH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1857267.00   | 0.34%             | 2043-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MULTNOMAH CNTY ORE SCH DIST NO 1J PORTLAND                                          | MULTNOMAH CNTY                                     | CUSIP: 625517KX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2723525.00   | 0.50%             | 2029-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL WASTEWATER TRANSMISSION REV                                             | CITY OF CHICAGO IL WASTEWATER TRANSMISSION REVENUE | CUSIP: 167727L38<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1284324.00   | 0.23%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ERNEST N MORIAL-NEW ORLEANS LA EXHIB HALL AUTH SPL TAX                              | ERNEST N MORIAL NEW ORLEANS EXHIBITION HALL        | CUSIP: 295852KV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2180000 | PA      | $2254381.60   | 0.41%             | 2044-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV                                         | NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY       | CUSIP: 64972JDE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1649520.00   | 0.30%             | 2036-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RACINE WIS UNI SCH DIST                                                             | RACINE UNIFIED SCHOOL DISTRICT                     | CUSIP: 750046TL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $927600.00    | 0.17%             | 2044-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HAMBLEN CNTY TENN                                                                   | COUNTY OF HAMBLEN TN                               | CUSIP: 406540TE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1215000 | PA      | $1315614.15   | 0.24%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZATION CORP ILL                                                   | SALES TAX SECURITIZATION CORP IL                   | CUSIP: 79467BGV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1270000 | PA      | $1375968.80   | 0.25%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WHITING IND ENVIRONMENTAL FACS REV                                                  | WHITING IN ENVRNMNTL FACS REVENUE                  | CUSIP: 96634RAU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2526200.00   | 0.46%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUB SVCS AUTH REV                                                 | SOUTH CAROLINA PUBLIC SERVICE AUTHORITY            | CUSIP: 837151ZJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1095380.00   | 0.20%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OMAHA PUB PWR DIST NEB ELEC REV                                                     | OMAHA PUBLIC POWER DISTRICT                        | CUSIP: 682001HX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1503441.00   | 0.27%             | 2034-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PEARLAND TEX                                                                        | PEARLAND TX                                        | CUSIP: 704865FE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $310419.00    | 0.06%             | 2029-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH REV                                                    | NEW JERSEY ST ECON DEV AUTH REVENUE                | CUSIP: 64577B7C2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1210000 | PA      | $1278498.10   | 0.23%             | 2028-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HIGHER ED ASSISTANCE AUTH STUD LN                                     | NEW JERSEY HIGHER EDUCATION STUDENT ASSISTANCE AUT | CUSIP: 646080WM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1725000 | PA      | $1817856.75   | 0.33%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TARRANT CNTY TEX CULTURAL ED FACS FIN CORP REV                                      | TARRANT COUNTY CULTURAL EDUCATION FACILITIES FINAN | CUSIP: 87638THC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2189900.00   | 0.40%             | 2053-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MFS High Income Municipal Trust                                                     | MFS HIGH INCOME MUNICIPAL TRUST                    | CUSIP: 59318D104<br>LEI: 0G9TCUWY2FBUXSJY2691 | Long             |  | RF                | US        |    195885 | NS      | $701268.30    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| ARLINGTON TEX HIGHER ED FIN CORP ED REV                                             | ARLINGTON HIGHER EDUCATION FINANCE CORP            | CUSIP: 041807MF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1059120.00   | 0.19%             | 2039-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST SPL TAX OBLIG REV                                                    | STATE OF CONNECTICUT SPECIAL TAX REVENUE           | CUSIP: 207758G80<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1647570.00   | 0.30%             | 2034-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST DEPT TRANSN CONS TRANSN                                                 | STATE OF MARYLAND DEPARTMENT OF TRANSPORTATION     | CUSIP: 574204Q48<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2742875.00   | 0.50%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CITY & CNTY                                                             | CITY COUNTY OF DENVER CO                           | CUSIP: 249164TX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $1016721.00   | 0.18%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHANDLER ARIZ INDL DEV AUTH INDL DEV REV                                            | CHANDLER INDUSTRIAL DEVELOPMENT AUTHORITY          | CUSIP: 158862CE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3425000 | PA      | $3433288.50   | 0.62%             | 2049-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TEX                                                                     | COUNTY OF HARRIS TX                                | CUSIP: 414005VP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1752030.00   | 0.32%             | 2034-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST                                                                    | COMMONWEALTH OF MASSACHUSETTS                      | CUSIP: 57582NUZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3383820.00   | 0.62%             | 2030-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                                     | NEW JERSEY TRANSPORTATION TRUST FUND AUTHORITY     | CUSIP: 64613CAN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1090580.00   | 0.20%             | 2030-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLIANCEBERNSTEIN NATIONAL MUNICIPAL INCOME FUND, INC.                              | ALLIANCEBERNSTEIN NATIONAL MUNICIPAL INCOME FUND I | CUSIP: 01864U106<br>LEI: MNYPOOOZYY8V01GEIT28 | Long             |  | RF                | US        |    453640 | NS      | $4677028.40   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| PENNSYLVANIA ST TPK COMMN TPK REV                                                   | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE       | CUSIP: 709225MG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2455000 | PA      | $2763495.30   | 0.50%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA SCH DIST                                                            | PHILADELPHIA PA SCH DIST                           | CUSIP: 717883ZX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1083180.00   | 0.20%             | 2036-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BALTIMORE CNTY MD                                                                   | COUNTY OF BALTIMORE MD                             | CUSIP: 05914FW55<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2050280.00   | 0.37%             | 2033-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA GAS SUPPLY REV                                              | MAIN STREET NATURAL GAS INC GA GAS SUPPLY          | CUSIP: 56035DCR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5018150.00   | 0.91%             | 2050-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH REV                                             | ASCENSION HEALTH CREDIT                            | CUSIP: 97712DV37<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1114333.00   | 0.20%             | 2026-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Invesco Quality Municipal Income Trust                                              | INVESCO QUALITY MUNICIPAL INCOME TRUST             | CUSIP: 46133G107<br>LEI: WLEGDSEH0E242WVNUY02 | Long             |  | RF                | US        |    118449 | NS      | $1111051.62   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| PHOENIX ARIZ CIVIC IMPT CORP ARPT REV                                               | CITY OF PHOENIX CIVIC IMPROVEMENT CORP             | CUSIP: 71883MPN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1555000 | PA      | $1635611.20   | 0.30%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y                                                                        | CITY OF NEW YORK NY                                | CUSIP: 64966SJU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5216850.00   | 0.95%             | 2043-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DETROIT MICH REGL CONVENTION FAC AUTH CONVENTION FAC SPL TAX REV                    | DETROIT REGIONAL CONVENTION FACILITY AUTHORITY     | CUSIP: 251220AU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2102340.00   | 0.38%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN BERNARDINO CALIF CITY UNI SCH DIST CTFS PARTN                                   | SAN BERNARDINO CITY UNIFIED SCHOOL DISTRICT        | CUSIP: 796714EX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7960000 | PA      | $8420167.60   | 1.53%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH ACT 38 FACS SR REV                                                | MICHIGAN ST FIN AUTH ACT 38 FACS SENIOR REVEUE     | CUSIP: 59447NAP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1425000 | PA      | $1490977.50   | 0.27%             | 2034-02-28      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LUZERNE CNTY PA INDL DEV AUTH REV                                                   | LUZERNE CNTY PA INDL DEV AUTH                      | CUSIP: 550728AF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1860000 | PA      | $1695576.00   | 0.31%             | 2039-12-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| ALBUQUERQUE N MEX MUN SCH DIST NO 012                                               | ALBUQUERQUE NM MUNI SCH DIST 12                    | CUSIP: 013595VR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1025000 | PA      | $1090989.50   | 0.20%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CURATORS UNIV MO SYS FACS REV                                                       | CURATORS OF THE UNIVERSITY OF MISSOURI             | CUSIP: 231266MK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2505000 | PA      | $2783781.45   | 0.51%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GEORGIA ST                                                                          | GEORGIA ST                                         | CUSIP: 373385NU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $604644.30    | 0.11%             | 2028-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF UNI SCH DIST                                                      | LOS ANGELES UNIFIED SCHOOL DISTRICT CA             | CUSIP: 544647HM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    945000 | PA      | $1051681.05   | 0.19%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HIGHER ED ASSISTANCE AGY ED LN REV                                     | PENNSYLVANIA HIGHER EDUCATION ASSISTANCE AGENCY    | CUSIP: 70878CAR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1057690.00   | 0.19%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FAYETTEVILLE N C PUB WKS COMMN REV                                                  | FAYETTEVILLE NC PUBLIC WKS COMMISSION              | CUSIP: 312805NZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    820000 | PA      | $915169.20    | 0.17%             | 2031-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLLEGE STATION TEX                                                                 | CITY OF COLLEGE STATION TX                         | CUSIP: 194469PG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    920000 | PA      | $1013214.40   | 0.18%             | 2031-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TPK COMMN TPK REV                                                   | PENNSYLVANIA TURNPIKE COMMISSION                   | CUSIP: 709224P52<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5870000 | PA      | $5873228.50   | 1.07%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST                                                                       | WASHINGTON ST                                      | CUSIP: 93974EUZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    790000 | PA      | $885590.00    | 0.16%             | 2032-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federated Hermes Premier Municipal Income Fund                                      | FEDERATED HERMES PREMIER MUNICIPAL INCOME FUND     | CUSIP: 31423P108<br>LEI: C0TUI5ZPEIY028NN4Q23 | Long             |  | RF                | US        |     34925 | NS      | $371602.00    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| ILLINOIS MUN ELEC AGY PWR SUPPLY SYS REV                                            | ILLINOIS ST MUNI ELEC AGY PWR SPLY                 | CUSIP: 452024JD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1609641.00   | 0.29%             | 2035-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH REV                                                               | MICHIGAN ST FIN AUTH REVENUE                       | CUSIP: 59447TF40<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1280000 | PA      | $1411225.60   | 0.26%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS REV                                | NEW YORK CITY NY MUNI WTR FIN AUTH WTR SWR SYS R   | CUSIP: 64972GJ54<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4940000 | PA      | $5592080.00   | 1.02%             | 2036-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BlackRock Municipal 2030 Target Term Trust                                          | BLACKROCK MUNICIPAL 2030 TARGET TERM TRUST         | CUSIP: 09257P105<br>LEI: 549300TDIJ2J8F6X3N04 | Long             |  | RF                | US        |    319133 | NS      | $6985821.37   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| WASHINGTON D C MET AREA TRAN AUTH DEDICATED REV                                     | WASHINGTON METROPOLITAN AREA TRANSIT AUTHORITY DED | CUSIP: 93878YCD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2815000 | PA      | $3118907.40   | 0.57%             | 2031-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV                             | CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY    | CUSIP: 13013JDG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2647225.00   | 0.48%             | 2054-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COLORADO ST BLDG EXCELLENT SCHS TODAY CTFS PARTN                                    | STATE OF COLORADO                                  | CUSIP: 19668QKE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3740000 | PA      | $3946410.60   | 0.72%             | 2029-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Nuveen Municipal Value Fund, Inc.                                                   | NUVEEN MUNICIPAL VALUE FUND INC                    | CUSIP: 670928100<br>LEI: 549300TFLBQ7LJSP8B20 | Long             |  | RF                | US        |    101974 | NS      | $886154.06    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| ROUND ROCK TEX                                                                      | CITY OF ROUND ROCK TX                              | CUSIP: 779223KC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    670000 | PA      | $721978.60    | 0.13%             | 2039-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUB SVCS AUTH REV                                                 | SOUTH CAROLINA PUBLIC SERVICE AUTHORITY            | CUSIP: 837151XV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    680000 | PA      | $712755.60    | 0.13%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY REV                                                    | MASSACHUSETTS DEVELOPMENT FINANCE AGENCY           | CUSIP: 57585BEZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3550000 | PA      | $3883203.00   | 0.71%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT SEATTLE WASH REV                                                               | PORT OF SEATTLE WA                                 | CUSIP: 735389U71<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1555000 | PA      | $1650041.60   | 0.30%             | 2033-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV                                      | KENTUCKY PUBLIC ENERGY AUTHORITY                   | CUSIP: 74440DDS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3560000 | PA      | $3591078.80   | 0.65%             | 2052-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WEST ALLIS WEST MILWAUKEE ET AL WIS SCH DIST                                        | WEST ALLIS WEST MILWAUKEE SCHOOL DISTRICT          | CUSIP: 951164KC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $876450.00    | 0.16%             | 2038-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH WASTEWATER UTIL REV                                             | INDIANA FINANCE AUTHORITY                          | CUSIP: 45505MMG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1491979.50   | 0.27%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP N J                                                    | TOBACCO SETTLEMENT FINANCING CORP                  | CUSIP: 888808HJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1035000 | PA      | $1056672.90   | 0.19%             | 2033-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ORLANDO FLA UTILS COMMN UTIL SYS REV                                                | ORLANDO UTILITIES COMMISSION                       | CUSIP: 686507HY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3295000 | PA      | $3408908.15   | 0.62%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLEN CNTY OHIO HOSP FACS REV                                                       | COUNTY OF ALLEN OH HOSPITAL FACILITIES REVENUE     | CUSIP: 01757LHF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5645000 | PA      | $5939781.90   | 1.08%             | 2039-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FREDERICK CNTY MD                                                                   | COUNTY OF FREDERICK MD                             | CUSIP: 35569PKT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    860000 | PA      | $946000.00    | 0.17%             | 2037-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DTF Tax-Free Income 2028 Term Fund Inc                                              | DTF TAX FREE INCOME 2028 TERM FUND INC             | CUSIP: 23334J107<br>LEI: 549300UTPMUSB8BKGI82 | Long             |  | RF                | US        |     71012 | NS      | $794624.28    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| HARRIS CNTY TEX                                                                     | HARRIS CNTY TX REF SENIOR LIEN SER A               | CUSIP: 414005WK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1545000 | PA      | $1580704.95   | 0.29%             | 2030-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV                                         | NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY       | CUSIP: 64972JJP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    930000 | PA      | $1046761.50   | 0.19%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLIFTON TEX HIGHER ED FIN CORP ED REV                                               | CLIFTON HIGHER EDUCATION FINANCE CORP              | CUSIP: 187145VG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6340380.00   | 1.15%             | 2038-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALA GAS SUPPLY REV                                       | BLACK BELT ENERGY GAS DIST AL GAS SPLY REVENUE     | CUSIP: 09182NCT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1609245.00   | 0.29%             | 2053-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL MET WTR RECLAMATION DIST GTR CHICAGO                                    | METROPOLITAN WATER RECLAMATION DISTRICT OF GREATER | CUSIP: 167560VX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1420000 | PA      | $1574240.40   | 0.29%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KANSAS CITY MO WTR REV                                                              | CITY OF KANSAS CITY MO WATER REVENUE               | CUSIP: 485116H83<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1545000 | PA      | $1596278.55   | 0.29%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN GOVT NASHVILLE & DAVIDSON CNTY TENN HEALTH & EDL FACS BRD EDL FACS REV | MET GOVT NASHVILLE DAVIDSON CNTY                   | CUSIP: 592029CB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1058830.00   | 0.19%             | 2035-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DALLAS FORT WORTH TEX INTL ARPT REV                                                 | DALLAS FORT WORTH INTERNATIONAL AIRPORT            | CUSIP: 23503CDS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    545000 | PA      | $602007.00    | 0.11%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST                                                                         | MARYLAND ST                                        | CUSIP: 574193SH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1240000 | PA      | $1357378.40   | 0.25%             | 2031-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH REV                                                               | ILLINOIS ST FIN AUTH REVENUE                       | CUSIP: 45204FEH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1387526.25   | 0.25%             | 2050-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-30

**Name of Applicant:** HC Capital Trust

**Signature:** Colette Bergman

**Name of Signer:** Colette Bergman

**Title:** Treasurer