# EDGAR Filing Document

**Accession Number:** 0001795351
**File Stem:** 0001099263-26-000821
**Filing Date:** 2026-1
**Character Count:** 84634
**Document Hash:** 06d913d29440868ae5846cd9c5003c63
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001099263-26-000821.hdr.sgml**: 20260127

**ACCESSION NUMBER**: 0001099263-26-000821

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260127

**DATE AS OF CHANGE**: 20260127

**PERIOD START**: 20260531

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** T. Rowe Price Exchange-Traded Funds, Inc.
- **CENTRAL INDEX KEY:** 0001795351

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23494
- **FILM NUMBER:** 26565014

**BUSINESS ADDRESS:**
- **STREET 1:** 1307 POINT STREET
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21231
- **BUSINESS PHONE:** 410-345-2000

**MAIL ADDRESS:**
- **STREET 1:** 1307 POINT STREET
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21231

## Series and Classes Contracts Data

### T. Rowe Price Multi-Sector Income ETF (Series ID: S000095889)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000264671 | T. Rowe Price Multi-Sector Income ETF | TMSF            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** T. Rowe Price Exchange-Traded Funds, Inc.

- **b. Investment Company Act file number:** 811-23494

- **c. CIK number of Registrant:** 0001795351

- **d. LEI of Registrant:** 549300XZPUK24E1UMH17

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

  - **Street Address 1:** 1307 Point Street

  - **City:** Baltimore

  - **State:** MD

  - **Foreign country:** US

  - **Zip / Postal Code:** 21231

  - **Telephone number:** 410-345-2000

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

- **a. Name of Series:** T. Rowe Price Multi-Sector Income ETF

- **b. EDGAR series identifier (if any):** S000095889

- **c. LEI of Series:** 254900DHMPW04QYP3Q03

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

- **a. Date of fiscal year-end:** 2026-05-31

- **b. Date as of which information is reported:** 2025-11-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $27209935.72

**Total Liabilities:** $798460.11

**Net Assets:** $26411475.61

**Delayed Delivery Securities:** $750545.31

**Cash Not Reported:** $23197.64

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -4.900903 | **1-Year:** -688.502280 | **5-Year:** -3045.789985 | **10-Year:** -322.879098 | **30-Year:** -349.682411

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

- **3-Month:** -67.990046 | **1-Year:** -858.210502 | **5-Year:** -3474.675344 | **10-Year:** -690.928450 | **30-Year:** -4.749659

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000264671 |  |  | 0.62%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $0.00                                      |
| Month 2  | $0.00                    | $0.00                                      |
| Month 3  | $-99.52                  | $59075.32                                  |

**Designated Index Information**

- **Index Name:** Bloomberg Barclays US Agg Total Return Value Unhedged USD (Returns)

- **Index Identifier:** LBUSTRUU

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ADIENT GLOBAL HOLDINGS 144A           | ADIENT GLOBAL HOLDINGS COMPANY GUAR 144A 04/31 8.25                                                                                       | CUSIP: 00687YAC9<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |     190000 | PA      | $198787.50    | 0.75%             | 2031-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| ADVANCE AUTO PARTS 144A               | ADVANCE AUTO PARTS COMPANY GUAR 144A 08/30 7                                                                                              | CUSIP: 00751YAK2<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |     253000 | PA      | $257917.81    | 0.98%             | 2030-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| AETHON UN/AETHIN UN FIN 144A          | AETHON UN/AETHIN UN FIN SR UNSECURED 144A 10/29 7.5                                                                                       | CUSIP: 00810GAD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     145000 | PA      | $150618.75    | 0.57%             | 2029-10-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ALIBABA GROUP HOLDING CB 0.0 9/15 CVT | ALIBABA GROUP HOLDING SR UNSECURED REGS 09/32 0.0000                                                                                      | CUSIP: TC91Y8ZU4<br>LEI: 5493001NTNQJDH60PM02 | Long             | DBT              | CORP              | KY        |      92000 | PA      | $98200.80     | 0.37%             | 2032-09-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER 144A         | ALLIANT HOLD / CO ISSUER SR SECURED 144A 01/31 7                                                                                          | CUSIP: 01883LAF0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     189000 | PA      | $196560.00    | 0.74%             | 2031-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                    | ALLY FINANCIAL INC SR UNSECURED 05/29 VAR                                                                                                 | CUSIP: 02005NBZ2<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |     110000 | PA      | $112410.98    | 0.43%             | 2029-05-15      | Variable      | 5.74%                 | No            |                  2 | On Loan: No      |
| AMERIGAS PART/FIN CORP 144A           | AMERIGAS PART/FIN CORP SR UNSECURED 144A 06/28 9.375                                                                                      | CUSIP: 030981AM6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     185000 | PA      | $191937.50    | 0.73%             | 2028-06-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| AMNEAL PHARMACEUTICALS L 144A         | AMNEAL PHARMACEUTICALS L SR SECURED 144A 08/32 6.875                                                                                      | CUSIP: 03168LAA3<br>LEI: 54930037VIXE7LRZ1M66 | Long             | DBT              | CORP              | US        |     188000 | PA      | $198340.00    | 0.75%             | 2032-08-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| APOLLO CMMRL REAL EST FI 144A         | APOLLO CMMRL REAL EST FI SR SECURED 144A 06/29 4.625                                                                                      | CUSIP: 03762UAD7<br>LEI: 549300E0AN7M2AQHSY29 | Long             | DBT              | CORP              | US        |     154000 | PA      | $149187.50    | 0.56%             | 2029-06-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| MINERVA MERGER SUB INC 144A           | ATHENAHEALTH GROUP INC SR UNSECURED 144A 02/30 6.5                                                                                        | CUSIP: 60337JAA4<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | DBT              | CORP              | US        |     109000 | PA      | $107637.50    | 0.41%             | 2030-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AESOP 2022-4A B 144A                  | AVIS BUDGET RENTAL CAR FUNDING AESOP 2022 4A B 144A                                                                                       | CUSIP: 05377RFQ2<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |     100000 | PA      | $101904.80    | 0.39%             | 2029-02-20      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| AXIS 2024-1A B 144A                   | AXIS EQUIPMENT FINANCE RECEIVA AXIS 2024 1A B 144A                                                                                        | CUSIP: 03237CAC6<br>LEI: 254900O8ABFLU3FOSN14 | Long             | ABS-O            | CORP              | US        |     100000 | PA      | $102116.12    | 0.39%             | 2031-01-21      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                  | BANK OF AMERICA CORP SR UNSECURED 09/29 VAR                                                                                               | CUSIP: 06051GLS6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     144000 | PA      | $150243.26    | 0.57%             | 2029-09-15      | Variable      | 5.82%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC CB 1% 02/29         | BARCLAYS BANK PLC SR UNSECURED 02/29 1                                                                                                    | CUSIP: 06744EDH7<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | DBT              | CORP              | GB        |     110000 | PA      | $123195.60    | 0.47%             | 2029-02-16      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| BATLN 2021-21A AR 144A                | BATTALION CLO LTD BATLN 2021 21A AR 144A                                                                                                  | CUSIP: 07134WAN3<br>LEI: 549300EOF4JL75TYXX49 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $249875.00    | 0.95%             | 2034-07-15      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| BBVA BANCOMER SA TEXAS                | BBVA MEX BANCA GRUPO TX SUBORDINATED REGS 09/34 VAR                                                                                       | CUSIP: 05533U9G5<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |     229000 | PA      | $227231.66    | 0.86%             | 2034-09-13      | Variable      | 5.88%                 | No            |                  2 | On Loan: No      |
| BOEING CO                             | BOEING CO SR UNSECURED 02/26 2.196                                                                                                        | CUSIP: 097023DG7<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |      75000 | PA      | $74717.25     | 0.28%             | 2026-02-04      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| BOEING CO                             | BOEING CO SR UNSECURED 05/26 3.1                                                                                                          | CUSIP: 097023CH6<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     108000 | PA      | $107350.06    | 0.41%             | 2026-05-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| BOOZ ALLEN HAMILTON INC 144A          | BOOZ ALLEN HAMILTON INC COMPANY GUAR 144A 07/29 4                                                                                         | CUSIP: 09951LAB9<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |     151000 | PA      | $147823.11    | 0.56%             | 2029-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                          | BROADCOM INC SR UNSECURED 07/30 4.6                                                                                                       | CUSIP: 11135FCK5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |      77000 | PA      | $78284.75     | 0.30%             | 2030-07-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC 144A         | BUILDERS FIRSTSOURCE INC COMPANY GUAR 144A 05/35 6.75                                                                                     | CUSIP: 12008RAT4<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |     250000 | PA      | $264062.50    | 1.00%             | 2035-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BULGARIA                              | BULGARIA SR UNSECURED REGS 03/37 5                                                                                                        | CUSIP: 12015K8R7<br>LEI: 529900PG0XCL4LICL838 | Long             | DBT              | NUSS              | BG        |      34000 | PA      | $34179.91     | 0.13%             | 2037-03-05      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BX 2025-VOLT A 144A                   | BX TRUST BX 2025 VOLT A 144A                                                                                                              | CUSIP: 05619PAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $99937.50     | 0.38%             | 2044-12-15      | Floating      | 5.70%                 | No            |                  2 | On Loan: No      |
| CADENCE DESIGN SYS INC                | CADENCE DESIGN SYS INC SR UNSECURED 09/27 4.2                                                                                             | CUSIP: 127387AM0<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | DBT              | CORP              | US        |      74000 | PA      | $74277.94     | 0.28%             | 2027-09-10      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| CARMX 2025-1 C                        | CARMAX AUTO OWNER TRUST CARMX 2025 1 C                                                                                                    | CUSIP: 14319WAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     100000 | PA      | $101833.86    | 0.39%             | 2030-10-15      | Fixed         | 5.26%                 | No            |                  2 | On Loan: No      |
| CARVANA CO 144A                       | CARVANA CO SR SECURED 144A 06/31 9                                                                                                        | CUSIP: 146869AM4<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |     335000 | PA      | $376875.00    | 1.43%             | 2031-06-01      | Variable      | 9.00%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP 144A           | CCO HLDGS LLC/CAP CORP SR UNSECURED 144A 01/34 4.25                                                                                       | CUSIP: 1248EPCP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     307000 | PA      | $260182.50    | 0.99%             | 2034-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CESKA SPORITELNA AS                   | CESKA SPORITELNA AS REGS 03/28 VAR                                                                                                        | CUSIP: 1251869C2<br>LEI: 9KOGW2C2FCIOJQ7FF485 | Long             | DBT              | CORP              | CZ        |     100000 | PA      | $120102.03    | 0.45%             | 2028-03-08      | Variable      | 5.74%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP              | CHARTER COMM OPT LLC/CAP SR SECURED 03/29 5.05                                                                                            | CUSIP: 161175BR4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      91000 | PA      | $91798.25     | 0.35%             | 2029-03-30      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP              | CHARTER COMM OPT LLC/CAP SR SECURED 10/35 6.384                                                                                           | CUSIP: 161175AZ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      80000 | PA      | $82482.64     | 0.31%             | 2035-10-23      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CHOBANI HOLDCO II LLC 144A            | CHOBANI HOLDCO II LLC SR UNSECURED 144A 10/29 8.75                                                                                        | CUSIP: 169918AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     101000 | PA      | $107186.25    | 0.41%             | 2029-10-01      | Variable      | 8.75%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS 144A         | CHS/COMMUNITY HEALTH SYS SR SECURED 144A 01/32 10.875                                                                                     | CUSIP: 12543DBN9<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |     140000 | PA      | $150675.00    | 0.57%             | 2032-01-15      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| CIVITAS RESOURCES INC 144A            | CIVITAS RESOURCES INC COMPANY GUAR 144A 06/33 9.625                                                                                       | CUSIP: 17888HAD5<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |     205000 | PA      | $220887.50    | 0.84%             | 2033-06-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| CMG MEDIA CORPORATION 144A            | CMG MEDIA CORPORATION SECURED 144A 06/29 8.875                                                                                            | CUSIP: 125773AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     123000 | PA      | $101475.00    | 0.38%             | 2029-06-18      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| COMSTOCK RESOURCES INC 144A           | COMSTOCK RESOURCES INC COMPANY GUAR 144A 03/29 6.75                                                                                       | CUSIP: 205768AS3<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |     151000 | PA      | $150245.00    | 0.57%             | 2029-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CP ATLAS BUYER INC 144A               | CP ATLAS BUYER INC SR SECURED 144A 07/30 9.75                                                                                             | CUSIP: 12597YAC3<br>LEI: 2549006ZZ07G0NDDCR36 | Long             | DBT              | CORP              | US        |     193000 | PA      | $194930.00    | 0.74%             | 2030-07-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE 144A          | CRESCENT ENERGY FINANCE COMPANY GUAR 144A 04/32 7.625                                                                                     | CUSIP: 45344LAD5<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |     234000 | PA      | $227565.00    | 0.86%             | 2032-04-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| XROAD 2024-A B 144A                   | CROSSROADS ASSET TRUST XROAD 2024 A B 144A                                                                                                | CUSIP: 227927AC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      42000 | PA      | $42845.32     | 0.16%             | 2030-08-20      | Fixed         | 5.94%                 | No            |                  2 | On Loan: No      |
| CVR PARTNERS/CVR NITROGE 144A         | CVR PARTNERS/CVR NITROGE SR SECURED 144A 06/28 6.125                                                                                      | CUSIP: 12663QAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     149000 | PA      | $148441.25    | 0.56%             | 2028-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                       | CVS HEALTH CORP JR SUBORDINA 12/54 VAR                                                                                                    | CUSIP: 126650EG1<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |     244000 | PA      | $251926.10    | 0.95%             | 2054-12-10      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                       | CVS HEALTH CORP SR UNSECURED 02/30 5.125                                                                                                  | CUSIP: 126650DT4<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |     137000 | PA      | $141116.30    | 0.53%             | 2030-02-21      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| DIAMONDBACK ENERGY INC                | DIAMONDBACK ENERGY INC COMPANY GUAR 04/54 5.75                                                                                            | CUSIP: 25278XBA6<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |     120000 | PA      | $115218.12    | 0.44%             | 2054-04-18      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| DISH NETWORK CORP 144A                | DISH NETWORK CORP SR SECURED 144A 11/27 11.75                                                                                             | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |     102000 | PA      | $106590.00    | 0.40%             | 2027-11-15      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| DRIVE 2024-2 D                        | DRIVE AUTO RECEIVABLES TRUST DRIVE 2024 2 D                                                                                               | CUSIP: 26207AAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     100000 | PA      | $100822.63    | 0.38%             | 2032-05-17      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                         | ECHOSTAR CORP SR SECURED 11/29 10.75                                                                                                      | CUSIP: 278768AC0<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |      93000 | PA      | $102532.50    | 0.39%             | 2029-11-30      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| ECOPETROL SA                          | ECOPETROL SA SR UNSECURED 01/36 8.375                                                                                                     | CUSIP: 279158AV1<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |      59000 | PA      | $60548.75     | 0.23%             | 2036-01-19      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| EQUITABLE AMERICA GLOBAL 144A         | EQUITABLE AMERICA GLOBAL SECURED 144A 09/32 4.7                                                                                           | CUSIP: 29446Q2E2<br>LEI: 98450066CCBIACF06694 | Long             | DBT              | CORP              | US        |      90000 | PA      | $89694.27     | 0.34%             | 2032-09-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| N/A                                   | EURO-OAT FUTURE   DEC25 XEUR 20251208                                                                                                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | DE        |         -2 | NC      | $-1183.20     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| CAS 2025-R06 1M1 144A                 | FANNIE MAE   CAS CAS 2025 R06 1M1 144A                                                                                                    | CUSIP: 20754YAB7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      94366 | PA      | $94252.73     | 0.36%             | 2045-09-25      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| BRAZIL                                | FED REPUBLIC OF BRAZIL SR UNSECURED 03/35 6.625                                                                                           | CUSIP: 105756CL2<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |     200000 | PA      | $207250.00    | 0.78%             | 2035-03-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                   | FIFTH THIRD BANCORP SR UNSECURED 09/30 VAR                                                                                                | CUSIP: 316773DM9<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |     105000 | PA      | $106782.48    | 0.40%             | 2030-09-06      | Variable      | 4.89%                 | No            |                  2 | On Loan: No      |
| FORTINET INC                          | FORTINET INC SR UNSECURED 03/31 2.2                                                                                                       | CUSIP: 34959EAB5<br>LEI: 549300O0QJWDBAS0QX03 | Long             | DBT              | CORP              | US        |      67000 | PA      | $60033.81     | 0.23%             | 2031-03-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| STACR 2022-DNA2 M1B 144A              | FREDDIE MAC   STACR STACR 2022 DNA2 M1B 144A                                                                                              | CUSIP: 35564KRF8<br>LEI: 5493000ISA3AUOXQEF68 | Long             | ABS-MBS          | USGSE             | US        |      60000 | PA      | $61007.89     | 0.23%             | 2042-02-25      | Floating      | 6.47%                 | No            |                  2 | On Loan: No      |
| STACR 2023-HQA3 A1 144A               | FREDDIE MAC   STACR STACR 2023 HQA3 A1 144A                                                                                               | CUSIP: 35564K3F4<br>LEI: 529900ZTXRUUVE8G8W08 | Long             | ABS-MBS          | USGSE             | US        |      87428 | PA      | $88297.08     | 0.33%             | 2043-11-25      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| STACR 2023-HQA3 M1 144A               | FREDDIE MAC   STACR STACR 2023 HQA3 M1 144A                                                                                               | CUSIP: 35564K3G2<br>LEI: 529900ZTXRUUVE8G8W08 | Long             | ABS-MBS          | USGSE             | US        |      46772 | PA      | $47025.57     | 0.18%             | 2043-11-25      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| FS LUXEMBOURG SARL                    | FS LUXEMBOURG SARL COMPANY GUAR REGS 02/31 8.875                                                                                          | CUSIP: 30315X9A4<br>LEI: 222100EKR3JUJPGGOY81 | Long             | DBT              | CORP              | LU        |     275000 | PA      | $284281.25    | 1.08%             | 2031-02-12      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                | GENERAL MOTORS FINL CO SR UNSECURED 10/28 4.2                                                                                             | CUSIP: 37045XFL5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |     122000 | PA      | $121956.81    | 0.46%             | 2028-10-27      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| GETTY IMAGES INC 144A                 | GETTY IMAGES INC SR SECURED 144A 11/30 10.5                                                                                               | CUSIP: 374276AR4<br>LEI: 5493005NV20IG4VEKZ40 | Long             | DBT              | CORP              | US        |     196000 | PA      | $197470.00    | 0.75%             | 2030-11-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN 144A         | GRAPHIC PACKAGING INTERN COMPANY GUAR 144A 02/30 3.75                                                                                     | CUSIP: 38869AAD9<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |     275000 | PA      | $258156.25    | 0.98%             | 2030-02-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| HCA INC                               | HCA INC COMPANY GUAR 09/30 3.5                                                                                                            | CUSIP: 404119CA5<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |     235000 | PA      | $226460.10    | 0.86%             | 2030-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| HIGHTOWER HOLDING LLC 144A            | HIGHTOWER HOLDING LLC SR UNSECURED 144A 01/30 9.125                                                                                       | CUSIP: 43118DAB6<br>LEI: 254900MKOSB7RTMA9K12 | Long             | DBT              | CORP              | US        |      98000 | PA      | $103145.00    | 0.39%             | 2030-01-31      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP 144A         | HILCORP ENERGY I/HILCORP SR UNSECURED 144A 02/31 6                                                                                        | CUSIP: 431318AV6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     240000 | PA      | $225900.00    | 0.86%             | 2031-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HGVT 2023-1A C 144A                   | HILTON GRAND VACATIONS TRUST HGVT 2023 1A C 144A                                                                                          | CUSIP: 432917AC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      80663 | PA      | $83358.64     | 0.32%             | 2038-01-25      | Fixed         | 6.94%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA 144A          | HYUNDAI CAPITAL AMERICA SR UNSECURED 144A 03/30 5.15                                                                                      | CUSIP: 44891ADQ7<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |      70000 | PA      | $71739.50     | 0.27%             | 2030-03-27      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA 144A          | HYUNDAI CAPITAL AMERICA SR UNSECURED 144A 06/28 4.9                                                                                       | CUSIP: 44891ADV6<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |     106000 | PA      | $107664.31    | 0.41%             | 2028-06-23      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN 144A          | JANE STREET GRP/JSG FIN SR SECURED 144A 04/31 7.125                                                                                       | CUSIP: 47077WAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     247000 | PA      | $259658.75    | 0.98%             | 2031-04-30      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| JPMMT 2025-HE3 A1 144A                | JP MORGAN MORTGAGE TRUST JPMMT 2025 HE3 A1 144A                                                                                           | CUSIP: 46660CAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      25000 | PA      | $25001.45     | 0.09%             | 2056-03-25      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE FINANCIAL CB           | JPMORGAN CHASE FINANCIAL SR UNSECURED 06/27 0.5                                                                                           | CUSIP: 48133DL24<br>LEI: 549300NJFDJOFYVV6789 | Long             | DBT              | CORP              | US        |     138000 | PA      | $149680.32    | 0.57%             | 2027-06-15      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| JSC KASPI.KZ                          | KASPI.KZ JSC SR UNSECURED REGS 03/30 6.25                                                                                                 | CUSIP: 4662819A2<br>LEI: 2549003YU6FARG8OAZ13 | Long             | DBT              | CORP              | KZ        |     222000 | PA      | $228096.20    | 0.86%             | 2030-03-26      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| KINGP 2021-1A A1R 144A                | KINGS PARK CLO LTD KINGP 2021 1A A1R 144A                                                                                                 | CUSIP: 496094AQ6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250000.00    | 0.95%             | 2039-01-21      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| KLABIN AUSTRIA GMBH                   | KLABIN AUSTRIA GMBH COMPANY GUAR REGS 04/29 5.75                                                                                          | CUSIP: 49836A9A4<br>LEI: 984500578YEA8DD41B09 | Long             | DBT              | CORP              | AT        |     281000 | PA      | $284863.75    | 1.08%             | 2029-04-03      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC 144A            | LEVEL 3 FINANCING INC SECURED 144A 06/29 4.875                                                                                            | CUSIP: 527298CB7<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |     208000 | PA      | $198120.00    | 0.75%             | 2029-06-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC 144A             | LIFEPOINT HEALTH INC SR SECURED 144A 10/30 11                                                                                             | CUSIP: 53219LAW9<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |     181000 | PA      | $198647.50    | 0.75%             | 2030-10-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| N/A                                   | Long: 621125165 IRS BRL R F 13.21500 5621125165_FIX NDFPREDISWAP/ Short: 621125165 IRS BRL P V 12MBRCDI 5621125165_FLO NDFPREDISWAP       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | GB        |          1 | NC      | $4033.94      | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | Long: B18290669 IRS USD R V 12MUSCPI 5618290669INF CCPINFLATIONZERO/ Short: B18290669 IRS USD P F  2.45120 5618290669FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DO               | CORP              | US        |          1 | NC      | $-255.72      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | Long: B21643720 IRS USD R V 12MUSCPI 5621643720INF CCPINFLATIONZERO/ Short: B21643720 IRS USD P F  2.62920 5621643720FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DO               | CORP              | US        |          1 | NC      | $-97.03       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | Long: B23235043 IRS USD R V 12MUSCPI 5623235043INF CCPINFLATIONZERO/ Short: B23235043 IRS USD P F  2.44320 5623235043FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DO               | CORP              | US        |          1 | NC      | $-3464.62     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS ICE                     | Long: S20156606 IRS INR R F  5.93570 5620156606_FIX CCPNDFOIS/ Short: S20156606 IRS INR P V 06MMIBOR 5620156606_FLO CCPNDFOIS             | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | US        |          1 | NC      | $-1623.61     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | Long: S20553430 IRS CLP R F  4.70930 5620553430FIX CCPNDFCAMARAPROM/ Short: S20553430 IRS CLP P V 12MCLICP 5620553430FLO CCPNDFCAMARAPROM | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | US        |          1 | NC      | $24.18        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | Long: S64324465 CDS USD R F  1.00000 5564324465FEE CCPCDX/ Short: S64324465 CDS USD P V 03MEVENT 5564324465PRO CCPCDX                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCR              | CORP              | US        |          1 | NC      | $91579.03     | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | Long: S71123036 CDS USD R F  5.00000 5571123036FEE CCPCDX/ Short: S71123036 CDS USD P V 03MEVENT 5571123036PRO CCPCDX                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCR              | CORP              | US        |          1 | NC      | $268102.14    | 1.02%             |  |  |  | No            |                  2 | On Loan: No      |
| MAD 2025-11MD B 144A                  | MADISON AVENUE TRUST MAD 2025 11MD B 144A                                                                                                 | CUSIP: 55616AAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $100556.73    | 0.38%             | 2042-10-15      | Variable      | 5.26%                 | No            |                  2 | On Loan: No      |
| MADISON IAQ LLC 144A                  | MADISON IAQ LLC SR UNSECURED 144A 06/29 5.875                                                                                             | CUSIP: 55760LAB3<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |     107000 | PA      | $105662.50    | 0.40%             | 2029-06-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MAGNE 2023-37A A1R 144A               | MAGNETITE CLO LTD MAGNE 2023 37A A1R 144A                                                                                                 | CUSIP: 55952AAL3<br>LEI: 529900QDM2RO966NLE49 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $249850.00    | 0.95%             | 2038-10-25      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| MALAYSIA                              | MALAYSIA GOVERNMENT BONDS 04/33 3.844                                                                                                     | CUSIP: 5609949S6<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |    1720000 | PA      | $426345.51    | 1.61%             | 2033-04-15      | Fixed         | 3.84%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC 144A           | MATCH GROUP HLD II LLC SR UNSECURED 144A 09/33 6.125                                                                                      | CUSIP: 57667JAC6<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |     254000 | PA      | $256540.00    | 0.97%             | 2033-09-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CONDOR MERGER SUB INC 144A            | MCAFEE CORP SR UNSECURED 144A 02/30 7.375                                                                                                 | CUSIP: 579063AB4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | DBT              | CORP              | US        |     120000 | PA      | $104700.00    | 0.40%             | 2030-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                 | MELCO RESORTS FINANCE SR UNSECURED REGS 07/28 5.75                                                                                        | CUSIP: 58547D9F8<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |     287000 | PA      | $285206.25    | 1.08%             | 2028-07-21      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MIDAS OPCO HOLDINGS LLC 144A          | MIDAS OPCO HOLDINGS LLC COMPANY GUAR 144A 08/29 5.625                                                                                     | CUSIP: 59565JAA9<br>LEI: 984500904E015Z0C1F82 | Long             | DBT              | CORP              | US        |     206000 | PA      | $199820.00    | 0.76%             | 2029-08-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL 144A          | MPT OPER PARTNERSP/FINL SR SECURED 144A 02/32 8.5                                                                                         | CUSIP: 55342UAQ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     186000 | PA      | $195765.00    | 0.74%             | 2032-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                          | NAVIENT CORP SR UNSECURED 07/30 9.375                                                                                                     | CUSIP: 63938CAN8<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |     231000 | PA      | $254100.00    | 0.96%             | 2030-07-25      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| NEPTUNE BIDCO US INC 144A             | NEPTUNE BIDCO US INC SR SECURED 144A 04/29 9.29                                                                                           | CUSIP: 640695AA0<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |     202000 | PA      | $200485.00    | 0.76%             | 2029-04-15      | Fixed         | 9.29%                 | No            |                  2 | On Loan: No      |
| NRZT 2025-NQM6 A1 144A                | NEW RESIDENTIAL MORTGAGE LOAN NRZT 2025 NQM6 A1 144A                                                                                      | CUSIP: 64832KAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $99936.41     | 0.38%             | 2065-10-25      | Variable      | 5.08%                 | No            |                  2 | On Loan: No      |
| NGL ENERGY PARTNERS LP 144A           | NGL ENRGY OP/FIN CORP SR SECURED 144A 02/29 8.125                                                                                         | CUSIP: 62922LAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     148000 | PA      | $152255.00    | 0.58%             | 2029-02-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| NIAGARA MOHAWK POWER 144A             | NIAGARA MOHAWK POWER SR UNSECURED 144A 10/30 4.647                                                                                        | CUSIP: 653522DT6<br>LEI: 3T97Y9RR5EN5Y18QHB56 | Long             | DBT              | CORP              | US        |      81000 | PA      | $81439.91     | 0.31%             | 2030-10-03      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| NIGERIA T- BILL                       | NIGERIA OMO BILL BILLS 03/26 0.00000                                                                                                      | CUSIP: TC65FW7J2<br>LEI: 549300G1JG004Y3K8S97 | Long             | DBT              | NUSS              | NG        |  290000000 | PA      | $189583.65    | 0.72%             | 2026-03-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC 144A                   | NRG ENERGY INC JR SUBORDINA 144A 12/99 VAR                                                                                                | CUSIP: 629377CU4<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     238000 | PA      | $259717.50    | 0.98%             | 2174-09-15      | Variable      | 10.25%                | No            |                  2 | On Loan: No      |
| NYC 2025-28L B 144A                   | NYC COMMERCIAL MORTGAGE TRUST NYC 2025 28L B 144A                                                                                         | CUSIP: 67123JAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $100197.39    | 0.38%             | 2038-11-05      | Variable      | 5.01%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR              | OCCIDENTAL PETROLEUM COR SR UNSECURED 07/30 8.875                                                                                         | CUSIP: 674599EA9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |     116000 | PA      | $134125.00    | 0.51%             | 2030-07-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                             | ONEOK INC COMPANY GUAR 09/27 4.25                                                                                                         | CUSIP: 682680CB7<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |     126000 | PA      | $126142.88    | 0.48%             | 2027-09-24      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                           | ORACLE CORP SR UNSECURED 09/30 4.45                                                                                                       | CUSIP: 68389XDH5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     229000 | PA      | $225656.60    | 0.85%             | 2030-09-26      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                   | PETROLEOS MEXICANOS COMPANY GUAR 06/29 8.75                                                                                               | CUSIP: 71654QDL3<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     188000 | PA      | $201160.00    | 0.76%             | 2029-06-02      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                | PNC FINANCIAL SERVICES SR UNSECURED 01/36 VAR                                                                                             | CUSIP: 693475CC7<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |      71000 | PA      | $74519.83     | 0.28%             | 2036-01-29      | Variable      | 5.58%                 | No            |                  2 | On Loan: No      |
| PR COMWLTH PUB IMPT CVI-SUBSER CW NT  | PUERTO RICO CMWLTH PRC 11/43 ADJUSTABLE VAR                                                                                               | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |     140400 | PA      | $89856.00     | 0.34%             | 2043-11-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                      | PURCHASED EGP/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | EG        |          1 | NC      | $45.93        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank N.A.              | PURCHASED EGP/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | EG        |          1 | NC      | $20.99        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.         | PURCHASED EUR/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | KY        |          1 | NC      | $296.58       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America N.A.                  | PURCHASED GBP/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | GB        |          1 | NC      | $1417.78      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                      | PURCHASED TRY/ SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | TR        |          1 | NC      | $812.69       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International           | PURCHASED USD/ SOLD BRL                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | BR        |          1 | NC      | $-2447.02     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America N.A.                  | PURCHASED USD/ SOLD COP                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | CO        |          1 | NC      | $-2345.21     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.         | PURCHASED USD/ SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | KY        |          1 | NC      | $-8.78        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                      | PURCHASED USD/ SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | KY        |          1 | NC      | $-2747.36     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank N.A.              | PURCHASED USD/ SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | KY        |          1 | NC      | $-696.26      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank N.A.              | PURCHASED USD/ SOLD GBP                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | GB        |          1 | NC      | $-3735.57     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                      | PURCHASED USD/ SOLD IDR                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | ID        |          1 | NC      | $-1436.12     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                     | PURCHASED USD/ SOLD IDR                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | ID        |          1 | NC      | $-10.21       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank N.A.              | PURCHASED USD/ SOLD MYR                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | MY        |          1 | NC      | $-2511.42     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.         | PURCHASED USD/ SOLD ZAR                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | ZA        |          1 | NC      | $-479.82      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America N.A.                  | PURCHASED USD/ SOLD ZAR                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | ZA        |          1 | NC      | $-704.22      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                     | PURCHASED USD/ SOLD ZAR                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              | CORP              | ZA        |          1 | NC      | $-702.22      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| QNITY ELECTRONICS INC 144A            | QNITY ELECTRONICS INC SR SECURED 144A 08/32 5.75                                                                                          | CUSIP: 74743LAA8<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |     251000 | PA      | $257902.50    | 0.98%             | 2032-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC 144A            | QUIKRETE HOLDINGS INC SR UNSECURED 144A 03/33 6.75                                                                                        | CUSIP: 74843PAB6<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |     191000 | PA      | $199117.50    | 0.75%             | 2033-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| RAIZEN FUELS FINANCE                  | RAIZEN FUELS FINANCE COMPANY GUAR REGS 03/54 6.95                                                                                         | CUSIP: 75102X9A6<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |     280000 | PA      | $223300.00    | 0.85%             | 2054-03-05      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ARGENTINA                 | REPUBLIC OF ARGENTINA SR UNSECURED 01/38 VAR                                                                                              | CUSIP: 040114HU7<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |      81000 | PA      | $60142.50     | 0.23%             | 2038-01-09      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| PARAGUAY                              | REPUBLIC OF PARAGUAY SR UNSECURED REGS 01/33 2.739                                                                                        | CUSIP: 6991499H5<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |     225000 | PA      | $198562.50    | 0.75%             | 2033-01-29      | Fixed         | 2.74%                 | No            |                  2 | On Loan: No      |
| POLAND                                | REPUBLIC OF POLAND SR UNSECURED 10/33 4.875                                                                                               | CUSIP: 731011AV4<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     162000 | PA      | $164577.74    | 0.62%             | 2033-10-04      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| SRI LANKA 144A                        | REPUBLIC OF SRI LANKA SR UNSECURED 144A 02/38 VAR                                                                                         | CUSIP: 85227S9U2<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |      68000 | PA      | $62619.44     | 0.24%             | 2038-02-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| RIVIAN HLD/AUTO LLC 144A              | RIVIAN HLD/AUTO LLC SR SECURED 144A 01/31 10                                                                                              | CUSIP: 76954LAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      83000 | PA      | $78850.00     | 0.30%             | 2031-01-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN              | ROGERS COMMUNICATIONS IN SUBORDINATED 04/55 VAR                                                                                           | CUSIP: 775109DH1<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |     214000 | PA      | $225502.50    | 0.85%             | 2055-04-15      | Variable      | 7.12%                 | No            |                  2 | On Loan: No      |
| ROMANIA 144A                          | ROMANIA SR UNSECURED 144A 06/33 5.375                                                                                                     | CUSIP: TC3DTC4B7<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     237000 | PA      | $279802.14    | 1.06%             | 2033-06-07      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ROMANIA                               | ROMANIA SR UNSECURED REGS 09/31 5.125                                                                                                     | CUSIP: TC8M3M352<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     104000 | PA      | $123596.78    | 0.47%             | 2031-09-24      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| SASOL FINANCING USA LLC               | SASOL FINANCING USA LLC COMPANY GUAR 09/28 6.5                                                                                            | CUSIP: 80386WAB1<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | US        |     288000 | PA      | $283680.00    | 1.07%             | 2028-09-27      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST              | SERVICE PROPERTIES TRUST COMPANY GUAR 12/27 5.5                                                                                           | CUSIP: 81761LAB8<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |     110000 | PA      | $107662.50    | 0.41%             | 2027-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SHINHAN BANK                          | SHINHAN BANK SUBORDINATED REGS 04/34 5.75                                                                                                 | CUSIP: 8245899H0<br>LEI: 5493003P813VL21KG928 | Long             | DBT              | CORP              | KR        |     217000 | PA      | $229167.62    | 0.87%             | 2034-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SIX FLAGS ENTERTAINMENT 144A          | SIX FLAGS ENTERTAINME COMPANY GUAR 144A 05/31 7.25                                                                                        | CUSIP: 83001AAD4<br>LEI: 529900AS2CYWYFHRS781 | Long             | DBT              | CORP              | US        |     214000 | PA      | $203300.00    | 0.77%             | 2031-05-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| SYNOPSYS INC                          | SYNOPSYS INC SR UNSECURED 04/30 4.85                                                                                                      | CUSIP: 871607AC1<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |      95000 | PA      | $97128.19     | 0.37%             | 2030-04-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                      | T MOBILE USA INC COMPANY GUAR 04/30 3.875                                                                                                 | CUSIP: 87264ABF1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |      76000 | PA      | $74797.07     | 0.28%             | 2030-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| TRP FLOATING RATE ETF                 | T ROWE PRICE FLOATING RATE ETF T ROWE PRICE FLOATING RT ETF                                                                               | CUSIP: 87283Q883<br>LEI: 5493005Y3VRUR59CUG92 | Long             | EC               | RF                | US        |      39000 | NS      | $1999725.00   | 7.57%             |  |  |  | No            |                  1 | On Loan: No      |
| T. Rowe Price Government Reserve Fund | T. Rowe Price Government Reserve Fund                                                                                                     | CUSIP: 000000000<br>LEI: 5493002Y0IYARJVQ5N24 | Long             | STIV             | RF                | US        |    2559101 | NS      | $2559101.22   | 9.69%             |  |  |  | No            |                  1 | On Loan: No      |
| TALEN ENERGY SUPPLY LLC 144A          | TALEN ENERGY SUPPLY LLC COMPANY GUAR 144A 02/34 6.25                                                                                      | CUSIP: 87422VAM0<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | DBT              | CORP              | US        |     196000 | PA      | $199684.80    | 0.76%             | 2034-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN 144A          | TALLGRASS NRG PRTNR/FIN SR UNSECURED 144A 02/29 7.375                                                                                     | CUSIP: 87470LAL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     145000 | PA      | $149712.50    | 0.57%             | 2029-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| TEXAS 2025-TWR A 144A                 | TEXAS COMMERCIAL MORTGAGE TRUS TEXAS 2025 TWR A 144A                                                                                      | CUSIP: 88231WAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $99976.41     | 0.38%             | 2042-04-15      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| TIA 2018-1A A2R 144A                  | TIAA CLO LTD TIA 2018 1A A2R 144A                                                                                                         | CUSIP: 88631YAQ0<br>LEI: 5493000Q4E256SBMCY29 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $249870.77    | 0.95%             | 2032-01-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| COLOMBIA                              | TITULOS DE TESORERIA BONDS 02/33 13.25                                                                                                    | CUSIP: 1959948C5<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        | 2109400000 | PA      | $580291.40    | 2.20%             | 2033-02-09      | Fixed         | 13.25%                | No            |                  2 | On Loan: No      |
| TOBACCO STL FIN CORP TXBL SER A-1     | TOBACCO SETTLEMENT FING CORP V TOBGEN 06/46 FIXED OID 6.706                                                                               | CUSIP: 88880NAT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     105000 | PA      | $79610.01     | 0.30%             | 2046-06-01      | Fixed         | 6.71%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN AQUILA LTD 144A            | TRANSOCEAN AQUILA LTD SR SECURED 144A 09/28 8                                                                                             | CUSIP: 893790AA3<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     146785 | PA      | $150454.23    | 0.57%             | 2028-09-30      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| U S TREASURY BILL                     | TREASURY BILL 02/26 0.00000                                                                                                               | CUSIP: 912797RT6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     500000 | PA      | $496243.54    | 1.88%             | 2026-02-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TREEHOUSE FOODS INC                   | TREEHOUSE FOODS INC COMPANY GUAR 09/28 4                                                                                                  | CUSIP: 89469AAD6<br>LEI: 5493007M7EVHE470Q576 | Long             | DBT              | CORP              | US        |     199000 | PA      | $198005.00    | 0.75%             | 2028-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TRIDENT TPI HOLDINGS INC 144A         | TRIDENT TPI HOLDINGS INC COMPANY GUAR 144A 12/28 12.75                                                                                    | CUSIP: 89616RAC3<br>LEI: 549300TPLK304J3RNC85 | Long             | DBT              | CORP              | US        |     102000 | PA      | $102510.00    | 0.39%             | 2028-12-31      | Fixed         | 12.75%                | No            |                  2 | On Loan: No      |
| TRNTS 2019-10A AR2 144A               | TRINITAS CLO LTD TRNTS 2019 10A AR2 144A                                                                                                  | CUSIP: 89640AAW6<br>LEI: 549300W90X4BIMRJ8H82 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250000.00    | 0.95%             | 2035-01-15      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                 | UBER TECHNOLOGIES INC SR UNSECURED 01/30 4.3                                                                                              | CUSIP: 90353TAN0<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |     162000 | PA      | $163079.41    | 0.62%             | 2030-01-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                    | UKRAINE GOVERNMENT SR UNSECURED REGS 02/35 VAR                                                                                            | CUSIP: TC93R0JA7<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |      45000 | PA      | $26324.17     | 0.10%             | 2035-02-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| UKRAINE                               | UKRAINE GOVERNMENT SR UNSECURED REGS 02/36 VAR                                                                                            | CUSIP: 9037249B0<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |      23000 | PA      | $13238.35     | 0.05%             | 2036-02-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| UKRAINE                               | UKRAINE GOVERNMENT SR UNSECURED REGS 02/36 VAR                                                                                            | CUSIP: 9037248Y1<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |      42000 | PA      | $23705.02     | 0.09%             | 2036-02-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| N/A                                   | US 10YR FUT OPTN  JAN26C 113.5 EXP 12/26/2025                                                                                             | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | US        |         -5 | NC      | $-2500.00     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | US 10YR NOTE (CBT)MAR26 XCBT 20260320                                                                                                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | US        |         16 | NC      | $375.01       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | US 10YR ULTRA FUT MAR26 XCBT 20260320                                                                                                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | US        |         12 | NC      | $4593.76      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | US 2YR NOTE (CBT) MAR26 XCBT 20260331                                                                                                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | US        |         -7 | NC      | $-159.96      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | US 5YR NOTE (CBT) MAR26 XCBT 20260331                                                                                                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | US        |        -16 | NC      | $-999.97      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | US ULTRA BOND CBT MAR26 XCBT 20260320                                                                                                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | US        |          1 | NC      | $773.44       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| UWM HOLDINGS LLC 144A                 | UWM HOLDINGS LLC COMPANY GUAR 144A 02/30 6.625                                                                                            | CUSIP: 903522AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      75000 | PA      | $75937.50     | 0.29%             | 2030-02-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| UZBEK INDUSTRIAL AND CON              | UZBEK INDUSTRIAL AND CON SR UNSECURED REGS 07/27 21                                                                                       | CUSIP: TC2XYJP20<br>LEI: 213800C2NIFPFTXYIU69 | Long             | DBT              | CORP              | UZ        | 2500000000 | PA      | $220025.08    | 0.83%             | 2027-07-24      | Fixed         | 21.00%                | No            |                  2 | On Loan: No      |
| VEON HOLDINGS BV                      | VEON MIDCO BV COMPANY GUAR REGS 11/27 3.375                                                                                               | CUSIP: TC5QQ6AG4<br>LEI: 213800GOFSH7EPKBRE50 | Long             | DBT              | CORP              | NL        |     300000 | PA      | $282750.00    | 1.07%             | 2027-11-25      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP 144A                      | VISTRA CORP JR SUBORDINA 144A VAR                                                                                                         | CUSIP: 92840MAB8<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |      76000 | PA      | $77330.00     | 0.29%             | 2174-04-15      | Variable      | 8.00%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC 144A         | VISTRA OPERATIONS CO LLC SR SECURED 144A 04/34 6                                                                                          | CUSIP: 92840VAS1<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |      57000 | PA      | $59958.02     | 0.23%             | 2034-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VITAL ENERGY INC 144A                 | VITAL ENERGY INC COMPANY GUAR 144A 04/32 7.875                                                                                            | CUSIP: 516806AK2<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |     157000 | PA      | $151505.00    | 0.57%             | 2032-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                 | WELLS FARGO + COMPANY SR UNSECURED 03/28 VAR                                                                                              | CUSIP: 95000U2V4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |      52000 | PA      | $51625.03     | 0.20%             | 2028-03-24      | Variable      | 3.53%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                 | WELLS FARGO + COMPANY SR UNSECURED 04/31 VAR                                                                                              | CUSIP: 95000U3W1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     258000 | PA      | $266713.43    | 1.01%             | 2031-04-23      | Variable      | 5.15%                 | No            |                  2 | On Loan: No      |
| WEN 2025-1A A2I 144A                  | WENDYS FUNDING LLC WEN 2025 1A A2I 144A                                                                                                   | CUSIP: 95058XAR9<br>LEI: 5493009DRVSTWJOXUL48 | Long             | ABS-O            | CORP              | US        |      50000 | PA      | $50264.50     | 0.19%             | 2055-12-15      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC 144A             | WR GRACE HOLDING LLC SR SECURED 144A 06/27 4.875                                                                                          | CUSIP: 92943GAD3<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |     150000 | PA      | $148500.00    | 0.56%             | 2027-06-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING 144A           | XPLR INFRAST OPERATING SR UNSECURED 144A 01/29 7.25                                                                                       | CUSIP: 65342QAM4<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |      74000 | PA      | $75665.00     | 0.29%             | 2029-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ZHONGSHENG GROUP                      | ZHONGSHENG GROUP SR UNSECURED REGS 01/28 5.98                                                                                             | CUSIP: 5329969C1<br>LEI: 3003005VYMEBAJNJ2Y26 | Long             | DBT              | CORP              | KY        |     223000 | PA      | $225547.46    | 0.85%             | 2028-01-30      | Fixed         | 5.98%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-05

**Name of Applicant:** T. Rowe Price Exchange-Traded Funds, Inc.

**Signature:** /s/ Alan Dupski

**Name of Signer:** Alan Dupski

**Title:** Treasurer & Vice President