# EDGAR Filing Document

**Accession Number:** 0001817159
**File Stem:** 0001752724-23-048394
**Filing Date:** 2023-3
**Character Count:** 57510
**Document Hash:** c65bcb1b3dc605fc0fe519afed9b325c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-048394.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0001752724-23-048394

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230228

**PERIOD START**: 20230630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RiverNorth Flexible Municipal Income Fund II, Inc.
- **CENTRAL INDEX KEY:** 0001817159
- **IRS NUMBER:** 851659170
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23586
- **FILM NUMBER:** 23688143

**BUSINESS ADDRESS:**
- **STREET 1:** 360 S. ROSEMARY AVE
- **STREET 2:** SUITE 1420
- **CITY:** WEST PALM BEACH
- **STATE:** FL
- **ZIP:** 33401
- **BUSINESS PHONE:** 312-445-2251

**MAIL ADDRESS:**
- **STREET 1:** 360 S. ROSEMARY AVE
- **STREET 2:** SUITE 1420
- **CITY:** WEST PALM BEACH
- **STATE:** FL
- **ZIP:** 33401

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** RiverNorth Flexible Municipal Income Fund II Inc.

- **b. Investment Company Act file number:** 811-23586

- **c. CIK number of Registrant:** 0001817159

- **d. LEI of Registrant:** 549300U301TLYWQNC025

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

  - **Street Address 1:** 325 N LASALLE ST. SUITE 645

  - **City:** CHICAGO

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60654

  - **Telephone number:** 312-832-1440

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

- **a. Name of Series:** RiverNorth Flexible Municipal Income Fund II Inc.

- **c. LEI of Series:** 549300U301TLYWQNC025

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

- **a. Date of fiscal year-end:** 2023-06-30

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $383782613.10

**Total Liabilities:** $6937571.49

**Net Assets:** $376845041.61

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 9002.52181700 | **5-Year:** 107301.49329100 | **10-Year:** 233568.80885400 | **30-Year:** 36070.71339600

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 2318.49547600

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | -2.56%               | 10.00%               | -2.77%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-8201666.63             | $-5847466.28                               |
| Month 2  | $-9140959.61             | $48207364.27                               |
| Month 3  | $-7213938.19             | $1922723.63                                |

**Designated Index Information**

- **Index Name:** Securities Portfolio VaR

- **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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Tender Option Bond Trust Receipts / Ctfs                   | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035DZF5<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -4500000 | PA      | $-4500000.00   | -1.19%            | 2028-08-15      | Floating      | 3.69%                 | Yes           |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States    | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035AV73<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -4000000 | PA      | $-4000000.00   | -1.06%            | 2030-01-01      | Floating      | 3.73%                 | Yes           |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States    | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035AU58<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -8840000 | PA      | $-8840000.00   | -2.35%            | 2030-05-15      | Floating      | 3.69%                 | Yes           |                  2 | On Loan: No      |
| Blackrock Municipal Income Trust                           | BlackRock Municipal Income Trust                                             | CUSIP: 09248F109<br>LEI: R3ITLLW1CUEQICP4XR90 | Long             | EC               | RF                | US        |    490892 | NS      | $4938373.52    | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| New York St Dorm Auth St Personal Income Tax Revenue       | New York State Dormitory Authority                                           | CUSIP: 64990FX25<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   7650000 | PA      | $8281379.75    | 2.20%             | 2041-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States    | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035AZA2<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -6000000 | PA      | $-6000000.00   | -1.59%            | 2051-07-01      | Floating      | 3.69%                 | Yes           |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs                   | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035DVM4<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -6000000 | PA      | $-6000000.00   | -1.59%            | 2030-05-15      | Floating      | 3.72%                 | Yes           |                  2 | On Loan: No      |
| Joliet Il                                                  | City of Joliet IL                                                            | CUSIP: 479754NR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5611559.00    | 1.49%             | 2044-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Salt Lake City Ut Arpt Revenue                             | City of Salt Lake City UT Airport Revenue                                    | CUSIP: 795576FY8<br>LEI: 549300CRGKV67DRSGT85 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2513544.75    | 0.67%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States    | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035AB75<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -5600000 | PA      | $-5600000.00   | -1.49%            | 2023-10-22      | Floating      | 3.81%                 | Yes           |                  2 | On Loan: No      |
| Blackrock Muniholdings Fund Inc                            | BlackRock MuniHoldings Fund, Inc.                                            | CUSIP: 09253N104<br>LEI: MZBVMGS24JR92TGE6Z32 | Long             | EC               | RF                | US        |    620940 | NS      | $7538211.60    | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States    | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035AR37<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -8000000 | PA      | $-8000000.00   | -2.12%            | 2026-03-01      | Floating      | 3.69%                 | Yes           |                  2 | On Loan: No      |
| Invesco Municipal Opportunity Trust                        | Invesco Municipal Opportunity Trust                                          | CUSIP: 46132C107<br>LEI: WERC5RXCUSU16MOTZ848 | Long             | EC               | RF                | US        |     60176 | NS      | $596344.16     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Muniholdings California Quality Fund Inc         | BlackRock MuniHoldings California Quality Fund, Inc.                         | CUSIP: 09254L107<br>LEI: NKJSRCJXMS5PZYPXY795 | Long             | EC               | RF                | US        |    428841 | NS      | $4605752.34    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States    | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035AQ95<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -9600000 | PA      | $-9600000.00   | -2.55%            | 2044-05-01      | Floating      | 3.16%                 | Yes           |                  2 | On Loan: No      |
| Blackrock Muniyield Quality Fund Ii Inc                    | BlackRock MuniYield Quality Fund II, Inc.                                    | CUSIP: 09254G108<br>LEI: PRQP520S3DVB025IWS24 | Long             | EC               | RF                | US        |    134373 | NS      | $1373292.06    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Liquidity Funds Municash                         | BlackRock Liquidity Funds MuniCash                                           | CUSIP: 09248U841<br>LEI: 549300RWBJ885673DL84 | Long             | STIV             | RF                | US        |  27500843 | NS      | $27498092.84   | 7.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Muniyield New York Quality Fund Inc              | BlackRock MuniYield New York Quality Fund, Inc.                              | CUSIP: 09255E102<br>LEI: 158AYFGDRFUGVL3TD012 | Long             | EC               | RF                | US        |     58301 | NS      | $571349.80     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| California Stwd Cmntys Dev Auth Revenue                    | California Statewide Communities Development Authority                       | CUSIP: 13080SML5<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   2615000 | PA      | $2592655.35    | 0.69%             | 2056-12-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States    | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035AQR5<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -8000000 | PA      | $-8000000.00   | -2.12%            | 2028-06-15      | Floating      | 3.69%                 | Yes           |                  2 | On Loan: No      |
| Chicago Board of Trade                                     | US Long Bond Future                                                          | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | N/A              | DIR              | CORP              | US        |      -675 | NC      | $-84607031.25  | -22.45%           |  |  |  | No            |                  1 | On Loan: No      |
| Nuveen Municipal Credit Income Fund                        | Nuveen Dividend Advantage Municipal Fund 3                                   | CUSIP: 67070X101<br>LEI: 54930078DL3R0VSYW338 | Long             | EC               | RF                | US        |    391130 | NS      | $4724850.40    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States    | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035AZ46<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -6400000 | PA      | $-6400000.00   | -1.70%            | 2046-07-01      | Floating      | 3.71%                 | Yes           |                  2 | On Loan: No      |
| Massachusetts St Sch Bldg Auth Sales Tax Revenue           | Massachusetts School Building Authority                                      | CUSIP: 576000YW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6468084.00    | 1.72%             | 2045-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Matching Fund Spl Purpose Securitiztn Corp                 | Matching Fund Special Purpose Securitization Corp.                           | CUSIP: 57665NAF2<br>LEI: N/A                  | Long             | DBT              | MUN               | VI        |    705000 | PA      | $731379.55     | 0.19%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States    | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035AFX4<br>LEI: N/A                  | Short            | DBT              | MUN               | US        | -10000000 | PA      | $-10000000.00  | -2.65%            | 2030-01-01      | Floating      | 3.78%                 | Yes           |                  2 | On Loan: No      |
| Blackrock Muniyield Quality Fund Iii Inc                   | BlackRock MuniYield Quality Fund III, Inc.                                   | CUSIP: 09254E103<br>LEI: UB5J2GS6Q51M6A2L8886 | Long             | EC               | RF                | US        |    195820 | NS      | $2195142.20    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Mfs Investment Grade Municipal Trust                       | MFS Investment Grade Municipal Trust                                         | CUSIP: 59318B108<br>LEI: TQV30XJRB3S7V50XRW52 | Long             | EC               | RF                | US        |    165325 | NS      | $1177114.00    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs                   | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: N/A<br>LEI: N/A                        | Short            | DBT              | MUN               | US        | -11200000 | PA      | $-11200000.00  | -2.97%            | 2051-05-15      | Floating      | 3.74%                 | Yes           |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States    | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035EBS1<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -6000000 | PA      | $-6000000.00   | -1.59%            | 2052-12-01      | Floating      | 3.78%                 | Yes           |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States    | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035ALD1<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -9635000 | PA      | $-9635000.00   | -2.56%            | 2025-07-01      | Floating      | 3.72%                 | Yes           |                  2 | On Loan: No      |
| Washington St Convention Center Public Facs Dist           | Washington State Convention Center Public Facilities District                | CUSIP: 93976AEE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1065000 | PA      | $1030697.31    | 0.27%             | 2034-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Fing Corp Sales Tax Revenue          | Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                      | CUSIP: 74529JRL1<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | PR        |   3500000 | PA      | $3045315.70    | 0.81%             | 2058-07-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| Blackrock Munivest Fund Ii Inc                             | BlackRock MuniVest Fund II, Inc.                                             | CUSIP: 09253T101<br>LEI: TC1SINW7C50S8NN8GU32 | Long             | EC               | RF                | US        |    526879 | NS      | $5505885.55    | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Greater Clark In Bldg Corp                                 | Greater Clark Building Corp.                                                 | CUSIP: 39167GJT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4250000 | PA      | $5085318.80    | 1.35%             | 2042-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Sacramento Ca Wtr Revenue                                  | City of Sacramento CA Water Revenue                                          | CUSIP: 786089HY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10828820.00   | 2.87%             | 2047-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs                   | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035DDD4<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -3600000 | PA      | $-3600000.00   | -0.96%            | 2047-08-01      | Floating      | 3.69%                 | Yes           |                  2 | On Loan: No      |
| Eaton Vance California Municipal Bond Fund                 | Eaton Vance California Municipal Bond Fund                                   | CUSIP: 27828A100<br>LEI: 549300FJGD8HWP11TO17 | Long             | EC               | RF                | US        |     30508 | NS      | $263589.12     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| San Antonio Tx Elec & Gas Revenue                          | City of San Antonio TX Electric & Gas Systems Revenue                        | CUSIP: 79625GDV2<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |   9000000 | PA      | $9641378.70    | 2.56%             | 2046-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Invesco Trust For Investment Grade Municipals              | Invesco Trust for Investment Grade Municipals                                | CUSIP: 46131M106<br>LEI: V0VF67S6NRLBDK357F71 | Long             | EC               | RF                | US        |    795303 | NS      | $7992795.15    | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Los Angeles Ca Dept Of Arpts Arpt Revenue                  | City of Los Angeles Department of Airports                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | MUN               | US        |  14000000 | PA      | $14260257.20   | 3.78%             | 2051-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Blackrock Muniholdings Quality Fund Ii Inc                 | BlackRock MuniHoldings Quality Fund II, Inc.                                 | CUSIP: 09254C107<br>LEI: V04K6JK5YHD4O5SHSC34 | Long             | EC               | RF                | US        |    142130 | NS      | $1414193.50    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Hawaii St Arpts Sys Revenue                                | State of Hawaii Airports System Revenue                                      | CUSIP: 419794A51<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  15000000 | PA      | $15192139.50   | 4.03%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bny Mellon Strategic Municipals Inc                        | BNY Mellon Strategic Municipals, Inc.                                        | CUSIP: 05588W108<br>LEI: 549300FH0LKMOBY7N332 | Long             | EC               | RF                | US        |     58312 | NS      | $356286.32     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Sacramento City Ca Unif Sch Dist                           | Sacramento City Unified School District                                      | CUSIP: 785870E85<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $5045177.70    | 1.34%             | 2047-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Bourbonnais Il                                             | Village of Bourbonnais IL                                                    | CUSIP: 102014EW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1091316.80    | 0.29%             | 2046-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Grant Cnty Wa                                              | County of Grant WA                                                           | CUSIP: 387802FN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10976448.00   | 2.91%             | 2057-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs                   | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035DBS3<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -5250000 | PA      | $-5250000.00   | -1.39%            | 2047-08-01      | Floating      | 3.76%                 | Yes           |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States    | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035ATY7<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -6400000 | PA      | $-6400000.00   | -1.70%            | 2047-05-15      | Floating      | 3.69%                 | Yes           |                  2 | On Loan: No      |
| Massachusetts St Port Auth                                 | Massachusetts Port Authority                                                 | CUSIP: 575896RR8<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |  12045000 | PA      | $12257800.22   | 3.25%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States    | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88034YT67<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -5400000 | PA      | $-5400000.00   | -1.43%            | 2047-09-01      | Floating      | 3.71%                 | Yes           |                  2 | On Loan: No      |
| Blackrock Muniyield Quality Fund Inc                       | BlackRock MuniYield Quality Fund, Inc.                                       | CUSIP: 09254F100<br>LEI: TFKEE3VA3GBE5LOK5U77 | Long             | EC               | RF                | US        |    343515 | NS      | $3984774.00    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Il O'hare International Arpt Revenue               | Chicago O'Hare International Airport                                         | CUSIP: 167593X56<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  15000000 | PA      | $15723367.50   | 4.17%             | 2045-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Blackrock Muniholdings New Jersey Quality Fund Inc         | BlackRock MuniHoldings New Jersey Quality Fund, Inc.                         | CUSIP: 09254X101<br>LEI: FDX8Y56FK6PN1WE5XX39 | Long             | EC               | RF                | US        |     50000 | NS      | $553500.00     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuveen Municipal Value Fund Inc                            | Nuveen Municipal Value Fund, Inc.                                            | CUSIP: 670928100<br>LEI: 549300TFLBQ7LJSP8B20 | Long             | EC               | RF                | US        |   1162901 | NS      | $10000948.60   | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Mesa Az Utility Sys Revenue                                | City of Mesa AZ Utility System Revenue                                       | CUSIP: 590545W54<br>LEI: 549300L1QYAKFHSIGE94 | Long             | DBT              | MUN               | US        |   8000000 | PA      | $8699276.00    | 2.31%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Univ Of California Ca Rgts Med Center Pooled Revenue       | Regents of the University of California Medical Center Pooled Revenue        | CUSIP: 913366KS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8000000 | PA      | $8629608.80    | 2.29%             | 2047-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Invesco Advantage Municipal Income Trust Ii                | Invesco Advantage Municipal Income Trust II                                  | CUSIP: 46132E103<br>LEI: DA89O2CSN0WUDR74HM71 | Long             | EC               | RF                | US        |    181637 | NS      | $1560261.83    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock California Municipal Income Trust                | BlackRock California Municipal Income Trust                                  | CUSIP: 09248E102<br>LEI: LE6236HQD6DXEGUHE217 | Long             | EC               | RF                | US        |    734081 | NS      | $7950097.23    | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Wstrn Mi Sch Dist                                          | Western School District                                                      | CUSIP: 959452MZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4396643.20    | 1.17%             | 2049-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs                   | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: N/A<br>LEI: N/A                        | Short            | DBT              | MUN               | US        | -10200000 | PA      | $-10200000.00  | -2.71%            | 2039-05-01      | Floating      | 3.18%                 | Yes           |                  2 | On Loan: No      |
| Broward Cnty Fl Sch Dist                                   | School District of Broward County                                            | CUSIP: 115067MC1<br>LEI: 5493006KVNQDJ1D0OD92 | Long             | DBT              | MUN               | US        |   7500000 | PA      | $8082891.75    | 2.14%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Il Park Dist                                       | Chicago Park District                                                        | CUSIP: 167615Z22<br>LEI: 549300DNSTZGBZLIU409 | Long             | DBT              | MUN               | US        |  15000000 | PA      | $15797218.50   | 4.19%             | 2044-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Ny                                                | City of New York NY                                                          | CUSIP: 64966QC40<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |  12000000 | PA      | $13470910.80   | 3.57%             | 2044-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Cleveland-cuyahoga Cnty Oh Port Auth                       | Cleveland-Cuyahoga County Port Authority                                     | CUSIP: 186103LR6<br>LEI: 549300KI3FXFLUKF3A98 | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7514551.80    | 1.99%             | 2047-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Nuveen Amt-free Quality Municipal Income Fund              | Nuveen AMT-Free Quality Municipal Income Fund                                | CUSIP: 670657105<br>LEI: 549300OTYQOOXS64NI63 | Long             | EC               | RF                | US        |   2055315 | NS      | $23368931.55   | 6.20%             |  |  |  | No            |                  1 | On Loan: No      |
| South Carolina St Public Svc Auth Revenue                  | South Carolina Public Service Authority                                      | CUSIP: 837151U49<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   7500000 | PA      | $8233522.50    | 2.18%             | 2052-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Alliancebernstein National Municipal Income Fund Inc       | AllianceBernstein National Municipal Income Fund, Inc.                       | CUSIP: 01864U106<br>LEI: MNYPOOOZYY8V01GEIT28 | Long             | EC               | RF                | US        |    419887 | NS      | $4400415.76    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs                   | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035D3Z6<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -4000000 | PA      | $-4000000.00   | -1.06%            | 2029-12-01      | Floating      | 3.69%                 | Yes           |                  2 | On Loan: No      |
| Nuveen Amt-free Municipal Value Fund                       | Nuveen AMT-Free Municipal Value Fund                                         | CUSIP: 670695105<br>LEI: 5493002K5IM2S29FUR04 | Long             | EC               | RF                | US        |    160532 | NS      | $2184840.52    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| New Jersey St Transprtn Trust Fund Auth                    | New Jersey Transportation Trust Fund Authority                               | CUSIP: 6461367M7<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   5565000 | PA      | $5633661.53    | 1.49%             | 2050-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Belding Mi Area Schs                                       | Belding Area Schools                                                         | CUSIP: 077527NE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2240000 | PA      | $2455604.48    | 0.65%             | 2048-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Triborough Ny Bridge & Tunnel Auth Payroll Mobility Tax    | Triborough Bridge & Tunnel Authority                                         | CUSIP: 89602HDR5<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |  11050000 | PA      | $12052457.11   | 3.20%             | 2052-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| S Estrn Pa Transprtn Auth                                  | Southeastern Pennsylvania Transportation Authority                           | CUSIP: 842039FQ7<br>LEI: 98450061A2F3FD36E493 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5488265.00    | 1.46%             | 2047-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Broward Cnty Fl Tourist Dev Tax Revenue                    | County of Broward FL Tourist Development Tax Revenue                         | CUSIP: 115085AW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9000000 | PA      | $8119120.50    | 2.15%             | 2047-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Nuveen Amt-free Municipal Credit Income Fund               | Nuveen Dividend Advantage Municipal Income Fund                              | CUSIP: 67071L106<br>LEI: 549300LBMO1C0IG71T03 | Long             | EC               | RF                | US        |    238738 | NS      | $2898279.32    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Vance Municipal Bond Fund                            | Eaton Vance Municipal Bond Fund                                              | CUSIP: 27827X101<br>LEI: 5493006Q4EBOXVQBQD12 | Long             | EC               | RF                | US        |   1162977 | NS      | $12083331.03   | 3.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Gtr Asheville Regl Arpt Auth Nc Arpt Sys Revenue           | Greater Asheville Regional Airport Authority                                 | CUSIP: 39160CAT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5286082.00    | 1.40%             | 2052-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Texas St Priv Activity Bond Surface Transprtn Corp Revenue | Texas Private Activity Bond Surface Transportation Corp.                     | CUSIP: 882667AL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3115000 | PA      | $3009876.85    | 0.80%             | 2050-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HEALTH & EDL BLDG CORP                     | Rhode Island Health & Educational Facility Revenue Bonds                     | CUSIP: 762196X57<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7500000 | PA      | $8251535.25    | 2.19%             | 2052-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Michigan St Fin Auth Revenue                               | Michigan Finance Authority                                                   | CUSIP: 59447TQ30<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |  13950000 | PA      | $12920233.32   | 3.43%             | 2055-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Eaton Vance Municipal Income Trust                         | Eaton Vance Municipal Income Trust                                           | CUSIP: 27826U108<br>LEI: 549300DINBO2K1M6KL63 | Long             | EC               | RF                | US        |     12458 | NS      | $122960.46     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Pefa Inc Ia Gas Proj Revenue                               | PEFA, Inc.                                                                   | CUSIP: 70556CAB0<br>LEI: 549300RSE249DJNRHY07 | Long             | DBT              | MUN               | US        |   8000000 | PA      | $8193589.60    | 2.17%             | 2049-09-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania St Turnpike Commission Turnpike Revenue       | Pennsylvania Turnpike Commission                                             | CUSIP: 709225AX4<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |  14000000 | PA      | $14678402.20   | 3.90%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts St Dev Fin Agy Revenue                       | Massachusetts Development Finance Agency                                     | CUSIP: 57583UA81<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7049560.00    | 1.87%             | 2044-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Nuveen California Quality Municipal Income Fund            | Nuveen California Quality Municipal Income Fund                              | CUSIP: 67066Y105<br>LEI: 549300ZT6V9X5U9BHR46 | Long             | EC               | RF                | US        |   1138640 | NS      | $12604744.80   | 3.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs                   | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035DAU9<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -9000000 | PA      | $-9000000.00   | -2.39%            | 2048-07-01      | Floating      | 3.84%                 | Yes           |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States    | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035AXT3<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -3400000 | PA      | $-3400000.00   | -0.90%            | 2029-07-15      | Floating      | 3.72%                 | Yes           |                  2 | On Loan: No      |
| Nuveen Pennsylvania Quality Municipal Income Fund          | Nuveen Pennsylvania Quality Municipal Income Fund                            | CUSIP: 670972108<br>LEI: 5493000C1CS4Q000GF67 | Long             | EC               | RF                | US        |     42173 | NS      | $469385.49     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Municipal 2030 Target Term Trust                 | BlackRock Municipal 2030 Target Term Trust                                   | CUSIP: 09257P105<br>LEI: 549300TDIJ2J8F6X3N04 | Long             | EC               | RF                | US        |    472246 | NS      | $10054117.34   | 2.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Multnomah-clackamas Cntys Or Centennial Sch Dist #28jt     | Multnomah-Clackamas Counties Centennial School District No 28JT              | CUSIP: 625485DR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10798106.00   | 2.87%             | 2050-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Howard University                                          | Howard University                                                            | CUSIP: 442851BG5<br>LEI: K51157D64JPMRRMNLC27 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1483306.62    | 0.39%             | 2051-10-01      | Fixed         | 4.76%                 | No            |                  2 | On Loan: No      |
| Blackrock Municipal Income Trust Ii                        | BlackRock Municipal Income Trust II                                          | CUSIP: 09249N101<br>LEI: 17UVWS2OK706BUPLKK60 | Long             | EC               | RF                | US        |    446633 | NS      | $4613718.89    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuveen Missouri Quality Municipal Income Fund              | Nuveen Missouri Quality Municipal Income Fund                                | CUSIP: 67060Q108<br>LEI: 549300D4075OL0O76470 | Long             | EC               | RF                | US        |     18802 | NS      | $196480.90     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTERN ASSET INTER MUNI FD INC                            | Western Asset Intermediate Municipal Fund                                    | CUSIP: 958435109<br>LEI: 5493000MG5MROBD48K57 | Long             | EC               | RF                | US        |    257522 | NS      | $1954591.98    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Broward Cnty Fl Convention Ctr Hotel Revenue               | County of Broward FL Convention Center Hotel Revenue                         | CUSIP: 115012AV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12500000 | PA      | $13870240.00   | 3.68%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs                   | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035DZH1<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -5735000 | PA      | $-5735000.00   | -1.52%            | 2030-03-15      | Floating      | 3.69%                 | Yes           |                  2 | On Loan: No      |
| Nuveen California Municipal Va                             | Nuveen California Municipal Value Fund                                       | CUSIP: 67062C107<br>LEI: 549300TMONWV3LX8YU60 | Long             | EC               | RF                | US        |    217984 | NS      | $1841964.80    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs                   | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035DDG7<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -8000000 | PA      | $-8000000.00   | -2.12%            | 2046-08-01      | Floating      | 3.81%                 | Yes           |                  2 | On Loan: No      |
| Puerto Rico Cmwlth                                         | Commonwealth of Puerto Rico                                                  | CUSIP: 74514L3L9<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |   1200000 | PA      | $1012760.40    | 0.27%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Will Cnty Il Sch Dist #114 Manhattan                       | Will County School District No 114 Manhattan                                 | CUSIP: 968838KJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5489882.50    | 1.46%             | 2052-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States    | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035AE64<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -8000000 | PA      | $-8000000.00   | -2.12%            | 2052-08-01      | Floating      | 3.20%                 | Yes           |                  2 | On Loan: No      |
| Matching Fund Spl Purpose Securitiztn Corp                 | Matching Fund Special Purpose Securitization Corp.                           | CUSIP: 57665NAE5<br>LEI: N/A                  | Long             | DBT              | MUN               | VI        |    705000 | PA      | $733058.44     | 0.19%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States    | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88034XXV9<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -4175000 | PA      | $-4175000.00   | -1.11%            | 2028-12-15      | Floating      | 3.83%                 | Yes           |                  2 | On Loan: No      |
| Matching Fund Spl Purpose Securitiztn Corp                 | Matching Fund Special Purpose Securitization Corp.                           | CUSIP: 57665NAG0<br>LEI: N/A                  | Long             | DBT              | MUN               | VI        |   2120000 | PA      | $2126326.72    | 0.56%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                     | US 10 Yr Note Future                                                         | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | N/A              | DIR              | CORP              | US        |     -1775 | NC      | $-199326953.13 | -52.89%           |  |  |  | No            |                  1 | On Loan: No      |
| Guam Govt Wtrwks Auth Wtr & Wstwtr Sys Revenue             | Guam Government Waterworks Authority                                         | CUSIP: 40065FDF8<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |   2445000 | PA      | $2433891.39    | 0.65%             | 2050-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Blackrock Muniyield Fund Inc                               | BlackRock MuniYield Fund, Inc.                                               | CUSIP: 09253W104<br>LEI: AVXF9RZVI4EDWXACOH81 | Long             | EC               | RF                | US        |    662375 | NS      | $6895323.75    | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Port Auth Of New York & New Jersey Ny                      | Port Authority of New York & New Jersey                                      | CUSIP: 73358XFS6<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10775249.00   | 2.86%             | 2052-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States    | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035AS28<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -9335000 | PA      | $-9335000.00   | -2.48%            | 2028-12-01      | Floating      | 3.69%                 | Yes           |                  2 | On Loan: No      |
| Eaton Vance New York Municipal Bond Fund                   | Eaton Vance New York Municipal Bond Fund                                     | CUSIP: 27827Y109<br>LEI: 5493003LD9U89XVQ7W91 | Long             | EC               | RF                | US        |    212264 | NS      | $1912498.64    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuveen Quality Municipal Income Fund                       | Nuveen Quality Municipal Income Fund                                         | CUSIP: 67066V101<br>LEI: 549300RDIO25ZNWCOA97 | Long             | EC               | RF                | US        |   1571831 | NS      | $18547605.66   | 4.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs                   | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035DNS0<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -8000000 | PA      | $-8000000.00   | -2.12%            | 2057-12-01      | Floating      | 3.70%                 | Yes           |                  2 | On Loan: No      |
| San Francisco Calif City &cnty Arpts Commn Intl Arpt Rev   | San Francisco City & County Airport Comm-San Francisco International Airport | CUSIP: 79766DGF0<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   6900000 | PA      | $6975325.23    | 1.85%             | 2046-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port Of Seattle Wa Revenue                                 | Port of Seattle WA                                                           | CUSIP: 735389S33<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10359484.00   | 2.75%             | 2046-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Western Asset Municipal Partners Fund Inc                  | Western Asset Municipal Partners Fund, Inc.                                  | CUSIP: 95766P108<br>LEI: 5493001Z97VQ69W5OH84 | Long             | EC               | RF                | US        |    155616 | NS      | $1811370.24    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Illinois St                                                | State of Illinois                                                            | CUSIP: N/A<br>LEI: 54930048FV8RWPR02D67       | Long             | DBT              | MUN               | US        |  13600000 | PA      | $14044752.64   | 3.73%             | 2039-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Met Washington Dc Arpts Auth Arpt Sys Revenue              | Metropolitan Washington Airports Authority Aviation Revenue                  | CUSIP: 592647FN6<br>LEI: 7HERAVJJLN8J1DZ6AZ19 | Long             | DBT              | MUN               | US        |   9660000 | PA      | $9882707.44    | 2.62%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Met Pier & Exposition Auth Il Dedicated St Tax Revenue     | Metropolitan Pier & Exposition Authority                                     | CUSIP: 592248BA5<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $3717872.00    | 0.99%             | 2043-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Intermountain Pwr Agy Ut Pwr Sply Revenue                  | Intermountain Power Agency                                                   | CUSIP: 45884AB85<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8575000 | PA      | $9369219.93    | 2.49%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Western Asset Municipal High Income Fund Inc               | Western Asset Municipal High Income Fund, Inc.                               | CUSIP: 95766N103<br>LEI: 549300V8S0EC6SV7H926 | Long             | EC               | RF                | US        |    166238 | NS      | $1060598.44    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs                   | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035DAS4<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -7725000 | PA      | $-7725000.00   | -2.05%            | 2027-04-01      | Floating      | 3.70%                 | Yes           |                  2 | On Loan: No      |
| Nuveen Select Tax-free Income Portfolio                    | Nuveen Select Tax-Free Income Portfolio                                      | CUSIP: 67062F100<br>LEI: 5493005XMO16VD219F88 | Long             | EC               | RF                | US        |     34130 | NS      | $474748.30     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs                   | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035DSM8<br>LEI: N/A                  | Short            | DBT              | MUN               | US        | -12000000 | PA      | $-12000000.00  | -3.18%            | 2030-01-01      | Floating      | 3.93%                 | Yes           |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States    | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035APQ8<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -5175000 | PA      | $-5175000.00   | -1.37%            | 2046-05-01      | Floating      | 3.21%                 | Yes           |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs                   | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035DNG6<br>LEI: N/A                  | Short            | DBT              | MUN               | US        | -12000000 | PA      | $-12000000.00  | -3.18%            | 2028-07-01      | Floating      | 3.71%                 | Yes           |                  2 | On Loan: No      |
| Western Asset Managed Municipals Fund Inc                  | Western Asset Managed Municipals Fund, Inc.                                  | CUSIP: 95766M105<br>LEI: 549300HVO8EY2T8K4F73 | Long             | EC               | RF                | US        |    370284 | NS      | $3728759.88    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States    | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035ATR2<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -6860000 | PA      | $-6860000.00   | -1.82%            | 2043-07-01      | Floating      | 3.19%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-30

**Name of Applicant:** RiverNorth Flexible Municipal Income Fund II Inc.

**Signature:** Jonathan M. Mohrhardt

**Name of Signer:** Jonathan M. Mohrhardt

**Title:** Treasurer & Chief Financial Officer