# EDGAR Filing Document

**Accession Number:** 0001424212
**File Stem:** 0001145549-23-017787
**Filing Date:** 2023-3
**Character Count:** 843395
**Document Hash:** 744e8cf375ddcc125b99ed31c3fdd67e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-017787.hdr.sgml**: 20230323

**ACCESSION NUMBER**: 0001145549-23-017787

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230323

**DATE AS OF CHANGE**: 20230323

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIRST TRUST EXCHANGE-TRADED FUND III
- **CENTRAL INDEX KEY:** 0001424212
- **IRS NUMBER:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22245
- **FILM NUMBER:** 23755615

**BUSINESS ADDRESS:**
- **STREET 1:** 120 EAST LIBERTY DRIVE
- **STREET 2:** SUITE 400
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187
- **BUSINESS PHONE:** 630-765-8000

**MAIL ADDRESS:**
- **STREET 1:** 120 EAST LIBERTY DRIVE
- **STREET 2:** SUITE 400
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** First Trust Exchange-Traded Fund III
- **DATE OF NAME CHANGE:** 20160419

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** First Trust Exchange Traded Fund III
- **DATE OF NAME CHANGE:** 20080116

## Series and Classes Contracts Data

### First Trust Managed Municipal ETF (Series ID: S000044373)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000138174 | First Trust Managed Municipal ETF | FMB             |

## Nport-Ex

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS – 98.4%** | **MUNICIPAL BONDS – 98.4%** | **MUNICIPAL BONDS – 98.4%** | **MUNICIPAL BONDS – 98.4%** | **MUNICIPAL BONDS – 98.4%** |
|  | **Alabama – 4.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$225000 | AL Cmnty Clg Sys Brd of Trustees Rev Bishop St Cmnty Clg, BAM<br>| 4.00% | 01/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$237644 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | AL St Port Auth Docks Facs Rev Ref Docks Facs Rev, Ser A, AGM, AMT<br>| 5.00% | 10/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526142 |
| &nbsp;&nbsp;&nbsp;&nbsp;2380000 | AL St Port Auth Docks Facs Rev Ref Docks Facs Rev, Ser A, AGM, AMT<br>| 5.00% | 10/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2564904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;940000 | Birmingham AL Wtrwks Brd Wtr Rev Ref Sr, Ser A (Pre-refunded maturity 01/01/27)<br>| 4.00% | 01/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1003982 |
| &nbsp;&nbsp;&nbsp;&nbsp;7695000 | Black Belt Energy Gas Dist AL Gas Proj Rev Gas Proj Rev Bonds, Proj No. 7, Ser C-1 (Mandatory put 12/01/26) <br>| 4.00% | 10/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7710612 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Black Belt Energy Gas Dist AL Gas Proj Rev Gas Proj, Ser E<br>| 5.00% | 06/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1056515 |
| &nbsp;&nbsp;&nbsp;&nbsp;1250000 | Black Belt Energy Gas Dist AL Gas Proj Rev Gas Proj, Ser F (Mandatory put 12/01/28)<br>| 5.50% | 11/01/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1343195 |
| &nbsp;&nbsp;&nbsp;10070000 | Black Belt Energy Gas Dist AL Gas Proj Rev Proj No. 6, Ser B (Mandatory put 12/01/26)<br>| 4.00% | 10/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10090430 |
| &nbsp;&nbsp;&nbsp;&nbsp;5000000 | Black Belt Energy Gas Dist AL Gas Proj Rev, Ser C-1 (Mandatory put 6/01/29)<br>| 5.25% | 02/01/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5365350 |
| &nbsp;&nbsp;&nbsp;&nbsp;5000000 | Columbia AL Indl Dev Brd Pollcontrol Rev Var Ref AL Pwr Co Proj, Ser A (a)<br>| 1.35% | 12/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;6500000 | Eutaw AL Indl Dev Brd Poll Control Rev Adj Ref Ala Pwr Co Pj (a)<br>| 1.35% | 06/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6500000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415000 | Gulf Shores AL Ref Warrants, Ser A<br>| 5.00% | 12/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310000 | Gulf Shores AL Ref Warrants, Ser A<br>| 5.00% | 12/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | Homewood AL Eductnl Bldg Auth Rev Ref Samford Univ Proj, Ser A<br>| 4.00% | 12/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950000 | Homewood AL Eductnl Bldg Auth Rev Ref Samford Univ Proj, Ser A<br>| 4.00% | 12/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;978759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 | Infirmary Hlth Sys AL Spl Care Facs Fing Auth Rev Infirmary Hlth Sys Inc, Ser A<br>| 5.00% | 02/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930000 | Leeds AL Pub Eductnl Bldg Auth Eductnl Facs Rev Ref Edu, AGM<br>| 4.00% | 04/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;963691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695000 | Leeds AL Pub Eductnl Bldg Auth Eductnl Facs Rev Ref Edu, AGM<br>| 4.00% | 04/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;719864 |
| &nbsp;&nbsp;&nbsp;&nbsp;4000000 | Lower AL Gas Dist Gas Proj Rev Gas Proj Rev Bonds Proj 2 (Mandatory put 12/01/25)<br>| 4.00% | 12/01/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4019172 |
| &nbsp;&nbsp;&nbsp;&nbsp;1445000 | Lower AL Gas Dist Gas Proj Rev, Ser A<br>| 5.00% | 09/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1565784 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Midcity Impt Dist AL Spl Assmnt Rev<br>| 4.50% | 11/01/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;816697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375000 | Mobile AL Impt Dist Sales Tax Rev McGowin Park Proj, Ser A<br>| 5.00% | 08/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Mobile Cnty AL Impt Warrants (Pre-refunded maturity 08/01/25)<br>| 5.00% | 08/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;533785 |
| &nbsp;&nbsp;&nbsp;&nbsp;1105000 | Prichard AL Wtrwks & Swr Brd Wtr & Swr Rev Ref (b)<br>| 4.00% | 11/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;642685 |
| &nbsp;&nbsp;&nbsp;&nbsp;1565000 | Prichard AL Wtrwks & Swr Brd Wtr & Swr Rev Ref (b)<br>| 4.00% | 11/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;901765 |
| &nbsp;&nbsp;&nbsp;&nbsp;1605000 | Prichard AL Wtrwks & Swr Brd Wtr & Swr Rev Ref (b)<br>| 4.00% | 11/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;892372 |
| &nbsp;&nbsp;&nbsp;&nbsp;1395000 | Prichard AL Wtrwks & Swr Brd Wtr & Swr Rev Ref (b)<br>| 4.00% | 11/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;761304 |
| &nbsp;&nbsp;&nbsp;&nbsp;1765000 | Prichard AL Wtrwks & Swr Brd Wtr & Swr Rev Ref (b)<br>| 4.00% | 11/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;945200 |
| &nbsp;&nbsp;&nbsp;&nbsp;1840000 | Prichard AL Wtrwks & Swr Brd Wtr & Swr Rev Ref (b)<br>| 4.00% | 11/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;966645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | SE AL St Gas Sply Dist Gas Sply Rev Proj #1, Ser A (Mandatory put 04/01/24)<br>| 4.00% | 04/01/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110302 |
| &nbsp;&nbsp;&nbsp;&nbsp;3000000 | SE AL St Gas Sply Dist Gas Sply Rev Proj #2, Ser A (Mandatory put 06/01/24)<br>| 4.00% | 06/01/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3007076 |
| &nbsp;&nbsp;&nbsp;&nbsp;8050000 | SE Energy Auth AL Cmdy Sply Rev Proj #1, Ser A (Mandatory put 10/01/28)<br>| 4.00% | 11/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8060450 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | SE Energy Auth AL Cmdy Sply Rev Proj #4, Ser B-1 (Mandatory put 08/01/28)<br>| 5.00% | 05/01/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2096884 |
| &nbsp;&nbsp;&nbsp;&nbsp;1500000 | Southeast Energy Auth AL Cmdy Sply Rev Var Proj No 3 (Mandatory put 12/01/29)<br>| 5.50% | 01/01/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1633849 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **Alabama (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;$1040000 | Troy AL Ref Warrants, BAM<br>| 4.00% | 07/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1051134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105000 | UAB Medicine Fin Auth AL Rev Ref UAB Medicine, Ser B<br>| 5.00% | 09/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112137 |
| &nbsp;&nbsp;&nbsp;&nbsp;5000000 | UAB Medicine Fin Auth AL Rev Ref UAB Medicine, Ser B2<br>| 5.00% | 09/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5236706 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79461291 |
|  | **Alaska – 0.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1880000 | AK St Indl Dev & Export Auth Pwr Rev Ref Snettisham Hydroelectric Proj, AMT<br>| 4.00% | 01/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1897475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 | Nthrn AK Tobacco Securitization Corp Tobacco Stlmt Rev Ref Sr, Ser A, Class 1<br>| 4.00% | 06/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440481 |
| &nbsp;&nbsp;&nbsp;&nbsp;1500000 | Nthrn AK Tobacco Securitization Corp Tobacco Stlmt Rev Ref Sr, Ser A, Class 1<br>| 4.00% | 06/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1454821 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3792777 |
|  | **Arizona – 2.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1205000 | AZ Brd of Rgts Univ AZ Sys Rev Green Bond, Ser B<br>| 5.00% | 06/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1310064 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | AZ St Indl Dev Auth Edu Rev Acads of Math & Science Proj (c)<br>| 5.00% | 07/01/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;953470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595000 | AZ St Indl Dev Auth Edu Rev Cadence Cmps Proj, Ser A (c)<br>| 4.00% | 07/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925000 | AZ St Indl Dev Auth Edu Rev Cadence Cmps Proj, Ser A (c)<br>| 4.00% | 07/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;808312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | AZ St Indl Dev Auth Edu Rev Doral Acdmy NV Fire Mesa & Red Rock Cmps Proj, Ser A (c)<br>| 5.00% | 07/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | AZ St Indl Dev Auth Edu Rev Macombs Fac Proj Social Bonds, Ser A<br>| 4.00% | 07/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375000 | AZ St Indl Dev Auth Edu Rev Ref Basis Sch Projs, Ser D (c)<br>| 5.00% | 07/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880000 | AZ St Indl Dev Auth Edu Rev Ref Basis Schs Projs, Ser A (c)<br>| 5.00% | 07/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890718 |
| &nbsp;&nbsp;&nbsp;&nbsp;1030000 | AZ St Indl Dev Auth Edu Rev Ref Basis Schs Projs, Ser G (c)<br>| 5.00% | 07/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1032379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | AZ St Indl Dev Auth Edu Rev Ref Doral Acdmy of Northern NV Proj, Ser A (c)<br>| 4.00% | 07/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950000 | AZ St Indl Dev Auth Edu Rev Ref Doral Acdmy of Northern NV Proj, Ser A (c)<br>| 4.00% | 07/15/56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;722491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | AZ St Indl Dev Auth Edu Rev Somerset Acdmy of LV Aliante & Skye Canyon Cmps Proj, Ser A (c)<br>| 4.00% | 12/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;627333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | AZ St Indl Dev Auth Edu Rev, Ser A (c)<br>| 4.00% | 07/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474874 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415000 | AZ St Indl Dev Auth Natl Chrt Sch Revolving Loan Fd Social Bonds Equitable Sch Revolving Fund, Ser A <br>| 5.00% | 11/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452315 |
| &nbsp;&nbsp;&nbsp;&nbsp;1005000 | AZ St Indl Dev Auth Natl Chrt Sch Revolving Loan Fd Social Bonds Equitable Sch Revolving Fund, Ser A <br>| 5.00% | 11/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1087175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465000 | AZ St Indl Dev Auth Natl Chrt Sch Revolving Loan Fd Social Bonds Equitable Sch Revolving Fund, Ser A <br>| 5.00% | 11/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595000 | AZ St Indl Dev Auth Natl Chrt Sch Revolving Loan Fd Social Bonds Equitable Sch Revolving Fund, Ser A <br>| 4.00% | 11/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;586321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | AZ St Indl Dev Auth Natl Chrt Sch Revolving Loan Fd Social Bonds Equitable Sch Revolving Fund, Ser A <br>| 4.00% | 11/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;733089 |
| &nbsp;&nbsp;&nbsp;&nbsp;3800000 | AZ St Indl Dev Auth Natl Chrt Sch Revolving Loan Fd Social Bonds Equitable Sch Revolving Fund, Ser A <br>| 4.00% | 11/01/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3509413 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | AZ St Indl Dev Auth Rev Lincoln S Beltway Proj<br>| 5.00% | 08/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1120561 |
| &nbsp;&nbsp;&nbsp;&nbsp;1985000 | AZ St Indl Dev Auth Rev Lincoln S Beltway Proj<br>| 5.00% | 11/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2237232 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | AZ St Indl Dev Auth Rev Lincoln S Beltway Proj<br>| 5.00% | 05/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1137113 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | AZ St Indl Dev Auth Rev Lincoln S Beltway Proj<br>| 5.00% | 08/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1140380 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | Chandler AZ Indl Dev Auth Indl Dev Rev Var Intel Corp Proj, Ser 2022-2, AMT (Mandatory put 09/01/27)<br>| 5.00% | 09/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2119383 |
| &nbsp;&nbsp;&nbsp;&nbsp;4000000 | Glendale AZ Indl Dev Auth Sr Living Facs Rev Ref Sun Hlth Svcs, Ser A<br>| 5.00% | 11/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4084816 |
| &nbsp;&nbsp;&nbsp;&nbsp;1350000 | Maricopa Cnty AZ Elem Sch Dist #25 Liberty, Ser A, AGM<br>| 5.00% | 07/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1552938 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **Arizona (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$200000 | Maricopa Cnty AZ Indl Dev Auth Edu Rev Greathearts AZ Projs, Ser C<br>| 5.00% | 07/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$208746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;830000 | Maricopa Cnty AZ Indl Dev Auth Edu Rev Legacy Trad Schs Proj<br>| 4.00% | 07/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;857434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435000 | Maricopa Cnty AZ Indl Dev Auth Edu Rev Legacy Trad Schs Proj<br>| 4.00% | 07/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 | Maricopa Cnty AZ Indl Dev Auth Edu Rev Legacy Trad Schs Proj<br>| 4.00% | 07/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | Maricopa Cnty AZ Indl Dev Auth Edu Rev Legacy Trad Schs Proj<br>| 4.00% | 07/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;717898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985000 | Maricopa Cnty AZ Indl Dev Auth Edu Rev Legacy Trad Schs Proj<br>| 4.00% | 07/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1007308 |
| &nbsp;&nbsp;&nbsp;&nbsp;1025000 | Maricopa Cnty AZ Indl Dev Auth Edu Rev Legacy Trad Schs Proj<br>| 4.00% | 07/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1039325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Maricopa Cnty AZ Indl Dev Auth Edu Rev Ref Horizon Cmnty Learning Ctr Proj<br>| 5.00% | 07/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Maricopa Cnty AZ Indl Dev Auth Edu Rev Ref Legacy Trad Sch Proj<br>| 4.00% | 07/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511324 |
| &nbsp;&nbsp;&nbsp;&nbsp;1100000 | Maricopa Cnty AZ Indl Dev Auth Edu Rev Ref Legacy Trad Schs Proj Auth, Ser B (c)<br>| 5.00% | 07/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1101746 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Maricopa Cnty AZ Indl Dev Auth Edu Rev Ref Legacy Trad Schs Proj Auth, Ser B (c)<br>| 5.00% | 07/01/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;946699 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | Maricopa Cnty AZ Indl Dev Auth Edu Rev Ref Paradise Schs Projs Paragon Mgmt Inc (c)<br>| 4.00% | 07/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397217 |
| &nbsp;&nbsp;&nbsp;&nbsp;1475000 | Maricopa Cnty AZ Spl Hlthcare Dist Aka Maricopa Integrated Hlth Sys, Ser C<br>| 5.00% | 07/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1644536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | Phoenix AZ Indl Dev Auth Edu Rev Fac Legacy Trad Schs Projs, Ser A (c)<br>| 4.00% | 07/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297631 |
| &nbsp;&nbsp;&nbsp;&nbsp;3655000 | Phoenix AZ Indl Dev Auth Edu Rev Ref Basis Schs Projs, Ser A (c)<br>| 5.00% | 07/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3674042 |
| &nbsp;&nbsp;&nbsp;&nbsp;5000000 | Phoenix AZ Indl Dev Auth Hotel Rev Sr Falcon Properties LLC Proj, Ser A (c)<br>| 4.00% | 12/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4280690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | Phoenix AZ Indl Dev Auth Stdt Hsg Rev Downtown Phoenix Stdt Hsg II LLC AZ St Univ Proj, Ser A <br>| 5.00% | 07/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | Phoenix AZ Indl Dev Auth Stdt Hsg Rev Downtown Phoenix Stdt Hsg II LLC AZ St Univ Proj, Ser A <br>| 5.00% | 07/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | Phoenix AZ Indl Dev Auth Stdt Hsg Rev Downtown Phoenix Stdt Hsg II LLC AZ St Univ Proj, Ser A <br>| 5.00% | 07/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | Phoenix AZ Indl Dev Auth Stdt Hsg Rev Downtown Phoenix Stdt Hsg II LLC AZ St Univ Proj, Ser A <br>| 5.00% | 07/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | Phoenix AZ Indl Dev Auth Stdt Hsg Rev Downtown Phoenix Stdt Hsg II LLC AZ St Univ Proj, Ser A <br>| 5.00% | 07/01/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;708777 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | Phoenix AZ Indl Dev Auth Stdt Hsg Rev Ref Downtown Phoenix Stdt Hsg LLC AZ St Univ Proj, Ser A <br>| 5.00% | 07/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207091 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Tempe AZ Indl Dev Auth Rev Ref Friendship Vlg of Tempe Proj, Ser A<br>| 4.00% | 12/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;842744 |
| &nbsp;&nbsp;&nbsp;&nbsp;1030000 | Yavapai Cnty AZ Jail Dist Rev, BAM<br>| 4.00% | 07/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1115502 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51311596 |
|  | **Arkansas – 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610000 | AR Dev Fin Auth Hlthcare Rev Baptist Hlth<br>| 4.00% | 12/01/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | Univ of Central Arkansas AR Rev, Ser A, AGM<br>| 5.00% | 11/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375913 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;981472 |
|  | **California – 7.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4500000 | CA Cmnty Choice Fing Auth Clean Energy Proj Rev Green Bond, Ser A-1 (Mandatory put 08/01/28) <br>| 4.00% | 05/01/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4571425 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | CA Cmnty Choice Fing Auth Clean Energy Proj Rev Green Bond, Ser B-1 (Mandatory put 08/01/31) <br>| 4.00% | 02/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2028643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | CA Cnty CA Tobacco Securitization Agy Tobacco Settle Ref Sonoma Cnty Securitization Corp, Ser A <br>| 5.00% | 06/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248417 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **California (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$200000 | CA Cnty CA Tobacco Securitization Agy Tobacco Settle Ref Sonoma Cnty Securitization Corp, Ser A <br>| 5.00% | 06/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$220239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230000 | CA Cnty CA Tobacco Securitization Agy Tobacco Settle Ref Sonoma Cnty Securitization Corp, Ser A <br>| 5.00% | 06/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | CA Cnty CA Tobacco Securitization Agy Tobacco Settle Ref Sonoma Cnty Securitization Corp, Ser A <br>| 4.00% | 06/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | CA Cnty CA Tobacco Securitization Agy Tobacco Settle Ref Sonoma Cnty Securitization Corp, Ser A <br>| 4.00% | 06/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 | CA Cnty CA Tobacco Securitization Agy Tobacco Stlmt Sr Ref, Ser A<br>| 5.00% | 06/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;492985 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | CA Sch Fin Auth Sch Fac Rev Alliance Clg Ready Pub Schs Proj, Ser C (c)<br>| 4.50% | 07/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1026008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460000 | CA Sch Fin Auth Sch Fac Rev Granada Hills Chrt Oblig Grp (c)<br>| 5.00% | 07/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480000 | CA Sch Fin Auth Sch Fac Rev Granada Hills Chrt Oblig Grp (c)<br>| 5.00% | 07/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500447 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | CA Sch Fin Auth Sch Fac Rev Granada Hills Chrt Oblig Grp (c)<br>| 5.00% | 07/01/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2039262 |
| &nbsp;&nbsp;&nbsp;&nbsp;1325000 | CA Sch Fin Auth Sch Fac Rev Kipp SoCal Pub Schs, Ser A (c)<br>| 5.00% | 07/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1388707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455000 | CA Sch Fin Auth Sch Fac Rev Ref HTH Learning Proj, Ser A (c)<br>| 4.00% | 07/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | CA Sch Fin Auth Sch Fac Rev Ref HTH Learning Proj, Ser A (c)<br>| 5.00% | 07/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;804683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655000 | CA Sch Fin Auth Sch Fac Rev, Ser A (c)<br>| 5.00% | 07/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;668770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | CA St<br>| 5.00% | 08/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;842332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | CA St Ent Dev Auth Lease Rev Riverside Cnty Library Fac Proj<br>| 4.00% | 11/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229428 |
| &nbsp;&nbsp;&nbsp;&nbsp;2190000 | CA St Ent Dev Auth Lease Rev Riverside Cnty Library Fac Proj<br>| 4.00% | 11/01/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2163791 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480000 | CA St Hlth Facs Fing Auth Rev Adventist Hlth Sys W, Ser A<br>| 4.00% | 03/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | CA St Hlth Facs Fing Auth Rev Ref Sutter Hlth, Ser B<br>| 5.00% | 11/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | CA St Hlth Facs Fing Auth Rev Sutter Hlth, Ser A<br>| 5.00% | 11/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445000 | CA St Muni Fin Auth Chrt Sch Lease Rev Vista Chrt Middle Sch Proj (b)<br>| 5.38% | 07/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | CA St Muni Fin Auth Chrt Sch Rev Palmdale Aerospace Acdmy Proj (c)<br>| 4.00% | 07/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490605 |
| &nbsp;&nbsp;&nbsp;&nbsp;1515000 | CA St Muni Fin Auth Mobile Home Park Rev Sr Caritas Affordable Hsg Inc Projs, Ser A<br>| 5.25% | 08/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1547951 |
| &nbsp;&nbsp;&nbsp;&nbsp;1805000 | CA St Muni Fin Auth Mobile Home Park Rev Sr Caritas Affordable Hsg Inc Projs, Ser A<br>| 5.25% | 08/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1837905 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | CA St Muni Fin Auth Ref Palomar Hlth, Ser A, AGM, COPS<br>| 5.25% | 11/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1139844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | CA St Muni Fin Auth Rev Channing House Proj, Ser B<br>| 5.00% | 05/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213879 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | CA St Muni Fin Auth Rev Cmnty Hlth Sys, Ser A<br>| 4.00% | 02/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;989436 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | CA St Muni Fin Auth Rev Cmnty Hlth Sys, Ser A<br>| 4.00% | 02/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | CA St Muni Fin Auth Rev Ref Eisenhower Med Ctr, Ser A<br>| 5.00% | 07/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;531655 |
| &nbsp;&nbsp;&nbsp;&nbsp;1250000 | CA St Muni Fin Auth Rev Ref HumanGood Oblig Grp, Ser A<br>| 4.00% | 10/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1277538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | CA St Muni Fin Auth Rev Ref HumanGood Oblig Grp, Ser A<br>| 4.00% | 10/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;612598 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | CA St Muni Fin Auth Rev Ref HumanGood Oblig Grp, Ser A<br>| 4.00% | 10/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1015439 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | CA St Muni Fin Auth Rev Ref HumanGood Oblig Grp, Ser A<br>| 4.00% | 10/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1011065 |
| &nbsp;&nbsp;&nbsp;&nbsp;2130000 | CA St Muni Fin Auth Rev Ref HumanGood Oblig Grp, Ser A<br>| 4.00% | 10/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2141590 |
| &nbsp;&nbsp;&nbsp;&nbsp;3420000 | CA St Muni Fin Auth Rev Ref HumanGood Oblig Grp, Ser A<br>| 5.00% | 10/01/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3568451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680000 | CA St Muni Fin Auth Rev Ref Retmnt Hsg Fdtn Oblig Grp, Ser A<br>| 5.00% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;767824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650000 | CA St Muni Fin Auth Rev Sr Lien Linxs APM Proj, Ser A, AMT<br>| 5.00% | 06/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705155 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | CA St Muni Fin Auth Spl Fac Rev United Airls Inc Proj, AMT<br>| 4.00% | 07/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1984251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | CA St Muni Fin Auth Sr Living Rev Ref Mt San Antonio Gardens Proj<br>| 4.00% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195726 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | CA St Muni Fin Auth Stdt Hsg Rev Green Bond Orchard Park Stdt Hsg Proj, BAM<br>| 4.00% | 05/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;994170 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | CA St Poll Control Fin Auth Sol Wst Disp Rev Ref Wst Mgmt Inc, Ser A1, AMT<br>| 3.38% | 07/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;996652 |
| &nbsp;&nbsp;&nbsp;&nbsp;3000000 | CA St Poll Control Fin Auth Sol Wst Disp Rev Var Ref Rep Svcs Remk, Ser A, AMT (Mandatory put 05/01/23) (c)<br>| 4.10% | 08/01/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000058 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **California (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;$5990000 | CA St Poll Control Fin Auth Wtr Furnishing Rev Plant Bonds, AMT (c)<br>| 5.00% | 07/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6006600 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | CA St Pub Wks Brd Lease Rev Various Capital Proj, Ser B<br>| 4.00% | 05/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1049784 |
| &nbsp;&nbsp;&nbsp;&nbsp;4015000 | CA St Ref, AGM<br>| 5.25% | 08/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4990973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | CA St Ref, Ser C<br>| 5.00% | 09/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535328 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | CA St Sch Fin Auth Chrt Sch Rev Arts in Action Chrt Schs, Ser A (c)<br>| 5.00% | 06/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2003718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | CA St Sch Fin Auth Chrt Sch Rev Summit Pub Schs (c)<br>| 5.00% | 06/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | CA Stwd Cmntys Dev Auth Rev Loma Linda Univ Med Ctr, Ser A (c)<br>| 5.00% | 12/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 | CA Stwd Cmntys Dev Auth Rev Loma Linda Univ Med Ctr, Ser A (c)<br>| 5.00% | 12/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | CA Stwd Cmntys Dev Auth Rev Ref CA Baptist Univ, Ser A (c)<br>| 5.00% | 11/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | CA Stwd Cmntys Dev Auth Rev Ref Front Porch Cmntys & Svcs, Ser A<br>| 5.00% | 04/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195000 | CA Stwd Cmntys Dev Auth Rev Ref Front Porch Cmntys & Svcs, Ser A<br>| 5.00% | 04/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370000 | Chino CA Cmnty Facs Dist Spl Tax #2003-3 Impt Area #7<br>| 5.00% | 09/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | Chino Vly CA Unif Sch Dist, Ser B<br>| 5.00% | 08/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | Chino Vly CA Unif Sch Dist, Ser B<br>| 5.00% | 08/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284099 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | CSCDA Cmnty Impt Auth CA Essential Hsg Rev the Link Glendale Social Bonds, Ser A-2 (c)<br>| 4.00% | 07/01/56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;813415 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | CSCDA Cmnty Impt Auth CA Essential Hsg Rev Union S Bay Social Bonds, Ser A-2 (c)<br>| 4.00% | 07/01/56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;788268 |
| &nbsp;&nbsp;&nbsp;&nbsp;2160000 | Etiwanda CA Sch Dist Cmnty Facs Dist #9 Spl Tax Ref<br>| 5.00% | 09/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2270510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130000 | Folsom Ranch CA Fing Auth Spl Tax Rev Cmnty Facs Dist No 19 Mangini<br>| 4.00% | 09/01/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155000 | Folsom Ranch CA Fing Auth Spl Tax Rev Cmnty Facs Dist No 19 Mangini<br>| 4.00% | 09/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165000 | Folsom Ranch CA Fing Auth Spl Tax Rev White Rock Springs Ranch<br>| 4.00% | 09/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170000 | Folsom Ranch CA Fing Auth Spl Tax Rev White Rock Springs Ranch<br>| 4.00% | 09/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | Folsom Ranch CA Fing Auth Spl Tax Rev White Rock Springs Ranch<br>| 4.00% | 09/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | Fontana CA Spl Tax Spl Tax the Meadows<br>| 4.00% | 09/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265000 | Fontana CA Spl Tax Spl Tax the Meadows<br>| 4.00% | 09/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | Fontana CA Spl Tax Spl Tax the Meadows<br>| 4.00% | 09/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535000 | Fontana CA Spl Tax Spl Tax the Meadows<br>| 4.00% | 09/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Foothill-De Anza CA Cmnty Clg Dist Ref, COPS (Pre-refunded maturity 10/01/24)<br>| 5.00% | 04/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | Gilroy CA Unif Sch Dist Election 2016<br>| 4.00% | 08/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305945 |
| &nbsp;&nbsp;&nbsp;&nbsp;1360000 | Hawthorne CA Cmnty Redev Agy Successor Agy Tax Allocation Ref Sub, AGM<br>| 5.00% | 09/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1449733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | Irvine CA Unif Sch Dist Spl Tax Cmnty Facs Dist No 09-1, Ser A<br>| 5.00% | 09/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365000 | Irvine CA Unif Sch Dist Spl Tax Cmnty Facs Dist No 09-1, Ser A<br>| 5.00% | 09/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | Irvine CA Unif Sch Dist Spl Tax Cmnty Facs Dist No 09-1, Ser A<br>| 5.00% | 09/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135219 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Kern CA Cmnty Clg Dist, Ser D<br>| 5.25% | 08/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1171504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825000 | Lammersville CA Jt Unif Sch Dist Spl Tax Cmnty Facs Dist #2014-1 Impt Area #1 Mountain House Sch Facs <br>| 5.00% | 09/01/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;854503 |
| &nbsp;&nbsp;&nbsp;&nbsp;1045000 | Lammersville CA Jt Unif Sch Dist Spl Tax Cmnty Facs Dist #2014-1 Mountain House Sch Facs<br>| 4.00% | 09/01/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;945884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835000 | Live Oak CA Sch Dist Santa Cruz Cnty Ref (Pre-refunded maturity 08/01/26)<br>| 5.00% | 08/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;914367 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | Long Beach CA Bond Fin Auth Nat Gas Pur Rev, Ser A<br>| 5.25% | 11/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45625 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **California (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$190000 | Los Angeles CA Dept of Arpts Arpt Rev Prerefunded Subord Ref, Ser D, AMT (Pre-refunded maturity 11/15/31) <br>| 5.00% | 05/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$220580 |
| &nbsp;&nbsp;&nbsp;&nbsp;4000000 | Los Angeles CA Dept of Arpts Arpt Rev Ref Sub Priv Activity, Ser A, AMT<br>| 5.00% | 05/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4356597 |
| &nbsp;&nbsp;&nbsp;&nbsp;1500000 | Los Angeles CA Dept of Arpts Arpt Rev Sr Bonds Green Bond Priv Activity, Ser G, AMT<br>| 5.00% | 05/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1715943 |
| &nbsp;&nbsp;&nbsp;&nbsp;1500000 | Los Angeles CA Dept of Arpts Arpt Rev Sr Bonds Green Bond Priv Activity, Ser G, AMT<br>| 5.50% | 05/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1762296 |
| &nbsp;&nbsp;&nbsp;&nbsp;1340000 | Los Angeles CA Dept of Arpts Arpt Rev Sr Bonds Priv Activity, Ser H, AMT<br>| 5.00% | 05/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1460395 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | Los Angeles CA Dept of Arpts Arpt Rev Sub Los Angeles Intl Arpt, Ser B, AMT<br>| 5.00% | 05/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426129 |
| &nbsp;&nbsp;&nbsp;&nbsp;3310000 | Los Angeles CA Dept of Arpts Arpt Rev Unrefunded Subord Ref, Ser D, AMT<br>| 5.00% | 05/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3795003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | Marina CA Redev Agy Successor Agy Tax Allocation Hsg, Ser B<br>| 5.00% | 09/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106901 |
| &nbsp;&nbsp;&nbsp;&nbsp;1260000 | Marina Coast CA Wtr Dist Enterprise Rev, COPS<br>| 4.00% | 06/01/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1271548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325000 | Menifee CA Union Sch Dist Pub Fing Auth Spl Tax Rev Ref, Ser A<br>| 5.00% | 09/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | Menifee CA Union Sch Dist Spl Tax Cmnty Facs Dist #2011-1<br>| 5.00% | 09/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | Menifee CA Union Sch Dist Spl Tax Cmnty Facs Dist #2011-1<br>| 5.00% | 09/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145000 | Menifee CA Union Sch Dist Spl Tax Cmnty Facs Dist #2011-1<br>| 5.00% | 09/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165000 | Menifee CA Union Sch Dist Spl Tax Cmnty Facs Dist #2011-1<br>| 5.00% | 09/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178036 |
| &nbsp;&nbsp;&nbsp;&nbsp;1710000 | Menifee CA Union Sch Dist Spl Tax Cmnty Facs Dist #2011-1<br>| 5.00% | 09/01/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1772929 |
| &nbsp;&nbsp;&nbsp;&nbsp;1450000 | Menifee CA Union Sch Dist Spl Tax Cmnty Facs Dist #2011-1<br>| 5.00% | 09/01/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1491849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Oak Vly CA Hosp Dist Hlth Facs Rev Ref, Ser A<br>| 4.00% | 11/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | Rancho Cordova CA Cmnty Facs Dist Spl Tax #2018-1 Grantline 208<br>| 5.00% | 09/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | Rancho Cordova CA Cmnty Facs Dist Spl Tax Rev Grantline 208 Cmnty Fac Dt #2018-1 <br>| 4.00% | 09/01/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | River Islands CA Pub Fing Auth Spl Tax Cmnty Facs Dist #2003-1, Ser A<br>| 5.00% | 09/01/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | River Islands CA Pub Fing Auth Spl Tax Cmnty Facs Dist #2019-1 Phase 2 Pub Impts<br>| 4.00% | 09/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501422 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215000 | Riverside CA Unif Sch Dist Cmnty Facs Dt #33 Citrus Heights II Spl Tax<br>| 4.00% | 09/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | Riverside CA Unif Sch Dist Cmnty Facs Dt #33 Citrus Heights II Spl Tax<br>| 4.00% | 09/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Riverside CA Unif Sch Dist Election of 2016, Ser B<br>| 4.00% | 08/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865000 | Rocklin CA Unif Sch Dist Cmnty Facs Dist Subord, Ser 2019, BAM<br>| 5.00% | 09/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;989958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625000 | Rocklin CA Unif Sch Dist Cmnty Facs Dist Subord, Ser 2019, BAM<br>| 4.00% | 09/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;657839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | Roseville CA Spl Tax<br>| 5.00% | 09/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | Roseville CA Spl Tax<br>| 5.00% | 09/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | Roseville CA Spl Tax Svsp Westpark Federico Cmnty Facs Dt<br>No 1<br>| 4.00% | 09/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640000 | Roseville CA Spl Tax Svsp Westpark Federico Cmnty Facs Dt<br>No 1<br>| 4.00% | 09/01/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205000 | Roseville CA Spl Tax Vlg CFD #1<br>| 4.00% | 09/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | Roseville CA Spl Tax Vlg CFD #1<br>| 4.00% | 09/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310000 | Roseville CA Spl Tax Vlg CFD #1<br>| 4.00% | 09/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520000 | Roseville CA Spl Tax Vlg CFD #1<br>| 4.00% | 09/01/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;477590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710000 | Roseville CA Spl Tax Vlg CFD #1<br>| 4.00% | 09/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;637065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340000 | S San Francisco CA Pub Facs Fing Auth Lease Rev Police Station Proj, Ser A<br>| 4.00% | 06/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;374068 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **California (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$400000 | S San Francisco CA Pub Facs Fing Auth Lease Rev Police Station Proj, Ser A<br>| 4.00% | 06/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$436596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260000 | Sacramento CA Spl Tax<br>| 4.00% | 09/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220000 | Sacramento CA Spl Tax<br>| 4.00% | 09/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223644 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315000 | Sacramento CA Spl Tax<br>| 4.00% | 09/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;319333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515000 | Sacramento CA Spl Tax<br>| 4.00% | 09/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615000 | Sacramento CA Spl Tax<br>| 4.00% | 09/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;606527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Sacramento CA Transient Occupancy Tax Rev Sub Convention Ctr Complex, Ser C<br>| 5.00% | 06/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;549994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645000 | San Diego Cnty CA Ltd Rev Obligs Ref Sanford Burnham Prebys Med Discovery Institute, Ser A <br>| 5.00% | 11/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;691030 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | San Diego Cnty CA Regl Arpt Auth Arpt Rev Subord, Ser B, AMT<br>| 5.00% | 07/01/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2121326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;945000 | San Diego Cnty CA Regl Arpt Auth Sr, Ser B, AMT (Pre-refunded maturity 07/01/23)<br>| 5.00% | 07/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;953903 |
| &nbsp;&nbsp;&nbsp;&nbsp;1250000 | San Diego Cnty CA Regl Transprtn Commn Sales Tax Rev, Ser A<br>| 5.00% | 04/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1351234 |
| &nbsp;&nbsp;&nbsp;&nbsp;6000000 | San Francisco CA City & Cnty Arpts Commn Intl Arpt Rev, Ser A, AMT<br>| 5.00% | 05/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6442828 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | San Francisco CA City & Cnty Arpts Commn Intl Arpt Rev, Ser A, AMT<br>| 5.00% | 05/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1070243 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | San Francisco CA City & Cnty Arpts Commn Intl Arpt Rev, Ser E, AMT<br>| 5.00% | 05/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2130311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | San Francisco CA City & Cnty Dcnty Dev Spl Tax Dist No Mission Rock Fac & Svcs, Ser A (c)<br>| 4.00% | 09/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640717 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185000 | San Francisco City & Cnty CA Cmnty Facs Dist #2016-1<br>| 4.00% | 09/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145000 | San Francisco City & Cnty CA Cmnty Facs Dist #2016-1<br>| 4.00% | 09/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335000 | San Francisco City & Cnty CA Cmnty Facs Dist #2016-1<br>| 4.00% | 09/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245000 | San Francisco City & Cnty CA Cmnty Facs Dist #2016-1<br>| 4.00% | 09/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | San Francisco City & Cnty CA Cmnty Facs Dist #2016-1<br>| 4.00% | 09/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525000 | San Francisco City & Cnty CA Cmnty Facs Dist #2016-1<br>| 4.00% | 09/01/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494047 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | San Francisco City & Cnty CA Cmnty Facs Dist #2016-1, Ser 2021<br>| 4.00% | 09/01/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;911701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | San Francisco City & Cnty CA Redev Agy Successor Agy Tax Ref Mission Bay N Redev Proj, Ser A <br>| 5.00% | 08/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | San Luis Obispo CA Cmnty Facs Dist #2019-1 Spl Tax<br>| 4.00% | 09/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;797835 |
| &nbsp;&nbsp;&nbsp;&nbsp;2110000 | San Luis Obispo Cnty CA Fing Auth Lease Rev Multiple Capital Projs Ref, Ser A<br>| 5.25% | 11/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2412345 |
| &nbsp;&nbsp;&nbsp;&nbsp;1665000 | San Luis Obispo Cnty CA Fing Auth Lease Rev Multiple Capital Projs Ref, Ser A<br>| 5.25% | 11/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1897557 |
| &nbsp;&nbsp;&nbsp;&nbsp;4000000 | Sanger CA Fing Auth Wstwtr Rev Ref, AGM (Pre-refunded maturity 06/15/24)<br>| 5.00% | 06/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4205334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | Simi Vly CA Unif Sch Dist, Ser B<br>| 4.00% | 08/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375000 | Simi Vly CA Unif Sch Dist, Ser B<br>| 4.00% | 08/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160000 | Tahoe Truckee CA Unif Sch Dist, COPS, BAM<br>| 4.00% | 06/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255000 | Tahoe Truckee CA Unif Sch Dist, COPS, BAM<br>| 4.00% | 06/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | Temecula Vly Unif Sch Dist Fing Auth CA Spl Tax Rev, BAM<br>| 5.00% | 09/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385000 | Temescal Vly CA Wtr Dist Spl Tax Terramor Cmnty Facs Dist #4 Impt Area #1<br>| 4.00% | 09/01/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386524 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Tobacco Securitization Auth Nthrn CA Tobacco Stlmt Rev Ref Sr Bonds Sacramento Co Tobacco Secur Corp Class 1, Ser A <br>| 4.00% | 06/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000010 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Tobacco Securitization Auth Sthrn CA Tobacco Stlmt Rev Ref San Diego Co Asset Securitization Corp Class 1, Ser A <br>| 5.00% | 06/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1098668 |
| &nbsp;&nbsp;&nbsp;&nbsp;1500000 | Tobacco Securitization Auth Sthrn CA Tobacco Stlmt Rev Ref San Diego Co Tobacco Securitization Corp, Ser A, Class 1 <br>| 5.00% | 06/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1637791 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650000 | Tulare CA Loc Hlthcare Dist Ref, BAM<br>| 4.00% | 08/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;681381 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **California (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$865000 | Tustin CA Cmnty Fac Dist Spl Tax Ref #06-1 Legacy Columbus Vlgs, Ser A<br>| 5.00% | 09/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$907382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | Vacaville CA Unif Sch Dist, Ser D<br>| 4.00% | 08/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | Vacaville CA Unif Sch Dist, Ser D<br>| 4.00% | 08/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Vacaville CA Unif Sch Dist, Ser D<br>| 4.00% | 08/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512728 |
| &nbsp;&nbsp;&nbsp;&nbsp;1050000 | Victor CA Elem Sch Dist Cmnty Facs Dist Spl Tax Ref 2005-1, BAM<br>| 5.00% | 09/01/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1117627 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;144675936 |
|  | **Colorado – 6.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5000000 | Adams & Weld Cntys CO Sch Dist #27J Brighton<br>| 5.00% | 12/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5267472 |
| &nbsp;&nbsp;&nbsp;&nbsp;1125000 | Allison Vly Met Dist #2 CO Ref<br>| 4.70% | 12/01/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;941120 |
| &nbsp;&nbsp;&nbsp;&nbsp;1625000 | Bennett Ranch Met Dist #1 CO, Ser A<br>| 5.00% | 12/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1526272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | Breckenridge CO Ref, Ser B, COPS<br>| 5.00% | 12/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264611 |
| &nbsp;&nbsp;&nbsp;&nbsp;1240000 | Breckenridge CO Ref, Ser B, COPS<br>| 4.00% | 12/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1272115 |
| &nbsp;&nbsp;&nbsp;&nbsp;1340000 | Brighton Crossing Met Dist #6 CO, Ser A<br>| 5.00% | 12/01/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1170982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455000 | Buffalo Ridge CO Met Dist Ref & Impt Sr, Ser A, BAM<br>| 5.00% | 12/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | Buffalo Ridge CO Met Dist Ref & Impt Sr, Ser A, BAM<br>| 5.00% | 12/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | Cascade Ridge Met Dist CO<br>| 5.00% | 12/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;639311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | CO Eductnl & Cultural Auth Rev Ref W Ridge Acdmy Chrt Sch Proj, Ser A<br>| 5.00% | 06/01/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | CO St Bldg Excellent Schs Today, Ser O, COPS<br>| 5.00% | 03/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800568 |
| &nbsp;&nbsp;&nbsp;&nbsp;1920000 | CO St Eductnl & Cultural Facs Auth Rev Chrt Sch Loveland Classical Schs Proj (c)<br>| 5.00% | 07/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1865110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660000 | CO St Eductnl & Cultural Facs Auth Rev Ref & Impt Chrt Sch Univ Lab Bldg Corp (c)<br>| 5.00% | 12/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;689556 |
| &nbsp;&nbsp;&nbsp;&nbsp;2245000 | CO St Eductnl & Cultural Facs Auth Rev Ref & Impt Chrt Sch Univ Lab Bldg Corp (c)<br>| 5.00% | 12/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2319226 |
| &nbsp;&nbsp;&nbsp;&nbsp;4000000 | CO St Eductnl & Cultural Facs Auth Rev Ref & Impt Chrt Sch Univ Lab Bldg Corp (c)<br>| 5.00% | 12/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4081258 |
| &nbsp;&nbsp;&nbsp;&nbsp;1020000 | CO St Eductnl & Cultural Facs Auth Rev Univ Denver Proj, Ser A<br>| 4.00% | 03/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1048277 |
| &nbsp;&nbsp;&nbsp;&nbsp;1750000 | CO St Hlth Facs Auth Rev Parkview Med Ctr Proj, Ser A<br>| 4.00% | 09/01/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1518292 |
| &nbsp;&nbsp;&nbsp;&nbsp;3000000 | CO St Hlth Facs Auth Rev Ref Adventhealth Oblig, Ser A<br>| 4.00% | 11/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3023589 |
| &nbsp;&nbsp;&nbsp;&nbsp;1245000 | CO St Hlth Facs Auth Rev Ref Christian Living Neighborhoods Proj<br>| 5.00% | 01/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1207758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | CO St Hlth Facs Auth Rev Ref Commonspirit Hlth, Ser A-1<br>| 5.00% | 08/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270013 |
| &nbsp;&nbsp;&nbsp;&nbsp;4630000 | CO St Hlth Facs Auth Rev Ref Commonspirit Hlth, Ser A-1<br>| 4.00% | 08/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4575891 |
| &nbsp;&nbsp;&nbsp;&nbsp;1500000 | CO St Hlth Facs Auth Rev Ref Commonspirit Hlth, Ser A-2<br>| 5.00% | 08/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1636829 |
| &nbsp;&nbsp;&nbsp;&nbsp;3025000 | CO St Hlth Facs Auth Rev Ref Commonspirit Hlth, Ser A-2<br>| 5.00% | 08/01/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3150842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | CO St Hlth Facs Auth Rev Ref Frasier Meadows Retmnt Cmnty Proj, Ser A<br>| 5.00% | 05/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | CO St Hlth Facs Auth Rev Ref Frasier Meadows Retmnt Cmnty Proj, Ser A<br>| 5.00% | 05/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352926 |
| &nbsp;&nbsp;&nbsp;10640000 | CO St Hlth Facs Auth Rev Ref Scl Hlth Sys, Ser B<br>| 4.00% | 01/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10821945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625000 | CO St Hlth Facs Auth Rev Sr Living Ralston Creek Arvada Proj, Ser A (b) (d)<br>| 5.25% | 11/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325000 | CO St Ref, COPS<br>| 4.00% | 06/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336839 |
| &nbsp;&nbsp;&nbsp;&nbsp;2500000 | CO St, Ser A, COPS<br>| 5.00% | 12/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2974048 |
| &nbsp;&nbsp;&nbsp;&nbsp;1085000 | CO St, Ser A, COPS<br>| 4.00% | 12/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1125086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495000 | Colorado Springs CO Pikes Peak Americas Mountain Enterprise Pikes Peak<br>| 5.00% | 12/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526884 |
| &nbsp;&nbsp;&nbsp;&nbsp;1585000 | Colorado Springs CO Pikes Peak Americas Mountain Enterprise Pikes Peak<br>| 5.25% | 12/01/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1738131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180000 | Crystal Vly CO Met Dist #2 Ref, Ser A, AGM<br>| 4.00% | 12/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325000 | Crystal Vly CO Met Dist #2 Ref, Ser A, AGM<br>| 4.00% | 12/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357222 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **Colorado (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$500000 | Crystal Vly CO Met Dist #2 Ref, Ser A, AGM<br>| 4.00% | 12/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$543212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330000 | Crystal Vly CO Met Dist #2 Ref, Ser A, AGM<br>| 4.00% | 12/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Crystal Vly CO Met Dist #2 Ref, Ser A, AGM<br>| 4.00% | 12/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529262 |
| &nbsp;&nbsp;&nbsp;&nbsp;5000000 | Denver City & Cnty CO Arpt Rev Ref Sub Sys, Ser A, AMT<br>| 5.00% | 12/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5489213 |
| &nbsp;&nbsp;&nbsp;&nbsp;5000000 | Denver City & Cnty CO Arpt Rev Ref Sub Sys, Ser A, AMT<br>| 5.00% | 12/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5436962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975000 | Denver City & Cnty CO Arpt Rev Ref Sub Sys, Ser A, AMT<br>| 5.00% | 12/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1039491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | Denver City & Cnty CO Arpt Rev Ref, Ser D, AMT<br>| 5.50% | 11/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1089355 |
| &nbsp;&nbsp;&nbsp;&nbsp;1300000 | Denver City & Cnty CO Arpt Rev Ref, Ser D, AMT<br>| 5.75% | 11/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1525516 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Denver City & Cnty CO Arpt Rev, Ser A, AMT<br>| 5.00% | 11/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1088083 |
| &nbsp;&nbsp;&nbsp;&nbsp;1500000 | Denver City & Cnty CO Arpt Rev, Ser A, AMT<br>| 5.50% | 11/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1714050 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Denver CO City & Cnty Dedicated Tax Rev, Ser A-1<br>| 5.00% | 08/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1055942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | Denver CO Hlth & Hosp Auth 550 Acoma Inc, COPS<br>| 5.00% | 12/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640015 |
| &nbsp;&nbsp;&nbsp;&nbsp;1790000 | Denver CO Intl Busn Ctr CO Met Dist #1 Subord, Ser B<br>| 6.00% | 12/01/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1798301 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | Elbert & Hwy 86 CO Comml Spl Rev & Tax Supported Ref Sr Bonds, Ser A (c)<br>| 5.00% | 12/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1710279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525000 | Firestone CO Wtr Enterprise Rev Ref, BAM<br>| 4.00% | 12/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;548970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | Firestone CO Wtr Enterprise Rev Ref, BAM<br>| 4.00% | 12/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375000 | Flying Horse CO Met Dist #2 Ref, Ser A, AGM<br>| 5.00% | 12/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | Flying Horse CO Met Dist #2 Ref, Ser A, AGM<br>| 4.00% | 12/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | Flying Horse CO Met Dist #2 Ref, Ser A, AGM<br>| 4.00% | 12/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204227 |
| &nbsp;&nbsp;&nbsp;&nbsp;2735000 | Hunters Overlook Metro Dist #5 CO Sr Bonds, Ser A<br>| 5.00% | 12/01/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2541321 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Independence Met Dist #3 CO, Ser A<br>| 6.25% | 12/01/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;931056 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Jefferson Ctr CO Met Dist # 1 Spl Rev, Ser A-2<br>| 4.38% | 12/01/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;833065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860000 | Lakes at Centerra Met Dist No 2 CO Impt, Ser A<br>| 4.63% | 12/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;844449 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Lanterns Met Dist #1 CO Sr, Ser A<br>| 5.00% | 12/01/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;938204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | Larimer Weld & Boulder Cnty CO Sch Dist #R-2J Thompson<br>| 5.00% | 12/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | Lorson Ranch Met Dist #2 CO<br>| 4.00% | 12/01/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170000 | Lorson Ranch Met Dist #2 CO<br>| 5.00% | 12/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179656 |
| &nbsp;&nbsp;&nbsp;&nbsp;3260000 | Mirabelle Met Dist #2 CO Sr, Ser A<br>| 5.00% | 12/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3158158 |
| &nbsp;&nbsp;&nbsp;&nbsp;1700000 | Nexus N at DIA Met Dist CO<br>| 5.00% | 12/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1506058 |
| &nbsp;&nbsp;&nbsp;&nbsp;2460000 | Park Creek CO Met Dist Rev Ref Sr Ltd Property Tax Supported, Ser A<br>| 5.00% | 12/01/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2565228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | Park Creek CO Met Dist Rev Ref Sr Ltd Property Tax Supported, Ser A<br>| 5.00% | 12/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | Park Creek CO Met Dist Rev Ref Sr Ltd Property Tax Supported, Ser A<br>| 5.00% | 12/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155000 | Park Creek CO Met Dist Rev Ref Sr Ltd Property Tax Supported, Ser A<br>| 5.00% | 12/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162090 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | Park Creek CO Met Dist Rev Ref Sr Ltd Property Tax Supported, Ser A<br>| 5.00% | 12/01/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2063586 |
| &nbsp;&nbsp;&nbsp;&nbsp;2950000 | Park Creek CO Met Dist Rev Sr Lien, Ser A, AGM<br>| 4.00% | 12/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3132723 |
| &nbsp;&nbsp;&nbsp;&nbsp;1040000 | Park Creek CO Met Dist Rev Sr Lien, Ser A, AGM<br>| 4.00% | 12/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1077074 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420000 | Park Creek CO Met Dist Rev Sr, Ser A<br>| 5.00% | 12/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | Park Creek CO Met Dist Rev Sr, Ser A, NATL-RE<br>| 5.00% | 12/01/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31311 |
| &nbsp;&nbsp;&nbsp;&nbsp;1150000 | Peak Met Dist #1 CO, Ser A (c)<br>| 5.00% | 12/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021858 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920000 | Pinon Pines Met Dist #2 CO MDD<br>| 5.00% | 12/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890409 |
| &nbsp;&nbsp;&nbsp;&nbsp;1195000 | Pinon Pines Met Dist #2 CO MDD<br>| 5.00% | 12/01/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1080790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Prairie Ctr CO Met Dist #3 Ltd Property Tax Supported Pri Ref, Ser A (c)<br>| 4.13% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;496171 |
| &nbsp;&nbsp;&nbsp;&nbsp;1500000 | Prairie Ctr CO Met Dist #3 Ltd Property Tax Supported Pri Ref, Ser A (c)<br>| 5.00% | 12/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1499903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | Prairie Ctr Met Dist #7 CO<br>| 4.88% | 12/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615013 |
| &nbsp;&nbsp;&nbsp;&nbsp;5235000 | Rampart Range CO Met Dist #1 Ltd Tax Supported & Spl Rev Ref & Impt, AGM <br>| 5.00% | 12/01/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5681638 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Ridgeline Vista Met Dist CO, Ser A<br>| 5.25% | 12/01/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980461 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **Colorado (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;$2500000 | Riverwalk Metro Dist #2 CO, Ser A<br>| 5.00% | 12/01/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2304807 |
| &nbsp;&nbsp;&nbsp;&nbsp;2015000 | S Suburban Park & Recreation Dist CO, COPS<br>| 4.00% | 12/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2080159 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Sagebrush Farm Met Dist #1 CO Sr Bonds, Ser A<br>| 6.38% | 12/01/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550000 | Serenity Ridge CO Met Dist #2 Ref, Ser A (Pre-refunded maturity 12/01/23) (b)<br>| 5.13% | 12/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;577488 |
| &nbsp;&nbsp;&nbsp;&nbsp;1500000 | Sky Ranch Cmnty Auth Brd CO Sr Bonds, Ser A<br>| 5.75% | 12/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1440042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | Sterling Hills CO W Met Dist Ref<br>| 5.00% | 12/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191702 |
| &nbsp;&nbsp;&nbsp;&nbsp;1800000 | Takoda CO Met Dist Ref<br>| 6.00% | 12/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1983667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825000 | Third Creek Met Dist #1 CO, Ser A-1<br>| 4.50% | 12/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;718277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825000 | Third Creek Met Dist #1 CO, Ser A-1<br>| 4.50% | 12/01/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;673017 |
| &nbsp;&nbsp;&nbsp;&nbsp;1400000 | Thompson Crossing Met Dist #4 CO Ref<br>| 5.00% | 12/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1360019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Trails at Crowfoot Met Dist #3 CO Sr Ser, Ser A<br>| 5.00% | 12/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;487197 |
| &nbsp;&nbsp;&nbsp;&nbsp;1210000 | Transport Met Dist #3 CO MDD, Ser 2021-A-1<br>| 5.00% | 12/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;993705 |
| &nbsp;&nbsp;&nbsp;&nbsp;1500000 | Westerly Met Dist #4 CO Sr, Ser A<br>| 5.00% | 12/01/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1334053 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;132153086 |
|  | **Connecticut – 2.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | CT St Hlth & Eductnl Facs Auth Rev Covenant Home Inc, Ser B<br>| 5.00% | 12/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2039682 |
| &nbsp;&nbsp;&nbsp;&nbsp;1250000 | CT St Hlth & Eductnl Facs Auth Rev Fairfield Univ, Ser Q-1<br>| 5.00% | 07/01/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1285924 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | CT St Hlth & Eductnl Facs Auth Rev Quinnipiac Univ Ref, Ser M<br>| 5.00% | 07/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1050116 |
| &nbsp;&nbsp;&nbsp;&nbsp;5130000 | CT St Hlth & Eductnl Facs Auth Rev Ref Fairfield Univ, Ser R<br>| 4.00% | 07/01/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5072362 |
| &nbsp;&nbsp;&nbsp;&nbsp;1030000 | CT St Hlth & Eductnl Facs Auth Rev Ref Fairfield Univ, Ser R<br>| 4.00% | 07/01/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991699 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | CT St Hlth & Eductnl Facs Auth Rev Ref Fairfield Univ, Ser S<br>| 5.00% | 07/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1081817 |
| &nbsp;&nbsp;&nbsp;&nbsp;2250000 | CT St Hlth & Eductnl Facs Auth Rev Ref Quinnipiac Univ, Ser L<br>| 5.00% | 07/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2366166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | CT St Hlth & Eductnl Facs Auth Rev Ref Quinnipiac Univ, Ser L<br>| 4.00% | 07/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | CT St Hlth & Eductnl Facs Auth Rev, Ser A<br>| 5.00% | 07/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;554400 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | CT St Hlth & Eductnl Facs Auth Rev, Ser A<br>| 5.00% | 07/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1095729 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | CT St Hlth & Eductnl Facs Auth Rev, Ser A<br>| 4.00% | 07/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1014414 |
| &nbsp;&nbsp;&nbsp;&nbsp;4700000 | CT St Hlth & Eductnl Facs Auth Rev, Ser A<br>| 4.00% | 07/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4745294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | CT St Hsg Fin Auth Hsg Fin Mtge Prog Ref, Subser A-1<br>| 3.65% | 11/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296340 |
| &nbsp;&nbsp;&nbsp;&nbsp;1765000 | CT St Muni Elec Energy Coop Pwr Sply Sys Rev Ref, Ser A<br>| 5.00% | 01/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1974695 |
| &nbsp;&nbsp;&nbsp;&nbsp;5490000 | CT St Spl Tax Oblig Rev, Ser A<br>| 5.00% | 05/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6206397 |
| &nbsp;&nbsp;&nbsp;&nbsp;1445000 | CT St, Ser A<br>| 5.00% | 04/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1601391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | CT St, Ser A<br>| 4.00% | 01/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526197 |
| &nbsp;&nbsp;&nbsp;&nbsp;5000000 | CT St, Ser A<br>| 4.00% | 01/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5200798 |
| &nbsp;&nbsp;&nbsp;&nbsp;5145000 | CT St, Ser A<br>| 4.00% | 04/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5323893 |
| &nbsp;&nbsp;&nbsp;&nbsp;5695000 | CT St, Ser A<br>| 4.00% | 01/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5863422 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560000 | CT St, Ser E<br>| 4.00% | 10/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579026 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625000 | Hamden CT, BAM<br>| 6.00% | 08/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;732232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Harbor Point CT Infra Impt Dist Spl Oblig Rev Ref Harbor Point Proj Ltd (c)<br>| 5.00% | 04/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580000 | New Haven CT Ref, Ser B, AGM<br>| 5.00% | 02/01/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580000 |
| &nbsp;&nbsp;&nbsp;&nbsp;1500000 | Univ of Connecticut CT, Ser A<br>| 5.00% | 11/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1658830 |
| &nbsp;&nbsp;&nbsp;&nbsp;3730000 | Univ of Connecticut CT, Ser A<br>| 5.00% | 02/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4118434 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56663334 |
|  | **Delaware – 0.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325000 | DE St Hlth Facs Auth Rev Beebe Med Ctr<br>| 5.00% | 06/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346227 |
| &nbsp;&nbsp;&nbsp;&nbsp;4335000 | DE St Hlth Facs Auth Rev Ref Christiana Hlth Care Sys Oblig Grp, Ser A<br>| 5.00% | 10/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4811899 |
| &nbsp;&nbsp;&nbsp;&nbsp;3000000 | DE St Hlth Facs Auth Rev Ref Christiana Hlth Care Sys Oblig Grp, Ser A<br>| 5.00% | 10/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3260372 |
| &nbsp;&nbsp;&nbsp;&nbsp;2076000 | Millsboro DE Spl Oblig Ref Plantation Lakes Spl Dev Dist (c)<br>| 5.00% | 07/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2098815 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10517313 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **District of Columbia – 0.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;$1745000 | Dist of Columbia Wtr & Swr Auth Pub Util Rev Green Bond, Ser A<br>| 5.00% | 10/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1909149 |
| &nbsp;&nbsp;&nbsp;&nbsp;5100000 | Met WA DC Arpts Auth Arpt Sys Rev Ref, Ser A, NATL-RE, AMT<br>| 5.00% | 10/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5229461 |
| &nbsp;&nbsp;&nbsp;&nbsp;3175000 | Met Washington DC Arpts Auth Arpt Sys Rev Ref, Ser A, AMT<br>| 5.00% | 10/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3570916 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Washington DC Met Area Transit Auth Gross Rev<br>| 5.00% | 07/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1092885 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885000 | Washington DC Met Area Transit Auth Gross Rev Ref, Ser A-1<br>| 5.00% | 07/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;976204 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12778615 |
|  | **Florida – 6.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380000 | Academical Vlg CDD FL Spl Assmnt Rev CDD<br>| 2.88% | 05/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367422 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Academical Vlg CDD FL Spl Assmnt Rev CDD<br>| 3.63% | 05/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;819567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545000 | Alachua Cnty FL Hlth Facs Auth Ref Oak Hammock at The Univ of FL Inc Proj<br>| 4.00% | 10/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;464910 |
| &nbsp;&nbsp;&nbsp;&nbsp;2945000 | Alachua Cnty FL Hlth Facs Auth Ref Shands Teaching Hosp & Clinics Inc, Ser B-1 <br>| 5.00% | 12/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3123687 |
| &nbsp;&nbsp;&nbsp;&nbsp;1250000 | Berry Bay CDD FL Spl Assmnt Rev Assmnt Area 1<br>| 4.00% | 05/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;997038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | Bexley CDD FL Spl Assmnt Rev<br>| 4.10% | 05/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | Brookstone CDD FL Spl Assmnt Rev CDD (e)<br>| 3.88% | 11/01/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94748 |
| &nbsp;&nbsp;&nbsp;&nbsp;2725000 | Broward Cnty FL Arpt Sys Rev, Ser A, AMT<br>| 5.00% | 10/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2928000 |
| &nbsp;&nbsp;&nbsp;&nbsp;1450000 | Broward Cnty FL Convention Ctr Hotel Rev First Tier<br>| 5.00% | 01/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1742663 |
| &nbsp;&nbsp;&nbsp;&nbsp;1350000 | Broward Cnty FL Port Facs Rev Ref Subord Bond, Ser D, AMT<br>| 5.00% | 09/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1472119 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | Coco Palms FL CDD Spl Assmnt<br>| 4.50% | 05/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1996197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Creekview CDD FL Spl Assmnt Rev Phase I Proj<br>| 3.88% | 05/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489431 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Cross Creek N CDD FL Spl Assmnt<br>| 4.50% | 05/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;874966 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Cypress Ml Cmnty Dev Dist FL Spl Assmt CDD Assmnt Area Two Proj<br>| 4.00% | 06/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;871050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420000 | Edgewater E CDD FL Spl Assmnt Rev Assmnt Area One<br>| 2.50% | 05/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396408 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Edgewater E CDD FL Spl Assmnt Rev Assmnt Area One<br>| 4.00% | 05/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;798233 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Edgewater E CDD FL Spl Assmnt Rev Assmnt Area Two<br>| 4.00% | 05/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;792560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180000 | Epperson N CDD FL Capital Impt Rev Assmnt Area #2<br>| 2.50% | 05/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169705 |
| &nbsp;&nbsp;&nbsp;&nbsp;1250000 | Epperson N CDD FL Capital Impt Rev Assmnt Area Three, Ser A<br>| 3.40% | 11/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;968636 |
| &nbsp;&nbsp;&nbsp;&nbsp;1250000 | Fallschase Cmnty Dev Dist FL Spl Assmnt<br>| 3.38% | 05/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;981907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | FL St Dev Fin Corp Eductnl Facs Rev River City Science Acdmy Projs, Ser A<br>| 4.00% | 07/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202064 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155000 | FL St Dev Fin Corp Eductnl Facs Rev River City Science Acdmy Projs, Ser A<br>| 4.00% | 07/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310000 | FL St Dev Fin Corp Eductnl Facs Rev River City Science Acdmy Projs, Ser A<br>| 4.00% | 07/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303091 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 | FL St Dev Fin Corp Eductnl Facs Rev River City Science Acdmy Projs, Ser A<br>| 4.00% | 07/01/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | FL St Dev Fin Corp Eductnl Facs Rev River City Science Acdmy Projs, Ser A<br>| 4.00% | 07/01/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725000 | FL St Govtl Util Auth Rev Ref, AGM<br>| 4.00% | 10/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825000 | FL St Govtl Util Auth Rev Ref, AGM<br>| 4.00% | 10/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;846534 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Fort Pierce FL Utils Auth Ref, Ser A, AGM<br>| 5.00% | 10/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1164312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180000 | Harmony FL CDD Capital Impt Rev Ref, Ser 2015<br>| 4.75% | 05/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180674 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365000 | Heritage Harbour FL N CDD Capital Impt Rev Ref Sr Lien, Ser A-1, AGM<br>| 5.00% | 05/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;383618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495000 | Hollywood Beach FL Cmnty Dev Dist Rev CDD Ref Pub Pkg Fac Proj, Ser I<br>| 5.00% | 10/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;518676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545000 | Hollywood Beach FL Cmnty Dev Dist Rev CDD Ref Pub Pkg Fac Proj, Ser I<br>| 5.00% | 10/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;587009 |
| &nbsp;&nbsp;&nbsp;&nbsp;2970000 | Hollywood Beach FL Cmnty Dev Dist Rev CDD Ref Pub Pkg Fac Proj, Ser I<br>| 4.00% | 10/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3013831 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **Florida (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$125000 | Hollywood FL Cmnty Redev Agy Redev Rev Ref<br>| 5.00% | 03/01/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$125224 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Jacksonville FL Hlthcare Facs Rev Ref Baptist Hlth<br>| 5.00% | 08/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1085818 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Jacksonville FL Spl Rev Ref Spl Rev, Ser B<br>| 5.00% | 10/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1092465 |
| &nbsp;&nbsp;&nbsp;&nbsp;6000000 | Jea FL Elec Sys Rev Ref Subord, Ser A<br>| 4.00% | 10/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6280594 |
| &nbsp;&nbsp;&nbsp;&nbsp;2980000 | Jea FL Wtr & Swr Rev Ref, Ser A<br>| 4.00% | 10/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3029613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480000 | Jea FL Wtr & Swr Rev Subord Ref, Ser A<br>| 4.00% | 10/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Jea FL Wtr & Swr Rev Subord Ref, Ser A<br>| 4.00% | 10/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Jea FL Wtr & Swr Rev Subord Ref, Ser A<br>| 4.00% | 10/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;508775 |
| &nbsp;&nbsp;&nbsp;&nbsp;1230000 | Lakeland FL Hosp Sys Rev Lakeland Regl Hlth (Pre-refunded maturity 11/15/24)<br>| 5.00% | 11/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1286927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155000 | Lakewood Ranch FL Stewardship Dist Spl Assmnt Rev Ref Country Club E Proj, AGM<br>| 4.50% | 05/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162638 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460000 | Lee Cnty FL Indl Dev Auth Hlthcr Facs Rev Shell Point Oblig Grp<br>| 4.00% | 11/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443250 |
| &nbsp;&nbsp;&nbsp;&nbsp;1115000 | Lee Cnty FL Indl Dev Auth Hlthcr Facs Rev Shell Point Oblig Grp<br>| 4.00% | 11/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1066254 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Lee Cnty FL Indl Dev Auth Shell Point/Waterside Hlth Proj<br>| 5.00% | 11/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1013129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | Lee Cnty FL Loc Optional Gas Tax Rev<br>| 5.00% | 08/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331579 |
| &nbsp;&nbsp;&nbsp;&nbsp;1250000 | Lee Cnty FL Loc Optional Gas Tax Rev<br>| 5.00% | 08/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1377293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | Miami FL Spl Oblg Prerefunded Ref (Pre-refunded maturity 03/01/23) (c)<br>| 5.00% | 03/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400799 |
| &nbsp;&nbsp;&nbsp;&nbsp;1265000 | Miami FL Spl Oblg Ref Street & Sidewalk Impt Prog, Ser A, AGM (c)<br>| 5.00% | 01/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1391994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | Miami FL Spl Oblg Unrefunded Ref (c)<br>| 5.00% | 03/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | Miami World Ctr CDD FL Spl Assmnt<br>| 4.00% | 11/01/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275000 | Miami World Ctr CDD FL Spl Assmnt<br>| 4.75% | 11/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279578 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | Miami World Ctr CDD FL Spl Assmnt<br>| 5.13% | 11/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2013568 |
| &nbsp;&nbsp;&nbsp;&nbsp;6000000 | Miami-Dade Cnty FL Aviation Rev Ref<br>| 5.00% | 10/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6235985 |
| &nbsp;&nbsp;&nbsp;&nbsp;2575000 | Miami-Dade Cnty FL Aviation Rev Ref, Ser A, AMT<br>| 5.00% | 10/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2636937 |
| &nbsp;&nbsp;&nbsp;&nbsp;2625000 | Miami-Dade Cnty FL Aviation Rev Ref, Ser B, AMT<br>| 5.00% | 10/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2739306 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | Miami-Dade Cnty FL Eductnl Facs Auth Rev Ref Univ Miami, Ser A<br>| 5.00% | 04/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2091365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445000 | Miami-Dade Cnty FL Indl Dev Auth Doral Acdmy Proj<br>| 5.00% | 01/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550000 | Miami-Dade Cnty FL Indl Dev Auth Doral Acdmy Proj<br>| 5.00% | 01/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575115 |
| &nbsp;&nbsp;&nbsp;&nbsp;1210000 | Miami-Dade Cnty FL Indl Dev Auth Doral Acdmy Proj<br>| 5.00% | 01/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1233912 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | Miami-Dade Cnty FL Seaport Rev Ref Sr Bonds, Ser A, AMT (f)<br>| 5.00% | 10/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2152665 |
| &nbsp;&nbsp;&nbsp;&nbsp;1080000 | Miami-Dade Cnty FL Spl Oblig Sub Ref<br>| 5.00% | 10/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1150881 |
| &nbsp;&nbsp;&nbsp;&nbsp;2130000 | Miami-Dade Cnty FL Wtr & Swr Rev Sys, Ser A<br>| 4.00% | 10/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2153424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | N Park Isle Cmnty Dev Dist FL Spl Assmnt Rev Assmnt Area One<br>| 3.63% | 05/01/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | N Park Isle Cmnty Dev Dist FL Spl Assmnt Rev Assmnt Area One<br>| 4.00% | 05/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;777725 |
| &nbsp;&nbsp;&nbsp;&nbsp;1545000 | N Park Isle Cmnty Dev Dist FL Spl Assmnt Rev Assmnt Area One<br>| 4.50% | 05/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1440948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780000 | N Sumter Cnty FL Util Dependent Dist Util Rev Sumter Wtr Conservation Auth Proj, AGM<br>| 4.00% | 10/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;787667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355000 | Nthrn Palm Beach Cnty FL Impt Dist<br>| 5.00% | 08/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145000 | Orange Cnty FL Hlth Facs Auth Rev Orlando Hlth Oblig Grp, Ser A (f)<br>| 5.00% | 10/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Orange Cnty FL Hlth Facs Auth Rev Orlando Hlth Oblig Grp, Ser A (f)<br>| 5.00% | 10/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558424 |
| &nbsp;&nbsp;&nbsp;&nbsp;1500000 | Orange Cnty FL Hlth Facs Auth Rev Orlando Hlth Oblig Grp, Ser A (f)<br>| 5.00% | 10/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1658848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680000 | Orange Cnty FL Hlth Facs Auth Rev Presbyterian Retmnt Cmntys Proj<br>| 5.00% | 08/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695356 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **Florida (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$345000 | Orange Cnty FL Hlth Facs Auth Rev Presbyterian Retmnt Cmntys Proj<br>| 5.00% | 08/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$352423 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | Orange Cnty FL Hlth Facs Auth Rev Ref Orlando Hlth Inc, Ser A<br>| 5.00% | 10/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2104469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825000 | Orange Cnty FL Hlth Facs Auth Rev Ref Presbyterian Retmnt Cmntys (Forward refunding maturity 08/01/23) <br>| 5.00% | 08/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;857454 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Orange Cnty FL Hlth Facs Auth Rev Ref Presbyterian Retmnt Cmntys (Forward refunding maturity 08/01/23) <br>| 5.00% | 08/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1039338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | Palm Beach Cnty FL Hlth Facs Auth Hosp Rev Baptist Hlth S FL Oblig Grp<br>| 5.00% | 08/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | Panama City Beach FL Capital Impt Rev Front Beach Road Proj<br>| 5.00% | 11/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685000 | Panama City Beach FL Capital Impt Rev Front Beach Road Proj<br>| 5.00% | 11/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;798623 |
| &nbsp;&nbsp;&nbsp;&nbsp;1880000 | Pasco Cnty FL Sch Brd, Ser C, AGM, COPS<br>| 5.00% | 08/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2181077 |
| &nbsp;&nbsp;&nbsp;&nbsp;6500000 | Polk Cnty FL Indl Dev Auth Mineral Dev LLC Secondary Phosphate Tailings Recovery Proj (c)<br>| 5.88% | 01/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6629254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85000 | Rhodine Road N CDD FL Spl Assmnt<br>| 3.50% | 05/01/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815000 | Rhodine Road N CDD FL Spl Assmnt<br>| 4.50% | 05/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;759225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Ridge at Apopka CDD Fl Spl Assmnt <br>| 5.38% | 05/01/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | Rivington CDD FL Spl Assmnt Rev 2022 Assmnt Area<br>| 3.25% | 05/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305000 | Rivington CDD FL Spl Assmnt Rev Assmnt Area<br>| 2.88% | 05/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205000 | Saint Johns Cnty FL Indl Dev Auth Sr Living Rev Ref Vicar's Landing Proj, Ser A<br>| 4.00% | 12/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189753 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Saint Johns Cnty FL Indl Dev Auth Sr Living Rev Ref Vicar's Landing Proj, Ser A<br>| 4.00% | 12/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433139 |
| &nbsp;&nbsp;&nbsp;&nbsp;1175000 | Saint Johns Cnty FL Indl Dev Auth Sr Living Rev Ref Vicar's Landing Proj, Ser A<br>| 4.00% | 12/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950535 |
| &nbsp;&nbsp;&nbsp;10000000 | Saint Lucie Cnty FL Sol Wst Disp Ref FL Pwr & Light Co Pj (a)<br>| 1.40% | 05/01/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335000 | San Simeon Cmnty Dev Dist FL Spl Assmnt (c)<br>| 4.13% | 06/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296633 |
| &nbsp;&nbsp;&nbsp;&nbsp;1745000 | Sarasota Natl FL CDD Spl Assmnt Ref<br>| 4.00% | 05/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1546671 |
| &nbsp;&nbsp;&nbsp;&nbsp;1615000 | Sawyers Landing CDD FL Spl Assmnt Rev<br>| 4.13% | 05/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1408412 |
| &nbsp;&nbsp;&nbsp;&nbsp;3635000 | Sawyers Landing CDD FL Spl Assmnt Rev<br>| 4.25% | 05/01/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2979843 |
| &nbsp;&nbsp;&nbsp;&nbsp;2250000 | SE Overtown Park W Cmnty Redev Agy FL Tax, Ser A-1 (c)<br>| 5.00% | 03/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2294791 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210000 | Shell Point Cmnty Dev Dist FL Spl Assmnt (c)<br>| 4.00% | 11/01/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209230 |
| &nbsp;&nbsp;&nbsp;&nbsp;2730000 | Stoneybrook FL S CDD Spl Assmnt Rev Assmnt Area Two, A Proj<br>| 5.13% | 11/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2800045 |
| &nbsp;&nbsp;&nbsp;&nbsp;1285000 | Summer Woods CDD FL Spl Assmnt Area Two 2020 Proj<br>| 4.00% | 05/01/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1031619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Tallahassee FL Energy Sys Rev Energy Sys<br>| 5.00% | 10/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;521113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | Tampa FL Hosp Rev H Lee Moffitt Cancer Ctr Proj, Ser B<br>| 5.00% | 07/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120000 | Tampa FL Hosp Rev H Lee Moffitt Cancer Ctr Proj, Ser B<br>| 5.00% | 07/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | Tampa FL Hosp Rev H Lee Moffitt Cancer Ctr Proj, Ser B<br>| 5.00% | 07/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | Tampa FL Hosp Rev H Lee Moffitt Cancer Ctr Proj, Ser B<br>| 5.00% | 07/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | Tampa FL Hosp Rev H Lee Moffitt Cancer Ctr Proj, Ser B<br>| 5.00% | 07/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278421 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455000 | Tampa FL Hosp Rev H Lee Moffitt Cancer Ctr Proj, Ser B<br>| 5.00% | 07/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501328 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | Tampa FL Hosp Rev H Lee Moffitt Cancer Ctr Proj, Ser B<br>| 4.00% | 07/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405727 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | Tampa FL Hosp Rev H Lee Moffitt Cancer Ctr Proj, Ser B<br>| 4.00% | 07/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230000 | Tampa FL Rev Ref The Univ of Tampa Proj, Ser A<br>| 5.00% | 04/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255574 |
| &nbsp;&nbsp;&nbsp;&nbsp;5035000 | Tampa FL Rev Ref The Univ of Tampa Proj, Ser A<br>| 5.00% | 04/01/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5333200 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Tern Bay CDD FL Spl Assmnt<br>| 3.13% | 06/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;949912 |
| &nbsp;&nbsp;&nbsp;&nbsp;1250000 | Tern Bay CDD FL Spl Assmnt<br>| 4.00% | 06/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1070869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90000 | Timber Creek CDD FL Spl Assmnt Rev (c)<br>| 4.13% | 11/01/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | UCF Stadium Corp FL Rev Ref, Ser A<br>| 5.00% | 03/01/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | Villamar CDD FL Spl Assmnt (b)<br>| 3.75% | 05/01/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | Vlg FL CDD #6 Spl Assmnt Rev Ref<br>| 4.00% | 05/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Volusia Cnty FL Eductnl Fac Auth Ref Embry Riddle Aeronautical Univ Inc Proj, Ser A<br>| 4.00% | 10/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;506498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835000 | Westside FL CDD Spl Assmnt Rev Ref (c)<br>| 4.10% | 05/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;764186 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **Florida (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$210000 | WildBlue CDD FL Spl Assmnt (c)<br>| 3.50% | 06/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$207779 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;134190607 |
|  | **Georgia – 3.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8980000 | Atlanta GA Arpt Passenger Fac Charge Rev Arpt Rev Subord, Ser D, AMT<br>| 4.00% | 07/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9040668 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Atlanta GA Arpt Rev Ref, Ser C, AMT<br>| 4.00% | 07/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;997806 |
| &nbsp;&nbsp;&nbsp;&nbsp;3000000 | Atlanta GA Arpt Rev, Ser A<br>| 5.00% | 07/01/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3375044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650000 | Atlanta GA Tax Allocation Ref Eastside Proj (Pre-refunded maturity 01/01/26)<br>| 5.00% | 01/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700086 |
| &nbsp;&nbsp;&nbsp;&nbsp;1300000 | Brookhaven Dev Auth GA Children's Hlthcare of Atlanta, Ser A<br>| 5.00% | 07/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1469066 |
| &nbsp;&nbsp;&nbsp;&nbsp;6000000 | Burke Cnty GA Dev Auth Poll Control Rev Var GA Pwr Co Vogtle, Ser 1 (a)<br>| 1.45% | 07/01/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;6700000 | Burke Cnty GA Dev Auth Poll Control Rev Var Ref GA Pwr Co Plant Vogtle Proj (a)<br>| 1.75% | 11/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6700000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625000 | De Kalb GA Priv Hosp Auth Children's Hlthcare of Atlanta, Ser B<br>| 4.00% | 07/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;647545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Etowah GA Wtr & Swr Auth Rev Ref, BAM<br>| 4.00% | 03/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | Etowah GA Wtr & Swr Auth Rev Ref, BAM<br>| 4.00% | 03/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | Etowah GA Wtr & Swr Auth Rev Ref, BAM<br>| 4.00% | 03/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;411943 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Fulton Cnty GA Dev Auth Rev Ref Children's Hlthcare of Atlanta, Ser C<br>| 5.00% | 07/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1130051 |
| &nbsp;&nbsp;&nbsp;&nbsp;2775000 | Fulton Cnty GA Rsdl Care Facs Elderly Auth Retmnt Fac Rev Ref Lenbrook Sq Fdtn Inc<br>| 5.00% | 07/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2792169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | GA St Hgr Edu Facs Auth Rev Ref USG Real Estate Fdtn II LLC Projs<br>| 5.00% | 06/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;839801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890000 | GA St Hgr Edu Facs Auth Rev Ref USG Real Estate Fdtn II LLC Projs<br>| 5.00% | 06/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;988381 |
| &nbsp;&nbsp;&nbsp;&nbsp;2525000 | GA St Hsg & Fin Auth Rev SF Mtge, Ser C<br>| 3.25% | 12/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2528118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | Gainesville & Hall Cnty GA Hosp Auth Ref NE GA Hlth Sys Inc Proj, Ser A<br>| 5.00% | 02/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42243 |
| &nbsp;&nbsp;&nbsp;&nbsp;5800000 | Gainesville & Hall Cnty GA Hosp Auth Ref NE GA Hlth Sys Inc Proj, Ser A<br>| 4.00% | 02/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5846639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | Geo L Smith II GA Congress Ctr Auth Convention Ctr Hotel First Tier, Ser A<br>| 4.00% | 01/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234827 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Geo L Smith II GA Congress Ctr Auth Convention Ctr Hotel First Tier, Ser A<br>| 4.00% | 01/01/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;839373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | Main Street Nat Gas Inc GA Gas Rev, Ser A<br>| 5.50% | 09/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177149 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Main Street Nat Gas Inc GA Gas Sply Rev, Ser A<br>| 5.00% | 05/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1052211 |
| &nbsp;&nbsp;&nbsp;&nbsp;2630000 | Main Street Nat Gas Inc GA Gas Sply Rev, Ser A<br>| 5.00% | 05/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2801721 |
| &nbsp;&nbsp;&nbsp;&nbsp;2500000 | Main Street Nat Gas Inc GA Gas Sply Rev, Ser A (Mandatory put 06/01/30) (f)<br>| 5.00% | 06/01/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2654996 |
| &nbsp;&nbsp;&nbsp;&nbsp;1625000 | Main Street Nat Gas Inc GA Gas Sply Rev, Ser A (Mandatory put 09/01/27)<br>| 4.00% | 07/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1656922 |
| &nbsp;&nbsp;&nbsp;14500000 | Main Street Nat Gas Inc GA Gas Sply Rev, Ser A (Mandatory put 12/01/29)<br>| 4.00% | 09/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14532763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | Muni Elec Auth of GA Plant Vogtle Units 3 & 4 Proj J Bonds, Ser A, AGM<br>| 5.00% | 07/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670222 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | Muni Elec Auth of GA Ref Plant Vogtle Units 3 & 4 Proj J, Ser A, AGM<br>| 4.00% | 01/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320000 | Muni Elec Auth of GA Ref Plant Vogtle Units 3 & 4 Proj J, Ser A, AGM<br>| 4.00% | 01/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275000 | Priv Clgs & Univs Auth GA Ref Mercer Univ Proj<br>| 5.00% | 10/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311128 |
| &nbsp;&nbsp;&nbsp;&nbsp;1175000 | Priv Clgs & Univs Auth GA Savannah Clg of Art & Design Proj (Pre-refunded maturity 04/01/24) <br>| 5.00% | 04/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1209333 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **Georgia (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$500000 | Priv Clgs & Univs Auth GA Savannah Clg of Art & Design Proj (Pre-refunded maturity 04/01/24) <br>| 5.00% | 04/01/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$514610 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71727268 |
|  | **Guam – 0.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Guam Govt Wtrwks Auth Wtr & Wstwtr Sys Rev, Ser A<br>| 5.00% | 01/01/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1029397 |
| &nbsp;&nbsp;&nbsp;&nbsp;5000000 | Guam Intl Arpt Auth Prerefunded Gen, Ser C, AMT, AGM (Pre-refunded maturity 10/01/23)<br>| 6.13% | 10/01/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5107647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | Guam Port Auth Port Rev, Ser B, AMT<br>| 5.00% | 07/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325515 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6462559 |
|  | **Hawaii – 0.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3460000 | HI St Arpts Sys Rev, Ser A, AMT<br>| 5.00% | 07/01/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3621069 |
| &nbsp;&nbsp;&nbsp;&nbsp;1750000 | HI St Dept of Budget & Fin Spl Purp Rev Ref Hawaiian Elec Co Inc, Ser A, AMT <br>| 3.10% | 05/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1732457 |
| &nbsp;&nbsp;&nbsp;&nbsp;4980000 | HI St, Ser FG<br>| 4.00% | 10/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5207083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455000 | Honolulu City & Cnty HI Wstwtr Sys Rev Ref First Bond Resolution, Ser B<br>| 5.00% | 07/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503895 |
| &nbsp;&nbsp;&nbsp;&nbsp;2450000 | Honolulu City & Cnty HI Wstwtr Sys Rev Ref Sr First Bd Resolution, Ser B<br>| 4.00% | 07/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2535714 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13600218 |
|  | **Idaho – 0.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | ID St Hlth Facs Auth Rev Ref Madison Memorial Hosp<br>| 5.00% | 09/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1016986 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | ID St Hlth Facs Auth Rev Ref St Lukes Hlth Sys Proj, Ser A<br>| 5.00% | 03/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2162849 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3179835 |
|  | **Illinois – 3.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1210000 | Bolingbrook IL Ref, Ser A<br>| 4.00% | 01/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1212277 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Bolingbrook IL Ref, Ser A, AGM<br>| 5.00% | 01/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1115012 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Bolingbrook IL Ref, Ser A, AGM<br>| 5.00% | 01/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1114738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Chicago IL Brd of Edu Ref Dedicated, Ser C<br>| 5.00% | 12/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;521515 |
| &nbsp;&nbsp;&nbsp;&nbsp;3000000 | Chicago IL Brd of Edu Ref, Ser B<br>| 5.00% | 12/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3206062 |
| &nbsp;&nbsp;&nbsp;&nbsp;2600000 | Chicago IL Chicago Wks, Ser A<br>| 5.00% | 01/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2791233 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | Chicago IL Chicago Wks, Ser A<br>| 5.50% | 01/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2132748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305000 | Chicago IL O'Hare Intl Arpt Rev Ref Gen Sr Lien, Ser A, AMT<br>| 5.00% | 01/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325000 | Chicago IL O'Hare Intl Arpt Rev Ref Sr Lien O'hare Intl Arpt, Ser C, AMT<br>| 5.00% | 01/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369521 |
| &nbsp;&nbsp;&nbsp;&nbsp;3070000 | Chicago IL O'Hare Intl Arpt Rev Ref Sr Lien, Ser A, AMT<br>| 5.00% | 01/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3303916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | Chicago IL O'Hare Intl Arpt Rev Ref Sr Lien, Ser A, AMT<br>| 5.00% | 01/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;642530 |
| &nbsp;&nbsp;&nbsp;&nbsp;1500000 | Chicago IL O'Hare Intl Arpt Rev Ref, Ser A, AMT<br>| 5.00% | 01/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1550756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610000 | Chicago IL O'Hare Intl Arpt Rev, Ser C, AMT<br>| 5.00% | 01/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 | Chicago IL Ref 2003B Remk<br>| 5.25% | 01/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;461501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185000 | Chicago IL Ref Proj, Ser A<br>| 5.00% | 01/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186290 |
| &nbsp;&nbsp;&nbsp;&nbsp;1155000 | Chicago IL Ref Proj, Ser A<br>| 5.00% | 01/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1157537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Chicago IL Ref, Ser A<br>| 5.63% | 01/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Chicago IL Ref, Ser C<br>| 5.00% | 01/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645000 | Chicago IL Ref, Ser C<br>| 5.00% | 01/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;668108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270000 | Chicago IL Ref, Ser C<br>| 5.00% | 01/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145000 | Chicago IL Ref, Ser C, CABS<br>| &nbsp;&nbsp;&nbsp;(g) | 01/01/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | Chicago IL Ref, Ser C, CABS<br>| &nbsp;&nbsp;&nbsp;(g) | 01/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116808 |
| &nbsp;&nbsp;&nbsp;&nbsp;3500000 | Chicago IL Wtrwks Rev 2nd Lien Remk, BAM<br>| 5.00% | 11/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3775494 |
| &nbsp;&nbsp;&nbsp;&nbsp;2060000 | Chicago IL, Ser A<br>| 5.00% | 01/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2155735 |
| &nbsp;&nbsp;&nbsp;&nbsp;2425000 | DuPage & Cook Cntys IL Twp High Sch Dist #86 Hinsdale<br>| 4.00% | 01/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2523763 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **Illinois (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$505000 | Hampshire IL Spl Svc Area #14 Spl Tax Ref Lakewood Crossing, BAM<br>| 4.00% | 03/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$520637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170000 | Hillside IL Tax Incr Rev Ref<br>| 5.00% | 01/01/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305000 | IL St<br>| 5.00% | 05/01/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306654 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240000 | IL St<br>| 5.00% | 05/01/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246304 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | IL St<br>| 5.00% | 06/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325000 | IL St Fin Auth Acad Facs Lease Rev Univ of Illinois at Urbana-Champaign Proj, Ser A<br>| 5.00% | 10/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850000 | IL St Fin Auth Acad Facs Lease Rev Univ of Illinois at Urbana-Champaign Proj, Ser A<br>| 5.00% | 10/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;937657 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;970000 | IL St Fin Auth Acad Facs Lease Rev Univ of Illinois at Urbana-Champaign Proj, Ser A<br>| 5.00% | 10/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1057227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | IL St Fin Auth Acad Facs Lease Rev Univ of Illinois at Urbana-Champaign Proj, Ser A<br>| 5.00% | 10/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323875 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | IL St Fin Auth Rev Centegra Hlth Sys, Ser A (Pre-refunded maturity 09/01/24)<br>| 5.00% | 09/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1040053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | IL St Fin Auth Rev Loc Govt Prog E Prairie Sch Dist #73 Proj, BAM<br>| 5.00% | 12/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565696 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;845000 | IL St Fin Auth Rev Ref Mercy Hlth Sys Oblig Grp<br>| 5.00% | 12/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;887340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000 | IL St Fin Auth Rev Ref Presbyterian Homes Oblig Grp, Ser A<br>| 5.00% | 11/01/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35864 |
| &nbsp;&nbsp;&nbsp;&nbsp;1010000 | IL St Fin Auth Rev Sthrn IL Hlthcare, Ser A<br>| 5.00% | 03/01/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1037463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | IL St Fin Auth Stdt Hsg & Acad Fac Rev Chf Chicago LLC Univ IL Chicago Proj, Ser A <br>| 5.00% | 02/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | IL St Fin Auth Stdt Hsg & Acad Fac Rev Chf Chicago LLC Univ IL Chicago Proj, Ser A <br>| 5.00% | 02/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465000 | IL St Fin Auth Stdt Hsg & Acad Fac Rev Chf Chicago LLC Univ IL Chicago Proj, Ser A <br>| 5.00% | 02/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320000 | IL St Ref<br>| 4.00% | 08/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115000 | IL St Ref, Ser B<br>| 5.00% | 10/01/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118942 |
| &nbsp;&nbsp;&nbsp;&nbsp;2405000 | IL St Sales Tax Rev Junior Oblig, Ser A, BAM<br>| 3.00% | 06/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2308067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | IL St Sales Tax Rev Ref Junior Oblig Build IL Bonds, Ser C<br>| 5.00% | 06/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108375 |
| &nbsp;&nbsp;&nbsp;&nbsp;1500000 | IL St, Ser A<br>| 5.00% | 12/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1601688 |
| &nbsp;&nbsp;&nbsp;&nbsp;2500000 | IL St, Ser A<br>| 5.50% | 03/01/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2721994 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | IL St, Ser B<br>| 4.00% | 12/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1959224 |
| &nbsp;&nbsp;&nbsp;&nbsp;6200000 | IL St, Ser C<br>| 5.00% | 11/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6624373 |
| &nbsp;&nbsp;&nbsp;&nbsp;1250000 | IL St, Ser D<br>| 5.00% | 11/01/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1270451 |
| &nbsp;&nbsp;&nbsp;&nbsp;1005000 | IL St, Ser D<br>| 5.00% | 11/01/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1041011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325000 | IL St, Ser D<br>| 5.00% | 11/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346687 |
| &nbsp;&nbsp;&nbsp;&nbsp;1500000 | Lincolnwood IL Tax Incr Allocation Rev Nts Dist 1860 Dev Proj, Ser A, COPS (c)<br>| 4.82% | 01/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1392292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Macon Cnty IL Sch Dist #61 Ref, Ser C, AGM<br>| 4.00% | 01/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528969 |
| &nbsp;&nbsp;&nbsp;&nbsp;1175000 | Madison Bond Etc Cntys IL Cmnty Unit Sch Dist #5, Ser B, AGM<br>| 5.50% | 02/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1329996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | Madison Bond Etc Cntys IL Cmnty Unit Sch Dist #5, Ser B, AGM<br>| 5.50% | 02/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;789146 |
| &nbsp;&nbsp;&nbsp;&nbsp;3635000 | Morton Grove-Niles Wtr Commn IL Wtr, Ser A<br>| 5.00% | 12/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3966777 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405000 | Peoria IL Ref, Ser C, AGM<br>| 4.00% | 01/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437718 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Piatt Champaign & De Witt Cntys IL Cmnty Unit Sch Dist #25 Ref, Ser B, BAM<br>| 5.00% | 11/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1090023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145000 | Railsplitter IL Tobacco Stlmt Auth<br>| 5.00% | 06/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645000 | Rockford IL Ref Wtrwks Sys, Ser B, BAM<br>| 5.00% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;707682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | Romeoville IL Rev Ref Lewis Univ Proj<br>| 5.00% | 10/01/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | Romeoville IL Rev Ref Lewis Univ Proj<br>| 5.00% | 10/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127239 |
| &nbsp;&nbsp;&nbsp;&nbsp;2740000 | Schaumburg IL Ref<br>| 4.00% | 12/01/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2768175 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **Illinois (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;$1560000 | Woodford McLean & Livingston Cntys IL Cmnty United Sch Dist, Ser B, BAM<br>| 4.00% | 11/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1623753 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73592859 |
|  | **Indiana – 1.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2270000 | Avon IN Cmnty Sch Bldg Corp<br>| 5.00% | 01/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2522956 |
| &nbsp;&nbsp;&nbsp;&nbsp;3080000 | Borden Henryville Multi Sch Bldg Corp IN<br>| 5.00% | 07/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3454222 |
| &nbsp;&nbsp;&nbsp;&nbsp;1920000 | Carmel IN Loc Pub Impt Bond Bank Multipurpose, Ser 2016<br>| 5.00% | 07/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2073576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | Fort Wayne IN Mf Hsg Rev Silver Birch at Cook Road (c)<br>| 5.30% | 01/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225377 |
| &nbsp;&nbsp;&nbsp;&nbsp;3000000 | IN Fin Auth Midwestern Disaster Relief Rev OH Vly Elec Corp Proj Remk, Ser A<br>| 4.25% | 11/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2983649 |
| &nbsp;&nbsp;&nbsp;&nbsp;1500000 | IN St Fin Auth Envrnmntl Rev Ref Var Duke Energy IN Inc Proj Remk, Ser A-1, AMT (Mandatory put 06/01/32) <br>| 4.50% | 05/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1547092 |
| &nbsp;&nbsp;&nbsp;&nbsp;4000000 | IN St Fin Auth Envrnmntl Rev Var Ref Fulcrum Centerpoint LLC Proj, AMT (Mandatory put 11/15/23)<br>| 4.50% | 12/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4005109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930000 | IN St Fin Auth Hosp Rev Goshen Hlth, Ser A<br>| 4.00% | 11/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;942761 |
| &nbsp;&nbsp;&nbsp;&nbsp;1330000 | IN St Fin Auth Hosp Rev Goshen Hlth, Ser A<br>| 4.00% | 11/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1338665 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | IN St Fin Auth Hosp Rev Reid Hlth, AGM<br>| 5.00% | 01/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1105366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | IN St Fin Auth Rev Eductnl Facs Rock Creek Cmnty Acdmy Proj, Ser A (e)<br>| 5.25% | 07/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710167 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | IN St Fin Auth Rev Eductnl Facs Rock Creek Cmnty Acdmy Proj, Ser A (e)<br>| 5.88% | 07/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1014963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460000 | IN St Fin Auth Rev Greencroft Oblig Grp, Ser A (Forward refunding maturity 11/15/23)<br>| 5.75% | 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | IN St Fin Auth Rev Greencroft Oblig Grp, Ser A (Forward refunding maturity 11/15/23)<br>| 6.00% | 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | IN St Fin Auth Rev Marian Univ Proj, Ser A<br>| 5.00% | 09/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;538165 |
| &nbsp;&nbsp;&nbsp;&nbsp;1500000 | IN St Fin Auth Rev Priv Activity OH River Bridges E End Xing P3 Proj, Ser A (Pre-refunded maturity 07/01/23) <br>| 5.00% | 07/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1513385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275000 | IN St Fin Auth Rev Ref Rev Cmnty Fdtn of NW IN<br>| 5.00% | 09/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550000 | NW Hendricks IN Multi-Bldg Corp<br>| 4.00% | 07/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;589442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | NW Hendricks IN Multi-Bldg Corp<br>| 4.00% | 07/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | NW Hendricks IN Multi-Bldg Corp<br>| 4.00% | 07/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;532939 |
| &nbsp;&nbsp;&nbsp;&nbsp;1690000 | Plainfield IN Mf Hsg Rev Glasswater Creek Proj<br>| 5.38% | 09/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1420563 |
| &nbsp;&nbsp;&nbsp;&nbsp;1500000 | Whiting IN Envrnmntl Facs Rev Ref BP Products N America Inc Proj, Ser A, AMT (Mandatory put 06/05/26) <br>| 5.00% | 12/01/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1554007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330000 | Zionsville IN Cmnty Schs Bldgcorp<br>| 4.00% | 07/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349875 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29669693 |
|  | **Iowa – 0.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Altoona IA, Ser A, COPS, BAM<br>| 5.00% | 06/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1130116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720000 | Altoona IA, Ser A, COPS, BAM<br>| 5.00% | 06/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;812365 |
| &nbsp;&nbsp;&nbsp;&nbsp;2385000 | Coralville IA Ref, Ser A<br>| 5.00% | 05/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2450488 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | IA St Fin Auth Midwstrn Disaster Area Rev Ref IA Fertilizer Company Proj (Mandatory put 12/01/42)<br>| 5.00% | 12/01/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2045091 |
| &nbsp;&nbsp;&nbsp;&nbsp;8190000 | Pefa Inc IA Gas Proj Rev (Mandatory put 09/01/26)<br>| 5.00% | 09/01/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8503846 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | Tobacco Stlmt Auth IA Tobacco Stlmt Rev Ref Sr, Ser A-2,<br>Class 1<br>| 5.00% | 06/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | Tobacco Stlmt Auth IA Tobacco Stlmt Rev Ref Sr, Ser A-2,<br>Class 1<br>| 4.00% | 06/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | Tobacco Stlmt Auth IA Tobacco Stlmt Rev Ref Sr, Ser A-2,<br>Class 1<br>| 4.00% | 06/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197507 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **Iowa (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$300000 | Tobacco Stlmt Auth IA Tobacco Stlmt Rev Ref Sr, Ser A-2,<br>Class 1<br>| 4.00% | 06/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$293989 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15957312 |
|  | **Kansas – 0.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875000 | Goddard KS Sales Tax Spl Oblg Rev Ref Olympic Park Star Bond Proj<br>| 3.60% | 06/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;834147 |
| &nbsp;&nbsp;&nbsp;&nbsp;4210000 | Johnson & Miami Cntys KS Unif Sch Dist #230 Spring Hill, Ser A<br>| 5.00% | 09/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4694160 |
| &nbsp;&nbsp;&nbsp;&nbsp;1240000 | KS Muni Energy Agy Pwr Proj Rev Dogwood Proj, Ser A, BAM<br>| 5.00% | 04/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1339228 |
| &nbsp;&nbsp;&nbsp;&nbsp;1470000 | KS Muni Energy Agy Pwr Proj Rev Dogwood Proj, Ser A, BAM<br>| 5.00% | 04/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1587166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Leavenworth Cnty KS Unif Sch Dist #464 Ref, Ser A<br>| 4.00% | 09/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625000 | Leavenworth Cnty KS Unif Sch Dist #464 Ref, Ser A<br>| 4.00% | 09/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575000 | Leavenworth Cnty KS Unif Sch Dist #464 Ref, Ser A<br>| 4.00% | 09/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;608037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Leavenworth Cnty KS Unif Sch Dist #464 Ref, Ser A<br>| 4.00% | 09/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525000 | Leavenworth Cnty KS Unif Sch Dist #464 Ref, Ser A<br>| 4.00% | 09/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | Leavenworth Cnty KS Unif Sch Dist #464 Ref, Ser A<br>| 4.00% | 09/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;619700 |
| &nbsp;&nbsp;&nbsp;&nbsp;1045000 | Lenexa KS Hlthcare Fac Rev Ref Lakeview Vlg Inc, Ser A<br>| 5.00% | 05/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1062961 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | Wyandotte Cnty Kansas City KS Unif Govt Util Sys Rev Impt, Ser A<br>| 5.00% | 09/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2076171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475000 | Wyandotte Cnty Kansas City KS Unif Govt Util Sys Rev Ref & Impt, Ser A<br>| 5.00% | 09/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491476 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | Wyandotte Cnty KS Kansas City Unif Govt Spl Oblg Rev Ref Vlg E Proj Areas 2B 3 5 (c)<br>| 5.75% | 09/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1949889 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | Wyandotte Cnty KS Unif Sch Dist #202, Ser A, AGM (Pre-refunded maturity 09/01/27)<br>| 5.00% | 09/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168429 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17694043 |
|  | **Kentucky – 2.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2350000 | Bowling Green KY Wtr & Swr Rev, AGM<br>| 4.00% | 06/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2445765 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Estrn KY Univ Gen Recpts, Ser A<br>| 5.00% | 04/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1051106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Hazard KY Hlthcare Rev Ref Appalachian Regl Hlthcare Proj<br>| 4.00% | 07/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;492987 |
| &nbsp;&nbsp;&nbsp;&nbsp;3500000 | KY Bond Dev Corp Indl Bldg Rev KY Communications Network Auth Proj, BAM<br>| 5.00% | 09/01/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3812152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145000 | KY St Econ Dev Fin Auth Baptist Hlthcare Sys, Ser B<br>| 5.00% | 08/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275000 | KY St Econ Dev Fin Auth Baptist Hlthcare Sys, Ser B<br>| 5.00% | 08/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291190 |
| &nbsp;&nbsp;&nbsp;&nbsp;3000000 | KY St Econ Dev Fin Auth Baptist Hlthcare Sys, Ser B<br>| 5.00% | 08/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3128655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160000 | KY St Econ Dev Fin Auth Hlth Sys Rev Norton Hlthcare Inc, Ser B, CABS, NATL-RE<br>| &nbsp;&nbsp;&nbsp;(g) | 10/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625000 | KY St Econ Dev Fin Auth Ref Commonspirit Hlth, Ser A-1<br>| 4.00% | 08/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;622399 |
| &nbsp;&nbsp;&nbsp;&nbsp;3795000 | KY St Econ Dev Fin Auth Ref Commonspirit Hlth, Ser A-1<br>| 5.00% | 08/01/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3952874 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730000 | KY St Econ Dev Fin Auth Ref Commonspirit Hlth, Ser A-2<br>| 5.00% | 08/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;788439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;895000 | KY St Econ Dev Fin Auth Ref Commonspirit Hlth, Ser A-2<br>| 5.00% | 08/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;957472 |
| &nbsp;&nbsp;&nbsp;&nbsp;5620000 | KY St Office Building Proj, Ser A, COPS<br>| 5.00% | 04/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6124560 |
| &nbsp;&nbsp;&nbsp;&nbsp;5000000 | KY St Property & Bldgs Commn Revs Proj #124, Ser A, AGM<br>| 5.00% | 11/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5620035 |
| &nbsp;&nbsp;&nbsp;&nbsp;5395000 | KY St Pub Energy Auth Gas Sply Rev Gas Sply, Ser B (Mandatory put 01/01/25)<br>| 4.00% | 01/01/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5395515 |
| &nbsp;&nbsp;&nbsp;&nbsp;6300000 | KY St Pub Energy Auth Gas Sply Rev Var, Ser C (Mandatory put 02/01/28)<br>| 4.00% | 02/01/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6320352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440000 | KY St Univ Proj, COPS, BAM<br>| 4.00% | 11/01/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Louisville & Jefferson Cnty KY Met Govt Hlth Sys Rev Norton Hlthcare Inc, Ser A <br>| 4.00% | 10/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486570 |
| &nbsp;&nbsp;&nbsp;&nbsp;3315000 | Louisville & Jefferson Cnty KY Met Govt Hlth Sys Rev Ref Norton Hlthcare Inc, Ser A <br>| 5.00% | 10/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3540635 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **Kentucky (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;$1120000 | Louisville & Jefferson Cnty KY Met Govt Hlth Sys Rev Ref Norton Hlthcare Inc, Ser A <br>| 5.00% | 10/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1194787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290000 | Louisville & Jefferson Cnty KY Met Swr Dist Swr & Drain Sys Green Bond, Ser A <br>| 5.00% | 05/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337875 |
| &nbsp;&nbsp;&nbsp;&nbsp;4000000 | Meade Cnty KY Indl Bldg Rev Var Nucor Steel Brandenburg Proj Green Bond, Ser B-1 (a)<br>| 2.00% | 08/01/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | Warren Cnty KY Hosp Rev Ref Bowling Green Warren Cnty Cmnty Hosp Corp<br>| 5.00% | 04/01/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45191 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51352939 |
|  | **Louisiana – 1.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1260000 | E Baton Rouge Parish LA Capital Impts Dist MOVEBR Sales, Ser T<br>| 4.00% | 08/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1334885 |
| &nbsp;&nbsp;&nbsp;&nbsp;1520000 | E Baton Rouge Parish LA Capital Impts Dist MOVEBR Sales, Ser T<br>| 4.00% | 08/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1597353 |
| &nbsp;&nbsp;&nbsp;&nbsp;2530000 | E Baton Rouge Parish LA Capital Impts Dist MOVEBR Sales, Ser T<br>| 4.00% | 08/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2572545 |
| &nbsp;&nbsp;&nbsp;&nbsp;6500000 | E Baton Rouge Parish LA Swr Commn Rev Ref, Ser A<br>| 4.00% | 02/01/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6488952 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | LA Pub Facs Auth Rev Ref Ochsner Clinic Fdtn Proj<br>| 5.00% | 05/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1059188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | LA St Loc Govt Envrnmntl Facs & Cmnty Dev Auth Rev Ascension Psh Courthouse Proj<br>| 5.00% | 11/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272881 |
| &nbsp;&nbsp;&nbsp;&nbsp;1700000 | LA St Loc Govt Envrnmntl Facs & Cmnty Dev Auth Rev Ref Hosp Womans Fdtn Proj, Ser A <br>| 5.00% | 10/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1792643 |
| &nbsp;&nbsp;&nbsp;&nbsp;1500000 | LA St Loc Govt Envrnmntl Facs & Cmnty Dev Auth Rev Ref Westlake Chemical Corp Proj Remk <br>| 3.50% | 11/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1434037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380000 | LA Stadium & Exposition Dist LA Ref Sr, Ser A<br>| 5.00% | 07/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | New Orleans LA Aviation Brd Gen Arpt N Term, Ser B, AMT<br>| 5.00% | 01/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;803168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | New Orleans LA Aviation Brd Gen Arpt N Term, Ser B, AMT<br>| 5.00% | 01/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;803010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | New Orleans LA Aviation Brd Gen Arpt N Term, Ser B, AMT<br>| 5.00% | 01/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213949 |
| &nbsp;&nbsp;&nbsp;&nbsp;1305000 | New Orleans LA Wtr Rev (Pre-refunded maturity 12/01/25)<br>| 5.00% | 12/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400513 |
| &nbsp;&nbsp;&nbsp;&nbsp;1050000 | New Orleans LA Wtr Rev Ref (Pre-refunded maturity 12/01/24)<br>| 5.00% | 12/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100882 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Saint John the Baptist Parish LA Rev Var Ref Marathon Oil Corp Proj Remk, Subser 2017B-1 (Mandatory put 07/01/24) <br>| 2.13% | 06/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;979965 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625000 | Shreveport LA Wtr & Swr Rev Junior Lien, Ser A, AGM<br>| 5.00% | 12/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705675 |
| &nbsp;&nbsp;&nbsp;&nbsp;1650000 | Shreveport LA Wtr & Swr Rev, Ser B, BAM<br>| 5.00% | 12/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1722994 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24665292 |
|  | **Maine – 0.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | ME St Fin Auth Green Bond Go Lab Madison, LLC Proj, AMT (c)<br>| 8.00% | 12/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;702030 |
|  | **Maryland – 1.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | Baltimore Cnty MD<br>| 5.00% | 03/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2331759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565000 | Baltimore Cnty MD Rev Ref Oak Crest Vlg Inc Fac<br>| 4.00% | 01/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650000 | Baltimore Cnty MD Rev Ref Oak Crest Vlg Inc Fac<br>| 4.00% | 01/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;617937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | Baltimore Cnty MD Rev Ref Riderwood Vlg Inc Proj<br>| 4.00% | 01/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685000 | Baltimore Cnty MD Rev Ref Riderwood Vlg Inc Proj<br>| 4.00% | 01/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650000 | Baltimore Cnty MD Rev Ref Riderwood Vlg Inc Proj<br>| 4.00% | 01/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | Baltimore Cnty MD Rev Ref Riderwood Vlg Inc Proj<br>| 4.00% | 01/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701392 |
| &nbsp;&nbsp;&nbsp;&nbsp;2020000 | Baltimore MD Spl Oblig Ref E Baltimore Rsrch Park Proj, Ser A<br>| 5.00% | 09/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2048693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | Baltimore MD Spl Oblig Ref Sr Lien Harbor Point Proj, Ser A (c)<br>| 2.75% | 06/01/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | Baltimore MD Spl Oblig Ref Sr Lien Harbor Point Proj, Ser A (c)<br>| 2.80% | 06/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135000 | Baltimore MD Spl Oblig Ref Sr Lien Harbor Point Proj, Ser A (c)<br>| 2.85% | 06/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128197 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Gaithersburg MD Econ Dev Rev Ref Proj Asbury MD Oblig Grp, Ser A<br>| 4.50% | 01/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1006972 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **Maryland (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$550000 | Harford Cnty MD Spl Oblg Ref Beechtree Estates Proj<br>| 4.00% | 07/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$567413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | MD St Econ Dev Corp Stdt Hsg Rev Bowie St Univ Proj<br>| 4.00% | 07/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480543 |
| &nbsp;&nbsp;&nbsp;&nbsp;1650000 | MD St Econ Dev Corp Stdt Hsg Rev Bowie St Univ Proj<br>| 5.00% | 07/01/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1691591 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | MD St Econ Dev Corp Stdt Hsg Rev Ref Sr Univ MD Proj<br>| 4.00% | 07/01/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600719 |
| &nbsp;&nbsp;&nbsp;&nbsp;2490000 | MD St Econ Dev Corp Stdt Hsg Rev Ref Univ MD Clg Park Projs, AGM<br>| 5.00% | 06/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2628982 |
| &nbsp;&nbsp;&nbsp;&nbsp;5000000 | MD St First Ser<br>| 4.00% | 06/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5111543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | MD St Hlth & Hgr Eductnl Facs Auth Rev Adventist Hlthcare Oblig Grp, Ser A<br>| 5.50% | 01/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529703 |
| &nbsp;&nbsp;&nbsp;&nbsp;5000000 | MD St Hlth & Hgr Eductnl Facs Auth Rev Johns Hopkins Hlth, Ser C (Pre-refunded maturity 05/15/23) <br>| 5.00% | 05/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5035683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | MD St Hlth & Hgr Eductnl Facs Auth Rev Ref Anne Arundel Hlth Sys, Ser A<br>| 5.00% | 07/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;861163 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | MD St Hlth & Hgr Eductnl Facs Auth Rev Ref Anne Arundel Hlth Sys, Ser A<br>| 5.00% | 07/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1074695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | MD St Hlth & Hgr Eductnl Facs Auth Rev Ref Stevenson Univ Proj, Ser A<br>| 4.00% | 06/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | MD St Hlth & Hgr Eductnl Facs Auth Rev Ref Stevenson Univ Proj, Ser A<br>| 4.00% | 06/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226046 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | MD St Hlth & Hgr Eductnl Facs Auth Rev Ref Stevenson Univ Proj, Ser A<br>| 4.00% | 06/01/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700420 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29327359 |
|  | **Massachusetts – 0.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | MA St Bay Transprtn Auth Sales Tax Rev Ref Sr, Ser B<br>| 5.25% | 07/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2335041 |
| &nbsp;&nbsp;&nbsp;&nbsp;2155000 | MA St Bay Transprtn Auth Sales Tax Rev Sr, Ser A<br>| 5.00% | 07/01/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2239844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | MA St Dev Fin Agy Rev Linden Ponds Inc Fac (c)<br>| 5.00% | 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266612 |
| &nbsp;&nbsp;&nbsp;&nbsp;3920000 | MA St Port Auth Ref, Ser A, AMT<br>| 5.00% | 07/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4342303 |
| &nbsp;&nbsp;&nbsp;&nbsp;1555000 | MA St Port Auth, Ser C, AMT<br>| 5.00% | 07/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1727245 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | MA St Transprtn Fund Rev Rail Enhancement Prog, Ser A<br>| 5.00% | 06/01/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2074267 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12985312 |
|  | **Michigan – 3.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240000 | Detroit MI Downtown Dev Auth Tax Incr Rev Ref Catalyst Dev Proj, Ser A, AGM<br>| 5.00% | 07/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Detroit MI Downtown Dev Auth Tax Incr Rev Ref Catalyst Dev Proj, Ser A, AGM<br>| 5.00% | 07/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | Genesee Cnty MI Swr Disp Sys Rev, Ser A, BAM<br>| 4.00% | 06/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | Genesee Cnty MI Swr Disp Sys Rev, Ser A, BAM<br>| 4.00% | 06/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155000 | Genesee Cnty MI Swr Disp Sys Rev, Ser A, BAM<br>| 4.00% | 06/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | Genesee Cnty MI Swr Disp Sys Rev, Ser A, BAM<br>| 4.00% | 06/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | Genesee Cnty MI Swr Disp Sys Rev, Ser A, BAM<br>| 4.00% | 06/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735000 | Grand Traverse Cnty MI Hosp Fin Auth Munson Hlthcare Oblig Grp, Ser A<br>| 5.00% | 07/01/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;767154 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Great Lakes MI Wtr Auth Wtr Sply Sys Rev Ref Sr Lien, Ser C<br>| 5.00% | 07/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1084272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | Kalamazoo MI Econ Dev Corp Heritage Cmnty of Kalamazoo Revel Creek Proj Temps 60, Ser B2<br>| 2.63% | 05/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57473 |
| &nbsp;&nbsp;&nbsp;&nbsp;1195000 | Lake Shore MI Pub Schs, Ser I<br>| 5.00% | 11/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1356659 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Marquette MI Brd of Light & Pwr Elec Util Sys Rev Ref, Ser A<br>| 5.00% | 07/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1079432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890000 | MI St Fin Auth Ltd Oblig Rev Ref Clg for Creative Studies Proj<br>| 5.00% | 12/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;899095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325000 | MI St Fin Auth Rev Loc Govt Loan Prog Great Lakes Wtr Auth Ref, Ser C<br>| 5.00% | 07/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341301 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | MI St Fin Auth Rev Multi Modal Mclaren Hlth Care, Ser A<br>| 4.00% | 02/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1929248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375000 | MI St Fin Auth Rev Prerefunded CHE Trinity Hlth Credit Grp Ref, Ser 2013-5 (Pre-refunded maturity 12/01/29) <br>| 4.00% | 12/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416423 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **Michigan (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;$2460000 | MI St Fin Auth Rev Ref 2nd Lien Great Lakes Wtr Auth, Ser C-7, NATL-RE<br>| 5.00% | 07/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2540871 |
| &nbsp;&nbsp;&nbsp;&nbsp;1070000 | MI St Fin Auth Rev Ref Beaumont Spectrum Consolidation, Ser A<br>| 5.00% | 04/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1280091 |
| &nbsp;&nbsp;&nbsp;&nbsp;2155000 | MI St Fin Auth Rev Ref CHE Trinity Hlth Credit Grp Remk, Ser 2013-4<br>| 5.00% | 12/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2343206 |
| &nbsp;&nbsp;&nbsp;&nbsp;4050000 | MI St Fin Auth Rev Ref Henry Ford Hlth Sys<br>| 4.00% | 11/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4121407 |
| &nbsp;&nbsp;&nbsp;&nbsp;2565000 | MI St Fin Auth Rev Ref Henry Ford Hlth Sys<br>| 4.00% | 11/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2600494 |
| &nbsp;&nbsp;&nbsp;&nbsp;7905000 | MI St Fin Auth Rev Ref Henry Ford Hlth Sys<br>| 5.00% | 11/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8171991 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | MI St Fin Auth Rev Ref Hosp McLaren Hlth Care, Ser B<br>| 5.00% | 05/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2085721 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | MI St Fin Auth Rev Ref Loc Govt Loan Prog Great Lakes Wtr Auth, Ser D-1<br>| 5.00% | 07/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1043018 |
| &nbsp;&nbsp;&nbsp;&nbsp;7000000 | MI St Fin Auth Rev Ref Loc Govt Loan Prog Great Lakes Wtr Auth, Ser D4<br>| 5.00% | 07/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7207450 |
| &nbsp;&nbsp;&nbsp;&nbsp;2405000 | MI St Fin Auth Rev Ref Loc Govt Loan Prog Great Lakes Wtr Auth, Ser D4<br>| 5.00% | 07/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2468182 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | MI St Fin Auth Rev Ref Loc Govt Loan Prog, Ser F1<br>| 3.88% | 10/01/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125120 |
| &nbsp;&nbsp;&nbsp;&nbsp;4000000 | MI St Fin Auth Rev Ref Sr Lien Great Lakes Wtr Auth, Ser C-6<br>| 5.00% | 07/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4112367 |
| &nbsp;&nbsp;&nbsp;&nbsp;2500000 | MI St Fin Auth Rev Ref Sr Turbo, Ser A-2<br>| 5.00% | 06/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2598304 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | MI St Hosp Fin Auth Ref Ascension Hlth Sr Cr Grp Remk, Ser F-4<br>| 5.00% | 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1045493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565000 | MI St Hosp Fin Auth Ref Ascension Sr Credit Remk, Ser F7<br>| 5.00% | 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;582912 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | MI St Univ Revs Brd of Trustees, Ser B<br>| 5.00% | 02/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1137412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650000 | Midland MI Pub Schs Sch Bldg & Site, Ser II<br>| 5.00% | 05/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;738856 |
| &nbsp;&nbsp;&nbsp;&nbsp;3000000 | Royal Oak MI Hosp Fin Auth Ref Beaumont Hlth Credit Grp, Ser D (Pre-refunded maturity 03/01/24) <br>| 5.00% | 09/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3082895 |
| &nbsp;&nbsp;&nbsp;&nbsp;4500000 | Univ of Michigan MI, Ser A<br>| 3.00% | 04/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4503757 |
| &nbsp;&nbsp;&nbsp;&nbsp;1990000 | Utica MI Cmnty Schs Ref Sch Bldg & Site<br>| 5.00% | 05/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2154668 |
| &nbsp;&nbsp;&nbsp;&nbsp;2800000 | Wayne Cnty MI Arpt Auth Rev Ref, Ser F, AMT<br>| 5.00% | 12/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2960715 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66452935 |
|  | **Minnesota – 0.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370000 | Duluth MN Indep Sch Dist #709 Ref, Ser B, COPS<br>| 5.00% | 02/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403735 |
| &nbsp;&nbsp;&nbsp;&nbsp;2500000 | MN Muni Gas Agy Cmdy Sply Rev, Ser A<br>| 4.00% | 12/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2550046 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580000 | Saint Paul MN Hsg & Redev Auth Hlthcare Fac Rev Ref HealthPartners Oblig Grp, Ser A <br>| 5.00% | 07/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607475 |
| &nbsp;&nbsp;&nbsp;&nbsp;4000000 | Saint Paul MN Hsg & Redev Auth Hlthcare Fac Rev Ref HealthPartners Oblig Grp, Ser A <br>| 5.00% | 07/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4177961 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7739217 |
|  | **Mississippi – 0.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5000000 | MS St Hosp Equipment & Facs Auth Baptist Memorial Hlth Care, Ser A<br>| 5.00% | 09/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5067203 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | MS St, Ser A (Pre-refunded maturity 11/01/26)<br>| 5.00% | 11/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2205697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | W Rankin MS Util Auth Rev, AGM (Pre-refunded maturity 01/01/25)<br>| 5.00% | 01/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525382 |
| &nbsp;&nbsp;&nbsp;&nbsp;1215000 | W Rankin MS Util Auth Rev, AGM (Pre-refunded maturity 01/01/25)<br>| 5.00% | 01/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1276678 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9074960 |
|  | **Missouri – 1.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285000 | Bridgeton MO Spl Oblig Rev Ref, Ser A<br>| 4.00% | 12/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | Bridgeton MO Spl Oblig Rev Ref, Ser A<br>| 4.00% | 12/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322759 |
| &nbsp;&nbsp;&nbsp;&nbsp;2150000 | Jackson Cnty MO Consol Sch Dist #4<br>| 4.00% | 03/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2266615 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | Jackson Cnty MO Consol Sch Dist #4<br>| 5.00% | 03/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2166550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | Jackson Cnty MO Spl Oblig Ref Truman Sports Complex Proj<br>| 5.00% | 12/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;726374 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **Missouri (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;$1670000 | Joplin MO Indl Dev Auth Hlth Facs Rev Ref Freeman Hlth Sys<br>| 5.00% | 02/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1708771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220000 | Lincoln Cnty MO Pub Wtr Sply Dist #1 Ref, COPS<br>| 4.00% | 07/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415000 | Lincoln Cnty MO Pub Wtr Sply Dist #1 Ref, COPS<br>| 4.00% | 07/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434304 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Lincoln Cnty MO Pub Wtr Sply Dist #1 Ref, COPS<br>| 4.00% | 07/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1009677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440000 | MO St Hlth & Eductnl Facs Auth Hlth Facs Rev Bethesda Hlth Grp Inc Ref<br>| 4.00% | 08/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410000 | MO St Hlth & Eductnl Facs Auth Hlth Facs Rev Bethesda Hlth Grp Inc Ref<br>| 4.00% | 08/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345076 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | MO St Hlth & Eductnl Facs Auth Hlth Facs Rev Ref Mosaic Hlth Sys, Ser A<br>| 5.00% | 02/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;829741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710000 | MO St Hlth & Eductnl Facs Auth Hlth Facs Rev Ref Mosaic Hlth Sys, Ser A<br>| 4.00% | 02/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;716893 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160000 | MO St Hlth & Eductnl Facs Auth Lutheran Sr Svcs<br>| 5.00% | 02/01/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245000 | MO St Hlth & Eductnl Facs Auth Lutheran Sr Svcs<br>| 5.00% | 02/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246609 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | MO St Hlth & Eductnl Facs Auth Lutheran Sr Svcs Projs<br>| 4.00% | 02/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;979388 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650000 | MO St Hlth & Eductnl Facs Auth Lutheran Sr Svcs Projs<br>| 4.00% | 02/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;632198 |
| &nbsp;&nbsp;&nbsp;&nbsp;1960000 | MO St Hlth & Eductnl Facs Auth Lutheran Sr Svcs Projs<br>| 4.00% | 02/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1891995 |
| &nbsp;&nbsp;&nbsp;&nbsp;2120000 | MO St Hlth & Eductnl Facs Auth Lutheran Sr Svcs Projs<br>| 4.00% | 02/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2005757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555000 | MO St Hlth & Eductnl Facs Auth Lutheran Sr Svcs Projs<br>| 4.00% | 02/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160000 | MO St Hlth & Eductnl Facs Auth Med Rsrch Lutheran Svcs, Ser A<br>| 5.00% | 02/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162578 |
| &nbsp;&nbsp;&nbsp;&nbsp;1925000 | MO St Hlth & Eductnl Facs Auth Var St Louis Univ, Ser B-1 (a)<br>| 1.25% | 10/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1925000 |
| &nbsp;&nbsp;&nbsp;&nbsp;1040000 | Saint Louis MO Muni Fin Corp Sales Tax Leasehold Rev Ref<br>| 5.00% | 02/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1107971 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21088122 |
|  | **Montana – 0.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740000 | MT St Fac Fin Auth Rev Ref<br>| 5.00% | 02/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;768110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130000 | MT St Fac Fin Auth Rev Ref<br>| 5.00% | 02/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139095 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | MT St Fac Fin Auth Rev Ref Scl Hlth Sys, Ser A<br>| 4.00% | 01/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2088479 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2995684 |
|  | **Nebraska – 0.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5870000 | Centrl Plains Energy Proj NE Gas Proj Rev Ref Proj #3, Ser A<br>| 5.00% | 09/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6390143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | NE St Pub Pwr Dist Rev Gen, Ser C<br>| 5.00% | 01/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529379 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6919522 |
|  | **Nevada – 0.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | Carson City NV Hosp Rev Ref Carson Tahoe Regl Med Ctr, Ser A<br>| 5.00% | 09/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;806018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805000 | Clark Cnty NV Impt Dist Ref Spl Loc Impt #151<br>| 4.50% | 08/01/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;807472 |
| &nbsp;&nbsp;&nbsp;&nbsp;4000000 | Clark Cnty NV Sch Dist, Ser A<br>| 5.00% | 06/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4562448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | Las Vegas NV Spl Impt Dist #616 Spl Impt Dist No 816 Summerlin Vlg 22<br>| 2.25% | 06/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | Las Vegas NV Spl Impt Dist #616 Spl Impt Dist No 816 Summerlin Vlg 22<br>| 2.50% | 06/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222555 |
| &nbsp;&nbsp;&nbsp;&nbsp;1230000 | Las Vegas Vly NV Wtr Dist Ref Wtr Impt, Ser A<br>| 5.00% | 06/01/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1294342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115000 | N Las Vegas NV Loc Impt Vly Vista Spl Impt Dist #64<br>| 3.50% | 06/01/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135000 | N Las Vegas NV Loc Impt Vly Vista Spl Impt Dist #64<br>| 3.75% | 06/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170000 | N Las Vegas NV Loc Impt Vly Vista Spl Impt Dist #64<br>| 3.75% | 06/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240000 | N Las Vegas NV Loc Impt Vly Vista Spl Impt Dist #64<br>| 3.75% | 06/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335000 | NV Dept of Busn & Ind NV Doral Acdmy, Ser A (c)<br>| 5.00% | 07/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | Reno NV Capital Impt Rev Ref, Ser A-1, AGM<br>| 5.00% | 06/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950000 | Reno NV Capital Impt Rev Ref, Ser A-1, AGM<br>| 5.00% | 06/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1037463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275000 | Reno NV Capital Impt Rev Ref, Ser A-1, AGM<br>| 5.00% | 06/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375000 | Sparks NV Tourism Impt Dist #1 Rev Ref Sales Tax Sr, Ser A (c)<br>| 2.50% | 06/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365960 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10940482 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **New Hampshire – 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;$2740000 | NH St Hlth & Edu Facs Auth Rev Concord Hosp Trust<br>| 5.00% | 10/01/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2862002 |
|  | **New Jersey – 2.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1600000 | Newark NJ, Ser D, BANS<br>| 4.00% | 09/29/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1608755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | NJ St Econ Dev Auth Motor Vehcl Sur Rev, Ser A, NATL-RE<br>| 5.25% | 07/01/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154099 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | NJ St Econ Dev Auth Mtr Vehcl Surcharge Rev Ref, Subser A, BAM<br>| 5.00% | 07/01/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1009131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 | NJ St Econ Dev Auth Mtr Vehcl Surcharge Rev Ref, Subser A, BAM<br>| 5.00% | 07/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490916 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | NJ St Econ Dev Auth Ref Sch Facs Constr, Ser N-1, NATL-RE<br>| 5.50% | 09/01/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2031739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | NJ St Econ Dev Auth Ref, Ser A, BAM<br>| 5.00% | 06/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504309 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | NJ St Econ Dev Auth Rev Portal N Bridge Proj NJ Transit Transprtn Proj Bonds, Ser A<br>| 5.25% | 11/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2203967 |
| &nbsp;&nbsp;&nbsp;&nbsp;3250000 | NJ St Econ Dev Auth Rev Sch Facs Constr Prog, Ser LLL<br>| 5.00% | 06/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3461832 |
| &nbsp;&nbsp;&nbsp;&nbsp;2930000 | NJ St Econ Dev Auth Rev Sch Facs Constr Prog, Ser LLL<br>| 5.00% | 06/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3077351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | NJ St Econ Dev Auth Rev Self Designated Social Bonds, Ser QQQ<br>| 4.00% | 06/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;361568 |
| &nbsp;&nbsp;&nbsp;&nbsp;1050000 | NJ St Econ Dev Auth Rev Social Bonds, Ser QQQ<br>| 5.00% | 06/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1211941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490000 | NJ St Econ Dev Auth Spl Fac Rev Ref Port Newark Container Terminal LLC Proj, AMT<br>| 5.00% | 10/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503862 |
| &nbsp;&nbsp;&nbsp;&nbsp;1290000 | NJ St Transprtn Trust Fund Auth Cap Apprec Transprtn Sys, Ser C, AMBAC<br>| &nbsp;&nbsp;&nbsp;(g) | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1186446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165000 | NJ St Transprtn Trust Fund Auth Fed Hwy Reimb Nts, Ser A-1, GARVEE<br>| 5.00% | 06/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177829 |
| &nbsp;&nbsp;&nbsp;&nbsp;2500000 | NJ St Transprtn Trust Fund Auth Fun Auth Transprtn Prog Bonds, Ser CC<br>| 5.25% | 06/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2734817 |
| &nbsp;&nbsp;&nbsp;&nbsp;1750000 | NJ St Transprtn Trust Fund Auth Ref Transprtn Sys Bonds, Ser A<br>| 5.00% | 12/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1972268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140000 | NJ St Transprtn Trust Fund Auth Ref Transprtn Sys Bonds, Ser A<br>| 5.00% | 12/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149125 |
| &nbsp;&nbsp;&nbsp;&nbsp;3040000 | NJ St Transprtn Trust Fund Auth Ref Transprtn Sys, Ser A<br>| 5.00% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3306052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | NJ St Transprtn Trust Fund Auth Ref Transprtn Sys, Ser A<br>| 5.00% | 12/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560197 |
| &nbsp;&nbsp;&nbsp;&nbsp;2250000 | NJ St Transprtn Trust Fund Auth Transprtn Prog Bonds, Ser AA<br>| 5.00% | 06/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2515873 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | NJ St Transprtn Trust Fund Auth Transprtn Prog Bonds, Ser AA<br>| 5.00% | 06/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1097535 |
| &nbsp;&nbsp;&nbsp;&nbsp;1400000 | NJ St Transprtn Trust Fund Auth Transprtn Sys, Ser D<br>| 5.25% | 12/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1430253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105000 | NJ St Transprtn Trust Fund Auth Transprtn Sys, Ser D<br>| 5.00% | 12/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220000 | NJ St Transprtn Trust Fund Auth, Ser BB<br>| 5.00% | 06/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245996 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | NJ St Transprtn Trust Fund Auth, Ser BB<br>| 5.00% | 06/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1105856 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | NJ St Turnpike Auth Turnpike Rev, Ser A<br>| 5.00% | 01/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2065776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Tobacco Stlmt Fing Corp NJ Ref, Ser A<br>| 5.00% | 06/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;533948 |
| &nbsp;&nbsp;&nbsp;&nbsp;1850000 | Tobacco Stlmt Fing Corp NJ Ref, Ser A<br>| 5.00% | 06/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1947448 |
| &nbsp;&nbsp;&nbsp;&nbsp;5505000 | Tobacco Stlmt Fing Corp NJ Ref, Ser A<br>| 5.25% | 06/01/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5754103 |
| &nbsp;&nbsp;&nbsp;&nbsp;1010000 | Tobacco Stlmt Fing Corp NJ Ref, Subser B<br>| 5.00% | 06/01/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020267 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44532753 |
|  | **New Mexico – 0.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325000 | Albuquerque NM Muni Sch Dist #12, Ser A<br>| 4.00% | 08/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265000 | Albuquerque NM Refuse Removal & Disp Rev<br>| 5.00% | 07/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185000 | Albuquerque NM Refuse Removal & Disp Rev<br>| 5.00% | 07/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290000 | Albuquerque NM Refuse Removal & Disp Rev<br>| 5.00% | 07/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338988 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Farmington NM Poll Control Rev Var Ref Pub Svc Co of NM San Juan Proj Remk, Ser D (Mandatory put 06/01/23) <br>| 1.10% | 06/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565000 | Los Ranchos De Albuquerque NM Eductnl Facs Rev Ref Albuquerque Acdmy Proj<br>| 4.00% | 09/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;599769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375000 | Los Ranchos De Albuquerque NM Eductnl Facs Rev Ref Albuquerque Acdmy Proj<br>| 4.00% | 09/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394119 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **New Mexico (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$300000 | Los Ranchos De Albuquerque NM Eductnl Facs Rev Ref Albuquerque Acdmy Proj<br>| 4.00% | 09/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$310827 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | Lower Petroglyphs Pub Impt Dist NM Spl Levy Rev Ref<br>| 4.00% | 10/01/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230000 | Lower Petroglyphs Pub Impt Dist NM Spl Levy Rev Ref<br>| 4.20% | 10/01/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240000 | Lower Petroglyphs Pub Impt Dist NM Spl Levy Rev Ref<br>| 4.30% | 10/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | Lower Petroglyphs Pub Impt Dist NM Spl Levy Rev Ref<br>| 4.45% | 10/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260000 | Lower Petroglyphs Pub Impt Dist NM Spl Levy Rev Ref<br>| 4.55% | 10/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365000 | Lower Petroglyphs Pub Impt Dist NM Spl Levy Rev Ref<br>| 5.00% | 10/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825000 | NM St Hosp Equipment Loan Council Hosp Rev Ref<br>| 5.00% | 06/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;906095 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | NM St Hosp Equipment Loan Council Hosp Rev Ref<br>| 4.00% | 06/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021944 |
| &nbsp;&nbsp;&nbsp;&nbsp;1360000 | NM St Hosp Equipment Loan Council Hosp Rev Ref<br>| 4.00% | 06/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1376362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520000 | Santa Fe NM Retmnt Fac Rev El Castillo Retmnt Proj, Ser A<br>| 5.00% | 05/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8791785 |
|  | **New York – 7.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460000 | Buffalo NY Muni Wtr Fin Auth, Ser A, AGM<br>| 4.00% | 07/01/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;477727 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415000 | Build NYC Res Corp NY Rev Social Bond Kipp NYC Pub Sch Facs Canal W Proj<br>| 5.00% | 07/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451320 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | Build NYC Res Corp NY Rev Social Bond Kipp NYC Pub Sch Facs Canal W Proj<br>| 5.00% | 07/01/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2109883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715000 | Hempstead Town NY Loc Dev Corp Rev Ref Hofstra Univ Proj, Ser A<br>| 4.00% | 07/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495000 | Hudson Yards Infra Corp NY 2nd Indenture Rev Ref, Ser A<br>| 5.00% | 02/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535371 |
| &nbsp;&nbsp;&nbsp;&nbsp;5000000 | Long Island NY Pwr Auth Elec Sys Rev Elec Sys Rev Gen, Ser A, BAM<br>| 5.00% | 09/01/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5107938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | Long Island NY Pwr Auth Elec Sys Rev Ref, Ser A<br>| 5.00% | 09/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Long Island NY Pwr Auth Elec Sys Rev Ref, Ser A<br>| 4.00% | 09/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;509963 |
| &nbsp;&nbsp;&nbsp;&nbsp;2150000 | Met Transprtn Auth NY Rev Ref Transprtn, Subser C-1<br>| 5.00% | 11/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2205119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840000 | Monroe Cnty NY Indl Dev Corp Rev Ref Nazareth Clg of Rochester Proj, Ser A<br>| 5.00% | 10/01/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;849698 |
| &nbsp;&nbsp;&nbsp;&nbsp;5000000 | New York City NY Hsg Dev Corp Mf Hsg Rev Sustainable Dev Bonds, Ser F-2A (Mandatory put 12/22/26) <br>| 3.40% | 11/01/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5043385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | New York City NY Muni Wtr Fin Auth Wtr & Swr Sys Rev 2nd Gen Resolution, Sec CC-1<br>| 4.00% | 06/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;752022 |
| &nbsp;&nbsp;&nbsp;&nbsp;4285000 | New York City NY Muni Wtr Fin Auth Wtr & Swr Sys Rev Ref 2nd Gen Resolution, Subser CC-1 <br>| 4.00% | 06/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4469357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | New York City NY Muni Wtr Fin Auth Wtr & Swr Sys Rev Ref 2nd Gen Resolution, Subser EE-2 <br>| 5.00% | 06/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192519 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | New York City NY Transitional Fin Auth Rev Future Tax Sec Sub, Subser D-1<br>| 5.50% | 11/01/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2346094 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | New York City NY Transitional Fin Auth Rev Future Tax Secured Sub Fiscal 2016, Ser A-1<br>| 5.00% | 08/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1056073 |
| &nbsp;&nbsp;&nbsp;&nbsp;1500000 | New York City NY Transitional Fin Auth Rev Future Tax Sub, Subser E-1<br>| 5.00% | 02/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1596366 |
| &nbsp;&nbsp;&nbsp;&nbsp;1350000 | New York City NY Transitional Fin Auth Rev Sub Future Tax Secured Fiscal 1999, Ser A, Subser E-1 <br>| 5.00% | 02/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1457146 |
| &nbsp;&nbsp;&nbsp;10000000 | New York City NY Transitional Fin Auth Rev Sub, Ser B-1<br>| 4.00% | 11/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10242900 |
| &nbsp;&nbsp;&nbsp;&nbsp;2500000 | New York City NY Transitional Fin Auth Rev Sub, Ser B-1<br>| 4.00% | 11/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2549345 |
| &nbsp;&nbsp;&nbsp;&nbsp;4000000 | New York City NY Transitional Fin Auth Rev Subord, Ser A-1<br>| 5.25% | 08/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4686016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | New York St Dorm Auth Revs Non St Supported Debt Ref-Northwell Hlth Oblig Grp, Ser A<br>| 5.00% | 05/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;548580 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | NY City NY Transitional Fin Auth Bldg Aid Rev Subord Ref, Ser S-2A<br>| 5.00% | 07/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1126338 |
| &nbsp;&nbsp;&nbsp;10400000 | NY NY Adj Fiscal 2020, Subser B-3 (a)<br>| 1.50% | 10/01/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10400000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415000 | NY NY Fiscal 2020, Ser B-1<br>| 4.00% | 10/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421838 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **New York (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;$5690000 | NY NY Fiscal 2020, Ser B-1<br>| 4.00% | 10/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5729555 |
| &nbsp;&nbsp;&nbsp;&nbsp;6000000 | NY NY Fiscal 2022, Subser D-1<br>| 5.25% | 05/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7004665 |
| &nbsp;&nbsp;&nbsp;&nbsp;5730000 | NY NY, Ser B, Subser B-1<br>| 5.25% | 10/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6726547 |
| &nbsp;&nbsp;&nbsp;&nbsp;2925000 | NY NY, Ser B, Subser B-1<br>| 5.25% | 10/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3383712 |
| &nbsp;&nbsp;&nbsp;&nbsp;6000000 | NY NY, Ser F-1<br>| 5.00% | 03/01/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6631424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | NY St Dorm Auth Revs Non St Supported Debt Ref New Sch, Ser A<br>| 5.00% | 07/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475000 | NY St Dorm Auth Revs Non St Supported Debt Sch Dists Bd Fing Prog, Ser A, AGM<br>| 4.00% | 10/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;496006 |
| &nbsp;&nbsp;&nbsp;&nbsp;8000000 | NY St Dorm Auth Sales Tax Rev Ref Grp 3, Ser E<br>| 5.00% | 03/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8784007 |
| &nbsp;&nbsp;&nbsp;&nbsp;1925000 | NY St Dorm Auth St Personal Income Tax Rev Ref, Ser A<br>| 3.00% | 03/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1637028 |
| &nbsp;&nbsp;&nbsp;&nbsp;2850000 | NY St Dorm Auth St Personal Income Tax Rev Ref, Ser E<br>| 5.00% | 03/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3031091 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195000 | NY St Thruway Auth Gen Rev Jr Indebtedness Obl Subord, Ser B<br>| 4.00% | 01/01/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190929 |
| &nbsp;&nbsp;&nbsp;&nbsp;2225000 | NY St Thruway Auth Personal Income Tax Rev Ref Bidding Grp 3<br>| 5.00% | 03/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2521403 |
| &nbsp;&nbsp;&nbsp;&nbsp;4185000 | NY St Thruway Auth Personal Income Tax Rev Ref Bidding Grp 3<br>| 5.00% | 03/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4709290 |
| &nbsp;&nbsp;&nbsp;&nbsp;1250000 | NY St Transprtn Dev Corp Spl Fac Rev Delta Air Lines Inc LaGuardia Arpt Terminals C&D Redev, AMT<br>| 4.00% | 10/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1255598 |
| &nbsp;&nbsp;&nbsp;&nbsp;2720000 | NY St Transprtn Dev Corp Spl Fac Rev Delta Air Lines Inc LaGuardia Arpt Terminals C&D Redev, AMT<br>| 5.00% | 10/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2844065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | NY St Urban Dev Corp Rev Ref St Personal Income Tax Rev, Ser C<br>| 5.00% | 03/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219481 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | Onondaga Cnty NY Trust Cultural Res Rev Ref Syracuse Univ Proj<br>| 5.00% | 12/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2238997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Port Auth of NY & NJ NY Consol One Hundred Eighty Fifth Ref, AMT<br>| 5.00% | 09/01/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465000 | Port Auth of NY & NJ NY Ref Consol, Ser 186, AMT<br>| 5.00% | 10/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475319 |
| &nbsp;&nbsp;&nbsp;&nbsp;5000000 | Port Auth of NY & NJ NY Ref, 194th Ser<br>| 5.00% | 10/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5342355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | Suffolk NY Tobacco Asset Securitization Corp Tobacco Stlmt Ref Tobacco Stlmt Asset Backed Sr Bonds, Ser A-2 <br>| 4.00% | 06/01/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;639069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | Syracuse Regl Arpt Auth NY Sr Arpt Rev Ref, AMT<br>| 4.00% | 07/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146629 |
| &nbsp;&nbsp;&nbsp;&nbsp;8000000 | Tsasc Inc NY Tsasc Inc Rev Ref Turbo Sub, Ser B<br>| 5.00% | 06/01/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7528953 |
| &nbsp;&nbsp;&nbsp;&nbsp;2165000 | Util Debt Securitization Auth NY Ref Restructuring Bonds, Ser TE-1<br>| 5.00% | 12/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2536860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | Yonkers NY Econ Dev Corp Eductnl Rev Chrt Sch Edu Excellence Proj, Ser A<br>| 4.00% | 10/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850000 | Yonkers NY, Ser F, BAM<br>| 5.00% | 11/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;946870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Yonkers NY, Ser F, BAM<br>| 5.00% | 11/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;553908 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;137046663 |
|  | **North Carolina – 0.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | Buncombe Cnty NC Ltd Oblig Ref Rev, Ser A<br>| 5.00% | 06/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890000 | Charlotte NC Arpt Rev Charlotte Douglas Intl Arp, Ser B, AMT<br>| 5.00% | 07/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575000 | Charlotte-Mecklenburg NC Hosp Auth Hlthcare Sys Rev Ref Carolinas Hlthcare Sys, Ser A<br>| 5.00% | 01/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;609061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | Greenville NC Comb Enterprise Sys Rev Ref<br>| 5.00% | 04/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815893 |
| &nbsp;&nbsp;&nbsp;&nbsp;1330000 | Monroe NC Comb Enterprise Sys Rev Ref<br>| 5.00% | 03/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1435231 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | NC St Agric & Tech Univ Ref Gen, Ser A<br>| 5.00% | 10/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1049923 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | NC St Capital Facs Fin Agy Eductnl Facs Rev Ref High Point Univ<br>| 5.00% | 05/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | NC St Capital Facs Fin Agy Stdt Rev Ref Hsg NC A&T Univ Fdtn Proj, Ser A, AGC<br>| 5.00% | 06/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;949661 |
| &nbsp;&nbsp;&nbsp;&nbsp;1270000 | NC St Med Care Commn Hlthcare Facs Rev the Presbyterian Homes Oblig Grp, Ser A<br>| 5.00% | 10/01/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1269902 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **North Carolina (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;$1500000 | NC St Med Care Commn Hosp Rev Caromont Hlth, Ser B (Mandatory put 02/01/26)<br>| 5.00% | 02/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1604403 |
| &nbsp;&nbsp;&nbsp;&nbsp;1500000 | NC St Med Care Commn Retmnt Facs Rev Pennybyrn at Maryfield Proj, Ser A<br>| 5.00% | 10/01/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1395932 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | NC St Med Care Commn Retmnt Facs Rev Ref United Methodist Retmnt Homes, Ser A<br>| 5.00% | 10/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1015305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630000 | NC St Med Care Commn Retmnt Facs Rev Ref United Methodist Retmnt Homes, Ser A (Pre-refunded maturity 10/01/23) <br>| 5.00% | 10/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;659085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470000 | NC St Med Care Commn Retmnt Facs Rev Ref United Methodist Retmnt Homes, Ser A (Pre-refunded maturity 10/01/23) <br>| 5.00% | 10/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | NC St Med Care Commn Retmnt Facs Rev Ref United Methodist Retmnt Homes, Ser A (Pre-refunded maturity 10/01/23) <br>| 5.00% | 10/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;784624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | NC St Med Care Commn Retmnt Facs Rev Ref United Methodist Retmnt Homes, Ser A (Pre-refunded maturity 10/01/23) <br>| 5.00% | 10/01/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523083 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14340303 |
|  | **North Dakota – 0.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Grand Forks ND Hlthcare Sys Rev Altru Hlth Sys Ref<br>| 4.00% | 12/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499019 |
|  | **Ohio – 3.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | Akron Bath Copley Jt Twp OH Hosp Dist Ref Summa Hlth Oblig Grp Hosp Facs Rev<br>| 4.00% | 11/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;736875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | Akron Bath Copley Jt Twp OH Hosp Dist Ref Summa Hlth Oblig Grp Hosp Facs Rev<br>| 4.00% | 11/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;873506 |
| &nbsp;&nbsp;&nbsp;&nbsp;2600000 | Allen Cnty OH Hosp Facs Rev Ref, Ser A<br>| 5.00% | 08/01/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2760946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | American Muni Pwr OH Inc OH Rev Ref Fremont Energy Ctr Proj, Ser A<br>| 4.00% | 02/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;513012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | Bowling Green OH St Univ Ref, Ser A<br>| 4.00% | 06/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195000 | Bowling Green OH St Univ Ref, Ser A<br>| 4.00% | 06/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199910 |
| &nbsp;&nbsp;&nbsp;&nbsp;3000000 | Buckeye OH Tobacco Stlmt Fing Auth Ref Sr, Ser A-2, Class 1<br>| 4.00% | 06/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3011233 |
| &nbsp;&nbsp;&nbsp;&nbsp;2400000 | Buckeye OH Tobacco Stlmt Fing Auth Ref Sr, Ser B-2, Class 2<br>| 5.00% | 06/01/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2292009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135000 | Butler Cnty OH Hosp Facs Ref UC Hlth<br>| 5.00% | 11/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146616 |
| &nbsp;&nbsp;&nbsp;&nbsp;1500000 | Butler Cnty OH Hosp Facs Ref UC Hlth<br>| 5.00% | 11/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1627803 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Butler Cnty OH Hosp Facs Ref UC Hlth<br>| 5.00% | 11/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1083516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370000 | Butler Cnty OH Port Auth Econdev Lease Rev Ref Cmnty First Solutions Oblg Grp Proj, Ser A<br>| 4.00% | 05/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363464 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Chillicothe OH City Sch Dist Ref, AGM<br>| 4.00% | 12/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1031712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | Cleveland OH Pub Pwr Sys Rev Prerefunded Ref, Ser A, AGM<br>| 5.00% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83703 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Cleveland OH Pub Pwr Sys Rev Ref, Ser A, AGM<br>| 4.00% | 11/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1035516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420000 | Cleveland OH Pub Pwr Sys Rev Unrefunded Ref, Ser A, AGM<br>| 5.00% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310000 | Hamilton Cnty OH Hosp Facs Rev Ref Trihealth Inc Oblig Grp Proj, Ser A<br>| 5.00% | 08/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | Hamilton Cnty OH Hosp Facs Rev Ref Trihealth Inc Oblig Grp Proj, Ser A<br>| 5.00% | 08/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380000 | Hamilton Cnty OH Hosp Facs Rev Ref Trihealth Inc Oblig Grp Proj, Ser A<br>| 5.00% | 08/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;432358 |
| &nbsp;&nbsp;&nbsp;&nbsp;2100000 | Hamilton Cnty OH Hosp Facs Rev UC Hlth<br>| 4.00% | 09/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1898476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;960000 | Miami Cnty OH Hosp Facs Rev Ref & Impt Kettering Hlth Network Oblig Grp<br>| 5.00% | 08/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1056342 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Miami Cnty OH Hosp Facs Rev Ref & Impt Kettering Hlth Network Oblig Grp<br>| 5.00% | 08/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1095082 |
| &nbsp;&nbsp;&nbsp;&nbsp;3000000 | Miami Cnty OH Hosp Facs Rev Ref & Impt Kettering Hlth Network Oblig Grp<br>| 5.00% | 08/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3204954 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575000 | Miamisburg OH City Sch Dist Ref (Pre-refunded maturity 12/01/25)<br>| 5.00% | 12/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;619544 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **Ohio (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$400000 | Montgomery Cnty OH Hosp Rev Ref Kettering Hlth Network Oblig Grp Proj<br>| 4.00% | 08/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$408108 |
| &nbsp;&nbsp;&nbsp;&nbsp;1375000 | Montgomery Cnty OH Hosp Rev Ref Kettering Hlth Network Oblig Grp Proj<br>| 4.00% | 08/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1385544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | NE OH Med Univ Gen Recpts Ref, Ser A<br>| 4.00% | 12/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602991 |
| &nbsp;&nbsp;&nbsp;&nbsp;1760000 | NW OH Loc Sch Dist Hamilton & Butler Cntys Sch Impt (Pre-refunded maturity 12/01/23)<br>| 5.00% | 12/01/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1797414 |
| &nbsp;&nbsp;&nbsp;&nbsp;2500000 | OH St Air Quality Dev Auth American Elec Pwr Co Proj Remk, Ser A (Mandatory put 10/01/29)<br>| 2.40% | 12/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2278577 |
| &nbsp;&nbsp;&nbsp;&nbsp;5750000 | OH St Air Quality Dev Auth Exempt Facs Rev AMG Vanadium Proj, AMT (c)<br>| 5.00% | 07/01/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5254739 |
| &nbsp;&nbsp;&nbsp;&nbsp;3000000 | OH St Air Quality Dev Auth OH Vly Elec Corp Proj Remk, Ser B, AMT (Mandatory put 10/01/29) <br>| 2.60% | 06/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2759192 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | OH St Air Quality Dev Auth Ref American Elec Pwr Company Proj Remk, Ser B, AMT (Mandatory put 10/01/24) <br>| 2.10% | 07/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;971028 |
| &nbsp;&nbsp;&nbsp;&nbsp;2225000 | OH St Air Quality Dev Auth Ref OH Vly Elec Corp Proj, Ser A<br>| 3.25% | 09/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2070310 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | OH St Air Quality Dev Auth Var Ref Duke Energy Corp Proj, Ser A, AMT (Mandatory put 06/01/27) <br>| 4.25% | 11/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024981 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | OH St Air Quality Dev Auth Var Ref Duke Energy Corp Proj, Ser B (Mandatory put 06/01/27)<br>| 4.00% | 09/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2046211 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | OH St Hgr Eductnl Fac Commn Denison Univ Proj<br>| 5.00% | 11/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1101955 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | OH St Hgr Eductnl Fac Commn Ref Rev Judson Oblig Grp 2020 Proj, Ser A<br>| 5.00% | 12/01/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;956643 |
| &nbsp;&nbsp;&nbsp;&nbsp;2455000 | OH St Hosp Rev Ref Univ Hosps Hlth Sys Inc, Ser E<br>| 4.00% | 01/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2429072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | OH St Hosp Rev Ref, Ser A<br>| 5.00% | 01/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325000 | OH St Hosp Rev Ref, Ser A<br>| 5.00% | 01/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | OH St Hosp Rev Ref, Ser A<br>| 4.00% | 01/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | OH St Wtr Dev Auth Rev Sustainability Bond, Ser A<br>| 5.00% | 12/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;818519 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | OH St Wtr Dev Auth Rev Sustainability Bond, Ser A<br>| 5.00% | 12/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1162959 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | OH St Wtr Dev Auth Rev Sustainability Bond, Ser A<br>| 5.00% | 12/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1156462 |
| &nbsp;&nbsp;&nbsp;&nbsp;2500000 | OH St, Ser T<br>| 5.00% | 05/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2773539 |
| &nbsp;&nbsp;&nbsp;&nbsp;6325000 | Ross Cnty OH Hosp Rev Ref Adena Hlth Sys Oblig Grp Proj<br>| 5.00% | 12/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6566022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550000 | Sharonville OH Spl Oblg Rev<br>| 4.00% | 12/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Sharonville OH Spl Oblg Rev<br>| 4.00% | 12/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512165 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64914944 |
|  | **Oklahoma – 0.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | Catoosa OK Indl Auth Sales Tax Rev<br>| 4.50% | 10/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;855646 |
| &nbsp;&nbsp;&nbsp;&nbsp;6000000 | OK St Dev Fin Auth Sr OK Proton Ctr, Ser A1 (c)<br>| 7.25% | 09/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6298311 |
| &nbsp;&nbsp;&nbsp;&nbsp;2815000 | Oklahoma City OK Arpt Trust Junior Lien, AMT<br>| 5.00% | 07/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3053173 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Oklahoma Cnty OK Fin Auth Eductnl Facs Lease Rev Midwest City De City Pub Schs Proj<br>| 5.00% | 10/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1062853 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Oklahoma Cnty OK Fin Auth Eductnl Facs Lease Rev Midwest City De City Pub Schs Proj<br>| 5.00% | 10/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1084769 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Tulsa Cnty OK Indl Auth Sr Living Cmnty Rev Ref Montereau Inc Proj<br>| 5.00% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022614 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | Tulsa Cnty OK Indl Auth Sr Living Cmnty Rev Ref Montereau Inc Proj<br>| 5.00% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257536 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Weatherford OK Indl Trust Eductnl Facs Lease Rev Weatherford Pub Schs Proj<br>| 5.00% | 03/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1123646 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14758548 |
|  | **Oregon – 1.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Clackamas Cnty OR Hosp Fac Auth Rev Ref Rose Villa Proj, Ser A<br>| 5.25% | 11/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;464170 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **Oregon (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$170000 | Clackamas Cnty OR Hosp Fac Auth Rev Ref Sr Living Willamette View Proj, Ser A<br>| 4.00% | 05/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$168341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | Clackamas Cnty OR Hosp Fac Auth Rev Ref Sr Living Willamette View Proj, Ser A<br>| 5.00% | 11/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251354 |
| &nbsp;&nbsp;&nbsp;&nbsp;1250000 | Medford OR Hosp Facs Auth Rev Ref Asante Proj, Ser A<br>| 5.00% | 08/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1404251 |
| &nbsp;&nbsp;&nbsp;&nbsp;4000000 | OR St Dept of Admin Svcs Lottery Rev, Ser A<br>| 5.00% | 04/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4392574 |
| &nbsp;&nbsp;&nbsp;&nbsp;2035000 | OR St Dept of Admin Svcs Lottery Rev, Ser A<br>| 5.00% | 04/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2223762 |
| &nbsp;&nbsp;&nbsp;&nbsp;1100000 | OR St Facs Auth Rev Ref Univ Portland, Ser A<br>| 5.00% | 04/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1149191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Oregon City OR<br>| 4.00% | 06/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522582 |
| &nbsp;&nbsp;&nbsp;&nbsp;1890000 | Port of Portland OR Arpt Rev Portland Intl Arpt, Ser 25B, AMT<br>| 5.00% | 07/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2116280 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Port of Portland OR Arpt Rev Portland Intl Arpt, Ser 25B, AMT<br>| 5.00% | 07/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1072035 |
| &nbsp;&nbsp;&nbsp;&nbsp;2500000 | Portland OR Swr Sys Rev 2nd Lien, Ser A<br>| 4.50% | 05/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2659974 |
| &nbsp;&nbsp;&nbsp;&nbsp;4950000 | Tri Cnty OR Met Transprtn Dist, Ser A, GARVEE<br>| 5.00% | 10/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5494537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725000 | Tri-Cnty OR Met Transprtn Dist, Ser A<br>| 4.00% | 09/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750520 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Union Cnty OR Hosp Fac Auth Grande Ronde Hosp<br>| 5.00% | 07/01/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1032102 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23701673 |
|  | **Pennsylvania – 6.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1500000 | Allegheny Cnty PA Hosp Dev Auth Ref Allegheny Hlth Network Oblig Grp Issue, Ser A<br>| 5.00% | 04/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1645296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505000 | Allegheny Cnty PA Hosp Dev Auth Ref Univ Pittsburgh Med Ctr, Ser A<br>| 5.00% | 07/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;567425 |
| &nbsp;&nbsp;&nbsp;&nbsp;3050000 | Allegheny Cnty PA Hosp Dev Auth Ref Univ Pittsburgh Med Ctr, Ser A<br>| 4.00% | 07/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3130375 |
| &nbsp;&nbsp;&nbsp;&nbsp;2180000 | Allegheny Cnty PA Hosp Dev Auth Ref Univ Pittsburgh Med Ctr, Ser A<br>| 4.00% | 07/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2211635 |
| &nbsp;&nbsp;&nbsp;&nbsp;2095000 | Allegheny Cnty PA Hosp Dev Auth Ref Univ Pittsburgh Med Ctr, Ser A<br>| 4.00% | 07/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2116104 |
| &nbsp;&nbsp;&nbsp;&nbsp;2650000 | Allegheny Cnty PA Hosp Dev Auth Ref Univ Pittsburgh Med Ctr, Ser A<br>| 4.00% | 07/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2671518 |
| &nbsp;&nbsp;&nbsp;&nbsp;1075000 | Allegheny Vly PA Jt Sewage Auth Green Bond, BAM<br>| 4.00% | 08/01/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1076666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | Armstrong PA Sch Dist Ref, Ser A, BAM<br>| 5.00% | 03/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1041483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Armstrong PA Sch Dist Ref, Ser A, BAM<br>| 4.00% | 03/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;517970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460000 | Berks Cnty PA Indl Dev Auth Hlthcare Facs Rev Ref Highlands at Wyomissing, Ser A<br>| 5.00% | 05/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;464380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735000 | Bucks Cnty PA Indl Dev Auth Hosp Rev St Luke's Univ Hlth Network Proj<br>| 4.00% | 08/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735484 |
| &nbsp;&nbsp;&nbsp;&nbsp;1050000 | Bucks Cnty PA Indl Dev Auth Hosp Rev St Luke's Univ Hlth Network Proj<br>| 4.00% | 08/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000321 |
| &nbsp;&nbsp;&nbsp;&nbsp;1185000 | Bucks Cnty PA Indl Dev Auth Ref Pennswood Vlg Proj, Ser A<br>| 5.00% | 10/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1204620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415000 | Bucks Cnty PA Indl Dev Auth Ref Pennswood Vlg Proj, Ser A<br>| 5.00% | 10/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765000 | Chester Cnty PA Indl Dev Auth Renaissance Acdmy Chrt Sch<br>| 5.00% | 10/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;771694 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Cmwlth Fing Auth PA Tobacco Master Stlmt Payment Rev Tobacco Master Stlmt Payment Bonds<br>| 5.00% | 06/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1051001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410000 | Cmwlth Fing Auth PA Tobacco Master Stlmt Payment Rev Tobacco Master Stlmt Payment Bonds<br>| 5.00% | 06/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440421 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Colonial PA Sch Dist<br>| 5.00% | 02/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | Colonial PA Sch Dist, Ser A<br>| 5.00% | 02/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270000 | Conestoga Vly PA Sch Dist<br>| 4.00% | 02/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | Conestoga Vly PA Sch Dist<br>| 4.00% | 02/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | Cumberland Cnty PA Muni Auth Prerefunded Ref Diakon Lutheran Ministries Proj (Pre-refunded maturity 01/01/25) <br>| 5.00% | 01/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105000 | Cumberland Cnty PA Muni Auth Prerefunded Ref Diakon Lutheran Ministries Proj (Pre-refunded maturity 01/01/25) <br>| 5.00% | 01/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110128 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **Pennsylvania (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$65000 | Cumberland Cnty PA Muni Auth Prerefunded Ref Diakon Lutheran Ministries Proj (Pre-refunded maturity 01/01/25) <br>| 5.00% | 01/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$68175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285000 | Cumberland Cnty PA Muni Auth Prerefunded Ref Diakon Lutheran Ministries Proj (Pre-refunded maturity 01/01/25) <br>| 5.00% | 01/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298920 |
| &nbsp;&nbsp;&nbsp;&nbsp;1150000 | Cumberland Cnty PA Muni Auth Ref Diakon Lutheran Social Ministries<br>| 5.00% | 01/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1179055 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Cumberland Cnty PA Muni Auth Ref Diakon Lutheran Social Ministries<br>| 5.00% | 01/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1018394 |
| &nbsp;&nbsp;&nbsp;&nbsp;1660000 | Cumberland Cnty PA Muni Auth Ref Messiah Vlg Proj<br>| 5.00% | 07/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1661229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145000 | Cumberland Cnty PA Muni Auth Unrefunded Ref Diakon Lutheran Ministries Proj<br>| 5.00% | 01/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | Cumberland Cnty PA Muni Auth Unrefunded Ref Diakon Lutheran Ministries Proj<br>| 5.00% | 01/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | Deer Creek PA Drain Basin Allegheny Cnty Swr Rev Ref, AGM<br>| 4.00% | 12/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390000 | Deer Creek PA Drain Basin Allegheny Cnty Swr Rev Ref, AGM<br>| 4.00% | 12/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412460 |
| &nbsp;&nbsp;&nbsp;&nbsp;1165000 | Dover PA Area Sch Dist, BAM<br>| 4.00% | 04/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1236041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | Dubois PA Hosp Auth Penn Highlands Hlthcare<br>| 5.00% | 07/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115000 | Dubois PA Hosp Auth Penn Highlands Hlthcare<br>| 5.00% | 07/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124367 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245000 | Dubois PA Hosp Auth Penn Highlands Hlthcare<br>| 5.00% | 07/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290000 | Dubois PA Hosp Auth Penn Highlands Hlthcare<br>| 5.00% | 07/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715000 | E Hempfield Twp PA Indl Dev Auth Ref Willow Vly Cmntys Proj<br>| 5.00% | 12/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;754927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770000 | E Hempfield Twp PA Indl Dev Auth Ref Willow Vly Cmntys Proj<br>| 5.00% | 12/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;812187 |
| &nbsp;&nbsp;&nbsp;&nbsp;2500000 | Geisinger PA Auth Hlth Sys Rev Ref Geisinger Hlth Sys, Ser A-1<br>| 5.00% | 02/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2568945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;760000 | Hermitage PA Muni Auth Ref, Ser C<br>| 4.00% | 02/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;813208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515000 | Hermitage PA Muni Auth Ref, Ser C<br>| 4.00% | 02/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545307 |
| &nbsp;&nbsp;&nbsp;&nbsp;1730000 | Kiski Vly PA Wtr Poll Control Auth Ref, AGM<br>| 4.00% | 09/01/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1735106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480000 | Lancaster Cnty PA Hosp Auth Hlthcare Facs Rev Moravian Manors Inc Proj, Ser A<br>| 5.00% | 06/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481009 |
| &nbsp;&nbsp;&nbsp;&nbsp;1110000 | Lancaster Cnty PA Hosp Auth Hlthcare Facs Rev Moravian Manors Inc Proj, Ser A<br>| 5.00% | 06/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1061724 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Lancaster Cnty PA Hosp Auth Penn St Hlth<br>| 5.00% | 11/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1090883 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Lancaster Cnty PA Hosp Auth Penn St Hlth<br>| 5.00% | 11/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1085135 |
| &nbsp;&nbsp;&nbsp;&nbsp;1735000 | Lancaster Cnty PA Hosp Auth Penn St Hlth<br>| 5.00% | 11/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1872056 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | Lancaster Cnty PA Hosp Auth Ref, St Annes Retmnt Cmnty Inc Proj<br>| 5.00% | 03/01/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;646532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | Latrobe PA Indl Dev Auth Univ Rev Ref Seton Hill Univ<br>| 4.00% | 03/01/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630860 |
| &nbsp;&nbsp;&nbsp;&nbsp;2415000 | Latrobe PA Indl Dev Auth Univ Rev Ref Seton Hill Univ<br>| 4.00% | 03/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1963954 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405000 | Lebanon PA Auth Swr Rev Ref Green Bond, BAM<br>| 4.00% | 12/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;432255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420000 | Lebanon PA Auth Swr Rev Ref Green Bond, BAM<br>| 4.00% | 12/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;446287 |
| &nbsp;&nbsp;&nbsp;&nbsp;3000000 | Lehigh Cnty PA Indl Dev Auth Ref Ppl Elec Util Corp Proj Remk, Ser A<br>| 3.00% | 09/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3052123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Maxatawny Twp PA Muni Auth Rev Diakon Lutheran Social Ministries Proj, Ser A<br>| 5.00% | 01/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502479 |
| &nbsp;&nbsp;&nbsp;&nbsp;1550000 | Mechanicsburg PA Area Sch Dist, Ser A<br>| 4.00% | 03/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1604357 |
| &nbsp;&nbsp;&nbsp;&nbsp;1090000 | Mechanicsburg PA Area Sch Dist, Ser A<br>| 4.00% | 03/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1116933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | Mifflinburg PA Area Sch Dist Ref, Ser A<br>| 4.00% | 06/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550000 | Mifflinburg PA Area Sch Dist Ref, Ser A<br>| 4.00% | 06/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610000 | Mifflinburg PA Area Sch Dist Ref, Ser A<br>| 4.00% | 06/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;623129 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Montgomery Cnty PA Hgr Edu & Hlth Auth Ref Thomas Jefferson Univ Proj<br>| 4.00% | 09/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023023 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Montgomery Cnty PA Hgr Edu & Hlth Auth Ref Thomas Jefferson Univ Proj<br>| 4.00% | 09/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1013774 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | Montgomery Cnty PA Hgr Edu & Hlth Auth Ref Thomas Jefferson Univ Proj<br>| 4.00% | 09/01/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1954588 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **Pennsylvania (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$480000 | Montgomery Cnty PA Indl Dev Auth Ref Meadowood Sr Living Proj, Ser A<br>| 5.00% | 12/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$497037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | Montgomery Cnty PA Indl Dev Auth Ref Waverly Heights Ltd Proj<br>| 4.00% | 12/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | Montgomery Cnty PA Indl Dev Auth Ref Waverly Heights Ltd Proj<br>| 4.00% | 12/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580000 | Montgomery Cnty PA Indl Dev Auth Ref Waverly Heights Ltd Proj<br>| 5.00% | 12/01/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;601912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140000 | Northampton Cnty PA Gen Purp Auth Clg Rev Ref Moravian Clg<br>| 5.00% | 10/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | Northampton Cnty PA Gen Purp Auth Clg Rev Ref Moravian Clg<br>| 5.00% | 10/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540000 | Northampton Cnty PA Gen Purp Auth Clg Rev Ref Moravian Clg<br>| 5.00% | 10/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;568202 |
| &nbsp;&nbsp;&nbsp;&nbsp;1800000 | Northampton Cnty PA Gen Purp Auth Hosp Rev Ref St Luke's Univ Hlth Network Proj, Ser A <br>| 5.00% | 08/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1928262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | PA St 2nd, Ser CR, AGM<br>| 4.00% | 09/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527775 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | PA St Econ Dev Fin Auth Rev UPMC Rev, Ser B<br>| 4.00% | 03/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49895 |
| &nbsp;&nbsp;&nbsp;&nbsp;2500000 | PA St Econ Dev Fing Auth Solid Waste Disposal Rev Var Waste Mgmt Inc Proj Remk, AMT (Mandatory put 05/01/23) <br>| 4.00% | 08/01/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500048 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | PA St Econ Dev Fing Auth T/E Priv Activity Rev the Penndot Major Bridges Package One Proj P3 Proj, AMT <br>| 5.25% | 06/30/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2249424 |
| &nbsp;&nbsp;&nbsp;&nbsp;1250000 | PA St Econ Dev Fing Auth T/E Priv Activity Rev the Penndot Major Bridges Package One Proj P3 Proj, AMT <br>| 5.25% | 06/30/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1391170 |
| &nbsp;&nbsp;&nbsp;&nbsp;1105000 | PA St Hgr Eductnl Facs Auth Rev Ref Drexel Univ<br>| 5.00% | 05/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1167633 |
| &nbsp;&nbsp;&nbsp;&nbsp;2810000 | PA St Hsg Fin Agy SF Mtge Rev Non Ace, Ser 123B<br>| 3.45% | 10/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2800181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880000 | PA St Hsg Fin Agy SF Mtge Rev Non Ace, Ser 125B, AMT<br>| 3.70% | 10/01/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840244 |
| &nbsp;&nbsp;&nbsp;&nbsp;5410000 | PA St Hsg Fin Agy SF Mtge Rev, Ser 127B<br>| 3.55% | 10/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5429610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565000 | PA St Turnpike Commn Turnpike Rev Conv Cap Apprec, Subser E<br>| 6.38% | 12/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;647490 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | PA St Turnpike Commn Turnpike Rev Ref<br>| 5.00% | 12/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1045704 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | PA St Turnpike Commn Turnpike Rev Ref, Ser B<br>| 5.25% | 12/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1122331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545000 | PA St Turnpike Commn Turnpike Rev Ref, Ser B<br>| 5.25% | 12/01/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;611671 |
| &nbsp;&nbsp;&nbsp;&nbsp;2875000 | PA St Turnpike Commn Turnpike Rev Sub, Ser A, BAM<br>| 5.00% | 12/01/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3046920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550000 | PA St Turnpike Commn Turnpike Rev Subord, Ser A-1<br>| 5.00% | 12/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;586972 |
| &nbsp;&nbsp;&nbsp;&nbsp;4500000 | PA St Turnpike Commn Turnpike Rev, Subser A<br>| 4.00% | 12/01/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4427742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | Parkland PA Sch Dist, Ser B<br>| 4.00% | 02/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | Parkland PA Sch Dist, Ser B<br>| 4.00% | 02/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320265 |
| &nbsp;&nbsp;&nbsp;&nbsp;1200000 | Philadelphia PA Arpt Rev Ref Priv Activity, AGM, AMT<br>| 4.00% | 07/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1197725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | Philadelphia PA Arpt Rev Ref Priv Activity, AGM, AMT<br>| 4.00% | 07/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740081 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620000 | Philadelphia PA Auth for Indl Dev Chrt Sch Rev Mast Chrt Sch Proj<br>| 5.00% | 08/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;638475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375000 | Philadelphia PA Auth for Indl Dev Chrt Sch Rev Mast Chrt Sch Proj<br>| 5.00% | 08/01/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381846 |
| &nbsp;&nbsp;&nbsp;&nbsp;2250000 | Philadelphia PA Auth for Indl Dev Chrt Sch Rev Philadelphia E&T Chrt High Sch, Ser A<br>| 4.00% | 06/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1909534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290000 | Philadelphia PA Gas Wks Rev Ref<br>| 5.00% | 08/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306261 |
| &nbsp;&nbsp;&nbsp;&nbsp;1625000 | Philadelphia PA Gas Wks Rev Ref<br>| 5.00% | 08/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1716118 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Philadelphia PA Gas Wks Rev Ref 1998 General Ordinance, 14th Ser<br>| 5.00% | 10/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1075690 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | Philadelphia PA Gas Wks Rev Ref 1998 General Ordinance, 14th Ser<br>| 5.00% | 10/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2122706 |
| &nbsp;&nbsp;&nbsp;&nbsp;5235000 | Philadelphia PA Gas Wks Rev Ref 1998 General Ordinance, 15th Ser<br>| 5.00% | 08/01/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5443240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Philadelphia PA Ref, Ser A<br>| 5.00% | 08/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;544002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Philadelphia PA Ref, Ser A<br>| 5.00% | 08/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;556269 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | Philadelphia PA Ref, Ser A (Pre-refunded maturity 01/15/24)<br>| 5.25% | 07/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770344 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | Philadelphia PA, Ser A<br>| 4.00% | 05/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2013725 |
| &nbsp;&nbsp;&nbsp;&nbsp;3260000 | Philadelphia PA, Ser B, BAM<br>| 5.00% | 02/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3768245 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **Pennsylvania (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$300000 | Pittsburgh PA Wtr & Swr Auth, Ser B, AGM<br>| 5.00% | 09/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$350161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205000 | Pittsburgh PA Wtr & Swr Auth, Ser B, AGM<br>| 5.00% | 09/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235856 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | S Estrn PA Transprtn Auth Asset Impt Prog<br>| 5.25% | 06/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2335972 |
| &nbsp;&nbsp;&nbsp;&nbsp;3650000 | S Estrn PA Transprtn Auth Asset Impt Prog<br>| 5.25% | 06/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4240509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | S Wayne Cnty PA Wtr & Swr Auth Wtr & Swr Rev Ref, BAM<br>| 4.00% | 02/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325000 | S Wayne Cnty PA Wtr & Swr Auth Wtr & Swr Rev Ref, BAM<br>| 4.00% | 02/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235000 | S Wayne Cnty PA Wtr & Swr Auth Wtr & Swr Rev Ref, BAM<br>| 4.00% | 02/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247377 |
| &nbsp;&nbsp;&nbsp;&nbsp;1835000 | Scranton PA Sch Dist<br>| 4.00% | 12/01/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1781831 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405000 | Southcentrl PA General Auth Rev Ref Hanover Hosp Inc<br>| 5.00% | 12/01/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390000 | Upper Darby PA Sch Dist, AGM<br>| 4.00% | 04/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | Upper Darby PA Sch Dist, AGM<br>| 4.00% | 04/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | Upper Darby PA Sch Dist, AGM<br>| 4.00% | 04/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | Upper Darby PA Sch Dist, AGM<br>| 4.00% | 04/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | Upper Darby PA Sch Dist, Ser A, BAM<br>| 4.00% | 04/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204074 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | Upper Darby PA Sch Dist, Ser A, BAM<br>| 4.00% | 04/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | Upper Darby PA Sch Dist, Ser A, BAM<br>| 4.00% | 04/01/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;304240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245000 | Upper Darby PA Sch Dist, Ser A, BAM<br>| 4.00% | 04/01/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105000 | W Cornwall Twp PA Muni Auth Ref Lebanon Vly Brethren Home Proj, Ser A<br>| 4.00% | 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135000 | W Cornwall Twp PA Muni Auth Ref Lebanon Vly Brethren Home Proj, Ser A<br>| 4.00% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215000 | W Cornwall Twp PA Muni Auth Ref Lebanon Vly Brethren Home Proj, Ser A<br>| 4.00% | 11/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196364 |
| &nbsp;&nbsp;&nbsp;&nbsp;1970000 | Westmoreland Cnty PA Muni Auth Ref, BAM<br>| 5.00% | 08/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2045502 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;130407478 |
|  | **Puerto Rico – 0.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5000000 | Puerto Rico Cmwlth Restructured, Ser A1<br>| 4.00% | 07/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4686722 |
| &nbsp;&nbsp;&nbsp;&nbsp;6558000 | Puerto Rico Sales Tax Fing Corp Sales Tax Rev Restructured, Ser A-1<br>| 4.50% | 07/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6589488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429000 | Puerto Rico Sales Tax Fing Corp Sales Tax Rev Restructured, Ser A-1, CABS<br>| &nbsp;&nbsp;&nbsp;(g) | 07/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354268 |
| &nbsp;&nbsp;&nbsp;&nbsp;1536000 | Puerto Rico Sales Tax Fing Corp Sales Tax Rev Restructured, Ser A-1, CABS<br>| &nbsp;&nbsp;&nbsp;(g) | 07/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1036456 |
| &nbsp;&nbsp;&nbsp;&nbsp;3500000 | Puerto Rico Sales Tax Fing Corp Sales Tax Rev Restructured, Ser A-2<br>| 4.33% | 07/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3359379 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16026313 |
|  | **Rhode Island – 0.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | Providence RI Pub Bldgs Auth Rev, Ser B, AGM<br>| 5.00% | 06/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320000 | Providence RI Pub Bldgs Auth Rev, Ser B, AGM<br>| 5.00% | 06/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;361041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230000 | Providence RI Pub Bldgs Auth Rev, Ser B, AGM<br>| 5.00% | 06/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257259 |
| &nbsp;&nbsp;&nbsp;&nbsp;1125000 | RI St Hlth & Eductnl Bldg Corp Rev Ref Hosp Fing Lifespan Oblig Grp<br>| 5.00% | 05/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1169611 |
| &nbsp;&nbsp;&nbsp;&nbsp;1460000 | RI St Hlth & Eductnl Bldg Corp Rev Ref Hosp Fing Lifespan Oblig Grp<br>| 5.00% | 05/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1511399 |
| &nbsp;&nbsp;&nbsp;&nbsp;1700000 | RI St Hlth & Eductnl Bldg Corp Rev Ref Hosp Fing Lifespan Oblig Grp<br>| 5.00% | 05/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1726716 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5195692 |
|  | **South Carolina – 0.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2250000 | Berkeley Cnty SC Assmnt Rev Nexton Impt Dist<br>| 4.25% | 11/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1963796 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Greenville SC Hosp Sys Brd Hosp Facs Rev, Ser B<br>| 5.00% | 05/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022151 |
| &nbsp;&nbsp;&nbsp;&nbsp;1310000 | Lancaster Cnty SC Assmnt Rev Ref Walnut Creek Impt Dist, Ser A-1<br>| 5.00% | 12/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1315652 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **South Carolina (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;$1000000 | Lancaster Cnty SC Assmnt Rev Ref Walnut Creek Impt Dist, Ser A-1<br>| 5.00% | 12/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1002279 |
| &nbsp;&nbsp;&nbsp;&nbsp;1075000 | SC St Jobs Econ Dev Auth Econ Dev Rev Woodlands at Furman Proj, Ser A<br>| 5.00% | 11/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;947899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | SC St Jobs Econ Dev Auth Hosp Rev Ref Palmetto Hlth, Ser A<br>| 5.00% | 08/01/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30383 |
| &nbsp;&nbsp;&nbsp;&nbsp;2375000 | SC St Pub Svc Auth Rev Ref Santee Cooper, Ser C, AGM<br>| 5.50% | 12/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2737588 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | SC St Pub Svc Auth Rev Ref Santee Cooper, Ser C, AGM<br>| 5.50% | 12/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2293105 |
| &nbsp;&nbsp;&nbsp;&nbsp;1995000 | SC St Pub Svc Auth Rev Ref Santee Cooper, Ser C, AGM<br>| 5.50% | 12/01/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2263201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355000 | SC St Pub Svc Auth Rev Ref, Ser A<br>| 4.00% | 12/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359160 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13935214 |
|  | **South Dakota – 0.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Lincoln Cnty SD Econ Dev Rev Ref Augustana Clg Assoc Proj, Ser A<br>| 4.00% | 08/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;833916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510000 | SD St Brd of Rgts Hsg & Auxiliary Fac Sys Rev<br>| 5.00% | 04/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505000 | SD St Brd of Rgts Hsg & Auxiliary Fac Sys Rev<br>| 5.00% | 04/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545052 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | SD St Brd of Rgts Hsg & Auxiliary Fac Sys Rev Ref Hsg & Auxiliary Facs Sys <br>| 5.00% | 04/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1116375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420000 | SD St Brd of Rgts Hsg & Auxiliary Fac Sys Rev, Ser B<br>| 5.00% | 04/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105000 | SD St Hlth & Eductnl Facs Auth Ref Sanford Oblig Grp<br>| 5.00% | 11/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | SD St Hlth & Eductnl Facs Auth Ref Westhills Vlg Retmnt Cmnty Issue<br>| 3.00% | 09/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640000 | SD St Hlth & Eductnl Facs Auth Ref Westhills Vlg Retmnt Cmnty Issue<br>| 3.00% | 09/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;599236 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4388991 |
|  | **Tennessee – 1.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | Chattanooga TN Hlth Eductnl & Hsg Fac Brd Rev Ref Commonspirit Hlth, Ser A-1 <br>| 5.00% | 08/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | Chattanooga TN Hlth Eductnl & Hsg Fac Brd Rev Ref Commonspirit Hlth, Ser A-1 <br>| 4.00% | 08/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825000 | Chattanooga TN Hlth Eductnl & Hsg Fac Brd Rev Ref Commonspirit Hlth, Ser A-2 <br>| 5.00% | 08/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900256 |
| &nbsp;&nbsp;&nbsp;&nbsp;2500000 | Chattanooga TN Hlth Eductnl & Hsg Fac Brd Rev Ref Commonspirit Hlth, Ser A-2 <br>| 5.00% | 08/01/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2604001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325000 | Chattanooga TN Hlth Eductnl & Hsg Fac Brd Rev Ref Stdt Hsg CDFI Phase I<br>| 5.00% | 10/01/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865000 | Met Govt Nashville & Davidson Cnty TN Elec Rev Sys, Ser A<br>| 5.00% | 05/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;948640 |
| &nbsp;&nbsp;&nbsp;&nbsp;1385000 | Met Govt Nashville & Davidson Cnty TN Hlth & Eductnl Fac Brd Ref Lipscomb Univ Proj, Ser A <br>| 5.00% | 10/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1432989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | Met Govt Nashville & Davidson Cnty TN Hlth & Eductnl Fac Brd Ref Trevecca Nazarene Univ Proj <br>| 5.00% | 10/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | Met Govt Nashville & Davidson Cnty TN Hlth & Eductnl Fac Brd Ref Trevecca Nazarene Univ Proj <br>| 5.00% | 10/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | Met Govt Nashville & Davidson Cnty TN Hlth & Eductnl Fac Brd Ref Trevecca Nazarene Univ Proj <br>| 5.00% | 10/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715945 |
| &nbsp;&nbsp;&nbsp;&nbsp;3000000 | Met Govt Nashville & Davidson Cnty TN, Ser A<br>| 4.00% | 01/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3157246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | Met Nashville TN Arpt Auth Arpt Rev, Ser B, AMT<br>| 5.25% | 07/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;687081 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | Met Nashville TN Arpt Auth Arpt Rev, Ser B, AMT<br>| 5.50% | 07/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;857983 |
| &nbsp;&nbsp;&nbsp;&nbsp;4000000 | TN Energy Acq Corp Cmdy Proj Rev, Ser A (Mandatory put 11/01/31)<br>| 5.00% | 05/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4292188 |
| &nbsp;&nbsp;&nbsp;&nbsp;5435000 | TN St Energy Acq Corp Gas Rev Proj, Ser A (Mandatory put 05/01/23)<br>| 4.00% | 05/01/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5440813 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **Tennessee (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;$5000000 | TN St Sch Bond Auth Hgr Eductnl Facs 2nd Prog Ref, Ser B (Pre-refunded maturity 11/01/25)<br>| 5.00% | 11/01/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5347161 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28234438 |
|  | **Texas – 6.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415000 | Arlington TX Hgr Edu Fin Corp Edu Rev<br>| 5.00% | 08/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;478847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525000 | Arlington TX Hgr Edu Fin Corp Edu Rev<br>| 5.00% | 08/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565000 | Arlington TX Hgr Edu Fin Corp Edu Rev<br>| 4.00% | 08/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;587163 |
| &nbsp;&nbsp;&nbsp;&nbsp;1645000 | Arlington TX Hgr Edu Fin Corp Edu Rev Ref Legacy Trad Schs TX Proj, Ser A<br>| 4.13% | 02/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1289515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 | Austin TX Arpt Sys Rev, AMT<br>| 5.00% | 11/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | Austin TX Arpt Sys Rev, AMT<br>| 5.00% | 11/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392011 |
| &nbsp;&nbsp;&nbsp;&nbsp;4150000 | Austin TX Arpt Sys Rev, Ser B, AMT<br>| 5.00% | 11/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4467489 |
| &nbsp;&nbsp;&nbsp;&nbsp;3735000 | Austin TX Ref<br>| 3.15% | 09/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3791830 |
| &nbsp;&nbsp;&nbsp;&nbsp;4000000 | Austin TX Wtr & Wstwtr Sys Rev Ref<br>| 5.00% | 11/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4312522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910000 | Bexar Cnty Tx Rev Ref Tax Exempt Venue Proj<br>| 4.00% | 08/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;921536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | Brd of Managers TX Jt Guadalupe Cnty City of Seguin Hosp Mtg Ref<br>| 5.00% | 12/01/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605806 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305000 | Celina TX Spl Assmnt Rev Ref the Lakes at Mustang Ranch Pub Impt Dt Phase #1 Proj, BAM<br>| 4.00% | 09/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | Centrl TX Regl Mobility Auth Rev Ref<br>| 5.00% | 01/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850000 | Centrl TX Regl Mobility Auth Rev Sr Lien, Ser A (Pre-refunded maturity 07/01/25)<br>| 5.00% | 01/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;905338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130000 | Centrl TX Regl Mobility Auth Rev, Ser B<br>| 5.00% | 01/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | Centrl TX Regl Mobility Auth Rev, Ser B<br>| 5.00% | 01/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445000 | Centrl TX Regl Mobility Auth Rev, Ser B<br>| 5.00% | 01/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | Centrl TX Regl Mobility Auth Rev, Ser B<br>| 4.00% | 01/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640000 | Centrl TX Regl Mobility Auth Rev, Ser B<br>| 4.00% | 01/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Clifton TX Hgr Edu Fin Corp Edu Rev Idea Pub Schs<br>| 5.00% | 08/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645000 | Clifton TX Hgr Edu Fin Corp Edu Rev, Ser A<br>| 4.00% | 12/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;646207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415000 | Corpus Christi TX Util Sys Rev Junior Lien, Ser B<br>| 5.00% | 07/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483636 |
| &nbsp;&nbsp;&nbsp;&nbsp;1300000 | Dallas TX Area Rapid Transit Sales Tax Rev Ref, Ser A<br>| 4.00% | 12/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1390478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490000 | Dallas TX Hotel Occupancy Tax Rev Ref<br>| 4.00% | 08/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490206 |
| &nbsp;&nbsp;&nbsp;&nbsp;4350000 | Dallas-Fort Worth TX Intl Arpt Rev Ref, Ser A<br>| 4.00% | 11/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4481161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | El Paso TX Ref, Ser A<br>| 4.00% | 08/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;518067 |
| &nbsp;&nbsp;&nbsp;&nbsp;1170000 | Galveston Cnty TX Muni Util Dist #54 Ref<br>| 2.50% | 12/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1033541 |
| &nbsp;&nbsp;&nbsp;&nbsp;1500000 | Galveston TX Indep Sch Dist<br>| 5.00% | 02/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1708017 |
| &nbsp;&nbsp;&nbsp;&nbsp;1750000 | Galveston TX Indep Sch Dist<br>| 5.00% | 02/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1980862 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Harris Cnty TX Cultural Edu Facs Fin Corp Med Facs Rev Ref Baylor Clg of Med<br>| 4.00% | 11/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1038518 |
| &nbsp;&nbsp;&nbsp;&nbsp;1100000 | Harris Cnty TX Ref Sr Lien Toll Road, Ser B<br>| 5.00% | 08/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1161074 |
| &nbsp;&nbsp;&nbsp;&nbsp;2600000 | Harris Cnty TX Ref Sr Lien, Ser A<br>| 5.00% | 08/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2791943 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | Harris Cnty TX Toll Road Rev Ref, Ser A<br>| 3.00% | 08/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1787240 |
| &nbsp;&nbsp;&nbsp;&nbsp;1500000 | Hidalgo Cnty TX Regl Mobility Auth Toll & Vehcl Registration Sr Lien, Ser A <br>| 4.00% | 12/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1447766 |
| &nbsp;&nbsp;&nbsp;&nbsp;1770000 | Houston TX Arpt Sys Rev Ref United Airls Inc Terminal E Proj, Ser A, AMT<br>| 5.00% | 07/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1819265 |
| &nbsp;&nbsp;&nbsp;&nbsp;2750000 | Houston TX Arpt Sys Rev Ref United Airls Inc Terminal Impt Proj, Ser B-2, AMT<br>| 5.00% | 07/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2826884 |
| &nbsp;&nbsp;&nbsp;&nbsp;2500000 | Houston TX Arpt Sys Rev Sub, Ser A, AMT<br>| 4.00% | 07/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2470818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | Houston TX Arpt Sys Rev Sub, Ser A, AMT<br>| 4.00% | 07/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246388 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | Houston TX Arpt Sys Rev United Airls Inc Terminal Impt Proj, Ser B-1, AMT<br>| 4.00% | 07/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1802517 |
| &nbsp;&nbsp;&nbsp;&nbsp;1730000 | Houston TX Cmnty Clg Ref<br>| 4.00% | 02/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1757889 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **Texas (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;$1000000 | Houston TX Hotel Occupancy Tax & Spl Rev Ref Convention & Entertainment Facs Dept <br>| 5.00% | 09/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1112410 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Houston TX Util Sys Rev Ref 1st Lien Subord, Ser D<br>| 5.00% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1069760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | Imperial Redev Dist TX, BAM<br>| 4.50% | 05/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | Imperial Redev Dist TX, BAM<br>| 4.50% | 05/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | Justin TX Spl Assmnt Rev Timberbrook Pub Imp Dt #1 Imp Area #2 Proj (c)<br>| 3.38% | 09/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;554914 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Kyle TX Spl Assmnt Rev 6 Creeks Pid #1 (c)<br>| 4.63% | 09/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430000 | La Vernia TX Hgr Edu Fin Corp Edu Rev Meridian World Sch (c)<br>| 4.35% | 08/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441026 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410000 | La Vernia TX Hgr Edu Fin Corp Edu Rev Meridian World Sch, Ser A (c)<br>| 4.20% | 08/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419870 |
| &nbsp;&nbsp;&nbsp;&nbsp;1250000 | Laredo TX Cmnty Clg Dist Combined Fee Rev Ref, BAM<br>| 4.00% | 08/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1322752 |
| &nbsp;&nbsp;&nbsp;&nbsp;1290000 | Leander TX Spl Assmnt Rev Crystal Springs Pub Impt Dist Proj Accd Inv (e)<br>| 5.13% | 09/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1299224 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Leonard TX Indep Sch Dist, BAM<br>| 5.00% | 02/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1114880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Liberty Hill TX Indep Sch Dist Ref<br>| 5.00% | 08/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545056 |
| &nbsp;&nbsp;&nbsp;&nbsp;3795000 | Liberty Hill TX Indep Sch Dist Ref, Ser A<br>| 5.00% | 02/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4430809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | Lower Colorado River TX Auth Trans Contract Rev Ref LCRA Trans Svcs Corp Proj<br>| 5.00% | 05/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;752036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | Lower Colorado River TX Auth Trans Contract Rev Ref LCRA Trans Svcs Corp Proj<br>| 5.00% | 05/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610000 | Lower Colorado River TX Auth Trans Contract Rev Ref LCRA Trans Svcs Corp Proj<br>| 5.00% | 05/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;648683 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Lower Colorado River TX Auth Trans Contract Rev Ref LCRA Trans Svcs Corp Proj<br>| 5.00% | 05/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1056851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370000 | Mission TX Ctfs Oblig, AGM<br>| 5.00% | 02/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412591 |
| &nbsp;&nbsp;&nbsp;&nbsp;1570000 | N Fort Bend TX Wtr Auth Wtr Sys Rev Ref, BAM<br>| 3.00% | 12/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1497360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | N Parkway Muni Mgmt Dist #1 TX Contract Rev Legacy Hills Pub Impt Dt Phase #1A-1B Impts (c)<br>| 4.25% | 09/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;609009 |
| &nbsp;&nbsp;&nbsp;&nbsp;2003000 | N Parkway Muni Mgmt Dist #1 TX Spl Assmnt Rev Major Impts Proj (c)<br>| 4.75% | 09/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1919227 |
| &nbsp;&nbsp;&nbsp;&nbsp;2250000 | N TX Tollway Auth Rev Ref 2nd Tier, Ser B<br>| 5.00% | 01/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2397061 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | N TX Tollway Auth Rev Ref First Tier Bonds, Ser A<br>| 5.25% | 01/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1156491 |
| &nbsp;&nbsp;&nbsp;&nbsp;5950000 | N TX Tollway Auth Rev Ref First Tier Bonds, Ser A<br>| 4.00% | 01/02/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6028260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170000 | N TX Tollway Auth Rev Ref Second Tier, Ser B<br>| 5.00% | 01/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191642 |
| &nbsp;&nbsp;&nbsp;&nbsp;1525000 | N TX Tollway Auth Rev Ref Sys Second Tier, Ser B<br>| 5.00% | 01/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1557482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | N TX Tollway Auth Rev Ref, Ser A<br>| 5.00% | 01/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266202 |
| &nbsp;&nbsp;&nbsp;&nbsp;1415000 | New Hope Cultural Edu Facs Fin Corp TX Retmnt Fac Rev Ref Longhorn Vlg Proj<br>| 5.00% | 01/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1415436 |
| &nbsp;&nbsp;&nbsp;&nbsp;1200000 | New Hope Cultural Edu Facs Fin Corp TX Retmnt Fac Rev Ref Longhorn Vlg Proj<br>| 5.00% | 01/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1194832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | New Hope Cultural Edu Facs Fin Corp TX Retmnt Fac Rev Ref Wesleyan Homes Inc Proj Fin Corp<br>| 5.00% | 01/01/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194077 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | New Hope Cultural Edu Facs Fincorp TX Edu Rev Ref Jubilee Acad Ctr (c)<br>| 4.00% | 08/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1810464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | Newark Hgr Edu Fin Corp TX Edu Rev Hughen Ctr Inc Proj, Ser A<br>| 5.00% | 08/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463410 |
| &nbsp;&nbsp;&nbsp;&nbsp;2010000 | San Antonio TX Wtr Rev Ref Wtr Sys Junior Lien, Ser C<br>| 5.00% | 05/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2250316 |
| &nbsp;&nbsp;&nbsp;&nbsp;2690000 | Tarrant Cnty TX Cultural Edu Facs Fin Corp Hosp Rev Ref Baylor Scott & White Hlth Proj, Ser A <br>| 5.00% | 11/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2804847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | Tarrant Cnty TX Cultural Edu Facs Fin Corp Hosp Rev Ref Cook Children's Med Ctr<br>| 4.00% | 12/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;773740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | Tarrant Cnty TX Cultural Edu Facs Fin Corp Hosp Rev Var Baylor Scott & White Hlth Proj, Ser F (Mandatory put 11/15/30) <br>| 5.00% | 11/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;857254 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **Texas (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;$4080000 | Tarrant Cnty TX Cultural Edu Facs Fin Corp Rev Christus Hlth, Ser B<br>| 5.00% | 07/01/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4257136 |
| &nbsp;&nbsp;&nbsp;&nbsp;1635000 | TX St Muni Gas Acq & Sply Corp I Gas Sply Rev Sr Lien, Ser A<br>| 5.25% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1745772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | TX St Muni Gas Acq & Sply Corp III Gas Sply Rev Ref<br>| 5.00% | 12/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265848 |
| &nbsp;&nbsp;&nbsp;&nbsp;5000000 | TX St Priv Activity Bond Surface Transprtn Corp Rev Ref Sr N Tarrant Express Managed Lanes Proj, Ser A <br>| 5.00% | 12/31/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5362112 |
| &nbsp;&nbsp;&nbsp;&nbsp;2750000 | TX St Priv Activity Bond Surface Transprtn Corp Rev Segment 3C Proj, AMT<br>| 5.00% | 06/30/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2787484 |
| &nbsp;&nbsp;&nbsp;&nbsp;7510000 | TX St Transprtn Commn Central TX Turnpike Sys Rev Ref, Ser A<br>| 5.00% | 08/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8209793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865000 | TX St Transprtn Commn Central TX Turnpike Sys Rev Ref, Ser B<br>| 5.00% | 08/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;888444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;785000 | TX St Wtr Dev Brd St Wtr Implementation Fund, Ser A<br>| 5.00% | 04/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;879667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | TX St Wtr Dev Brd St Wtr Implementation Rev Fund for TX<br>| 4.00% | 10/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263865 |
| &nbsp;&nbsp;&nbsp;&nbsp;2175000 | TX Wtr Dev Brd St Wtr Implementation Rev Fund Master Trust<br>| 5.00% | 10/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2640786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | Univ of Houston TX Univ Revs Ref, Ser A<br>| 5.00% | 02/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162262 |
| &nbsp;&nbsp;&nbsp;&nbsp;1900000 | Univ of Houston TX Univ Revs Ref, Ser A<br>| 5.00% | 02/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025322 |
| &nbsp;&nbsp;&nbsp;&nbsp;1560000 | Uptown Dev Auth TX Incr Contract Rev, Ser A<br>| 5.00% | 09/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1603865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Viridian TX Muni Mgmt Dist Ref Util Impt, BAM<br>| 6.00% | 12/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155000 | Viridian TX Muni Mgmt Dist Road Impt, BAM<br>| 5.00% | 12/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | Viridian TX Muni Mgmt Dist Util Impt, BAM<br>| 5.00% | 12/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127666 |
| &nbsp;&nbsp;&nbsp;&nbsp;1605000 | W Harris Cnty TX Regl Wtr Auth Wtr Sys Rev Ref, BAM<br>| 3.00% | 12/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1472884 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;131902696 |
|  | **Utah – 1.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4400000 | Black Desert Pub Infra Dist Sr Bonds, Ser A (c)<br>| 4.00% | 03/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3409279 |
| &nbsp;&nbsp;&nbsp;&nbsp;1370000 | Grand Cnty Sch Dist Loc Bldg Auth UT, AGM<br>| 5.00% | 12/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1456101 |
| &nbsp;&nbsp;&nbsp;&nbsp;1400000 | Grand Cnty Sch Dist Loc Bldg Auth UT, AGM<br>| 5.00% | 12/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1484801 |
| &nbsp;&nbsp;&nbsp;&nbsp;1515000 | Grand Cnty Sch Dist Loc Bldg Auth UT, AGM<br>| 5.00% | 12/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1604617 |
| &nbsp;&nbsp;&nbsp;&nbsp;4000000 | Intermountain Pwr Agy UT Pwr Sply Rev Ref, Ser A<br>| 5.00% | 07/01/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4494624 |
| &nbsp;&nbsp;&nbsp;&nbsp;1750000 | Military Installation Dev Auth UT Tax Allocation Rev, Ser A-1<br>| 4.00% | 06/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1348661 |
| &nbsp;&nbsp;&nbsp;&nbsp;2750000 | Military Installation Dev Auth UT Tax Allocation Rev, Ser A-2<br>| 4.00% | 06/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2083942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | UT St Chrt Sch Fin Auth Chrt Sch Rev Ref Quest Acdmy<br>| 5.00% | 04/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325000 | UT St Chrt Sch Fin Auth Chrt Sch Rev Ref Quest Acdmy<br>| 5.00% | 04/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336774 |
| &nbsp;&nbsp;&nbsp;&nbsp;1590000 | UT St Chrt Sch Fin Auth Chrt Sch Rev Wallace Stegner Acdmy Proj, Ser A (c)<br>| 5.00% | 06/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1463344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | UT St Telecommunication Open Infra Agy Sales Tax Ref<br>| 5.25% | 06/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900931 |
| &nbsp;&nbsp;&nbsp;&nbsp;4875000 | UT St Transit Auth Sales Tax Rev Ref Sub, BAM<br>| 5.00% | 12/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5320463 |
| &nbsp;&nbsp;&nbsp;&nbsp;1145000 | UT St Transit Auth Sales Tax Rev Ref Sub, Ser A (Pre-refunded maturity 06/15/25)<br>| 5.00% | 06/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1220104 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25546074 |
|  | **Vermont – 0.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550000 | Burlington VT Ref Lakeview Garage Proj, Ser A, COPS<br>| 5.00% | 12/01/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;574533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;745000 | VT St Econ Dev Auth Mtge Rev Ref Wake Robin Corp Proj, Ser A<br>| 5.00% | 05/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585000 | VT St Econ Dev Auth Mtge Rev Ref Wake Robin Corp Proj, Ser A<br>| 5.00% | 05/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;589485 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | VT St Econ Dev Auth Solid Wst Disp Rev Var Casella Wst Sys Inc Remk, AMT (Mandatory put 04/03/28) (c)<br>| 4.63% | 04/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1975922 |
| &nbsp;&nbsp;&nbsp;&nbsp;2500000 | VT St Eductnl & Hlth Bldgs Fing Agy Rev Ref Univ of VT Med Ctr, Ser A<br>| 5.00% | 12/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2658507 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6548897 |
|  | **Virginia – 1.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Chesapeake VA Hosp Auth Hosp Fac Rev Ref Chesapeake Regl Med Ctr<br>| 4.00% | 07/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1031826 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **Virginia (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;$1365000 | Fairfax Cnty VA Econ Dev Auth Fac Rev Green Bond Cnty Fac Proj, Ser A<br>| 5.00% | 10/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1559767 |
| &nbsp;&nbsp;&nbsp;&nbsp;4590000 | Loudoun Cnty VA, Ser A<br>| 4.00% | 12/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4824341 |
| &nbsp;&nbsp;&nbsp;&nbsp;1100000 | Norfolk VA Redev & Hsg Auth Rev Ft Norfolk Retmnt Cmnty Harbors Edge Proj, Ser A <br>| 4.00% | 01/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024988 |
| &nbsp;&nbsp;&nbsp;&nbsp;5595000 | Richmond VA Pub Util Rev, Ser A<br>| 4.00% | 01/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5788482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | VA Clg Bldg Auth Eductnl Facs Rev Ref Regent Univ Proj<br>| 4.00% | 06/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | VA Clg Bldg Auth Eductnl Facs Rev Ref Regent Univ Proj<br>| 4.00% | 06/01/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305224 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | VA St Pub Bldg Auth Pub Facs Rev, Ser C, AMT<br>| 5.00% | 08/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2124675 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | VA St Res Auth Infra Rev Ref Infra VA Pooled Fing Prog, Ser C<br>| 4.00% | 11/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1050386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | VA St Small Busn Fing Auth Rsdl Fac Care Rev Ref Lifespire of VA<br>| 4.00% | 12/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720239 |
| &nbsp;&nbsp;&nbsp;&nbsp;1570000 | Virginia Beach VA Dev Auth Rsdl Care Fac Rev Ref Westminster Canterbury on Chesapeake Bay<br>| 5.00% | 09/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1604416 |
| &nbsp;&nbsp;&nbsp;&nbsp;1210000 | Virginia Beach VA Dev Auth Rsdl Care Fac Rev Ref Westminster Canterbury on Chesapeake Bay<br>| 5.00% | 09/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1221677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275000 | Virginia Beach VA Dev Auth Rsdl Care Fac Rev Ref Westminster Canterbury on Chesapeake Bay<br>| 5.00% | 09/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275652 |
| &nbsp;&nbsp;&nbsp;&nbsp;1185000 | Wstrn VA Regl Jail Auth Regl Jail Facs Rev Prerefunded Ref (Pre-refunded maturity 12/01/26)<br>| 5.00% | 12/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300384 |
| &nbsp;&nbsp;&nbsp;&nbsp;1180000 | Wstrn VA Regl Jail Auth Regl Jail Facs Rev Unrefunded Ref<br>| 5.00% | 12/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1276867 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24298520 |
|  | **Washington – 2.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1235000 | Benton Cnty WA Pub Util Dist #1 Ref<br>| 4.00% | 11/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1277607 |
| &nbsp;&nbsp;&nbsp;&nbsp;1250000 | Centrl Puget Sound WA Regl Transit Auth Sales & Use Tax Green Bond Ref & Impt, Ser S-1 (Pre-refunded maturity 11/01/25) <br>| 5.00% | 11/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1343703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;945000 | Centrl Puget Sound WA Regl Transit Auth Sales Tax & Motor Ve Green Bond, Ser S-1 <br>| 5.00% | 11/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1037135 |
| &nbsp;&nbsp;&nbsp;&nbsp;1090000 | Centrl Puget Sound WA Regl Transit Auth Sales Tax & Motor Ve Green Bond, Ser S-1 <br>| 5.00% | 11/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1172654 |
| &nbsp;&nbsp;&nbsp;&nbsp;1250000 | Energy NW WA Elec Rev Ref Columbia Generating Sys, Ser A<br>| 5.00% | 07/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1309118 |
| &nbsp;&nbsp;&nbsp;&nbsp;1500000 | FYI Properties WA Lease Rev Ref Green Bond WA Dis Proj<br>| 5.00% | 06/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1632337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530000 | Kalispel Tribe of Indians Priority Dist WA Rev, Ser A (c)<br>| 5.00% | 01/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;553970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585000 | Pierce Cnty WA Sch Dist #403 Bethel<br>| 5.00% | 12/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662494 |
| &nbsp;&nbsp;&nbsp;&nbsp;2445000 | Port of Seattle WA Rev Ref Intermediate Lein Priv Activity, Ser C, AMT<br>| 5.00% | 08/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2761406 |
| &nbsp;&nbsp;&nbsp;&nbsp;1725000 | Port of Seattle WA Rev Ref Intermediate Lein Priv Activity, Ser C, AMT<br>| 5.00% | 08/01/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1824238 |
| &nbsp;&nbsp;&nbsp;&nbsp;5000000 | Port of Seattle WA Rev Ref Intermediate Lien Priv Activity, Ser C, AMT<br>| 5.00% | 08/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5414054 |
| &nbsp;&nbsp;&nbsp;&nbsp;1895000 | Port of Seattle WA Rev Ref Intermediate Lien, Ser B, AMT<br>| 5.00% | 08/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2115397 |
| &nbsp;&nbsp;&nbsp;&nbsp;2315000 | Port of Seattle WA Rev Ref Intermediate Lien, Ser B, AMT<br>| 5.00% | 08/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2547378 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | Port of Seattle WA Rev Ref Intermediate Lien, Ser B, AMT<br>| 5.00% | 08/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2188479 |
| &nbsp;&nbsp;&nbsp;&nbsp;3000000 | Seattle WA Drain & Wstwtr Rev Ref<br>| 4.00% | 07/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3104141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270000 | Skagit Cnty WA Pub Hosp Dist #1 Ref & Impt Skagit Regl Hlth<br>| 4.00% | 12/01/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272744 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Snohomish Cnty WA Hsg Auth<br>| 5.00% | 04/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552994 |
| &nbsp;&nbsp;&nbsp;&nbsp;1760000 | WA St Convention Ctr Pub Facs Dist Sub<br>| 4.00% | 07/01/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1419885 |
| &nbsp;&nbsp;&nbsp;&nbsp;3240000 | WA St Convention Ctr Pub Facs Dist Sub for Exchange Pur Green Bond 2021 1st Priority, Ser B <br>| 4.00% | 07/01/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2613878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525000 | WA St Hgr Edu Facs Auth Seattle Univ Proj Rev<br>| 4.00% | 05/01/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305000 | WA St Hlthcare Facs Auth Seattle Cancer Care Alliance (c)<br>| 5.00% | 12/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 | WA St Hlthcare Facs Auth Seattle Cancer Care Alliance (c)<br>| 5.00% | 12/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503407 |
| &nbsp;&nbsp;&nbsp;&nbsp;2100000 | WA St Hsg Fin Commn Nonprofit Hsg Rev Heron's Key, Ser A (Pre-refunded maturity 07/01/25) (c)<br>| 7.00% | 07/01/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2292863 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **Washington (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$50000 | WA St Hsg Fin Commn Nonprofit Hsg Rev Ref Emerald Heights Proj<br>| 5.00% | 07/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$50405 |
| &nbsp;&nbsp;&nbsp;&nbsp;2439824 | WA St Hsg Fin Commn Social Ctf, Ser A-1<br>| 3.50% | 12/20/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2301062 |
| &nbsp;&nbsp;&nbsp;&nbsp;2500000 | WA St Ref R-2015D<br>| 5.00% | 07/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2623066 |
| &nbsp;&nbsp;&nbsp;&nbsp;3000000 | WA St Various Purp, Ser A<br>| 5.50% | 08/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3048488 |
| &nbsp;&nbsp;&nbsp;&nbsp;4000000 | WA St, Ser A-3 Bid Grp 3<br>| 5.00% | 08/01/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4526577 |
| &nbsp;&nbsp;&nbsp;&nbsp;4000000 | WA St, Ser B<br>| 5.00% | 02/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4174824 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | WA St, Ser C<br>| 5.00% | 02/01/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2244123 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56420008 |
|  | **West Virginia – 0.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5000000 | Kanawha Cnty WV Cnty Commn Stdt Hsg Rev WV Univ Fndtn Proj (Pre-refunded maturity 07/01/23) (c)<br>| 6.75% | 07/01/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5085142 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | S Charleston WV Spl Dist Excise Tax Ref S Charleston Park Place Proj, Ser A (c)<br>| 4.25% | 06/01/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;808998 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | WV St Econ Dev Auth Sol Wst Disp Facs Var Sr Arch Res Proj, AMT (Mandatory put 07/01/25)<br>| 5.00% | 07/01/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1007026 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6901166 |
|  | **Wisconsin – 2.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825000 | Fond Du Lac WI Sch Dist, Ser A, BAM<br>| 4.00% | 04/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;869883 |
| &nbsp;&nbsp;&nbsp;&nbsp;1255000 | Fond Du Lac WI Sch Dist, Ser A, BAM<br>| 4.00% | 04/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1312938 |
| &nbsp;&nbsp;&nbsp;&nbsp;1375000 | Pub Fin Auth WI Chrt Sch Rev Eno River Acdmy Proj, Ser A (c)<br>| 5.00% | 06/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1274630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Pub Fin Auth WI Chrt Sch Rev Founders of Acdmy Las Vegas Proj, Ser A (c)<br>| 5.00% | 07/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473264 |
| &nbsp;&nbsp;&nbsp;&nbsp;1240000 | Pub Fin Auth WI Chrt Sch Rev Ltd American Prep Acdmy Las Vegas Proj, Ser A (c)<br>| 4.20% | 07/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1219229 |
| &nbsp;&nbsp;&nbsp;&nbsp;1250000 | Pub Fin Auth WI Chrt Sch Rev Ltd American Prep Acdmy Las Vegas Proj, Ser A (c)<br>| 5.13% | 07/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1254646 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | Pub Fin Auth WI Edu Rev Coral Acdmy of Science Las Vegas, Ser A<br>| 4.00% | 07/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1662973 |
| &nbsp;&nbsp;&nbsp;&nbsp;1285000 | Pub Fin Auth WI Edu Rev Ref Mountain Island Chrt Sch Ltd<br>| 4.00% | 07/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1290063 |
| &nbsp;&nbsp;&nbsp;&nbsp;1730000 | Pub Fin Auth WI Edu Rev Ref Mountain Island Chrt Sch Ltd<br>| 5.00% | 07/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1744969 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | Pub Fin Auth WI Edu Rev Ref Mountain Island Chrt Sch Ltd<br>| 5.00% | 07/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2002583 |
| &nbsp;&nbsp;&nbsp;&nbsp;1275000 | Pub Fin Auth WI Edu Rev Triad Eductnl Sers Inc, Ser A<br>| 4.00% | 06/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1116244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425000 | Pub Fin Auth WI Eductnl Rev Piedmont Cmnty Chrt Sch<br>| 5.00% | 06/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450992 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Pub Fin Auth WI Exempt Facs Rev Ref Celanese Proj, Ser B, AMT<br>| 5.00% | 12/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020548 |
| &nbsp;&nbsp;&nbsp;&nbsp;1250000 | Pub Fin Auth WI Hosp Rev Ref Renown Regl Med Ctr Proj, Ser A<br>| 4.00% | 06/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1280468 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | Pub Fin Auth WI Hosp Rev Ref Renown Regl Med Ctr Proj, Ser A<br>| 4.00% | 06/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1988484 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | Pub Fin Auth WI Retmnt Cmntys Rev Acts Retmnt Life Cmntys Inc Oblig Grp, Ser A<br>| 4.00% | 11/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550752 |
| &nbsp;&nbsp;&nbsp;&nbsp;1450000 | Pub Fin Auth WI Retmnt Fac Rev Ref Penick Vlg Oblig Grp (c)<br>| 5.00% | 09/01/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1170204 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Pub Fin Auth WI Retmnt Fac Rev Southminster (c)<br>| 5.00% | 10/01/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;892156 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | Pub Fin Auth WI Rev Green Bond Fargo Moorhead Met Area Flood Mgmnt, AMT<br>| 4.00% | 03/31/56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1633458 |
| &nbsp;&nbsp;&nbsp;&nbsp;1500000 | Pub Fin Auth WI Rev Sr Proton Intl AR LLC, Ser A (c)<br>| 6.50% | 01/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1227713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | Pub Fin Auth WI Rev TX Biomedical Rsrch Institute Proj, Ser A<br>| 4.00% | 06/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;584988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535000 | Pub Fin Auth WI Rev TX Biomedical Rsrch Institute Proj, Ser A<br>| 4.00% | 06/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;517303 |
| &nbsp;&nbsp;&nbsp;&nbsp;1595000 | Pub Fin Auth WI Stdt Hsg Rev Nc A&T Real Estate Fdtn LLC Proj, Ser B<br>| 5.00% | 06/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1605209 |
| &nbsp;&nbsp;&nbsp;&nbsp;1300000 | WI St Gen Fund Annual Approp Rev Ref, Ser B (Pre-refunded maturity 06/01/26)<br>| 5.00% | 05/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1413952 |

---

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **Wisconsin (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$750000 | WI St Hlth & Eductnl Facs Auth Rev Bellin Memorial Hosp Inc, Ser A<br>| 5.00% | 12/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$816271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | WI St Hlth & Eductnl Facs Auth Rev Marshfield Clinic Hlth Sys, Ser A<br>| 4.00% | 02/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100461 |
| &nbsp;&nbsp;&nbsp;&nbsp;3650000 | WI St Hlth & Eductnl Facs Auth Rev Ref Ascension Hlth Credit Grp, Ser A<br>| 5.00% | 11/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3812086 |
| &nbsp;&nbsp;&nbsp;&nbsp;1780000 | WI St Hlth & Eductnl Facs Auth Rev Ref Beloit Hlth Sys Inc<br>| 4.00% | 07/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1802997 |
| &nbsp;&nbsp;&nbsp;&nbsp;1135000 | WI St Hlth & Eductnl Facs Auth Rev Ref Froedtert Hlth Inc Oblg, Ser A<br>| 4.00% | 04/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1124525 |
| &nbsp;&nbsp;&nbsp;&nbsp;1175000 | WI St Hlth & Eductnl Facs Auth Rev Ref Prohealth Care Oblig Grp<br>| 5.00% | 08/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1212950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | WI St Hlth & Eductnl Facs Auth Rev Ref Prohealth Care Oblig Grp<br>| 5.00% | 08/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | WI St Hlth & Eductnl Facs Auth Rev Ref Rogers Memorial Hosp Inc, Ser A<br>| 5.00% | 07/01/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;717160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435000 | WI St Hlth & Eductnl Facs Auth Rev St Johns Cmntys Inc Proj, Ser A (Pre-refunded maturity 09/15/23) <br>| 5.00% | 09/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441626 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | WI St Ref, Ser 3<br>| 4.00% | 11/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2092466 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40858146 |
|  | **Wyoming – 0.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1750000 | Consol Muni Elec Pwr Sys WY Jt Pwrs Brd Sys Jt Pwrs Brd Ref Electrical Sys Proj<br>| 5.25% | 06/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2007461 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Consol Muni Elec Pwr Sys WY Jt Pwrs Brd Sys Jt Pwrs Brd Ref Electrical Sys Proj<br>| 5.25% | 06/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1140954 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3148415 |

---

---

| | |
|:---|:---|
| **Total Investments – 98.4%<br>**  | &nbsp;&nbsp;&nbsp;1907913406 |
| (Cost $1,933,343,433) |  |
| **Net Other Assets and Liabilities – 1.6%<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31030244 |
| **Net Assets – 100.0%<br>**  | $1938943650 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts** | **Position** | **Number of<br> Contracts** | **Expiration<br> Date** | **Notional<br> Value** | **Unrealized<br> Appreciation<br> (Depreciation)/<br> Value** |
| 10-Year U.S. Treasury Notes | Short | 216 | Mar 2023 | &nbsp;&nbsp;$(24735375) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(270000) |
| Ultra 10-Year U.S. Treasury Notes | Short | 845 | Mar 2023 | &nbsp;&nbsp;&nbsp;(102416641) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(752802) |
|  |  |  |  | $(127152016) | &nbsp;&nbsp;&nbsp;&nbsp;$(1022802) |

---

(a) Variable Rate Demand bond. Interest rate is reset periodically by the agent based on current market conditions.

(b) Pursuant to procedures adopted by the Trust's Board of Trustees, this security has been determined to be illiquid by First Trust Advisors L.P. (the "Advisor").

(c) This security, sold within the terms of a private placement memorandum, is exempt from registration upon resale under Rule 144A of the Securities Act of 1933, as amended (the
"1933 Act"), and may be resold in transactions exempt from registration, normally to qualified institutional buyers. Pursuant to procedures adopted by the Trust's Board of Trustees, this security has
been determined to be liquid by the Advisor. Although market instability can result in periods of increased overall market illiquidity, liquidity for each security is determined based on security specific factors and
assumptions, which require subjective judgment. At January 31, 2023, securities noted as such amounted to $116,677,885 or 6.0% of net assets.

(d) This issuer is in default and interest is not being accrued by the Fund.

(e) This security, sold within the terms of a private placement memorandum, is exempt from registration upon resale under Rule 144A of the 1933 Act, and may be resold
in transactions exempt from registration, normally to qualified institutional buyers. See Restricted Securities table.

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)
(f) When-issued security. The interest rate shown reflects the rate in effect at January 31, 2023. Interest will begin accruing on the security's first settlement date.

(g) Zero coupon bond.

---

| | |
|:---|:---|
| AGC | &nbsp;&nbsp;Assured Guaranty Corp. |
| AGM | &nbsp;&nbsp;Assured Guaranty Municipal Corp. |
| AMBAC | &nbsp;&nbsp;American Municipal Bond Assurance Corp. |
| AMT | &nbsp;&nbsp;Alternative Minimum Tax |
| BAM | &nbsp;&nbsp;Build America Mutual |
| BANS | &nbsp;&nbsp;Bond Anticipation Notes |
| CABS | &nbsp;&nbsp;Capital Appreciation Bonds |
| COPS | &nbsp;&nbsp;Certificates of Participation |
| GARVEE | &nbsp;&nbsp;Grant Anticipation Revenue Vehicle |
| NATL-RE | &nbsp;&nbsp;National Public Finance Guarantee Corp. |

---

------

#### Valuation Inputs
The Fund is subject to fair value accounting standards that define fair value, establish the framework for measuring fair value and provide a three-level hierarchy for fair valuation based upon the inputs to the valuation as of the measurement date. The three levels of the fair value hierarchy are as follows:

• Level 1 – Level 1 inputs are quoted prices in active markets for identical investments.

• Level 2 – Level 2 inputs are observable inputs, either directly or indirectly. (Quoted prices for similar investments, valuations based on interest rates and yield curves, or valuations derived
from observable market data.)

• Level 3 – Level 3 inputs are unobservable inputs that may reflect the reporting entity's own assumptions about the assumptions that market participants would use in
pricing the investment.

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in those investments.

A summary of the inputs used to value the Fund's investments as of January 31, 2023 is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** |
|  | **Total<br> Value at<br> 1/31/2023** | &nbsp;&nbsp;**Level 1<br> Quoted<br> Prices** | **Level 2<br> Significant<br> Observable<br> Inputs** | **Level 3<br> Significant<br> Unobservable<br> Inputs** |
| Municipal Bonds\*<br>| $1907913406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | $1907913406 | $— |
| **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** |
|  | **Total<br> Value at<br> 1/31/2023** | &nbsp;&nbsp;**Level 1<br> Quoted<br> Prices** | **Level 2<br> Significant<br> Observable<br> Inputs** | **Level 3<br> Significant<br> Unobservable<br> Inputs** |
| Futures Contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;$(1022802) | &nbsp;&nbsp;$(1022802) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | $— |

---

\* See Portfolio of Investments for state and territory breakout.

------

#### First Trust Managed Municipal ETF (FMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

------

#### Restricted Securities
As of January 31, 2023, the Fund held restricted securities as shown in the following table that the Advisor has deemed illiquid.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Security** | &nbsp;&nbsp;**Acquisition<br> Date** | &nbsp;&nbsp;**Principal<br> Value** | &nbsp;&nbsp;**Current Price** | &nbsp;&nbsp;**Carrying<br> Cost** | &nbsp;&nbsp;**Value** | &nbsp;&nbsp;**% of<br> Net<br> Assets** |
| Brookstone CDD FL Spl Assmnt Rev CDD, 3.88%, 11/01/23 | &nbsp;&nbsp;01/24/18 | &nbsp;&nbsp;&nbsp;&nbsp;$95000 | &nbsp;&nbsp;$99.73 | &nbsp;&nbsp;&nbsp;&nbsp;$95000 | &nbsp;&nbsp;&nbsp;&nbsp;$94748 | &nbsp;&nbsp;0.00% |
| IN St Fin Auth Rev Eductnl Facs Rock Creek Cmnty Acdmy Proj, Ser A, 5.25%, 07/01/28 | &nbsp;&nbsp;09/04/18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;101.45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;704846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710167 | &nbsp;&nbsp;0.04 |
| IN St Fin Auth Rev Eductnl Facs Rock Creek Cmnty Acdmy Proj, Ser A, 5.88%, 07/01/38 | &nbsp;&nbsp;09/04/18 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;101.50 | &nbsp;&nbsp;&nbsp;&nbsp;1003314 | &nbsp;&nbsp;&nbsp;&nbsp;1014963 | &nbsp;&nbsp;0.05 |
| Leander TX Spl Assmnt Rev Crystal Springs Pub Impt Dist Proj Accd Inv, 5.13%, 09/01/38 | &nbsp;&nbsp;05/04/18 | &nbsp;&nbsp;&nbsp;&nbsp;1290000 | &nbsp;&nbsp;&nbsp;&nbsp;100.72 | &nbsp;&nbsp;&nbsp;&nbsp;1290000 | &nbsp;&nbsp;&nbsp;&nbsp;1299224 | &nbsp;&nbsp;0.07 |
|  |  |  |  | &nbsp;&nbsp;$3093160 | &nbsp;&nbsp;$3119102 | &nbsp;&nbsp;0.16% |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** First Trust Exchange-Traded Fund III

- **b. Investment Company Act file number:** 811-22245

- **c. CIK number of Registrant:** 0001424212

- **d. LEI of Registrant:** 5493003Z20QMESC6XS29

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

  - **Street Address 1:** 120 East Liberty Drive, Suite 400

  - **City:** Wheaton

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60187

  - **Telephone number:** 630-765-8000

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

- **a. Name of Series:** First Trust Managed Municipal ETF

- **b. EDGAR series identifier (if any):** S000044373

- **c. LEI of Series:** 549300DKYQCUWNKGQV17

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1960181137.51

**Total Liabilities:** $21230842.15

**Net Assets:** $1938950295.36

**Cash Not Reported:** $27131996.19

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 2062.310319197705 | **1-Year:** 83573.617745443789 | **5-Year:** 486830.398728320675 | **10-Year:** 377536.899230949302 | **30-Year:** 54728.833101357251

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

- **3-Month:** 399.269837580288 | **1-Year:** 8310.826940635477 | **5-Year:** 31295.310530831456 | **10-Year:** 66802.618579823487 | **30-Year:** 81936.161036495986

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000138174 | 4.19%                | 0.14%                | 2.52%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2630290.20             | $79025862.55                               |
| Month 2  | $-2887854.59             | $-1592213.57                               |
| Month 3  | $-4108123.30             | $51735790.92                               |

**Designated Index Information**

- **Index Name:** The Fund's Designated Reference Portfolio is the Fund's Securities Portfolio.

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| METROPOLITAN NASHVILLE ARPT AUTH TENN                                     | MET NASHVILLE T 5.25% 07/01/35 | CUSIP: 592190QQ8<br>LEI: 549300IC0HNF8TDXEE63 | Long             | DBT              | MUN               | US        |    600000 | PA      | $687081.12    | 0.04%             | 2035-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN NASHVILLE ARPT AUTH TENN                                     | MET NASHVILLE TN 5.5% 07/01/38 | CUSIP: 592190QT2<br>LEI: 549300IC0HNF8TDXEE63 | Long             | DBT              | MUN               | US        |    750000 | PA      | $857982.98    | 0.04%             | 2038-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSN AUTH N Y                                              | MET TRANSPRTN AUTH 5% 11/15/34 | CUSIP: 59259Y5W5<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   2150000 | PA      | $2205119.34   | 0.11%             | 2034-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH                                          | MET WASHINGTON DC  5% 10/01/34 | CUSIP: 5926467F4<br>LEI: 7HERAVJJLN8J1DZ6AZ19 | Long             | DBT              | MUN               | US        |   5100000 | PA      | $5229460.95   | 0.27%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH                                          | MET WASHINGTON DC  5% 10/01/33 | CUSIP: 592647HN4<br>LEI: 7HERAVJJLN8J1DZ6AZ19 | Long             | DBT              | MUN               | US        |   3175000 | PA      | $3570916.15   | 0.18%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI CNTY OHIO                                                           | MIAMI CNTY OH HOSP 5% 08/01/33 | CUSIP: 593328FG7<br>LEI: 549300YAYSF4ZQH3JU54 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1095082.00   | 0.06%             | 2033-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA SCH FIN AUTH                                                   | CALIFORNIA SCH F 4.5% 07/01/26 | CUSIP: 13059TDH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1026008.00   | 0.05%             | 2026-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MIAMI CNTY OHIO                                                           | MIAMI CNTY OH HOSP 5% 08/01/36 | CUSIP: 593328FK8<br>LEI: 549300YAYSF4ZQH3JU54 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3204953.70   | 0.17%             | 2036-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FLA EDL FACS AUTH                                         | MIAMI-DADE CNTY FL 5% 04/01/31 | CUSIP: 59333ALU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2091365.20   | 0.11%             | 2031-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FLA INDL DEV AUTH                                         | MIAMI-DADE CNTY FL 5% 01/15/25 | CUSIP: 59333EDY6<br>LEI: 549300RM19LZY32DAU30 | Long             | DBT              | MUN               | US        |    445000 | PA      | $454109.77    | 0.02%             | 2025-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FLA                                                       | MIAMI-DADE CNTY FL 5% 10/01/40 | CUSIP: 59333PZ92<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   2625000 | PA      | $2739305.89   | 0.14%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA SCH FIN AUTH                                                   | CALIFORNIA SCH FIN 4% 07/01/26 | CUSIP: 13059TEB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $450268.27    | 0.02%             | 2026-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA SCH FIN AUTH                                                   | CALIFORNIA SCH FIN 5% 07/01/39 | CUSIP: 13059TFT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1325000 | PA      | $1388706.93   | 0.07%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI FLA                                                                 | MIAMI FL SPL OBLG 5% 01/01/35  | CUSIP: 593490LR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1265000 | PA      | $1391994.24   | 0.07%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST UNIV                                                          | MICHIGAN ST UNIV R 5% 02/15/34 | CUSIP: 594712UW9<br>LEI: 5493000C7JLSR3TV6F07 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1137412.10   | 0.06%             | 2034-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIDLAND MICH                                                              | MIDLAND MI PUBLIC  5% 05/01/35 | CUSIP: 597589BM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $738856.43    | 0.04%             | 2035-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIFFLINBURG AREA SCH DIST PA                                              | MIFFLINBURG PA ARE 4% 06/15/35 | CUSIP: 598575HG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $315796.32    | 0.02%             | 2035-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA SCH FIN AUTH                                                   | CALIFORNIA SCH FIN 5% 07/01/32 | CUSIP: 13059TGF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    460000 | PA      | $480463.97    | 0.02%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                                                             | CALIFORNIA ST 5% 09/01/32      | CUSIP: 13063CYN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $535327.65    | 0.03%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                                                             | CALIFORNIA ST 5% 08/01/32      | CUSIP: 13063DEF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $842332.43    | 0.04%             | 2032-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST ENTERPRISE DEV AUTH                                         | CALIFORNIA ST ENTE 4% 11/01/37 | CUSIP: 13067VAR5<br>LEI: 549300544P6FSHU1HB46 | Long             | DBT              | MUN               | US        |    225000 | PA      | $229427.51    | 0.01%             | 2037-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MIFFLINBURG AREA SCH DIST PA                                              | MIFFLINBURG PA ARE 4% 06/15/36 | CUSIP: 598575HH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $572747.95    | 0.03%             | 2036-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MIFFLINBURG AREA SCH DIST PA                                              | MIFFLINBURG PA ARE 4% 06/15/38 | CUSIP: 598575HK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    610000 | PA      | $623129.21    | 0.03%             | 2038-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST ENTERPRISE DEV AUTH                                         | CALIFORNIA ST ENTE 4% 11/01/49 | CUSIP: 13067VAV6<br>LEI: 549300544P6FSHU1HB46 | Long             | DBT              | MUN               | US        |   2190000 | PA      | $2163790.96   | 0.11%             | 2049-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST PUB WKS BRD                                                 | CALIFORNIA ST PUBL 4% 05/01/37 | CUSIP: 13068XBN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1049783.60   | 0.05%             | 2037-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STATEWIDE CMNTYS DEV AUTH                                      | CALIFORNIA STWD CM 5% 12/01/30 | CUSIP: 13080SMF8<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    350000 | PA      | $363860.32    | 0.02%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STATEWIDE CMNTYS DEV AUTH                                      | CALIFORNIA STWD CM 5% 04/01/30 | CUSIP: 13080SRU0<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    100000 | PA      | $108339.95    | 0.01%             | 2030-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTANA FAC FIN AUTH                                                      | MONTANA ST FAC FIN 4% 01/01/36 | CUSIP: 61204KMW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2088479.20   | 0.11%             | 2036-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY OHIO                                                      | MONTGOMERY CNTY OH 4% 08/01/37 | CUSIP: 613520NB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $408107.68    | 0.02%             | 2037-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL PLAINS ENERGY PROJ NEB                                            | CENTRL PLAINS ENER 5% 09/01/29 | CUSIP: 154871CE5<br>LEI: SVQOT7V5CPLIGNP5BE29 | Long             | DBT              | MUN               | US        |   5870000 | PA      | $6390143.64   | 0.33%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL PUGET SOUND WASH REGL TRAN AUTH                                   | CENTRL PUGET SOUND 5% 11/01/31 | CUSIP: 155048DD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    945000 | PA      | $1037134.57   | 0.05%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CSCDA CMNTY IMPT AUTH CALIF                                               | CSCDA CMNTY IMPT A 4% 07/01/56 | CUSIP: 126292AP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $788268.20    | 0.04%             | 2056-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH                                                   | CALIFORNIA ST MUNI 5% 11/15/27 | CUSIP: 13048T5N9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    680000 | PA      | $767824.11    | 0.04%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAWAII ST DEPT BUDGET & FIN                                               | HAWAII ST DEPT O 3.1% 05/01/26 | CUSIP: 419800LW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1732456.95   | 0.09%             | 2026-05-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY OHIO                                                      | MONTGOMERY CNTY OH 4% 08/01/41 | CUSIP: 613520NF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1385544.33   | 0.07%             | 2041-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA HIGHER ED & HEALTH AUTH                                | MONTGOMERY CNTY PA 4% 09/01/34 | CUSIP: 613603A58<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023022.70   | 0.05%             | 2034-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HEALTH & EDL FACS AUTH                                     | CONNECTICUT ST HLT 4% 07/01/42 | CUSIP: 20774Y3A3<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   5130000 | PA      | $5072361.89   | 0.26%             | 2042-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ETIWANDA SCH DIST CALIF CMNTY FACS DIST NO 9                              | ETIWANDA CA SCH DI 5% 09/01/35 | CUSIP: 29767TAS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2160000 | PA      | $2270509.92   | 0.12%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH                                                   | CALIFORNIA ST MUNI 5% 05/15/37 | CUSIP: 13048T7L1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    200000 | PA      | $213878.94    | 0.01%             | 2037-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH                                                   | CALIFORNIA ST MUNI 5% 06/30/28 | CUSIP: 13048VBK3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    650000 | PA      | $705154.91    | 0.04%             | 2028-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL PUGET SOUND WASH REGL TRAN AUTH                                   | CENTRL PUGET SOUND 5% 11/01/36 | CUSIP: 155048DJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1090000 | PA      | $1172654.37   | 0.06%             | 2036-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL TEX REGL MOBILITY AUTH                                            | CENTRL TX REGL MOB 5% 01/01/29 | CUSIP: 155498DM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $905338.06    | 0.05%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH                                                   | CALIFORNIA ST MUNI 4% 11/15/27 | CUSIP: 13049RBC9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    200000 | PA      | $195726.14    | 0.01%             | 2027-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH                                                   | CALIFORNIA ST M 5.25% 08/15/39 | CUSIP: 13049SBC7<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1515000 | PA      | $1547951.40   | 0.08%             | 2039-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CENTRAL TEX REGL MOBILITY AUTH                                            | CENTRL TX REGL MOB 5% 01/01/27 | CUSIP: 155498EE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $373256.17    | 0.02%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST                                                            | CONNECTICUT ST 4% 01/15/36     | CUSIP: 20772KHZ5<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |    500000 | PA      | $526197.20    | 0.03%             | 2036-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH                                                   | CALIFORNIA ST M 5.25% 08/15/49 | CUSIP: 13049SBE3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1805000 | PA      | $1837905.33   | 0.09%             | 2049-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH                                                   | CALIFORNIA ST MUNI 4% 05/15/40 | CUSIP: 13049YFM8<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $994169.60    | 0.05%             | 2040-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ETOWAH WTR & SWR AUTH GA                                                  | ETOWAH GA WTR & SW 4% 03/01/34 | CUSIP: 297860CY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $523739.20    | 0.03%             | 2034-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ETOWAH WTR & SWR AUTH GA                                                  | ETOWAH GA WTR & SW 4% 03/01/35 | CUSIP: 297860CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $362718.55    | 0.02%             | 2035-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST                                                            | CONNECTICUT ST 4% 01/15/37     | CUSIP: 20772KJA8<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5200798.50   | 0.27%             | 2037-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST                                                            | CONNECTICUT ST 4% 01/15/38     | CUSIP: 20772KJB6<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |   5695000 | PA      | $5863421.65   | 0.30%             | 2038-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HAWTHORNE CALIF CMNTY REDEV AGY                                           | HAWTHORNE CA CMNTY 5% 09/01/32 | CUSIP: 42051PAS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1360000 | PA      | $1449733.21   | 0.07%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HEMPSTEAD TOWN N Y LOC DEV CORP                                           | HEMPSTEAD TOWN NY  4% 07/01/40 | CUSIP: 424682LW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    715000 | PA      | $720740.81    | 0.04%             | 2040-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH                                                   | CALIFORNIA ST MUNI 4% 07/15/29 | CUSIP: 13050RAA0<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1984250.80   | 0.10%             | 2029-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA POLLUTION CTL FING AUTH                                        | CALIFORNIA ST POL V/R 08/01/23 | CUSIP: 130536PR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3000057.60   | 0.15%             | 2023-08-01      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST GOVERNMENTAL UTIL AUTH                                         | FLORIDA ST GOVTL U 4% 10/01/38 | CUSIP: 34281PUY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $846533.74    | 0.04%             | 2038-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FLYING HORSE MET DIST NO 2 COLO                                           | FLYING HORSE CO ME 5% 12/01/33 | CUSIP: 34407NAR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $439403.66    | 0.02%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP                                                      | FLORIDA ST DEV FIN 4% 07/01/29 | CUSIP: 34061UGN2<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    155000 | PA      | $156440.35    | 0.01%             | 2029-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST GOVERNMENTAL UTIL AUTH                                         | FLORIDA ST GOVTL U 4% 10/01/37 | CUSIP: 34281PUX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $747752.17    | 0.04%             | 2037-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA POLLUTION CTL FING AUTH                                        | CALIFORNIA ST  3.375% 07/01/25 | CUSIP: 130536QR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $996651.50    | 0.05%             | 2025-07-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA SCH FIN AUTH                                                   | CALIFORNIA ST SCH  5% 06/01/37 | CUSIP: 13058TFQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $516975.40    | 0.03%             | 2037-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA HIGHER ED & HEALTH AUTH                                | MONTGOMERY CNTY PA 4% 09/01/35 | CUSIP: 613603A66<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1013774.30   | 0.05%             | 2035-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE HEALTH & ED FACS AUTH                                       | NEW HAMPSHIRE ST H 5% 10/01/42 | CUSIP: 64461XDR3<br>LEI: 549300CNCK7OT82W5653 | Long             | DBT              | MUN               | US        |   2740000 | PA      | $2862002.34   | 0.15%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHATTANOOGA TENN HEALTH EDL & HSG FAC BRD                                 | CHATTANOOGA TN HLT 5% 10/01/23 | CUSIP: 162410DK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $327622.75    | 0.02%             | 2023-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH                                                 | COLORADO ST HLTH F 4% 01/01/40 | CUSIP: 19648FMB7<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |  10640000 | PA      | $10821945.06  | 0.56%             | 2040-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FOLSOM RANCH FING AUTH CALIF                                              | FOLSOM RANCH CA FI 4% 09/01/40 | CUSIP: 344414ED5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    170000 | PA      | $161594.37    | 0.01%             | 2040-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST                                                               | COLORADO ST COPS 5% 12/15/34   | CUSIP: 196711TX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2974048.50   | 0.15%             | 2034-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISVILLE & JEFFERSON CNTY KY METRO GOVT                                 | LOUISVILLE & JEFFE 5% 10/01/30 | CUSIP: 54659LBN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3315000 | PA      | $3540634.81   | 0.18%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA SCH FIN AUTH                                                   | CALIFORNIA SCH FIN 5% 07/01/32 | CUSIP: 13059TED7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $804682.96    | 0.04%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN CORP                                        | NEW HOPE CULTURAL  5% 01/01/31 | CUSIP: 64542UDS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1415000 | PA      | $1415435.54   | 0.07%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH                                              | NEW JERSEY ST ECON 5% 06/15/44 | CUSIP: 64577B7R9<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   2930000 | PA      | $3077351.46   | 0.16%             | 2044-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAMPSHIRE ILL SPL SVC AREA NO 14                                          | HAMPSHIRE IL SPL S 4% 03/01/25 | CUSIP: 40886GAK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    505000 | PA      | $520636.47    | 0.03%             | 2025-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOUISVILLE & JEFFERSON CNTY KY MET SWR DIST                               | LOUISVILLE & JEFFE 5% 05/15/29 | CUSIP: 546589T85<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $337874.56    | 0.02%             | 2029-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STATEWIDE CMNTYS DEV AUTH                                      | CALIFORNIA STWD CM 5% 04/01/31 | CUSIP: 13080SRV8<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    195000 | PA      | $210886.12    | 0.01%             | 2031-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STATEWIDE CMNTYS DEV AUTH                                      | CALIFORNIA STWD CM 5% 11/01/32 | CUSIP: 13080SSH8<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    500000 | PA      | $515935.70    | 0.03%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FOLSOM RANCH FING AUTH CALIF                                              | FOLSOM RANCH CA FI 4% 09/01/25 | CUSIP: 344414BV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $157645.15    | 0.01%             | 2025-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FOLSOM RANCH FING AUTH CALIF                                              | FOLSOM RANCH CA FI 4% 09/01/39 | CUSIP: 344414EC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    165000 | PA      | $159394.47    | 0.01%             | 2039-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOUISVILLE & JEFFERSON CNTY KY METRO GOVT                                 | LOUISVILLE & JEFFE 5% 10/01/31 | CUSIP: 54659LBP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1120000 | PA      | $1194787.44   | 0.06%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISVILLE & JEFFERSON CNTY KY METRO GOVT                                 | LOUISVILLE & JEFFE 4% 10/01/40 | CUSIP: 54659LCA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $486569.65    | 0.03%             | 2040-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH                                              | NEW JERSEY ST ECON 4% 06/15/35 | CUSIP: 64577XCL8<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    350000 | PA      | $361567.78    | 0.02%             | 2035-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STATEWIDE CMNTYS DEV AUTH                                      | CALIFORNIA STWD CM 5% 12/01/33 | CUSIP: 13080SVJ0<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    450000 | PA      | $467560.22    | 0.02%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CARMEL IND                                                                | CARMEL IN LOCAL PU 5% 07/15/34 | CUSIP: 143287BD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1920000 | PA      | $2073576.19   | 0.11%             | 2034-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FOLSOM RANCH FING AUTH CALIF                                              | FOLSOM RANCH CA FI 4% 09/01/41 | CUSIP: 344414EE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $165162.74    | 0.01%             | 2041-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FOND DU LAC WIS SCH DIST                                                  | FOND DU LAC WI SCH 4% 04/01/35 | CUSIP: 344496KS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $869883.38    | 0.04%             | 2035-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOWER COLO RIV AUTH TEX                                                   | LOWER COLORADO RIV 5% 05/15/38 | CUSIP: 54811BSX0<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |    610000 | PA      | $648682.60    | 0.03%             | 2038-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER COLO RIV AUTH TEX                                                   | LOWER COLORADO RIV 5% 05/15/40 | CUSIP: 54811BSZ5<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1056851.10   | 0.05%             | 2040-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JOHNSON & MIAMI CNTYS KANS UNI SCH DIST NO 230                            | JOHNSON & MIAMI CN 5% 09/01/35 | CUSIP: 478164JW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4210000 | PA      | $4694160.10   | 0.24%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JOPLIN MO INDL DEV AUTH HEALTH FACS                                       | JOPLIN MO INDL DEV 5% 02/15/26 | CUSIP: 480639BM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1670000 | PA      | $1708771.05   | 0.09%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER ALA GAS DIST ALA                                                    | LOWER AL GAS DIST  5% 09/01/31 | CUSIP: 547804AD6<br>LEI: 549300YTI1NTDG2OVU42 | Long             | DBT              | MUN               | US        |   1445000 | PA      | $1565784.08   | 0.08%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER ALA GAS DIST ALA                                                    | LOWER AL GAS DIST V/R 12/01/50 | CUSIP: 547804AM6<br>LEI: 549300YTI1NTDG2OVU42 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4019172.40   | 0.21%             | 2050-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HEALTH & EDL FACS AUTH                                     | CONNECTICUT ST HLT 4% 07/01/33 | CUSIP: 20774YXL6<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    200000 | PA      | $203496.20    | 0.01%             | 2033-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HEALTH & EDL FACS AUTH                                     | CONNECTICUT ST HLT 5% 07/01/46 | CUSIP: 20774YYR2<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1285924.38   | 0.07%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL TEX REGL MOBILITY AUTH                                            | CENTRL TX REGL MOB 5% 01/01/35 | CUSIP: 155498LP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $147422.64    | 0.01%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL TEX REGL MOBILITY AUTH                                            | CENTRL TX REGL MOB 5% 01/01/38 | CUSIP: 155498LS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $775259.10    | 0.04%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER COLO RIV AUTH TEX                                                   | LOWER COLORADO RIV 5% 05/15/33 | CUSIP: 54811BQS3<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |    700000 | PA      | $752035.83    | 0.04%             | 2033-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER COLO RIV AUTH TEX                                                   | LOWER COLORADO RIV 5% 05/15/37 | CUSIP: 54811BSW2<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |    400000 | PA      | $428083.12    | 0.02%             | 2037-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER PETROGLYPHS PUB IMPT DIST N MEX                                     | LOWER PETROGLYPHS  4% 10/01/23 | CUSIP: 54844CAE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $149313.81    | 0.01%             | 2023-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOWER PETROGLYPHS PUB IMPT DIST N MEX                                     | LOWER PETROGLYPH 4.2% 10/01/24 | CUSIP: 54844CAF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $227552.59    | 0.01%             | 2024-10-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| FOND DU LAC WIS SCH DIST                                                  | FOND DU LAC WI SCH 4% 04/01/36 | CUSIP: 344496KT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1255000 | PA      | $1312938.33   | 0.07%             | 2036-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FONTANA CALIF                                                             | FONTANA CA SPL TAX 4% 09/01/27 | CUSIP: 344630WR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $257619.85    | 0.01%             | 2027-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST MUN ELEC ENERGY COOP                                       | CONNECTICUT ST MUN 5% 01/01/38 | CUSIP: 207752GE0<br>LEI: 549300FL0Q3X9HUSF682 | Long             | DBT              | MUN               | US        |   1765000 | PA      | $1974695.41   | 0.10%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST                                                            | CONNECTICUT ST SPL 5% 05/01/41 | CUSIP: 207758D59<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |   5490000 | PA      | $6206396.69   | 0.32%             | 2041-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL TEX REGL MOBILITY AUTH                                            | CENTRL TX REGL MOB 5% 01/01/39 | CUSIP: 155498LT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $491163.37    | 0.03%             | 2039-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL TEX REGL MOBILITY AUTH                                            | CENTRL TX REGL MOB 4% 01/01/40 | CUSIP: 155498LU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $607840.02    | 0.03%             | 2040-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JUSTIN TEX                                                                | JUSTIN TX SPL  3.375% 09/01/41 | CUSIP: 482184AL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $554913.94    | 0.03%             | 2041-09-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| KALISPEL TRIBE INDIANS PRIORITY DISTR WASH                                | KALISPEL TRIBE OF  5% 01/01/32 | CUSIP: 48340PAR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $553970.47    | 0.03%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HEALTH & EDL FACS AUTH                                     | CONNECTICUT ST HLT 5% 07/01/35 | CUSIP: 20775DEY4<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1095729.00   | 0.06%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HEALTH & EDL FACS AUTH                                     | CONNECTICUT ST HLT 4% 07/01/36 | CUSIP: 20775DEZ1<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1014413.50   | 0.05%             | 2036-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MADISON BOND ETC CNTYS ILL CMNTY UNIT SCH DIST NO 5 HIGHL                 | MADISON BOND ETC 5.5% 02/01/39 | CUSIP: 556627KY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1329996.37   | 0.07%             | 2039-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LOWER PETROGLYPHS PUB IMPT DIST N MEX                                     | LOWER PETROGLYPH 4.3% 10/01/25 | CUSIP: 54844CAG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $236137.13    | 0.01%             | 2025-10-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| LOWER PETROGLYPHS PUB IMPT DIST N MEX                                     | LOWER PETROGLYP 4.45% 10/01/26 | CUSIP: 54844CAH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $244615.90    | 0.01%             | 2026-10-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| CENTRAL TEX REGL MOBILITY AUTH                                            | CENTRL TX REGL MOB 4% 01/01/41 | CUSIP: 155498LV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    640000 | PA      | $645281.86    | 0.03%             | 2041-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHANDLER ARIZ INDL DEV AUTH                                               | CHANDLER AZ INDL  V/R 09/01/52 | CUSIP: 158862CB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2119382.60   | 0.11%             | 2052-09-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| ETOWAH WTR & SWR AUTH GA                                                  | ETOWAH GA WTR & SW 4% 03/01/36 | CUSIP: 297860DA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $411943.36    | 0.02%             | 2036-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EUTAW ALA INDL DEV BRD                                                    | EUTAW AL INDL DEV V/R 06/01/28 | CUSIP: 298880AE5<br>LEI: 549300SEHVC4E4YS3921 | Long             | DBT              | MUN               | US        |   6500000 | PA      | $6500000.00   | 0.34%             | 2028-06-01      | Variable      | 1.35%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HEALTH & EDL FACS AUTH                                     | CONNECTICUT ST HLT 4% 07/01/37 | CUSIP: 20775DFA5<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   4700000 | PA      | $4745293.90   | 0.24%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONSOLIDATED WYO MUNICIPALTIES ELEC PWR SYS JT PWRS BRD                   | CONSOL MUNI ELE 5.25% 06/01/38 | CUSIP: 210295EV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $2007460.53   | 0.10%             | 2038-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LOWER PETROGLYPHS PUB IMPT DIST N MEX                                     | LOWER PETROGLYP 4.55% 10/01/27 | CUSIP: 54844CAJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $253168.24    | 0.01%             | 2027-10-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| LOWER PETROGLYPHS PUB IMPT DIST N MEX                                     | LOWER PETROGLYPHS  5% 10/01/33 | CUSIP: 54844CAL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $359642.60    | 0.02%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FYI PPTYS WASH                                                            | FYI PROPERTIES WA  5% 06/01/38 | CUSIP: 302716BS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1632336.75   | 0.08%             | 2038-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FAIRFAX CNTY VA ECONOMIC DEV AUTH                                         | FAIRFAX CNTY VA EC 5% 10/01/39 | CUSIP: 30382LGP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1365000 | PA      | $1559767.07   | 0.08%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FONTANA CALIF                                                             | FONTANA CA SPL TAX 4% 09/01/28 | CUSIP: 344630WS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    265000 | PA      | $274561.86    | 0.01%             | 2028-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FONTANA CALIF                                                             | FONTANA CA SPL TAX 4% 09/01/29 | CUSIP: 344630WT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $291314.18    | 0.02%             | 2029-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND CNTY PA MUN AUTH                                               | CUMBERLAND CNTY PA 5% 01/01/30 | CUSIP: 230614QQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $52442.13     | 0.00%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND CNTY PA MUN AUTH                                               | CUMBERLAND CNTY PA 5% 01/01/38 | CUSIP: 230614QR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     65000 | PA      | $68174.76     | 0.00%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MACON CNTY ILL SCH DIST NO 61 DECATUR                                     | MACON CNTY IL SCH  4% 01/01/28 | CUSIP: 555597HH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $528968.55    | 0.03%             | 2028-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MADISON BOND ETC CNTYS ILL CMNTY UNIT SCH DIST NO 5 HIGHL                 | MADISON BOND ETC 5.5% 02/01/40 | CUSIP: 556627KZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $789146.33    | 0.04%             | 2040-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| KANAWHA CNTY W VA CNTY COMMN                                              | KANAWHA CNTY WV 6.75% 07/01/45 | CUSIP: 48366VAC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5085142.00   | 0.26%             | 2045-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| KANSAS MUN ENERGY AGY                                                     | KANSAS MUNI ENERGY 5% 04/01/30 | CUSIP: 48526CBG1<br>LEI: 549300G77TEGJUQPZW28 | Long             | DBT              | MUN               | US        |   1470000 | PA      | $1587165.91   | 0.08%             | 2030-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND CNTY PA MUN AUTH                                               | CUMBERLAND CNTY PA 5% 01/01/30 | CUSIP: 230614RY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $110128.46    | 0.01%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DALLAS-FORT WORTH TEX INTL ARPT                                           | DALLAS-FORT WORTH  4% 11/01/36 | CUSIP: 2350367P9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4350000 | PA      | $4481160.77   | 0.23%             | 2036-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FALLSCHASE CMNTY DEV DIST FLA                                             | FALLSCHASE CMN 3.375% 05/01/41 | CUSIP: 306748AC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $981907.25    | 0.05%             | 2041-05-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| FARMINGTON N MEX                                                          | FARMINGTON NM POL V/R 06/01/40 | CUSIP: 311450FS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $991202.00    | 0.05%             | 2040-06-01      | Variable      | 1.10%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA                                                   | MAIN STREET NATURA 5% 05/15/27 | CUSIP: 56035DBG6<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1052210.50   | 0.05%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA                                                   | MAIN STREET NATURA 5% 05/15/30 | CUSIP: 56035DBK7<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   2630000 | PA      | $2801720.85   | 0.14%             | 2030-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DALLAS TEX AREA RAPID TRAN                                                | DALLAS TX AREA RAP 4% 12/01/34 | CUSIP: 235241UQ7<br>LEI: 75YWM81F2R6UQGJIEW47 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1390477.79   | 0.07%             | 2034-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DALLAS TEX                                                                | DALLAS TX HOTEL OC 4% 08/15/37 | CUSIP: 235286AR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    490000 | PA      | $490205.90    | 0.03%             | 2037-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FONTANA CALIF                                                             | FONTANA CA SPL TAX 4% 09/01/36 | CUSIP: 344630WW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    535000 | PA      | $534106.98    | 0.03%             | 2036-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FOOTHILL-DE ANZA CALIF CMNTY COLLEGE DIST                                 | FOOTHILL-DE ANZA C 5% 04/01/32 | CUSIP: 345104FS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $522533.85    | 0.03%             | 2032-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FIRESTONE COLO                                                            | FIRESTONE CO WTR E 4% 12/01/37 | CUSIP: 318283AQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $548969.87    | 0.03%             | 2037-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FIRESTONE COLO                                                            | FIRESTONE CO WTR E 4% 12/01/39 | CUSIP: 318283AS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $615970.68    | 0.03%             | 2039-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT COLUMBIA WTR & SWR AUTH                                          | DIST OF COLUMBIA W 5% 10/01/39 | CUSIP: 254845PB0<br>LEI: 549300OT2FIJQJ5PSH71 | Long             | DBT              | MUN               | US        |   1745000 | PA      | $1909149.01   | 0.10%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DU PAGE & COOK CNTYS ILL TWP HIGH SCH DIST NO 86 HINSDALE                 | DU PAGE & COOK CNT 4% 01/15/36 | CUSIP: 262548FM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2425000 | PA      | $2523763.46   | 0.13%             | 2036-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL                                                               | CHICAGO IL 5.5% 01/01/41       | CUSIP: 167486P78<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2132747.60   | 0.11%             | 2041-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL                                                               | CHICAGO IL 5% 01/01/38         | CUSIP: 167486XF1<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    270000 | PA      | $274226.58    | 0.01%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA                                                   | MAIN STREET NATUR V/R 07/01/52 | CUSIP: 56035DDH2<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1625000 | PA      | $1656922.48   | 0.09%             | 2052-07-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA                                                   | MAIN STREET NATUR V/R 09/01/52 | CUSIP: 56035DDX7<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |  14500000 | PA      | $14532762.75  | 0.75%             | 2052-09-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FLA                                                       | MIAMI-DADE CNTY FL 4% 10/01/40 | CUSIP: 59334DJP0<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   2130000 | PA      | $2153424.46   | 0.11%             | 2040-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FLA                                                       | MIAMI-DADE CNTY FL 5% 10/01/41 | CUSIP: 59335KEY9<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2152664.80   | 0.11%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL                                                               | CHICAGO IL 5.625% 01/01/29     | CUSIP: 167486ZT9<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    500000 | PA      | $529938.60    | 0.03%             | 2029-01-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL BRD ED                                                        | CHICAGO IL BRD OF  5% 12/01/30 | CUSIP: 167505SL1<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    500000 | PA      | $521515.10    | 0.03%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP                                                      | FLORIDA ST DEV FIN 4% 07/01/26 | CUSIP: 34061UGK8<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    200000 | PA      | $202063.70    | 0.01%             | 2026-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FLYING HORSE MET DIST NO 2 COLO                                           | FLYING HORSE CO ME 4% 12/01/38 | CUSIP: 34407NAW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $230574.80    | 0.01%             | 2038-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA                                                   | MAIN STREET NATUR V/R 06/01/53 | CUSIP: 56035DEN8<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2654996.00   | 0.14%             | 2053-06-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA GAS PROJ                                          | MAIN STREET NATU 5.5% 09/15/23 | CUSIP: 56036YDE2<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    175000 | PA      | $177149.25    | 0.01%             | 2023-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DUBOIS PA HOSP AUTH                                                       | DUBOIS PA HOSP AUT 5% 07/15/32 | CUSIP: 263804BY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $108397.57    | 0.01%             | 2032-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DUBOIS PA HOSP AUTH                                                       | DUBOIS PA HOSP AUT 5% 07/15/33 | CUSIP: 263804BZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $124367.43    | 0.01%             | 2033-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL O HARE INTL ARPT                                              | CHICAGO IL O'HARE  5% 01/01/34 | CUSIP: 1675932A9<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    325000 | PA      | $369520.78    | 0.02%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL O HARE INTL ARPT                                              | CHICAGO IL O'HARE  5% 01/01/36 | CUSIP: 167593K84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3070000 | PA      | $3303916.19   | 0.17%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORT PIERCE FLA UTILS AUTH                                                | FORT PIERCE FL UTI 5% 10/01/35 | CUSIP: 348430PL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1164312.10   | 0.06%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORT WAYNE IND                                                            | FORT WAYNE IN MF 5.3% 01/01/32 | CUSIP: 34926RAD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $225376.75    | 0.01%             | 2032-01-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| FLYING HORSE MET DIST NO 2 COLO                                           | FLYING HORSE CO ME 4% 12/01/39 | CUSIP: 34407NAX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $204227.02    | 0.01%             | 2039-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FOLSOM RANCH FING AUTH CALIF                                              | FOLSOM RANCH CA FI 4% 09/01/24 | CUSIP: 344414BU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $131185.50    | 0.01%             | 2024-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HOSP FIN AUTH                                                 | MICHIGAN ST HOSP F 5% 11/15/47 | CUSIP: 59465HVU7<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1045493.30   | 0.05%             | 2047-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIDCITY IMPT DIST ALA                                                     | MIDCITY IMPT DIS 4.5% 11/01/42 | CUSIP: 59564KAC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $816696.90    | 0.04%             | 2042-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL O HARE INTL ARPT                                              | CHICAGO IL O'HARE  5% 01/01/37 | CUSIP: 167593K92<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $642530.34    | 0.03%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL O HARE INTL ARPT                                              | CHICAGO IL O'HARE  5% 01/01/33 | CUSIP: 167593QP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1550756.40   | 0.08%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DUBOIS PA HOSP AUTH                                                       | DUBOIS PA HOSP AUT 5% 07/15/34 | CUSIP: 263804CA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    245000 | PA      | $263770.36    | 0.01%             | 2034-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DUBOIS PA HOSP AUTH                                                       | DUBOIS PA HOSP AUT 5% 07/15/35 | CUSIP: 263804CB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $309943.01    | 0.02%             | 2035-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAINE FIN AUTH                                                            | MAINE ST FIN AUTH 8% 12/01/51  | CUSIP: 56042BBU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $702030.20    | 0.04%             | 2051-12-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY ARIZ INDL DEV AUTH                                          | MARICOPA CNTY AZ I 5% 07/01/35 | CUSIP: 56681NAN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $498230.95    | 0.03%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL O HARE INTL ARPT                                              | CHICAGO IL O'HARE  5% 01/01/34 | CUSIP: 167593SB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    610000 | PA      | $629985.86    | 0.03%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL O HARE INTL ARPT                                              | CHICAGO IL O'HARE  5% 01/01/30 | CUSIP: 167593TL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    305000 | PA      | $321037.97    | 0.02%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FULTON CNTY GA RESIDNTIAL CARE FACS ELDERLY AUTH                          | FULTON CNTY GA RSD 5% 07/01/31 | CUSIP: 360059AL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2775000 | PA      | $2792168.93   | 0.14%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GODDARD KANS                                                              | GODDARD KS SALES 3.6% 06/01/30 | CUSIP: 380278AC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $834146.78    | 0.04%             | 2030-06-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| NEW HAVEN CONN                                                            | NEW HAVEN CT 5% 02/01/23       | CUSIP: 6450207W2<br>LEI: 549300U4OHEAZ124LQ06 | Long             | DBT              | MUN               | US        |    580000 | PA      | $580000.00    | 0.03%             | 2023-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH                                              | NEW JERSEY ST E 5.25% 11/01/40 | CUSIP: 64577XEA0<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2203966.60   | 0.11%             | 2040-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DULUTH MINN INDPT SCH DIST NO 709                                         | DULUTH MN INDEP SC 5% 02/01/27 | CUSIP: 264474HL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    370000 | PA      | $403734.49    | 0.02%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EDGEWATER EAST CMNTY DEV DIST FLA                                         | EDGEWATER EAST CDD 4% 05/01/52 | CUSIP: 280286AH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $792559.80    | 0.04%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY ARIZ INDL DEV AUTH                                          | MARICOPA CNTY AZ I 5% 07/01/25 | CUSIP: 56681NCC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $208745.90    | 0.01%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY ARIZ INDL DEV AUTH                                          | MARICOPA CNTY AZ I 4% 07/01/34 | CUSIP: 56681NEG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $511323.80    | 0.03%             | 2034-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL                                                               | CHICAGO IL WTRWKS  5% 11/01/30 | CUSIP: 167736T23<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3775494.10   | 0.19%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHINO CALIF CMNTY FACS DIST                                               | CHINO CA CMNTY FAC 5% 09/01/30 | CUSIP: 169511TD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    370000 | PA      | $402361.50    | 0.02%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GRAND CNTY UTAH SCH DIST LOC BLDG AUTH                                    | GRAND CNTY SCH DIS 5% 12/15/30 | CUSIP: 385375AK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1370000 | PA      | $1456100.80   | 0.08%             | 2030-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GRAND CNTY UTAH SCH DIST LOC BLDG AUTH                                    | GRAND CNTY SCH DIS 5% 12/15/31 | CUSIP: 385375AL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1484801.08   | 0.08%             | 2031-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY ARIZ INDL DEV AUTH                                          | MARICOPA CNTY AZ I 4% 07/01/33 | CUSIP: 56681NFK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $717898.44    | 0.04%             | 2033-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHINO VY UNI SCH DIST CALIF                                               | CHINO VLY CA UNIF  5% 08/01/38 | CUSIP: 169583GW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $342256.02    | 0.02%             | 2038-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHINO VY UNI SCH DIST CALIF                                               | CHINO VLY CA UNIF  5% 08/01/39 | CUSIP: 169583GX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $284098.80    | 0.01%             | 2039-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH                                              | NEW JERSEY ST ECON 5% 10/01/25 | CUSIP: 64578CCB5<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    490000 | PA      | $503862.05    | 0.03%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH                                              | NEW JERSEY ST ECON 5% 06/15/23 | CUSIP: 64578EHZ3<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    500000 | PA      | $504309.25    | 0.03%             | 2023-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLACKAMAS CNTY ORE HOSP FAC AUTH                                          | CLACKAMAS CNTY OR  5% 11/15/32 | CUSIP: 179027WN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $251354.33    | 0.01%             | 2032-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLACKAMAS CNTY ORE HOSP FAC AUTH                                          | CLACKAMAS CNTY OR  4% 05/15/26 | CUSIP: 179027XK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    170000 | PA      | $168341.09    | 0.01%             | 2026-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GREENVILLE HOSP SYS S C                                                   | GREENVILLE SC HOSP 5% 05/01/30 | CUSIP: 396080KB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1022151.10   | 0.05%             | 2030-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH                                              | NEW JERSEY ST ECON 5% 07/01/23 | CUSIP: 64578JAY2<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009130.70   | 0.05%             | 2023-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH                                              | NEW JERSEY ST ECON 5% 07/01/28 | CUSIP: 64578JBE5<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    450000 | PA      | $490915.58    | 0.03%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLACKAMAS CNTY ORE HOSP FAC AUTH                                          | CLACKAMAS CNTY  5.25% 11/15/50 | CUSIP: 179027YM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $464169.80    | 0.02%             | 2050-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NEV                                                            | CLARK CNTY NV IM 4.5% 08/01/23 | CUSIP: 181003MB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    805000 | PA      | $807472.16    | 0.04%             | 2023-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH                                              | NEW JERSEY ST EC 5.5% 09/01/23 | CUSIP: 6459165D5<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2031739.00   | 0.10%             | 2023-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH                                              | NEW JERSEY ST E 5.25% 07/01/24 | CUSIP: 645916G84<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    150000 | PA      | $154098.50    | 0.01%             | 2024-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NEV SCH DIST                                                   | CLARK CNTY NV SCH  5% 06/15/37 | CUSIP: 1810592N5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4562448.40   | 0.24%             | 2037-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLEVELAND OHIO                                                            | CLEVELAND OH PUBLI 4% 11/15/35 | CUSIP: 186398MA8<br>LEI: 549300IQSLQPCVVMKJ96 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1035516.10   | 0.05%             | 2035-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                           | NEW JERSEY ST TRAN 5% 06/15/28 | CUSIP: 6461362C4<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    165000 | PA      | $177828.98    | 0.01%             | 2028-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                           | NEW JERSEY ST TRAN 5% 12/15/26 | CUSIP: 6461363X7<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   3040000 | PA      | $3306052.29   | 0.17%             | 2026-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLEVELAND OHIO                                                            | CLEVELAND OH PUBLI 5% 11/15/24 | CUSIP: 186398NA7<br>LEI: 549300IQSLQPCVVMKJ96 | Long             | DBT              | MUN               | US        |     80000 | PA      | $83702.54     | 0.00%             | 2024-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLEVELAND OHIO                                                            | CLEVELAND OH PUBLI 5% 11/15/24 | CUSIP: 186398NF6<br>LEI: 549300IQSLQPCVVMKJ96 | Long             | DBT              | MUN               | US        |    420000 | PA      | $438787.23    | 0.02%             | 2024-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TWY AUTH                                                      | NEW YORK ST THRUWA 5% 03/15/41 | CUSIP: 650028YT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4185000 | PA      | $4709289.69   | 0.24%             | 2041-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BALTIMORE CNTY MD                                                         | BALTIMORE CNTY MD  4% 01/01/34 | CUSIP: 059151DB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    685000 | PA      | $700797.68    | 0.04%             | 2034-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BALTIMORE MD                                                              | BALTIMORE MD SP 2.75% 06/01/24 | CUSIP: 05923TCE7<br>LEI: 5493006QYFB72E0IOO54 | Long             | DBT              | MUN               | US        |    100000 | PA      | $97766.90     | 0.01%             | 2024-06-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| DE KALB PRIVATE HOSP AUTH GA                                              | DE KALB GA PRIV HO 4% 07/01/37 | CUSIP: 241064EV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $647544.75    | 0.03%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DEER CREEK DRAIN BASIN AUTH PA                                            | DEER CREEK PA DRAI 4% 12/01/34 | CUSIP: 24379RCU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $299128.76    | 0.02%             | 2034-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BALTIMORE MD                                                              | BALTIMORE MD SPL 2.8% 06/01/25 | CUSIP: 05923TCF4<br>LEI: 5493006QYFB72E0IOO54 | Long             | DBT              | MUN               | US        |    125000 | PA      | $120339.88    | 0.01%             | 2025-06-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| BOLINGBROOK ILL                                                           | BOLINGBROOK IL 5% 01/01/31     | CUSIP: 097552TK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1114737.70   | 0.06%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DEER CREEK DRAIN BASIN AUTH PA                                            | DEER CREEK PA DRAI 4% 12/01/35 | CUSIP: 24379RCV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    390000 | PA      | $412460.41    | 0.02%             | 2035-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE ST HEALTH FACS AUTH                                              | DELAWARE ST HLTH F 5% 06/01/26 | CUSIP: 246388SX1<br>LEI: 549300RXU7M05ZYSJG42 | Long             | DBT              | MUN               | US        |    325000 | PA      | $346226.53    | 0.02%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BORDEN-HENRYVILLE MULTI-SCH BLDG CORP IND                                 | BORDEN-HENRYVILLE  5% 07/15/39 | CUSIP: 099590BA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3080000 | PA      | $3454221.85   | 0.18%             | 2039-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BROOKHAVEN GA DEV AUTH                                                    | BROOKHAVEN DEV AUT 5% 07/01/35 | CUSIP: 113073AR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1469065.78   | 0.08%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUFFALO N Y MUN WTR FIN AUTH                                              | BUFFALO NY MUNI WT 4% 07/01/49 | CUSIP: 119699MA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    460000 | PA      | $477727.02    | 0.02%             | 2049-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BUFFALO RIDGE MET DIST COLO                                               | BUFFALO RIDGE CO M 5% 12/01/25 | CUSIP: 119802AL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $486235.20    | 0.03%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BURKE CNTY GA DEV AUTH                                                    | BURKE CNTY GA DEV V/R 07/01/49 | CUSIP: 121342MW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6000000.00   | 0.31%             | 2049-07-01      | Variable      | 1.45%                 | No            |                  2 | On Loan: No      |
| BURKE CNTY GA DEV AUTH                                                    | BURKE CNTY GA DEV V/R 11/01/52 | CUSIP: 121342PQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6700000 | PA      | $6700000.00   | 0.35%             | 2052-11-01      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| CARSON CITY NEV                                                           | CARSON CITY NV HOS 5% 09/01/30 | CUSIP: 145810DN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $806017.58    | 0.04%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CASCADE RIDGE MET DIST COLO                                               | CASCADE RIDGE MET  5% 12/01/51 | CUSIP: 147351AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $639311.25    | 0.03%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE ST HEALTH FACS AUTH                                              | DELAWARE ST HLTH F 5% 10/01/35 | CUSIP: 246388UC4<br>LEI: 549300RXU7M05ZYSJG42 | Long             | DBT              | MUN               | US        |   4335000 | PA      | $4811899.42   | 0.25%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE ST HEALTH FACS AUTH                                              | DELAWARE ST HLTH F 5% 10/01/38 | CUSIP: 246388UF7<br>LEI: 549300RXU7M05ZYSJG42 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3260372.10   | 0.17%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CATOOSA OKLA INDL AUTH                                                    | CATOOSA OK INDL  4.5% 10/01/32 | CUSIP: 149308AB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $855646.38    | 0.04%             | 2032-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CELINA TEX                                                                | CELINA TX SPL ASSE 4% 09/01/29 | CUSIP: 15114CCX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    305000 | PA      | $321200.59    | 0.02%             | 2029-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA HOSP DEV AUTH                                           | ALLEGHENY CNTY PA  5% 04/01/32 | CUSIP: 01728A3S3<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1645295.85   | 0.08%             | 2032-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JACKSONVILLE FLA                                                          | JACKSONVILLE FL SP 5% 10/01/28 | CUSIP: 469487LF7<br>LEI: 549300XQE0JVN9WV0J40 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1092464.80   | 0.06%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BURLINGTON VT                                                             | BURLINGTON VT COPS 5% 12/01/24 | CUSIP: 122066EY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $574532.64    | 0.03%             | 2024-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUTLER CNTY OHIO                                                          | BUTLER CNTY OH HOS 5% 11/15/30 | CUSIP: 123550HP3<br>LEI: 54930064OLVQO8IVR655 | Long             | DBT              | MUN               | US        |    135000 | PA      | $146616.45    | 0.01%             | 2030-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ECONOMIC DEV FIN AUTH                                            | KENTUCKY ST ECON D 5% 08/15/41 | CUSIP: 49126KLC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3128654.70   | 0.16%             | 2041-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ECONOMIC DEV FIN AUTH                                            | KENTUCKY ST ECON D 4% 08/01/38 | CUSIP: 49126PGC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $622399.56    | 0.03%             | 2038-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL BRD ED                                                        | CHICAGO IL BRD OF  5% 12/01/30 | CUSIP: 167505XV3<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3206061.90   | 0.17%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CROSS CREEK NORTH CMNTY DEV DIST FLA                                      | CROSS CREEK N CD 4.5% 05/01/52 | CUSIP: 227521AH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $874966.30    | 0.05%             | 2052-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MIAMI FLA                                                                 | MIAMI FL SPL OBLG 5% 03/01/30  | CUSIP: 593490MK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $400798.52    | 0.02%             | 2030-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI FLA                                                                 | MIAMI FL SPL OBLG 5% 03/01/30  | CUSIP: 593490ML6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100199.63    | 0.01%             | 2030-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ECONOMIC DEV FIN AUTH                                            | KENTUCKY ST ECON D 5% 08/01/44 | CUSIP: 49126PGE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3795000 | PA      | $3952873.90   | 0.20%             | 2044-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ECONOMIC DEV FIN AUTH                                            | KENTUCKY ST ECON D 5% 08/01/35 | CUSIP: 49126PGR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    730000 | PA      | $788438.98    | 0.04%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y                                                              | NEW YORK NY 5% 03/01/43        | CUSIP: 64966QVT4<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6631424.40   | 0.34%             | 2043-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY TRANSITIONAL FIN AUTH                                   | NEW YORK CITY NY T 5% 02/01/36 | CUSIP: 64971W4U1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1457145.59   | 0.08%             | 2036-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LIVE OAK CALIF SCH DIST                                                   | LIVE OAK CA SCH DI 5% 08/01/30 | CUSIP: 53803LFU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    835000 | PA      | $914366.50    | 0.05%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HEALTH & EDL FACS AUTH                                        | MISSOURI ST HLTH & 5% 02/01/25 | CUSIP: 60635HR68<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |    245000 | PA      | $246608.79    | 0.01%             | 2025-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CRYSTAL VY COLO MET DIST NO 2                                             | CRYSTAL VLY CO MET 4% 12/01/32 | CUSIP: 22941LAM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $198307.60    | 0.01%             | 2032-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CRYSTAL VY COLO MET DIST NO 2                                             | CRYSTAL VLY CO MET 4% 12/01/33 | CUSIP: 22941LAN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $357222.19    | 0.02%             | 2033-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY TRANSITIONAL FIN AUTH                                   | NEW YORK CITY NY T 5% 02/01/37 | CUSIP: 64971WD31<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1596365.55   | 0.08%             | 2037-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH                                                     | NEW YORK ST DORM A 5% 05/01/38 | CUSIP: 65000BNB0<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    500000 | PA      | $548579.70    | 0.03%             | 2038-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HEALTH & EDL FACS AUTH                                        | MISSOURI ST HLTH & 5% 02/15/32 | CUSIP: 60637APM8<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |    750000 | PA      | $829740.68    | 0.04%             | 2032-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HEALTH & EDL FACS AUTH                                        | MISSOURI ST HLTH & 4% 02/15/39 | CUSIP: 60637APU0<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |    710000 | PA      | $716893.04    | 0.04%             | 2039-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CRYSTAL VY COLO MET DIST NO 2                                             | CRYSTAL VLY CO MET 4% 12/01/34 | CUSIP: 22941LAP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $543211.55    | 0.03%             | 2034-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND CNTY PA MUN AUTH                                               | CUMBERLAND CNTY PA 5% 01/01/33 | CUSIP: 230614LE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1018393.90   | 0.05%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KALAMAZOO MICH ECONOMIC DEV CORP                                          | KALAMAZOO MI E 2.625% 05/15/25 | CUSIP: 483228EA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $57473.13     | 0.00%             | 2025-05-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HEALTH & EDL FACS AUTH                                        | MISSOURI ST HLTH & 4% 02/01/27 | CUSIP: 60635H3H0<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $979388.30    | 0.05%             | 2027-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TWY AUTH                                                      | NEW YORK ST THRUWA 4% 01/01/45 | CUSIP: 650010CJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    195000 | PA      | $190928.50    | 0.01%             | 2045-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTHERN TOB SECURITIZATION CORP ALASKA                                   | NTHRN AK TOBACCO S 4% 06/01/39 | CUSIP: 66585VBV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $440480.66    | 0.02%             | 2039-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTHERN TOB SECURITIZATION CORP ALASKA                                   | NTHRN AK TOBACCO S 4% 06/01/40 | CUSIP: 66585VBW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1454820.75   | 0.08%             | 2040-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTHWEST OHIO LOC SCH DIST HAMILTON & BUTLER CNTYS                       | N W OH LOCAL SCH D 5% 12/01/45 | CUSIP: 667712BU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1760000 | PA      | $1797413.55   | 0.09%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HEALTH & EDL FACS AUTH                                        | MISSOURI ST HLTH & 4% 02/01/28 | CUSIP: 60635H3J6<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |    650000 | PA      | $632198.19    | 0.03%             | 2028-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HEALTH & EDL FACS AUTH                                        | MISSOURI ST HLTH & 4% 02/01/31 | CUSIP: 60635H3M9<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   2120000 | PA      | $2005756.80   | 0.10%             | 2031-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CITY & CNTY                                                   | DENVER CO CITY & C 5% 08/01/41 | CUSIP: 24917DBJ1<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1055942.30   | 0.05%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CITY & CNTY                                                   | DENVER CITY & CNTY 5% 12/01/32 | CUSIP: 249182LF1<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5489213.50   | 0.28%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EL PASO TEX                                                               | EL PASO TX 4% 08/15/36         | CUSIP: 283734S69<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $518067.30    | 0.03%             | 2036-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ELBERT & HWY 86 COML MET DIST COLO                                        | ELBERT & HIGHWAY 8 5% 12/01/51 | CUSIP: 28421SAC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1710279.00   | 0.09%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OAK VALLEY CALIF HOSP DIST HEALTH FAC                                     | OAK VLY CA HOSP DI 4% 11/01/36 | CUSIP: 671810BP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $881099.10    | 0.05%             | 2036-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST                                                                   | OHIO ST 5% 05/01/32            | CUSIP: 677522RF3<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2773538.50   | 0.14%             | 2032-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HEALTH & EDL FACS AUTH                                        | MISSOURI ST HLTH & 5% 02/01/28 | CUSIP: 60635HU80<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |    160000 | PA      | $162578.27    | 0.01%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                           | NEW JERSEY ST TRAN 5% 06/15/31 | CUSIP: 6461364N8<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2515873.05   | 0.13%             | 2031-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PARK CREEK MET DIST COLO                                                  | PARK CREEK CO MET  5% 12/01/30 | CUSIP: 700387FM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    420000 | PA      | $470498.87    | 0.02%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PARK CREEK MET DIST COLO                                                  | PARK CREEK CO MET  4% 12/01/36 | CUSIP: 700387GY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1040000 | PA      | $1077073.82   | 0.06%             | 2036-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GEISINGER AUTH PA                                                         | GEISINGER PA AUTH  5% 02/15/45 | CUSIP: 368497HP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2568944.75   | 0.13%             | 2045-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GENESEE CNTY MICH                                                         | GENESEE CNTY MI SW 4% 06/01/30 | CUSIP: 371643CE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $272727.63    | 0.01%             | 2030-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CITY & CNTY                                                   | DENVER CITY & CNTY 5% 12/01/34 | CUSIP: 249182LR5<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5436962.00   | 0.28%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CITY & CNTY                                                   | DENVER CITY & CNTY 5% 12/01/38 | CUSIP: 249182LU8<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |    975000 | PA      | $1039490.89   | 0.05%             | 2038-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                           | NEW JERSEY ST TRAN 5% 06/15/34 | CUSIP: 6461364R9<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1097535.40   | 0.06%             | 2034-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                           | NEW JERSEY ST TRAN 5% 06/15/31 | CUSIP: 6461365C1<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    220000 | PA      | $245996.48    | 0.01%             | 2031-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PASCO CNTY FLA SCH BRD                                                    | PASCO CNTY FL SCH  5% 08/01/34 | CUSIP: 702528LM0<br>LEI: 549300NYEDMC7IDJPE68 | Long             | DBT              | MUN               | US        |   1880000 | PA      | $2181077.49   | 0.11%             | 2034-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PEAK MET DIST NO 1 COLO                                                   | PEAK MET DIST #1 C 5% 12/01/51 | CUSIP: 704676AC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1021858.38   | 0.05%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GENESEE CNTY MICH                                                         | GENESEE CNTY MI SW 4% 06/01/32 | CUSIP: 371643CG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $162808.95    | 0.01%             | 2032-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GENESEE CNTY MICH                                                         | GENESEE CNTY MI SW 4% 06/01/36 | CUSIP: 371643CL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $162774.27    | 0.01%             | 2036-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEWARK HIGHER ED FIN CORP TEX                                             | NEWARK HGR EDU FIN 5% 08/15/32 | CUSIP: 650346FH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $463409.60    | 0.02%             | 2032-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEXUS NORTH AT DIA MET DIST COLO                                          | NEXUS NORTH AT DIA 5% 12/01/51 | CUSIP: 65344KAB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1506057.71   | 0.08%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PEFA INC IOWA                                                             | PEFA INC IA GAS P V/R 09/01/49 | CUSIP: 70556CAB0<br>LEI: 549300RSE249DJNRHY07 | Long             | DBT              | MUN               | US        |   8190000 | PA      | $8503845.71   | 0.44%             | 2049-09-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECONOMIC DEV FING AUTH                                       | PENNSYLVANIA ST 5.25% 06/30/35 | CUSIP: 70868YAL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2249423.80   | 0.12%             | 2035-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CITY & CNTY                                                   | DENVER CITY & CNTY 5% 11/15/41 | CUSIP: 249182QT6<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1088082.80   | 0.06%             | 2041-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DETROIT MICH DOWNTOWN DEV AUTH                                            | DETROIT MI DOWNTOW 5% 07/01/33 | CUSIP: 251135GK9<br>LEI: 549300WO3NSMP6FECO66 | Long             | DBT              | MUN               | US        |    500000 | PA      | $512995.80    | 0.03%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORFOLK VA REDEV & HSG AUTH                                               | NORFOLK VA REDEV & 4% 01/01/29 | CUSIP: 655909CJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1024987.81   | 0.05%             | 2029-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA AGRIC & TECHNICAL UNIV                                     | NORTH CAROLINA ST  5% 10/01/40 | CUSIP: 658187HA0<br>LEI: 5493004DU2QADMVXVR58 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1049923.40   | 0.05%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECONOMIC DEV FING AUTH                                       | PENNSYLVANIA ST 5.25% 06/30/36 | CUSIP: 70868YAM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1391170.13   | 0.07%             | 2036-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECONOMIC DEV FING AUTH                                       | PENNSYLVANIA ST E V/R 08/01/45 | CUSIP: 708692BG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2500048.00   | 0.13%             | 2045-08-01      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| DOVER PA AREA SCH DIST                                                    | DOVER PA AREA SCH  4% 04/01/32 | CUSIP: 260358NX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1165000 | PA      | $1236040.77   | 0.06%             | 2032-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EAST HEMPFIELD TWP PA INDL DEV AUTH                                       | E HEMPFIELD TWP PA 5% 12/01/28 | CUSIP: 273007CJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    715000 | PA      | $754927.03    | 0.04%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                           | NEW JERSEY ST TRAN 5% 12/15/30 | CUSIP: 6461364B4<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    500000 | PA      | $560197.30    | 0.03%             | 2030-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST WTR DEV AUTH                                                      | OHIO ST WTR DEV AU 5% 12/01/39 | CUSIP: 67765QMG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $818518.75    | 0.04%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOLLYWOOD BEACH CMNTY DEV DIST                                            | HOLLYWOOD BEACH FL 4% 10/01/35 | CUSIP: 43612PAZ7<br>LEI: 54930070G0CIEYSTT648 | Long             | DBT              | MUN               | US        |   2970000 | PA      | $3013830.96   | 0.16%             | 2035-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GENESEE CNTY MICH                                                         | GENESEE CNTY MI SW 4% 06/01/37 | CUSIP: 371643CM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $104108.49    | 0.01%             | 2037-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GENESEE CNTY MICH                                                         | GENESEE CNTY MI SW 4% 06/01/38 | CUSIP: 371643CN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $154924.37    | 0.01%             | 2038-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODINE RD NORTH CMNTY DEV DIST FLA                                       | RHODINE ROAD NOR 4.5% 05/01/40 | CUSIP: 762402AC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    815000 | PA      | $759225.07    | 0.04%             | 2040-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| RICHMOND VA                                                               | RICHMOND VA PUBLIC 4% 01/15/38 | CUSIP: 765433LE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5595000 | PA      | $5788482.37   | 0.30%             | 2038-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA CAP FACS FIN AGY                                           | NORTH CAROLINA ST  5% 05/01/28 | CUSIP: 65818PNJ4<br>LEI: 5493002CN61KBZY7M135 | Long             | DBT              | MUN               | US        |    400000 | PA      | $443592.72    | 0.02%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA CAP FACS FIN AGY                                           | NORTH CAROLINA ST  5% 06/01/26 | CUSIP: 65819JBT8<br>LEI: 549300PWNPSB7G58A235 | Long             | DBT              | MUN               | US        |    900000 | PA      | $949661.10    | 0.05%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EAST HEMPFIELD TWP PA INDL DEV AUTH                                       | E HEMPFIELD TWP PA 5% 12/01/29 | CUSIP: 273007CK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    770000 | PA      | $812186.91    | 0.04%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EASTERN KY UNIV                                                           | ESTRN KY UNIV GEN  5% 04/01/25 | CUSIP: 276552EP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1051106.10   | 0.05%             | 2025-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RIDGELINE VISTA MET DIST COLO                                             | RIDGELINE VISTA 5.25% 12/01/60 | CUSIP: 766089AA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $980460.60    | 0.05%             | 2060-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| RIVER ISLANDS PUB FING AUTH CALIF                                         | RIVER ISLANDS CA P 5% 09/01/43 | CUSIP: 76827QDV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $507439.60    | 0.03%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GEO L SMITH II GA WORLD CONGRESS CTR AUTH                                 | GEO L SMITH II GA  4% 01/01/36 | CUSIP: 37255MAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $234827.48    | 0.01%             | 2036-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GEO L SMITH II GA WORLD CONGRESS CTR AUTH                                 | GEO L SMITH II GA  4% 01/01/54 | CUSIP: 37255MAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $839372.80    | 0.04%             | 2054-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TPK COMMN                                                 | PENNSYLVANIA ST TU 0% 12/01/38 | CUSIP: 709223XW6<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    565000 | PA      | $647490.40    | 0.03%             | 2038-12-01      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |
| EDGEWATER EAST CMNTY DEV DIST FLA                                         | EDGEWATER EAST C 2.5% 05/01/26 | CUSIP: 280286AA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    420000 | PA      | $396407.72    | 0.02%             | 2026-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| EDGEWATER EAST CMNTY DEV DIST FLA                                         | EDGEWATER EAST CDD 4% 05/01/51 | CUSIP: 280286AD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $798233.30    | 0.04%             | 2051-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HOMEWOOD ALA EDL BLDG AUTH                                                | HOMEWOOD AL EDUCTN 4% 12/01/34 | CUSIP: 437887GF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    950000 | PA      | $978759.54    | 0.05%             | 2034-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HONOLULU HAWAII CITY & CNTY                                               | HONOLULU CITY & CN 5% 07/01/40 | CUSIP: 438701W59<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $503894.94    | 0.03%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MED CARE COMMN                                             | NORTH CAROLINA ST V/R 02/01/51 | CUSIP: 65820HN90<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1604402.85   | 0.08%             | 2051-02-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCKFORD ILL                                                              | ROCKFORD IL 5% 12/15/26        | CUSIP: 77316QZY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    645000 | PA      | $707681.87    | 0.04%             | 2026-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GEORGIA ST HIGHER ED FACS AUTH                                            | GEORGIA ST HGR EDU 5% 06/15/34 | CUSIP: 373511HY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $839801.18    | 0.04%             | 2034-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF DEPT ARPTS                                              | LOS ANGELES CA D 5.5% 05/15/35 | CUSIP: 544445B65<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1762296.00   | 0.09%             | 2035-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF DEPT ARPTS                                              | LOS ANGELES CA DEP 5% 05/15/31 | CUSIP: 544445BV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $426128.84    | 0.02%             | 2031-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HONOLULU HAWAII CITY & CNTY                                               | HONOLULU CITY & CN 4% 07/01/32 | CUSIP: 438701ZT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2450000 | PA      | $2535713.74   | 0.13%             | 2032-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TEX                                                               | HOUSTON TX ARPT SY 5% 07/01/27 | CUSIP: 442349DG8<br>LEI: 549300C64URYS0WQQY42 | Long             | DBT              | MUN               | US        |   1770000 | PA      | $1819264.76   | 0.09%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TEX                                                               | HOUSTON TX ARPT SY 4% 07/01/39 | CUSIP: 442349FU5<br>LEI: 549300C64URYS0WQQY42 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2470818.00   | 0.13%             | 2039-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IRVINE CALIF UNI SCH DIST                                                 | IRVINE CA UNIF SCH 5% 09/01/32 | CUSIP: 463612MQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $398960.55    | 0.02%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF DEPT ARPTS                                              | LOS ANGELES CA DEP 5% 05/15/41 | CUSIP: 544445F20<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1340000 | PA      | $1460394.71   | 0.08%             | 2041-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF DEPT ARPTS                                              | LOS ANGELES CA DEP 5% 05/15/33 | CUSIP: 544445P94<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    190000 | PA      | $220580.16    | 0.01%             | 2033-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IRVINE CALIF UNI SCH DIST                                                 | IRVINE CA UNIF SCH 5% 09/01/34 | CUSIP: 463612MS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $135218.50    | 0.01%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JEA FLA                                                                   | JEA FL WTR & SWR R 4% 10/01/39 | CUSIP: 46613P3W4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2980000 | PA      | $3029612.53   | 0.16%             | 2039-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PANAMA CITY BEACH FLA                                                     | PANAMA CITY BEACH  5% 11/01/33 | CUSIP: 698148AZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    685000 | PA      | $798622.80    | 0.04%             | 2033-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PARK CREEK MET DIST COLO                                                  | PARK CREEK CO MET  5% 12/01/24 | CUSIP: 700387CY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2460000 | PA      | $2565228.47   | 0.13%             | 2024-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HSG FIN AGY                                                  | PENNSYLVANIA ST 3.45% 10/01/32 | CUSIP: 7087965V5<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   2810000 | PA      | $2800181.30   | 0.14%             | 2032-10-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF DEPT ARPTS                                              | LOS ANGELES CA DEP 5% 05/15/39 | CUSIP: 544445SU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4356596.80   | 0.22%             | 2039-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS RANCHOS DE ALBUQUERQUE NEW MEXICO                                     | LOS RANCHOS DE ALB 4% 09/01/33 | CUSIP: 545610BD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    565000 | PA      | $599768.80    | 0.03%             | 2033-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOS RANCHOS DE ALBUQUERQUE NEW MEXICO                                     | LOS RANCHOS DE ALB 4% 09/01/34 | CUSIP: 545610BE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $394119.38    | 0.02%             | 2034-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOS RANCHOS DE ALBUQUERQUE NEW MEXICO                                     | LOS RANCHOS DE ALB 4% 09/01/35 | CUSIP: 545610BF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $310827.51    | 0.02%             | 2035-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOUDOUN CNTY VA                                                           | LOUDOUN CNTY VA 4% 12/01/41    | CUSIP: 54589TMF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4590000 | PA      | $4824341.53   | 0.25%             | 2041-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA LOC GOVT ENVIRONMENTAL FACS & CMNTY DEV AUTH                    | LOUISIANA ST LOCAL 5% 10/01/37 | CUSIP: 54628CAR3<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1792643.03   | 0.09%             | 2037-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA LOC GOVT ENVIRONMENTAL FACS & CMNTY DEV AUTH                    | LOUISIANA ST LOC 3.5% 11/01/32 | CUSIP: 54628CDX7<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1434036.60   | 0.07%             | 2032-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY ARIZ INDL DEV AUTH                                          | MARICOPA CNTY AZ I 4% 07/01/34 | CUSIP: 56681NFL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    985000 | PA      | $1007307.89   | 0.05%             | 2034-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                           | NEW JERSEY ST TRA ZCP 12/15/25 | CUSIP: 646136EN7<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1290000 | PA      | $1186445.51   | 0.06%             | 2025-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                           | NEW JERSEY ST TRAN 5% 12/15/24 | CUSIP: 646136YA3<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    105000 | PA      | $109493.86    | 0.01%             | 2024-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                           | NEW JERSEY ST T 5.25% 12/15/23 | CUSIP: 646136YC9<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1430253.02   | 0.07%             | 2023-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TPK AUTH                                                    | NEW JERSEY ST TURN 5% 01/01/32 | CUSIP: 6461395B7<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2065776.40   | 0.11%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                           | NEW JERSEY ST T 5.25% 06/15/43 | CUSIP: 64613CCG1<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2734816.50   | 0.14%             | 2043-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO ST HOSP EQUIP LN COUNCIL                                       | NEW MEXICO ST HOSP 5% 06/01/32 | CUSIP: 647370KH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $906094.70    | 0.05%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO ST HOSP EQUIP LN COUNCIL                                       | NEW MEXICO ST HOSP 4% 06/01/33 | CUSIP: 647370KJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1021944.00   | 0.05%             | 2033-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH                                                     | NEW YORK ST DORM A 5% 07/01/31 | CUSIP: 65000BLB2<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    280000 | PA      | $327649.06    | 0.02%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MED CARE COMMN RETIREMENT FACS                             | NORTH CAROLINA ST  5% 10/01/35 | CUSIP: 65820YLT1<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1015305.10   | 0.05%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MED CARE COMMN RETIREMENT FACS                             | NORTH CAROLINA ST  5% 10/01/50 | CUSIP: 65820YRS7<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1395932.25   | 0.07%             | 2050-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MED CARE COMMN                                             | NORTH CAROLINA ST  5% 10/01/45 | CUSIP: 65821DXR7<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   1270000 | PA      | $1269902.08   | 0.07%             | 2045-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH FT BEND WTR AUTH TEX                                                | N FORT BEND TX WTR 3% 12/15/35 | CUSIP: 65944RSG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1570000 | PA      | $1497360.18   | 0.08%             | 2035-12-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NORTH SUMTER CNTY UTIL DEPENDENT DIST FLA                                 | N SUMTER CNTY FL U 4% 10/01/41 | CUSIP: 66272REE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    780000 | PA      | $787667.40    | 0.04%             | 2041-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SHARONVILLE OHIO                                                          | SHARONVILLE OH SPL 4% 12/01/39 | CUSIP: 819878BP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $565949.95    | 0.03%             | 2039-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SIMI VALLEY CALIF UNI SCH DIST                                            | SIMI VLY CA UNIF S 4% 08/01/39 | CUSIP: 828641XJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $381030.04    | 0.02%             | 2039-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SKY RANCH CMNTY AUTH BRD COLO                                             | SKY RANCH CMNTY 5.75% 12/01/52 | CUSIP: 83086SAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1440041.70   | 0.07%             | 2052-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA BRD REGTS                                                    | SOUTH DAKOTA ST BR 5% 04/01/29 | CUSIP: 837542FQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    420000 | PA      | $436825.83    | 0.02%             | 2029-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA SCH FIN AUTH                                                   | CALIFORNIA SCH FIN 5% 07/01/33 | CUSIP: 13059TGG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    480000 | PA      | $500446.51    | 0.03%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA SCH FIN AUTH                                                   | CALIFORNIA SCH FIN 5% 07/01/43 | CUSIP: 13059TGJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2039261.60   | 0.11%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA SCH FIN AUTH                                                   | CALIFORNIA SCH FIN 5% 07/01/40 | CUSIP: 13059TGN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    655000 | PA      | $668770.26    | 0.03%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                                                             | CALIFORNIA ST 5.25% 08/01/32   | CUSIP: 13062TH72<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4015000 | PA      | $4990973.43   | 0.26%             | 2032-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HEALTH & EDL FACS AUTH                                     | CONNECTICUT ST HLT 4% 07/01/47 | CUSIP: 20774Y3B1<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1030000 | PA      | $991698.52    | 0.05%             | 2047-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HEALTH & EDL FACS AUTH                                     | CONNECTICUT ST HLT 5% 07/01/26 | CUSIP: 20774Y3P0<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1081816.50   | 0.06%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HEALTH & EDL FACS AUTH                                     | CONNECTICUT ST HLT 5% 12/01/40 | CUSIP: 20774Y7F8<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2039682.20   | 0.11%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HEALTH & EDL FACS AUTH                                     | CONNECTICUT ST HLT 5% 07/01/36 | CUSIP: 20774YC62<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1050115.70   | 0.05%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HEALTH & EDL FACS AUTH                                     | CONNECTICUT ST HLT 5% 07/01/31 | CUSIP: 20774YXB8<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2366166.38   | 0.12%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HSG FIN AUTH                                               | CONNECTICUT ST  3.65% 11/15/32 | CUSIP: 20775CPZ1<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |    300000 | PA      | $296340.09    | 0.02%             | 2032-11-15      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HEALTH & EDL FACS AUTH                                     | CONNECTICUT ST HLT 5% 07/01/34 | CUSIP: 20775DEX6<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    500000 | PA      | $554400.45    | 0.03%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CRYSTAL VY COLO MET DIST NO 2                                             | CRYSTAL VLY CO MET 4% 12/01/35 | CUSIP: 22941LAQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | PA      | $352926.39    | 0.02%             | 2035-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONSOLIDATED WYO MUNICIPALTIES ELEC PWR SYS JT PWRS BRD                   | CONSOL MUNI ELE 5.25% 06/01/39 | CUSIP: 210295EW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1140954.50   | 0.06%             | 2039-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CORALVILLE IOWA                                                           | CORALVILLE IA 5% 05/01/38      | CUSIP: 218080EV7<br>LEI: 549300UKC7MMW46X6P25 | Long             | DBT              | MUN               | US        |   2385000 | PA      | $2450488.28   | 0.13%             | 2038-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CRYSTAL VY COLO MET DIST NO 2                                             | CRYSTAL VLY CO MET 4% 12/01/36 | CUSIP: 22941LAR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $529261.60    | 0.03%             | 2036-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND CNTY PA MUN AUTH                                               | CUMBERLAND CNTY PA 5% 01/01/25 | CUSIP: 230614KW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1179054.98   | 0.06%             | 2025-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CORPUS CHRISTI TEX                                                        | CORPUS CHRISTI TX  5% 07/15/35 | CUSIP: 220245U85<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $483635.73    | 0.02%             | 2035-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CREEKVIEW CMNTY DEV DIST FLA                                              | CREEKVIEW CDD  3.875% 05/01/27 | CUSIP: 225514AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $489431.20    | 0.03%             | 2027-05-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND CNTY PA MUN AUTH                                               | CUMBERLAND CNTY PA 5% 07/01/28 | CUSIP: 230614NC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1660000 | PA      | $1661228.57   | 0.09%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ENERGY NORTHWEST WASH                                                     | ENERGY N W WA ELEC 5% 07/01/38 | CUSIP: 29270CJ89<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1309117.88   | 0.07%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND CNTY PA MUN AUTH                                               | CUMBERLAND CNTY PA 5% 01/01/38 | CUSIP: 230614RZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    285000 | PA      | $298920.11    | 0.02%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND CNTY PA MUN AUTH                                               | CUMBERLAND CNTY PA 5% 01/01/30 | CUSIP: 230614SK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $147320.12    | 0.01%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND CNTY PA MUN AUTH                                               | CUMBERLAND CNTY PA 5% 01/01/38 | CUSIP: 230614SL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $353736.95    | 0.02%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CYPRESS ML CMNTY DEV DIST FLA                                             | CYPRESS ML CMNTY D 4% 06/15/40 | CUSIP: 23283YAG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $871050.10    | 0.04%             | 2040-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEE CNTY FLA INDL DEV AUTH                                                | LEE CNTY FL INDL D 4% 11/15/31 | CUSIP: 52349EEH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1115000 | PA      | $1066253.76   | 0.05%             | 2031-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MET GOVT NASHVILLE & DAVIDSON CNTY TENN H & E FACS BRD                    | MET GOVT NASHVILLE 5% 10/01/29 | CUSIP: 592041VS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1385000 | PA      | $1432989.28   | 0.07%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FULTON CNTY GA DEV AUTH                                                   | FULTON CNTY GA DEV 5% 07/01/35 | CUSIP: 36005FDK8<br>LEI: 549300533NJL38F4K144 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1130050.60   | 0.06%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GAINESVILLE & HALL CNTY GA HOSP AUTH                                      | GAINESVILLE & HALL 5% 02/15/26 | CUSIP: 362762LH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $42243.34     | 0.00%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GRAND CNTY UTAH SCH DIST LOC BLDG AUTH                                    | GRAND CNTY SCH DIS 5% 12/15/32 | CUSIP: 385375AM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1515000 | PA      | $1604617.25   | 0.08%             | 2032-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GRAND TRAVERSE CNTY MICH HOSP FIN AUTH                                    | GRAND TRAVERSE CNT 5% 07/01/44 | CUSIP: 386523GW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    735000 | PA      | $767153.60    | 0.04%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI CNTY OHIO                                                           | MIAMI CNTY OH HOSP 5% 08/01/32 | CUSIP: 593328FF9<br>LEI: 549300YAYSF4ZQH3JU54 | Long             | DBT              | MUN               | US        |    960000 | PA      | $1056341.76   | 0.05%             | 2032-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FLA INDL DEV AUTH                                         | MIAMI-DADE CNTY FL 5% 01/15/32 | CUSIP: 59333EEB5<br>LEI: 549300RM19LZY32DAU30 | Long             | DBT              | MUN               | US        |    550000 | PA      | $575114.65    | 0.03%             | 2032-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES WTR AUTH MICH                                                 | GREAT LAKES MI WTR 5% 07/01/31 | CUSIP: 39081JAL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1084271.90   | 0.06%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRI-CNTY MET TRANSN DIST ORE                                              | TRI-CNTY OR MET TR 5% 10/01/32 | CUSIP: 89546RPT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4950000 | PA      | $5494537.13   | 0.28%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GAINESVILLE & HALL CNTY GA HOSP AUTH                                      | GAINESVILLE & HALL 4% 02/15/39 | CUSIP: 362762PQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5800000 | PA      | $5846638.96   | 0.30%             | 2039-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GAITHERSBURG MD                                                           | GAITHERSBURG MD  4.5% 01/01/25 | CUSIP: 363128CL1<br>LEI: 549300UFHDHDCHDE0F65 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006971.80   | 0.05%             | 2025-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FLA INDL DEV AUTH                                         | MIAMI-DADE CNTY FL 5% 01/15/37 | CUSIP: 59333EEC3<br>LEI: 549300RM19LZY32DAU30 | Long             | DBT              | MUN               | US        |   1210000 | PA      | $1233911.78   | 0.06%             | 2037-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FLA                                                       | MIAMI-DADE CNTY FL 5% 10/01/35 | CUSIP: 59333NYT4<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   1080000 | PA      | $1150880.62   | 0.06%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FLA                                                       | MIAMI-DADE CNTY FL 5% 10/01/38 | CUSIP: 59333PR75<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   2575000 | PA      | $2636937.51   | 0.14%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH                                                         | MICHIGAN ST FIN AU 5% 07/01/29 | CUSIP: 59447PA76<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   2460000 | PA      | $2540870.53   | 0.13%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GALVESTON CNTY TEX MUN UTIL DIST NO 54                                    | GALVESTON CNTY T 2.5% 12/01/31 | CUSIP: 36422RED2<br>LEI: 549300NDSKYO7GGWW222 | Long             | DBT              | MUN               | US        |   1170000 | PA      | $1033540.79   | 0.05%             | 2031-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GALVESTON TEX INDPT SCH DIST                                              | GALVESTON TX INDEP 5% 02/01/36 | CUSIP: 364496QH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1708016.70   | 0.09%             | 2036-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH                                                         | MICHIGAN ST FI 3.875% 10/01/23 | CUSIP: 59447TDX8<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |    125000 | PA      | $125119.74    | 0.01%             | 2023-10-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH                                                         | MICHIGAN ST FIN AU 5% 07/01/34 | CUSIP: 59447TFX6<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1043018.40   | 0.05%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GALVESTON TEX INDPT SCH DIST                                              | GALVESTON TX INDEP 5% 02/01/37 | CUSIP: 364496QJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1980862.10   | 0.10%             | 2037-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GEORGIA ST HIGHER ED FACS AUTH                                            | GEORGIA ST HGR EDU 5% 06/15/35 | CUSIP: 373511HZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    890000 | PA      | $988381.49    | 0.05%             | 2035-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH                                                         | MICHIGAN ST FIN AU 5% 11/15/41 | CUSIP: 59447TMN0<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |   7905000 | PA      | $8171991.38   | 0.42%             | 2041-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MILITARY INSTALLATION DEV AUTH UTAH                                       | MILITARY INSTALLAT 4% 06/01/52 | CUSIP: 599772AC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1348660.95   | 0.07%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MILITARY INSTALLATION DEV AUTH UTAH                                       | MILITARY INSTALLAT 4% 06/01/41 | CUSIP: 599772AE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1235711.25   | 0.06%             | 2041-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MILITARY INSTALLATION DEV AUTH UTAH                                       | MILITARY INSTALLAT 4% 06/01/52 | CUSIP: 599772AF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $947246.38    | 0.05%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GEORGIA ST HSG & FIN AUTH                                                 | GEORGIA ST HSG  3.25% 12/01/33 | CUSIP: 37353PAG4<br>LEI: 549300I628IMF9PWV724 | Long             | DBT              | MUN               | US        |   2525000 | PA      | $2528118.12   | 0.13%             | 2033-12-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| GILROY CALIF UNI SCH DIST                                                 | GILROY CA UNIF SCH 4% 08/01/39 | CUSIP: 376087HF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $305945.37    | 0.02%             | 2039-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GLENDALE ARIZ INDL DEV AUTH                                               | GLENDALE AZ INDL D 5% 11/15/42 | CUSIP: 378287AV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4084816.40   | 0.21%             | 2042-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREENVILLE N C                                                            | GREENVILLE NC COMB 5% 04/01/28 | CUSIP: 396290CM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $815892.90    | 0.04%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MILLSBORO DEL                                                             | MILLSBORO DE SPL O 5% 07/01/28 | CUSIP: 601266AB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2076000 | PA      | $2098815.03   | 0.11%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA MUN GAS AGY                                                     | MINNESOTA MUNI GAS 4% 12/01/25 | CUSIP: 60406UAG2<br>LEI: 549300SISI6N1C6S3136 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2550046.25   | 0.13%             | 2025-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MONROE N C                                                                | MONROE NC COMB ENT 5% 03/01/28 | CUSIP: 611190EA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1330000 | PA      | $1435231.06   | 0.07%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTANA FAC FIN AUTH                                                      | MONTANA ST FAC FIN 5% 02/15/25 | CUSIP: 61204KKR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    740000 | PA      | $768109.34    | 0.04%             | 2025-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GUAM INTL ARPT AUTH                                                       | GUAM INTERNATI 6.125% 10/01/43 | CUSIP: 40064REQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5107647.50   | 0.26%             | 2043-10-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| GUAM PORT AUTH                                                            | GUAM PORT AUTH POR 5% 07/01/32 | CUSIP: 400652AJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $325514.61    | 0.02%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTANA FAC FIN AUTH                                                      | MONTANA ST FAC FIN 5% 02/15/29 | CUSIP: 61204KKV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $139095.26    | 0.01%             | 2029-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN CORP                                        | NEW HOPE CULTURAL  4% 08/15/36 | CUSIP: 64542QCF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1810463.60   | 0.09%             | 2036-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT WTRWKS AUTH                                                     | GUAM GOVT WTRWKS A 5% 01/01/50 | CUSIP: 40065FDF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1029396.80   | 0.05%             | 2050-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GULF SHORES ALA                                                           | GULF SHORES AL 5% 12/15/35     | CUSIP: 402517UT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $455052.98    | 0.02%             | 2035-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN CORP                                        | NEW HOPE CULTURAL  5% 01/01/32 | CUSIP: 64542UDT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1194831.96   | 0.06%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN CORP                                        | NEW HOPE CULTURAL  5% 01/01/50 | CUSIP: 64542UEZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $194076.95    | 0.01%             | 2050-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GULF SHORES ALA                                                           | GULF SHORES AL 5% 12/15/38     | CUSIP: 402517UW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    310000 | PA      | $337350.90    | 0.02%             | 2038-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAMDEN CONN                                                               | HAMDEN CT 6% 08/15/33          | CUSIP: 4067926Z9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $732231.88    | 0.04%             | 2033-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH                                              | NEW JERSEY ST ECON 5% 06/15/39 | CUSIP: 64577B7P3<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3461831.75   | 0.18%             | 2039-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH                                              | NEW JERSEY ST ECON 5% 06/15/31 | CUSIP: 64577XCG9<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1211941.19   | 0.06%             | 2031-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH                                                         | MICHIGAN ST FIN AU 4% 11/15/35 | CUSIP: 59447TML4<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   4050000 | PA      | $4121407.17   | 0.21%             | 2035-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TWY AUTH                                                      | NEW YORK ST THRUWA 5% 03/15/40 | CUSIP: 650028YS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2225000 | PA      | $2521403.38   | 0.13%             | 2040-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RENO NEV                                                                  | RENO NV CAPITAL IM 5% 06/01/31 | CUSIP: 759831CT5<br>LEI: 549300M4R5WWSUWY8D52 | Long             | DBT              | MUN               | US        |    275000 | PA      | $298911.25    | 0.02%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HEALTH & EDL BLDG CORP                                    | RHODE ISLAND ST HL 5% 05/15/29 | CUSIP: 762244FG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1169610.75   | 0.06%             | 2029-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HEALTH & EDL BLDG CORP                                    | RHODE ISLAND ST HL 5% 05/15/32 | CUSIP: 762244FK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1460000 | PA      | $1511399.45   | 0.08%             | 2032-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODINE RD NORTH CMNTY DEV DIST FLA                                       | RHODINE ROAD NOR 3.5% 05/01/24 | CUSIP: 762402AA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     85000 | PA      | $84219.43     | 0.00%             | 2024-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| RIDGE AT APOPKA CMNTY DEV DIST FLA                                        | RIDGE AT APOPK 5.375% 05/01/42 | CUSIP: 76571AAC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $501989.05    | 0.03%             | 2042-05-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CALIF CITY & CNTY REDEV AGY SUCCESSOR AGY                   | SAN FRANCISCO CITY 5% 08/01/35 | CUSIP: 79770GEQ5<br>LEI: 5493001TPOZL3UK8DX25 | Long             | DBT              | MUN               | US        |    280000 | PA      | $300319.94    | 0.02%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CALIF CITY & CNTY CMNTY FACS DIST NO 2016-1                 | SAN FRANCISCO CITY 4% 09/01/29 | CUSIP: 79773JAJ6<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |    185000 | PA      | $191037.18    | 0.01%             | 2029-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH ALA                                                 | SOUTHEAST ENERGY  V/R 11/01/51 | CUSIP: 84136FAH0<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   8050000 | PA      | $8060449.71   | 0.42%             | 2051-11-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH ALA                                                 | SOUTHEAST ENERGY  V/R 05/01/53 | CUSIP: 84136FBB2<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2096883.80   | 0.11%             | 2053-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| BRECKENRIDGE COLO                                                         | BRECKENRIDGE CO CO 5% 12/01/32 | CUSIP: 106443BP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $264610.94    | 0.01%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRECKENRIDGE COLO                                                         | BRECKENRIDGE CO CO 4% 12/01/39 | CUSIP: 106443BS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1240000 | PA      | $1272115.38   | 0.07%             | 2039-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HARBOR POINT INFRASTRUCTURE IMPT DIST CONN                                | HARBOR POINT CT IN 5% 04/01/39 | CUSIP: 41154VAK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500580.00    | 0.03%             | 2039-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TEX                                                           | HARRIS CNTY TX 5% 08/15/36     | CUSIP: 414005VR6<br>LEI: 549300G9BRP25M0W1S40 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1161073.65   | 0.06%             | 2036-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TEX                                                           | HARRIS CNTY TX 5% 08/15/36     | CUSIP: 414005WR5<br>LEI: 549300G9BRP25M0W1S40 | Long             | DBT              | MUN               | US        |   2600000 | PA      | $2791942.66   | 0.14%             | 2036-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TEX CULTURAL ED FACS FIN CORP                                 | HARRIS CNTY TX CUL 4% 11/15/30 | CUSIP: 414008CD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1038518.00   | 0.05%             | 2030-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HAWAII ST                                                                 | HAWAII ST 4% 10/01/33          | CUSIP: 419792LQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4980000 | PA      | $5207083.52   | 0.27%             | 2033-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HAWAII ST                                                                 | HAWAII ST ARPTS SY 5% 07/01/43 | CUSIP: 419794A44<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3460000 | PA      | $3621069.23   | 0.19%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOLLYWOOD FLA CMNTY REDEV AGY                                             | HOLLYWOOD FL CMNTY 5% 03/01/23 | CUSIP: 436150BC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $125223.84    | 0.01%             | 2023-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN GOVT NASHVILLE & DAVIDSON CNTY TENN                          | MET GOVT NASHVILLE 4% 01/01/37 | CUSIP: 592112VX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3157245.90   | 0.16%             | 2037-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MIAMI WORLD CTR CMNTY DEV DIST FLA                                        | MIAMI WORLD CENTER 4% 11/01/23 | CUSIP: 593856AA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $95058.79     | 0.00%             | 2023-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MIAMI WORLD CTR CMNTY DEV DIST FLA                                        | MIAMI WORLD CEN 4.75% 11/01/27 | CUSIP: 593856AB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $279577.68    | 0.01%             | 2027-11-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| HOMEWOOD ALA EDL BLDG AUTH                                                | HOMEWOOD AL EDUCTN 4% 12/01/33 | CUSIP: 437887GE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $416122.40    | 0.02%             | 2033-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TEX                                                               | HOUSTON TX ARPT SY 5% 07/15/27 | CUSIP: 442349DH6<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2826884.50   | 0.15%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI WORLD CTR CMNTY DEV DIST FLA                                        | MIAMI WORLD CE 5.125% 11/01/39 | CUSIP: 593856AC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2013567.60   | 0.10%             | 2039-11-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH                                                         | MICHIGAN ST FIN AU 5% 12/01/25 | CUSIP: 594479CP0<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    890000 | PA      | $899094.73    | 0.05%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TEX                                                               | HOUSTON TX ARPT SY 4% 07/01/40 | CUSIP: 442349FV3<br>LEI: 549300C64URYS0WQQY42 | Long             | DBT              | MUN               | US        |    250000 | PA      | $246387.78    | 0.01%             | 2040-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TEX                                                               | HOUSTON TX ARPT SY 4% 07/15/41 | CUSIP: 442349GA8<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1802517.00   | 0.09%             | 2041-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH                                                         | MICHIGAN ST FIN AU 5% 07/01/30 | CUSIP: 59447PE98<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7207449.90   | 0.37%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH                                                         | MICHIGAN ST FIN AU 5% 07/01/27 | CUSIP: 59447TFC2<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |    325000 | PA      | $341301.03    | 0.02%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH                                                       | INDIANA ST FIN AUT 5% 09/15/34 | CUSIP: 45506D4Y8<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    500000 | PA      | $538164.70    | 0.03%             | 2034-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH                                                       | INDIANA ST FIN AUT 5% 09/01/31 | CUSIP: 45506DA62<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    275000 | PA      | $295017.53    | 0.02%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y                                                              | NEW YORK NY 5.25% 10/01/41     | CUSIP: 64966QK90<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   2925000 | PA      | $3383711.96   | 0.17%             | 2041-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY TRANSITIONAL FIN AUTH                                   | NEW YORK CITY NY T 5% 08/01/37 | CUSIP: 64971WWP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1056072.80   | 0.05%             | 2037-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH                                                       | INDIANA ST FIN AUT 5% 07/01/40 | CUSIP: 45506DGY5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1513385.10   | 0.08%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH                                                       | INDIANA ST FIN  5.75% 11/15/28 | CUSIP: 45506DKX2<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    460000 | PA      | $468870.41    | 0.02%             | 2028-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY TRANSITIONAL FIN AUTH                                   | NEW YORK CITY NY T 4% 11/01/37 | CUSIP: 64971XNF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10242900.00  | 0.53%             | 2037-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY TRANSITIONAL FIN AUTH                                   | NEW YORK CITY NY T 4% 11/01/38 | CUSIP: 64971XNG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2549344.75   | 0.13%             | 2038-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ACADEMICAL VLG CMNTY DEV DIST FLA                                         | ACADEMICAL VLG 2.875% 05/01/25 | CUSIP: 00401TAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    380000 | PA      | $367421.73    | 0.02%             | 2025-05-01      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| ACADEMICAL VLG CMNTY DEV DIST FLA                                         | ACADEMICAL VLG 3.625% 05/01/40 | CUSIP: 00401TAC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $819567.00    | 0.04%             | 2040-05-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY TRANSITIONAL FIN AUTH                                   | NEW YORK CITY N 5.25% 08/01/40 | CUSIP: 64971XX37<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4686016.00   | 0.24%             | 2040-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY MUN WTR FIN AUTH                                        | NEW YORK CITY NY M 4% 06/15/33 | CUSIP: 64972GKH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4285000 | PA      | $4469357.41   | 0.23%             | 2033-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LAMMERSVILLE CALIF JT UNI SCH DIST                                        | LAMMERSVILLE CA JT 5% 09/01/42 | CUSIP: 513533DJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $854503.40    | 0.04%             | 2042-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER CNTY PA HOSP AUTH                                               | LANCASTER CNTY PA  5% 03/01/45 | CUSIP: 514045V67<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $646532.03    | 0.03%             | 2045-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY MUN WTR FIN AUTH                                        | NEW YORK CITY NY M 5% 06/15/40 | CUSIP: 64972GSQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $192519.08    | 0.01%             | 2040-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY MUN WTR FIN AUTH                                        | NEW YORK CITY NY M 4% 06/15/42 | CUSIP: 64972GVH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $752022.23    | 0.04%             | 2042-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ADAMS & WELD CNTYS COLO SCH DIST NO 27J BRIGHTON                          | ADAMS & WELD CNTYS 5% 12/01/40 | CUSIP: 005518VM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5267472.00   | 0.27%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALBUQUERQUE N MEX MUN SCH DIST NO 12                                      | ALBUQUERQUE NM MUN 4% 08/01/32 | CUSIP: 013595WM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $352193.04    | 0.02%             | 2032-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER CNTY PA HOSP AUTH                                               | LANCASTER CNTY PA  5% 11/01/38 | CUSIP: 514045V91<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1090883.00   | 0.06%             | 2038-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER CNTY PA HOSP AUTH                                               | LANCASTER CNTY PA  5% 11/01/39 | CUSIP: 514045W25<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1085134.80   | 0.06%             | 2039-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH                                                     | NEW YORK ST DORM A 5% 03/15/34 | CUSIP: 64990EW86<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2850000 | PA      | $3031091.00   | 0.16%             | 2034-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HEALTH & EDL BLDG CORP                                    | RHODE ISLAND ST HL 5% 05/15/39 | CUSIP: 762244FP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1726716.01   | 0.09%             | 2039-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALBUQUERQUE N MEX                                                         | ALBUQUERQUE NM REF 5% 07/01/32 | CUSIP: 013630ED6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    185000 | PA      | $217590.58    | 0.01%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA HOSP DEV AUTH                                           | ALLEGHENY CNTY PA  5% 07/15/34 | CUSIP: 01728A4V5<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |    505000 | PA      | $567424.51    | 0.03%             | 2034-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RIVER ISLANDS PUB FING AUTH CALIF                                         | RIVER ISLANDS CA P 4% 09/01/33 | CUSIP: 76827QEK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $501422.00    | 0.03%             | 2033-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RIVERSIDE CALIF UNI SCH DIST                                              | RIVERSIDE CA UNIF  4% 08/01/35 | CUSIP: 769059ZQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $523491.60    | 0.03%             | 2035-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER CNTY PA HOSP AUTH                                               | LANCASTER CNTY PA  5% 11/01/40 | CUSIP: 514045W33<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1735000 | PA      | $1872056.50   | 0.10%             | 2040-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH WEST HENDRICKS MULTI-SCH BLDG CORP IND                              | N W HENDRICKS IN M 4% 07/15/32 | CUSIP: 66328RDH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $427369.40    | 0.02%             | 2032-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALTOONA IOWA                                                              | ALTOONA IA 5% 06/01/34         | CUSIP: 021753XE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    720000 | PA      | $812364.84    | 0.04%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUTLER CNTY OHIO                                                          | BUTLER CNTY OH HOS 5% 11/15/31 | CUSIP: 123550HQ1<br>LEI: 54930064OLVQO8IVR655 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1627803.30   | 0.08%             | 2031-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA BRD REGTS                                                    | SOUTH DAKOTA ST BR 5% 04/01/30 | CUSIP: 837542HW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1116375.00   | 0.06%             | 2030-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA ST HEALTH & EDL FACS AUTH                                    | SOUTH DAKOTA ST HL 3% 09/01/28 | CUSIP: 83755VN83<br>LEI: 549300ZW6LKR8UI2C378 | Long             | DBT              | MUN               | US        |    200000 | PA      | $195795.72    | 0.01%             | 2028-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NORTH WEST HENDRICKS MULTI-SCH BLDG CORP IND                              | N W HENDRICKS IN M 4% 07/15/33 | CUSIP: 66328RDJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $532939.30    | 0.03%             | 2033-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                                    | F/C US 10YR ULTRA FUT MAR23    | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |      -845 | NC      | $-752802.49   | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| MARINA COAST WTR DIST CALIF                                               | MARINA COAST CA WT 4% 06/01/44 | CUSIP: 56808PBU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1271547.90   | 0.07%             | 2044-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA ST HEALTH & EDL FACS AUTH                                    | SOUTH DAKOTA ST HL 5% 11/01/35 | CUSIP: 83755VZU1<br>LEI: 549300ZW6LKR8UI2C378 | Long             | DBT              | MUN               | US        |    105000 | PA      | $109673.42    | 0.01%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH SAN FRANCISCO CALIF PUB FACS FING AUTH                              | SOUTH SAN FRANCISC 4% 06/01/33 | CUSIP: 840035AN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    340000 | PA      | $374067.52    | 0.02%             | 2033-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH SAN FRANCISCO CALIF PUB FACS FING AUTH                              | SOUTH SAN FRANCISC 4% 06/01/34 | CUSIP: 840035AP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $436596.20    | 0.02%             | 2034-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH SUBN PK & REC DIST COLO                                             | SOUTH SUBURBAN PAR 4% 12/15/35 | CUSIP: 84049EAR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2015000 | PA      | $2080158.85   | 0.11%             | 2035-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARQUETTE MICH BRD LT & PWR                                               | MARQUETTE MI BRD O 5% 07/01/29 | CUSIP: 571498CR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1079431.90   | 0.06%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST                                                               | MARYLAND ST 4% 06/01/29        | CUSIP: 574193MX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5111542.50   | 0.26%             | 2029-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTHCENTRAL PA GEN AUTH                                                  | SOUTHCENTRL PA GEN 5% 12/01/23 | CUSIP: 84129NKC2<br>LEI: 549300QBNU5LBV4QX812 | Long             | DBT              | MUN               | US        |    405000 | PA      | $412196.53    | 0.02%             | 2023-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ALA GAS SUPPLY DIST                                             | S E ALABAMA ST GA V/R 04/01/49 | CUSIP: 84131TAF9<br>LEI: 549300BL04JIB2GJZ178 | Long             | DBT              | MUN               | US        |    110000 | PA      | $110301.83    | 0.01%             | 2049-04-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH                                                     | ARIZONA ST INDL DE 5% 08/01/28 | CUSIP: 04052ADJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1140379.80   | 0.06%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH                                                     | ARIZONA ST INDL DE 5% 07/01/37 | CUSIP: 04052BCQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $375866.33    | 0.02%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ALA GAS SUPPLY DIST                                             | S E ALABAMA ST GA V/R 06/01/49 | CUSIP: 84131TAQ5<br>LEI: 549300BL04JIB2GJZ178 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3007075.80   | 0.16%             | 2049-06-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH ALA                                                 | SOUTHEAST ENERGY  V/R 01/01/53 | CUSIP: 84136FBL0<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1633849.50   | 0.08%             | 2053-01-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST ECONOMIC DEV CORP                                             | MARYLAND ST ECON D 5% 06/01/35 | CUSIP: 57420VPB3<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |   2490000 | PA      | $2628982.09   | 0.14%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST ECONOMIC DEV CORP                                             | MARYLAND ST ECON D 4% 07/01/40 | CUSIP: 57420VRG0<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |    500000 | PA      | $480543.35    | 0.02%             | 2040-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH                                                     | ARIZONA ST INDL DE 5% 11/01/31 | CUSIP: 04052FAM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $452314.60    | 0.02%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH                                                     | ARIZONA ST INDL DE 5% 11/01/33 | CUSIP: 04052FAP0<br>LEI: 549300UXW2QG1W1XXQ37 | Long             | DBT              | MUN               | US        |   1005000 | PA      | $1087174.93   | 0.06%             | 2033-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST OVERTOWN PK WEST CMNTY REDEV AGY FLA                            | S E OVERTOWN PARK  5% 03/01/30 | CUSIP: 841466AK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2294791.20   | 0.12%             | 2030-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEASTERN PA TRANSN AUTH PA                                            | S ESTRN PA TRAN 5.25% 06/01/40 | CUSIP: 842039FL8<br>LEI: 5493000NDNE24ONUHZ06 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2335972.40   | 0.12%             | 2040-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST ECONOMIC DEV CORP                                             | MARYLAND ST ECON D 5% 07/01/55 | CUSIP: 57420VRJ4<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1691590.56   | 0.09%             | 2055-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST HEALTH & HIGHER EDL FACS AUTH                                 | MARYLAND ST HLTH & 5% 07/01/30 | CUSIP: 5742182X0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $861162.96    | 0.04%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEASTERN PA TRANSN AUTH PA                                            | S ESTRN PA TRAN 5.25% 06/01/41 | CUSIP: 842039FM6<br>LEI: 5493000NDNE24ONUHZ06 | Long             | DBT              | MUN               | US        |   3650000 | PA      | $4240508.68   | 0.22%             | 2041-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TAMPA FLA                                                                 | TAMPA FL HOSP REVE 5% 07/01/34 | CUSIP: 875161CV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $278420.83    | 0.01%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST HEALTH & HIGHER EDL FACS AUTH                                 | MARYLAND ST HLTH & 5% 07/01/32 | CUSIP: 5742182Z5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1074695.10   | 0.06%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN GOVT NASHVILLE & DAVIDSON CNTY TENN HEALTH & EDL FACS BRD    | MET GOVT NASHVILLE 5% 10/01/34 | CUSIP: 592029AC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $420433.64    | 0.02%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TAMPA FLA                                                                 | TAMPA FL HOSP REVE 5% 07/01/35 | CUSIP: 875161CW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $501327.83    | 0.03%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST                                                                   | OHIO ST HOSP REVEN 5% 01/15/35 | CUSIP: 67756CDZ8<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |    325000 | PA      | $358348.28    | 0.02%             | 2035-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TPK COMMN                                                 | PENNSYLVANIA ST TU 5% 12/01/33 | CUSIP: 709224EX3<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1045704.30   | 0.05%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TPK COMMN                                                 | PENNSYLVANIA ST TU 5% 12/01/30 | CUSIP: 709224MP1<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    550000 | PA      | $586972.43    | 0.03%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORTLAND ORE                                                              | PORTLAND OR SWR  4.5% 05/01/31 | CUSIP: 736742ZK6<br>LEI: 254900RPNQMJF9NBMF52 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2659974.25   | 0.14%             | 2031-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ALBUQUERQUE N MEX                                                         | ALBUQUERQUE NM REF 5% 07/01/33 | CUSIP: 013630EE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $338987.76    | 0.02%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA HOSP DEV AUTH                                           | ALLEGHENY CNTY PA  4% 07/15/35 | CUSIP: 01728A4W3<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |   3050000 | PA      | $3130374.82   | 0.16%             | 2035-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA HOSP DEV AUTH                                           | ALLEGHENY CNTY PA  4% 07/15/36 | CUSIP: 01728A4X1<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |   2180000 | PA      | $2211635.07   | 0.11%             | 2036-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA HOSP DEV AUTH                                           | ALLEGHENY CNTY PA  4% 07/15/37 | CUSIP: 01728A4Y9<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |   2095000 | PA      | $2116104.40   | 0.11%             | 2037-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA HOSP DEV AUTH                                           | ALLEGHENY CNTY PA  4% 07/15/38 | CUSIP: 01728A5A0<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |   2650000 | PA      | $2671518.00   | 0.14%             | 2038-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BIRMINGHAM ALA WTRWKS BRD                                                 | BIRMINGHAM AL WTRW 4% 01/01/34 | CUSIP: 091096KU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    940000 | PA      | $1003982.23   | 0.05%             | 2034-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALLEN CNTY OHIO                                                           | ALLEN CNTY OH HOSP 5% 08/01/42 | CUSIP: 01757LGE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2600000 | PA      | $2760946.24   | 0.14%             | 2042-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLISON VY MET DIST NO 2 COLO                                             | ALLISON VLY MET  4.7% 12/01/47 | CUSIP: 01973MAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $941119.54    | 0.05%             | 2047-12-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| ALTOONA IOWA                                                              | ALTOONA IA 5% 06/01/33         | CUSIP: 021753XD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1130115.70   | 0.06%             | 2033-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                               | ILLINOIS ST 5% 06/01/27        | CUSIP: 452152D40<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    125000 | PA      | $132195.03    | 0.01%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRAIRIE CTR MET DIST NO 3 COLO LTD PPTY TAX SUPPORTED PRIMARY IMPTS       | PRAIRIE CENTER 4.125% 12/15/27 | CUSIP: 739476AD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $496171.30    | 0.03%             | 2027-12-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| PRAIRIE CTR MET DIST NO 3 COLO LTD PPTY TAX SUPPORTED PRIMARY IMPTS       | PRAIRIE CENTER CO  5% 12/15/41 | CUSIP: 739476AE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1499902.65   | 0.08%             | 2041-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH                                                     | ARIZONA ST INDL DE 5% 11/01/37 | CUSIP: 04052FAT2<br>LEI: 549300UXW2QG1W1XXQ37 | Long             | DBT              | MUN               | US        |    465000 | PA      | $490817.73    | 0.03%             | 2037-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARMSTRONG SCH DIST PA                                                     | ARMSTRONG PA SCH D 5% 03/15/31 | CUSIP: 042467MG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $1041482.52   | 0.05%             | 2031-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                               | ILLINOIS ST 4% 08/01/25        | CUSIP: 452152MN8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    320000 | PA      | $320272.74    | 0.02%             | 2025-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                               | ILLINOIS ST 5% 11/01/29        | CUSIP: 452152P21<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   6200000 | PA      | $6624372.64   | 0.34%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                               | ILLINOIS ST 4% 12/01/37        | CUSIP: 452153CB3<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1959223.80   | 0.10%             | 2037-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH                                                       | INDIANA FIN AUT 4.25% 11/01/30 | CUSIP: 45470CAG4<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2983648.80   | 0.15%             | 2030-11-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PRAIRIE CTR MET DIST NO 7 COLO                                            | PRAIRIE CTR ME 4.875% 12/15/44 | CUSIP: 739491AB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $615013.28    | 0.03%             | 2044-12-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| PRICHARD ALA WTRWKS & SWR BRD                                             | PRICHARD AL WTRWKS 4% 11/01/30 | CUSIP: 741530HR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1105000 | PA      | $642685.02    | 0.03%             | 2030-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARINA CALIF REDEV AGY SUCCESSOR AGY                                      | MARINA CA REDEV AG 5% 09/01/33 | CUSIP: 568061BA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $106900.73    | 0.01%             | 2033-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS BAY TRANSN AUTH MASS                                        | MASSACHUSETTS S 5.25% 07/01/30 | CUSIP: 575579FJ1<br>LEI: 549300D2U0XBUXGX8P68 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2335041.20   | 0.12%             | 2030-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS BAY TRANSN AUTH MASS                                        | MASSACHUSETTS ST B 5% 07/01/45 | CUSIP: 575579YW1<br>LEI: 549300D2U0XBUXGX8P68 | Long             | DBT              | MUN               | US        |   2155000 | PA      | $2239844.07   | 0.12%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY                                              | MASSACHUSETTS ST D 5% 11/15/28 | CUSIP: 57584YMF3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    250000 | PA      | $266612.35    | 0.01%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CSCDA CMNTY IMPT AUTH CALIF                                               | CSCDA CMNTY IMPT A 4% 07/01/56 | CUSIP: 126292AU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $813414.80    | 0.04%             | 2056-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST PORT AUTH                                                | MASSACHUSETTS ST P 5% 07/01/32 | CUSIP: 575896TE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3920000 | PA      | $4342302.78   | 0.22%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST AIR QUALITY DEV AUTH                                              | OHIO ST AIR QUALI V/R 11/01/39 | CUSIP: 677525WV5<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1024981.30   | 0.05%             | 2039-11-01      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING AUTH                                         | CALIFORNIA CMNTY  V/R 02/01/52 | CUSIP: 13013JAP1<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2028642.80   | 0.10%             | 2052-02-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CNTY CALIF TOB SECURITIZATION AGY                              | CALIFORNIA CNTY CA 5% 06/01/32 | CUSIP: 13016NGP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $220239.20    | 0.01%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST AIR QUALITY DEV AUTH                                              | OHIO ST AIR QUALIT 5% 07/01/49 | CUSIP: 67754AAF1<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   5750000 | PA      | $5254739.28   | 0.27%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST                                                                   | OHIO ST HOSP REVEN 5% 01/15/33 | CUSIP: 67756CDX3<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |    150000 | PA      | $166767.03    | 0.01%             | 2033-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH                                                     | ARIZONA ST INDL DE 5% 07/01/37 | CUSIP: 04052BEX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1030000 | PA      | $1032379.51   | 0.05%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CNTY CALIF TOB SECURITIZATION AGY                              | CALIFORNIA CNTY CA 5% 06/01/33 | CUSIP: 13016NGQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $252449.47    | 0.01%             | 2033-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CNTY CALIF TOB SECURITIZATION AGY                              | CALIFORNIA CNTY CA 4% 06/01/34 | CUSIP: 13016NGR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $153747.48    | 0.01%             | 2034-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH                                                     | ARIZONA ST INDL DE 5% 07/15/39 | CUSIP: 04052BHY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $171471.25    | 0.01%             | 2039-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH                                                     | ARIZONA ST INDL DE 5% 07/01/49 | CUSIP: 04052BKL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $953469.60    | 0.05%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA                                                                | ATLANTA GA ARPT PA 4% 07/01/37 | CUSIP: 04780TDL5<br>LEI: 549300GHLQ0J51NUBM84 | Long             | DBT              | MUN               | US        |   8980000 | PA      | $9040667.98   | 0.47%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA                                                                | ATLANTA GA TAX ALL 5% 01/01/30 | CUSIP: 047849EE0<br>LEI: 549300GHLQ0J51NUBM84 | Long             | DBT              | MUN               | US        |    650000 | PA      | $700086.40    | 0.04%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CNTY CALIF TOB SECURITIZATION AGY                              | CALIFORNIA CNTY CA 4% 06/01/36 | CUSIP: 13016NGT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250991.35    | 0.01%             | 2036-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HEALTH FACS FING AUTH                                          | CALIFORNIA ST HLTH 5% 11/15/33 | CUSIP: 13032UDP0<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |    400000 | PA      | $434202.76    | 0.02%             | 2033-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST                                                                   | OHIO ST HOSP REVEN 4% 01/15/38 | CUSIP: 67756CEC8<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |    500000 | PA      | $499078.25    | 0.03%             | 2038-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST                                                                   | OHIO ST HOSP REVEN 4% 01/15/40 | CUSIP: 67756CFU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2455000 | PA      | $2429071.76   | 0.13%             | 2040-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH                                                     | ARIZONA ST INDL DE 4% 07/15/30 | CUSIP: 04052BLQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    595000 | PA      | $575229.88    | 0.03%             | 2030-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH                                                     | ARIZONA ST INDL DE 4% 07/15/40 | CUSIP: 04052BLR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    925000 | PA      | $808311.99    | 0.04%             | 2040-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALABAMA CMNTY COLLEGE SYS BRD TRUSTEES                                    | ALABAMA CMNTY CLG  4% 01/01/35 | CUSIP: 01025PDU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $237644.39    | 0.01%             | 2035-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALABAMA ST PORT AUTH                                                      | ALABAMA ST PORT AU 5% 10/01/25 | CUSIP: 010604BX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $526141.90    | 0.03%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH                                                   | CALIFORNIA ST MUNI 4% 02/01/41 | CUSIP: 13048VZG6<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $985166.70    | 0.05%             | 2041-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE N C                                                             | CHARLOTTE NC ARPT  5% 07/01/29 | CUSIP: 161036QL5<br>LEI: 5493001QNY6JJFWHQ568 | Long             | DBT              | MUN               | US        |    890000 | PA      | $1001539.25   | 0.05%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HEALTH FACS FING AUTH                                          | CALIFORNIA ST HLTH 5% 11/15/33 | CUSIP: 13032URG5<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |    600000 | PA      | $660915.84    | 0.03%             | 2033-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HEALTH FACS FING AUTH                                          | CALIFORNIA ST HLTH 4% 03/01/33 | CUSIP: 13033LS65<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |    480000 | PA      | $480283.58    | 0.02%             | 2033-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHATTANOOGA TENN HEALTH EDL & HSG FAC BRD                                 | CHATTANOOGA TN HLT 5% 08/01/34 | CUSIP: 162410EF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $272804.80    | 0.01%             | 2034-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLIFTON TEX HIGHER ED FIN CORP                                            | CLIFTON TX HGR EDU 4% 12/01/25 | CUSIP: 187145DD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    645000 | PA      | $646206.80    | 0.03%             | 2025-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TAMPA FLA                                                                 | TAMPA FL HOSP REVE 4% 07/01/38 | CUSIP: 875161CZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $405727.04    | 0.02%             | 2038-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TAMPA FLA                                                                 | TAMPA FL HOSP REVE 4% 07/01/39 | CUSIP: 875161DA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $303485.70    | 0.02%             | 2039-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALABAMA ST PORT AUTH                                                      | ALABAMA ST PORT AU 5% 10/01/29 | CUSIP: 010604CB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2380000 | PA      | $2564903.63   | 0.13%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALACHUA CNTY FLA HEALTH FACS AUTH                                         | ALACHUA CNTY FL HL 5% 12/01/37 | CUSIP: 010685LC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2945000 | PA      | $3123687.29   | 0.16%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH                                                   | CALIFORNIA ST  5.375% 07/01/34 | CUSIP: 130486AM5<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    445000 | PA      | $448135.29    | 0.02%             | 2034-07-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH                                                   | CALIFORNIA ST MUNI 4% 07/01/26 | CUSIP: 13048DBM9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    500000 | PA      | $490605.05    | 0.03%             | 2026-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST HIGHER EDL FAC COMMN                                              | OHIO ST HGR EDUCTN 5% 11/01/38 | CUSIP: 67756DSX5<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1101955.40   | 0.06%             | 2038-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TARRANT CNTY TEX CULTURAL ED FACS FIN CORP                                | TARRANT CNTY TX CU 5% 11/15/45 | CUSIP: 87638QPP8<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   2690000 | PA      | $2804846.59   | 0.14%             | 2045-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COCO PALMS CMNTY DEV DIST FLA                                             | COCO PALMS FL CD 4.5% 05/01/32 | CUSIP: 191653AB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1996197.40   | 0.10%             | 2032-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| COLONIAL PA SCH DIST                                                      | COLONIAL PA SCH DI 5% 02/15/36 | CUSIP: 195864QT3<br>LEI: 549300JW2ZL0JCXB3113 | Long             | DBT              | MUN               | US        |    500000 | PA      | $522216.65    | 0.03%             | 2036-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TAMPA FLA                                                                 | TAMPA FL REVENUE 5% 04/01/34   | CUSIP: 875231LM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $255574.00    | 0.01%             | 2034-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENNESSEE ENERGY ACQUISITION CORP                                         | TENNESSEE ENERGY  V/R 05/01/52 | CUSIP: 88044TAL3<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4292188.40   | 0.22%             | 2052-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| ALASKA INDL DEV & EXPT AUTH                                               | ALASKA ST INDL DEV 4% 01/01/28 | CUSIP: 011908EB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1880000 | PA      | $1897475.54   | 0.10%             | 2028-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EAST BATON ROUGE PARISH LA CAP IMPTS DIST                                 | EAST BATON ROUGE P 4% 08/01/38 | CUSIP: 270773AU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2530000 | PA      | $2572545.24   | 0.13%             | 2038-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TARRANT CNTY TEX CULTURAL ED FACS FIN CORP                                | TARRANT CNTY TX CU 4% 12/01/35 | CUSIP: 87638QQM4<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |    750000 | PA      | $773740.20    | 0.04%             | 2035-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TARRANT CNTY TEX CULTURAL ED FACS FIN CORP                                | TARRANT CNTY TX C V/R 11/15/52 | CUSIP: 87638QSG5<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |    750000 | PA      | $857254.05    | 0.04%             | 2052-11-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH                                                   | CALIFORNIA ST MUNI 5% 07/01/34 | CUSIP: 13048T4H3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    500000 | PA      | $531655.15    | 0.03%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH                                                   | CALIFORNIA ST MUNI 4% 10/01/34 | CUSIP: 13048VKU1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    600000 | PA      | $612598.20    | 0.03%             | 2034-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLONIAL PA SCH DIST                                                      | COLONIAL PA SCH DI 5% 02/15/34 | CUSIP: 195864RN5<br>LEI: 549300JW2ZL0JCXB3113 | Long             | DBT              | MUN               | US        |    300000 | PA      | $317943.60    | 0.02%             | 2034-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                                         | COLORADO ST EDUCTN 4% 03/01/35 | CUSIP: 19645R5Y3<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   1020000 | PA      | $1048276.64   | 0.05%             | 2035-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH                                                         | ILLINOIS ST FIN AU 5% 10/01/34 | CUSIP: 452017AK2<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    850000 | PA      | $937656.51    | 0.05%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH                                                         | ILLINOIS ST FIN AU 5% 10/01/35 | CUSIP: 452017AL0<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    970000 | PA      | $1057227.25   | 0.05%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TERN BAY CMNTY DEV DIST FLA                                               | TERN BAY CDD F 3.125% 06/15/27 | CUSIP: 88088EAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $949911.70    | 0.05%             | 2027-06-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| TERN BAY CMNTY DEV DIST FLA                                               | TERN BAY CDD FL SP 4% 06/15/42 | CUSIP: 88088EAC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1070868.63   | 0.06%             | 2042-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TARRANT CNTY TEX CULTURAL ED FACS FIN CORP                                | TARRANT CNTY TX CU 5% 07/01/43 | CUSIP: 87638TGP2<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   4080000 | PA      | $4257136.46   | 0.22%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEMPE ARIZ INDL DEV AUTH                                                  | TEMPE AZ INDL DEV  4% 12/01/38 | CUSIP: 87972MBR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $842744.20    | 0.04%             | 2038-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH                                                   | CALIFORNIA ST MUNI 4% 10/01/36 | CUSIP: 13048VKW7<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011065.10   | 0.05%             | 2036-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH                                                   | CALIFORNIA ST MUNI 4% 10/01/39 | CUSIP: 13048VKZ0<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   2130000 | PA      | $2141589.54   | 0.11%             | 2039-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                                         | COLORADO ST EDUCTN 5% 12/15/35 | CUSIP: 19645RB34<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   2245000 | PA      | $2319225.99   | 0.12%             | 2035-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                                         | COLORADO ST EDUCTN 5% 12/15/45 | CUSIP: 19645RB42<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4081257.60   | 0.21%             | 2045-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH                                                         | ILLINOIS ST FIN AU 5% 10/01/36 | CUSIP: 452017AM8<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    300000 | PA      | $323875.08    | 0.02%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH                                                         | ILLINOIS ST FIN AU 5% 02/15/27 | CUSIP: 45203KAG0<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    500000 | PA      | $522819.45    | 0.03%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS MUN GAS ACQUISITION & SUPPLY CORP I GAS SUPPLY                      | TEXAS ST MUNI G 5.25% 12/15/26 | CUSIP: 88256CAT6<br>LEI: 6AZ7FRSNC3ZFPM0Z8L86 | Long             | DBT              | MUN               | US        |   1635000 | PA      | $1745772.07   | 0.09%             | 2026-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TEXAS MUN GAS ACQUISITION & SUPPLY CORP III GAS SUPPLY                    | TEXAS ST MUNI GAS  5% 12/15/29 | CUSIP: 88256HBE7<br>LEI: 0UDITKOYW0YKG3BBP242 | Long             | DBT              | MUN               | US        |    250000 | PA      | $265848.40    | 0.01%             | 2029-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEMECULA VY CALIF UNI SCH DIST                                            | TEMECULA VLY UNIF  5% 09/01/34 | CUSIP: 87975BAV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $104862.29    | 0.01%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEMESCAL VY CALIF WTR DIST                                                | TEMESCAL VLY CA WT 4% 09/01/23 | CUSIP: 87975CAD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    385000 | PA      | $386524.48    | 0.02%             | 2023-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                                         | COLORADO ST EDUCTN 5% 12/15/28 | CUSIP: 19645RB75<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |    660000 | PA      | $689556.45    | 0.04%             | 2028-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                                         | COLORADO ST EDUCTN 5% 07/01/36 | CUSIP: 19645RY54<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   1920000 | PA      | $1865109.50   | 0.10%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH                                                         | ILLINOIS ST FIN AU 5% 02/15/31 | CUSIP: 45203KAL9<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |     95000 | PA      | $98943.89     | 0.01%             | 2031-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH                                                         | ILLINOIS ST FIN AU 5% 02/15/32 | CUSIP: 45203KAM7<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    465000 | PA      | $483130.77    | 0.02%             | 2032-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH                                                   | CALIFORNIA ST MUNI 5% 10/01/44 | CUSIP: 13048VLB2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   3420000 | PA      | $3568450.91   | 0.18%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH                                                   | CALIFORNIA ST MUNI 4% 02/01/40 | CUSIP: 13048VZF8<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $989435.60    | 0.05%             | 2040-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TENNESSEE ENERGY ACQUISITION CORP                                         | TENNESSEE ST ENER V/R 05/01/48 | CUSIP: 880443HZ2<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |   5435000 | PA      | $5440812.73   | 0.28%             | 2048-05-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| TENNESSEE ST SCH BD AUTH                                                  | TENNESSEE ST SCH B 5% 11/01/45 | CUSIP: 880558HV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5347161.00   | 0.28%             | 2045-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS PRIVATE ACTIVITY BD SURFACE TRANSN CORP                             | TEXAS ST PRIV ACTI 5% 06/30/58 | CUSIP: 882667AN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2787484.15   | 0.14%             | 2058-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP N J                                          | TOBACCO SETTLEMENT 5% 06/01/46 | CUSIP: 888808HT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1010000 | PA      | $1020266.85   | 0.05%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH                                                         | ILLINOIS ST FIN AU 5% 11/01/24 | CUSIP: 45204EAT5<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |     35000 | PA      | $35864.18     | 0.00%             | 2024-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH                                                         | ILLINOIS ST FIN AU 5% 12/01/33 | CUSIP: 45204EBT4<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    845000 | PA      | $887340.16    | 0.05%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH                                                   | CALIFORNIA ST M 5.25% 11/01/35 | CUSIP: 130493CJ6<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1139844.30   | 0.06%             | 2035-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA POLLUTION CTL FING AUTH                                        | CALIFORNIA ST POLL 5% 07/01/37 | CUSIP: 13054WAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5990000 | PA      | $6006600.09   | 0.31%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS TRANSN COMMN ST HWY FD                                              | TEXAS ST TRANSPRTN 5% 08/15/37 | CUSIP: 88283KAL2<br>LEI: 5493006JSGNPGVJS7691 | Long             | DBT              | MUN               | US        |    865000 | PA      | $888443.66    | 0.05%             | 2037-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRAILS AT CROWFOOT MET DIST NO 3 COLO                                     | TRAILS AT CROWFOOT 5% 12/01/39 | CUSIP: 89286RAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $487197.40    | 0.03%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                                         | COLORADO EDUCTNL & 5% 06/01/49 | CUSIP: 19645UAR5<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |    400000 | PA      | $404059.36    | 0.02%             | 2049-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH                                                 | COLORADO ST HLTH F 5% 01/01/31 | CUSIP: 19648FAY0<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1245000 | PA      | $1207757.57   | 0.06%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON D C MET AREA TRAN AUTH                                         | WASHINGTON DC MET  5% 07/01/29 | CUSIP: 938782ER6<br>LEI: 549300ADKOK76HQMJS30 | Long             | DBT              | MUN               | US        |    885000 | PA      | $976203.68    | 0.05%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON D C MET AREA TRAN AUTH                                         | WASHINGTON DC MET  5% 07/01/33 | CUSIP: 938782GH6<br>LEI: 549300ADKOK76HQMJS30 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1092885.60   | 0.06%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH                                                     | ARIZONA ST INDL DE 4% 07/15/30 | CUSIP: 04052BMA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $474873.95    | 0.02%             | 2030-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH                                                     | ARIZONA ST INDL DE 4% 12/15/51 | CUSIP: 04052BMT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $627332.72    | 0.03%             | 2051-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                               | ILLINOIS ST 5% 11/01/24        | CUSIP: 452152P88<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1005000 | PA      | $1041010.96   | 0.05%             | 2024-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                               | ILLINOIS ST 5% 11/01/26        | CUSIP: 452152Q61<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    325000 | PA      | $346686.67    | 0.02%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA SCH FIN AUTH                                                   | CALIFORNIA ST SCH  5% 06/01/40 | CUSIP: 13058TJC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2003718.40   | 0.10%             | 2040-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL PUGET SOUND WASH REGL TRAN AUTH                                   | CENTRL PUGET SOUND 5% 11/01/35 | CUSIP: 15504RGE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1343703.25   | 0.07%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRANSPORT MET DIST NO 3 COLO                                              | TRANSPORT MET DIST 5% 12/01/51 | CUSIP: 89386FAC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1210000 | PA      | $993705.36    | 0.05%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY MICH                                                           | UNIV OF MICHIGAN M 3% 04/01/28 | CUSIP: 914455MT4<br>LEI: 549300MFOB21PM9P9H72 | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4503757.05   | 0.23%             | 2028-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST                                                             | WASHINGTON ST 5.5% 08/01/29    | CUSIP: 93974DBA5<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3048487.80   | 0.16%             | 2029-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST                                                             | WASHINGTON ST 5% 07/01/32      | CUSIP: 93974DKK3<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2623066.00   | 0.14%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH                                                       | INDIANA ST FIN AU V/R 05/01/35 | CUSIP: 455054BG0<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1547091.60   | 0.08%             | 2035-05-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| PORT PORTLAND ORE                                                         | PORT OF PORTLAND O 5% 07/01/29 | CUSIP: 735240P49<br>LEI: 549300BRH7XZ3ZK0DS46 | Long             | DBT              | MUN               | US        |   1890000 | PA      | $2116279.68   | 0.11%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH                                                 | COLORADO ST HLTH F 5% 05/15/25 | CUSIP: 19648FBN3<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    300000 | PA      | $302102.04    | 0.02%             | 2025-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH                                                 | COLORADO ST HLTH F 5% 05/15/26 | CUSIP: 19648FBP8<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    350000 | PA      | $352926.04    | 0.02%             | 2026-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH                                                     | ARIZONA ST INDL DE 4% 07/15/51 | CUSIP: 04052BPS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $390356.70    | 0.02%             | 2051-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH                                                     | ARIZONA ST INDL DE 4% 07/15/56 | CUSIP: 04052BPT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    950000 | PA      | $722491.34    | 0.04%             | 2056-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UPPER DARBY PA SCH DIST                                                   | UPPER DARBY PA SCH 4% 04/01/31 | CUSIP: 915633LE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    390000 | PA      | $421066.62    | 0.02%             | 2031-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UPPER DARBY PA SCH DIST                                                   | UPPER DARBY PA SCH 4% 04/01/34 | CUSIP: 915633LH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $267818.25    | 0.01%             | 2034-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE-MECKLENBERG HOSP AUTH N C                                       | CHARLOTTE-MECKLENB 5% 01/15/34 | CUSIP: 160853SR9<br>LEI: 549300XOH4JU704GMZ32 | Long             | DBT              | MUN               | US        |    575000 | PA      | $609060.70    | 0.03%             | 2034-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUB FACS AUTH                                                   | LOUISIANA PUB FACS 5% 05/15/36 | CUSIP: 546399CK0<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1059188.20   | 0.05%             | 2036-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST                                                             | WASHINGTON ST 5% 02/01/36      | CUSIP: 93974DLC0<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4174824.00   | 0.22%             | 2036-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST                                                             | WASHINGTON ST 5% 08/01/45      | CUSIP: 93974EXW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4526577.20   | 0.23%             | 2045-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT PORTLAND ORE                                                         | PORT OF PORTLAND O 5% 07/01/38 | CUSIP: 735240Q55<br>LEI: 549300BRH7XZ3ZK0DS46 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1072035.30   | 0.06%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT SEATTLE WASH                                                         | PORT OF SEATTLE WA 5% 08/01/33 | CUSIP: 735389P93<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   2445000 | PA      | $2761406.47   | 0.14%             | 2033-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UPPER DARBY PA SCH DIST                                                   | UPPER DARBY PA SCH 4% 04/01/35 | CUSIP: 915633LJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $317135.16    | 0.02%             | 2035-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHARTER SCH FIN AUTH                                              | UTAH ST CHRT SCH F 5% 04/15/37 | CUSIP: 91754TUM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $336774.46    | 0.02%             | 2037-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH                                                 | COLORADO ST HLT 5.25% 11/01/32 | CUSIP: 19648FCH5<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    625000 | PA      | $306250.00    | 0.02%             | 2032-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH                                                 | COLORADO ST HLTH F 4% 11/15/38 | CUSIP: 19648FJC9<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3023588.70   | 0.16%             | 2038-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING AUTH                                         | CALIFORNIA CMNTY  V/R 05/01/53 | CUSIP: 13013JBJ4<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4571425.35   | 0.24%             | 2053-05-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CNTY CALIF TOB SECURITIZATION AGY                              | CALIFORNIA CNTY CA 5% 06/01/32 | CUSIP: 13016NEQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $492985.31    | 0.03%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST CONVENTION CTR PUB FACS DIST                                | WASHINGTON ST CONV 4% 07/01/58 | CUSIP: 93976ACG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1760000 | PA      | $1419884.58   | 0.07%             | 2058-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST CONVENTION CTR PUB FACS DIST                                | WASHINGTON ST CONV 4% 07/01/58 | CUSIP: 93976AEL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3240000 | PA      | $2613878.42   | 0.13%             | 2058-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA                                                           | PHILADELPHIA PA GA 5% 08/01/25 | CUSIP: 7178237H5<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |    290000 | PA      | $306261.11    | 0.02%             | 2025-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS CHARTER SCH                                           | PUBLIC FIN AUT 5.125% 07/15/37 | CUSIP: 744396CU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1254646.13   | 0.06%             | 2037-07-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHARTER SCH FIN AUTH                                              | UTAH ST CHRT SCH F 5% 06/15/49 | CUSIP: 91754TYM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1590000 | PA      | $1463344.10   | 0.08%             | 2049-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH TRANSIT AUTH                                                         | UTAH ST TRANSIT AU 5% 06/15/35 | CUSIP: 917567BW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1145000 | PA      | $1220103.53   | 0.06%             | 2035-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH                                                 | COLORADO ST HLTH F 4% 08/01/39 | CUSIP: 19648FJZ8<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   4630000 | PA      | $4575891.04   | 0.24%             | 2039-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLORADO SPRINGS COLO                                                     | COLORADO SPRINGS C 5% 12/01/25 | CUSIP: 196624AF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    495000 | PA      | $526884.34    | 0.03%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT SEATTLE WASH                                                         | PORT OF SEATTLE WA 5% 08/01/39 | CUSIP: 735389Q76<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5414054.00   | 0.28%             | 2039-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT SEATTLE WASH                                                         | PORT OF SEATTLE WA 5% 08/01/46 | CUSIP: 735389R26<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   1725000 | PA      | $1824238.04   | 0.09%             | 2046-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CNTY CALIF TOB SECURITIZATION AGY                              | CALIFORNIA CNTY CA 5% 06/01/31 | CUSIP: 13016NGN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $248417.48    | 0.01%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH                                                   | CALIFORNIA ST MUNI 4% 10/01/33 | CUSIP: 13048VKT4<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1277537.75   | 0.07%             | 2033-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH TRANSIT AUTH                                                         | UTAH ST TRANSIT AU 5% 12/15/40 | CUSIP: 917567DX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4875000 | PA      | $5320463.36   | 0.27%             | 2040-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH TELECOMMUNICATION OPEN INFRASTRUCTURE                                | UTAH ST TELECOM 5.25% 06/01/33 | CUSIP: 91756SAL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $900930.98    | 0.05%             | 2033-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COLORADO SPRINGS COLO                                                     | COLORADO SPRING 5.25% 12/01/48 | CUSIP: 196624AS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1585000 | PA      | $1738131.45   | 0.09%             | 2048-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HAMILTON CNTY OHIO                                                        | HAMILTON CNTY OH H 5% 08/15/31 | CUSIP: 407272Y64<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    310000 | PA      | $354557.60    | 0.02%             | 2031-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRICHARD ALA WTRWKS & SWR BRD                                             | PRICHARD AL WTRWKS 4% 11/01/33 | CUSIP: 741530HU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1395000 | PA      | $761304.09    | 0.04%             | 2033-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PRICHARD ALA WTRWKS & SWR BRD                                             | PRICHARD AL WTRWKS 4% 11/01/34 | CUSIP: 741530HV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1765000 | PA      | $945200.04    | 0.05%             | 2034-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH                                                   | CALIFORNIA ST MUNI 4% 10/01/35 | CUSIP: 13048VKV9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1015438.60   | 0.05%             | 2035-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CLIFTON TEX HIGHER ED FIN CORP                                            | CLIFTON TX HGR EDU 5% 08/15/32 | CUSIP: 187145BH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500890.45    | 0.03%             | 2032-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTICA MICH CMNTY SCHS                                                     | UTICA MI CMNTY SCH 5% 05/01/31 | CUSIP: 917661Q37<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1990000 | PA      | $2154667.92   | 0.11%             | 2031-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTILITY DEBT SECURITIZATION AUTH N Y                                      | UTILITY DEBT SECUR 5% 12/15/39 | CUSIP: 91802RFN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2165000 | PA      | $2536860.40   | 0.13%             | 2039-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| POLK CNTY FLA INDL DEV AUTH                                               | POLK CNTY FL I 5.875% 01/01/33 | CUSIP: 731120NQ0<br>LEI: 549300UTRO4TAORRAL04 | Long             | DBT              | MUN               | US        |   6500000 | PA      | $6629254.45   | 0.34%             | 2033-01-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PORT AUTH N Y & N J                                                       | PORT AUTH OF NEW Y 5% 10/15/35 | CUSIP: 73358WVC5<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |    465000 | PA      | $475319.33    | 0.02%             | 2035-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRICHARD ALA WTRWKS & SWR BRD                                             | PRICHARD AL WTRWKS 4% 11/01/35 | CUSIP: 741530HW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1840000 | PA      | $966644.92    | 0.05%             | 2035-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CNTY CALIF REGL TRANSN COMMN                                    | SAN DIEGO CNTY CA  5% 04/01/35 | CUSIP: 797400KU1<br>LEI: W4FR340A6EQ2SSI17B56 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1351234.13   | 0.07%             | 2035-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HIGHER ED FACS AUTH                                         | WASHINGTON ST HGR  4% 05/01/45 | CUSIP: 9397813X6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $512952.09    | 0.03%             | 2045-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WEST CORNWALL TWP PA MUN AUTH                                             | W CORNWALL TWP PA  4% 11/15/28 | CUSIP: 95235TAM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $101981.20    | 0.01%             | 2028-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH                                                 | COLORADO ST HLTH F 5% 08/01/35 | CUSIP: 19648FJV7<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    250000 | PA      | $270013.35    | 0.01%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH                                                 | COLORADO ST HLTH F 5% 08/01/34 | CUSIP: 19648FKL7<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1636828.80   | 0.08%             | 2034-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CNTY CALIF                                                      | SAN DIEGO CNTY CA  5% 11/01/25 | CUSIP: 79742YAK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    645000 | PA      | $691029.72    | 0.04%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN                               | SAN FRANCISCO CALI 5% 05/01/39 | CUSIP: 79766DLZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1070242.90   | 0.06%             | 2039-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRIVATE COLLEGES & UNIVS AUTH GA                                          | PRIV CLGS & UNIVS  5% 04/01/33 | CUSIP: 74265LD21<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1209333.15   | 0.06%             | 2033-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRIVATE COLLEGES & UNIVS AUTH GA                                          | PRIV CLGS & UNIVS  5% 04/01/44 | CUSIP: 74265LD47<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $514609.85    | 0.03%             | 2044-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH                                       | WISCONSIN ST HLTH  5% 08/15/33 | CUSIP: 97712DKN5<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    175000 | PA      | $179954.83    | 0.01%             | 2033-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH                                       | WISCONSIN ST HLTH  5% 11/15/36 | CUSIP: 97712DQY5<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   3650000 | PA      | $3812085.55   | 0.20%             | 2036-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH                                                       | INDIANA FIN AUT 5.25% 07/01/28 | CUSIP: 45506DL78<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    700000 | PA      | $710167.01    | 0.04%             | 2028-07-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH                                                       | INDIANA ST FIN 5.875% 07/01/38 | CUSIP: 45506DL94<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1014962.70   | 0.05%             | 2038-07-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| INFIRMARY HEALTH SYS SPL CARE FACS FING AUTH MOBILE ALA                   | INFIRMARY HLTH SYS 5% 02/01/36 | CUSIP: 45663NBU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $466019.01    | 0.02%             | 2036-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INTERMOUNTAIN PWR AGY UTAH                                                | INTERMOUNTAIN PWR  5% 07/01/42 | CUSIP: 45884AB77<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4494624.40   | 0.23%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA FIN AUTH                                                             | IOWA ST FIN AUTH  V/R 12/01/50 | CUSIP: 46246SAV7<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2045091.60   | 0.11%             | 2050-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| IRVINE CALIF UNI SCH DIST                                                 | IRVINE CA UNIF SCH 5% 09/01/31 | CUSIP: 463612MP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $191958.71    | 0.01%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AKRON BATH COPLEY OHIO JT TWP HOSP DIST                                   | AKRON BATH COPLEY  4% 11/15/35 | CUSIP: 009730PS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $736874.70    | 0.04%             | 2035-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH                                                 | COLORADO ST HLTH F 5% 08/01/44 | CUSIP: 19648FKS2<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   3025000 | PA      | $3150841.51   | 0.16%             | 2044-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH                                                 | COLORADO ST HLTH F 4% 09/01/50 | CUSIP: 19648FPY4<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1518292.13   | 0.08%             | 2050-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JACKSON CNTY MO CONS SCH DIST NO 4                                        | JACKSON CNTY MO CO 5% 03/01/35 | CUSIP: 467484RW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2166549.60   | 0.11%             | 2035-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JACKSON CNTY MO                                                           | JACKSON CNTY MO SP 5% 12/01/31 | CUSIP: 467578HU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $726373.55    | 0.04%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH                                                     | ARIZONA ST INDL DE 4% 11/01/39 | CUSIP: 04052FBS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $733089.45    | 0.04%             | 2039-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH                                                     | ARIZONA ST INDL DE 4% 11/01/46 | CUSIP: 04052FCS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3800000 | PA      | $3509412.86   | 0.18%             | 2046-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST BLDG EXCELLENT SCHS TODAY                                     | COLORADO ST BLDG E 5% 03/15/31 | CUSIP: 19668QLS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $800567.74    | 0.04%             | 2031-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST                                                               | COLORADO ST COPS 4% 12/15/37   | CUSIP: 196711SH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1125085.98   | 0.06%             | 2037-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JACKSONVILLE FLA                                                          | JACKSONVILLE FL HL 5% 08/15/35 | CUSIP: 469400CK9<br>LEI: 549300XQE0JVN9WV0J40 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1085817.70   | 0.06%             | 2035-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CTR MET DIST NO 1 COLO                                          | JEFFERSON CENT 4.375% 12/01/47 | CUSIP: 47248EAB8<br>LEI: 549300S1EAFO90X8HQ88 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $833065.40    | 0.04%             | 2047-12-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ARKANSAS DEV FIN AUTH                                                     | ARKANSAS DEV FIN A 4% 12/01/44 | CUSIP: 04084RBF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    610000 | PA      | $605558.83    | 0.03%             | 2044-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TEX HIGHER ED FIN CORP                                          | ARLINGTON TX HGR E 5% 08/15/33 | CUSIP: 041806XX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $478846.92    | 0.02%             | 2033-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KANSAS MUN ENERGY AGY                                                     | KANSAS MUNI ENERGY 5% 04/01/29 | CUSIP: 48526CBF3<br>LEI: 549300G77TEGJUQPZW28 | Long             | DBT              | MUN               | US        |   1240000 | PA      | $1339227.65   | 0.07%             | 2029-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY BD DEV CORP                                                      | KENTUCKY BOND DEV  5% 09/01/49 | CUSIP: 491211BR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3812152.05   | 0.20%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST                                                               | COLORADO ST COPS 4% 06/15/37   | CUSIP: 196711SL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $336839.26    | 0.02%             | 2037-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLUMBIA ALA INDL DEV BRD                                                 | COLUMBIA AL INDL  V/R 12/01/37 | CUSIP: 197210AZ0<br>LEI: 549300SEHVC4E4YS3921 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5000000.00   | 0.26%             | 2037-12-01      | Variable      | 1.35%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH                                                         | ILLINOIS ST FIN AU 5% 10/01/33 | CUSIP: 452017AJ5<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    325000 | PA      | $360772.13    | 0.02%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                               | ILLINOIS ST 5% 12/01/26        | CUSIP: 452152S51<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1601688.15   | 0.08%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ECONOMIC DEV FIN AUTH                                            | KENTUCKY ST ECON D 5% 08/15/28 | CUSIP: 49126KKN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $158328.92    | 0.01%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ECONOMIC DEV FIN AUTH                                            | KENTUCKY ST ECON D 5% 08/15/36 | CUSIP: 49126KKZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $291189.61    | 0.02%             | 2036-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH FING AUTH PA.                                                | CMWLTH FING AUTH P 5% 06/01/25 | CUSIP: 20282EAF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1051001.00   | 0.05%             | 2025-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH FING AUTH PA.                                                | CMWLTH FING AUTH P 5% 06/01/26 | CUSIP: 20282EAG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    410000 | PA      | $440421.14    | 0.02%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                               | ILLINOIS ST 5% 05/01/24        | CUSIP: 452152XT3<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    240000 | PA      | $246304.15    | 0.01%             | 2024-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                               | ILLINOIS ST 5.5% 03/01/42      | CUSIP: 452153DA4<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2721993.50   | 0.14%             | 2042-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ECONOMIC DEV FIN AUTH                                            | KENTUCKY ST ECON D 5% 08/01/36 | CUSIP: 49126PGS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    895000 | PA      | $957471.72    | 0.05%             | 2036-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH                                                         | MICHIGAN ST FIN AU 4% 12/01/40 | CUSIP: 59447TW41<br>LEI: TWSRHFGEDJDX0GKMGJ67 | Long             | DBT              | MUN               | US        |    375000 | PA      | $416422.84    | 0.02%             | 2040-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONESTOGA VALLEY SCH DIST PA                                              | CONESTOGA VLY PA S 4% 02/01/31 | CUSIP: 207098KF0<br>LEI: 549300OMSFCX7BZC4Y71 | Long             | DBT              | MUN               | US        |    270000 | PA      | $289336.43    | 0.01%             | 2031-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONESTOGA VALLEY SCH DIST PA                                              | CONESTOGA VLY PA S 4% 02/01/32 | CUSIP: 207098KG8<br>LEI: 549300OMSFCX7BZC4Y71 | Long             | DBT              | MUN               | US        |    300000 | PA      | $320100.00    | 0.02%             | 2032-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                               | ILLINOIS ST SALES  5% 06/15/29 | CUSIP: 452227SD4<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    100000 | PA      | $108374.96    | 0.01%             | 2029-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                               | ILLINOIS ST SALES  3% 06/15/34 | CUSIP: 452227TW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2405000 | PA      | $2308067.20   | 0.12%             | 2034-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH                                                         | MICHIGAN ST FIN AU 5% 12/01/39 | CUSIP: 59447TYC1<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |   2155000 | PA      | $2343206.06   | 0.12%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HOSP FIN AUTH                                                 | MICHIGAN ST HOSP F 5% 11/15/47 | CUSIP: 59465HTY2<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |    565000 | PA      | $582911.91    | 0.03%             | 2047-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST                                                            | CONNECTICUT ST 4% 10/15/35     | CUSIP: 20772J4B5<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |    560000 | PA      | $579026.00    | 0.03%             | 2035-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST                                                            | CONNECTICUT ST 5% 04/15/29     | CUSIP: 20772J6Q0<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |   1445000 | PA      | $1601391.19   | 0.08%             | 2029-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IMPERIAL REDEV DIST TEX                                                   | IMPERIAL REDEV D 4.5% 05/01/26 | CUSIP: 45310CDF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $238024.80    | 0.01%             | 2026-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| IMPERIAL REDEV DIST TEX                                                   | IMPERIAL REDEV D 4.5% 05/01/27 | CUSIP: 45310CDG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $241125.03    | 0.01%             | 2027-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MIRABELLE MET DIST NO 2 COLO                                              | MIRABELLE MET DIST 5% 12/01/39 | CUSIP: 60458HAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3260000 | PA      | $3158157.93   | 0.16%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSION TEX                                                               | MISSION TX 5% 02/15/30         | CUSIP: 605128UE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    370000 | PA      | $412591.44    | 0.02%             | 2030-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST                                                            | CONNECTICUT ST 4% 04/15/37     | CUSIP: 20772KGF0<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |   5145000 | PA      | $5323893.19   | 0.27%             | 2037-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH                                                      | PHILADELPHIA PA AU 4% 06/01/41 | CUSIP: 71780CBG4<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $1909534.05   | 0.10%             | 2041-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI HOSP EQUIP & FACS AUTH                                        | MISSISSIPPI ST HOS 5% 09/01/41 | CUSIP: 605360SC1<br>LEI: 549300DW2GVUIGE04396 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5067203.00   | 0.26%             | 2041-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI ST                                                            | MISSISSIPPI ST 5% 11/01/33     | CUSIP: 605581KZ9<br>LEI: 549300JRWW5RFQUB7P94 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2205697.00   | 0.11%             | 2033-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA                                                           | PHILADELPHIA PA 5.25% 07/15/28 | CUSIP: 717813QQ5<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |    750000 | PA      | $770343.60    | 0.04%             | 2028-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA                                                           | PHILADELPHIA PA 5% 08/01/26    | CUSIP: 717813WP0<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |    500000 | PA      | $544001.75    | 0.03%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HEALTH & EDL FACS AUTH                                        | MISSOURI ST HLTH & 4% 02/01/29 | CUSIP: 60635H3K3<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   1960000 | PA      | $1891994.47   | 0.10%             | 2029-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HEALTH & EDL FACS AUTH                                        | MISSOURI ST HLTH & 4% 02/01/32 | CUSIP: 60635H3N7<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |    555000 | PA      | $520160.26    | 0.03%             | 2032-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PROVIDENCE R I PUB BLDG AUTH                                              | PROVIDENCE RI PUBL 5% 06/15/31 | CUSIP: 74381MBQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $169666.28    | 0.01%             | 2031-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PROVIDENCE R I PUB BLDG AUTH                                              | PROVIDENCE RI PUBL 5% 06/15/33 | CUSIP: 74381MBS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $361040.67    | 0.02%             | 2033-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA                                                           | PHILADELPHIA PA 5% 08/01/27    | CUSIP: 717813WQ8<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |    500000 | PA      | $556269.40    | 0.03%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA                                                           | PHILADELPHIA PA 5% 02/01/34    | CUSIP: 717813YE3<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |   3260000 | PA      | $3768245.08   | 0.19%             | 2034-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDEPENDENCE MET DIST NO 3 COLO                                           | INDEPENDENCE ME 6.25% 12/01/49 | CUSIP: 453625AA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $931056.30    | 0.05%             | 2049-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH                                                       | INDIANA FIN AUTH I 4% 11/01/37 | CUSIP: 45471ASX1<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1330000 | PA      | $1338665.48   | 0.07%             | 2037-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HEALTH & EDL FACS AUTH                                        | MISSOURI ST HLTH & 5% 02/01/23 | CUSIP: 60635HR43<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |    160000 | PA      | $160000.00    | 0.01%             | 2023-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HEALTH & EDL FACS AUTH                                        | MISSOURI ST HLTH & 4% 08/01/36 | CUSIP: 60637AUD2<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |    440000 | PA      | $392396.31    | 0.02%             | 2036-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST HIGHER EDL FAC COMMN                                              | OHIO ST HGR EDUCTN 5% 12/01/45 | CUSIP: 67756DXK7<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $956643.30    | 0.05%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT SEATTLE WASH                                                         | PORT OF SEATTLE WA 5% 08/01/37 | CUSIP: 735389V39<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   2315000 | PA      | $2547377.62   | 0.13%             | 2037-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HEALTH & EDL FACS AUTH                                        | MISSOURI ST HLTH & 4% 08/01/41 | CUSIP: 60637AUE0<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |    410000 | PA      | $345075.68    | 0.02%             | 2041-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HEALTH & EDL FACS AUTH                                        | MISSOURI ST HLTH  V/R 10/01/35 | CUSIP: 6069014N3<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   1925000 | PA      | $1925000.00   | 0.10%             | 2035-10-01      | Variable      | 1.25%                 | No            |                  2 | On Loan: No      |
| PORT SEATTLE WASH                                                         | PORT OF SEATTLE WA 5% 08/01/39 | CUSIP: 735389V54<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2188478.80   | 0.11%             | 2039-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRIVATE COLLEGES & UNIVS AUTH GA                                          | PRIV CLGS & UNIVS  5% 10/01/29 | CUSIP: 74265L2G2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $311127.85    | 0.02%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MOBILE ALA IMPT DIST                                                      | MOBILE AL IMPT DIS 5% 08/01/25 | CUSIP: 607155AB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $371710.61    | 0.02%             | 2025-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MOBILE CNTY ALA                                                           | MOBILE CNTY AL 5% 08/01/30     | CUSIP: 6072673N9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $533785.15    | 0.03%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY INC KY PUB ENERGY AUTH                                           | KENTUCKY ST PUBLI V/R 02/01/50 | CUSIP: 74440DCM4<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   6300000 | PA      | $6320352.15   | 0.33%             | 2050-02-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                                       | PUBLIC FIN AUTH WI 4% 06/01/35 | CUSIP: 74442CCV4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1280467.63   | 0.07%             | 2035-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AUSTIN TEX                                                                | AUSTIN TX WTR & WS 5% 11/15/42 | CUSIP: 0524762Z0<br>LEI: IW10PQVTU7HKS3JMW253 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4312521.60   | 0.22%             | 2042-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONROE CNTY N Y INDL DEV CORP                                             | MONROE CNTY NY IND 5% 10/01/23 | CUSIP: 61075TTH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    840000 | PA      | $849698.30    | 0.04%             | 2023-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST URBAN DEV CORP                                                | NEW YORK ST URBAN  5% 03/15/44 | CUSIP: 650036CF1<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |    200000 | PA      | $219480.58    | 0.01%             | 2044-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                                       | PUBLIC FIN AUTH WI 4% 06/01/39 | CUSIP: 74442CCZ5<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1988484.40   | 0.10%             | 2039-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                                       | PUBLIC FIN AUTH WI 4% 07/01/27 | CUSIP: 74442EBZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1285000 | PA      | $1290063.16   | 0.07%             | 2027-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                                       | PUBLIC FIN AUTH WI 5% 07/01/37 | CUSIP: 74442ECA6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1730000 | PA      | $1744968.65   | 0.09%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS PRIVATE ACTIVITY BD SURFACE TRANSN CORP                             | TEXAS ST PRIV ACTI 5% 12/31/34 | CUSIP: 882667AT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5362112.00   | 0.28%             | 2034-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSN DEV CORP                                                  | NEW YORK ST TRANSP 4% 10/01/30 | CUSIP: 650116CX2<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1255597.88   | 0.06%             | 2030-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSN DEV CORP                                                  | NEW YORK ST TRANSP 5% 10/01/35 | CUSIP: 650116CY0<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | MUN               | US        |   2720000 | PA      | $2844064.91   | 0.15%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CALIF CITY & CNTY CMNTY FACS DIST NO 2016-1                 | SAN FRANCISCO CITY 4% 09/01/30 | CUSIP: 79773JAK3<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |    145000 | PA      | $149378.09    | 0.01%             | 2030-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CALIF CITY & CNTY CMNTY FACS DIST NO 2016-1                 | SAN FRANCISCO CITY 4% 09/01/31 | CUSIP: 79773JAL1<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |    335000 | PA      | $344113.98    | 0.02%             | 2031-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TEXAS TRANSN COMMN ST HWY FD                                              | TEXAS ST TRANSPRTN 5% 08/15/39 | CUSIP: 88283KBH0<br>LEI: 5493006JSGNPGVJS7691 | Long             | DBT              | MUN               | US        |   7510000 | PA      | $8209793.07   | 0.42%             | 2039-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UPPER DARBY PA SCH DIST                                                   | UPPER DARBY PA SCH 4% 04/01/36 | CUSIP: 915633LK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $261109.55    | 0.01%             | 2036-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UPPER DARBY PA SCH DIST                                                   | UPPER DARBY PA SCH 4% 04/01/39 | CUSIP: 915633MJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $204074.12    | 0.01%             | 2039-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UPPER DARBY PA SCH DIST                                                   | UPPER DARBY PA SCH 4% 04/01/40 | CUSIP: 915633MK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $305013.09    | 0.02%             | 2040-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CALIF CITY & CNTY CMNTY FACS DIST NO 2016-1                 | SAN FRANCISCO CITY 4% 09/01/32 | CUSIP: 79773JAM9<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |    245000 | PA      | $250968.94    | 0.01%             | 2032-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CALIF CITY & CNTY CMNTY FACS DIST NO 2016-1                 | SAN FRANCISCO CITY 4% 09/01/33 | CUSIP: 79773JAN7<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |    300000 | PA      | $306292.17    | 0.02%             | 2033-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UPPER DARBY PA SCH DIST                                                   | UPPER DARBY PA SCH 4% 04/01/42 | CUSIP: 915633MM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $304240.20    | 0.02%             | 2042-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UPPER DARBY PA SCH DIST                                                   | UPPER DARBY PA SCH 4% 04/01/43 | CUSIP: 915633MN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    245000 | PA      | $247551.06    | 0.01%             | 2043-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CALIF CITY & CNTY CMNTY FACS DIST NO 2016-1                 | SAN FRANCISCO CITY 4% 09/01/42 | CUSIP: 79773JAR8<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |    525000 | PA      | $494047.42    | 0.03%             | 2042-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CALIF CITY & CNTY CMNTY FACS DIST NO 2016-1                 | SAN FRANCISCO CITY 4% 09/01/46 | CUSIP: 79773JBH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $911701.10    | 0.05%             | 2046-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PROVIDENCE R I PUB BLDG AUTH                                              | PROVIDENCE RI PUBL 5% 06/15/35 | CUSIP: 74381MBU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $257258.61    | 0.01%             | 2035-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS CHARTER SCH                                           | PUBLIC FIN AUTH  4.2% 07/15/27 | CUSIP: 744396CT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1240000 | PA      | $1219229.38   | 0.06%             | 2027-07-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| SAN LUIS OBISPO CALIF CMNTY FACS DIST NO 2019-1                           | SAN LUIS OBISPO CA 4% 09/01/36 | CUSIP: 798601AP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $797834.72    | 0.04%             | 2036-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAN LUIS OBISPO CNTY CALIF FING AUTH                                      | SAN LUIS OBISPO 5.25% 11/15/40 | CUSIP: 798712CZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2110000 | PA      | $2412345.07   | 0.12%             | 2040-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UPTOWN DEV AUTH TEX                                                       | UPTOWN DEV AUTH TX 5% 09/01/36 | CUSIP: 916856GM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1560000 | PA      | $1603865.02   | 0.08%             | 2036-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHARTER SCH FIN AUTH                                              | UTAH ST CHRT SCH F 5% 04/15/32 | CUSIP: 91754TUL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $422432.56    | 0.02%             | 2032-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN LUIS OBISPO CNTY CALIF FING AUTH                                      | SAN LUIS OBISPO 5.25% 11/15/41 | CUSIP: 798712DA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1665000 | PA      | $1897557.38   | 0.10%             | 2041-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SCHAUMBURG ILL                                                            | SCHAUMBURG IL 4% 12/01/23      | CUSIP: 806347PH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2740000 | PA      | $2768175.42   | 0.14%             | 2023-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VACAVILLE CALIF UNI SCH DIST                                              | VACAVILLE CA UNIF  4% 08/01/38 | CUSIP: 918608UB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $512728.25    | 0.03%             | 2038-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ECONOMIC DEV AUTH                                           | WEST VIRGINIA ST  V/R 07/01/45 | CUSIP: 95648VBF5<br>LEI: 549300WW88TKKF5H1220 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007026.20   | 0.05%             | 2045-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| SCRANTON PA SCH DIST                                                      | SCRANTON PA SCH DI 4% 12/01/42 | CUSIP: 810827ZE8<br>LEI: 549300SDNGI3OKNOUW62 | Long             | DBT              | MUN               | US        |   1835000 | PA      | $1781830.69   | 0.09%             | 2042-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SEATTLE WASH                                                              | SEATTLE WA DRAIN & 4% 07/01/36 | CUSIP: 812631NY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3104140.50   | 0.16%             | 2036-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS CHARTER SCH                                           | PUBLIC FIN AUTH WI 5% 06/15/54 | CUSIP: 744396FN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1274629.81   | 0.07%             | 2054-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SERENITY RIDGE MET DIST NO 2 COLO                                         | SERENITY RIDGE 5.125% 12/01/37 | CUSIP: 817504AD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $577487.96    | 0.03%             | 2037-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA PUB SVC AUTH                                               | SOUTH CAROLINA S 5.5% 12/01/39 | CUSIP: 837151Q93<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   2375000 | PA      | $2737588.16   | 0.14%             | 2039-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WESTERLY MET DIST NO 4 COLO                                               | WESTERLY MET DIST  5% 12/01/50 | CUSIP: 957568AC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1334053.35   | 0.07%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTERN VA REGL JAIL AUTH VA REGL JAIL FAC                                | WSTRN VA REGL JAIL 5% 12/01/34 | CUSIP: 95984RDQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1185000 | PA      | $1300383.69   | 0.07%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA PUB SVC AUTH                                               | SOUTH CAROLINA S 5.5% 12/01/40 | CUSIP: 837151R27<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2293104.80   | 0.12%             | 2040-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA PUB SVC AUTH                                               | SOUTH CAROLINA S 5.5% 12/01/42 | CUSIP: 837151R43<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   1995000 | PA      | $2263200.62   | 0.12%             | 2042-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WESTERN VA REGL JAIL AUTH VA REGL JAIL FAC                                | WSTRN VA REGL JAIL 5% 12/01/34 | CUSIP: 95984REA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1180000 | PA      | $1276867.38   | 0.07%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTMORELAND CNTY PA MUN AUTH                                             | WESTMORELAND CNTY  5% 08/15/42 | CUSIP: 961017QS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1970000 | PA      | $2045501.83   | 0.11%             | 2042-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA PUB SVC AUTH                                               | SOUTH CAROLINA ST  4% 12/01/35 | CUSIP: 837151WX3<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    355000 | PA      | $359159.82    | 0.02%             | 2035-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TEXAS WATER DEV BRD                                                       | TEXAS ST WTR DEV B 4% 10/15/32 | CUSIP: 882854XS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $263865.15    | 0.01%             | 2032-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WESTSIDE CMNTY DEV DIST FLA                                               | WESTSIDE FL CDD  4.1% 05/01/37 | CUSIP: 96149TAQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    835000 | PA      | $764185.99    | 0.04%             | 2037-05-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| WHITING IND                                                               | WHITING IN ENVRNM V/R 12/01/44 | CUSIP: 96634RAU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1554006.90   | 0.08%             | 2044-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS WATER DEV BRD                                                       | TEXAS WTR DEV BRD  5% 10/15/34 | CUSIP: 88285AAY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2175000 | PA      | $2640786.04   | 0.14%             | 2034-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WILDBLUE CMNTY DEV DIST FLA                                               | WILDBLUE CDD FL  3.5% 06/15/24 | CUSIP: 96809YAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $207779.08    | 0.01%             | 2024-06-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST                                                              | WISCONSIN ST 4% 11/01/34       | CUSIP: 97705MKW4<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2092466.00   | 0.11%             | 2034-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST                                                              | WISCONSIN ST GEN F 5% 05/01/34 | CUSIP: 977100FB7<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1413951.76   | 0.07%             | 2034-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH                                       | WISCONSIN ST HLTH  5% 07/01/44 | CUSIP: 97712D2B1<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    700000 | PA      | $717159.87    | 0.04%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY VALLEY PA JT SEW AUTH                                           | ALLEGHENY VLY PA J 4% 08/01/47 | CUSIP: 017465EN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1075000 | PA      | $1076665.82   | 0.06%             | 2047-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH                                       | WISCONSIN ST HLTH  4% 07/01/36 | CUSIP: 97712D3P9<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   1780000 | PA      | $1802997.24   | 0.09%             | 2036-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH                                       | WISCONSIN ST HLTH  5% 08/15/31 | CUSIP: 97712DKL9<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1212950.39   | 0.06%             | 2031-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN MUN PWR OHIO INC                                                 | AMERICAN MUNI PWR- 4% 02/15/37 | CUSIP: 02765URG1<br>LEI: EARKGGZJJEMVD66XQ486 | Long             | DBT              | MUN               | US        |    500000 | PA      | $513012.15    | 0.03%             | 2037-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA BRD REGENTS ARIZ ST UNIV                                          | ARIZONA BRD OF RGT 5% 06/01/28 | CUSIP: 040484QH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1205000 | PA      | $1310063.95   | 0.07%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA                                                                | ATLANTA GA ARPT RE 5% 07/01/42 | CUSIP: 04780MC72<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3375044.40   | 0.17%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA                                                                | ATLANTA GA ARPT RE 4% 07/01/39 | CUSIP: 04780MZY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $997805.50    | 0.05%             | 2039-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA                                                           | PHILADELPHIA PA 4% 05/01/41    | CUSIP: 717813ZC6<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2013724.80   | 0.10%             | 2041-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA                                                           | PHILADELPHIA PA AR 4% 07/01/38 | CUSIP: 717817XU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1197725.16   | 0.06%             | 2038-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                               | ILLINOIS ST 5% 11/01/23        | CUSIP: 452152P70<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1270451.38   | 0.07%             | 2023-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEBANON PA AUTH                                                           | LEBANON PA AUTH SW 4% 12/15/30 | CUSIP: 522858FS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    420000 | PA      | $446286.71    | 0.02%             | 2030-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEE CNTY FLA INDL DEV AUTH                                                | LEE CNTY FL INDL D 4% 11/15/30 | CUSIP: 52349EEG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    460000 | PA      | $443249.93    | 0.02%             | 2030-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEE CNTY FLA                                                              | LEE CNTY FL LOCAL  5% 08/01/40 | CUSIP: 52349LDT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $331578.81    | 0.02%             | 2040-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST ECONOMIC DEV CORP                                             | MARYLAND ST ECON D 4% 07/01/24 | CUSIP: 57420VND1<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |    600000 | PA      | $600719.28    | 0.03%             | 2024-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST HEALTH & HIGHER EDL FACS AUTH                                 | MARYLAND ST HLTH & 5% 05/15/38 | CUSIP: 574218QN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5035682.50   | 0.26%             | 2038-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST HEALTH & HIGHER EDL FACS AUTH                                 | MARYLAND ST HLTH 5.5% 01/01/26 | CUSIP: 574218S46<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $529702.60    | 0.03%             | 2026-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST PORT AUTH                                                | MASSACHUSETTS ST P 5% 07/01/31 | CUSIP: 575896UX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1555000 | PA      | $1727244.40   | 0.09%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MENIFEE CALIF UN SCH DIST PUB FING AUTH                                   | MENIFEE CA UNION S 5% 09/01/28 | CUSIP: 58680NBL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $342120.84    | 0.02%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MENIFEE CALIF UN SCH DIST                                                 | MENIFEE CA UNION S 5% 09/01/44 | CUSIP: 586810Q97<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1710000 | PA      | $1772929.20   | 0.09%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MENIFEE CALIF UN SCH DIST                                                 | MENIFEE CA UNION S 5% 09/01/48 | CUSIP: 586810R21<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1491848.60   | 0.08%             | 2048-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN GOVT NASHVILLE & DAVIDSON CNTY TENN HEALTH & EDL FACS BRD    | MET GOVT NASHVILLE 5% 10/01/29 | CUSIP: 592029AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $629378.58    | 0.03%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TPK COMMN                                                 | PENNSYLVANIA ST TU 5% 12/01/44 | CUSIP: 709224Q28<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2875000 | PA      | $3046920.40   | 0.16%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PIATT CHAMPAIGN & DE WITT CNTYS ILL CMNTY UNIT SCH DIST NO 025 MONTICELLO | PIATT CHAMPAIGN &  5% 11/01/33 | CUSIP: 719474DP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1090022.70   | 0.06%             | 2033-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PIERCE CNTY WASH SCH DIST NO 403 BETHEL                                   | PIERCE CNTY WA SCH 5% 12/01/36 | CUSIP: 720611YG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $662494.42    | 0.03%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PINON PINES MET DIST NO 2 COLO                                            | PINON PINES MET DI 5% 12/01/40 | CUSIP: 72352VAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    920000 | PA      | $890409.12    | 0.05%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA                                                           | PHILADELPHIA PA AR 4% 07/01/40 | CUSIP: 717817XW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $740081.48    | 0.04%             | 2040-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PINON PINES MET DIST NO 2 COLO                                            | PINON PINES MET DI 5% 12/01/50 | CUSIP: 72352VAB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1195000 | PA      | $1080789.67   | 0.06%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PITTSBURGH PA WTR & SWR AUTH                                              | PITTSBURGH PA WTR  5% 09/01/32 | CUSIP: 725304VV8<br>LEI: 54930034DVH6W22T1E86 | Long             | DBT              | MUN               | US        |    300000 | PA      | $350160.63    | 0.02%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PITTSBURGH PA WTR & SWR AUTH                                              | PITTSBURGH PA WTR  5% 09/01/34 | CUSIP: 725304VX4<br>LEI: 54930034DVH6W22T1E86 | Long             | DBT              | MUN               | US        |    205000 | PA      | $235856.48    | 0.01%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PLAINFIELD IND                                                            | PLAINFIELD IN  5.375% 09/01/38 | CUSIP: 72629VAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1690000 | PA      | $1420562.96   | 0.07%             | 2038-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PRICHARD ALA WTRWKS & SWR BRD                                             | PRICHARD AL WTRWKS 4% 11/01/31 | CUSIP: 741530HS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1565000 | PA      | $901764.74    | 0.05%             | 2031-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PRICHARD ALA WTRWKS & SWR BRD                                             | PRICHARD AL WTRWKS 4% 11/01/32 | CUSIP: 741530HT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1605000 | PA      | $892371.81    | 0.05%             | 2032-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AVON IND CMNTY SCH BLDG CORP                                              | AVON IN CMNTY SCH  5% 01/15/41 | CUSIP: 054071MZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2270000 | PA      | $2522955.63   | 0.13%             | 2041-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BALTIMORE CNTY MD                                                         | BALTIMORE CNTY MD 5% 03/01/29  | CUSIP: 05914GBR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2331759.40   | 0.12%             | 2029-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS CHARTER SCH                                           | PUBLIC FIN AUTH WI 5% 07/01/40 | CUSIP: 744396FS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $473263.50    | 0.02%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROMEOVILLE ILL                                                            | ROMEOVILLE IL REVE 5% 10/01/24 | CUSIP: 77615NAM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $112632.00    | 0.01%             | 2024-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROMEOVILLE ILL                                                            | ROMEOVILLE IL REVE 5% 10/01/25 | CUSIP: 77615NAN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $127239.34    | 0.01%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROSEVILLE CALIF                                                           | ROSEVILLE CA SPL T 5% 09/01/30 | CUSIP: 777870E93<br>LEI: 549300OH100KESVPND17 | Long             | DBT              | MUN               | US        |    110000 | PA      | $119426.01    | 0.01%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROSEVILLE CALIF                                                           | ROSEVILLE CA SPL T 5% 09/01/31 | CUSIP: 777870F27<br>LEI: 549300OH100KESVPND17 | Long             | DBT              | MUN               | US        |    100000 | PA      | $108445.85    | 0.01%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROSEVILLE CALIF                                                           | ROSEVILLE CA SPL T 4% 09/01/46 | CUSIP: 777870R73<br>LEI: 549300OH100KESVPND17 | Long             | DBT              | MUN               | US        |    640000 | PA      | $590412.29    | 0.03%             | 2046-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ROSEVILLE CALIF                                                           | ROSEVILLE CA SPL T 4% 09/01/32 | CUSIP: 777870V45<br>LEI: 549300OH100KESVPND17 | Long             | DBT              | MUN               | US        |    205000 | PA      | $210253.43    | 0.01%             | 2032-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ROSEVILLE CALIF                                                           | ROSEVILLE CA SPL T 4% 09/01/37 | CUSIP: 777870V60<br>LEI: 549300OH100KESVPND17 | Long             | DBT              | MUN               | US        |    225000 | PA      | $221326.94    | 0.01%             | 2037-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ROSEVILLE CALIF                                                           | ROSEVILLE CA SPL T 4% 09/01/41 | CUSIP: 777870V78<br>LEI: 549300OH100KESVPND17 | Long             | DBT              | MUN               | US        |    310000 | PA      | $294457.22    | 0.02%             | 2041-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ROSEVILLE CALIF                                                           | ROSEVILLE CA SPL T 4% 09/01/46 | CUSIP: 777870V86<br>LEI: 549300OH100KESVPND17 | Long             | DBT              | MUN               | US        |    520000 | PA      | $477590.00    | 0.02%             | 2046-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BENTON CNTY WASH PUB UTIL DIST NO 1                                       | BENTON CNTY WA PUB 4% 11/01/36 | CUSIP: 082869NC8<br>LEI: NIDQB523D1YQDZ8VK594 | Long             | DBT              | MUN               | US        |   1235000 | PA      | $1277606.76   | 0.07%             | 2036-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BERKELEY CNTY S C                                                         | BERKELEY CNTY S 4.25% 11/01/40 | CUSIP: 084220AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $1963795.73   | 0.10%             | 2040-11-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ROYAL OAK MICH HOSP FIN AUTH                                              | ROYAL OAK MI HOSP  5% 09/01/39 | CUSIP: 780486HD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3082895.40   | 0.16%             | 2039-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SACRAMENTO CALIF                                                          | SACRAMENTO CA SPL  4% 09/01/30 | CUSIP: 786071QT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $264557.88    | 0.01%             | 2030-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALA                                            | BLACK BELT ENERGY V/R 10/01/52 | CUSIP: 09182TAF4<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |  10070000 | PA      | $10090430.02  | 0.52%             | 2052-10-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALA                                            | BLACK BELT ENERGY  5% 06/01/26 | CUSIP: 09182TBH9<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1056514.90   | 0.05%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SACRAMENTO CALIF                                                          | SACRAMENTO CA SPL  4% 09/01/31 | CUSIP: 786071QU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $223644.48    | 0.01%             | 2031-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SACRAMENTO CALIF                                                          | SACRAMENTO CA SPL  4% 09/01/32 | CUSIP: 786071QV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    315000 | PA      | $319333.49    | 0.02%             | 2032-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALA                                            | BLACK BELT ENERGY V/R 11/01/53 | CUSIP: 09182TBT3<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1343195.25   | 0.07%             | 2053-11-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| BOARD MANAGERS JT GUADALUPE CNTY-CITY                                     | BRD OF MANAGERS TX 5% 12/01/24 | CUSIP: 09659MAJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $605805.60    | 0.03%             | 2024-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SACRAMENTO CALIF                                                          | SACRAMENTO CA SPL  4% 09/01/33 | CUSIP: 786071QW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    515000 | PA      | $520022.69    | 0.03%             | 2033-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SACRAMENTO CALIF                                                          | SACRAMENTO CA SPL  4% 09/01/35 | CUSIP: 786071QY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    615000 | PA      | $606527.33    | 0.03%             | 2035-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EPPERSON NORTH CMNTY DEV DIST FLA                                         | EPPERSON N CDD F 2.5% 05/01/26 | CUSIP: 29429VAF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $169704.61    | 0.01%             | 2026-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| EPPERSON NORTH CMNTY DEV DIST FLA                                         | EPPERSON N CDD F 3.4% 11/01/41 | CUSIP: 29429VAM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $968635.75    | 0.05%             | 2041-11-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| SACRAMENTO CALIF                                                          | SACRAMENTO CA TRAN 5% 06/01/35 | CUSIP: 786073BM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $549993.70    | 0.03%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRI-CNTY MET TRANSN DIST ORE                                              | TRI-CNTY OR MET TR 4% 09/01/39 | CUSIP: 89546RRT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $750520.07    | 0.04%             | 2039-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP                                                      | FLORIDA ST DEV FIN 4% 07/01/35 | CUSIP: 34061UGQ5<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    310000 | PA      | $303091.12    | 0.02%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP                                                      | FLORIDA ST DEV FIN 4% 07/01/45 | CUSIP: 34061UGR3<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    450000 | PA      | $395885.93    | 0.02%             | 2045-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST                                                             | WASHINGTON ST 5% 02/01/42      | CUSIP: 93974ELV6<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2244123.20   | 0.12%             | 2042-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMN                                               | WASHINGTON ST HSG  5% 07/01/28 | CUSIP: 939783RL2<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |     50000 | PA      | $50405.05     | 0.00%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP                                                      | FLORIDA ST DEV FIN 4% 07/01/55 | CUSIP: 34061UGS1<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    750000 | PA      | $630306.15    | 0.03%             | 2055-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GRAND FORKS N D                                                           | GRAND FORKS ND HLT 4% 12/01/36 | CUSIP: 38546WDH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $499018.75    | 0.03%             | 2036-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMN                                               | WASHINGTON ST HSG  7% 07/01/45 | CUSIP: 939783SG2<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2292863.37   | 0.12%             | 2045-07-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HEALTH CARE FACS AUTH                                       | WASHINGTON ST HLTH 5% 12/01/28 | CUSIP: 93978HXV2<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |    305000 | PA      | $338629.00    | 0.02%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HEALTH CARE FACS AUTH                                       | WASHINGTON ST HLTH 5% 12/01/32 | CUSIP: 93978HXZ3<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |    450000 | PA      | $503407.04    | 0.03%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUTLER CNTY OHIO                                                          | BUTLER CNTY OH HOS 5% 11/15/32 | CUSIP: 123550HR9<br>LEI: 54930064OLVQO8IVR655 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1083516.40   | 0.06%             | 2032-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                                    | F/C US 10YR NOTE (CBT)MAR23    | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |      -216 | NC      | $-270000.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| MASSACHUSETTS ST TRANSN FD                                                | MASSACHUSETTS ST T 5% 06/01/45 | CUSIP: 57604TCV6<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2074267.20   | 0.11%             | 2045-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAXATAWNY TWP PA MUN AUTH                                                 | MAXATAWNY TWP PA M 5% 01/01/41 | CUSIP: 57778PAC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $502478.55    | 0.03%             | 2041-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MEADE CNTY KY                                                             | MEADE CNTY KY IND V/R 08/01/61 | CUSIP: 583022AE8<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4000000.00   | 0.21%             | 2061-08-01      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| MECHANICSBURG PA AREA SCH DIST                                            | MECHANICSBURG PA A 4% 03/01/36 | CUSIP: 583726VC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1604357.11   | 0.08%             | 2036-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CITY & CNTY                                                   | DENVER CITY & CN 5.5% 11/15/42 | CUSIP: 249182QU3<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1714050.15   | 0.09%             | 2042-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CITY & CNTY                                                   | DENVER CITY & CN 5.5% 11/15/33 | CUSIP: 249182TB2<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |    900000 | PA      | $1089354.69   | 0.06%             | 2033-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MECHANICSBURG PA AREA SCH DIST                                            | MECHANICSBURG PA A 4% 03/01/38 | CUSIP: 583726VE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1090000 | PA      | $1116932.59   | 0.06%             | 2038-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MEDFORD ORE HOSP FACS AUTH                                                | MEDFORD OR HOSP FA 5% 08/15/34 | CUSIP: 584283GS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1404251.38   | 0.07%             | 2034-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MENIFEE CALIF UN SCH DIST                                                 | MENIFEE CA UNION S 5% 09/01/30 | CUSIP: 586810P72<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $189684.18    | 0.01%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MENIFEE CALIF UN SCH DIST                                                 | MENIFEE CA UNION S 5% 09/01/31 | CUSIP: 586810P80<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $162455.24    | 0.01%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MENIFEE CALIF UN SCH DIST                                                 | MENIFEE CA UNION S 5% 09/01/32 | CUSIP: 586810P98<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $156769.33    | 0.01%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MENIFEE CALIF UN SCH DIST                                                 | MENIFEE CA UNION S 5% 09/01/33 | CUSIP: 586810Q22<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    165000 | PA      | $178036.40    | 0.01%             | 2033-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN GOVT NASHVILLE & DAVIDSON CNTY TENN                          | MET GOVT NASHVILLE 5% 05/15/35 | CUSIP: 592030H86<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    865000 | PA      | $948639.79    | 0.05%             | 2035-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA INDL DEV AUTH                                          | MONTGOMERY CNTY PA 5% 12/01/44 | CUSIP: 613609K54<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    580000 | PA      | $601912.17    | 0.03%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CITY & CNTY                                                   | DENVER CITY & C 5.75% 11/15/41 | CUSIP: 249182TK2<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1525516.20   | 0.08%             | 2041-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| DENVER COLO HEALTH & HOSP AUTH                                            | DENVER CO HLTH & H 5% 12/01/26 | CUSIP: 24918TAG2<br>LEI: 549300WFV5S7GIR4OS67 | Long             | DBT              | MUN               | US        |    600000 | PA      | $640014.78    | 0.03%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MORTON GROVE-NILES WTR COMMN ILL                                          | MORTON GROVE-NILES 5% 12/01/41 | CUSIP: 619305AA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3635000 | PA      | $3966776.99   | 0.20%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MUNICIPAL ELEC AUTH GA                                                    | MUNI ELEC AUTH OF  4% 01/01/39 | CUSIP: 6262078C1<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    350000 | PA      | $353826.24    | 0.02%             | 2039-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MUNICIPAL ELEC AUTH GA                                                    | MUNI ELEC AUTH OF  4% 01/01/40 | CUSIP: 6262078D9<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    320000 | PA      | $322168.67    | 0.02%             | 2040-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MUNICIPAL ELEC AUTH GA                                                    | MUNI ELEC AUTH OF  5% 07/01/38 | CUSIP: 62620HGH9<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    600000 | PA      | $670221.84    | 0.03%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEWARK N J                                                                | NEWARK NJ 4% 09/29/23          | CUSIP: 650367SF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1608755.20   | 0.08%             | 2023-09-29      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TPK COMMN                                                 | PENNSYLVANIA ST TU 4% 12/01/45 | CUSIP: 709225BB1<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4427741.70   | 0.23%             | 2045-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TPK COMMN                                                 | PENNSYLVANIA ST 5.25% 12/01/41 | CUSIP: 709225GF7<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1122331.30   | 0.06%             | 2041-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TPK COMMN                                                 | PENNSYLVANIA ST 5.25% 12/01/42 | CUSIP: 709225GG5<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    545000 | PA      | $611670.56    | 0.03%             | 2042-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PEORIA ILL                                                                | PEORIA IL 4% 01/01/33          | CUSIP: 713178EZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    405000 | PA      | $437718.21    | 0.02%             | 2033-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH                                                      | PHILADELPHIA PA AU 5% 08/01/40 | CUSIP: 71780CAJ9<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    620000 | PA      | $638475.13    | 0.03%             | 2040-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA                                                           | PHILADELPHIA PA GA 5% 08/01/29 | CUSIP: 7178237M4<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |   1625000 | PA      | $1716118.30   | 0.09%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA                                                           | PHILADELPHIA PA GA 5% 10/01/29 | CUSIP: 7178238G6<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1075690.50   | 0.06%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA                                                           | PHILADELPHIA PA GA 5% 10/01/34 | CUSIP: 7178238M3<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2122706.20   | 0.11%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA                                                           | PHILADELPHIA PA GA 5% 08/01/42 | CUSIP: 71783MAY1<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |   5235000 | PA      | $5443239.92   | 0.28%             | 2042-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX ARIZ INDL DEV AUTH                                                | PHOENIX AZ INDL DE 5% 07/01/44 | CUSIP: 71885DEE8<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |    700000 | PA      | $708777.44    | 0.04%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX ARIZ INDL DEV AUTH                                                | PHOENIX AZ INDL DE 4% 12/01/41 | CUSIP: 71885JAA7<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4280690.00   | 0.22%             | 2041-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTH N Y & N J                                                       | PORT AUTH OF NEW Y 5% 09/01/23 | CUSIP: 73358WTM6<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |    500000 | PA      | $505434.85    | 0.03%             | 2023-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROSEVILLE CALIF                                                           | ROSEVILLE CA SPL T 4% 09/01/37 | CUSIP: 777870R24<br>LEI: 549300OH100KESVPND17 | Long             | DBT              | MUN               | US        |    350000 | PA      | $344662.85    | 0.02%             | 2037-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ROSEVILLE CALIF                                                           | ROSEVILLE CA SPL T 4% 09/01/51 | CUSIP: 777870V94<br>LEI: 549300OH100KESVPND17 | Long             | DBT              | MUN               | US        |    710000 | PA      | $637065.32    | 0.03%             | 2051-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ROSS CNTY OHIO                                                            | ROSS CNTY OH HOSP  5% 12/01/39 | CUSIP: 778260FL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6325000 | PA      | $6566022.35   | 0.34%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO INTL BUSINESS CTR MET DIST NO 1                               | DENVER CO INTERNAT 6% 12/01/48 | CUSIP: 249197BB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1790000 | PA      | $1798300.59   | 0.09%             | 2048-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| LEONARD TEX INDPT SCH DIST                                                | LEONARD TX INDEP S 5% 02/15/42 | CUSIP: 526588FE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1114880.00   | 0.06%             | 2042-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TAMPA FLA                                                                 | TAMPA FL REVENUE 5% 04/01/45   | CUSIP: 875231LU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5035000 | PA      | $5333199.89   | 0.28%             | 2045-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WARREN CNTY KY                                                            | WARREN CNTY KY HOS 5% 04/01/23 | CUSIP: 934864AU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $45190.94     | 0.00%             | 2023-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMN                                               | WSHFC 2021-1 A 3.5% 12/20/35   | CUSIP: 93978TS59<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   2439825 | PA      | $2301061.54   | 0.12%             | 2035-12-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MICH ARPT AUTH                                                 | WAYNE CNTY MI ARPT 5% 12/01/25 | CUSIP: 944514TB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2800000 | PA      | $2960714.68   | 0.15%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LINCOLN CNTY S D                                                          | LINCOLN CNTY SD EC 4% 08/01/51 | CUSIP: 53340EAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $833915.80    | 0.04%             | 2051-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LINCOLNWOOD ILL                                                           | LINCOLNWOOD IL  4.82% 01/01/41 | CUSIP: 53509AAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1392291.75   | 0.07%             | 2041-01-01      | Fixed         | 4.82%                 | No            |                  2 | On Loan: No      |
| WEST CORNWALL TWP PA MUN AUTH                                             | W CORNWALL TWP PA  4% 11/15/36 | CUSIP: 95235TAR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $196364.08    | 0.01%             | 2036-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH                                       | WISCONSIN ST HLTH  4% 02/15/36 | CUSIP: 97712DUC8<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100460.58    | 0.01%             | 2036-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH                                       | WISCONSIN ST HLTH  4% 04/01/39 | CUSIP: 97712DVZ6<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1124524.63   | 0.06%             | 2039-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH                                       | WISCONSIN ST HLTH  5% 12/01/39 | CUSIP: 97712JGM9<br>LEI: 549300K4GS3Z2EJB6Z40 | Long             | DBT              | MUN               | US        |    750000 | PA      | $816270.68    | 0.04%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LONG IS PWR AUTH N Y                                                      | LONG ISLAND NY PWR 4% 09/01/39 | CUSIP: 542691DK3<br>LEI: 1R46U5SYJ63KQXF39168 | Long             | DBT              | MUN               | US        |    500000 | PA      | $509963.30    | 0.03%             | 2039-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LORSON RANCH MET DIST NO 2 COLO                                           | LORSON RANCH MET D 5% 12/01/27 | CUSIP: 544186AA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    170000 | PA      | $179656.49    | 0.01%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WOODFORD MCLEAN & LIVINGSTON CNTYS ILL CMNTY UNIT SCH DIST                | WOODFORD MCLEAN &  4% 11/01/36 | CUSIP: 979417BC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1560000 | PA      | $1623752.99   | 0.08%             | 2036-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WYANDOTTE CNTY KANS                                                       | WYANDOTTE CNTY/KAN 5% 09/01/29 | CUSIP: 982674JQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $491476.37    | 0.03%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LORSON RANCH MET DIST NO 2 COLO                                           | LORSON RANCH MET D 4% 12/01/24 | CUSIP: 544186AG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101247.23    | 0.01%             | 2024-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF DEPT ARPTS                                              | LOS ANGELES CA DEP 5% 05/15/34 | CUSIP: 544445B57<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1715942.70   | 0.09%             | 2034-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF DEPT ARPTS                                              | LOS ANGELES CA DEP 5% 05/15/33 | CUSIP: 544445R84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3310000 | PA      | $3795003.38   | 0.20%             | 2033-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA LOC GOVT ENVIRONMENTAL FACS & CMNTY DEV AUTH                    | LOUISIANA ST LOCAL 5% 11/01/31 | CUSIP: 54628CDT6<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |    250000 | PA      | $272880.60    | 0.01%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WYANDOTTE CNTY KANS                                                       | WYANDOTTE CNTY/KAN 5% 09/01/40 | CUSIP: 982674KY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2076170.80   | 0.11%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WYANDOTTE CNTY/KANS CITY KANS UNI GOVT                                    | WYANDOTTE CNTY  5.75% 09/01/39 | CUSIP: 98267VDK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1949889.20   | 0.10%             | 2039-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY ARIZ INDL DEV AUTH                                          | MARICOPA CNTY AZ I 4% 07/01/35 | CUSIP: 56681NFM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1025000 | PA      | $1039324.68   | 0.05%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY ARIZ SPL HEALTH CARE DIST                                   | MARICOPA CNTY AZ S 5% 07/01/27 | CUSIP: 56756TAH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1475000 | PA      | $1644535.91   | 0.08%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA STAD & EXPOSITION DIST                                          | LOUISIANA STADIUM  5% 07/01/31 | CUSIP: 546410BX8<br>LEI: 5493000QEHWDGVGH7J62 | Long             | DBT              | MUN               | US        |    380000 | PA      | $382651.91    | 0.02%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FLA HEALTH FACS AUTH                                          | ORANGE CNTY FL HLT 5% 10/01/36 | CUSIP: 68450LHD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $163285.40    | 0.01%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WYANDOTTE CNTY KANS UNI SCH DIST NO 202                                   | WYANDOTTE CNTY KS  5% 09/01/32 | CUSIP: 982683FQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $168429.50    | 0.01%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| YONKERS N Y                                                               | YONKERS NY 5% 11/15/40         | CUSIP: 986082W50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $946870.25    | 0.05%             | 2040-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH                                                         | MICHIGAN ST FIN AU 5% 06/01/40 | CUSIP: 59447TG80<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2598304.25   | 0.13%             | 2040-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH                                                         | MICHIGAN ST FIN AU 4% 11/15/36 | CUSIP: 59447TMM2<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   2565000 | PA      | $2600494.21   | 0.13%             | 2036-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| YONKERS N Y                                                               | YONKERS NY 5% 11/15/41         | CUSIP: 986082W68<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $553907.75    | 0.03%             | 2041-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| YONKERS N Y ECONOMIC DEV CORP                                             | YONKERS NY ECON DE 4% 10/15/29 | CUSIP: 98608MAD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $381599.68    | 0.02%             | 2029-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH                                                         | MICHIGAN ST FIN AU 4% 02/15/47 | CUSIP: 59447TVD2<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1929247.60   | 0.10%             | 2047-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH                                                     | NEW YORK ST DORM A 4% 10/01/35 | CUSIP: 64990G6B3<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    475000 | PA      | $496006.31    | 0.03%             | 2035-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ZIONSVILLE IND CMNTY SCHS BLDG CORP                                       | ZIONSVILLE IN CMNT 4% 07/15/33 | CUSIP: 98972LNL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | PA      | $349875.54    | 0.02%             | 2033-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MED CARE COMMN RETIREMENT FACS                             | NORTH CAROLINA ST  5% 10/01/29 | CUSIP: 65820YNU6<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    630000 | PA      | $659084.52    | 0.03%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MED CARE COMMN RETIREMENT FACS                             | NORTH CAROLINA ST  5% 10/01/32 | CUSIP: 65820YNX0<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    470000 | PA      | $491697.97    | 0.03%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BALTIMORE CNTY MD                                                         | BALTIMORE CNTY MD  4% 01/01/39 | CUSIP: 059151CJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    565000 | PA      | $539429.46    | 0.03%             | 2039-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BALTIMORE CNTY MD                                                         | BALTIMORE CNTY MD  4% 01/01/40 | CUSIP: 059151CK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $617936.80    | 0.03%             | 2040-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MED CARE COMMN RETIREMENT FACS                             | NORTH CAROLINA ST  5% 10/01/37 | CUSIP: 65820YNY8<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    750000 | PA      | $784624.43    | 0.04%             | 2037-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH LAS VEGAS NEV                                                       | NORTH LAS VEGAS  3.5% 06/01/24 | CUSIP: 66041HGQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $114254.05    | 0.01%             | 2024-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NORTH LAS VEGAS NEV                                                       | NORTH LAS VEGAS 3.75% 06/01/25 | CUSIP: 66041HGR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $134343.54    | 0.01%             | 2025-06-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| NORTH LAS VEGAS NEV                                                       | NORTH LAS VEGAS 3.75% 06/01/26 | CUSIP: 66041HGS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    170000 | PA      | $167589.03    | 0.01%             | 2026-06-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| NORTH PK ISLE CMNTY DEV DIST FLA                                          | NORTH PARK ISL 3.625% 05/01/24 | CUSIP: 661416AA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $223525.94    | 0.01%             | 2024-05-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| NORTH PK ISLE CMNTY DEV DIST FLA                                          | NORTH PARK ISLE CM 4% 05/01/30 | CUSIP: 661416AB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $777724.88    | 0.04%             | 2030-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FLA HEALTH FACS AUTH                                          | ORANGE CNTY FL HLT 5% 10/01/37 | CUSIP: 68450LHE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $558424.45    | 0.03%             | 2037-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FLA HEALTH FACS AUTH                                          | ORANGE CNTY FL HLT 5% 10/01/41 | CUSIP: 68450LHJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1658847.75   | 0.09%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OREGON CITY ORE                                                           | OREGON CITY OR 4% 06/01/37     | CUSIP: 685831FH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $522582.10    | 0.03%             | 2037-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OREGON ST DEPT ADMINISTRATIVE SVCS                                        | OREGON ST DEPT OF  5% 04/01/34 | CUSIP: 68607VU78<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4392573.60   | 0.23%             | 2034-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OREGON ST DEPT ADMINISTRATIVE SVCS                                        | OREGON ST DEPT OF  5% 04/01/35 | CUSIP: 68607VU86<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2035000 | PA      | $2223761.51   | 0.11%             | 2035-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OREGON ST FACS AUTH                                                       | OREGON ST FACS AUT 5% 04/01/32 | CUSIP: 68608JSL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1149190.90   | 0.06%             | 2032-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PALM BEACH CNTY FLA HEALTH FACS AUTH                                      | PALM BEACH CNTY FL 5% 08/15/23 | CUSIP: 69651AAT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $810651.36    | 0.04%             | 2023-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TROY ALA                                                                  | TROY AL 4% 07/01/35            | CUSIP: 897285LN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1040000 | PA      | $1051133.62   | 0.05%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH                                                     | ARIZONA ST INDL DE 5% 08/01/27 | CUSIP: 04052ADE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1120561.00   | 0.06%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DETROIT MICH DOWNTOWN DEV AUTH                                            | DETROIT MI DOWNTOW 5% 07/01/32 | CUSIP: 251135GJ2<br>LEI: 549300WO3NSMP6FECO66 | Long             | DBT              | MUN               | US        |    240000 | PA      | $246607.49    | 0.01%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY HOUSTON TEX                                                    | UNIV OF HOUSTON TX 5% 02/15/35 | CUSIP: 914302CM4<br>LEI: 549300M19XU6IJMM4C45 | Long             | DBT              | MUN               | US        |   1900000 | PA      | $2025321.72   | 0.10%             | 2035-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TEX HIGHER ED FIN CORP                                          | ARLINGTON TX H 4.125% 02/15/41 | CUSIP: 0418064W7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1645000 | PA      | $1289514.84   | 0.07%             | 2041-02-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                               | ILLINOIS ST 5% 05/01/23        | CUSIP: 452152XS5<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    305000 | PA      | $306653.92    | 0.02%             | 2023-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH                                                       | INDIANA ST FIN AU V/R 12/15/46 | CUSIP: 455054BJ4<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4005108.80   | 0.21%             | 2046-12-15      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| AUSTIN TEX                                                                | AUSTIN TX ARPT SYS 5% 11/15/37 | CUSIP: 052398GV0<br>LEI: IW10PQVTU7HKS3JMW253 | Long             | DBT              | MUN               | US        |   4150000 | PA      | $4467489.53   | 0.23%             | 2037-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BOLINGBROOK ILL                                                           | BOLINGBROOK IL 4% 01/01/35     | CUSIP: 097552UD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1210000 | PA      | $1212276.74   | 0.06%             | 2035-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEE CNTY FLA INDL DEV AUTH                                                | LEE CNTY FL INDL D 5% 11/15/39 | CUSIP: 52349EDV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1013128.90   | 0.05%             | 2039-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST HEALTH & HIGHER EDL FACS AUTH                                 | MARYLAND ST HLTH & 4% 06/01/35 | CUSIP: 57421CCB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $253748.35    | 0.01%             | 2035-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BOWLING GREEN KY                                                          | BOWLING GREEN KY W 4% 06/01/32 | CUSIP: 102745PG5<br>LEI: 54930080VGM7PSGOKL96 | Long             | DBT              | MUN               | US        |   2350000 | PA      | $2445764.62   | 0.13%             | 2032-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BOWLING GREEN ST UNIV OHIO                                                | BOWLING GREEN OH S 4% 06/01/38 | CUSIP: 102885KP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $103091.86    | 0.01%             | 2038-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST HEALTH & HIGHER EDL FACS AUTH                                 | MARYLAND ST HLTH & 4% 06/01/36 | CUSIP: 57421CCC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $226045.85    | 0.01%             | 2036-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST HEALTH & HIGHER EDL FACS AUTH                                 | MARYLAND ST HLTH & 4% 06/01/46 | CUSIP: 57421CCJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $700420.28    | 0.04%             | 2046-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BOWLING GREEN ST UNIV OHIO                                                | BOWLING GREEN OH S 4% 06/01/39 | CUSIP: 102885KQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    195000 | PA      | $199910.08    | 0.01%             | 2039-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BRIDGETON MO                                                              | BRIDGETON MO SPL O 4% 12/01/31 | CUSIP: 108471AL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $322759.17    | 0.02%             | 2031-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BUCKEYE OHIO TOB SETTLEMENT FING AUTH                                     | BUCKEYE OH TOBACCO 4% 06/01/37 | CUSIP: 118217CT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3011233.20   | 0.16%             | 2037-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BUCKEYE OHIO TOB SETTLEMENT FING AUTH                                     | BUCKEYE OH TOBACCO 5% 06/01/55 | CUSIP: 118217CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2292008.64   | 0.12%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA HIGHER ED & HEALTH AUTH                                | MONTGOMERY CNTY PA 4% 09/01/44 | CUSIP: 613603B32<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1954588.00   | 0.10%             | 2044-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA INDL DEV AUTH                                          | MONTGOMERY CNTY PA 5% 12/01/26 | CUSIP: 613609E85<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    480000 | PA      | $497037.46    | 0.03%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHAMPTON CNTY PA GEN PURP AUTH                                         | NORTHAMPTON CNTY P 5% 10/01/25 | CUSIP: 66353LCS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $145640.28    | 0.01%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHAMPTON CNTY PA GEN PURP AUTH                                         | NORTHAMPTON CNTY P 5% 10/01/26 | CUSIP: 66353LCT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $237290.09    | 0.01%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA INDL DEV AUTH                                          | MONTGOMERY CNTY PA 4% 12/01/33 | CUSIP: 613609J64<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $102960.39    | 0.01%             | 2033-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA INDL DEV AUTH                                          | MONTGOMERY CNTY PA 4% 12/01/34 | CUSIP: 613609J72<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $204723.66    | 0.01%             | 2034-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LONG BEACH CALIF BD FIN AUTH                                              | LONG BEACH CA B 5.25% 11/15/23 | CUSIP: 54241AAR4<br>LEI: 549300BKBZ5U7OZH3S21 | Long             | DBT              | MUN               | US        |     45000 | PA      | $45624.98     | 0.00%             | 2023-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LONG IS PWR AUTH N Y                                                      | LONG ISLAND NY PWR 5% 09/01/44 | CUSIP: 5426904E9<br>LEI: 1R46U5SYJ63KQXF39168 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5107937.50   | 0.26%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHAMPTON CNTY PA GEN PURP AUTH                                         | NORTHAMPTON CNTY P 5% 10/01/31 | CUSIP: 66353LDB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    540000 | PA      | $568202.31    | 0.03%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHAMPTON CNTY PA GEN PURP AUTH                                         | NORTHAMPTON CNTY P 5% 08/15/28 | CUSIP: 66353RBT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1928261.70   | 0.10%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO ST HOSP EQUIP LN COUNCIL                                       | NEW MEXICO ST HOSP 4% 06/01/34 | CUSIP: 647370KK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1360000 | PA      | $1376361.75   | 0.07%             | 2034-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW ORLEANS LA AVIATION BRD                                               | NEW ORLEANS LA AVI 5% 01/01/28 | CUSIP: 64763HGX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $803168.25    | 0.04%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHEAST OHIO MED UNIV                                                   | N E OHIO MED UNIV  4% 12/01/35 | CUSIP: 66433RBC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $602991.12    | 0.03%             | 2035-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST AIR QUALITY DEV AUTH                                              | OHIO ST AIR QUALI V/R 06/01/41 | CUSIP: 677525WH6<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2759191.80   | 0.14%             | 2041-06-01      | Variable      | 2.60%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY ARIZ ELEM SCH DIST NO 25 LIBERTY                            | MARICOPA CNTY AZ E 5% 07/01/32 | CUSIP: 567134FN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1552937.94   | 0.08%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN GOVT NASHVILLE & DAVIDSON CNTY TENN HEALTH & EDL FACS BRD    | MET GOVT NASHVILLE 5% 10/01/39 | CUSIP: 592029AD4<br>LEI: 549300GW8FVQJ3DU6O10 | Long             | DBT              | MUN               | US        |    700000 | PA      | $715945.02    | 0.04%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST AIR QUALITY DEV AUTH                                              | OHIO ST AIR QUALI V/R 07/01/28 | CUSIP: 677525WK9<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $971028.20    | 0.05%             | 2028-07-01      | Variable      | 2.10%                 | No            |                  2 | On Loan: No      |
| OHIO ST WTR DEV AUTH                                                      | OHIO ST WTR DEV AU 5% 12/01/40 | CUSIP: 67765QMH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1162958.50   | 0.06%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW ORLEANS LA AVIATION BRD                                               | NEW ORLEANS LA AVI 5% 01/01/29 | CUSIP: 64763HGY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $803009.70    | 0.04%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW ORLEANS LA AVIATION BRD                                               | NEW ORLEANS LA AVI 5% 01/01/31 | CUSIP: 64763HHA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $213949.46    | 0.01%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FLA                                                       | MIAMI-DADE CNTY FL 5% 10/01/41 | CUSIP: 59333PU30<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6235985.40   | 0.32%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMISBURG OHIO CITY SCH DIST                                             | MIAMISBURG OH CITY 5% 12/01/35 | CUSIP: 593881LJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $619544.45    | 0.03%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST WTR DEV AUTH                                                      | OHIO ST WTR DEV AU 5% 12/01/41 | CUSIP: 67765QMJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1156461.80   | 0.06%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA CITY OKLA ARPT TRUST                                             | OKLAHOMA CITY OK A 5% 07/01/34 | CUSIP: 6785353X1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2815000 | PA      | $3053172.93   | 0.16%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW ORLEANS LA                                                            | NEW ORLEANS LA WTR 5% 12/01/28 | CUSIP: 647753KR2<br>LEI: 54930084B6KHR5PR2651 | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1100882.48   | 0.06%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH                                                     | NEW YORK ST DORM A 5% 03/15/38 | CUSIP: 64990AMP7<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   8000000 | PA      | $8784007.20   | 0.45%             | 2038-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH                                                         | MICHIGAN ST FIN AU 5% 07/01/34 | CUSIP: 59447PF48<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   2405000 | PA      | $2468182.48   | 0.13%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH                                                         | MICHIGAN ST FIN AU 5% 07/01/33 | CUSIP: 59447PJ28<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4112367.20   | 0.21%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH PK ISLE CMNTY DEV DIST FLA                                          | NORTH PARK ISLE  4.5% 05/01/40 | CUSIP: 661416AC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1545000 | PA      | $1440948.27   | 0.07%             | 2040-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NORTH PKWY MUN MGMT DIST NO 1 TEX                                         | NORTH PARKWAY M 4.75% 09/15/41 | CUSIP: 661441AC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2003000 | PA      | $1919227.33   | 0.10%             | 2041-09-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH                                                     | NEW YORK ST DORM A 3% 03/15/42 | CUSIP: 64990FZX5<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1925000 | PA      | $1637028.28   | 0.08%             | 2042-03-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MED CARE COMMN RETIREMENT FACS                             | NORTH CAROLINA ST  5% 10/01/47 | CUSIP: 65820YPB6<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    500000 | PA      | $523082.95    | 0.03%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BALTIMORE CNTY MD                                                         | BALTIMORE CNTY MD  4% 01/01/33 | CUSIP: 059151DA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $615946.38    | 0.03%             | 2033-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BALTIMORE CNTY MD                                                         | BALTIMORE CNTY MD  4% 01/01/36 | CUSIP: 059151DD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $655880.23    | 0.03%             | 2036-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH PKWY MUN MGMT DIST NO 1 TEX                                         | NORTH PARKWAY M 4.25% 09/15/51 | CUSIP: 66144PAD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $609008.82    | 0.03%             | 2051-09-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NORTH TEX TWY AUTH                                                        | N TX TOLLWAY AU 5.25% 01/01/38 | CUSIP: 66285WJ56<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1156491.00   | 0.06%             | 2038-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NORTH LAS VEGAS NEV                                                       | NORTH LAS VEGAS 3.75% 06/01/27 | CUSIP: 66041HGT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $234745.70    | 0.01%             | 2027-06-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| NORTH TEX TWY AUTH                                                        | N TX TOLLWAY AUTH  5% 01/01/31 | CUSIP: 66285WXB7<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2397060.90   | 0.12%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH TEX TWY AUTH                                                        | N TX TOLLWAY AUTH  5% 01/01/31 | CUSIP: 66285WLT1<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |   1525000 | PA      | $1557482.35   | 0.08%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                                       | PUBLIC FIN AUTH WI 5% 12/01/25 | CUSIP: 74443QAC6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020548.30   | 0.05%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CALIF CITY & CNTY DEV SPL TAX DIST NO 2020-1                | SAN FRANCISCO CA C 4% 09/01/41 | CUSIP: 79771HAD5<br>LEI: 549300RA28ZEFOB6M782 | Long             | DBT              | MUN               | US        |    700000 | PA      | $640716.72    | 0.03%             | 2041-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAN SIMEON CMNTY DEV DIST FLA                                             | SAN SIMEON CMN 4.125% 06/15/39 | CUSIP: 799528AC8<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |    335000 | PA      | $296633.05    | 0.02%             | 2039-06-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                                       | PUBLIC FIN AUTH WI 4% 11/15/37 | CUSIP: 74446CAC4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    600000 | PA      | $550751.82    | 0.03%             | 2037-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                                       | PUERTO RICO CMWLTH 4% 07/01/33 | CUSIP: 74514L3K1<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4686722.00   | 0.24%             | 2033-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH                                                         | MICHIGAN ST FIN AU 5% 04/15/33 | CUSIP: 59447T3N1<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |   1070000 | PA      | $1280091.40   | 0.07%             | 2033-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH                                                         | MICHIGAN ST FIN AU 5% 05/15/33 | CUSIP: 59447TBR3<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2085720.80   | 0.11%             | 2033-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP                                           | PUERTO RICO SALE 4.5% 07/01/34 | CUSIP: 74529JPU3<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |   6558000 | PA      | $6589488.24   | 0.34%             | 2034-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP                                           | PUERTO RICO SALES ZCP 07/01/27 | CUSIP: 74529JQC2<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |    429000 | PA      | $354267.51    | 0.02%             | 2027-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SANGER CALIF FING AUTH                                                    | SANGER CA FING AUT 5% 06/15/34 | CUSIP: 80083TAX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4205334.40   | 0.22%             | 2034-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SANTA FE N MEX                                                            | SANTA FE NM RETMNT 5% 05/15/34 | CUSIP: 802170AM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    520000 | PA      | $500000.18    | 0.03%             | 2034-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SHARONVILLE OHIO                                                          | SHARONVILLE OH SPL 4% 12/01/40 | CUSIP: 819878BQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $512164.95    | 0.03%             | 2040-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SHELL PT CMNTY DEV DIST FLA                                               | SHELL POINT CMNTY  4% 11/01/24 | CUSIP: 822666AB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $209230.31    | 0.01%             | 2024-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SARASOTA NATL CMNTY DEV DIST FLA                                          | SARASOTA NATIONAL  4% 05/01/39 | CUSIP: 80342PAH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1745000 | PA      | $1546670.63   | 0.08%             | 2039-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAWYERS LANDING CMNTY DEV DIST FLA                                        | SAWYERS LANDIN 4.125% 05/01/41 | CUSIP: 805517AC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1615000 | PA      | $1408412.43   | 0.07%             | 2041-05-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| SAWYERS LANDING CMNTY DEV DIST FLA                                        | SAWYERS LANDING 4.25% 05/01/53 | CUSIP: 805517AD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3635000 | PA      | $2979843.23   | 0.15%             | 2053-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SNOHOMISH CNTY WASH HSG AUTH                                              | SNOHOMISH CNTY WA  5% 04/01/34 | CUSIP: 83309AFQ9<br>LEI: 549300FESB68D2IR7250 | Long             | DBT              | MUN               | US        |    500000 | PA      | $552993.70    | 0.03%             | 2034-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SHREVEPORT LA                                                             | SHREVEPORT LA WTR  5% 12/01/30 | CUSIP: 825485TQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1722993.86   | 0.09%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SHREVEPORT LA                                                             | SHREVEPORT LA WTR  5% 12/01/32 | CUSIP: 825485XJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $705675.19    | 0.04%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA JOBS-ECONOMIC DEV AUTH                                     | SOUTH CAROLINA ST  5% 11/15/54 | CUSIP: 837031ZL0<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1075000 | PA      | $947898.88    | 0.05%             | 2054-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA JOBS-ECONOMIC DEV AUTH                                     | SOUTH CAROLINA ST  5% 08/01/23 | CUSIP: 83703FHE5<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |     30000 | PA      | $30382.72     | 0.00%             | 2023-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CHARLESTON W VA SPL DIST                                            | SOUTH CHARLESTO 4.25% 06/01/42 | CUSIP: 837323AA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $808997.90    | 0.04%             | 2042-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA BRD REGTS                                                    | SOUTH DAKOTA ST BR 5% 04/01/31 | CUSIP: 837542GY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    510000 | PA      | $552116.62    | 0.03%             | 2031-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SIMI VALLEY CALIF UNI SCH DIST                                            | SIMI VLY CA UNIF S 4% 08/01/32 | CUSIP: 828641XB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $160355.99    | 0.01%             | 2032-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SKAGIT CNTY WASH PUB HOSP DIST NO 1                                       | SKAGIT CNTY WA PUB 4% 12/01/24 | CUSIP: 830227DT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    270000 | PA      | $272744.44    | 0.01%             | 2024-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TAMPA FLA                                                                 | TAMPA FL HOSP REVE 5% 07/01/27 | CUSIP: 875161CN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $135910.13    | 0.01%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TAMPA FLA                                                                 | TAMPA FL HOSP REVE 5% 07/01/31 | CUSIP: 875161CS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $135055.28    | 0.01%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA BRD REGTS                                                    | SOUTH DAKOTA ST BR 5% 04/01/32 | CUSIP: 837542GZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    505000 | PA      | $545051.95    | 0.03%             | 2032-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SPARKS NEV TOURISM IMPT DIST NO 1                                         | SPARKS NV TOURIS 2.5% 06/15/24 | CUSIP: 846562AC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $365960.25    | 0.02%             | 2024-06-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| STERLING HILLS WEST MET DIST COLO                                         | STERLING HILLS CO  5% 12/01/32 | CUSIP: 85933MBP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $191702.04    | 0.01%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STONEYBROOK SOUTH CMNTY DEV DIST FLA                                      | STONEYBROOK FL 5.125% 11/01/34 | CUSIP: 86202RAF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2730000 | PA      | $2800045.52   | 0.14%             | 2034-11-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| SUFFOLK TOB ASSET SECURITIZATION CORP N Y TOB SETTLEMENT ASSET-BKD        | SUFFOLK NY TOBACCO 4% 06/01/50 | CUSIP: 864809CA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $639069.48    | 0.03%             | 2050-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SUMMER WOODS CMNTY DEV DIST FLA                                           | SUMMER WOODS CDD F 4% 05/01/50 | CUSIP: 865657AJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1285000 | PA      | $1031618.56   | 0.05%             | 2050-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TAMPA FLA                                                                 | TAMPA FL HOSP REVE 5% 07/01/32 | CUSIP: 875161CT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $224676.40    | 0.01%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SYRACUSE N Y REGL ARPT AUTH                                               | SYRACUSE REGL ARPT 4% 07/01/36 | CUSIP: 871740AQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $146628.57    | 0.01%             | 2036-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TAHOE-TRUCKEE CALIF UNI SCH DIST                                          | TAHOE-TRUCKEE CA U 4% 06/01/35 | CUSIP: 873885CG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $165628.40    | 0.01%             | 2035-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TAHOE-TRUCKEE CALIF UNI SCH DIST                                          | TAHOE-TRUCKEE CA U 4% 06/01/36 | CUSIP: 873885CH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    255000 | PA      | $262036.62    | 0.01%             | 2036-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TAKODA MET DIST COLO                                                      | TAKODA CO MET DIST 6% 12/01/36 | CUSIP: 874067AH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1983667.50   | 0.10%             | 2036-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NEW ORLEANS LA                                                            | NEW ORLEANS LA WTR 5% 12/01/34 | CUSIP: 647753LR1<br>LEI: 54930084B6KHR5PR2651 | Long             | DBT              | MUN               | US        |   1305000 | PA      | $1400512.82   | 0.07%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y                                                              | NEW YORK NY V/R 10/01/46       | CUSIP: 64966MU98<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |  10400000 | PA      | $10400000.00  | 0.54%             | 2046-10-01      | Variable      | 1.50%                 | No            |                  2 | On Loan: No      |
| TALLAHASSEE FLA                                                           | TALLAHASSEE FL ENE 5% 10/01/29 | CUSIP: 874476KJ2<br>LEI: 549300MPY4HDPK8B1G15 | Long             | DBT              | MUN               | US        |    500000 | PA      | $521113.45    | 0.03%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y                                                              | NEW YORK NY 5.25% 05/01/39     | CUSIP: 64966QB66<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $7004664.60   | 0.36%             | 2039-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y                                                              | NEW YORK NY 4% 10/01/37        | CUSIP: 64966QFK1<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    415000 | PA      | $421838.20    | 0.02%             | 2037-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BALTIMORE MD                                                              | BALTIMORE MD SP 2.85% 06/01/26 | CUSIP: 05923TCG2<br>LEI: 5493006QYFB72E0IOO54 | Long             | DBT              | MUN               | US        |    135000 | PA      | $128196.76    | 0.01%             | 2026-06-01      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| BENNETT RANCH MET DIST NO 1 COLO                                          | BENNETT RANCH MET  5% 12/01/41 | CUSIP: 08218DAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1625000 | PA      | $1526272.15   | 0.08%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y                                                              | NEW YORK NY 5.25% 10/01/39     | CUSIP: 64966QK58<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   5730000 | PA      | $6726547.28   | 0.35%             | 2039-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY TRANSITIONAL FIN AUTH                                   | NEW YORK CITY NY 5.5% 11/01/45 | CUSIP: 64971X4D7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2346093.60   | 0.12%             | 2045-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP                                            | NEW YORK CITY NY  V/R 11/01/62 | CUSIP: 64972E3D9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5043385.00   | 0.26%             | 2062-11-01      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY TRANSITIONAL FIN AUTH                                   | NEW YORK CITY NY T 5% 07/15/34 | CUSIP: 64972HU34<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1126337.60   | 0.06%             | 2034-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RAMPART RANGE MET DIST NO 1 COLO                                          | RAMPART RANGE CO M 5% 12/01/42 | CUSIP: 75157TAA7<br>LEI: 549300YG458KQEHMQF33 | Long             | DBT              | MUN               | US        |   5235000 | PA      | $5681638.16   | 0.29%             | 2042-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RIVERSIDE CALIF UNI SCH DIST                                              | RIVERSIDE CA UNIF  4% 09/01/27 | CUSIP: 769069N43<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $219348.93    | 0.01%             | 2027-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RIVERWALK MET DIST NO 2 COLO                                              | RIVERWALK METRO DI 5% 12/01/42 | CUSIP: 769504AB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2304807.00   | 0.12%             | 2042-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RIVINGTON CMNTY DEV DIST FLA                                              | RIVINGTON CDD F 3.25% 05/01/27 | CUSIP: 769656AE9<br>LEI: 254900WIKD77NGI97408 | Long             | DBT              | MUN               | US        |    350000 | PA      | $334335.58    | 0.02%             | 2027-05-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| ROCKLIN CALIF UNI SCH DIST CMNTY FACS DIST                                | ROCKLIN CA UNIF SC 5% 09/15/34 | CUSIP: 773756JX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    865000 | PA      | $989957.81    | 0.05%             | 2034-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAGEBRUSH FARM MET DIST NO 1 COLO                                         | SAGEBRUSH FARM 6.375% 12/01/42 | CUSIP: 78669HAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1021484.70   | 0.05%             | 2042-12-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ST JOHN BAPTIST PARISH LA                                                 | SAINT JOHN THE BA V/R 06/01/37 | CUSIP: 79020FAZ9<br>LEI: 1FRVQX2CRLGC1XLP5727 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $979964.60    | 0.05%             | 2037-06-01      | Variable      | 2.12%                 | No            |                  2 | On Loan: No      |
| ST JOHNS CNTY FLA INDL DEV AUTH                                           | SAINT JOHNS CNTY F 4% 12/15/31 | CUSIP: 79041LAL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    205000 | PA      | $189753.33    | 0.01%             | 2031-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ST JOHNS CNTY FLA INDL DEV AUTH                                           | SAINT JOHNS CNTY F 4% 12/15/36 | CUSIP: 79041LAM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $433138.65    | 0.02%             | 2036-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ST LOUIS MO MUN FIN CORP                                                  | SAINT LOUIS MO MUN 5% 02/15/28 | CUSIP: 79165NBH6<br>LEI: 549300CR13DAYKUKQN03 | Long             | DBT              | MUN               | US        |   1040000 | PA      | $1107971.38   | 0.06%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALA                                            | BLACK BELT ENERGY V/R 10/01/52 | CUSIP: 09182TAM9<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   7695000 | PA      | $7710611.62   | 0.40%             | 2052-10-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALA                                            | BLACK BELT ENERGY V/R 02/01/53 | CUSIP: 09182TCG0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5365350.00   | 0.28%             | 2053-02-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| ST LUCIE CNTY FLA                                                         | SAINT LUCIE CNTY  V/R 05/01/24 | CUSIP: 79208EBY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10000000.00  | 0.52%             | 2024-05-01      | Variable      | 1.40%                 | No            |                  2 | On Loan: No      |
| ST PAUL MINN HSG & REDEV AUTH                                             | SAINT PAUL MN HSG  5% 07/01/30 | CUSIP: 792905DE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    580000 | PA      | $607475.41    | 0.03%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN                               | SAN FRANCISCO CALI 5% 05/01/40 | CUSIP: 79766DRY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2130311.20   | 0.11%             | 2040-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA ST HEALTH & EDL FACS AUTH                                    | SOUTH DAKOTA ST HL 3% 09/01/32 | CUSIP: 83755VP40<br>LEI: 549300ZW6LKR8UI2C378 | Long             | DBT              | MUN               | US        |    640000 | PA      | $599236.16    | 0.03%             | 2032-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BLACK DESERT PUB INFRASTRUCTURE DIST UTAH                                 | BLACK DESERT PUB I 4% 03/01/51 | CUSIP: 09204PAD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4400000 | PA      | $3409278.84   | 0.18%             | 2051-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BOLINGBROOK ILL                                                           | BOLINGBROOK IL 5% 01/01/30     | CUSIP: 097552TJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1115011.90   | 0.06%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH WAYNE CNTY WTR & SWR AUTH PA                                        | SOUTH WAYNE CNTY P 4% 02/15/34 | CUSIP: 840627BD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $324006.54    | 0.02%             | 2034-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH WAYNE CNTY WTR & SWR AUTH PA                                        | SOUTH WAYNE CNTY P 4% 02/15/35 | CUSIP: 840627BE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $346899.54    | 0.02%             | 2035-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FLA HEALTH FACS AUTH                                          | ORANGE CNTY FL HLT 5% 08/01/31 | CUSIP: 68450LFL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $857454.26    | 0.04%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FLA HEALTH FACS AUTH                                          | ORANGE CNTY FL HLT 5% 08/01/41 | CUSIP: 68450LFN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1039338.50   | 0.05%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRIGHTON CROSSING MET DIST NO 6 COLO                                      | BRIGHTON CROSSING  5% 12/01/50 | CUSIP: 10933PAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1340000 | PA      | $1170981.78   | 0.06%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH WAYNE CNTY WTR & SWR AUTH PA                                        | SOUTH WAYNE CNTY P 4% 02/15/36 | CUSIP: 840627BF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $247376.89    | 0.01%             | 2036-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TAMPA FLA                                                                 | TAMPA FL HOSP REVE 5% 07/01/33 | CUSIP: 875161CU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $280005.05    | 0.01%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BROWARD CNTY FLA                                                          | BROWARD CNTY FL CO 5% 01/01/32 | CUSIP: 115012AF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1742662.93   | 0.09%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BROWARD CNTY FLA                                                          | BROWARD CNTY FL PO 5% 09/01/27 | CUSIP: 11506KGD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1472118.71   | 0.08%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PANAMA CITY BEACH FLA                                                     | PANAMA CITY BEACH  5% 11/01/32 | CUSIP: 698148AY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $234152.80    | 0.01%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PARK CREEK MET DIST COLO                                                  | PARK CREEK CO MET  5% 12/01/45 | CUSIP: 700387DM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2063586.20   | 0.11%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JEA FLA                                                                   | JEA FL WTR & SWR R 4% 10/01/37 | CUSIP: 46615SDW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    480000 | PA      | $494729.81    | 0.03%             | 2037-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JEA FLA                                                                   | JEA FL WTR & SWR R 4% 10/01/38 | CUSIP: 46615SDX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $511264.80    | 0.03%             | 2038-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PARK CREEK MET DIST COLO                                                  | PARK CREEK CO MET  5% 12/01/24 | CUSIP: 700387DZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $31310.69     | 0.00%             | 2024-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PARK CREEK MET DIST COLO                                                  | PARK CREEK CO MET  4% 12/01/34 | CUSIP: 700387GW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2950000 | PA      | $3132723.30   | 0.16%             | 2034-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TSASC INC N Y                                                             | TSASC INC NY 5% 06/01/48       | CUSIP: 898526FR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8000000 | PA      | $7528952.80   | 0.39%             | 2048-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TULARE CALIF LOC HEALTH CARE DIST                                         | TULARE CA LOCAL HL 4% 08/01/35 | CUSIP: 89910NDG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $681380.90    | 0.04%             | 2035-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TULSA CNTY OKLA INDL AUTH                                                 | TULSA CNTY OK INDL 5% 11/15/25 | CUSIP: 899530AP4<br>LEI: 549300WEYXBXLGN1E271 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1022613.90   | 0.05%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TULSA CNTY OKLA INDL AUTH                                                 | TULSA CNTY OK INDL 5% 11/15/26 | CUSIP: 899530AQ2<br>LEI: 549300WEYXBXLGN1E271 | Long             | DBT              | MUN               | US        |    250000 | PA      | $257535.85    | 0.01%             | 2026-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TUSTIN CALIF CMNTY FACS DIST                                              | TUSTIN CA CMNTY FA 5% 09/01/35 | CUSIP: 901047GC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    865000 | PA      | $907381.89    | 0.05%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UAB MEDICINE FIN AUTH ALA                                                 | UAB MEDICINE FIN A 5% 09/01/34 | CUSIP: 902562AS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $112137.43    | 0.01%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JEA FLA                                                                   | JEA FL WTR & SWR R 4% 10/01/39 | CUSIP: 46615SDY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $508775.35    | 0.03%             | 2039-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JACKSON CNTY MO CONS SCH DIST NO 4                                        | JACKSON CNTY MO CO 4% 03/01/31 | CUSIP: 467484RS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2150000 | PA      | $2266615.36   | 0.12%             | 2031-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HSG FIN AGY                                                  | PENNSYLVANIA ST  3.7% 10/01/47 | CUSIP: 7087968G5<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |    880000 | PA      | $840244.42    | 0.04%             | 2047-10-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HSG FIN AGY                                                  | PENNSYLVANIA ST 3.55% 10/01/33 | CUSIP: 70879QCB7<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   5410000 | PA      | $5429610.17   | 0.28%             | 2033-10-01      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ECONOMIC DEV FIN AUTH                                            | KENTUCKY ST ECON  ZCP 10/01/25 | CUSIP: 49126VCG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $147089.31    | 0.01%             | 2025-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST                                                               | KENTUCKY ST COPS 5% 04/15/38   | CUSIP: 491449BK9<br>LEI: 549300F6MON81PRPVJ50 | Long             | DBT              | MUN               | US        |   5620000 | PA      | $6124559.67   | 0.32%             | 2038-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PPTY & BLDGS COMMN                                            | KENTUCKY ST PROPER 5% 11/01/37 | CUSIP: 49151FM72<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5620035.00   | 0.29%             | 2037-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST UNIV                                                          | KENTUCKY ST UNIV C 4% 11/01/46 | CUSIP: 491588AR0<br>LEI: 549300CXE3YQ1HXYCQ71 | Long             | DBT              | MUN               | US        |    440000 | PA      | $438962.22    | 0.02%             | 2046-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KERN CALIF CMNTY COLLEGE DIST                                             | KERN CA CMNTY C 5.25% 08/01/40 | CUSIP: 492244GS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1171504.00   | 0.06%             | 2040-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LA VERNIA TEX HIGHER ED FIN CORP                                          | LA VERNIA TX HG 4.35% 08/15/25 | CUSIP: 505237CJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    430000 | PA      | $441025.93    | 0.02%             | 2025-08-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| LAKE SHORE MICH PUB SCHS                                                  | LAKE SHORE MI PUBL 5% 11/01/37 | CUSIP: 510768JJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1195000 | PA      | $1356658.64   | 0.07%             | 2037-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAKELAND FLA                                                              | LAKELAND FL HOSP S 5% 11/15/33 | CUSIP: 511665JK8<br>LEI: XRPK4ZALF4437WO3JQ94 | Long             | DBT              | MUN               | US        |   1230000 | PA      | $1286926.61   | 0.07%             | 2033-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST                                                           | PENNSYLVANIA ST 4% 09/15/31    | CUSIP: 70914PF64<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $527775.00    | 0.03%             | 2031-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HIGHER EDL FACS AUTH                                      | PENNSYLVANIA ST HG 5% 05/01/34 | CUSIP: 70917SXR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1105000 | PA      | $1167633.17   | 0.06%             | 2034-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAKES AT CENTERRA MET DIST NO 2 COLO                                      | LAKES AT CENTE 4.625% 12/01/27 | CUSIP: 51207GAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    860000 | PA      | $844449.39    | 0.04%             | 2027-12-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| LANCASTER CNTY PA HOSP AUTH                                               | LANCASTER CNTY PA  5% 06/15/30 | CUSIP: 51404PAC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    480000 | PA      | $481009.39    | 0.02%             | 2030-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANTERNS MET DIST NO 1 COLO                                               | LANTERNS MET DIST  5% 12/01/49 | CUSIP: 51654AAB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $938204.30    | 0.05%             | 2049-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAREDO TEX CMNTY COLLEGE DIST                                             | LAREDO TX CMNTY CL 4% 08/01/33 | CUSIP: 516826KK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1322752.50   | 0.07%             | 2033-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEANDER TEX                                                               | LEANDER TX SPL 5.125% 09/01/38 | CUSIP: 521842AK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1290000 | PA      | $1299223.76   | 0.07%             | 2038-09-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| LEAVENWORTH CNTY KANS UNI SCH DIST NO 464 TONGANOXIE                      | LEAVENWORTH CNTY K 4% 09/01/31 | CUSIP: 522223GF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $530119.20    | 0.03%             | 2031-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA CNTY OKLA FIN AUTH                                               | OKLAHOMA CNTY OK F 5% 10/01/25 | CUSIP: 67868UFW8<br>LEI: 549300KPR05JUN0F1289 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1062853.40   | 0.05%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AKRON BATH COPLEY OHIO JT TWP HOSP DIST                                   | AKRON BATH COPLEY  4% 11/15/36 | CUSIP: 009730PT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $873506.16    | 0.05%             | 2036-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALACHUA CNTY FLA HEALTH FACS AUTH                                         | ALACHUA CNTY FL HL 4% 10/01/40 | CUSIP: 010684AW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    545000 | PA      | $464910.34    | 0.02%             | 2040-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALBUQUERQUE N MEX                                                         | ALBUQUERQUE NM REF 5% 07/01/31 | CUSIP: 013630EC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    265000 | PA      | $312265.21    | 0.02%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH                                                     | ARIZONA ST INDL DE 5% 11/01/27 | CUSIP: 04052ADF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1985000 | PA      | $2237231.77   | 0.12%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH                                                     | ARIZONA ST INDL DE 5% 05/01/28 | CUSIP: 04052ADH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1137112.70   | 0.06%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH                                                     | ARIZONA ST INDL DE 4% 11/01/38 | CUSIP: 04052FBR5<br>LEI: 549300UXW2QG1W1XXQ37 | Long             | DBT              | MUN               | US        |    595000 | PA      | $586320.97    | 0.03%             | 2038-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TEX HIGHER ED FIN CORP                                          | ARLINGTON TX HGR E 5% 08/15/34 | CUSIP: 041806XY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $602298.06    | 0.03%             | 2034-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TEX HIGHER ED FIN CORP                                          | ARLINGTON TX HGR E 4% 08/15/35 | CUSIP: 041806XZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    565000 | PA      | $587163.09    | 0.03%             | 2035-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARMSTRONG SCH DIST PA                                                     | ARMSTRONG PA SCH D 4% 03/15/37 | CUSIP: 042467MN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $517970.05    | 0.03%             | 2037-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HERITAGE HARBOUR NORTH CMNTY DEV DIST FLA                                 | HERITAGE HARBOUR F 5% 05/01/25 | CUSIP: 42726UAJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $383617.52    | 0.02%             | 2025-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HERMITAGE PA MUN AUTH                                                     | HERMITAGE PA MUNI  4% 02/01/31 | CUSIP: 427585HN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    760000 | PA      | $813207.90    | 0.04%             | 2031-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HERMITAGE PA MUN AUTH                                                     | HERMITAGE PA MUNI  4% 02/01/33 | CUSIP: 427585HQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    515000 | PA      | $545306.82    | 0.03%             | 2033-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IDAHO HEALTH FACS AUTH                                                    | IDAHO ST HLTH FACS 5% 09/01/37 | CUSIP: 451295YT0<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1016986.30   | 0.05%             | 2037-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AUSTIN TEX                                                                | AUSTIN TX 3.15% 09/01/28       | CUSIP: 052397AN6<br>LEI: IW10PQVTU7HKS3JMW253 | Long             | DBT              | MUN               | US        |   3735000 | PA      | $3791829.89   | 0.20%             | 2028-09-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| IDAHO HEALTH FACS AUTH                                                    | IDAHO ST HLTH FACS 5% 03/01/34 | CUSIP: 451295ZT9<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2162848.80   | 0.11%             | 2034-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH                                                         | ILLINOIS ST FIN AU 5% 09/01/39 | CUSIP: 45203HZR6<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1040053.20   | 0.05%             | 2039-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BERKS CNTY PA INDL DEV AUTH                                               | BERKS CNTY PA INDL 5% 05/15/32 | CUSIP: 08452RAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    460000 | PA      | $464379.57    | 0.02%             | 2032-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BEXAR CNTY TEX                                                            | BEXAR CNTY TX REVE 4% 08/15/38 | CUSIP: 088518LW3<br>LEI: 549300PNUZ5DCWVF3E76 | Long             | DBT              | MUN               | US        |    910000 | PA      | $921536.43    | 0.05%             | 2038-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BUCKS CNTY PA INDL DEV AUTH                                               | BUCKS CNTY PA INDL 5% 10/01/33 | CUSIP: 118612MU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $421348.92    | 0.02%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUFFALO RIDGE MET DIST COLO                                               | BUFFALO RIDGE CO M 5% 12/01/26 | CUSIP: 119802AM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $273285.75    | 0.01%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH                                                         | ILLINOIS ST FIN AU 5% 12/01/30 | CUSIP: 45204EG51<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    500000 | PA      | $565696.35    | 0.03%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH                                                         | ILLINOIS ST FIN AU 5% 03/01/47 | CUSIP: 45204ESL3<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1010000 | PA      | $1037462.91   | 0.05%             | 2047-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUILD NYC RESOURCE CORP N Y                                               | BUILD NYC RESOURCE 5% 07/01/36 | CUSIP: 12008ETU0<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    415000 | PA      | $451319.68    | 0.02%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUNCOMBE CNTY N C                                                         | BUNCOMBE CNTY NC L 5% 06/01/29 | CUSIP: 120525HB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $291369.63    | 0.02%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                               | ILLINOIS ST 5% 10/01/24        | CUSIP: 4521522W0<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    115000 | PA      | $118942.40    | 0.01%             | 2024-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH                                                       | INDIANA ST FIN AUT 4% 11/01/36 | CUSIP: 45471ASW3<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    930000 | PA      | $942760.62    | 0.05%             | 2036-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH                                                       | INDIANA ST FIN AUT 6% 11/15/28 | CUSIP: 45506DKS3<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |     55000 | PA      | $56157.71     | 0.00%             | 2028-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| KISKI VY WTR POLLUTN CTL AUTH PA                                          | KISKI VLY PA WTR P 4% 09/01/42 | CUSIP: 497766DD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1730000 | PA      | $1735105.58   | 0.09%             | 2042-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH                                                       | INDIANA ST FIN AUT 5% 01/01/40 | CUSIP: 45471AUA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1105365.80   | 0.06%             | 2040-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTH N Y & N J                                                       | PORT AUTH OF NEW Y 5% 10/15/34 | CUSIP: 73358WZF4<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5342355.50   | 0.28%             | 2034-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT SEATTLE WASH                                                         | PORT OF SEATTLE WA 5% 08/01/35 | CUSIP: 735389U97<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   1895000 | PA      | $2115396.65   | 0.11%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                                       | PUBLIC FIN AUTH WI 5% 06/01/39 | CUSIP: 74439YCU3<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1595000 | PA      | $1605209.28   | 0.08%             | 2039-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KYLE TEX                                                                  | KYLE TX SPL AS 4.625% 09/01/39 | CUSIP: 50156CAC4<br>LEI: 549300K0SYODYQ0ANN48 | Long             | DBT              | MUN               | US        |    500000 | PA      | $483888.50    | 0.02%             | 2039-09-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| LA VERNIA TEX HIGHER ED FIN CORP                                          | LA VERNIA TX HGR 4.2% 08/15/25 | CUSIP: 505237CE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    410000 | PA      | $419869.56    | 0.02%             | 2025-08-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| KENTUCKY INC KY PUB ENERGY AUTH                                           | KENTUCKY ST PUBLI V/R 01/01/49 | CUSIP: 74440DBD5<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   5395000 | PA      | $5395515.22   | 0.28%             | 2049-01-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| TEXAS WATER DEV BRD                                                       | TEXAS ST WTR DEV B 5% 04/15/30 | CUSIP: 882854A36<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    785000 | PA      | $879667.47    | 0.05%             | 2030-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER CNTY PA HOSP AUTH                                               | LANCASTER CNTY PA  5% 06/15/38 | CUSIP: 51404PAG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1110000 | PA      | $1061724.10   | 0.05%             | 2038-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER CNTY S C                                                        | LANCASTER CNTY SC  5% 12/01/26 | CUSIP: 514088AL7<br>LEI: 5493004EFQNI7UOCFI47 | Long             | DBT              | MUN               | US        |   1310000 | PA      | $1315652.39   | 0.07%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| THIRD CREEK MET DIST NO 1 COLO                                            | THIRD CREEK MET  4.5% 12/01/37 | CUSIP: 88423EAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $718276.52    | 0.04%             | 2037-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| THIRD CREEK MET DIST NO 1 COLO                                            | THIRD CREEK MET  4.5% 12/01/42 | CUSIP: 88423EAB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $673016.60    | 0.03%             | 2042-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| LANCASTER CNTY S C                                                        | LANCASTER CNTY SC  5% 12/01/31 | CUSIP: 514088AM5<br>LEI: 5493004EFQNI7UOCFI47 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002279.30   | 0.05%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEAVENWORTH CNTY KANS UNI SCH DIST NO 464 TONGANOXIE                      | LEAVENWORTH CNTY K 4% 09/01/32 | CUSIP: 522223GG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $661906.75    | 0.03%             | 2032-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| THOMPSON CROSSING MET DIST NO 4 COLO                                      | THOMPSON CROSSING  5% 12/01/39 | CUSIP: 88477EAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1360019.08   | 0.07%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TIMBER CREEK CMNTY DEV DIST FLA                                           | TIMBER CREEK C 4.125% 11/01/24 | CUSIP: 887078AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     90000 | PA      | $89867.59     | 0.00%             | 2024-11-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| LEAVENWORTH CNTY KANS UNI SCH DIST NO 464 TONGANOXIE                      | LEAVENWORTH CNTY K 4% 09/01/33 | CUSIP: 522223GH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $608036.97    | 0.03%             | 2033-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEAVENWORTH CNTY KANS UNI SCH DIST NO 464 TONGANOXIE                      | LEAVENWORTH CNTY K 4% 09/01/34 | CUSIP: 522223GJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $525048.90    | 0.03%             | 2034-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEAVENWORTH CNTY KANS UNI SCH DIST NO 464 TONGANOXIE                      | LEAVENWORTH CNTY K 4% 09/01/35 | CUSIP: 522223GK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $545604.31    | 0.03%             | 2035-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEAVENWORTH CNTY KANS UNI SCH DIST NO 464 TONGANOXIE                      | LEAVENWORTH CNTY K 4% 09/01/36 | CUSIP: 522223GL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $619699.98    | 0.03%             | 2036-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TOB SECURITIZATION AUTH NORTHN CALIF                                      | TOBACCO SECURITIZA 4% 06/01/37 | CUSIP: 888794BT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000009.70   | 0.05%             | 2037-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SECURITIZATION AUTH SOUTHN CALIF                                  | TOBACCO SECURITIZA 5% 06/01/34 | CUSIP: 888804CK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1098668.40   | 0.06%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEBANON PA AUTH                                                           | LEBANON PA AUTH SW 4% 12/15/29 | CUSIP: 522858FR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    405000 | PA      | $432255.29    | 0.02%             | 2029-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST AIR QUALITY DEV AUTH                                              | OHIO ST AIR QUA 3.25% 09/01/29 | CUSIP: 677525WB9<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   2225000 | PA      | $2070309.99   | 0.11%             | 2029-09-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| TOBACCO SECURITIZATION AUTH SOUTHN CALIF                                  | TOBACCO SECURITIZA 5% 06/01/35 | CUSIP: 888804CL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1637790.75   | 0.08%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT AUTH IOWA                                              | TOBACCO SETTLEMENT 5% 06/01/32 | CUSIP: 888805BW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $220536.60    | 0.01%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FLA HEALTH FACS AUTH                                          | ORANGE CNTY FL HLT 5% 08/01/34 | CUSIP: 68450LCY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    345000 | PA      | $352422.74    | 0.02%             | 2034-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FLA HEALTH FACS AUTH                                          | ORANGE CNTY FL HLT 5% 08/01/29 | CUSIP: 68450LDA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    680000 | PA      | $695355.96    | 0.04%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FLA HEALTH FACS AUTH                                          | ORANGE CNTY FL HLT 5% 10/01/39 | CUSIP: 68450LEN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2104468.80   | 0.11%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PARK CREEK MET DIST COLO                                                  | PARK CREEK CO MET  5% 12/01/31 | CUSIP: 700387DF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $158107.65    | 0.01%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT AUTH IOWA                                              | TOBACCO SETTLEMENT 4% 06/01/35 | CUSIP: 888805BZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $303373.29    | 0.02%             | 2035-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT AUTH IOWA                                              | TOBACCO SETTLEMENT 4% 06/01/38 | CUSIP: 888805CC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $197506.98    | 0.01%             | 2038-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PARK CREEK MET DIST COLO                                                  | PARK CREEK CO MET  5% 12/01/34 | CUSIP: 700387DJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $157275.20    | 0.01%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT AUTH IOWA                                              | TOBACCO SETTLEMENT 4% 06/01/39 | CUSIP: 888805CD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $293989.35    | 0.02%             | 2039-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP N J                                          | TOBACCO SETTLEMENT 5% 06/01/27 | CUSIP: 888808HC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $533948.30    | 0.03%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP N J                                          | TOBACCO SETTLEMENT 5% 06/01/37 | CUSIP: 888808HP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1850000 | PA      | $1947447.64   | 0.10%             | 2037-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP N J                                          | TOBACCO SETTLEM 5.25% 06/01/46 | CUSIP: 888808HR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5505000 | PA      | $5754103.45   | 0.30%             | 2046-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VACAVILLE CALIF UNI SCH DIST                                              | VACAVILLE CA UNIF  4% 08/01/35 | CUSIP: 918608TY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $315119.73    | 0.02%             | 2035-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VACAVILLE CALIF UNI SCH DIST                                              | VACAVILLE CA UNIF  4% 08/01/37 | CUSIP: 918608UA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $621517.56    | 0.03%             | 2037-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VERMONT ECONOMIC DEV AUTH                                                 | VERMONT ST ECON D V/R 04/01/36 | CUSIP: 924157AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1975921.60   | 0.10%             | 2036-04-01      | Variable      | 4.62%                 | No            |                  2 | On Loan: No      |
| WEST HARRIS CNTY TEX REGL WTR AUTH                                        | W HARRIS CNTY TX R 3% 12/15/36 | CUSIP: 95308RWQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1605000 | PA      | $1472883.78   | 0.08%             | 2036-12-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WEST RANKIN MISS                                                          | WEST RANKIN MS UTI 5% 01/01/32 | CUSIP: 955525BQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $525381.95    | 0.03%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST RANKIN MISS                                                          | WEST RANKIN MS UTI 5% 01/01/33 | CUSIP: 955525BR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1215000 | PA      | $1276678.14   | 0.07%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH                                       | WISCONSIN ST HLTH  5% 09/15/30 | CUSIP: 97712DK88<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    435000 | PA      | $441626.09    | 0.02%             | 2030-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH                                                     | ARIZONA ST INDL DE 5% 07/01/26 | CUSIP: 04052BAK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    880000 | PA      | $890718.58    | 0.05%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH                                                     | ARIZONA ST INDL DE 4% 07/01/41 | CUSIP: 04052BQF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $456162.60    | 0.02%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AUSTIN TEX                                                                | AUSTIN TX ARPT SYS 5% 11/15/33 | CUSIP: 052398EN0<br>LEI: IW10PQVTU7HKS3JMW253 | Long             | DBT              | MUN               | US        |    450000 | PA      | $463044.65    | 0.02%             | 2033-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EAST BATON ROUGE LA SEW COMMN                                             | E BATON ROUGE PARI 4% 02/01/45 | CUSIP: 270618FQ9<br>LEI: 5493006BC84VNIRSCG97 | Long             | DBT              | MUN               | US        |   6500000 | PA      | $6488951.95   | 0.33%             | 2045-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EAST BATON ROUGE PARISH LA CAP IMPTS DIST                                 | EAST BATON ROUGE P 4% 08/01/35 | CUSIP: 270773AR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1334884.95   | 0.07%             | 2035-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EAST BATON ROUGE PARISH LA CAP IMPTS DIST                                 | EAST BATON ROUGE P 4% 08/01/36 | CUSIP: 270773AS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1520000 | PA      | $1597353.26   | 0.08%             | 2036-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HAZARD KY                                                                 | HAZARD KY HLTHCARE 4% 07/01/39 | CUSIP: 421381AX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $492987.55    | 0.03%             | 2039-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEBRASKA PUB PWR DIST                                                     | NEBRASKA ST PUBLIC 5% 01/01/35 | CUSIP: 63968AQ24<br>LEI: 5493001J0BLQRMOJKP23 | Long             | DBT              | MUN               | US        |    500000 | PA      | $529378.75    | 0.03%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEVADA ST                                                                 | NEVADA DEPT OF BUS 5% 07/15/27 | CUSIP: 641454AB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    335000 | PA      | $340240.41    | 0.02%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH TEX TWY AUTH                                                        | N TX TOLLWAY AUTH  5% 01/01/33 | CUSIP: 66285WSM9<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |    250000 | PA      | $266202.00    | 0.01%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH TEX TWY AUTH                                                        | N TX TOLLWAY AUTH  5% 01/01/29 | CUSIP: 66285WZL3<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |    170000 | PA      | $191642.11    | 0.01%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH TEX TWY AUTH                                                        | N TX TOLLWAY AUTH  4% 01/02/38 | CUSIP: 66285WZW9<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |   5950000 | PA      | $6028259.76   | 0.31%             | 2038-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH                                                      | PHILADELPHIA PA AU 5% 08/01/50 | CUSIP: 71780CAK6<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    375000 | PA      | $381845.96    | 0.02%             | 2050-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAMILTON CNTY OHIO                                                        | HAMILTON CNTY OH H 5% 08/15/33 | CUSIP: 407272Y80<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    380000 | PA      | $432358.49    | 0.02%             | 2033-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX ARIZ INDL DEV AUTH                                                | PHOENIX AZ INDL DE 5% 07/01/26 | CUSIP: 71885DCR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $207091.26    | 0.01%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX ARIZ INDL DEV AUTH                                                | PHOENIX AZ INDL DE 5% 07/01/32 | CUSIP: 71885DDW9<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |    300000 | PA      | $315082.02    | 0.02%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX ARIZ INDL DEV AUTH                                                | PHOENIX AZ INDL DE 5% 07/01/33 | CUSIP: 71885DDX7<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |    300000 | PA      | $313704.51    | 0.02%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX ARIZ INDL DEV AUTH                                                | PHOENIX AZ INDL DE 5% 07/01/34 | CUSIP: 71885DDY5<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |    300000 | PA      | $312163.29    | 0.02%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX ARIZ INDL DEV AUTH                                                | PHOENIX AZ INDL DE 5% 07/01/35 | CUSIP: 71885DDZ2<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |    350000 | PA      | $362600.95    | 0.02%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX ARIZ INDL DEV AUTH                                                | PHOENIX AZ INDL DE 5% 07/01/35 | CUSIP: 71885FEA1<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |   3655000 | PA      | $3674041.82   | 0.19%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX ARIZ INDL DEV AUTH                                                | PHOENIX AZ INDL DE 4% 07/01/26 | CUSIP: 71885FFC6<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |    300000 | PA      | $297630.90    | 0.02%             | 2026-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                                       | PUBLIC FIN AUTH WI 5% 07/01/52 | CUSIP: 74442ECC2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2002582.40   | 0.10%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN                               | SAN FRANCISCO CALI 5% 05/01/38 | CUSIP: 79766DLY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6442828.20   | 0.33%             | 2038-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VERMONT ECONOMIC DEV AUTH                                                 | VERMONT ST ECON DE 5% 05/01/25 | CUSIP: 92415TBK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    745000 | PA      | $750449.90    | 0.04%             | 2025-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VERMONT ECONOMIC DEV AUTH                                                 | VERMONT ST ECON DE 5% 05/01/26 | CUSIP: 92415TBL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $589485.43    | 0.03%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VERMONT EDL & HEALTH BLDGS FING AGY                                       | VERMONT ST EDUCTNL 5% 12/01/33 | CUSIP: 924166HV6<br>LEI: 549300ZC1ZW1EUIIV708 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2658507.00   | 0.14%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARFORD CNTY MD                                                           | HARFORD CNTY MD SP 4% 07/01/36 | CUSIP: 412516AM8<br>LEI: 549300BAMXA3G0J23I39 | Long             | DBT              | MUN               | US        |    550000 | PA      | $567413.33    | 0.03%             | 2036-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VICTOR CALIF ELEM SCH DIST CMNTY FACS DIST                                | VICTOR CA ELEM SCH 5% 09/01/46 | CUSIP: 925837EH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1117627.14   | 0.06%             | 2046-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VILLAGE CMNTY DEV DIST NO 6 FLA                                           | VLG FL CDD #6 SPL  4% 05/01/25 | CUSIP: 92707UAY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $72000.72     | 0.00%             | 2025-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEE CNTY FLA                                                              | LEE CNTY FL LOCAL  5% 08/01/41 | CUSIP: 52349LDU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1377293.25   | 0.07%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEEDS ALA PUB EDL BLDG AUTH EDL FACS                                      | LEEDS AL PUBLIC ED 4% 04/01/29 | CUSIP: 52421PBL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    930000 | PA      | $963690.55    | 0.05%             | 2029-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HARMONY CMNTY DEV DIST FLA                                                | HARMONY FL CDD  4.75% 05/01/25 | CUSIP: 413213AJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $180674.19    | 0.01%             | 2025-05-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| HIDALGO CNTY TEX REGL MOBILITY AUTH                                       | HIDALGO CNTY TX RE 4% 12/01/37 | CUSIP: 42934AAK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1447766.10   | 0.07%             | 2037-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VILLAMAR CMNTY DEV DIST FLA                                               | VILLAMAR CDD FL 3.75% 05/01/24 | CUSIP: 92715KAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $74523.30     | 0.00%             | 2024-05-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| VIRGINIA BEACH VA DEV AUTH                                                | VIRGINIA BEACH VA  5% 09/01/32 | CUSIP: 92774NAP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1570000 | PA      | $1604416.13   | 0.08%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEEDS ALA PUB EDL BLDG AUTH EDL FACS                                      | LEEDS AL PUBLIC ED 4% 04/01/30 | CUSIP: 52421PBM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    695000 | PA      | $719863.69    | 0.04%             | 2030-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEHIGH CNTY PA INDL DEV AUTH                                              | LEHIGH CNTY PA IND 3% 09/01/29 | CUSIP: 524808BY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3052122.60   | 0.16%             | 2029-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA BEACH VA DEV AUTH                                                | VIRGINIA BEACH VA  5% 09/01/35 | CUSIP: 92774NAT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1210000 | PA      | $1221676.62   | 0.06%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA BEACH VA DEV AUTH                                                | VIRGINIA BEACH VA  5% 09/01/36 | CUSIP: 92774NAU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $275651.97    | 0.01%             | 2036-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LENEXA KANS                                                               | LENEXA KS HLTH CAR 5% 05/15/26 | CUSIP: 526039DC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1045000 | PA      | $1062960.83   | 0.05%             | 2026-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LIBERTY HILL TEX INDPT SCH DIST                                           | LIBERTY HILL TX IN 5% 08/01/30 | CUSIP: 530574LU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $545055.85    | 0.03%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HILLSIDE ILL                                                              | HILLSIDE IL TAX IN 5% 01/01/24 | CUSIP: 432638AC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    170000 | PA      | $171033.75    | 0.01%             | 2024-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOLLYWOOD BEACH CMNTY DEV DIST                                            | HOLLYWOOD BEACH FL 5% 10/01/25 | CUSIP: 43612PAT1<br>LEI: 54930070G0CIEYSTT648 | Long             | DBT              | MUN               | US        |    495000 | PA      | $518676.25    | 0.03%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LIBERTY HILL TEX INDPT SCH DIST                                           | LIBERTY HILL TX IN 5% 02/01/36 | CUSIP: 530574RA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3795000 | PA      | $4430808.61   | 0.23%             | 2036-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LINCOLN CNTY MO PUB WTR SUPPLY DIST NO 1                                  | LINCOLN CNTY MO PU 4% 07/01/30 | CUSIP: 533251CT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $230330.74    | 0.01%             | 2030-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA                                             | VIRGINIA CLG BLDG  4% 06/01/36 | CUSIP: 92778FKN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $189595.98    | 0.01%             | 2036-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA                                             | VIRGINIA CLG BLDG  4% 06/01/46 | CUSIP: 92778FKQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $305224.57    | 0.02%             | 2046-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH                                         | VIRGINIA ST SMALL  4% 12/01/31 | CUSIP: 928103AQ3<br>LEI: 549300WZQTRG07G0UZ88 | Long             | DBT              | MUN               | US        |    750000 | PA      | $720238.73    | 0.04%             | 2031-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST PUB BLDG AUTH                                                 | VIRGINIA ST PUBLIC 5% 08/01/33 | CUSIP: 928172V28<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2124674.80   | 0.11%             | 2033-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LINCOLN CNTY MO PUB WTR SUPPLY DIST NO 1                                  | LINCOLN CNTY MO PU 4% 07/01/31 | CUSIP: 533251CU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $434304.02    | 0.02%             | 2031-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LINCOLN CNTY MO PUB WTR SUPPLY DIST NO 1                                  | LINCOLN CNTY MO PU 4% 07/01/38 | CUSIP: 533251CV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009677.10   | 0.05%             | 2038-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HOLLYWOOD BEACH CMNTY DEV DIST                                            | HOLLYWOOD BEACH FL 5% 10/01/27 | CUSIP: 43612PAV6<br>LEI: 54930070G0CIEYSTT648 | Long             | DBT              | MUN               | US        |    545000 | PA      | $587008.60    | 0.03%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TEX CMNTY COLLEGE SYS                                             | HOUSTON TX CMNTY C 4% 02/15/37 | CUSIP: 44236PJV1<br>LEI: 549300UWXV516I6N3V90 | Long             | DBT              | MUN               | US        |   1730000 | PA      | $1757888.98   | 0.09%             | 2037-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LONG IS PWR AUTH N Y                                                      | LONG ISLAND NY PWR 5% 09/01/35 | CUSIP: 542691DF4<br>LEI: 1R46U5SYJ63KQXF39168 | Long             | DBT              | MUN               | US        |    350000 | PA      | $402479.46    | 0.02%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                           | NEW JERSEY ST TRAN 5% 06/15/33 | CUSIP: 6461365E7<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1105855.50   | 0.06%             | 2033-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST RES AUTH                                                      | VIRGINIA ST RESOUR 4% 11/01/33 | CUSIP: 92818MAS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1050385.90   | 0.05%             | 2033-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRIDIAN MUN MGMT DIST TEX                                                | VIRIDIAN TX MUNI M 6% 12/01/26 | CUSIP: 92823PAR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $530201.30    | 0.03%             | 2026-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TEX                                                               | HOUSTON TX HOTEL O 5% 09/01/32 | CUSIP: 44237NKZ4<br>LEI: 549300C64URYS0WQQY42 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1112410.50   | 0.06%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TEX                                                               | HOUSTON TX UTILITY 5% 11/15/29 | CUSIP: 44244CCK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1069760.40   | 0.06%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                           | NEW JERSEY ST TRAN 5% 12/15/28 | CUSIP: 6461366E6<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1972268.38   | 0.10%             | 2028-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                           | NEW JERSEY ST TRAN 5% 12/15/39 | CUSIP: 6461366M8<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    140000 | PA      | $149125.06    | 0.01%             | 2039-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRIDIAN MUN MGMT DIST TEX                                                | VIRIDIAN TX MUNI M 5% 12/01/26 | CUSIP: 92823PCX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $127665.74    | 0.01%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRIDIAN MUN MGMT DIST TEX                                                | VIRIDIAN TX MUNI M 5% 12/01/26 | CUSIP: 92823PDU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $158305.51    | 0.01%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y                                                              | NEW YORK NY 4% 10/01/40        | CUSIP: 64966QFP0<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   5690000 | PA      | $5729555.17   | 0.30%             | 2040-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                                       | PUBLIC FIN AUTH WI 4% 07/01/51 | CUSIP: 74442EGU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1662973.20   | 0.09%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VOLUSIA CNTY FLA EDL FAC AUTH                                             | VOLUSIA CNTY FL ED 4% 10/15/37 | CUSIP: 928836NA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $506497.85    | 0.03%             | 2037-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WEATHERFORD OKLA INDL TR EDL FACS                                         | WEATHERFORD OK IND 5% 03/01/31 | CUSIP: 947084AN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1123645.70   | 0.06%             | 2031-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HUDSON YDS INFRASTRUCTURE CORP N Y                                        | HUDSON YARDS INFRA 5% 02/15/38 | CUSIP: 44420RBC3<br>LEI: 549300EE2HJ67TPURL87 | Long             | DBT              | MUN               | US        |    495000 | PA      | $535371.01    | 0.03%             | 2038-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HUNTERS OVERLOOK MET DIST NO 5 COLO                                       | HUNTERS OVERLOOK M 5% 12/01/49 | CUSIP: 445788AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2735000 | PA      | $2541320.70   | 0.13%             | 2049-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                                       | PUBLIC FIN AUTH WI 4% 06/15/41 | CUSIP: 74442EHP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1275000 | PA      | $1116243.76   | 0.06%             | 2041-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                                       | PUBLIC FIN AUTH WI 4% 06/01/37 | CUSIP: 74442PSU0<br>LEI: 549300NX92YT0D3RWC98 | Long             | DBT              | MUN               | US        |    600000 | PA      | $584988.12    | 0.03%             | 2037-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WEST CORNWALL TWP PA MUN AUTH                                             | W CORNWALL TWP PA  4% 11/15/29 | CUSIP: 95235TAN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $130163.99    | 0.01%             | 2029-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| YAVAPAI CNTY ARIZ JAIL DIST                                               | YAVAPAI CNTY AZ JA 4% 07/01/32 | CUSIP: 98521SAX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1030000 | PA      | $1115502.05   | 0.06%             | 2032-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                                       | PUBLIC FIN AUTH WI 4% 06/01/38 | CUSIP: 74442PSV8<br>LEI: 549300NX92YT0D3RWC98 | Long             | DBT              | MUN               | US        |    535000 | PA      | $517303.38    | 0.03%             | 2038-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                                       | PUBLIC FIN AUTH WI 4% 03/31/56 | CUSIP: 74442PTG0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1633458.20   | 0.08%             | 2056-03-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                                       | PUBLIC FIN AUTH  6.5% 01/01/41 | CUSIP: 74442PVP7<br>LEI: 549300NX92YT0D3RWC98 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1227713.10   | 0.06%             | 2041-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                                       | PUBLIC FIN AUTH WI 5% 10/01/43 | CUSIP: 74444VAF7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $892156.20    | 0.05%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JEA FLA                                                                   | JEA FL ELEC SYS RE 4% 10/01/35 | CUSIP: 46613SQY9<br>LEI: FTZJK89L6NCYPIPKZN93 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6280594.20   | 0.32%             | 2035-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LAKEWOOD RANCH STEWARDSHIP DIST FLA                                       | LAKEWOOD RANCH F 4.5% 05/01/26 | CUSIP: 51265KDD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $162637.61    | 0.01%             | 2026-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                                       | PUBLIC FIN AUTH WI 5% 09/01/49 | CUSIP: 74444VAR1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1170203.94   | 0.06%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                                       | PUBLIC FIN AUTH WI 5% 06/15/34 | CUSIP: 74445GAN2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    425000 | PA      | $450992.32    | 0.02%             | 2034-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAMMERSVILLE CALIF JT UNI SCH DIST                                        | LAMMERSVILLE CA JT 4% 09/01/49 | CUSIP: 513533FB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1045000 | PA      | $945884.36    | 0.05%             | 2049-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LARIMER WELD & BOULDER CNTYS COLO SCH DIST NO R-2J THOMPSON               | LARIMER WELD & BOU 5% 12/15/30 | CUSIP: 517210XB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $345950.46    | 0.02%             | 2030-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP                                           | PUERTO RICO SALES ZCP 07/01/31 | CUSIP: 74529JQE8<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |   1536000 | PA      | $1036456.24   | 0.05%             | 2031-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP                                           | PUERTO RICO SA 4.329% 07/01/40 | CUSIP: 74529JRH0<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3359379.10   | 0.17%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| RAILSPLITTER TOB SETTLEMENT AUTH                                          | RAILSPLITTER IL TO 5% 06/01/26 | CUSIP: 75076PAY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $156480.04    | 0.01%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RANCHO CORDOVA CMNTY FACS DIST CALIF                                      | RANCHO CORDOVA CA  5% 09/01/26 | CUSIP: 75211RKU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $117676.66    | 0.01%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS NEV SPL IMPT DIST NO 816                                        | LAS VEGAS NV SP 2.25% 06/01/27 | CUSIP: 51779AAF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $225878.15    | 0.01%             | 2027-06-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS NEV SPL IMPT DIST NO 816                                        | LAS VEGAS NV SPL 2.5% 06/01/28 | CUSIP: 51779AAG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $222554.60    | 0.01%             | 2028-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| RANCHO CORDOVA CMNTY FACS DIST CALIF                                      | RANCHO CORDOVA CA  4% 09/01/50 | CUSIP: 75211RME4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $182276.54    | 0.01%             | 2050-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RENO NEV                                                                  | RENO NV CAPITAL IM 5% 06/01/29 | CUSIP: 759831CR9<br>LEI: 549300M4R5WWSUWY8D52 | Long             | DBT              | MUN               | US        |    300000 | PA      | $328261.92    | 0.02%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RENO NEV                                                                  | RENO NV CAPITAL IM 5% 06/01/30 | CUSIP: 759831CS7<br>LEI: 549300M4R5WWSUWY8D52 | Long             | DBT              | MUN               | US        |    950000 | PA      | $1037462.89   | 0.05%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RIVERSIDE CALIF UNI SCH DIST                                              | RIVERSIDE CA UNIF  4% 09/01/28 | CUSIP: 769069N50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $229889.81    | 0.01%             | 2028-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RIVINGTON CMNTY DEV DIST FLA                                              | RIVINGTON CDD  2.875% 05/01/25 | CUSIP: 769656AA7<br>LEI: 254900WIKD77NGI97408 | Long             | DBT              | MUN               | US        |    305000 | PA      | $294463.62    | 0.02%             | 2025-05-01      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| ROCKLIN CALIF UNI SCH DIST CMNTY FACS DIST                                | ROCKLIN CA UNIF SC 4% 09/15/35 | CUSIP: 773756JY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $657839.44    | 0.03%             | 2035-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS VALLEY NEV WTR DIST                                             | LAS VEGAS VLY NV W 5% 06/01/46 | CUSIP: 517845AX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1230000 | PA      | $1294341.55   | 0.07%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LATROBE PA INDL DEV AUTH                                                  | LATROBE PA INDL DE 4% 03/01/46 | CUSIP: 518324AU2<br>LEI: 5493008FA05J2R0XCZ14 | Long             | DBT              | MUN               | US        |    750000 | PA      | $630860.18    | 0.03%             | 2046-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LATROBE PA INDL DEV AUTH                                                  | LATROBE PA INDL DE 4% 03/01/51 | CUSIP: 518324AV0<br>LEI: 5493008FA05J2R0XCZ14 | Long             | DBT              | MUN               | US        |   2415000 | PA      | $1963954.07   | 0.10%             | 2051-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ST JOHNS CNTY FLA INDL DEV AUTH                                           | SAINT JOHNS CNTY F 4% 12/15/41 | CUSIP: 79041LAN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1175000 | PA      | $950535.52    | 0.05%             | 2041-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ST PAUL MINN HSG & REDEV AUTH                                             | SAINT PAUL MN HSG  5% 07/01/32 | CUSIP: 792905DG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4177960.80   | 0.22%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TEX                                                           | SAN ANTONIO TX WTR 5% 05/15/38 | CUSIP: 79642GGT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2010000 | PA      | $2250316.40   | 0.12%             | 2038-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CNTY CALIF REGL ARPT AUTH                                       | SAN DIEGO CNTY CA  5% 07/01/30 | CUSIP: 79739GEN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    945000 | PA      | $953902.94    | 0.05%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CNTY CALIF REGL ARPT AUTH                                       | SAN DIEGO CNTY CA  5% 07/01/46 | CUSIP: 79739GNU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2121326.20   | 0.11%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UAB MEDICINE FIN AUTH ALA                                                 | UAB MEDICINE FIN A 5% 09/01/41 | CUSIP: 902562CJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5236706.50   | 0.27%             | 2041-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UCF STAD CORP FLA                                                         | UCF STADIUM CORP F 5% 03/01/24 | CUSIP: 90350TAJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101998.58    | 0.01%             | 2024-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNION CNTY ORE HOSP FAC AUTH                                              | UNION CNTY OR HOSP 5% 07/01/47 | CUSIP: 906420CH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1032101.40   | 0.05%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY CENT ARK                                                       | UNIV OF CENTRAL AR 5% 11/01/34 | CUSIP: 914115M56<br>LEI: 549300FFADBQ3NEI2D96 | Long             | DBT              | MUN               | US        |    350000 | PA      | $375913.34    | 0.02%             | 2034-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY CONN                                                           | UNIV OF CONNECTICU 5% 11/01/36 | CUSIP: 914233U82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1658830.05   | 0.09%             | 2036-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY CONN                                                           | UNIV OF CONNECTICU 5% 02/15/41 | CUSIP: 914233Z53<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3730000 | PA      | $4118433.62   | 0.21%             | 2041-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY HOUSTON TEX                                                    | UNIV OF HOUSTON TX 5% 02/15/26 | CUSIP: 914302CC6<br>LEI: 549300M19XU6IJMM4C45 | Long             | DBT              | MUN               | US        |    150000 | PA      | $162262.14    | 0.01%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AUSTIN TEX                                                                | AUSTIN TX ARPT SYS 5% 11/15/35 | CUSIP: 052398HL1<br>LEI: IW10PQVTU7HKS3JMW253 | Long             | DBT              | MUN               | US        |    350000 | PA      | $392011.45    | 0.02%             | 2035-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BROOKSTONE CMNTY DEV DIST FLA                                             | BROOKSTONE CDD 3.875% 11/01/23 | CUSIP: 114534AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $94748.21     | 0.00%             | 2023-11-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| BROWARD CNTY FLA                                                          | BROWARD CNTY FL AR 5% 10/01/38 | CUSIP: 114894YP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2725000 | PA      | $2927999.97   | 0.15%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUCKS CNTY PA INDL DEV AUTH                                               | BUCKS CNTY PA INDL 5% 10/01/32 | CUSIP: 118612MT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1185000 | PA      | $1204619.69   | 0.06%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUCKS CNTY PA INDL DEV AUTH                                               | BUCKS CNTY PA INDL 4% 08/15/38 | CUSIP: 11861MAM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    735000 | PA      | $735483.63    | 0.04%             | 2038-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BUCKS CNTY PA INDL DEV AUTH                                               | BUCKS CNTY PA INDL 4% 08/15/44 | CUSIP: 11861MAP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1000320.93   | 0.05%             | 2044-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BUILD NYC RESOURCE CORP N Y                                               | BUILD NYC RESOURCE 5% 07/01/42 | CUSIP: 12008ETW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2109883.40   | 0.11%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHERN PALM BEACH CNTY IMPT DIST FLA                                    | NTHRN PALM BEACH C 5% 08/01/37 | CUSIP: 665588SC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    355000 | PA      | $357124.46    | 0.02%             | 2037-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST AIR QUALITY DEV AUTH                                              | OHIO ST AIR QUALI V/R 09/01/30 | CUSIP: 677525WU7<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2046211.40   | 0.11%             | 2030-09-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA CNTY OKLA FIN AUTH                                               | OKLAHOMA CNTY OK F 5% 10/01/26 | CUSIP: 67868UFX6<br>LEI: 549300KPR05JUN0F1289 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1084768.60   | 0.06%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA DEV FIN AUTH                                                     | OKLAHOMA ST DEV 7.25% 09/01/51 | CUSIP: 6789083V4<br>LEI: 549300PXGPHUWC32DJ91 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6298311.00   | 0.32%             | 2051-09-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ONONDAGA CNTY N Y                                                         | ONONDAGA CNTY NY T 5% 12/01/39 | CUSIP: 68276FDL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2238996.60   | 0.12%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PARKLAND PA SCH DIST                                                      | PARKLAND PA SCH DI 4% 02/01/34 | CUSIP: 701383A84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $215113.54    | 0.01%             | 2034-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PARKLAND PA SCH DIST                                                      | PARKLAND PA SCH DI 4% 02/01/35 | CUSIP: 701383A92<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $320264.76    | 0.02%             | 2035-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BALTIMORE CNTY MD                                                         | BALTIMORE CNTY MD  4% 01/01/38 | CUSIP: 059151DF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $701391.95    | 0.04%             | 2038-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BALTIMORE MD                                                              | BALTIMORE MD SPL O 5% 09/01/38 | CUSIP: 05923TBY4<br>LEI: 5493006QYFB72E0IOO54 | Long             | DBT              | MUN               | US        |   2020000 | PA      | $2048692.89   | 0.11%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BERRY BAY CMNTY DEV DIST FLA                                              | BERRY BAY CDD FL S 4% 05/01/51 | CUSIP: 08577CAD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $997038.25    | 0.05%             | 2051-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BEXLEY CMNTY DEV DIST FLA                                                 | BEXLEY CDD FL SP 4.1% 05/01/26 | CUSIP: 088570AB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $199336.02    | 0.01%             | 2026-05-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| BRIDGETON MO                                                              | BRIDGETON MO SPL O 4% 12/01/30 | CUSIP: 108471AK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    285000 | PA      | $306978.80    | 0.02%             | 2030-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BUTLER CNTY OHIO PORT AUTH                                                | BUTLER CNTY OH POR 4% 05/15/46 | CUSIP: 12355RAP1<br>LEI: 549300LIKUQ3LQUKO260 | Long             | DBT              | MUN               | US        |    370000 | PA      | $363464.25    | 0.02%             | 2046-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH WEST HENDRICKS MULTI-SCH BLDG CORP IND                              | N W HENDRICKS IN M 4% 07/15/30 | CUSIP: 66328RDF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $589442.26    | 0.03%             | 2030-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST AIR QUALITY DEV AUTH                                              | OHIO ST AIR QUALI V/R 12/01/38 | CUSIP: 677525WG8<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2278576.50   | 0.12%             | 2038-12-01      | Variable      | 2.40%                 | No            |                  2 | On Loan: No      |
| PARK CREEK MET DIST COLO                                                  | PARK CREEK CO MET  5% 12/01/35 | CUSIP: 700387DK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $162089.67    | 0.01%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECONOMIC DEV FING AUTH                                       | PENNSYLVANIA ST EC 4% 03/15/40 | CUSIP: 70869PKW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $49894.80     | 0.00%             | 2040-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHATTANOOGA TENN HEALTH EDL & HSG FAC BRD                                 | CHATTANOOGA TN HLT 4% 08/01/37 | CUSIP: 162410EJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $199894.76    | 0.01%             | 2037-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHATTANOOGA TENN HEALTH EDL & HSG FAC BRD                                 | CHATTANOOGA TN HLT 5% 08/01/34 | CUSIP: 162410EY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $900255.84    | 0.05%             | 2034-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHATTANOOGA TENN HEALTH EDL & HSG FAC BRD                                 | CHATTANOOGA TN HLT 5% 08/01/44 | CUSIP: 162410FE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2604001.25   | 0.13%             | 2044-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHESAPEAKE VA HOSP AUTH                                                   | CHESAPEAKE VA HOSP 4% 07/01/35 | CUSIP: 16532VBL7<br>LEI: 549300MDFV8QY288K198 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031825.70   | 0.05%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHESTER CNTY PA INDL DEV AUTH                                             | CHESTER CNTY PA IN 5% 10/01/34 | CUSIP: 165588CX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    765000 | PA      | $771694.44    | 0.04%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL                                                               | CHICAGO IL 5% 01/01/27         | CUSIP: 167486D30<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   2060000 | PA      | $2155735.00   | 0.11%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL                                                               | CHICAGO IL ZCP 01/01/24        | CUSIP: 167486DD8<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    145000 | PA      | $140382.27    | 0.01%             | 2024-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL                                                               | CHICAGO IL ZCP 01/01/25        | CUSIP: 167486DF3<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    125000 | PA      | $116807.50    | 0.01%             | 2025-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL                                                               | CHICAGO IL 5% 01/01/35         | CUSIP: 167486N96<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   2600000 | PA      | $2791233.12   | 0.14%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL                                                               | CHICAGO IL 5% 01/01/27         | CUSIP: 167486SP5<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    185000 | PA      | $186290.08    | 0.01%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL                                                               | CHICAGO IL 5% 01/01/35         | CUSIP: 167486SV2<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1155000 | PA      | $1157537.42   | 0.06%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL                                                               | CHICAGO IL MF H 5.25% 01/01/29 | CUSIP: 167486VD8<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    450000 | PA      | $461501.46    | 0.02%             | 2029-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL                                                               | CHICAGO IL 5% 01/01/25         | CUSIP: 167486WX3<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    500000 | PA      | $512110.60    | 0.03%             | 2025-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL                                                               | CHICAGO IL 5% 01/01/26         | CUSIP: 167486WY1<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    645000 | PA      | $668108.22    | 0.03%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHILLICOTHE OHIO CITY SCH DIST                                            | CHILLICOTHE OH CIT 4% 12/01/31 | CUSIP: 169196LR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031711.70   | 0.05%             | 2031-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HAMILTON CNTY OHIO                                                        | HAMILTON CNTY OH H 4% 09/15/50 | CUSIP: 407272Y31<br>LEI: 549300TO1E3N4E4YIO28 | Long             | DBT              | MUN               | US        |   2100000 | PA      | $1898475.60   | 0.10%             | 2050-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HAMILTON CNTY OHIO                                                        | HAMILTON CNTY OH H 5% 08/15/32 | CUSIP: 407272Y72<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $285355.53    | 0.01%             | 2032-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY ARIZ INDL DEV AUTH                                          | MARICOPA CNTY AZ I 4% 07/01/26 | CUSIP: 56681NAV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $397217.36    | 0.02%             | 2026-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY ARIZ INDL DEV AUTH                                          | MARICOPA CNTY AZ I 5% 07/01/39 | CUSIP: 56681NEM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1101745.59   | 0.06%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY ARIZ INDL DEV AUTH                                          | MARICOPA CNTY AZ I 5% 07/01/49 | CUSIP: 56681NEN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $946698.70    | 0.05%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY ARIZ INDL DEV AUTH                                          | MARICOPA CNTY AZ I 4% 07/01/30 | CUSIP: 56681NFG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    830000 | PA      | $857434.24    | 0.04%             | 2030-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY ARIZ INDL DEV AUTH                                          | MARICOPA CNTY AZ I 4% 07/01/31 | CUSIP: 56681NFH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    435000 | PA      | $448071.18    | 0.02%             | 2031-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY ARIZ INDL DEV AUTH                                          | MARICOPA CNTY AZ I 4% 07/01/32 | CUSIP: 56681NFJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $462751.88    | 0.02%             | 2032-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-28

**Name of Applicant:** First Trust Exchange-Traded Fund III

**Signature:** Donald P. Swade

**Name of Signer:** First Trust Exchange-Traded Fund III

**Title:** Treasurer, Chief Financial Officer and Chief Accounting Officer